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Stock Market & Financial Investment News

News Breaks
March 28, 2014
12:16 EDTBBRY, CBS, CBSO, RH, RHT, IDRA, PCGOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the market looks to finish a relatively down week on an up note. The Nasdaq average, which has been down after all but one session this week, is reversing the trend and leading the other averages near noon. ECONOMIC EVENTS: In the U.S., personal income and consumer spending both rose 0.3% in February, matching expectations. The core PCE price index rose 0.1% in the month, which was also in-line with estimates. The final University of Michigan consumer sentiment reading for March came in at 80.0, which was down from February's 81.6 reading and a bit below expectations. In Europe, an index of executive and consumer sentiment rose to 102.4 in March from 101.2 in February, beating the consensus estimate of economists. COMPANY NEWS: Shares of beleaguered smartphone maker BlackBerry (BBRY) initially advanced after the company reported quarterly losses that were not as bad as analysts expected, excluding certain adjustments. BlackBerry said about 3.4M of its smartphones were sold through to end customers in the quarter, which included about 2.3M BlackBerry 7 devices. The company also said it continues to look for opportunities to streamline operations and is targeting break even cash flow results by the end of fiscal 2015. By midday the stock had given up all its early session gains to be down about 2%... CBS (CBS) rose more than 1% after the successful initial public offering of its outdoor advertising subsidiary CBS Outdoor Americas (CBSO). After the offering, CBS owns approximately 83% of CBS Outdoor, which plans to convert into a real estate investment trust later this year. The IPO priced at $28.00 per share and the new stock began trading at $30.10 in its debut this morning. MAJOR MOVERS: Among the notable gainers was home furnishing retailer Restoration Hardware (RH), which rose 12% after the company’s first quarter profit view beat estimates. Also higher were shares of Idera Pharmaceuticals (IDRA), which rose 11% after the company's Phase 2 trial of its treatment for moderate-to-severe plaque psoriasis met its primary objective. Among the noteworthy losers was PG&E Corporation (PCG), which dropped 4% after reporting that they expect that the federal government will bring criminal charges against the utility in connection with the 2010 San Bruno natural gas transmission pipeline accident. Following the announcement the stock was downgraded this morning at Deutsche Bank and Citigroup. Also lower was open source software provider Red Hat (RHT), which fell over 4% after the company’s profit outlook trailed analysts’ consensus estimate. INDEXES: Near midday, the Dow was up 124.94, or 0.77%, to 16,389.17, the Nasdaq was up 40.21, or 0.97%, to 4,191.44, and the S&P 500 was up 15.11, or 0.82%, to 1,864.15.
News For BBRY;CBS;CBSO;RH;RHT;IDRA;PCG From The Last 14 Days
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September 10, 2014
06:00 EDTBBRYStocks with implied volatility top IV index mean; BBRY YHOO
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05:56 EDTCBSStocks with implied volatility movement; UNG CBS
Stocks with implied volatility movement; United States Natural Gas Fund (UNG) 31, CBS (CBS) 25 according to iVolatility.
September 9, 2014
08:37 EDTRHRestoration Hardware set-up favorable into earnings, says Jefferies
Jefferies views the set-up for shares of Restoration Hardware as favorable into the company's Q2 results Wednesday night. The firm believes Restoration can top the high-end of sales guidance and that concerns around product margin are overblown. Jefferies notes that as of mid-August, the short interest in the name was 21% of the float at 7.4M shares. It believes shorting the stock into the earnings announcement would be "unwise" and keeps a Buy rating on Restoration Hardware with an $88 price target.
September 8, 2014
11:57 EDTCBSCBS confirms James Corden as host of "The Late Late Show"
The CBS Television Network announced that James Corden will be the new host of THE LATE LATE SHOW. Corden – a multi-faceted performer, host, writer and producer with accomplishments that span television, theater, film and comedy – will take the reins of the daily late night show in 2015. He is a Tony Award-winning performer on Broadway, a BAFTA-winning star of a UK television series, a feature film actor with two releases this year, and an acclaimed host, writer and producer in several genres of television.
11:07 EDTCBSCBS picks James Corden for "Late Late Show," Variety reports
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11:05 EDTRHTOptions with increasing implied volatility
Options with increasing implied volatility: NPSP GILD VNET AVNR GTAT YHOO RHT VRTX SDRL COV MYL
September 5, 2014
11:47 EDTRHTOptions with increasing implied volatility
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September 4, 2014
11:05 EDTRHTOptions with increasing implied volatility
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10:32 EDTRHTCisco, Red Hat expand relationship, launch solution for OpenStack
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09:10 EDTRHTBarclays' top ideas in U.S. Software for 2H 2014
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September 3, 2014
18:29 EDTPCGPG&E plans to appeal $1.4B fine by CPUC
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12:19 EDTRHTOptions with increasing implied volatility
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11:35 EDTBBRYStocks with call strike movement; BBRY TWTR
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10:52 EDTRHTRed Hat September volatility increases into Q2 and outlook
Red Hat September call option implied volatility is at 47, October is at 32, December is at 29; compared to its 26-week average of 32 according to Track Data, suggesting large near term price movement into the expected release of Q2 results after the market close on September 18.
06:16 EDTPCGPG&E overhang removed with ALJ decision, says Citigroup
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05:13 EDTPCGPG&E announces CPUC ALJ recommends $2B penalty for San Bruno explosion
Pacific Gas and Electric said that a penalty being considered by the California Public Utilities Commission, or CPUC, in connection with the 2010 explosion of a natural gas transmission pipeline in San Bruno should be reasonable and take into account precedent and the investments the company has made to promote safety. The CPUC's administrative law judges, or ALJs, released a recommended penalty resulting from the investigations. While the CPUC characterized the penalty as totaling approximately $2B, PG&E believes that the total shareholder impact could reach approximately $4.75B, including the previous $2.7B in estimated costs that shareholders have incurred or are forecast to incur, to improve and enhance the safety of PG&E's natural gas operations. The ultimate amount of costs will depend on the scope and timing of work and other factors, many of which are described in PG&E Corporation's and PG&E's recent SEC reports. It's likely that the CPUC could take a minimum of 45 days to reach a final decision.
September 2, 2014
15:14 EDTPCGPG&E levied $1.4B safety fine by CPUC
The California Public Utilities Commission issued four decisions by two Administrative Law Judges in connection with its investigations of Pacific Gas and Electric Company’s operations and practices related to gas transmission, including the pipeline rupture in San Bruno, Calif., in 2010, penalizing PG&E $1.4B, which the commission said was the largest safety related penalty ever levied by the CPUC. The penalty consists of $950M to be paid to California’s General Fund, $400M in pipeline improvements that cannot be recovered from customers, called a disallowance, and approximately $50M to be used to implement more than 75 remedies to enhance pipeline safety. The $1.4B penalty, when combined with the amount that the CPUC previously ruled must come from shareholders for expenditures to improve the safe operation of natural gas pipelines, exceeds $2B. WHAT'S NOTABLE: The Fly notes that in a note upgrading PG&E Corporation to Outperform on August 1, Credit Suisse said resolution of the ALJ decision on San Bruno will clear a 4 year regulatory overhang, adding that the firm sees a "potential $2.25B penalty as excessive in any historical context." PRICE ACTION: Shares of PG&E are up 1.1% to $47.01 in afternoon trading.
14:39 EDTPCGCPUC levies $1.4B safety penalty against PG&E, Bloomberg reports
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11:32 EDTBBRYStocks with call strike movement; BBRY TWTR
BlackBerry (BBRY) March 12 call option implied volatility decreased 6% to 48, Twitter (TWTR) December 57.5 call option implied volatility increased 5% to 48 according to IVolatility.
11:09 EDTBBRYBlackBerry announces events in three cities to be held Sep. 24
BlackBerry announced in a post to its corporate blog: "On September 24, all eyes will be on BlackBerry as we host exclusive, invite-only events in Toronto, London and Dubai to show off… well I guess you’ll have to wait and see." Reference Link
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