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Stock Market & Financial Investment News

News Breaks
December 11, 2012
16:24 EDTFDO, CASY, LINTA, CLWR, WBMD, TRIP, AIG, DG, TNS, SOn The Fly: Closing Wrap
Stocks on Wall Street finished up on the day, though off their highs after a modest sell-off across the averages in the last hour of trading. House Speaker John Boehner spoke at midday and his comments did little to move the averages. A comment from Senate Majority Leader Harry Reid later in the afternoon, suggesting a solution to the fiscal cliff would not be reached before Christmas, dented the market a bit more than Boehner's press conference did, but not much... ECONOMIC EVENTS: In the U.S., the NFIB Small Business Optimism Index dropped 5.6 points to 87.5 in November, which was a steeper fall than forecast. The U.S. trade deficit widened to $42.2B in October from $41.5B a month earlier. Wholesale inventories increased 0.6% in October, versus expectations for an increase of 0.4%. The Job Openings & Labor Turnover report showed job openings rose 128K in October to 3.675M... COMPANY NEWS: The Treasury announced last night it was selling its remaining 234.2M share stake in American International Group (AIG), sending AIG up $1.90, or 5.70%, to $35.26 in today's session... CNBC's David Faber reported Sprint (S) is in active talks to acquire the 49% stake in Clearwire (CLWR) that it does not already own. Shares of Clearwire rose 28c, or 11.67%, to $2.68 following the report... Tripadvisor (TRIP) rose $2.52, or 6.56%, to $40.91 after Liberty Interactive (LINTA) acquired voting control of the travel site by purchasing 4.8M shares from media mogul Barry Diller for $62.50 per share. Following the transaction, Liberty owns 22% of TripAdvisor's equity but controls 57% of the voting power in the company... MAJOR MOVERS: Among the notable gainers were TNS (TNS), up $6.20, or 42.58%, to $20.76 after agreeing to be acquired by Siris Capital for $21 per share, and WebMD (WBMD), up $1.61, or 11.62%, to $15.46 after the company announced actions to cut operating expenses including workforce reductions. Also higher were shares of Casey's General Stores (CASY), up $2.66, or 5.48%, to $51.20 after the company reported in-line earnings and said it was evaluating strategic alternatives to maximize shareholder value, including the potential for restructuring as a REIT. Among the noteworthy losers was Dollar General (DG), down $3.63, or 7.79%, to $42.94 after its earnings report and guidance. Also lower were shares of peer Family Dollar (FDO) down $5.90, or 8.36%, to $64.68 following a downgrade to Neutral at JPMorgan and on read through from Dollar General's report... INDICES: The Dow was up 78.56, or 0.60%, to 13,248.44; the Nasdaq was up 35.34, or 1.18%, to 3,022.30; and the S&P 500 was up 9.29, or 0.65%, to 1,427.84.
News For AIG;CLWR;S;TRIP;LINTA;TNS;WBMD;CASY;DG;FDO From The Last 14 Days
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April 9, 2015
12:14 EDTSSprint store announcement a positive, says Wells Fargo
Wells Fargo views Sprint's announcement of opening 1,435 Sprint-RadioShack stores starting tomorrow as a positive. Wells believes the stores are in attractive locations across the country and that Sprint continues to focus on attracting higher credit quality customers. It keeps an Outperform rating on the name.
11:11 EDTTRIPOptions with increasing implied volatility
Options with increasing implied volatility: TLM WETF GRPN TRIP GMCR MYL AOL WB WFM EA
11:02 EDTSSprint to open 1,435 Sprint-RadioShack stores tomorrow
Sprint says it will more than double its company-owned retail footprint tomorrow by opening 1,435 Sprint-RadioShack stores. In last week’s transaction, General Wireless, an affiliate of Standard General LP, acquired 1,743 RadioShack stores. Sprint has agreed with Standard General to be co-tenants in 1,435 of those stores, with Sprint being the primary brand in marketing materials and signage. Sprint will occupy roughly one third of the retail space at these existing RadioShack locations. The phone carrier added, "The expansion of Sprint’s retail stores also means significant opportunities for the company to invest in local communities by adding nearly 3,500 new jobs. In the coming months, Sprint will actively recruit a skilled workforce to fill quality full- and part-time positions, helping to make local communities stronger."
09:18 EDTDG, FDOBofA/Merrill retail analysts hold an analyst/industry conference call
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April 8, 2015
13:08 EDTWBMDGoldman reverses WebMD downgrade back to Neutral from Sell
Goldman reversed this morning's downgrade of WebMD from Sell back to Neutral. Goldman's analyst said it erroneously included convertible notes in both its diluted share count and net debt calculation, which resulted in a an incorrect enterprise value calculation. The firm upgraded its rating back to Neutral and increased its price target to $57 from $40.
11:29 EDTTRIPOptions with increasing implied volatility
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10:45 EDTAIGHigh option volume stocks
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10:01 EDTWBMDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Almost Family (AFAM) downgraded to Neutral from Outperform at Baird... Angie's List (ANGI) downgraded to Neutral from Buy at B. Riley... Annaly Capital (NLY) downgraded to Underperform from Market Perform at FBR Capital... Apple (AAPL) downgraded to Hold from Buy at Societe Generale... Calamos (CLMS) downgraded to Underperform from Market Perform at Keefe Bruyette... Catamaran (CTRX) downgraded to Hold from Buy at Argus... Cinemark (CNK) downgraded to Neutral from Buy at Janney Capital... Crestwood Equity (CEQP) downgraded at BofA/Merrill... Cummins (CMI) downgraded to Neutral from Buy at Goldman... Kinder Morgan (KMI) downgraded to Buy from Conviction Buy at Goldman... L'Oreal (LRLCY) downgraded to Neutral from Outperform at Exane BNP Paribas... NextEra Energy Partners (NEP) downgraded to Neutral from Buy at Goldman... Regal Entertainment (RGC) downgraded to Neutral from Buy at Janney Capital... Trina Solar (TSL) downgraded at BofA/Merrill... WebMD (WBMD) downgraded to Sell from Neutral at Goldman... Yingli Green Energy (YGE) downgraded at BofA/Merrill... Zep Inc. (ZEP) downgraded to Sell from Buy at Wunderlich.
09:20 EDTWBMDOn The Fly: Pre-market Movers
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09:01 EDTAIGAIG announces FAA approval for commercial use of unmanned aerial vehicles
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08:09 EDTFDOFamily Dollar says sales trends in March 'rebounded nicely'
"We continue to see tangible benefits from the investments we have made to strengthen our value proposition for customers. Our comparable store sales and customer traffic trends are improving, and we are beginning to see stabilization in key categories. While our trends in late-February were adversely impacted by severe winter weather, our sales trends in March rebounded nicely, reflecting both improved traffic trends and the benefit of an earlier Easter,” said Howard R. Levine, Chairman and CEO. “We are excited about the pending merger with Dollar Tree, and our teams are working to ensure a successful integration.”
08:05 EDTFDOFamily Dollar says not providing guidance
On January 22, Family Dollar (FDO) stockholders adopted the merger agreement with Dollar Tree (DLTR). The completion of the merger remains subject to Federal Trade Commission clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and other closing conditions. Dollar Tree, with support from Family Dollar, is continuing to work with the FTC to obtain clearance under the HSR Act, including in connection with arranging for divestitures. Dollar Tree has informed Family Dollar that Dollar Tree intends to close the merger by the end of May 2015. In light of the pending transaction, the company has not provided earnings guidance for fiscal 2015 and will not hold a conference call to discuss its second quarter results.
08:05 EDTFDOFamily Dollar reports March SSS up 3.7%
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08:04 EDTFDOFamily Dollar reports Q2 adjusted EPS 74c, consensus 73c
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06:12 EDTWBMDWebMD downgraded to Sell from Neutral at Goldman
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06:06 EDTSSoftbank downsizing Silicon Valley presence, WSJ reports
SoftBank (SFTBF) has reduced its presence in Silicon Valley, relocating some employees to Japan and subsidiary Sprint's (S) headquarters in Kansas, The Wall Street Journal reports. The move to downsize comes after Sprint's failed bid to acquire T-Mobile US (TMUS) last year. Reference Link
05:49 EDTDGDollar General price target raised to $85 from $80 at Deutsche Bank
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April 7, 2015
16:38 EDTFDODollar Tree discloses update on FTC review process of Family Dollar acquisition
Dollar Tree (DLTR) disclosed in a regulatory filing, the following update on the Federal Trade Commission’s review process of the company’s pending acquisition of Family Dollar Stores (FDO). As of April 1, the FTC’s staff has substantially completed its review and identified approximately 340 stores for divestiture, representing approximately $47.4M of operating income. The company expects that all or almost all of the stores that will be divested will be Family Dollar stores. The company continues to make progress with divestiture buyers and has received multiple indications of interest from buyers, each of whom intend to operate these divested locations as dollar stores to address the FTC's concerns. The company is working to finalize divestiture agreements with the selected bidders in April 2015 and in parallel to secure FTC approval. The company intends to close the proposed merger in May, but this timing is subject to certain factors beyond the company’s control, including FTC approval.
15:30 EDTFDONotable companies reporting before tomorrow's open
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12:36 EDTTRIPOptions with increasing implied volatility
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