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Stock Market & Financial Investment News

News Breaks
December 27, 2012
06:10 EDTWLP, TOSBF, RSH, NDAQ, JCP, BBY, FTE, CBI, SHLDOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Home prices are on track to record their first yearly gain since 2006, the strongest performance since the housing bust and a development that could accelerate the real-estate rebound, the Wall Street Journal reports...While 2013 will be a tough year for retailers because of the weak economic recovery, a few in particular face a critical 12 months: Best Buy (BBY), RadioShack (RSH), Sears Holdings (SHLD) and J.C. Penny (JCP), the Wall Street Journal reports...REUTERS: This holiday season may have been the worst for retailers since the financial crisis, forcing many to offer massive post-Christmas discounts in hopes of shedding excess inventory. Shares of retailers declined yesterday, helping to pull down the broader indexes, as investors realized they were likely to be disappointed when companies start to report results, Reuters reports...Toshiba Corp. (TOSBF) is in talks with three parties, including Chicago Bridge and Iron Company (CBI), to sell a portion of its stake in its nuclear power unit Westinghouse, Reuters reports...BLOOMBERG: Nasdaq OMX Group (NDAQ), WellPoint (WLP) and France Telecom (FTE) are among 21 large companies facing potential goodwill write downs for underperforming acquisitions, Bloomberg reports...Global mergers and acquisitions jumped to the highest level in four years this quarter, as a surge in U.S. deals provided ground for optimism in what has been the worst year for takeovers since the financial crisis, Bloomberg reports.
News For BBY;RSH;SHLD;JCP;TOSBF;CBI;NDAQ;WLP;FTE From The Last 14 Days
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April 21, 2015
06:06 EDTTOSBFToshiba to launch transportable hydrogen power generator, WSJ reports
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April 20, 2015
15:16 EDTCBIGreenlight starts new GM long position, rolls Lorillard short bet to Reynolds
David Einhorn's Greenlight Capital hedge fund said in its latest quarterly letter to investors that it had established new long positions in General Motors (GM), Chicago Bridge & Iron (CBI) and AerCap Holdings (AER) last quarter. WHAT'S NEW: Greenlight believes GM should benefit from low gas prices, low raw material costs, and its decision to launch share buybacks, Greenlight stated. GM has an excellent chance of beating 2015 EPS expectations, added the firm. Einhorn's group said they found the valuation of Chicago Bridge and Iron, an engineering and construction company with significant exposure to energy, attractive following the stock's decline. Although energy prices may stay low for some time, the company has a significant backlog that should support its earnings for several years, Greenlight stated. Additionally, the market is overestimating how much of the cost overruns for two nuclear energy projects with be shouldered by the company, Greenlight contended. AerCap, the largest publicly traded aircraft leasing company, bought AIG's (AIG) aircraft leasing business last year at a bargain price, Greenlight stated. The combined business will benefit from AerCap's low tax rate, as well as efficiencies, the hedge fund believes. WHAT'S NOTABLE: Greenlight exited its short position in Lorillard (LO). Greenlight noted that it has rolled its short bet on Lorillard into a fresh position in Reynolds American (RAI), since it still believes that the FDA is gearing up to do "something major" in terms of regulation of menthol cigarettes, but is moving "slowly and deliberately" because it anticipates an extremely aggressive industry response. The firm also exited two other short positions because the companies agreed to takeovers: Safeway (SWY) and Freescale Semiconductor (FSL), which has agreed to sell itself to NXP Semicondictors (NXPI).
14:16 EDTCBIEinhorn lists AerCap, CBI, GM as new longs, Bloomberg reports
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08:03 EDTCBIChicago Bridge & Iron awarded contract by NefteGazIndustriya
CB&I announced it has been awarded a contract by NefteGazIndustriya through project developer MAVEG, to provide engineering and procurement services for the Afipsky Oil Refinery in Krasnodar, Russia. CB&I's project scope includes early detail engineering and procurement services for multiple new process units, including a 2.5M ton per annum hydrocracker unit.
April 17, 2015
06:09 EDTNDAQBATS seeks to gain maket share in options trading, ETFs, WSJ reports
BATS Global Markets (BATS) is planning to launch an options market, EDGX Options, in November, which will compete directly with options exchanges run by Nasdaq OMX Group (NDAQ) and International Securities Exchange, The Wall Street Journal reports. In other BATS moves, the stock exchange operator has hired Laura Morrison, a senior NYSE (ICE) officer to run its global exchange-traded funds business. Reference Link
April 16, 2015
07:11 EDTSHLDSears may need to contibute more money into pension plan, WSJ reports
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April 15, 2015
11:09 EDTJCPJ.C. Penney rally would be opportunity to issue shares, says Imperial Capital
Imperial Capital continues to expect elevated debt levels to erode the value of J.C. Penney shares, but it thinks favorable operating momentum could drive the stock price above $10. Imperial believes such a rally would provide Penny with a "great opportunity" to issue additional shares to pay down debt. The firm keeps an Underperform rating on Penny with a $3 price target. Shares of the retailer are up 9c to $9.23 in late morning trading.
April 14, 2015
11:47 EDTJCPJ.C. Penney business on 'more stable footing,' says Baird
Baird analyst Mark Altschwager says J.C. Penney's business is on "more stable footing" after the retailer reported a quarter-to-date comp of 6% and provided Q1 comp guidance above consensus. Altschwager raised his price target for shares to $10 from $9 but keeps a Neutral rating on Penny. He believes meaningful free cash flow growth will be challenging as investment needs normalize.
08:55 EDTJCPJ.C. Penney sees Q1 SSS up 3.5%-4.5%
J.C. Penney said in a regulatory filing that on April 13, the company became aware that a senior official of the company inadvertently sent an e-mail communication to a securities analyst that contained non-public information regarding the company’s comparable store sales results for Q1 to date, which are approximately 6%. Based on results to date, and taking into account the shift of Easter into the fiscal month of March this year, the company currently expects comparable store sales for Q1 to be in the range of 3.5%-4.5%.
April 13, 2015
16:07 EDTBBYBest Buy chairman retiring June 9, CEO Joly to take on chairman role
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09:23 EDTSHLDSears moves higher on Simon Property Group deal
Price was last higher by over 3.8% in the pre-market to $44.60 after the company struck a deal with Simon Property Group (SPG) similar to that previously made with General Growth Properties (GGP). Resistance is at $45.69. Support is at $44.02.
06:35 EDTSHLDSears volatility low into Simon Property a joint venture of real estate holdings
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06:22 EDTJCP, SHLDGap, Target, others scrutinized by NY AG over staffing practices, WSJ says
Several major retailer including Gap (GPS) and Target (TGT) are under investigation by New York Attorney General Eric Schneiderman over their staffing practices and whether they require workers to show up or stay home with little notice, The Wall Street Journal reports. Schneiderman sent letters warning Abercrombie & Fitch (ANF), JC Penney (JCP), Urban Outfitters (URBN), TJX Cos (TJX), Ann Inc (ANN), L Brands (LB), Burlington Stores (BURL), Sears Holdings (SHLD), Williams-Sonoma (WSM) and J Crew Group that he believes the chains are using on-call scheduling and that such practices may be in violation of New York laws. Reference Link
06:06 EDTSHLDSears, Simon Property form 50/50 JV
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April 10, 2015
16:09 EDTNDAQNASDAQ announces end-of-month open short interest positions
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April 9, 2015
09:18 EDTBBY, JCPBofA/Merrill retail analysts hold an analyst/industry conference call
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05:40 EDTTOSBFIBA and Toshiba sign strategic partnership in particle therapy
Ion Beam Applications and Toshiba announce the signing of a global collaboration to expand access to advanced particle therapy worldwide. Toshiba Medical Systems Corporation will become the distributor in Japan for ProteusONE, IBA’s compact single-room proton therapy solution, and IBA will become the agent for Toshiba’s Carbon Therapy Solutions outside Japan. IBA and Toshiba will collaborate on activities such as customer education for Proteus®ONE and Toshiba's carbon therapy solutions. The collaboration will also enable both organizations to mutually leverage their Operation and Maintenance services.
April 8, 2015
08:06 EDTNDAQNASDAQ, KBW announce strategic partnership
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