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Stock Market & Financial Investment News

News Breaks
August 8, 2014
05:50 EDTVRX, TWXStocks with implied volatility movement; TWX VRX
Stocks with implied volatility movement; Time Warner (TWX) 30, Valeant (VRX) 49 according to iVolatility.
News For TWX;VRX From The Last 14 Days
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March 16, 2015
12:43 EDTVRXOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after stimulus talk out of China and a rally in European stock markets lifted the U.S. market at the open. There was little reaction to the dayís domestic economic reports, which included the Empire manufacturing index, industrial production data, and a homebuilder confidence index. The week's big economic news, however, is yet to come, as investors look forward to the conclusion of the Federal Reserve's latest rate setting meeting on Wednesday. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index dipped to 6.9 in March, versus the consensus forecast for a reading of 8.0. Industrial production edged up 0.1% in February, versus expectations for an increase of 0.2%, and capacity utilization fell to 78.9%, versus the 79.5% consensus forecast. The NAHB homebuilder sentiment index dropped to 53 in March from 55 in February, missing expectation for the index to rise to 56. Oil prices continued to tumble, with U.S. crude dropping to a six-year low below $44 per barrel earlier in the session. In Asia, Chinese Premier Li Keqiang said Sunday that his government has room and the tools to take action should growth falter, without detailing specific remedies the government might pursue. COMPANY NEWS: Valeant (VRX), which not long ago lost out to Actavis (ACT) in the race to buy Allergan (AGN), increased its chances of making sure its latest buyout deal gets done by increasing its takeover offer to Salix Pharmaceuticals (SLXP) by about $1B. Rival bidder Endo Health (ENDP) confirmed that it is withdrawing its cash and stock proposal to acquire Salix after Valeant raised its all-cash bid for Salix to $173 per share from $158 per share. Shares of Valeant and Salix both rose about 2%, while Endo shares gained 2.5% following the announcements. MAJOR MOVERS: Among the notable gainers was Life Time Fitness (LTM), which rose 5% after entering into a definitive agreement to be acquired by private equity firms Leonard Green & Partners and TPG in a transaction valued at more than $4B, or $72.10 per share, in cash. Also higher was Edwards Lifesciences (EW), which rose 8% after the company reported data at this weekend's American College of Cardiology conference. Among the noteworthy losers was iDreamSky (DSKY), which dropped more than 25% after the company lowered its guidance because the launch of a popular casual game was delayed on one of the company distribution platforms and the monetization of another popular casual game was less than expected. Also lower were shares of Enzo Biochem (ENZ), which fell 17% after an appeals court reversed-in-part and vacated-in-part the judgment in Enzoís favor that Life Technologies' (LIFE) Applera Corp. infringed certain Enzo patents. INDEXES: Near midday, the Dow was up 174.81, or 0.98%, to 17,924.12, the Nasdaq was up 39.80, or 0.82%, to 4,911.55, and the S&P 500 was up 20.07, or 0.98%, to 2,073.47.
12:18 EDTVRXProgenics Relistor SI royalty loss transient, says Brean Capital
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10:58 EDTVRXValeant price hike likely ends Salix saga, says UBS
UBS believes the race for Salix (SLXP) is likely over now that Valeant (VRX) has increased its offer price, as expected. The firm said it will still like both Valeant (VRX) and Endo (ENDP) if this is how things end, as it believes the deal is still a very good one for Valeant despite the higher price and it expects Endo to find another deal that should be accretive. UBS has Buy ratings on both Valeant and Endo Health.
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.
10:18 EDTVRXValeant should win Salix with increased offer, says Cantor
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09:22 EDTVRXOn The Fly: Pre-market Movers
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08:17 EDTVRXValeant rises 1% after sweetening Salix takeover offer
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08:06 EDTVRXValeant ses Salix deal closing on April 1
08:05 EDTVRXValeant raises offer price for Salix to $173 per share from $158
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08:04 EDTVRXValeant, Salix agree on amended terms to merger agreement
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07:50 EDTVRXValeant to raise offer for Salix to $173 per share, DJ reports
Dow Jones cites sources.
March 15, 2015
19:12 EDTTWXDisney'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
15:50 EDTVRXValeant announces HSR clearance for acquisition of Salix
Valeant Pharmaceuticals (VRX) announced that it has received early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to its proposed acquisition of Salix Pharmaceuticals (SLXP). The expiration of the waiting period satisfies one of the conditions to consummate the tender offer and Valeant expects to be in the position to close the transaction on April 1.
13:46 EDTVRXValeant to raise Salix bid above $160 per share after Endo entry, NYT says
In response to Endo (ENDP) making a rival bid for Salix (SLXP), Valeant Pharmaceuticals (VRX) now plans to team up with Bill Ackman's Pershing Square and other top shareholders to raises its bid for Salix to above $160 per share, all in cash, according to The New York Times, citing people briefed on the matter. The exact price of Valeantís raised offer was not yet known, the report stated. Salix shares are down about 1% to $168.88 in afternoon trading. Reference Link
13:43 EDTVRXValeant seen hiking Salix bid above $160 per share cash, NYT says
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08:15 EDTVRXAckman says shares of Valeant 'very cheap'
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08:14 EDTVRXAckman says does not view Endo bid for Salix as credible
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08:13 EDTVRXAckman says Endo would be very highly levered with Salix deal
Bill Ackman of Pershing Square is speaking on CNBC.
08:11 EDTVRXAckman says Valeant CEO will not overpay for Salix
Bill Ackman of Pershing Square is speaking on CNBC.
06:07 EDTTWXMillenials not completely sold on the Apple Watch, Re/code says
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