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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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November 14, 2014
16:21 EDTPOn The Fly: Closing Wrap
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12:58 EDTPOn The Fly: Midday Wrap
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11:22 EDTPPandora rallies after CEO share purchase
The stock is being pushed higher by word that the CEO of the company made a purchase of 25,000 shares following the recent lows at $17.55. At the current price of $20.97 resistance is at the bottom of the bearish gap down in price from October 24th at $21.17. A move higher puts the shares back into the gap for a bullish gap fill. Resistance would be at $22.48 thereafter. Support is at $20.31. Approximately 10% of the float is short which is likely contributing to a squeeze higher.
11:05 EDTPPandora jumps following CEO share purchase
Shares of Pandora (P) are rallying after the company's CEO disclosed that he had bought 25,000 shares of the company's stock. WHAT'S NEW: In a regulatory filing last night, Pandora CEO Brian McAndrews disclosed that he had bought 25,000 of the company's shares on Wenesday at a price of $18.58 per share. McAndrews now owns over 475,000 shares of the stock, according to the filing. ANALYST REACTION: In a note to investors, Stifel analyst Scott Devitt wrote that McAndrews purchased the stock using his own personal funds. According to the analyst, it is quite rare for CEOs to take such an action. McAndrews' purchase of the stock was "a strong vote of confidence" in the company, Devitt contended. He kept a $29 price target and Buy rating on the shares. WHAT'S NOTABLE: Pandora announced that it would hold a conference call next Tuesday to discuss proceedings before the Copyright Royalty Board. The board will determine the company's new royalty structure by December 2015, Devitt wrote. PRICE ACTION: In mid-morning trading, Pandora climbed $2.30, or 12.5%, to $20.75.
09:38 EDTAMZN, P, MSFTActive equity options trading
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09:18 EDTMSFTTyler Technologies signs contract with Ohio Police and Fire Pension Fund
Tyler Technologies (TYL) has signed a contract with the Ohio Police and Fire Pension Fund to implement Microsoft Dynamics AX, an enterprise resource planning solution with public sector functionality that Tyler Technologies jointly developed with Microsoft (MSFT). The contract includes related professional services, licensing, training and support.
09:05 EDTMSFTNPD says U.S. video game sales down 27% in October, Bloomberg reports
U.S. retail sales of video-game hardware and software in October were nearly flat compared to the same month of last year at $790.7M, according to NPD Group, which noted that game sales fell 27% and hardware sales increased 59%, reported Bloomberg. Publicly traded companies in the space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO). Game console makers include Microsoft (MSFT), Sony (SNE) and Nintendo (NTDOY). Reference Link
08:18 EDTPPandora CEO share purchases a significant vote of confidence, says Stifel
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06:16 EDTAMZNEU says Starbucks tax deal in Netherlands may be illegal state aid, WSJ says
The European Union said the tax deal struck by Starbucks (SBUX) in the Netherlands amounts to illegal state aid, reports the Wall Street Journal. European Commission regulators said it reached a preliminary view that the tax deal violated guidelines produced by the Organization for Economic Cooperation and Development. It said the tax deal "tolerates questionable adjustments which allow Starbucks Manufacturing BV to lower the resulting corporate income tax basis in the Netherlands." The EU is also investigating tax arrangements of Apple (AAPL) in Ireland and Amazon (AMZN) and Fiat S.p.A. (FIATY) in Luxembourg. Reference Link
November 13, 2014
18:47 EDTPPandora to host conference call
Conference call to discuss the current Web IV proceeding before the Copyright Royalty Board will be held on November 18 at 5 pm.Webcast Link
18:40 EDTPOn The Fly: After Hours Movers
UP AFTER EARNINGS: TubeMogul (TUBE), up 12.4%... Weibo (WB), up 3.2%... Nordstrom (JWN), up 3.1%. ALSO HIGHER: Geron (GERN), up 30.7% after announcing a global strategic collaboration with Janssen Biotech... Baker Hughes (BHI), up 16.2% following reports that the company is in talks to be acquired by Halliburton (HAL)... Halliburton is up 1.4%... Pandora (P), up 4% after announcing a conference call to discuss Web IV proceeding... AmerisourceBergen (ABC), up 1.1% after being awarded a $4.06B government contract. DOWN AFTER EARNINGS: Retrophin (RTRX), down 6.6%... Phoenix New Media (FENG), down 8.4%... Voxeljet AG (VJET), down 8.6%... Intrexon (XON), down 1.1%... Youku Tudou (YOKU), down 5.7%... Applied Materials (AMAT), down 2.5%. ALSO LOWER: Puma Biotechnology (PBYI), down 6.9% following PB272 Phase II Trial results... EnLink Midstream (ENLK), down 4.8% after filing to sell 10.5M common units representing limited partners.
18:26 EDTPPandora announces conference call to discuss Web IV proceeding
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16:03 EDTAMZNOptions Update; November 13, 2014
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11:52 EDTMSFTMicrosoft confirms acquisition of security company Aorato
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11:43 EDTAMZNAmazon.com, Hachette end dispute, New York Times reports
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11:15 EDTFFord wary of expanding South African investment, Reuters says
Due to repeated disruptions to its operations from strikes, Ford is reticent to expand its investment in Its South African operation, says Reuters. Jeff Nemeth, president of Ford's South African business, said, "A challenge for us here in South Africa is convincing our board to continue to invest in a country where the stability of output is a little less certain than in other countries," added Reuters. Reference Link
07:30 EDTLPNTCredit Suisse to hold a conference
Healthcare Conference is being held in Scottsdale, Arizona on November 10-13 with webcasted company presentations to begin on November 13 at 11 am; not all company presentations may be webcasted. Webcast Link
07:29 EDTMSFTMicrosoft to buy Aorato for about $200M, sources say, WSJ reports
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06:45 EDTMSFTMicrosoft Xbox sales tripled since price cut, CNet reports
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06:20 EDTAMZN, MSFTAmazon's Web-services chief not threatened by cash threat from rivals, WSJ says
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