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Stock Market & Financial Investment News

News Breaks
April 23, 2012
16:25 EDTOTT, AZN, WMT, ACHN, RDEA, TWC, BKS, KOn The Fly: Closing Wrap
Stocks on Wall Street were lower following a pair of political developments in Europe. France’s incumbent president, Nicolas Sarkozy, came in second in the first round of the nation's elections and the Dutch cabinet failed to gain approval for a budget which included austerity measures, leading to their resignations. The European news, along with some disappointing data there and from China, weighed on the futures, which in turn led to a sharply lower open for the broader market. The market continued to move lower in the first hour of trading but then found a level where it began to build. The averages moved in a generally upward trend for the remainder of the session, as investors waited for the next round of earnings reports and for news later this week from the FOMC... ECONOMIC EVENTS: Domestically, little economic data of note was reported. Internationally, Markit's European composite purchase managers' index fell to 47.4 points while a flash Chinese PMI reading rose to 49.1 in April, with both of those figures signaling contraction... COMPANY NEWS: The New York Times said Wal-Mart (WMT) attempted to cover up bribery that it discovered at Wal-Mart de Mexico (WMMVY) and the retailers' shares were the Dow's worst performer, falling $2.91, or 4.66%, to $59.54... Kellogg (K) cut its full-year guidance as it said Europe's challenges were "more significant" than it expected and it sees Q1 challenges in some categories in the U.S. Shares sank $3.29, or 6.09%, to $50.70... MAJOR MOVERS: Among the notable gainers were Ardea Biosciences (RDEA), up $10.78, or 51.73%, to $31.62, after AstraZeneca (AZN) agreed to acquire the company for $32 per share, and Barnes & Noble (BKS), up $2.07, or 18.25%, to $13.41, as CNBC reported that Jana Partners is increasing its stake in the company to about 12%. Noteworthy losers included Achillion (ACHN), down $1.53, or 18.54%, to $6.74, following the company's report of Phase II study data for its lead hepatitis C treatment, and Otelco (OTT), down $5.37, or 44.64%, to $6.66, after it said Time Warner Cable (TWC) will not renew its existing contract for wholesale network connections, which made up almost 12% of Otelco’s consolidated revenue last year... INDICES: The Dow fell 102.09, or 0.78%, to 12,927.17; the Nasdaq dropped 30.00, or 1.00%, to 2,970.45; and the S&P 500 shed 11.59, or 0.84%, to 1,366.94.
News For WMT;K;RDEA;AZN;BKS;ACHN;OTT;TWC From The Last 14 Days
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April 17, 2014
08:46 EDTBKSBarnes & Noble 3.7M share Block Trade priced at $18.30
Morgan Stanley acted as sole book running manager for the offering.
08:31 EDTBKSBarnes & Noble Chairman Riggio says sold 3.7M shares of stock
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07:32 EDTWMTMoneyGram to host conference call
Conference call to discuss Walmart's announcement of new service offering will be held on April 17 at 9 am. Webcast Link
06:58 EDTTWCNetflix, Comcast deal questioned by senator, NY Post says
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06:24 EDTWMTWal-Mart, Euronet to announce new service today
Walmart (WMT) and Euronet (EEFT) last night announced that they will hold a conference call today to announce a new service. "Walmart and Euronet are committed to providing innovative solutions to help customers reduce costs and better manage their money," the press release stated. Shares of Euronet rallied 77c to $41.56 in after-hours trading following the news.
06:20 EDTWMTWal-Mart and Euronet host conference call
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April 16, 2014
10:00 EDTTWCOn The Fly: Analyst Upgrade Summary
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05:54 EDTTWCTime Warner Cable upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo upgraded Time Warner Cable (TWC) to Outperform on expectations the merger with Comcast (CMCSA) will get approved. Wells raised the low end of its price target range for shares to $140-$160 from $132.50-$160.
April 15, 2014
08:19 EDTAZNLeerink's pharma and biotech analysts hold an analyst/industry conference call
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07:26 EDTTWCReport: Comcast raised advertised basic TV rates 68% over 4 years, NY Post says
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06:32 EDTAZNPatients paying much more for specialty drugs, NY Times says
The amount that patients with certain diseases must pay for specialty drugs has increased significantly, a research firm reported, according to The New York Times. Meanwhile, consumers' use of health care increased in 2013 for the firm time in three years, the newspaper quoted the firm, the IMS Institute for Healthcare Informatics, as saying. Publicly traded drug makers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Publicly traded health insurers include AMERIGROUP (AGP), Aetna (AET), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH), WellCare (WCG) and WellPoint (WLP).Reference Link
05:38 EDTWMTWal-Mart downgraded to Underperform from Market Perform at William Blair
William Blair downgraded its rating on Wal-Mart (WMT) to Underperform from Market Perform citing risks with e-commerce competition and the prospect of sector rotation away from retailers. William Blair says retail sales were sluggish in Q1 with weak consumer confidence for low-income households.
April 14, 2014
07:55 EDTKKellogg buyout structured like Heinz LBO could work, says BofA/Merrill
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April 11, 2014
07:26 EDTTWCTime Warner struggling to force Dodgers network on pay-TV players, LAT say
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07:09 EDTWMTLi & Fung collaborates with Citigroup on brand unit spinoff, Bloomberg says
Li & Fung (LFUGF)) is said to be collaborating with Citigroup (C) to spin off its brands division, which is valued at nearly $2B, according to Bloomberg, citing people with knowledge of the matter. The company's brand unit sells clothing and toys to retailers such as Wal-Mart (WMT) and Kohl's (KSS). Reference Link
April 10, 2014
13:14 EDTWMTFamily Dollar slides after holiday disappointment prompts store closures
Shares of discount retailer Family Dollar (FDO) are falling after the company reported second quarter earnings per share and revenue that fell below expectations, along with third quarter and FY14 projections that are lower than analysts' consensus. WHAT'S NEW: This morning, Family Dollar reported second quarter earnings per share of 80c, which fell below analysts consensus of 90c. The company reported second quarter revenue of $2.72B, while analysts projected $2.77B. Family Dollar, which reported that its second quarter same-store-sales decreased by 3.8%, said the holiday season was challenged by "a more promotional competitive environment and a more financially constrained consumer" and that its results were also significantly impacted by severe winter weather like many retailers. The company expects third quarter earnings per share excluding-items to be 85c-95c, while analysts project a 98c consensus. Family Dollar said that it sees FY14 earnings per share excluding items to be $3.05-$3.25, which is at the lower end of analysts' estimations. Family Dollar noted that it expects to close nearly 370 underperforming stores in the second half of FY14 and slow new store growth beginning in FY15. WHAT'S NOTABLE: During Family Dollar's earnings conference call, the company said that it plans to slow square footage growth in the beginning of FY14 and said that it recently cut about 10% of its corporate workforce. ANALYST OPINION: Wells Fargo analyst Matt Nemer said Family Dollar's third quarter negative comp guidance and commentary about a challenging macro environment could pressure its own shares as well as those of its peers Dollar General (DG) and Dollar Tree (DLTR). However, Family Dollar's store closures combined with a decrease in future store growth could ultimately have positive implications for its competitors, Nemer added. On March 4, Credit Suisse said Family Dollar's underperformance compared to Dollar General and significant earnings possibilities gives the rationale for a potential merger of the two. On February 19, Credit Suisse analyst Michael Exstein suggested that Wal-Mart (WMT) should consider acquiring Family Dollar as a way to "jumpstart" its small store effort. CNBC's David Faber reported the same morning that Exstein published his note that Family Dollar was not holding any talks about selling itself at that time. PRICE ACTION: During afternoon trading, shares of Family Dollar decreased $1.54, or 2.61%, to $57.53, Dollar Tree dropped 2.5%, and Dollar General fell about 1.5%.
07:49 EDTTWCLawmakers concerned over Internet share of combined Comcast-TWC, LAT says
During merger review proceedings, legislators on the Senate Judiciary Committee expressed particular concern about the 40% nationwide share of the Internet market that would be held by a combined Comcast (CMCSA) and Time Warner Cable (TWC) if the two are permitted to merge, reported The Los Angeles Times. Reference Link
06:13 EDTWMTWal-Mart to carry Wild Oats organic food items
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06:09 EDTKKellogg implied volatility of 23 at upper end of index mean range
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06:05 EDTKStocks with implied volatility movement; DLLR K
Stocks with implied volatility movement; DFC Global (DLLR) 34, Kellogg (K) 22 according to iVolatility.
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