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Stock Market & Financial Investment News

News Breaks
February 27, 2013
12:28 EDTFSLR, ZGNX, TGT, CBB, DLTR, AH, TJXOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday amid some more encouraging housing data and continued testimony from Fed Chairman Bernanke. The averages began the session in negative territory but almost immediately began to pare their losses. Within the first 30 minutes of trading the market crossed back into positive territory, then continued to advance after the pending home sales data surprised Wall Street with a better than expected move up compared to both the prior month and prior year... ECONOMIC EVENTS: In the U.S., durable goods orders fell 5.2% in January, versus the expected decline of 4.8%. When transportation items are removed from the data, orders were up 1.9%, versus an expected increase of 0.2%. Pending home sales increased 4.5% in January from the prior month, versus an expected increase of 1.9%... COMPANY NEWS: As retailers continue their turn during the nearly finished earnings season, two prominent ones saw their shares move in opposite directions following their quarterly reports. Target (TGT) shares slid about 1% in spite of headline adjusted earnings that were better than expected, while TJX (TJX) rose about over 1% following its report and planned dividend increase... MAJOR MOVERS: Among the notable gainers were Dollar Tree (DLTR), up over 12% following its earnings report, and Zogenix (ZGNX), which rose 35% after Street analysts said the FDA's decision to delay its decision on one of the company's drugs could be a positive. Among the noteworthy losers was Accretive Health (AH), which dropped 25% and was downgraded at Dougherty following its Q4 earnings postponement due to an accounting review. Also lower were shares of Cincinnati Bell (CBB), down 23%, and First Solar (FSLR), down over 14% following their earnings reports... INDICES: Near noon, the Dow was up 115.27, or 0.83%, to 14,015.40; the Nasdaq was up 36.16, or 1.16%, to 3,165.81; and the S&P 500 was up 14.79, or 0.99%, to 1,511.73.
News For TGT;TJX;DLTR;ZGNX;AH;CBB;FSLR From The Last 14 Days
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April 17, 2014
08:41 EDTFSLRFederal Energy Regulatory Commission to hold a meeting
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08:12 EDTFSLRFirst Solar price target raised to $81 from $70 at Argus
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April 16, 2014
16:40 EDTZGNXOn The Fly: Closing Wrap
Stocks on Wall Street were higher after Fed Chair Janet Yellen struck a dovish tone in comments to the Economic Club of New York, which was in step with the minutes of the last FOMC meeting released last week. The Fed also released its latest Beige Book report, which indicated that economic activity increased in most regions after the severe winter weather that gripped much of the country to start the year had let up. Corporate earnings season continues to pick up steam, with Dow members IBM (IBM) and American Express (AXP), as well as Google (GOOG), reporting after the market close. ECONOMIC EVENTS: In the U.S., housing starts in March were up 2.8% from the prior month to a rate of 946K, versus expectations for an increase of 7%. Building permits were down 2.4% to a 990K rate, versus expectations for a decline of 0.4%. Industrial production rose 0.7% in March, which was ahead of the 0.5% forecast. The Fed's Beige Book report indicated that economic activity rebounded and strengthened in most regions over the last six week. In China, data showed its economy grew 7.4% in the first quarter from a year earlier, providing relief after recent signs that growth in the world's second largest economy has been slowing. COMPANY NEWS: Bank of America (BAC) fell 26c, or 1.59%, to $16.13 after the bank reported a first quarter loss of 5c per share, largely due to $6B in legal charges. Excluding the impact of this litigation expense, which was related to a previously announced settlement with the Federal Housing Finance Agency and other legacy mortgage-related matters, the banking major reported earnings that appeared to beat estimates... Yahoo (YHOO) gained $2.14, or 6.26%, to $36.35 after its quarterly report, with investors reacting most positively to the 66% year-over-year revenue growth reported by Chinese e-commerce company Alibaba, in which Yahoo holds a 24% stake. Yahoo's quarterly profit and revenue also beat expectations and the company's CEO Marissa Mayer said during its earnings webcast that the search giant's core business has moved from declining growth to stable to modest growth. MAJOR MOVERS: Among the notable gainers was CBS Outdoor (CBSO), which jumped $1.94, or 6.69%, to $30.96 after the IRS approved a plan for the company, which was just last week spun-off from its parent CBS (CBS), to convert into a real estate investment trust, or REIT. Other companies seeking REIT status, including Equinix (EQIX), Iron Mountain (IRM) and Lamar Advertising (LAMR), also rose following CBS' announcement. Also higher was drugmaker Zogenix (ZGNX), up 48c, or 20.51%, to $2.82 after confirming that a judge prevented a ban on sales of the company's Zohydro pain medication in Massachusetts. Among the noteworthy losers were U.S.-listed shares of Credit Suisse (CS), which fell 54c, or 1.7%, to $31.22 after the Swiss bank reported net income and revenue that fell when compared to the prior year. Also lower were Agnico Eagle Mines (AEM) and Yamana Gold (AUY) after agreeing to jointly acquire Osisko Mining. Angico shares fell $2.61, or 8.56%, to $27.88, while Yamana was down 36c, or 4.3%, to $8.02. INDEXES: The Dow was up 162.29, or 1.0%, to 16,424.85, the Nasdaq was up 52.06, or 1.29%, to 4,086.23, and the S&P 500 was up 19.33, or 1.05%, to 1,862.31.
12:47 EDTZGNXOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the earnings season picks up steam. Stocks began the session sharply higher, with the market attempting to extend the rally that began on Monday. The move upward comes in spite of the dayís housing data coming in below expectations. This afternoon, investors will be watching the Fedís Beige Book report in hopes it provides evidence that the economy is strengthening. ECONOMIC EVENTS: In the U.S., housing starts in March were up 2.8% from the prior month to a rate of 946K, versus expectations for an increase of 7%. Building permits were down 2.4% to a 990K rate, versus expectations for a decline of 0.4%. Industrial production rose 0.7% in March, which was ahead of the 0.5% forecast. The Fedís Beige Book report, which includes anecdotal reports on business conditions in the various Fed districts, is due out at 2:00 pm ET. In China, data showed its economy grew 7.4% in the first quarter from a year earlier, providing relief after recent signs that growth in the world's second largest economy has been slowing. COMPANY NEWS: Shares of Bank of America (BAC) were down over 2% near midday after the company reported a first quarter loss of 5c per share, which was influenced by $6B in legal charges. The $6B in litigation expense, which was related to a previously announced settlement with the Federal Housing Finance Agency and added reserves for other legacy mortgage-related matters, hurt the banks earnings by about 40c per share... Yahoo (YHOO) rose more than 6% after reporting first quarter profit and sales last night that beat expectations. A great deal of attention was also paid to the 66% year-over-year increase in revenue reported by Alibaba, the Chinese group of e-commerce sites in which Yahoo has a 24% stake. This morning, Wells Fargo upgraded its rating on Yahoo to Outperform from Market Perform and raised its price target range for shares to $45-$47 from $38-$40, while Jefferies assumed coverage of Yahoo and also raised its rating on the stock. MAJOR MOVERS: Among the notable gainers was SodaStream (SODA), which surged 9% after an Israeli website said that the company was in talks to sell a 10% or greater stake to a big name company such as PepsiCo (PEP), Dr Pepper Snapple (DPS), or Starbucks (SBUX). Also higher was drugmaker Zogenix (ZGNX), which gained nearly 10% after confirming that a judge prevented a ban on sales of the company's Zohydro pain medication in Massachusetts. Among the noteworthy losers was Agnico Eagle Mines (AEM), which fell 7.5% after agreeing to jointly acquire Osisko Mining in partnership with Yamana Gold (AUY). Yamana shares were also down 3%. Also lower following their earnings reports were ADTRAN (ADTN), which fell nearly 6%, and CSX (CSX), which dropped about 3%. INDEXES: Near midday, the Dow was up 124.14, or 0.76%, to 16,386.70, the Nasdaq was up 37.86, or 0.94%, to 4,072.02, and the S&P 500 was up 13.52, or 0.73%, to 1,856.50.
09:28 EDTZGNXOn The Fly: Pre-market Movers
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09:00 EDTZGNXZogenix rises 9%
Zogenix is up 9%, or 21c, to $2.55
April 15, 2014
18:58 EDTZGNXOn The Fly: After Hours Movers
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16:07 EDTZGNXZogenix confirms reversal of Zohydro sales ban in Massachusetts
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15:33 EDTZGNXZogenix wins reversal of Zohydro sales ban in Mass., Boston Globe says
A federal judge ruled that Massachusetts cannot block sales of Zogenix's Zohydro in the state, as had been previously ordered by Governor Deval Patrick, reports The Boston Globe. Reference Link
14:33 EDTZGNXJudge strikes down ban on Zogenix's Zohydro, Boston Globe says
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April 14, 2014
06:53 EDTTGTTarget breach sparks retail push to upgrade card technology, Bloomberg says
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April 10, 2014
13:14 EDTDLTRFamily Dollar slides after holiday disappointment prompts store closures
Shares of discount retailer Family Dollar (FDO) are falling after the company reported second quarter earnings per share and revenue that fell below expectations, along with third quarter and FY14 projections that are lower than analysts' consensus. WHAT'S NEW: This morning, Family Dollar reported second quarter earnings per share of 80c, which fell below analysts consensus of 90c. The company reported second quarter revenue of $2.72B, while analysts projected $2.77B. Family Dollar, which reported that its second quarter same-store-sales decreased by 3.8%, said the holiday season was challenged by "a more promotional competitive environment and a more financially constrained consumer" and that its results were also significantly impacted by severe winter weather like many retailers. The company expects third quarter earnings per share excluding-items to be 85c-95c, while analysts project a 98c consensus. Family Dollar said that it sees FY14 earnings per share excluding items to be $3.05-$3.25, which is at the lower end of analysts' estimations. Family Dollar noted that it expects to close nearly 370 underperforming stores in the second half of FY14 and slow new store growth beginning in FY15. WHAT'S NOTABLE: During Family Dollar's earnings conference call, the company said that it plans to slow square footage growth in the beginning of FY14 and said that it recently cut about 10% of its corporate workforce. ANALYST OPINION: Wells Fargo analyst Matt Nemer said Family Dollar's third quarter negative comp guidance and commentary about a challenging macro environment could pressure its own shares as well as those of its peers Dollar General (DG) and Dollar Tree (DLTR). However, Family Dollar's store closures combined with a decrease in future store growth could ultimately have positive implications for its competitors, Nemer added. On March 4, Credit Suisse said Family Dollar's underperformance compared to Dollar General and significant earnings possibilities gives the rationale for a potential merger of the two. On February 19, Credit Suisse analyst Michael Exstein suggested that Wal-Mart (WMT) should consider acquiring Family Dollar as a way to "jumpstart" its small store effort. CNBC's David Faber reported the same morning that Exstein published his note that Family Dollar was not holding any talks about selling itself at that time. PRICE ACTION: During afternoon trading, shares of Family Dollar decreased $1.54, or 2.61%, to $57.53, Dollar Tree dropped 2.5%, and Dollar General fell about 1.5%.
10:44 EDTFSLRStocks with call strike movement; FSLR LNKD
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April 9, 2014
09:11 EDTZGNXOn The Fly: Pre-market Movers
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09:00 EDTZGNXZogenix rises 8.9%
Zogenix is up 8.9%, or 23c, to $2.82
05:16 EDTZGNXZogenix requested order staying the ban of Zohydro in MA
Today Zogenix presented its case in U.S. District Court in Boston requesting an immediate order staying the ban on the FDA-approved prescription drug product, Zohydro ER extended-release capsules, entered on March 27, by Massachusetts Governor Deval Patrick. A follow-up hearing has been scheduled for Monday, April 14. The company will continue to monitor, evaluate and take appropriate actions in all states specific to Zohydro ER to ensure that all FDA-approved Schedule II prescription opioids covered by the FDA mandated Risk Evaluation Mitigation Strategy for extended-release and long-acting opioid analgesics receive equal treatment for any rules that impact patient access and prescribing.
April 8, 2014
15:41 EDTFSLRFirst Solar April volatility low on wide price movement
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April 7, 2014
16:15 EDTZGNXZogenix files suit against Massachusetts to block ban of Zohydro ER
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07:04 EDTCBBCincinnati Bell to sell wireless spectrum licenses to Verizon Wireless
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