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Stock Market & Financial Investment News

News Breaks
February 9, 2014
18:42 EDTWEN, YUMWendy's could reduce store ownership to 10%, Barron's says
Wendy's re-franchising initiative could continue to benefit margins, Barron's contends in its Sizing Up Small Caps column. The stock could be a takeover target for Yum! Brands, which does not own a burger chain, the paper adds. Reference Link
News For WEN;YUM From The Last 14 Days
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July 23, 2014
15:13 EDTYUMYum terminates all buying from scandal linked Chinese supplier, Reuters reports
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06:48 EDTYUMFive people detained regarding China meat scandal investigation, Reuters says
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July 21, 2014
16:22 EDTYUMOn The Fly: Closing Wrap
Stocks on Wall Street began the trading day in negative territory and remained there through nearly the whole session. The market action was influenced more by the geopolitical events in Russia and Israel than by the upcoming avalanche of earnings scheduled for release throughout the week. Despite the weak open and subsequent drop during the first hour of trading, the market drifted off its lows and managed to pare its losses, even turning mixed for a short time. The averages dipped again heading into the bell, though they closed well of their worst levels. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity Index dipped to 0.12 in June from a reading of 0.16 in May. COMPANY NEWS: Allergan (AGN) rose $3.74, or 2.23%, to $171.14 after the company's Q2 results and its FY14 outlook beat expectations. The company, which is working to fend off a proposed acquisition by Valeant Pharmaceuticals (VRX), also announced plans to cut its workforce by 13%, or about 1,500 employees, as part of a broader restructuring effort. In related news, Valeant announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business." Later in the day, Bill Ackman of Pershing Square, who is partnering with Valeant in its attempt to buy Allergan, called the restructuring a "Valeant light" effort and said Valeant does not need to raise its bid for Allergan. Ackman explained that he believes that shares of Valeant will rise around $10 should the Allergan board engage in takeover talks with the company and that a $10 share rise would boost Valeant's bid for Allergan by $8 per share. MAJOR MOVERS: Among the notable gainers was Extreme Networks (EXTR), which rose 69c, or 15.79%, to $5.06 after the company raised its Q4 earnings per share outlook and narrowed its Q4 revenue view. Also higher were shares of EMC (EMC), which advanced $1.35, or 5.0%, to $28.33 after the Wall Street Journal reported, citing sources, that activist investor Elliott Management has taken a stake of over $1B in the data-storage company and plans to push it to break itself up and spin off VMware (VMW), which is 80% owned by EMC. Shares of VMware fell $2.36, or 2.48%, to $92.95 following the Journal's report. Among the other noteworthy losers was Monster Beverage (MNST), which fell $3.07, or 4.53%, to $64.74 after Morgan Stanley downgraded the stock, citing slowing U.S. trends and balanced valuation. Also lower were shares of Yum! Brands (YUM), which fell $3.29, or 4.25%, to $74.13 after Associated Press reported that the company's KFC brand and McDonald's (MCD) were sold expired beef and chicken in China from food supplier Husi Food. Shares of McDonald's, which is scheduled to report on its quarter before tomorrow's market open, slid $1.44, or 1.45%, to $97.55. INDEXES: The Dow fell 48.45, or 0.28%, to 17,051.73, the Nasdaq dropped 7.44, or 0.17%, to 4,424.70, and the S&P 500 declined 4.59, or 0.23%, to 1,973.63.
11:43 EDTYUMYum! Brands trades lower, levels to watch
The shares are trading close to session lows at $74.60 following news of a tainted meat scandal for KFC operations in China. Dragon TV of Shanghai reported that Husi Food Co. sold the company expired chicken repackaged with altered expiration dates. The $74 area is an important one technically for the shares. A breakdown below $74 would be bearish for future price. Holding price at $74 would put the stock back at the lows of the range since mid-February of this year.
11:00 EDTYUMStarbucks China says one of its suppliers got meat from Husi, Bloomberg reports
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09:10 EDTYUMOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
07:42 EDTYUMYum! Brands weakness a buying opportunity, says UBS
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05:59 EDTYUMMcDonald's, KFC face expired food scandal in China, AP reports
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July 18, 2014
16:47 EDTYUMMarket ends week higher as earnings, M&A offset geopolitical tensions
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10:03 EDTWENOn The Fly: Analyst Initiation Summary
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08:17 EDTWENWendy's initiated with a Buy at Buckingham
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07:08 EDTYUMYum! Brands risk/reward attractive after decline, says Bernstein
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July 17, 2014
16:52 EDTYUMOn The Fly: Closing Wrap
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12:15 EDTYUMYum! Brands sinks after miss but analyst still upbeat
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10:01 EDTYUMYum! Brands falls after earnings, levels to watch
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09:43 EDTYUMYum! Brands: China to achieve 40% operating profit growth in FY14
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09:43 EDTYUMYum! Brands sees FY14 EPS growth of 20%, consnesus $3.73
The company expects to sustain double digit EPS growth in 2015 and beyond
09:36 EDTYUMYum! Brands Taco Bell breakfast option off to a 'great start'
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09:15 EDTYUMOn The Fly: Pre-market Movers
HIGHER: Dresser-Rand (DRC), up 15.5% after Manager Magazin says Siemens (SIEGY) preparing bid for the company. Other oil equipment companies with a market cap similar to Dresser-Rand's include Dril-Quip (DRQ) and Oil States (OIS)... Microsoft (MSFT), up 3.4% after announcing restructuring, including plans to cut up to 18K jobs. UP AFTER EARNINGS: Morgan Stanley (MS) up 1.5%... Sherwin-Williams (SHW), up 3%. DOWN AFTER EARNINGS: Mattel (MAT), down 7.3%... Sandisk (SNDK), down 7%... Yum! Brands (YUM), down 2.5%. LOWER: Orbitz (OWW), down 3% after results, 34M share spot secondary offering of stock priced at $8.25... Benefitfocus (BNFT), down 1% after 2.5M share Secondary priced at $38.50.
07:15 EDTYUMYum! Brands shares should be bought after mixed Q2 results, says Stifel
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