New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 20, 2013
16:52 EDTCHTP, OMX, TSS, CAT, ODP, NTSP, TRI, HNROn The Fly: Closing Wrap
Stocks on Wall Street were lower as each of the major averages dropped after the minutes from the last FOMC meeting indicated several Fed members are ready to vary the pace of bond buying... ECONOMIC EVENTS: In the U.S., 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. The minutes from the FOMC's Jan 29-30 meeting, released at 2 pm ET, said that several Fed members are concerned about the costs and risks of additional asset purchases. Several members of the committee said the Fed should be prepared to vary the pace of asset purchases, as the committee members continued to see moderate economic growth and gradually declining unemployment... COMPANY NEWS: The Office Depot (ODP) and OfficeMax (OMX) merger, reported over the long holiday weekend by the Wall Street Journal, was formally announced by the companies. However, the confirmation was inadvertently released on Office Depot's website ahead of the joint announcement, an error for which Thomson Reuters (TRI) later took responsibility. Shares of both companies, which had run-up after the WSJ story, declined following the confirmation, with Office Depot losing 84c, or 16.73%, to $4.18 and OfficeMax falling $91c, or 7%, to $12.09... Dow member Caterpillar (CAT) dropped $2.38, or 2.49%, to $93.22 after disclosing that global retail machine sales were down 4% in the three month rolling period ending January 31... MAJOR MOVERS: Among the notable gainers were shares of Chelsea Therapeutics (CHTP), up $1.14, or 149.51%, to $1.91 after the company received FDA guidance for a Northera new drug application resubmission and the stock was upgraded to Buy at Ladenburg. Also higher was NetSpend (NTSP), up $3.52, or 28.64%, to $15.81 after agreeing to be acquired by Total Systems (TSS) for $16 per share. Shares of buyer Total Systems lost $1.51, or 6.43%, to $21.97 following the acquisition. Also lower were shares of Harvest Natural Resources (HNR), down $3.71, or 40.5%, to $5.45 after its agreement to sell interests in Venezuela was terminated since the government of Indonesia voted against the transaction... INDICES: The Dow was down 108.13, or 0.77%, to 13,927.54; the Nasdaq was down 49.18, or 1.53%, to 3,164.41; and the S&P 500 was down 18.99, or 1.24%, to 1,511.95.
News For ODP;OMX;TRI;CAT;CHTP;NTSP;TSS;HNR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
June 30, 2015
09:04 EDTTSSMeta Payment Systems and NetSpend sign agreement extension
Subscribe for More Information
09:01 EDTTSSTSYS extends payments agreement with Banco INVEX
TSYS announced that it has extended its payments agreement with Mexico’s Banco INVEX S.A. The multi-year agreement includes processing services for INVEX’s consumer and commercial credit card portfolios. As part of the agreement, TSYS will continue to provide INVEX with additional services such as data analytics, fraud prevention and risk management tools. Financial terms of the agreement were not disclosed.
June 25, 2015
14:05 EDTODPStaples, Office Depot shares head lower as analyst highlights merger pitfalls
Shares of Staples (SPLS) and Office Depot (ODP) are in negative territory following a Citi research note identifying significant downside potential if their proposed merger is blocked. The note follows news on June 23 that a U.S. District Court has approved the preliminary injunction of the US Foods-Sysco (SYY) merger. WHAT'S NEW: In the wake of the FTC's preliminary injunction of the US Foods-Sysco deal, Citi's Kate McShane issued a note on the proposed merger of Staples and Office Depot. The FTC is expected to release a public version of its Sysco ruling this Friday, and McShane said details of the injunction could shed light on whether the Staples-Office Depot merger is likely to follow a similar path. The analyst sees a 40% and 49% downside scenario for Staples and Office Depot, respectively, were the merger to fail, versus a 20% upside for Office Depot shares if a successful outcome is reached. WHAT'S NOTABLE: The FTC stated on June 23 that the Sysco-US Foods merger "would lead to higher prices and diminished service," and U.S. District Judge Amit Mehta cited the probability of "substantially" reduced competition. Building on those pieces of information, Kate McShane notes that a merged Staples-Office Depot may only capture 15%-25% of the addressable market, in contrast to the 75% market share of a Sysco and US Foods combination. McShane cautioned that if she limits her analysis to just Fortune 100 companies, the 15%-25% figure would likely be higher, but refrains from stronger speculation on the probability of the deal closing. On June 24, the New York Post cited sources calling the merger "unlikely" after the Sysco injunction. As noted by Citi, if regulator sentiment swings against the office supply companies, shares could head sharply lower. PRICE ACTION: Staples is down 0.4% in afternoon trading, while Office Depot is down 0.3%.
10:00 EDTODPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AT&T (T) upgraded to Buy from Neutral at BofA/Merrill... Eli Lilly (LLY) upgraded to Buy, added to US 1 List at BofA/Merrill... Finish Line (FINL) upgraded to Buy from Neutral at B. Riley... Gran Tierra (GTE) upgraded to Buy from Hold at Canaccord... Greenhill & Co. (GHL) upgraded to Buy from Sell at Goldman... Magnum Hunter (MHR) upgraded to Equalweight from Underweight at Capital One... Marathon Oil (MRO) upgraded to Buy from Neutral at UBS... Newpark Resources (NR) upgraded to Strong Buy from Outperform at Raymond James... Office Depot (ODP) upgraded to Outperform from Market Perform at Telsey Advisory... Quanex (NX) upgraded to Outperform from In-Line at Imperial Capital... Vestas Wind (VWDRY) upgraded to Outperform from Neutral at Exane BNP Paribas... Web.com (WWWW) upgraded to Buy from Neutral at B. Riley... NRG Yield upgraded to Outperform from Market Perform at Avondale.
08:50 EDTODPStaples has 20% upside if Office Depot deal closes, says Citi
Subscribe for More Information
07:37 EDTCATExecutives' Club of Chicago to hold a discussion
Subscribe for More Information
06:47 EDTODPStaples volatility low into expected closure of its merger with Office Depot
Staples (SPLS) July weekly call option implied volatility is at 23, July is a 22, September is at 28; compared to its 52-week range of 20 to 53, suggesting decreasing price movement into the expected closure of its proposed $6.3B merger with Office Depot (ODP).
06:35 EDTODPOffice Depot upgraded to Outperform from Market Perform at Telsey Advisory
June 24, 2015
09:10 EDTODPOn The Fly: Pre-market Movers
Subscribe for More Information
07:12 EDTODPStaples deal unlikely after Sysco-US Foods merger blocked, NY Post reports
Subscribe for More Information
June 22, 2015
17:46 EDTCATCaterpillar to lay off 50 more workers in East Peoria, Reuters says
Subscribe for More Information
June 19, 2015
10:49 EDTHNRHarvest Natural to host business news update conference call
Conference call to be held on June 22 at 11 am. Webcast Link
09:02 EDTHNRHarvest Natural announces $32.2M in funding and strategic partnership
Subscribe for More Information
08:20 EDTODPOffice Depot shareholders approve acquisition by Staples
Subscribe for More Information
07:44 EDTTRITamr receives $25.2M in financing from HP Ventures, Thomson Reuters, others
Tamr announced that it has raised $25.2M in Series B financing from Hewlett Packard Ventures (HPQ); Thomson Reuters (TRI); MassMutual Ventures, the corporate venture capital arm of Massachusetts Mutual Life Insurance Company and others. Current Tamr investors NEA and Google Ventures (GOOG) also participated in the round. Tamr will use the funds to significantly grow sales as well as product engineering for Tamr’s scalable data unification platform.
June 18, 2015
11:31 EDTCATCaterpillar trends appear negative for Cummins, says Wells Fargo
Subscribe for More Information
09:15 EDTCATCaterpillar reports retail machines sales down 12% in three months end May
Caterpillar reported in a regulatory filing that its total retail machines sales were down 12% on a three month rolling basis in May. For reference, retail sales of machines were down 11% in the period ending in April and were down 12% in the period ending in March. The company reported world Resources Industries sales down 8% in the May period, which was better than the 9% drop in the April end period. Construction Industries world sales were down 14%, worse than the 12% drop in the April period. Total Energy & Transportation Retail Sales were down 6% in the May end period, which was better than the 8% decline seen in the April period.
08:59 EDTCATCaterpillar and Modustri to collaborate on equipment monitoring technology
Subscribe for More Information
June 17, 2015
09:40 EDTTRITD Securities to hold a conference
Subscribe for More Information
June 16, 2015
08:06 EDTTRINielsen names James Powell Global Chief Technology Officer July 6, 2015
Nielsen (NLSN) named technology veteran James Powell Global Chief Technology Officer effective July 6, 2015. Powell joins the company from Thomson Reuters (TRI) where he was Executive Vice President and Chief Technology Officer.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use