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Stock Market & Financial Investment News

News Breaks
April 19, 2013
10:04 EDTARUN, GASS, CHDN, ADBE, SZYM, WCG, SIX, COG, AAPL, SXCP, MITL, AMPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Adobe (ADBE) initiated with a Buy at B. Riley... Ameriprise (AMP) initiated with a Buy at Citigroup... Cabot Oil & Gas (COG) initiated with an Outperform at Wells Fargo... Churchill Downs (CHDN) initiated with an Outperform at Wells Fargo... Mitel (MITL) initiated with a Sector Perform at RBC Capital... Six Flags (SIX) initiated with an Outperform at Credit Suisse... StealthGas (GASS) initiated with a Buy at Jefferies... SunCoke Energy (SXCP) initiated with an Outperform at Wells Fargo... WellCare (WCG) initiated with a Hold at Jefferies... Aruba Networks (ARUN) initiated with a Buy at Cleveland Research... Apple (AAPL) initiated with a Buy at Standpoint Research... Solazyme (SZYM) coverage assumed with an Overweight at Morgan Stanley.
News For ADBE;AMP;COG;CHDN;MITL;SIX;GASS;SXCP;WCG;ARUN;AAPL;SZYM From The Last 14 Days
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November 13, 2014
16:03 EDTAAPLOptions Update; November 13, 2014
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13:28 EDTAAPLBlackBerry hits 52-week high after unveiling partnerships
Shares of BlackBerry (BBRY) hit a new 52-week high after the company announced three new partnership deals. The company is slated to hold its analyst day today, starting at 3:30 PM ET. WHAT'S NEW: BlackBerry announced that it would partner with Samsung to provide a security solution for the South Korean company's mobile devices that utilize Google's (GOOG) Android operating system. Under the deal, BlackBerry’s BES12, an Enterprise Mobility Management system, or EMM that was launched today, will be integrated with some of Samgung's Galaxy smartphones and tablets. BES 12 "securely manages devices from all of the major enterprise mobile platforms" and "will help organizations securely connect employees with each other and with the corporate information and machines” they need, BlackBerry stated. Also today, Blackberry announced that it would connect its EMM solutions to Salesforce's (CRM) top customer relationship management platform. "This agreement will allow Salesforce and BlackBerry joint customers to run their businesses from their phone while complying with specific industry regulations," said Vivek Kundra, a Salesforce Executive Vice President in a statement. "BlackBerry has an excellent reputation in security and networks, and when matched with the Salesforce Customer Success Platform, public sector organizations can use their mobile devices to connect with customers in a whole new way," added Kundra. Finally, BlackBerry announced that Brightstar would distribute BES 12. BlackBerry described Brightstar as "the world's largest wireless distribution company and leader in services for the wireless industry." WHAT'S NOTABLE: BES12 is expected to compete with Apple (AAPL) in the enterprise space. Apple earlier this year announced that it was partnering with IBM (IBM) in an effort to sell more products to corporate customers. PRICE ACTION: In mid-afternoon trading, BlackBerry jumped 6% to $11.95. Earlier today the shares set a new 52-week high of $12.05.
11:13 EDTAAPLApple hits 52-week high after Bernstein says margins could climb
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09:40 EDTARUN, AAPLActive equity options trading
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08:01 EDTAAPLApple price target raised to $120 from $110 at Bernstein
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08:01 EDTAAPLCalpian says deploys Apple Pay for merchants
Calpian, Inc. (CLPI) has successfully enabled Apple Pay (AAPL) for its merchant customers as they respond to growing consumer interest in the new mobile payment service.
06:39 EDTAAPLApple's rumored iPad Pro delayed to 2Q15, AppleInsider reports
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06:23 EDTAAPLChipmakers in Apple Watch supply chain to start production, DigiTimes reports
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06:07 EDTAAPLApple paying little in iTunes taxes outside North America, AFR reports
According to a report from The Australian Financial Review, which cites an investigation led by the International Consortium of Investigative Journalists, more than two-thirds of the money Apple’s iTunes makes outside North America goes through the group’s Luxembourg holding company where it is not taxable. Apple has been widely criticized for its tax practices in Europe. Reference Link
06:01 EDTCHDNChurchill Downs to host conference call
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November 12, 2014
16:35 EDTCHDNChurchill Downs to acquire Big Fish Games
Churchill Downs and Big Fish Games announced they have entered into a definitive merger agreement under which CDI will acquire all of the outstanding stock and equity interests of the privately held Big Fish.The transaction is structured on a cash-free/debt-free basis and is valued at up to $885M, including a base consideration of $485M and a potential earn-out payment of up to $350M based on 2015 Adjusted EBITDA, and a potential bonus payment to the founder and current CEO of Big Fish, Paul Thelen, of $50M based on 2016 bookings. The purchase price will be paid in cash, except for approximately $15M paid in CDI common stock to Paul Thelen. The merger, which has been approved by the Boards of Directors of both companies, is conditioned upon receipt of required regulatory approvals and other customary closing conditions. Subject to the satisfaction of these conditions, the transaction is expected to close by the end of the year.
16:12 EDTMITLShoreTel board rejects Mitel's proposal of $8.50 per share
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16:00 EDTAAPLOptions Update; November 12, 2014
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11:44 EDTSIXSeaWorld sinks to 52-week low after Q3 profit, attendance fall
Shares of theme park and entertainment company SeaWorld (SEAS) are plunging after the company’s profit, attendance and adjusted EBITDA all fell significantly on a year over year basis. The also forecast fiscal year 2014 revenue and adjusted EBITDA to be down from last year. WHAT'S NEW: This morning, SeaWorld reported Q3 adjusted earnings per share of $1.01, missing analysts' $1.13 consensus by 12 cents. Revenue for the quarter was $495.84M, compared to analysts' consensus estimates of $495.4M. Adjusted EBITDA in the quarter was $209.1M, a decrease of $45.3M, or 18%, compared to the third quarter of 2013. Attendance in Q3 ws 8.4M, down from 8.9M a year ago. The company believes the decline in attendance results from a combination of factors including negative media attention in California along with a challenging competitive environment, particularly in Florida. The competitive challenges in Florida relate to significant new attraction offerings at competitor destination parks, along with a delay in the scheduled opening of one of the company's new rides at its Busch Gardens Tampa park. The decrease in total revenue in the third quarter was primarily driven by a 5.2% decline in attendance, along with a 2.9% decline in total revenue per capita from $60.74 in the third quarter of 2013 to $58.99. WHAT’S NOTABLE: Looking ahead, SeaWorld forecast FY14 revenue and adjusted EBITDA to be down 6%-7% and 14%-16%, respectively. The FY14 revenue consensus ahead of the company's report was $1.37B. The company also said it expects to take a restructuring charge of up to $13M in Q4 related to its cost reduction initiatives. The company sees FY14 capital expenditures to be in the range of $155M-$165M and fiscal year 2015 CapEx to be in the range of $185M-$195M. Jim Atchison, the company's Chief Executive Officer, noted that the attendance trends the company experienced in the latter part of the second quarter continued into Q3. He called 2014 a “challenging year,” and said the company was executing a cost savings plan that is expected to deliver approximately $50M of annual cost savings by the end of 2015. He also said the company was adjusting its attraction and marketing plans to address immediate top-line concerns. PRICE ACTION: In late morning trading, SeaWorld fell $2.24, or 12.04%, to $16.36 on more than twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $16.53. Including today's pull back, the shares have lost approximately 48% over the past 12 months. OTHERS TO WATCH: Other companies in the theme park space include Disney (DIS), up 0.03%, Six Flags (SIX), down 0.16%, and Cedar Fair (FUN), up 0.76%.
09:37 EDTAAPLActive equity options trading
Active equity options trading according to Track Data: AAPL CLSN TWTR BABA NFLX TSLA AMZN CSIQ C
08:37 EDTARUNAruba Networks shares should be bought into earnings, says Pacific Crest
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08:12 EDTMITLMitel announces partnership with IPVALUE
Mitel has selected IPVALUE Management as its partner to commercialize its patent portfolio. Under the multi-year agreement, IPVALUE will be responsible for originating and executing transactions related to patent licensing and sales across Mitel's entire portfolio worldwide.
07:48 EDTSIXWells Fargo to hold a conference
5th Annual Technology, Media & Telecom Conference is being held in New York on November 12-13.
07:31 EDTCOGBofA/Merrill to hold a conference
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06:36 EDTAAPLOrder visibility highest for Apple, Lenovo shipments in 2015, DigiTimes says
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