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News Breaks | | | | November 15, 2012 | | 16:32 EDT |  | VELT, SZYM, WMT, DNB, BG, NTAP, OSIS, AMD, BP | On The Fly: Closing Wrap
Stocks on Wall Street finished the day lower after midday buying sent the averages briefly into positive territory, though the averages yet again could not hold onto their gains. Wal-Mart (WMT), which reported earnings before the bell, issued cautious Q4 guidance ahead of the holiday season. Uncertainty also weighed heavily on investors as concerns over the fiscal cliff, which have abounded since the election, were compounded by increased concerns in the Middle East... ECONOMIC EVENTS: In the U.S., initial jobless claims jumped by 78,000 from the prior week to 439,000. Analysts had forecast a smaller rise to 375,000 and the steep climb in claims was partially attributed to Superstorm Sandy. Consumer prices rose 0.1% overall in October, versus the expected increase of 0.1%. The NY Fed Empire State Survey for November had a -5.22 reading, versus the expected -8.00, and the Philadelphia Fed Manufacturing Survey had a reading of -10.7, versus the expected +2.0. In Europe, Eurostat data showed the Eurozone fell back into recession in the third quarter... COMPANY NEWS: Wal-Mart, despite beating consensus estimates for the most recent quarter, provided guidance for the upcoming quarter that was lower than Street estimates. This tempered outlook sent shares of the Dow component lower by $2.59, or 3.63%, to close at $68.72... BP (BP) agreed to plead guilty to felony charges and to pay the largest criminal penalty in U.S. history for the Deepwater Horizon accident. The company said the aggregate amount of the settlement is about $4.5B, with payments scheduled over a period of six years. Shares of BP opened the day higher, but fell through the session and eventually settled fractionally higher, up 14c, or 0.35%, to $40.30... MAJOR MOVERS: Among the notable gainers was NetApp (NTAP), up $3.04, or 11.20%, to $30.16 after its earnings beat expectations and shares were upgraded at Raymond James. Also trading higher were shares of Solazyme (SZYM), up 71c, or 10.01%, to $7.80 after the company announced strategic partnerships with Archer Daniels (AMD) and a subsidiary of Bunge Limited (BG) that will expand the company's oil production capacity. Among noteworthy losers were shares of Velti (VELT), down $2.27, or 34.19%, to $4.37 after the company reported Q3 earnings that missed consensus estimates and the stock received a downgrade to Hold at Needham. Also lower were shares of OSI Systems (OSIS), down $21.40, or 28.05%, to $54.89 after a Bloomberg report said that Congressman Mike Rogers sent a letter to the TSA stating that the company may have "knowingly manipulated" the result of an operational test. The company later issued a statement denying claims made in the Bloomberg report. Dun & Bradstreet (DNB) declined $7.60, or 9.40%, to $73.21 after a late afternoon report by Reuters said talks between the company and its potential buyers fell apart... INDICES: The Dow lost 28.57, or 0.23%, to 12,542.38; the Nasdaq fell 9.87, or 0.35%, to 2,836.94; and the S&P 500 slid 2.17, or 0.16%, to 1,353.32. | |
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News For WMT;BP;NTAP;SZYM;AMD;BG;VELT;OSIS;DNB From The Last 14 Days Check below for free stories on WMT;BP;NTAP;SZYM;AMD;BG;VELT;OSIS;DNB the last two weeks. |
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| May 17, 2013 | | 16:21 EDT | | BP | On The Fly: Closing Wrap
 Subscribe for More Information | | | 15:36 EDT |  | NTAP | NetApp May weekly volatility elevated at 61 into Q4
Subscribe for More Information | | | 13:09 EDT |  | BP | Tesoro receives FTC clearance for purchase of BP refining, marketing business
Tesoro (TSO) announced that the Federal Trade Commission has cleared the company's planned acquisition of BP's (BP) fully integrated Southern California Refining and Marketing business and that Tesoro intends to close the acquisition during Q2. The clearance from the FTC came without any impacts to the assets or operations in the transaction as announced in August of last year. The purchase price of BP's assets is $1.075B, plus the market value of inventory, currently estimated at $1.3B. This amount includes a $100M purchase price reduction for the clearance with regulatory authorities. | | | 12:10 EDT | | AMD | Stocks with call strike movement; AMD CLF
Subscribe for More Information | | | 09:05 EDT | | SZYM | Keating Capital announces exit from Solazyme stake
Keating Capital (KIPO) announced that it sold the remaining 147,927 shares it held in Solazyme (SYZM) during May 2013. The sale generated net proceeds of $1.55M, or $10.51 per share, and a net realized gain of $49,820, or approximately 0.5c for each Keating Capital share outstanding. | | | 07:54 EDT |  | NTAP | NetApp investment thesis continues to play out, says Brean Capital
Brean Capital believes its buy thesis on NetApp continues to play out as expected and expects the company can achieve current Street estimates and manage operating expenses in the near-term. Shares are Buy rated with a $42 price target. | | | 07:48 EDT | | WMT | Wal-Mart valuation profile seems sustainable, says RW Baird
Subscribe for More Information | | | May 16, 2013 | | 16:29 EDT | | AMD, WMT | On The Fly: Closing Wrap
Stocks on Wall Street were lower following some disappointing economic data and a hint from a regional Fed president that the central bank may taper its easing program in the coming months. The averages traded in a narrow range for much of the session before moving lower in the final hour of trading. Comments by San Francisco Fed president John Williams late in the afternoon, suggesting that the central bank may begin slowing its bond buying pace by the summer, may have spurred the late session selling. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 32K to 360K last week, compared to expectations for them to remain relatively stable at 330K. The consumer price index dropped a larger than forecast 0.4% in April, though the "core" CPI rate rose 0.1%, as expected. Housing starts were down 16.5% in April from the prior month, versus an expected decrease of 6.4%, though building permits jumped 14.3% from the prior month, beating an expected increase of 3.8%. The Philadelphia Fed General Business Conditions Index for May came in at -5.2, versus expectations for a +2.2 reading. COMPANY NEWS: Earnings reports from two Dow members, Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. Cisco shares added $2.66, or 12.54%, to $23.87 to lead the blue chip index after the company's results beat expectations on the top and bottom lines. Wal-Mart fell $1.36, or 1.7%, to $78.50 after its first quarter earnings sand second quarter outlook missed the consensus forecast... Tesla Motors (TSLA) last night announced a stock and debt offering of more than $800M, with CEO Elon Musk announcing his intent to buy $100M of the offering, and shares of the electric car maker added $7.36, or 8.67%, to $92.20. MAJOR MOVERS: Among notable gainers was Aegerion (AEGR), up $14.73, or 31.37%, to $61.70 after the company said its Juxtapid treatment may have a $1B global market opportunity and at least two analyst firms raised their price targets on its shares. Also higher was Constellation Brands (STZ), up $1.52, or 3.03%, to $51.76 after the stock was upgraded at Stifel and ISI Group. Among noteworthy losers following analyst downgrades were AMD (AMD), which fell 55c, or 12.56%, to $3.83 after Goldman downgraded the stock to Sell, and CSC (CSC), which slid $2.12, or 4.74%, to $42.59 after being cut to Hold at Deutsche Bank. Also lower following its quarterly report was NetQin Mobile (NQ), down 72c, or 7.5%, to $8.88. INDICES: The Dow was down 42.47, or 0.28%, to 15,233.22; the Nasdaq was down 6.38, or 0.18%, to 3,465.24; and the S&P 500 was down 8.31, or 0.50%, to 1,650.47. | | | 14:46 EDT |  | BP | Tesoro may take over BP California assets as soon as June 1, Reuters says
Subscribe for More Information | | | 14:34 EDT |  | NTAP | NetApp spikes higher on Elliott Management stake news
Subscribe for More Information | | | | 14:32 EDT | | BP | Tesoro may take ownership of BP Carson refinery, other assets as soon as June 1
Subscribe for More Information | | | 14:01 EDT | | WMT | Options Update; May 16, 2013
Subscribe for More Information | | | 13:16 EDT | | WMT | Wal-Mart warns on email phishing scam
Subscribe for More Information | | | 12:24 EDT | | NTAP, AMD, WMT | On The Fly: Midday Wrap
The S&P 500 was virtually unchanged at midday following a deluge of domestic economic data this morning. The S&P began the session in negative territory, but only moderately lower, after investors received a host of data prior to the open, including reports on jobless claims, consumer prices, and housing starts. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 32K to 360K last week, compared to expectations for them to remain relatively stable at 330K. The consumer price index dropped a larger than forecast 0.4% in April, though the "core" CPI rate rose 0.1%, as expected. Housing starts were down 16.5% in April from the prior month, versus an expected decrease of 6.4%, though building permits jumped 14.3% from the prior month, beating an expected increase of 3.8%. The Philadelphia Fed General Business Conditions Index for May came in at -5.2, versus expectations for a +2.2 reading. COMPANY NEWS: Earnings reports from two Dow members, Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. Cisco shares advanced 12% to lead the blue chip index after the company's results beat expectations on the top and bottom lines and prompted price target increases at several analyst firms. Wal-Mart, in contrast, lagged all Dow names, sliding 2% after its earnings for the just ended quarter and its view of the current quarter missed the consensus forecast... After the closing bell, Tesla Motors (TSLA) said it intends to raise about $830M by offering 2.7M common shares and $450M in convertible senior notes. CEO Elon Musk will buy $100M worth of the stock and debt, the company said, and its recently high-flying shares rose another 6%. MAJOR MOVERS: Among the notable gainers rising following Cisco's better than expected results and commentary were Ciena (CIEN), which rose 8%, and Cavium (CAVM), which advanced 4%. Also higher were shares of NetApp (NTAP), which gained over 6% after Bloomberg said activist investor Elliott Management has taken a stake in the company and is pushing its board to explore ways to boost shareholder value. Among the noteworthy losers were Oncothyreon (ONTY), which fell 20%, and Biomarin (BMRN), down 5%, after both pharmaceutical companies, among a number of others, published data to be presented at ASCO, an annual meeting of oncologists. Also lower was AMD (AMD), which declined 14% following a downgrade to Sell at Goldman Sachs. INDICES: Near noon, the Dow was up 12.47, or 0.08%, to 15,288.16; the Nasdaq was up 8.74, or 0.25%, to 3,480.36; and the S&P 500 was nearly flat at 1,658.80. | | | 12:00 EDT | | AMD | AMD falls 13.9%
AMD is down 13.9%, or 61c, to $3.77 | | | 11:40 EDT | | NTAP | Activist fund Elliott takes stake in NetApp, Bloomberg reports
Subscribe for More Information | | | 11:37 EDT | | AMD | Stocks with call strike movement; AMD BBY
AMD (AMD) October 4.5 call volatility increased 4% to 58, Best Buy (BBY) June 30 call option implied volatility increased 3% to 63 according to IVolatility. | | | 11:28 EDT | | NTAP | NetApp calls active on report of activist stake into Q4
NetApp May and June 38 total calls are active on total call volume of 13K contracts (6K puts). May weekly call option implied volatility is at 76, June is at 40, September is at 29; compared to its 26-week average of 35 according to Track Data. Active call volume suggests traders taking positions for large near term price movement into the expected release of Q4 results on May 21 and Bloomberg says activist Elliott takes stake. | | | 11:18 EDT | | NTAP | NetApp jumps 5% after Bloomberg says activist Elliott takes stake
Subscribe for More Information | | | 11:17 EDT | | NTAP | Elliott takes NetApp stake, pushes for board changes, Bloomberg reports
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