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Stock Market & Financial Investment News

News Breaks
March 28, 2013
12:17 EDTPVH, RPRX, UTIW, DECK, FIVE, BBRYOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday and if the S&P's level holds into the close, the index will set a new all-time closing record. Equity markets being closed for a holiday tomorrow makes this the last trading day of the quarter, and buyers have emerged to position their portfolios accordingly... ECONOMIC EVENTS: In the U.S., initial jobless claims increased 16K from the prior week to a seasonally adjusted 357K, versus expectations for 340K claims. The Commerce Department upwardly revised its estimate for gross domestic product expansion in the fourth quarter to 0.4% growth from its prior estimate of a 0.1% growth rate. However, this was a bit below the 0.5% gain forecast by analysts. The Chicago PMI Business Barometer Index came in at 52.4, missing the expected reading of 56.5... COMPANY NEWS: Blackberry (BBRY) posted an adjusted profit for its most recent quarter, when a loss was expected, and said it shipped 6M smartphones, including approximately 1M BlackBerry 10 units. The company also reported a gross margin of 40% in the quarter and said its cash position grew to $2.9B. Shares of the mobile device maker gained 2% near noon following the report and associated conference call... MAJOR MOVERS: Among the notable gainers were shares of Repros Therapeutics (RPRX), which rose 71% after the company announced its Androxal drug for the treatment of secondary hypogonadism reached its primary endpoints in a study. Also higher was Deckers Outdoor (DECK), which advanced over 7% after a Jefferies analyst increased his price target on the shares to $100 from $65. Among the noteworthy losers following their earnings reports were Five Below (FIVE), UTi Worldwide (UTIW) and PVH Corp. (PVH), which all fell around 4%... INDICES: Near noon, the Dow was up 43.25, or 0.30%, to 14,569.41; the Nasdaq was up 2.90, or 0.09%, to 3,259.42; and the S&P 500 was up 3.64, or 0.23%, to 1,566.49.
News For BBRY;DECK;RPRX;FIVE;UTIW;PVH From The Last 14 Days
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November 26, 2014
11:35 EDTDECKDeckers Outdoor management to meet with Jefferies
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November 25, 2014
11:32 EDTBBRYStocks with call strike movement; BBRY TWTR
BlackBerry (BBRY) March 13 call option implied volatility increased 2% to 53, Twitter (TWTR) March 45 call option implied volatility increased 3% to 45 according to IVolatility.
10:30 EDTBBRYBlackBerry mentioned cautiously at Rosenblatt
Rosenblatt Securities said BlackBerry's partner Hon Hai's production center, slated for BlackBerry production, continues to sit idle.
10:10 EDTDECKJanney to hold a field trip
Janney Montgomery Holiday Mall Tour is being held at Tysons Corner, Virginia on November 25.
09:07 EDTBBRYBlackBerry offering rebates on Passport smartphone
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09:03 EDTBBRYBlackBerry announces new BBM partners
BlackBerry disclosed today on its blog that it had entered into several new partnerships to expand its ad sales network and bring region-specific advertising sales expertise to BlackBerry Messenger, or BBM. Specifically, the company .said that it had chosen four new regional partners. Blyk will represent BBM globally, with dedicated sales representatives in Chicago, Dubai, London, Singapore, and Toronto, the company stated. Habari Media will represent BBM with dedicated sales representatives in South Africa, Nigeria, and Ghana, it added. Blackberry added that businesses have several ways to connect with consumers via BBM, including sponsored posts, sponsored invites, and featured placements. Reference Link
November 19, 2014
15:53 EDTBBRYSome make case for Yahoo considering BlackBerry acquistion, Re/code says
Sources close to Yahoo (YHOO) said the company has been considering several "big acquisitions," largely aimed at helping its display business, and is eyeing tech-related companies including MediaMath, RadiumOne and Turn, reported Re/code's Kara Swisher. Swisher added that "one of the most far-out" ideas that has been "floated by bankers and other sundry pundits" is that Yahoo should buy BlackBerry (BBRY), and Swisher said that while that may seem unlikely, such a purchase would be "well within the amount" that Yahoo CEO Marissa Mayer has to spend. Reference Link
15:05 EDTBBRYBlackBerry CEO's forecasting skills under scrutiny, WSJ says
After Morgan Stanley suggested that BlackBerry may miss its revenue target for software sales, the forecasting skills of BlackBerry CEO John Chen may come under scrutiny, says the Wall Street Journal. According to the report, Chen, known as a turnaround expert, has said the smartphone maker will double its software sales to $500M in its next fiscal year. The Morgan Stanley analyst who wrote the report, James Faucette, said in the note, “We are skeptical that BlackBerry will be able to achieve that level of success, particularly with a new product platform, new pricing and with a still very damaged brand,” added the Wall Street Journal. Reference Link
12:18 EDTBBRYBlackBerry sinks after Morgan Stanley cuts to Underweight
Shares of BlackBerry (BBRY) are sinking after Morgan Stanley downgraded the stock to Underweight, saying that the market had become too optimistic about the outlook for the company's software and messaging platform. WHAT'S NEW: BlackBerry's valuation indicates that the market expects the company's software revenue and messaging revenue to increase by $250M and $100M, respectively, in fiscal 2016, Morgan Stanley analyst James Faucette wrote in a note to investors before the market opened today. These expectations are consistent with the targets set by the device maker's CEO, John Chen, Faucette stated. But the outlook "seems excessive," as they imply that BlackBerry will retain all of its enterprise subscribers, and convince them to pay the company three times more money than now, the analyst stated. BlackBerry will not "gain relevancy in the enterprise mobile management software market and will continue to lose enterprise subscribers," Faucette believes. He downgraded the stock to Underweight from Equal Weight and set a $7 price target on the shares. WHAT'S NOTABLE: In September, BlackBerry reported that it had issued 3.4M licenses for its BES10 mobile device management system during its September quarter representing a nearly threefold increase over the previous quarter. The company stated that BlackBerry Messenger had 91M users, up from 85M users the previous quarter. In a note to investors on November 14, JPMorgan raised its price target on the stock to $13 from $10. The company's product announcements on November 13 increased the chances that its software strategy will work, according to the firm. JPMorgan added, however, that BlackBerry still had a long road back to health, and kept a Neutral rating on the shares. PRICE ACTION: In late morning trading, BlackBerry slid 5% to $10.20.
10:00 EDTBBRYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Beacon Roofing (BECN) downgraded to Hold from Buy at KeyBanc... BlackBerry (BBRY) downgraded to Underweight from Equal Weight at Morgan Stanley... Consolidated Edison (ED) downgraded to Sell from Neutral at UBS... Denbury Resources (DNR) downgraded to Hold from Buy at Wunderlich... Synchronoss (SNCR) downgraded to Underperform from Neutral at RW Baird... Total System (TSS) downgraded to Sell from Neutral at Goldman... Movado (MOV) downgraded to Market Perform from Outperform at Barrington... Transocean Partners (RIGP) downgraded to Market Perform from Outperform at Wells Fargo... Seadrill Partners (SDLP) downgraded to Market Perform from Outperform at Wells Fargo... Petrobras (PBR) downgraded to Neutral from Buy at UBS.
09:16 EDTBBRYOn The Fly: Pre-market Movers
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07:57 EDTBBRYBlackBerry downgraded at Morgan Stanley
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06:13 EDTBBRYBlackBerry downgraded to Underweight from Equal Weight at Morgan Stanley
November 18, 2014
12:46 EDTRPRXRepros Therapeutics volatility at low end of six-month range
Repros Therapeutics overall option implied volatility of 102 compares to its 26-week average of 111 according to Track Data, suggesting decreasing price movement.
November 14, 2014
16:26 EDTBBRYNasdaq clear leader as major averages end week higher
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07:20 EDTBBRYBlackBerry price target raised to $13 from $10 at JPMorgan
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07:19 EDTBBRYBlackBerry new partnerships positive, but still early days, says RBC Capital
RBC Capital believes that BlackBerry has recruited good partners and distributors, but the firm thinks it's still unclear whether BES 12 can gain share from other Enterprise Mobility Management systems. RBC Capital keeps a $12 price target and Sector Perform rating on BlackBerry.

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