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News Breaks | | | | April 19, 2012 | | 16:33 EDT |  | GILD, GNTX, EBAY, GSK, HGSI, TUMI, SPLK, DD, TRV, VZ, BAC | On The Fly: Closing Wrap
Stocks on Wall Street were lower, as disappointing economic data overshadowed earnings that were largely better than expected. Stock futures were higher in early trading but weakened following disappointing jobless claims data and a rumor the sovereign debt of France would lose its AAA rating. When the French rumor went unfounded the market moved higher, but just temporarily. The averages stalled again after existing home sales data for March showed a decline versus an expected increase but gathered once more to move back into positive territory. As the day progressed and the European markets closed lower, the averages lost any momentum they'd found and fell back into negative ground. For the remainder of the day the market drifted in the red as investors prepared for the next round of corporate earnings reports... ECONOMIC EVENTS: In the U.S., more jobless claims applications were filed than forecast, with the figure hitting 386,000. Sales of previously owned homes in March unexpectedly fell 2.6% to a 4.48M annual rate from 4.6M in February. Forecasts had called for an increase to 4.61M. In Europe, Spain was able to sell more bonds than expected but at higher yields, leaving mixed impressions among investors... COMPANY NEWS: Bank of America (BAC) posted Q1 adjusted results that beat consensus, but shares declined 1.68% to $8.77. Among other Dow components, Verizon (VZ) and Travelers (TRV) also reported earnings that exceeded expectations and both saw their shares rise following the reports, with Verizon gaining 1.30% to $38.15 and Travellers advancing 3.75% to $61.70. Du Pont (DD) was the fourth Dow name to beat on earnings, but shares fell 1.24% to $52.61... Meanwhile, data analysis software company Splunk (SPLK) and luxury luggage and briefcase maker Tumi Holdings (TUMI) both surged after debuting their IPOs on the Nasdaq. Splunk shares priced at $17 and ended the day at $35.48, while Tumi priced at $18 and closed at $26.50… MAJOR MOVERS: Among the notable gainers were Human Genome Sciences (HGSI), up $7, or 97.63%, to $14.17, after saying it had turned down an unsolicited $13 per share, or approximately $2.6B, buyout proposal from GlaxoSmithKline (GSK), and eBay (EBAY), up $4.75, or 13.24%, to $40.62, as the company’s sales and profits beat analyst estimates, led by growth in its PayPal online payments business. Noteworthy losers included Gentex (GNTX), down $4.07, or 16.01%, to $21.35, after its top-line miss continued to reinforce investor fears over slowing growth, and Achillion (ACHN), down $1.20, or 12.63%, to $8.30, with the decline attributed by Wells Fargo to positive data for Gilead's (GILD) oral hepatitis C combination treatment… INDICES: The Dow lost $68.65, or 0.53%, to 12,964.10; the Nasdaq fell $23.89, or 0.79%, to 3,007.56; and the S&P 500 dropped $8.22, or 0.59%, to 1,376.92. | |
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News For BAC;VZ;TRV;DD;SPLK;TUMI;HGSI;GSK;EBAY;GNTX;GILD From The Last 14 Days Check below for free stories on BAC;VZ;TRV;DD;SPLK;TUMI;HGSI;GSK;EBAY;GNTX;GILD the last two weeks. |
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| May 22, 2013 | | 09:02 EDT |  | BAC | Financials upgraded to Overweight from Market Weight at Wells Fargo
Wells Fargo believes that financials' earnings continue to be the strongest of any sector in the S&P 500. The firm thinks that the sector's stocks appear to be breaking out from a technical standpoint. Citigroup (c) and Ameriprise Financial (AMP) are on the firm's priority list. | | | 08:42 EDT | | VZ | Vodafone an attractive way to play trends at Verizon Wireless, says RW Baird at RW Baird
 Subscribe for More Information | | | 08:25 EDT |  | GSK | GlaxoSmithKline awarded up to $200M by U.S. to develop new antibiotics
Subscribe for More Information | | | 07:42 EDT |  | VZ | Barclays to host a conference
Subscribe for More Information | | | 07:24 EDT | | VZ | NetEvents International to host a summit
Subscribe for More Information | | | 07:22 EDT | | BAC | Dun & Bradstreet to hold a conference
2013 Access to Capital is being held in Chicago on May 22. | | | 07:08 EDT |  | VZ | Phone companies start selling subscriber data, WSJ reports
Subscribe for More Information | | | 06:02 EDT | | VZ | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Since the financial crisis, bonds backed by a single loan have been less common than securities made up of a group of unrelated loans. But the market for loans on commercial properties has changed in recent months and is booming again--$12.1B so far this year--the Wall Street Journal reports...Big phone companies (SAP, T, TEF, VZ, VOD, CCO) have begun to sell the vast amounts of data they gather about their subscribers' locations, travels and Web-browsing habits. The information provides a powerful tool for marketers but raises new privacy concerns, the Wall Street Journal reports...REUTERS: Apple's (AAPL) ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs. Apple channeled profits into Irish-incorporated subsidiaries that had no declared tax residency anywhere in the world, Reuters reports...The dollar languished well below last week's 4 1/2-year high against the yen today, ahead of testimony from the Fed Chairman Bernanke after two regional Fed presidents hinted that the central bank will continue its bond-buying scheme, Reuters reports...BLOOMBERG: Samsung (SSNLF) and LG Electronics are reworking their strategies for high-end TVs after spending billions of dollars on a new display technology that’s behind schedule and costs nearly $10,000 a set. The misstep has created an opening for Sony (SNE), Sharp (SHCAY) and Chinese maker Skyworth Digital, Bloomberg reports...Apple’s (AAPL) bonds have lost $280.6M of market value since buyers snapped up $17B of the iPhone maker’s debt last month, declining as yields climb from record lows, Bloomberg reports. | | | May 21, 2013 | | 16:55 EDT | | GNTX | Gentex promotes Steve Downing to CFO
Subscribe for More Information | | | 16:51 EDT | | GILD | Gilead's sofosbuvir gets EMA validation, now under assessment
Subscribe for More Information | | | | 15:19 EDT |  | TRV | Travelers remains below its 10-day moving average, levels to watch
Subscribe for More Information | | | 14:25 EDT | | EBAY | RadioShack to introduce PayPal in all stores this month, Reuters says
RadioShack (RSH) will introduce PayPal, the online payment system owned by eBay (EBAY), in all of its retail stores starting this month, reports Reuters. Reference Link | | | 07:44 EDT | | GSK | Sachs Associates to host a forum
Subscribe for More Information | | | 07:32 EDT | | VZ | CTIA–The Wireless Association to host a conference
Subscribe for More Information | | | 07:13 EDT | | BAC | U.S. bank mergers less likely this year, Bloomberg reports
Subscribe for More Information | | | 07:07 EDT | | GSK | Theravance pullback on Elan bid a buying opportunity, says Piper Jaffray
Subscribe for More Information | | | 05:50 EDT | | VZ | Vodafone to invest $3.15B Verizon dividend on business, WSJ reports
Vodafone Group said it will keep the $3.15B dividend payment it will receive from Verizon Wireless and invest it in its flagging operations in Europe, which weighed heavily on its full-year profit, reports the Wall Street Journal. Reference Link | | | May 20, 2013 | | 10:11 EDT |  | BAC | On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Artisan Partners (APAM) downgraded to Market Perform from Outperform at Keefe Bruyette... Bank of America (BAC) downgraded to Market Perform from Outperform at Keefe Bruyette... Bed Bath & Beyond (BBBY) downgraded to Hold from Buy at Jefferies... BlackRock (BLK) downgraded to Market Perform from Outperform at Keefe Bruyette... Cavium (CAVM) downgraded to Market Perform from Outperform at JMP Securities... Charles Schwab (SCHW) downgraded to Underperform from Market Perform at Keefe Bruyette... Dunkin' Brands (DNKN) downgraded to Neutral from Buy at Longbow... Equifax (EFX) downgraded to Neutral from Buy at Goldman... Leap Wireless (LEAP) downgraded to Sell from Hold at Deutsche Bank... Lowe's (LOW) downgraded to Perform from Outperform at Oppenheimer... MicroStrategy (MSTR) downgraded to Market Perform from Outperform at JMP Securities... NetApp (NTAP) downgraded to Underperform from Neutral at RW Baird... NeuStar (NSR) downgraded to Neutral from Buy at Goldman... Red Hat (RHT) downgraded to Market Perform from Outperform at BMO Capital... Ruby Tuesday (RT) downgraded to Market Perform from Outperform at Wells Fargo... Synovus (SNV) downgraded to Sell from Neutral at Goldman... TD Ameritrade (AMTD) downgraded to Underperform from Market Perform at Keefe Bruyette... Thoratec (THOR) downgraded to Neutral from Buy at Goldman... CF Industries (CF) downgraded to Hold from Buy at Miller Tabak... Children's Place (PLCE) downgraded at Susquehanna... CarMax (KMX) downgraded to Market Perform from Outperform at William Blair... SanDisk (SNDK) downgraded to Neutral from Buy at Nomura... Red Hat (RHT) downgraded at BMO Capital... Rex Energy (REXX) downgraded to Hold from Buy at Stifel... Range Resources (RRC) downgraded to Hold from Buy at Stifel... Kansas City Southern (KSU) downgraded to Sell from Hold at Stifel... Capella Education (CPLA) downgraded to Hold from Buy at Stifel. | | | 08:28 EDT | | SPLK | Splunk has opportunity to expand market, says Pacific Crest
Subscribe for More Information | | | 08:04 EDT | | DD | BofA/Merrill's U.S. chemicals analyst holds an analyst/industry conference call
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