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News Breaks
February 24, 2014
06:04 EDTTWTR, SINA, CS, YHOO, GSSina preparing to float Weibo in the U.S., FT reports
Sina (SINA) is said to be preparing to float its Weibo microblogging platform in New York, the Financial Times reports. Sina has hired Goldman Sachs (GS) and Credit Suisse (CS) to manage the IPO, according to the FT. Sina owns 71% of Weibo and is looking to raise about $500M through the deal; Alibaba has an 18% stake in Weibo. Reference Link
News For SINA;GS;CS;TWTR;YHOO From The Last 14 Days
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August 14, 2015
12:37 EDTTWTR, GSOn The Fly: Top stock stories at midday
Stocks began the session with modest losses, despite a stabilization in the Chinese yuan overnight. Relatively in line data on producer prices and industrial production did not hurt the situation, but there was also the lack of a catalyst. As a result, the market has drifted throughout the morning session moving up as much as 0.4% before paring its gains. The market is now struggling to hold onto its meager gains. ECONOMIC EVENTS: In the U.S., both industrial production and PPI beat estimates, with industrial production increasing 0.6% and PPI increasing 0.2%. Consumer sentiment for August fell to 92.9 in the preliminary report from the University of Michigan survey, after slipping to 93.1 in July from 96.1 in June. Meanwhile, Euro-area GDP rose 0.3% last quarter. Germany's economy grew 0.4%, Italy's 0.2%, while France stagnated. The Baker Hughes North American rig count report is out at 1 p.m. ET. COMPANY NEWS: General Electric (GE) announced an agreement to sell GE Capital Bank's U.S. online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA (GS). Under this agreement approximately $16B of deposits will be transferred to GS Bank. Separately, Goldman Sachs is selling its Colombia coal mining division to privately held Murray Energy. General Motors (GM) is boosting production of its larger SUVs and trucks, according to Reuters. The automaker could make as many as 60,000 additional vehicles for the 2016 model year to capitalize on rising demand. Meanwhile, GM is recalling 73,424 small cars because improper wiring could prevent the roof-mounted driver's side air bag from deploying after a crash, the Associated Press reported. SunTrust analyst Robert Peck said he believes Twitter (TWTR) could announce a permanent CEO as early as next week. Peck continues to think Twitter is likely to unveil a "Triumvirate of leadership" with Jack Dorsey as CEO, Adam Bain as COO and Evan Williams with more board influence, possibly Chairman. Tesla's (TSLA) secondary offering of 2.7 million common shares was priced at $242 each, according to an SEC filing. That represents an increase from the 2.1 million shares Tesla had previously announced for the offering. MAJOR MOVERS: Among the notable gainers following their earnings reports were department store retailers Nordstrom (JWN) and J.C. Penney (JCP), which gained 5.35% and 5.95%, respectively. Also higher was WuXi PharmaTech (WX), up 5.45%, which reported earnings and entered into an agreement to be acquired by a management buyout group for around $3.3B. Cyberark Software (CYBR) also gained 1.8% after being upgraded to Outperform from Market Perform at Wells Fargo. Among the noteworthy losers was El Pollo Loco (LOCO), which dropped 18% after its Q2 revenue fell short of analysts' estimates. Also lower were shares of King Digital (KING), which declined nearly 12% after reporting quarterly earnings and forecasting gross bookings for the third quarter $460M-$485M, citing "recent trends." The company said fourth quarter gross bookings would be "fairly consistent sequentially." JPMorgan downgraded King Digital this morning to Neutral from Overweight citing an elevated risk profile following the results. INDEXES: Near midday, the Dow was up 42.43, or 0.24%, to 17,450.68, the Nasdaq was fractionally lower by 2.96, or 0.06%, to 5,030.59, and the S&P 500 was up 3.46, or 0.17%, to 2,086.89.
11:12 EDTTWTRStocks with call strike movement; WMB TWTR
Williams (WMB) November 57.50 call option implied volatility decreased 1% to 46, Twitter (TWTR) January 32 call option implied volatility increased 1% to 51 according to IVolatility.
10:13 EDTTWTRAnalyst says Twitter CEO decision could come next week
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09:37 EDTTWTRActive equity options trading on open
Active equity options trading on open: AAPL TWTR FB NFLX TSLA QIHU JCP BABA BP
09:36 EDTTWTRTwitter may name permanent CEO next week, says SunTrust
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08:32 EDTGSGoldman Sachs sells Colombia Natural Resources to Murray
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06:12 EDTGSGoldman Sachs sells Colombia Natural Resources to Murray, Reutes reports
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August 13, 2015
18:10 EDTGSGoldman Sachs to pay $272M in subprime mortgage case, Reuters says
Goldman Sachs has agreed to a $272M settlement in a lawsuit involving mortgage-backed securities sold in the years 2007-2008, reports Reuters, citing court filings. Reference Link
17:37 EDTGSEight banks agree to pay $2B to settle currency rigging suit, Reuters says
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16:24 EDTGSGeneral Electric to sell online deposit platform to Goldman Sachs Bank USA
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16:23 EDTGSGeneral Electric to sell online deposit platform to Goldman Sachs Bank USA
16:00 EDTYHOOOptions Update; August 13, 2015
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10:13 EDTYHOOYahoo 'compelling' after Alibaba-driven pullback, analysts say
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10:00 EDTYHOOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: A. Schulman (SHLM) upgraded to Buy from Accumulate at Global Hunter... American Capital Agency (AGNC) upgraded to Buy from Neutral at Compass Point... Annaly Capital (NLY) upgraded to Buy from Neutral at Compass Point... Aramark (ARMK) upgraded to Outperform at Baird... Bernstein upgrades Yahoo (YHOO), says shares pricing in 'almost' worst case scenario... BreitBurn Energy (BBEP) upgraded to Neutral from Sell at UBS... CAE (CAE) upgraded to Buy from Hold at Desjardins... Capital One (COF) upgraded at Argus... Coca-Cola Enterprises (CCE) upgraded to Outperform from Underperform at CLSA... Community Health (CYH) upgraded to Outperform from Market Perform at Raymond James... EZchip (EZCH) upgraded to Buy from Hold at Brean Capital... Enzymotec (ENZY) upgraded to Outperform from Market Perform at Wells Fargo... Extra Space Storage (EXR) upgraded on positive catalysts at BMO Capital... Green Plains (GPRE) upgraded to Buy from Neutral at Goldman... Legg Mason (LM) upgraded to Overweight from Equal Weight at Barclays... Lincoln National (LNC) upgraded to Overweight at Morgan Stanley... Merck (MRK) upgraded on improved pipeline outlook at BMO Capital... Microsoft (MSFT) upgraded to Buy from Hold at Stifel... Monster Beverage (MNST) upgraded to Overweight from Equal Weight at Morgan Stanley... National Research (NRCIB) upgraded to Overweight from Equal-Weight at First Analysis... Qlik Technologies (QLIK) upgraded to Buy from Hold at Deutsche Bank... Spectra Energy Partners (SEP) upgraded to Overweight from Neutral at JPMorgan... Yahoo (YHOO) upgraded to Outperform from Market Perform at Bernstein.
09:28 EDTTWTRTwitter Periscope growth to 10M users an incremental positive, says Jefferies
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08:08 EDTYHOOBernstein upgrades Yahoo, says shares pricing in 'almost' worst case scenario
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07:36 EDTYHOOYahoo upgraded to Outperform from Market Perform at Bernstein
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06:50 EDTGSDanoff bullish on Wells Fargo, other banks, Reuters reports
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06:28 EDTGSCiti 'bad-bank' unit reports four straight profitable quarters, WSJ reports
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05:55 EDTYHOOYahoo risk/reward compelling at current levels, says UBS
UBS analyst Eric Sheridan lowered his price target for Yahoo (YHOO) to $51 from $57 to reflect a downward revision to his target for Alibaba (BABA). Post the China-based e-commerce giant's earnings yesterday, Sheridan lowered his Alibaba price target to $101 from $112. However, at Yahoo's closing price last night of $34.49, Sheridan believes the market is assigning little to no probability of a tax-efficient outcome for the company's Alibaba and Yahoo Japan (YAHOY) stakes. While further downside risk in shares of Alibaba is a risk, the risk/reward on Yahoo shares is "compelling" at current levels, Sheridan tells investors in a research note. He keeps a Buy rating on the stock.
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