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Stock Market & Financial Investment News

News Breaks
January 15, 2014
12:18 EDTNUS, CHTP, QIWI, GM, DTLK, BACOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday following a better than expected report on manufacturing in the New York region as well as solid earnings from Bank of America (BAC). Renewed optimism surrounding the earnings season following reports from three of the largest U.S. banks has given investors the confidence to push the Dow to its second triple digit gain in a row. ECONOMIC EVENTS: In the U.S., the 0.4% increase in the producer-price index in December from the prior month matched economists' estimate. The "core" measure, which excludes food and energy, climbed 0.3%, which was more than the 0.1% forecast. The Empire State manufacturing index surged to 12.5 in January from a revised 2.2 reading for December, beating expectations for a more modest rise to 3.5. Also, in its latest Global Economic Prospects report the World Bank raised its forecast for global economic growth to 3.2% this year from 2.4% in 2013. COMPANY NEWS: Bank of America grew its fourth quarter earnings to 29c a share, which was greatly increased from the 3c a share it posted in the same period last year earlier and also exceeded the 26c a share that analysts had expected. Shares of the bank, the third large U.S. bank to report in the last two days, rose about 2.5% near midday following the report... General Motors (GM) shares were down nearly 2% amid a number of newsworthy developments. The automaker declared a 30c per share quarterly common stock dividend, its first dividend since coming out of bankruptcy, and appointed a new Chief Financial Officer. GM also said it expects its earnings before interest and tax to be "modestly improved" in 2014, but warned it expects restructuring costs this year of $1.1B. MAJOR MOVERS: Among the notable gainers was Chelsea Therapeutics (CHTP), whose share price more than doubled after an FDA advisory committee voted to support approval of Northera for the treatment of neurogenic orthostatic hypotension. Also higher was Datalink (DTLK), a designer of servers, storage and networks, which soared 28% after the company raised its fourth quarter outlook. Among the noteworthy losers was multi-level marketer Nu Skin (NUS), which fell 19% after a cautious article about the company was published in the Chinese-language periodical "People's Daily." However, the company said in a statement to Bloomberg that the report contained inaccuracies. Also lower were shares of Qiwi (QIWI), a provider of payment services in Russia, which fell over 17% after Russia's Kommersant reported that the country may limit domestic payments using anonymous electronic wallets and ban cross-border payments using them. INDEXES: Near midday, the Dow was up 121.28, or 0.74%, to 16,495.14, the Nasdaq was up 28.42, or 0.68%, to 4,211.44, and the S&P 500 was up 10.29, or 0.56%, to 1,849.17.
News For BAC;GM;CHTP;DTLK;QIWI;NUS From The Last 14 Days
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May 14, 2015
12:49 EDTQIWIOn The Fly: Top stock stories at midday
The market opened higher amid lower than expected weekly jobless claims, data showing that producer prices fell rather than rose in April and a continued slide in the dollar against the euro. The Dow notched triple digit gains right out of the gate and the averages have moved in a narrow range in morning trading, albeit at near-record levels. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 1K to 264K in the week ended May 9, versus expectations for 273K first-time claims. The weekly data brought the four week moving average to 271.75K, which marks its lowest level in 15 years. The Producer Price Index fell 0.4% in April, with the core PPI reading sliding 0.2%, which missed expectations for both the headline and core PPI figures to have grown 0.1%. After dropping 1.3% yesterday against the euro, the U.S. dollar slid another 0.4% earlier to about $1.14 per euro, bringing its decline to about 7% versus the euro in the past month. COMPANY NEWS: Shares of Avon Products (AVP) were volatile after "PTG Capital Partners" announced via a filing with the SEC that it has submitted an offer to the board of Avon proposing to acquire all of the company's outstanding stock, and outstanding options to acquire such shares, in a recommended cash tender offer at a price per share of $18.75. Shares of Avon spiked initially after the filing, were halted several times due to volatile trading, and came well off their earlier highs as investors questioned the validity of the firm making the purported offer. A source told Dow Jones that the company was treating the purported bid as a hoax and Avon told CNBC that it had no proof PTG exists and that it has not received any offer. Still, Avon remained up about 4% to trade near $6.92 per share in early afternoon trading. MAJOR MOVERS: Among the notable gainers was Russia's QIWI (QIWI), which jumped 12% after the company announced that it has entered into an agreement with Otkritie to acquire the Contact money transfer system and the Rapida payment processing system, which are "highly value accretive" acquisitions according to analysts at JPMorgan. Also higher was China's Ctrip.com (CTRP), which gained 10% and was upgraded at Stifel and Oppenheimer following the company's Q1 results. Among the noteworthy losers was Puma Biotechnology (PBYI), which dropped 18% after data on the company's neratinib drug was disclosed via an abstract for the company's upcoming presentation at the American Society of Clinical Oncology, or ASCO, meeting. Also lower following its earnings report was retailer Kohl's (KSS), which slid over 12%. INDEXES: Near midday, the Dow was up 170.23, or 0.94%, to 18,230.72, the Nasdaq was up 55.96, or 1.12%, to 5,037.65, and the S&P 500 was up 17.10, or 0.81%, to 2,115.58.
11:43 EDTGMU.S. appeals court dismisses UAW retiree benefit suit, Reuters reports
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09:03 EDTGMGeneral Motors to invest $1B in Warren Technical Center campus
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07:47 EDTQIWIQIWI price target raised to $50 from $38 at JPMorgan
JPMorgan raised its price target for QIWI to $50 from $38 calling the company's acquisition of Contact and Rapida "highly value accretive." The firm also views QIWI's Q1 results a "strong beat." It reiterates an Overweight rating on the stock.
06:36 EDTQIWIQIWI announces acquisition of Contact and Rapida
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06:35 EDTQIWIQIWI says economic slowdown in Russia could have negative effect on company
QIWI said it has started to note the effects of the macroeconomic slowdown in Russia in the second half of 2014 and especially in Q4, which may be long lasting and could have a significant negative effect on both consumer spending and the banking system in Russia and, accordingly, on QIWI's business in the future. The extent of the slowdown, and if that were to result in a full scale banking crisis, is yet to be assessed. QIWI says it does not currently have enough visibility on our Total Adjusted Net Revenue and Adjusted Net Profit in 2015. QIWI reiterates the 2015 guidance based on the current understanding of the macroeconomic situation, which is subject to change.
06:33 EDTQIWIQIWI backs FY15 adjusted net revenue to increase 12%-16%, consensus RUB 10.03B
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06:33 EDTQIWIQIWI reports Q1 adjusted EPS RUR 14.78, consensus RUR 16.16
Reports Q1 adjusted net revenue RUB 2.52B, consensus RUR 2.15B. Reports Q1 Payment adjusted net revenue RUB 1.84B. The total average Net Revenue Yield was 1.59%, an increase of 33 bps as compared with 1.26% in the prior year. The number of active kiosks and terminals was 177,448, an increase of 6% compared with the prior year.
May 13, 2015
09:39 EDTBACActive equity options trading on open
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08:11 EDTGMGeneral Motors and Toyota implement Microchip's infotainment networking devices
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07:29 EDTBACUBS to hold a conference
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May 12, 2015
19:31 EDTGMGM recalls 522,000 Malibu, Colorado, Canyon models, Auto News says
General Motors is recalling roughly 53,000 2015 Chevrolet Colorado and GMC Canyon pickup trucks due to faulty seat frame hooks, as well as 469,000 2011-2012 Chevrolet Malibus with weak seat belt cables, reports Automotive News, citing an emailed statement from the company. GM said it is aware of 36 claims and one minor injury related to the Malibu seat belt defect, though no accidents or fatalities have been reported. Reference Link
17:10 EDTGMGeneral Motors halts Brazilian factory over shipping troubles, Reuters says
GM has halted production at a factory in southern Brazil after transportation firms Tegma and Transzero stopped shipping cars from the plant, reports Reuters, citing company statements. Reference Link
14:13 EDTBACBove says it may be time to buy bank stocks
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May 11, 2015
16:00 EDTBACOptions Update; May 11, 2015
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10:44 EDTGMGM ignition fund approves claims for 100 deaths, Detroit News says
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10:27 EDTNUSFMR reports 10.64% passive stake in Nu Skin
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09:58 EDTBACBarclays expected to pay GBP2B to settle forex rigging charges, FT says
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09:37 EDTBACActive equity options trading on open
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08:18 EDTBACBanks executives seek to push back on 'false, damaging' statements, WSJ reports
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