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Stock Market & Financial Investment News

News For AAPL;C;BAC;BIDU From The Last 14 Days
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July 28, 2015
16:00 EDTBIDU, BAC, AAPLOptions Update; July 28, 2015
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13:43 EDTAAPLEarnings Watch: Akamai reports as cloud services, content streaming accelerate
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12:31 EDTBIDUOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session in positive territory but turned mixed a short time after the open. The averages gathered themselves again and began an upward drift about an hour into trading, leaving markets near session highs around noon as stocks try to break their string of five consecutive lower closes. ECONOMIC EVENTS: In the U.S., the Case Shiller 20-city home price index rose 1.1% in May to 179.03, missing a forecast for it to rise 1.7% to 180.2. Markit's services PMI for July rose to 55.2, above the expected 55.0 reading. The Richmond Fed factory index rose to 13.0 in July from an upwardly revised 7 in June. Consumer confidence fell to 90.9 in July, down from a revised 99.8 figure for last month and below the expected reading of 100. In China, the Shanghai composite index closed down 1.7%, but only after a volatile session that saw it down as much as 5.1% and up about 1% at different points in the trading day. In Europe, U.K. GDP growth in the second quarter came in at 0.7%, matching the consensus expectation. COMPANY NEWS: Earnings season continued in earnest with UPS (UPS), Ford (F), Pfizer (PFE) and Merck (MRK) each reporting better than expected quarterly profits. UPS, which said its quarterly results gave it confidence in achieving the upper end of its earnings guidance range for the fiscal year, rose more than 5%. Pfizer and Merck each raised their fiscal year earnings guidance ranges, but Pfizer advanced 1.7% following its report while Merck slid nearly 0.5%. Ford, meanwhile, gained 1.8% after backing its fiscal year pre-tax profit view and repeating that it still expects the second half of the year to be stronger than the first half. MAJOR MOVERS: Among the notable gainers was Supervalu (SVU), which jumped 19% after the company reported better than expected first quarter results and also announced that it is exploring a separation of its Save-A-Lot business into a stand-alone, publicly traded company. Also higher was GrubHub (GRUB), which gained over 5% after reporting better than expect top and bottom line results in its second quarter and issuing 2015 guidance that analysts at Stifel said "appears conservative." Among the noteworthy losers was Immunomedics (IMMU), which tumbled 34% after the company's partner, UCB, announced that two Phase 3 clinical studies for epratuzumab in Systemic Lupus Erythematosus did not meet their primary clinical efficacy endpoints in either dose in both studies. Also lower following its earnings reports was Baidu (BIDU), which fell 16.5% and was downgraded by at least four research firms. INDEXES: Near midday, the Dow was up 136.13, or 0.78%, to 17,576.72, the Nasdaq was up 36.37, or 0.72%, to 5,076.14, and the S&P 500 was up 19.42, or 0.94%, to 2,087.06.
12:04 EDTBIDU, BIDUBaidu downgraded to Underperform from Buy at CLSA
CLSA analyst Elinor Leung downgraded Baidu two notches to Underperform citing near-term margin pressure and lack of catalysts following the company's Q2 results. The analyst lowered Baidu's price target to $225 from $288. Three other firms downgraded Baidu this morning. The stock is trading down $33.18 to $164.50 in midday trading.
10:00 EDTBIDUOn The Fly: Analyst Downgrade Summary
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09:44 EDTBIDUBaidu drops sharply, levels to watch
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09:42 EDTAAPL, BIDUActive equity options trading on open
Active equity options trading on open: AAPL BIDU FB NFLX F T FCX TWTR
09:32 EDTCCaterpillar announces $1.5B accelerated stock repurchase
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09:18 EDTBIDUOn The Fly: Pre-market Movers
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07:13 EDTBIDUBaidu downgraded to Hold from Buy at Deutsche Bank
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06:25 EDTBIDUBaidu downgraded to Sector Weight from Overweight at Pacific Crest
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05:47 EDTBIDUBaidu price target lowered to $210 from $230 at Piper Jaffray
Piper Jaffray analyst Gene Munster lowered his price target for Baidu to $210 after increased investments drove the company's Q3 outlook below estimates. Munster believes Baidu "has proven its investment playbook in the past" and he remains confident in the long-term for shares. He keeps an Overweight rating on the name.
05:30 EDTBIDUBaidu downgraded to Hold from Buy at Brean Capital
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05:24 EDTBIDUBaidu price target lowered to $205 from $256 at Summit Research
Summit Research analyst Henry Guo lowered his price target for Baidu to $205 citing a "deteriorating" risk/reward profile following the company's Q2 results. The company's Q3 revenue guidance implies year-over-year growth of 34%-37%, a decrease from the June quarter's 38%, Guo tells investors in a research note. Baidu also guided for a "significant increase" of expenses to grow the O2O business, which has limited visibility, Guo writes. He keeps a Buy rating on the stock.
July 27, 2015
19:54 EDTAAPLApple Music reaches 10M subscribers in four weeks, HITS says
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19:03 EDTBIDUOn The Fly: After Hours Movers
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17:36 EDTBIDUOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory, with weakness attributed to the Chinese market suffering its worst one day loss in over eight years. The U.S. indexes remained in the negatives throughout the day as traders prepare for one of the heaviest weeks for this earnings season. ECONOMIC EVENTS: In the U.S., durable goods orders advanced 3.4% in June versus expectations for a 3.2% increase. Excluding transportation items, the core reading was up 0.8% against estimates for a 0.5% gain. In China, the Shanghai composite index fell 8.5% and the Shenzhen composite dropped 7%, with the moves generally attributed to concerns over growth and fears that the government may pull its market support. Note that Dow Jones quoted the country's top securities regulator this morning as saying China plans to increase stock purchases by the state. COMPANY NEWS: Shares of Teva (TEVA) jumped $10.15, or 16.41%, to $72.07 after the generic drugmaker dropped its pursuit of Mylan (MYL), opting instead to acquire Allergan's (AGN) global generic pharmaceuticals business for $40.5B. Allergan shares rose 6.09% for the session, and Mylan fell 14.51% to $56.37 while reiterating its commitment to pursue Perrigo (PRGO), whose shares gained 3.81% to $193.60. MAJOR MOVERS: Among the notable gainers was Wabtec (WAB), which rose $6.59, or 7.21%, to $97.93 after agreeing to buy Faiveley Transport for roughly $1.8B, noting that it expects EPS accretion in 2016. In other M&A news, Magnetek (MAG) finished the session up $17.27, or 53.55%, to $49.52 after Columbus McKinnon (CMCO) agreed to acquire the company for $50 per share, while Beacon Roofing Supply (BECN) jumped $2.62, or 8.71%%, to $32.70 after agreeing to buy Roofing Supply Group at a transaction value of about $1.1B. Also higher were shares of Xueda Education (XUE), which surged 50.63% after Xiamen Insight Investment announced a deal to purchase the company for $5.50 per American Depository Share. Xueda's positive move came in stark contrast to numerous Chinese stocks traded in New York, with Baidu (BIDU) slipping 4.16% and Alibaba (BABA) losing 2.01% after China's Shanghai composite index plunged overnight. Also lower was McGraw Hill Financial (MHFI), declining $6.01, or 5.69%, to $99.59 after agreeing to acquire SNL Financial for roughly $2.225B in cash. Additionally, GrubHub (GRUB) lost 8.37% to $30.99 following a downgrade from Cowen citing competitive concerns and market saturation. INDEXES: The Dow fell 127.94, or 0.73%, to 17,440.59, the Nasdaq lost 48.85, or 0.96%, to 5,039.78, and the S&P 500 declined 12.01, or 0.58%, to 2,067.64.
16:40 EDTBIDUBaidu down 5.9% after reporting Q2 results, Q3 guidance
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16:39 EDTBIDUBaidu reports Q2 EPS ex-items $1.81, consensus $1.88
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16:38 EDTBIDUBaidu reports June MAUs up 24% to 629M
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