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Stock Market & Financial Investment News

News Breaks
March 28, 2014
16:28 EDTCLVS, KING, PCG, BBRY, BIIB, RHOn 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
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December 11, 2014
13:03 EDTRHOn The Fly: Midday Wrap
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12:34 EDTRHRestoration Hardware hits 52-week high after beating Q3 estimates
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10:24 EDTRHOptions with decreasing implied volatility
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10:21 EDTRHHigh option volume stocks
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09:59 EDTBBRYBlackBerry December volatility increases into Q3 and outlook
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08:39 EDTRHRestoration Hardware price target raised to $115 from $90 at RW Baird
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08:09 EDTPCGDetroit Economic Club to host a luncheon meeting
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07:11 EDTRHRestoration Hardware strategy appears to be working, says Wells Fargo
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06:48 EDTRHRestoration Hardware price target raised to $100 from $90 at Deutsche Bank
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December 10, 2014
18:31 EDTRHOn The Fly: After Hours Movers
UP AFTER EARNINGS: Restoration Hardware (RH), up 5.9%... Casey's General Stores (CASY), up 1.6%. ALSO HIGHER: Walgreen (WAG), up 1.7% after CEO Greg Wasson announces intention to retire after Alliance merger. DOWN AFTER EARNINGS: Wet Seal (WTSL), down 38.9%... Lakeland Industries (LAKE), down 8.2%... Men's Wearhouse (MW), down fractionally. ALSO LOWER: Burlington Stores (BURL), down 1.4% after filing to sell 8M shares of common stock for holders... Nielsen (NLSN), down 1.9% after filing to sell 20M shares of common stock for holders.
16:26 EDTRHRestoration Hardware up over 5% after Q3 results, guidance
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16:15 EDTRHRestoration Hardware sees FY14 CapEx $115M-$125M
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16:14 EDTRHRestoration Hardware raises FY14 adjusted EPS view to $2.33-$2.35
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16:12 EDTRHRestoration Hardware sees Q4 adjusted EPS 99c-$1.01, consensus $1.00
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16:11 EDTRHRestoration Hardware raises FY14 adjusted EPS view to $2.33-$2.35
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16:08 EDTRHRestoration Hardware reports Q3 adjusted EPS 49c, consensus 48c
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15:25 EDTRHNotable companies reporting after market close
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December 9, 2014
14:43 EDTRHRestoration Hardware volatility elevated into Q3 and outlook
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12:22 EDTBIIBPiper Jaffray biopharm analyst holds an analyst/industry conference call
Senior Research Analyst Schimmer, along with Biopharmaceuticals Analyst Breazzano, discuss gene therapy for hemophilia on an Analyst/Industry conference call to be held on December 11 at 10 am.
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
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