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Stock Market & Financial Investment News

News Breaks
June 13, 2014
12:34 EDTC, FNSR, LVLT, TWTC, EXPR, GRUB, YELP, INTC, PCLN, OPENOn The Fly: Midday Wrap
Stocks on Wall Street began the session slightly higher but quickly gave up their opening gains. An early report on producer prices unexpectedly showed slight deflation, not price inflation as was expected, which was followed by a worse than expected reading on consumer confidence. The averages dropped into negative territory, but by mid-morning the market had reversed and moved back onto positive ground, where the averages remained near the lunch hour. ECONOMIC EVENTS: In the U.S., the Labor Department's producer price index for final demand slipped 0.2% in May, versus expectations for it to have risen 0.1% in the month. The first release of the University of Michigan consumer confidence index for June dropped to 81.2 from the final May reading of 81.9. COMPANY NEWS: Shares of restaurant review and reservation company OpenTable (OPEN) were the day's big winner after travel site operator Priceline Group (PCLN) agreed to buy the company for $2.6B, or $103 per share. OpenTable advanced 47% to trade at $103.50 near noon, while shares of a number of companies that provide local services and deals via the Internet and mobile devices jumped as well, including Yelp (YELP), which was up 13%, and GrubHub (GRUB), which rose 8.5%... Shares of chip making giant Intel (INTC) rose more than 7% after its raised its guidance for the second quarter, citing strong demand for business PCs, and said that it now expects some revenue growth this fiscal year, versus its previous guidance for "mostly flat" revenue growth. MAJOR MOVERS: Among the notable gainers was Express (EXPR), which jumped 20% after confirming that Sycamore Partners, which owns approximately 9.9% of its shares, has expressed interested in acquiring the company. Also higher was TW Telecom (TWTC), which rose nearly 12% after a financial news service BrightWire said the company and Level 3 (LVLT) are in merger talks. Among the noteworthy losers was telecommunication equipment maker Finisar (FNSR), which sunk 23% after the company’s profit and gross margin outlook trailed analysts’ consensus estimates and its stock was downgraded at Craig-Hallum. Also lower was Citigroup (C), which fell 1.5% after Bloomberg reported that the U.S. is seeking over $10B in its mortgage probe related to the bank. INDEXES: Near midday, the Dow was up 34.84, or 0.21%, to 16,769.03, the Nasdaq was up 12.03, or 0.28%, to 4,309.66, and the S&P 500 was up 5.06, or 0.26%, to 1,935.17.
News For OPEN;PCLN;INTC;YELP;GRUB;EXPR;TWTC;LVLT;FNSR;C From The Last 14 Days
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July 11, 2014
10:28 EDTCURS Corporation working with banks on potential sale, Reuters reports
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09:43 EDTFNSRFinisar initiated with a Market Perform at Barrington
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09:37 EDTCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFC C SUNE FB AMZN TSLA TWTR
07:20 EDTCBig banks seen losing reserve release cushion, Reuters says
Releasing loan-loss reserves has helped U.S. big banks weather a period of weak loan demand and lower fee income, but Q2 results from the banks may see less benefit from the practice as loss rates and reserves near their lower limits, said Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:10 EDTPCLNJPMorgan expects solid Q2 results in Internet space
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06:06 EDTINTCIntel to unveil 14nm processors, 10nm wafers at IDF in September, DigiTimes says
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July 10, 2014
19:38 EDTYELPYelp says Google results favoring Google+ local listings, WSJ reports
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10:46 EDTYELPYelp retreats after analyst says review growth slowed
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10:06 EDTYELPYelp falls after price target cut, levels to watch
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09:56 EDTYELPYelp price target lowered to $86 from $106 at Feltl
Feltl lowered Yelp's price target to $86 from $106 following checks that indicate business deceleration and a notable slowdown in U.S. sequential growth of total reviewed businesses to 3% in Q2 from 8% in Q1. Shares remain Buy rated.
08:02 EDTLVLTLevel 3 data center services to support Brazil's Fototica
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07:57 EDTPCLNPriceline property count suggests Q2 upside, says FBR Capital
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06:20 EDTCCalifornia, New York among states to share in Citigroup settlement, LA Times say
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05:49 EDTYELPYelp review growth outpacing Google Plus, says Piper Jaffray
Piper Jaffray says its data shows that despite being a more mature platform, Yelp (YELP) continues to outpace Google Plus (GOOG) in terms of review growth. Yelp reviews over the past month have increased by 3% versus Google's up 2%, Piper says. The firm remains positive on Yelp shares with an Overweight rating and $80 price target.
July 9, 2014
10:20 EDTINTCReport says Intel delaying Broadwell chip shipment, MacRumors says
Intel (INTC) has decided to further postpone the shipping of its line of 14-nanometer Broadwell chips, which are anticipated to be included in future versions of the Apple's (AAPL) MacBook Air, Retina MacBook Pro, and iMac, according to MacRumors, citing a report on Chinese site VR Zone. Reference Link
06:59 EDTYELPYelp formally opposed the EU's antitrust settlement with Google, NY Times says
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06:51 EDTCBofA also in talks with DOJ to settle civil probes over mortgage unit, WSJ says
In addition to the talks with Citigroup (C), the Department of Justice has also has been in talks with Bank of America (BAC) to resolve civil probes over its mortgage business, the Wall Street Journal reports. Reference Link
06:37 EDTCCitigroup close to settling mortgage probe for $7B, NY Times reports
Citigroup is nearing a deal with the Justice Department, under which the bank would pay about $7B to settle a civil probe of mortgage investments it sold, according to The New York Times. Dow Jones yesterday reported that Citigroup would pay about $4B to settle the probe. Reference Link
06:34 EDTINTCFake document hits federal court in hiring case against tech giants, WSJ says
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05:56 EDTYELPStocks with implied volatility movement; YELP SD
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