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Tesla Stock Surges as Musk Says May Take Company Private

Tesla Stock Surges as Musk Says May Take Company Private

Tesla (TSLA) shares jumped on Tuesday after co-founder Elon Musk tweeted that he was considering taking the electric-vehicle maker private. “Am considering taking Tesla private at $420. Funding secured,” the company’s chief executive officer said from his Twitter account. The shares were recently trading at $360.99. Musk, who often engages with both supporters and detractors on social media, didn’t offer […]

Reports Mattress Firm Exploring Bankruptcy Seen as Positive For Tempur Sealy International

Reports Mattress Firm Exploring Bankruptcy Seen as Positive For Tempur Sealy International

Reports that Mattress Firm (MFRM) is exploring bankruptcy is positive for Tempur Sealy International (TPX) as the company likely would capture some share of sales that would otherwise go to the struggling retailer, Wedbush said in a note to clients on Tuesday. A Reuters report on Monday said Steinhoff and Mattress Firm hired Alix Partners, potentially to prepare for Chapter […]

Goldman Reiterates Positive Outlook on Suncor, Canada Pacific, Phillips 66 Amid Widening Western Canadian Crude Differentials

Goldman Reiterates Positive Outlook on Suncor, Canada Pacific, Phillips 66 Amid Widening Western Canadian Crude Differentials

Goldman reiterates its supportive outlook on Suncor Energy (SU), Canada Pacific (CP), Phillips 66 (PSX) and Marathon Petroleum (MRO) as these companies will benefit from widening Western Canadian heavy crude oil differentials. Western Canadian heavy crude oil differentials have re-widened from a period of seasonally tighter spreads in the second quarter amid a faster-than-anticipated production ramp, planned refining downtime and […]

Bond Prices Slide as Stocks Head Higher – 10-Year 2.945%

Bond Prices Slide as Stocks Head Higher – 10-Year 2.945%

US Treasury prices slid early Tuesday, inching yields higher, along with Japanese government bonds (JGB) and core Europeans, as global equities rallied. The front end of the Treasury curve was under-performing slightly ahead of Tuesday’s $34 billion three-year Treasury auction. The two-year yield was up 0.8 basis point near 2.657%, with the 10-year rate up 0.6 bp to 2.945%. Weakness […]

Tyson Foods’ Price Target From RBC Cut to $77

Tyson Foods’ Price Target From RBC Cut to $77

Tyson Foods (TSN) received a price-target reduction Tuesday from RBC Capital Markets, which cited greater-than-anticipated softness in chicken demand as the firm reduced its earnings estimates for the food company known for its namesake, Jimmy Dean and Hillshire Farm brands. The cut comes a day after Tyson Foods reported fiscal Q3 adjusted earnings per share above analysts’ expectations but its […]

Cardinal Health’s Price Target From RBC Cut to $56 From $61

Cardinal Health’s Price Target From RBC Cut to $56 From $61

Cardinal Health (CAH) received a price-target reduction from RBC Capital Markets after the health-care services and products company reported fiscal Q4 results above analysts’ expectations Monday but the midpoint of its guidance range for fiscal 2019 adjusted earnings per share missed analysts’ mean estimate. The new price target from RBC is $56 per share, down from $61. The stock closed […]

Pandora Media’s Strong Financials Means Upgrade at Barrington

Pandora Media’s Strong Financials Means Upgrade at Barrington

Pandora Media’s (P) revenue and earnings beat earned it an upgrade at Barrington Research as ad-monetization trends continue to be “robust.” The company last week reported second-quarter revenue of $384.8 million, up from $376.8 million a year earlier and ahead of consensus from Capital IQ for $373.5 million. Non-GAAP loss was $0.15 a share, narrower than the year-ago loss of […]

Bemis to Be Acquired by Australian Rival Amcor in $6.8 Billion Deal

Bemis to Be Acquired by Australian Rival Amcor in $6.8 Billion Deal

Bemis Company (BMS) is poised to be taken over by Australian rival Amcor in an all-stock deal valued at $6.8 billion that will see Amcor list shares on the New York Stock Exchange. Shareholders of Neenah, Wisconsin-based Bemis will own 29% of the combined consumer packaging firm and Amcor investors will take 71%, the companies said in a statement on […]

Neovasc Soars 17% as Data Showed Neovasc Reducer ‘Very Safe’ in Significantly Lowering Angina Severity

Neovasc Soars 17% as Data Showed Neovasc Reducer ‘Very Safe’ in Significantly Lowering Angina Severity

Shares of Neovasc (NVCN), a developer of minimally invasive transcatheter mitral valve replacement technologies, surged 17% intraday after the company said Monday results from a study undertaken to assess the safety and effectiveness of the Neovasc Reducer showed that the treatment was “very safe and significantly reduced the severity of angina.” In the published study, the safety and effectiveness of […]