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Stock Market & Financial Investment News

News Breaks
January 14, 2013
10:07 EDTDRQ, S, AON, WFC, HRB, SNI, ODFL, JDSU, EMC, VAR, ARG, RUSHA, NOK, IBM, AXP, SPWR, WERN, PXP, MXIM, HUN, ARMHOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARM Holdings (ARMH) downgraded to Neutral from Overweight at Piper Jaffray... American Express (AXP) downgraded to Neutral from Buy at Goldman... EMC (EMC) downgraded to Neutral from Overweight at JPMorgan... Huntsman (HUN) downgraded to Market Perform from Outperform at Wells Fargo... IBM (IBM) downgraded to Neutral from Overweight at JPMorgan... JDSU (JDSU) downgraded to Neutral from Buy at Goldman... Maxim Integrated (MXIM) downgraded to Neutral from Outperform at Credit Suisse... Nokia (NOK) downgraded to Underweight from Equal Weight at Barclays... Old Dominion (ODFL) downgraded to Hold from Buy at Deutsche Bank... Plains Exploration (PXP) downgraded to Neutral from Positive at Susquehanna... Rush Enterprises (RUSHA) downgraded to Hold from Buy at Wunderlich... Scripps Networks (SNI) downgraded to Hold from Buy at Deutsche Bank... Werner (WERN) downgraded to Hold from Buy at Deutsche Bank... Airgas (ARG) downgraded to Neutral from Buy at BofA/Merrill... H&R Block (HRB) downgraded to Underweight from Equal Weight at Morgan Stanley... SunPower (SPWR) downgraded to Sell from Underperform at CLSA... Varian Medical (VAR) downgraded to Neutral from Buy at Lazard Capital... Wells Fargo (WFC) downgraded to Perform from Outperform at Oppenheimer... Aon Corp. (AON) downgraded to Neutral from Buy at Sterne Agee... Sprint (S) downgraded to Neutral from Overweight at JPMorgan... Dril-Quip (DRQ) downgraded to Accumulate from Buy at Global Hunter.
News For ARMH;AXP;EMC;HUN;IBM;JDSU;MXIM;NOK;ODFL;PXP;RUSHA;SNI;WERN;ARG;HRB;SPWR;VAR;WFC;AON;S;DRQ From The Last 14 Days
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November 14, 2014
12:53 EDTSOmega Advisors gives quarterly update on stakes
NEW STAKES: AerCap Holdings (AER), Nordic American Offshore (NAO), Melco Crown Entertainment (MPEL), Groupon (GRPN), and Ashland (ASH). INCREASED STAKES: QEP Resources (QEP), United Continental (UAL), Cabot Oil & Gas (COG), Actavis (ACT), and KAR Auction Services (KAR). DECREASED STAKES: Sprint (S), SandRidge Energy (SD), Sirius XM Holdings (SIRI), Kinder Morgan (KMI), and Transocean (RIG). LIQUIDATED STAKES: QUALCOMM (QCOM), Ocwen Financial (OCN), Freeport-McMoRan (FCX), Boston Scientific (BSX), and Capital One (COF).
07:32 EDTHUNHayman Capital gives quarterly update on stakes
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06:23 EDTNOKNokia to host Capital Markets Day
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November 13, 2014
17:35 EDTWFCOcwen unit signs mutual termination agreement with Wells Fargo
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17:32 EDTWFCWells Fargo, Ocwen agree to cancel sale of mortgage servicing rights
Wells Fargo & Co. (WFC) announced that its subsidiary, Wells Fargo Bank, N.A., and Ocwen Loan Servicing have mutually decided to cancel a previously announced sale to Ocwen of certain Wells Fargo residential mortgage servicing rights. Cancelation of the transaction is not expected to be material to Wells Fargo’s consolidated financial results.
13:28 EDTIBMBlackBerry hits 52-week high after unveiling partnerships
Shares of BlackBerry (BBRY) hit a new 52-week high after the company announced three new partnership deals. The company is slated to hold its analyst day today, starting at 3:30 PM ET. WHAT'S NEW: BlackBerry announced that it would partner with Samsung to provide a security solution for the South Korean company's mobile devices that utilize Google's (GOOG) Android operating system. Under the deal, BlackBerry’s BES12, an Enterprise Mobility Management system, or EMM that was launched today, will be integrated with some of Samgung's Galaxy smartphones and tablets. BES 12 "securely manages devices from all of the major enterprise mobile platforms" and "will help organizations securely connect employees with each other and with the corporate information and machines” they need, BlackBerry stated. Also today, Blackberry announced that it would connect its EMM solutions to Salesforce's (CRM) top customer relationship management platform. "This agreement will allow Salesforce and BlackBerry joint customers to run their businesses from their phone while complying with specific industry regulations," said Vivek Kundra, a Salesforce Executive Vice President in a statement. "BlackBerry has an excellent reputation in security and networks, and when matched with the Salesforce Customer Success Platform, public sector organizations can use their mobile devices to connect with customers in a whole new way," added Kundra. Finally, BlackBerry announced that Brightstar would distribute BES 12. BlackBerry described Brightstar as "the world's largest wireless distribution company and leader in services for the wireless industry." WHAT'S NOTABLE: BES12 is expected to compete with Apple (AAPL) in the enterprise space. Apple earlier this year announced that it was partnering with IBM (IBM) in an effort to sell more products to corporate customers. PRICE ACTION: In mid-afternoon trading, BlackBerry jumped 6% to $11.95. Earlier today the shares set a new 52-week high of $12.05.
12:53 EDTWFCWells Fargo sees Q4 mortgage originations to decline from Q3
Expects Q4 mortgage originations to decline from Q3, reflecting normal seasonality in purchase market, while gain on sale margin is expected to remain within range of last four quarters. Expects to operate within targeted efficiency ratio range of 55%-59% in Q4. Wells Fargo said that while there is potential for continued net interest margin pressure, focus remains on growing net interest income over time. The comapny said it expects future reserve releases absent signification deterioration in the economy, but expect a lower level of future releases as the rate of improvement in credit loans and loan portfolio grows. Expects share count to continue to decline in Q4 as result of anticipated net share repurchases. Says mortgage business profitable and very pleased with that segment. Comments taken from slides for presentation at Bank of America Merrill Lynch Banking and Financial Services Conference.
12:02 EDTIBMIBM signs 10-year, large-scale services agreement with WOOX Innovations
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10:10 EDTAXPAmerican Express CFO sees opportunity to change cardmember mindset on borrowing
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10:01 EDTAXP, EMCOn The Fly: Analyst Initiation Summary
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10:01 EDTAXPAmerican Express CFO sees high-growth rate in cash-back products
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09:33 EDTHRBH&R Block downgraded to Neutral from Buy at Northcoast
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09:29 EDTSPWRSunPower to host analyst day
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09:12 EDTSPWRSunPower and Castaic Lake Water Agency begin 3.5MW solar expansion project
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08:45 EDTSPWRSunPower sees Q4 GAAP EPS $1.00-$1.25, may not compare to consensus 33c
Sees Q4 GAAP revenue $1.12B-$1.17B, may not compare to consensus $624.06M.
08:41 EDTSPWRSunPower sees FY15 adjusted EPS $1.10-$1.50, consensus $1.31
Sees FY15 non-GAAP revenue $2.4B-$2.6B, consensus $2.80B. Sees FY15 GAAP revenue $2.4B-$2.6B. Sees FY15 gross margin 21%-23%. Sees Fy15 CapEx $300M-$350M.
08:33 EDTWFCWells Fargo sells federal student loans to Navient
Wells Fargo & Co. (WFC) Education Financial Services announced that Navient (NAVI) will purchase a principal balance of $8.5B of Federal Family Education Loan Program loans, which are included in Wells Fargo’s held-for-sale loan portfolio. Due to a change in federal law, Wells Fargo has not issued federal student loans since June 30, 2010. This sale supports Wells Fargo’s ongoing strategic focus on its private student lending business. “By selling these FFELP loans to Navient, Wells Fargo will be in a position to focus more on meeting the needs of our private student loan customers,” said John Rasmussen, head of Wells Fargo’s Education Financial Services. “We are deeply committed to the private student loan business because next to purchasing a home or saving for retirement, paying for an education is one of the most important financial events for our customers.” ). The sale is expected to close in a series of transactions, substantially all of which are expected to be completed in fourth quarter 2014, subject to customary closing conditions. Terms of the transaction were not disclosed and the sale is not material to Wells Fargo.
08:14 EDTEMCEMC initiated with a Hold at Maxim
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06:17 EDTSNISony unveils PlayStation Vue, a cloud-based TV service
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05:36 EDTAXPAmerican Express initiated with a Hold at Deutsche Bank
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