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Stock Market & Financial Investment News

News Breaks
December 21, 2012
12:21 EDTMU, HLF, RHT, NKE, NOK, ASCA, RIMM, PNKOn The Fly: Midday Wrap
Stocks on Wall Street were sharply lower at midday after Republicans failed to back Speaker Boehner's "Plan B" fiscal cliff bill, meaning lawmakers will go home for the Christmas holiday with the cliff still looming. Today's volume is heavy, as is typical for options expiration day, but investors seem to care less about the latest economic reports and remain focused on the impact the fiscal cliff may have on the economy next year... ECONOMIC EVENTS: Reports showed U.S. personal income rose 0.6% in November, versus the expected increase of 0.3%. Consumer spending climbed 0.4% in the month, which matched expectations. Durable goods orders rose 0.7% in November, versus the expected increase of 0.3%. Excluding transportation items, orders jumped 1.6%, versus the expected decline of 0.2%. The final University of Michigan Consumer Confidence reading for December was revised down to 72.9 from a prior 74.5 reading. Analysts called for it to rise slightly to 75.0... COMPANY NEWS: Research in Motion (RIMM) jumped higher in after-market trading immediately after its report that Q3 revenue beat consensus estimates and its quarterly losses were not as steep as feared. However, shares reversed and the weakness extended into today's trading session after the company said on its conference call that it plans to introduce a lower enterprise service tier, which multiple Wall Street analysts said may cut into one of its highest margin revenue streams. The company also agreed to a patent deal with Nokia (NOK), under which it will make a one-off payment and pay ongoing fees to it smartphone rival. Shares of Research in Motion plunged over 18% in afternoon trade, while Nokia slid nearly 5%... MAJOR MOVERS: Among the notable gainers were Pinnacle Entertainment (PNK) and Ameristar Casinos (ASCA), which both rose after Pinnacle agreed to purchase its fellow casino operator for $26.50 per share, or $2.8B. Shares of the buyer rose over 18%, while Ameristar jumped nearly 20%. Also higher were shares of Nike (NKE), which rose almost 5%, and Red Hat (RHT), up nearly 4%, after their earnings reports. Among the noteworthy losers were Herbalife (HLF), down more than 14% as the company's public fight with Bill Ackman intensifies, and Micron (MU), down 8% following its worse than expected quarterly results... INDICES: Near noon, the Dow was down 175.99, or 1.32%, to 13,135.73; the Nasdaq was down 45.81, or 1.50%, to 3,004.58; and the S&P 500 was down 19.77, or 1.37%, to 1,423.92.
News For RIMM;NOK;PNK;ASCA;NKE;RHT;HLF;MU From The Last 14 Days
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May 19, 2015
08:06 EDTRHTRed Hat announces OpenStack shared file system service
Red Hat announced a technology preview of Red Hat Gluster Storage with capabilities from the OpenStack community’s new Manila project. Expanding the options for hybrid cloud storage, Red Hat Gluster Storage now provides enterprises with a scale-out shared file system service for OpenStack cloud infrastructures.
07:27 EDTNKESkechers moves into second place in U.S. sports footwear market, WSJ says
Skechers (SKX) moved past Adidas (ADDYY) and into second place, behind Nike (NKE), in the U.S. athletic footwear market, reports the Wall Street Journal. Reference Link
May 18, 2015
16:00 EDTMUOptions Update; May 18, 2015
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13:37 EDTNOKBaidu, Uber teaming up to pursue Nokia's maps unit, Bloomberg reports
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12:12 EDTHLFHerbalife dips after FTC says to announce 'major consumer fraud' case
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10:57 EDTMUMicron May weekly calls active
Micron May weekly 26.5 and 27 weekly calls are active on total call volume of 35K contracts (3K puts). May weekly call option implied volatility is at 36, June is at 32, July is at 34; compared to its 90-day average of 35, active call volume suggests traders taking positions for large near term price movement.
10:32 EDTMUMicron management to meet with JMP Securities
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May 15, 2015
16:28 EDTMUAppaloosa Management gives quarterly update on stakes
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16:01 EDTMUOptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
10:40 EDTMUStocks with call strike movement; MU AMAT
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08:44 EDTMUMicron estimates lowered on weaker pricing at Nomura
Nomura lowered Micron estimates due to on-going softness in pricing due to the persistent weak PC backdrop. The firm lowered its August quarter earnings estimate to 61c from 75c, 2015 earnings estimate to $2.83 from $3.33, and 2016 to $3.33 from $3.75. Shares are Neutral rated with a $25 price target, down from $28.
08:16 EDTMUSamsung not engaged in DRAM price war with Micron, says Jefferies
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May 14, 2015
19:47 EDTHLFHerbalife responds to court's final approval of class action settlement
Herbalife issued the following statement: “Herbalife welcomes the decision by the U.S. District Court for the Central District of California to grant final approval of the class action settlement in the matter of Dana Bostick v. Herbalife International of America Inc et al. As we have consistently stated, we believe that the settlement is fair, reasonable and adequate to class members, and we note the court found that the low number of claimants was not surprising in light of the substantial survey results indicating that most people join Herbalife to become discount consumers of our products."
May 13, 2015
14:32 EDTPNKISS recommends Pinnacle shareholders vote for six proposals protecting rights
UNITE HERE announced that proxy advisory firm Institutional Shareholder Services recommends shareholders of Pinnacle Entertainment (PNK) support six shareholder proposals aiming to protect shareholder rights in the event of a spin-off. The proposals address shareholder rights at any spin-off company, including management’s proposal to spin-off real estate assets into a new REIT, or Gaming and Leisure Properties’ (GLPI) alternative plan to spin-off an operating company and then acquire the remaining real estate assets. UNITE HERE submitted the package of corporate governance proposals for the May 19 Annual Meeting.
07:21 EDTRHTCredit Suisse to hold a conference
4th Annual Disruptive Technology Conference is being held in San Francisco on May 13-14 with webcasted company presentations to begin on May 13 at 10:35 am; not all company presentations may be webcasted. Webcast Link
May 12, 2015
18:47 EDTHLFCasino union requests Herbalife investigation, Reuters says
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14:07 EDTMUFollow-up: Micron downgraded to Hold at Drexel Hamilton
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13:36 EDTMUMicron downgraded to Hold from Buy at Drexel Hamilton
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07:51 EDTMUDeutsche Bank to hold a conference
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07:45 EDTRHTJefferies to hold a conference
2015 Global Technology, Media and Telecom Conference is being held in Miami on May 12-14.
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