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Stock Market & Financial Investment News

News Breaks
May 29, 2014
12:43 EDTTSN, P, TLYS, HSH, AAPL, JNPR, PPC, KORS, PANWOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite a significant downward revision to the government's estimate of economic growth in the first three months of the year. The market opened slightly higher and has seen little in the way of volatility, mirroring the pattern seen throughout the week. Volume remains light and the market remains locked in a very narrow range, albeit near all-time highs. ECONOMIC EVENTS: In the U.S., the Commerce Department estimated that gross domestic product decreased at a 1% annual rate in the first quarter of the year, which is down significantly from the government's first estimate of positive 0.1% growth for the period and below the consensus expectation for a revision to a 0.5% decline. Initial jobless claims dipped 27K to 300K in the week ended May 24 from a revised 327K previously. An index of pending home sales edged up 0.4% to 97.8 in April, which was less than the expected 1% rise. COMPANY NEWS: Last night, Apple (AAPL) confirmed that it has agreed to buy Beats Music, which operates a streaming music service, and Beats Electronics, which makes and sells electronic music products such as headphones and speakers, for $3B. Financial Times first reported on May 8, citing people familiar with the negotiations, that Apple was in talks to acquire Beats. In a note to investors after the confirmation, JPMorgan analyst Rod Hall wrote that the deal "is really about what Apple can do with Beats Music" to revitalize its own iTunes music business. Meanwhile, PiperJaffray analyst Gene Munster wrote that Apple acquired Beats for several reasons, including the opportunity to bring Beats co-founders Jimmy Iovine and Dr. Dre to Apple to work on content. Near noon, Apple rose nearly 1% to trade near $630 per share, while Pandora, which also offers a streaming music service, was fractionally lower. MAJOR MOVERS: Among the notable gainers was Hillshire Brands (HSH), which jumped about 17% to trade near $52 per share after the company received an unsolicited takeover offer of $50 per share in cash from Tyson Foods (TSN) that trumped the $45 per share bid announced just two days ago from Pilgrim's Pride (PPC). Also higher was Palo Alto Networks (PANW), which rose 8.5% after the company reported stronger than expected third quarter results and agreed to pay Juniper (JNPR) $175M in cash, stock and warrants as part of a settlement of their patent litigation. Among the noteworthy losers was apparel, footwear and accessory retailer Tilly's (TLYS), which dropped 16% after the company reported a decline in its first quarter same-store sales and gave lower than expected earnings guidance for the new quarter. Also lower in the day after its earnings report was Michael Kors (KORS), which slipped 5% after the shares were downgraded this morning at Avondale to Market Perform from Outperform. INDEXES: Near midday, the Dow was up 15.38, or 0.09%, to 16,648.56, the Nasdaq was up 11.86, or 0.28%, to 4,236.94, and the S&P 500 was up 4.12, or 0.22%, to 1,913.90.
News For AAPL;P;KORS;HSH;TSN;PPC;TLYS;PANW;JNPR From The Last 14 Days
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May 15, 2015
09:37 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL TWTR TSLA NFLX FB
06:13 EDTPPandora to appeal unfavorable court decision against BMI, AP reports
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05:52 EDTKORSStocks with implied volatility above IV index mean; KORS SPLS
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May 14, 2015
19:11 EDTAAPLApple job listing hints at map service overhaul
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18:39 EDTAAPLApple, others raise objections to sale of RadioShack customer data, Law360 says
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17:36 EDTAAPLApple responds to rumored HomeKit delay, says first device next month, WSJ says
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17:17 EDTAAPLApple submits patent application to expand 'home button' features
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16:00 EDTAAPLOptions Update; May 14, 2015
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14:04 EDTAAPLApple delays launch of HomeKit to early fall, Fortune reports
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13:44 EDTKORSMichael Kors weekly volatility elevated into Q4 and outlook
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13:28 EDTKORSIncreasing equity options volume
Increasing equity options volume: FCX UPS KSS CHK CSCO AVP YOKU CALM KORS
10:00 EDTKORSOn The Fly: Analyst Initiation SummaryT
Today's noteworthy initiations include: Advaxis (ADXS) initiated with a Buy at MLV & Co.... Akebia (AKBA) initiated with a Buy at Brean Capital... CarMax (KMX) initiated with a Buy at Sterne Agee CRT... Coach (COH) initiated with a Neutral at Wedbush... Euronav NV (EURN) initiated with an Outperform at Credit Suisse... Franco-Nevada (FNV) initiated with an Outperform at Macquarie... Kate Spade (KATE) initiated with an Outperform at Wedbush... Lumber Liquidators (LL) initiated with a Perform at Oppenheimer... Michael Kors (KORS) initiated with a Neutral at Wedbush... National Instruments (NATI) initiated with an Overweight at Stephens... Royal Gold (RGLD) initiated with an Outperform at Macquarie... Spectra Energy Partners (SEP) initiated with a Buy at Janney ... Spectra Energy (SE) initiated with a Buy at Janney Capital... Tribune Publishing (TPUB) initiated with a Buy at Sterne Agee CRT.
09:34 EDTAAPLActive equity options trading on open
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08:52 EDTPANWPalo Alto Q3 checks positive, says Stephens
Stephens said its checks have come back positive during Palo Alto's Q3 have been positive, leading the firm to expect the company's results to top consensus expectations. Stephens keeps its Overweight rating and $170 price target on Palo Alto shares.
08:21 EDTPANWFinjan says patent suits ongoing with numerous cybersecurity companies
Finjan (FNJN) said it has an active Markman Hearing schedule with two Markman Hearings already concluded in favor of the company and two additional Markman Hearings to be held in Q2. The company has a two-week trial against Blue Coat set to commence on July 20. Finjan has patent infringement lawsuits against FireEye (FEYE), BlueCoat, Proofpoint (PFPT), Sophos, Symantec (SYMC), and Palo Alto Networks (PANW) relating to, collectively, more than 20 patents in the Finjan portfolio. Subsequent to the quarter end, Finjan entered into a negotiated license agreement with F-Secure Corporation, a company incorporated in Finland. The agreement provides for F-Secure to pay Finjan the sum of $1M in cash, to be paid in two installments, consisting of $700,000 which was received on April 22 and $300,000 on or before March 31, 2016. The agreement also provides for the assignment by F-Secure to Finjan of two patents, U.S. Patent Nos. 8,474,048 and 7,749,991.
07:34 EDTAAPLApple search volume continues to surge in China, says UBS
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06:33 EDTKORSMichael Kors initiated with a Neutral at Wedbush
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06:29 EDTAAPLApple Music to have deep social integration for artists, 9to5Mac reports
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06:17 EDTAAPLApple plans expansion of key Irish plant, Irish Independent reports
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06:16 EDTAAPLApple and A123 prepare to settle employee-poaching lawsuit, WSJ reports
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