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Stock Market & Financial Investment News

News Breaks
May 19, 2014
09:59 EDTPAY, THR, MIND, KMB, GNW, ESV, DTV, DB, CHA, CTL, AZN, ARCP, MO, ATKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ATK (ATK) downgraded to Neutral from Buy at Goldman... Altria Group (MO) downgraded to Market Perform from Outperform at Wells Fargo... American Realty (ARCP) downgraded to Neutral from Outperform at RW Baird... AstraZeneca (AZN) downgraded to Market Perform from Outperform at Leerink... CenturyLink (CTL) downgraded to Equal Weight from Overweight at Morgan Stanley... China Telecom (CHA) downgraded to Neutral from Buy at Goldman... Deutsche Bank (DB) downgraded to Underperform from Neutral at BofA/Merrill... DirecTV (DTV) downgraded to Hold from Buy at Wunderlich... Ensco (ESV) downgraded to Hold from Buy at Jefferies... Genworth (GNW) downgraded to Underweight from Equal Weight at Morgan Stanley... Kimberly Clark (KMB) downgraded to Hold from Buy at Argus... Mitcham Industries (MIND) downgraded to Accumulate from Buy at Global Hunter... Thermon Group (THR) downgraded to Hold from Buy at KeyBanc... VeriFone (PAY) downgraded to Neutral from Positive at Susquehanna.
News For ATK;MO;ARCP;AZN;CTL;CHA;DB;DTV;ESV;GNW;KMB;MIND;THR;PAY From The Last 14 Days
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October 21, 2014
09:01 EDTCTLCenturyLink and Switch SUPERNAP announce strategic agreement
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08:18 EDTDBBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
07:40 EDTKMBKimberly Clark reports Q3 Personal Care sales up 4% to $2.5B
Reports Q3 Consumer Tissue sales up 4% to $1.7B; Reports Q3 K-C Professional sales up 4% to $900M; Reports Q3 Health Care segment down 3% to $400M.
07:39 EDTKMBKimberly Clark reports restructuring costs in Western/Central Europe business
In October 2012, Kimberly-Clark initiated strategic changes to its Western and Central European businesses, including the exit of the diaper category, with the exception of the Italian market, divestiture or exit of some lower-margin businesses in certain markets, primarily in the consumer tissue segment, and streamlining of its manufacturing footprint and administrative organization. Related restructuring costs will be incurred through 2014 and are expected to be between $300 and $350 million after tax. Third quarter 2014 restructuring costs were $1 million pre-tax, bringing cumulative costs to $393 million pre-tax.
07:38 EDTKMBKimberly Clark initiates restructuring program, cto cut 1,100-1,300 employees
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07:37 EDTKMBKimberly Clark cuts FY14 adjusted EPS to $5.93-$6.03 from $6.00-$6.15
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07:34 EDTKMBKimberly Clark reports Q3 adjusted EPS $1.61, consensus $1.54
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07:15 EDTAZNFDA to hold workshop on breast cancer drug development
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06:52 EDTDBCiti purchasea Deutsche energy, metals book, Reuters says
Citigroup (C) acquired Deutsche Bank's (DB) energy and metals book, which is the U.S. company's latest expansion effort in commodities trading as some of its competitors look to exit that sector, according to Reuters, citing a source familiar with the matter. Reference Link
06:10 EDTAZNInovio, MedImmune, UPENN awarded $12.2M collaborative study by DARPA
Inovio Pharmaceuticals (INO) announced the Defense Advanced Research Projects Agency, or DARPA, has awarded $12.2M for a collaborative study that will be conducted by scientists from the Perelman School of Medicine at the University of Pennsylvania; Inovio Pharmaceuticals; and MedImmune, the global biologics research and development arm of AstraZeneca (AZN). The group will develop DNA-based monoclonal antibodies, or mAbs, for infectious disease treatment. DARPA is an agency of the US Department of Defense that creates and supports novel technologies important for national security. Together, the three organizations will develop and assess the DNA mAbs in preclinical studies using technology developed by Penn and licensed by Inovio. The collaboration will focus on three disease areas – influenza virus, Pseudomonas aeruginosa and Staphylococcus aureus.
October 20, 2014
15:48 EDTKMBKimberly Clark technical comments ahead of earnings
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15:36 EDTKMBNotable companies reporting before tomorrow's open
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12:28 EDTPAYNCR Corp. plummets after guidance lowered
Shares of payment solutions company NCR Corp. (NCR) are sinking after the firm’s third quarter forecasts missed analysts’ consensus estimates and it lowered its outlook for fiscal 2014. WHAT'S NEW: This morning, NCR Corp. forecast Q3 EPS of 67c and revenue of $1.647B, below analysts' consensus estimates of 71c and $1.66B, respectively. Q3 free cash flow is seen at $132M, which includes the previously announced recovery of $93M related to the Fox River environmental matter. The company cited a challenging retail market as well as difficult global macroeconomic conditions, including foreign currency headwinds, for the weak outlook. WHAT'S NOTABLE: NCR Corp. lowered its FY14 EPS view to $2.60-$2.70 from $3.00-$3.10, compared to consensus of $3.00. It also cut its FY14 revenue outlook to $6.575B- $6.625B from $6.75B-$6.85B, versus consensus of $6.74B. The company said, “While we are disappointed by these results, our Financial Services business remains a bright spot, Q3 free cash flow improvement was strong, and our previously announced restructuring program is on track to deliver annual run-rate savings of approximately $90M by 2016. While we continue to be faced with challenging and uncertain market dynamics, we remain confident in the actions we are taking to address these challenges, including strengthening our Retail Solutions team and talent, as well as utilizing our restructuring program to allocate more resources to our highest growth, highest margin opportunities to drive long-term profitable growth.” PRICE ACTION: In afternoon trading, NCR Corp. fell $6.43, or about 21.5%, to $23.45 on nearly five times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $23.32. Including today's pull back, the shares have lost approximately 41% over the past 12 months. OTHERS TO WATCH: Other companies in the payment solutions business include VeriFone Systems (PAY) and Diebold (DBD).
07:47 EDTAZNPfizer less likely to renew Astra pursuit after Shire deal breakdown, FT says
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07:19 EDTAZNIBC Life Sciences to hold a conference
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07:14 EDTAZNEuropean College of Neuropsychopharmacology to hold a conference
27th ECNP Congress is being held in Berlin, Germany on October 18-21.
06:26 EDTCHAEU, China settle telecoms case at Joint Committee
Intensive discussions between the European Commission and the Chinese government were concluded by an amicable settlement on the trade defense investigation into Chinese telecoms. The Commission took the official decision that it no longer considers it necessary to pursue this investigation. Regarding telecoms, the main points of the settlement include tasking an independent body with the monitoring of the Chinese and EU telecoms networks markets, guaranteeing access to the relevant Chinese standard setting body for European companies without discrimination, equal treatment of companies bidding for publically funded research and development projects and the EU and China will also advance the work of the International Working Group on Export Credits, whose objective is to adopt sectorial and horizontal disciplines in the field. The talks culminated on October 18 at the EU-China Joint Committee. Some telecom companies in China include China Telecom (CHA), China Unicom (CHU) and China Mobile (CHL). Reference Link
October 17, 2014
11:25 EDTPAYVeriFone wins appeal of patent ruling in favor of CardSoft
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10:51 EDTDTVOptions with increasing implied volatility
Options with increasing implied volatility: COV DISH HLT QEP GREK BKW BYI LLY DTV TIBX
08:00 EDTPAYVeriFone fundamentals unchanged despite sell-off, says Jefferies
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