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Stock Market & Financial Investment News

News Breaks
February 21, 2013
12:30 EDTTRIP, SODA, TSLA, OMX, NTAPDecreasing implied volatility stocks: TRIP SODA TSLA OMX NTAP
News For TRIP;SODA;TSLA;OMX;NTAP From The Last 14 Days
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May 17, 2013
18:27 EDTTSLATesla plans to pay back government loan next week, Bloomberg says
Tesla is planning to use $452.4M of the $1.08B the company raised in a debt and equity offering to pay back to the government for its Advanced Technology Vehicles Manufacturing loan, reports Bloomberg, citing two people familiar with the matter that say the company is planning to pay back the loan in full next week. Reference Link
16:00 EDTTSLAOptions Update; May 17, 2013
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15:51 EDTTSLATesla Motors May weekly volatility at 87, July at 61 after capital raise
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15:36 EDTNTAPNetApp May weekly volatility elevated at 61 into Q4
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11:17 EDTTSLARuckus Wireless volatility low, shares trend up on upgrade to Buy at Goldman
Ruckus Wireless June call option implied volatility is at 67, August is at 70, November is at 67; compared to its 20-week average of 73 according to Track Data, suggesting decreasing price movement.
09:37 EDTTSLAActive equity option families trading on open
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09:29 EDTTSLATesla capital raise positive, says Morgan Stanley
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07:54 EDTNTAPNetApp investment thesis continues to play out, says Brean Capital
Brean Capital believes its buy thesis on NetApp continues to play out as expected and expects the company can achieve current Street estimates and manage operating expenses in the near-term. Shares are Buy rated with a $42 price target.
07:32 EDTTSLAUpdate: Tesla 3.394M share Secondary priced at $92.24
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06:09 EDTTSLATesla 2.7M share Secondary priced at $92.24
Goldman acted as sole book running manager for the offering.
May 16, 2013
16:29 EDTTSLAOn The Fly: Closing Wrap
Stocks on Wall Street were lower following some disappointing economic data and a hint from a regional Fed president that the central bank may taper its easing program in the coming months. The averages traded in a narrow range for much of the session before moving lower in the final hour of trading. Comments by San Francisco Fed president John Williams late in the afternoon, suggesting that the central bank may begin slowing its bond buying pace by the summer, may have spurred the late session selling. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 32K to 360K last week, compared to expectations for them to remain relatively stable at 330K. The consumer price index dropped a larger than forecast 0.4% in April, though the "core" CPI rate rose 0.1%, as expected. Housing starts were down 16.5% in April from the prior month, versus an expected decrease of 6.4%, though building permits jumped 14.3% from the prior month, beating an expected increase of 3.8%. The Philadelphia Fed General Business Conditions Index for May came in at -5.2, versus expectations for a +2.2 reading. COMPANY NEWS: Earnings reports from two Dow members, Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. Cisco shares added $2.66, or 12.54%, to $23.87 to lead the blue chip index after the company's results beat expectations on the top and bottom lines. Wal-Mart fell $1.36, or 1.7%, to $78.50 after its first quarter earnings sand second quarter outlook missed the consensus forecast... Tesla Motors (TSLA) last night announced a stock and debt offering of more than $800M, with CEO Elon Musk announcing his intent to buy $100M of the offering, and shares of the electric car maker added $7.36, or 8.67%, to $92.20. MAJOR MOVERS: Among notable gainers was Aegerion (AEGR), up $14.73, or 31.37%, to $61.70 after the company said its Juxtapid treatment may have a $1B global market opportunity and at least two analyst firms raised their price targets on its shares. Also higher was Constellation Brands (STZ), up $1.52, or 3.03%, to $51.76 after the stock was upgraded at Stifel and ISI Group. Among noteworthy losers following analyst downgrades were AMD (AMD), which fell 55c, or 12.56%, to $3.83 after Goldman downgraded the stock to Sell, and CSC (CSC), which slid $2.12, or 4.74%, to $42.59 after being cut to Hold at Deutsche Bank. Also lower following its quarterly report was NetQin Mobile (NQ), down 72c, or 7.5%, to $8.88. INDICES: The Dow was down 42.47, or 0.28%, to 15,233.22; the Nasdaq was down 6.38, or 0.18%, to 3,465.24; and the S&P 500 was down 8.31, or 0.50%, to 1,650.47.
14:39 EDTTSLATesla upsizing convertible bond offering to $525M from $450M, Reuters reports
The company is also revising the price talk to 1.5%-2% with the conversion premium fixed at 35%, from 2%-2.5% and 30%-35%, according to Reuters.
14:34 EDTNTAPNetApp spikes higher on Elliott Management stake news
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14:01 EDTTSLAOptions Update; May 16, 2013
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12:24 EDTNTAP, TSLAOn The Fly: Midday Wrap
The S&P 500 was virtually unchanged at midday following a deluge of domestic economic data this morning. The S&P began the session in negative territory, but only moderately lower, after investors received a host of data prior to the open, including reports on jobless claims, consumer prices, and housing starts. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 32K to 360K last week, compared to expectations for them to remain relatively stable at 330K. The consumer price index dropped a larger than forecast 0.4% in April, though the "core" CPI rate rose 0.1%, as expected. Housing starts were down 16.5% in April from the prior month, versus an expected decrease of 6.4%, though building permits jumped 14.3% from the prior month, beating an expected increase of 3.8%. The Philadelphia Fed General Business Conditions Index for May came in at -5.2, versus expectations for a +2.2 reading. COMPANY NEWS: Earnings reports from two Dow members, Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. Cisco shares advanced 12% to lead the blue chip index after the company's results beat expectations on the top and bottom lines and prompted price target increases at several analyst firms. Wal-Mart, in contrast, lagged all Dow names, sliding 2% after its earnings for the just ended quarter and its view of the current quarter missed the consensus forecast... After the closing bell, Tesla Motors (TSLA) said it intends to raise about $830M by offering 2.7M common shares and $450M in convertible senior notes. CEO Elon Musk will buy $100M worth of the stock and debt, the company said, and its recently high-flying shares rose another 6%. MAJOR MOVERS: Among the notable gainers rising following Cisco's better than expected results and commentary were Ciena (CIEN), which rose 8%, and Cavium (CAVM), which advanced 4%. Also higher were shares of NetApp (NTAP), which gained over 6% after Bloomberg said activist investor Elliott Management has taken a stake in the company and is pushing its board to explore ways to boost shareholder value. Among the noteworthy losers were Oncothyreon (ONTY), which fell 20%, and Biomarin (BMRN), down 5%, after both pharmaceutical companies, among a number of others, published data to be presented at ASCO, an annual meeting of oncologists. Also lower was AMD (AMD), which declined 14% following a downgrade to Sell at Goldman Sachs. INDICES: Near noon, the Dow was up 12.47, or 0.08%, to 15,288.16; the Nasdaq was up 8.74, or 0.25%, to 3,480.36; and the S&P 500 was nearly flat at 1,658.80.
12:24 EDTTSLATesla May 90 straddle priced for 6.2% movement
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12:07 EDTSODAOptions with increasing implied volatility: INFI WCRX SODA LYV HYG
11:40 EDTNTAPActivist fund Elliott takes stake in NetApp, Bloomberg reports
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11:28 EDTNTAPNetApp calls active on report of activist stake into Q4
NetApp May and June 38 total calls are active on total call volume of 13K contracts (6K puts). May weekly call option implied volatility is at 76, June is at 40, September is at 29; compared to its 26-week average of 35 according to Track Data. Active call volume suggests traders taking positions for large near term price movement into the expected release of Q4 results on May 21 and Bloomberg says activist Elliott takes stake.
11:18 EDTNTAPNetApp jumps 5% after Bloomberg says activist Elliott takes stake
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