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Stock Market & Financial Investment News

News Breaks
October 5, 2012
10:15 EDTADP, PBY, WAL, TMO, OI, INFA, FDO, FIS, DLTR, GPSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Automatic Data Processing (ADP) upgraded to Buy from Neutral at Goldman... Dollar Tree (DLTR) upgraded to Outperform from Neutral at Credit Suisse... FIS (FIS) upgraded to Outperform from Neutral at RW Baird... Family Dollar (FDO) upgraded to Outperform from Neutral at Credit Suisse... Informatica (INFA) upgraded to Buy from Neutral at Nomura... Owens-Illinois (OI) upgraded to Buy from Neutral at Goldman... Thermo Fisher (TMO) upgraded to Outperform from Market Perform at Wells Fargo... Western Alliance (WAL) upgraded to Outperform from Market Perform at Keefe Bruyette... Pep Boys (PBY) upgraded to Buy from Hold at Benchmark Co. Gap (GPS) upgraded to Buy from Above Average at Caris.
News For ADP;DLTR;FIS;FDO;INFA;OI;TMO;WAL;PBY;GPS From The Last 14 Days
Check below for free stories on ADP;DLTR;FIS;FDO;INFA;OI;TMO;WAL;PBY;GPS the last two weeks.
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September 4, 2014
18:28 EDTGPSOn The Fly: After Hours Movers
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16:05 EDTGPSGap falls in extended session trading, levels to watch
The stock is down after hours by 3.6% to $44.88. At that price next support is at $43.38. Resistance is at $45.43.
16:03 EDTGPSGap falls 3.7% after announcing August SSS drop, likely gross margin pressure
16:02 EDTGPSGap reports August SSS down 2%
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10:29 EDTOIOn The Fly: Analyst Initiation Summary
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10:29 EDTINFAOn The Fly: Analyst Downgrade Summary
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09:10 EDTINFABarclays' top ideas in U.S. Software for 2H 2014
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08:07 EDTINFAInformatica resumed with a Sector Perform at Pacific Crest
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06:33 EDTOIOwens-Illinois initiated with an Outperform at BMO Capital
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05:31 EDTINFAInformatica downgraded to Equal Weight from Overweight at Barclays
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September 3, 2014
14:49 EDTFDOIchan exits Family Dollar position with $200M profit, Reuters says
Carl Icahn, who became Family Dollar's largest shareholder just this June, has now sold his entire stake for a profit of about $200M, according to Reuters, citing sources familiar with the matter. Reference Link
14:33 EDTFDOIcahn sold entire Family Dollar stake, Reuters says
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07:32 EDTFISFIS to acquire Clear2Pay for approximately EUR375M
FIS has signed a definitive agreement to acquire Brussels-based Clear2Pay. Upon closing, the addition of Clear2Pay will bolster FISí global payments capabilities across all geographies through the addition of new payments managed services and payments processing utilities that will enhance its abilities to deliver differentiated enterprise payments solutions. Upon closing, FIS will pay approximately EUR375M to acquire 100% ownership interest in Clear2Pay. FIS expects the acquisition will be neutral to adjusted EPS in 2014. The transaction is subject to regulatory approvals and contractual closing conditions. FIS expects the transaction to close during the fourth quarter.
September 2, 2014
16:25 EDTDLTR, FDOOn The Fly: Closing Wrap
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12:09 EDTFDO, DLTROn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq clinging to narrow gains and the Dow and S&P both down about 0.25%. Stocks began the session basically unchanged but turned mixed within minutes of the open. The volume has been light and the market has moved in a narrow range, continuing the type of pattern that was seen all of last week ahead of the holiday. ECONOMIC EVENTS: In the U.S., Markit's final manufacturing PMI for August dipped slightly from the flash print of 58.0 to 57.9, but that was up from July's 55.8 reading. ISM's manufacturing index for August climbed to 59.0 from 57.1 in July, beating expectations. Construction spending bounced back 1.8% in July, beating expectations for it to have risen 1.0% after declining in the prior month. In Asia, HSBC's final manufacturing PMI for China edged down to 50.2 from the preliminary 50.3 August reading, which was already down from the 51.7 report in July. The Chinese government's official purchasing managers index came in at 51.1 for August, which was down from its 51.7 reading in July. In Europe, the Eurozone's final manufacturing PMI for August was revised down to 50.7 from 51.8 in the preliminary reading. COMPANY NEWS: Apple (AAPL) was in the headlines following a celebrity photo hack involving several of its iCloud accounts. Despite the negative publicity from those events, the stock gained nearly 1% after noted Piper Jaffray analyst Gene Munster raised his price target on the tech giant's shares to $120 from $105, citing the upcoming launch of new products and services. Another firm, Cantor, said in its own note to investors that it believes that Apple will have its most exciting product launches "in many years" over the next few months... In M&A news, Dollar General (DG) rose almost 1% after increasing its all-cash proposal to buy Family Dollar (FDO) to $80.00 per share and also increasing the number of stores that it would be willing to agree to divest to 1,500 if ordered by the FTC. Shares of Family Dollar, which previously rejected Dollar General's prior proposal on the basis of antitrust regulatory concerns, traded above the new offer price, while Dollar Tree (DLTR), which currently has a merger agreement deal in place with Family Dollar, also gained 1.5%. MAJOR MOVERS: Among the notable gainers were two other companies involved in M&A, one which was a buyer and one which was bought. Norwegian Cruise Line (NCLH) advanced 12% after agreeing to acquire upscale peer Prestige Cruises for $3.03B, while Compuware (CPWR) rose over 12% after the company confirmed it agreed to be acquired by private equity investment firm Thoma Bravo in a transaction valued at approximately $2.5B. Among the noteworthy losers was Exelixis (EXEL), which plunged 53% after its phase 3 pivotal trial of cabozantinib in certain men with metastatic castration-resistant prostate cancer did not meet its primary endpoint and the stock was downgraded by at least three Street research firms. Also lower was lease-to-own retailer CONN'S (CONN), which dropped 30% and was downgraded at Piper Jaffray after weakness in its credit operations prompted a Q2 earnings miss and caused the company to cut its fiscal year guidance. INDEXES: Near midday, the Dow was down 43.58, or 0.25%, to 17,054.87, the Nasdaq was up 2.97, or 0.06%, to 4,583.24, and the S&P 500 was down 4.83, or 0.24%, to 1,998.54.
09:35 EDTGPSGap identified as top pick at Sterne Agee
Sterne Agee identified Gap as its best pick for 2H14, as the firm sees multiple drivers of improved operating performance and stock price gains for the company. Among these drivers are easy compares and company specific initiatives, according to the firm. It raised its price target on the stock to $52 from $50 and sees its risk/reward ratio as very compelling.
08:36 EDTFDO, DLTRFamily Dollar confirms receipt of revised unsolicited proposal from Dollar General
Family Dollar Stores (FDO) confirmed that it has received a revised, non-binding, unsolicited proposal from Dollar General (DG) to acquire all of the outstanding common shares of Family Dollar. Consistent with its fiduciary duties and subject to the terms of its existing merger agreement with Dollar Tree (DLTR), Family Dollarís Board of Directors, in consultation with its legal and financial advisors, will review and consider the revised proposal. The company's Board of Directors has not changed its recommendation in support of the merger with Dollar Tree. Family Dollar will have no further comment on Dollar Generalís proposal until the Board has completed its review.
06:16 EDTFDODollar General increases proposal to board of Family Dollar to $80 per share
Dollar General (DG) announced that it has sent an enhanced acquisition proposal to the board of Family Dollar Stores (FDO). Under the terms of the revised proposal, Dollar General would increase its all-cash proposal for all outstanding shares of Family Dollar to $80.00 per share. Dollar General also increased the number of stores that it would be willing to agree to divest to 1,500 if ordered by the FTC, as further evidence of its confidence in its ability to obtain antitrust approval, has agreed to pay a $500M reverse break-up fee to Family Dollar relating to antitrust matters. All other terms and conditions of the proposal remain unchanged. Dollar Generalís revised proposal provides Family Dollarís shareholders with approximately $640M of additional aggregate value over Dollar Treeís offer and represents a premium of 31.9 percent over the closing price of $60.66 for Family Dollar stock on the day prior to the Dollar Tree announcement. In addition, Dollar General has engaged additional counsel, Boies, Schiller & Flexner LLP, to independently review its antitrust work. The independent review validated Dollar Generalís analysis that the proposed transaction can be completed on the terms previously proposed.
06:04 EDTFDO, DLTRDollar General to raise offer for Family Dollar to $80/share, CNBC reports
Dollar General (DG) is going to raise its all-cash bid for Family Dollar (FDO) to $80 per share or around $9.1B, CNBC's Andrew Ross Sorkin reports, citing sources. Dollar General is willing to sell up to 1,500 stores if required by the FTC under the new offer, Sorkin adds. Family Dollar has continued to recommend a merger with Dollar Tree (DLTR). Reference Link
06:01 EDTFDODollar General raises offer for Family Dollar to $80/share, CNBC reports
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