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News Breaks | | | | February 20, 2013 | | 12:35 EDT |  | ODP, OMX, CAT, NTSP, TSS, HNR, MM | On The Fly: Midday Wrap
Stocks on Wall Street were lower at midday following the release of several domestic economic reports and ahead of the minutes from the last FOMC meeting. The averages drifted quietly with little direction in the early part of the session, but weakened following rumors that a sizable commodity hedge fund was in trouble and was forced to liquidate. Details of that rumored collapse were scarce, though crude prices were down over 2% in midday trading... ECONOMIC EVENTS: In the U.S., Commerce Department figures showed total housing starts dropped 8.5% to a 890K rate in January, which was less than forecast. However, building permits were up 1.8% in the month, versus expectations for an increase of 1.2%. Producer prices in January rose 0.2%, versus expectations for an increase of 0.3%. The core producer price inflation figure, which excludes volatile food and energy components, rose 0.2%, which was in line with expectations. Also, the Federal Reserve is scheduled to release the minutes from its Jan. 29-30 meeting at 2pm ET... COMPANY NEWS: Shares of Office Depot (ODP) and OfficeMax (OMX) both declined after confirming their previously rumored plan to merge, but the announcement took a strange turn. Office Depot inadvertently announced the deal early as part of its earnings report, though both companies confirmed the merger in press releases later in the morning. Following the confirmation of the all-stock deal, Office Depot fell 14%, while OfficeMax slid nearly 4%... Dow member Caterpillar (CAT) declined almost 2% after disclosing that global retail machine sales dropped 4% in the three months through January, continuing a trend of declining sales that began in the prior month... MAJOR MOVERS: Among the notable gainers was NetSpend (NTSP), which rose over 28% to $15.79 after agreeing to be acquired by Total Systems (TSS) for $16 per share. Shares of buyer Total Systems slipped more than 6%. Also lower were shares Harvest Natural Resources (HNR), down over 38% after its agreement to sell interests in Venezuela was terminated, and Millennial Media (MM), which fell 36% after its quarterly report and a downgrade of the stock at Morgan Stanley... INDICES: Near midday, the Dow was down 18.97, or 0.14%, to 14,016.70; the Nasdaq was down 17.42, or 0.54%, to 3,196.17; and the S&P 500 was down 6.17, or 0.40%, to 1,524.77. | |
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News For ODP;OMX;CAT;NTSP;TSS;HNR;MM From The Last 14 Days Check below for free stories on ODP;OMX;CAT;NTSP;TSS;HNR;MM the last two weeks. |
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| June 19, 2013 | | 10:01 EDT |  | TSS | On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Coca-Cola (KO) initiated with an Outperform at Credit Suisse... Dr Pepper Snapple (DPS) initiated with a Neutral at Credit Suisse... Keryx (KERX) initiated with an Overweight at JPMorgan... Neurocrine Biosciences (NBIX) initiated with an Outperform at Oppenheimer... PepsiCo (PEP) initiated with a Neutral at Credit Suisse... Superior Energy (SPN) initiated with an Outperform at Cowen... Chambers Street Properties (CSG) initiated with a Neutral at Ladenburg... Synergy Resources (SYRG) initiated with an Outperform at Iberia... Callidus Software (CALD) initiated with a Buy at Lake Street... Teva (TEVA) initiated with a Buy at Maxim... Ubiquiti Networks (UBNT) initiated with an Outperform at JMP Securities... Vantiv (VNTV) initiated with an Overweight at Morgan Stanley... Visa (V) initiated with an Overweight at Morgan Stanley... MasterCard (MA) initiated with an Overweight at Morgan Stanley... Global Payments (GPN) initiated with an Underweight at Morgan Stanley... Green Dot (GDOT) initiated with an Underweight at Morgan Stanley... Total System (TSS) initiated with an Equal Weight at Morgan Stanley... MoneyGram (MGI) initiated with an Equal Weight at Morgan Stanley... Heartland Payment (HPY) initiated with an Equal Weight at Morgan Stanley... FleetCor (FLT) initiated with an Equal Weight at Morgan Stanley... Western Union (WU) initiated with an Equal Weight at Morgan Stanley... CorEnergy (CORR) initiated with an Outperform at Wells Fargo. | | | 07:34 EDT | | TSS | Total System initiated with an Equal Weight at Morgan Stanley
| | | June 18, 2013 | | 07:19 EDT |  | ODP | Eyefortransport to hold a summit
 Subscribe for More Information | | | June 14, 2013 | | 09:15 EDT |  | OMX, ODP | Starboard files complaint asking Office Depot to hold meeting
Subscribe for More Information | | | 06:02 EDT |  | ODP | Starboard Value sues Office Depot for no annual meeting, Reuters reports
Starboard Value LP, a major Office Depot investor, is suing the company for failing to hold an annual shareholder meeting to elect directors, an unusual step just before a merger, reports Reuters. Reference Link | | | June 12, 2013 | | 12:27 EDT | | CAT | On The Fly: Midday Wrap
Subscribe for More Information | | | 11:42 EDT | | CAT | Caterpillar raises dividend 15% to 60c from 52c per share
Subscribe for More Information | | | 11:41 EDT | | CAT | Caterpillar raises dividend 15%
| | | June 11, 2013 | | 15:24 EDT | | TSS, NTSP | NetSpend to host special shareholder meeting
Subscribe for More Information | | | 08:07 EDT | | ODP, OMX | OfficeMax and Office Depot hires Korn/Ferry for CEO search
Subscribe for More Information | | | | 08:03 EDT | | OMX, ODP | OfficeMax and Office Depot select Korn/Ferry to assist CEO selection
Subscribe for More Information | | | 07:06 EDT | | CAT | Hudbay Minerals receives $130M commitment for equipment financing facility
Subscribe for More Information | | | June 10, 2013 | | 08:10 EDT | | ODP, OMX | Office Depot sets July 10 as date for meeting on OfficeMax proposed merger
Subscribe for More Information | | | 06:13 EDT | | CAT | Barloworld expects Caterpillar unit sales growth in Africa, Bloomberg reports
Caterpillar (CAT) South African equipment distributor Barloworld (BRRAW) sees spending by mining companies and governments on infrastructure to increase Africa sales of the machinery by more than 10% a year, reports Bloomberg. Barloworld has exclusive distribution rights with Caterpillar in Russia and eight African countries, including Zambia and Mozambique. Reference Link | |
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