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Stock Market & Financial Investment News

News Breaks
February 5, 2013
08:15 EDTSPG, GGP, RPAI, EQY, MACOnline threat to malls pushing retail properties out of CMBS, FT says
The proportion of retail properties being put into commercial mortgage-backed securities, or CMBS, has slumped in recent years as the threat of online shopping and tougher competition has led some forecasters to call for up to 15% of U.S. regional malls to close over the next five years, according to Financial Times. Real estate investment trusts that invest in malls include Simon Property Group (SPG), General Growth Properties (GGP), Macerich (MAC), Retail Properties of America (RPAI) and Equity One (EQY). Reference Link
News For SPG;GGP;RPAI;EQY;MAC From The Last 14 Days
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September 16, 2014
12:18 EDTSPGOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, with some attributing the move to noted Fed watcher Jon Hilsenrath of The Wall Street Journal giving the opinion that he does not believe the central bank will drop the language that interest rates will "remain low for an extended period of time" when it issues its latest policy statement tomorrow. The averages began the session in negative territory and appeared to be heading for another listless day of trading. The market drifted lower during the opening hour but the Dow and S&P crossed into positive ground and the Nasdaq eventually followed. ECONOMIC EVENTS: In the U.S., the Producer Price Index was unchanged in August, as expected. The core reading, which excludes food and energy, increased 0.1%, also matching expectations. Of note, the Fed's FOMC rate setting group kicked off its two-day policy meeting. COMPANY NEWS: Shares of Apple (AAPL) slid over 1% after Chinese-language 21st Century Business Herald reportedly said the company might not get the necessary approval to launch its new iPhone 6 models throughout China until next year after failing to come to an agreement with a regulator in the nation. Shares of China Mobile (CHL), which is buy far the largest phone carrier in China, slipped 2% after the report... Glimcher Realty Trust (GRT) surged 29% after it agreed to sell itself to fellow REIT Washington Prime Group (WPG) for $14.20 per share. Washington has agreed to buy Glimcher for about $4.3B in a cash and stock deal. Glimcher shareholders will receive $10.40 in cash and 0.1989 of a share of Washington stock upon the closing of the transaction, the companies stated. As part of the deal, Simon Property Group (SPG), which completed its separation of Washington Prime Group this May, agreed to buy two shopping malls owned by Glimcher for $1.09B in cash. Shares of fellow mall owning REITs CBL & Associates (CBL), Rouse Properties (RSE) and Pennsylvania REIT (PEI) rose following the deal announcement. MAJOR MOVERS: Among the notable gainers was Bill Barrett (BBG), which rose 12% after selling natural gas, oil and natural gas liquids assets in the Piceance Basin in Colorado for $525M to Vanguard Natural (VNR). Vanguard Natural also gained 1% following the deal announcement. Among the noteworthy losers was VirnetX (VHC), which plunged nearly 50% after an appeals court vacated a jurys damages award in its patent case with Apple. Also lower were shares of Atlantic Power (AT), which dropped 32% after announcing that it concluded a sale or merger of the company is not in the best interests of the company or its stakeholders and the company cut its annual dividend. INDEXES: Near midday, the Dow was up 88.18, or 0.52%, to 17,119.32, the Nasdaq was up 16.11, or 0.36%, to 4,535.01, and the S&P 500 was up 11.94, or 0.6%, to 1,996.07.
10:50 EDTGGPOptions with increasing implied volatility
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10:36 EDTSPGGlimcher surges after agreeing to acquisition, REIT peers rise
Shares of Glimcher Realty Trust (GRT) are jumping after it announced earlier today that it had agreed to sell itself to Washington Prime Group (WPG) for $14.20 per share. Glimcher and Washington Prime are a real estate investment trusts, or REITs, that invests in shopping malls and community shopping centers. WHAT'S NEW: Washington has agreed to buy Glimcher for about $4.3B in a cash and stock deal. Glimcher shareholders will receive $10.40 in cash and 0.1989 of a share of Washington stock upon the closing of the transaction, the companies stated. Meanwhile, another REIT, Simon Property Group (SPG), agreed to buy two shopping malls owned by Glimcher - Jersey Gardens in Elizabeth, New Jersey and University Park Village in Fort Worth, Texas - for $1.09B in cash. WHAT'S NOTABLE: In a note to investors today, Wells Fargo upgraded another REIT, CBL & Associates (CBL), to Market Perform from Underperform. In the note, the firm stated that the Glimcher acquisition and Simon Property's purchase of two of Glimcher's malls support its belief that "B" mall asset prices are strong enough to justify a low $20 per share valuation for CBL. PRICE ACTION: In early trading, Glimcher jumped 30% to $13.80, CBL rallied 5% to $18.57, and Washington Prime fell 7% to $17.13. Meanwhile, the shares of two other mall owners, Rouse Properties (RSE) and Pennsylvania REIT (PEI), increased 3% and 5.5%, respectively. Simon Property Group, which completed its separation of Washington Prime Group this May, was up 0.5% following the news.
10:01 EDTMACBofA/Merrill REITs analysts hold an analyst/industry conference call
CMBS Strategist Todd, U.S. REIT Analyst Spector, REIT Fixed Income Analyst Frost, along with CBRE Capital Markets Executive Managing Director Levy discuss their best ideas, current outlook and viewpoints on all things in the commercial real estate sector on an Analyst/Industry conference call to be held on September 19 at 11 am.
September 11, 2014
11:29 EDTGGPOptions with increasing implied volatility
Options with increasing implied volatility: VNET AVNR GPRO RAX FTR JDSU PSEC APD SYY GGP
September 10, 2014
11:23 EDTGGPOptions with increasing implied volatility
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08:56 EDTEQYEquity One 3.825M share Spot Secondary priced at $23.30
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September 9, 2014
16:17 EDTEQYEquity One files to sell 3.825M shares of common stock
The Company intends to use its net proceeds to fund development and redevelopment activities, to repay secured and unsecured debt, and for general corporate purposes Citigroup is acting as the sole underwriter of the offering.
September 8, 2014
17:11 EDTSPGSimon Property may bid for CFS Retail, Business Spectator says
Simon Property Group is expected to pursue the $6.4B CFS Retail and a deal with Melbourne billionaire John Gandel, Business Spectator says. Reference Link

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