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Stock Market & Financial Investment News

News Breaks
February 5, 2013
18:52 EDTDDD, HPQ, SFLY, CME, CMG, PNRA, DIS, AFL, MMM, EXPE, ZNGA, USNAOn The Fly: After Hours Movers
UP AFTER EARNINGS: Zynga (ZNGA), up 6.5%... Disney (DIS), up 2.7%... Shutterfly (SFLY), up 15.3%... Expedia (EXPE), up 4.6%... Panera Bread (PNRA), up 3.8%... ALSO HIGHER: Hewlett-Packard (HPQ), up 3.7% after a report by Quartz said the company's board is considering a break up... 3M (MMM), up 1.5% after raising its dividend and authorizing a $7.5B share buyback program... 3D Systems (DDD), up 2.1% after announcing a 3-for-2 stock split... DOWN AFTER EARNINGS: Chipotle (CMG), down 0.9%... Aflac (AFL), down 1.5%... CME Group (CME), down 3.6%... USANA Health Sciences (USNA), down 5%.
News For ZNGA;DIS;SFLY;EXPE;PNRA;HPQ;MMM;CMG;DDD;AFL;CME;USNA From The Last 14 Days
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January 21, 2015
09:43 EDTCMEISS recommends GFI shareholders vote against merger with CME Group
BGC Partners (BGCP) announced that Institutional Shareholder Services has recommended that shareholders of GFI Group Inc. (GFIG) vote AGAINST the merger agreement with CME Group (CME) at the special meeting of GFI shareholders scheduled for January 27, 2015. Howard Lutnick, Chairman and CEO of BGC, said: "We are pleased that, after thorough and independent analysis, ISS recognizes the economic inferiority and conflicted nature of the proposed CME-GFI management $5.85 stock and cash transaction, as well as the economic superiority of BGC's $6.10 all-cash offer. We also note that ISS recommends that GFI shareholders tender their shares to BGC as long as the CME-GFI management bid remains below our offer price. We remain fully committed to completing this transaction and urge shareholders to protect the value of their investment in GFI by voting against all of the proposals related to the CME transaction at the special meeting of GFI shareholders. We also remind GFI shareholders to tender their shares into our clearly superior offer in order to receive the higher value to which they are entitled." In its analysis, ISS noted the following regarding the proposed CME transaction: "As the proposed transaction is economically inferior to the unsolicited all-cash competing offer, yet it is not at all clear that unaffiliated shareholders incur any greater downside risk in holding out for the economically superior offer from this ongoing bidding war, shareholders should vote AGAINST the proposed transaction on its current terms….and, if that offer does not improve to at least parity with the BGC bid, tender into the BGC offer instead..."
08:39 EDTDISDisney reports five employees affected by California measles outbreak, AP says
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08:03 EDTHPQHP PC market share, sales seem to have risen, says Argus
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07:09 EDTDDDPiper positive on Stratasys, cautious on 3D Systems after survey
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06:17 EDTDISOverstock to introduce streaming-video service later this year, WSJ reports
Overstock.com (OSTK) is planning to launch a streaming-video service later this year, CEO Patrick Byrne announced at the National Association of Television Program Executives conference, The Wall Street Journal reports. Overstock would compete in the space with Amazon (AMZN), Hulu (DIS, CMCSA, CMCSK, FOXA), Netflix (NFLX), and Time Warner's (TWX) HBO is also planning a standalone online streaming service that will launch this year. The new Overstock service would be tied to the company's $20-per-year Club O membership program and will launch with about 30,000 titles. Reference Link
January 20, 2015
17:46 EDTDISNetflix says 'looking good' to reach 60M-90M U.S. subscriptions
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14:09 EDTEXPEOrbitz jumps after Bloomberg says company may be exploring sale
Shares of online travel agency Orbitz Worldwide (OWW) are jumping after Bloomberg reported that the company is exploring the possibility of selling itself. In a note to investors on January 7, research firm FBR Capital wrote that the company could be acquired for over $10 per share, WHAT'S NEW: Orbitz is exploring a potential sale and private equity firms have expressed interest in acquiring the online travel agency, Bloomberg reported today. ANALYST VIEW: On January 7, research firm FBR Capital estimated that Orbitz could be acquired for $10.27 per share. The firm noted that a trade publication, Tnooz.com, had reported that Orbitz could be considering selling itself. Expedia (EXPE) and Priceline (PCLN) could each pay a premium of 30%-plus for Orbitz and still see their profits rise from the acquisition, FBR added. It kept a $9 price target and Outperform rating on Orbitz. PRICE ACTION: In mid-afternoon trading, Orbitz climbed 69c, or 7.5%, to $9.85.
14:00 EDTDISFCC fines Viacom, ESPN $1.4M after brodcasting EAS tones to promote movie
The Federal Communications Commission fined Viacom (VIA) and ESPN (DIS) $1.4M for misusing the Emergency Alert System warning tones. The cable networks transmitted EAS warning tones for several days in 2013 to promote the movie “Olympus Has Fallen,” which portrayed a terrorist attack on Washington, D.C. Broadcast or transmission of these tones outside an emergency or test violates the FCC’s laws protecting the integrity of the system. The networks admitted that the commercial contained actual EAS codes and appeared multiple times on the networks. In March 2014, the FCC proposed a total fine of $1,930,000 against NBCUniversal (CMCSA), ESPN, and Viacom. NBCUniversal paid its $530,000 fine, but ESPN and Viacom objected and requested reductions. The FCC rejected their arguments and imposed fines of $1,120,000 against Viacom and $280,000 against ESPN. The fines, which differ based on several factors including the number of channels involved and the number of transmissions on each channel, must be paid in 30 days.
13:51 EDTEXPEOrbitz draws private equity interest as sale explored, Bloomberg says
Orbitz Worldwide (OWW) is working with an adviser to contact potential buyers and has drawn interest from private-equity funds and "other Internet companies," according to Bloomberg, citing people with knowledge of the matter. Shares of Orbitz are up over 10% after the report, while several other names in the online travel space, such as Priceline (PCLN), Expedia (EXPE), and TripAdvisor (TRIP) are also moving. Reference Link
13:43 EDTEXPEExpedia, TripAdvisor tick higher after report on Orbitz sale exploration
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12:55 EDTHPQThousands of HP employees protest new China head, China Daily says
About 2,500 employees of HP's (HPQ) China based subsidiary, H3C Technologies, have signed a petition against HP's new China chairman, Mao Yu'nan, according to China Daily. The employees fear that Mao will endanger H#C's autonomy and torpedo an employee stock option plan that has been in the works for some time, the newspaper stated. Reference Link
11:13 EDTHPQHP looks to boost sales with specific tablets for professionals, Bloomberg says
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10:15 EDTDDD3D Systems call activity attributed to takeover speculation
3D Systems January weekly 29 and 30 calls are active on total call volume of 8,600 contracts (900 puts) on renewed takeover speculation. January weekly call option implied volatility is at 78, February is at 53, March is at 56; compared to its 26-week average of 47 according to Track Data. Active call volume suggests traders taking positions for price movement.
10:07 EDTDDDRumor: 3D Systems strength attributed to takeover speculation
Shares of 3D Systems are moving higher on speculation the company has hired an investment bank to review a potential sale of the company.
08:59 EDTPNRAPanera Bread downgraded to Hold on valuation at Wunderlich
Wunderlich downgraded Panera Bread to Hold from Buy with shares within 8% of its unchanged price target of $185. The firm still expects Panera's same-store sales to continue to improve thru 2015 and 2016.
08:39 EDTCMECME raises GFI Group offer to $5.85 per share
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08:37 EDTCMECME raises GFI Group offer to $5.85 per share
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08:11 EDTPNRAPanera Bread downgraded to Hold from Buy at Wunderlich
Wunderlich downgraded Panera Bread to Hold with a $185 price target.
06:09 EDTCMECME Group upgraded to Buy from Neutral at Citigroup
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January 19, 2015
12:56 EDTHPQHP-Autonomy investigation closed by U.K.'s Serious Fraud Office
The Director of the Serious Fraud Office has closed the SFO's investigation into the sale of Autonomy to the Hewlett-Packard company in 2011. This investigation was commenced in early 2013, following a referral from HP.In respect of some aspects of the allegations, the SFO has concluded that, on the information available to it, there is insufficient evidence for a realistic prospect of conviction.In respect of other aspects and on the application of well-established principles, jurisdiction over the investigation has been ceded to the US authorities whose investigation is ongoing. Reference Link
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