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Stock Market & Financial Investment News

News Breaks
June 18, 2014
12:33 EDTBBRY, LZB, FDX, CAG, AMZN, ADBEOn The Fly: Midday Wrap
Stocks opened slightly lower this morning and then moved back and forth across the flat line a couple of times in a narrow range. Investors are in a holding pattern, typical for a day when the FOMC rate decision is expected. Investors will be waiting to see if the Fed has any change in policy including the timing of any change in bond buying tapering or interest rate increases. As the European markets closed, the market has drifted to the downside with all three major equity indices slightly lower. ECONOMIC EVENTS: The U.S. MBA mortgage market index sank 9.2% in data released earlier, along with a 4.7% drop in the purchase index and a 12.7% dive in the refinancing index for the week ended June 13... The EIA inventory data showed a 600k barrel fall in crude stocks. The street had been expecting a 1/0 M barrel decrease. COMPANY NEWS: BlackBerry (BBRY) announced that the Amazon (AMZN) Appstore will be available with the launch of the BlackBerry 10.3 operating system this fall, greatly expanding app and game access to BlackBerry customers. MAJOR MOVERS: FedEx (FDX) is up 4.85% after the company reported Q4 earnings and giving FY15 guidance... Adobe Systems (ADBE) is up 7.23% after the company reported Q2 earnings and gave Q3 guidance... ConAgra (CAG) is down 7.67% after the company cut its EPS outlook for Q4... La-Z-Boy (LZB) is down 8.41% after the company reported Q4 earnings last night. INDEXES: Near noon, the Dow was down 34.55, or 0.21%, to 16,773.94; the Nasdaq was down 6.45, or 0.15%, to 4,330.78; and the S&P 500 was down 1.12, or 0.06%, to 1,940.87.
News For BBRY;AMZN;FDX;ADBE;CAG;LZB From The Last 14 Days
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June 19, 2015
07:20 EDTCAGConAgra board may be reluctant to a break-up, says Deutsche Bank
After JANA Partners reported an activist stake in ConAgra, Deutsche Bank says its sense is that the board is reluctant to breaking up the company's parts. Nonetheless, Deutsche laid out its "optimistic" sum-of-the-parts analysis, which yields a $47 target for the stock. This includes $27 for the Consumer division, $11 for Commercial, $6 for Private Brands and $3 for the Ardent joint venture. The firm raised its price target for ConAgra shares to $38 from $36 and keeps a Hold rating on the name
07:16 EDTCAGConAgra breakup unlikely, says Credit Suisse
Credit Suisse raised Neutral rated ConAgra's price target to $42 from $34 following the announcement of activist investor Jana Partners' 7.2% stake in the company. The firm said ConAgra's enormous debt load from the Ralcorp acquisition limits upside potential from an all-out break up and doubts the Board would consider this option. Credit Suisse believes the most logical recommendation would be to sell the struggling private label business to TreeHouse for $4B in a tax advantaged structure relieving management from the distraction of turning the business around.
06:46 EDTCAGConAgra price target raised to $44 from $37 at Bernstein
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05:55 EDTCAGStocks with implied volatility above IV index mean; THC CAG
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05:52 EDTAMZNStocks with implied volatility movement; AMZN QCOM
Stocks with implied volatility movement; Amazon.com (AMZN) 24, Qualcomm (QCOM) 19 according to iVolatility.
June 18, 2015
19:00 EDTCAGOn The Fly: After Hours Movers
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17:57 EDTCAGJANA prepared to seek three ConAgra board seats
JANA is prepared, if necessary, to nominate Messrs. Alford, Lawrence and Rosenstein for election to ConAgra's board of directors and to participate in the solicitation of proxies in support of the Potential Nominees. JANA believes that the Potential Nominees possess the necessary expertise, experience and focus on shareholder value to help the Board evaluate and address opportunities for shareholder value creation, including but not limited to: undertaking a strategic review of the company’s strategy and corporate structure to determine if its businesses are optimally positioned to succeed, as well as various potential alternative transactions and structures; addressing the company’s operational performance and cost structure; and optimizing the company’s capital allocation policies and capital structure. JANA has requested, however, that the company delay the June 21 deadline to submit notice of stockholder nominations for the company’s 2015 annual meeting of stockholders in order to give the company and JANA more time to have collaborative discussions regarding the steps JANA believes the company should take to maximize shareholder value, as well as why JANA believes stockholders would benefit from the addition of the Potential Nominees to the Board.
16:59 EDTCAGConAgra says 'looks forward to opening discusssions with JANA'
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16:53 EDTCAGConAgra up 6.1% after Jana Partners reports stake, says company is undervalued
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16:52 EDTCAGJana Partners reports 7.2% stake in ConAgra
Jana Partners acquired the shares because they believe the shares are undervalued and represent an attractive investment opportunity. JANA believes that the company has significantly underperformed in shareholder value creation. Most significantly, the acquisition of Ralcorp Inc. in January 2013, which in JANA’s opinion was the most significant recent strategic decision made by the board, has been followed by disappointing performance for shareholders, repeated guidance misses, negative revisions to long term earnings targets, no dividend per share growth, and operating performance challenges. Issues with this acquisition led to the company taking a $1.3B impairment on March 26, after which JANA began purchasing the shares and analyzing opportunities for improved shareholder value creation. JANA believes that in the period since the Ralcorp acquisition, the board has failed to adequately address the shareholder value destruction and persistent underperformance that followed the Ralcorp acquisition.
12:04 EDTAMZNActive options: AAPL ORCL FB RAD BAC HTZ MU GE TSLA AMZN BABA KO
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10:54 EDTAMZNAmazon says long-term pact struck with publisher Penguin, AP reports
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10:33 EDTADBE, FDXOptions with decreasing implied volatility
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09:35 EDTAMZNActive equity options trading on open
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08:16 EDTFDXFedEx pullback yesterday a buying opportunity, says Citi
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08:15 EDTBBRYBlackberry June weekly volatility elevated into Q1 and outlook
Blackberry June weekly call option implied volatility is at 65, July is at 49, August is at 45; compared to its 52-week range of 34 to 75, suggesting non-directional price movement into the expected release of Q1 results on June 23.
08:14 EDTAMZNAmazon.com international EGM revenues poised to accelerate, says Bernstein
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08:11 EDTBBRYMorgan Stanley continues to believe BlackBerry will revise FY16 guidance down
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08:04 EDTAMZNGoogle accelerating pace of cloud product innovation, says Baird
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07:32 EDTFDXFedEx setback is temporary, says UBS
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