New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 20, 2014
16:20 EDTTRGP, DRI, SHPG, ETE, FLML, ORCL, NGLS, ABBVOn The Fly: Closing Wrap
Stocks on Wall Street had a quiet open and remained that way throughout the session. The averages moved in a narrow range but drifted mostly in positive territory, allowing the Dow and S&P 500 to close the week at all-time highs. The Nasdaq also notched a gain, despite being weighed on by shares of Oracle (ORCL), which slid after reporting earnings below Wall Street estimates. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Shares of enterprise software provider Oracle sunk $1.69, or 3.98%, to $40.82 after the company’s fourth quarter results trailed analysts’ consensus estimates. Citigroup downgraded Oracle to Neutral from Buy citing weak license growth and "relatively aggressive" Q1 targets following the company's Q4 results... Shire (SHPG) shares trading in New York rose $31.18, or 16.26%, to $222.89 after the company confirmed it rejected a takeover offer from AbbVie (ABBV). Abbvie, which has tried unsuccessfully three times to strike a deal to buy the Ireland-based drugmaker, is considering raising its offer for Shire a fourth time, according to Bloomberg, citing two people with knowledge of the matter. MAJOR MOVERS: Among the notable gainers was car retailer CarMax (KMX), which surged $7.47, or 16.5%, to $52.75 after the company reported first quarter results that beat expectations. Also higher were shares of Flamel Technologies (FLML), which rose $2.40, or 18.79%, to $15.17 after the FDA changed its drug shortage website and now lists Flamel's Bloxiverz as the "first and only" approved neostigmine. Analysts at Summer Street believe the change could be a "hugely significant" milestone for Flamel and may mean that the FDA could be taking action to remove unapproved neostigmines offered by other companies. Among the noteworthy losers was Targa Resources Partners (NGLS), which fell $11.44, or 14.03%, to $70.11 after announcing last night that its takeover talks with Energy Transfer Equity (ETE) ended without a deal and the stock was downgraded at Wunderlich following the news. Shares of Targa Resources Partners and its parent, Targa Resources (TRGP), had spiked late in yesterday's session after Bloomberg reported that Energy Transfer was near a deal to buy them. Also lower was restaurant operator Darden (DRI), which dropped $1.94, or 3.92%, to $47.58 after stating that same-store sales at its Olive Garden restaurants had declined 3.5% last quarter and reporting earnings that disappointed. INDEXES: The Dow rose 25.62, or 0.15%, to 16,947.08, the Nasdaq advanced 8.71, or 0.2%, to 4,368.04, and the S&P 500 gained 3.39, or 0.17%, to 1,962.87.
News For ORCL;SHPG;ABBV;FLML;DRI;NGLS;ETE;TRGP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
November 18, 2014
16:43 EDTDRIDarden to clsoe corporate aviation departement, sell planes 'in due course'
Subscribe for More Information
16:43 EDTDRIDarden to restructure Olive Garden, LongHorn field leadership
Darden will eliminate one layer of field operations supervision to provide greater line of sight for restaurant leadership teams. This streamlining is expected to result in improvements in both visibility and accountability as the brand leaders at Olive Garden and LongHorn continue to work on improving the guest experience.
16:41 EDTDRIDarden to eliminate 25 open support positions
Subscribe for More Information
16:40 EDTDRIDarden Chief Human Resources Officer Ng to transition from position
Daisy Ng, Chief Human Resources Officer, will transition out of her role after more than nine years with Darden. Danielle Kirgan, currently SVP, Human Resources, Specialty Restaurant Group and Total Rewards, will assume Ng's position effective January 5, 2015. Ng will assist in the transition and support the work of the board including the work of the Compensation Committee.
16:39 EDTDRIDarden CFO Richmond to retire
Subscribe for More Information
16:37 EDTDRIDarden announces restructuring, strategic actions
Darden Restaurants announced several leadership changes and strategic actions in order to increase the focus on restaurant operations and improve the guest experience. These changes will better position Darden to win the battle for market share across all of its concepts. In addition to improving focus and providing better support for the company's restaurants, the announcement will lead to approximately $20M in annualized cost savings through a reduction in General and Administrative expenses. The company expects savings of approximately $10M this fiscal year which will mitigate anticipated near-term cost increases in dairy, beef and other commodities. Darden Interim CEO Gene Lee stated, "Winning market share, improving same-restaurant-sales and achieving best-in-class profitability are our key operational objectives going forward, so we need to fine-tune our approach to the business to make sure we are laser-focused on these initiatives. The actions announced today are critically important steps in becoming more efficient in how we support the restaurants. This includes limiting the number of distractions that divert our attention from what matters most – continually working to improve the food and service we offer our guests."
16:35 EDTDRIDarden reports restructuring, closes aviation department, CFO retirement
Subscribe for More Information
08:46 EDTETEETE to transfer 30.8M ETP common units in $3.75B deal
Energy Transfer Partners (ETP) and Energy Transfer Equity (ETE) announced that the management teams of the two partnerships have reached an agreement with respect to a transaction valued at approximately $3.75B in which ETE would transfer 30.8M ETP common units, ETE’s 45% interest in the Bakken pipeline project, and a cash amount to be determined in exchange for newly issued Class H units of ETP that will generally entitle ETE to receive 40.0% of the cash distributions and other economic attributes of the general partner interest and incentive distribution rights of Sunoco Logistics Partners (SXL). In addition, ETE and ETP anticipate that they will negotiate a reduction in the incentive distribution right subsidies that ETE previously agreed to provide to ETP, and that such reductions would occur in 2015 and 2016. When combined with the 50.16M Class H units acquired by ETE in October 2013, upon consummation of the Transaction, ETE would own Class H units that will generally entitle ETE to receive approximately 90% of the cash distributions and other economic attributes of the general partner interest and incentive distribution rights of SXL. Upon redemption of the 30.8M ETP common units, ETP’s outstanding common units will be reduced to approximately 322M common units. ETP expects that the Transaction will be neutral to distributable cash flow per ETP common unit in 2015 and accretive to distributable cash flow per ETP common unit in 2016 and thereafter. ETE expects that the transaction will be slightly dilutive to distributable cash flow per ETE common unit in 2015 and accretive to distributable cash flow per ETE common unit in 2016 and thereafter. The transaction is expected to be credit neutral to both ETE and ETP. ETE and ETP anticipate that the transaction agreements will be negotiated and executed prior to the end of 2014 and that the transaction would close in Q1 of 2015.
06:39 EDTSHPG, ABBVAstraZeneca: 'Hard to comment' on whether Pfizer will come back, Reuters reports
Subscribe for More Information
November 17, 2014
09:24 EDTABBVAbbVie to present data on investigational oncology compounds at ASH
AbbVie announced it will present data evaluating three investigational compounds from the company's oncology pipeline at the upcoming 56th American Society of Hematology Annual Meeting, or ASH, December 6-9. Data will be highlighted in 13 accepted abstracts, including several oral presentations detailing new trial results from the venetoclax program in acute myelogenous leukemia, elotuzumab in multiple myeloma, and duvelisib in patients with chronic lymphocytic leukemia and indolent non-Hodgkin's lymphoma. Meeting abstracts are available at the ASH website, the company said.
November 14, 2014
17:27 EDTSHPG, ABBVPaulson & Co. gives quarterly update on stakes
Subscribe for More Information
17:13 EDTSHPGAppaloosa gives quarterly update on stakes
NEW STAKES: NXP Semiconductors (NXPI), Lorillard (LO), Alibaba (BABA), and Shire (SHPG). INCREASED STAKES: Whirlpool (WHR), Priceline (PCLN), Delta (DAL), CBS (CBS), and General Motors (GM). DECREASED STAKES: American Airlines (AAL), Disney (DIS), Apple (AAPL), MGM Resorts (MGM), and Eastman Chemical (EMN). LIQUIDATED STAKES: Expedia (EXPE), AIG (AIG), Prudential (PRU), Celanese (CE), and ASML Holding (ASML).
17:07 EDTABBVSoros Fund Management gives quarterly update on stakes
Subscribe for More Information
16:58 EDTSHPGThird Point gives quarterly update on stakes
NEW STAKES: Alibaba (BABA), eBay (EBAY), Bed Bath & Beyond (BBBY), Shire (SHPG), and Parker Hannifin (PH). INCREASED STAKES: Actavis (ACT), Amgen (AMGN), EQT (EQT), Sensata (ST), Coca-Cola Enterprises (CCE). DECREASED STAKES: Williams Cos (WMB), Ally Financial (ALLY), Cheniere Energy (LNG), YPF (YPF), and FedEx (FDX). LIQUIDATED STAKES: AIG (AIG), T-Mobile (TMUS), Rackspace (RAX), Hertz (HTZ), and Citrix Systems (CTXS).
16:51 EDTABBVAbbVie presents ABT-414 study, will initiate randomized phase 2 trial of ABT-414
Subscribe for More Information
14:53 EDTABBVCVS Express Scripts implementing drug price controls, says Cleveland Research
Cleveland Research believes that CVS (CVS) and Express scripts are implementing rebates and price controls on drug. The firm expects the companies to increase their focus on controlling durg prices next year, and adds that they have already itnroduced prior authorization criteria for hepatitis drug. Publicly traded drug companies include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Makers of hepatits c drugs include AbbVie (ABBV) and Gilead (GILD),
10:00 EDTABBVOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AbbVie (ABBV) initiated with a Buy at Deutsche Bank... Advance Auto Parts (AAP) initiated with a Buy at Sterne Agee... AutoZone (AZO) initiated with an Underperform at Sterne Agee... Carter's (CRI) initiated with a Buy at Sterne Agee... Children's Place (PLCE) initiated with a Neutral at Sterne Agee... Container Store (TCS) initiated with a Fair Value at CRT Capital... DHT Holdings (DHT) initiated with a Buy at UBS... Diana Shipping (DSX) initiated with a Neutral at UBS... Genuine Parts (GPC) initiated with a Neutral at Sterne Agee... National Oilwell (NOV) initiated with a Neutral at UBS... Navios Acquisition (NNA) initiated with a Buy at UBS... NeoStem (NBS) assumed with a Buy at Maxim... O'Reilly Automotive (ORLY) initiated with a Neutral at Sterne Agee... Scorpio Bulkers (SALT) initiated with a Neutral at UBS... Star Bulk Carriers (SBLK) initiated with a Neutral at UBS... Teekay Tankers (TNK) initiated with a Buy at UBS... The Buckle (BKE) initiated with an Underweight at BB&T... TriMas (TRS) initiated with an Overweight at JPMorgan... TriplePoint Venture (TPVG) initiated with a Buy at UBS... Tsakos Energy (TNP) initiated with a Buy at UBS... USD Partners (USDP) initiated with an Outperform at Credit Suisse... Zumiez (ZUMZ) initiated with a Buy at BB&T.
07:14 EDTABBVAmerican College of Rheumatology is holding a meeting
2014 ACR/ARHP Annual Meeting is being held in Boston on November 14-19.
06:12 EDTORCLSAP to pay Oracle $359M to settle legal battle, WSJ reports
Subscribe for More Information
05:46 EDTABBVAbbVie initiated with a Buy at Deutsche Bank
Subscribe for More Information
1 | 2 | all recent news | >>

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