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Stock Market & Financial Investment News

News Breaks
December 13, 2012
12:40 EDTAZN, MBI, CLWR, RIGL, ZAGG, BBY, ALLT, BAC, SOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, extending the slide that began late yesterday following Ben Bernanke's press conference. House Speaker John Boehner and Senate Majority Leader Harry Reid both held press conferences within about the last hour, bringing the fiscal cliff fight back to the forefront of investors' minds... ECONOMIC EVENTS: In the U.S., weekly jobless claims fell 29,000 to 343,000, versus expectations for a drop to 369,000. Producer prices in the month of November fell 0.8%, versus an expected decline of 0.5%. "Core" prices, excluding food and energy, rose 0.1%, which matched expectations. Retail sales rose 0.3% in November, which missed expectations for an increase of 0.5%. In Europe, the region's finance ministers approved the long-delayed release of financial aid to Greece. Also, an agreement was reached on the foundation of a true banking union with ECB oversight... COMPANY NEWS: Best Buy (BBY) jumped over 15% after Minneapolis' Star Tribune said the company's founder Richard Schulze may make a fully financed $5B-$6B buyout offer by the end of the week... Clearwire (CLWR) rose nearly 14% to $3.13 after Sprint (S) disclosed that it offered $2.90 per share for the remaining stake in the company it does not already own. Clearwire said that its talks with Sprint are ongoing... MAJOR MOVERS: Among the notable gainers were ZAGG (ZAGG), up 15% after announcing a $10M share repurchase program, and MBI (MBIA), up 6.5% following positive analyst commentary about the potential for a settlement with Bank of America (BAC). Among the noteworthy losers was Rigel Pharmaceuticals (RIGL), which fell almost 35% after an RA drug it is developing in partnership with AstraZeneca (AZN) failed to meet one of its endpoints in a trial. Shares of AstraZeneca, meanwhile, fell 2.6%. Also lower were shares of Allot Communications (ALLT), down over 11% following a downgrade to Hold at Wunderlich... INDICES: Near 12:30 pm ET, the Dow was down 19.89, or 0.15%, to 13,225.56; the Nasdaq was down 21.52, or 0.71%, to 2,992.29; and the S&P 500 was down 7.47, or 0.52%, to 1,421.01.
News For BBY;CLWR;S;ZAGG;MBI;BAC;RIGL;AZN;ALLT From The Last 14 Days
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June 26, 2015
16:00 EDTBACOptions Update; June 26, 2015
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11:00 EDTMBIOptions with increasing implied volatility
Options with increasing implied volatility: SRPT AGO CRC WMB AMZN CMG TRIP ZTS AET MBI
June 25, 2015
16:00 EDTBACOptions Update; June 25, 2015
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15:04 EDTBACNeuberger Berman buys management of PE fund of funds from BofA
Neuberger Berman announced that it has entered into an agreement with Merrill Lynch Alternative Investments, the alternative investment business of Bank of America whereby Neuberger Berman will acquire the management rights to certain Merrill Lynch traditional non-registered and 40-Act-registered private equity fund of funds. Merrill Lynch selected Neuberger Berman following an extensive due diligence process focused on private equity investment expertise, 40-Act capabilities and dedication to client service. Key private equity professionals from Merrill Lynch will be joining Neuberger Berman concurrent with the transaction. Terms of the deal are undisclosed. The transaction is expected to close in August.
14:00 EDTAZNAstraZeneca initiated with a Hold at HSBC
Price target GBP 46.40.
09:34 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL FB NFLX AMZN BAC CVX TWTR INTC GILD BBBY
07:13 EDTBACFed director says full transparency in stress testing can be 'enormous weakness'
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06:37 EDTSInternet Patents subsidiary awarded $30M in damages against Sprint Spectrum
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June 24, 2015
16:00 EDTBACActionable Options for Wednesday, June, 24
iPath S&P 500 VIX Short-Term Futures up 30c to 17.32 Option volume leaders: AAPL FB NFLX BAC VALE MU BABA WMB T F EBAY FCX TWTR BBRY
15:53 EDTBBYSunTrust identifies the most likely M&A activity in specialty retail
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11:11 EDTBBYAnalyst says Best Buy shares poised to rise
Best Buy's (BBY) stock is poised to advance after the company reports its second quarter results, research firm B. Riley predicted. WHAT'S NEW: Best Buy's forecast for increased margins in the second half of the year, along with easing comparisons, should cause the stock to rise, predicted B. Riley in a note to investors earlier today. The shares will be particularly well-positioned to climb after the company updates its guidance following its Q2 results, the firm believes. Best Buy's initiatives should help increase its revenue and profits heading into fiscal 2017 and the retailer can continues to increase its market share at the expense of Sears (SHLD), RadioShack and others. Additionally, macro economic trends remain favorable for Best Buy and its key product categories continue to perform well, according to B. Riley. The firm, which is particularly confident about the company's ability to beat Q4 consensus estimates, keeps a $47 price target on the name and reiterates a Buy rating on the shares. WHAT'S NOTABLE: In their own note to investors this morning, SunTrust analysts David Magee and D. Mitch Van Zelfden speculated on potential M&A activity in the specialty retail space, noting that "Wall Streetís appetite for acquisitions has strengthened recently." In their opinion, Best Buy acquiring GameStop (GME) is among the "most compelling relationships" in the sector, the note explained. PRICE ACTION: In mid-morning trading, Best Buy slid 0.4% to $34.72, while GameStop rose 1.3% to $44.92.
09:07 EDTAZNCAR-T cancer drug researchers seen as M&A targets, Bloomberg says
Juno Therapeutics (JUNO), Kite Pharma (KITE) and Bluebird Bio (BLUE) are trading well above their IPO levels as takeovers predictions have spurred interest and share increases for the developers of CAR-T gene therapies, said Bloomberg's "Real M&A" column, quoting Dimo Dimov, a professor at the University of Bathís School of Management, as having said that companies such as Pfizer (PFE), Merck (MRK), Roche (RHHBY) and AstraZeneca (AZN) are "closely watching" the firms. Cellectis (CLLS), which is working with Pfizer on its own approach to CAR-T therapy, has said it wants to bring its therapy to market and doesnít anticipate a sale, the report noted. Reference Link
07:27 EDTBBYBest Buy recommended ahead of 2H margin gains at B. Riley
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06:50 EDTAZNAstraZeneca loses top executive Ward-Lilley to Vectura, Reuters reports
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06:37 EDTBACDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
June 23, 2015
18:43 EDTSSprint CTO Stephen Bye to depart July 24, FierceWireless says
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16:00 EDTBACOptions Update; June 23, 2015
iPath S&P 500 VIX Short-Term Futures down 46c to 17. Option volume leaders: AAPL FB AAPL T BAC MU BTU WMB AMZN TWTR BBRY
09:36 EDTBACActive equity options trading on open
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07:31 EDTAZNBIND Therapeutics announces FDA authorization of clinical trial with AZD2811
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06:25 EDTBACBarclays-Stifel deal marks end of Lehman legacy, Business Insider reports
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