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Stock Market & Financial Investment News

News Breaks
July 21, 2014
09:10 EDTHAS, YUM, VRX, EGAS, RAI, AGN, PETS, HAL, GPRO, MO, EMC, MCD, EXTR, KNDI, LO, TSLAOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
News For AGN;TSLA;EMC;RAI;LO;MO;EGAS;KNDI;GPRO;VRX;EXTR;HAL;YUM;MCD;PETS;HAS From The Last 14 Days
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June 23, 2015
13:37 EDTGPROOn The Fly: Top stock stories at midday
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11:39 EDTTSLAStocks with call strike movement; TSLA MU
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10:23 EDTGPROAmbarella jumps after analyst says buy after big selloff
The shares of Ambarella (AMBA) are rising after research firm Canaccord defended the stock in the face of a highly negative report on the company by short-selling blog Citron Research. The company develops processors used in high definition cameras. BACKGROUND: In an article published last Friday on its website, Citron called Ambarella's valuation "ridiculous," given the competition the company is facing and the lack of demand for its products in certain areas such as security. According to Citron, Ambarella's stock is worth about $30 per share, versus its current price of around $104. After the article was published, Ambarella's stock tumbled about 26% before today's open. ANALYST REACTION: In a note to investors earlier today, Canaccord analyst Matthew Ramsay wrote that the technological advantages of Ambarella's chips are enabling it to gain market share and design wins, as well as making its current customers more likely to continue using its products. Specifically, Ambarella's processors offer significantly better video quality, compression efficiency and lower power than those of its competitors, the analyst believes. These advantages will become more meaningful when new video technologies become more prevalent, Ramsay wrote. Additionally, Ambarella should benefit from the increased proliferation of drone cameras and security cameras, which together should significantly boost the company's results, the analyst believes. The company's earnings can reach $5 per share in fiscal 2017, predicted the analyst, who contended that Citron's report is "largely void of well-researched content." He kept a $115 price target and Buy rating on the shares. PRICE ACTION: In early trading, Ambarella climbed $9.30, or 10%, to $104. WHAT’S NOTABLE: Ambarella’s chips are in GoPro’s (GPRO) HERO action camera line. After selling off yesterday, shares of GoPro are up $1.47 to $56.39 in early trading. JMP Securities analyst Alex Gauna this morning raised his earnings estimates for GoPro to reflect the company’s second half of 2016 entry into the “booming” drone market. He kept a $105 price target for the shares.
09:20 EDTVRXValeant and Progenics announces submission of NDA to FDA for RELISTOR
Valeant Pharmaceuticals International (VRX) and Progenics Pharmaceuticals (PGNX) announced that Valeant submitted a New Drug Application, or NDA, to the FDA for RELISTOR, or methylnaltrexone bromide, Tablets for the treatment of opioid-induced constipation in adult patients with chronic non-cancer pain.
08:03 EDTMOAltria Group reaffirms FY15 adjusted EPS view $2.75-$2.80, consensus $2.80
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07:59 EDTGPROJMP raises GoPro estimates amid 'booming' drone market
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07:25 EDTVRXPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
June 22, 2015
18:22 EDTGPROGoogle offers sign-ups to test GoPro virtual reality prototype
Google (GOOG) has created a sign-up page to allow "creators" -- taken to mean video content creators -- to test its "Jump" virtual reality platform. Jump uses 16 GoPro (GPRO) cameras to create virtual reality video "that you can step inside of." Content creators selected by Google will get access to the platform beginning this summer. Reference Link
16:00 EDTTSLAOptions Update; June 22, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 17.45. Option volume leaders: AAPL FB BAC CHK WMB BABA TWTR MU AMBA TSLA JPM
15:22 EDTGPROGoPro volatility stays low on wide price movement
GoPro June weekly call option implied volatility is at 45, July is at 44, October is at 45; compared to its 52-week range of 39 to 58, suggesting decreasing near term price movement.
12:18 EDTTSLATesla volatility low after saying Model 3 'remains on schedule'
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11:55 EDTGPROAmbarella selloff continues following short seller report
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11:44 EDTGPROGoPro hits session lows, nears important support test
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11:33 EDTTSLATesla off lows after saying Model 3 'remains on schedule'
Shares of Tesla are off their lows after the company told Bloomberg that production of the $35,000 Model 3 "remains on schedule." The comment comes after website Inside EVs reported yesterday that production of the lower priced model was pushed back to 2018. The Model 3 will reach full production in 2018, but production will start in 2017, the electric car maker told Bloomberg in an emailed statement. Shares of Tesla are down $2.51 to $260.00 in morning trading. The stock fell as low as $255.69 today.
11:17 EDTTSLATesla spokesperson says Model 3 'on schedule,' Bloomberg reports
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10:06 EDTTSLATesla delays Model 3 launch to 2018, InsideEVs reports
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09:48 EDTTSLATesla's need for cash and high stock price may be risky, WSJ reports
Tesla may be raising more money while it can after taking out a revolving credit agreement with several major banks, reports the Wall Street Journal. Current Finance Chief Deepak Ahuja's successor will likely make use of the new funding as the company's CapEx have often outpaced its operating cash flow. But if the Model X launch stumbles, the cash burn could exceed $1.5B and may end 2015 with less than $1B in available liquidity in a gloomier scenario. Reference Link
June 19, 2015
16:24 EDTAGNStocks end week higher after Fed reassures on gradual pace of rate increases
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07:50 EDTTSLATesla wins $15M tax break from California, L.A. Times reports
Tesla Motors has won a $15M tax break from the state of California, the L.A. Times reports. The California Governor’s Office of Business and Economic Development voted to include the auto maker among more than 60 companies that will share in an almost $50M tax break package, the report says. Tesla said it will use the money to add over 4,000 new jobs to its Bay Area factories and plants, enough jobs to make it the largest manufacturing employer in the state of California, the L.A. Times says. Reference Link
07:14 EDTRAIReynolds American reinstated with an Overweight at Barclays
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