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Stock Market & Financial Investment News

News Breaks
June 26, 2014
09:17 EDTCJES, BCS, AGEN, AUXL, BBBY, NBR, CIDM, UNXL, AA, ONVO, ROYL, ZU, QLTI, PMOn The Fly: Pre-market Movers
HIGHER: Uni-Pixel (UNXL), up 22.7% after achieving roll-to-roll pilot production of InTouch Sensors... Agenus (AGEN), up 12.8% after announcing Phase 2 results for HerpV... Alcoa (AA), up 4.5% after acquiring Firth Rixson for $2.85B in cash and stock... Auxilium (AUXL), up 15.4% after agreeing to merge with QLT Inc. (QLTI). Shares of QLT trading in New York are also up 30%... zulily (ZU), up 3.4% after upgraded at RBC Capital... Nabors (NBR), up 10%, and C&J Energy (CJES), up 9%, after announcing C&J Energy will merge with Nabors' completion and production businesses in a transaction valued at $2.86B... Organovo (ONVO), up 10% after 3D Liver system distinguished toxic drug in study... Royale Energy (ROYL), up 13% after reporting on independent review of two North Alaska drilling targets. DOWN AFTER EARNINGS: Bed Bath & Beyond (BBBY), down 8%... Cinedigm (CIDM), down 15.5%... Steelcase (SCS), down 9.4%. ALSO LOWER: Barclays (BCS), down 5.5% after NY Attorney General Eric Schneiderman announced a lawsuit against the bank... Philip Morris (PM), down 2.3% after lowering its 2014 EPS outlook.
News For BBBY;PM;AA;AUXL;QLTI;UNXL;AGEN;ZU;CIDM;BCS;ROYL;NBR;CJES;ONVO From The Last 14 Days
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September 2, 2015
06:38 EDTBCSMorgan Stanley poaches two brokers from Citigroup, Reuters reports
Morgan Stanley (MS) has poached two brokers from Citigroup's (C) private banking unit, William Goettert and John Entenberg, who managed $1B in client assets and have a combined $5M in production, Reuters reports. Additionally, Morgan Stanley has hired Louis Greif from Barclays' (BCS) U.S. wealth and investment management unit. Reference Link
August 31, 2015
06:35 EDTBCSCiti plans to rebuild equities franchise, Reuters reports
Citigroup (C) is planning to rebuild its equities franchise in an effort to capitalize on a retrenchment by rivals in the face of new rules created to make the financial system less risky, Reuters reports, citing people familiar with the bank's plans. It may be tough to overcome leaders such as Goldman Sachs (GS), Morgan Stanley (MS), and JPMorgan Chase (JPM), that have long dominated the sector, the report says. Citi is aiming to profit from a retreat of rivals slow to adapt new rules forcing banks to keep more capital, the report says. Deutsche Bank (DB), Credit Suisse (CS), and Barclays (BCS) are among others rebuilding their investment banking businesses, the report adds. Reference Link
06:10 EDTBCSBanks lobby EU over privacy rules overhaul, FT reports
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06:10 EDTAAAlcoa implied volatility of 56 at upper end of index
August 28, 2015
10:20 EDTAAAlcoa rallies with Freeport-McMoRan, materials sector
Shares are up over 5% to $9.33 at time of writing, putting it above downtrend resistance at the 10-day moving average. At that price next resistance is at $9.51. Support is at $9.19.
August 27, 2015
08:37 EDTQLTIQLT Inc., InSite Vision agree on amended, restated merger agreement
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08:31 EDTQLTIInsite Vision, QLT amend merger agreement
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07:57 EDTBCSPlatts to hold a conference
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06:13 EDTBCSJudge throws out HFT suit against Barclays, exchanges, FT reports
A U.S. judge has dismissed investor lawsuits against Barclays and certain U.S. exchanges alleging that the bank rigged its "dark pool" trading venue in favor of high-frequency traders, the Financial Times reports. The judge ruled that the plaintiffs did not claim any actions meeting the definition of "manipulative acts," the report says. Reference Link
August 26, 2015
10:24 EDTAACentury Aluminum to curtail Hawesville operations due to weak prices
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10:00 EDTCJESOn The Fly: Analyst Downgrade Summary
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07:58 EDTCJESC&J Energy downgraded to Neutral from Overweight at JPMorgan
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07:06 EDTNBRNabors Industries board authorizes repurchase up to $400M of common shares
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August 24, 2015
12:17 EDTCJESOn The Fly: Top stock stories at midday
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07:38 EDTCJESOilfield Services stocks downgraded at SunTrust
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06:17 EDTPMTobacco groups consolidate brands to maintain customers, WSJ reports
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August 21, 2015
16:34 EDTZUMarket enters correction territory in worst week in four years
For the week, stocks plummeted amid concerns about a slowing Chinese economy and declining oil prices. MACRO NEWS: Monday, the Empire State manufacturing index crashed to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009... Meanwhile, the NAHB homebuilder sentiment index rose to 61 in August from 60 in June, matching consensus estimates... Tuesday, July housing starts edged up 0.2% to 1.206M, beating consensus estimates for 1.180M in the best reading since October 2007. Building permits, however, fell 16.3% to 1.119M against expectations for 1.230M, while single family starts rose 12.8% and multifamily numbers fell 17.0%... Wednesday, the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%... Meanwhile, FOMC minutes showed no definitive indication of a September rate hike... Thursday, initial jobless claims rose to 277,000 from a revised 273,000, bringing the 4-week moving average to 271,500... The Philadelphia Fed index rose 2.6 points to 8.3 in August, beating expectations for a 7.5 reading... Friday, the PMI Manufacturing Index Flash for August came in at a level of 52.9, below the prior level of 53.8 and the consensus level of 54.2. COMPANY NEWS: Monday, Liberty Interactive (QVCA) announced an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B. The acquisition will be attributed to Liberty's QVC tracking stock, though the companies specified that QVC and zulily will operate as separate brands... Amazon (AMZN) founder and CEO Jeff Bezos downplayed a recent New York Times critique of the company's workplace practices, telling employees in an email that "the article doesn't describe the Amazon I know or the caring Amazonians I work with every day..." Tuesday, Wal-Mart (WMT) cut its full year earnings outlook, with company executives on a subsequent conference call expressing confidence in China but noting that Brazil and U.K. remain challenging markets for the company... Wednesday, Seagate Technology (STX) agreed to acquire Dot Hill Systems (HILL) for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016... Thursday, Valeant (VRX) agreed to acquire Sprout Pharmaceuticals for roughly $1B in cash plus a profit-sharing agreement, adding that it expects to bring the company's recently-approved female sexual dysfunction drug Addyi to the U.S. by Q4... Friday, Steiner Leisure (STNR) entered into a definitive merger agreement where an affiliate of Catterton will acquire all of the outstanding shares of Steiner for $65 per share in cash. INDEXES: For the week, the Dow lost about 5.79% to close at 16,459.75, the Nasdaq declined about 6.71% to close at 4,706.04, and the S&P 500 fell about 5.73% to close at 1,970.89.
16:10 EDTAGENAgenus files to sell 1.4M shares of common stock for holders
Stock is issuable upon the exercise of certain warrants.
08:44 EDTQLTIQLT Inc. provides update on proposed acquisition of InSite Vision
QLT Inc. announces that it has been advised by InSite Vision that the board of InSite has determined in good faith after consultation with its independent financial and legal advisors that the previously announced unsolicited offer from a multi-national pharmaceutical company to acquire all of the issued and outstanding shares of InSite constitutes a "Company Superior Proposal" as defined in the Agreement and Plan of Merger, dated June 8, by and among Insite, QLT and Isotope Acquisition Corp., as amended and restated. InSite has further advised QLT that InSite intends, subject to QLT's right to match the Proposal, to terminate the Merger Agreement and enter into an agreement with the Bidder to implement the Proposal. Under the Merger Agreement, QLT has the option until 5:00 p.m. PDT on Wednesday, August 26, to negotiate a possible amendment to the terms of the Merger Agreement to match or exceed the Proposal. InSite has advised QLT that it intends to negotiate in good faith with QLT during the Negotiation Period. If at the end of the Negotiation Period such amended QLT proposal results in the Proposal not being a "Company Superior Proposal" under the Merger Agreement, InSite and QLT will enter into an agreement to reflect the amended terms of the transaction. In the event that QLT elects not to match or exceed the Proposal and if InSite terminates the Merger Agreement in order to enter into an agreement with the Bidder, then InSite is required to pay a termination fee to QLT in the amount of $1.17M. QLT is considering its position with respect to the Proposal and its matching right, and will keep the market apprised of further developments.
08:31 EDTQLTIInSite Vision says unsolicted offer a 'company superior proposal'
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