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Stock Market & Financial Investment News

News Breaks
August 14, 2014
15:03 EDTSINA, A, WB, AMAT, JCP, JWNNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Applied Materials (AMAT), consensus 27c; Agilent (A), consensus 74c; Nordstron (JWN), consensus 95c; Weibo (WB), consensus (3c); SINA (SINA), consensus 9c; and J.C. Penney (JCP), consensus (93c).
News For AMAT;A;JWN;WB;SINA;JCP From The Last 14 Days
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April 20, 2015
10:00 EDTSINA, WBOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 58.com (WUBA) initiated with a Hold at Summit Research... Aduro Biotech (ADRO) initiated with a Buy at Roth Capital... Alibaba (BABA) initiated with a Buy at Summit Research... Baidu (BIDU) initiated with a Buy at Summit Research... Callaway Golf (ELY) initiated with a Buy at Jefferies... Cellectis (CLLS) initiated with a Buy at Jefferies... Changyou.com (CYOU) initiated with a Buy at Summit Research... Cheetah Mobile (CMCM) initiated with a Buy at Summit Research... Ctrip.com (CTRP) initiated with a Hold at Summit Research... Dynegy (DYN) initiated with an Overweight at Morgan Stanley... FMC Corporation (FMC) initiated with a Neutral at Monness Crespi... Franklin Financial Network (FSB) initiated with a Buy at BofA/Merrill... Granite Construction (GVA) initiated with an Outperform at Cowen... Hershey (HSY) initiated with a Reduce at Nomura... JD.com (JD) initiated with a Hold at Summit Research... Jumei (JMEI) initiated with a Buy at Summit Research... McEwen Mining (MUX) initiated with a Buy at H.C. Wainwright... Natural Gas Services (NGS) initiated with a Neutral at Sidoti... New Residential (NRZ) initiated with a Buy at BofA/Merrill... Platform Specialty Products (PAH) initiated with an Outperform at Credit Suisse... Qihoo 360 (QIHU) initiated with a Buy at Summit Research... Qunar (QUNR) initiated with a Buy at Summit Research... SINA (SINA) initiated with a Hold at Summit Research... Smith & Wesson (SWHC) initiated with a Sector Perform at RBC Capital... Sohu.com (SOHU) initiated with a Hold at Summit Research... SolarEdge (SEDG) initiated with a Buy at Deutsche Bank... Splunk (SPLK) initiated with a Buy at Citigroup... Tableau (DATA) initiated with a Neutral at Citigroup... Team Health (TMH) initiated with an Outperform at Leerink... Tuniu (TOUR) initiated with a Buy at Summit Research... Vipshop (VIPS) initiated with a Buy at Summit Research... Vista Outdoor (VSTO) initiated with an Outperform at RBC Capital... Weibo (WB) initiated with a Buy at Summit Research... YY Inc. (YY) initiated with a Buy at Summit Research... Youku Tudou (YOKU) initiated with a Hold at Summit Research... Zhaopin (ZPIN) initiated with a Hold at Summit Research.
07:30 EDTAMATApplied Materials added to Franchise Picks list at Jefferies
Jefferies added Applied Materials (AMAT) to its Franchise Picks list with the stock down 14% year-to-date. The firm attributes the pullback to concerns around tool reuse, and notes it still expects foundry capital spending to increase amid "increased process complexity and competition." Jefferies' work indicates TSMC's (TSM) and Intel's (INTC) capex cuts were driven by market share losses rather than innovation in tool reuse. It keeps a Buy rating on AMAT with a $29 price target.
05:48 EDTSINASINA initiated with a Hold at Summit Research
Target $39.
05:47 EDTWBWeibo initiated with a Buy at Summit Research
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April 19, 2015
14:47 EDTAMerck submits supplemental biologics license for Keytruda in lung cancer
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April 16, 2015
11:07 EDTAMATTSMC capex cut not worrisome for semi equipment makers, says Summit Research
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10:36 EDTAMATApplied Materials drifts lower, levels to watch
The shares are down nearly 3% to $21.87 as Intel's (INTC) capex cuts weigh on the stock and its peers. At current price next support is at $21.36. Resistance is at $22.39.
April 15, 2015
11:09 EDTJCPJ.C. Penney rally would be opportunity to issue shares, says Imperial Capital
Imperial Capital continues to expect elevated debt levels to erode the value of J.C. Penney shares, but it thinks favorable operating momentum could drive the stock price above $10. Imperial believes such a rally would provide Penny with a "great opportunity" to issue additional shares to pay down debt. The firm keeps an Underperform rating on Penny with a $3 price target. Shares of the retailer are up 9c to $9.23 in late morning trading.
06:41 EDTAMATCiti recommends Applied Materials, Lam after Intel capex cut
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April 14, 2015
17:04 EDTAMATSemiconductor equipment stocks lower after Intel cuts FY15 CapEx view
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11:47 EDTJCPJ.C. Penney business on 'more stable footing,' says Baird
Baird analyst Mark Altschwager says J.C. Penney's business is on "more stable footing" after the retailer reported a quarter-to-date comp of 6% and provided Q1 comp guidance above consensus. Altschwager raised his price target for shares to $10 from $9 but keeps a Neutral rating on Penny. He believes meaningful free cash flow growth will be challenging as investment needs normalize.
10:50 EDTSINAOptions with increasing implied volatility
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08:55 EDTJCPJ.C. Penney sees Q1 SSS up 3.5%-4.5%
J.C. Penney said in a regulatory filing that on April 13, the company became aware that a senior official of the company inadvertently sent an e-mail communication to a securities analyst that contained non-public information regarding the company’s comparable store sales results for Q1 to date, which are approximately 6%. Based on results to date, and taking into account the shift of Easter into the fiscal month of March this year, the company currently expects comparable store sales for Q1 to be in the range of 3.5%-4.5%.
April 13, 2015
16:21 EDTSINAOn The Fly: Top stock stories for Monday
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16:18 EDTAeBay announces executive appointments ahead of PayPal separation
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13:26 EDTSINAOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Dow and S&P 500 slightly lower and the Nasdaq clinging to a narrow gain. The broader market opened in positive territory and the averages moved in a narrow trading range during the morning. The Nasdaq has been the strongest of the indices since the open, though early gains from Apple (AAPL) and Qualcomm (QCOM) had evaporated by near midday, taking a bite out of the gains the index had been seeing earlier in the session. ECONOMIC EVENTS: In the U.S., no major economic data was released. In China, export sales unexpectedly contracted 15% in March, while imports shrank 12.7% last month from a year ago. The March fall in imports was in line with forecasts, unlike the one for exports, which were expected to rise 12%. COMPANY NEWS: Activist investor Jana Partners is putting pressure on Qualcomm to increase stock buybacks and take other actions to increase shareholder value, including an exploration of spinning off its chip unit from its patent-licensing unit. In response to statements made by JANA, Qualcomm noted that it recently increased its stock repurchase authorization to $15B and repeated that it plans to repurchase $10B of common stock within one year. Barry Rosenstein of JANA Partners, while speaking on CNBC, said Qualcomm should buy back $15B of its shares over the next six months, before the company undertakes strategic actions that could move the stock higher... Apple shares were rising early in the trading day but had given up their gains by midday. Pre-orders of its new Apple Watch started Friday. The company did not release any sales figures for the first weekend, but research firm Slice Intelligence estimated that nearly one million customers in the U.S. preordered the device on the first day it was available. MAJOR MOVERS: Among the notable gainers were Alamos Gold (AGI), which rose 6%, and AuRico Gold (AUQ), which rose 7%, after the companies announced an agreement to combine via "a merger of equals" with a transaction equity value of about $1.5B. Upon completion of the deal, former Alamos and AuRico shareholders will each own approximately 50% of the new Alamos Gold and a new company, to be named AuRico Metals, will be created to hold AuRico's Kemess project and some other assets. The newly formed company will own a 4.9% equity interest in the spinoff and the remaining "SpinCo" shares will be distributed 50% each to former Alamos and AuRico shareholders. Also higher was Builders FirstSource (BLDR), which gained 65% after announcing that it has entered into an agreement to acquire ProBuild Holdings in an all-cash transaction valued at about $1.63B. Among the noteworthy losers was Basic Energy (BAS), which fell 8% after Raymond James downgraded the stock to Market Perform based on valuation, substantial pricing pressure, and industry overcapacity. Also lower were U.S.-listed shares of Sina (SINA), which dropped 5% after the Financial Times reported that China's government has warned that it will shut down the company's service if it does not "improve censorship." INDEXES: Near midday, the Dow was down 19.08, or 0.11%, to 18,038.57, the Nasdaq was up 7.93, or 0.16%, to 5,003.91, and the S&P 500 was down 3.04, or 0.14%, to 2,099.02.
09:38 EDTSINASINA trades lower after Beijing warns on insufficient censorship
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09:20 EDTSINAOn The Fly: Pre-market Movers
HIGHER: Builders FirstSource (BLDR), up 54.35% after acquiring ProBuild in all-cash transaction... Arrowhead (ARWR), up 14.3% after being cleared to proceed with multiple dose Phase 2b study of ARC-520... Oramed Pharmaceuticals (ORMP), up 6.9% after enrolling first patient in glucose clamp study for oral insulin... Clovis Oncology (CLVS), up 8.2% after being upgraded to Buy from Neutral at Goldman... Quantum (QTM), up 3.2% after announcing go-to-market partnership with Dot Hill Systems (HILL)... Netflix (NFLX), up 3.4% after being upgraded to Buy from Neutral at UBS... Apple (AAPL), up just under 1% following reports of Apple Watch orders. LOWER: Sina (SINA), down 3% following a report from the Financial Times that China may shut down the company if censorship doesn't improve... Ruckus Wireless (RKUS), down 2.9% after being downgraded to Buy from Conviction Buy at Goldman... Allot Communications (ALLT), down 2.7% after being downgraded to Hold from Buy at Needham.
06:29 EDTSINAChina may shut down Sina if censorship doesn't improve, Financial Times says
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06:22 EDTJCPGap, Target, others scrutinized by NY AG over staffing practices, WSJ says
Several major retailer including Gap (GPS) and Target (TGT) are under investigation by New York Attorney General Eric Schneiderman over their staffing practices and whether they require workers to show up or stay home with little notice, The Wall Street Journal reports. Schneiderman sent letters warning Abercrombie & Fitch (ANF), JC Penney (JCP), Urban Outfitters (URBN), TJX Cos (TJX), Ann Inc (ANN), L Brands (LB), Burlington Stores (BURL), Sears Holdings (SHLD), Williams-Sonoma (WSM) and J Crew Group that he believes the chains are using on-call scheduling and that such practices may be in violation of New York laws. Reference Link
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