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Stock Market & Financial Investment News

News Breaks
July 2, 2014
10:00 EDTABBV, URBN, TRGP, PTEN, PKE, ORCL, LMCA, HP, ETP, LLY, DRWI, CP, BAC, BHI, BRGYY, ALU, WBMDOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AbbVie (ABBV) upgraded to Overweight from Equal Weight at Barclays... Alcatel-Lucent (ALU) upgraded to Overweight from Neutral at JPMorgan... BG Group (BRGYY) upgraded to Buy from Hold at Canaccord... Baker Hughes (BHI) upgraded to Neutral from Sell at Guggenheim... Bank of America (BAC) upgraded to Buy from Hold at Deutsche Bank... Canadian Pacific (CP) upgraded to Outperformer from Sector Performer at CIBC... DragonWave (DRWI) upgraded to Buy from Neutral at H.C. Wainwright... Eli Lilly (LLY) upgraded to Equal Weight from Underweight at Barclays... Energy Transfer Partners (ETP) upgraded to Outperform at Wells Fargo... Helmerich & Payne (HP) upgraded to Neutral from Sell at Guggenheim... Liberty Media (LMCA) upgraded at Morgan Stanley... Men's Wearhouse (MW) upgraded at Stifel... Oracle (ORCL) upgraded to Overweight from Neutral at Atlantic Equities... Park Electrochemical (PKE) upgraded to Buy from Hold at Needham... Patterson-UTI Energy (PTEN) upgraded to Neutral from Sell at Guggenheim... Targa Resources (TRGP) upgraded to Conviction Buy from Buy at Goldman... Urban Outfitters (URBN) upgraded to Outperform from Neutral at Macquarie... WebMD (WBMD) upgraded at Stifel.
News For ABBV;ALU;BRGYY;BHI;BAC;CP;DRWI;LLY;ETP;HP;LMCA;ORCL;PKE;PTEN;TRGP;URBN;WBMD From The Last 14 Days
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August 21, 2014
09:09 EDTBACBofA to pay $9.65B in cash, $7B worth of consumer relief in settlement
Borrower relief will be in the form of mortgage modifications, including first-lien principal and forbearance forgiveness and second-lien extinguishments, low- to moderate-income mortgage originations, and community reinvestment and neighborhood stabilization efforts, with initiatives focused on communities experiencing, or at risk of, urban blight. This includes lien releases, uninhabitable and abandoned property demolition, and remediation and property donations. Also, Bank of America will support the expansion of available affordable rental housing. Bank of America has committed to complete delivery of the relief by no later than August 31, 2018. The consumer relief will be subject to oversight by an independent monitor.
09:07 EDTBACBofA to pay $16.65B in settlement with DOJ, state AGs
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09:03 EDTBACBank of America to pay $16.65B in settlement with DOJ, Bloomberg reports
08:41 EDTBACBank of America, DOJ settlement to be announced today, CNBC reports
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07:57 EDTABBVGilead HCV risks overblown, says Bernstein
Bernstein believes that investors are concerned about upcoming competition to Gilead's (GILD) HCV drug from AbbVie's (ABBV) HCV treatment. But Bernstein says that insurers can only prevent 16% of the U.S. population from receiving Gilead's drug, and the firm does not expect the HCV market share dynamics to change in the near-term. It keeps an Outperform rating on Gilead.
07:12 EDTLLYEli Lilly announces results from pivotal UNCOVER studies for ixekizumab
Eli Lilly announces that its investigational medicine ixekizumab was statistically superior to etanercept and placebo on all skin clearance measures in Phase 3 studies. Patients treated with both dosing regimens of ixekizumab had significantly greater levels of skin clearance compared to placebo and to etanercept at the 12-week endpoint. Skin clearance was measured by standard primary endpoints for psoriasis studies: the Psoriasis Area and Severity Index and the Static Physician Global Assessment. For patients treated with ixekizumab either every four weeks or every two weeks, between 78 to 90 percent of patients achieved at least a 75 percent reduction in PASI score at 12 weeks. Additionally, 31 to 41 percent of these patients achieved PASI 100, or clear skin, at week 12. For comparison, between 5 to 7 percent of patients treated with etanercept in the UNCOVER-2 and 3 studies achieved PASI 100. Adverse events were comparable for patients receiving ixekizumab in the 12-week, randomized control portion across all three studies.
06:43 EDTBACRegulators up bank warning efforts for poor risk assessment, Reuters says
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August 20, 2014
18:29 EDTBACBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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17:12 EDTBACOn The Fly: Closing Wrap
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14:35 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
Bank of America along with federal and state authorities agreed upon a $17B settlement for the bank in connection with the sale of mortgage-backed securities in the run-up to the 2008 financial crisis, says AP. Reference Link
14:20 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
12:38 EDTALUAlcatel-Lucent announces early repayment of $1.75B credit facility
Alcatel-Lucent announced today that its affiliate Alcatel-Lucent USA has repaid early and in full the senior secured credit facility of an initial principal amount of 1.75B entered into on January 30, 2013. The senior secured credit facility was secured by various first-priority pledges on a material portion of the Alcatel-Lucent Group's assets. The pledges will be consequently cancelled and released.
08:38 EDTBACRevolution Lighting enters loan, security agreement with BofA
Revolution Lighting (RVLT) announced that it has entered into a three year loan and security agreement with Bank of America (BAC). The agreement allows Revolution Lighting to borrow up to $25M on a revolving basis. Borrowings under the agreement are determined on specified percentages of eligible receivables and inventory, and bear interest either on the base rate plus specified margins or at LIBOR plus specified margins, at the election of Revolution Lighting. The loan provides Revolution Lighting with favorable interest rates with an initial interest rate of 3%. The agreement contains customary covenants and restrictions typical of these agreements.
06:26 EDTCPU.S. regulators call meeting with BNSF, Canadian Pacific over delays, WSJ says
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August 19, 2014
11:53 EDTURBNAeropostale soars as Geiger returns as CEO
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10:13 EDTURBNOn The Fly: Analyst Upgrade Summary
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08:01 EDTURBNUrban Outfitters shares should be bought on weakness, says Stifel
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07:14 EDTURBNUrban Outfitters Urban brand turnaround on track, says RBC Capital
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06:20 EDTBACBofA COO transfers, senior manager assumes role, Bloomberg says
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05:24 EDTURBNUrban Outfitters upgraded to Outperform from Neutral at RW Baird
RW Baird upgraded Urban Outfitters to Outperform citing a more favorable risk/reward following the company's Q2 results. Baird highlights merchandise improvements at the namesake brand and momentum at Anthropologie and Free People. The firm raised its price target for shares to $44 from $40.
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