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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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April 15, 2015
06:11 EDTBACRegulators seek to end 'too big to fail' firms, WSJ reports
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April 14, 2015
15:34 EDTBACNotable companies reporting before tomorrow's open
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15:34 EDTBACBank of America April 16 straddle priced for 3.4% movement into Q1
14:38 EDTBACEarnings Watch: Bank of America to report after mixed reviews from Fed
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14:36 EDTBACBank of America technical comments ahead of earnings
The stock is trading up to resistance at the 50-day moving average, last at $15.95. Since November 2013, the stock has been trading in a range bound largely by $15 at the low and $18 at the high. A break of either end of the range would help guide where shares might trade thereafter. Failing news that is sufficiently bullish or bearish, we could expect the stock to trade in the same range until another catalyst emerges. On better news, resistance above current levels would be at $16.62, $17.22, and then at $18. If the news is more bearish than expected, a breakdown below $15 might be probable. In that event next support levels below $15 as downside objectives would be at $14.37 which is the 52-week low and then at $13.49 and $12.80.
12:07 EDTFUELRocket Fuel announces integration with Marketo Ad Bridge
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10:51 EDTTMUS, SGoogle to sell mobile phone plans directly to customers, The Information reports
Google (GOOG) is looking to sell mobile phone plans directly to customers while managing their calls and mobile data over a cellular network, reports The Information. According to people with knowledge of the plans, the new service is expected to run on Sprint (S) and T-Mobile (TMUS) networks. Google expected to reach deals to buy wholesale across to those carriers' networks. A launch this year seems likely. Reference Link
10:01 EDTTAPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AB InBev (BUD) initiated with a Neutral at Susquehanna... AMC Networks (AMCX) initiated with an Overweight at Piper Jaffray... Avery Dennison (AVY) initiated with a Hold at BB&T... Boston Beer (SAM) initiated with a Neutral at Susquehanna... Brocade (BRCD) initiated with a Neutral at Wedbush... Bunge (BG) initiated with an Overweight at Stephens... CIRCOR (CIR) initiated with a Speculative Buy at Global Hunter... Cabot Microelectronics (CCMP) initiated with a Buy at BB&T... Canadian Natural (CNQ) initiated with a Buy at GMP Securities... Cenovus Energy (CVE) initiated with a Hold at GMP Securities... China Distance Education (DL) initiated with a Buy at Brean Capital... Coca-Cola Enterprises (CCE) initiated with a Negative at Susquehanna... Coca-Cola (KO) initiated with a Negative at Susquehanna... Constellation Brands (STZ) initiated with a Neutral at Susquehanna... Discover (DFS) initiated with an Outperform at Wells Fargo... Dr Pepper Snapple (DPS) initiated with a Neutral at Susquehanna... Flex Pharma (FLKS) initiated with a Buy at H.C. Wainwright... Flowserve (FLS) initiated with a Neutral at Global Hunter... Goldman Sachs BDC (GSBD) initiated with a Neutral at BofA/Merrill... ITT Corp. (ITT) initiated with an Accumulate at Global Hunter... Intra-Cellular (ITCI) initiated with an Outperform at RBC Capital... Keurig Green Mountain (GMCR) initiated with a Positive at Susquehanna... Microsemi (MSCC) initiated with a Buy at Topeka... Molson Coors (TAP) initiated with a Positive at Susquehanna... Monster Beverage (MNST) initiated with a Neutral at Susquehanna... New Oriental Education (EDU) initiated with a Hold at Brean Capital... OM Group (OMG) initiated with a Buy at BB&T... Pattern Energy (PEGI) initiated with a Buy at Citigroup... Pentair (PNR) initiated with a Neutral at Global Hunter... PepsiCo (PEP) initiated with a Positive at Susquehanna... Ply Gem (PGEM) initiated with an Overweight at KeyBanc... SodaStream (SODA) initiated with a Positive at Susquehanna... Splunk (SPLK) initiated with an Outperform at Baird... SteadyMed (STDY) initiated with an Outperform at JMP Securities... Suncor (SU) initiated with a Hold at GMP Securities... SuperCom (SPCB) initiated with a Buy at B. Riley... TAL Education (XRS) initiated with a Buy at Brean Capital... Tarena (TEDU) initiated with a Buy at Brean Capital... Ulta Salon (ULTA) initiated with a Buy at Evercore ISI... Versartis (VSAR) initiated with a Buy, $50 target at SunTrust... WisdomTree (WETF) initiated with a Market Perform at Keefe Bruyette... uniQure (QURE) initiated with a Buy at Roth Capital.
10:00 EDTGRPNGroupon core business still key to valuation, says Piper Jaffray
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07:35 EDTBACBank of America April volatility elevated into Q1 and outlook
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07:00 EDTGRPNKKR investor consortium close to deal to buy stake in Ticket Monster, WSJ says
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06:30 EDTTWXTwitter threatens Periscope users who illegally streamed 'GoT,' Mashable says
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April 13, 2015
17:17 EDTTAPMolson Coors initiated with a Positive at Susquehanna
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17:15 EDTTAPMolson Coors initiated with a Positive at Susquehanna
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11:56 EDTTWXMedia companies look to back away from Nielsen guarantees for ads, Variety says
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09:24 EDTBACBank of America shares are cheap, says Morgan Stanley
Morgan Stanley said its sum of the parts of analysis of Overweight rated Bank of America indicates a value of $21. The firm said Bank of America's current share price implies no value for the wealth management division, which it values at $4.84 per share. Morgan Stanley said shares are cheap and recommends purchase.
07:22 EDTFOXAWave of media M&A may be on the way, WSJ says
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07:19 EDTBACbloomberg to hold a summit
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06:24 EDTTWXTime Warner tries to win over TV providers in cord-cutter pitch, WSJ says
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06:06 EDTSSprint introduces Sprint Direct 2 U service
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