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Stock Market & Financial Investment News

News Breaks
January 28, 2014
09:22 EDTAAPL, TXI, CRUS, PII, GLW, STX, RCII, CTIC, OSK, DHI, CLF, DD, CMCSA, F, MLMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Ford (F), up 1.7%... Pfizer (PFE), up 1.8%... D.R. Horton (DHI), up 3.6%... DuPont (DD), up 1%... AK Steel (AKS), up 6.3%... Oshkosh (OSK), up 6.7%... ALSO HIGHER: Comcast (CMCSA), up 2.4% after earnings report, boosting share buyback program and dividend... Cliffs Natural (CLF), up 13% after Casablanca Capital urges company to spin off international assets, Cliffs responds that it "welcomes communications" with all shareholders, including Casablanca... Texas Industries (TXI), up 2.6% after agreeing to combine with Martin Marietta Materials (MLM) in $2.7B transaction... Cell Therapeutics (CTIC), up 5.7% after announcing the National Cancer Institute's Gynecologic Oncology Group completed enrollment in a Phase 3 trial of paclitaxel poliglumex... Sanmina (SANM), up 12.8% after earnings report, upgrades at Needham and at Raymond James. DOWN AFTER EARNINGS: Apple (AAPL), down 7.3%... Corning (GLW), down 7.6%... Rent-A-Center (RCII), down 16%... Seagate (STX), down 5.7%... Polaris Industries (PII), down 7%... ALSO LOWER: Cirrus Logic (CRUS), down 5.7% after Apple's disappointing guidance.
News For AAPL;F;CMCSA;DD;CLF;DHI;OSK;CTIC;RCII;STX;GLW;PII;CRUS;TXI;MLM From The Last 14 Days
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July 10, 2014
16:48 EDTRCIIRent-A-Center reports preliminary Q2 adjusted EPS 36c-38c, consensus 48c
Reports preliminary Q2 revenue $773M, consensus $786.4M. Reports preliminary Q2 SSS up approximately 0.6%. Robert D. Davis, the CEO of Rent-A-Center stated, “Macro-economic pressures continue to burden our financially constrained customers contributing to softer than expected demand in our U.S. business segments. Consequently, revenue and earnings for the Q2 will not meet expectations. We are not satisfied with our Q2 results and hold ourselves accountable for improving our performance. To that end, we are excited to announce a new product line in our domestic retail stores with our entrance into the burgeoning smartphone business.” The Company’s smartphone rollout offers consumers nationwide one-stop shopping for a variety of leading, name-brand smartphones and no-contract plans, a rent-to-own industry first. It also provides ground-breaking flexibility: Phones may be rented in connection with the immediate activation of a no-contract airtime plan, or without. A choice in the brand of airtime plans is offered, and customers may even opt to activate a plan for a phone not rented through Rent-A-Center. Additionally, airtime plans may be reloaded at Rent-A-Center stores, regardless of one’s cellular carrier.
16:00 EDTAAPLOptions Update; July 10, 2014
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14:14 EDTAAPLChinese telecom companies to cut marketing spending, WantChinaTimes says
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12:23 EDTCLFCasblanca Capital condemns Cliffs Natural's compensation practices in letter
Casablanca Capital LP, the beneficial owner of approximately 5.2% of Cliffs Natural Resources, issued a letter to shareholders in connection with Casablanca’s campaign for fundamental change at Cliffs and its nomination of six director candidates for election to the Board of Directors at the company’s upcoming 2014 Annual Meeting of Shareholders on July 29. In the letter, Casablanca details escalating management compensation while shareholder returns have plummeted, the opaque nature of the management bonus and review process, and the ways in which bonus compensation metrics have changed from year to year in an apparent effort by the Cliffs Board to justify management bonuses despite severe underperformance. Casablanca reiterates that, in contrast to the current 0.3% of Cliffs shares that the current Board and management team owns, Casablanca has economically aligned itself with the interests of fellow shareholders, with Casablanca owning 5.2% of Cliffs shares and with Lourenco Goncalves’ personal investment of $1.5M in Cliffs’ shares. Donald Drapkin, Chairman of Casablanca said, “The Cliffs Board and management team have been pursuing their own personal agendas and enrichment at the expense of shareholders for far too long. It is time for the gravy train to end and for the Board to be held accountable. We are confident that on July 29 Cliffs’ shareholders will vote to support a slate of new directors who will reverse the outrageous value destruction and stop the pattern of excessive compensation and self-dealing at Cliffs.”
10:27 EDTAAPLInvenSense likely won designs across Apple product lines, says Rosenblatt
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10:05 EDTMLMOn The Fly: Analyst Upgrade Summary
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09:56 EDTFFord, Fiat Chrysler inquire about EU changes, FT says
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09:56 EDTAAPLApple reportedly orders 68M iPhone 6 units, Mac Rumors reports
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09:50 EDTFFord 'committed' to South Africa, minimizes worries over strikes, Reuters says
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09:36 EDTAAPLActive equity options trading on open
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09:13 EDTSTXHP Western Digital Seagate to benefit from PC rebound, says RBC Capital
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08:35 EDTCLFBofA/Merrill steel analysts hold an analyst/industry conference call
Global Steel Analysts review market conditions in Asia, Europe and the U.S. and discuss recent price moves in iron ore, met coal and global steel on an Analyst/Industry conference call. Covered companies AKS, ATI, CLF, CMC, GGB, MTL, NUE, RS, SCHN, SID, STLD, TX and X may be discussed on the Analyst/Industry conference call to be held on July 14 at 10 am.
08:10 EDTAAPLMorgan Stanley's Vintage Values 2015 list selected
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08:03 EDTMLMMartin Marietta upgraded to Conviction Buy from Buy at Goldman
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07:54 EDTAAPLTSMC begins shipping microprocessors to Apple, WSJ reports
TSMC (TSM) has begun shipping microprocessors to Apple (AAPL) for use in smartphones and tablets, reports the Wall Street Journal. According to people familiar with the matter, TSMC began shipping the microprocessors in Q2 and agreed to work together on more advanced chips next year. Reference Link
07:46 EDTPIIMost concerns about Polaris Industries overblown, says BMO Capital
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07:14 EDTCMCSAAereo seeks to survive as cable system, WSJ says
Following its Supreme Court loss, Aereo is now arguing that it should be classified as a cable system and receive a compulsory license that would give it legal access to content and allow it to continue operating, reported The Wall Street Journal. Television broadcasters that own the copyrights in many of the programs that Aereo streams, including CBS (CBS), Disney (DIS), 21st Century Fox (FOXA), and Comcast (CMCSA), successfully sued the service for copyright infringement. In addition to Comcast, publicly-traded cable companies include Time Warner Cable (TWC), Cablevision (CVC), and Charter (CHTR). Reference Link
06:26 EDTAAPLTablet quarterly shipments fall for first time to 56M on year, DigiTimes says
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06:18 EDTAAPLIDC: PC shipments in mature regions stabilizes market in Q2, DigiTimes
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05:57 EDTAAPLApple wins EU trademark for store layouts, AP reports
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