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Stock Market & Financial Investment News

News Breaks
February 4, 2013
12:16 EDTAPKT, CS, CYBX, ORCL, YOKU, GCI, SONS, BRO, HUMOn 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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February 23, 2015
12:21 EDTHUMOn The Fly: Midday Wrap
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11:10 EDTHUMHealth insurers rise after CMS releases preliminary Medicare Advantage rates
The shares of a number of health insurers are rising after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for health insurers. WHAT'S NEW: On Friday after the market closed, CMS issued a proposal for 2016 Medicare Advantage rates. The rates are preliminary and could change when CMS announces the final 2016 rates on April 6 of this year, the agency noted. In a note to investors earlier today, Credit Suisse analyst Ralph Giacobbe estimated that, under CMS' initial proposal, insurers would see rate changes of between -1% and +1%, depending on the risk that each insurer faces. The preliminary rates were "favorable" for insurers, since the rates were "in-line if not slightly better" than investors had expected, the firm stated. Moreover, CMS decided not to restrict at-home health risk assessments, as had been feared, and agreed to reduce the weighting of certain risk factors that had hurt previously certain plans with a higher proportion of low-income beneficiaries, acceding to a request by insurers. Insurers with the highest exposure to Medicare Advantage include Humana (HUM), UnitedHealth (UNH), and WellCare (WCG), the analyst stated. WHAT'S NOTABLE: After analyzing CMS' proposal, health insurer Aetna (AET) estimated that the proposal would cause government funding for its Medicare Advantage business to decline by about 1% in 2016. Aetna added that it is continuing to evaluate the changes outlined in the Advance Notice and their impact on the company and its Medicare Advantage members. OTHERS TO WATCH: Other publicly traded health insurance companies include Anthem (ANTM), AMERIGROUP (AGP), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), and Molina Healthcare (MOH). PRICE ACTION: In mid-morning trading, Humana climbed 5.3% to $164.43, UnitedHealth rose 2.6% to $115.56, WellCare gained 6.3% to $90, Aetna advanced 2% to $99.91, and Centene added 3.4% to $61.93.
09:33 EDTHUMHumana 'evaluating all operational avenues' after CMS notice
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08:05 EDTHUMCMS releases preliminary Medicare Advantage rates for 2016
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February 20, 2015
10:20 EDTCSHigh option volume stocks
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February 19, 2015
14:21 EDTCSS&P reportedly says Greece contagion not a major risk, Reuters reports
The risk of contagion spreading from Greece to other European countries is not that large, a German newspaper quoted S&P's chief sovereign ratings officer as saying, according to Reuters. The euro zone would be able to handle an exit of the bloc by Greece, the ratings officer was quoted as saying, Reuters reported. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
11:04 EDTORCLOracle unveils new big data solutions
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10:42 EDTHUMHumana discloses DoJ Civil Division request for information
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08:16 EDTSONSSonus share pullback yesterday 'inexplicable,' says Jefferies
Jefferies says yesterday's sell-off in shares of Sonus is "inexplicable" and "at odds" with the reported Q4 results. The firm calls Sonus's Q4 gross margin "very strong" and notes its Q1 and 2015 guidance were in line with consensus. Jefferies sees a compelling entry point at current levels and keeps a Buy rating on Sonus with a $25 price target.
08:11 EDTSONSSonus weakness likely provides buying opportunity, says Wells Fargo
After Sonus reported Q4 sales in-line with its recently reduced guidance but reiterated its Q1 and 2015 guidance, Wells Fargo believes that the company's growth and profitability is likely to improve through 2015. Consequently, the firm thinks the sell-off following the company's results is likely to prove to be an attractive entry point, It keeps an Outperform rating on the shares.
06:07 EDTSONSSonus weakness a buying opportunity, says B. Riley
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06:04 EDTCSFCA to investigate investment and corporate banking
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February 18, 2015
07:06 EDTSONSSonus sees Q1 EPS 3c, consensus 4c
Sees Q1 revenue $74M, consensus $73.58M. Sees Q1 gross margin 67%-67.5%.
07:06 EDTSONSSonus sees FY15 EPS 54c-58c, consensus 56c
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07:05 EDTSONSSonus reports Q4 adjusted EPS 15c, consensus 15c
Reports Q4 revenue $76.8M, consensus $77.22M.
06:56 EDTHUMObamacare enrollment exceeded goal, Politico reports
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04:55 EDTORCLStocks with implied volatility movement; MO ORCL
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February 17, 2015
15:32 EDTSONSNotable companies reporting before tomorrow's open
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February 16, 2015
17:24 EDTORCLFIS, Oracle among those exploring Monitise bid, Sky News reports
FIS (FIS) is among the U.S. companies considering a takeover bid for Monitise, the UK mobile banking software manufacturer which put itself up for sale last month, Mark Kleinman of Sky News reports. Other possible bidders include Oracle (ORCL) and IBM (IBM), Kleinman added. He pointed out that all of the takeover discussions are said to be at an early stage. Reference Link
February 15, 2015
16:36 EDTCSCredit Suisse could rise over 20%, Barron's says
Credit Suisse shares continue to look cheap and shares could see a 20% upside and a 3.3% dividend this year, Barron's contends in a feature article. Reference Link
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