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Stock Market & Financial Investment News

News Breaks
July 16, 2014
12:26 EDTDISCA, CBS, AAPL, BAC, INTC, FOXA, VIAB, LCI, TXT, BABA, THC, TWX, DIS, IBM, PNC, YHOO, HCAOn The Fly: Midday Wrap
Stocks on Wall Street began the session sharply higher on the heels of solid earnings reports from a few corporate bellwethers as well as some completed acquisition deals and a high-profile rejected one. The market began to lose some steam during the second hour of trading as Fed Chairwoman Yellen began her second day of testimony in Washington on the economy. ECONOMIC EVENTS: In the U.S., the Producer Price Index for June rose 0.4%, which was ahead of expectations for a 0.2% increase. Industrial production grew 0.2% in June, missing the forecast for 0.3% growth. The NAHB homebuilder confidence index rose to 53 in July, ahead of expectations for it to tick up 1 point to 50. The Fed's Beige Book is expected to be released at 2 pm ET. COMPANY NEWS: Shares of HBO parent Time Warner (TWX) jumped more than 15% after it was reported by CNBC and DealBook's Andrew Ross Sorkin that the company had received, and rejected, a takeover offer worth about $80B, or $85 per share, from Rupert Murdoch's Twenty-First Century Fox (FOXA). According to the report, Fox indicated that it would sell its news channel CNN, which could be sought by CBS (CBS) or Disney's (DIS) ABC, as part of the proposal. Before the opening bell both Time Warner and Fox confirmed the report, with Time Warner stating that it rejected the bid since it was "not in the best interests of stockholders" and 21st Century Fox noting that the companies are not currently in discussions. Other media stocks were trading higher after the news, with Discovery Communications (DISCA) rising 6.5% and Viacom class B shares (VIAB) gaining 4%... Shares of Intel (INTC) advanced 7.5% after the semiconductor giant's second quarter results beat analysts' consensus estimates. Among other S&P 500 companies reporting earnings, Textron (TXT) advanced, while Bank of America (BAC) and PNC Financial (PNC) declined... Apple (AAPL) gained 1% and IBM (IBM) advanced more than 2% after the companies announced a deal to partner on mobile products for corporations. MAJOR MOVERS: Among the notable gainers was Tenet Healthcare (THC), which rallied 7% after after another company in the hospital sector, HCA Holdings (HCA), pre-announced stronger than expected second quarter results. For its part, HCA rose 9% after providing better than expected Q2 guidance and increasing its fiscal year outlook. Among the noteworthy losers was Lannett (LCI), which fell 14% after announcing that it has received interrogatories and subpoena from the State of Connecticut Office of the Attorney General concerning its investigation into pricing of the drug digoxin. Also lower after its earnings report was Yahoo! (YHOO), which fell 4.5%. In addition to reporting results, the company announced last night that it has amended its share repurchase agreement with Chinese e-commerce company Alibaba (BABA), reducing the number of shares that Yahoo is required to sell at the IPO to 140M shares from 208M. INDEXES: Near midday, the Dow was up 64.71, or 0.38%, to 17,125.39, the Nasdaq was up 18.55, or 0.42%, to 4,434.94, and the S&P 500 was up 7.08, or 0.36%, to 1,980.36.
News For TWX;FOXA;HCA;THC;INTC;YHOO;BABA;BAC;PNC;TXT;AAPL;IBM;LCI;CBS;DIS;VIAB;DISCA From The Last 14 Days
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January 20, 2015
08:54 EDTBACBank of America upgraded to Conviction Buy from Buy at Goldman
Goldman added Bank of America to the Conviction Buy List with an $18 price target following recent underperformance. The firm continues to believe shares to will be driven by better than expected top-line growth, accelerated capital returns, and a business shift towards less capital intensive earnings streams.
08:07 EDTINTCIntel downgraded at JMP Securities
As noted earlier, JMP Securities downgraded Intel to Underperform from Market Perform. The firm reports that industry sources said there has been a sharp downturn in server activity going into 2015.
07:59 EDTINTCIntel upgrade not warranted due to lack of EPS growth, says Canaccord
Canaccord said it intended to upgrade Intel following its mixed Q4 results, but with estimates for essentially no earnings growth in 2015, the firm could not justify it. As a result, Canaccord raised its price target to $40 from $35 on Intel shares and maintained its Hold rating, but noted it stands ready to upgrade the stock on a pullback.
07:39 EDTIBMIBM January weekly volatility elevated into Q4 and outlook
IBM January weekly call option implied volatility is at 53, February is at 25, April is at 22; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q4 results today after the market close.
07:37 EDTVIABViacom downgraded at Morgan Stanley
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07:35 EDTTWXTime Warner downgraded at Morgan Stanley
As previously reported, Morgan Stanley downgraded Time Warner to Equal Weight from Overweight. The firm downgraded shares based on balanced risk/reward, and downside risk from affiliate fee growth and TV advertising. Price target lowered to $85 from $90.
07:28 EDTBACTreasury Institute for Higher Education to hold a symposium
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07:25 EDTFOXA, DISCAViacom buys 50% stake in five Indian TV channels, WSJ says
Viacom (VIA, VIAB) is completing a deal with India's Reliance Industries giving it 50% ownership of five Indian TV channels for an undisclosed sum, reports the Wall Street Journal. Competitors including Discovery Communications (DISCA), 21st Century Fox (FOX, FOXA), and AMC Networks (AMCX) are similarly looking towards foreign investment as U.S. consumers move away from traditional cable packages. PricewaterhouseCoopers predicts 16% annual growth in Indian TV revenue over the next five years. Reference Link
06:39 EDTYHOO, BABAYahoo to announce Alibaba plans on or before January 27, AP says
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06:38 EDTAAPLApple stops developers in Crimea from creating App Store apps, TechCrunch says
Apple has sent out emails to app developers in Crimea telling them that they can no longer develop iPhone apps, TechCrunch reports. The move is based on new U.S. sanctions against Crimea, the Russian-annexed area of Ukraine. Reference Link
06:30 EDTVIABViacom downgraded to Underweight from Equal Weight at Morgan Stanley
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06:29 EDTTWXTime Warner downgraded to Equal Weight from Overweight at Morgan Stanley
06:12 EDTINTCIntel downgraded to Underperform from Market Perform at JMP Securities
06:06 EDTFOXADreamWorks planning to lay off 'substantial' number of staff, LA Times reports
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06:01 EDTYHOOStocks with implied volatility above IV index mean; HLF YHOO
Stocks with implied volatility above IV index mean; Herbalife (HLF) 113, Yahoo (YHOO) 54 according to iVolatility.
05:36 EDTBABAAlibaba invests in Visualead
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January 18, 2015
16:46 EDTFOXA, TWXWarner Bros.' 'American Sniper' takes top spot with $90.2M at box office
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15:30 EDTBABAAlibaba backed discount website Meituan raises $700M in funding, Bloomberg says
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13:45 EDTAAPLGoogle in talks to acquire mobile-pay platform Softcard, WSJ says
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13:25 EDTCBSNFL, CBS renew agreement for Thursday Night Football
The National Football League will continue its partnership with CBS to produce and televise Thursday Night Football for the 2015 season, it was announced by NFL Commissioner Roger Goodell and Leslie Moonves, president and CEO of CBS Corp., and Sean McManus, Chairman, CBS Sports. CBS will broadcast the first eight Thursday Night Football games which also will be simulcast on NFL Network. NFL Network will also exclusively televise eight games in the run-up to the playoffs. The mix of games will include 14 on Thursday nights and two late-season games on Saturday. The full slate of 16 regular-season games will be produced by CBS with its lead broadcasters and production team on all Thursday night games. The pregame, halftime and postgame shows will continue to feature NFL Network and CBS Sports hosts and analysts. The agreement is for the 2015 season with an additional year at the NFL’s option. “We are pleased to extend our partnership with CBS for Thursday Night Football,” said Goodell. “The promotion and production by CBS and NFL Network last season made Thursday night a night for NFL football. We look forward to working again next season with CBS. ”The programming relationship between the NFL and CBS will expand to include, among other elements, the development of new programming initiatives across the various CBS and NFL platforms. In addition to Thursday Night Football in 2015, CBS will conclude its 56th year broadcasting the NFL with its exclusive presentation of Super Bowl 50 from Levi's Stadium in Santa Clara, Calif. on Feb. 7, 2016. Reference Link
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