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Stock Market & Financial Investment News

News Breaks
August 27, 2013
09:21 EDTSAFM, HITK, TIF, LDK, DSW, AKRX, NOK, JCP, BWS, MOV, CPRXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tiffany & Co. (TIF), up 1%... Movado Group (MOV), up 5%... Brown Shoe Company (BWS), up 4.4%... DSW (DSW), up 2%... Sanderson Farms (SAFM), up 2.3%... ALSO HIGHER: Catalyst Pharmaceutical (CPRX), up 64% after receiving breakthrough therapy designation by FDA... Akorn (AKRX), up 7% after agreeing to buy Hi-Tech Pharmacal (HITK). Hi-Tech also up 22%... DOWN AFTER EARNINGS: LDK Solar (LDK), down 12%. LOWER: J.C. Penney (JCP), down 2% after Bill Ackman's Pershing Square sells 39M shares... Acura Pharmaceuticals (ACUR), down 23.5% after results for a clinical trial's primary endpoint were not statistically significant... Nokia (NOK), down 3.6% after Deutsche Bank says company possibly facing another restructuring.
News For TIF;MOV;AKRX;HITK;BWS;DSW;SAFM;JCP;LDK;CPRX;NOK From The Last 14 Days
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March 19, 2015
13:44 EDTTIFTiffany March 85 straddle priced for 5.3% movement into Q3
10:23 EDTTIFHigh option volume stocks
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March 18, 2015
13:30 EDTJCPJ.C. Penney trades lower after news of executive departures
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10:21 EDTAKRXHigh option volume stocks:
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07:32 EDTAKRXAkorn restatement minor, shares attractive, says Jefferies
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07:12 EDTAKRXAkorn shares should recover 'strongly,' says William Blair
William Blair believes shares of Akorn "should recover strongly" with the uncertainty of the annual filing delay being lifted last night. The firm notes management reiterated that the restated financial estimates for 2014 do not affect 2015 guidance. Blair still expects Akorn's 2015 to be a year of "significant cash flow, opportunistic acquisitions, pipeline approvals, and strong growth despite clobetasol competition." It lowered its price target for shares to $58 from $60 and keeps an Outperform rating on the name.
March 17, 2015
19:42 EDTAKRXOn The Fly: After Hours Movers
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16:37 EDTAKRXAkorn to restate Q214, Q314 financial statements
Akorn announced that the company will file its Annual Report on Form 10-K for the year ended December 31 with the U.S. Securities and Exchange Commission on March 17. During the 2014 year-end audit process, an error was identified in the fair value allocation of assets acquired and liabilities assumed in connection with the acquisition of Hi-Tech Pharmacal, which resulted in an overstated chargeback reserve as of April 17. The error, which was identified on March 11, resulted from an overstatement of Hi-Tech's chargeback reserve in connection with applying the acquisition method of accounting at the closing of the Hi-Tech acquisition.The overstatement in the chargeback reserve was caused by a manual error made in preparing the data related to the chargeback reserve whereby there was a duplication of inventory units held by one customer utilized in the calculation of the reserve amount for Hi-Tech products at the acquisition date. The duplication resulted in an overstatement of chargeback reserves by approximately $8.9M for the opening balance sheet of Hi-Tech as of April 17. The chargeback reserve at the end of the quarter ended June 30 was then calculated correctly, resulting in the earlier overstated reserve amount being included in revenue during the quarter ended June 30 . The correction of the error in the quarter ended June 30 resulted in a reduction of previously reported revenue by approximately $8.9M a reduction of previously reported pre-tax income by approximately $8.9M and a reduction of previously reported net income, goodwill and retained earnings by approximately $5.6M, for the company's three and six month periods ended June 30. As a result of that error, the Audit Committee of the Akorn Board of Directors, upon the recommendation of the company's management, concluded that the previously issued financial statements contained in the company's Quarterly Reports on Form 10-Q for the quarters ended June 30 and September 30 should not be relied upon due to an error in the financial statements as of and for the three and six month periods ended June 30 and as of and for the nine month period ended September 30 , and that those financial statements would be restated to make the necessary.
15:41 EDTJCPJ.C. Penney General Counsel Janet Dhillon leaving, Bloomberg says
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09:25 EDTDSWOn The Fly: Pre-market Movers
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08:34 EDTAKRXInSite Vision announces settlement of lawsuit against Mylan
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07:03 EDTDSWDSW sees FY15 EPS $1.80-$1.90, consensus $1.90
Sees FY15 revenue growth of 7%-8%, consensus $2.64B. Sees FY15 comparable sales growth in low to mid-single digit range. The company expects to open 35 new stores, including 8-10 small format stores. Sees FY15 tax rate of 39%.
07:02 EDTDSWDSW board increased quarterly dividend to 20c from 18.75c
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07:01 EDTDSWDSW reports Q4 comparable sales up 7.6%
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07:01 EDTDSWDSW reports Q4 adjusted EPS 35c, consensus 28c
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06:57 EDTJCPJ.C. Penney CMO leaves company, effective immediately, AdAge reports
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March 16, 2015
15:26 EDTDSWNotable companies reporting before tomorrow's open
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14:10 EDTTIFTiffany March volatility elevated into Q3 and outlook
Tiffany March call option implied volatility is at 67, April is at 31, May is at 26, August is at 25; compared to its 26-week average of 26 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on March 20.
12:59 EDTDSWDSW March volatility increases into Q4 and outlook
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08:10 EDTCPRXCatalyst Pharmaceutical reports Q4 EPS ex-items (6c), consensus (7c)
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