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Stock Market & Financial Investment News

News Breaks
June 26, 2014
16:23 EDTRDEN, BABA, MEI, YHOO, BCS, QLTI, IRM, GPRO, AUXLOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory and proceeded to spend the entire session there. The early move lower had pushed the Dow to a triple digit loss about an hour into trading, but the market then spent the rest of the day trying to get back to positive territory and fell just short of doing so. ECONOMIC EVENTS: In the U.S., initial jobless claims in the third week of June came in at 312k, which was a hair above the 310K forecast. Personal income rose 0.4% in May, matching expectations, but consumer spending grew only 0.2%, missing the forecast for 0.4% growth. COMPANY NEWS: Shares of Barclays (BCS) trading in New York fell $1.16, or 7.38%, to $14.55 after New York's Attorney General announced a lawsuit against the bank arising from the operation of its dark pool and other aspects of its electronic trading division. Bloomberg, citing people with knowledge of the matter, said some money managers are telling brokers not to send orders to Barclays LX venue after NY AG Eric Schneiderman accused the venue of misleading clients about high-frequency trading... Action camera maker GoPro (GPRO) made its stock market debut and rose $7.34, or 30.58%, to close at $31.34 after its initial public offering priced at $24 per share... China's Alibaba (BABA), in which Yahoo (YHOO) holds a significant stake, confirmed it will apply for listing on the New York Stock Exchange under the symbol “BABA.” MAJOR MOVERS: Among the notable gainers was Iron Mountain (IRM), which gained $5.97, or 20.05%, to $35.74 after its board of directors approved the company’s conversion to a real estate investment trust, or REIT, following the receipt of favorable private letter rulings from the IRS. Also higher was Methode Electronics (MEI), which rose $4.66, or 14.11%, to $37.68 after its Q4 sales and its revenue outlook for the new fiscal year beat estimates. Among the noteworthy losers was Elizabeth Arden (RDEN), which fell $4.59, or 17.0%, to $22.41 after Reuters reported that South Korea's LG Household disclosed that it is no longer considering a takeover of the U.S. cosmetics company. Also lower was Auxilium (AUXL), which fell 54c, or 2.54%, to $20.69 after agreeing to merge with QLT Inc (QLTI). Auxilium shares were up more than 16% near noon but continued to move lower during the afternoon to eventually close in the red, with analysts at Brean Capital saying that the deal suggests that no company was interested in buying "old" Auxilium prior to it reaching this agreement. INDEXES: The Dow slid 21.38, or 0.13%, to 16,846.13, the Nasdaq dropped 0.71, or 0.02%, to 4,379.05, and the S&P 500 slipped 2.31, or 0.12%, to 1,957.22.
News For BCS;BABA;GPRO;YHOO;RDEN;IRM;MEI;AUXL;QLTI From The Last 14 Days
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April 13, 2015
12:31 EDTBABAEtsy started with Neutral rating, $14 target ahead of IPO
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11:25 EDTYHOOStarboard CEO says Yahoo parts worth more than whole
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11:24 EDTGPROStocks with call strike movement; GPRO FEYE
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05:51 EDTGPROStocks with implied volatility movement; ALTR GPO
Stocks with implied volatility movement; Altera (ALTR) 68, GoPro (GPRO) 62 according to iVolatility.
April 12, 2015
19:01 EDTYHOONokia maps unit HERE may be of interest to several tech firms, Re/code says
If Nokia is putting its mapping unit HERE up for sale it may draw interest from firms like Microsoft (MSFT), Yahoo (YHOO), Amazon (AMZN) and Apple (AAPL), says Re/code. Reference Link
17:01 EDTYHOOYahoo demotes head of Tumblr, WSJ says
David Karp has been demoted as head of Yahoo's Tumblr division while Adam Cahan, the company's SVP of Mobile, will lead a new group concentrating on video, reports the Wall Street Journal's Digits blog, citing a company-wide memo sent by CEO Marissa Mayer. Simon Khalaf has been promoted to SVP overseeing the Yahoo homepage and Tumblr, and will work on making Tumblr "work more closely together" with other Yahoo properties, said a person briefed on the reshuffling plans. Reference Link
April 10, 2015
16:45 EDTYHOOYahoo SVP, Mike Kerns, leaves, Re/code reports
Yahoo SVP, Mike Kerns has departed the company, Re/code reports. Kerns reports directly to Mayer as SVP of the homepage and other verticals such as video. Reference Link
13:04 EDTBABAStreet Check: JD.com up 20% since William Blair upgrade last month
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06:35 EDTBABAAlibaba forms 'smart living,' automotive units, Reuters reports
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April 9, 2015
20:21 EDTBABAAAFA files complaint with SEC over Alibaba counterfeits
The American Apparel and Footwear Association filed complaints yesterday against Alibaba with the U.S. Securities and Exchange Commission as well as the U.S. Trade Representative. The complaints cite "rampant proliferation of counterfeit apparel and footwear on the TaoBao platform of Alibaba" and go on to state: "Our members encounter innumerable counterfeits on TaoBao every day, which result in millions of dollars of lost sales. While some members have had mixed success in securing take-downs of a small percentage of these infringing products, others are frustrated at the slow and cumbersome procedures that prevent swift action. Successes are short-lived as counterfeit products often reappear within hours or days of a take-down. For much of the past year, we have been working with representatives of Alibaba to address these concerns. Although Alibaba has publicly accepted several of the concepts we’ve discussed, including an updated take-down system, a 'trusted reporter program,' and an increased focus on physical raids and law enforcement cooperation, implementation has been sluggish or non-existent. We are now urging the Commission to use its oversight authority over Alibaba to increase scrutiny of Alibaba’s efforts to police TaoBao for counterfeits, especially given commitments made during the period leading up to last year’s IPO." Reference Link
09:55 EDTYHOOYahoo testing search pages without Bing branding, Business Insider reports
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08:51 EDTYHOOYahoo headcount reductions could drive flat EBITDA, says Morgan Stanley
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05:23 EDTBABACostco and Tmall Global release joint statement regarding 'false claims'
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April 8, 2015
09:00 EDTYHOOYahoo says bringing mobile audience targeting to native advertisers
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06:34 EDTYHOOYahoo, Tumblr may undergo significant changes, The Information says
Yahoo is preparing to make significant organizational changes that may alter Tumblr's product management team and end Tumblr's status as a standalone unit, according to The Information. Reference Link
06:22 EDTBABAAlibaba considers hiving off some movie assets, Variety reports
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April 7, 2015
12:15 EDTYHOOYahoo volatility at low end historic range
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11:41 EDTBCSBarclays' Felder to step down as head of markets, WSJ reports
Eric Felder, the head of markets at Barclays, is set to leave the bank just a year after being named to the role, The Wall Street Journal reports, citing an internal memo. Joe Corcoran, who is the current head of the bank's equities and credit products unit, will replace Felder on an interim basis. Reference Link
10:31 EDTGPROGoPro calls active on speculation of an activist investor stake
GoPro April weekly 44 and 45 calls are active on 5K contracts (1K puts) on speculation of an activist investor stake. April weekly call option implied volatility is at 51, April is at 43, May is at 56, July is at 49; compared to its 26-week average of 57 according to Track Data. Active call volume suggests traders taking positions for large price movement.
10:18 EDTGPRORumor: GoPro moves off lows on speculation of an activist investor stake
Shares of GoPro have moved off lows on renewed speculation Carl Icahn has taken a stake in the company.
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