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Stock Market & Financial Investment News

News Breaks
April 10, 2013
13:04 EDTCIEN, FAST, ADTN, BRLI, FNSR, KMX, HMA, BIDU, TITNOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday following the unexpected early release of the minutes from the Fed's last rate setting meeting in March. The move higher has pushed the S&P above its all-time closing high, which was established last week, and has seen it set a new all-time intraday record as well. In addition to the Fed minutes, the President unveiled a budget proposal that calls for tough entitlement cuts, but those come paired with increased revenues, and China unexpectedly reported a trade deficit caused by higher than expected imports... ECONOMIC EVENTS: In the U.S., the Federal Reserve decided to release the minutes from it last Federal Open Market Committee meeting at 9:00 am ET, which was five hours earlier than scheduled, because they were leaked yesterday to trade groups and some members of Congress. The minutes showed continued discussion over the costs and benefits of the Fed's bond-buying program, with several members saying it would "probably be appropriate to slow purchases later in the year and to stop them by year-end." However, many on the Street noted that the minutes were for a meeting that occurred prior to last Friday's disappointing monthly jobs report. Also, President Obama sent a $3.77T spending plan to Congress in a bid to revive deficit-reduction talks. In China, a rare trade deficit of $880M was reported for March, as imports surged 14.1% from a year earlier, outpacing a 10% rise in exports. Also of note, the World Trade Organization slashed its forecast for global trade growth in 2013 to 3.3% from its prior call for 4.5% growth, and S&P revised its outlook on Cyprus to Stable from Negative... COMPANY NEWS: Earnings season picked up a little bit of steam, with reports from ADTRAN (ADTN) and CarMax (KMX) sending their shares higher, while Titan Machinery (TITN) and Fastenal (FAST) declined following their quarterly results announcements... MAJOR MOVERS: Among the notable gainers was Baidu (BIDU), which rose over 6% following an upgrade to Buy from Hold at 86 Research. Also trading higher were a number of ADTRAN's peers, including Finisar (FNSR), up nearly 7%, and Ciena (CIEN), up about 6%, following the telecommunication equipment provider's better than expected report. Among the noteworthy losers were Health Management Associates (HMA), which fell 17% after its preliminary view of its quarterly results fell short of expectations, and Bio-Reference Labs (BRLI), which slid 7% in an apparent delayed reaction to a "whistleblower" suit filed against it last week but widely circulated today... INDICES: Near 1 pm ET, the Dow was up 147.54, or 1.01%, to 14,821.00; the Nasdaq was up 58.03, or 1.79%, to 3,295.89; and the S&P 500 was up 19.43, or 1.24%, to 1,588.04.
News For ADTN;TITN;KMX;FAST;BIDU;FNSR;CIEN;HMA;BRLI From The Last 14 Days
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February 27, 2015
08:11 EDTCIENCiena March weekly volatility elevated into Q1 and outlook
Ciena March weekly call option implied volatility is at 76, April is at 49, July is at 40; compared to its 26-week average of 43 according to Track Data, suggesting larger near term price movement into the expected release of Q1 results before the open on March 5.
February 25, 2015
08:36 EDTBRLIBio-Reference Labs launches OnkoSight tumor sequencing program
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February 23, 2015
10:36 EDTBIDUBaidu calls active amid renewed takeover speculation
Baidu February weekly 210 and 212 calls are active on total call volume of 7K (1K puts) amid renewed takeover speculation. February weekly call option implied volatility is at 29, March is at 26, April is at 27; compared to its 26-week average of 33 according to Track Data. Active call volume suggests traders taking positions for large near term price movement.
10:31 EDTBIDURumor: Baidu moves higher amid renewed takeover speculation
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February 22, 2015
11:39 EDTADTNADTRAN announces retirement of CFO James Matthews
ADTRAN announced the retirement of its CFO, James Matthews. Matthews’ retirement as SVP – Finance, CFO, Treasurer and Secretary of the company will be effective March 16. Matthews’ retirement as a Director will take effect with the company’s Annual Meeting on May 13; he will not stand for reelection. Matthews is retiring in order to spend time with his family. The company also announced that the Board has elected Michael Foliano, SVP – Global Operations, to the position of Interim CFO. Foliano will assume these responsibilities upon the effectiveness of Matthews’ resignation and will work with Matthews in transitioning these responsibilities until and after that date.
February 18, 2015
09:01 EDTCIENCiena names Marcus Starke as Chief Marketing Officer
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February 17, 2015
09:40 EDTBIDUActive equity options trading on open
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05:31 EDTADTNADTRAN receives extension of TL 9000 certification in R&D facility
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