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Stock Market & Financial Investment News

News Breaks
December 17, 2012
16:30 EDTVVUS, S, END, CBOU, CPWR, CLWROn The Fly: Closing Wrap
Stocks on Wall Street finished higher on the day after news out of Washington indicated that compromise on some of the most contentious elements of the fiscal cliff negotiations may be nearing. President Obama and House Speaker John Boehner met for 45 minutes today in Washington after a Washington Post report over the weekend said that the Obama administration had rejected Boehner's most recent offer. The averages opened the session higher and maintained their gains through the day, closing at their highs... ECONOMIC EVENTS: In the U.S., a benchmark for New York state manufacturing, the New York Fed's Empire State Survey, came up negative for a fifth straight month. The December reading, which was forecast to move up to -1.0 from its prior -5.2 level, instead slid to -8.10. In Europe, data showed euro zone exports declined 1.4% in October from the prior month, as imports increased 0.6%. In Asia, Japan elected a new prime minister who has vowed to adopt a large stimulus package, cut interest rates and take other measures to revive growth in the nation's economy... COMPANY NEWS: Sprint (S) struck a deal to acquire the approximately 50% stake in Clearwire (CLWR) it does not already own for $2.97 per share, or $2.2B. Shares of Clearwire traded lower following the news, closing down 47c, or 13.95%, to $2.90, while shares of Sprint were virtually flat on the session, closing up 1c, or 0.18%, to $5.56...MAJOR MOVERS: Among the notable gainers was Caribou Coffee (CBOU), up $3.78,or 30.68%, to $16.10 after agreeing to be acquired by Germany's Joh. A. Benckiser for $16.00 per share in cash, or $340M. Also higher were shares of VIVUS (VVUS), up $1.60, or 13.89%, to $13.07 after a report that prescriptions of the company's weight loss drug Qsymia rose 46% for the weekend ended November 12. Also higher were shares of Compuware (CPWR), up $1.22, or 12.80%, to $10.75 after Elliott Management offered to acquire the company for $11.00 per share in cash, or $2.3B. Among the noteworthy losers was Endeavour (END), which fell $1.11, or 17.62%, to $5.19 after research firm Global Hunter downgraded the stock to Accumulate from Buy and cut its price target on shares to $9 from $13... INDICES: The Dow was up 100.38, or 0.76%, to 13,235.39; the S&P 500 was up 16.78, or 1.19%, to 1,430.36; the Nasdaq was up 39.27, or 1.32%, to 3,010.60.
News For S;CLWR;CBOU;VVUS;CPWR;END From The Last 14 Days
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December 18, 2014
08:18 EDTSSprint Chief Network Officer says 2014 network milestones met
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December 16, 2014
14:11 EDTSSprint may face $105M FCC fine over billing, Bloomberg reports
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13:31 EDTSSprint to conclude NASCAR partnership after 2016 season
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December 15, 2014
07:35 EDTVVUSApricus Biosciences appoints Barbara Troupin, M.D. as Chief Medical Officer
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December 10, 2014
10:24 EDTSSprint retreats after Oppenheimer cuts rating to Underperform amid price war
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10:00 EDTSOn The Fly: Analyst Downgrade Summary
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09:12 EDTSRadioShack threatens bankruptcy if cell phone deals not reworked, NY Post says
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07:58 EDTSSprint downgraded to Underperform from Perform at Oppenheimer
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December 9, 2014
10:28 EDTSVerizon drops after warning about promotional impact on profits
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December 8, 2014
16:18 EDTCPWRCompuware shareholders approve acquisition by Thoma Bravo
Compuware announced that at the special meeting of Compuware shareholders held earlier, shareholders voted to approve the proposed definitive merger agreement with Thoma Bravo. The transaction follows a thorough review by the Compuware Board of Directors of strategic options for Compuware. More than 99% of the shares voting at the special meeting voted in favor of the adoption of the merger agreement. The CEO of Compuware, Bob Paul, stated, “The acquisition by Thoma Bravo provides a great value proposition for Compuware’s shareholders and we are very pleased with the level of support this transaction has received from our shareholders.” Upon completion of the merger, valued at approximately $2.4B, Compuware shareholders will have received an aggregate value of $10.75 per share for each share of Compuware common stock they own as of the effective time of the merger, which includes a net cash payment of $10.389188 per share of common stock as well as the per-share value of the Covisint shares distributed to holders of Compuware equity as of October 20, the record date for the Covisint spin-off. The companies currently expect the merger to be completed later this month, following the satisfaction or waiver of all conditions to the merger.
14:56 EDTSMDC Partners climbs for third day after making announcement on CRM unit
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