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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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April 9, 2014
05:38 EDTCSCredit Suisse downgraded to Underweight from Neutral at JPMorgan
JPMorgan downgraded Credit Suisse to Underweight citing concerns over the bank's investment bank strategy.
April 8, 2014
11:02 EDTHUMHumana now sees 2015 CMS Medicare Advantage funding decline of 3%
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10:18 EDTHUMCMS says Medicare Advantage reimbursement to rise in 2015
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09:23 EDTHUMLeerink views final rates as favorable for MA plans
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08:03 EDTORCLOracle management to meet with Deutsche Bank
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06:26 EDTCSYodle planning IPO for 2014, WSJ reports
Online advertising company Yodle is planning an IPO for the second half of the year, the Wall Street Journal reports. Sources say the startup has selected Credit Suisse (CS) and Deutsche Bank (DB) for the offering, which could raise about $100M. Reference Link
April 7, 2014
19:13 EDTHUMCMS issues 2015 rate announcement for Medicare Advantage and Part D programs
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17:43 EDTORCLFour Oracle insiders sold $69.5M in stock, Barron's says
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09:00 EDTORCLOracle management to meet with Deutsche Bank
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07:45 EDTGCINoble Financial Capital Markets to hold a forum
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06:58 EDTCSDark markets could cause more harm than high-frequency trading, Reuters says
After a book by financial author Michael Lewis sparked worries that high-speed traders have been rigging the U.S. stock market, former regulators and academics say a more serious threat to investors could be the increasing amount of trading that happens outside of exchanges, reported Reuters. Top internalizers include units of KCG Holdings (KCG), Citadel, UBS (UBS), and Citigroup (C). Dark pool operators include Credit Suisse (CS) and Morgan Stanley (MS). In an attempt to earn back some of the retail orders, exchanges such as IntercontinentalExchange Group's (ICE) New York Stock Exchange, Nasdaq (NDAQ), and BATS Global Markets, have allowed brokerages to place dark pool-style orders on their platforms, with the trade hidden until after it is executed. Reference Link
06:28 EDTCSNew York launches probe of Credit Suisse, NY Times says
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April 4, 2014
10:00 EDTYOKUYouku Tudou falls 6.3%
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06:26 EDTCSRoyal Bank of Scotland names Ewen Stevenson as CFO
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April 3, 2014
09:14 EDTORCLOn The Fly: Pre-market Movers
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07:23 EDTORCLWells Fargo to hold a summit
4th Annual Tech Transformation Summit is being held in San Francisco on April 2-3 with webcasted company presentations to begin on April 3 at 11 am; not all company presentations may be webcasted.Webcast Link
05:47 EDTCSCredit Suisse announces charge of CHF 468M for litigation provision
Credit Suisse said its preliminary results for 2013 were updated to reflect an additional after-tax charge of CHF 468M, primarily due to an increase in the litigation provision relating to the ongoing United States Department of Justice investigation into the U.S. tax-related matter. As a result, Credit Suisse reported a net loss of CHF 476M for Q4. For the full year 2013, reported core results pre-tax income was CHF 3.5B, compared to CHF 1.89B in 2012, and reported 2013 net income attributable to shareholders was CHF 2.3B, compared to CHF 1.35B in 2012. Credit Suisse’s Look-through Total Capital ratio was 15.7%, Look-through Basel III CET1 ratio was 10.0%, and Basel III CET1 ratio was 15.7% as of the end of 2013.
April 2, 2014
18:51 EDTORCLOn The Fly: After Hours Movers
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16:44 EDTORCLFusion-io collaborates with Oracle on flash-aware interfaces for MySQL
Fusion-io (FIO) announced collaboration with Oracle (ORCL) on the development of flash-aware interfaces for MySQL. These interfaces include NVM Compression, a flash-aware interface that can double the usable capacity of Fusion ioMemory flash while eliminating the performance impact associated with disk-era compression and Atomic Writes, an interface that enables more efficient database commits when running on flash memory. Together, these flash-aware interfaces allow MySQL to deliver up to 4x more flash endurance by streamlining commands to help optimize databases for persistent flash memory architectures.
08:43 EDTCSNAREIT to hold a conference
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