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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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March 23, 2015
09:45 EDTAZNUBS to hold a field trip
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09:06 EDTAZNInsmed appoints Eugene Sullivan as Chief Medical and Scientific Officer
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09:03 EDTAZNLeerink analysts hold a meeting with a conference call hookup
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07:36 EDTAZNPfizer should rise 'significantly' over next two years, says Jefferies
Jefferies analyst Jeffrey Holford told investors this morning that he expects shares of Pfizer (PFE) to appreciate "significantly" over the next two years. A survey of U.S. oncologists indicated the company's Ibrance drug will be used in 50% of first line hormonal therapy within one year, with off-label use in all lines of therapy including adjuvant, Holford noted. He thinks peak sales of the drug could top $13B, which is well above consensus. In addition, the analyst views Pfizer's Global Established Pharmaceutical business as being underappreciated by the market. Potential value creating options for the pharmaceutical giant include spinning off its GEP unit by 2017 and accretive acquisitions, with possible takeover targets being Shire (SHPG), Actavis (ACT), AstraZeneca (AZN) and GlaxoSmithKline (GSK), in the eyes of Holford. He added the stock to the firm's Franchise Picks list, which encompasses its best ideas. He also raised his price target for Pfizer to $45 from $42. The stock closed Friday up 10c to $34.25.
07:13 EDTSRadioShack bankruptcy auction to begin Monday, WSJ says
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March 20, 2015
10:36 EDTBACBank of America changes bylaws to allow some investors to nominate directors
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07:55 EDTAZNAstraZeneca seen as potential target again if oncology drugs lag, Bloomberg says
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05:57 EDTBACBank of America faces pressure to defend structure, Financial Times reports
Bank of America will have to defend its current structure at its annual meeting in May after the SEC allowed a small shareholder the right to challenge the board on a break-up, reports the Financial Times. Bank of America's board could be under pressure to appoint a committee to examine a plan for divesting all non-core banking businesses if a proposal from Barlett Naylor of Public Citizen is adopted. Reference Link
March 19, 2015
11:53 EDTBACU.S. banks face headwinds in unloading oil loans, WSJ says
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08:37 EDTAZNNektar and Daiichi Sankyo to commercialize Movantik in the U.S.
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06:30 EDTBACSEC says BofA must put investment bank spinoff to shareholder vote, Reuters says
The SEC has told Bank of America that it must allow shareholders to vote on whether the company will attempt to spin off its investment bank unit, reports Reuters, citing a decision by the Securities and Exchange Commission. A bank spokesperson said the company "will respond to the proposal in our proxy statement." Reference Link
March 18, 2015
13:59 EDTST-Mobile announces 'Un-contract,' 'Carrier Freedom' initiatives
Today, during an event held to announce Un-carrier 9.0 − Un-carrier for Business − T-Mobile (TMUS) unveiled two new major Un-carrier initiatives for consumers. First, with T-Mobile’s new "Un-contract," customers will now have more certainty in their wireless pricing than ever before. Consumers and businesses with the Simple Choice rate plan will find that rates won’t go up as long as they’re a T-Mobile customer and keep their plan − and even customers with unlimited 4G LTE will lock in their rates for a minimum of two years. The Un-carrier also launched "Carrier Freedom," a new move where T-Mobile will now cover all outstanding phone and tablet payments up to $650 per line when customers from AT&T (T), Verizon (VZ) or Sprint (S) switch to T-Mobile.
07:10 EDTBACPlatts to hold a forum
11th Annual Steel Markets North America is being held in Chicago on March 17-18.
March 17, 2015
14:10 EDTAZNIGI Laboratories recent sell-off a buying opportunity, says Craig-Hallum
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10:59 EDTBBYBest Buy calls active on activist investor speculation
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10:54 EDTBBYRumor: Best Buy moves up on activist investor speculation
Shares of Best Buy are moving higher amid speculation Carl Icahn may have acquired a stake in the company.
09:05 EDTBBYMicrosoft Band now available at Best Buy, Target, Amazon, Re/code reports
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08:34 EDTBACBank of America reinstated with an Outperform at Raymond James
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March 16, 2015
10:22 EDTBACBank of America February default rate 2.98% vs. 2.93% last month
Reports February delinquency rate 1.86% vs. 1.83% last month.
07:30 EDTAZNAmerican College of Cardiology to hold an expo
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