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Stock Market & Financial Investment News

News Breaks
April 10, 2012
16:19 EDTVPHM, XRIT, STD, BBY, JAG, BCS, UNCFF, OPTR, DHR, DB, SNEOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower, with the Dow falling over 200 points for the session. Equity futures were quiet in the pre-market trading session leading to a relatively flat open for the broader market. The averages picked up momentum to the downside following the wholesale inventories report for the month of February. The selling picked up in earnest around midday, with the averages eventually tacking on losses of more than 1.5%. The buyers may have been sitting on the sideline waiting to see how the earnings season begins tonight when Alcoa (AA) reports... ECONOMIC EVENTS: In the U.S., the NFIB small business optimism index fell to 92.5 in March. Wholesale inventories rose 0.9% in February, versus analysts' expectations for an increase of 0.5%. In China, an unexpected $5.35B trade surplus was reported for March, as imports rose 5.3% and exports increased 8.9% from a year ago. In Europe, the yield on Spanish 10-year bonds rose to nearly 6% despite the government's plans for additional budget cuts and local media reports in Italy pointed toward its government cutting its 2012 growth forecasts... COMPANY NEWS: Best Buy (BBY) said it came to "a mutual agreement" with CEO Brian Dunn that new leadership was needed, prompting Dunn to resign. Shares initially spiked on the news, then reversed to close down $1.33, or 5.87%, to $21.32... Sony (SNE) cut its outlook for the fourth time in less than a year, more than doubling its projected annual loss to $6.4B. The warning sent its stock tumbling $1.86, or 9.25%, to $18.24... Shares of a number of European banks fell with fears about the debt crisis in Europe coming back to the forefront. Unicredit (UNCFF) sank 6.82%, Banco Santander (STD) dropped 3.85%, Deutsche Bank (DB) declined 3.29%, and Barclays (BCS) slid 5.31%... MAJOR MOVERS: Among the notable gainers were X-Rite Incorporated (XRIT), up $1.54, or 38.50%, to $5.54, on news Danaher (DHR) will acquire the company for $5.55 per share, and Jaguar Mining (JAG), up 57c, or 14.11%, to $4.61, on speculation of a takeover bid after shares of China Shandong Gold, which had previously tried to buy the miner, were halted for trading overseas. Noteworthy losers included ViroPharma (VPHM), down $6.17, or 21.57%, to $22.44, after the FTC opened an investigation into the company and several competitors launched generic versions of its Vancocin drug, and Optimer Pharmaceuticals (OPTR), down $1.37, or 9.99%, to $12.35, following a warning that Q1 revenue will miss consensus... INDICES: The Dow fell 213.66, or 1.65%, to 12,715.93; the Nasdaq dropped 55.86, or 1.83%, to 2,991.22; and the S&P 500 lost 23.61, or 1.71%, to 1,358.59.
News For BBY;SNE;UNCFF;STD;DB;BCS;XRIT;DHR;JAG;VPHM;OPTR From The Last 14 Days
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August 25, 2015
16:43 EDTBBYOn The Fly: Top stock stories for Tuesday
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12:20 EDTBBYOn The Fly: Top stock stories at midday
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09:13 EDTBBYOn The Fly: Pre-market Movers
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08:51 EDTBBYBest Buy says 'substantial' amount of leases expiring this year
Best Buy CFO Sharon McCollam said, there are no stores that have negative cash flow but there may be additional store closures.
08:43 EDTBBYBest Buy to sell Apple Care in stores this quarter
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07:08 EDTBBYBest Buy sees Q3 flat to low-single digit domestic revenue growth
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07:06 EDTBBYBest Buy reports Q2 domestic SSS ex-items up 2.7%
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07:02 EDTBBYBest Buy sees no material changes in consumer spending in Q3
Sharon McCollam, Best Buy EVP, CAO and CFO, commented, "It is difficult to know, though, if the recent volatility in the financial markets will affect overall consumer spending. To date, however, we have not seen a measurable impact versus our original expectations. As such, our outlook assumes there will be no material changes in consumer spending in the third quarter. With that said, our year-over-year non-GAAP outlook for Q3 FY16 is as follows. In the Domestic business we are expecting (1) flat to low-single digit revenue growth; and (2) an approximately flat operating income rate change driven by a higher gross profit rate offset by increased SG&A due to inflation and growth-related investments. In the International business, due to the ongoing impacts of the Canadian brand consolidation and foreign currency, we are expecting (1) an International revenue decline of approximately 30% and (2) an International non-GAAP operating income rate in the range of negative 2.5% to negative 3.5%."
07:01 EDTBBYBest Buy reports Q2 adjusted continuing ops EPS 49c, consensus 34c
Reports Q2 revenue $8.53B, consensus $8.29B.
August 24, 2015
15:09 EDTBBYNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Best Buy (BBY), consensus 34c... Toll Brothers (TOL), consensus 49c... Valspar (VAL), consensus $1.26... DSW (DSW), consensus 42c... Children's Place (PLCE), consensus (33c).
12:29 EDTBBYBest Buy technical comments ahead of results
The shares have been trading in a bearish price channel since a peak of price in March of this year. If the news continues to be bearish, the current trend will likely continue. Next support below the current price of $30.53 is at the $29.50 area, the low of the current price channel. If the news is a sharp negative surprise, next supports will be at $28.11, $27.17, and $26.60. If the news is a bullish surprise, the top of the price channel at $32.78 would be the first important upside objective. It would take a breakout above the channel top to turn the trend back toward bullish. Next resistance above the channel would be at $33.75.
11:31 EDTBBYBest Buy volatility increases into Q2 and outlook
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August 21, 2015
06:31 EDTBBYBest Buy volatility into Q2 and outlook
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06:01 EDTSNEABI Research: Portable PC sales to remain flat in 2015, DigiTimes says
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August 20, 2015
19:53 EDTBBYRetailers, others question heightened fees at Port of Oakland, WSJ says
After the Port of Oakland said it is considering implementing additional fees, the Retail Industry Leaders Association told the Federal Maritime Commission that it is "troubled" due to the lack of details regarding the fees, according to the Wall Street Journal. The retailer group also questioned the general effectiveness of such a program, and the Agriculture Transportation Coalition echoed the criticism, said the report. Note that executives from Lowe's (LOW), Best Buy (BBY), Target (TGT), Coca-Cola (KO), J.C. Penney (JCP), Tyson Foods (TSN), SunOpta (STKL), and Whole Foods (WFM) serve on the boards of the aforementioned associations. Reference Link
11:45 EDTDHRKeysight Technologies soars after Q3 results, FY15 guidance top estimates
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09:42 EDTBBYBest Buy traffic and ticket trends improved in Q2, says ITG Research
ITG Research said Best Buy's traffic and ticket trends improve in Q2 versus Q1 driven by a mix shift towards big ticket items. The firm's Q2 domestic revenue estimates of $7.8B remains above consensus of $7.657B.
August 18, 2015
09:02 EDTDBDeutsche AWM acquires Wicker Park Commons shopping plaza
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06:49 EDTDBDeutsche Bank reorganizes FIC business, FT reports
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06:45 EDTBCSNine banks agree to $2B settlement for currency market rigging, FT says
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