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Stock Market & Financial Investment News

News Breaks
January 3, 2013
10:00 EDTHST, PJC, LAZ, GS, CSCO, ACOR, AEZS, BDX, MS, JPM, EVR, BAC, SPWR, PCLN, MDT, HUN, C, ALUOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Acorda Therapeutics (ACOR) upgraded to Buy from Neutral at Citigroup... Alcatel-Lucent (ALU) upgraded to Neutral from Underperform at Credit Suisse... Bank of America (BAC) upgraded to Market Perform from Underperform at JMP Securities... Cisco (CSCO) upgraded to Outperform from Sector Perform at RBC Capital... Citigroup (C) upgraded to Buy from Neutral at Sterne Agee... Evercore Partners (EVR) upgraded to Outperform from Market Perform at JMP Securities... Goldman Sachs (GS) upgraded to Market Perform from Underperform at JMP Securities... Huntsman (HUN) upgraded to Buy from Neutral at Citigroup... JPMorgan (JPM) upgraded to Buy from Neutral at Sterne Agee... Lazard (LAZ) upgraded to Outperform from Market Perform at JMP Securities... Medtronic (MDT) upgraded to Buy from Neutral at Mizuho... Morgan Stanley (MS) upgraded to Market Perform from Underperform at JMP Securities... Piper Jaffray (PJC) upgraded to Outperform from Market Perform at JMP Securities... priceline.com (PCLN) upgraded to Buy from Neutral at BofA/Merrill... Becton Dickinson (BDX) upgraded to Equal Weight from Underweight at Morgan Stanley... Host Hotels (HST) upgraded to Overweight from Neutral at JPMorgan... SunPower (SPWR) upgraded to Buy from Neutral at Lazard Capital... Aeterna Zentaris (AEZS) upgraded to Buy from Hold at MLV Equity.
News For ACOR;ALU;BAC;CSCO;C;EVR;GS;HUN;JPM;LAZ;MDT;MS;PJC;PCLN;BDX;HST;SPWR;AEZS From The Last 14 Days
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August 17, 2015
10:26 EDTBACBank of America reports July default rate 2.67% vs. 2.62% last month
Reports July delinquency rate 1.62% vs. 1.65% last month.
10:09 EDTHUN, CSCOOn The Fly: Analyst Downgrade Summary
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09:38 EDTBAC, HUNActive equity options trading on open
Active equity options trading on open: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT
08:03 EDTSPWRSunPower solar panel manufacturing site verified by Mexico to be landfill-free
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07:39 EDTCSCOTMC to hold a conference
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07:33 EDTSPWRUBS to hold a field trip
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06:56 EDTCDOJ probes Citi dealings with Carlos Hank Rhon companies, Bloomberg says
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06:45 EDTCSCOCisco downgraded to Equal Weight from Overweight at Morgan Stanley
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06:21 EDTHUNHuntsman downgraded to Buy from Conviction Buy at Goldman
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06:12 EDTJPMJPMorgan reports July net credit losses 2.31% vs. 2.34% last month
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06:06 EDTGSGoldman expected to take minority stake in India's Piramal Realty, Reuters says
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05:55 EDTJPMJPMorgan upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Christopher Mutascio upgraded JPMorgan to Outperform with a $77 price target, suggesting total return potential of 16%. Mutascio views the stock's valuation as attractive and highlights the "high dividend yield in a low-interest-rate environment."
August 14, 2015
16:37 EDTPCLN, BACAppaloosa gives quarterly update on stakes, takes stake in Apple
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16:16 EDTCSCOStocks end week higher after China rattles market with currency moves
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16:13 EDTGSOn The Fly: Top stock stories for Friday
Stocks began the session with modest losses despite a calm overnight trading session for the Chinese yuan. The U.S. economic data that was released prior to the open were generally in-line with expectations leaving little for investors to key in on during the market hours. As a result, the averages drifted several times across the flat line until finally moving higher in the afternoon. Even the price of crude was fairly stale throughout the session, but it still closed toward its low of the day. The market received a slight boost toward the end of the session when headlines out of Europe said the area's finance ministers agreed to implement the Greek bailout with a couple of additional measures. ECONOMIC EVENTS: In the U.S., both industrial production and PPI beat estimates, with industrial production increasing 0.6% and PPI increasing 0.2%. Consumer sentiment for August fell to 92.9 in the preliminary report from the University of Michigan survey, after slipping to 93.1 in July from 96.1 in June. Meanwhile, Euro-area GDP rose 0.3% last quarter. Germany's economy grew 0.4%, Italy's 0.2%, while France stagnated. The Baker Hughes North American rig count report was unchanged from last week at 884 rigs. COMPANY NEWS: Nelson Peltz's Trian Fund Management disclosed a new 7.08% stake in food distributor Sysco Corporation (SYY), and is engaged in discussions with the company including board representation for Trian. Sysco rose 7.4% to $41.38 after the disclosure of the Trian stake... General Electric (GE) announced an agreement to sell GE Capital Bank's U.S. online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA (GS). Under this agreement approximately $16B of deposits will be transferred to GS Bank. Additionally, Reuters reported that General Electric was expected to win EU antitrust approval for its proposed EUR12.4B acquisition of Alstom's (ALSMY) power unit, according to two people familiar with the matter. GE rose 1.1% to $26.08 on the day. MAJOR MOVERS: Among the notable gainers following their earnings reports were department store retailers Nordstrom (JWN) and J.C. Penney (JCP), which gained 4.3% and 5.6%, respectively. Also higher was WuXi PharmaTech (WX), up 6.15%, which reported earnings and entered into an agreement to be acquired by a management buyout group for around $3.3B. Among the noteworthy losers was El Pollo Loco (LOCO), which dropped 20.7% after its Q2 revenue fell short of analysts' estimates. Also lower were shares of King Digital (KING), which declined nearly 20.7% after reporting quarterly earnings and forecasting gross bookings for the third quarter $460M-$485M, citing "recent trends." INDEXES: The Dow rose 69.15, or 0.4%, to 17,477.40, the Nasdaq gained 14.68, or 0.29%, to 5,048.23, and the S&P 500 advanced 8.15, or 0.39%, to 2,091.54.
16:00 EDTCSCO, BAC, HUNOptions Update; August 14, 2015
iPath S&P 500 VIX Short-Term Futures down 4c to 16 Option volume leaders: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT RAD CSCO JCP AMZN SUNE
13:03 EDTPCLNOmega Advisors gives quarterly update on stakes, discloses stake in Google
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12:37 EDTGSOn The Fly: Top stock stories at midday
Stocks began the session with modest losses, despite a stabilization in the Chinese yuan overnight. Relatively in line data on producer prices and industrial production did not hurt the situation, but there was also the lack of a catalyst. As a result, the market has drifted throughout the morning session moving up as much as 0.4% before paring its gains. The market is now struggling to hold onto its meager gains. ECONOMIC EVENTS: In the U.S., both industrial production and PPI beat estimates, with industrial production increasing 0.6% and PPI increasing 0.2%. Consumer sentiment for August fell to 92.9 in the preliminary report from the University of Michigan survey, after slipping to 93.1 in July from 96.1 in June. Meanwhile, Euro-area GDP rose 0.3% last quarter. Germany's economy grew 0.4%, Italy's 0.2%, while France stagnated. The Baker Hughes North American rig count report is out at 1 p.m. ET. COMPANY NEWS: General Electric (GE) announced an agreement to sell GE Capital Bank's U.S. online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA (GS). Under this agreement approximately $16B of deposits will be transferred to GS Bank. Separately, Goldman Sachs is selling its Colombia coal mining division to privately held Murray Energy. General Motors (GM) is boosting production of its larger SUVs and trucks, according to Reuters. The automaker could make as many as 60,000 additional vehicles for the 2016 model year to capitalize on rising demand. Meanwhile, GM is recalling 73,424 small cars because improper wiring could prevent the roof-mounted driver's side air bag from deploying after a crash, the Associated Press reported. SunTrust analyst Robert Peck said he believes Twitter (TWTR) could announce a permanent CEO as early as next week. Peck continues to think Twitter is likely to unveil a "Triumvirate of leadership" with Jack Dorsey as CEO, Adam Bain as COO and Evan Williams with more board influence, possibly Chairman. Tesla's (TSLA) secondary offering of 2.7 million common shares was priced at $242 each, according to an SEC filing. That represents an increase from the 2.1 million shares Tesla had previously announced for the offering. MAJOR MOVERS: Among the notable gainers following their earnings reports were department store retailers Nordstrom (JWN) and J.C. Penney (JCP), which gained 5.35% and 5.95%, respectively. Also higher was WuXi PharmaTech (WX), up 5.45%, which reported earnings and entered into an agreement to be acquired by a management buyout group for around $3.3B. Cyberark Software (CYBR) also gained 1.8% after being upgraded to Outperform from Market Perform at Wells Fargo. Among the noteworthy losers was El Pollo Loco (LOCO), which dropped 18% after its Q2 revenue fell short of analysts' estimates. Also lower were shares of King Digital (KING), which declined nearly 12% after reporting quarterly earnings and forecasting gross bookings for the third quarter $460M-$485M, citing "recent trends." The company said fourth quarter gross bookings would be "fairly consistent sequentially." JPMorgan downgraded King Digital this morning to Neutral from Overweight citing an elevated risk profile following the results. INDEXES: Near midday, the Dow was up 42.43, or 0.24%, to 17,450.68, the Nasdaq was fractionally lower by 2.96, or 0.06%, to 5,030.59, and the S&P 500 was up 3.46, or 0.17%, to 2,086.89.
08:32 EDTGSGoldman Sachs sells Colombia Natural Resources to Murray
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06:12 EDTGSGoldman Sachs sells Colombia Natural Resources to Murray, Reutes reports
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