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Stock Market & Financial Investment News

News Breaks
May 16, 2014
09:59 EDTCBK, AMG, WLL, TROW, BEN, CLMT, AXS, TISA, IVZ, CIO, BLK, TST, IBTXOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AXIS Capital (AXS) initiated with an Outperform at JMP Securities... Affiliated Managers (AMG) initiated with a Buy at Deutsche Bank... BlackRock (BLK) initiated with a Buy at Deutsche Bank... Calumet Specialty Products (CLMT) initiated with a Buy at Ladenburg... Christopher & Banks (CBK) initiated with a Buy at Buckingham... City Office REIT (CIO) initiated with a Buy at Wunderlich... Franklin Resources (BEN) initiated with a Hold at Deutsche Bank... Independent Bank (IBTX) initiated with a Buy at Sterne Agee... Invesco (IVZ) initiated with a Hold at Deutsche Bank... T. Rowe Price (TROW) initiated with a Buy at Deutsche Bank... TheStreet (TST) initiated with a Buy at B. Riley... Top Image Systems (TISA) initiated with a Buy at Roth Capital... Western Union (WU) initiated with a Sell at Berenberg... Whiting Petroleum (WLL) assumed with a Buy at Brean Capital.
News For AXS;AMG;BLK;CLMT;CBK;CIO;BEN;IBTX;IVZ;TROW;TST;TISA;WLL From The Last 14 Days
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August 26, 2015
09:01 EDTBLKBlackRock to acquire FutureAdvisor, terms not disclosed
BlackRock has entered into a definitive agreement to acquire FutureAdvisor. FutureAdvisor will operate as a business within BlackRock Solutions. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2015. The financial impact of the transaction is not material to BlackRock earnings per share. Terms were not disclosed.
07:39 EDTIVZ, BEN, TROW, BLKPiper Jaffray lowers estimates for asset managers below consensus
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August 24, 2015
07:19 EDTWLLWhiting Petroleum downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill downgraded Continental Resources to Neutral and lowered its price target to $27 from $38. The firm downgraded shares based on potential extended commodity weakness and the impact on investment.
August 23, 2015
12:50 EDTBLKBlackRock shares could return 20% in one year, Barron's says
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August 21, 2015
10:02 EDTCLMTOn The Fly: Analyst Initiation Summary
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August 20, 2015
16:27 EDTCLMTCalumet Specialty Products initiated with a Buy at Janney Capital
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August 19, 2015
06:26 EDTAXSAXIS Capital enters into accelerated share repurchase program for $300M
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06:13 EDTBLKSnapdeal secures $500M in investment round led by Alibaba, Softbank
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August 17, 2015
08:11 EDTTISATop Image Systems signs mutli-million dollar deal with top 5 U.S. bank
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07:46 EDTWLLEnerCom to hold a conference
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07:18 EDTIVZInvesco risk/reward 'particularly attractive' at current levels,says Wells Fargo
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07:18 EDTIVZInvesco risk/reward 'particularly attractive' at current levels,says Wells Fargo
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August 14, 2015
10:02 EDTCBKOn The Fly: Analyst Downgrade Summary
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09:22 EDTCBKChristopher & Banks downgraded to Neutral from Buy at Dougherty
08:35 EDTWLLHayman takes Mylan, Perrigo stakes, boasts exposure to energy
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07:54 EDTAXSAXIS Capital coverage resumed with an Equal Weight at Morgan Stanley
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06:05 EDTCBKChristopher & Banks downgraded to Hold from Buy at Brean Capital
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August 13, 2015
16:35 EDTCBKChristopher & Banks no longer sees meeting its prior full year guidance
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16:34 EDTCBKChristopher & Banks reports preliminary Q2 revenue $94M, consensus $102.24M
Comparable stores sales declined approximately 12.4%, with 56% of total stores on average included in the comparable store base, reflecting the repositioning of the store base as part of the MPW strategy. The Company currently expects gross margin to decline approximately 250 basis points versus last year's second quarter due to deleveraging as a result of lower sales. This compares to its previous guidance of flat to an increase of 50 basis points as compared to the prior year period. The Company currently anticipates SG&A for the second quarter will be approximately $30 million, which reflects both cost savings and a reduction in forecasted accrued incentives in the amount of approximately $1.6 million during the quarter. This compares to the previous SG&A outlook of between $32.5 million and $33.0 million. Inventory per square foot at the end of the quarter was up approximately 3% as compared to the level at the end of last year's second quarter. This is slightly above the Company's earlier guidance of approximately flat. LuAnn Via, President and Chief Executive Officer, stated, "We are disappointed by our financial results for the second quarter as we saw sales weaken significantly in late June and in July across all product categories. While sales were lower in all of our channels during the latter part of the quarter, our eCommerce business achieved plan for the quarter with strong double digit growth as compared to last year's second quarter. Overall, we believe that our business continued to be impacted by unfavorable macro challenges and the weakness in mall traffic. In addition, reduced levels of clearance merchandise and a more aggressive promotional environment were also contributing factors to the sales shortfall.

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