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Stock Market & Financial Investment News

News Breaks
May 9, 2014
16:21 EDTWGWillbros Group files $300M mixed securities shelf
News For WG From The Last 14 Days
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March 31, 2015
18:08 EDTWGWillbros Group sees FY15 revenue $1.4B-$1.6B, consensus 1.83B
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18:07 EDTWGWillbros Group sees mainline pipeline construction business improving in 2H15
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18:05 EDTWGWillbros Group reports Q4 EPS (72c) with items, consensus 6c
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17:03 EDTWGWillbros Group sees $40M-$45M in net proceeds from sale of Premier Services
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March 19, 2015
16:32 EDTWGWillbros Group sells UtilX to Novinium for $35M-$40M
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March 18, 2015
16:26 EDTWGOn The Fly: Closing Wrap
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12:38 EDTWGOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday ahead of the conclusion of the Federal Reserve's latest rate setting meeting and the central bank's accompanying announcements. The averages began the session in negative territory and have been range-bound throughout the morning. The Dow was down triple digits once again, making 8 consecutive days that the blue chip index has seen a triple digit move. ECONOMIC EVENTS: In the U.S., the DOE petroleum inventory reports showed a 9.6M barrel rise in crude stocks in the week of March 13, versus expectations for a 4.4M build. The day's big economic news is yet to come, with the Fed's FOMC meeting announcement due at 2:00 pm EDT and Fed Chair Yellen holding a press conference a half hour later. Elsewhere, Prime Minister Benjamin Netanyahu unexpectedly defeated his main challenger in Israelís election and his Likud party appears set to capture more parliament seats. COMPANY NEWS: Shares of FedEx (FDX) slid 2.5% after the shipping giant reported earnings that beat estimates, but revenue that fell short of the consensus forecast, for its third fiscal quarter. FedEx noted that it expects to deliver "record" yearly earnings for the current fiscal year and next fiscal year as well... Oracle (ORCL) shares rose 2.5% after the company's third quarter profits matched expectations and it raised its quarterly dividend 25%. MAJOR MOVERS: Among the notable gainers was Vitesse Semiconductor (VTSS), which jumped 37% after the company agreed to be acquired for $5.28 per share in cash by Microsemi (MSCC). Also higher was Retrophin (RTRX), which rose 28% after the company said it will exercise its right to purchase from Asklepion Pharmaceuticals all worldwide rights, titles, and ownership of Cholbam after the FDA approved the drug for the treatment of pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects and for patients with peroxisomal disorders. Among the noteworthy losers was Willbros Group (WG), which dropped 55% and was downgraded to Underperform at DA Davidson after announcing its earnings report will be delayed and the company is in potential non-compliance with debt covenants. Also lower following their earnings reports were Nektar Therapeutics (NKTR), which fell 15% after the company's Phase III BEACON metastatic breast cancer study missed its primary endpoint. INDEXES: Near midday, the Dow was down 105.02, or 0.59%, to 17,744.06, the Nasdaq was down 12.45, or 0.25%, to 4,924.99, and the S&P 500 was down 7.69, or 0.37%, to 2,066.59.
10:00 EDTWGOn The Fly: Analyst Downgrade Summary
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09:51 EDTWGWillbros Group halted for volatility after dropping 65% to $1.93
09:23 EDTWGOn The Fly: Pre-market Movers
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08:07 EDTWGWillbros Group downgraded to Underperform from Neutral at DA Davidson
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