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Stock Market & Financial Investment News

News Breaks
April 28, 2014
09:18 EDTETP, HAE, GLW, NEM, SOHU, SUSS, OGXI, YOKU, FRX, BAC, AGEN, POZN, ATHX, ABX, FURX, PFE, AZNOn The Fly: Pre-market Movers
HIGHER: AstraZeneca (AZN), up 16% after Pfizer (PFE) confirms takeover offer made and turned down by company. Pfizer shares are also up 2.7% as the company says it is still interested in a potential AstraZeneca combination and is weighing its next steps... Furiex (FURX), up 31% after agreeing to be acquired by Forest labs (FRX) for $95 per share and contingent future payments... Susser (SUSS), up 37% after agreeing to be acquired by Energy Transfer Partners (ETP) for approx. $1.8B... Agenus (AGEN), up 10% after announcing collaboration and license agreement with Merck (MRK)... Yokou Toudou (YOKU), up 10% after announcing $1.22B investment led by Alibaba... Corning (GLW), up 2.7% after earnings report. DOWN AFTER EARNINGS: Sohu.com (SOHU), down 6.6%... Haemonetics (HAE), down 9.5%... ALSO LOWER: Bank of America (BAC), down 2.6% after suspending capital actions, including repurchase authorization... Newmont Mining (NEM), down 5.7% after terminating merger discussions with Barrick Gold (ABX)... Athersys (ATHX), down 56% after MultiStem therapy trial fails to show meaningful benefit... OncoGenex (OGXI), down 52% after Synergy did not meet primary endpoint in Phase 3 trial... POZEN (POZN), down 12% after drug candidates PA8140/PA32540 receive Complete Response Letter from FDA.
News For AZN;PFE;BAC;SOHU;FURX;FRX;NEM;ABX;YOKU;GLW;ATHX;OGXI;HAE;POZN;SUSS;ETP;AGEN From The Last 14 Days
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January 27, 2016
10:10 EDTBACActive calls: XOM AAPL SPY BAC UUP
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09:32 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL FB AMZN AAL BAC PCLN NFLX MRK GOOG
08:20 EDTGLWCorning reported strong results, says Bernstein
After Corning's Q4 results beat expectations, Bernstein says that the results were strong. The firm says that the company's guidance was "mixed," but indicates that its display glass business will be strong this year despite a weak start to Q1. Bernstein says that the company's decision to hedge its yen exposure is positive, and it keeps a $26 price target and Outperform rating.
January 26, 2016
16:00 EDTBACOptions Update; January 26, 2016
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11:53 EDTNEMOptions with increasing put volume: RDN MTG PCP HES CLDX NEM BUD JUNO KITE
11:13 EDTBACActive options; AAPL BAC FB NFLX C MSFT TWTR VALE FCX COH XOM AMZN
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11:01 EDTBACStocks with call strike movement; COH BAC
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09:32 EDTGLWActive equity options trading on open
Active equity options trading on open: FB PEP NFLX PM GM RMBS MSFT GLW AAPL
09:32 EDTGLWCorning sees gros margin percentages improving year-over-year in 2H16
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09:28 EDTGLWCorning sees Q1 global economic headwinds to continue in Q1
Corning's (GLW) management said that volume in Q1 will reflect the weaker retail market. Management said that Q1 will be the weakest quarter in the fiscal year. The company sees glass market volumes to be down mid-to-high single digits. The company expects glass market volume growth to begin in Q2. The company sees prices to decline moderately sequentially in Q1. The company sees its optical communications segment up low-to-mid single digits. The company sees environmental sales down approximately 10% in Q1. Corning expects its special materials segment sales down mid teens. The company expects its life sciences sales up low-single digits. Dow Corning, Corning's joint venture with Dow Chemical (DD), equity earnings are expected to be approximately $45M in Q1. Corning sees core gross margin approximately 41% of sales in Q1. Guidance provided during Q4 earnings conference call.
06:55 EDTGLWCorning expects Q1 to be weakest of 2016, growth to recover in Q2-Q4
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06:53 EDTGLWCorning reports Q4 Display Technologies core sales $903M
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06:52 EDTGLWCorning reports Q4 core EPS 34c, consensus 32c
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January 25, 2016
16:00 EDTBACOptions Update; January 25, 2016
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14:29 EDTGLWNotable companies reporting before tomorrow's open
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12:15 EDTGLWEarnings Watch: Corning sees Q4 LCD glass volume down slightly
Corning (GLW) is expected to report fourth quarter earnings on Tuesday, January 26 before the market open with a conference call scheduled for 8:30 am ET. Corning is a globally diversified technology company. EXPECTATIONS: Analysts are looking for earnings per share of 32c on revenue of $2.33B, according to First Call. The consensus range for EPS is 28c-33c on revenue of $2.3B-$2.36B. LAST QUARTER: Corning reported third quarter core EPS of 34c against estimates for 34c, on revenue of $2.27B against estimates for $2.5B. It reported Q3 core sales of $2.45B. Corning expects Q4 LCD glass volume down slightly, sequentially. Corning announced a strategic and capital allocation framework designed to return more than $10B to shareholders through 2019. As a first step to delivering the plan, Corning's Board of Directors increased the company's share repurchase authorization by $4B. The company also announced plans to commence a $1.25B accelerated share repurchase program during the fourth quarter. Additionally, the company anticipates increasing its dividend per common share by at least 10% annually through 2019. On December 11, Corning announced that it will exchange its 50% interest in Dow Corning Corporation for 100% of the stock of a newly formed entity that will become a wholly owned subsidiary of Corning Incorporated. The newly formed entity will hold approximately 40% ownership in Hemlock Semiconductor Group and approximately $4.8B in cash. Corning expects the realignment to be substantially tax-free. STREET RESEARCH: Street research has been mixed in the weeks leading up to Corning's Q4 earnings report. On November 19, Susquehanna said Corning had recently focused on new end-market opportunities that could help provide growth as display matures. Although the firm noted the company is trying to find opportunities, they saw only 6%-8% accretion to 2017 earnings. Susquehanna reiterated its Positive rating and $22 price target on Corning shares. On December 14, Bernstein said Corning will benefit from the Dow Corning deal. After Corning (GLW) and Dow Chemical (DOW) announced that Corning will exchange its 50% interest in joint venture Dow Corning for a 100% stake in a newly-formed entity that will have $4.8B in cash, Bernstein said that Dow Corning's earnings stream was only worth $2B. The firm kept a $26 price target and Outperform rating on Corning. On December 17, JPMorgan analyst Rod Hall downgraded Corning to Neutral from Overweight saying the weak macro environment is driving slower than expected TV shipments. Corning's valuation is full at current levels, Hall told investors in a research note where he cut his price target for the shares to $18 from $20. PRICE ACTION: Corning's shares are down marginally since Q3 results were released. However, over the past twelve months, the stock has fallen approximately 29%. In early afternoon trading ahead of Tuesday's Q4 report, Corning's shares are down just over 1%.
11:24 EDTGLWOptions with increasing volume
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09:32 EDTGLWApple Active equity options trading on open
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06:53 EDTAZNGlaxo, Astra, J&J partner with universities in drug research fund, Reuters says
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January 24, 2016
11:02 EDTBACStocks post weekly gain after oil rebounds
Stocks recovered late in the week to post their first weekly gain of the new year as equities continue to be correlated closely with the oil market. A plunge in oil led equities lower early in the holiday shortened week, but as oil prices rebounded to close the week out, the major averages followed suit. MACRO NEWS: In the U.S., the consumer price index fell 0.1% during December, versus expectations for a flat reading. The core reading, which excludes food and energy, showed prices rose 0.1% from the prior month, versus expectations for an increase of 0.2%. Initial jobless claims rose to 293,000 last week, topping the expectation for 278,000 first-time claims. Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast... In Asia, China's national bureau of statistics estimated that GDP growth slowed to 6.8% in the last quarter of the year, dipping from 6.9% growth in the previous quarter. China's industrial output rose 5.9% from a year earlier in December, compared with the consensus forecast for a 6% increase. Japan's Nikkei average was down early in the week, even falling into bear market territory, but rallied nearly 6% on Friday after the Nikkei Asian Review said that the Bank of Japan is taking a "serious look" at additional easing... In Europe, the European Central Bank left its key interest rates unchanged. However, at an associated press conference, ECB President Mario Draghi acknowledged downside risks were increasing again, meaning the bank may need to "review and possibly reconsider" its monetary policy stance at its next meeting in March. Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. The International Monetary Fund cut its global growth forecasts for the third time in less than a year. The IMF now estimates that the world economy will grow 3.4% this year and 3.6% next year, down from its prior forecasts of 3.6% and 3.8% growth, respectively. COMPANY NEWS: On Tuesday, Morgan Stanley (MS) advanced 1% after its earnings and revenue topped analysts' consensus forecast. Big bank peer Bank of America (BAC) slid 1% after its earnings also beat expectations but its revenue narrowly missed the consensus estimate... On Wednesday, IBM (IBM) slid nearly 5% after reporting better than expected earnings and revenue for the fourth quarter, but forecasting below-consensus profits for the new year... On Thursday, Verizon (VZ) was among the best performers on the Dow, advancing over 3% after its earnings, revenue and wireless subscriber additions all topped expectations. Conversely, fellow Dow member Travelers (TRV) slid almost 1% after releasing its own quarterly results... On Friday, American Express (AXP) sunk more than 12% after the card issuer reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors. Fellow Dow member GE (GE) slid a bit more than 1% after reporting better than expected earnings but lower than expected quarterly revenue... Schlumberger (SLB) shares gained 6% after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs... Netflix (NFLX) reported fourth quarter earnings that beat analyst estimates, powered by better than expected international subscriber growth. The numbers were met with positive commentary by several research firms, though decelerating U.S. subscriber growth was highlighted by bears as a warning sign for the company... Deutsche Bank (DB) disclosed that it expects a EUR2.1B net loss for the quarter due to a number of charges, including expected litigation costs of EUR1.2B... Xilinx (XLNX) advanced after reporting its third quarter numbers. The news may have been overshadowed, however, by a regulatory filing showing new agreements with its top executives, with several analysts highlighting that the change could signal a takeover is in the cards in the future... Alkermes (ALKS) plunged more than 44% after disclosing that two of three Phase 3 studies of its experimental depression disorder treatment did not meet their primary efficacy endpoints. INDEXES: For the four-day week, the Dow gained about 0.67% to close at 16,093.51, the S&P 500 rose about 1.4% to close at 1,906.90, and the Nasdaq increased about 2.3% to close at 4,591.18.
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