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Stock Market & Financial Investment News

News Breaks
July 8, 2014
12:48 EDTTWTR, NFLX, KPTI, FB, IPCI, TSLA, GES, ABBV, TXMD, SHPGOn The Fly: Midday Wrap
Stocks on Wall Street were lower for a second straight session at midday, with a number of tech "momentum stocks" among the hardest hit names. Slides in prominent high-fliers like Netflix (NFLX), Tesla (TSLA), Facebook (FB) and Twitter (TWTR) weighed on the Nasdaq, pushing the tech-heavy index to a nearly 2% decline near noon. The Dow and S&P were lower as well as the slide has been broad-based, with investors express showing caution ahead of the start of the earnings season. ECONOMIC EVENTS: In the U.S., the Job Openings and Labor Turnover Survey, or JOLTs report, showed a 171K increase in job openings to 4.635M, marking a fourth straight monthly gain. A report on consumer credit growth in May is due out at 3:00 pm ET. COMPANY NEWS: AbbVie (ABBV) made a fourth offer to buy Shire (SHPG), raising the price of its bid by 11% to over $51B in cash and stock. For its part, Shire responded by saying that AbbVie did not make the revised proposal to Shire before the announcement and that its board will meet to consider the revised offer. Near noon, Shire shares trading in New York fell 2.7%, while AbbVie slipped 3.2%. MAJOR MOVERS: Among the notable gainers was TherapeuticsMD (TXMD), which jumped 14% to trade near $4.72 after FBR Capital initiated the stock with an Outperform rating and $34 price target. Also higher was apparel designer and retailer Guess (GES), which climbed 5% after research firm Piper Jaffray upgraded the stock to Overweight from Neutral in a note to investors earlier today. Among the noteworthy losers was Karyopharm (KPTI), which slipped 11% after Oppenheimer assumed coverage of its stock with a Perform rating, down from its prior rating of Outperform. Also lower following its quarterly report was Intellipharmaceutics (IPCI), which fell 11% after reporting a net loss for its second fiscal quarter. INDEXES: Near midday, the Dow was down 140.51, or 0.83%, to 16,883.70, the Nasdaq was down 71.67, or 1.61%, to 4,379.86, and the S&P 500 was down 16.85, or 0.85%, to 1,960.80.
News For SHPG;ABBV;GES;TXMD;NFLX;TSLA;FB;TWTR;IPCI;KPTI From The Last 14 Days
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March 19, 2015
12:19 EDTTSLATesla CEO sees first autodrive features coming in about six months
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12:17 EDTTSLATesla CEO sees charging stations for most of U.S. in twelve months
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11:33 EDTTWTR, TSLAStocks with call strike movement; TWTR TSLA
Twitter (TWTR) September 55 call option implied volatility decreased 3% to 42, Tesla (TSLA) June 245 call option implied volatility increased 3% to 41 according to IVolatility.
11:07 EDTFBFacebook volatility at low end of historic range; shares at fresh life high
Facebook March weekly call option implied volatility is at 25, April is at 23, May is at 30; compared to its 26-week average of 32 according to Track Data, suggesting decreasing price movement as shares trade at fresh life high.
11:02 EDTFBFacebook hits fresh life, levels to watch
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11:02 EDTNFLXOptions with increasing implied volatility
Options with increasing implied volatility: HLF RAD NFLX HLSS NOW
10:42 EDTGESOptions with decreasing implied volatility
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10:23 EDTGESHigh option volume stocks
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10:02 EDTGESGuess extends its post-earnings rally, levels to watch
The shares were strong performers in the after hours session yesterday following stronger than expected earnings. That rally is extending today with the shares up over 14% yto $19.11. At that price, next resistance is at $19.79. Support is at the 50-day moving average at $18.74. The 50-day has been a proxy for a hand-drawn downtrend resistance line since early 2014. A continued rise above it would turn the longer-term trend bullish.
09:37 EDTNFLX, TWTR, TSLA, FBActive equity options trading on open
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09:20 EDTGESOn The Fly: Pre-market Movers
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08:47 EDTABBVAbbVie and C2N sign worlwide license agreement for Alzheimer's Disease therapy
AbbVie has entered into an exclusive worldwide license agreement with C2N Diagnostics, a privately held protein diagnostic and therapeutic discovery company, to develop and commercialize a portfolio of anti-tau antibodies for the treatment of Alzheimer's Disease and other neurological disorders. Financial terms of the collaboration were not disclosed.
07:56 EDTABBVAbbVie plans $30M expansion at plant in Puerto Rico, AP reports
AbbVie is planning to expand one of its facilities in Barceloneta, Puerto Rico, The Associated Press reports. The $30M expansion is slated for a plant that manufactures products related to immunology, virology and metabolic disorders. Reference Link
07:15 EDTGESGuess should be sold on post-earnings rally, says Piper Jaffray
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06:55 EDTTWTR, FBCertain news agencies form advertising alliance to rival Google, others, BI says
The Guardian, CNN International, The Financial Times , Reuters (TRI) and The Economist are forming an advertising alliance, called Pangaea, in hopes of rivaling Google (GOOG), Facebook (FB), Twitter (TWTR), and LinkedIn (LNKD), reports Business Insider UK. The Financial Times is owned by Pearson (PSO), The Economist Group is 50% owned by Pearson via The Financial Times, and CNN is owned by Time Warner (TWX). Reference Link
06:54 EDTTSLATesla should be bought aggresively at current levels, says RW Baird
RW Baird said its recent meetings with Tesla management make the firm more comfortable with delivery guidance and the Model X debuting in Q3. The firm believes the company's production should significantly increase throughout the year, that demand is still strong in North America, and that developed markets are still showing growth. Baird said if Tesla shares are pressured today in a “sell the news” reaction to the company's "range anxiety" event, they would be aggressive buyers of the stock and noted that Tesla remains its top pick for 2015. The firm has an Outperform rating and $275 price target on the stock.
06:06 EDTTSLASunrun powers up for IPO later this year, WSJ reports
Sunrun, a solar-energy company, is said to be working with Credit Suisse (CS) and Goldman Sachs (GS) on a potential IPO for later this year, sources tell The Wall Street Journal, which adds that the company was valued at $1.3B as of March 2014. Other solar companies that have gone public in recent years include residential solar installers like Vivint Solar (VSLR), backed by Blackstone (BX), and SolarCity (SCTY), backed by Tesla's (TSLA) Elon Musk. Reference Link
06:00 EDTGESGuess implied volatility of 55 at upper end of index
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05:57 EDTNFLXStocks with implied volatility above IV index mean; BBRY NFLX
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05:42 EDTFBeBay downgraded to Underweight from Neutral at Piper Jaffray
Piper Jaffray analyst Gene Munster downgraded eBay (EBAY) to Underweight, the firm's sell-equivalent rating, saying competition from Google Wallet (GOOG), Apple Pay (AAPL), Facebook (FB) and Samsung will weigh on PayPal's valuation and market share over the next three years. Munster notes shares of eBay are up 12% since the beginning of February due to optimism around the PayPal spin-out. He cut his price target for shares to $49 from $55. The online marketplace and PayPal owner closed yesterday down $1.07 to $58.42.
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