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Stock Market & Financial Investment News

News Breaks
February 12, 2013
06:05 EDTC, GSK, AAPL, CVS, MS, SNY, WMT, CS, BAOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Fed Vice-Chairwoman Janet Yellen offered a vigorous defense of the central bank's easy-money policies, suggesting she favors continuing them amid a slow economic recovery and disappointing job market, the Wall Street Journal reports...Behind David Einhorn's protestations on Apple (AAPL) is a novel way to return cash to shareholders. Einhorn, of hedge fund Greenlight Capital, proposed that Apple issue a special class of stock, which he called "perpetual preferred," that would carry a high dividend yield. But with some investors feeling more confident about the future, shareholder pressure is growing to put that cash to work, the Wall Street Journal reports...REUTERS: The NTSB is investigating whether tiny fiber-like formations, known as dendrites, inside lithium-ion batteries could have played a role in battery failures on two Boeing (BA) 787 Dreamliners last month, Reuters reports...The shifting nature of Africa's disease burden is luring Big Pharma (SNY, GSK) as new opportunities open up for treating chronic diseases afflicting the middle classes, rather than just fire-fighting infection. European companies, in particular, hope to reap rewards by investing early in a region where many of them already have historic commercial ties, Reuters reports...BLOOMBERG: Global investment banks based in Europe and the U.S., facing regulatory and cost-cutting pressures at home, are losing market share (CS, MS, C) in emerging economies to smaller domestic competitors, Bloomberg reports...In 2007, Wal-Mart Stores (WMT) planned to open as many as 2,000 in-house medical clinics by mid-2012. Today they have fewer than 130 clinics and is closing locations faster than itís opening them. CVS Caremark (CVS) has about 630 MinuteClinics and aims to have 1,500 within four years, Bloomberg reports.
News For AAPL;BA;SNY;GSK;CS;MS;C;WMT;CVS From The Last 14 Days
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January 14, 2015
15:27 EDTCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Citigroup (C), consensus 11c; Bank of America (BAC), consensus 32c; Charles Schwab (SCHW), consensus 24c; Fastenal (FAST), consensus 39c.
15:08 EDTCEarnings Preview: Citi sees being 'marginally profitable' after legal issues
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14:59 EDTCCiti January 48.5 straddle priced for 3.3% movement into Q4
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12:49 EDTCOn The Fly: Midday Wrap
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11:23 EDTAAPLIntel lower after report says Apple may displace chips in Macs
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11:14 EDTAAPLGoPro rebounds after analysts downplay Apple patent worries
Shares of action camera maker GoPro (GPRO) are recovering some of the ground they lost yesterday, after two research firms wrote that the stock's decline yesterday on worries about an Apple (AAPL) patent were overdone. WHAT'S NEW: Noting that a report circulated yesterday that Apple received a patent for a wearable camera, Barclays wrote that the 11% decline in GoPro's stock yesterday was an overreaction. Although Apple's patent envisions a product similar to GoPro's camera, and Apple's entrance into the market would be "a headline grabber," there's a big difference between being awarded a patent and entering a market, the firm believes. Apple is often awarded patents for products that it never launches, Barclays explained. Moreover, GoPro has a number of attributes that could enable it to maintain its leadership in the market despite new competitors, Barclays believes. Among these attributes are the company's user base, software functionality, and ability to keep a technological edge, Barclays stated. The firm kept a $60 price target and Neutral rating on the shares. Even more upbeat was JMP Securities analyst Alex Gauna. After reviewing Apple's patent, the analyst thinks the document "hints" that the camera is primarily meant to be installed on smart watches and smartphones. Apple is unlikely to enter the action camera market, the analyst believes. Moreover, many companies are trying to imitate GoPro's cameras, but none have been able to match GoPro's quality in brand energy, performance, range of uses, and/or software and social networking value, Gauna stated. He recommended that investors buy GoPro on weakness and reiterated a $105 price target and Outperform rating on the shares. PRICE ACTION: In late morning trading, GoPro rose $2.72, or 5.5%, to $52.59. GoPro shares had declined a bit over 12% yesterday after the Patently Apple blog reported on the Apple's patent.
11:01 EDTAAPLAnalyst says Apple may replace Intel chips in Macs, AppleInsider reports
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10:00 EDTCSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ACE Limited (ACE) downgraded to Neutral from Outperform at Macquarie... AXIS Capital (AXS) downgraded to Neutral from Outperform at Macquarie... Allstate (ALL) downgraded to Underperform from Neutral at Macquarie... Altera (ALTR) downgraded to Neutral from Overweight at JPMorgan... American Midstream Partners (AMID) downgraded to Neutral from Buy at BofA/Merrill... Argo Group (AGII) downgraded to Underperform from Neutral at Macquarie... Aspen Insurance (AHL) downgraded to Underperform from Neutral at Macquarie... Beneficial Bancorp (BNCL) downgraded to Neutral at Boenning & Scattergood... CDW Corporation (CDW) downgraded to Neutral from Buy at Goldman... CHC Group (HELI) downgraded at Raymond James... CIRCOR (CIR) downgraded to Hold from Buy at Stifel... Chesapeake (CHK) downgraded to Underweight from Equal Weight at Barclays... Commerzbank (CRZBY) downgraded to Sell from Neutral at Goldman... Continental Resources (CLR) downgraded to Equal Weight from Overweight at Barclays... Corporate Office Properties (OFC) downgraded to Market Perform at Wells Fargo... Credit Suisse (CS) downgraded to Neutral from Overweight at HSBC... Datawatch (DWCH) downgraded to Hold at Canaccord... Devon Energy (DVN) downgraded to Equal Weight from Overweight at Barclays... Dollar Tree (DLTR) downgraded to Neutral from Buy at Northcoast... Douglas Emmett (DEI) downgraded to Neutral from Buy at Mizuho... Dresser-Rand (DRC) downgraded to Underperform from Market Perform at Raymond James... Enable Midstream (ENBL) downgraded to Underperform from Neutral at BofA/Merrill... F5 Networks (FFIV) downgraded to Equal Weight from Overweight at Barclays... First Majestic (AG) downgraded to Sector Perform from Outperform at Scotia Capital... Foot Locker (FL) downgraded to Sell from Neutral at Goldman... Franklin Resources (BEN) downgraded to Neutral from Buy at Goldman... HCP (HCP) downgraded to Market Perform from Outperform at Wells Fargo... Halcon Resources (HK) downgraded to Underweight from Equal Weight at Barclays... Insulet (PODD) downgraded at Sterne Agee... J.B. Hunt (JBHT) downgraded to Market Perform from Outperform at Avondale... JPMorgan (JPM) downgraded to Underweight from Neutral at HSBC... KB Home (KBH) downgraded to Neutral from Outperform at Credit Suisse... Kosmos (KOS) downgraded to Equal Weight from Overweight at Barclays... Marathon Oil (MRO) downgraded to Equal Weight from Overweight at Barclays... Medley Management (MDLY) downgraded to Market Perform at Keefe Bruyette... MoneyGram (MGI) downgraded to Underperform from Neutral at BofA/Merrill... NPS Pharmaceuticals (NPSP) downgraded to Neutral from Overweight at JPMorgan... National Grid (NGG) downgraded to Underperform from Neutral at Credit Suisse... Navigators (NAVG) downgraded to Underperform from Neutral at Macquarie... Pioneer Energy (PES) downgraded at Raymond James... RSP Permian (RSPP) downgraded to Equal Weight from Overweight at Barclays... Rambus (RMBS) downgraded to Neutral from Overweight at JPMorgan... Realty Income (O) downgraded to Market Perform from Outperform at Wells Fargo... Red Hat (RHT) downgraded to Sell from Neutral at Goldman... Resolute Energy (REN) downgraded to Underweight from Equal Weight at Barclays... Ross Stores (ROST) downgraded to Neutral at UBS... SandRidge Energy (SD) downgraded to Underweight from Equal Weight at Barclays... Tech Data (TECD) downgraded to Sell from Neutral at Goldman... Teekay Offshore Partners (TOO) downgraded to Neutral from Buy at BofA/Merrill... Travelers (TRV) downgraded to Underperform from Neutral at Macquarie... TrueCar (TRUE) downgraded to Market Perform at Cowen... Valspar (VAL) downgraded to Neutral from Outperform at RW Baird... Verizon (VZ) downgraded at Evercore ISI... Viacom (VIAB) downgraded to Sell from Buy at Citigroup... W. R. Berkley (WRB) downgraded to Underperform from Neutral at Macquarie... Waddell & Reed (WDR) downgraded to Neutral from Buy at Goldman... Western Union (WU) downgraded to Underperform from Neutral at BofA/Merrill... Whiting Petroleum (WLL) downgraded to Equal Weight from Overweight at Barclays... Whole Foods (WFM) downgraded to Hold from Buy at Argus... Xilinx (XLNX) downgraded to Neutral from Overweight at JPMorgan... iRobot (IRBT) downgraded to Underweight from Neutral at JPMorgan.
09:36 EDTC, AAPLActive equity options trading
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09:16 EDTC, AAPLOn The Fly: Pre-market Movers
HIGHER: ZIOPHARM (ZIOP), up 53% after the company and Intrexon (XON) announced a licensing agreement with University of Texas. Intrexon shares are also up 12%... GameStop (GME), up 10.6% after reporting holiday SSS, providing guidance for the fourth quarter and fiscal 2014, and being upgraded at Pacific Crest... Smith Micro (SMSI), up 12.7% after reporting preliminary fourth quarter revenue and providing revenue guidance for the first quarter and fiscal 2015... BioCryst (BCRX), up 3.2% after receiving a positive opinion on EMA orphan drug designation for BCX4161... GoPro (GPRO), up 1% following analyst remarks that sell-off after yesterday's report on Apple (AAPL) patent was "overdone." DOWN AFTER EARNINGS: JPMorgan (JPM), down 2.7%... Wells Fargo (WFC), down 2.2%... Banking peers down as well, with Bank of America (BAC) down 2.8% and Citi (C) down 2%. ALSO LOWER: Tesla (TSLA), down 9% following comments made by CEO Elon Musk at an automotive conference in Detroit regarding a slowdown in China... New Media (NEWM), down 4.8% after 7M share spot secondary priced at $21.70... General Motors (GM), down 3% after giving 2015 guidance, saying it is on track to meet previously announced 2016 financial targets... Apple (AAPL), down 1% following lawsuit against Ericsson (ERIC) and countersuit filing.
08:27 EDTAAPLGoPro sell-off overdone, says JMP Securities
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08:25 EDTCTwo Dubai lenders among bidders for Citi consumer unit in Egypt, Bloomberg says
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06:49 EDTCSCredit Suisse downgraded to Neutral from Overweight at HSBC
HSBC downgraded Credit Suisse to Neutral citing the bank's "relatively weak" equity leverage ratio and risk from additional U.S. mortgage litigation.
06:44 EDTCSTop court official backs ECB bond buying, NY Times reports
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06:43 EDTAAPLCirrus Logic upgraded to Sector Perform from Underperform at Pacific Crest
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06:29 EDTAAPLCompanies reach new deal on worker hiring issue, Reuters says
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06:14 EDTAAPLMediaTek: Worldwide tablet shipments rise at slower pace, DigiTimes says
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06:04 EDTCCiti appoints CD Davies head of global Mortgage business
Citi yesterday announced that CD Davies has been appointed Head of Citiís Mortgage business globally. Davies joined Citi in March 2014. He will continue to report to Jane Fraser, CEO of CitiMortgage and U.S. Consumer and Commercial Banking. Davies was previously President and CEO of Wachovia Mortgage Corporation.
05:49 EDTAAPLApple sues Ericsson over patent royalty rates, Bloomberg says
Apple (AAPL) filed a lawsuit against Ericsson (ERIC) in the U.S. District Court for the Northern District of California, stating that Ericsson's royalty rates are excessive and its patents are not essential to LTE standards, reports Bloomberg. Reference Link
05:28 EDTAAPLEricsson files complaint against Apple in U.S. District Court
Following Apple's (AAPL) action, Ericsson (ERIC) has filed a complaint in the U.S. District Court for the Eastern District of Texas requesting a ruling on Ericsson's proposed global licensing fees with Apple. During the past two years of negotiations, the companies have not been able to reach an agreement on licensing of Ericsson's patents that enable Apple's mobile devices to connect with the world and power many of their applications. Ericsson filed the suit in order to receive an independent assessment on whether Ericsson's global licensing offer complies with Ericsson's fair, reasonable, and non-discriminatory, or FRAND, commitment. The global license agreement between Ericsson and Apple for mobile technology has expired and Apple has declined to take a new license on offered FRAND terms. Ericsson's Q4 IPR revenue will include payment from Apple under previous agreement. Every Apple smartphone and tablet with cellular capability uses technology from Ericsson. On January 12, Apple filed a lawsuit asking the U.S. District Court for the Northern District of California to find that it does not infringe a small subset of Ericsson's patents.
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