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Stock Market & Financial Investment News

News Breaks
February 15, 2013
16:35 EDTFOLD, QLIK, TGT, LOGM, FDO, HLF, BKW, DG, WMTOn The Fly: Closing Wrap
Stocks on Wall Street were mixed on the day, as the averages moved in a narrow range near the flatline before a midday Bloomberg report indicated Wal-Mart's (WMT) February sales were being called "a total disaster" by a company executive sent the market lower. The averages recovered in the final hour of trading, with Dow the only one of the major indices finishing in positive territory... ECONOMIC EVENTS: The New York Fed's February Empire State Manufacturing survey unexpectedly rose to 10.0 from last month's -7.78 reading. Forecast were for a -2.0 reading. The U.S. Treasury International Capital report showed foreigners bought a net $64.2B in U.S. long term assets in December. U.S. industrial production fell 0.1% in January, versus expectations for growth of 0.2%. The preliminary University of Michigan Consumer Confidence reading for February was 76.3, versus the expected 74.8... COMPANY NEWS: Shares of Herbalife (HLF) opened sharply higher following a disclosure by Carl Icahn last night that he has taken a 12.98% stake in the company, but finished well off their highs, up 47c, or 1.23%, to $38.74. Icahn, who three weeks ago appeared on CNBC with Bill Ackman, who is notably short Herbalife shares, said in his filing that he plans to discuss business and strategic alternatives with Herbalife management... An afternoon report by Bloomberg citing a leaked internal email by a Wal-Mart executive that said February sales to date have been a "total disaster," sending shares of Wal-Mart and other retailers, as well as the broader market, lower during the afternoon. Shares of Wal-Mart finished down $1.52, or 2.15%, to $69.30, while peer Target (TGT) lost $1.02, or 1.63%, to $61.71, and discount retailers Dollar General (DG), down 66c, or 1.47%, to $44.37, and Family Dollar (FDO), lost 67c, or 1.18%, to $55.94... MAJOR MOVERS: Among notable gainers was Qlik Technologies (QLIK), up $4.09, or 17.97%, to $26.85 following its Q4 report and the stock was upgraded by at least two analyst firms. Also higher following better than expected earnings was Burger King (BKW), up 78c, or 4.7%, to $17.36. Among noteworthy losers were shares of LogMeIn (LOGM), down $7.01, or 29.63%, to $16.65 after the company provided Q1 and FY13 guidance fell short of consensus estimates, leading to at least three analyst downgrades. Also lower were shares of Amicus Therapeutics (FOLD), down $1.00, or 25.71%, to $2.89 after the company presented additional data from a Fabry monotherapy study... INIDICES: The Dow gained 8.37, or 0.06%, to 13,981.76; the Nasdaq lost 6.63, or 0.21%, to 3,192.03; the S&P 500 lost 1.59, or 0.10%, to 1,519.79.
News For WMT;HLF;TGT;DG;FDO;QLIK;BKW;LOGM;FOLD From The Last 14 Days
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February 9, 2016
08:34 EDTTGTCVS Health expects Target Pharmacy integration to be completed by end of summer
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February 8, 2016
14:41 EDTHLFHerbalife puts active into Pershing Square webcasting video
Herbalife February weekly 42 and March 35 puts are active on total put volume of 4,900 contracts (1,700 calls) into Pershing Square webcasting video about Herbalife on February 9. February weekly put option implied volatility is at 77, February is at 56, March is at 64; compared to its 52-week range of 34 to 106. Active put volume suggests traders taking positions for price movement.
14:05 EDTHLFPershing Square to webcast video about Herbalife on February 9
Pershing Square Capital Management announced that it will webcast "The American Dream Denied," a video about Herbalife, tomorrow, February 9, at 11:30 am Eastern time. Pershing stated: "Herbalife has attempted to convince regulators, elected officials, and the public that it has cleaned up its act and made substantial improvements to its business model. But the stories of Herbalife distributors show that millions of people are still being harmed by the company every day. The changes the company has made do not impact Herbalife's pyramidal compensation plan or the predatory practices Herbalife uses to deceive aspiring entrepreneurs. The 'new Herbalife' is no different than the old Herbalife."
07:16 EDTQLIKQlik Technologies potential negatives already priced in, says Brean Capital
Brean Capital believes any potential bad news for Qlik Technologies is already reflected in the stock but its channel checks indicate a solid Q4. The firm feels after the recent selloff the risk/reward heading into earnings is more favorable and view the company as the best positioned business inventory vendor. Brean Capital reiterated its Buy rating and $40 price target on Qlik Technologies shares.
February 5, 2016
16:12 EDTQLIKOn The Fly: Top stock stories for Friday
Stocks began the session in negative territory and remained there throughout the day. The monthly jobs report showed job growth had slowed more that expected in January, along with indicating higher than expected wage inflation due to the minimum wage increases around the country. Also weighing on the market were the worse than expected forecasts from some companies with previously high-flying stocks, including professional social network operator LinkedIn (LNKD). The Nasdaq was the biggest decliner losing more than 3% of its value, though the S&P and Dow also finished with significant losses. ECONOMIC EVENTS: In the U.S., nonfarm payrolls rose 151,000 in January, versus expectations for an increase of 190,000. The unemployment rate fell to 4.9%, versus expectations for it to stay at 5.0%. Average hourly earnings climbed 0.5% month-over-month, versus the consensus forecast for them to rise 0.3%. The trade deficit widened 2.7% to $43.4B in December, as exports dipped 0.3% and imports rose 0.3%. Consumer credit surged $21.3B in December, topping the $16B increase that was expected. COMPANY NEWS: LinkedIn plunged 43.68% to $108.49 after the professional network reported stronger than expected fourth quarter results, but its 2016 guidance came in significantly below expectations. At least nine Wall Street research firms responded to the guidance miss by downgrading the stock. "Big Data" software provider Tableau (DATA) similarly issued full-year guidance significantly below expectations and also fell sharply, tumbling 49.57% to $41.27. A number of companies that sell software to businesses fell in the wake of their reports, including Splunk (SPLK), Qlik Technologies (QLIK), NetSuite (N), Salesforce (CRM) and Workday (WDAY). MAJOR MOVERS: Among the notable gainers following their earnings reports were packaged foods maker Post Holdings (POST), which gained 11.14% to $63.83, and meat producer Tyson Foods (TSN), which advanced Among the noteworthy losers was Lionsgate (LGF), falling 27% to $18.57 after its third quarter revenue and earnings declined, which the company attributed to the performance of its theatrical film slate. Lionsgate's post-earnings pullback also weighed on Starz (STRZA), which fell 22.2%. Bloomberg reported earlier in the week, citing sources, that Lionsgate had restarted talks to possibly acquire Starz. Also lower following their earnings reports were shares of Redbox parent Outerwall (OUTR), which fell 17.28%, and Hanesbrands (HBI), which slid 15.1%. INDEXES: The Dow fell 211.75, or 1.29%, to 16,204.83, the Nasdaq lost 146.42, or 3.25%, to 4,363.14, and the S&P 500 declined 35.43, or 1.85%, to 1,880.02.
11:21 EDTQLIKTableau guidance weighs down enterprise software space
The shares of Tableau (DATA) are tumbling after the company reported stronger than expected fourth quarter earnings and revenue, but its full-year guidance came in significantly below expectations. A number of analysts responded to the news by cutting their price targets on the developer of software used to analyze data. WHAT'S NEW: Tableau reported Q4 earnings per share of 33c, versus the consensus outlook of 16c, and the company's revenue came in slightly above expectations. However, the company provided fiscal 2016 EPS guidance of 22c-35c, versus the consensus outlook of 62c. Moreover, its 2016 revenue guidance came in at $830M-$850M ,versus the consensus outlook of $871M. Tableau said it expects 2016 to be "another investment year," adding that the productivity of its sales force declined last year. Tableau blamed its guidance miss on weaker IT spending trends and competition. ANALYST REACTION: Tableau's Q4 results missed the expectations of some investors, wrote Jefferies analyst John DiFucci, who cut his price target on the name to $65 from $92. Qlik Sense, a free desktop product offered by Tableau's competitor, Qlik Technologies (QLIK), may be negatively impacting Tableau, DiFucci believes. Meanwhile, Tableau's execution risk is increasing as the size of its deals rise, added the analyst, who kept a Hold rating on the shares. DiFucci noted that a softening spend environment was given as a reason for Tableau's disappointing guidance, but said he continues to hear of a decent spending environment in the field. However, Stifel analyst Tom Roderick wrote that Tableau's results show that the global economic slowdown has begun to negatively impact IT spending. Calling the company a victim of the large growth it has generated in the past, the analyst believes that the company's competitive position is still strong. He cut his price target on the name to $100 from $145 but kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Tableau tumbled 46% to $44.41. Other companies that sell software to businesses also fell, with "Big Data" peer Splunk (SPLK) plunging 24% to $35.84, Qlik falling 18% to $20.51, NetSuite declining 12.5% to $61.40 and Workday (WDAY) dropping 14.5% to $55.47.
11:14 EDTQLIKOptions with increasing call volume
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10:13 EDTQLIKHigh option volume stocks
High option volume stocks: SC YRCW MKTO MT LNKD EPAM SBGL ALLY QLIK
05:56 EDTQLIKTableau price target lowered to $65 from $92 at Jefferies
Jefferies analyst John DiFucci lowered his price target for Tableau (DATA) to $65 saying expectations for the company "finally became too great" in Q4. The analyst says that while a softening spend environment was given as a reason for the disappointing guidance, he continues to hear of a decent spending environment in the field. DiFucci wonders if the free Qlik Sense desktop (QLIK) is having an effect on Tableau. The analyst keeps a Hold rating on Tableau following the company's Q4 results.
February 4, 2016
19:30 EDTQLIKOn The Fly: After Hours Movers
UP AFTER EARNINGS: Ubiquiti Networks (UBNT), up 18.3%... Symantec (SYMC), up 9.3%... Hartford Financial (HIG), up 7.4%... Post Holdings (POST), up 6.3%... Lumentum (LITE), up 4.7%... TTM Technologies (TTMI), up 1.1%. ALSO HIGHER: Multi-Fineline (MFLX), up 40% after agreeing to be acquired for $23.95 per share. DOWN AFTER EARNINGS: Tableau Software (DATA), down 35.2%... LinkedIn (LNKD), down 29%... Giga-tronics (GIGA), down 28.6%... Hanesbrands (HBI), down 11.4%... YRC Worldwide (YRCW), down 18.8%... Outerwall (OUTR), down 14.2%... Deckers Outdoor (DECK), down 9.9%... Qorvo (QRVO), down 1.3%... athenahealth (ATHN), down 3.7%. ALSO LOWER: Hess (HES), down 6.7% after filing to sell 25M common shares and 10M depositary shares... Splunk (SPLK) is down 10.4%, Qlik Technologies (QLIK) is down 11.4%, Workday (WDAY) is down 6.2%, and Palo Alto Networks (PANW) is down 3% after Tableau Software reported quarterly results... Groupon (GRPN) is down 1.9%, Netflix (NFLX) is down 1.7%, Twitter (TWTR) is down 1.7%, and Facebook (FB) is down 1% are down after LinkedIn reported quarterly results.
06:14 EDTWMTWalmart sues Puerto Rico over tax increase, NY Times says
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February 3, 2016
20:02 EDTWMTWal-Mart to build own gas stations going forward, WSJ says
Wal-Mart (WMT) plans to build and operate its own gas stations going forward, though Murphy USA (MUSA) will continue the operate the 1,000-plus stations it has already built near Wal-Mart locations, reports the Wall Street Journal. A Wal-Mart spokesperson told the publication that, when building new stores, the company will add its own gas stations "to as many as possible." Reference Link
11:26 EDTDGOptions with increasing call volume; LOW LNC DG EW SNOW KLIC CIT AN EAT SYT
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February 1, 2016
12:42 EDTHLFHerbalife names John Agwunobi Chief Health and Nutrition Officer
Herbalife announces that John Agwunobi has joined the company as its Chief Health and Nutrition Officer. Most notably, from 2005-2007, he served as the Assistant Secretary of Health for the U.S. Department of Health and Human Services.
09:27 EDTHLFOn The Fly: Pre-market Movers
HIGHER: Alere (ALR), up 45.4% after announcing that Abbott (ABT) will acquire the company for $56 per share... Questar (STR), up 20.2% after announcing that Dominion (D) will acquire the company for $25 per share and assumed debt... Mast Therapeutics (MSTX), up 12.2% after the Phase 2a study of AIR001 met its primary endpoint... Twitter (TWTR), up 5.7% after The Information reported that Marc Andreessen and Silver Lake have considered a deal for Twitter... Herbalife (HLF), up 2.2% after the Wall Street Journal reported that probes into Bill Ackman's "pyramid scheme" accusations against Herbalife, as well as Herbalife's own accusations that Ackman sought to manipulate the company's stock, have both failed to uncover enough evidence to support criminal charges. LOWER: Dominion Resources, down 1.7% after reporting quarterly results and that it will acquire Questar... Abbott, down 4.1% after announcing that it will acquire Alere... GoPro (GPRO), down 4.4% after Piper Jaffray cut its price target to $7.50.
09:04 EDTHLFHerbalife moves higher in pre-market
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08:08 EDTWMTMoneyGram, Wal-Mart announce new three-year agreement
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January 31, 2016
20:43 EDTHLFOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
19:24 EDTHLFHerbalife, Ackman probes fail to find criminal evidence, WSJ says
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January 29, 2016
06:51 EDTWMTJury says Wal-Mart must by pharmacist $31.22M in gender bias case, Reuters says
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