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Stock Market & Financial Investment News

News Breaks
January 17, 2013
12:25 EDTBA, PWER, HLF, NUS, KSWS, CBS, BLK, C, BAC, CLSNOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday following a better than expected monthly report on housing and lower than expected weekly jobless claims. The economic data lifted the futures and led to a higher open for the broader market. The averages have drifted slightly higher during the morning but remain in a narrow range, albeit near five year highs. Financial companies, which are currently in the process of releasing earnings, have been laggards today as investors have been unimpressed with this morning's reports from Citigroup (C) and Bank of America (BAC)... ECONOMIC EVENTS: In the U.S., weekly jobless claims fell to 335K, versus expectations for a relatively flat level at 370K. Housing starts surged 12.1% to 954K in December, which was better than expected, while building permits edged up 0.3% in the month to 903K, which was in-line with forecasts. The day's lone disappointing data came from the Philly Fed, which had its manufacturing survey unexpectedly fall to -5.8, compared to consensus calls for a much smaller decline to a 6.0 reading... COMPANY NEWS: Boeing (BA) was front and center in yet another trading session after the FAA grounded the 787 Dreamliner and regulators around the world followed suit. Shares of the Dow component were virtually unchanged in afternoon trading in spite of the news... Citigroup (C) missed earnings expectations, leading to a 2.9% decline in its stock, while Bank of America slid over 3.7% in spite of its earnings narrowly beating consensus. One financial name bucking the sector's trend, however, was BlackRock (BLK), which advanced 4.2% after its results beat expectations and the company increased its dividend... MAJOR MOVERS: Among the notable gainers were K-Swiss (KSWS), up 48% after agreeing to be acquired for $4.75 cash per share, and CBS (CBS), up 10% after announcing plans to convert its U.S. outdoor advertising business to a REIT. Also higher were shares of Nu Skin (NUS), which rose nearly 10% after giving better than expected guidance and are now up almost 3% since the day that Bill Ackman revealed his short thesis in multi-level marketing peer Herbalife (HLF). Among the noteworthy losers were Celsion (CLSN), down almost 9% following a downgrade to Sell at Brean Capital, and Power-One (PWER), down over 7% after lowering its revenue view... INDICES: Near noon, the Dow was up 79.67, or 0.59%, to 13,590.90; the Nasdaq was up 17.87, or 0.57%, to 3,135.41; and the S&P 500 was up 7.97, or 0.54%, to 1,480.60.
News For BA;BAC;C;BLK;CBS;KSWS;NUS;HLF;PWER;CLSN From The Last 14 Days
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August 8, 2014
07:18 EDTC, BACRegulators direct banks to steer mortgage aid to hard-hit areas, FT says
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06:43 EDTBAReport says cold weather reason for Boeing battery meltdown, Reuters says
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06:30 EDTCCitigroup, Accenture employ tech workers in Argentina, Bloomberg says
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August 7, 2014
18:32 EDTCBSCBS sees national advertising trends accelerating in second half
18:27 EDTCBSCBS CEO Moonves says 'happy' with assets, not interested in buying CNN
18:24 EDTCBSCBS CEO Les Moonves says upfront sales volume down 'slightly'
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16:05 EDTCBSCBS reports Q2 Entertainment segment revenue $1.84B
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16:04 EDTCBSCBS boosts share buyback to $6B, increases dividend 25% to 15c
CBS announced an increase in the amount available under its share repurchase program from $3B to $6B. Since the share repurchase program was initiated in January 2011, through June 30, the company has repurchased 162M shares of its Class B Common Stock for $6.8B. CBS also announced an increase to its quarterly dividend from 12c per share to 15c per share. This dividend is payable on October 1 to shareholders of record on September 10.
16:03 EDTCBSCBS boosts share buyback to $6B, to increase dividend 25%
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16:02 EDTCBSCBS reports Q2 adjusted EPS 78c, consensus 72c
Reports Q2 revenue $3.19B, consensus $3.23B. Reports Q2 free cash flow
16:00 EDTCOptions Update; August 7, 2014
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15:33 EDTCBS Notable companies reporting after market close
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15:31 EDTCBSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include CBS (CBS), consensus 72c; Consolidated Edison (ED), consensus 54c; Monster Beverage (MNST), consensus 75c; News Corporation (NWSA), consensus 3c; NVIDIA (NVDA), consensus 20c; Computer Sciences (CSC), consensus 94c; CareFusion (CFN), consensus 72c;DeVry Education (DV), consensus 67c; Salix Pharmaceuticals (SLXP), consensus $1.72; Federal Realty (FRT), consensus $1.21; SolarCity (SCTY), consensus (99c); Medivation (MDVN), consensus 24c; Sprouts Farmers Market (SFM), consensus 18c; Alnylam Pharmaceuticals (ALNY), consensus (56c); Lions Gate (LGF), consensus 17c; Mercadolibre (MELI), consensus 56c; Post Holdings (POST), consensus 27c; Assured Guaranty (AGO), consensus 35c; Great Plains Energy (GXP), consensus 41c; Air Lease (AL), consensus 52c; Ubiquiti Networks (UBNT), consensus 51c; SemGroup (SEMG), consensus 35c.
13:25 EDTCBSEarnings Preview: CBS shares little changed since Q1 report
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11:18 EDTBABoeing reports 40 new orders in weekly update
Boeing announced 40 new orders in an update of its orders through August 5 to account for its previously announced order for 26 777s and 14 787s from All Nippon Airways. Reference Link
10:00 EDTNUSOn The Fly: Analyst Downgrade Summary
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08:23 EDTBAC, CL.A. suit against JPMorgan over mortgage lending dismissed, Reuters reports
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08:13 EDTCLSNCelsion reports Q2 EPS (38c), consensus (32c)
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06:08 EDTNUSNu Skin orice target lowered to $70 from $110 at Deutsche Bank
Deutsche Bank lowered its price target for Nu Skin shares to $70 saying the regulatory overhang "continue to wreak havoc on the company’s important China business." The firm, however, says comparisons ease next year and that inventory can be worked down or written off. Deutsche keeps a Buy rating on Nu Skin following yesterday's Q2 results. Note the stock was downgraded this morning at JPMorgan to Neutral.
05:48 EDTNUSNu Skin downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded Nu Skin to Neutral saying the underlying business is weaker than it expected with little visibility following the company's Q2 results. The firm cut its price target for shares in half to $50 from $100. Nu Skin closed yesterday down $11.40 to $46.52 after reporting Q2 results.
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