New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 10, 2014
13:00 EDTYRCW, HTH, SHLD, SWS, TGT, CHTP, ICPTOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday after a report showed that U.S. hiring slowed markedly in December. The averages began the session in positive territory, as a "bad news is good news" attitude appeared to breifly return to the market, but the market never gained upside momentum. The averages crossed into negative territory before the end of the first hour of trading and have drifted in negative ground since then. ECONOMIC EVENTS: In the U.S., employers added 74K jobs in December, which was the smallest jobs gain since January 2011 and fell well short of expectations for 200K jobs to have been added. The unemployment rate unexpectedly fell to 6.7% from 7% in November, but the drop occurred largely because more people stopped looking for work. In China, the nation's trade surplus of $25.6B for December was below the $32.2B surplus expected. Export growth of 4.3% was slower than the prior month and missed expectations, while imports rose by 8.3%, which was more than expected. In Europe, S&P reaffirmed at its AAA rating on Germany with a stable outlook. COMPANY NEWS: Target (TGT) shares slipped 1% after the company increased its estimate of people affected by its recent security breach to 70 million and said additional information may have been stolen. The company also cut its forecast for the fourth quarter performance of its U.S. unit, noting that it now expects same-store sales will fall about 2.5%, compared with a prior view that they would be flat compared to last year. Target stated that its new expectation reflects stronger-than-expected Q4 sales prior to the company’s announcement of its data breach and "meaningfully weaker-than expected" sales since the announcement... Another department store owner, Sears Holdings (SHLD), plunged 12% after forecasting worse than expected fourth quarter losses and saying domestic comparable store sales for the quarter-to-date fell 5.7% at Kmart and 9.2% at Sears stores in the U.S. MAJOR MOVERS: Among the notable gainers was Intercept Pharmaceuticals (ICPT), which rose another 70% after its stock nearly tripled yesterday following the company's trial of obeticholic acid for the treatment of non-alcoholic steatohepatitis being stopped early for efficacy. Also higher was SWS Group (SWS), which rose about 21% to $7.33 near midday after Hilltop Holdings (HTH) offered to buy the rest of SWS that it doesn't already own for $7 a share in cash and Hilltop stock. Hilltop shares also rose nearly 9% after making the proposal. Among the noteworthy losers was Chelsea Therapeutics (CHTP), which fell 29% after the FDA posted briefing documents related to a review of a resubmission for the company's Northera drug. Also lower were shares of trucker YRC Worldwide (YRCW), which declined 13% after members of the International Brotherhood of Teamsters did not approve the memorandum of understanding extension proposal made by the company. INDEXES: Near 1 pm ET, the Dow was down 35.43, or 0.22%, to 16,409.33, the Nasdaq was down 1.71, or 0.04%, to 4,154.49, and the S&P 500 was down 1.10, or 0.06%, to 1,837.03.
News For TGT;SHLD;ICPT;SWS;HTH;CHTP;YRCW From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 19, 2014
06:26 EDTICPTIntercept price target lowered to $475 from $693 at Citigroup
Citigroup lowered its price target for Intercept shares to $475 on expectations investor concerns around the company's liver fibrosis drug, OCA, will persist. Citi, however, says it remains a buyer of the stock. It believes the level of concern around OCA’s cholesterol effect is overdone. The firm keeps a Buy rating on shares of Intercept.
December 18, 2014
14:39 EDTTGTBacker of Internet sales tax to get powerful Senate post
Subscribe for More Information
06:33 EDTICPTIntercept coverage resumed with a Buy at Sterne Agee
Subscribe for More Information
December 17, 2014
17:47 EDTTGTTarget names Laysha Ward as chief corporate social responsibility officer
Subscribe for More Information
17:44 EDTTGTTarget names Casey Carl as Chief Strategy and Innovation Officer
Target announced that Casey Carl, president, omnichannel and senior vice president, strategy, will assume the role of chief strategy and innovation officer.
08:24 EDTSHLDSears 'strategic misdirection' highlighted by Mygofer failure, WSJ says
Subscribe for More Information
December 16, 2014
10:03 EDTTGTTarget initiated with an Outperform at Cowen
Target $85.
December 15, 2014
11:17 EDTSHLDSears to have about 1,700 Sears, Kmart stores in operation going into 2015
On a company blog post, Sears CEO Eddie Lampert said: "At our most recent Town Hall meeting with our associates, I explained that I want us to operate our stores both profitably and with excellence. Both, not just one or the other.This is the background behind our decision to close more than 200 Kmart and Sears stores in 2014. Most of these stores were losing money, some for a long time. Because of the impact on our dedicated associates and our Shop Your Way members, these decisions were not taken lightly, or without our working to improve the performance of these stores over many years. Going into 2015, we will have approximately 1,700 Sears and Kmart big box stores in operation, representing about 200 million square feet of space." Reference Link
08:58 EDTICPTIntercept reinstated with a Buy at BofA/Merrill
Subscribe for More Information
December 11, 2014
08:57 EDTICPTLeerink major pharma & biotech analysts hold analyst/industry conference call
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use