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Stock Market & Financial Investment News

News Breaks
March 5, 2014
12:41 EDTBOBE, ARWR, XOMA, PETM, MXWL, XOMOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq leading and the Dow lagging. The averages have hovered in a narrow range around the flat-line, though consolidation is not necessarily surprising after yesterday’s powerful advance. The market has seen little volatility today despite the continued threat of an escalation of the situation in Ukraine. ECONOMIC EVENTS: In the U.S., ADP reported private payrolls rose 139K in February, which was below the expectation for 150K job additions. The ISM services index dropped to 51.6 in February, versus expectations for a more modest pullback to 53.5. The Federal Reserve is scheduled to release its latest "Beige Book" report on economic activity at 2:00 pm ET. In Europe, Eurostat's second estimate of fourth quarter growth in the region showed GDP rose by 0.3% in the eurozone countries and by 0.4% in the EU28, both of which were up from the prior quarter. Other data released overnight showed a surprise rebound in eurozone retail sales and an upward revision to the eurozone composite PMI. COMPANY NEWS: Energy major Exxon Mobil (XOM) slid 3% as the company hosted its annual analyst meeting and said it expects to invest $39.8B in 2014 but also forecast that its total production will be flat this year... Shares of PetSmart (PETM) fell 2% despite the company reporting better than expected fourth quarter earnings. Revenue for the pet goods and services retailer, however, fell short of expectations, as did the company's earnings outlook for its current quarter. On its earning call, PetSmart acknowledged that the start of its first quarter has been "challenged" due to weather, but also said it is seeing a "meaningful" difference in results between stores in weather-impacted markets and those where weather is less of a factor. MAJOR MOVERS: Among the notable gainers was Arrowhead Research (ARWR), which rose 25% after the company's shares were initiated with a Buy rating at Deutsche Bank and with an Outperform rating at RBC Capital. Also higher was Maxwell Technologies (MXWL), which was 22% higher after Piper Jaffray raised its price target on shares to $21 from $11. Among the noteworthy losers was drug maker XOMA (XOMA), which fell 26% after saying its does not intend to launch pivotal development for the broad erosive osteoarthritis of the hand, or EOA, indication for a drug based on the results of its Phase 2 trial program. Also lower were shares of restaurant operator and packaged foods maker Bob Evans (BOBE), which fell over 8% after the company's third quarter earnings missed estimates and it lowered its fiscal 2014 outlook. INDEXES: Near midday, the Dow was down 36.66, or 0.22%, to 16,359.22, the Nasdaq was up 5.76, or 0.13%, to 4,357.73, and the S&P 500 was little changed near 1,873.93.
News For XOM;PETM;ARWR;MXWL;XOMA;BOBE From The Last 14 Days
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December 15, 2014
05:49 EDTPETMPetSmart unlikely to receive higher takeover bid, says RW Baird
RW Baird analyst Peter Benedict says PetSmart is unlikely to receive a higher takeover bid compared to the $83 per share that BC Partners is paying to take the company private. Benedict notes that PetSmart had been in a process of reviewing multiple bids before last night's merger announcement. He raised his price target for the stock to $83 from $78 and keeps a Neutral rating on the pet store owner.
05:21 EDTBOBEBob Evans CEO Steve Davis steps down
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December 14, 2014
17:31 EDTPETMPetSmart to be acquired by BC Partners led consortium for $83 per share
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17:07 EDTXOMOPEC's Badri says group will withstand oil price fall, Reuters says
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15:23 EDTPETMApollo close to $8B leveraged buyout of PetSmart, Bloomberg says
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December 12, 2014
16:22 EDTBOBEDiscovery Capital reports 8.9% passive stake in Bob Evans
15:12 EDTXOMExxon Mobil heads for its 52-week low, levels to watch
The shares are down over 2.1% to $87.26 at time of writing. That puts the stock very close to its 52-week low at $86.91, which is next support. Below that low support is at $86.28. Resistance is at $87.74.
06:51 EDTXOMBrent crude oil fell to five year low, Reuters reports
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December 11, 2014
13:09 EDTARWRArrowhead mentioned positively by Agora Financial
Agora Financial believes investors can "double [their] money — virtually overnight." and have a "realistic chance" to make "up to 10 times [their] money" by investing in Arrowhead Research, according to a new research report from the firm. Arrowhead shares are up nearly 10% to $5.98 in afternoon trading. Reference Link
07:26 EDTXOMPlatts to hold a forum
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05:27 EDTXOMExxon Mobil, Saudi Aramco JV complete clean fuels project
Saudi Aramco Mobil Refinery Company, or SAMREF, a joint venture of Saudi Aramco and ExxonMobil, has completed construction of major desulfurization facilities, including a new hydrotreater, that dramatically cuts sulfur levels in gasoline and diesel. The project is the largest investment in SAMREF’s history and will reduce the sulfur levels in gasoline and diesel by more than 98%, to 10 parts per million.
December 10, 2014
16:44 EDTXOMOn The Fly: Closing Wrap
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08:04 EDTXOMExxon Mobil management to meet with UBS
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December 9, 2014
09:09 EDTXOMAXOMA raises $40M in a registered direct offering
XOMA (XOMA), announced today the pricing of 8,097,165 shares of its common stock and accompanying warrants to purchase one share of common stock for each share purchased at a price to the public of $4.94. The warrants are exercisable at an exercise price of $7.90 per share beginning on the date of issuance and will expire on the second anniversary of the date of issuance. Cowen and Company is acting as the sole placement agent.
08:55 EDTXOMExxon Mobil to hold a webcast
Vice Presidents Colton and Cohen hold a webcast to launch ExxonMobil's 2015 Outlook for Energy: A View to 2040 on December 9 at 1 pm. Webcast Link
December 8, 2014
08:09 EDTXOMExxon Mobil management to meet with UBS
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07:53 EDTXOMClimate for Exxon E&P acquisition improved by falling prices, WSJ says
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06:21 EDTPETMDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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December 5, 2014
09:03 EDTBOBEBob Evans says financial statements can be relied upon
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07:43 EDTXOMLondon bankers see oil slump spurring energy industry consolidation, WSJ reports
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