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10:33 EDTAAPLApple price target raised by noted analyst ahead of launches
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10:32 EDTSNSSSunesis volatility elevated
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10:30 EDTNCLHNorwegian Cruise Line jumps as acquires Prestige for $3.03B
Shares of cruise line operator Norwegian Cruise Line (NCLH) are up over 11% this morning after the company announced a definitive agreement to acquire Prestige Cruises International for $3.03B. WHAT'S NEW: Norwegian Cruise Line said it will acquire Prestige Cruises International, the parent company of Oceania Cruises and Regent Seven Seas Cruises, in a cash and stock deal for a total transaction consideration of $3.03B, including the assumption of debt. Additionally, a contingent cash consideration of up to $50M to Prestige shareholders would be payable upon achievement of certain 2015 performance metrics. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in Q4. Norweigian is expected to finance the deal with existing cash, debt facilities and the issuance of about 20.3M shares of its stock. Prestige operates eight ships and approximately 6,500 berths under two segment-leading brands. Under the terms of the deal, Frank Del Rio will remain Chief Executive Officer of Prestige. The acquisition is expected to be immediately accretive to earnings without synergies, and the inital $25M of synergies are expected to result in high single-digit percentage adjusted earnings per share accretion. WHAT'S NOTABLE: During the company's conference call discussing the acquisition, Norwegian said it expects measured growth through 2019, and expects leverage to return to four times within 18 months of the transaction. ANALYST REACTION: Prior to the official announcement, Stifel analysts said the deal makes sense for Norwegian from a high level perspective given the stability of the luxury segment, and as luxury brands appear to be resonating well in international markets likely to see growth like China and India. From a valuation standpoint, Stifel said the deal seems fair and the stock remains undervalued given the attractive growth profile. PRICE ACTION: During morning trading, Norwegian Cruise Line jumped $3.81 or 11.44%, to $37.12. OTHERS TO WATCH: Norwegian peer Carnival (CCL) is down almost 0.5% this morning, while Royal Carribean (RCL) is nearly flat.
10:30 EDTThe U.S. ISM August pop to 59.0
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10:29 EDTHRB, NVS, SEE, CSLT, JIVE, NRF, CCK, RBS, CONN, NVOHigh option volume stocks
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10:27 EDTIDCCInterDigital to host investor day
Investor Day to be held on September 4 at 10 am. Webcast Link
10:27 EDTTSLATesla hits fresh life high, levels to watch
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10:24 EDTAVGOAvago Technologies volatility at record low on sharp rally
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10:24 EDTVOD, SFTBF, SVodafone speculated as takeover target for Softbank, Nikkei says
Since SoftBank (SFTBF) abandoned its pursuit of Sprint (S), some observers have suggested the company shifted gears to pursue another acquisition, Vodafone (VOD), instead, with one SoftBank executive quoted by the Nikkei Asian Review as having said, "I wouldn't be surprised if our CEO acquired Vodafone, since we are no strangers to each other." Shares of Vodafone have come off their earlier lows and turned positive in early trading in New York following the circulation of the Nikkei report. Reference Link
10:22 EDTMWIVMWI Veterinary Supply acquires Vetspace
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10:20 EDTPSIXPower Solutions management to meet with Lake Street
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10:16 EDT$NYENYSE market internals summary
Volume is extremely heavy for this time of day. Breadth is bullish across the board. Advancing Issues: 2253 / Declining Issues: 1812 -- for a ratio of 1.2 to 1. Advancing Volume: 244,793,000 / Declining Volume: 235,516,000 -- for a ratio of 1.0 to 1. New 52-Week Highs: 336 / New 52-Week Lows: 27.
10:16 EDT$NSDNASDAQ market internals summary
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10:15 EDTU.S. ISM manufacturing index climbed to 59.0 in August
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10:15 EDTFX Action: The dollar moved marginally higher
FX Action: The dollar moved marginally higher after the better Manufacturing ISM and construction spending outcomes, taking EUR-USD to 1.3120 from 1.3125, and USD-JPY to 105.05 from 104.95. Stocks remain moderately lower, while yields are up from pre-open lows. FX trade remains quiet overall, with light volumes generally reported.
10:15 EDTTreasury Action: yields backed higher
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10:15 EDTU.S. construction spending rebounded 1.8% in July
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10:09 EDTMNST, KO, PEPStudy finds adverse heart events associated with energy drinks, ScienceWR says
A study presented at the European Society of Cardiology congress concluded that caffeinated energy drinks can be associated with several adverse heart conditions including angina, cardiac arrhythmia and sudden death, reported Science World Report. Monster Beverage (MNST) markets energy drinks and recently struck a deal to acquire additional energy drink brands from Coca-Cola (KO). PepsiCo also markets energy drinks. Reference Link
10:02 EDTANET, EARS, ENDP, FNHC, FLS, GNBC, HCI, HMLP, ICD, LOXO, MHR, PEIX, RVM, TTOO, TASR, TSYS, UIHC, UVE, DSKYOn The Fly: Analyst Initiation Summary
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10:02 EDTAWK, AZO, BXS, BA, EMES, EXEL, FNSR, FCX, OSIS, PHM, RSG, SNN, VLEEY, YAHOYOn The Fly: Analyst Downgrade Summary
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