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Stock Market & Financial Investment News

News Breaks
July 23, 2014
09:17 EDTBRCM, BIIB, KING, REPYY, ISRG, DOW, TLM, WHR, JNPR, ALTR, BA, GSK, XLNX, PBYI, PEP, MCDOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Intuitive Surgical (ISRG), up 12.8%... Biogen (BIIB), up 8%... Broadcom (BRCM), up 3.6%... PepsiCo (PEP), up 1.8%... Dow Chemical (DOW), up 1.5%. ALSO HIGHER: Puma Biotechnology (PBYI), up 275% after reporting positive top line results from Phase III PB272 trial, price target on stock raised to $325 from $125 at UBS, Citigroup says company a likely acquisition target after data... Talisman Energy (TLM), up 9.6% after Bloomberg reports Repsol (REPYY) may be looking to acquire. DOWN AFTER EARNINGS: Whirlpool (WHR), down 4.4%... Juniper Networks (JNPR), down 7.9%... GlaxoSmithKline (GSK), down 5.8%... Boeing (BA), down 0.8%. ALSO LOWER: Xilinx (XLNX), down 14.2% after results, downgrades at William Blair, BofA/Merrill and BMO Capital. Shares of peer Altera (ALTR) are also down 4.6%... King Digital (KING), down 2.7% after downgraded at BofA/Merrill... McDonald's (MCD), down 0.9% following downgrades at multiple firms after its earnings report yesterday.
News For PBYI;BA;MCD;XLNX;ALTR;PEP;GSK;JNPR;WHR;ISRG;BIIB;TLM;REPYY;BRCM;DOW;KING From The Last 14 Days
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February 17, 2015
07:38 EDTGSKGlaxo replaces head of struggling U.S. drug unit, Bloomberg reports
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07:24 EDTMCDExecutives' Club of Chicago to hold a breakfast meeting
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07:22 EDTALTRMitsubishi UFJ to hold a tour
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07:15 EDTPEPConsumer Analyst Group of New York (CAGNY) to hold a conference
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February 13, 2015
18:21 EDTMCDMcDonald's holder CtW Investment Group seeks board changes, WSJ reports
McDonald's shareholder CtW Investment Group is seeking a “robust refreshment of the board’s membership and leadership,” The Wall Street Journal reports. Reference Link
18:02 EDTBABoeing awarded $402.78M government contract modification
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16:35 EDTMCD, PEPS&P closes at all-time high as stocks run winning streak to second week
The major stock averages gained for the second week in a row, sending the S&P 500 to a new all-time high in the process. With the weekly advance, the major averages wiped out all their losses since the beginning of the year and moved into the green for 2015. MACRO NEWS: The U.S. economic calendar was relatively quiet during this week. Retail sales decreased 0.8% in January, versus expectations for a 0.4% decline. Initial jobless claims rose 25K to 304K in the week ended January 7. Consumer sentiment fell to 93.6 in the preliminary February release from the University of Michigan survey, versus expectations for the reading to hold at the 98.1 it achieved in January... In Europe, Russian, Ukrainian, German and French leaders came to terms on a cease-fire to begin Sunday. Eurozone GDP grew by 0.3% in the last three months of 2014, which was a bit faster than expected, largely due to strong upside in Germany. A Eurogroup meeting failed to reach a final bailout deal for Greece, but reports afterward seemed to have an optimistic tone about the continuation of talks. Sweden’s Riksbank became the latest central bank to cut interest rates and said it would undertake a program of sovereign bond buying... In China, foreign trade volume declined 10.8% year-on-year in January, with exports dropping 3.2% and imports slumping 19.7%. COMPANY NEWS: Coca-Cola (KO), PepsiCo (PEP), Zoetis (ZTS), Mondelez (MDLZ), and Groupon (GRPN) were among the companies whose stocks reacted positively to their quarterly earning reports. Conversely, the shares of Pier 1 Imports (PIR), AOL (AOL) and Zynga (ZNGA) fell after they reported their results... Dow member American Express (AXP) fell sharply after the company announced that its U.S. co-brand and merchant acceptance agreements with Costco (COST) are set to end in March of next year. Costco has been one of the few big U.S. merchants that to-date had accepted AmEx cards exclusively. Afterward, American Express said that the company now expects that overall earnings growth in 2015 will likely be "flat to down modestly" year-over-year... Another member of the blue chip index, McDonald's (MCD), dropped after reporting that its comparable sales declined 1.8% in January. As part of the overall results, U.S. same-store sales grew 0.4%, but Asia/Pacific, Middle East and Africa comparable sales dropped 12.6%... General Motors (GM) shares rose after the company confirmed that Harry Wilson intends to nominate himself as candidate for the GM board and bring before the annual meeting a proposal that the company commit to completing $8B of share repurchases... On the M&A front, Interxion (INXN) advanced after the company agreed to an all-share merger with U.K. peer TelecityGroup, after which Interxion shareholders will owning approximately 45% of the combined group. Rite Aid (RAD) rose after the pharmacy retail chain agreed to buy EnvisionRx from TPG for $2B and re-enter the pharmacy benefit management space it had previously exited. INDEXES: For the week, the Dow rose 1.09% to 18,019.35, the Nasdaq gained 3.14% to 4,893.84, and the S&P rose 2% to 2,096.99.
16:28 EDTKINGOn The Fly: Closing Wrap
Stocks on Wall Street opened the session in positive territory and remained there throughout the day. Although the market moved in a narrow range, the S&P 500 closed at an all-time high, the Nasdaq hit a 15 year high, and the Dow crossed back above 18,000 for the first time this year. There was little volatility in the market as investors looked forward to the three day President’s Day weekend. ECONOMIC EVENTS: In the U.S., consumer sentiment fell to 93.6 in the preliminary February release from the University of Michigan survey, versus expectations for the reading to hold at the 98.1 it achieved in January. The import price index for January declined 2.8%, versus the consensus forecast for a 3.2% drop. In Europe, Eurozone GDP grew by 0.3% in the last three months of 2014, which was a bit faster than expected, largely due to strength in Germany. COMPANY NEWS: Shares of King Digital (KING) advanced $1.96, or 13.3%, to $16.70, while shares of Zynga (ZNGA) dropped 42c, or 15.79%, to $2.24 after both casual game makers last night announced fourth quarter results and provided their respective outlooks. The maker of Candy Crush and other games reported adjusted earnings per share and revenue that beat expectations and also announced a special dividend of 84c per share, while the revenue and outlook of its rival Zynga came in below expectations. MAJOR MOVERS: Among the notable gainers was Columbia Sportswear (COLM), which rose $7.91, or 18.15%, to $51.50 after the clothing maker reported better than expected sales and profits, gave an earning forecast that topped estimates and approved an additional $200M share repurchase authorization. Also higher following its earnings report was another clothing maker V.F. Corporation (VFC), the owner of the North Face, Vans and Timberland brands, which gained $4.26, or 6%, to $75.26. Among the noteworthy losers was MagnaChip Semiconductor (MX), which plunged $7.50, or 49.93%, to $7.52 and was downgraded at Topeka and Barclays after restating its financial statements for 2011, 2012, 2013, and the first three quarters of 2014. Also lower were shares of ConAgra (CAG), which slid $1.59, or 4.37%, to $34.83 after the packaged food maker said after last night's closing bell that it sees third quarter earnings per share 10c below the 62c it earned in the same quarter last year. INDEXES: The Dow rose 46.97, or 0.26%, to 18,019.35, the Nasdaq gained 36.22, or 0.75%, to 4,893.84, and the S&P 500 advanced 8.51, or 0.41%, to 2,096.99.
12:33 EDTKINGOn The Fly: Midday Wrap
Stocks on Wall Street opened in positive territory and remained there throughout the morning, pushing the S&P to a new all-time high in the process. The Dow has climbed back above 18,000 for the first time this year and is also potentially on track to close the week at a new all-time high ahead of the long holiday weekend. The move comes in spite of the University of Michigan consumer confidence reading slipping from last month’s figure in the first look for February. ECONOMIC EVENTS: In the U.S., consumer sentiment fell to 93.6 in the preliminary February release from the University of Michigan survey, versus expectations for the reading to hold at the 98.1 it achieved in January. The import price index for January declined 2.8%, versus the consensus forecast for a 3.2% drop. In Europe, Eurozone GDP grew by 0.3% in the last three months of 2014, which was a bit faster than expected, largely due to strong upside in Germany. COMPANY NEWS: Shares of King Digital (KING) are surging while shares of Zynga (ZNGA) are dropping after both casual game makers last night announced fourth quarter results and provided their respective outlooks for the first quarter. King Digital reported adjusted earnings per share and revenue that beat expectations and also announced a special dividend of 84c per share, sending its stock up 13% near noon. Conversely, Zynga's revenue and outlook came in below expectations and its shares dropped 16% in midday trading. MAJOR MOVERS: Among the notable gainers following their earnings reports were Columbia Sportswear (COLM), which added 16%, SkyWest (SKYW), which rose 14%, and Groupon (GRPN), which advanced 9%. Among the noteworthy losers was MagnaChip Semiconductor (MX), which fell 49% and was downgraded to Hold from Buy at Topeka after restating its financial statements for 2011, 2012, 2013, and the first three quarters of 2014. Also lower were shares of Ambarella (AMBA), which slid 7.5%. Analysts at Pacific Crest attributed the sell-off to concerns over the company's revenue from Axis AB, which announced Tuesday it would be acquired by Canon (CAJ), but the firm said it believes Axis AB represents less than 1% Ambarella's revenue and views the pullback as an overreaction. INDEXES: Near midday, the Dow was up 29.25, or 0.16%, to 18,001.63, the Nasdaq was up 18.85, or 0.39%, to 4,876.46, and the S&P 500 was up 3.43, or 0.16%, to 2,091.91.
10:30 EDTKINGKing Digital gaps up, retraces, following earnings
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10:00 EDTGSKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ametek (AME) upgraded to Outperform at RW Baird... Ascena Retail (ASNA) upgraded to Buy from Hold at KeyBanc... Cabela's (CAB) upgraded to Buy from Neutral at DA Davidson... CoreSite Realty (COR) upgraded to Overweight from Equal Weight at Stephens... Cytokinetics (CYTK) upgraded to Overweight from Neutral at Piper Jaffray... DTS, Inc. (DTSI) upgraded to Outperform at Cowen... Dr Pepper Snapple (DPS) upgraded to Market Perform from Underperform at Wells Fargo... Elizabeth Arden (RDEN) upgraded to Outperform from Market Perform at BMO Capital... EnLink Midstream (ENLC) upgraded to Buy from Hold at Wunderlich... GlaxoSmithKline (GSK) upgraded to Buy from Sell at UBS... Great-West Lifeco (GWLIF) upgraded to Buy from Hold at TD Securities... Himax (HIMX) upgraded to Buy from Neutral at Chardan... Mallinckrodt (MNK) upgraded to Overweight from Neutral at JPMorgan... Medical Properties upgraded to Outperform from Sector Perform at RBC Capital... Microchip (MCHP) upgraded to Buy from Hold at Drexel Hamilton... Orbitz (OWW) upgraded to Neutral from Sell at Goldman... Plains GP Holdings (PAGP) upgraded to Overweight from Equal Weight at Stephens... SanDisk (SNDK) upgraded to Buy from Hold at Drexel Hamilton... SkyWest (SKYW) upgraded to Buy from Hold at Deutsche Bank... Stage Stores (SSI) upgraded at Sterne Agee... Tractor Supply (TSCO) upgraded to Buy from Hold at Argus... Valero (VLO) upgraded to Conviction Buy from Neutral at Goldman... Watsco (WSO) upgraded to Overweight from Equal Weight at Stephens.
09:49 EDTKINGCasual game makers move in opposite directions following Q4 reports
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09:21 EDTKINGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Cytokinetics (CYTK), up 15.6%... King Digital (KING), up 22.2%... Cyberark Software (CYBR), up 19.2%... Web.com (WWWW), up 4%... CBS (CBS), up 3.4%. ALSO HIGHER: Freescale Semiconductor (FSL), up 10.9% following a New York Post report that the company is exploring a sale. Carlyle Group (CG), which owns Freescale, along with Blackstone (BX), is up 1.5%. Blackstone is up fractionally... Whiting Petroleum (WLL), up 4.4% following a Bloomberg report that the company is seeking a buyer for assets in North Dakota... Ariad Pharmaceuticals (ARIA), up 5.7% following a CNBC report that Sarissa Capital is seeking to replace Ariad CEO and Chairman Harvey Berger. DOWN AFTER EARNINGS: Knowles (KN), down 20.3%... Zynga (ZNGA). down 12.4%... J.M. Smucker (SJM), down 2.1%. ALSO LOWER: Magnachip Semiconductor (MX), down 51.7% after restating financial results... Idera Pharmaceuticals (IDRA), down 7.6% after 20M share Secondary priced at $3.75.
08:40 EDTKINGKing Digital future beyond Candy Crush still uncertain, says Pacific Crest
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08:28 EDTKINGKing Digital price target raised to $23 from $20 at Wedbush
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08:23 EDTGSKPiper Jaffray biotech/healthcare analysts hold analyst/industry conference call
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08:19 EDTGSK, BIIB, MCDAckman noncommittal on McDonald's rumors, Bloomberg reports
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07:41 EDTMCDGlenview buys small stake in McDonald’s, suggests real estate sale, WSJ says
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06:33 EDTGSKGlaxoSmithKline upgraded to Buy from Sell at UBS
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05:17 EDTKINGStocks with implied volatility above IV index mean; KING ZNGA
Stocks with implied volatility above IV index mean; King Digital (KING) 87, Zynga (ZNGA) 81 according to iVolatility.
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