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Stock Market & Financial Investment News

News Breaks
March 21, 2013
12:09 EDTHPQ, DELL, ACAD, CSCO, ORCL, GES, SVU, BX, SCHLOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as Europe's woes continue, though purchasing managers' indexes for the U.S. and China were strong. Amidst the backdrop of ongoing negotiations in Cyprus and a wealth of economic data from around the globe, the major averages slumped at the open and have been range-bound ever since... ECONOMIC EVENTS: In the U.S., jobless claims rose 2K from the prior week to 336K, a bit below the forecast for an increase to 340K. The FHFA home price index for January rose 0.6% from the prior month, versus expectations for a 0.7% advance. The leading economic indicators rose 0.5% for February, versus expectations for an increase of 0.4%. Existing home sales rose 0.8% in February, versus expectations for a 1.6% monthly increase. The Philly Fed manufacturing survey reading for March came in at +2.0, versus expectations for a -3.0 reading. Markit's preliminary U.S. purchasing managers' index for March came in at 54.9, nearly matching the 54.8 consensus forecast. In China, HSBC's preliminary PMI reading for March was 51.7, which compares to a 50.4 final reading for February. In Europe, Markit's flash composite PMI for services and manufacturing fell to 46.5 in March from 47.9 in February. Also, the European Central Bank said it will cut Cypriot banks off from emergency funds after this Monday, March 25, unless a bailout agreement is struck with the EU and IMF... COMPANY NEWS: Oracle (ORCL) shares fell 8% and were downgraded at CLSA and Evercore following the company's disappointing earnings report. Oracle may also risk losing its president Mark Hurd, according to a report from Fortune. The publication said Blackstone (BX) is seriously considering a bid for Dell (DELL) and one of the PE firm's top choices to run Dell, assuming it chooses to bid, would be Oracle's Hurd... Cisco (CSCO) was by far the Dow's worst performer, sinking over 3% following Oracle's report and after FBR Capital downgraded Cisco to an Underperform rating in a note to investors earlier today... Hewlett-Packard (HPQ) raised its regular dividend by 10% after shareholders failed in an attempt to remove the company's two longest-serving directors at its annual meeting, held last night... MAJOR MOVERS: Among the notable gainers was SuperValu (SVU), which rose more than 6% after it completed the sale of several of its chains to a private equity firm consortium in a deal valued at $3.3B, including $100M in cash and $3.2B in debt assumption. Also higher were shares of ACADIA Pharmaceuticals (ACAD), up 29% after presenting detailed results from a Phase III study of its treatment for Parkinson's disease psychosis. Among the noteworthy losers following their earnings reports were Scholastic (SCHL), which fell 14%, and Guess (GES), which declined nearly 5%... INDICES: Near noon, the Dow was down 35.83, or 0.25%, to 14,475.90; the Nasdaq was down 20.01, or 0.61%, to 3,234.18; and the S&P 500 was down 4.80, or 0.31%, to 1,553.91.
News For ORCL;DELL;BX;CSCO;HPQ;SVU;ACAD;SCHL;GES From The Last 14 Days
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April 16, 2015
07:06 EDTBXBlackstone reports Q1 ENI $1.37, consensus $1.04
Reports Q1 revenue $2.51B, consensus $2.04B. Says total AUM was up 14% y/y, with total AUM at $310.5B. Fee-earning AUM was $223.51B.
06:38 EDTACADACADIA initiated with an Outperform at Leerink
Leerink started shares of ACADIA with an Outperform rating saying the recent pullback following the pimavanserin new drug application delay provides a buying opportunity. The firm set a $48 price target for the stock.
April 15, 2015
18:32 EDTCSCOIdentiv, Cisco enter agreement to provide solutions for Internet of Everything
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07:58 EDTHPQTsinghua confirms talks for controlling stake in HP unit in China, WSJ reports
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07:46 EDTCSCOEricsson, Juniper in focus for deals after Nokia-Alcatel tie-up, Bloomberg says
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07:24 EDTBXBlackstone April volatility elevated into Q1 and outlook
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05:10 EDTHPQHP selects Antonio Lucio as Chief Marketing Officer of HP Inc.
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April 14, 2015
13:02 EDTBXFly Watch: Analyst expects strong Q1 results from private equity firms
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11:55 EDTCSCOCommunication equipment stocks active after potential Nokia-Alcatel deal
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10:50 EDTCSCOOptions with increasing implied volatility
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07:47 EDTHPQHP announces new $190M Medicaid contract in Arkansas
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07:05 EDTACADNeedham to hold a conference
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05:56 EDTCSCOStocks with implied volatility movement; CSCO MAC
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April 13, 2015
19:43 EDTHPQHP reaffirms commitment to the public cloud
In a blog post on HP's website, senior VP Bill Hilf said, "In the past week, a quote of mine in the media was interpreted as HP is exiting the public cloud, which is not the case." Reference Link
14:18 EDTSVUTarget names Anne Dament as SVP, Merchandising
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12:42 EDTORCLFly Watch: Wells says ServiceNow likely to unveil upbeat revenue target
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10:34 EDTSCHLAnalyst predicts consolidation in educational products space
The shares of Scholastic (SCHL) are climbing after Citigroup wrote that the company will probably be acquired by Houghton Mifflin Harcourt (HMHC). Scholastic develops educational products for children, including books and technology products. Houghton Mifflin Harcourt publishes textbooks used in K-12 schools around the world. WHAT'S NEW: Houghton Mifflin is "very likely" to buy Scholastic, Citi analyst Jason Bazinet wrote in a note to investors earlier today. The assets of Scholastic "fit naturally" with those of Houghton Mifflin, since both companies publish materials for K-12 students, the analyst stated. Houghton Mifflin's reluctance to return capital to shareholders, along with a lack of suitable targets in the K-12 space, further convince Bazinet that the deal will probably take place, the analyst stated. The acquisition would increase the value of Houghton Mifflin's stock to $30, wrote Bazinet, who increased his price target on the shares to $29 from $23. He kept a Buy rating on the stock. PRICE ACTION: In early trading, Scholastic rose 1.3% to $40, while Houghton Mifflin advanced 1.5% to $24.
07:31 EDTCSCOHealthcare Information & Management Systems Society to hold a conference
HIMSS 2015 is being held in Chicago on April 12-16.
06:32 EDTBXReal estate is a big part of Blackstone's business, NY Times says
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06:25 EDTSCHLHoughton Mifflin 'very likely' to acquire Scholastic, says Citigroup
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