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Stock Market & Financial Investment News

News Breaks
January 4, 2013
10:24 EDTMSFT, ENDP, WFC, LGND, BBT, ABC, GBX, WAC, ILMN, WAT, JPM, BK, ABT, ALV, FSL, LULU, SKT, FSLR, DOLEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abbott (ABT) downgraded to Hold from Buy at Deutsche Bank... AmerisourceBergen (ABC) downgraded to Neutral from Buy at Mizuho... BB&T (BBT) downgraded to Neutral from Buy at Goldman... BNY Mellon (BK) downgraded to Neutral from Buy at Citigroup... Dole Food (DOLE) downgraded to Underperform from Buy at BofA/Merrill... First Solar (FSLR) downgraded to Underperform from Market Perform at Raymond James... JPMorgan (JPM) downgraded to Buy from Conviction Buy at Goldman... Ligand Pharmaceuticals (LGND) downgraded to Hold from Buy at Cantor... Tanger Factory (SKT) downgraded to Sell from Neutral at Goldman... Waters (WAT) downgraded to Equal Weight from Overweight at Morgan Stanley... Wells Fargo (WFC) downgraded to Neutral from Buy at Goldman... lululemon (LULU) downgraded to Neutral from Outperform at Credit Suisse... Illumina (ILMN)downgraded to Neutral from Outperform at Wedbush... Freescale (FSL) downgraded to Neutral from Overweight at JPMorgan.... Endo Health (ENDP) downgraded to Neutral from Overweight at Piper Jaffray... Walter Investment (WAC) downgraded to Neutral from Buy at Sterne Agee... Microsoft (MSFT) downgraded to Hold from Buy at Argus... Autoliv (ALV) downgraded to Neutral from Buy at Buckingham... Greenbrier (GBX) downgraded to Market Perform from Outperform at Avondale.
News For ABT;ABC;DOLE;BK;BBT;FSLR;JPM;LGND;SKT;WAT;WFC;LULU;ILMN;ENDP;FSL;WAC;MSFT;ALV;GBX From The Last 14 Days
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December 8, 2014
06:21 EDTJPMDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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06:12 EDTLULUStocks with implied volatility above IV index mean; LULU ACHN
Stocks with implied volatility above IV index mean; lululemon (LULU) 53, Achillion (ACHN) 216 according to iVolatility.
06:09 EDTGBXGreenbrier announces orders for 14,100 railcars valued at $1.24B
Greenbrier announced that it received new orders in its first quarter ended November 30 for 14,100 railcar units valued at $1.24B. Orders for the quarter include small-cube covered hopper cars for sand and cement transportation, boxcars, double-stack intermodal units, automobile carrying cars, gondolas and tank cars, both for crude oil and other commodity types. The average selling price for the orders reflects the diversity of railcar types ordered.
December 5, 2014
16:52 EDTMSFTDow just below 18K as market finishes week with gains
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13:26 EDTBBTComerica, BB&T, KeyCorp seen as potential activist targets, TheStreet says
The co-founder of PL Capital, Richard Lashley, expects shareholder activism to move from community banks to larger regional banks, including lenders like Comerica (CMA), BB&T Corp. (BBT), and KeyCorp (KEY), reported TheStreet, citing comments made during a panel on investment strategy during The Deal Economy Event at the Nasdaq Exchange. After the next presidential cycle, "When stress tests are done, when Basel is settled, and Congress will realize [the banks] have too much capital," Lashley expects more M&A in the sector, TheStreet quoted him as saying. Reference Link
10:35 EDTJPMJPMorgan hits fresh 52-week high, levels to watch
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10:10 EDTJPMJPMorgan CEO Jamie Dimon seeing no evidence of cancer after treatment, CNBC says
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10:00 EDTFSLOn The Fly: Analyst Upgrade Summary
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08:28 EDTFSLFreescale upgraded at Evercore ISI
As previously reported, Evercore ISI upgraded Freescale to Buy from Hold. The firm upgraded shares based on expectations for better top-line growth in 2015/16 given seasonal strength in Auto and strength in general purpose MCUs. Price target raised to $30 from $20.
07:46 EDTMSFTCIO survey results favorable for Microsoft, says Pacific Crest
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06:51 EDTFSLFreescale upgraded to Buy from Hold at Evercore ISI
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December 4, 2014
16:27 EDTMSFTOn The Fly: Closing Wrap
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14:21 EDTLULULululemon Athletica volatility elevated into Q3 and outlook
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12:34 EDTMSFTMicrosoft advances after analyst hikes target on upbeat earnings forecast
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12:22 EDTMSFTOn The Fly: Midday Wrap
Stocks on Wall Street began the session slightly lower despite relatively in-line jobless claims data, as European markets moved down following a rate decision and accompanying commentary from ECB President Mario Draghi. Adding to the modest pressure seen in morning trading may be the fact that oil prices continue to move lower. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 17K to 297K in the week ended November 29, which was nearly in-line with the expectation for 295K first-time claims. Challenger reported announced layoffs fell 15.2K in November to 35.9K. In Europe, the European Central Bank kept its key rates unchanged, as expected. ECB President Mario Draghi said in his accompanying press conference that the latest euro area macroeconomic projections indicate lower inflation, accompanied by weaker real GDP growth and subdued monetary dynamics. Additionally, he stated that early next year the Governing Council will reassess the monetary stimulus achieved, the expansion of the balance sheet and the outlook for price developments. "Should it become necessary to further address risks of too prolonged a period of low inflation, the Governing Council remains unanimous in its commitment to using additional unconventional instruments within its mandate. This would imply altering early next year the size, pace and composition of our measures," Draghi said. COMPANY NEWS: Shares of Barnes and Noble (BKS) slid about 10% after the company reported lower than expected second quarter earnings and said it continues to expect both Retail comparable bookstore sales and Retail Core comparable bookstore sales to decline in the low-single digits this fiscal year. Additionally, Barnes & Noble and Microsoft (MSFT) agreed to terminate their commercial agreement and B&N agreed to acquire Microsoft's entire preferred interest in NOOK Media in exchange for $62.4M cash and 2.74M shares of its stock. MAJOR MOVERS: Among the notable gainers was Hawaiian Electric (HE), which jumped 16% after its board approved a plan to spin off ASB Hawaii, the parent company for American Savings Bank, and establish it as an independent publicly traded company and NextEra Energy (NEE) agreed to acquire the company, excluding the banking subsidiary. Array BioPharma (ARRY) rose 15% after announcing it has reached a definitive agreement with Novartis (NVS) to regain full worldwide rights to binimetinib, a MEK inhibitor in three Phase 3 trials, which Piper Jaffray called a "big win" for the company. Among the noteworthy losers was UTi Worldwide (UTIW), which fell 11.5% after confirming that exploratory conversations have taken place with DSV, but adding those discussions never progressed beyond a preliminary stage and that no talks are currently taking place. Also lower were shares of Express (EXPR), which declined over 9% after the apparel retailer reported lower than expected Q3 revenue and gave EPS guidance that fell short of estimates. INDEXES: Near midday, the Dow was down 53.56, or 0.3%, to 17,859.06, the Nasdaq was down 2.80, or 0.06%, to 4,771.67, and the S&P 500 was down 5.49, or 0.26%, to 2,068.84.
10:08 EDTMSFTBarnes & Noble says Pearson continues to have 5% interest in Nook Media LLC
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08:46 EDTMSFTBarnes & Noble to pay $62.4M, 2.74M shares for Microsoft Nook stake
08:44 EDTMSFTBarnes & Noble to acquire preferred interest in NOOK Media from Microsoft
Barnes & Noble (BKS) filed a Form 8-K with the SEC stating that Barnes & Noble and Microsoft (MSFT) have agreed to terminate their commercial agreement including any associated obligations for international content acquisition and sale. Such termination will allow the company to continue its rationalization of the NOOK Digital business and enhances Barnes & Noble’s operational and strategic flexibility. The termination also relieves Microsoft of any obligation to continue to fund support and other payments set forth in the commercial agreement between the partners. Additionally, the company stated that it had entered into an agreement with Microsoft to acquire its entire preferred interest in NOOK Media, LLC. As a result of today’s announcement, Barnes & Noble expects that the completion of the potential separation of the company's businesses could occur by the end of August 2015, although there can be no assurances regarding the timing of such potential separation or that such separation will be completed.
08:40 EDTLULUlululemon coverage assume with an Outperform at Wedbush
Wedbush assumed coverage on lululemon with an Outperform rating from a Neutral rating and $57 price target. The firm sees shares moving higher from catalysts that include improving top line trends and comps, margin uside form seasonal products and supply chain efficiencies, international growth, and M&A speculation.
07:25 EDTMSFTMicrosoft price target raised to $56 from $50 at Nomura
Nomura raised Microsoft's price target to $56 to reflect the new Board's potential return of cash to shareholders. The analyst believes the Board is looking at several scenarios that include a leveraged recapitalization to buy back half its stock over a multi-year period, to a more likely, 5%-10% repurchase of shares. The firm rates shares a Buy.
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