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Stock Market & Financial Investment News

News Breaks
May 31, 2013
16:22 EDTPANW, AIG, KKD, OVTIOn The Fly: Closing Wrap
Stocks on Wall Street were lower after the averages fell sharply in the final hour of trading. The averages moved in a narrow range near the flatline for much of the session, and despite the late-day selloff, each of the major indices finished the month with marked gains, going against the "sell in May" theory. ECONOMIC EVENTS: In the U.S., personal income was reported to be flat in April, versus expectations of an increase of 0.1%, while personal spending fell 0.2% in the month, versus the consensus forecast for it to be unchanged. The ISM-Chicago business survey had a reading of 58.7, versus an expected reading of 50.0. The University of Michigan consumer confidence report came in at 84.5, versus expectations for a reading of 83.7. COMPANY NEWS: American International Group (AIG) lost $1.75, or 3.79%, to $44.46, after the company disclosed that a Chinese group that has agreed to buy up to 90% of International Lease Finance Corporation common stock missed a deposit deadline. AIG has previously said asset sales will be key to funding its capital return plans, potentially including share buybacks. MAJOR MOVERS: Among the notable gainers following their earnings reports and better than expected guidance were OmniVision (OVTI),up $2.978, or 19.24%, to $18.47, and Krispy Kreme (KKD), up $3.06, or 21.46%, to $17.32. Among noteworthy losers was Palo Alto Networks (PANW), $5.87, or 10.795, to $48.52 after its third quarter revenue missed the Street view and its fourth quarter outlook came in below expectations. INCDICES: The Dow lost 208.96, or 1.36%, to 15,115.57; the S&P lost 23.87, or 1.43%, to 1,630.74; the Nasdaq lost 35.39, or 1.01%, to 3,455.91.
News For AIG;OVTI;KKD;PANW From The Last 14 Days
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April 28, 2015
11:35 EDTAIGAIG May weekly volatility elevated into Q1 and outlook
AIG May weekly call option implied volatility is at 39, May is at 20, June is at 18, August is at 17; compared to its 26-week average of 21 according to Track Data, suggesting larger near term price movement into the expected release of Q1 results on May 1.
April 23, 2015
17:17 EDTAIGAir Lease settles AIG litigation, will pay $72M in total
In a regulatory filing, Air Lease (AL) reports that on April 22, 2015, it and certain executive officers and employees of the company entered into a settlement agreement and release with American International Group (AIG), International Lease Finance Corporation, and ILFC’s parent, AerCap Holdings (AER), to settle all ongoing litigation. Pursuant to the terms of the agreement, all claims and counterclaims asserted in the litigation will be dismissed with prejudice, each of the parties to the litigation will receive full releases of all claims and counterclaims asserted in the litigation, and Air Lease will pay AIG the sum of $36M no later than June 30, and an additional sum of $36M no later than September 30, which will be reflected in Air Lease's March 31 financial statements. No party admits any wrongdoing or liability with respect to any matter alleged in the litigation.
April 22, 2015
07:12 EDTPANWStephens to hold company meetings at conference
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April 21, 2015
08:40 EDTPANWCheck Point price target raised to $100 from $85 at Needham
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07:15 EDTPANWUBS to host a software tour
Software Tour at RSA Conference is being held on April 21-24.
April 20, 2015
16:32 EDTPANWPalo Alto re-initiated with an Outperform at Imperial Capital
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12:35 EDTPANWCybersecurity stocks rally after Raytheon announces joint venture
The shares of cybersecurity companies are rising after Raytheon (RTN), a major defense contractor, announced that it was forming a cybersecuity joint venture with a company in the sector, Websense. Raytheon will acquire control of Websense as part of the deal. WHAT'S NEW: Raytheon announced that it had agreed to form a joint venture with Websense, which is owned by Vista Equity Partners. Under the deal, Websense will combine with Raytheon Cyber Products, a business unit of Raytheon's Intelligence, Information and Services segment. Raytheon will pay about $1.57B for an 80.3% stake in the joint venture. Additionally, Raytheon will pay $1.9B, net of cash acquired, to buy Websense. Of the $1.9B, $600M will be in the form of an intercompany loan to the joint venture. The combined company will be treated as a separate business segment of Raytheon, the defense contractor stated. John McCormack, the CEO of Websense, will be the CEO of the unit. The deal is expected to close next quarter. ANALYST REACTION: In a note to investors earlier today, Wells Fargo analyst Sam Pearlstein wrote that the deal will raise Raytheon's non-GAAP, 2015 adjusted earnings per share by about 6c. However, the transaction will lower Raytheon's EPS on a GAAP basis for 2015 by 48c, driven by amortization of intangibles, deferred revenue, and one-time costs, according to Pearlstein. The analyst kept an Outperform rating on Raytheon shares. WHAT'S NOTABLE: Cybersecurity company Check Point (CHKP) reported stronger than expected first quarter results today. Its Q2 guidance was roughly in-line with analysts' consensus estimates at the midpoints of the ranges given for earnings and revenue. Additionally, Check Point announced a partnership with another cybersecurity company, FireEye (FEYE). The companies said they would share threat intelligence to protect customers from modern advanced attacks. PRICE ACTION: In early afternoon trading,Check Point jumped 5.4% to $86.14, FireEye rose 3.8% to $42.39, Palo Alto (PANW) gained 2.4% to $146, Fortinet (FTNT) added 1.7% to $34.28, Proofpoint (PFPT) advanced 1.7% to $58, and Raytheon slid 0.3% to $107.40.
April 17, 2015
08:29 EDTAIGAIG reserves to become tailwind this year, says Bernstein
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April 16, 2015
08:56 EDTAIGAIG says Doug Steenland to succeed Steve Miller as non-executive chairman
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07:26 EDTAIGAIG shares remain attractive, says Deutsche Bank
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April 15, 2015
16:34 EDTAIGAIG invests in K2 Intelligence
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15:56 EDTAIGAIG to invest in K2 Intelligence, NY Times says
AIG plans to announce that it has made an investment in investigations firm K2 Intelligence, though terms of the investment were not disclosed, reported The New York Times. Reference Link
10:36 EDTAIGBofA/Merrill U.S. credit analysts hold an analyst/industry conference call
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