UBS Remains Sidelined on Constellation Brands (STZ) Following 2Q - PT to $182
- Wall St set to open lower as Meta Platforms, economic data weigh
- Q1 US GDP shows surprise slowing and uncomfortable inflation
- Meta shares dip on softer Q2 revenue guidance, elevated AI spending plans
- Oil steady as US demand concerns balance Middle East conflict risks
- US dollar briefly falls vs yen after GDP data
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- Hasbro (HAS) brand strength sees earnings top expectations
- Meta Platforms (META) Tops Q1 EPS by 39c, Offers Guidance
- Seagate Technology (STX) Enters $600M Asset Purchase Agreement with Avago
- Crude Inventory Declined 6.4 Million Barrels Last Week
- Meta Platforms, IBM, Caterpillar fall premarket; American Airlines, Chipotle rise
- After-hours movers: Meta, Ford, IBM, ServiceNow and more
- Midday movers: Tesla, Boeing rise; Uber, Old Dominion Freight fall
- After-hours movers: Tesla, Texas Instruments, Seagate, Visa and more
- Midday movers: PepsiCo, JetBlue fall; GM, Danaher and UPS rise
Notable Mergers and Acquisitions 10/5: (ENH) (NOK) (STZ) (TMH)
October 5, 2016 9:40 AM EDT*** SOMPO Holdings, Inc ("SOMPO") and Endurance Specialty Holdings Ltd. (NYSE: ENH) today announced that they have entered into a definitive agreement for the acquisition of 100% of the outstanding ordinary shares of Endurance by SOMPO for US$93 per share in cash.
The aggregate consideration is JPY 637.5 bn (approximately US$ 6, 304 m[i]), which represents approximately a 40.3% premium to Endurance's closing share price on 3 October 2016 and approximately a 41.6% premium to the average share price over the last 3 monthsThe acquisition has been approved by the Board of Directors of Endurance and is subject to... MorePre-Open Stock Movers 10/05: (CPRX) (ACIA) (TWTR) Higher; (IMMU) (ULH) (CRM) Lower (more...)
October 5, 2016 9:20 AM EDTPre-Open Stocks Movers
Immunomedics, Inc., (Nasdaq: IMMU) 27% LOWER; announced that it has priced an underwritten offering of 10,000,000 shares of common stock and warrants to purchase up to 10,000,000 shares of common stock with anticipated gross proceeds of $30 million.
Catalyst Pharmaceutical Partners (NASDAQ: CPRX) 16% HIGHER; Piper Jaffray upgraded from Neutral to Overweight with a price target of $4.00 (from $1.00
Universal Logistics Holdings, Inc. (NASDAQ: ULH) 11% LOWER; Q3 results and... More
Constellation Brands (STZ) Tops Q2 EPS by 10c; Agrees to Acquire High West Distillery
October 5, 2016 7:38 AM EDTConstellation Brands (NYSE: STZ) reported Q2 EPS of $1.75, $0.10 better than the analyst estimate of $1.65. Revenue for the quarter came in at $2.02 billion, versus $1.73 billion reported last year.
Today, the company announced an agreement to purchase the Utah-based High West Distillery for approximately $160 million. This... More
Trading Radar for 10/5: Monsanto (MON), Constellation Brands (STZ), Global Payments (GPN) Report
October 4, 2016 2:57 PM EDTThe Trading Radar highlights key earnings and economic announcements for the next trading session:
Before Markets Open:
Economics:
8:15am EDT
8:30am EDT
Trade Balance - Street sees... MoreConstellation Brands (STZ) volatility increases into Q2 and outlook
October 4, 2016 2:46 PM EDTConstellation Brands (NYSE: STZ) October call option implied volatility is at 27, November is at 22; compared to its 52-week range of 16 to 34 into the expected release of Q2 results on October 5.
... More