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NYSE Market News

61% Increase in Revenue Drives Facebook Past IBM in Valuation

24 Jul 2014 @ 18:08
Just one look at the chart and you will see why all the ballyhoo about the botched Facebook (NASDAQ:FB) IPO was really “Much Ado About Nothing.” As of this very moment, Facebook’s share price of $76.37 is almost exactly double its IPO share price of $38.23 on 28 May 2012 and more than quadruple it post-IPO share price of $18.06 on 27 August 2012. It’s just another...

Don't Eat It. It Tastes Like Chicken.

21 Jul 2014 @ 22:37
It would not be a surprise to see a short-term decline in a number of fast food brand stocks, especially following what happened today in China, which probably contributed to declines today for Yum Brands (NYSE-YUM) and McDonald’s (NYSE:MCD) share prices. Several decades ago I was having a business dinner with a number of associates in Toronto at an upscale Vietnamese restaurant. The...

Is The Bubble Ready to Burst (Again)?

18 Jul 2014 @ 17:20
We don’t need a bevy of analysts to explain to us that we are deep into another stock market bubble. The markets’ body language tells the whole story. Traders are exhibiting the emotional traits that typically precede the bubble bursting. It’s a blend of giddiness and fear and the anxiety that comes with knowing that one must act quickly before the inevitable happens. Despite...

Ocwen Financial to repurchase from WL Ross & Co

14 Jul 2014 @ 22:32
Ocwen Financial Corporation, (NYSE:OCN), a financial services holding company, has announced that the 62,000 outstanding shares of its Series A Perpetual Convertible Preferred Stock were converted into common stock and immediately repurchased and cancelled. “This transaction is in addition to our strategy to repurchase shares of common stock roughly equivalent to our prior period...

Shire Succumbs to AbbVie's Desire to Acquire

14 Jul 2014 @ 17:52
There’s no doubt about it. Persistence can pay off. AbbVie (NYSE:ABBV) has been courting Shire plc (LSE:SHP) for some time now with takeover proposals, all of which Shire has shunned. The board of Shire has now reported that it is willing to recommend ABBV’s latest offer of £53.2 per share in cash and stock. Shire’s share price opened at 5,025.00 this morning, an increase of...

Where There's Smoke There's Fire

11 Jul 2014 @ 16:50
We all know the axiom that “Where there’s smoke, there’s fire.” But have you ever noticed how, when one person lights up, someone else inevitably does too? That’s what happened today when Imperial Tobacco ( LSE:IMT) lit up the news that it was hoping to acquire some brands currently the property of Lorillard (NYSE:LO) and Reynolds American (NYSE:RAI). The fire...

KEYW and Hexis teaming up?

10 Jul 2014 @ 23:44
Yep, they are? The KEYW Holding Corporation’s subsidiaries KEYW Corporation (Nasdaq:KEYW) and Hexis Cyber Solutions, Inc. (Hexis) are working with Oracle’s National Security Group (NSG) on advanced solutions for certain mission applications and advanced analytic development for KEYW’s U.S. Government customers. “Oracle has taken a lot of the work out of the system...

Northrop Grumman technology tested by NATO

08 Jul 2014 @ 22:22
Northrop Grumman Corporation (NYSE:NOC) has participated in Unified Vision 2014 (UV14), NATO’s largest trial of Joint Intelligence, Surveillance and Reconnaissance (JISR) capability aimed at demonstrating and evaluating the Alliance’s ability to coordinate and deploy crucial Allied ISR systems. During the 10-day trial, U.S. European Command, in close coordination with and in...

AbbVie Aggressive to Acquire Shire

08 Jul 2014 @ 15:43
Borrowing from the film, Poltergeist, “They’re baaaaack.” Just moments ago, Abbvie Inc. (NYSE:ABBV) put another offer on the table to acquire UK-based specialty pharmaceutical company, Shire Plc (LSE:SHP). AbbVie’s previous offer, made in June, was unequivocally rejected by Shire’s board of directors. Today’s offer is the fourth attempt by AbbVie to draw...

Let the Fireworks Begin!

01 Jul 2014 @ 18:02
It’s not even the Fourth of July yet, but the fireworks have already begun. The S&P has done it again, posting its longest streak of quarterly gains since 1998. And, just before noon EDT in New York, it appears that the rally is not yet over . Just 15 minutes ago. at 11:44 am, the S&P Index set a new intraday record of 1,970.43. The Dow and the Russell 2000 are headed in the same...
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