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Stock Market & Financial Investment News

News Breaks
June 19, 2014
12:32 EDTTEL, KR, BBRY, MEAS, RHT, PIR, COHOn The Fly: Midday Wrap
Stocks on Wall Street were slightly lower at midday after drifting in a narrow range throughout the morning. The S&P 500 did manage to hit a new all-time high again early in the session following a mixed bag of domestic economic data, but the major averages had all moved back into negative ground, but only narrowly, near noon. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 6K to 312K last week, which was nearly in-line with expectations. The Philly Fed manufacturing index rose 2.4 points to 17.8 in June, which was better than expected. The leading economic indicator index for May rose 0.5%, which was slightly below the consensus forecast for it to have grown 0.6%. COMPANY NEWS: Shares of BlackBerry (BBRY) climbed more than 11% after the company reported stronger than expected first quarter results and said that it had recognized revenue on more handsets in Q1 than in the previous quarter. BlackBerry reported a loss per share, excluding certain items, of (11c), versus analysts' consensus estimate of a (26c) per share loss and the company's revenue came in slightly higher than expected. Moreover, it said that it was close to reaching the breakeven point on hardware sales and added that it expects its subscriber numbers to be steady going forward. BlackBerry should be profitable sometime in fiscal 2016, the company's CEO, John Chen, stated. MAJOR MOVERS: Among the notable gainers was Measurement Specialties (MEAS), which advanced 10.5% after announcing last night that it has agreed to be acquired by TE Connectivity (TEL) for $86 cash per share, or a total transaction value of approximately $1.7B including the assumption of debt. Shares of TE Connectivity trading in New York were also up 1% following the news. Also higher following their earnings reports were supermarket operator Kroger (KR), which rose nearly 6%, and open source software provider Red Hat (RHT), which gained about 3%. Among the noteworthy losers was luxury handbag maker Coach (COH), which dropped more than 9% after stating at its investor day meeting that it expects to sees revenue decline by a "low double digit" percentage in FY15. Also lower was home furnishings retailer Pier 1 Imports (PIR), which dropped 13% and hit a fresh 52-week low after the company's first quarter results missed analysts' consensus estimates and it cut its fiscal 2015 earnings per share outlook. INDEXES: Near midday, the Dow was down 23.15, or 0.14%, to 16,883.47, the Nasdaq was down 7.99, or 0.18%, to 4,354.84, and the S&P 500 was down 1.12, or 0.06%, to 1,955.86.
News For BBRY;COH;RHT;KR;PIR;MEAS;TEL From The Last 14 Days
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April 21, 2015
08:49 EDTCOHCoach North American sales remain ahead of consensus, says ITG Research
08:40 EDTCOHCoach competition could impact a margin recovery, says Goldman
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06:16 EDTBBRYBlackBerry could acquire WatchDox for $150M-$200M, Globes reports
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April 20, 2015
16:26 EDTCOHCoach initiated with a Sell, $32 target at Cantor
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April 19, 2015
12:41 EDTKRKroger, Dollar General, others can be bought and held for 3 years, Barron's says
Shares of PACCAR (PCAR), Lam Research (LRCX), Kroger (KR), Autoliv (ALV), Archer Daniels (ADM), and Dollar General (DG) should be bought and held for the next three years due to high return on invested capital, Barron's contends in a feature article. Reference Link
April 17, 2015
09:05 EDTPIRPier 1 Imports management to meet with Oppenheimer
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07:11 EDTBBRYBlackBerry management to meet with UBS
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April 16, 2015
10:15 EDTCOHCoach May volatility elevated into Q3 and outlook
Coach May weekly call option implied volatility is at 44, May is at 33, August is at 28, November is at 26; compared to its 26-week average of 27 according to Track Data, suggesting large near term price movement into the expected release of Q3 results.
10:06 EDTCOHCoach trades higher, levels to watch
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10:00 EDTCOHOn The Fly: Analyst Upgrade Summary
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05:55 EDTCOHCoach upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Joan Payson upgraded Coach to Overweight citing greater confidence in the designer's ability to grow domestic store comps with its turnaround "well underway." She expects Coach's competitive pressures to ease and raised her price target for shares to $50 from $38. The maker of handbags closed yesterday down 28c to $41.76. Payson also lowered her price target for shares of Michael Kors (KORS) to $60 from $70 and keeps an Equal Weight rating on the name. She believes Kors may soon be in need of transformation. The analyst keeps an Equal Weight rating on Tiffany (TIF), calling the company a "work in progress."
April 15, 2015
10:19 EDTPIROptions with decreasing implied volatility
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06:11 EDTBBRYBlackBerry implied volatility of 43 at lower end of index mean range
April 14, 2015
17:02 EDTCOHCrocs appoints Coach International Group president Ian Bickley to board
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10:43 EDTTELCommScope granted early termination of HSR waiting period for acquisition
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10:34 EDTPIROptions with decreasing implied volatility
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06:28 EDTBBRYBlackBerry implied volatility of 43 at lower end of index mean range
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April 13, 2015
14:31 EDTKRKroger ratifies agreement with UFCW 227
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10:33 EDTPIROptions with decreasing implied volatility
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06:02 EDTBBRYBlackBerry implied volatility of 42 at lower end of index mean range
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