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Stock Market & Financial Investment News

News Breaks
February 7, 2013
15:16 EDTRGS, CFN, MCHP, XL, HAS, ATVICompanies reporting After the Market Close on Thursday, February 7
Notable companies reporting after the closing bell on Thursday include Activision Blizzard (ATVI), CareFusion (CFN), Hasbro (HAS), Microchip Technology (MCHP), Republic Services (RSG), and XL Group (XL).
News For ATVI;CFN;HAS;MCHP;RGS;XL From The Last 14 Days
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February 5, 2016
07:36 EDTHASHasbro volatility elevated into Q4 and outlook
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05:35 EDTATVIActivision Blizzard implied volatility of 48 at upper end of index mean range
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February 4, 2016
16:47 EDTHASOn The Fly: Top stock stories for Thursday
Stocks had a roller coaster session, moving in a wide range and crossing the flat line several times during the day as the market continues to move in conjunction with the price of oil. Early in the session oil prices met resistance near $34 a barrel and equities were up by triple digits. When the price of crude pulled back, equities followed suit and ultimately turned negative. Oil prices struggled during the afternoon hours and closed down for the day. However, the averages drifted higher into the close and finished in the green. ECONOMIC EVENTS: In the U.S., the Labor Department said that productivity fell at an annual rate of 3% in the fourth quarter, marking the biggest quarterly decline in nearly two years and worse than the expected decline of 2%. Labor costs rose 4.5% in the fourth quarter, versus expectations for an increase of 4.3%. Initial jobless claims rose to 285,000 in the week ended January 30, versus expectations for 277,000 first-time claims. Factory orders declined 2.9% in December, versus expectations for them to be down 2.8% for the month. In Europe, the European Commission lowered its 2016 economic growth forecast for the 19-nation single currency area to 1.7% from the 1.8% expansion the commission had forecast in November. The Bank of England also cut its economic growth forecasts, saying it now expects Britain's economy to grow 2.2% this year and 2.3% next year, which is down from the 2.5% growth for 2016 and 2.6% in 2017 that it previously predicted. Additionally, the BoE maintained its bank rate and held the size of its asset purchase program steady. COMPANY NEWS: Shares of GoPro (GPRO) sunk to all-time lows after the action camera maker reported fourth quarter revenue that fell $60M short of expectations and guided first quarter revenue even further below analyst forecasts. The stock fell as low as $9.01 early in the session before ending the day down 8.68% at $9.78. Ambarella (AMBA), a chip supplier that has often traded in tandem with GoPro in the past, gained 5.13% to $39.35, with several analysts highlighting the company's healthy business outside of GoPro... Sumner Redstone stepped down as executive chairman of both CBS (CBS) and Viacom (VIA, VIAB), being replaced by the CEOs of the companies in both cases. CBS shares were up 0.31% after Leslie Moonves was named the next chair of its board, while Class A shares of Viacom were up 2.33% after Philippe Dauman was selected to succeed Redstone... Mattel (MAT) and Hasbro (HAS) gained a respective 1.67% and 1.2% following Bloomberg's report that the two toymakers have held intermittent merger discussions after Hasbro approached its peer late last year. MAJOR MOVERS: Among the notable gainers was Cascade Microtech (CSCD), which spiked 32.26% to $20.21 after agreeing to be acquired by FormFactor (FORM) for $16 per share. FormFactor declined 12.61% following the news. Also higher was VirnetX (VHC), which soared 46.14% to $7.00 after being awarded $625.6M in a patent dispute against Apple (AAPL). In addition, GrubHub (GRUB), McGraw Hill (MHFI) and Buffalo Wild Wings (BWLD) rose 12.8%, 7.7% and 7.6%, respectively, following their quarterly reports. Among the noteworthy losers were Ralph Lauren (RL) and Kohl's (KSS), which fell a respective 22.2% and 18.8% after reporting quarterly earnings and issuing underwhelming financial outlooks, with the negative signals also dragging down department store operators J.C. Penney (JCP), Macy's (M) and Nordstrom (JWN). Also lower was ConocoPhillips (COP), which declined 8.65% to $35.29 after the oil and gas explorer reported a worse than expected quarterly loss and slashed its dividend to 25c from 74c per share. CEO Ryan Lance said the decision to reduce the dividend was a "difficult one," but the company believes it is prudent to plan for lower commodity prices for a longer period of time. Meanwhile, AstraZeneca (AZN), Credit Suisse (CS) and MetLife (MET) slipped 5.9%, 10.8% and 5.3%, respectively, following their quarterly reports. INDEXES: The Dow rose 79.92, or 0.49%, to 16,416.58, the Nasdaq gained 5.32, or 0.12%, to 4,509.56, and the S&P 500 advanced 2.92, or 0.15%, to 1,915.45.
13:45 EDTHASHasbro management previously skeptical of 'transformational' deal, says Goldman
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13:07 EDTHASHasbro approached Mattel about possible merger late last year, Bloomberg says
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12:51 EDTHASMattel options active on approached by Hasbro about transaction report
Mattel (MAT) February 32 and 33 calls are active on total call volume of 4,600 contracts (4,500 puts) on being approached Hasbro (HAS) about transaction, Bloomberg reports. February call option implied volatility is at 47, March is at 40; compared to its 52-week range of 22 to 54. Active option volume suggest traders taking positions for upside price movement.
12:46 EDTHASHasbro has held talks with Mattel about potential transaction, Bloomberg reports
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12:46 EDTHASHasbro calls active on approached Mattel about transaction report
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12:40 EDTHASHasbro approached Mattel about transaction, Bloomberg reports
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07:24 EDTMCHPMicrochip sees December quarter as end of inventory correction, says Stephens
Stephens analyst Harsh Kumar noted that along with reporting "solid" December quarter results, Microchip said it believes the quarter marked the end of the current inventory correction. The company historically has credibility in calling semiconductor cycles, Kumar tells investors in a research note. The analyst, who prefers to wait for a better entry point into the stock, keeps a $55 price target and Equal Weight rating on Microchip shares.
February 3, 2016
17:09 EDTXLXL Group reports Q4 EPS 65c, consensus 58c
Reports Q4 revenue $2.59B, consensus $2.39B.
16:22 EDTMCHPMicrochip sees Q4 EPS 65c-69c, consensus 66c
Sees Q4 revenue $552M-$568.5M, consensus $567.1M.
16:21 EDTMCHPMicrochip reports Q3 EPS 64c, consensus 62c
Reports Q3 revenue $540.3M, consensus $551.85M. Reports Q3 non-GAAP revenue $552M.
16:17 EDTMCHPMicrochip appoints Ganesh Moorthy as COO
Microchip Technology announced that its board has appointed Ganesh Moorthy as president and COO effective immediately. Moorthy joined Microchip in 2001 as Vice President of the Advanced 8-bit Microcontroller division.
14:48 EDTMCHPNotable companies reporting after market close
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10:00 EDTMCHPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded to Market Perform from Outperform at William Blair... Credit Acceptance (CACC) downgraded to Underperform at Raymond James... CIT Group (CIT) downgraded to Neutral from Buy at Citi... Cobalt (CIE) downgraded at Stifel... Cypress Energy (CELP) downgraded to Outperform from Strong Buy at Raymond James... Freeport McMoRan (FCX) downgraded on weak near-term outlook at Argus... Gastar Exploration (GST) downgraded to In-Line from Outperform at Imperial Capital... Intersil (ISIL) downgraded to Sell from Neutral at Citi... LyondellBasell (LYB) downgraded to Outperform from Top Pick at RBC Capital... Marriott (MAR) downgraded to Market Perform from Outperform at Wells Fargo... Microchip (MCHP) downgraded to Sell from Neutral at Goldman... Morgan Stanley (MS) downgraded to Underweight from Neutral at Atlantic Equities... Navios Maritime Partners (NMM) downgraded to Hold from Buy at Deutsche Bank... Peapack-Gladstone (PGC) downgraded to Hold from Buy at Sandler O'Neill... QIWI (QIWI) downgraded to Market Perform from Outperform at William Blair... STORE Capital (STOR) downgraded to Neutral from Buy at Ladenburg... Spark Energy (SPKE) downgraded to Neutral from Outperform at Baird... Stone Energy (SGY) downgraded to In-Line from Outperform at Imperial Capital... SunEdison Semiconductor (SEMI) downgraded to Sell from Neutral at Goldman... Teradyne (TER) downgraded to Neutral from Buy at Goldman... Texas Instruments (TXN) downgraded to Sell from Neutral at Goldman... UBS (UBS) downgraded to Sector Perform from Outperform at RBC Capital... Whiting Petroleum (WLL) downgraded on oil price outlook at Stifel... Xcel Energy (XEL) downgraded to Sell from Neutral at UBS... Xilinx (XLNX) downgraded to Buy from Conviction Buy at Goldman... Yahoo (YHOO) downgraded to Hold from Buy at Axiom.
February 2, 2016
17:49 EDTMCHPMicrochip downgraded to Sell from Neutral at Goldman
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11:50 EDTMCHPOptions with increasing put volume; BKLN AKS ROK MCHP EXXI TPX ALU TXT RCL
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10:01 EDTMCHPHigh option volume stocks: DF ROK MCHP SFLY PBI IDTI IILG
January 28, 2016
06:07 EDTRGSRegis reports Q2 adjusted EPS 3c, consensus (7c)
Reports Q2 revenue $450.5M, consensus $453.38M. Reports Q2 SSS up 2.2%.
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