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June 26, 2014
16:23 EDTAUXL, RDEN, BABA, MEI, YHOO, BCS, QLTI, IRM, GPROOn 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.
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March 26, 2015
06:41 EDTYHOOTwitter to outpace Yahoo in display ad revenue, WSJ says
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05:43 EDTGPROGoPro upgraded to Outperform from Neutral at RW Baird
Baird assumed coverage on GoPro with an Outperform rating from a Neutral rating.
March 25, 2015
18:16 EDTBCSSFX Entertainment CEO Sillerman engages Barclays Capital, Jefferies
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11:46 EDTBABAStocks with call strike movement; BABA TSLA
Alibaba (BABA) July 97.50 call option implied volatility increased 2% to 30, Tesla (TSLA) July 225 call option implied volatility increased 3% to 40 according to IVolatility.
09:35 EDTGPROActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TWTR TSLA KRFT FB BIDU GPRO V GILD NFLX
08:32 EDTGPROFBN 'strongly' recommends buying shares of GoPro
Shares of GoPro around $42 are "especially attractive," FBN Securities analyst Shebly Seyrafi tells investors this morning in a research note. The stock has sold off despite the camera maker's "robust" growth rates, and is now down 58% from its 52-week high of $98, Seyrafi says. The analyst thinks concerns related to Xiaomi's entry into the sports camera market with its Yi Action Camera are overblown. He "strongly" recommends purchase of GoPro and reiterates an Outperform rating on the stock with a $75 price target. The action camera maker closed yesterday at $41.83.
March 24, 2015
14:25 EDTBABAFinjan Holdings says joining Alibaba in JVP investment
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12:59 EDTGPROGoPro Channel launches on premium video service Vessel
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10:50 EDTBABAStocks with call strike movement; FB BABA
Facebook (FB) September 95 call option implied volatility increased 2% to 27, Alibaba (BABA) July 92.5 call option implied volatility increased 2% to 30 according to IVolatility.
05:59 EDTGPROGoPro implied volatility of 50 at lower end of index mean range
March 23, 2015
13:41 EDTGPROGoPro moves sharply higher on low volume, levels to watch
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09:16 EDTGPROeBay adds two independent directors in preparation for PayPal separation
eBay (EBAY) announced the appointment of two new independent directors in anticipation of completing its previously announced separation of eBay and PayPal. Tony Bates, President of GoPro (GPRO), and Gail McGovern, President and CEO of the American Red Cross, have been appointed to eBay Inc.’s board of directors. eBay also announced that current directors William C. Ford and Richard T. Schlosberg, who have served for 10 years and 11 years, respectively, have advised the company that they do not plan to stand for re-election to the board at the 2015 Annual Meeting. With the appointment of Bates and McGovern, eBay's board currently is comprised of 17 directors, 15 of whom are independent. Following the company’s Annual Meeting, which will be held on May 1, eBay’s board will be comprised of 15 directors, 13 of whom will be independent. Additionally, eBay announced that Jonathan Christodoro has been elected to its board as part of the previously announced standstill agreement with Carl Icahn, the company’s largest active shareholder.
08:40 EDTBABAAlibaba to invest 'tens of millions' in Israeli VC firm, Globes says
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08:29 EDTYHOOYahoo's Tumblr to contribute revenues in 2015, says BofA/Merrill
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07:53 EDTYHOOYahoo volatility at low end historic range
Yahoo March weekly call option implied volatility is at 27, April is at 24, May and July is at 27; compared to its 26-week average of 35 according to Track Data, suggesting decreasing price movement.
07:44 EDTYHOOYahoo price target lowered to $61 from $66 at BofA/Merrill
BofA/Merrill lowered Buy rated Yahoo's (YHOO) price target to $61 to reflect a lower valuation for the Alibaba (BABA) stake.
March 20, 2015
07:03 EDTBABAJPMorgan cuts Alibaba numbers but says buy on weakness
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March 19, 2015
13:35 EDTBABABaidu, Alibaba taking opposite approach with maps, WantChinaTimes says
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09:57 EDTBABAAlibaba trades higher, levels to watch
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07:12 EDTBABAAlibaba's 'cooling' towards Snapdeal investment over valuation, BS reports
Alibaba's "cooling" towards an investment in India's Snapdeal as reported yesterday by Re/code is due to differences in valuation, Business Standard reports. Snapdeal is looking to raise $600M at a $6B-$7B valuation while Alibaba is valuing the company at $4B-$5B, according to sources. Reference Link
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