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Stock Market & Financial Investment News

News Breaks
June 26, 2014
16:23 EDTQLTI, IRM, GPRO, AUXL, RDEN, BABA, MEI, YHOO, BCSOn 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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July 15, 2015
13:03 EDTYHOOGannett names Kevin Gentzel chief revenue officer
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09:09 EDTIRMIron Mountain to participate in a conference call with Jefferies
Iron Mountain President & CEO William Meaney participates in a Q&A session on a conference call being held on July 20 at 10 am hosted by Jefferies Business Services Analyst Dan Dolev.
07:44 EDTBCSBarclays' Rake to step down from board to join WorldPay, Bloomberg reports
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07:30 EDTYHOOYahoo price target lowered to $50 from $59 at SunTrust
SunTrust cut its price target on Yahoo, as the firm says that some investors are starting to evaluate the company based on the performance of its core business. Three years into CEO Marissa Mayer's tenure, SunTrust says her results are "mixed," and gives her a grade of C. SunTrust says the company has had its share of accomplishments in the last three years but still faces many core challenges. It thinks the company's Q2 revenue could miss expectations but keeps a Buy rating based on valuation.
July 14, 2015
17:11 EDTYHOOMicrosoft M&A chief says Salesforce sale 'depends on' Benioff, Fortune reports
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16:01 EDTBABAOptions Update; July 14, 2015
iPath S&P 500 VIX Short-Term Futures down 15c to 17.76 Option volume leaders: AAPL FB BAC T AMZN BABA INTC JPM LVS AAL CHK MSFT NFLX TSLA TWTR MPC
11:24 EDTYHOOYahoo VP Eric Lange leaves company to join Flipkart, CNBC reports
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10:01 EDTGPROOn The Fly: Analyst Upgrade Summary
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09:46 EDTGPROGoPro rallies sharply, levels to watch
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09:35 EDTBABAActive equity options trading on open
Active equity options trading on open: AAPL FB BAC T AMZN BABA INTC JPM LVS AAL CHK MSFT
09:20 EDTGPROOn The Fly: Pre-market Movers
HIGHER: Natural Health Trends Corp. (NHTC), up 16.2% following second quarter guidance... Transgenomic (TBIO), up 14% after launching genetic test for Leukodystrophy diagnosis... Biocept (BIOC), up 12.4% after launching diagnostic assay for BRAF mutations in melanoma patients... Micron (MU), up 13.1% after WSJ reports that Tsinghua made $23B acquisition offer... SanDisk (SNDK) and AMD (AMD) are up 3.8% and 3.1%, respectively, following reports of Tsinghua offer to Micron... GoPro (GPRO), up 3.2% after being upgraded to Overweight from Equal Weight at Barclays. DOWN AFTER EARNINGS: Wells Fargo (WFC), down 1%... JPMorgan (JPM), down fractionally. ALSO LOWER: Vince Holding (VNCE), down 16.3% after being downgraded to Market Perform from Outperform at William Blair... Tonix Pharmaceuticals (TNXP), down 8.3% after 2.3M share Spot Secondary priced at $7.50... Spirit Airlines (SAVE), down 7.4% after pricing pressure leads to reduced fiscal 2015 margin view... Orbitz Worldwide (OWW), down 2.8% after being downgraded to Sell from Neutral at UBS.
09:17 EDTYHOOYahoo fantasy sports could add $80M to 2016 sales, says Citi
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08:29 EDTIRMIron Mountain says 'confident' of satisfactory regulatory review of Recall deal
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08:26 EDTIRMIron Mountain says transformation program 'well on track'
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08:00 EDTGPROAmazon, GoPro advance after analysts up ratings to buy
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05:36 EDTGPROBarclays upgrades GoPro to buy on progress since IPO
Barclays analyst Joseph Wolf upgraded GoPro to Overweight from Equal Weight saying the company's progress since going public has reduced his concerns "considerably." Overweight is his firm's equivalent of a buy rating. In a note to investors this morning, Wolf highlights the action camera maker's "solid" execution, acquisitions and continued brand strength. GoPro's total addressable market is expanding both demographically and geographically, while expectations for the new Hero4 and upcoming drone are reasonable, Wolf writes. He raised his price target for shares to $65 from $50. GoPro closed yesterday down 40c to $52.11.
05:30 EDTGPROGoPro upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Joseph Wolf upgraded GoPro to Overweight saying the company's progress since going public has reduced his concerns "considerably." Wolf highlights the action camera maker's "solid" execution, acquisitions and continued brand strength. He raised his price target for shares to $65 from $50. GoPro closed yesterday down 40c to $52.11.
July 13, 2015
10:41 EDTBABAOptions with increasing implied volatility
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10:34 EDTGPROFitbit gets mixed welcome as analysts roll out coverage
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08:19 EDTIRMIron Mountain management to meet with JPMorgan
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