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Stock Market & Financial Investment News

News Breaks
June 20, 2014
09:17 EDTORCL, OC, ETE, NGLS, CLRX, SWHC, SNY, MACK, KMX, FDO, DRI, ABBV, SHPG, TRGPOn The Fly: Pre-market Movers
HIGHER: Shire (SHPG), up 16% after disclosing it rejected a takeover offer from AbbVie (ABBV). Bloomberg reported that AbbVie may increase its takeover offer following the rejection. Shares of AbbVie are also up 2% following the news... CarMax (KMX), up 16% after Q1 earnings beat analyst's consensus... Family Dollar (FDO), up 2.4% after Carl Icahn sent a letter to CEO urging an immediate sale. LOWER: Oracle (ORCL), down 5% after downgraded at Citigroup following the company's Q4 earnings results... Darden (DRI), down 4% after reporting Q4 earnings... Merrimack Pharmaceuticals (MACK), down 11% after announcing that it has reached an agreement with Sanofi (SNY) to regain worldwide rights to develop and commercialize MM-121... Smith & Wesson (SWHC), down 8% after guidance for Q1, FY15 miss expectations... Targa Resources Partners (NGLS), down 9.3% after downgraded at Wunderlich following news that the company's takeover talks with Energy Transfer Equity (ETE) ended without a deal. Targa Resources (TRGP), the parent of Targa Resources Partners, is down 9% after the news.. Owens Corning (OC), down 6% after cutting FY14 adjusted EBIT view... Hercules Offshore (HERO), down 6.8% after downgraded at Iberia... AK Steel (AKS), down 4.5% after giving Q2 EPS guidance.
News For ORCL;SHPG;ABBV;DRI;FDO;KMX;MACK;SNY;SWHC;CLRX;NGLS;ETE;OC;TRGP From The Last 14 Days
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October 13, 2014
06:05 EDTDRIDarden downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded Darden to Neutral citing a lack of leadership clarity after Starboard ousted the company's entire board of directors.
October 10, 2014
16:17 EDTFDODollar General receives second request from FTC
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10:01 EDTDRIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
09:52 EDTDRIDarden resumes trading, up 1.8% after all Starboard nominees elected to board
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09:47 EDTDRIDarden confirms 12 Starboard-nominated directors to board
Darden announced that, based on the preliminary vote count provided by its proxy solicitor following the company's 2014 Annual Meeting, shareholders have elected all 12 Starboard-nominated directors to Darden's Board of Directors including Betsy Atkins, Margaret Shan Atkins, Jean Birch, Bradley Blum, Peter Feld, James Fogarty, Cynthia Jamison, William Lenehan, Lionel Nowell, III, Jeffrey Smith, Charles Sonsteby, and Alan Stillman. Darden noted that the preliminary vote count following the Annual Meeting also indicates that shareholders voted FOR the approval, on an advisory basis, of the company's executive compensation, for the ratification of the appointment of KPMG as Darden's independent registered public accounting firm for the fiscal year ending May 31, 2015, for a management proposal to amend the Company's bylaws to provide for proxy access and against two shareholder proposals as described in the company's associated Proxy Statement.
09:36 EDTDRIAll Starboard directors elected to Darden board, CNBC reports
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08:31 EDTTRGPGoldman remains bullish on MLPs
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08:11 EDTFDOFamily Dollar Q4 bad enough to justify merger, says FBR Capital
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06:40 EDTDRIDarden up against Starboard at yearly meeting, Reuters says
Darden and Starboard Value are expected to enter into heated discussions at the company's yearly meeting, where Starboard is aiming to win full control of the restaurant company's board, reported Reuters. Reference Link
06:30 EDTMACKMerrimack coverage assumed with an Outperform at Oppenheimer
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October 9, 2014
16:49 EDTORCLOracle hires former director of engineering from Google, Re/code reports
Oracle (ORCL) hired Peter Magnusson, former director of engineering at Google (GOOG) and VP of engineering at Snapchat, two weeks ago in a move to improve its cloud computing business, Re/code reports, citing sources familiar with the move. Reference Link
16:46 EDTDRIDarden initiated with a Market Perform at BMO Capital
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16:19 EDTFDOFamily Dollar will not provide guidance for FY15
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16:17 EDTFDOFamily Dollar reports Q4 adjusted EPS 73c, consensus 77c
Reports Q4 revenue $2.61B, consensus $2.58B. Reports Q4 SSS up 0.3%. Q4 adjusted results exclude the negative impact on diluted net income per common share of 43c per share related to the Company’s restructuring charges and fees related to its pending merger with Dollar Tree.
11:00 EDTETEOptions with increasing implied volatility
Options with increasing implied volatility: ARWR PBR EXXI PWE GST GLNG WTW AFSI ETE VALE
09:41 EDTFDOBofA/Merrill retail analysts hold an analyst/industry conference call
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08:28 EDTABBVGilead to be challenged by AbbVie in HCV near-term, says Bernstein
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05:22 EDTSHPGShire provides regulatory update on SHP 465
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October 8, 2014
15:25 EDTFDONotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include PepsiCo (PEP), consensus $1.29; Family Dollar (FDO), consensus 77c; Lindsay (LNN), consensus 57c.
07:18 EDTSNY, ABBVInfectious Diseases Society of America to hold a conference
ID Week 2014 is being held in Philadelphia on October 8-12.
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