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Stock Market & Financial Investment News

News Breaks
March 17, 2014
10:03 EDTGNC, FSYS, ARCP, BAX, AAN, FB, GCO, FMC, VRSN, SBGI, NXST, CAM, STZ, GD, GTN, HRS, HII, KMR, NOV, ATWOn The Fly: Analyst Downgrade Summary
Atwood Oceanics (ATW) downgraded to Buy from Conviction Buy at Goldman... Cameron (CAM) downgraded to Neutral from Buy at Goldman... Constellation Brands (STZ) downgraded to Neutral from Buy at Goldman... General Dynamics (GD) downgraded to Equal Weight from Overweight at Barclays... Gray Television (GTN) downgraded to Market Perform from Outperform at Wells Fargo... Harris (HRS) downgraded to Underweight from Equal Weight at Barclays... Huntington Ingalls (HII) downgraded to Underweight from Equal Weight at Barclays... Kinder Morgan Management (KMR) downgraded to Market Perform at Wells Fargo... National Oilwell (NOV) downgraded to Neutral from Buy at Goldman... Nexstar (NXST) downgraded to Market Perform from Outperform at Wells Fargo... Sinclair Broadcast (SBGI) downgraded to Market Perform from Outperform at Wells Fargo... VeriSign (VRSN) downgraded to Market Perform from Outperform at Cowen... FMC Corporation (FMC) downgraded to Neutral from Outperform at Macquarie... Genesco (GCO) downgraded to Equal Weight from Overweight at Johnson Rice... Fuel Systems (FSYS) downgraded to Hold from Buy at Lake Street... American Realty (ARCP) downgraded to Neutral from Buy at Ladenburg... Baxter (BAX) at Goldman downgraded to Buy from Conviction Buy at Goldman... Aaron's (AAN) downgraded to Market Perform from Outperform at Raymond James... Facebook (FB) downgraded to Hold from Buy at Argus... GNC Holdings (GNC) downgraded to Neutral from Outperform at Credit Suisse.
News For ATW;CAM;STZ;GD;GTN;HRS;HII;KMR;NOV;NXST;SBGI;VRSN;FMC;GCO;FSYS;ARCP;BAX;AAN;FB;GNC From The Last 14 Days
Check below for free stories on ATW;CAM;STZ;GD;GTN;HRS;HII;KMR;NOV;NXST;SBGI;VRSN;FMC;GCO;FSYS;ARCP;BAX;AAN;FB;GNC the last two weeks.
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July 16, 2014
15:27 EDTBAXNotable companies reporting before tomorrow's open
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14:30 EDTATWAtwood Oceanics mentioned as potential takeover target by The Deal
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06:37 EDTAANConn's recent sell-off a buying opprotunity, says Piper Jaffray
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July 15, 2014
16:00 EDTFBOptions Update; July 15, 2014
iPath S&P 500 VIX Short-Term Futures up 53c to 28.02. Option volume leaders: AAPL FB GOOG AMZN ABX DIS NFLX TWTR TSLA according to Track Data.
12:48 EDTFBFacebook July weekly volatility increases into Q2
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12:21 EDTAANOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday despite better than expected quarterly reports from two of the nation's largest financial institutions. Stock futures improved during the pre-market trading session, leading to a higher open for the broader market, following better than expected earnings reports from JP Morgan (JPM) and Goldman Sachs (GS). The earnings news also came alongside another huge M&A deal, as tobacco giants Reynolds American (RAI) and Lorillard (LO) confirmed plans to merge. However, the major averages weakened throughout the morning and fell into negative ground against the backdrop of Fed Chair Janet Yellen giving testimony on Capital Hill. In the Board of Governors' Monetary Policy Report, the central bank said valuation metrics in "some sectors" appear substantially stretched, "particularly those for smaller firms in the social media and biotechnology industries." ECONOMIC EVENTS: In the U.S., retail sales increased 0.2% in June compared to the month prior, making for the weakest reading since January and missing the consensus forecast for an increase of 0.6%. The Empire State manufacturing index climbed to a four-year high of 25.6 in July, beating expectations for a reading of 16.5. Import prices rose 0.1% in June, with export prices slipping 0.4%. Business inventories grew 0.5% in May, which was just below the 0.6% consensus growth expectation. In Europe, Germany's ZEW survey missed expectations, as both its Current Situation and Expectations reading were lower than forecast. COMPANY NEWS: Shares of JPMorgan advanced nearly 4% after the bank reported a profit of $1.46 a share, which included a legal expense of 13c a share, beating analysts' consensus forecast of $1.29. The earnings report comes after CEO Jamie Dimon recently disclosed that he has throat cancer. During the company's conference call, Dimon said he was "feeling great," that doctors had found no evidence of cancer anywhere except in the location where it had originally been detected, and that his prognosis for recovery is "excellent"... Also in the large-cap bank sector, Goldman Sachs' headline earnings and revenue similarly beat expectations. The firm, which said it ranks first in worldwide announced and completed mergers and acquisitions for the year-to-date, advanced about 1% following its report... Along with JPMorgan in the Dow Jones Industrial Average, Johnson & Johnson (JNJ) reported quarterly sales and profits that beat expectations and the healthcare conglomerate raised its fiscal year EPS view to $5.85-$5.92 from $5.75-$5.85. However, its increased outlook range still fell short of the $5.90 per share consensus forecast that analysts had prior to its report... Reynolds American confirmed news that has been speculated for many weeks, announcing that it will acquire peer Lorillard in a cash-and-stock transaction currently valued at $68.88 per Lorillard share, or a total of $27.4B, including the assumption of net debt. Shares of both fell afterward, with Lorillard down 8% to trade near $61.75 at midday and Reynolds slipping 5%. MAJOR MOVERS: Among the notable gainers was small-cap pharma biotechnology research company Codexis (CDXS), which surged nearly 50% after announcing a collaboration and license agreement with GlaxoSmithKline (GSK). Among the noteworthy losers was Aaron's (AAN), which is engaged in the lease ownership and retail sale of a variety of consumer products. Its stock fell over 6% after the company lowered its second quarter outlook, citing lower than expected performance of its core business as the reason for the revision. INDEXES: Near midday, the Dow was down 33.45, or 0.2%, to 17,021.97, the Nasdaq was down 40.48, or 0.91%, to 4,399.94, and the S&P 500 was down 9.24, or 0.47%, to 1,967.86.
11:42 EDTSBGIDoJ requires Sinclair to make divestiture to proceed with Perpetual deal
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11:34 EDTAANAaron's falls after cutting second quarter outlook
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11:07 EDTFBStocks with call strike movement; MU FB
Micron (MU) October 37 call option implied volatility increased 2% to 39, Facebook (FB) December 75 call option implied volatility increased 3% to 38 according to IVolatility.
10:56 EDTFBFed calls small cap social media, biotech valuations 'stretched'
The Board of Governors of the Federal Reserve in its Monetary Policy Report dated today said valuation metrics in "some sectors" appear substantially stretched, "particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year." A later part in the document reads, "Equity valuations of smaller firms as well as social media and biotechnology firms appear to be stretched, with ratios of prices to forward earnings remaining high relative to historical norms." The specific targeting of sectors by the Fed seems to be having an impact on stocks in the social media and biotech spaces. Shares of Yelp (YELP) are down over 5% to $67.51, while Twitter (TWTR) and Facebook (FB) are each down 2%. Celgene (CELG) and Amgen (AMGN) are leading the biotech space lower with pullbacks of greater than 1%.
10:33 EDTFBFacebook, Twitter slip following cautious valuation comments from Fed
Shares of a number of companies in the social media and biotech industries moved lower following the circulation of cautious comments about their stock valuations that were included in the Federal Reserve's latest Monetary Policy Report. WHAT'S NEW: In the report, presented by the Board of Governors of the Federal Reserve and signed on behalf of the governors by Chair Janet Yellen, the central bank wrote that some broad equity price indexes have increased to all-time highs in nominal terms since the end of 2013, but that valuation measures for the overall market in early July were "generally at levels not far above their historical averages." However, the Fed's report also cautioned that valuation metrics in some sectors do appear substantially "stretched," particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year. As support for its assessment, the Fed noted that ratios of prices to forward earnings for "smaller firms as well as social media and biotechnology firms" remain "high relative to historical norms." PRICE ACTION: Following the circulation of the comments in the Fed report, shares of Facebook (FB) are down 88c, or 1.3%, to $67.02, Twitter (TWTR) is down 24c, or 0.6%, to $38.07 and LinkedIn (LNKD), is down 21c, or 0.1%, to $159.57. Shares of some biotechnology companies including Celgene (CELG) and Amgen (AMGN) also ticked lower following the circulation of the comments from the Fed's report.
10:18 EDTFBFacebook, Twitter move lower following comments from Yellen
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10:00 EDTATWOn The Fly: Analyst Upgrade Summary
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09:38 EDTFBActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL FB JPM TSLA
09:04 EDTSBGISinclair Broadcast reaches retransmission consent with Buckeye Cable
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08:34 EDTAANAaron's expects to close 44 stores by the end of Q3
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08:34 EDTAANAaron's sees Q2 preliminary adjusted EPS 34c-37c, consensus 46c
Sees Q2 preliminary revenue $672M, consensus $677.99M.
07:23 EDTFBFortune to hold a conference
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06:41 EDTATWAtwood Oceanics upgraded to Market Perform from Underperform at BMO Capital
BMO upgraded the offshore drillers to Market Perform from Underperform citing valuation, reduced expectations, and a slow resumption in activity. Price target raised to $50 from $45.
06:13 EDTFBFacebook, Nielsen team up to track TV habits, LA Times reports
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