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Stock Market & Financial Investment News

News Breaks
July 25, 2014
16:18 EDTP, V, TRLA, AMZN, WCG, ZOn The Fly: Closing Wrap
Stocks began the session in negative territory and remained there throughout the day. Earnings and guidance disappointments from a few notable names, particularly Visa (V) and Amazon.com (AMZN), put pressure on the averages from the outset. Buyers moved to the sidelines ahead of the weekend, as reports circulated that no truce accord was reached in Israel and that Russia was building up its troop presence along the Ukrainian border. Also late in the day, Goldman Sachs warned that it believes a sell-off in bonds could lead to a temporary sell-off in equities over the next three months. However, Goldman also noted that it has "strong conviction" that equities are the best positioned asset class over the next 12 months. ECONOMIC EVENTS: In the U.S., durable goods orders rebounded 0.7% in June after a 1.0% decline in the prior month, beating expectations for June increase of 0.5%. COMPANY NEWS: Shares of Amazon fell $34.60, or 9.65%, to $324.01 after the e-commerce giant reported in-line second quarter revenue but a much higher than expected loss. A number of analysts responded to the news by downgrading the stock, while several others cut their price targets on the shares... Visa reported Q3 earnings per share and revenue that topped consensus forecasts. However, the company trimmed its fiscal year revenue growth view to be in the 9%-10% range from its prior forecast for low double-digit constant revenue growth of around 10%-11%. Shares of the Dow Jones Industrial Average component slid $7.97, or 3.58%, to $214.77 following the report and guidance. MAJOR MOVERS: Among the notable gainers were online real estate listing companies Zillow (Z) and Trulia (TRLA), which climbed for a second session in a row after Bloomberg reported yesterday that the former was negotiating to buy the latter. Deutsche Bank analyst Lloyd Walmsley wrote in a note to investors that the Bloomberg story is "credible" as there is a "compelling" rationale for the companies to combine and Zillow ended the day up $13.10, or 8.99%, at $158.86 while Trulia added another $2.61, or 4.86%, to close at $56.35. Among the noteworthy losers was WellCare (WCG), which plunged $15.24, or 19.83%, to $61.61 after the managed care company pre-announced significantly weaker than expected results. Also lower following its earnings report and guidance was online music service operator Pandora (P), which declined $2.97, or 10.34%, to $25.75. INDEXES: The Dow fell 123.23, or 0.72%, to 16,960.57, the Nasdaq dropped 22.54, or 0.5%, to 4,449.56, and the S&P 500 slid 9.64, or 0.48%, to 1,978.34.
News For AMZN;V;Z;TRLA;P;WCG From The Last 14 Days
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August 24, 2015
06:34 EDTAMZNIntel leads $100M funding round for Mirantis, WSJ reports
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06:27 EDTAMZNRoku tops Google in streaming media device sales, Parks Associates says
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06:08 EDTAMZNAmazon keeps pushing back Prime Fresh trial end date, Re/code reports
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August 23, 2015
18:44 EDTAMZNACLU offers legal representation to Amazon employees
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August 21, 2015
16:34 EDTAMZNMarket enters correction territory in worst week in four years
For the week, stocks plummeted amid concerns about a slowing Chinese economy and declining oil prices. MACRO NEWS: Monday, the Empire State manufacturing index crashed to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009... Meanwhile, the NAHB homebuilder sentiment index rose to 61 in August from 60 in June, matching consensus estimates... Tuesday, July housing starts edged up 0.2% to 1.206M, beating consensus estimates for 1.180M in the best reading since October 2007. Building permits, however, fell 16.3% to 1.119M against expectations for 1.230M, while single family starts rose 12.8% and multifamily numbers fell 17.0%... Wednesday, the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%... Meanwhile, FOMC minutes showed no definitive indication of a September rate hike... Thursday, initial jobless claims rose to 277,000 from a revised 273,000, bringing the 4-week moving average to 271,500... The Philadelphia Fed index rose 2.6 points to 8.3 in August, beating expectations for a 7.5 reading... Friday, the PMI Manufacturing Index Flash for August came in at a level of 52.9, below the prior level of 53.8 and the consensus level of 54.2. COMPANY NEWS: Monday, Liberty Interactive (QVCA) announced an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B. The acquisition will be attributed to Liberty's QVC tracking stock, though the companies specified that QVC and zulily will operate as separate brands... Amazon (AMZN) founder and CEO Jeff Bezos downplayed a recent New York Times critique of the company's workplace practices, telling employees in an email that "the article doesn't describe the Amazon I know or the caring Amazonians I work with every day..." Tuesday, Wal-Mart (WMT) cut its full year earnings outlook, with company executives on a subsequent conference call expressing confidence in China but noting that Brazil and U.K. remain challenging markets for the company... Wednesday, Seagate Technology (STX) agreed to acquire Dot Hill Systems (HILL) for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016... Thursday, Valeant (VRX) agreed to acquire Sprout Pharmaceuticals for roughly $1B in cash plus a profit-sharing agreement, adding that it expects to bring the company's recently-approved female sexual dysfunction drug Addyi to the U.S. by Q4... Friday, Steiner Leisure (STNR) entered into a definitive merger agreement where an affiliate of Catterton will acquire all of the outstanding shares of Steiner for $65 per share in cash. INDEXES: For the week, the Dow lost about 5.79% to close at 16,459.75, the Nasdaq declined about 6.71% to close at 4,706.04, and the S&P 500 fell about 5.73% to close at 1,970.89.
16:01 EDTAMZNOptions Update; August 21, 2015
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13:50 EDTAMZNOn The Fly: Weekly technical notes, Gold, S&P 500, Germany, China, Energy
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11:38 EDTAMZNAmazon.com heads back toward session lows
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11:13 EDTAMZNStocks with call strike movement; AMZN TWTR
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11:12 EDTAMZNQualcomm reportedly to enter consumer drone market
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August 20, 2015
18:59 EDTAMZNGoogle, Amazon, private equity compete for Indian data center unit, ET says
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18:20 EDTAMZNAuthors Group urges DOJ probe of Amazon.com, WSJ reports
Authors United group is urging the DOJ to launch an investigation into Amazon.com, claiming the company has "unprecedented power" over the book publishing market, the Wall Street Journal reports. Reference Link
16:33 EDTAMZNAmazon.com to open fifth Texas fulfillment center in San Marcos
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14:07 EDTVVisa bounces higher after Sky News report of European merger
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13:22 EDTVVisa mulls $21B bid to merge U.S., European units, Sky News reports
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13:18 EDTAMZNAmazon.com falls, levels to watch
The shares are down 2.8% at time of writing to $517.99. The last established support level before the large bullish gap from last earnings is at $513.06. If that level is taken out on the downside, a gam fill will begin. And the chart will be left with a blow-off top formation. Resistance is at $522.62.
12:56 EDTAMZNSmall drones bringing air traffic problems in U.S., Washington Post reports
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08:20 EDTVVisa management to meet with Pacific Crest
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06:05 EDTAMZNAmazon Web Services to open data support center in London, Financial Times says
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05:56 EDTAMZNGoogle Express to shut down two California delivery hubs, Re/code says
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