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Stock Market & Financial Investment News

News Breaks
February 15, 2013
06:10 EDTAAMRQ, HLF, EBAY, AMZN, CAH, STZ, BUD, BRK.A, HNZ, LCC, WFCOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: A flurry of acquisitions (AAMRQ, LCC, HNZ, BRK.A, BUD, STZ, CAH) announced yesterday suggests that major deal-making is back after a nearly six-year absence. The $40B-worth of deals struck Thursday brings the total value of M&A transactions announced since January to nearly $160B, the fastest start to a year since 2005, according to Dealogic, the Wall Street Journal reports...Lawmakers reintroduced legislation that could force Internet retailers (AMZN, EBAY) to collect sales taxes, the latest effort by states and the federal government to end what they call a handicap on brick-and-mortar businesses, the Wall Street Journal reports...REUTERS: Hedge fund manager William Ackman, who called Herbalife (HLF) a pyramid scheme, said the biggest risk in shorting the company was whether regulators would take time to focus on the matter. "Could we get the SEC, the FTC and the regulators around the world interested?," he asked, Reuters reports...Two midtown Manhattan skyscrapers owned by international real estate firm Hines are for sale, sources say, as sales of New York office buildings show signs of heating up, Reuters reports...BLOOMBERG: European Central Bank council member Jens Weidmann said an appreciating euro alone won’t trigger a cut in interest rates and the exchange rate’s gains are justified by the economic outlook, Bloomberg reports...Wells Fargo & Co. (WFC), expanding its securities unit to challenge its Wall Street competitors, is broadening U.K. commercial property lending as European banks are forced to retreat, Bloomberg reports.
News For A;BUD;STZ;CAH;AMZN;EBAY;HLF;WFC From The Last 14 Days
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July 11, 2014
07:30 EDTWFCGlobal Interdependence Center to hold a summit
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07:20 EDTWFCBig banks seen losing reserve release cushion, Reuters says
Releasing loan-loss reserves has helped U.S. big banks weather a period of weak loan demand and lower fee income, but Q2 results from the banks may see less benefit from the practice as loss rates and reserves near their lower limits, said Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:23 EDTEBAY, AMZNChannelAdvisor reports Amazon June SSS up 34.4%, eBay up 12.3%
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06:10 EDTAMZNJPMorgan expects solid Q2 results in Internet space
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July 10, 2014
18:18 EDTAMZNAmazon urges FAA to allow increased drone development, Cnet reports
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18:08 EDTAMZNAmazon.com offer to Hachette dismissed by Authors Guild, WSJ says
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16:00 EDTAMZNOptions Update; July 10, 2014
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15:49 EDTWFCWells Fargo July weekly 52 straddle priced for 2% move into Q2
15:13 EDTWFCNotable companies reporting before tomorrow's open
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14:15 EDTHLFHerbalife p.r. flurry 'smells of desperation,' Seeking Alpha contributor says
Herbalife, in an effort to inform investors that 21 independent members are traveling to Washington D.C. in support of the company, released six nearly identical press releases this morning, as noted by Seeking Alpha contributor "Quoth the Raven." Putting the news out in this way, via six press releases instead of "one, concise release is unprofessional and farcical - it smells of desperation for positive press," according to the author, who disclosed a short position in the stock. Reference Link
13:24 EDTWFCEarnings Preview: Analysts divided on Wells Fargo ahead of results
Wells Fargo (WFC) is scheduled to report second quarter earnings before the open on Friday, July 11 with a conference call scheduled for 10:00 am ET. Wells Fargo is a bank holding company. EXPECTATIONS: Analysts are looking for EPS of $1.01 on revenue of $20.82B, according to First Call. The consensus range for EPS is 93c-$1.06 on revenue of $20.34B-$22.74B. LAST QUARTER: Wells reported stronger than expected first quarter results, as its net chargeooffs tumbled $594M year-over-year and its nonperforming assets sank 18% year-over-year. However, the bank’s revenue did decline to $20.6B, from $21.3B during the same period a year earlier. On May 20, Wells said that it was targeting a net payout ratio of 55%-75%. The bank defined net payout as dividend and share repurchases less issuances. The bank added that it would target return on equity of 12%-15%. Wells said it was "well-positioned for rising rates," and indicated that its competition was intensifying. On June 6, The New York Times reported that Wall Street's largest banks this year significantly cut the number of bonds they held, leaving them with a negative position in bonds in March, as they expected bond prices to drop, Since bond prices rose, a number of the large banks have said that their earnings would be hurt by this trade, the newspaper stated. STREET RESEARCH: In a note to investors on July 7, FBR Capital named Wells as one of its favorite names in the banking space. Wells is one of the banks that’s benefiting from above average loan growth while taking market share from its peers, according to the firm. Wells also has above-average growth prospects, high-quality earnings streams, and solid underlying fundamentals, FBR Capital stated. Conversely, Barron’s warned on June 30 that Wells’ stock looked pricey at $52.46. According to Barron’s, Macquarie predicted that the bank’s EPS growth was set to slow, while the stock rose more than it should have in the first half of 2014. Macquarie, which downgraded Wells to Underperform from Neutral on June 30, said that the bank’s core earnings had declined in the past four quarters, added Barron’s. Banks’ results remain challenging, as net interest income, fee revenues and core pre-provision earnings are all essentially unchanged since 2011, Oppenheimer wrote in a note to investors on July 7. Meanwhile, chargeoffs have likely hit bottom, the firm stated. But on a positive note, consumer lending is finally increasing and banks’ current expansion cycle likely has a few years to go, Oppenheimer believes. However, the firm kept a Perform rating on Wells Fargo. PRICE ACTION: Wells Fargo’s stock is up more than 14% this year and is not far from its 52-week high of $53.08.
12:35 EDTAMZNFTC alleges Amazon billed parents for children's unauthorized in-app charges
Amazon has billed parents and other account holders for millions of dollars in unauthorized in-app charges incurred by children, according to a Federal Trade Commission complaint filed today in federal court. The FTC’s lawsuit seeks a court order requiring refunds to consumers for the unauthorized charges and permanently banning the company from billing parents and other account holders for in-app charges without their consent. According to the complaint, Amazon keeps 30% of all in-app charges. In its complaint, the FTC alleges that Amazon violated the FTC Act by billing parents and other Amazon account holders for charges incurred by their children without the permission of the parent or other account holder. Amazon’s setup allowed children playing these kids’ games to spend unlimited amounts of money to pay for virtual items within the apps such as “coins,” “stars,” and “acorns” without parental involvement.
11:44 EDTAMZNAmazon ends all book discounts in France, WSJ reports
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11:10 EDTAMZNAmazon Web Services announces file sharing tool Zocalo
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09:36 EDTAMZNActive equity options trading on open
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07:32 EDTAMZNNews Corp. owned HarperCollins looks to bypass Amazon with new site, FT says
News Corp.'s (NWSA) book publishing unit, HarperCollins, relaunched its U.S. website and is now selling books directly to readers, putting it in competition with one of its largest retailers, Amazon.com (AMZN), reported Financial Times. Reference Link
06:36 EDTAMZNAmazon e-book plan leaves authors in dilemma, Bloomberg says
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06:28 EDTWFCOptions expected to be active
Options expected to be active: LL PBPB VNO FDO WFC COST ZUMZ UAL BA
06:09 EDTAMZNAmazon Web Services partners with Cloudian
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06:00 EDTEBAYeBay repatriated cash likely to be used for M&A, says Piper Jaffray
Piper Jaffray believes a large part of the $9B in cash eBay expects to repatriate to the U.S. will be used for acquisitions in the payments space. The cash, equating to $6B net of taxes, could help eBay take advantage of the shift to mobile payments, the firm says. Piper lists Square, VeriFone (PAY), iZettle and Corduro as companies in the payment space that are within acquisition range for eBay. The firm has an Overweight rating on eBay with a $63 price target.
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