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Stock Market & Financial Investment News

News Breaks
June 19, 2014
16:36 EDTTRGP, BBRY, NGLS, CMGE, ETE, PIROn The Fly: Closing Wrap
Stocks on Wall Street finished the day mixed after moving in a narrow range for the entire session. There were several passes back and forth across the flat line throughout the day as the market consolidated its gains from yesterday. Investors seemed content to sit on the sidelines ahead of what could be a volatile session tomorrow in what is called "quadruple witching," when various stock index futures, stock index options, stock options, and single stock futures expire. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 6K to 312K last week, which was nearly in-line with expectations. The Philly Fed manufacturing index rose 2.4 points to 17.8 in June, which was better than expected. The leading economic indicator index for May rose 0.5%, which was slightly below the consensus forecast for it to have grown 0.6%. COMPANY NEWS: Shares of BlackBerry (BBRY) climbed 80c, or 9.65%, to $9.09 after the company reported losses that weren't as steep as expected for the first quarter and said that it had recognized revenue on more handsets in Q1 than in the previous quarter. Moreover, it said that it was close to reaching the breakeven point on hardware sales and that it expects to be profitable "sometime in fiscal 2016." MAJOR MOVERS: Among the notable gainers was Targa Resources (TRGP), which surged $25.57, or 20.45%, to $150.62, and its operating unit Targa Resources Partners (NGLS), which gained $12.29, or 17.74%, to $81.55, after Bloomberg reported late in the day that both could potentially be acquired shortly by Energy Transfer Equity (ETE). Energy Transfer Equity closed the session down fractionally but was up more than 5% in after-hours trading following Bloomberg's report. Among the noteworthy losers was home furnishings retailer Pier 1 Imports (PIR), which dropped $2.40, or 13.14%, to $15.86 after the company's first quarter results missed analysts' consensus estimates and it cut its fiscal 2015 earnings per share outlook. Also lower were shares of China Mobile Games (CMGE), which fell $4.25, or 22.47%, to $14.65 before eventually being halted by Nasdaq after the company reportedly removed a total of nine executives, according to a Chinese-language report quoted by Bloomberg. INDEXES: The Dow was up 14.84, or 0.09%, to 16,921.46, the Nasdaq was up 3.51, or 0.08%, to 4,359.33, and the S&P 500 was up 2.50, or 0.13%, to 1,959.48.
News For BBRY;PIR;CMGE;TRGP;ETE;NGLS From The Last 14 Days
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May 18, 2015
16:26 EDTETEEnergy Transfer Equity initiated with a Buy at Deutsche Bank
Target $95.
15:29 EDTNGLSOptions with increasing volume
Options with increasing volume: ACHN PAGP CBG NI NGLS LEA OKS GTI WETF URBN
10:01 EDTNGLSOn The Fly: Analyst Downgrade Summary
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08:34 EDTCMGEChina Mobile Games receives non-binding proposal to be acquired for $21.50/ADS
China Mobile Games announced that its board has received a preliminary non-binding proposal from Orient Hongtai Investment Management, a subsidiary of Orient Securities Company, to acquire all of the outstanding shares of the company, including ordinary shares represented by American depositary shares, for $1.54 in cash per Class A or Class B ordinary share, or $21.50 in cash per ADS. A copy of the proposal letter is attached hereto as Exhibit A. Orient Investment has separately indicated to the Company that it has secured committed equity financing from certain of its affiliates and co-investors in an aggregate amount of RMB 5B. The proposal letter did not state any information pertaining to Orient Hongtai's or Orient Investment's current ownership of the company's ordinary shares or ADSs. The company is not aware through public filings or other documents that Orient Hongtai or Orient Investment may beneficially own 5% or more of the company's ordinary shares. In addition, no members of the Board are affiliates of Orient Hongtai or Orient Investment.
08:32 EDTCMGEChina Mobile Games receives non-binding proposal to be acquired for $21.50/ADS
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07:04 EDTNGLSTarga Resources Partners downgraded to Sell from Buy at Goldman
Goldman downgraded Targa Resources two notches to Sell from Buy and reduced its price target to $42 to reflect lower commodity price forecasts and decelerating distribution growth.
07:03 EDTTRGPTarga Resources downgraded to Neutral from Buy at Goldman
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05:50 EDTBBRYStocks with implied volatility movement; BBRY MNKD
Stocks with implied volatility movement; BlackBerry (BBRY) 55, MannKind (MNKD) 75 according to iVolatility.
May 15, 2015
15:26 EDTBBRYBlackBerry calls active amid rumor of Microsoft investigation of potential bid
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15:00 EDTBBRYBlackBerry rises amid rumor of Microsoft investigation of potential bid
Shares of BlackBerry (BBRY) are higher in afternoon trading after Ben Harrington's Betaville blog said Microsoft (MSFT) is said to have requested Deutsche Bank (DB) and Goldman Sachs (GS) examine whether the company should acquire the mobile device maker. His source said Microsoft has not yet approached Blackberry and is still in the "very early stages" of looking into making a potential deal, Harrington added. BlackBerry is up 1.7% to $10.50 following the blog post. Reference Link
14:54 EDTBBRYMicrosoft said to examine potential for BlackBerry bid, Betaville says
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11:08 EDTTRGP, NGLSOmega Advisors gives quarterly update on stakes
NEW STAKES: Targa Resources (TRGP), Targa Resources Partners (NGLS), Humana (HUM), Dow Chemical (DOW), and Twenty-First Century Fox (FOXA). INCREASED STAKES: Kinder Morgan (KMI), Chimera Investment Corporation (CIM), AerCap Holdings (AER), Shire (SHPG), and KKR & Co. (KKR). DECREASED STAKES: eBay (EBAY), Altisource Portfolio Solutions (ASPS), Caesars Entertainment (CZR), Navient (NAVI), and TerraForm Power (TERP). LIQUIDATED STAKES: HCA Holdings (HCA), Gilead (GILD), Cabot Oil & Gas (COG), and Apple (AAPL).
10:55 EDTETEJANA Partners gives quarterly update on stakes
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10:34 EDTBBRYOptions with increasing implied volatility
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May 13, 2015
13:15 EDTBBRYInquirer discusses recent Apple for BlackBerry takeover rumors
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11:12 EDTTRGPEnergy MLPs weak despite Williams deal for Williams Partners
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09:44 EDTTRGPMLPs that could trade up on Williams, Williams Partners news, says Credit Suisse
Credit Suisse said Plains GP Holdings (PAGP), Targa Resources (TRGP), NuStar (NSH), Western Gas Equity (WGP) could trade up on the Williams (WMB)/Williams Partners (WPZ) merger news.
May 12, 2015
05:58 EDTBBRYStocks with implied volatility movement; MNKD BBRY
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May 11, 2015
10:18 EDTBBRYBlackBerry calls active on renewed takeover chatter
Blackberry May calls are active 13K contracts (1K puts) on renewed takeover speculation. May call option implied volatility is at 39, June is at 58, August is at 44; compared to its 90-day average of 48 according to Track Data. Active call volume suggests traders taking positions for large near term price movement.
10:11 EDTBBRYRumor: BlackBerry moves up on renewed takeover chatter
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