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Stock Market & Financial Investment News

News Breaks
June 19, 2014
10:00 EDTPIRPier 1 Imports falls 8.6%
Pier 1 Imports is down 8.6%, or $1.57, to $16.69
News For PIR From The Last 14 Days
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June 30, 2015
12:57 EDTPIROn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday as headlines about Greece once again dominate the news flow. Hopes that Greece may still reach a last-minute deal with its creditors were attributed for the market's early bounce, though optimism and the averages have been dropping as the day continues. ECONOMIC EVENTS: In the U.S., Case-Shiller 20-city composite home price index for April rose by a seasonally adjusted 0.3% month over month, versus the consensus forecast for an increase of 0.8%. The Chicago PMI jumped 3.2 points to 49.4 in June, though that was below the expected reading of 50.0. The Conference Board's consumer confidence index rose to 101.4 in June from a revised 94.6 reading for May, beating expectations for a reading of 97.4. In Europe, Greece's government submitted a proposal for a deal with the eurozone bailout fund to cover its debt repayments due between 2015 and 2017. Jeroen Dijsselbloem said eurozone finance ministers will discuss the Greek request in a conference call tonight, but German Chancellor Angela Merkel reportedly said that no new negotiations should take place before Greek holds its scheduled referendum. COMPANY NEWS: Shares of Pentair (PNR) advanced 5.5% after activist investor Nelson Peltz's Trian Group confirmed it has taken a 7.24% stake in the company. Trian noted it has met with the company’s senior management and communicated its view that the company can create significant value for its shareholders by facilitating "prudent industry consolidation" through accretive mergers and acquisitions as well as by making other changes, such as communicating its results as "cash" EPS... Another company in the sights of an activist, ConAgra (CAG), rose 1.5% after reporting first quarter results that were roughly in-line with expectations while also announcing that plans to exit Private Brands operations. ConAgra CEO Sean Connolly said during the associated call that he wants "constructive conversation" with Jana Partners, which reported earlier this month that it has taken a 7.2% stake in the packaged foods company and is prepared to seek three ConAgra board seats, if necessary, to help the board evaluate and address opportunities for shareholder value creation. MAJOR MOVERS: Among the notable gainers was Juno Therapeutics (JUNO), which jumped 19% after the company announced a ten-year global collaboration for the development and commercialization of immunotherapies with Celgene (CELG). As part of the deal, Celgene will make an initial payment of approximately $1B, which includes the purchase of approximately 9.1M shares of Juno stock at $93 per share. Also higher was TreeHouse Foods (THS), which gained 9% after peer ConAgra announced plans to exit its private brands operations. Among the noteworthy losers was Apollo Education (APOL), which dropped 16.5% and was downgraded at Bank of America Merrill Lynch after the for-profit education company reported higher than expected Q3 earnings but lowered its fiscal 2015 guidance. Also lower were shares of Tuesday Morning (TUES), which fell 13% after announcing that its CFO Jeffrey Boyer has resigned his position to take the same role with Pier 1 Imports (PIR). INDEXES: Near midday, the Dow was down 3.77, or 0.02%, to 17,592.58, the Nasdaq was up 11.24, or 0.23%, to 4,969.71, and the S&P 500 was flat near 2,057.81.
12:24 EDTPIRTuesday Morning CFO departure increases risk, says Sterne Agee CRT
Sterne Agee CRT said the departure of Tuesday Morning (TUES) CFO Jeff Boyer to join Pier 1 Imports (PIR) was unexpected and adds more risk to the story at Tuesday Morning, but the firm keeps its Buy rating on the shares citing its continuing turnaround plans, favorable outlook for the off-price channel and the stock's "compelling" valuation. The firm has an $18 price target on Tuesday Morning shares.
08:35 EDTPIRPier 1 Imports names Jeffrey Boyer as EVP, CFO
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June 25, 2015
14:37 EDTPIRPier 1 Imports downgraded to Underperform from Peer Perform at Wolfe Research
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June 24, 2015
10:19 EDTPIROptions with decreasing implied volatility
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June 23, 2015
10:30 EDTPIROptions with decreasing implied volatility
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June 22, 2015
10:21 EDTPIROptions with decreasing implied volatility
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June 19, 2015
13:38 EDTPIROptions with decreasing implied volatility
Options with decreasing implied volatility: QIHU PIR RHT BLUE KMX RAD KBH ADBE ACM KR

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