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Stock Market & Financial Investment News

News Breaks
December 10, 2012
10:09 EDTOAS, PXD, XEC, FST, SWN, TER, RKUS, ACTG, PWR, NXST, LUFK, DUK, BBYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Best Buy (BBY) initiated with an Underperform at BofA/Merrill... Duke Energy (DUK) initiated with an Overweight at Morgan Stanley... Lufkin (LUFK) initiated with a Market Perform at Wells Fargo... Nexstar (NXST) initiated with an Outperform at Wells Fargo... Quanta Services (PWR) initiated with a Buy at Deutsche Bank... Teradyne (TER) initiated with a Buy at Needham... Acacia Research (ACTG) initiated with an Outperform at Cowen... Ruckus Wireless (RKUS) initiated with a Buy at Lazard Capital... Southwestern Energy (SWN) initiated with an Underweight at Morgan Stanley... Forest Oil (FST) initiated with an Underweight at Morgan Stanley... Cimarex Energy (XEC) initiated with an Equal Weight at Morgan Stanley... Pioneer Natural (PXD) initiated with an Equal Weight at Morgan Stanley... Oasis Petroleum (OAS) initiated with an Equal Weight at Morgan Stanley.
News For BBY;DUK;LUFK;NXST;PWR;ACTG;RKUS;TER;SWN;FST;XEC;PXD;OAS From The Last 14 Days
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September 12, 2014
12:51 EDTRKUSOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. The day’s economic data, including retail sales figures, a report on import prices, and business inventories data, were generally in line with expectations. The economic bright spot was the University of Michigan consumer confidence report which came in higher than expected. The market is on the verge of ending the week lower, which would be its first weekly loss in the last seven. ECONOMIC EVENTS: In the U.S., sales at retailers climbed 0.6% in August, matching expectations but also representing the fastest pace in four months. Retail sales growth for July was also revised upward to 0.3% from a prior estimate of having been flat. Import prices dropped 0.9% in August, while export prices slipped 0.5%. The University of Michigan preliminary consumer sentiment reading for for September rose to 84.6, beating expectations for it to be up more modestly to 83.3. Business inventories grew 0.4% in July, as expected. COMPANY NEWS: Shares of eBay (EBAY) were up more than 2% near noon after rumors circulated that Google (GOOG) may look to take a stake in the company. However, an eBay spokesperson denied the speculation, telling Reuters that the company has held "no conversations" with Google about acquiring a stake. MAJOR MOVERS: Among the notable gainers was digital marketing services company Conversant (CNVR), which soared 30% after Alliance Data Systems (ADS) agreed to acquire it for about $2.3B in cash and stock. Following last night's announcement of the deal, some Conversant peers rose as well, as Criteo (CRTO) gained almost 5% and TubeMogul (TUBE) rose 1%, while Alliance Data gained over 2%. Among the noteworthy losers was Amarin (AMRN), which dropped 22% after an office within the FDA denied the company's appeal of FDA's rescission of the ANCHOR clinical trial Special Protocol Assessment agreement. Also lower were shares of Ruckus Wireless (RKUS), which fell 5% after one analyst downgraded the shares and another initiated coverage of the stock with an Underweight rating. INDEXES: Near midday, the Dow was down 66.43, or 0.39%, to 16,982.57, the Nasdaq was down 19.83, or 0.43%, to 4,571.97, and the S&P 500 was down 10.28, or 0.51%, to 1,987.17.
11:21 EDTRKUSRuckus Wireless sinks after analysts issue downbeat notes
Shares of Ruckus Wireless (RKUS), which provides products that enable Wi-Fi connections, are falling after one analyst downgraded the shares and another initiated coverage of the stock with an Underweight rating. WHAT'S NEW: Buckingham analyst Rohit Chopra downgraded Ruckus to Neutral from Buy this morning. Noting that the stock has surged 38% since June, Chopra believes that there are no significant unknown catalysts that are likely to increase Ruckus' multiple or cause its results to exceed expectations within the next year. Investors should take profits in the stock at current levels, wrote Chopra, who raised his price target on the shares to $16 from $15. Morgan Stanley analyst James Faucette initiated coverage of the stock with an Underweight rating last night. Ruckus has gained a significant share of the WiFi market due to its radio frequency technology which provides connectivity in difficult environments, Faucette stated. Ruckus' technology continues to be differentiated from its competitors' solutions, but its customers tend to have little need for advanced security or network management capabilities, the analyst believes. Consequently, they are unlikely to increase their investments in WiFi as much as the average WiFi provider, Faucette contended. Analysts' consensus estimates for the company's revenue growth in 2014-2016 are slightly too high, according to Faucette, who set a $13 price target on the shares. PRICE ACTION: In late morning trading, Ruckus dropped 5.4% to $14.31.
10:00 EDTRKUSOn The Fly: Analyst Initiation Summary
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10:00 EDTRKUSOn The Fly: Analyst Downgrade Summary
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09:14 EDTRKUSOn The Fly: Pre-market Movers
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08:55 EDTRKUSRuckus Wireless downgraded to Neutral from Buy at Buckingham
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07:12 EDTRKUSRuckus Wireless downgraded to Neutral from Buy at Buckingham
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September 11, 2014
18:06 EDTRKUSRuckus Wireless initiated with an Underweight at Morgan Stanley
Target $13.
10:00 EDTPXDOn The Fly: Analyst Upgrade Summary
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09:10 EDTPXDPioneer Natural upgraded to Outperform from Sector Perform at Howard Weil
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07:13 EDTBBYSome retailers wary of Apple Pay platform, Reuters says
Apple (AAPL) Pay's success is dependent on incorporating more large retailers such as Wal-Mart (WMT) and Best Buy (BBY) into the service, but both retailers recently ceased accepting payments using NFC terminals, according to Reuters, citing comments from Best Buy spokesman Jeff Shelman. Shelman said, "At this point we have no plans to accept Apple Pay." Reference Link
06:03 EDTACTGAcacia Research subsidiary reaches settlement with Fujitsu Network Communication
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September 10, 2014
07:12 EDTSWNSouthwestern Energy management to meet with UBS
Meeting to be held in Frankfurt on September 10 hosted by UBS.
September 9, 2014
08:47 EDTDUKDuke Energy management to meet with Deutsche Bank
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07:27 EDTPWRQuanta Services management to meet with UBS
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07:25 EDTSWNSouthwestern Energy management to meet with UBS
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September 8, 2014
07:38 EDTPWRQuanta Services management to meet with UBS
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06:56 EDTDUKDuke Energy management to meet with Deutsche Bank
Meetings to be held in Charlotte/Birmingham/Orlando on September 8 hosted by Deutsche Bank.
06:21 EDTBBYSmartwatch market to reach $10B by 2018, says Citigroup
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September 5, 2014
06:04 EDTACTGAcacia Research enters into settlement agreement with Kaba Ilco, Kaba Holding
Acacia Research announced that its O.S. Security LLC subsidiary has entered into a settlement agreement with Kaba Ilco Corporation and Kaba Holding AG. The agreement resolves litigation that was pending in the United States District Court for the Central District of California.
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