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Stock Market & Financial Investment News

News Breaks
January 29, 2014
12:40 EDTEA, YHOO, BA, AOL, VRNG, DOW, MKC, GOOG, TOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday ahead of the last FOMC policy decision announcement of Ben Bernanke's tenure. Stocks began the session deep in negative territory thanks in part to foreign currency pressures in a number of emerging markets, including Turkey, Argentina and South Africa. There was also weakness in Dow components Boeing (BA) and AT&T (T) following their earnings reports. The market had recouped a fair part of its losses by noon as investors await the Fed's decision and the associated comments following its two day rate-setting meeting that concludes today. ECONOMIC EVENTS: In the U.S., the FOMC statement is scheduled to be released at 2:00 pm ET. In emerging markets, South Africa's central bank decided to increase interest rates for the first time in almost six years and the rand tumbled sharply after the country’s bid to halt the decline in the currency appeared to have backfired within minutes of the announcement. The reaction sparked a renewed sell-off in emerging market currencies, including the Turkish lira, which gave up all the gains it had registered after Turkey's central bank took aggressive action overnight to tighten its monetary policy. COMPANY NEWS: Dow member Boeing reported better than expected fourth quarter results, but the commercial airplane maker is the worst loser on the blue-chip index after it also issued guidance for fiscal 2014 that fell significantly short of expectations. Boeing guided to FY14 core EPS and revenue that were both well below consensus expectations. The company said it expects to make commercial deliveries of 715 to 725 planes in 2014 and expects operating cash flow of about $6.25B in 2014. Analysts at Wells Fargo said Boeing's cash flow outlook in particular could pressure shares, as it could imply no major ramp-up in share repurchases, and the stock was down over 6% near midday... Fellow Dow component AT&T was the second worst performer among its peers following its own quarterly report, issued last night after the close. Like Boeing, the telecom company reported results that beat expectations for the just-completed quarter, but the phone carrier's stock slid nearly 2% after it said it expects adjusted earnings per share to grow in the mid-single digits in the coming year, with revenue expected to be up only 2%-3%. MAJOR MOVERS: Among the notable gainers was Dow Chemical (DOW), which rose over 3.5% after reporting fourth quarter profits and revenue that both exceeded analysts' consensus estimate and increasing its quarterly dividend and its share repurchase program. Also higher was video game maker Electronic Arts (EA), which advanced more than 3% after raising its fiscal year earnings outlook and being upgraded to Buy from Neutral at BofA Merrill Lynch. Shares of Vringo (VRNG) rose almost 30% after the company received a 6.5% royalty rate from a judge in its suit against Google (GOOG) and AOL (AOL). Among the noteworthy losers was Yahoo (YHOO), which fell more than 7% after issuing a first quarter outlook that disappointed and being downgraded to Hold from Buy at Gabelli. Also lower after issuing a lower than expected outlook was spice maker McCormick (MKC), which slid almost 7%. INDEXES: Near midday, the Dow was down 150.05, or 0.94%, to 15,778.51, the Nasdaq was down 27.28, or 0.67%, to 4,070.68, and the S&P 500 was down 12.36, or 0.69%, to 1,780.14.
News For BA;T;DOW;YHOO;GOOG;VRNG;EA;MKC;AOL From The Last 14 Days
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June 16, 2015
13:06 EDTYHOOYahoo shares strengthen after CEO comments on Alibaba spinoff
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13:03 EDTYHOOYahoo CEO says going forward with Alibaba spinoff as planned, Bloomberg says
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13:02 EDTYHOOYahoo: IRS changes seem to be procedural in spinoff treatment, Bloomberg says
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10:51 EDTBABoeing announces Korean Air intent to purchase 30 737 MAXs
Boeing and Korean Air announced the airline's intent to purchase 30 737 MAXs and two additional 777-300ER jetliners, with options for an additional 20 737 MAXs. The agreement is valued at approximately $3.9B at current list prices. Boeing will work with Korean Air to finalize the order, at which time the order will be posted to the Orders & Deliveries website, Boeing stated.
10:01 EDTAOLAOL and Georgia Pacific announce partnership
AOL and Georgia-Pacific announced their partnership on a large-scale, digital custom content campaign for six of their portfolio brands including: Angel Soft, Brawny, Dixie, Quilted Northern, Sparkle and Vanity Fair. The goal of the partnership is to reach consumers in new ways.
08:17 EDTTElephant Talk reaches $13.5M global settlement with Grupo Iusacell
Elephant Talk Communications (ETAK) reports it ended its relationship with Grupo Iusacell and agreed to a global settlement worth approximately $13.5M in favor of Elephant Talk, consisting of $12.6M in cash and the remaining balance in exchange for certain obligations of Elephant Talk to Iusacell. The cash payment will be reflected on the company's financial reports for the quarter ended June 30. The termination was to allow for AT&T (T) and Iusacell to ensure consistency of infrastructure suppliers in their businesses, Elephant Talk said.
08:02 EDTDOWDow Chemical and Olin announce achievement of milestone
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08:01 EDTDOWDow Chemical, Olin announce expiration of HSR waiting period
The Dow Chemical Company (DOW) and Olin Corporation (OLN) announced the achievement of a regulatory milestone in the proposed transaction involving a significant portion of Dow’s chlorine value chain and Olin Corporation, with the expiration of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. “This important milestone marks progress toward the close of a seminal transaction maximizing return for both Dow and Olin shareholders and the advancement of Dow’s targeted market participation and portfolio transformation strategies,” said Andrew N. Liveris, Dow’s chairman and CEO.As previously announced on March 27, Dow and Olin entered into a definitive agreement under which Dow will separate its U.S. Gulf Coast Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses, and then merge these businesses with Olin in a Reverse Morris Trust transaction. The merger will result in Dow shareholders receiving at least a majority of the shares of Olin, with existing Olin shareholders owning the remaining shares. The transaction is expected to close by the end of the year and is subject to approval by Olin shareholders and completion of customary closing conditions.
07:51 EDTGOOGTwitter downgraded to Neutral at MKM Partners on stalled user growth
As previously reported, MKM Partners analyst Rob Sanderson downgraded Twitter (TWTR) to Neutral from Buy, noting that growth in its user base is stalling out and he sees no catalyst for sentiment to improve in the next two quarters, besides a possible bid from Google (GOOG). Sanderson thinks the company's CEO search brings with it some uncertainty and likely delays user experience improvements, unless Jack Dorsey takes over full-time, but that would require him to give up his CEO post at Square. The firm lowered its estimates on Twitter and cut its price target on the shares to $39 from $57.
07:43 EDTBABoeing and Minsheng sign MOU for purchase of thirty 737 airplanes
Boeing and Minsheng Financial Leasing signed a Memorandum of Understanding, or MOU, at the Paris Air Show for the purchase of thirty 737 airplanes, a mix of Next-Generation 737 and 737 MAX airplanes.
07:27 EDTAOLVerizon CFO: company wants to keep AOL portfolio together, WSJ says
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07:17 EDTBABoeing awarded $3.2B order by Ruili Airlines for thirty 737 MAXs
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06:10 EDTBAAirbus, Boeing, Lockheed among companies eyeing Sikorsky, WSJ says
Guillaume Faury, the president of Airbus Helicopters (EADSY), is said to be watching United Technologies' (UTX) plan to offload its Sikorsky unit, though Airbus has not committed to making a bid for its rival, The Wall Street Journal reports. United Tech said yesterday that it will sell or spin off Sikorsky, which makes Black Hawk helicopters, within the next two months. Sources say that in addition to Airbus potentially being interested in Sikorsky, there is also interest coming from Lockheed Martin (LMT), Boeing (BA) and Textron (TXT). Reference Link
06:01 EDTGOOGNeal Mohan not leaving Google for Dropbox, Re/code reports
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05:53 EDTBABoeing, SMBC Aviation Capital announce order for 10 737 MAX 8s
Boeing and SMBC Aviation Capital announced an order for 10 737 MAX 8s today at the Paris Air Show. This deal adds to a 2014 order placed by the lessor for 80 737 MAX 8s for a total of 90 on order.
05:52 EDTGOOGStocks with implied volatility movement; GOOG VXX
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05:52 EDTBABoeing remains on track to deliver 750-755 airplanes
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05:50 EDTBABoeing, AerCap announce order for 100 737 MAX 8s
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05:46 EDTBABoeing and Sriwijaya Air announce order for two next-gen 737-900ERs
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05:34 EDTBAUTC Aerospace Systems extends long term CARE agreement with Japan Airlines
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