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News Breaks | | | | December 21, 2012 | | 16:34 EDT |  | RIMM, YUM, PNK, ASCA, RHT, NKE, HLF, GDI, SPW | On The Fly: Closing Wrap
Stocks on Wall Street were lower on the day, after news last night out of Washington indicated that House Speaker Boehner's 'Plan B' failed to garner enough support for passage in the House, leaving the fiscal cliff unresolved as lawmakers head home for Christmas. Light volume in the markets saw the averages trade in a narrow range following the morning's selloff... 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: After yesterday's close, Research in Motion (RIMM) reported Q3 revenue that beat consensus estimates and quarterly losses that were not as steep as feared, though 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. Shares of RIM opened higher in yesterday's after hours session, but quickly reversed and the weakness continued into today's trading, eventually closing down $3.21, or 22.73%, to $10.91...Yum! Brands (YUM) saw shares down $2.61, or 3.93%, to $63.88, the stock's third straight day of losses following reports that Chinese authorities were testing chicken suspected to have contained an antiviral medicine... MAJOR MOVERS: Among the notable gainers were Pinnacle Entertainment (PNK) and Ameristar Casinos (ASCA), which both rose after Pinnacle agreed to purchase Ameristar for $26.50 per share, or $2.8B. Shares of Pinnacle gained $2.85, or 21.35%, to $16.20 on the news, while Ameristar gained $4.43, or 20.07%, to $26.50. Also higher following earnings reports were Nike (NKE), up $6.10, or 6.16%, to $105.10, and Red Hat (RHT), up $2.38, or 4.52%, to $54.99. Among the noteworthy losers were shares of Herbalife (HLF), down $6.43, or 19.08%, to $27.27 as the company's public fight with Bill Ackman intensifies. Also lower were shares of Gardner Denver (GDI), down $8.14, or 10.78%, to $67.40 after a Reuters report said the company's takeover talks with SPX Corp. (SPW) fell through... INDICES: The Dow was down 120.88, or 0.91%, to 13,190.84; the S&P was down 13.54, or 0.94%, to 1,430.25; the Nasdaq was down 29.38, or 0.96%, to 3,021.01. | |
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News For RIMM;YUM;PNK;ASCA;RHT;NKE;HLF;GDI;SPW From The Last 14 Days Check below for free stories on RIMM;YUM;PNK;ASCA;RHT;NKE;HLF;GDI;SPW the last two weeks. |
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| May 20, 2013 | | 13:32 EDT |  | RHT | Red Hat falls to session lows after downgrade, levels to watch
The shares are down over 4% at time of writing to $52.57, close to the session low at $52.36. At that price, next support is at $51.98. Resistance is at $53.54. BMO Capital earlier downgraded the stock to Market Perform and cut its price target to $54. The firm cited valuation, mixed field checks, and deceleration in most key financial metrics as reasons for the recommendation change and price target reduction. | | | 13:06 EDT | | RHT | On The Fly: Midday Wrap
Stocks on Wall Street were modestly higher at midday as the Dow and S&P seek to continue their march higher after closing last week at record levels. ECONOMIC EVENTS: In the U.S., the light domestic economic calendar included the Chicago Fed National Activity index, which slipped to -0.53 for April from its prior reading of -0.23. In Asia, the Hang Seng and Shanghai Composite both climbed after Chinese home prices were reported to have risen in April. COMPANY NEWS: Yahoo (YHOO) confirmed it is buying social media platform Tumblr for $1.1B, as widely reported over the weekend, and promised "not to screw it up" in its press release to announce the deal... Actavis (ACT) agreed to acquire Warner Chilcott (WCRX) in a stock-for-stock transaction valued at approximately $8.5B. The deal, which was approved by the boards of both companies, equates to a value of $20.08 per Warner Chilcott share based on Actavis' closing share price on Friday, the companies said. MAJOR MOVERS: Among the notable gainers were some other companies with M&A news: Acquity Group (AQ) shares more than doubled after Accenture (ACN) agreed to buy the company for $13.00 per American Depositary Share, and Pactera Technology (PACT) gained 31% after receiving a non-binding proposal from a Blackstone (BX) affiliate to be taken private for $7.50 per ADS. Among the noteworthy losers was XenoPort (XNPT), which fell 11% after one of its drugs failed in a Phase III trial for multiple sclerosis spasticity. Also lower were shares of Red Hat (RHT), which slid 4% following a downgrade to Market Perform at BMO Capital. INDICES: Near 1 pm ET, the Dow was up 13.67, or 0.09%, to 15,368.07; the Nasdaq was up 1.13, or 0.03%, to 3,500.10; and the S&P 500 was up 2.18, or 0.13%, to 1,669.65. | | | 10:36 EDT |  | HLF | Herbalife June volatility low as shares at four-month high
Herbalife May weekly call option implied volatility is at 60, June is at 44, August and November is at 43; compared to its 26-week average of 58 according to Track Data, suggesting decreasing outer month price movement. | | | 07:31 EDT |  | RHT | Red Hat downgraded at BMO Capital
As previously reported, BMO Capital downgraded to Market Perform from Outperform. The firm cites valuation, mixed field checks, and deceleration in most key financial metrics for the downgrade. Price target is $54. | | | 07:22 EDT |  | SPW | Electrical Products Group to host a conference
2013 EPG Conference is being held on Longboat Key, Florida on May 20-22 with webcasted company presentations to begin on May 20 at 7:30 am; not all company presentations may be webcasted. Webcast Link | | | 06:42 EDT | | RHT | Red Hat downgraded to Market Perform from Outperform at BMO Capital
 Subscribe for More Information | | | May 17, 2013 | | 13:21 EDT | | GDI | Options with increasing implied volatility: CPRT BMY GDI HNZ
Subscribe for More Information | | | 08:59 EDT |  | PNK | Pinnacle Entertainment' Ameristar Casinos acquisition receives Nevada approval
Subscribe for More Information | | | May 16, 2013 | | 16:48 EDT | | YUM | Yum! Brands Taco Bell CEO sees doubling revenue to $14B in 10 years
Subscribe for More Information | | | May 15, 2013 | | 17:30 EDT | | SPW | Relational Investors gives quarterly update on stakes
Subscribe for More Information | | | | 17:26 EDT | | HLF | Third Point gives quarterly update on stakes
NEW STAKES: Virgin Media (VMED), Tiffany (TIF), B/E Aerospace (BEAV), Anadarko (APC), and Thermo Fisher (TMO). INCREASED STAKES: International Paper (IP), Abbvie (ABBV), TransDigm (TDG), Constellation Brands (STZ), and Dollar General (DG). DECREASED STAKES: Delphi (DLPH), Murphy Oil (MUR), AIG (AIG), LyondellBasell (LYB), and Liberty Global (LBTYA). LIQUIDATED STAKES: Tesoro (TSO), Morgan Stanley (MS), Symantec (SYMC), Herbalife (HLF), and Illumina (ILMN). | | | 17:03 EDT | | RHT | Soros gives quarterly update on stakes
NEW STAKES: MeadWestvaco (MWV), Brocade (BRCD), Red Hat (RHT), Liberty Global (LBTYK), and VMware (VMW). INCREASED STAKES: Google (GOOG), Liberty Global (LBTYA), EQT Corp (EQT), Charter (CHTR), and US Airways (LCC). DECREASED STAKES: Citigroup (C), AIG (AIG), Apple (AAPL), Invesco (IVZ), and Motorola Solutions (MSI). LIQUIDATED STAKES: JPMorgan (JPM), General Electric (GE), CF Industries (CF), Morgan Stanley (MS), and Capital One (COF). | | | 16:48 EDT | | HLF | Icahn gives quarterly update on stakes
Subscribe for More Information | | | 11:20 EDT | | GDI | Options with increasing implied volatility: QCOR MYGN GDI
Subscribe for More Information | | | 10:14 EDT | | RHT | Red Hat calls active on renewed takeover chatter
Red Hat May and June 55 calls are active on total call volume of 5,300 contracts (58 puts). May call option implied volatility is at 41, June is at 34, September is at 30; compared to its 26-week average of 34 according to Track Data. Active call volume suggests traders taking positions for large movement following renewed takeover chatter. | | | 10:06 EDT |  | RHT | Rumor: Red Hat moves up on renewed takeover chatter
Subscribe for More Information | | | May 14, 2013 | | 08:06 EDT | | NKE | BofA/Merrill's retail analysts hold an analyst/industry conference call
Global Retail Team discusses key global athletic themes including industry trends, sourcing costs outlook and favorite investment ideas on an Analyst/Industry conference call. Relevant covered companies COLM, COST, DKS, FINL, FL, GES, JNY, NKE, PVH, RL, TGT, UA and WMT may be included on the Analyst/Industry conference call to be held on May 14 at 10 am. | | | 07:00 EDT |  | NKE | Nike price target raised to $75 from $65 at Barclays
Barclays expects Nike to return to gross margin expansion in Q3 and that the re-acceleration of futures in the U.S. and China will drive shares higher. The firm rates Nike an Overweight. | | | May 13, 2013 | | 10:12 EDT | | YUM | Yum! Brands falls after reporting 29% China sales decline
Shares of Yum! Brands (YUM) are retreating after the company disclosed that its same store sales had tumbled 29% in China last month, versus the same period in 2012. WHAT'S NEW: The 29% decline in Yum's same-store sales in China, which the company announced on Friday night in an SEC filing, was roughly in-line with the its previous guidance for a decline of about 30%. The outbreak of avian flu in China had a significant negative impact on sales of Yum's KFC restaurants in that country last month, Yum! stated. Historically, the impact of avian flu outbreaks on KFC sales has been "relatively short-lived," Yum! added. ANALYST REACTION: In a note earlier today to investors, Oppenheimer analyst Brian Bittner wrote that Yum's sales in China had probably bottomed last month, as he believes that the avian flu outbreak is unlikely to accelerate. Yum should meet analysts' 2013 consensus estimates, and the company is poised to rebound significantly next year, added the analyst. He kept an Outperform rating on the stock. TODAY'S PRICE ACTION: In early trading, Yum! fell $1.73, or 2.5%, to $68.60. | | | 10:07 EDT | | YUM | Yum! Brands July and October volatility low
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