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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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January 23, 2015
09:34 EDTBBRYBlackBerry up 1.5% in early trading as Reuters correct prior story
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05:51 EDTBBRYStocks with implied volatility movement; BBRY UPL
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January 22, 2015
15:04 EDTBBRYSamsung still weighing BlackBerry deal, Financial Post says
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14:56 EDTBBRYBlackBerry off highs after Evercore said to deny prepping Samsung report
Shares of BlackBerry (BBRY) remain up 8% near $10.74 in afternoon trading, but are off their earlier session high of $11.11, after BNN's Amber Kanwar reported that Evercore (EVR) tells BNN that Samsung (SSNLF) has not been a recent client of theirs and that they prepare ideas "routinely" on their "own accord." The BNN report follows an earlier story from Canada's Financial Post that claimed that Evercore Partners produced a 40 page analysis of the advantages and disadvantages to Samsung of acquiring all or part of BlackBerry on behalf of the Korean smartphone maker.
14:52 EDTBBRYEvercore says Samsung not a recent client, BBN reports
Evercore (EVR) tells BNN that Samsung (SSNLF) has not been a recent client of theirs and that they prepare ideas "routinely" on their "own accord," said BNN's Amber Kanwar on Twitter. Reference Link
12:28 EDTBBRYOn The Fly: Midday Wrap
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10:42 EDTBBRYBlackBerry jumps after report says Samsung analyzed takeover
An investment bank hired by Samsung prepared a detailed analysis of a potential acquisition of all or part of BlackBerry (BBRY) by the South Korean company, The Financial Post reported. WHAT'S NEW: In the fourth quarter of last year, Evercore Partners produced a 40 page analysis of the advantages and disadvantages to Samsung of acquiring all or part of BlackBerry, according to The Financial Post. The document also laid out various strategies that Samsung could use to make such a deal, and obstacles that could prevent the deal from occurring, the newspaper stated. Acquiring a minority stake would have many advantages for Samsung, the newspaper quotes the document as saying. However, it questions whether Samsung could achieve its key objectives if it only holds a minority stake in BlackBerry. The Canadian company's software appears to be complementary to that of Samsung, but further analysis must be conducted on that issue, Evercore stated, according to The Financial Post. The document suggested that Evercore could ask Fairfax Financial (FRFHF), a major BlackBerry shareholder, to help facilitate a deal. WHAT'S NOTABLE: After attending meetings with BlackBerry CFO James Yersh, Wells Fargo estimated that BlackBerry's QNX subsidiary, which develops software for automobiles, is already generating about 40% of the $500M of total annual software revenue that BlackBerry has targeted. Many analysts have questioned whether BlackBerry could meet this target. The firm also stated that BlackBerry will unveil "an iconic device" in early March. However, Yersh acknowledged that Q4 would be a transition quarter, while many investors remain cautious about BlackBerry, Wells stated. The firm has a neutral rating on the shares. PRICE ACTION: In mid-morning trading, BlackBerry surged 8.5% to $10.80.
08:28 EDTBBRYBank document shows Samsung still pursuing BlackBerry, Financial Post says
Samsung (SSNLF) continues to pursue acquisition of BlackBerry (BBRY), reports the Financial Post, citing an investment bank document and a source with knowledge of the plan. Prepared by Evercore Partners in 4Q14, the document hints at only a partial takeover, notes that Lenovo (LNVGY) may compete with Samsung for the company, cites BlackBerry's operating system and Messenger as potential divestitures, adds that Samsung could offset $50M in taxable income, and suggests Samsung start by approaching Fairfax Financial about acquiring a minority stake. Reference Link
05:56 EDTBBRYStocks with implied volatility below IV index mean; BBRY ARNA
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January 21, 2015
10:39 EDTBBRYBlackBerry off lows as Chinese language report on suitors circulates
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07:50 EDTDECKDeckers Outdoor weakness a buying opportunity, says Canaccord
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06:13 EDTDECKDeckers Outdoor recent pullback overdone, says Citigroup
Citigroup views the 18% pullback in shares of Deckers Outdoor since mid-December as overdone. Citi continues to believe UGG is better positioned versus fashion footwear peers. It lowered its price target for shares to $95 from $105 to reflect reduced multiples in the space as well as currency headwinds. Citi keeps a Buy rating on Deckers.
05:58 EDTBBRYStocks with implied volatility below IV index mean; BBRY ARNA
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05:05 EDTDECKDeckers Outdoor appoints David Lafitte as COO
Deckers Brands announced the appointment of David Lafitte to COO, effective February 2. Lafitte previously served as the company's general counsel. He replaces Zohar Ziv, who retired from the company on January 16.
January 20, 2015
11:23 EDTDECKFollow-up: Deckers Outdoor downgraded at Buckingham
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11:16 EDTDECKDeckers Outdoor downgraded to Neutral from Buy at Buckingham
10:47 EDTDECKDeckers Outdoor down 5.3% to $81.88
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10:20 EDTRPRXOptions with decreasing implied volatility
Options with decreasing implied volatility: RPRX TLM BBY GME CBST NPSP
06:08 EDTBBRYStocks with implied volatility below IV index mean; BBRY ARNA
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January 19, 2015
07:45 EDTBBRYSamsung wants BlackBerry partnership, not takeover, WSJ reports
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