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News Breaks
June 19, 2014
11:44 EDTYHOO, LULUStocks with call strike movement; LULU YHOO
lululemon (LULU) December 45.5 call option implied volatility decreased 2% to 36, Yahoo (YHOO) October 42 call option implied volatility decreased 2% to 39 according to IVolatility.
News For YHOO;LULU From The Last 14 Days
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November 25, 2015
10:08 EDTYHOOYahoo higher after canceling appearance at tech conference
Yahoo has canceled its appearance at next week's technology conference hosted by Credit Suisse, according to sources. The reason behind the cancelation remains unclear. Shares of Yahoo are up 45c to $33.41 in early trading.
09:58 EDTYHOOYahoo November weekly options active
Yahoo November 33 and 34 calls are active on total call volume of 3,700 contracts (puts 1300 contracts). November weekly call option implied volatility is at 26, December is at 34, January is at 33; compared to its 52-week range of 14 to 33. Active options volume suggests traders taking positions for price movement.
06:23 EDTLULUlululemon implied volatility of 61 at upper end of index mean range
November 24, 2015
08:51 EDTLULUExpress American Eagle lululemon business trends strong, says BMO Capital
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06:16 EDTYHOOInsiders losing patience with Yahoo CEO Mayer's growth plan, WSJ says
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05:58 EDTLULUlululemon implied volatility of 62 at upper end of index mean range
November 23, 2015
16:20 EDTLULUOn The Fly: Top stock stories for Monday
The buyers and sellers spent most of the day in a tug-of-war, sending the averages back and forth across the flat line. The market is coming off one of its best weeks of the year and spent the day consolidating its most recent gains. The price of crude acted much like equities, as it too moved back and forth across the flat line and was virtually unchanged in the end. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing PMI for November fell 1.5 points to 52.6, missing expectations for a 54.0 reading. Existing home sales dropped 3.4% to a 5.36M rate in October, lower than the forecast for a 5.4M rate. The Chicago Fed National Activity Index showed a reading of -0.04, versus the expected +0.05 reading. In Europe, Markit's composite services and manufacturing PMI rose to 54.4 in October from a prior reading of 53.9. That reading marks the euro-area's highest level since May 2011. COMPANY NEWS: The well-telegraphed deal to create the world's largest drugmaker was made official this morning, though shares of both of the merging companies sold off as investors continue to fret that the U.S. government may step in to block the transaction, or at least make it less lucrative due to tax code changes. Pfizer (PFE) announced it will combine with Allergan (AGN) in a stock transaction valued at $363.63 per Allergan share on November 20 in a deal with a total enterprise value of approximately $160B. However, Allergan shares declined $10.74, or 3.56%, to $301.70 following the announcement, while Pfizer dipped 86c, or 2.69%, to $31.32... Alcoa (AA) rose 38c, or 4.37%, to $9.07 after activist investor Elliott Management revealed a 6.4% stake, saying it seeks to engage in a "constructive dialogue" regarding the company's recently announced spinoff plans as well as a number of added opportunities it sees to maximize shareholder value... In other activist investor news, Carl Icahn turned up the heat on AIG (AIG) CEO Peter Hancock, saying his talks with Hancock make it "abundantly clear" that he is not willing to take the steps that Icahn has pushed for, including the suggestion that the insurer break up to shrink below the threshold for systemically important financial institutions. Icahn intends to soon commence a consent solicitation, which may include a proposal to add a new director who would agree in advance to succeed Hancock as CEO if asked by the board to do so. MAJOR MOVERS: Among the notable gainers was Tyson Foods (TSN), which rallied $4.44, or 10.17%, to $48.09 after the meat producer reported better than expected quarterly revenue and gave guidance for fiscal 2016. Also higher was lululemon (LULU), which rose another 7% to $52.77, adding to recent gains, as speculation over a possible takeover by a larger rival, such as Under Armour (UA) or Nike (NKE), persists, fueled by continued media mentions. Among the noteworthy losers was GameStop (GME), which fell $1.64, or 4.18%, to $37.62 after reporting weaker than expected Q3 results. Electronic Arts (EA) also slipped 4.75% to $68.98 after GameStop made comments about its "Star Wars Battlefront" game falling short of expectations so far, though several analysts contended the game retailer's comments should be taken with a grain of salt, cautioning that a shift to digital sales may be playing a role in that apparent softness. INDEXES: The Dow fell 31.13, or 0.17%, to 17,792.68, the Nasdaq lost 2.44, or 0.05%, to 5,102.48, and the S&P 500 slipped 2.58, or 0.12%, to 2,086.59.
13:25 EDTLULULululemon adds to gains as takeover speculation persists
Shares of Lululemon Athletica (LULU) rose in afternoon trading as speculation over a possible takeover by a larger rival persists, fueled by continued media mentions. WHAT'S NEW: On Friday, dealReporter credited a Thursday gain for Lululemon to "unsubstantiated rumors" that Under Armour (UA is seeking to make a $62 per share takeover bid for the yoga apparel maker. DealReporter said that Under Armour may not be the best fit to acquire Lululemon based on differences in branding, marketing and culture, but said that Nike (NKE) would be a better fit to take over the apparel company, since it is in the "right position at the right time" to make such a deal work, contacts told The Fly. WHAT'S NOTABLE: Three days after dealReporter commented on the rumors, the New York Post said today that there was "plenty of chatter" that Lulu and Under Armour were in discussions over a possible deal, noting that the latter company has been "actively seeking" growth in the women's sportswear sector. The Post noted that Bloomberg Gadfly suggested that Nike should be spending $7.5B to acquire Lululemon instead of using that money for a $12B buyback. PRICE ACTION: In afternoon trading, Lululemon rallied 5% to $51.76. Over the past five days, Lululemon is up nearly 15%. Reference Link
November 22, 2015
19:37 EDTYHOOTop Yahoo media executive leaves company, Re/code says
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November 20, 2015
09:36 EDTLULUNike, not Under Armour, should buy lululemon, dealReporter says
Lululemon (LULU) gained 3.6% yesterday, which dealReporter credits to "unsubstantiated rumors" that Under Armour (UA) was planning to make a $62 per share takeover bid. Given the differences in their branding, marketing, and culture, dealReporter said it is not sure such a deal would be a good fit, but added that it believes Nike (NKE) is in the "right position at the right time" to make such an acquisition of lululemon work, contacts tell The Fly.
November 19, 2015
11:00 EDTLULUlululemon November calls active on renewed takeover speculation
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10:55 EDTLULURumor: lululemon strength attributed to renewed takeover speculation
The Fly, in fulfilling its mission of explaining stock movement, often comes across the many unconfirmed rumors being passed through trading desks and social media platforms. On the occasion that rumors or speculation appear on The Fly's news feed, it should be viewed not as giving credence to the conjecture, rather as simply highlighting its impact on the stock prices of the companies involved.
08:03 EDTYHOOStarboard urges Yahoo to sell core businesses
In a letter delivered to Yahoo's Chairman, CEO And board, Starboard stresses that a proposed spin-off of Aabaco Holdings is not Yahoo's best alternative. It adds that a sales of Yahoo's core business would be the best risk-adjusted outcome for shareholders. In the letter, Starboard stated, "We have grown increasingly frustrated with your unwillingness to accept our help and your dismissive approach to our serious concerns about the current situation at Yahoo! Inc. ("Yahoo"). As you, the management team, and your advisors requested from us over a year ago, we have attempted to work with you privately and agreed not to pursue the nomination and election of directors at last year's annual meeting. Despite our numerous conversations and meetings, and notwithstanding your willingness to provide us an audience, you have been reluctant to respond or adapt to the realities of the current environment. The current situation that Yahoo faces is so important that we now feel it is necessary to communicate with management and the Board of Directors in a manner such that our message is not only as explicit as possible for you, but also for our fellow Yahoo shareholders. The proposed spin-off of Aabaco Holdings is not Yahoo's best alternative. Instead, you should be exploring a sale of Yahoo's core Search and Display advertising businesses and leave Yahoo's ownership stakes in Alibaba Group and Yahoo Japan in the existing corporate entity."
06:00 EDTYHOOStarboard sends letter to Yahoo, urges halt of Alibaba spinoff plan, WSJ reports
Yahoo (YHOO) shareholder Starboard Value sent a letter to the company urging the company to halt the plan to sell its stake in Alibaba (BABA) due to the risk of incurring taxes on the sale, the Wall Street Journal reports. The activist investor instead wants Yahoo to sell its struggling Internet business, the report says. Starboard supported the sale of over $20B in Alibaba shares before the IRS denied Yahoo's request for a private letter ruling on whether the spinoff would be considered tax free. Reference Link
November 18, 2015
07:28 EDTYHOOYahoo taxes could amount to more than value of Alibaba stake, says SunTrust
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06:15 EDTYHOOYahoo included in New York's daily fantasy sports investigation, Reuters says
An investigation by the New York attorney general into the daily fantasy sports industry will no include Yahoo, Reuters reports, citing a person familiar with the matter. Yahoo operates its own daily fantasy site and received a subpoena by New York AG Eric Schneiderman, the report says. Reference Link
November 17, 2015
08:50 EDTYHOOCheetah Mobile reports strategic partnership with Yahoo
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November 16, 2015
17:02 EDTLULUPoint72 added to lululemon position, subtracted from Netflix position
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November 13, 2015
10:50 EDTLULUOptions with increasing implied volatility
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