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Stock Market & Financial Investment News

News Breaks
June 19, 2014
12:32 EDTPIR, COH, TEL, KR, BBRY, MEAS, RHTOn 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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December 11, 2014
14:01 EDTKRKroger announces David Dillon to retire as Chairman of the Board on December 31
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13:19 EDTBBRYMicrosoft dropped by Ford for in-car sync system, Re/code reports
Ford's (F) Sync 3 in-car entertainment and mapping system will use a version of BlackBerry's (BBRY) QNX operating system, replacing Microsoft (MSFT) technology that had been used in the prior two versions, Re/code reports. The QNX-powered system adds more features, including a capacitive touch screen and the ability to get software updates over Wi-Fi. Ford said in a statement that its "hardware and software decisions were based on identifying the technology that would best meet the expectations for performance by our customers." Reference Link
12:34 EDTPIRRestoration Hardware hits 52-week high after beating Q3 estimates
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10:33 EDTCOHCoach calls active after website says LVMH showing interest
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10:13 EDTCOHCoach spikes after website says LVMH showing interest
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09:59 EDTBBRYBlackBerry December volatility increases into Q3 and outlook
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09:53 EDTCOHLVMH has shown interest in Coach, Prime Retailer reports
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09:49 EDTCOHLVMH has shown interest in Coach, PrimeRetailer says
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December 10, 2014
10:20 EDTKROptions with decreasing implied volatility
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10:00 EDTKROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3D Systems (DDD) initiated with an Underperform at Longbow... AutoZone (AZO) initiated with a Buy at Nomura... C.H. Robinson (CHRW) initiated with a Neutral at Nomura... CSX (CSX) initiated with a Buy at Nomura... CVS Health (CVS) initiated with a Neutral at Citigroup... Canadian National (CNI) initiated with a Neutral at Nomura... Carrizo Oil & Gas (CRZO) initiated with a Buy at Canaccord... CenterPoint Energy (CNP) initiated with a Neutral at Nomura... Con-way (CNW) initiated with a Neutral at Nomura... Cornerstone OnDemand (CSOD) initiated with a Buy at BofA/Merrill... Depomed (DEPO) initiated with an Outperform at RBC Capital... Dollar General (DG) initiated with a Buy at Citigroup... Dollar Tree (DLTR) initiated with a Neutral at Citigroup... Dynagas LNG (DLNG) initiated with a Buy at ABN Amro... EMC (EMC) initiated with a Neutral at JPMorgan... Energy Focus (EFOI) initiated with a Buy at Roth Capital... Expeditors (EXPD) initiated with a Neutral at Nomura... GasLog (GLOG) initiated with a Buy at ABN Amro... Genesee & Wyoming (GWR) initiated with a Neutral at Nomura... Golar LNG (GLNG) initiated with a Sell at ABN Amro... HII Technologies (HIIT) initiated with a Buy at Roth Capital... Hudbay Minerals (HBM) initiated with an Overweight at Barclays... J.B. Hunt (JBHT) initiated with a Buy at Nomura... Kansas City Southern (KSU) initiated with a Buy at Nomura... Kroger (KR) initiated with a Buy at Citigroup... Lear (LEA) initiated with a Buy at Northcoast... Lundin Mining (LUNMF) initiated with an Overweight at Barclays... NetApp (NTAP) initiated with a Neutral at JPMorgan... Norfolk Southern (NSC) initiated with a Neutral at Nomura... PROS (PRO) initiated with an Outperform at Pacific Crest... Qlik Technologies (QLIK)initiated with a Buy at BofA/Merrill... Rentokil (RTOKY) initiated with a Neutral at UBS... Revolution Lighting (RVLT) initiated with a Buy at Roth Capital... ServiceNow (NOW) initiated with a Buy at BofA/Merrill... Stratasys (SSYS) initiated with a Neutral at Longbow... Suburban Propane (SPH) initiated with a Hold at Stifel... Tableau (DATA) initiated with a Buy at BofA/Merrill... Teekay LNG (TGP) initiated with a Buy at ABN Amro... Tessera (TSRA) initiated with a Buy at Sidoti... Union Pacific (UNP) initiated with a Buy at Nomura... Viper Energy (VNOM) initiated with a Buy at Stifel... Visteon (VC) initiated with a Buy at Northcoast... Walgreen (WAG) initiated with a Buy at Citigroup... Werner (WERN) initiated with a Neutral at Nomura.
08:18 EDTKRDeutsche Bank to hold a conference
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06:17 EDTKRKroger initiated with a Buy at Citigroup
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December 9, 2014
10:23 EDTCOHOn The Fly: Analyst Initiation Summary
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08:50 EDTBBRYBlackBerry CEO says China entry won't be rushed, won't include takeover
BlackBerry (BBRY) Executive Chairman and CEO John Chen, in a post to his LinkedIn account entitled "Don't Believe The Hype," stated that he has recently I’ve been advised to capitalize on Kim Kardashian’s pronouncements that BlackBerry phones are her “heart and soul,” or talk up plans to enter the China market, "however preliminary they are today." Chen said BlackBerry's focus right now is on extending its security foundation with new solutions for the enterprise and that it "cannot and will not" chase sensationalism. "As for China, rest assured that we are developing a well-thought out plan that will take into account many factors, including timing and our long-term strategy. It won’t be rushed because it’s exciting or turned away from because of security concerns. And it won’t include a takeover," Chen wrote in his post. Reference Link
07:05 EDTCOHCoach initiated with an Equal Weight at Stephens
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December 8, 2014
10:00 EDTRHTOn The Fly: Analyst Downgrade Summary
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08:14 EDTRHTRed Hat downgraded at Wells Fargo
As noted earlier, Wells Fargo downgraded Red Hat to Market Perform from Outperform. The firm downgraded the stock based on valuation. Target $64-$68.
05:54 EDTRHTRed Hat downgraded to Market Perform from Outperform at Wells Fargo
December 5, 2014
10:18 EDTBBRYBlackBerry calls active on renewed takeover chatter
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09:44 EDTBBRYRumor: BlackBerry moves up on renewed takeover chatter
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