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Stock Market & Financial Investment News

News Breaks
August 6, 2014
12:12 EDTWPX, TAP, WAG, FOXA, NUS, ENPH, SFTBF, S, TWX, FUEL, GRPN, BAC, TMUSOn The Fly: Midday Wrap
Stocks on Wall Street began the session in negative territory in what appeared to be a continuation of yesterday’s sell-off. However, by mid-morning the averages crossed into positive territory where they have remained into the lunch hour. Events from abroad continue to move U.S. markets, as European stock markets responded unfavorably to weaker than expected economic data in Italy and Germany, and investors keep an eye on the unfolding stand-offs in Russia and Israel. ECONOMIC EVENTS: In the U.S., the trade deficit narrowed to $41.5B in June from a revised $44.7B in May. In Europe, Italian GDP unexpectedly contracted 0.2% in Q2, putting the country into a technical recession, while German manufacturing orders surprised with a 3.2% June drop. COMPANY NEWS: Shares of Time Warner (TWX) declined nearly 12% despite the company reporting quarterly earnings that surpassed the consensus expectation, as its results were overshadowed by other news, namely 21st Century Fox (FOXA) withdrawing its offer to buy the company. Fox Chairman and CEO Rupert Murdoch said Time Warner management and its board refused to engage and that the reaction in its own share price since its initial proposal was made "undervalues our stock and makes the transaction unattractive to Fox shareholders." Meanwhile, class A shares of 21st Century Fox, which also authorized the repurchase of an additional $6B of its stock, rose 5%... Another deal being abandoned drove shares of another prominent company lower, as Sprint (S) dropped 18% after replacing CEO Dan Hesse with Marcelo Claure and reportedly gave up on its plans to try to combine with the fourth largest U.S. mobile carrier, T-Mobile (TMUS). Shares of T-Mobile also sunk nearly 7%, though The Wall Street Journal, citing a source, said that Iliad (ILIAF) will continue to pursue its bid for T-Mobile, though the French company sees no immediate need to boost its own offer after Sprint and parent Softbank (SFTBF) appear to have walked away... Bank of America (BAC) increased its quarterly dividend to 5c per share from 1c per share, marking the bank’s first quarterly common stock dividend increase in seven years. MAJOR MOVERS: Among the notable gainers was brewer Molson Coors (TAP), which rose 6% after the company's second quarter profits topped expectations. Also higher following their earnings reports were Enphase Energy (ENPH), which gained 20%, and WPX Energy (WPX), which advanced 12%. Among the noteworthy losers was Walgreen (WAG), which dropped 12% after the company exercised its option to acquire the remaining 55% of Alliance Boots that it does not already own but said its purchase of the rest of Boots will not be a "tax inversion" deal, as many had been expecting. Walgreen also authorized a $3B share repurchase program and raised its dividend by 7.1%, though the capital return plans did not appear to be enough to offset investor disappointment over the lack of an inversion pursuit. Also lower following their earnings reports were Groupon (GRPN), which fell 16%, Rocket Fuel (FUEL), which plunged 27%, and Nu Skin (NUS), which declined 24%. INDEXES: Near midday, the Dow was up 53.37, or 0.32%, to 16,482.84, the Nasdaq was up 25.50, or 0.59%, to 4,378.34, and the S&P 500 was up 6.91, or 0.36%, to 1,927.12.
News For TWX;FOXA;TMUS;S;WAG;BAC;SFTBF;TAP;GRPN;ENPH;WPX;FUEL;NUS From The Last 14 Days
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March 18, 2015
07:29 EDTENPHNorthland Capital Markets to hold a conference
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07:10 EDTBACPlatts to hold a forum
11th Annual Steel Markets North America is being held in Chicago on March 17-18.
06:25 EDTNUSCiti calls Nu Skin its 'pot of gold on St. Patrick’s Day'
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06:16 EDTFOXAAmerican Express to launch Plenti loyalty program this spring, WSJ reports
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March 17, 2015
17:19 EDTTWXTime Warner, CBS CEOs discussed possible merger last year, Bloomberg reports
CBS (CBS) CEO Les Moonves and Time Warner (TWX) CEO Jeff Bewkes had discussions about combining their companies in meetings last year, Bloomberg reports, citing three people with knowledge of the matter. Reference Link
15:56 EDTTWXTime Warner, CBS CEOs discussed possible merger last year, Bloomberg reports
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13:06 EDTTWX, FOXABattleground: Analysts take opposite sides on Netflix
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11:36 EDTFOXAApple may launch standalone TV in 2016, says Piper Jaffray
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09:04 EDTTMUST-Mobile offers data rollover to prepaid customers
In a blog post Monday, T-Mobile Chief Marketing Officer Andrew Sherrard stated "This month, we’re taking Data Stash even further. Starting Sunday March 22, Data Stash will start rolling out to Simple Choice prepaid customers. Every single one of our prepaid voice customers with a qualifying Simple Choice plan will start out with a Starter Stash with up to 10 GB of 4G LTE data. And when that’s all used up, they’ll start rolling forward their unused data for use up to a full year. Automatically and at no extra charge... Last year, wireless customers asked to keep their unused data more than 40,000 times − and that was just on Twitter alone." Reference Link
08:34 EDTBACBank of America reinstated with an Outperform at Raymond James
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07:55 EDTTMUST-Mobile to hold a meeting
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05:46 EDTTWXApple set to launch online TV service this year, Financial Times reports
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March 16, 2015
17:08 EDTNUSNu Skin gets direct selling authorization for additional city in mainland China
Nu Skin Enterprises announced it has received approval from China's Ministry of Commerce for the company to commence direct selling activities in Shaoxing City in Zhejiang Province. Nu Skin is now licensed in 30 cities in 19 provinces and municipalities. The licensing process included a review of the company's operations. According to the Shaoxing City government, the city's population was more than 6M in 2013.
15:24 EDTTWXCablevision to provide HBO NOW via Optimum Online
Cablevision (CVC) and Time Warner's (TWX) Home Box Office announced that they have reached an agreement to offer standalone streaming service HBO NOW to Optimum Online customers via the internet. Optimum is the first cable provider to partner with HBO to offer the new service, which is expected to launch in April in time for the fifth season of Game of Thrones, the companies said. Cablevision plans to provide pricing and other particulars for HBO NOW in the coming weeks. Terms of the agreement were not disclosed. Apple (AAPL) and Time Warner announced on March 9 that HBO NOW will premier on Apple devices in April.
10:44 EDTTWXNetflix retreats after cut to sell on competition, cost concerns
The shares of Netflix (NFLX) are falling after research firm Evercore ISI downgraded the stock to Sell from Hold. Increased competition will force the company to increase its investments and the return from those investments is uncertain, the firm contends. WHAT'S NEW: In the U.S., technological advancements are enabling content providers to sell their programming to a wider range of Internet video distributors, Evercore ISI analyst Ken Sena wrote in a note to investors earlier today. Moreover, content providers themselves are now able to stream more of their programming online and obtain higher profits from doing so, Sena reported. The analyst noted that Apple (AAPL) recently obtained a three month exclusive deal to stream content form Time Warner's (TWX) HBO Now, while Yahoo (YHOO), Amazon (AMZN), and Hulu (DIS, CMCSA, NWSA) are all reportedly interested in obtaining streaming rights to "Seinfeld." Netflix's international expansion will not be sufficient to offset the increased competition, especially because foreign viewers are likely to watch less TV and be less interested in paying for TV content, the analyst believes. Furthermore, Netflix will face more competition from other Internet TV services overseas than in the U.S., according to Sena, who cut his 2015 consolidated operating income estimate for the company by 26% to $381M from $517M previously. In addition to cutting his rating, Sena lowered his price target on the shares to $380 from $450. PRICE ACTION: In early trading, Netflix sank $16, or 3.7%, to $422.
10:22 EDTBACBank of America February default rate 2.98% vs. 2.93% last month
Reports February delinquency rate 1.86% vs. 1.83% last month.
March 15, 2015
19:12 EDTFOXA, TWXDisney's 'Cinderella' takes top spot at domestic weekend box office with $70.1M
Rentrak (RENT) announced the official domestic weekend box office estimates for the weekend of March 15, as compiled by the company's theatrical measurement services. Disney's (DIS) "Cinderella" took the top spot at the domestic weekend box office with $70.1M: Warner Bros' (TWX) "Run All Night" took the second spot at the box office with $11M; 20th Century Fox's (FOX, FOXA) "Kingsman: The Secret Service" took third with $6.2M; Warner Bros' "Focus" took the fourth spot at the box office with $5.8M and Sony's (SNE) "Chappie" took fifth place with $5.8M.
March 13, 2015
10:02 EDTSSprint announces plan to reimburse all costs to switch
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06:07 EDTTWXMillenials not completely sold on the Apple Watch, Re/code says
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05:56 EDTTMUST-Mobile management to meet with Gabelli
Group luncheon with management will be held on March 13 hosted by Gabelli.
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