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Stock Market & Financial Investment News

News Breaks
March 28, 2014
16:28 EDTBBRY, KING, RH, PCG, CLVS, BIIBOn The Fly: Closing Wrap
Stocks on Wall Street were higher, but closed well off their best levels, as the averages traded in a now-familiar pattern of a higher open followed by afternoon weakness. With just one trading day remaining in March, the Dow and S&P 500 are roughly flat for the month, while the Nasdaq has declined more than 3%. 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: BlackBerry (BBRY) reported a fourth quarter loss that was narrower than expected on revenue that missed expectations and fell below $1B for the first time since 2007. The handset maker said it sold 3.4M smartphones during the quarter. BlackBerry also said its cash and equivalents totaled $2.7B at March 1, down from $3.2B at the end of the prior quarter, and the company said it is targeting break-even cash flow by the end of its fiscal 2015. Shares of the company initially traded higher following the report, but closed down 64c, or 7.07%, to $8.41... King Digital (KING) lost another 41c, or 2.22%, to $18.08 to finish its first abbreviated week of trade down more than 14% following the "Candy Crush" maker's Wednesday initial public offering. MAJOR MOVERS: Among the notable gainers was home furnishing retailer Restoration Hardware (RH), up $8.12, or 12.73%, to $71.93 after its first quarter profit view beat estimates. Also higher were shares of Idera Pharmaceuticals (IDRA), up 69c, or 17.78%, to $4.57 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), down $1.75, or 4.01%, to $41.89 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 at Deutsche Bank and Citigroup. Also lower were a number of biotech names, including Clovis Oncology (CLVS), down $9.99, or 12.44%, to $70.33, and Biogen (BIIB), down $15.94, or 5.05%, to $294.12 as the sector continued to see significant weakness, as it often has in recent trade. INDEXES: The Dow was up 58.83, or 0.36%, to 16,323.06; the S&P 500 was up 8.58, or 0.46%, to 1,857.62; the Nasdaq was up 4.53, or 0.11%, to 4,155.76.
News For BBRY;KING;RH;PCG;CLVS;BIIB From The Last 14 Days
Check below for free stories on BBRY;KING;RH;PCG;CLVS;BIIB the last two weeks.
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September 2, 2014
18:26 EDTCLVSOn The Fly: After Hours Movers
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16:25 EDTCLVSClovis to offer $200M of convertible senior notes due 2021 in private placement
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
August 31, 2014
13:41 EDTBIIBCitigroup to hold a conference
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August 29, 2014
08:13 EDTPCGPG&E station in Silicon Valley breached for second time in two years, WSJ says
Despite PG&E's efforts to bulk up security at its electrical substation for Silicon Valley following an armed attack last year, the same substation was targeted earlier this week by intruders who cut fencing and stole equipment being used for security upgrades, reported The Wall Street Journal. Reference Link
August 28, 2014
11:18 EDTRHWilliams-Sonoma plunges as FY14 outlook falls below analysts' expectations
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11:08 EDTBBRYStocks with call strike movement; QIHU BBRY
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August 27, 2014
09:08 EDTBIIBNektar could see $100M in revenue from Baxter drug, says Roth Capital
Roth Capital believes that Baxter's (BAX) BAX-855 drug delivered compelling Phase III data, and the firm expects the drug to compete effectively against Biogen's (BIIB) Eloctate. Roth expects BAX-855 to launch in 1Q16 and believes it could generate up to $100M in annual revenue for Nektar. The firm keeps a $21 price target and Buy rating on Nektar.
08:21 EDTBIIBNICE recommends Tecfidera for multiple sclerosis
Dimethyl fumarate is recommended as a possible treatment for people with active relapsing-remitting multiple sclerosis that isn't highly active or rapidly evolving severe relapsing-remitting multiple sclerosis, the U.K.'s National Institute for Health and Care Excellence stated in guidance posted to its website. Reference Link
August 26, 2014
11:21 EDTBIIBBiogen added to short term buy list at Deutsche Bank
August 25, 2014
07:44 EDTBBRYMobileIron could benefit from BlackBerry replacements, says Deutsche Bank
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August 24, 2014
14:36 EDTBBRYBlackBerry wins another court victory against Typo Products, WSJ says
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August 22, 2014
12:39 EDTBIIBThese five companies will benefit from increased ALS awareness, MarketWatch says
A recent surge in funding for Lou Gehrig's disease, or ALS, caused by the Ice Bucket challenge that is widespread on social media outlets, will benefit five pharmaceutical companies that are involved in the development of a cure for ALS, according to MarketWatch. The companies that are or have been involved in developing a treatment for ALS include Biogen Idec (BIIB), Avanir Pharmaceuticals (AVNR), Isis Pharmaceuticals (ISIS), Sanofi (SNY), and Bristol-Myers Squibb (BMY), MarketWatch added. Reference Link
10:01 EDTPCGOn The Fly: Analyst Downgrade Summary
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07:27 EDTPCGPG&E downgraded to Hold from Buy at Argus
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05:23 EDTKINGKing Digital launches Candy Crush Saga in China
King Digital announced that a localized version of the world's sweetest game, Candy Crush Saga, is now available for players in China. The Chinese version of the game is now integrated with Tencent's Mobile QQ and Weixin social network, and available in Tencent's App Center and Apple's App Store in China.
August 20, 2014
11:50 EDTBBRYStocks with call strike movement; PBR BBRY
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