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Stock Market & Financial Investment News

News Breaks
February 6, 2013
15:17 EDTALL, SRCL, PRU, ORLY, LNC, FMC, EFX, CINF, CBG, AIZ, V, NWSA, TSOCompanies reporting After the Market Close on Wednesday, February 6th
Notable companies reporting after the bell include Akamai (AKAM), Allstate (ALL), Assurant (AIZ), CBRE Group (CBG), Cincinnati Financial (CINF), Equifax (EFX), FMC Corporation (FMC), Lincoln National (LNC), News Corp. (NWSA), O'Reilly Automotive (ORLY), Prudential (PRU), Stericycle (SRCL), Tesoro (TSO) and Visa (V)
News For ALL;NWSA;V;AIZ;CBG;CINF;EFX;FMC;LNC;ORLY;PRU;SRCL;TSO From The Last 14 Days
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September 25, 2014
06:08 EDTALLCiti recommends long Progressive, short Allstate pair trade
Citigroup recommends a pair trade of overweighting Progressive (PGR) while underweighting Allstate (ALL). Citi expects margins to expand for Progressive and fall at Allstate. The firm has a Buy rating on Progressive and Neutral rating on Allstate.
September 24, 2014
17:33 EDTALLMarchex received notice of termination from Allstate
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11:19 EDTVVisa creates 2K technologists positions, new India technology center
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07:12 EDTLNCLincoln National management to meet with UBS
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September 23, 2014
10:02 EDTTSOOn The Fly: Analyst Initiation Summary
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07:18 EDTLNCLincoln National management to meet with UBS
Meetings to be held in Geneva/Zurich on September 23 hosted by UBS.
06:06 EDTTSOTesoro initiated with a Neutral at JPMorgan
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September 22, 2014
07:34 EDTPRUThe Atlantic Council hosts a discussion
Prudential Managing Director Bonesteel, Rock Creek Global Advisors Vice President Lowery and International Monetary Fund Director discuss the growing importance of global public investors in international capital markets in a discussion being held in Washington, D.C. on September 22 at 4 pm.
07:30 EDTLNCLincoln National management to meet with UBS
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07:14 EDTVGSM Association to hold a conference
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September 19, 2014
11:28 EDTEFXEquifax partners with BlackBox Logic
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10:07 EDTNWSAHigh option volume stocks
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10:06 EDTALLOn The Fly: Analyst Downgrade Summary
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07:10 EDTALLMarchex price target cut to $6 from $12 at RBC Capital
RBC Capital cut its price target on Marchex (MCHX) after the company announced that Allstate (ALL) would no longer be its customer. However, the firm notes that Marchex has about $3.40 per share in cash, and it still believes that the company can benefit from the mobile and local Internet "megatrend." It keeps an Outperform rating on the shares.
06:26 EDTALLAllstate downgraded to Equal-Weight from Overweight at Evercore
September 18, 2014
12:45 EDTALLOn The Fly: Midday Wrap
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10:34 EDTORLYHigh option volume stocks
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08:59 EDTALLOn The Fly: Pre-market Movers
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06:20 EDTALLMarchex cuts 2014 call-driven revenue outlook due to revised Allstate commitment
Allstate (ALL) has indicated its desire to move to a fixed fee model going forward. Under this proposed model, Marchex’s (MCHX) economic upside would have been limited, while financial exposure to Marchex would have remained. Marchex does not believe it is in its best long-term interest to work under such an arrangement. Marchex will continue to work with Allstate as an integration partner utilizing its call analytics technology. Marchex expects this will be a relatively small financial contributor. Marchex CEO Russell Horowitz said, "“This outcome is disappointing, as we believe that a performance-based model is the way most companies are progressing. This is the trend we are seeing with our customer base... Beyond Allstate, we continue to experience growth in our customer base for call-driven advertising products and believe we are early in the customer adoption phase of mobile and call-driven advertising."
05:31 EDTVVisa to undertake assessment of stake in Monitise
Visa (V) and Monitise entered into an alliance agreement in 2009. At the same time, Visa began investing in Monitise. Given the maturation of Monitise as a company, Visa is considering its options with respect to the investment and has engaged J.P. Morgan Securities (JPM) to assist. Visa will also be lessening its dependence on external mobile development resources. In 2009, in conjunction with its commercial partnership, Visa invested in Monitise as a 14.4% owner of the company in order to provide capital support to a leader in the evolution of the mobile payments sector. Over time, Visa’s holdings have been reduced to its current 5.5% stake in the company. This reduction in ownership and associated influence is consistent with Visa’s investment practice to seed emerging players and, over time, taper that influence as the partner company grows. Under their agreement, Monitise will provide Visa with mobile platform development services through 2016. As both Visa and the payments industry evolve at a rapid pace, Visa intends to continue increasing its investment in its own in-house capabilities and, as a result, reducing its use of external resources.
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