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Stock Market & Financial Investment News

News Breaks
January 17, 2014
10:04 EDTPBCT, BJRI, STRA, SINA, SSNI, STM, FUEL, RMD, QRE, NUS, NMM, MAIN, CLC, COLM, BBYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Best Buy (BBY) downgraded to Neutral from Buy at UBS... Clarcor (CLC) downgraded to Neutral from Outperform at RW Baird... Columbia Sportswear (COLM) downgraded to Neutral from Neutral at Macquarie... Main Street (MAIN) downgraded to Market Perform from Outperform at Raymond James... Navios Maritime Partners (NMM) downgraded to Hold from Buy at Stifel... Nu Skin (NUS) downgraded to Neutral from Buy at BofA/Merrill... QR Energy (QRE) downgraded to Hold from Buy at MLV & Co.... ResMed (RMD) downgraded to Neutral from Outperform at Macquarie... Rocket Fuel (FUEL) downgraded to Market Perform from Outperform at BMO Capital... STMicroelectronics (STM) downgraded to Neutral from Outperform at Exane BNP Paribas... Silver Spring Network (SSNI) downgraded to Neutral from Outperform at RW Baird... Strayer (STRA) downgraded to Underperform from Neutral at BofA/Merrill... SINA (SINA) downgraded to Hold from Buy at Jefferies... BJ's Restaurants (BJRI) downgraded to Neutral from Buy at Sterne Agee... People's United (PBCT) downgraded to Neutral from Overweight at JPMorgan.
News For BBY;COLM;CLC;MAIN;NMM;NUS;QRE;RMD;FUEL;STM;SSNI;SINA;STRA;BJRI;PBCT From The Last 14 Days
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April 17, 2014
12:00 EDTSINAWeibo opens for trade at $16.27, IPO priced at $17.00
Weibo (WB), a social media platform in China, is a majority-owned subsidiary of SINA (SINA).
11:49 EDTSINAWeibo IPO indicated to open $16.50
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11:47 EDTSINAWeibo IPO indicated to open $16.80
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11:42 EDTSINAWeibo IPO indicated to open $17.00
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11:36 EDTSINAWeibo IPO indicated to open $17.20
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08:03 EDTSINASINA shares undervalued, says Stifel
After conducting a sum of the parts analysis of SINA following the IPO of Weibo, Stifel believes that, based on the company's current stock price, its core portal business and investments in Alibaba Group and 9158.com are being given a negative valuation. The firm notes that SINA's portal business generates estimated annual adjusted EBITDA of about $175M. Stifel lowered its price target on the stock to $80 from $100 and keeps a Buy rating on the stock.
07:20 EDTSINAWeibo grosses $285.6M in IPO with low-end pricing, Bloomberg says
Weibo, the Chinese microblogging service owned by Sina (SINA) and Yahoo's (YHOO) Alibaba, grossed $285.6M in its U.S. IPO after pricing the shares on the lower-side of a marketed range, reported Bloomberg. Reference Link
April 16, 2014
17:22 EDTPBCTPeople's United announces transition for CFO Kirk Walters
People's United Financial announced that CFO Kirk Walters is transitioning out of his role as CFO of People's United Bank for family reasons. David Rosato, who has served as Treasurer since 2007, will succeed Walters as CFO of the bank. Both changes are effective immediately. Walters will continue to serve as CFO of People's United Financial, the bank's holding company, through December 31, when Rosato is expected to assume that position. Walters will remain an executive officer, transitioning as of January 1, 2015 to the role of Senior EVP, Corporate Development and Strategic Planning. He will also remain a member of the Board of Directors of the company and the bank.
17:09 EDTPBCTPeople's United raises dividend to annual rate of 66c per share
Based on the closing stock price on April 16, the dividend yield on People's United Financial common stock is 4.4%. The quarterly dividend of 16.5c per share is payable May 15 to shareholders of record on May 1.
17:07 EDTPBCTPeople's United reports Q1 operating EPS 19c, consensus 20c
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April 15, 2014
13:27 EDTSINASina's Weibo not likely to have same debut share increase as Twitter, FT says
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11:41 EDTBBYElectronics retailers sink after hhgregg lowers outlook
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April 14, 2014
10:02 EDTSTMOn The Fly: Analyst Downgrade Summary
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05:30 EDTSTMSTMicroelectronics downgraded to Sell from Neutral at UBS
UBS downgraded STMicroelectronics to Sell citing valuation.
April 11, 2014
15:54 EDTNUSNu Skin puts active after FT reports Herbalife facing criminal investigation
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15:45 EDTNUSUsana, Nu Skin on lows after FT reports Herbalife facing criminal investigation
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09:13 EDTSINAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Fastenal (FAST), up 3%... Wells Fargo (WFC), up 0.2%. ALSO HIGHER: H&R Block (HRB), up 5% after announcing a deal for BofI (BOFI) to acquire H&R Block's bank assets. Bofi up 9.4% after the deal announcement... Zynga (ZNGA), up 1.7% after naming new CFO, shares upgraded to Equal Weight at Morgan Stanley... SINA (SINA), up 2% after announcing up to $500M share repurchase program. DOWN AFTER EARNINGS: JPMorgan (JPM), down 3.7%... NQ Mobile (NQ), down 14.6%. ALSO LOWER: Gap (GPS), down 4% after reporting March SSS fell 6%, shares downgraded at Janney Capital... Voxeljet (VJET), down 16% after 3M share secondary offering priced at $15.00... Datawatch (DWCH), down 29% after cutting its second quarter revenue outlook.
08:31 EDTSINASINA announces up to $500M share repurchase program
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April 10, 2014
16:06 EDTBBYZynga CFO Vranesh leaving company, Best Buy's Lee to succeed as CFO
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08:26 EDTSINASINA licensed to to sell investment products in China, Marbridge Daily says
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