Post Market News: Yahoo, Dell, Lennar, Onyx, Tesla Motors, SHFL

Post Market News: Yahoo, Dell, Lennar, Onyx, Tesla Motors, SHFL
market news

Post Market Update

Market news Dell Yahoo

Stocks that traded actively in U.S. markets on Tuesday include:
Yahoo! Inc. (NASDAQ:YHOO), Dell Inc. (NASDAQ:DELL), PulteGroup, Inc. (NYSE:PHM), Lennar Corporation (NYSE:LEN), Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX), Tesla Motors Inc (NASDAQ:TSLA), Bally Technologies Inc. (NYSE:BYI), SHFL entertainment Inc (NASDAQ:SHFL).

Mohnish Pabrai On Uber Cannibals And Henry Singleton

At the end of October, the value investor Mohnish Pabrai gave a presentation and took part in a Q&A session at Boston College and Harvard Business School on the Uber Cannibal Investor Framework, which he has developed over the past decade. Uber Cannibals are the businesses “eating themselves by buying back their stock,” the value Read More

Market Levels:

US: Dow: 15451.80 (-0.21%), S&P 500: 1675.60 (-0.41%), NASDAQ: 3598.50 (-0.25%)
Europe: CAC: 3851.03 (-0.72%), DAX: 8201.05 (-0.41%), FTSE: 6556.35 (-0.45%)
Asia-Pacific: Australia: 4986.00 (0.10%), China: 2065.72 (0.31%), Hong Kong: 21312.38 (0.04%), Japan: 14599.12 (0.64%).
Metals: Gold: 1290.40 (0.54%), Silver: 19.94 (0.48%), Copper: 3.19 (1.34%)
Energy: Crude Oil: 106.00 (-0.30%), Natural Gas: 3.68 (0.08%)
Commodities: Corn: 5.10 (1.44%), Soya Bean: 12.86 (1.78%), Wheat: 6.69 (-0.01%)
Currency: EUR/USD: 1.3163 (0.77%), GBP/USD: 1.5155 (0.36%), USD/JPY: 99.1100 (-0.75%)
10-year US Treasury: 2.532% (-0.005)

U.S. markets fall: Stocks closed modestly lower, with the S&P 500 (INDEXSP:.INX) snapping a eight-day winning streak, following a mixed batch of corporate earnings. Investors were also cautious ahead of Federal Reserve Chairman Ben Bernanke’s semi-annual congressional testimony on Wednesday. On the economic front, industrial production rose 0.3 percent in June following an unchanged reading in May. Economists were expecting a gain of 0.2 percent. The Dow Jones Industrial Average (INDEXDJX:.DJI) dropped 32.41 points, or 0.2%, to 15,451.85, while the S&P 500 (INDEXSP:.INX) fell 6.24 points, or 0.4%, to 1,676.26. The NASDAQ (INDEXNASDAQ:.IXIC) lost 8.99 points, or 0.3%,to 3,598.50.

Stocks in News:

Yahoo! Inc. (NASDAQ:YHOO)

Yahoo! Inc. (NASDAQ:YHOO) posted second quarter earnings excluding items of 35 cents a share, 5 cents above the average analysts’ estimate. Revenue edged 1 percent lower to $1.07 billion, compared to expectations for $1.08 billion. In addition, the internet company projected third quarter adjusted revenue that come in below Street’s expectations, sending shares lower in post market trading.


Shares fell in trade following reports that the tech company may delay its July 18 shareholder vote on a $24.4 billion buyout offer from founder Michael Dell and private equity firm Silver Lake, by about a week. A Dell spokesman declined to comment on the reports.

PulteGroup, Inc. (NYSE:PHM), Lennar Corporation (NYSE:LEN)

PulteGroup, Inc. (NYSE:PHM), Lennar Corporation (NYSE:LEN), Hovnanian Enterprises, Inc. (NYSE:HOV), Toll Brothers Inc (NYSE:TOLL) and D.R. Horton, Inc. (NYSE:DHI), all gained in trade after homebuilder confidence jumped in July to its highest level since January 2006. The NAHB/Wells Fargo Housing Market index increased to 57 in July from a revised 51 in June. Analysts had projected the index to remain flat at its originally reported June level of 52.

Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX)

Shares of the biopharmaceutical company rallied on Tuesday after attracting acquisition interest from nearly five drug makers, including Amgen, Inc. (NASDAQ:AMGN) and Pfizer Inc. (NYSE:PFE). Onyx put itself up for sale late last month after rejecting an unsolicited buyout offer from Amgen that valued the company at $120 a share, or about $8.7 billion.

Tesla Motors Inc (NASDAQ:TSLA)

The electric carmaker, which joined the Nadsaq 100 index on Monday, suffered its worst one-day drop since January 2012 following a bearish note from a Goldman Sachs analyst. Patrick Archambault said the stock is overvalued and likely worth about $83, well below current levels. Tesla shares have rocketed 250% this year after reporting profits that caught many on Wall Street by surprise.

Bally Technologies Inc. (NYSE:BYI), SHFL entertainment Inc (NASDAQ:SHFL)

Bally Technologies Inc. (NYSE:BYI) has agreed to acquire fellow gambling equipment maker SHFL entertainment Inc (NASDAQ:SHFL) for about $1.3 billion in cash to gain a foothold in the growing casino industry in Asia and Australia. Shareholders of SHFL will receive $23.25 a share, a 24% premium to the stocks closing price on Monday. The deal is expected to close by the second quarter of 2014

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