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Stock Market & Financial Investment News

News Breaks
January 16, 2014
09:12 EDTBBY, CSX, UNH, AMGN, ILMN, SRPT, NUS, BLK, APO, CEC, SCHW, YHOO, JCP, C, HPQ, AMRNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Charles Schwab (SCHW), up 3%... BlackRock (BLK), up 1.5%. ALSO HIGHER: CEC Entertainment (CEC), up 13% after acquired by Apollo (APO) affiliate for $54 per share... HP (HPQ), up 2% after upgraded at BofA Merrill Lynch... Sarepta Therapeutics (SRPT), up 16% after announcing that data from a study of eteplirsen demonstrates continued stability in walking test... Illumina (ILMN), up 4.8% after in agreement with Amgen (AMGN) to develop oncology companion diagnostic test. DOWN AFTER EARNINGS: Citigroup (C), down 2.6%... CSX (CSX), down 6%.... UnitedHealth (UNH), down 0.5%. ALSO LOWER: Best Buy (BBY), down 30% after reporting domestic Holiday same-store sales fell 0.9%... Yahoo (YHOO), down 2% after COO Henrique de Castro to leave company effective January 16 after reportedly clashing with CEO Mayer... J.C. Penney (JCP), down 3.9% after announcing plans to close 33 underperforming stores and cut 2K jobs... after reporting earnings and revenue that just slightly missed estimates... Nu Skin (NUS), down 16.3% after responding to People's Daily article that called it a "pyramid scheme"... Amarin (AMRN), down 9.6% after the FDA delayed its ANCHOR SPA appeal, shares downgraded at MKM Partners.
News For BBY;HPQ;C;JCP;YHOO;SCHW;CEC;APO;BLK;NUS;SRPT;ILMN;AMGN;UNH;CSX;AMRN From The Last 14 Days
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October 13, 2014
09:28 EDTYHOOYahoo upgraded to Buy from Hold at BGC Financial
BGC Financial analyst Colin Gillis upgraded his rating on Yahoo (YHOO) shares to Buy saying the company's remaining assets should get monetized in a more tax efficient manner now that Alibaba (BABA) is public. Gillis also points out that Alibaba could see benefits from acquiring Yahoo. He raised his price target for Yahoo shares to $50 from $37.
09:23 EDTHPQHP could buy lower valuation company, says Bernstein
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09:21 EDTCSX, HPQOn The Fly: Pre-market Movers
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08:38 EDTJCPJ.C. Penney names Marvin Ellison CEO-Designee
The board of J. C. Penney (JCP) announced the appointment of Marvin Ellison, currently executive vice president of stores at Home Depot (HD), as president and CEO-Designee, effective November 1. Ellison will also join the board. He will then succeed Myron E. Ullman, III as CEO of JCPenney on August 1, 2015. At that time, Ullman will become executive chairman of the board for a period of one year.
08:24 EDTCSXCSX price target raised to $37 from $32 at Bernstein
Bernstein raised its price target on CSX (CSX) after The Wall Street Journal reported that the company was approached by Canadian Pacific (CP) about a possible merger. The firm thinks the deal could enable CSX to more quickly raise its margins and presents it with an opportunity to unlock significant near-term value. Bernstein says the report makes it more constructive on CSX, but it keeps a Market Perform rating on the shares.
08:01 EDTCSXCanadian Pacific, CSX merger timing not ideal, says Cowen
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07:23 EDTCSXCSX volatility up, approached by Canadian Pacific on possible merger, report
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07:19 EDTCAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
07:15 EDTUNHNational Association of Corporate Directors to hold a conference
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06:44 EDTCRegulators seeking banks' auto loan data, Reuters reports
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06:37 EDTBLKBlackRock, Morgan Stanley to buy shares in Link Net, WSJ reports
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06:15 EDTJCPJ.C. Penney downgraded to Sell from Neutral at UBS
UBS downgraded its rating on J.C. Penney (JCP) shares to Sell saying the company's 2017 EBITDA target of $1.2B is overly optimistic as it assumes years of market share gains against strong competitors like Macy's (M) and Kohl's (KSS). UBS halved its price target for Penney shares to $5 from $10. The retailer's stock closed Friday down 52c to $7.12.
05:32 EDTAPOApollo Credit launches retail sector investment JV
Funds managed by affiliates of Apollo Global Management announce the launch of Alteri Investors, a new joint venture focused on financing opportunities arising across performing, stressed and distressed retail sector situations in Europe. Structured as a partnership between funds managed under Apollo’s credit business and a team led by former GA Europe CEO Gavin George, Alteri will initially focus on the United Kingdom and Germany and expects to invest in retailers through both debt and equity transactions, typically in the GBP 10M-GPB 50M range, with additional capacity for larger transactions. Alteri will also seek to lend to retailers directly, providing flexible asset-based financing, either in a senior or second-lien capacity. In addition to the scale, resources and capital funding that Apollo Credit expects to contribute to Alteri, the Joint Venture will draw upon the experience of Alteri Advisors, which comprises a team of highly experienced professionals, drawn in part from the former GA Europe business under the leadership of Gavin George.
00:04 EDTCBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
19:26 EDTSRPTPatient being evaluated at Boston hospital for possible Ebola, Boston Globe says
Health officials say that a man that recently traveled to Liberia is being assessed at Beth Israel Deaconess hospital in Boston for the Ebola virus, the Boston Globe says. Drug companies that are working on experimental Ebola treatments include Tekmira (TKMR), Sarepta (SRPT), BioCryst (BCRX), Chimerix (CMRX) and NewLink Genetics (NLNK). Reference Link
19:12 EDTSRPTCDC confirms Texas healthcare worker positive for Ebola
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16:04 EDTCSXCSX approached by Canadian Pacific on possible merger, WSJ says
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14:18 EDTSRPTNY's JFK Airport begins Ebola screenings, WSJ says
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13:03 EDTCBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
12:48 EDTSRPTTexas health-care worker tests positive for Ebola, WSJ says
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