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Stock Market & Financial Investment News

News Breaks
April 19, 2013
10:04 EDTAF, DXPE, SMS, NPTN, BBT, VRTX, EWBC, TEF, UBS, OSTK, MMS, TOL, EE, ETFC, AN, NOKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Astoria Financial (AF) upgraded to Market Perform from Underperform at Keefe Bruyette... Autonation (AN) upgraded to Hold from Sell at Deutsche Bank... E-Trade (ETFC) upgraded to Market Perform from Underperform at Keefe Bruyette... El Paso Electric (EE) upgraded to Buy from Hold at Jefferies... Maximus (MMS) upgraded to Outperform from Market Perform at Raymond James... Overstock.com (OSTK) upgraded to Buy from Underperform at BofA/Merrill... Toll Brothers (TOL) upgraded to Outperform from Market Perform at Keefe Bruyette... UBS (UBS) upgraded to Buy from Hold at Deutsche Bank... Vertex (VRTX) upgraded to Buy from Hold at Canaccord... Telefonica (TEF) upgraded at Bernstein... BB&T (BBT) upgraded to Buy from Neutral at Hilliard Lyons... East West Bancorp (EWBC) upgraded to Outperform from Market Perform at Keefe Bruyette... DXP Enterprises (DXPE) upgraded to Buy from Neutral at Ascendiant Capital... NeoPhotonics (NPTN) upgraded to Buy from Hold at Needham... Sims Metal (SMS) upgraded to Buy from Neutral at BofA/Merrill... Overstock.com (OSTK) upgraded at BofA/Merrill... Nokia (NOK) upgraded to Market Perform from Underperform at BMO Capital.
News For AF;AN;ETFC;EE;TOL;MMS;OSTK;UBS;TEF;EWBC;VRTX;BBT;NPTN;SMS;DXPE;NOK From The Last 14 Days
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September 9, 2014
07:17 EDTNOKThe Wireless Association to hold a conference
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06:42 EDTEWBCJury delivers verdict against East West Bank for damages of $38.91M
A jury in the case titled “F&F, LLC and 618 Investment, Inc. v. East West Bank,” Superior Court of the State of California for the County of Los Angeles delivered a verdict awarding F&F, LLC, damages of $38.91M of which $16.91M were compensatory and $22M were punitive damages, against East West Bank, which is a subsidiary of East West Bancorp. Any amounts ultimately payable at the conclusion of the litigation are expected to be reduced by $5M of damages previously paid to the plaintiff by a third party in related litigation not against East West Bank. F&F, LLC is the borrower on a construction loan made by East West Bank. Because this case has not been concluded, East West Bancorp intends to observe its policy of not commenting on pending litigation.
06:03 EDTTEFTelefonica to trial AT&T's connected home technology in Europe
AT&T (T) and Telefonica (TEF) last night announced plans for a limited trial of AT&T's home security and automation service in Europe. By licensing the AT&T Digital Life platform, Telefonica can offer trial users a wireless home automation platform all managed through an easy-to-use, web-based user interface. AT&T independently owns its platform, allowing for others to license a turnkey solution. AT&T Digital Life is an IP-based, all wireless, home security, smart automation and energy management solution, all contained in an easy-to-use mobile app. Telefonica is the first company to license AT&T's Digital Life platform.
September 8, 2014
11:29 EDTBBTBB&T to host investor day
Investor Day to be held in New York on September 11 at 9 am. Webcast Link
11:05 EDTVRTXOptions with increasing implied volatility
Options with increasing implied volatility: NPSP GILD VNET AVNR GTAT YHOO RHT VRTX SDRL COV MYL
09:17 EDTBBTBB&T to acquire Bank of Kentucky for $363M
BB&T (BBT) and The Bank of Kentucky Financial Corporation (BKYF) announced the signing of a definitive agreement under which BB&T will acquire The Bank of Kentucky in a cash and stock transaction for total consideration valued at approximately $363M. The Bank of Kentucky, headquartered in Crestview Hills, Ky., has $1.9 billion in assets, $1.6 billion in deposits and 32 banking offices in Northern Kentucky and Cincinnati. Under the terms of the agreement, which was approved by the Board of Directors of each company, shareholders of The Bank of Kentucky will receive 1.0126 shares of BB&T common stock and $9.40 of cash for each share of The Bank of Kentucky common stock. Based on BB&T's 14-day average closing price of $37.13 as of September 4, 2014, shareholders of The Bank of Kentucky will receive $47.00 per share BB&T expects this acquisition to be accretive to earnings per share in the first full year and to exceed its IRR hurdle. The transaction is subject to customary closing conditions including regulatory approvals and approval of The Bank of Kentucky shareholders.
08:09 EDTETFCE-Trade says August DARTs declined 5% from July
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07:35 EDTTEFAmazon mulls Fire phone UK exclusively deal with O2, FT says
In an effort to rival Apple (AAPL) and Samsung (SSNLF) in the premium smartphone industry, Amazon (AMZN) is in final-stage discussions to sell its new Fire smartphone exclusively through Telefonica’s (TEF) O2 throughout the UK, reported the Financial Times. Reference Link
07:24 EDTAFBarclays to hold a conference
Global Financial Services Conference to be held in New York on September 8-10.
September 5, 2014
10:05 EDTVRTXOn The Fly: Analyst Upgrade Summary
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07:18 EDTUBSRegulators drafting flexible 'bail in' bond deal for large banks, Reuters says
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06:22 EDTUBSUBS, Barclays postpone hiring due to stricter background checks, Bloomberg says
UBS (UBS) and Barclays (BCS) have decreased their job opportunities and postponed start dates in response to some banks strengthening background examinations, after past offenses increased the need for more investigative research on the behavior of individuals, according to Bloomberg, citing three people with knowledge of the situation. Reference Link
05:41 EDTVRTXVertex upgraded to Buy from Neutral at Goldman
Goldman Sachs upgraded Vertex Pharmaceuticals to Buy saying it sees a 90% probability of approval for the company's VX-809/Kalydeco combo for cystic fibrosis and a higher likelihood of M&A following the positive Phase 3 data in June. Goldman raised its price target for shares to $131 from $109.
September 4, 2014
07:02 EDTANAutonation reports August new vehicle sales up 7% to 32,660
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September 3, 2014
17:44 EDTTOLToll Brothers looks unattractive, Barron's says
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09:06 EDTBBTBB&T to acquire additional Texas branches from Citibank
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07:00 EDTNOKCredit Suisse recommends buying EMC, Nokia into 2H
Credit Suisse recommends buying EMC (EMC) and Nokia (NOK) into 2H. The firm believes EMC remains undervalued and sees different paths of value creation that include cash returns and a spin-off of VMware (VMW) and that Nokia will see 2H revenue growth following recent divestitures and recent contract momentum. Both are Outperform rated.
06:16 EDTTOLToll Brothers sees FY14 revenue $3.76B-$3.99B, consensus $3.84B
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06:14 EDTTOLToll Brothers sees Q4 home deliveries 1,710-1,910
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05:59 EDTTOLToll Brothers reports Q3 EPS 53c, consensus 45c
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