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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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March 19, 2015
07:12 EDTBIIBBiogen price target raised to $500 from $400 at Credit Suisse
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05:57 EDTBBRYStocks with implied volatility above IV index mean; BBRY NFLX
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05:50 EDTBBRYMicrosoft, BlackBerry raises cooperation for software products, DigiTimes says
Microsoft and Blackberry have been increasing their cooperation with other companies to promote sales of software platforms and related services, reports DigiTimes. According to industry sources, the new eefforts come after their global smartphone market edge dropped 2.8% and 0.6%, respectively. Reference Link
March 18, 2015
17:28 EDTPCGPG&E embraces new NTSB safety recommendations for natural gas industry
PG&E is embracing the National Transportation Safety Board’s new safety recommendations for the gas pipeline industry. These recommendations were a result of a recent safety study on integrity management of gas transmission pipelines in urban areas completed by the NTSB. PG&E has already completed or is in the process of implementing many of these new safety recommendations. Additionally PG&E has closed nine out of 12 safety recommendations in response to the 2010 pipeline accident in San Bruno. Of the three remaining safety recommendations, the NTSB considers PG&E's progress "open-acceptable response," which means acceptable progress, pending completion.
12:48 EDTBIIBFly Watch: Biogen predicted to report strong Alzheimer's data this Friday
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07:34 EDTBIIBBiogen should report strong Alzheimer's data, says RBC Capital
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06:01 EDTBBRYStocks with implied volatility above IV index mean; BBRY NFLX
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March 17, 2015
10:45 EDTBBRYStocks with call strike movement; X BBRY
U.S. Steel (X) March 24 call option implied volatility increased 8% to 52, BlackBerry (BBRY) September 11 call option implied volatility decreased 2% to 50 according to IVolatility.
10:00 EDTPCGOn The Fly: Analyst Downgrade Summary
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09:27 EDTBBRYApple plans to allow trade-ins of Android, BlackBerry devices, Bloomberg says
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07:00 EDTPCGPG&E downgraded to Equal Weight from Overweight at Morgan Stanley
05:58 EDTBBRYStocks with implied volatility above IV index mean;
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March 16, 2015
15:26 EDTPCGSpark Energy acquires customer accounts in PG&E Market
Spark Energy (SPKE) announces that it has entered into a purchase and sale agreement with Entrust Energy for the purchase of approximately 33,500 customer contracts in the Pacific Gas and Electric (PCG) natural gas market in Northern California. The purchase price is $2.83M, or approximately $85 per customer. Closing of the transaction is expected in the first two weeks of April.
11:20 EDTBBRYStocks with call strike movement; MNKD BBRY
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10:50 EDTKINGKing Digital seen benefiting from user base larger than Twitter, LinkedIn
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10:02 EDTKINGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmerisourceBergen (ABC) upgraded to Buy from Neutral at UBS... Avago (AVGO) upgraded to Buy from Neutral at DA Davidson... Francesca's (FRAN) upgraded to Buy at Janney Capital... Goldcorp (GG) upgraded to Overweight from Neutral at HSBC... Jabil Circuit (JBL) upgraded to Buy from Hold at Cross Research... JetBlue (JBLU) upgraded to Outperform at Raymond James... King Digital (KING) upgraded to Overweight from Neutral at JPMorgan... L.B. Foster (FSTR) upgraded to Outperform from Neutral at Macquarie... NextEra Energy (NEE) upgraded to Buy from Hold at Deutsche Bank... Petrobras Argentina (PZE) upgraded to Buy from Neutral at BofA/Merrill... Qorvo (QRVO) upgraded to Buy from Neutral at DA Davidson... Randgold (GOLD) upgraded to Overweight from Neutral at HSBC... Royal Gold (RGLD) upgraded to Overweight from Neutral at HSBC... Seagate (STX) upgraded at Needham... Standex (SXI) upgraded to Buy from Hold at BB&T... Union Pacific (UNP) upgraded to Outperform from Neutral at Macquarie... West Corp. (WSTC) upgraded to Outperform from Neutral at RW Baird... Xilinx (XLNX) upgraded to Buy from Hold at Drexel Hamilton... YPF (YPF) upgraded to Buy from Neutral at BofA/Merrill.
09:22 EDTKINGOn The Fly: Pre-market Movers
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06:25 EDTKINGKing Digital upgraded to Overweight from Neutral at JPMorgan
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06:07 EDTBBRYStocks with implied volatility above IV index mean; BBRY CZR
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March 15, 2015
16:14 EDTBBRYBlackBerry collaborates with IBM, Samsung on SecuTABLET
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