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Stock Market & Financial Investment News

News For PRO;PM;ZMH;CMCSA;MOH;UTIW;GRPN;PL;AHS;MDU;WU;NNA;IRWD;BPL From The Last 14 Days
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July 17, 2015
06:13 EDTCMCSAHulu considering ad-free option, WSJ reports
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July 16, 2015
19:17 EDTMOHAffordable Care Act plan prices to increase 11.2% in 2016, WSJ says
State regulators will begin approving plan price increases for insurance plans purchased on Care Actís exchanges as early as this month, reports the Wall Street Journal. Nearly every state has plans with premiums increasing over 10%, with some as high as 30%-50%, the Journal adds. Publicly traded companies in the space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). Reference Link
15:12 EDTGRPNGroupon acquires OrderUp
Groupon announced the acquisition of OrderUp, an on-demand online and mobile food ordering and delivery marketplace operating in nearly 40 markets across the United States. "Online food ordering and delivery represents an untapped opportunity for Groupon and serves as a natural extension of our local marketplace," said Groupon CEO Eric Lefkofsky. "The potential in delivery and takeout is apparent -- especially with the growth of mobile -- and OrderUpís operational ability, coupled with Grouponís engaged customer and merchant base, bring tremendous scale to the space."
12:12 EDTPMOn The Fly: Top stock stories at midday
Stocks began the session in positive territory after Greece's Parliament approved austerity measures that should pave the way for the country to receive a new bailout package. With earnings season gaining steam and the situations in Greece and China appearing more stable in recent days, the S&P and Nasdaq are back within striking distance of their all-time highs. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped to 281,000 in the week ended July 11, versus expectations for 285,000 first-time claims. The NAHB homebuilder sentiment index for July came in at 60, a point better than forecast. The Philly Fed business outlook index dropped 9.5 points to 5.7 in July, falling short of the 12.0 reading that was expected. In Europe, Greek lawmakers passed the country's austerity agreement and Euro-area finance ministers also reportedly agreed in principle to extend a $7.6B bridge loan to Greece. The loan, which will come from the European Financial Stabilization Mechanism, should help keep Greece afloat while Prime Minister Alexis Tsipras negotiates the details of the country's three-year bailout. COMPANY NEWS: Netflix (NFLX) rallied 16% and hit a split-adjusted all-time high of $114.45 per share after the streaming service operator reported stronger than expected second quarter results, including higher than expected Q2 subscriber metrics, prompting a large number of research firms to raise their price targets on the stock... The third-largest U.S. bank, Citigroup (C), posted second quarter profit, excluding adjustments and one-time items, of $1.45 per share, beating the $1.34 average estimate of analysts. Goldman Sachs (GS) reported Q2 earnings per share of $1.98, which fell far short of the consensus forecast of $3.89. However, the firm recorded $1.45B in net provisions for litigation and regulatory matters, which reduced EPS for the quarter by $2.77. Goldman Chairman and CEO Lloyd Blankfein said the bank was "pleased" with its quarterly performance, adding that while "uncertainty in the EU" weighed on investorsí conviction, many of its businesses continued to benefit from generally improving economic conditions. Citi shares rose 3.5% following its report, while Goldman shares slipped a bit more than 1.5%... eBay (EBAY), which is set to split from PayPal (PYPL) in just a few days, reported better than expected earnings for the still-combined company. eBay also announced an additional $1B stock repurchase authorization, bringing its total buyback allowance to $3B, and confirmed it reached a deal to sell eBay Enterprise to a consortium consisting of Sterling Partners, Permira Funds and others for $925M. MAJOR MOVERS: Among the notable gainers was Amira Nature Foods (ANFI), which advanced 16% after the company reported earnings and said it sees "double-digit" revenue growth in its new fiscal year. Also higher was Philip Morris (PM), which gained 3% after reporting better than expected earnings and revenue, excluding certain items. Among the noteworthy losers was Rovi (ROVI), which dropped 16.5% after Netflix was granted a motion of summary judgment invalidating all five of the remaining Rovi patents that were being contested in litigation between the companies. Also lower was Garmin (GRMN), which fell 9% after reporting preliminary Q2 earnings that fell short of expectations, citing the negative impact of currency movements and a "more promotional pricing environment" in the fitness segment. INDEXES: Near midday, the Dow was up 35.47, or 0.2%, to 18,085.64, the Nasdaq was up 54.08, or 1.06%, to 5,153.02, and the S&P 500 was up 14.10, or 0.67%, to 2,121.50.
10:45 EDTCMCSANetflix price targets soar as Bernstein stays bearish
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09:55 EDTCMCSARovi trial loss immaterial to estimates, says Piper Jaffray
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09:08 EDTPMOn The Fly: Pre-market Movers
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09:00 EDTPMAltria expands strategic framework with Philip Morris for e-vapor products
Altria (MO) announced that it is expanding its strategic framework with Philip Morris International (PM) to include a joint research, development and technology-sharing agreement. Under the agreement, Altria and PMI will collaborate to develop e-vapor products for commercialization in the United States by Altria and in markets outside the United States by PMI. The Agreement also provides for exclusive technology cross licenses, technical information sharing and cooperation on scientific assessment, regulatory engagement and approval related to e-vapor products.
07:13 EDTPMPhilip Morris, Swedish Match to dissolve smokeless JV
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07:06 EDTPMPhilip Morris CEO says Q2 results 'very solid'
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07:04 EDTPMPhilip Morris sees being near high end of FY15 adjusted EPS growth of 9%-11%
PMI reaffirms its FY15 reported diluted EPS forecast of $4.32-$4.42, at prevailing exchange rates. On an adjusted basis, diluted EPS are projected to increase in the range of 9%-11% versus adjusted diluted EPS of $5.02 in 2014, with PMI anticipating that its currency-neutral adjusted diluted EPS growth rate will be towards the upper end of 9%-11%. Consensus $4.41. "While currency headwinds remain stubbornly high, we are ever focused on the prudent management of cash flow. We are committed to returning around 100% of our free cash flow to shareholders, said CEO Andre Calantzopoulos.
07:01 EDTPMPhilip Morris reports Q2 adjusted EPS $1.21, consensus $1.13
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06:31 EDTGRPNBlue Calypso announces favorable 'Markman' rulings at District Court
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05:56 EDTCMCSANetflix ruling irrelevant to Rovi contract renewals, says B. Riley
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05:52 EDTCMCSARuling in Netflix case a negative for Rovi, says JPMorgan
JPMorgan analyst Sterling Auty says court filings released after yesterday's market close indicate Netflix (NFLX) was granted a motion of summary invalidating all five of the remaining Rovi (ROVI) patents that were being contested. Auty expects Rovi to sell off on the news as investors consider what the ruling may do to the company's upcoming contract renewals with Comcast (CMCSA), Time Warner Cable (TWC), DirecTV (DTV) and DISH (DISH). The "big 4" choosing to litigate against Rovi is "certainly a possibility," but the companies have bigger patent infringement exposures than an over-the-top vendor like Netflix, Auty writes in a research note. He keeps a Neutral rating on Rovi.
July 15, 2015
18:08 EDTMOHMolina Healthcare to acquire Medicaid assets of MyCare Chicago
Molina Healthcare and Accountable Care Chicago, also known as MyCare Chicago, jointly announced that Molina Healthcare of Illinois, a wholly owned subsidiary of Molina Healthcare, has entered into a definitive agreement to acquire certain assets of the Medicaid business of MyCare Chicago. As a part of the transaction, Molina Healthcare of Illinois will receive the right to assume MyCare Chicagoís Medicaid members in Cook County, Illinois, as well as certain assets related to the operation of the Medicaid business. Molina Healthcare of Illinois will fund the transaction with available cash on hand. Subject to regulatory approvals and the satisfaction of other closing conditions, the closing of the transaction is expected to occur during Q4.
14:53 EDTPMNotable companies reporting before tomorrow's open
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13:42 EDTPMPhilip Morris technical comments before earnings
On a long-term chart the shares have been in a slow, stable, decline since hitting a peak of price in April 2013. That trend has moderated somewhat in recent months, leaving shares range-bound. That range seen in a long-term view is the bearish price channel since 2013. In a closer short-term view, there is quite a bit of volatility within the channel bounds. If the news is bearish, a key level to watch on the downside is the 52-week low at $75.27. A breakdown below that level would see the downtrend accelerate. If the news is a bullish surprise, a trade up to the top of the long-term channel at the $87 area would be the level to watch. An eventual breakout post-earnings above that area would turn the trend toward bullish with next resistance at $87.92.
08:21 EDTIRWDSynergy upside largely dependent on buyout, says Citi
Citi doubled its price target for Synergy Pharmaceuticals (SGYP) to $12 from $6 but cautions that upside from current levels is likely dependent on a potential takeout. The firm sees raised expectations into the new the data readout for plecanatide. The drug's effectiveness in chronic idiopathic constipation looks fairly similar to Ironwood's (IRWD) Linzess, Citi tells investors in a research note. It keeps a Buy rating on Synergy.
07:23 EDTMOHCentene upgraded to Buy from Hold at Jefferies
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