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Stock Market & Financial Investment News

News Breaks
February 21, 2014
12:21 EDTPCLN, STRA, HPQ, NEM, BKD, GRPN, COG, ESCOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite the day's primary economic report, on existing homes sales, coming in below expectations. Stocks began the session moderately higher as traders rolled out positions ahead of options expiration. The market seemed to lack direction in the opening moments but the buyers emerged following the housing data, as investors may have been cheered that sales fell only slightly more than expected. ECONOMIC EVENTS: In the U.S., existing home sales fell 5.1% from the prior month to a rate of 4.62M in January, which was only slightly worse that projected by economists. COMPANY NEWS: Shares of online travel agency priceline.com (PCLN) climbed 3% to trade near $1,325 per share after the company reported stronger than expected fourth quarter results last night. Many research firms reacted to priceline's results and guidance by raising their price targets on the shares, with more than one hiking their targets above $1,500 per share... Groupon (GRPN) reported fourth quarter earnings per share of 4c, excluding certain items, and revenue of $768.4M, beating expectations. However, the company forecast first quarter losses per share 2c-4c, which was far below expectations of 6c per share in earnings. Groupon said it expects one-time costs related to the integration of its recent acquisitions, specifically as it consolidates Ticket Monster with its Korean business, and anticipates approximately $25M of additional investment in marketing and other growth initiatives to drive adoption of the marketplace. Shares of the local e-commerce marketplace owner were down 18% near noon after the report. MAJOR MOVERS: Among the notable gainers was Emeritus (ESC), which rose almost 37% after agreeing to a $2.8B deal to merge with Brookdale Senior Living (BKD) in a stock exchange transaction. Also higher was following its earnings report was for-profit education company Strayer Education (STRA), which jumped about 26%. Among the noteworthy losers was Hewlett-Packard (HPQ), which fell 1% after its first quarter results beat expectations but its earnings forecast for the new quarter came in generally below expectations. Also lower following their earnings reports were Cabot Oil & Gas (COG), which fell 7%, and Newmont Mining (NEM), which dropped 6%. INDEXES: Near midday, the Dow was up 28.90, or 0.18%, to 16,162.13, the Nasdaq was up 12.40, or 0.29%, to 4,279.94, and the S&P 500 was up 3.94, or 0.21%, to 1,843.72.
News For PCLN;GRPN;HPQ;ESC;BKD;STRA;COG;NEM From The Last 14 Days
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June 29, 2015
08:08 EDTHPQJefferies sees recent weakness as attractive entry point in PC names
Jefferies analyst James Kisner cut his PC unit expectations for 2015 and 2016, citing recent negative data points including Micron's (MU) commentary and guidance, but added that he believes PC names may be finding a bottom and that the pullback in Western Digital (WDC), Seagate (STX), and HP (HPQ) creates an attractive entry point in all three stocks. Kisner sees the most potential upside in Western Digital, but lowered his price target on its shares to $116, and said HP may have the least potential downside, cutting his price target on the computer maker to $40.50. The firm keeps Buy rating on both HDD makers and on HP.
06:05 EDTHPQNotebook demand expected to be weaker than expected in 2H15, DigiTimes reports
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June 25, 2015
17:56 EDTHPQMicron plunges after Q3 results, guidance impacted by PC headwinds
Shares of PC related memory chip maker Micron Technology (MU) are plunging after reporting third quarter financial results and fourth quarter guidance that missed analyst expectations. WHAT'S NEW: After the close, Micron reported Q3 earnings per share of 54c on revenue of $3.85B, both shy of analyst estimates of 56c and $3.9B, respectively. Citing "near-term headwinds driven primarily by weakness in PC sector," Micron gave a fourth quarter revenue view of $3.45B-$3.7B which was significantly lower than analyst expectations of $4.16B. WHAT'S NOTABLE: On the company's earnings conference call, Micron said, consistent with prior expectations, "We are forecasting DRAM industry supply bit growth in the mid-20s in calendar 2015 and in the low-to-mid 20s in 2016." The company said it sees DRAM gross margins for Q4 down mid-single digits sequentially. Additionally, the chip maker said it sees Q4 DRAM bit growth flat to up low single digits. ANALYST TAKE: On June 22, Micron was downgraded to Sell from Neutral at Goldman Sachs. Goldman analyst Mark Delaney downgraded Micron Technology to Sell saying rising DRAM supply will lower selling prices and contract margins. Delaney expects DRAM prices to drop up to 30% over the next three quarters and cut his price target for shares to $19 from $27. On the same day, JP Morgan lowered its price target on Micron shares to $33 from $37. The firm also lowered its estimates for Micron citing lower than anticipated DRAM pricing in the past three months. The firm, however, kept an Overweight rating on Micron, saying improving demand in other segments like mobile and the company's decision to not hold inventory during Q3 should help offset the DRAM weakness. PRICE ACTION: Shares of Micron are lower by 11.5% in after- hours trading to $21.25. OTHER PC RELATED STOCKS: In after-hours trading, PC related chip makers are also lower, with Intel Corporation (INTC) down 0.9%, NVIDIA (NVDA) lower by 1.1%, and AMD (AMD) down fractionally. Others trading lower include Microsoft (MSFT), SanDisk (SNDK), Hewlett-Packard (HPQ), and Seagate (STX).
13:31 EDTHPQWi-LAN unit enters into license agreement with Acuity Brands
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07:15 EDTGRPNGroupon shares oversold at current levels, says Brean Capital
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June 24, 2015
10:22 EDTGRPNDigital River names Hoke Horne as CFO, effective June 24
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June 23, 2015
12:54 EDTHPQPC concerns weighing on shares of Seagate, Western Digital
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10:00 EDTGRPNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Adeptus Health (ADPT) initiated with a Buy at BofA/Merrill... Angie's List (ANGI) initiated with a Hold at Topeka... Avenue Financial (AVNU) initiated with an Equal Weight at Stephens... CASI Pharmaceuticals (CASI) initiated with a Buy at H.C. Wainwright... Corindus (CVRS) initiated with a Buy at Stifel... Coupons.com (COUP) initiated with a Market Perform at William Blair... Five Below (FIVE) initiated with an Outperform at RBC Capital... Franklin Financial Network (FSB) initiated with an Equal Weight at Stephens... Galmed (GLMD) initiated with a Buy at H.C. Wainwright... Genesis Healthcare (GEN) initiated with a Neutral at Susquehanna... Groupon (GRPN) initiated with a Hold at Topeka... GrubHub (GRUB) initiated with a Buy at Topeka... Hercules Technology (HTGC) initiated with a Buy at Compass Point... Immersion (IMMR) initiated with a Buy at Craig-Hallum... Lipocine (LPCN) initiated with a Buy at Canaccord... NeoGenomics (NEO) initiated with a Buy at BTIG... Novadaq (NVDQ) initiated with a Neutral at BTIG... Perrigo (PRGO) initiated with an Outperform at BMO Capital... Signal Genetics (SGNL) initiated with a Buy at Chardan... Standard Motor Products (SMP) initiated with a Neutral at CL King... United Community Financial (UCFC) initiated with a Market Perform at Keefe Bruyette... WP Glimcher (WPG) initiated with a Neutral at Goldman... WhiteWave (WWAV) initiated with a Buy at Maxim... Yelp (YELP) initiated with a Buy at Topeka.
06:29 EDTNEMNewmont Mining reinstated with an Outperform at Credit Suisse
Target $30.
06:19 EDTGRPNGroupon initiated with a Hold at Topeka
Target $6.
06:05 EDTHPQNo clear prospects for PC component suppliers until July, DigiTimes reports
There are no clear business prospects for PC component suppliers until July, reports DigiTimes. According to sources in the supply chain, Intel's decision to delay the launch of its Skylake platform has weakened market demand for notebooks and other PC systems. The planned release of Microsoft (MSFT) Windows 10 may also affect the production of PC makers. Reference Link
June 22, 2015
10:46 EDTPCLNAirbnb to hurt Priceline more than Expedia, Deutsche Bank says
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10:00 EDTPCLNOn The Fly: Analyst Downgrade Summary
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09:09 EDTBKDBrookdale Senior Living announces announces leadership changes to COO and CFO
Brookdale Senior Living announced that Mark Ohlendorf, the company's President and CFO, will transition from his current dual roles to focus on an enhanced role as President. The company also announced that Gregory Richard, the company's COO, will step down effective September 30, 2015. President, Mr. Ohlendorf will immediately assume an active role in the company's operations leadership and will direct Brookdale's innovation initiatives. The ompany has initiated a search process to identify a new CFO and a new COO, and has retained Heidrick & Struggles, an executive search firm, to assist in this process. The company will consider both external and internal candidates. Ohlendorf will continue to serve as the company's CFO until a successor is appointed.
07:19 EDTPCLNExpedia upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Expedia (EXPE) to Buy citing an improving core business and cost synergies from acquisitions. The firm sees a path for Expedia to reach $200 per share over the next five year. It raised its price target for the stock to $130 from $95. Deutsche coupled the upgrade with a downgrade of Priceline (PCLN).
07:17 EDTPCLNPriceline downgraded to Hold from Buy at Deutsche Bank
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06:42 EDTPCLNPriceline downgraded to Hold from Buy at Deutsche Bank
June 19, 2015
18:12 EDTPCLNS&P announces changes to S&P 100, 400, 500, and 600 indices
S&P Dow Jones Indices will make the following changes to the S&P 100, S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices: S&P 500 constituent The Priceline Group (PCLN) will replace Baxter International (BAX) in the S&P 100, Baxalta (BXLT) will replace QEP Resources (QEP) in the S&P 500, QEP Resources will replace Itron (ITRI) in the S&P MidCap 400, and Itron will replace Arch Coal (ACI) in the S&P SmallCap 600 after the close of trading on Tuesday, June 30. Baxter International is spinning off Baxalta in a transaction expected to be completed on that date. Baxter International will remain in the S&P 500 following the distribution, but its post spin market capitalization will no longer make it appropriate for the S&P 100. QEP Resources, Itron and Arch Coal are all ranked near or at the bottom of their current indices. Skechers USA (SKX) will replace Rock-Tenn Co. (RKT) in the S&P MidCap 400, and MiMedx Group (MDXG) will replace Skechers USA in the S&P SmallCap 600 after the close of trading on Tuesday, June 30. S&P 500 constituent MeadWestvaco Corp. (MWV) is combining with Rock-Tenn in a transaction expected to be completed on or about that date. The combined company will remain in the S&P 500 and will change its name to WestRock Co. HealthEquity (HQY) will replace Zep Inc. (ZEP) in the S&P SmallCap 600 after the close of trading on Thursday, June 25. Private equity firm New Mountain Capital is acquiring Zep in a transaction expected to be completed on or about that date pending final approvals.
17:19 EDTPCLNPriceline to replace Baxter in S&P 100 as of 6/30 close
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07:44 EDTHPQTamr receives $25.2M in financing from HP Ventures, Thomson Reuters, others
Tamr announced that it has raised $25.2M in Series B financing from Hewlett Packard Ventures (HPQ); Thomson Reuters (TRI); MassMutual Ventures, the corporate venture capital arm of Massachusetts Mutual Life Insurance Company and others. Current Tamr investors NEA and Google Ventures (GOOG) also participated in the round. Tamr will use the funds to significantly grow sales as well as product engineering for Tamr’s scalable data unification platform.
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