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Stock Market & Financial Investment News

News Breaks
February 24, 2014
09:37 EDTAAPL, VZ, ABX, FB, TSLA, SINA, NFLXActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL VZ ABX FB TSLA SINA NFLX
News For AAPL;VZ;ABX;FB;TSLA;SINA;NFLX From The Last 14 Days
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August 11, 2014
15:36 EDTFBFacebook unique desktop visitor growth turns positive, says Goldman
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15:23 EDTTSLAJPMorgan to hold a conference
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13:40 EDTSINATwitter sees strong demand in China, hopes to enter market, Nikkei says
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12:25 EDTTSLAOn The Fly: Midday Wrap
Stocks on Wall Street opened in positive territory and have remained there throughout the morning. There was little in the way of a catalyst, as the economic calendar was empty, though investors may have been encouraged that there was no breakdown in the ceasefire agreement between Israel and Gaza and no big headlines from the Russia/Ukraine border. Additionally, some may have viewed comments from Fed Vice Chair Fischer as dovish and in support of continued easing. ECONOMIC EVENTS: In the U.S., no significant economic data was released. In prepared comments for a conference, Federal Reserve Vice Chairman Stanley Fischer said rebounds across advanced economies have been disappointing, leading the Fed and other observers to lower their long-term expectations for growth potential in the U.S. COMPANY NEWS: Shares of Kinder Morgan (KMI) advanced 10% after announcing it will consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). In addition to the rise in the shares of the parent, Kinder Morgan Energy shares rose 19%, Kinder Morgan Management gained 25% and El Paso Pipeline moved up 22%. MAJOR MOVERS: Among the notable gainers was salad and banana producer Chiquita Brands (CQB), which jumped 31% to trade above $13 per share after Cutrale Group and the Safra Group proposed to acquire 100% of the company's outstanding stock for $13 in cash each. Also higher was electric car maker Tesla (TSLA), which rose 5% after Deutsche Bank upgraded the stock to Buy from Hold and raised its price target on the shares to $310 from $220. Among the noteworthy losers was social game maker King Digital (KING), which slid 3% after the stock was downgraded at Pacific Crest to Sector Perform from Outperform. Also lower following their earnings reports were Inovio (INO), which fell over 8%, and Gogo (GOGO), which dropped nearly 6%. INDEXES: Near midday, the Dow was up 51.25, or 0.31%, to 16,605.18, the Nasdaq was up 38.19, or 0.87%, to 4,409.08, and the S&P 500 was up 10.12, or 0.52%, to 1,941.71.
11:52 EDTTSLATesla advances following Deutsche Bank upgrade
Shares of electric car maker Tesla (TSLA) are rising after Deutsche Bank upgraded the stock to Buy from Hold and raised its price target on the shares to $310 from $220. WHAT'S NEW: This morning, Deutsche Bank analyst Rod Lache upgraded Tesla, citing guidance issued by the company on its second quarter earnings conference call. On the call, Tesla's management indicated that its growth trajectory will be steeper, its product mix much richer, and its costs significantly lower than previously thought. Lache increased his growth forecasts as a result, taking up his FY15-FY17 volume estimates to 60,000, 100,000, and 129,000 units from previous views of 51,000, 60,000, and 83,000 units, respectively. The analyst added that even these forecasts may prove conservative since Tesla expects to end 2014 and 2015 with 50,000 and 100,000 units of capacity. The firm sees a clear path to 500,000 units of annual production by the end of the decade and expects growth to continue as Tesla continues to seek additional production capacity. In terms of product mix, Deutsche expects Tesla sales to gravitate more towards the Model S and X versus the Model 3, thus increasing their profitability. In addition, Tesla is targeting battery pack costs of $150/kWh by late 2017 versus about $250/kWh today, and they see costs falling below $100/kWh within ten years. If achieved, these levels could provide an outright cost advantage for Tesla's electric vehicles compared to their gas operated competitors. WHAT'S NOTABLE: Based on the improved outlook, the analyst now expects EPS in the $27 range by 2020, up from his prior view of $20. Lache raised his 12-month price target on the shares to $310 from $220. PRICE ACTION: In late morning trading, Tesla rose $12.54, or 5%, to $260.67. Including today's advance, the stock is up approximately 70% over the past 12 months.
10:19 EDTTSLAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Outperform from Market Perform at Wells Fargo... Alon USA Partners (ALDW) upgraded to Outperform from Neutral at Credit Suisse... Buenaventura (BVN) upgraded to Buy from Underperform at BofA/Merrill... CNO Financial (CNO) upgraded to Overweight from Equal Weight at Morgan Stanley... Central European Media (CETV) upgraded to Neutral from Sell at Goldman... Cepheid (CPHD) upgraded to Neutral from Cautious at ISI Group... Chuy's (CHUY) upgraded to Outperform from Market Perform at Raymond James... Compressco (GSJK) upgraded to Strong Buy from Market Perform at Raymond James... Concho Resources (CXO) upgraded to Overweight from Equal Weight at Stephens... Frank's International (FI) upgraded to Neutral from Sell at Goldman... Freeport McMoRan (FCX) upgraded to Buy from Hold at Argus... GNC Holdings (GNC) upgraded to Outperform from Neutral at Credit Suisse... Genworth (GNW) upgraded to Equal Weight from Underweight at Morgan Stanley... Gulfport Energy (GPOR) upgraded at Stifel... Huntington Ingalls (HII) upgraded to Buy from Neutral at UBS... Hyatt Hotels (H) upgraded at Stifel... J.C. Penney (JCP) upgraded to Hold from Sell at Craig-Hallum... Kinder Morgan (KMI) upgraded to Buy from Neutral at BofA/Merrill... Krispy Kreme (KKD) upgraded to Outperform from Neutral at Wedbush... Oasis Petroleum (OAS) upgraded to Buy from Neutral at Sterne Agee... PepsiCo (PEP) upgraded to Buy from Neutral at UBS... Regency Centers (REG) upgraded to Neutral from Underperform at BofA/Merrill... SandRidge Energy (SD) upgraded to Reduce from Sell at KLR Group... Southwest Gas (SWX) upgraded to Buy from Hold at Brean Capital... Tesla (TSLA) upgraded to Buy from Hold at Deutsche Bank.
10:07 EDTAAPLVirnetX says court denies Apple motion in patent suit
VirnetX (VHC) announced that on August 8 the U.S. District Court for the Eastern District of Texas, Tyler Division, issued its patent claim construction, or "Markman" Order and ruled on a VirnetX motion in the ongoing patent infringement action between VirnetX and Apple (AAPL). Both parties had presented arguments on the disputed terms along with various other motions at a Markman hearing on May 20. In the Markman order, the court denied Apple's Motion for Summary Judgment of Indefiniteness, in which Apple alleged that some of the disputed claims terms in the patents asserted by VirnetX were invalid for indefiniteness. In a separate order, the court granted in part and denied in part VirnetX's Motion for Partial Summary Judgment on Apple's Invalidity Counterclaims. The court's order precludes Apple from asserting invalidity as a defense against infringement of the claims that were tried before a jury in VirnetX's prior litigation against Apple. Apple is not precluded from asserting invalidity as a defense against infringement of the claims that were not tried before a jury in the Apple I case. "We are extremely pleased with the court's rulings and we remain confident in the merits of our complaint against Apple," said Kendall Larsen, VirnetX CEO and President. "We believe the court's Markman Order and motion ruling represents another significant step towards the successful resolution of this litigation."
09:36 EDTFB, NFLX, TSLA, AAPLActive equity options trading on open
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09:06 EDTTSLAOn The Fly: Pre-market Movers
HIGHER: PharmAthene (PIP), up 55% after announcing that a Delaware court awarded the company lump sum expectation damages for the value of its lost profits for SIGA Technologies' (SIGA) smallpox antiviral, Tecovirimat... MannKind (MNKD), up 19% after entering exclusive licensing agreement for development and commercialization of Afrezza inhaled insulin with Sanofi (SNY)... Kinder Morgan (KMI), up 19% after announcing it will acquire all of the outstanding equity securities of Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB)... Tesla (TSLA), up 2.7% following upgrade at Deutsche Bank... Achillion (ACHN), up 6% following upgrades at Wells Fargo and at Piper Jaffray... PepsiCo (PEP), up 0.9% following upgrade at UBS. LOWER: Dean Foods (DF), down 8.6% after reporting Q2 losses that were steeper than expected, saying balance of year "appears rocky," which makes it difficult to provide guidance beyond the immediate quarter... Priceline (PCLN), down 0.7% after reporting Q2 revenue that missed expectations, guiding Q3 EPS below consensus... SIGA Technologies, down 31% after ruling in suit with PharmAthene... 2U (TWOU), down 4.3% after downgraded at Goldman.
06:38 EDTTSLATesla upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded its rating on Tesla (TSLA) shares to Buy saying it expects the electric car maker to be much more profitable than previously thought following comments on the company's Q2 earnings call. Deutsche now thinks Tesla can produce 500,000 units of annual production by late this decade. It raised its price target for the stock to $310 from $220. Shares of Tesla closed Friday down $2.46 to $248.13.
06:23 EDTAAPLGoogle testing "Listen Now" music ads, WSJ reports
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06:12 EDTFBFacebook implied volatility of 31 at lower end of index mean range
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August 10, 2014
16:51 EDTAAPLCourt rejects $324M settlement in tech hiring conspiracy, NYT says
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August 8, 2014
16:16 EDTAAPLU.S. judge rejects Apple, Google antitrust hiring accord, Bloomberg reports
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16:00 EDTNFLX, TSLA, AAPLOptions Update; August 8, 2014
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11:32 EDTVZSprint is preparing to engage in fierce pricing war, WSJ reports
Sprint (S) is preparing to engage in a fierce price competition on the heels of an almost complete network revamp, according to the Wall Street Journal, citing Masayoshi Son, the CEO of parent company Softbank (SFTBY). Sprint is currently testing new pricing plans, and will utilize its "street fighter" strategies to take on larger rivals Verizon (VZ) and AT&T (T). "Price competition will intensify. Sprint will soon be ready to join the fray," Son said. Reference Link
10:00 EDTABXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Activision Blizzard (ATVI) upgraded to Buy from Neutral at Longbow... Allergan (AGN) upgraded to Outperform from Market Perform at Leerink... Andersons (ANDE) upgraded to Buy from Hold at Feltl... Arista Networks (ANET) upgraded to Buy from Neutral at Citigroup... Barrick Gold (ABX) upgraded to Conviction Buy from Buy at Goldman... Brinker (EAT) upgraded to Outperform from Market Perform at Raymond James... CF Industries (CF) upgraded to Buy from Hold at Feltl... CST Brands (CST) upgraded to Neutral from Underperform at Credit Suisse... Cimarex Energy (XEC) upgraded to Accumulate from Hold at KLR Group... Coca-Cola HBC (OCCH) upgraded to Buy from Hold at Deutsche Bank... Delek US (DK) upgraded to Outperform at Cowen... Fifth Street Finance (FSC) upgraded to Buy from Neutral at Guggenheim... Glimcher Realty Trust (GRT) upgraded to Buy from Neutral at BofA/Merrill... Goodrich Petroleum (GDP) upgraded to Strong Buy from Outperform at Raymond James... Monster Beverage (MNST) upgraded to Neutral from Underperform at Longbow... NIC Inc. (EGOV) upgraded to Outperform from Market Perform at Barrington... NVIDIA (NVDA) upgraded at Needham... POZEN (POZN) upgraded to Buy from Hold at Ascendiant... Power Solutions (PSIX) upgraded to Accumulate from Neutral at Global Hunter... Primoris (PRIM) upgraded to Buy from Hold at BB&T... Sierra Bancorp (BSRR) upgraded to Outperform from Market Perform at Raymond James... Sonus Networks (SONS) upgraded to Outperform from Market Perform at Barrington... Stone Energy (SGY) upgraded to Buy from Accumulate at KLR Group... Tornier (TRNX) upgraded at BMO Capital... Tyson Foods (TSN) upgraded to Buy from Hold at BB&T... WGL Holdings (WGL) upgraded to Buy from Hold at Brean Capital.
09:37 EDTNFLX, AAPL, TSLAActive equity options trading on open
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07:31 EDTAAPLChina refutes report of Apple product procurement ban, Re/code reports
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07:02 EDTABXBarrick Gold upgraded to Conviction Buy from Buy at Goldman
Goldman added Barrick Gold to the Conviction Buy List following the solid Q2 report citing improving operational profile, free-cash-flow generation, portfolio optimization, and growth in copper production. Shares are Buy rated with a $22 price target.
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