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Stock Market & Financial Investment News

News Breaks
January 4, 2013
06:23 EDTBBTBB&T downgraded to Neutral from Buy at Goldman
Goldman downgraded BB&T based on lack of earnings catalysts, increasing competition, slowing loan growth, limited expense leverage, and balanced risk/reward. Price target is $31.
News For BBT From The Last 14 Days
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August 27, 2015
08:59 EDTBBTBB&T sees Q3 effective tax rate roughly 30%
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August 26, 2015
10:00 EDTBBTOn The Fly: Analyst Upgrade Summary
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08:26 EDTBBTBB&T upgraded on valuation at BMO Capital
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06:52 EDTBBTBB&T upgraded to Outperform from Market Perform at BMO Capital
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August 25, 2015
09:35 EDTBBTBB&T upgraded to Long-Term Buy from Neutral at Hilliard Lyons
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August 19, 2015
05:30 EDTBBTNational Penn downgraded to Neutral from Overweight at Piper Jaffray
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August 18, 2015
16:49 EDTBBTOn The Fly: Top stock stories for Tuesday
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13:33 EDTBBTOn The Fly: Top stock stories at midday
Repeating yesterday's start, the market began the session in negative territory before recapturing those losses. Early weakness was attributed to a dip in Wal-Mart (WMT) shares after the company's earnings report as well as a selloff in the Chinese market overnight. Heading into the afternoon, the market has drifted back across the flat line, with all three indices negative despite July's housing starts showing the strongest reading in eight years. ECONOMIC EVENTS: In the U.S., housing starts edged up 0.2% in July to 1.206M, outpacing consensus estimates for 1.180M in the best reading since October 2007. Building permits fell 16.3% to 1.119M against expectations for 1.230M from a revised 1.337M in June, while single family starts rose 12.8% and multifamily numbers fell 17.0%. In Europe, Eurozone parliaments are set to vote on Greece's prospective bailout deal this week, with Reuters reporting earlier today that the Austrian parliament has approved the EUR86B agreement. COMPANY NEWS: Shares of National Penn (NPBC) rose nearly 17% to $12.77 after BB&T (BBT) agreed to acquire the company in a $1.8B cash and stock deal. On a conference call discussing the acquisition, BB&T CEO Kelly King called the "very, very synergistic" deal a "compelling use of capital," adding that the company expects to consolidate about 25 branches to help drive annual cost savings of $65M... Wal-Mart (WMT) fell roughly 3.2% to near $69.50 after cutting its full year earnings outlook this morning, with CFO Charles Holley noting that operating profit will see continued pressure. Meanwhile, Home Depot (HD) and Dicks Sporting Goods (DKS) saw respective gains of about 2.3% and 1.8% after their pre-market earnings reports. MAJOR MOVERS: Among the notable gainers was Omeros (OMER), surging more than 69% to $24.58 after releasing positive preliminary data on its Phase 2 trial of OMS721 for the treatment of organ blood clots. Also higher was Inteliquent (IQNT), rising about 19% to $21.24 after announcing a three-year agreement with T-Mobile (TMUS) to provide IP voice services for the carrier. Separately, Lumber Liquidators (LL) has gained almost 5.7% to nearly $15 in afternoon trading after announcing the appointment of Jill Witter as Chief Compliance and Legal Officer. Among the noteworthy losers was Esperion (ESPR), falling over 11% despite rising 5% in pre-market trading after reporting that the ETC-1002 Phase 3 program is on track, adding that the FDA will not require a cardiovascular outcomes trial prior to the drug's potential approval. Also lower was American Apparel (APP), slipping about 1.9% after disclosing "substantial doubt" about its ability to sustain operations during the coming year. INDEXES: Near midday, the Dow was down 40.37, or 0.23%, to 17,504.81, the Nasdaq lost 26.86, or 0.53%, to 5,064.96, and the S&P 500 was lower by 6.02, or 0.29%, to 2,096.41.
09:23 EDTBBTOn The Fly: Pre-market Movers
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07:02 EDTBBTBB&T to host conference call
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05:12 EDTBBTBB&T to acquire National Penn in cash, stock deal valued at $1.8B
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05:09 EDTBBTBB&T to acquire National Penn in cash, stock deal valued at $1.8B

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