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Stock Market & Financial Investment News

News Breaks
May 29, 2014
06:07 EDTRSHRadioShack implied volatility of 160 at upper end of index mean range
News For RSH From The Last 14 Days
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September 15, 2014
09:16 EDTRSHOn The Fly: Pre-market Movers
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08:07 EDTRSHAmazon.com should consider buying some RadioShack stores, says SunTrust
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07:02 EDTRSHRadioShack appoints Holly Etlin as interim CFO
Etlin replaces John Feray, who resigned on September 12, citing personal reasons. Etlin, a managing director of AlixPartners and longtime RadioShack advisor, served as RadioShack's interim CFO from July 2013 to February 2014.
06:24 EDTRSHRadioShack liquidation could lift Best Buy comps, says Deutsche Bank
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September 12, 2014
17:03 EDTRSHRadioShack mulling $585M financing package from UBS, Standard General, WSJ says
Radioshack is mulling a $585M financing package led by hedge fund Standard General and investment bank UBS in an attempt to save the electronics retailer from bankruptcy, The Wall Street Journal reports, citing people familiar with the matter. Standard General would arrange $260M, and UBS would arrange $325M to replace GE Capital's $585M loan and credit facility, which would loosen some of the restrictions in GE Capital's loan and give Radioshack quicker access to cash through the holiday season, the people added. Reference Link
07:08 EDTRSHB. Riley believes a meaningful recapitalization of RadioShack unlikely
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September 11, 2014
12:16 EDTRSHOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. Initial jobless claims, reported prior to the open, did little to stoke buying after coming in higher than expected. The market has drifted off its lows of the session but the averages once again remain range bound. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 11K to 315K in the week ended September 6, versus expectations for them to tick down slightly to 300K. The Federal budget for August is scheduled to be reported at 2:00 pm ET, with a deficit of $130.0B forecast. COMPANY NEWS: Shares of yoga-inspired apparel maker lululemon (LULU) rose over 15% after the company reported better than expected second quarter results and increased its fiscal year guidance. Meanwhile, shares of another well-known retailer, RadioShack (RSH), advanced 16% after its own quarterly report, despite acknowledging it will need additional capital to complete its turnaround and that it may need to pursue a bankruptcy filing. MAJOR MOVERS: Among the notable gainers was JDSU (JDSU), which advanced 11% after announcing last night that it plans to separate into two publicly traded companies, namely an optical components and commercial lasers one and another focused on network and service enablement. This morning the stock was upgraded at RBC Capital to Outperform, as the firm believes that the split should enable the entities to streamline their costs and that the shares could reach a $40 value over the long-term. Also higher was Taminco (TAM), which rose nearly 11% and traded above the $26.00 per share price it agreed to in striking a deal to be acquired by Eastman Chemical (EMN). Of note, the deal includes a "go shop" provision under which Taminco may solicit alternative acquisition proposals for a thirty day period. Following the announcement, Eastman shares rose a bit over 1%. Among the noteworthy losers was E2open (EOPN), which plunged 30% and was downgraded at Pacific Crest and Northland after the company pre-announced Q2 results and issued weaker than expected 2015 revenue guidance. Also lower were shares of China's 21Vianet (VNET), which fell 17% after the company hosted a conference call to discuss the recent allegations made by a short seller. INDEXES: Near midday, the Dow was down 40.49, or 0.24%, to 17,028.22, the Nasdaq was down 12.73, or 0.28%, to 4,573.80, and the S&P 500 was down 3.66, or 0.18%, to 1,992.03.
09:37 EDTRSHActive equity options trading on open
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09:23 EDTRSHRadioShack CEO says excited about Holiday, 'more robust' Black Friday strategy
RadioShack (RSH) says the company has become a "top five" Apple (AAPL) retailer. RadioShack says its is working on enhanced capabilities for its e-commerce platform.
09:18 EDTRSHOn The Fly: Pre-market Movers
UP AFTER EARNINGS: lululemon (LULU), up 15%... Sigma Designs (SIGM), up 7%. ALSO HIGHER: JDSU (JDSU), up 13.8% after announcing that it will separate into two publicly traded companies... Wet Seal (WTSL), up 4.5%, upgraded at B. Riley following Q2 earnings results... Gogo (GOGO), up 5% after announcing partnership with T-Mobile (TMUS)... Digital Ally (DGLY), up 8.4% after announcing plans to introduce "bullet camera" option at October police conference. DOWN AFTER EARNINGS: Restoration Hardware (RH), down 5%... Five Below (FIVE), down 5.6%. LOWER: Radio Shack (RSH), down 8% after reporting Q2 losses, stating that it may need to pursue bankruptcy... E2open (EOPN), down 29%, downgraded at Pacific Crest and Northland after the company announced preliminary Q2 earnings results... Twitter (TWTR), down 1% after announcing that it will offer $1.3B in convertible unsecured senior notes... Crocs (CROX), down 2.6% after downgraded at Buckingham... Macy's (M), down 1.3% after downgraded at Sterne Agee.
09:07 EDTRSHRadioShack CEO says turn-around pace 'simply not fast enough'
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07:53 EDTRSHRadioShack says will need liquidity, may need to pursue bankruptcy
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07:09 EDTRSHRadioShack restructuring overhaul develops, Reuters says
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07:04 EDTRSHRadioShack says improving sales trend to continue into Q3
The company added that it has nonetheless been challenged by persistent industry-wide decline in consumer electronics and soft mobility market. CEO Joseph Magnacca said, ""The postpaid mobility business drove the majority of the weak performance this quarter due to lackluster consumer interest in the current handset assortment, consumers waiting for an iconic handset launch this fall, and intense promotional activities by the wireless carriers."
07:03 EDTRSHRadioShack CEO: We may need additional capital to complete turnaround
CEO Joseph Magnacca added, "As a result, we are actively exploring options for overhauling our balance sheet and are in advanced discussions with a number of parties. We are also working with our key financial stakeholders, including our existing lenders, bondholders, shareholders and landlords seeking to create a long-term solution. This may include a debt restructuring, a store base consolidation program, and other measures to make significant reductions in our cost structure. The details of a recapitalization have yet to be finalized, and we are reviewing several alternatives, some of which would require consent from our lenders. There is no pre-determined outcome to this work and, of course, we cannot be certain as to the outcome from the current discussions."
07:02 EDTRSHRadioShack reports Q2 adjusted loss of $101.5M, compared to $62.9M a year ago
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03:27 EDTRSHRadioShack loan being prepped by UBS, Standard General, Bloomberg says
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September 10, 2014
18:28 EDTRSHRadioShack loan being prepped by UBS, Standard General, Bloomberg says
According to three people with knowledge of the situation, UBS is working with Standard General on loans for RadioShack as it tries to avoid bankruptcy, Bloomberg reports. Reference Link
15:51 EDTRSHRadioShack loan being prepped by UBS, Standard General, Bloomberg says
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September 9, 2014
09:55 EDTRSHRadioShack price target cut to $0, bankruptcy likely, says Wedbush
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