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Stock Market & Financial Investment News

News Breaks
January 29, 2014
05:50 EDTCHL, WBAI500.com enters strategic partnership with China Mobile subsidiary
500.com (WBAI) announced that it has signed a strategic partnership agreement with China Mobile E-commerce, a subsidiary of China Mobile Limited (CHL), to expand the reach and ease with which payments can be made for the company's mobile sports lottery products. The agreement will provide easy and convenient payment services to users regardless of device, through China Mobile's vast network. According to the terms of the agreement, 500.com will work in close cooperation with each of China Mobile E-commerce's provincial branches, leveraging their on-the-ground knowledge of local market conditions to localize its mobile sports lottery products. The company will provide lottery purchase and information services to China Mobile users through its internet, mobile apps, WAP and SMS channels. 500.com will maintain full control of the product design, development, operation and promotion.
News For WBAI;CHL From The Last 14 Days
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September 16, 2014
16:27 EDTCHLOn The Fly: Closing Wrap
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12:18 EDTCHLOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, with some attributing the move to noted Fed watcher Jon Hilsenrath of The Wall Street Journal giving the opinion that he does not believe the central bank will drop the language that interest rates will "remain low for an extended period of time" when it issues its latest policy statement tomorrow. The averages began the session in negative territory and appeared to be heading for another listless day of trading. The market drifted lower during the opening hour but the Dow and S&P crossed into positive ground and the Nasdaq eventually followed. ECONOMIC EVENTS: In the U.S., the Producer Price Index was unchanged in August, as expected. The core reading, which excludes food and energy, increased 0.1%, also matching expectations. Of note, the Fed's FOMC rate setting group kicked off its two-day policy meeting. COMPANY NEWS: Shares of Apple (AAPL) slid over 1% after Chinese-language 21st Century Business Herald reportedly said the company might not get the necessary approval to launch its new iPhone 6 models throughout China until next year after failing to come to an agreement with a regulator in the nation. Shares of China Mobile (CHL), which is buy far the largest phone carrier in China, slipped 2% after the report... Glimcher Realty Trust (GRT) surged 29% after it agreed to sell itself to fellow REIT Washington Prime Group (WPG) for $14.20 per share. Washington has agreed to buy Glimcher for about $4.3B in a cash and stock deal. Glimcher shareholders will receive $10.40 in cash and 0.1989 of a share of Washington stock upon the closing of the transaction, the companies stated. As part of the deal, Simon Property Group (SPG), which completed its separation of Washington Prime Group this May, agreed to buy two shopping malls owned by Glimcher for $1.09B in cash. Shares of fellow mall owning REITs CBL & Associates (CBL), Rouse Properties (RSE) and Pennsylvania REIT (PEI) rose following the deal announcement. MAJOR MOVERS: Among the notable gainers was Bill Barrett (BBG), which rose 12% after selling natural gas, oil and natural gas liquids assets in the Piceance Basin in Colorado for $525M to Vanguard Natural (VNR). Vanguard Natural also gained 1% following the deal announcement. Among the noteworthy losers was VirnetX (VHC), which plunged nearly 50% after an appeals court vacated a jury’s damages award in its patent case with Apple. Also lower were shares of Atlantic Power (AT), which dropped 32% after announcing that it concluded a sale or merger of the company is not in the best interests of the company or its stakeholders and the company cut its annual dividend. INDEXES: Near midday, the Dow was up 88.18, or 0.52%, to 17,119.32, the Nasdaq was up 16.11, or 0.36%, to 4,535.01, and the S&P 500 was up 11.94, or 0.6%, to 1,996.07.
10:52 EDTCHLApple, China Mobile trade lower as iPhone 6 unlikely to debut in China this year
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10:05 EDTWBAI500.com could beat Q3 guidance, says 86 Research
86 Research believes 500.com could beat Q3 guidance driven by strong sports betting and lottery sales.
09:59 EDTWBAIOn The Fly: Analyst Upgrade Summary
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09:13 EDTCHLApple may need to wait until 2015 to launch iPhone 6 in China, Bloomberg says
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07:50 EDTWBAI500.com upgraded to Buy from Hold at Deutsche Bank
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September 15, 2014
14:28 EDTCHLAmerica Movil shopping $17.5B of assets to AT&T, others, Bloomberg says
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September 10, 2014
16:19 EDTWBAIOn The Fly: Closing Wrap
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13:14 EDTWBAIBlock says Muddy Waters has 'modest short' on 500.com, Bloomberg reports
Carson Block of Muddy Waters says his firm has a "modest short" position on 500.com, Bloomberg reports, citing comments at a Baruch College event. Yesterday ValueWalk reported that Muddy Waters was short the stock, to which the company responded to today in a press release.
09:30 EDTWBAI500.com responds to recent article that made "unsubstantiated speculations"
500.com announced that it came to the company's attention that there was a recent online article which made "several unsubstantiated speculations" on various aspects of the Company's business operations. The company refutes each of such unsubstantiated speculations and reiterates that it has obtained all relevant and necessary licenses and approvals to legally provide online sports lottery services in China; and it has made accurate and full disclosures on its business operations.
September 9, 2014
18:31 EDTWBAIOn The Fly: After Hours Movers
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18:21 EDTCHLChina Mobile targets 50M 4G subscribers by year end, Nikkei reports
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17:06 EDTWBAICarson Block shorts 500.com, ValueWalk reports
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September 8, 2014
15:43 EDTWBAIRumor: 500.com mentioned cautiously by short-seller at Value Investing Congress
Shares of the Chinese company are down 5% in late trading.
September 5, 2014
07:06 EDTCHLChina Mobile volatility increases as shares at six-year high
China Mobile overall option implied volatility of 22 is above its 26-week average of 18 according to Track Data, suggesting large near term price risk.

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