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Stock Market & Financial Investment News

News Breaks
June 19, 2014
16:36 EDTETE, PIR, TRGP, BBRY, NGLS, CMGEOn 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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April 27, 2015
12:37 EDTBBRYBlackBerry CEO says expanding apps availability on phone
BlackBerry CEO is speaking on a CNBC interview.
06:05 EDTBBRYBlackBerry implied volatility of 37 at lower end of index mean range
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April 24, 2015
16:14 EDTBBRYBlackBerry considers shutting down Sweden operations, WSJ reports
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April 23, 2015
14:25 EDTBBRYBlackBerry shares jump after MobileIron cuts Q1 revenue outlook
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April 22, 2015
09:33 EDTTRGPTarga Resources downgraded to Equalweight from Overweight at Capital One
April 21, 2015
18:38 EDTNGLSTarga Resources Partners raises quarterly dividend to 82c per share
Targa Resources Partners announced that the board of its general partner has declared a quarterly cash distribution of 82c per common unit, or $3.28 on an annualized basis, for Q1. The approved distribution represents increases of approximately 1.2% over the previous quarter's distribution. This cash distribution will be paid May 15, on all outstanding common units to holders of record as of the close of business on May 4.
18:37 EDTTRGPTarga Resources raises quarterly dividend to 83c per share
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18:32 EDTTRGPTarga Resources expects FY15 effective cash tax rate of 5%-10%
TRC expects FY15 dividend growth of 25%+ over 2014, resulting in about 1.0 times dividend coverage. Sees FY15 effective cash tax rate of 5%-10% and in the near term beyond 2015, an annual effective cash tax rate less than 15%.
18:31 EDTNGLSTarga Resources Partners sees FY15 gross growth CapEx $700M-$900M
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18:29 EDTNGLSTarga Resources expects flat to low single digit volume growth for FY15
Given the commodity price environment and current expectations for producer activity, TRP expects flat to low single digit 2015 average volume growth for our field gathering and processing operations compared to Q4 of FY14 volumes. Additionally, if commodity prices do not improve from current levels over the course of 2015, average 2016 TRP field volumes may be lower than average 2015 volumes. In the Logistics and Marketing division, TRP expects that 2015 operating margin may be modestly lower than 2014 operating margin. We expect 2015 distribution growth for TRP of 4%-7% over 2014 and approximately 1.0 times distribution coverage.
09:09 EDTBBRYBlackBerry to acquire WatchDox, term not disclosed
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06:16 EDTBBRYBlackBerry could acquire WatchDox for $150M-$200M, Globes reports
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April 17, 2015
16:24 EDTNGLSTarga Resources Partners files $1B mixed securities shelf
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09:05 EDTPIRPier 1 Imports management to meet with Oppenheimer
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07:11 EDTBBRYBlackBerry management to meet with UBS
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April 15, 2015
10:19 EDTPIROptions with decreasing implied volatility
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06:11 EDTBBRYBlackBerry implied volatility of 43 at lower end of index mean range
April 14, 2015
10:34 EDTPIROptions with decreasing implied volatility
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06:28 EDTBBRYBlackBerry implied volatility of 43 at lower end of index mean range
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