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Stock Market & Financial Investment News

News For UBS;FLO;GSK;NOK;SI From The Last 14 Days
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April 15, 2015
13:31 EDTNOKFrench president wants to protect French jobs in Nokia, Alcatel merger, AFP says
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12:30 EDTNOKOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session in positive territory for the fifth time in the past six sessions. The move came amid lower than expected manufacturing data and industrial production figures in the U.S. and a report on Chinese GDP growth that matched expectations. Although the averages remain higher near midday, the market is well off its highs as investors await the release of the Fed’s Beige Book report. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing report had a reading of -1.19, versus expectations for a 7.17 reading. Industrial production fell 0.6% in March, versus expectations for a 0.3% decline. Capacity utilization came in at 78.4% during the month, versus the 78.6% that was forecast. NAHB's homebuilder confidence index climbed to 56 in April, versus expectations for a reading of 55. The Federal Reserve is scheduled to release its Beige Book at 2 pm EDT this afternoon. In China, the nation's GDP grew at a 7.0% rate in Q1, which met expectations but was the lowest level of quarterly growth since 2009. A number of March data releases came in below expectations in China, including reports on industrial production, retail sales and fixed investments. In Europe, the European Central Bank kept interest rates unchanged. COMPANY NEWS: The European Commission announced it has opened a formal investigation of whether Google’s (GOOG, GOOGL) conduct in relation to its Android mobile operating system as well as applications and services for smartphones and tablets has breached EU antitrust rules. The Commission also sent a Statement of objections to Google alleging the company has abused its dominant position in the markets for general internet search services in the European Economic Area by favoring its own comparison shopping product in its general search results pages. For its part, Google's SVP of Google Search Amit Singhal said the company "respectfully but strongly" disagrees with the need to issue a statement of objections and looks forward to making its case... After Intel (INTC) reported results that were in-line with its preannouncement and estimated that its 2015 revenue would be roughly flat year-over-year, shares rose 4.5%. However, analysts disagreed on the company's ability to meet its revised outlook, with Wedbush upgrading the stock to Outperform from Neutral, but Citi saying that the company's guidance was too bullish and keeping a Neutral rating on the shares. MAJOR MOVERS: Among the notable gainers was Celsion (CLSN), which gained 20% after the company announced interim data from its ongoing open-label Phase 2 DIGNITY Trial of ThermoDox in recurrent chest wall breast cancer. Also higher was gunmaker Smith & Wesson (SWHC), which gained 13% after raising its guidance, citing orders throughout its fiscal fourth quarter that have been stronger than originally anticipated. Among the noteworthy losers was Alcatel-Lucent (ALU), which dropped 19% after agreeing to merge with Nokia (NOK) in an all-share transaction that values Alcatel-Lucent at EUR 15.6B on a fully diluted basis. Also lower were shares of Precision Castparts (PCP), which fell 3% after the company issued fourth quarter guidance, said it was making headcount reductions and the stock was downgraded at DA Davidson. INDEXES: Near midday, the Dow was up 56.39, or 0.31%, to 18,093.09, the Nasdaq was up 24.52, or 0.49%, to 5,001.81, and the S&P 500 was up 9.80, or 0.47%, to 2,105.64.
11:53 EDTGSKGlaxoSmithKline initiated with a Sell at Societe Generale
10:00 EDTNOKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Tower (AMT) upgraded to Outperform from Neutral at Macquarie... Ameriprise (AMP) upgraded at Morgan Stanley... Builders FirstSource (BLDR) upgraded to Buy from Neutral at Sterne Agee... China Telecom (CHA) upgraded to Outperform from Market Perform at Bernstein... China Unicom (CHU) upgraded to Outperform from Underperform at Bernstein... Discover (DFS) upgraded to Overweight from Neutral at JPMorgan... EV Energy (EVEP) upgraded on asset sale at RBC Capital... GoPro (GPRO) upgraded to Overweight from Neutral at Piper Jaffray... Intel (INTC) upgraded on valuation at RBC Capital... Nike (NKE) upgraded to Overweight from Neutral at Piper Jaffray... Nokia (NOK) upgraded to Market Perform from Underperform at Bernstein... Rice Energy (RICE) upgraded to Buy from Neutral at Goldman... Staples (SPLS) upgraded to Buy from Hold at BB&T... Team (TISI) upgraded to Buy from Hold at BB&T... Ulta Salon (ULTA) upgraded to Overweight from Neutral at Piper Jaffray.
09:08 EDTNOKOn The Fly: Pre-market Movers
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07:51 EDTNOKFlextronics in advanced talks for part of Chinese jv of Alcatel, Reuters says
Flextronics (FLEX) is in advanced talks to acquire the manufacturing unit of Alcatel-Lucent's (ALU) Shanghai Bell joint venture, reported Reuters, citing two people with knowledge of the deal. Nokia (NOK) and Alcatel-Lucent have announced their intention to combine in all-share transaction. Reference Link
07:46 EDTNOKEricsson, Juniper in focus for deals after Nokia-Alcatel tie-up, Bloomberg says
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07:11 EDTNOKNokia upgraded to Market Perform from Underperform at Bernstein
Bernstein upgraded Nokia (NOK) to Market Perform with a $9.20 price target following the company's buyout of Alcatel-Lucent (ALU).
07:10 EDTNOKAlcatel-Lucent downgraded to Market Perform from Outperform at Bernstein
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06:41 EDTUBSECB authorizes new emergency funding for Greek banks, Reuters reports
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06:27 EDTNOKNokia initiates review of strategic options for HERE business
Nokia (NOK) announces that it has initiated a review of strategic options, including a potential divestment, for its HERE business. HERE is a leader in navigation, mapping and location intelligence. Nokia also announced a proposed combination with Alcatel-Lucent (ALU). The Board of Directors of Nokia believes this is the right moment to assess the position of HERE within the proposed new Nokia business.The strategic review of HERE is on-going and it may or may not result in any transaction. Any further announcements about HERE will be made as appropriate.
05:48 EDTNOKAlcatel-Lucent down 16% following Nokia transaction.
05:44 EDTNOKNokia holders to own 66.5% of new company, Alcatel-Lucent holders to own 33.5%
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05:42 EDTNOKAlcatel-Lucent CEO says combined company is 'compelling offer' for holders
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05:35 EDTNOKNokia maintains dividend, maintains target to return to investment-grade rating
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05:27 EDTNOKNokia sees Alcatel-Lucent acquisition accretive to FY17 non-IFRS earnings
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05:23 EDTNOKNokia, Alcatel-Lucent to combine in all-share transaction
Nokia (NOK) and Alcatel-Lucent (ALU) announce their intention to combine to create an innovation leader in next generation technology and services for an IP connected world. The two companies have entered into a memorandum of understanding under which Nokia will make an offer for all of the equity securities issued by Alcatel-Lucent, through a public exchange offer in France and in the United States, on the basis of 0.55 of a new Nokia share for every Alcatel-Lucent share. The all-share transaction values Alcatel-Lucent at EUR 15.6B on a fully diluted basis, corresponding to a fully diluted premium of 34%, equivalent to EUR 4.48 per share, and a premium to shareholders of 28%, equivalent to EUR 4.27 per share, on the unaffected weighted average share price of Alcatel-Lucent for the previous three months. This is based on Nokia's unaffected closing share price of EUR 7.77 on April 13. Each company's board has approved the terms of the proposed transaction, which is expected to close in the first half of 2016. The proposed transaction is subject to approval by Nokia's shareholders, completion of relevant works council consultations, receipt of regulatory approvals and other customary conditions.
05:19 EDTNOKNokia, Alcatel-Lucent to combine in all-share transaction
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April 14, 2015
16:53 EDTNOKOn The Fly: Top stock stories for Tuesday
Stocks on Wall Street were mixed for the day, beginning the session in positive territory helped by better than expected earnings reports from JPMorgan (JPM), Johnson & Johnson (JNJ), and Wells Fargo (WFC). The early economic data was slightly below Wall Street expectations and became a headwind for the market. By the end of the first hour of trading the market had turned negative, and it spent the remainder of the day trading in mixed fashion. ECONOMIC EVENTS: In the U.S., retail purchases for March advanced 0.9%, bouncing up from a 0.5% decline in February. However, economists had predicted a 1.1% growth after improvements on last month's weather. The producer price index grew 0.2% for March, in line with consensus estimates. Core PPI grew 0.2% versus expectations of 0.1% growth. The International Monetary Fund's World Economic Outlook Report trimmed U.S. growth forecast to 3.1% from its previous outlook of 3.6%, while global forecast was left unchanged at 3.5%. COMPANY NEWS: Avon (AVP) surged 66c, or 8.24%, to $8.67 following a Wall Street Journal report that the company is exploring strategic alternatives, including potentially selling its North American business, though a Bloomberg report later in the day claimed the company is not conducting a formal sale process... Nokia (NOK) confirmed it is in "advanced discussions" to buy French telecom firm Alcatel-Lucent (ALU), prompting French President Francois Hollande to schedule meetings with leaders from both companies. Later in the day, the French government announced it supports the potential deal, with French Economy Minister Emmanuel Macron stating Nokia reassured officials by detailing "clear undertakings." Nokia fell 34c, or 4.1%, to $7.96 at the close, while Alcatel jumped 58c, or 13.33%, to $4.93. MAJOR MOVERS: Among the notable gainers was 58.com (WUBA), which rallied 33.52%, or $17.04, to $67.87 after the Financial Times reported the company has signed a memorandum of understanding to merge with rival classifieds service Ganji.com. Also higher was PartnerRe (PRE), which advanced 8.49% to $129.25 after EXOR proposed to acquire the company for $130.00 per share in cash, valuing PartnerRe at $6.4B. Following earnings, JPMorgan (JPM) advanced 1.56% to $63.04 after beating expectations, while Wells Fargo (WFC) fell 0.73% and Johnson & Johnson fell 0.03% after reducing its FY15 earnings guidance. Among the noteworthy losers was Arrowhead Research (ARWR), which tumbled 7.75% after Jefferies downgraded the stock to Hold and lowered its price target to $9 from $30. The firm said that while ARC-520 offers the potential for a Hepatitis B virus functional cure, it prefers to wait for multi-dosing data. Also lower was Norfolk Southern (NSC), which dropped 4.18% to $100.49 and was downgraded to Hold at TD Securities following first quarter guidance that fell below expectations. INDEXES: The Dow rose 59.66, or 0.33%, to 18,036.70, the Nasdaq lost 10.96, or 0.22%%, to 4,977.29, and the S&P 500 advanced 3.41, or 0.16%, to 2,095.84.
14:20 EDTNOKFrench government supporting potential Nokia, Alcatel-Lucent deal, Reuters says
The French government has decided to back the potential takeover of Alcatel-Lucent (ALU) by Nokia (NOK), according to Reuters. French Economy Minister Emmanuel Macron said Nokia provided "clear undertakings" that reassured him about the potential deal, the news service stated. Reference Link
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