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Stock Market & Financial Investment News

News Breaks
May 28, 2014
10:00 EDTLOW, DG, VOD, HSH, ACUR, NLS, LYVOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Acura Pharma (ACUR) downgraded to Hold from Buy at MLV & Co.... Dollar General (DG) downgraded to Hold from Buy at Deutsche Bank... Hillshire Brands (HSH) downgraded to Market Perform from Outperform at BMO Capital... Live Nation (LYV) downgraded at Sterne Agee... Lowe's (LOW) downgraded at Canaccord... Nautilus (NLS) downgraded to Neutral from Buy at B. Riley... Vodafone (VOD) downgraded to Hold from Buy at Berenberg.
News For ACUR;DG;LYV;HSH;LOW;NLS;VOD From The Last 14 Days
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February 4, 2016
06:19 EDTLOWQuebec probably won't stand in way of Lowe's-Rona deal, Bloomberg says
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05:34 EDTLOWRONA upgraded to Equal Weight from Underweight at Barclays
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05:15 EDTLOWStocks with implied volatility movement; VLO LOW
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February 3, 2016
18:47 EDTLOWRONA shareholder la Caisse to tender shares to Lowe's offer
Institutional investor Caisse de depot et placement du Quebec announced it has reviewed the proposal made by Lowe's to acquire RONA and determined it will tender its RONA shares in support of the transaction. "Considering the unanimous recommendation by Rona's board of directors to accept this offer, the premium of 105% relative to the volume weighted average share value on the Toronto Stock Exchange over the past 30 days, la Caisse's duties to its clients and the commitments made by Lowe's regarding its presence in Quebec and in Canada, la Caisse confirms that it will tender its shares under the offer made by Lowe's. Overall, la Caisse believes the transaction will result in equal or superior economic activity generated by the Rona banners in Quebec," said the group. Reference Link
16:40 EDTLOWOn The Fly: Top stock stories for Wednesday
Stocks began the session in positive territory but were unable to hold their early gains. Following larger than expected builds in energy inventories, oil moved lower, taking equities with it. By the noon hour oil prices recovered and moved higher once again, helping to lift equities. While oil prices continued their advance and moved up more than 7%, stocks lagged, especially the Nasdaq, which was down as much as 1.5% this afternoon. That changed in the last hours of trading, which saw the Dow spurt higher and the Nasdaq recover most of its losses heading into another heavy dose of corporate earnings reports after the close. ECONOMIC EVENTS: In the U.S., ADP estimated that private payrolls grew by 205,000 jobs in January, topping the consensus forecast for 190,000 job additions. Markit's services PMI came in at 53.2, versus the consensus 53.7 forecast. The Institute for Supply Management's non-manufacturing index came in at 53.5 for January, down from 55.3 in the previous month and below the 55.1 reading forecast by analysts. In Asia, the Caixin services PMI for China climbed to 52.4 in January from 50.2 in December, while Japan's services PMI rose to 52.4 from 51.5 in the prior month. Additionally, China's National Development and Reform Commission set its economic growth projection range for this year at 6.5%-7%, noting that attempts to curb overcapacity will increase unemployment in provinces with high output of steel and coal. In Europe, Markit's composite purchasing managers index for January declined to 53.6 from 54.3 in December. COMPANY NEWS: Shares of Yahoo (YHOO) declined 4.75% to $27.68 after the embattled Internet company reported fourth quarter results and announced plans to simplify its product portfolio and reduce its workforce by roughly 15%. Maynard Webb, Yahoo's chairman, said the board is committed to its turnaround efforts and supportive of management's plan, but also believes that exploring additional strategic alternatives is in the best interest of its shareholders... Chipotle Mexican Grill (CMG) fell 2.89% to $461.92 after reporting lower than expected revenue and a 14% plunge in same-store sales for the quarter. Adding to the negative headlines, the restaurant operator also disclosed a subpoena broadening the scope of a criminal investigation that was previously limited to a single Chipotle location in California. Also punished by food safety worries were shares of Buffalo Wild Wings (BWLD), which slid 4.24% to $143.64 after one of its restaurants was named a suspected source of new norovirus-like cases in suburban Kansas City, though the company disputed a link between its location and the illnesses. The stock continued to move lower in after-hours trading following the company's earnings report and lower than expected guidance... Merck (MRK) was one of the worst performers on the Dow, dipping to as low as $48.58 before ending the day down 0.7% at $50.04 after its earnings narrowly topped estimates but guidance for the new year fell short of expectations. Among other large cap names reporting earnings this morning, Comcast (CMCSA) rose 5.95% following its report, while General Motors (GM) slid 2.43%. MAJOR MOVERS: Among the notable gainers was Autodesk (ADSK), which rallied 8% to $49.56 after announcing a restructuring plan that will see its workforce cut by roughly 10%. Also higher was Angie's List (ANGI), which jumped 13.53% to $9.48 after the New York Post reported that InterActiveCorp (IAC) is preparing a "big run" to acquire the company. In addition, Syngenta (SYT) rose 2% to $80.21 after receiving a $43B-plus takeover offer from ChemChina. Among the noteworthy losers was Lowe's (LOW), which fell 6.2% to $67.42 after agreeing to acquire Canada's RONA in a deal valued at $2.3B. Also lower was Barnes & Noble (BKS), which declined 9.6% to $7.32 after mall operator General Growth (GGP) said during a conference call that Amazon (AMZN) plans to open 300-400 physical bookstores. After the closing bell, General Growth CEO Sandeep Mathrani indicated that his previous statement "was not intended to represent Amazon's plans." Meanwhile, Marathon Petroleum (MPC), Mondelez (MDLZ) and Match Group (MTCH) lost 7.6%, 6.5% and 12.6%, respectively, following their quarterly reports. INDEXES: The Dow rose 183.12, or 1.13%, to 16,336.66, the Nasdaq fell 12.71, or 0.28%, to 4,504.24, and the S&P 500 advanced 9.50, or 0.5%, to 1,912.53.
14:45 EDTLOWLowe's selloff on RONA deal seems overdone, says Baird
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13:35 EDTLOWLowe's CEO: RONA merger in 'much better place' than 2012 offer, Fortune says
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12:24 EDTLOWOn The Fly: Top stock stories at midday
Stocks on Wall Street began the day in positive territory thanks in part to higher oil prices, dovish comments from NY Fed Governor Bill Dudley and a positive jobs report from ADP. The early gains were short lived, as the market saw its highest prices at the open and then drifted lower, gaining downside momentum after two reports on the services sector both pointed to a deceleration. After the Dow lost more than 100 points, the market found a level and bounced back, leaving the averages lower but off their worst levels near noon. ECONOMIC EVENTS: In the U.S., ADP estimated that private payrolls grew by 205,000 jobs in January, topping the consensus forecast for 190,000 job additions. Markit's services PMI came in at 53.2, versus the consensus 53.7 forecast. The Institute for Supply Management's non-manufacturing index came in at 53.5 for January, down from 55.3 in the previous month and below the 55.1 reading forecast by analysts. In Asia, the Caixin services PMI for China climbed to 52.4 in January from 50.2 in December, while Japan's services PMI rose to 52.4 from 51.5 in the prior month. Additionally, China's National Development and Reform Commission set its economic growth projection range for this year at 6.5%-7%, noting that attempts to curb overcapacity will increase unemployment in provinces with high output of steel and coal. In Europe, Markit's composite purchasing managers index for January declined to 53.6 from 54.3 in December. COMPANY NEWS: Shares of Yahoo (YHOO) declined 6% after the embattled Internet company reported fourth quarter results and announced plans to simplify its product portfolio and reduce its workforce by roughly 15%. Maynard Webb, Yahoo's Chairman, said the company's board is committed to its turnaround efforts and supportive of management's plan, but also believes that exploring additional strategic alternatives is in the best interest of its shareholders, though the acknowledgment that the company will "engage on qualified strategic proposals" did little to boost its shares this morning... Chipotle Mexican Grill (CMG) fell 4% after reporting lower than expected revenue and stating that its same-store sales had plunged more than 14% last quarter. Additionally, the burrito chain disclosed that it was served with a subpoena broadening the scope of the previously-announced criminal investigation that was limited to a single Chipotle restaurant in California. As Chipotle shares continue to get punished over the company's food safety issues, another stock was hit today by a similar fear, as Buffalo Wild Wings (BWLD) slid 6% after one of its locations was named as a suspected source of new cases of people suffering from norovirus-like symptoms in suburban Kansas City. However, the company said there "is no conclusive link to [its] restaurant being the source of the illness" and that the location reopened on Wednesday after a consultation with the health department... Merck (MRK) was one of the worst performers on the Dow, sliding nearly 3% after its earnings narrowly topped expectations but its guidance for the new fiscal year fell short of expectations. Among other large cap names reporting earnings this morning, Comcast (CMCSA) rose 4% following its report, while General Motors (GM) slid 4%. MAJOR MOVERS: Among the notable gainers was Autodesk (ADSK), which rallied more than 8% after it announced a restructuring plan that involves reducing its workforce by roughly 10%. Also higher were Energizer (ENR), Spectra Energy (SE), and Avery Dennison (AVY), which gained 15%, 7%, and 7%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Lowe's (LOW), which fell 7% after it agreed to acquire Canada's RONA in a deal valued at $2.3B. Also lower were Mondelez (MDLZ), Match Group (MTCH), and MPLX (MPLX), which were down 7%, 14%, and 19%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 13.22, or 0.08%, to 16,140.32, the Nasdaq was down 48.09, or 1.06%, to 4,468.85, and the S&P 500 was down 11.42, or 0.6%, to 1,891.61.
11:26 EDTLOW, DGOptions with increasing call volume; LOW LNC DG EW SNOW KLIC CIT AN EAT SYT
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06:54 EDTLOWLowe's to host conference call
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06:03 EDTLOWLowe's to acquire RONA in deal valued at $2.3B
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06:00 EDTLOWLowe's to acquire RONA in deal valued at $2.3B
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February 2, 2016
08:37 EDTVODVodaone confirms talks with Liberty Global for creation of Netherlands JV
Following recent media speculation, Vodafone (VOD) confirms it is in discussions with Liberty Global (LBTYA) regarding the creation of a joint venture in the Netherlands that would incorporate both companies' local operating businesses. The discussions are ongoing and do not extend beyond the creation of a joint venture in the Netherlands. There is no certainty as to when or whether any transaction will be agreed.
08:23 EDTVODVodafone in talks with Liberty Global for JV in Netherlands, Bloomberg says
07:29 EDTVODVodafone, Liberty Global resume talks on possible asset swaps, Bloomberg reports
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February 1, 2016
16:13 EDTACURAcura Pharma says clinical testing on LTX-04 to commence in Q1
Acura Pharmaceuticals announced that clinical testing of its lead LIMITX oral abuse deterrent drug candidate using the opioid hydromorphone HCl is allowed to proceed under an Investigational New Drug Application, or IND, the company filed with the FDA on December 30, 2015. LIMITX is designed to retard the release of the product's active ingredient as more and more tablets are orally consumed thereby limiting peak blood concentrations of the opioid. The company is in the process of manufacturing clinical trial materials and expects to commence enrollment in the first clinical study of LTX-04, Study AP-LTX-400, later in Q1. Study AP-LTX-400, will be a Phase 1 exploratory pharmacokinetic study to evaluate the plasma absorption of hydromorphone from orally administered tablets in the fasted state. Study AP-LTX-400 will target to complete approximately 48 healthy subjects in two separate cohorts, with 24 subjects in each cohort. For safety, all subjects will receive a naltrexone block prior to and during dosing to blunt any serious adverse effects that may result from the doses of hydromorphone. Subjects in Cohort 1 will be further randomized into three dosage groups taking either one, two or three 2mg hydromorphone tablets. Each Cohort 1 subject will take two different test formulations of LTX-04 and DILAUDID brand of hydromorphone HCl. The objective of Cohort 1 will be to determine if the LTX- 04 test products are delivering the appropriate amount of hydromorphone into the blood stream to treat pain. Additionally, Cohort 1 may begin assessing the extent that the release of hydromorphone active ingredient from the LTX-04 tablets is retarded as the dose level increases. Following the results of Cohort 1, Cohort 2 subjects will be randomized into three dosage groups taking four, six or eight 2mg hydromorphone tablets. Each Cohort 2 subject will take one test formulation of LTX-04 selected based on the results of Cohort 1 and DILAUDID. The objective of Cohort 2 will be to further explore the extent the release of hydromorphone active ingredient from LTX-04 tablets is retarded as the dose level increases to abusive levels. A safety assessment of LTX-04 will be made from both study cohorts. Acura expects topline study results from Study AP-LTX-400 to be available in the first half of 2016.
January 29, 2016
16:12 EDTLOWLowe's names Sandra Cochran to board of directors
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11:02 EDTLYVPepsiCo unveils new hospitality venture with launch of Kola House
Pepsi (PEP) announces its plans to launch Kola House, the first experimental kola bar, restaurant, lounge and event space to open in the U.S. market. This first-of-its-kind hospitality venture is set to open its doors in spring 2016, with its flagship location in New York City's Meatpacking District. The flagship location will also serve as an event space for pop culture moments in music, art, style, film, sports and more. Pepsi is leveraging its partnership with Live Nation (LYV) to help build out a special music series, Live at the Kola House, which will serve as tent pole moments throughout its year-long programming. Each of the intimate, stripped down performances will bring fans up-close to the artists both visually and acoustically for the once-in-a-lifetime shows.
January 26, 2016
10:00 EDTVODOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded on valuation, 2017 outlook at RBC Capital... America Movil upgraded to Overweight from Equal Weight at Morgan Stanley... BNC Bancorp (BNCN) upgraded to Buy from Hold at Gabelli... Casella Waste (CWST) upgraded to Strong Buy from Outperform at Raymond James... Cenovus Energy (CVE) upgraded to Buy from Neutral at Goldman... Cracker Barrel (CBRL) upgraded to Buy from Neutral at SunTrust... D.R. Horton (DHI) upgraded to Buy from Hold at Zelman... Edison International (EIX) upgraded to Buy from Hold at Evercore ISI... First Financial Bancorp (FFBC) upgraded to Buy from Hold at Sandler O'Neill... Hartford Financial (HIG) upgraded to Overweight from Neutral at Atlantic Equities... Heartland Financial (HTLF) upgraded to Buy from Hold at Sandler O'Neill... MFA Financial (MFA) upgraded to Overweight from Neutral at JPMorgan... National General (NGHC) upgraded to Overweight at Morgan Stanley... Navios Maritime Partners (NMM) upgraded to Overweight from Neutral at JPMorgan... PG&E (PCG) upgraded to Buy from Hold at Evercore ISI... SBA Communications (SBAC) upgraded to Buy from Hold at Stifel... Sally Beauty (SBH) upgraded to Outperform from Perform at Oppenheimer... Sanmina (SANM) upgraded to Neutral from Sell at Citi... Scorpio Bulkers (SALT) upgraded to Overweight from Neutral at JPMorgan... Southern Company (SO) upgraded to Hold from Sell at Evercore ISI... Southern Copper (SCCO) upgraded to Overweight from Neutral at JPMorgan... Vodafone (VOD) upgraded to Buy from Hold at Jefferies.
05:40 EDTVODVodafone upgraded to Buy from Hold at Jefferies
Jefferies analyst Jeremy Dellis upgraded Vodafone to Buy with a price target of GBP 250.
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