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Stock Market & Financial Investment News

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June 26, 2014
10:23 EDTSWHC, RMTI, MTOR, APOL, NWBO, SBGI, UNXL, ACHN, VRTX, OHRPOptions with decreasing implied volatility
Options with decreasing implied volatility: OHRP VRTX ACHN UNXL SBGI NWBO APOL MTOR RMTI SWHC
News For OHRP;VRTX;ACHN;UNXL;SBGI;NWBO;APOL;MTOR;RMTI;SWHC From The Last 14 Days
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August 26, 2014
16:07 EDTSWHCSmith & Wesson sees Q2 EPS 4c-8c, consensus 28c
Sees Q2 revenue $100M-$110M, consensus $136.82M.
16:05 EDTSWHCSmith & Wesson reports Q1 EPS 26c, consensus 25c
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16:00 EDTSWHCSmith & Wesson trading halted, pending news
15:25 EDTSWHCNotable companies reporting after market close
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09:17 EDTACHNAchillion October volatility elevated
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August 25, 2014
16:13 EDTACHNOn The Fly: Closing Wrap
Stocks began the session in positive territory and proceeded to tack on gains throughout the morning. Despite a disappointing report on new home sales in July, the S&P surpassed the 2,000 level for the first time before noon. The market pared its gains shortly after the milestone was reached and drifted for the remainder of the session on light volume, as trading activity may be restrained all week ahead of the Labor Day weekend. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity index jumped to 0.39 in July from an upwardly revised 0.21 in June. Markit's preliminary August services PMI came in at 58.5, which was down from a prior reading of 60.8 but above the 58.0 consensus projection. New home sales dropped 2.4% to a 412K rate in July, missing expectations for them to have risen to a 430K annualized rate. COMPANY NEWS: Shares of InterMune (ITMN) surged $19.05, or 35.41%, to $72.85 after the company agreed to be acquired by Roche (RHHBY) for $74.00 per share in an all-cash transaction. The deal announcement comes less than two weeks after Bloomberg reported that Roche, along with big pharma peers Sanofi (SNY) and GlaxoSmithKline (GSK), had made takeover bids for the smaller drugmaker. A number of other biotech companies gained following the deal announcement, including bigger names like Gilead (GILD) and Celgene (CELG) and smaller ones such as Achillion Pharmaceuticals (ACHN) and Receptos (RCPT)... Burger King (BKW) shares rose $5.29, or 19.51%, to $32.40 after the company confirmed it is in talks regarding a potential strategic transaction with Canadian donut chain Tim Hortons (THI). Shares of Tim Horton's trading in New York also gained $11.88, or 18.91%, to $74.72 following the confirmation of news first reported by The Wall Street Journal. MAJOR MOVERS: Among the other notable gainers was Advaxis (ADXS), which advanced 75c, or 23.08%, to $4.00 after announcing it has entered into a clinical trial collaboration agreement with Merck (MRK). Also rising were shares of Comtech (CMTL), which jumped $1.70, or 4.84%, to $36.81 after Reuters said the company is working with Citigroup to explore a potential sale. Among the noteworthy losers was Chinese internet and software company Qihoo 360 Technology (QIHU), which fell $7.88, or 7.74%, to $93.87 despite reporting second quarter earnings and revenue that beat analysts' estimates. Also lower were shares of GrubHub (GRUB), which fell $3.60, or 8.42%, to $39.16 after filing to sell 10M shares of common stock. INDEXES: The Dow gained 75.65, or 0.44%, to 17,076.87, the Nasdaq rose 18.80, or 0.41%, to 4,557.35, and the S&P 500 advanced 9.54, or 0.48%, to 1,997.94.
07:23 EDTAPOLGovernment not looking to push other colleges out of business, says Wells Fargo
In the wake of Corinthian Colleges' (COCO) dissolution due to actions taken by the Department of Education, Wells Fargo thinks the government did not intend for this scenario to unfold. After speaking with unnamed "knowledgeable sources" about the issue, the firm does not expect the department to take similar actions in the future because doing so would create too much of a workload for the department, Wells believes. Publicly traded companies in the space include American Public Education (APEI), Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), DeVry (DV), Grand Canyon (LOPE), ITT Educational (ESI) and Strayer (STRA).
August 22, 2014
07:29 EDTSWHCSmith & Wesson September volatility elevated into Q1 and outlook
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August 21, 2014
09:07 EDTMTORMeritor in discussions to sell inventory, assets of its Mascot business
Meritor completed its strategic review of certain remanufacturing product lines within the aftermarket business in North America, and the board of the Company concluded that the company should exit the Mascot business. Mascot is a remanufacturer and distributor of differentials, transmissions and steering gears primarily for certain original equipment manufacturers. The company is in discussions to sell substantially all of its inventory and other assets of its Mascot business. In the event the company is unable to successfully execute a sale transaction, it intends to wind down the Mascot business. The company expects to incur losses on the sale or liquidation of assets of the Mascot business of approximately $24M. The Company also expects to incur severance, other employee costs, and contract termination costs related thereto of an additional $5M. Of these charges, an estimated $5M are expected to result in cash expenditures. The Company is targeting the end of the fourth quarter of fiscal year 2014 for the completion of a sale transaction or a wind down of the Mascot business.
09:04 EDTSBGISinclair Broadcast announces launch of original programming division
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August 20, 2014
17:29 EDTACHNRA Capital reduces stake in Achillion to 21.1% from 23.2%
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11:42 EDTACHNOptions with decreasing implied volatility
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11:22 EDTSBGISinclair Broadcast agrees to swap TV stations with Media General
Sinclair Broadcast Group (SBGI ) announced that it has entered into a definitive agreement to purchase the broadcast assets of one television station in Providence, RI owned by Media General (MEG), two television stations in Green Bay, WI owned by LIN Media (LIN) and one television station in Savannah, GA owned by WTGS Television and operated by LIN through a shared services arrangement. The three markets represent 1.2% of U.S. television households. Simultaneously, Sinclair will sell Media General the broadcast assets of three stations in two markets upon the completion of the LIN/Media General merger. The company's previously announced sale of WHTM in Harrisburg is expected to close in September. The combination of all stations being sold to Media General represents 1.9% of U.S. television households.In addition and as part of the transactions, Sinclair will pay a net cash price of $31M for an additional $3.4M of cash flow being swapped. In addition, the company expects to generate an additional approximately $2M of synergies on the acquired stations.
August 19, 2014
16:07 EDTACHNAchillion granted U.S. patent for ACH-3102, structurally related NS5A inhibitors
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15:12 EDTAPOLApollo Education management to meet with Piper Jaffray
Meeting to be held in Los Angeles on August 21 hosted by Piper Jaffray.
10:42 EDTNWBO, ACHNOptions with decreasing implied volatility
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August 18, 2014
17:26 EDTOHRPOhr Pharmaceutical reports Q3 EPS (9c), one estimate (10c)
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10:01 EDTACHNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Buy from Hold at Deutsche Bank... CNOOC (CEO) upgraded to Neutral from Underperform at Credit Suisse... Dollar General (DG) upgraded to Buy from Neutral at Sterne Agee... Equity Residential (EQR) upgraded to Hold from Underperform at Jefferies... HMS Holdings (HMSY) upgraded to Overweight from Equal Weight at First Analysis... HP (HPQ) upgraded to Buy from Neutral at Monness Crespi... Halcon Resources (HK) upgraded to Buy from Hold at MLV & Co.... KapStone (KS) upgraded to Buy from Hold at Deutsche Bank... Sportsman's Warehouse (SPWH) upgraded at RW Baird... Westlake Chemical (WLK) upgraded to Neutral from Reduce at SunTrust... WisdomTree (WETF) upgraded to Neutral from Sell at Citigroup... Zimmer (ZMH) upgraded to Outperform from Market Perform at William Blair.
09:03 EDTACHNOn The Fly: Pre-market Movers
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07:28 EDTACHNAchillion upgraded to Buy from Hold at Deutsche Bank
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