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Stock Market & Financial Investment News

News Breaks
February 26, 2014
09:47 EDTZNGA, FSLR, C, TSLA, PBR, AAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TSLA FSLR PBR C ZNGA VZ
News For AAPL;TSLA;FSLR;PBR;C;ZNGA From The Last 14 Days
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June 15, 2015
17:16 EDTZNGAZynga enters asset purchase agreement with SF Incubator, super.io
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16:00 EDTC, AAPL, TSLAOptions Update; June 15, 2015
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14:13 EDTCCiti reports May credit loss 2.86% vs. 2.78% last month
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12:31 EDTCCiti, Renew Financial announce energy efficiency loan ABS transaction
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12:06 EDTCCiti faces headwinds in commodity trade finance, Reuters reports
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11:50 EDTTSLAStocks with call strike movement; TSLA AMZN
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10:34 EDTAAPLMicron declines after another analyst says sell
The shares of memory makers Micron (MU) and SanDisk (SNDK) are falling after Morgan Stanley downgraded both stocks in a note to investors earlier today. MICRON: Morgan Stanley analyst Joseph Moore downgraded Micron to Underweight, the firm's equivalent of a "sell" rating, from Equal Weight. Moore said that his checks in Taiwan indicate that the outlook for DRAM, a form of flash memory sold by Micron, is "cautious versus expectations" for the third quarter. Previously, the analyst had expected DRAM to experience a seasonal boost in Q3, but he now expects this lift to be delayed until at least Q4. Moreover, DRAM prices will probably stay weak through Q3 as customers' inventories of DRAM are excessive, while sales of PC DRAM will probably remain weak in Q3 and could stay low in Q4, the analyst stated. Moore is concerned that DRAM supply could exceed expectations in 2016, while demand for the product could decelerate next year. Micron could have difficulty improving its earnings in 2016 from current levels, warned the analyst, who set a $21 price target on the shares. WHAT'S NOTABLE: On June 9, after conducting checks in Taiwan, research firm Piper Jaffray predicted that PC DRAM prices would continue to decline. However, the firm kept an Overweight rating on Micron, citing its belief that the stock's valuation was "compelling." Much more pessimistic was research firm Drexel Hamilton, which on June 9 cut its rating on Micron to Sell from Hold, DRAM price declines are likely to continue, the firm predicted. SANDISK: On SanDisk, Moore believes that the company will have trouble recovering from declines in purchases of its products by Apple (AAPL). Various technological issues will prevent it from selling its products to other smartphone makers, the analyst stated. Meanwhile, SanDisk is unlikely to find alternative buyers for its SSD memory, since it is not widely used, added Moore. As a result, SandDsk will have to charge lower prices for its products, according to Moore, who downgraded SanDisk to Equal Weight from Overweight and lowered his price target on shares to $75 from $80. PRICE ACTION: In early trading, Micron fell 4.5% to $24 and SanDisk gave back 3.3% to $63.90.
10:29 EDTAAPLApple to pay more than 70% of Music revenue to rights owners, Re/code reports
Apple will pay music owners 71.5% of Apple Music's subscription revenue in the U.S. and 73% of the revenue to music owners outside the U.S, reports Re/code. In an interview, Apple's Robert Kondrik said the totals include payments to people who own the sound recordings Apple Music will pay as well as the people who own the publishing rights to the underlying compositions. Kondrik says Apple’s payouts are a few percentage points higher than the industry standard, in part to account for the lengthy trial period. Reference Link
10:00 EDTPBROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alleghany (Y) upgraded to Buy from Neutral at Janney Capital... BHP Billiton (BHP) upgraded to Hold from Reduce at HSBC... CNOOC (CEO) upgraded to Hold from Underperform at Jefferies... Diageo (DEO) upgraded to Outperform from Underperform at RBC Capital... Jabil Circuit (JBL) upgraded to Buy from Hold at Needham... LRR Energy (LRE) upgraded to Buy from Hold at Wunderlich... Lowe's (LOW) upgraded on positive catalysts at Wedbush... ORBCOMM (ORBC) upgraded to Outperform from Market Perform at Northland... Petrobras (PBR) upgraded to Overweight from Neutral at JPMorgan... Vanguard Natural (VNR) upgraded to Buy from Hold at Wunderlich... Williams-Sonoma (WSM) upgraded on more positive leverage outlook at Wedbush.
09:50 EDTAAPLApple price weakness continues, levels to watch
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09:38 EDTTSLA, C, AAPLActive equity options trading on open
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09:02 EDTFSLRFirst Solar achieves 18.6% thin film module conversion efficiency
First Solar announced it has set yet another world record for cadmium-telluride photovoltaic module conversion efficiency, achieving 18.6% aperture efficiency for an advanced full size module. For the first time ever, First Solar has demonstrated a record module that is more efficient than the best multi-crystalline module recorded. This achievement reinforces confidence in First Solar’s ability to deliver sustained product improvements consistent with its long-term technology roadmap.
08:34 EDTAAPLGlobal Payments announces support for Apple Pay in the U.K.
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08:19 EDTAAPLLG Display tapped as sole OLED supplier for second-gen Apple Watch, MK reports
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08:04 EDTTSLATesla credit facility clears up near-term cash concerns, says Dougherty
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08:03 EDTCMasterCard adding tokenization support for private label credit cards
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07:46 EDTAAPLJabil Circuit upgraded to Buy on continued growth at Needham
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07:33 EDTCBig banks may target fee-generating firms for acquisitions, WSJ says
Large U.S. banks may begin targeting fee-generating businesses as possible takeover targets, the Wall Street Journal reports. Big banks may start looking at businesses that don’t require too much capital for acquisitions, such as advisory businesses, payment processing, treasury services, and financial tech, the report says. Even though heightened capital and liquidity requirements make many types of acquisitions “unappealing” to big banks, the idea of banks even as big as JP Morgan (JPM) pursuing a multi-billion dollar deal is “no longer out of the realm of possibility,” the report says. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:09 EDTPBRPetrobras upgraded to Overweight from Neutral at JPMorgan
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06:45 EDTAAPLBeats axed plans for Sonos-like Wi-Fi speaker system, Variety reports
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