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Stock Market & Financial Investment News

News Breaks
January 29, 2014
09:26 EDTT, BKU, EMC, YHOO, DOW, FSL, ONVO, EA, BA, PGNX, CRUS, MDVNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Dow Chemical (DOW), up 6%... Electronic Arts (EA), up 2.5%... Freescale (FSL), up 13%. ALSO HIGHER: Medivation (MDVN), up 13% after Phase 3 PREVAIL trial with Astellas Pharma (ALPMY) of enzalutamide showed significant benefits in OS... Organovo (ONVO), up 16% after announcing first delivery of 3D liver tissue. DOWN AFTER EARNINGS: Boeing (BA), down 4%... Yahoo (YHOO), down 6%... AT&T (T), down 3.5%... Tupperware Brands (TUP), down 7%... Hess (HES), down 1.4%... EMC (EMC), down 1%... ALSO LOWER: Cirrus Logic (CRUS), down 7.5% after reporting Q3 earnings that beat estimates but giving a Q4 revenue outlook that widely missed expectations... Progenics Pharmaceuticals (PGNX), down 18.5% after abstract for drug trial posted... BankUnited (BKU), down 1.4% after filing to sell 8M common shares for holders.
News For BA;DOW;T;EA;YHOO;MDVN;ONVO;EMC;CRUS;FSL;BKU;PGNX From The Last 14 Days
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December 9, 2014
10:28 EDTTVerizon drops after warning about promotional impact on profits
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08:48 EDTMDVNMedivation management to meet with Leerink
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07:44 EDTMDVNAmerican Association for Cancer Research to hold a symposium
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07:32 EDTTUBS to hold a conference
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06:22 EDTBABoeing sees strong demand for commercial airplanes in 2015
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December 8, 2014
18:24 EDTTOn The Fly: After Hours Movers
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05:43 EDTBABoeing Business Jets, Comlux announces order for two BBJ MAX 8s
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December 5, 2014
16:36 EDTYHOOOn The Fly: Closing Wrap
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12:50 EDTYHOOOn The Fly: Midday Wrap
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10:20 EDTYHOOYahoo rises, Google falls after BofA changes ratings on both
Shares of Yahoo (YHOO) are rising and Google's (GOOG, GOOGL) stock is falling after Bank of America Merrill Lynch upgraded Yahoo and downgraded Google. WHAT'S NEW: Bank of America analyst Justin Post upgraded his rating on Yahoo to Buy from Neutral. Post said he had previously not expected to obtain information about Yahoo's strategy for avoiding taxes on the sale of its stake in Chinese e-commerce giant Alibaba (BABA) at least until well into 2015. However, Yahoo's CFO recently stated that the company continued to be optimistic that it would be able to cut its tax bill and added that the company would divulge its plans for doing so during its next earnings conference call. Yahoo's next earnings conference call is expected to take place by the end of next month, Post noted. He set a $62 price target on Yahoo shares. Meanwhile, Post downgraded Google to Neutral from Buy. The analyst thinks the company is facing several headwinds, including the maturity of its search business, a lack of products that can provide catalysts, and margin pressures as it invests in competitive businesses. As a result of these headwinds, Google's results are likely to be below expectations, Post believes. Meanwhile, the company is also facing increased regulatory risk, particularly in the EU, and increased competition from Facebook (FB) and other social networks. He trimmed his price target on Google to $580 from $600. PRICE ACTION: In early trading, Yahoo climbed 1% to $50.94, while Google class A shares declined 1.5% to $534.33.
10:00 EDTFSL, YHOOOn The Fly: Analyst Upgrade Summary
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09:36 EDTYHOOActive equity options trading
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09:32 EDTBKUBankUnited downgraded to Hold from Buy at Sandler O'Neill
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08:55 EDTYHOOYahoo seen overtaking Twitter in U.S. mobile ad market share, WSJ reports
Research firm eMarketer predicts Google (GOOG, GOOGL) and Facebook (FB) will account for about 35% and 17%, respectively, of the U.S. mobile ad market in 2015, but the firm also expects Yahoo (YHOO) will edge past Twitter (TWTR) in terms of mobile ad revenue, with projected market shares of 3.74% and 3.69%, respectively, reported The Wall Street Journal. Reference Link
08:31 EDTDOWDow Chemical to sell global Sodium Borohydride business to Vertellus
The Dow Chemical Company has signed definitive agreements to sell its global Sodium Borohydride business to Vertellus Specialty Materials LLC and its polyolefin films plant in Findlay, Ohio to Valfilm North America, a wholly-owned subsidiary of VALGROUP Packaging Solutions. Both transactions are expected to close in the first quarter of 2015 pending regulatory approvals. Combined proceeds from the transactions total approximately $225M. Dow had previously announced its intent to divest its Sodium Borohydride business on Oct. 2, 2014, as part of the Company’s ongoing focus to maximize value across its integrated portfolio by reducing exposure to non-strategic businesses and assets. Both transactions are part of Dow’s ongoing drive to deliver $7B-$8.5B in gross proceeds by mid-2016. The divestiture of Sodium Borohydride includes a manufacturing facility located in Elma, Washington, the associated business, inventory, customer contracts and lists, process technology, business know-how and certain intellectual property. Approximately 75 employees globally are expected to transition employment status to Vertellus as part of the transaction. Under the terms of the purchase agreement, Vertellus will honor customer and supplier contracts and related agreements. The sale of the Findlay plant includes assets and technology that produce a wide-variety of polyolefin films. In September 2014, Dow decided to close the facility at the end of January 2015, impacting approximately 70 employees. Valfilm intends to restart the facility in February 2015. The transaction is dependent on the final approval for all incentives by the State of Ohio.
08:28 EDTFSLFreescale upgraded at Evercore ISI
As previously reported, Evercore ISI upgraded Freescale to Buy from Hold. The firm upgraded shares based on expectations for better top-line growth in 2015/16 given seasonal strength in Auto and strength in general purpose MCUs. Price target raised to $30 from $20.
07:43 EDTYHOOFollow-up: Yahoo upgraded at BofA/Merrill
As previously reported, BofA/Merrill upgraded Yahoo (YHOO) to Buy from Neutral. The firm upgraded shares based on increased optimism for a Alibaba (BABA) tax solution and a slight improvement in the core business outlook. Price target raised to $62 from $55.
07:28 EDTYHOOYahoo upgraded to Buy from Neutral at BofA/Merrill
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06:51 EDTFSLFreescale upgraded to Buy from Hold at Evercore ISI
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06:01 EDTTTechNet: Combined AT&T/DirecTV will increase broadband development
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