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January 14, 2013
15:29 EDTTIF, WFC, AA, HBANStocks with decreasing option implied volatility; AA TIF HBAN WFC
News For AA;TIF;HBAN;WFC From The Last 14 Days
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November 23, 2015
15:28 EDTTIFNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Analog Devices (ADI), consensus 83c... Hormel Foods (HRL), consensus 69c... Dollar Tree (DLTR), consensus 53c... Campbell Soup (CPB), consensus 76c... Signet Jewelers (SIG), consensus 39c... Tiffany (TIF), consensus 75c... Valspar (VAL), consensus $1.31... Patterson Companies (PDCO), consensus 60c... Eaton Vance (EV), consensus 59c...Burlington Stores (BURL), consensus 23c... Cracker Barrel (CBRL), consensus $1.59.
14:50 EDTTIFTiffany technical comments before earnings
Expectations for earnings are relatively low, with price not far from the 52-week low at $73.09. If the news is a bearish disappointment, the current downtrend is likely to continue. A test of the 52-week low in that event would seem highly probable. Next support below would be at $70.77 and then at $65.92. If the news is a bullish surprise, there could be a stronger than normal response given where expectations are set. Next resistance above the current price of $75.90 would be at $80.07. On a breakout above the $80 area, resistance levels to watch as potential upside objectives would be at $81.91 and then at $86.48.
12:40 EDTTIFTiffany volatility elevated into Q3 and outlook
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12:08 EDTAAOn The Fly: Top stock stories at midday
Stocks on Wall Street were slightly higher at midday but have moved in a very narrow trading range throughout the morning. The market, coming off one of its best weeks of the year, appears to be consolidating its gains amid the increased caution that prevails worldwide, highlighted by the ongoing lockdown of Brussels due to its assessment of a "serious and imminent" terrorist threat. There was little help from the day's economic data, as reports on manufacturing and existing home sales both came in below expectations. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing PMI for November fell 1.5 points to 52.6, missing expectations for a 54.0 reading. Existing home sales dropped 3.4% to a 5.36M rate in October, lower than the forecast for a 5.4M rate. The Chicago Fed National Activity Index showed a reading of -0.04, versus the expected +0.05 reading. In Europe, Markit's composite services and manufacturing PMI rose to 54.4 in October from a prior reading of 53.9. That reading marks the euro-area's highest level since May 2011. COMPANY NEWS: As telegraphed in recent media reports, Pfizer (PFE) and Allergan (AGN) announced plans to combine, creating the world's largest drugmaker. The companies have entered into a definitive merger agreement under which they will combine in a stock transaction valued at $363.63 per Allergan share, for a total enterprise value of approximately $160B, based on the closing price of Pfizer common stock on November 20. Amid concerns that regulators may try to block the huge deal, or make rule changes that will make it less lucrative, Pfizer shares declined more than 2.5% while Allergan saw a similar percentage slide... Alcoa (AA) jumped more than 5% higher after activist investor Elliott Management revealed a 6.4% stake, saying it seeks to engage in a "constructive dialogue" regarding the company's recently spin-off transaction as well as a number of added opportunities it sees to maximize shareholder value. In other activist investor news, Carl Icahn said in an open letter that his talks with AIG (AIG) CEO Peter Hancock make it "abundantly clear" that he is not willing to take the bold steps that Icahn has pushed for, including the suggestion that the insurer separate into three public companies to shrink below the threshold for systemically important financial institutions. Icahn added that he intends to commence shortly a consent solicitation that will enable shareholders to express their views directly to the board, which may include a proposal to add a new director who would agree in advance to succeed Hancock as CEO if asked by the board to do so. MAJOR MOVERS: Among the noteworthy gainers was Tyson Foods (TSN), which rallied 9% after reporting quarterly results and guiding for fiscal 2016. Also higher was Chipotle (CMG), which rebounded 5% after several analysts opined on the company's outlook after shares pulled back Friday as the company confirmed that six new cases of E. coli linked to its restaurants had been identified in four additional states. In addition, SunEdison was up 9% after the company announced that CFO Brian Wuebbels will take over as the president and CEO at its two "YieldCos." Among the notable losers was GameStop (GME), which fell 7.5% after reporting weaker than expected Q3 results. Electronic Arts (EA) and Activision Blizzard (ATVI), whose games are sold at GameStop, slipped nearly 6% and 0.5%, respectively, after the retailer's report. Also lower was Diebold (DBD), which dropped 8% after it announced that it will acquire Wincor Nixdorf in a cash and stock deal valued at $1.8B. INDEXES: Near midday, the Dow was up 7.52, or 0.04%, to 17,831.33, the Nasdaq was up 14.78, or 0.29%, to 5,119.70, and the S&P 500 was up 4.64, or 0.22%, to 2,093.81.
10:18 EDTAAElliot Management seeks to engage in 'constructive dialogue' with Alcoa board
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10:09 EDTAAElliott Management confirms 6.4% stake in Alcoa, seeks 'constructive' talks
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09:44 EDTAAAlcoa confirms stake purchased by Elliott Management, Bloomberg says
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09:29 EDTAAAlcoa rallies after Elliott takes 6.5% stake
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09:22 EDTAAElliott takes activist stake in Alcoa, CNBC reports
Elliott Management has taken a 6.5% activist stake in Alcoa, CNBC's David Faber reports, citing sources. Elliott supports a split of the company and wants improved margins, Faber added. The activist fund has had conversations with Alcoa management, which Faber deemed constructive. Shares of Alcoa jumped 5% to $9.12 following the report. A regulatory filing detailing the stake is forthcoming, according to Faber.
09:18 EDTAAElliott takes 6.5% stake in Alcoa, CNBC's Faber reports
November 19, 2015
09:21 EDTWFCConsolidated Tomoka buys office complex in Raleigh for $42.3M
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November 18, 2015
10:02 EDTTIFHigh option volume stocks: CIT TDC MAR JNK EIX TIF NBG DSX FCS ARG
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08:55 EDTWFCMorgan Stanley exec sees Q4 not much better than Q3 for banks, DJ reports
Morgan Stanley (MS) Institutional Securities President Colm Kelleher cautioned that fixed-income markets "still seem subdued," according to Dow Jones, citing his comments at an investment conference. Morgan Stanley was among the banks that reported lower revenue from fixed-income, currency and commodities trading during the third quarter and Kelleher said he doesn't think "the fourth quarter is going to be much better," the report noted. Large bank peers to Morgan Stanley include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:59 EDTTIFTiffany price target lowered to $90 from $97 at Cowen
Cowen lowered its price target on Tiffany to $90 from $97 citing near term caution on global macro conditions. The firm remains positive longer term citing product innovation, geographic expansion of it store base and improving CRM capabilities. Cowen reiterated its Outperform rating on Tiffany shares.
November 17, 2015
17:02 EDTWFCWells Fargo names Timothy Sloan as COO
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10:20 EDTTIFOptions with increasing implied volatility
Options with increasing implied volatility: SGMS HZNP CSC ULTA RH BURL GME AEO BBRY TIF
07:50 EDTWFCClearing House to hold a conference
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07:48 EDTWFCBofa/Merrill to hold a conference
Banking & Financial Services Conference 2015 is being held in New York on November 17-18.
November 16, 2015
11:24 EDTWFCClearing House to hold a conference
Clearing House Annual Conference is being held in New York on November 16-18.
November 12, 2015
06:12 EDTWFCMorgan Stanley to offer wealth management clients savings accounts, Reuters says
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