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Stock Market & Financial Investment News

News Breaks
February 4, 2013
12:16 EDTBRO, HUM, APKT, CS, CYBX, ORCL, YOKU, GCI, SONSOn The Fly: Midday Wrap
Stocks on Wall Street were sharply lower at midday, with the major averages giving back most or all of Friday's gains. The indices began the session deep in negative territory and remain that way near the lunch hour. There was little on the domestic economic calendar to account for the weakness, but some market participants were attributing the move to profit-taking following a strong start to the year along with political concerns resurfacing in Europe... ECONOMIC EVENTS: In the U.S., the ISM New York area reading of 56.7 was ahead of the expected reading of 53.0. A separate report showed factory orders increased 1.8% in December, versus an expected increase of 2.3%. In Europe, Spanish and Italian government bond yields rose following political developments in both countries. Spain's opposition Socialist Party called on Prime Minister Mariano Rajoy to resign over a corruption scandal, while in Italy former PM Silvio Berlusconi's popularity is seeing a resurgence, which may threaten the reforms implemented by the outgoing government. In Asia, a report over the weekend showed China's non-manufacturing PMI ticked up to 56.2 from 56.1 last month... COMPANY NEWS: Shares of Acme Packet (APKT) surged 22.2% and traded at the $29.25 price it agreed to in a deal to be acquired by Oracle (ORCL). Several companies offering solutions in the same technology area advanced as well, particularly Sonus Networks (SONS), which climbed over 13%. Meanwhile, Oracle slid a bit more than 2% following the deal announcement... Among companies reporting earnings this morning, Humana (HUM) advanced while Gannett (GCI) declined... MAJOR MOVERS: Among the notable gainers was Cyberonics (CYBX), which rallied 8% after a former employee dropped a lawsuit against the company. Also higher were shares of Brown & Brown (BRO), which rose 5.5% after it reported quarterly results after the bell Friday and was upgraded to Outperform at Raymond James this morning. Among the noteworthy losers were Youku Tudou (YOKU), which fell over 6% after Maxim downgraded shares to a Sell rating, and Credit Suisse (CS), down nearly 6% as well following an initiation of coverage with a Hold rating at Canaccord... INDICES: Near noon, the Dow was down 139.75, or 1.00%, to 13,870.04; the Nasdaq was down 41.09, or 1.29%, to 3,138.01; and the S&P 500 was down 15.94, or 1.05%, to 1,497.23.
News For APKT;SONS;ORCL;HUM;GCI;CYBX;BRO;YOKU;CS From The Last 14 Days
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July 27, 2015
11:01 EDTORCLFederal Court increase damages amount Oracle can seek against Rimini Street
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10:29 EDTCSCase against Credit Suisse over 'dark pools' prepped by NY AG, Fox Business says
New York Attorney General Eric Schneiderman is readying to bring a civil case against Credit Suisse over high-frequency trading abuses through its Crossfinder “dark pools,” according to Fox Business' Charlie Gasparino. Reference Link
08:43 EDTYOKUChina Internet consumer demand stable, healthy, says Pacific Crest
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08:10 EDTHUMLeerink sees at least 60% chance of Anthem, Cigna deal being approved
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06:58 EDTORCLOracle using 'nuclear option' to sell its cloud products, Business Insider says
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05:20 EDTCYBXCyberonics, Sorin announce intent to contest claim by Italian State's Attorney
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July 26, 2015
18:22 EDTHUMMedia reports say Teva to buy Allergan unit as it looks beyond Mylan
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July 23, 2015
06:32 EDTORCLOracle requests permission to update suit against Google, Reuters reports
Oracle (ORCL) has requested permission from a U.S. judge to update its copyright lawsuit against Google (GOOG) to include the Android operating system's current market dominance, Reuters reports. Oracle has said it wants the suit to add that Google continues its copyright infringement through updated versions of Android, the report says. Reference Link
05:47 EDTCSCredit Suisse reports Q2 EPS CHF 0.61 vs. (CHF 0.45) last year
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July 22, 2015
09:59 EDTCSCredit Suisse CEO considers possible acquisition, FT reports
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July 21, 2015
14:24 EDTORCLEarnings Watch: EMC reports amid M&A speculation in sector
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07:15 EDTORCLOracle management to meet with Deutsche Bank
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July 20, 2015
17:32 EDTBROBrown & Brown announces additional $400M share repurchase plan
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17:31 EDTBROBrown & Brown reports Q2 EPS 43c, consensus 44c
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15:01 EDTBRONotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include IBM (IBM), consensus $3.78... Canadian National Railway (CNI), consensus $1.05... Crown Holdings (CCK), consensus $1.01... Zions Bancorp (ZION), consensus 38c... Hexcel (HXL), consensus 61c... Brown & Brown (BRO), consensus 44c... Steel Dynamics (STLD), consensus 22c... Werner (WERN), consensus 42c.
10:05 EDTHUMHumana renews, lengthens SilverSneakers pact with Healthways
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07:07 EDTORCLOracle management to meet with Deutsche Bank
Meetings to be held in Montreal/Toronto on July 20 hosted by Deutsche Bank.
July 17, 2015
12:37 EDTCSFreddie Mac to expand risk-sharing efforts, Bloomberg reports
Freddie Mac (FMCC) plans to expand its risk-sharing efforts designed to protect taxpayers and potentially prepare the U.S. home loan market for its future, Bloomberg reports, citing a person familiar with the matter. In a planned $300M offering of mortgage-backed securities managed by Credit Suisse (CS), the government-backed company is set to sell $22.5M of junior ranking bonds without guarantees, the report says. Freddie Mac intends to hold a call for investors next week to discuss the transaction, the report adds. Reference Link
10:05 EDTCSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Accretive Health (ACHI) downgraded to Market Perform from Outperform at Cowen... Allergan (AGN) downgraded to Outperform from Top Pick at RBC Capital... Best Buy (BBY) downgraded to Underperform from Buy at BofA/Merrill... Cablevision (CVC) downgraded to Hold from Buy at Jefferies... Credit Suisse (CS) downgraded to Hold from Buy at Deutsche Bank... Domino's Pizza (DPZ) downgraded to Sector Weight from Overweight at KeyBanc... First Quantum Minerals (FQVLF) downgraded to Neutral from Outperform at Credit Suisse... First Republic (FRC) downgraded to Market Perform from Outperform at FBR Capital... Fresenius SE (FSNUY) downgraded to Neutral from Buy at Goldman... Golden Minerals (AUMN) downgraded to Neutral from Buy at Roth Capital... JD Wetherspoon (JDWPY) downgraded to Reduce from Neutral at Nomura... NV5 Holdings (NVEE) downgraded to Neutral from Accumulate at Global Hunter... National Oilwell (NOV) downgraded to Sell from Neutral at UBS... Natural Gas Services (NGS) downgraded to Neutral from Buy at Global Hunter... Primoris (PRIM) downgraded to Neutral from Accumulate at Global Hunter... Receptos (RCPT) downgraded to Hold from Buy at Evercore ISI... SKF AB (SKFRY) downgraded to Hold from Buy at Deutsche Bank... STAG Industrial (STAG) downgraded to Sell from Neutral at UBS... SolarWinds (SWI) downgraded to Hold from Buy at Deutsche Bank... Syntel (SYNT) downgraded to Market Perform from Outperform at William Blair... TECO Energy (TE) downgraded to Neutral from Buy at UBS... Tangoe (TNGO) downgraded to Underweight from Equal Weight at Barclays... Tegna (TGNA) downgraded to Hold from Buy at Evercore ISI.
05:28 EDTCSCredit Suisse downgraded to Hold from Buy at Deutsche Bank
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