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April 22, 2012
18:21 EDTNFLX, GE, GLW, AAPL, GRPN, LNKD, AMZN, MSFT, FB, CRM, F, BACAmerica's portfolio managers see more gains for stocks, Barron's reports
Barron's conducted his Spring 2012 Big Money poll. America's money managers were cautiously optimistic about the stock market's prospects in the year ahead. The breakdown of the professional money managers investment outlook through June 2013 was: 4% very bullish, 51% bullish, 31% neutral, 12% bearish and 2% very bearish. That is up modestly from last fall's survey, when 52% of managers were bullish, and down modestly from the spring 2011 poll, when 59% of Big Money pros were bulls. The group expects the DJIA to rise by 6% through year end, to 13,756, and add another 3% thereafter, to arrive at 14,183 by June 2013. In round numbers that's a gain of 10% from Friday's close of 13,029.26. Forty-six percent of Big Money managers say the market is undervalued today, compared with 61% last fall. Another 41% think stocks are fairly valued, vs. 26% who felt that way in October. Among industry sectors, institutional investors are most bullish on the prospects for financials and technology shares, and most bearish on utilities and basic-materials stocks. Banks also will benefit as the economy strengthens and credit quality improves. But a better economy could be a bane for utility shares. Predictions for S&P 500 profit growth for 2012: 9.4%; for 2013: 7.6%. Predictions for oil in 2012: $103.79; for 2013: $103.86. Predictions for gold in 2012 $1,637; for 2013: $1,646. Favorite stocks of those polled for the next six to 12 months: Apple (AAPL), Bank of America (BAC), Microsoft (MSFT), Corning Glass (GLW), Ford (F), General Electric (GE), (CRM). Stocks considered overvalued by respondants: Apple, (AMZN),, LinkedIn, Netflix (NFLX), Facebook (FB)- based on the expected IPO, Bank of America, Groupon (GRPN). Reference Link
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September 22, 2015
11:06 EDTGRPNGroupon slumps after announcing plans to cut jobs, exit markets
Shares of Groupon (GRPN) are slumping in morning trading after the company said it plans to cut more than 1,000 jobs relating primarily to the company's international operations. WHAT'S NEW: Groupon said this morning in a regulatory filing that its board approved a restructuring program under which it will cut 1,100 jobs and take a pre-tax charge of $35M. Of the pre-tax charges, Groupon said it will record $22M-$24M in the third quarter of 2015. The restructuring actions are expected to be complete by September 2016, the company said, adding that "substantially all of the pre-tax charges are expected to be paid in cash and will relate to employee severance and compensation benefits." Cost savings from the cuts will be reinvested in the business, Groupon said. WHAT'S NOTABLE: As part of the restructuring, Groupon will cease operations in several international markets: Morocco, Taiwan, Thailand, Panama, The Philippines, Puerto Rico and Uruguay. The closures come on top of recent exits in Turkey and Greece, as well as a sale of part of its stake in Groupon India to Sequoia. Rich Williams, the company's chief operating officer and president of North America, commented in a blog post that the 1,100 jobs that will be eliminated "over the next several months" will mostly come from the Deal Factory and Customer Service units. "We believe that in order for our geographic footprint to be an even bigger advantage, we need to focus our energy and dollars on fewer countries," Williams explained, adding that "just as our business has evolved from a largely hand-managed daily deal site to a true ecommerce technology platform, our operational model has to evolve." Williams also said that "in order for our geographic footprint to be an even bigger advantage, we need to focus our energy and dollars on fewer countries," and the countries it is exiting are "where the required investment and market potential don't align." PRICE ACTION: Groupon is down 1.7% to $4.10 in morning trading. Shares are down over 50% year-to-date.
10:45 EDTNFLXStocks with call strike movement; TWTR NFLX
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10:36 EDTBACBank of America shareholders approve resolution on board leadership structure
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10:32 EDTGEGeneral Electric names Linda Boff as Chief Marketing Officer
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10:23 EDTAMZNOptions with increasing implied volatility
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10:15 EDTBACBank of America shareholders vote to retain Brian Moynihan as both Chairman, CEO
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10:07 EDTAMZN, NFLXMedia companies adjust Netflix strategy ahead of OTT growth, Bloomberg says
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09:33 EDTNFLX, MSFT, AAPLActive equity options trading on open
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09:20 EDTGRPNOn The Fly: Pre-market Movers
HIGHER: Ashland (ASH), up 4% after announcing that its board has approved proceeding with a plan to separate Ashland into two independent, publicly traded companies: the new Ashland, a provider of specialty chemical solutions, and Valvoline, which will focus on building the world's leading engine and automotive maintenance business... Solera Holdings (SLH), up 3% after Bloomberg reported that IHS (IHS) is considering besting Vista Equity Partners' $55.85 per share offer for Solera. Shares of IHS are up xxx% following the report... Weatherford (WFT), up 11% after stating that it has decided not to pursue its previously announced concurrent public offerings of ordinary shares of the company and mandatorily exchangeable subordinated notes. DOWN AFTER EARNINGS: Carnival (CCL), down 3.7%. ALSO LOWER: Groupon (GRPN), down 0.7% after announcing plans to cut 1,100 jobs relating primarily to the company's international operations... New Mountain Finance (NMFC), down 4% after its 5M share spot secondary priced at $14.14 per share... Memorial Resource Development (MRD), down 4% after announcing it acquired additional acreage in North Louisiana and pricing its 12M share spot secondary at $17.60 per share.
09:02 EDTGRPNGroupon volatility flat into announcing restructuring, plans to cut 1,100 jobs
Groupon September weekly call option implied volatility is at 51, October is at 48; compared to its 52-week range of 33 to 83, suggesting non-directional price movement into announcing a restructuring, plans to cut 1,100 jobs, sees pretax charges up to $35M.
08:54 EDTGRPNGroupon to cut 1,100 jobs, sees pretax charges up to $35M
In a regulatory filing, Groupon disclosed that its board of directors approved restructuring actions relating primarily to the company's international operations. These actions are expected to involve an overall reduction of approximately 1,100 positions globally and be substantially complete by September 2016. In connection with these actions, the company expects to record total pre-tax charges of up to $35M, including approximately $22M-$24M in the third quarter of 2015. Substantially all of the pre-tax charges are expected to be paid in cash and will relate to employee severance and compensation benefits, with an immaterial amount of the charges relating to asset impairments and other exit costs. The company intends to exclude the restructuring charges from its non-GAAP financial metrics, including Adjusted EBITDA and non-GAAP EPS. In addition, the company expects that any cost savings from the restructuring actions will be immaterial in 2015. Cost savings in subsequent years are expected to be primarily reinvested in the business.
08:03 EDTGEAres-EIF acquires 50% stake in Linden Cogen facility from GE unit
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08:01 EDTGEGE unit signs multiyear services agreement with Southern California Edison
GE's Power Generation Services business announced it has signed a multiyear services agreement with Southern California Edison to upgrade the utility's Mountainview Generating Facility, a 1,054-megawatt combined-cycle power plant in Redlands, California. Highlighting a growing trend with North American combined-cycle power stations, the upgrade project will reduce the facility's startup times, lower its emissions without using additional water and help to balance the growing role of renewables on the grid. GE's technologies will boost the station's output by about 48 MW, increase its efficiency and offer longer intervals between maintenance outages. By boosting Mountainview's flexibility, the project will help SCE protect the grid from the intermittency of the state's rapidly expanding renewable energy supplies while strengthening the facility's competitive position in California.
07:46 EDTAAPLFormer GM exec: Apple will lose money in car business, CNBC says
Apple (AAPL) could lose big money if it enters the electric car business, CNBC reports, citing comments from former General Motors (GM) vice chairman Bob Lutz. "There is absolutely no reason to assume that Apple is going to be financially successful in the electric car business," Lutz told CNBC. Reference Link
07:40 EDTAAPLApple may be overextending brand with car project, says UBS
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07:34 EDTBACDenver Gold Group to hold a forum
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07:29 EDTAAPLApple coverage assumed with a Buy at Goldman
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07:15 EDTMSFTCloudFlare raises $110M from consortium of Google, Microsoft, others
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06:33 EDTFBFacebook user data rules have ripple effects, WSJ reports
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05:14 EDTMSFTIngram Micro to participate in Microsoft Cloud Solution program in India
Ingram Micro (IM) announced its participation in the Microsoft (MSFT) Cloud Solution Provider program in India. The program is designed to strengthen customer relationships and expand cloud sales by allowing channel partners to provision, bundle, invoice, manage and support Microsoft cloud offerings including Microsoft Office 365, Windows Intune, Enterprise Mobility Suite, Azure, and CRM online subscriptions with greater ease and efficiency.
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