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Stock Market & Financial Investment News

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January 30, 2013
10:24 EDTGGG, PCH, CP, USB, LEN, HA, FOSL, IDIX, YUM, PLD, JBLU, HOG, HES, XOM, UNP, OPEN, ITW, F, AMZNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Amazon.com (AMZN) downgraded to Outperform from Buy at CLSA... Ford (F) downgraded to Underperform from Outperform at CLSA... Fossil (FOSL) downgraded to Sell from Hold at Brean Capital... Graco (GGG) downgraded to Neutral from Buy at Janney Capital... Harley-Davidson (HOG) downgraded to Neutral from Buy at Goldman... Hawaiian Holdings (HA) downgraded to Hold from Buy at Deutsche Bank... Illinois Tool Works (ITW) downgraded to Market Perform from Outperform at BMO Capital... JetBlue (JBLU) downgraded to Underperform from Market Perform at Raymond James... Lennar (LEN) downgraded to Neutral from Outperform at Credit Suisse... OpenTable (OPEN) downgraded to Perform from Outperform at Oppenheimer... ProLogis (PLD) downgraded to Market Perform from Outperform at Wells Fargo... U.S. Bancorp (USB) downgraded to Neutral from Overweight at JPMorganbas... Union Pacific (UNP) downgraded to Neutral from Overweight at Atlantic Equities... Yum! Brands (YUM) downgraded to Market Perform from Outperform at Bernstein... Canadian Pacific (CP) downgraded to Hold from Buy at Stifel Nicolaus... Exxon Mobil (XOM) downgraded to Neutral from Outperform at Macquarie... Idenix (IDIX) downgraded to Neutral from Outperform at Wedbush... Potlatch (PCH) downgraded to Underperform from Neutral at DA Davidson... Hess Corp. (HES) downgraded to Neutral from Add at Capital One.
News For AMZN;F;GGG;HOG;HA;ITW;JBLU;LEN;OPEN;PLD;USB;UNP;YUM;CP;XOM;IDIX;PCH;HES;FOSL From The Last 14 Days
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June 19, 2015
08:22 EDTAMZNChina to let foreign companies fully own e-commerce businesses, Reuters reports
China's Ministry of Industry and Information Technology announced that, effective immediately, foreign companies will be allowed to have full ownership of some e-commerce businesses, reported Reuters. Players in China's booming e-commerce market include market leader Alibaba Group (BABA) as well as JD.com (JD), Amazon.com (AMZN), Vipshop (VIPS) Wal-Mart (WMT), which holds a stake in shopping site Yihaodian, the report noted. Reference Link
05:52 EDTAMZNStocks with implied volatility movement; AMZN QCOM
Stocks with implied volatility movement; Amazon.com (AMZN) 24, Qualcomm (QCOM) 19 according to iVolatility.
June 18, 2015
14:37 EDTXOMExxonMobil signs MOU to collaborate on R&D with Korea Institute of Technology
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12:34 EDTXOMOn The Fly: Top stock stories at midday
Stocks on Wall Street opened in positive territory and continued to tack on gains throughout the morning. The move has been broad based, with each of the major averages gaining at least 1%. The move may be reflecting investors feeling a sense of relief following yesterday’s FOMC meeting, after which the central bank repeated its promise to be gradual in raising rates, without specifying when rate "lift-off" will commence. ECONOMIC EVENTS: In the U.S., the consumer prices index rose 0.4% in the month of May, versus expectations for a 0.5% increase. The core reading, which removes food and energy prices, rose 0.1%, versus the expected increase of 0.2%. Initial jobless claims dipped 12,000 to 267,000 in the week ended June 13, versus expectations for 277,000 first-time claims. The Philadelphia Fed manufacturing survey climbed 8.5 points to 15.2 in June, topping expectations for a reading of 8. The leading indicators rose 0.7% to 123.1 in May, topping expectations for a rise of 0.4%. In Europe, International Monetary Fund chief Christine Lagarde reportedly said Greece won’t be given a grace period if it fails to make its scheduled payment to the fund on June 30. Meanwhile, finance ministers of euro area member states are set to meet today, but expectations for progress on Greece are low. Also, the Norwegian central bank cut interest rates to a record low, while the Swiss National Bank kept its deposit rate at record lows as well. In Asia, the Shanghai composite index tumbled 3.7% overnight, doubling its weekly decline to 7.4% and increasing fears that a bubble in the nation's stock market may be preparing to burst. COMPANY NEWS: Shares of enterprise software, hardware and IT services provider Oracle (ORCL) dropped 7% after the company reported lower than expected fourth quarter earnings per share and gave a lower than expected forecast for profit in its new quarter. Analysts at several firms, including Susquehanna, Wells Fargo and Cantor, suggested the post-earnings drop may be a buying opportunity, citing progress in the company's cloud efforts... Fitness tracker maker Fitbit (FIT) surged nearly 50% in its first day of public trading. The company priced its initial public offering at $20 per share, topping expectations, then opened at $30.40 per share, giving it a market value near $6.3B in early trading. Near noon, the stock had pulled back a bit to trade just below $30 per share. MAJOR MOVERS: Among the notable gainers was PBF Energy (PBF), which gained 18% after announcing that its subsidiary has signed a definitive agreement to purchase Chalmette Refining, a joint venture between affiliates of Petroleos de Venezuela and ExxonMobil (XOM). Also higher was BioMarin (BMRN), which rose 13% after the company reported results from a study of BMN-111 in dwarfism and several analysts hiked their price targets on the stock to reflect the increased probability of success for the drug. Among the noteworthy losers following their earnings reports were Bankrate (RATE), which fell 18%, and Jabil Circuit (JBL), which dropped 7%. INDEXES: Near midday, the Dow was up 218.44, or 1.22%, to 18,154.18, the Nasdaq was up 74.96, or 1.48%, to 5,139.84, and the S&P 500 was up 23.57, or 1.12%, to 2,124.01.
12:04 EDTAMZNActive options: AAPL ORCL FB RAD BAC HTZ MU GE TSLA AMZN BABA KO
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11:47 EDTXOMExxon Mobil to sell 50% interest in Chalmette Refining to PBF Energy
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11:36 EDTXOMPBF Energy to acquire Chamlette refinery, related logistics assets for $322M
PBF Energy (PBF) announced that its subsidiary has signed a definitive agreement to purchase Chalmette Refining, LLC, consisting of the 189,000 barrel per day Chalmette Refinery and related logistics assets, from ExxonMobil (XOM) and PDV Chalmette, LLC. With the acquisition PBF will increase its total throughput capacity to over 725,000 barrels per day. The purchase price for the assets is $322M, plus working capital including inventory to be valued at closing. PBF Energy does not expect to issue equity to finance any portion of this transaction. The transaction is expected to be approximately 20% accretive to 2016 consensus earnings in the first year of operation and is expected to close prior to year-end 2015, subject to customary closing conditions and regulatory approvals. The Chalmette Refinery, located outside of New Orleans, Louisiana, is a 189,000 barrel per day, dual-train coking refinery with a Nelson Complexity of 12.7 and is capable of processing both light and heavy crude oil. The facility is strategically positioned on the Gulf Coast with strong logistics connectivity that offers flexible raw material sourcing and product distribution opportunities, including the potential to export products. In addition to refining assets, the transaction includes 100% ownership of the MOEM Pipeline, providing access to the Empire Terminal, as well as the CAM Connection Pipeline, providing access to the LOOP facility through a third party pipeline. The transaction also includes 80% ownership in each of the Collins Pipeline Company and T&M Terminal Company, both located in Collins, Mississippi, which provide a significant clean products outlet for the refinery via the Plantation and Colonial Pipelines. Also included in the transaction are a marine terminal capable of importing waterborne feedstocks and loading or exporting finished products; a clean products truck rack which provides access to local markets; and a crude and product storage facility with approximately 7.5 million barrels of shell capacity. PBF estimates the acquired MLP-qualifying pre-tax earnings from the logistics assets of Chalmette Refining, LLC, to be at least $30M.
11:35 EDTXOMPBF Energy to acquire Chamlette refinery, related logistics assets
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11:31 EDTYUMOptions with increasing implied volatility
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11:01 EDTJBLUAvis Budget, JetBlue sign preferred partnership agreement
Avis Budget Group (CAR) announced that it has signed a multi-year preferred partnership agreement with JetBlue Airways (JBLU). The new agreement significantly expands the existing marketing affiliation between the two companies, under which Avis Budget Group has served as a partner within JetBlue's TrueBlue loyalty rewards program. Under the new agreement, Avis Budget Group will promote its Avis Car Rental, Budget Car Rental and Payless Car Rental brands, products and services as well as money-saving offers directly to JetBlue customers and TrueBlue members. TrueBlue members and those with Mosaic status will have the opportunity to earn TrueBlue points when renting from Avis, Budget and Payless. The three rental brands will also be featured on JetBlue's online booking channel located at www.jetblue.com so that travelers can conveniently make car rental reservations when purchasing airline tickets.
10:54 EDTAMZNAmazon says long-term pact struck with publisher Penguin, AP reports
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10:01 EDTUSBOn The Fly: Analyst Initiation Summary
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09:35 EDTAMZNActive equity options trading on open
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08:48 EDTLENLennar volatility flat into Q2 and outlook
Lennar July call option implied volatility is at 29, August is at 27, November is at 28; compared to its 52-week range of 23 to 40, suggesting non-directional price movement into the expected release of Q2 results on June 24.
08:38 EDTHOGHarley-Davidson buyback a significant catalyst, says Baird
Baird said the Harley-Davidson announcement to add 15M additional shares to its existing share buyback authorization is a significant catalyst as its signals a potential bottom to value investors looking for an attractive entry point. Baird reiterated its Outperform rating and $70 price target on Harley-Davidson shares.
08:14 EDTAMZNAmazon.com international EGM revenues poised to accelerate, says Bernstein
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08:04 EDTAMZNGoogle accelerating pace of cloud product innovation, says Baird
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08:00 EDTHOGHarley-Davidson leverage buyback conveys bullish outlook, says Goldman
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07:08 EDTUSBU.S. Bancorp initiated with an Equal Weight at Stephens
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06:01 EDTHOGHarley-Davidson upgraded to Buy from Neutral at UBS
UBS upgraded Harley-Davidson to Buy and increased its price target to $63 from $60. The firm upgraded shares based on valuation and new balance sheet strategy following changes at the board and CEO level. Harley-Davidson announced an additional 20M share buyback yesterday on top of the existing 15.9M and UBS believes the move signals a shift in strategy towards shareholder returns.
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