Stockwinners Market Radar for April 22, 2018 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
VIA... | Hot Stocks19:29 EDT On The Fly: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Fresenius (FSNUY) decided to terminate the company's merger agreement with Akorn (AKRX), citing Akorn's "failure to fulfill several closing conditions." The company said in a statement, "Fresenius' decision is based on, among other factors, material breaches of FDA data integrity requirements relating to Akorn's operations found during Fresenius' independent investigation. Fresenius offered to delay its decision in order to allow Akorn additional opportunity to complete its own investigation and present any information it wished Fresenius to consider, but Akorn has declined that offer." Responding to Fresenius announcement, Akorn said in a statement that "We categorically disagree with Fresenius' accusations. The previously disclosed ongoing investigation, which is not a condition to closing, has not found any facts that would result in a material adverse effect on Akorn's business and therefore there is no basis to terminate the transaction. We intend to vigorously enforce our rights, and Fresenius' obligations, under our binding merger agreement." 2. Tencent Music Entertainment Group is preparing what would be one of the biggest technology IPOs ever, according to The Wall Street Journal. The digital-music business of Tencent (TCEHY) plans to interview potential underwriting banks over the next month, sources told the publication. 3. There has been a tension between the world's largest tech companies - Alphabet (GOOG; GOOGL), Amazon (AMZN), Facebook (FB), Apple (AAPL), Microsoft (MSFT), Baidu (BIDU), and Alibaba (BABA)-and the chip companies they rely on, especially Intel (INTC) and Nvidia (NVDA), Tiernan Ray wrote in this week's edition of Barron's. While the giants buy massive quantities of Intel's microprocessors, and Nvidia's graphics chips, or GPUs, to power their data centers, they are also in an arms race to have the best artificial-intelligence-based machine-learning functions, the report noted, adding that there was always the possibility they may decide to buy fewer off-the-shelf parts and make their own custom chips to get an edge on one another. 4. Paramount's (VIAB) horror sensation "A Quiet Place" reclaimed the number one spot in its third weekend of release, with $22M for a domestic total of $132M. Rated PG-13, the pic directed by John Krasinski earned a B+ CinemaScore and sports a 97% Rotten Tomatoes score. 5. Enterprise Products Partners (EPD), Magellan Midstream Partners (MMP), MPLX (MPLX), Plains All American Pipeline (PAA), Carnival (CCL), Royal Caribbean (RCL), Norwegian Cruise Line (NCLH), Walt Disney (DIS), General Mills (GIS), Delta Air Lines (DAL), General Motors (GM), and Tapestry (TPR) saw positive mentions in Barron's.
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TAHO | Hot Stocks18:13 EDT Tahoe Resources labor strike at La Arena mine in Peru - Tahoe Resources reports a labor strike at its La Arena mine in Peru, which started on Friday, April 20. The company is currently in an active collective bargaining period with the La Arena Union which occurs annually. The Union represents approximately 65% of the total workforce at La Arena. The company recently paid the workers its annual profit sharing as defined by Peruvian Labor Law. Profit sharing is paid by all mines in Peru in strict accordance with the Labor Law. However, the La Arena Union has indicated that they want to be compensated a higher amount of profit sharing than has been established in the Labor Law. The company is in active dialogue with the La Arena Union and is looking forward to achieving a mutually-agreeable solution in the near-term. In the meantime, not all employees are participating in the strike and production is not currently expected to be materially and adversely impacted.
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TWX... | Hot Stocks17:04 EDT Box Office Battle: 'A Quiet Place' reclaims first place with $22M - Paramount's (VIAB) horror sensation "A Quiet Place" reclaimed the number one spot in its third weekend of release, with $22M for a domestic total of $132M. Rated PG-13, the pic directed by John Krasinski earned a B+ CinemaScore and sports a 97% Rotten Tomatoes score. BOX OFFICE RUNNERS-UP: Warner Bros.' (TWX) New Line movie "Rampage" came in second, earning $21M in its second weekend of release for a domestic tally of $66.6M. Behind it was STX Entertainment's "I Feel Pretty," with an estimated $16.2M from 3,440 theaters. 21st Century Fox's (FOXA; FOX) "Super Troopers 2" placed number four, debuting with $14.7M from 2,038 theaters. Rounding out the top five, Comcast (CMCSA, CMCSK) subsidiary Universal's "Truth or Dare" earned an estimated $7.9M from 3,068 theaters. Other publicly traded companies in filmmaking include Disney (DIS), Lionsgate's (LGF.A), and Sony's (SNE).
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AKRX FSNUY | Hot Stocks16:19 EDT Akorn responds to Fresenius decision to terminate merger agreement - Akorn (AKRX) issued a statement in response to Fresenius (FSNUY) Kabi's announcement that it is seeking to terminate the definitive merger agreement announced on April 24, 2017. "We categorically disagree with Fresenius' accusations. The previously disclosed ongoing investigation, which is not a condition to closing, has not found any facts that would result in a material adverse effect on Akorn's business and therefore there is no basis to terminate the transaction. We intend to vigorously enforce our rights, and Fresenius' obligations, under our binding merger agreement," the company said.
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AKRX FSNUY | Hot Stocks14:08 EDT Fresenius terminates merger agreement with Akorn over data breaches - Fresenius (FSNUY) decided to terminate the company's merger agreement with Akorn (AKRX), citing Akorn's "failure to fulfill several closing conditions." The company said in a statement, "Fresenius' decision is based on, among other factors, material breaches of FDA data integrity requirements relating to Akorn's operations found during Fresenius' independent investigation. Fresenius offered to delay its decision in order to allow Akorn additional opportunity to complete its own investigation and present any information it wished Fresenius to consider, but Akorn has declined that offer." Fresenius also confirmed its guidance for 2018. The company continues to expect a sales growth of 5%-8% in constant currency. Group net income is expected to increase by 6%-9% in constant currency. On Saturday, Fresenius Medical Care announced the sale of Sound Inpatient Physicians Holdings. The expected pre-tax book gain of around EUR 800M on the transaction is excluded from its 2018 outlook.
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