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Stock Market & Financial Investment News

News Breaks
February 19, 2014
09:10 EDTMFRM, SCTY, CG, TS, ZLC, OCR, UCTT, DVN, ACT, X, SM, SUNE, GRMN, CHTP, SIGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Garmin (GRMN), up 12%... Carlyle Group (CG), up 6.5%... Ultra Clean (UCTT), up 18%... SunEdison (SUNE), up 3%. ALSO HIGHER: Zales (ZLC), up 40% after Signet Jewelers (SIG) to acquire the company for $21.00 per share cash. Signet Jewelers is up 11.6% after the news... Chelsea Therapeutics (CHTP), up 33.5% after Northera granted FDA accelerated approval... Actavis (ACT), up 1.4% after reiterating standalone FY14 adjusted EPS view, shares upgraded at Goldman... Devon Energy (DVN), up 1.8% after earnings, announcing sale of Canadian conventional assets to Canadian Natural Resources (CNQ). DOWN AFTER EARNINGS: Mattress Firm (MFRM), down 10%... Omnicare (OCR), down 4.3%. ALSO LOWER: U.S. Steel (X), down 4.4%, Tenaris down 5.4% after U.S. excludes South Korea from steel tubing tariffs... SolarCity (SCTY), down 1.4% following downgrade at RW Baird... SM Energy (SM), down 11% after earnings, downgrades at Tudor Pickering and KeyBanc.
News For ZLC;SIG;X;TS;CHTP;ACT;CG;GRMN;DVN;SCTY;SUNE;UCTT;MFRM;SM;OCR From The Last 14 Days
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March 17, 2015
10:45 EDTXStocks with call strike movement; X BBRY
U.S. Steel (X) March 24 call option implied volatility increased 8% to 52, BlackBerry (BBRY) September 11 call option implied volatility decreased 2% to 50 according to IVolatility.
10:00 EDTSMOn The Fly: Analyst Upgrade Summary
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09:19 EDTACTActavis reinstated with a Conviction Buy at Goldman
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09:13 EDTACTActavis says Allergan CEO not joining combined company board
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09:12 EDTSMSM Energy upgraded to Buy from Accumulate at Global Hunter
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08:59 EDTACTActavis sees combined annual pro forma revenues of over $23B in 2015
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08:58 EDTACTActavis sees double digit accretion to adjusted EPS within first 12 months
08:58 EDTACTActavis says will 'immediately begin implementing' integration plans
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08:57 EDTACTActavis completes acquisition of Allergan
Actavis plc (ACT) announced that it has completed the acquisition of Allergan (AGN) in a cash and equity transaction valued at approximately $70.5B. The combination creates one of the world’s top 10 pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23B anticipated in 2015. Actavis continues to expect the transaction to generate double-digit accretion to non-GAAP earnings within the first 12 months, including approximately $1.8B in operating and financial synergies to be realized within one year following the close. These synergies exclude any additional revenue or manufacturing synergies, and are in addition to the $475M of annual savings previously announced by Allergan in connection with Project Endurance. Actavis further expects to generate strong operating cash flow in excess of $8B in 2016, which would enable the company to rapidly de-lever the balance sheet.
08:56 EDTACTActavis completes Allergan acquisition valued at $70.5B
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March 16, 2015
18:38 EDTACTAmerican Airlines to replace Allergan in S&P 500 as of 3/20 close
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16:10 EDTACTActavis receives FDA approval for VIIBRYD 20mg once daily
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12:42 EDTXU.S. Steel trades lower with peers, levels to watch
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12:39 EDTXSteels stocks lower after report of rising China exports, analyst note
Steel stocks are lower after a Wall Street Journal report on increasing Chinese steel exports and an analyst note that lowered price targets on the sector. WHAT'S NEW: A Wall Street Journal report from Sunday night pointed out that China's steel exports rose 63% to 9.2M tons in January from a year earlier. China produces as much steel as the rest of the world combined and as the country's growth slows it is shipping its excess steel overseas, resulting in lower prices and spurring steel producers around the globe to seek government protection. ANALYST VIEW: In a note to investors, Jefferies said steel fundamentals stayed challenging throughout the first quarter and the firm lowered its price targets on a number of names in the sector to account for its reduced estimates. Jefferies lowered its price target on U.S. Steel (X) to $21 from $26, cut its price target on Schnitzer Steel (SCHN) to $17 from $20, reduced its price target on Nucor (NUE) to $57 from $61, and trimmed its target on AK Steel (AKS) to $3.75 from $4.75. Jefferies noted that a majority of its contacts expect steel prices to trough sometime in the second quarter and the firm said it believes "mini-mill" producers like Steel Dynamics (STLD) and Nucor are best positioned in the group. PRICE ACTION:In midday trading, United States Steel is down 1.24%, AK Steel is lower by 2%, Schnitzer Steel Industries is down 4.3%, Steel Dynamics is down 0.96%, and Nucor is up fractionally.
11:49 EDTXChina steel exports set to rise from last year's level, WSJ says
As China's economy slows it is exporting its excess steel in greater amounts and is causing a backlash from other steel producers who are seeking government protection from falling prices, says the Wall Street Journal. China's steel exports in January were up 63% to 9.2M tons from a year earlier, added the Wall Street Journal. Publicly traded companies in the space include U.S. Steel (X), AK Steel (AKS), Steel Dynamics (STLD) and Nucor Corporation (NUE). Reference Link
10:22 EDTACTEuropean Commission clears Actavis' pending acquisition of Allergan
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10:02 EDTGRMNOn The Fly: Analyst Downgrade Summary
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08:11 EDTXSteel seen as likely to bottom in Q2 after weak Q1, says Jefferies
Jefferies said steel fundamentals stayed challenging throughout Q1 and the firm lowered its price targets on a number of names in the sector to account for its reduced estimates. Jefferies lowered its price target on U.S. Steel to $21 from $26, cut its price target on Schnitzer Steel (SCHN) to $17 from $20, reduced its price target on Nucor (NUE) to $57 from $61 and trimmed its target on AK Steel to $3.75 from $4.75. Jefferies noted that a majority of it contacts expect steel prices to trough sometime in Q2 and the firm said it believes "mini-mill" producers like Steel Dynamics (STLD) and Nucor are best positioned in the group.
07:28 EDTGRMNGarmin downgraded at Oppenheimer
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06:40 EDTGRMNGarmin downgraded to Perform from Outperform at Oppenheimer
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