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Stock Market & Financial Investment News

News Breaks
July 11, 2014
10:00 EDTTCK, PG, MTG, CNW, TGB, PRGO, AUMN, EAT, QCOM, OTEX, FINL, ALDWOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Alon USA Partners (ALDW) downgraded to Neutral from Buy at Citigroup... Brinker (EAT) downgraded to Hold from Buy at Wunderlich... Con-way (CNW) downgraded to Neutral from Buy at Citigroup... Finish Line (FINL) downgraded at Sterne Agee... Golden Minerals (AUMN) downgraded to Neutral from Buy at Roth Capital... MGIC Investment (MTG) downgraded to Buy from Conviction Buy at Goldman... Open Text (OTEX) downgraded to Sector Perform from Outperform at RBC Capital... Perrigo (PRGO) downgraded to Equal Weight from Overweight at Morgan Stanley... Procter & Gamble (PG) downgraded to Market Perform from Outperform at Wells Fargo... Qualcomm (QCOM) downgraded to Buy from Conviction Buy at Goldman... Taseko Mines (TGB) downgraded at BofA/Merrill... Teck Resources (TCK) downgraded to Underperform from Neutral at BofA/Merrill.
News For ALDW;EAT;CNW;FINL;AUMN;MTG;OTEX;PRGO;PG;QCOM;TGB;TCK From The Last 14 Days
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November 13, 2014
12:44 EDTPGOn The Fly: Midday Wrap
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08:40 EDTPGProcter & Gamble says top line comps are more difficult in Q2 vs 2H15
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07:44 EDTPGProcter & Gamble to restate Batteries results to discontinued operations
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07:44 EDTPGP&G to incur non-cash charge of approx. 28c per share in current quarter
07:42 EDTPGProcter & Gamble sees FY15 core EPS growth mid-single digits
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07:41 EDTPGProcter and Gamble volatility flat into Berkshire Hathaway acquiring Duracell
Procter and Gamble (PG) overall option implied volatility of 13 is near its 26-week average of 14 according to Track Data, suggesting non-directional price movement into Berkshire Hathaway Inc. (BRK.B) acquiring the Duracell battery business from Procter & Gamble in deal valued at approximately $6.4B.
07:40 EDTPGProcter & Gamble reiterates FY15 organic sales, core EPS growth guidance
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07:40 EDTPGProcter & Gamble sees clsoing Duracell transaction in 2H15
Following its prior announcement of plans to exit the Duracell business, P&G (PG) said it now plans to execute a split transaction, in which it will exchange a recapitalized Duracell Company for Berkshire Hathaway’s (BRK.A) shares of P&G stock. Berkshire’s stock ownership is currently valued at approximately $4.7 billion. P&G said it expects to contribute approximately $1.8 billion in cash to the Duracell Company in the pre-transaction recapitalization. P&G said the transaction maximizes the after-tax value of the Duracell business and is tax efficient for P&G. The value received for Duracell in the exchange is approximately 7-times fiscal year 2014 adjusted EBITDA. This equates to a cash sale valued at approximately 9-times adjusted EBITDA. As part of the exit of the battery business, P&G announced that it closed the sale of its interest in a China-based battery joint venture earlier in the week. Based on the signing of the contract to exit the Duracell business, P&G will restate Batteries results to discontinued operations effective with the reporting of October-December 2014 quarterly results. The Company expects to restate earnings per share of approximately 12c-14c to discontinued operations for fiscal year 2014. All-in GAAP earnings per share are not affected by the restatements. P&G said it will incur a non-core, non-cash charge of approximately 28c per share in current quarter results to adjust Duracell goodwill and intangible assets to the expected after-tax transaction value. P&G expects to finalize the restatement and one-time charge amounts in the next few weeks, and will update shareholders when final amounts are available. P&G said it expects to close the Duracell transaction in the second half of calendar year 2015 pending necessary regulatory approvals.
07:31 EDTPGBerkshire Hathaway to acquire Procter & Gamble's Duracell battery business
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07:30 EDTPGBerkshire Hathaway to acquire Procter & Gamble's Duracell battery business
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November 12, 2014
12:55 EDTQCOMNVIDIA says Samsung files counter-suit, patent infringement claims
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07:11 EDTALDWAlon USA Partners to offer $450M of senior notes due 2022
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November 11, 2014
07:49 EDTFINLBofA/Merrill retail and consumer analysts hold analyst/industry conference call
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November 10, 2014
15:53 EDTPRGOCredit Suisse to hold a conference
Healthcare Conference is being held in Scottsdale, Arizona on November 10-13 with webcasted company presentations to begin on November 11 at 10:30 am; not all company presentations may be webcasted. Webcast Link
13:56 EDTPGProcter & Gamble to host analyst meeting
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07:19 EDTPRGOCredit Suisse to hold a conference
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07:13 EDTOTEXOpen Text to hold a conference
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07:02 EDTMTGMGIC Investment reports October primary new insurance written $3.3B
Reports beginning primary delinquent inventory of 83,154 loans and ending primary delinquent inventory of 82.,369 loans.
06:28 EDTQCOMReport: TSMC may buy Qualcomm Taiwan factory, DigiTimes says
TSMC (TSM) is considering an acquisition of Qualcomm's (QCOM) Taiwan factory to expand its packaging and test business, reports DigiTimes. Citing a Chinese-language Economic Daily News report, the Qualcomm factory will be acquired for several billion NT dollars. Reference Link
05:48 EDTFINLU.S. Retail Softlines industry cut to Negative at Barclays
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