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Stock Market & Financial Investment News

News Breaks
August 7, 2014
10:00 EDTESYJY, VOD, UNH, THOR, SD, FUEL, RLOC, PERI, NUS, NSPH, MNTX, XXIA, CPA, ATML, AET, ANADOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ANADIGICS (ANAD) downgraded to Hold from Buy at Craig-Hallum... Aetna (AET) downgraded to Neutral from Buy at Goldman... Atmel (ATML) downgraded to Neutral from Buy at BofA/Merrill... Copa Holdings (CPA) downgraded to Equal-Weight from Overweight at Evercore... Ixia (XXIA) downgraded to Hold from Buy at Jefferies... Manitex (MNTX) downgraded to Neutral from Buy at Global Hunter... Nanosphere (NSPH) downgraded at Craig-Hallum... Nu Skin (NUS) downgraded to Neutral from Overweight at JPMorgan... Perion Network (PERI) downgraded to Hold from Buy at Needham... ReachLocal (RLOC) downgraded to Neutral from Overweight at Piper Jaffray... Rocket Fuel (FUEL) downgraded to Equal Weight from Overweight at First Analysis... SandRidge Energy (SD) downgraded to Neutral from Accumulate at Global Hunter... Thoratec (THOR) downgraded to Neutral from Buy at BTIG... UnitedHealth (UNH) downgraded to Buy from Conviction Buy at Goldman... Vodafone (VOD) downgraded to Market Perform from Outperform at Raymond James... easyJet (ESYJY) downgraded to Equal Weight from Overweight at Barclays.
News For ANAD;AET;ATML;CPA;XXIA;MNTX;NSPH;NUS;PERI;RLOC;FUEL;SD;THOR;UNH;VOD;ESYJY From The Last 14 Days
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October 16, 2014
06:01 EDTUNHUnitedHealth reports Q3 EPS $1.63, consensus $1.53
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October 15, 2014
18:33 EDTCPACopa Holdings reports September ASM up 9.6% to 1.72M, RPM up 1.9% to 1.22M
For the month of September, Copa Holdings' system-wide passenger traffic increased 1.9% year over year, while capacity increased 9.6%. As a result, September system load factor was 70.8%, down 5.3% vs. September 2013.
16:37 EDTNUSOn The Fly: Closing Wrap
The market opened sharply lower amid sliding oil prices, worse than expected economic data, and the potential for a major M&A deal to fall apart due to tax inversion rule changes. The Dow fell more than 350 points within the first 30 minutes of trading, but then bounced back to move above its opening level. The volatility did not end there, however, as the market swung several more times during the session. The S&P 500's drop wiped out its gains for the year at one point, but a late day rally significantly cut the losses for the major averages. ECONOMIC EVENTS: In the U.S., retail sales, which were expected to be down 0.1% in September, actually fell 0.3% in the month and slipped 0.2% excluding autos. The Producer Price Index for final demand decreased a seasonally adjusted 0.1% in September from the prior month, marking the first decline in the measure in over a year. The core PPI reading, which excludes food and energy, was unchanged, versus expectations for a 0.1% rise. New York's Empire State manufacturing index fell 21.4 points to 6.2 in October, severely missing the expectation for a narrower pullback to a reading of 20. Business inventories rose 0.2% in August, versus expectations for an increase of 0.4%. In China, the consumer price index climbed 1.6% in September from a year earlier, which was below the consensus projection for 1.7% inflation and down from 2% inflation in August. China's PPI plunged 1.8% year-over-year in September, which was more than the 1.6% slide expected and an acceleration of the 1.2% year-on-year decline in August. COMPANY NEWS: Shares of Shire (SHPG) plunged $74.08, or 30.29%, to $170.49 after AbbVie's (ABBV) board last night stated that it was reconsidering its recommendation that the company's shareholders back a takeover of Irish drugmaker in light of the potential impact of tax rule changes on the deal. During the day, Bloomberg reported that people familiar with the matter say AbbVie is close to abandoning its $51B takeover bid, while Shire announced that it has agreed to waive the requirement for three business days' notice for AbbVie's board to meet to consider its offer. In contrast, AbbVie ended the session up 50c, or 0.92%, at $54.63... Wal-Mart (WMT) held its annual meeting, during which it lowered its fiscal year 2015 net sales growth forecast to 2%-3%, citing a tougher sales environment than it anticipated a year ago. The company indicated in February that it expected net sales growth to be at the low end of its guidance provided last October of 3%-5%. The world's largest retailer also cut its planned retail square foot growth expectations, due to a moderation of large format store growth and accelerated e-commerce investments. Following the outlook revisions, Wal-Mart closed down $2.78, or 3.57%, to $75.20. MAJOR MOVERS: Among the notable gainers was Penford Corporation (PENX), which jumped $7.60, or 69.15%, to $18.59 after the company agreed to be acquired by Ingredion (INGR) for $340M, or $19.00 in cash per share. Also higher was Southwestern Energy (SWN), which rose $2.59, or 7.82%, to $35.69 after it was among a number of oil and gas exploration and production names upgraded by analysts at Bank of America Merrill Lynch. Among the noteworthy losers was Nu Skin (NUS), which dropped $4.47, or 9.13%, to $44.50 after the company disclosed new debt arrangements that come with certain restrictions, including restrictions on the payment of dividends. Also lower were shares of Covidien (COV), which fell $6.50, or 7.04%, to $85.86 in the wake of the news for Shire and AbbVie, which investors may have read as jeopardizing Covidien's deal to be bought by Medtronic (MDT). Note that on October 3 Medtronic announced that it intends to use approximately $16B in external financing to complete the acquisition of Covidien and said the strategic benefits of the transaction "remain compelling" despite the additional expense of the new financing. INDEXES: The Dow dropped 173.45, or 1.06%, to 16,141.74, the Nasdaq slipped 11.85, or 0.28%, to 4,215.32, and the S&P 500 fell 15.21, or 0.81%, to 1,862.49.
15:28 EDTUNHNotable companies reporting before tomorrow's open
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13:52 EDTAETAetna will not renew contract for Delaware Medicaid program
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11:27 EDTNUSNu Skin falls after announcing debt deal, related restrictions
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11:23 EDTNUSNu Skin not restricted from making dividend payments, says Deutsche Bank
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11:11 EDTNUSNu Skin shares defended at Deutsche Bank
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09:36 EDTSDSandRidge Energy downgraded to Underperform from Neutral at Credit Suisse
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07:22 EDTVODVodafone Italian head does not see Fastweb agreement terms, Reuters says
Vodafone's Italian head Aldo Bisio said that he does not see agreement terms for company to purchase Fastweb at this time, according to Reuters, citing comments from Bisio. Reference Link
06:04 EDTSDStocks with implied volatility above IV index mean; PWE SD
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October 14, 2014
17:03 EDTRLOCArmistice Capital reports 5.8% passive stake in ReachLocal
07:05 EDTUNHUnitedHealth October volatility elevated into Q3 and guidance
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05:58 EDTSDStocks with implied volatility above IV index mean; HTZ SD
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05:23 EDTVODVodafone initiated with a Buy at Deutsche Bank
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October 13, 2014
09:21 EDTNSPHOn The Fly: Pre-market Movers
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08:09 EDTNSPHNanosphere reports FDA clearance for Verigene EP Nucleic Acid Test
Nanosphere announced it has received 510(k) clearance from the FDA for its Verigene Enteric Pathogens Nucleic Acid Test, or EP, which now includes additional viral targets, as well as the bacterial and toxigenic targets cleared by FDA earlier this summer.
08:07 EDTATMLAtmel partners with IHR in automotive electronics
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07:25 EDTTHOREuropean Association of Cardiothoracic Surgery to hold annual meeting
28th EACTS Annual Meeting is being held in Milan, Italy on October 11-15.
07:15 EDTUNHNational Association of Corporate Directors to hold a conference
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