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Stock Market & Financial Investment News

News Breaks
May 19, 2014
16:27 EDTITMN, LOCK, CPB, BRCM, TXN, MU, NVDA, AZN, PFE, DTV, TOn The Fly: Closing Wrap
Stocks on Wall Street were higher following a trading day marked by light volume, a quiet economic calendar and two headline making M&A announcements. The averages began the day slightly below the flat line, but within minutes the Nasdaq and S&P 500 made it into positive ground. The Dow followed by the end of the morning, but the averages moved in a narrow range from there. Despite the range-bound trading, the market internals pointed to a pretty broad based move higher, with advancers ahead of declining stocks by almost 2 to 1. ECONOMIC EVENTS: In the U.S., no major domestic economic data was reported. COMPANY NEWS: AT&T (T) shares slid 36c, or 0.98%, to $36.38 after the company confirmed over the weekend that it has agreed to acquire DirecTV (DTV) for $95.00 per share, including $28.50 per share in cash and $66.50 per share in AT&T stock. After the announcement, analysts at Raymond James upgraded AT&T to Buy from Market Perform, noting that they do not expect another buyer to emerge for DirecTV. Meanwhile, DirecTV shares were downgraded to Equal Weight from Overweight at Evercore and to Hold from Buy at Wunderlich. Shares of DirecTV fell $1.53, or 1.77%, to $84.65 after the deal, which has been widely speculated about in the media in recent weeks, was confirmed... Also over the weekend, Pfizer (PFE) raised its bid for AstraZeneca (AZN), but the U.K. drugmaker again rejected this "final" takeover proposal. Shares of Pfizer rose 16c, or 0.55%, to $29.28 after the rejection, while shares of AstraZeneca trading in New York dropped $9.64, or 12.01%, to $70.64. MAJOR MOVERS: Among the notable gainers was InterMune (ITMN), which gained $4.61, or 13.44%, to $38.92 after reporting results from a study evaluating pirfenidone and having its shares upgraded to Outperform at Leerink. Also higher was NVIDIA (NVDA), which rose 58c, or 3.23%, to $18.54 after it was one of several semiconductor stock, along with Micron (MU), Texas Instruments (TXN), and Broadcom (BRCM), that were upgraded to Outperform from Sector Perform by RBC Capital in a note to investors earlier today. Among the noteworthy losers was LifeLock (LOCK), which fell $2.28, or 17.57%, to $10.70 after disclosing that the company is going to temporarily suspend its Wallet mobile application since it is not fully compliant with applicable payment card industry security standards. Also lower were shares of Campbell Soup (CPB), which dropped $1.06, or 2.35%, to $44.06 after the company reported mixed third quarter results and lowered its fiscal 2014 outlook. INDEXES: The Dow was up 20.55, or 0.12%, to 16,511.86, the Nasdaq was up 35.23, or 0.86%, to 4,125.81, and the S&P 500 was up 7.22, or 0.38%, to 1,885.08.
News For T;DTV;PFE;AZN;NVDA;MU;TXN;BRCM;CPB;LOCK;ITMN From The Last 14 Days
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September 8, 2014
07:16 EDTCPBCampbell Soup reports Q4 adjusted continuing ops EPS 49c, consensus 49c
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07:15 EDTPFEIBC Life Sciences to hold a conference
10th Annual Cell Line Development & Engineering Conference to be held in Berkeley, California on September 8-10.
07:02 EDTAZNAstraZeneca announces availability of Bydureon pen 2mg
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September 7, 2014
20:37 EDTTApple's new iPhones face risk as carriers begin subsidy phase out, WSJ says
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September 5, 2014
08:22 EDTNVDANVIDIA lawsuits likely to have positive outcome, says JMP Securities
After NVIDIA (NVDA) filed lawsuits against Qualcomm (QCOM) and Samsung, JMP Securities thinks there is a good chance that NVIDIA will obtain a favorable ruling or settlement that is equal or greater to the $1.5B deal it cut with Intel (INTC),. The firm thinks that other companies, most notably Apple (AAPL), will launch talks with NVIDIA in the wake of the lawsuit. JMP Securities recommends buying NVIDIA ahead of upcoming Apple product refreshes and what it sees as accelerating growth trends for NVIDIA. The firm is upbeat about NVIDIA's new products and reiterates an Outperform rating.
07:54 EDTBRCMBroadcom price target raised to $50, shares attractive, says BofA/Merrill
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07:32 EDTCPBCampbell Soup September volatility up into Q4 and guidance
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07:31 EDTNVDANVIDIA lawsuit positive, says Stifel
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06:41 EDTTFCC head says agency to promote high speed Internet choices, NY Times reports
Stating that fewer than 25% of American homes have access to more than one high speed Internet provider, FCC Chairman Tom Wheeler said the agency would look to promote additional choices in the sector, according to The New York Times. High speed Internet providers include Comcast (CMCSA), Cablevision (CVC), Verizon (VZ), AT&T (T), and Google (GOOG). Reference Link
05:33 EDTTAT&T to offer Moto X, Moto Hint
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05:19 EDTDTVDirecTV calls on Raycom Media to free NFL, college football games
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September 4, 2014
17:15 EDTAZNAstraZeneca granted orphan status for EFGR non-small cell lung cancer treatment
The FDA posted on its website that AstraZeneca has been granted orphan status for its treatment of epidermal growth factor receptor, or EFGR, mutation-positive non-small cell lung cancer. Reference Link
16:13 EDTNVDANVIDIA files patent infringement complaint against Qualcomm, Samsung
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16:05 EDTPFEPfizer granted orphan status for sickle cell disease drug
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14:05 EDTTCiena weakness may create attractive entry point, says Wells Fargo
Wells Fargo believes that Ciena (CIEN) reported solid Q3 results, and the firm was encouraged by the news that the company was named as an AT&T (T) domain 2.0 supplier. However, the firm notes that Ciena's Q4 revenue guidance was lower than expected, partly due to the deal. Nonetheless the firm expects the factors that caused the guidance miss to be transitory, and it is upbeat about the company's outlook for FY15. Wells keeps an Outperform rating on the shares.
12:50 EDTMUMicron's Adams says market different now due to consolidation, diversification
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11:50 EDTTAT&T management to meet with Jefferies
Group dinner to be held in Las Vegas on September 10 in conjunction with the CTIA Conference hosted by Jefferies.
09:31 EDTTAT&T says 4G LTE network now reaches over 300M people
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07:23 EDTPFE, AZNAstraZeneca called for inversion clamp down as part of defense, WSJ says
Amid its defense against an unsolicited takeover bid from rival Pfizer (PFE), AstraZeneca (AZN) hired advisers with close ties to the Obama administration, who made calls to senior administration officials urging a clamp down on tax inversions, said The Wall Street Journal, citing people familiar with the previously undisclosed calls. Reference Link
06:53 EDTMUMicron reinstated with a Buy at Deutsche Bank
Deutsche Bank reinstated shares of Micron with a Buy rating saying the company's improved profitability and free cash flow generation are sustainable. The firm has a $40 price target for shares.
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