TrovaGene IncTROV shares fell 40.7 percent to $0.26 in pre-market trading. Trovagene priced its 15 million share common stock offering at $0.30 per share. One Horizon Group IncOHGI shares fell 11.7 percent to $2.72 in pre-market trading after surging 185.16 percent on Thursday. CSX CorporationCSX fell 12.1 percent to $50.35 in pre-market trading following announcement that the CEO […]
ShiftPixy IncPIXY rose 109.7 percent to $4.55 in pre-market trading following Q4 earnings report. ShiftPixy reported sales of $20.244 million in the fourth quarter, up from $8.46 million year-over-year. The company sees first quarter gross billings of $40 million. Diana Containerships IncDCIX rose 49.9 percent to $7.30 in pre-market trading after falling 7.06 percent on Thursday. DDR […]
5 Stocks To Watch For December 15, 2017 Some of the stocks that may grab investor focus today are: Adobe Systems IncorporatedADBE posted stronger-than-expected profit for its fourth quarter. Adobe shares rose 0.91 percent to $176.60 in the after-hours trading session. Jabil IncJBL reported better-than-expected results for its first quarter and also issued second quarter sales guidance […]
Companies Reporting Before The Bell; OHR Pharmaceutical Inc OHRPis estimated to report a quarterly loss at $0.25 per share. Acorn International, Inc. (ADR) ATVis expected to report earnings for its third quarter. Mamamancini’s Holdings IncMMMB is projected to report a quarterly loss at $0.01 per share. Companies Reporting After The Bell; Learning Tree International, Inc. LTREis expected to […]
The Empire State manufacturing index for December is schedule for release at 8:30 a.m. ET. Data on industrial production for November will be released at 9:15 a.m. ET. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET. The Treasury International Capital data for October […]
The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday, June 5, 2017. Yip TV Said to Offer $9.50/Share for MagicJack The Rumor: YipTV is offering $9.50 per share tpo buy MagicJack VocalTec Ltd CALL, according to sources as reported by Axios. Sources say YipTV has negotiated approximately a $95 million credit facility through Goldman Sachs to help in financing a deal. MagicJack announced a strategic alternatives process in March. MagicJack closed at $7.65 on Monday, up $1.05. GTCR, Carlyle in Talks to Acquire Albany Molecular Research The Rumor: Private equity firm GTCR LLC and Carlyle Group LP CG are in talks to jointly take Albany Molecular Research, Inc. AMRI private, according to sources as reported by Reuters. Albany Molecular Research, GTCR and Carlyle did not immediately respond to requests for comment on the report. Albany Molecular Research closed at $19.77, down $0.40. Verizon Considers $100M Investment in Pandora The Rumor: Verizon VZ is considering a potential $100 million investment in Pandora Media P, according to sources as reported by the New York Post. That offer is said to come if Pandora doesn’t reach a deal to sell itself to SiriusXM, the sources said. The Post confirmed on May 17 that SiriusXM was holding active talks regarding an acquisition of Pandora and the offer is said to be between $11 and $12 per share, though earlier discussions may have been around $13. Pandora and Verizon declined comment. SiriusXM did not respond to requests for comment. Wedbush Analyst Michael Pachter told Benzinga, “I don’t think it’s accurate…Think SiriusXM makes much more sense, don’t see a fit with Verizon at all.” Pandora closed at $9.48, up $0.18. Rite Aid Says Actively Engaged in Discussions with FTC Regarding Merger, Store Sale The Memo: Rite Aid RAD sent the following memo to its employees on Monday with regarding to its proposed merger with Walgreens Boots Alliance WBA: “Today we wanted to provide you with an update regarding our pending merger with Walgreens Boots Alliance and the proposed sale of certain Rite Aid stores to Fred’s FRED. The Federal Trade Commission’s (FTC) review of our proposed merger has taken longer than expected, which has had a negative impact on our results. As a management team, we regret that this has created uncertainty and a challenging work environment for all of us at Rite Aid. We greatly appreciate the dedication you’ve displayed during this time and your tremendous efforts to serve our customers and support our fellow Rite Aid associates. We remain actively engaged in discussions with the FTC to attempt to gain regulatory approval and there can be no guarantee that the merger will be approved. However, we expect a decision sometime soon.” Rite Aid closed at $3.75, up $0.07.
Insider Trading: Purchases Insider Price Amount Relationship Remaning Holdings Date Form 4 Ng $1.85 36,600 Large Shareholder, Officer, Director 3,036,600 2017-05-25 Filing
Goldman Sachs analyst Waqar Syed believes frac sand fundamentals are becoming “Very Tight“ Analyst expects frac sand prices to continue to march higher for next several years. Goldman Sachs Analyst comments: “We believe investors are overly concerned about regional supply additions … Practical issues such as permitting, contracting and infrastructure constraints will likely limit supply adds” Analyst raised raised his price target on U.S. Silica Holdings (NYSE: SLCA) to $64.00 while maintaining a “BUY” rating. Raised 2017 EBITDA estimate from $284.9 million -to- (new) $351.1 million This positive view … Constitutes an upward revision of +23.00 percent He also raised his 2018-2020 EBITDA average estimates from $636 million to $658 million. FY 2017 EPS estimate rises from $1.27 to $1.80 FY 2018 EPS estimate rises from $3.35 to $3.51 FY 2019 EPS estimate rises from $4.06 to $4.21.
Michael Kors Holdings Ltd KORS 10.3% shares are trading lower by $3.65 (down 10 percent) at $33.07 in Wednesday’s session. Before the open, the company reported a fourth-quarter EPS beat of $0.03 along with a slight revenue beat. However, the Street is focusing on its much lower guidance for Q1 and fiscal year 2018 EPS and sales. After a lower open, it had a brief spike to $33,85 before continuing its move lower. So far, the ensuing decline has taken the issue to $32.55 and is now attempting to remain in the $33.00 handle. The issue is now trading at levels not seen since February 2012, when it bottomed at $30.76
Following the market opening Wednesday, the Dow traded down 0.32 percent to 20,962.22 while the NASDAQ declined 0.53 percent to 6,170.63. The S&P also fell, dropping 0.29 percent to 2,405.94. Leading and Lagging Sectors; Non-cyclical consumer goods & services sector was the top gainer in the US market on Wednesday. In trading on Wednesday, basic materials shares fell 0.86 percent. Meanwhile, top losers in the sector included Cliffs Natural Resources Inc CLF 7.74%, down 9 percent, and Koppers Holdings Inc. KOP 7.08%, down 8 percent. Top Headline; Michael Kors Holdings Ltd KORS 10.3% posted a loss for its fourth quarter loss and announced plans to close between 100 and 125 stores over the next 2 years. The company also issued a weak earnings forecast for the current quarter. However, the company’s adjusted earnings for the fourth quarter exceeded expectations. Michael Kors posted Q4 earnings of $0.73 per share on revenue of $1.06 billion. However, analysts were expecting earnings of $0.70 per share on revenue of $1.05 billion. Equities Trading UP; J.Jill Inc JILL 9.86% shares shot up 12 percent to $12.63. J Jill posted Q1 earnings of $0.24 per share on sales of $166.1 million. J Jill expects Q2 earnings of $0.27 to $0.29 per share. Shares of Mechel PAO (ADR) MTL 9.6% got a boost, shooting up 11 percent to $5.64. Mechel’s net profit for the first quarter surged to 13.9 billion roubles ($245 million), from 312 million roubles in the year-ago period. Columbus McKinnon Corp. CMCO 9.1% shares were also up, gaining 11 percent to $27.03. Columbus McKinnon posted Q4 adjusted earnings of $0.40 per share on revenue of $183.7 million. Equities Trading DOWN;Michael Kors Holdings Ltd KORS 10.3% shares dropped 9 percent to $32.99 after the company posted a loss for its fourth quarter loss and announced plans to close between 100 and 125 stores over the next 2 years. The company also issued a weak earnings forecast for the current quarter. Shares of EnerSys ENS 8.93% were down 8 percent to $76.50 after the company posted downbeat quarterly earnings. Koppers Holdings Inc. KOP 7.08% was down, falling around 8 percent to $34.65. Jefferies downgraded Koppers Holdings from Buy to Hold. Commodities; In commodity news, oil traded down 2.22 percent to $48.56 while gold traded up 0.26 percent to $1,269.00. Silver traded down 0.44 percent Wednesday to $17.35, while copper fell 0.08 percent to $2.562. Eurozone; European shares were higher today. The eurozone’s STOXX 600 gained 0.43 percent, the Spanish Ibex Index rose 0.67 percent, while Italy’s FTSE MIB Index gained 0.56 percent. Meanwhile the German DAX climbed 0.77 percent, and the French CAC 40 rose 0.51 percent while U.K. shares rose 0.68 percent. Economics; The Johnson Redbook Retail Sales Index declined 1.1 percent during the first four weeks of May versus April. The Chicago PMI declined to a reading of 55.2 in May, versus 58.3. The pending home sales index dropped 1.3 percent to 109.8 in April, versus a revised reading of March. Economists were expecting a 0.3 percent gain in April. The Federal Open Market Committee will release its latest Beige Book report at 2:00 p.m. ET. Data on farm prices for May will be released at 3:00 p.m. ET. San Francisco Federal Reserve Bank President John Williams is set to speak in Seoul at 7:30 p.m. ET.