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Stock Market & Financial Investment News

News Breaks
March 11, 2014
12:16 EDTS, MW, WDAY, SAP, ORCL, JIVE, MYGN, AEO, URBN, FCEL, BYD, AAPL, T, VZ, TMUS, JOSBOn The Fly: Midday Wrap
Stocks on Wall Street continued searching for direction near midday, after having spent time about equal time just above and just below the flat-line in the early hours of the session. The averages drifted lower and fell into negative ground near noon, but generally have been range in a band around where they ended yesterday. ECONOMIC EVENTS: In the U.S., wholesale inventories rose 0.6% in January, beating expectations for an increase of 0.4%. The NFIB small business optimism index for February fell to 91.4, which was a worse than expected drop from its prior 94.1 reading. The JOLTS report showed job openings rebounded 60K in January to 3.97M. COMPANY NEWS: Softbank (SFTBF) CEO and Sprint (S) Chairman Masayoshi Son confirmed his interest in buying T-Mobile (TMUS) in a number of television interviews, though clearly noted that he has no formal agreement with T-Mobile and that "steps and details" would have to be worked out if a deal were to move forward. Analysts at Wells Fargo think Son is undertaking a "targeted and very purposeful" public relations effort to help make Sprint's case to purchase T-Mobile and believe his comments regarding a "massive price war" if Sprint was given clearance to pursue a merger could pressure shares of AT&T (T) and Verizon (VZ). Shares of both of the incumbent U.S. wireless leaders were down about 1% at midday as Son's public relations tour continues with an event planned in Washington, D.C... Shares of Apple (AAPL) climbed over 1% after research firm Pacific Crest upgraded the tech giant in a note to investors earlier today, citing the opportunity for a 4.7 inch iPhone 6 to increase Apple's gross profit. A number of media outlets have reported that Apple will release a larger screen iPhone this year, but the company has not confirmed the reports... Another name that spiked near midday was Jive Software (JIVE), which jumped after Re/code said the company has explored a sale in recent months, though the report added that Oracle (ORCL), SAP (SAP) and Workday (WDAY) each passed on making a bid. Shares were off their earlier highs but remained up about 5% near noon... Suit retailers Men's Wearhouse (MW) and Jos. A. Bank (JOSB) ended their long and public courtship as Men's Wearhouse struck a deal to acquire its peer for $65 per share in cash. MAJOR MOVERS: Among the notable gainers was Boyd Gaming (BYD), which jumped more than 16% after activist hedge fund Elliott Associates disclosed a stake in the casino operator. Also higher was alternative energy company FuelCell (FCEL), which rose nearly 15% following its quarterly earnings report. Among the noteworthy losers was Myriad Genetics (MYGN), which fell about 10% after a judge denied the company's motion for preliminary injunctive relief against rival Ambry Genetics. Also lower following their earnings reports and cautious commentary about the current environment were mall-based clothing retailers Urban Outfitters (URBN), which slid over 4%, and American Eagle (AEO), which dropped more than 5%. INDEXES: Near midday, the Dow was down 37.08, or 0.23%, to 16,381.60, the Nasdaq was down 3.20, or 0.07%, to 4,331.25, and the S&P 500 was down 4.88, or 0.26%, to 1,872.29.
News For S;TMUS;VZ;T;AAPL;BYD;FCEL;URBN;AEO;MYGN;JIVE;ORCL;SAP;WDAY;MW;JOSB From The Last 14 Days
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October 17, 2014
10:00 EDTURBNUrban Outfitters plunges after Q3 sales warning
The stock is down over 15% to $29.35, a fresh 52-week low, following a warning on negative sales trends after the bell yesterday. At current price next support is at $27.41. Resistance is at $30.16.
10:00 EDTURBNOn The Fly: Analyst Downgrade Summary
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09:38 EDTAAPLActive equity options trading on
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09:32 EDTAAPLVirnetX files petitions, requests restoration of jury verdict against Apple
VirnetX (VHC) announced that it filed a petition with the U.S. Court of Appeals for the Federal Circuit, requesting a rehearing and rehearing en banc of the Federal Circuit's September 14 decision concerning VirnetX's litigation against Apple (AAPL). In its petition, VirnetX is asking the court to rehear its decision with respect to damages and affirm the district court's damages award against Apple in full because the Federal Circuit's decision is contrary to the patent statute and Supreme Court precedent. VirnetX is also asking the Federal Circuit to reinstate the jury's award that Apple infringed the '504 and '211 patents on the basis that the district court correctly construed the claim term "secure communication link." Kendall Larsen, VirnetX CEO and President said, "We respectfully believe the Court of Appeals for the Federal Circuit erred in certain parts of its decision and are asking it to further review its decision. We look forward to readdressing the decision with the court and remain confident about the strength of our arguments regarding restoration of the jury's damages award."
09:17 EDTURBNOn The Fly: Pre-market Movers
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08:02 EDTURBNUrban Outfitters price target lowered to $41 from $44 at RW Baird
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07:53 EDTAAPLFBI Director urges Apple, Google to change course on encryption, WSJ says
FBI Director James Comey, making his most extensive statements to date on encrypted phones and operating systems in a speech at the Brookings Institution, urged Apple (AAPL) and Google (GOOG) to take a step back, to pause to consider, I hope, a change of course, and called on lawmakers to update federal rules on how the government can intercept and monitor communication, reported The Wall Street Journal. Reference Link
07:30 EDTURBNUrban Outfitters downgraded to Neutral from Buy at Janney Capital
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07:19 EDTAAPLApple 'extremely well' positioned into holiday season, says Cantor
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07:16 EDTMYGNMyriad Genetics receives draft medicare coverage for Prolaris
Myriad Genetics announced that Palmetto GBA, a Medicare Administrative Contractor, or MAC, that assesses molecular diagnostic technologies, has issued a draft local coverage determination, or LCD, for Prolaris, Myriad's prostate cancer test. The LCD is posted to the Medicare Coverage Database on the Centers for Medicare & Medicaid Services, or CMS, website and establishes the coverage policy for Medicare beneficiaries. The current language in the draft LCD provides reimbursement coverage for the approximately 50% of prostate cancer patients defined as low and very low risk. Under Medicare rules, the draft LCD is subject to a minimum 45-day public comment period. After comments are considered, a final LCD is issued, which goes into effect after a minimum 45-day notification period.
07:14 EDTMYGNMyriad Genetics sees FY15 EPS $1.90-$2.00, consensus $1.93
Backs FY15 revenue guidance of $800M-$820M, consensus 804.15M.
07:14 EDTMYGNMyriad Genetics sees Q1 adjusted EPS 25c, consensus 41c
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07:00 EDTMYGNMyriad Genetics trading halted, pending news
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06:53 EDTURBNUrban Outfitters downgraded at Morgan Stanley
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06:34 EDTAAPLApple iPad refresh in-line with expectations, says Deutsche Bank
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06:27 EDTURBNUrban Outfitters downgraded to Equal Weight from Overweight at Morgan Stanley
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06:24 EDTAAPLGlobal notebook shipments estimated at over 45M units, Digitimes Research says
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06:14 EDTAAPLApple debuts iPhone 6 in China, WSJ reports
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06:13 EDTAAPLLVMH could pair with a tech company to launch smartwatch, WSJ reports
LVMH Moet Hennessy Louis Vuitton (LVMUY) says it could team up with with a technology company to launch a smartwatch for one of its brands, the Wall Street Journal reports. Jean-Claude Biver, president of LVMHs watch division, commented "Maybe in nine months, we will have a smartwatch." Publicly traded smartwatch makers include Apple (AAPL), Google (GOOG) and Samsung (SSNLF). Reference Link
05:29 EDTURBNUrban Outfitters downgraded to Neutral from Buy at Goldman
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