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Stock Market & Financial Investment News

News Breaks
June 23, 2014
16:17 EDTNSPH, ETN, PRKR, WEC, MTOR, TEG, QCOMOn The Fly: Closing Wrap
Stocks on Wall Street began the session in negative territory and remained there for most of the session, though a late day rally allowed the Nasdaq to move very narrowly into positive territory. Preliminary, or "flash," manufacturing index readings in the U.S. and China rose from last month and indicated expansion, but a similar reading in Europe fell from its May level. The major averages drifted throughout the day and remained in a narrow range, as the Dow remained below the 17,000 milestone for another day. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing purchasing managers index for June rose to 57.5 from 56.4 in May. Existing home sales beat estimates with a 4.9% May rise to a 4.89M rate. In China, HSBC's flash manufacturing PMI rose to 50.8 from 49.4 last month, hitting a seven-month high and moving into expansion territory for the first time this year. In Europe, Markit's euro zone flash composite purchasing managers' index, which measures activity across both the manufacturing and services sectors, fell to 52.8 in June from 53.5 in May. COMPANY NEWS: Shares of radio frequency technologies and products company ParkerVision (PRKR) crashed $3.16, or 63.07%, to $1.85 after a Florida judge ruled in favor of its competitor, Qualcomm (QCOM), in a patent infringement case between the two. ParkerVision confirmed that on Friday, June 20, a judge granted Qualcomm's motion for non-infringement but denied Qualcomm's motion for invalidity. ParkerVision CEO Jeffrey Parker said, "While we are pleased that the court upheld the jury's decision that the patents are valid, we are obviously disappointed with the District Court's ruling that judgment be entered for Qualcomm on non-infringement. We will appeal this latest ruling on non-infringement." In October 2013 a jury had found that ParkerVision's down-conversion technology patents were valid and infringed by Qualcomm and awarded ParkerVision $172.7M in damages. MAJOR MOVERS: Among the notable gainers was small-cap Nanosphere (NSPH), which surged 20c, or 14.6%, to $1.57 after it was selected by HealthTrust as a provider of multi-target molecular diagnostic tests for the nearly 1,400 acute care facilities that are part of the HealthTrust membership. Also higher was Integrys (TEG), which jumped $7.40, or 12.14%, to $68.35 after agreeing to be acquired by Wisconsin Energy (WEC) in a transaction valued at $9.1B. Wisconsin Energy shares slid $1.62, or 3.45%, to $45.27 following the deal announcement. Among the other noteworthy losers was Meritor (MTOR), which fell $1.91, or 13.09%, to $12.68 after industrial products maker Eaton (ETN) agreed to pay its joint venture, ZF Meritor, $500M to settle a lawsuit that alleged Eaton had sought to stifle competition in the truck transmission market. Wells Fargo analyst Andrew Casey wrote that the $500M amount was lower than most had expected, since Eaton may have had to pay $1.4B-$2.4B if the size of the payment had been decided through a trial. Eaton shares trading in New York advanced $1.68, or 2.17%, to $79.24 following the settlement deal. INDEXES: The Dow fell 9.82, or 0.06%, to 16,937.26, the Nasdaq gained 0.64, or 0.01%, to 4,368.68, and the S&P 500 slipped 0.26, or 0.01%, to 1,962.61.
News For PRKR;QCOM;MTOR;ETN;TEG;WEC;NSPH From The Last 14 Days
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May 27, 2015
16:06 EDTNSPHNanosphere announces 18 studies using Verigene tests recently presented
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06:13 EDTQCOMTech companies look for ways to fend off activist investors, WSJ reports
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May 26, 2015
17:41 EDTNSPHPerella Weinberg Partners reports 9.3% passive stake in Nanosphere
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16:14 EDTNSPHSWK Holdings reports 6.4% passive stake in Nanosphere
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May 25, 2015
12:37 EDTQCOMQualcomm, Daimler announce strategic collaboration on connected car technology
Daimler AG (DDAIF) and Qualcomm Technologies, a subsidiary of Qualcomm (QCOM), announced a strategic collaboration focused on vehicle innovation. In the first phase of the collaboration, the companies will focus on developing vehicles with mobile technologies such as 3G/4G connectivity, wireless charging technology, and implementation of the Qualcomm "Halo" wireless electric vehicle charging technology. In addition, the companies are jointly assessing the application of Qualcomm's newly developed "Automotive Solutions." Qualcomm Technologies is collaborating with Daimler on its wireless power transfer 2.0 program for electric vehicles. The Qualcomm Halo technology could allow Daimler customers to charge their electric vehicles and plug-in hybrid EVs without having to plug them in. In addition, Qualcomm WiPower technology enables consumer electronics to charge wirelessly in-vehicle.
May 22, 2015
09:58 EDTMTOROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Allison Transmission (ALSN) initiated with a Buy at Stifel... Avago (AVGO) initiated with a Buy at Mizuho... Blackstone (BX) initiated with a Positive at Susquehanna... Cellectis (CLLS) initiated with an Outperform at Oppenheimer... Cypress Semiconductor (CY) initiated with a Buy at Mizuho... Esperion (ESPR) initiated with a Sell at Chardan... H&R Block (HRB) initiated with an Overweight at Piper Jaffray... Horizon Pharma (HZNP) initiated with an Outperform at Leerink... M/A-COM (MTSI) initiated with a Buy at Goldman... Meritor (MTOR) initiated with a Hold at Stifel... Micron (MU) initiated with a Buy at Mizuho... Monster Worldwide (MWW) initiated with a Neutral at Piper Jaffray... NXP Semiconductors (NXPI) initiated with a Buy at Mizuho... National Storage (NSA) initiated with a Sector Weight at KeyBanc... ON Semiconductor (ON) initiated with a Buy at Mizuho... Qorvo (QRVO) initiated with a Buy at Goldman... SanDisk (SNDK) initiated with a Neutral at Mizuho... Sharps Compliance (SMED) initiated with a Buy at Stifel... Skyworks (SWKS) initiated with a Buy at Mizuho... StemCells (STEM) initiated with a Buy at Cantor... Synaptics (SYNA) initiated with a Buy at Mizuho... Synergy Pharmaceuticals (SGYP) initiated with a Buy at Canaccord... Texas Instruments (TXN) initiated with a Neutral at Mizuho... TriNet (TNET) initiated with a Neutral at Piper Jaffray... Vascular Biogenics (VBLT) initiated with a Buy at Roth Capital... Verifone (PAY) initiated with an Outperform at Imperial Capital... uniQure (QURE) initiated with an Outperform at Oppenheimer.
06:06 EDTMTORMeritor initiated with a Hold at Stifel
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May 21, 2015
15:54 EDTTEG, WECPSCW approves Wisconsin Energy acquisition of Integrys Energy
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07:32 EDTQCOMQualcomm initiates $5B accelerated share repurchase
Qualcomm announced that it has entered into accelerated share repurchase agreements with two financial institutions to repurchase an aggregate of $5B of Qualcomm's common stock, with an initial delivery of approximately 57.7M shares. The final number of shares to be repurchased will be based on the volume-weighted average stock price of Qualcomm's common stock during the term of the transaction, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR Agreements. The company is funding the accelerated share repurchase with proceeds from its recently completed $10B debt offering.
May 18, 2015
07:19 EDTETNElectric Products Group to hold a conference
EPG 2015 is being held in Longboat Key, Florida on May 18-20 with webcasted company presentations to begin on May 18 at 7:30 am; not all company presentations may be webcasted. Webcast Link
May 15, 2015
17:33 EDTQCOMPoint72 Asset Management gives quarterly update on stakes
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10:55 EDTQCOMJANA Partners gives quarterly update on stakes
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May 14, 2015
11:05 EDTQCOMQualcomm expands industry collaboration to grow Internet of Everything
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