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Stock Market & Financial Investment News

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April 27, 2012
12:19 EDTDECK, WCRX, MDRX, JAZZ, BAYRY, SIMO, CRAY, F, PG, MXWL, EXPE, MRK, AMZN, CVH, CERN, SBUX, CVXOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, in spite of Spain's ratings being cut by S&P and a U.S. GDP reading that disappointed. Each of the major indices is higher, with the Nasdaq the leader. The averages have moved in a narrow range since the open as market participants digest all the earnings and economic news that was delivered this week. Earnings have come in better than expected, which has led the averages to rebound and stand ready for a positive close for the week. The economic data remains mixed, as housing and labor continue to limp along but consumer confidence is showing an uptick. For now earnings have trumped macro data, leading to a move higher for equities... ECONOMIC EVENTS: In the U.S., gross domestic product reportedly grew at an annual rate of 2.2% in the first quarter, versus an expected increase of 2.5%. Personal consumption increased 2.9%, versus expectations for an increase of 2.3%. The University of Michigan Consumer Confidence report had a reading of 76.4, versus the expected 75.7. Regarding Europe, S&P cut its credit rating on Spain to BBB+ from A and said its long-term outlook is negative... COMPANY NEWS: Amazon.com (AMZN), Ford (F) and Starbucks (SBUX) all exceeded expectations on the top and bottom lines, but only Amazon was rewarded by investors. Shares of the internet giant advanced more than 14% on the heels of upgrades from Goldman, Merrill Lynch, Nomura and Sun Trust on its strong results... The three Dow components reporting earnings, Chevron (CVX), Merck (MRK) and Procter & Gamble (PG), all declined in spite of the fact that each beat consensus earnings expectations. P&G was the Dow's worst performer, sliding 3.5%, after lowering its outlook for next quarter... Among the many other companies reporting earnings, advancers included Expedia (EXPE), Cray (CRAY) and Cerner (CERN); decliners included Maxwell (MXWL), Silicon Motion (SIMO) and Coventry Health (CVH)... MAJOR MOVERS: Among the notable gainers were Jazz Pharmaceuticals (JAZZ), up over 15%, after announcing plans to acquire EUSA Pharma for $650M, and Warner Chilcott (WCRX), up 9%, after the Times of London said that Bayer (BAYRY) may offer $32 per share for the company. Noteworthy losers included Allscripts (MDRX), down 41%, following downgrades by at least eight firms after its earnings and guidance severely missed consensus and the company reported the ouster of its board chairman, three other board members and its CFO, and Deckers Outdoor (DECK), down more than 25%, after lowering its full year sales and profit outlook... INDICES: Near noon, the Dow was up 30.92, or 0.23%, to 13,235.54; the Nasdaq was up 14.12, or 0.46%, to 3,064.73; and the S&P 500 was up 2.31, or 0.17%, to 1,402.29.
News For AMZN;PG;CVX;MRK;F;SBUX;EXPE;CRAY;CERN;MXWL;SIMO;CVH;JAZZ;WCRX;BAYRY;MDRX;DECK From The Last 14 Days
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December 8, 2014
07:52 EDTSBUXStarbucks price target raised to $97 from $88 at Jefferies
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07:35 EDTMRKAdvaxis reports FDA acceptance of IND application for ADXS-PSA combination trial
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07:29 EDTJAZZUBS to hold investor trip
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07:18 EDTJAZZUBS to hold investor trip
2014 Annual West Coast Investor Trip travels on the West Coast on December 8-10.
07:13 EDTMRKMerck to host conference call
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07:01 EDTMRKMerck to acquire Cubist for $102 per share in cash, or $9.5B
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07:00 EDTMRKMerck to acquire Cubist for $102 per share in cash
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06:47 EDTSBUXStarbucks coverage resumed with a Conviction Buy at Goldman
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06:30 EDTAMZNAmazon's German workers strike again, WSJ reports
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December 7, 2014
16:29 EDTMRKMerck in discussions to buy Cubist for $7B, Bloomberg reports
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12:58 EDTMRKMerck presents KEYTRUDA data at ASH
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December 5, 2014
16:52 EDTSBUXDow just below 18K as market finishes week with gains
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12:13 EDTSBUXStarbucks hits 52-week high after analysts applaud five-year plan
Shares of Starbucks (SBUX) are climbing after a number of analysts were upbeat about the company's long-term guidance, which it announced yesterday. WHAT'S NEW: After Starbucks yesterday estimated that its revenue would approach $30B in fiscal 2019, up from $16B in fiscal 2014, research firm Piper Jaffray analyst Nicole Regan wrote in a note to investors today that the stock could more than double within four years. The depth and breadth of the plan that Starbucks unveiled yesterday in conjunction with its guidance is "particularly impressive," she contended. Regan was upbeat about the company's plans to double its U.S. food business, launch new technology initiatives, and significantly grow its store count. Following Starbucks' update, the analyst has increased confidence about its ability to generate continued top-line momentum. Regan now believes her previous forecast for the stock to double within five years could be conservative. The analyst reiterated a $100 price target and Overweight rating on the shares. Meanwhile, JPMorgan analyst John Ivankoe was impressed by the company's store expansion plans, sales driving initiatives, and margin enhancing measures, he wrote in a note to investors today. The company looks poised to increase its profits 15%-20% through 2016, and arguably through 2019 as well, Ivankoe stated. Starbucks is a classic, long-term core growth stock, added the analyst, who raised his price target on the name to $89 from $82 and kept an Overweight rating on the shares. PRICE ACTION: In early afternoon trading, Starbucks gained nearly 3% to $83.58. Earlier, the stock set a new 52-week high of $83.92.
11:17 EDTCVXPhillips 66 announces 2015 capital budget of $4.6B
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09:36 EDTAMZNActive equity options trading
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08:11 EDTDECKDeckers Outdoor well positioned for strong Q3 finish, says Canaccord
Canaccord believes Deckers Outdoor is well positioned for a strong Q3 finish, as its low quarter-to-date order cancellation rate bodes well for the company. The firm sees its weatherized boot category selling well, which supports the firm's belief that sales of Uggs are tracking ahead do guidance. Canaccord reiterated its Buy rating and $108 price target on Deckers Outdoor shares.
07:43 EDTCVXLondon bankers see oil slump spurring energy industry consolidation, WSJ reports
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07:32 EDTSBUXStarbucks price target raised to $89 from $82 at JPMorgan
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06:53 EDTSBUXPiper sees Starbucks shares doubling within four years
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06:53 EDTFFord's China sales rose 2% in November, Reuters says
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