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Stock Market & Financial Investment News

News Breaks
January 28, 2014
12:36 EDTAAL, GLW, PFE, RCII, DD, F, AAPL, CBM, STX, CMCSAOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday with the Nasdaq unable to overcome the weight of Apple (AAPL), which was sharply lower following its earnings report last night. The higher than expected consumer confidence reading offset a disappointing report on durable goods orders and appeared to help the S&P and Dow hold onto their gains near the lunch hour. ECONOMIC EVENTS: In the U.S., durable goods orders dropped 4.3% in December from a revised November figure, missing expectations for an increase of 1.5%. The S&P/Case-Shiller 20-city composite home-price index showed prices rose 13.7% from the prior year in November, which was roughly in-line with economists' forecast. Home prices in the twenty cities dipped by a seasonally adjusted 0.88% in November from October. The Conference Board's consumer confidence index climbed to a five month high reading of 80.7 in January, beating expectations for it to remain nearly unchanged near 78. The Richmond Fed manufacturing survey for January slide to 12 from a prior month reading of 13. COMPANY NEWS: Shares of Apple (AAPL) declined more than 7% after the tech giant reported earnings and revenue that beat expectations, but gave a second quarter revenue outlook that came in below expectations. The company said its Holiday quarter iPhone sales grew to 51M units, but even that large number missed the lofty forecasts of many of Wall Street analysts. The company reported Holiday quarter sales of 26M iPads and 4.8M Macs, both of which were increases from the prior year. Apple shares were downgraded to Outperform from Strong Buy at Raymond James following the report and Oppenheimer also cut its rating on Apple this morning, but at least five other research firms said that weakness in the stock presents a buying opportunity. Also, noted investor and vocal Apple shareholder Carl Icahn took to Twitter to announce he had purchased an additional $500M worth of Apple shares this morning... Pfizer (PFE) led the advancers on the Dow Jones Industrial Index with gains of over 2% after the pharmaceutical maker's profits, adjusted for certain non-recurring issues, beat analysts' consensus forecast. Among other large companies reporting results this morning, Comcast (CMCSA) and Ford (F) advanced, while Corning (GLW) and Du Pont (DD) declined. MAJOR MOVERS: Among the notable gainers was American Airlines (AAL), which rose nearly 5% after the company recently formed from the combination of the former US Airways and AMR Corporation reported earnings and revenue that beat forecasts. Also higher was Cambrex (CBM), which gained more than 16% after its stock was upgraded to Overweight from Equal Weight at First Analysis. Among the noteworthy losers was Rent-to-own retailer Rent-A-Center (RCII), which plunged nearly 20% after the company's fourth quarter results and fiscal 2014 profit guidance fell significantly below expectations. Also lower were shares of Seagate (STX), which slid over 11% after the company reported weaker than expected results, though analysts at Pacific Crest said the stock was still attractive after the miss and Needham recommended using the post-earnings pullback as a buying opportunity. INDEXES: Near midday, the Dow was up 75.98, or 0.48%, to 15,913.86, the Nasdaq was down 1.30, or 0.03%, to 4,082.31, and the S&P 500 was up 8.71, or 0.49%, to 1,790.27.
News For AAPL;PFE;CMCSA;F;GLW;STX;DD;AAL;CBM;RCII From The Last 14 Days
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February 17, 2015
13:18 EDTAAPLOmega Advisors gives quarterly update on stakes
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12:56 EDTCMCSADecline of TV viewing accelerated, NY Post reports
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12:50 EDTAAPLOn The Fly: Midday Wrap
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11:00 EDTFFord hires John Casesa to lead global strategy
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10:31 EDTAAPLApple rises as analysts applaud reported auto ambitions
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10:09 EDTDDDuPont tells shareholders 'we are on the right path'
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10:01 EDTPFECVS says PCSK9 inhibitors could cost system $150B annually
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09:40 EDTAAPLActive equity options trading on open
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07:32 EDTAAPLApple asking suppliers to make 5M-6M Apple Watches in Q1, WSJ says
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07:28 EDTAAPLApple design chief working on store redesign ahead of Watch, New Yorker says
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07:22 EDTAAPLMitsubishi UFJ to hold a tour
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07:20 EDTDDDuPont management to meet with UBS
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07:15 EDTAAPLApple foray into autos would be logical, says Barclays
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07:15 EDTCMCSA'Fifty Shades' opens to $94.4M, WSJ says
Comcast (CMCSA, CMCSK) subsidiary Universal's "Fifty Shades of Grey" earned roughly $94.4M in its opening weekend, reports the Wall Street Journal. The film earned an additional $172M overseas. Fox' (FOX, FOX.A) "Kingsman: The Secret Service" debuted in second place with $42M, and Viacom (VIA, VIA.B) subsidiary Paramount's "SpongeBob SquarePants: Sponge Out of Water" took $40M in its second week. Reference Link
07:08 EDTAAPLAuto market could be meaningful for Apple, says Cantor
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06:05 EDTFFord recalls 17,875 Falcons and Territories in Australia
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February 16, 2015
19:13 EDTCMCSALiberty Global may become takeover target, NY Times says
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February 15, 2015
16:44 EDTAAPLApple Watch could increase revenue by 10% next year, Barron's says
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07:47 EDTAAPLHope of car positive for Apple shares, says Piper Jaffray
Piper Jaffray analyst Gene Munster said in a note to investors yesterday that the potential for a car gives investors something to look at as "the next big thing" for Apple. Munster believes the Wall Street Journal's report that Apple is building an electric car will help support the stock over the next six months. He believes it is unlikely that the company launches anything in the next five years, however. Munster reiterated an Overweight rating on Apple with a $160 price target. The stock closed Friday up 62c to $127.08.
07:46 EDTAAPLApple working on minivan-like electric vehicle, WSJ reports
Apple has "several hundred" employees working secretly toward creating an Apple-branded electric vehicle, Wall Street Journal reported yesterday, citing people familiar with the matter. The project is known internally as "Titan" and has a design that resembles a minivan, the Journal added. The Financial Times reported yesterday that the iPhone maker is recruiting experts in automotive technology and vehicle design. Reference Link
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