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Stock Market & Financial Investment News

News Breaks
April 25, 2014
12:41 EDTF, DV, P, MSFT, LPNT, CYTK, AMZN, PBHOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, with the tech-heavy Nasdaq being weighed down by shares of Amazon (AMZN), which slid following the e-commerce giant's quarterly report. The market opened lower and picked up downside momentum to extend the slide to triple digit losses for the Dow and a more than 1% loss for the Nasdaq. The weakness comes in spite of a report that showed consumer confidence surged in April to approach the highest level since the recession began in 2007. ECONOMIC EVENTS: In the U.S., Markit's flash services PMI dipped 1.1 points to 54.2 in April, missing expectations for a rise to 55.5. The final University of Michigan consumer confidence reading for April rose to 84.1, beating expectations for a reading of 83.0. In Europe, S&P cut Russia's sovereign rating to BBB-. COMPANY NEWS: Shares of online retailer Amazon.com fell 9% after the company’s second quarter outlook failed to impress. After the company reported roughly in-line Q1 results and forecast Q2 revenue of $18.1B-$19.8B, compared to consensus of $19.03B, Citigroup, Wells Fargo, and Deutsche Bank all lowered their respective price targets on the stock. Another firm, Raymond James, downgraded Amazon to Outperform from Strong Buy, citing mixed Q1 results, a continued significant investment cycle, and slowing unit growth and media sales. The firm lowered its price target on the shares to $391 from $443... Microsoft (MSFT) shares were up nearly 1% after reporting earnings that beat expectations on revenues that were roughly in-line with estimates in the first quarter with new CEO Satya Nadella at the helm. MAJOR MOVERS: Among the notable gainers was Prestige Brands (PBH), which rose 17% after the company agreed to acquire Insight Pharmaceuticals for $750M. Also higher following their earnings reports were for-profit education company DeVry (DV), which gained 14%, and hospital operator LifePoint Hospitals (LPNT), which advanced 5%. Among the noteworthy losers was drugmaker Cytokinetics (CYTK), which plunged more than 60% after a trial of tirasemtiv in ALS did not achieve its primary efficacy endpoint. Also lower following their earnings reports were Internet radio provider Pandora (P), which fell over 15%, and carmaker Ford (F), which slid 3%. INDEXES: Near midday, the Dow was down 119.19, or 0.72%, to 16,382.46, the Nasdaq was down 58.29, or 1.41%, to 4,090.05, and the S&P 500 was down 11.91, or 0.63%, to 1,866.70.
News For PBH;LPNT;DV;AMZN;MSFT;F;CYTK;P From The Last 14 Days
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December 8, 2014
08:50 EDTAMZNAmazon increasing robot fulfilment use faster than expected, says Janney Capital
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08:07 EDTFFord management to meet with UBS
Meeting to be held in Boston on December 8 hosted by UBS.
06:30 EDTAMZNAmazon's German workers strike again, WSJ reports
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December 5, 2014
16:52 EDTMSFTDow just below 18K as market finishes week with gains
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11:26 EDTPBHPrestige Brands management to meet with B. Riley
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09:36 EDTAMZNActive equity options trading
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07:46 EDTMSFTCIO survey results favorable for Microsoft, says Pacific Crest
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06:53 EDTFFord's China sales rose 2% in November, Reuters says
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December 4, 2014
16:27 EDTMSFTOn The Fly: Closing Wrap
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16:00 EDTAMZNOptions Update; December 4, 2014
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12:34 EDTMSFTMicrosoft advances after analyst hikes target on upbeat earnings forecast
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12:22 EDTMSFTOn The Fly: Midday Wrap
Stocks on Wall Street began the session slightly lower despite relatively in-line jobless claims data, as European markets moved down following a rate decision and accompanying commentary from ECB President Mario Draghi. Adding to the modest pressure seen in morning trading may be the fact that oil prices continue to move lower. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 17K to 297K in the week ended November 29, which was nearly in-line with the expectation for 295K first-time claims. Challenger reported announced layoffs fell 15.2K in November to 35.9K. In Europe, the European Central Bank kept its key rates unchanged, as expected. ECB President Mario Draghi said in his accompanying press conference that the latest euro area macroeconomic projections indicate lower inflation, accompanied by weaker real GDP growth and subdued monetary dynamics. Additionally, he stated that early next year the Governing Council will reassess the monetary stimulus achieved, the expansion of the balance sheet and the outlook for price developments. "Should it become necessary to further address risks of too prolonged a period of low inflation, the Governing Council remains unanimous in its commitment to using additional unconventional instruments within its mandate. This would imply altering early next year the size, pace and composition of our measures," Draghi said. COMPANY NEWS: Shares of Barnes and Noble (BKS) slid about 10% after the company reported lower than expected second quarter earnings and said it continues to expect both Retail comparable bookstore sales and Retail Core comparable bookstore sales to decline in the low-single digits this fiscal year. Additionally, Barnes & Noble and Microsoft (MSFT) agreed to terminate their commercial agreement and B&N agreed to acquire Microsoft's entire preferred interest in NOOK Media in exchange for $62.4M cash and 2.74M shares of its stock. MAJOR MOVERS: Among the notable gainers was Hawaiian Electric (HE), which jumped 16% after its board approved a plan to spin off ASB Hawaii, the parent company for American Savings Bank, and establish it as an independent publicly traded company and NextEra Energy (NEE) agreed to acquire the company, excluding the banking subsidiary. Array BioPharma (ARRY) rose 15% after announcing it has reached a definitive agreement with Novartis (NVS) to regain full worldwide rights to binimetinib, a MEK inhibitor in three Phase 3 trials, which Piper Jaffray called a "big win" for the company. Among the noteworthy losers was UTi Worldwide (UTIW), which fell 11.5% after confirming that exploratory conversations have taken place with DSV, but adding those discussions never progressed beyond a preliminary stage and that no talks are currently taking place. Also lower were shares of Express (EXPR), which declined over 9% after the apparel retailer reported lower than expected Q3 revenue and gave EPS guidance that fell short of estimates. INDEXES: Near midday, the Dow was down 53.56, or 0.3%, to 17,859.06, the Nasdaq was down 2.80, or 0.06%, to 4,771.67, and the S&P 500 was down 5.49, or 0.26%, to 2,068.84.
10:08 EDTMSFTBarnes & Noble says Pearson continues to have 5% interest in Nook Media LLC
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09:37 EDTP, AMZNActive equity options trading
Active equity options trading according to Track Data: AAPL ALTR P BIDU AMZN TSLA X NFLX TWTR WMT
09:01 EDTAMZNAmazon launches Amazon Elements everyday essentials product line
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08:46 EDTMSFTBarnes & Noble to pay $62.4M, 2.74M shares for Microsoft Nook stake
08:45 EDTAMZNAmazon.com, ChannelAdvisor should be bought, says Pacific Crest
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08:44 EDTMSFTBarnes & Noble to acquire preferred interest in NOOK Media from Microsoft
Barnes & Noble (BKS) filed a Form 8-K with the SEC stating that Barnes & Noble and Microsoft (MSFT) have agreed to terminate their commercial agreement including any associated obligations for international content acquisition and sale. Such termination will allow the company to continue its rationalization of the NOOK Digital business and enhances Barnes & Noble’s operational and strategic flexibility. The termination also relieves Microsoft of any obligation to continue to fund support and other payments set forth in the commercial agreement between the partners. Additionally, the company stated that it had entered into an agreement with Microsoft to acquire its entire preferred interest in NOOK Media, LLC. As a result of today’s announcement, Barnes & Noble expects that the completion of the potential separation of the company's businesses could occur by the end of August 2015, although there can be no assurances regarding the timing of such potential separation or that such separation will be completed.
07:25 EDTMSFTMicrosoft price target raised to $56 from $50 at Nomura
Nomura raised Microsoft's price target to $56 to reflect the new Board's potential return of cash to shareholders. The analyst believes the Board is looking at several scenarios that include a leveraged recapitalization to buy back half its stock over a multi-year period, to a more likely, 5%-10% repurchase of shares. The firm rates shares a Buy.
06:02 EDTAMZNStocks with implied volatility movement; BAC AMZN
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