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Stock Market & Financial Investment News

News Breaks
June 26, 2014
16:23 EDTMEI, YHOO, BCS, QLTI, IRM, GPRO, AUXL, RDEN, BABAOn 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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May 12, 2015
16:25 EDTYHOOOn The Fly: Top stock stories for Tuesday
Stocks began the session deep in negative territory as bond yields in Europe and the U.S. were moving higher. The market saw its lows shortly after the open and soon began to recapture some of its losses. By noon, the losses were cut in half and the Dow made it all the way back to positive ground by the afternoon. Unable to gather any upside momentum, the rally stalled and the averages limped into the close. ECONOMIC EVENTS: In the U.S., the National Federation of Independent Business' small business optimism rose 1.7 points to 96.9 in April, versus expectations for a 96.0 reading. The JOLTs report showed job openings fell 150K to 4.99M in March, versus expectations for 5.11M openings. The 10-year U.S. Treasury yield climbed at high as 2.37% earlier in the session, which was its highest intraday mark since last November, before easing back by midday. Outside of the U.S., bond yields surged on 10-year notes in Japan, Italy, Spain, Portugal, and Germany. COMPANY NEWS: Shares of AOL (AOL) advanced $7.93, or 18.62%, to $50.52 after Verizon (VZ) agreed to buy the company for $50 per share in a deal valued at $4.4B. Verizon's John Stratton, speaking at the Jefferies 2015 Global TMT Conference, said the AOL deal was primarily about ad technology and Re/code reported that "one scenario" the service has heard about is that Verizon plans to spin off some or all of the content operations it is acquiring by buying AOL, such as the Huffington Post. Yahoo (YHOO) also rose 24c, or 0.55%, to $43.84, as Cantor Fitzgerald analyst Youssef Squali said he now views it as the "last remaining large scale digital media company of its kind." MAJOR MOVERS: Among the notable gainers was Pall Corp. (PLL), which advanced $19.31, or 19.44%, to $118.62 after The Wall Street Journal reported that the company is near a possible sale and listed Danaher (DHR) and Thermo Fisher (TMO) as potential buyers. Also higher was Pain Therapeutics (PTIE), which gained 68c, or 35.05%, to $2.62 after announcing that a study of its lead drug candidate, that is specifically designed to discourage certain common methods of drug tampering and misuse, demonstrated with statistical significance that both intact and chewed Remoxy were less "liked" than immediate-release oxycodone on the two primary endpoints of Drug Liking and Drug High. Among the noteworthy losers was ITT Educational Services (ESI), which plunged $1.75, or 43.53%, to $2.27 after the SEC announced that it had charged the company, along with its CEO and CFO, with fraud. Also lower were shares of NewLink Genetics (NLNK), which dropped $15.59, or 29.9%, to $36.55 after stating that it would continue its flagship IMPRESS trial as planned despite disclosing the FDA did not endorse management's plan to change the statistical analysis plan as defined in the original protocol. INDEXES: The Dow fell 36.94, or 0.2%, to 18,068.23, the Nasdaq slid 17.38, or 0.35%, to 4,976.19, and the S&P 500 dropped 6.21, or 0.29%, to 2,099.12.
12:34 EDTYHOOOn The Fly: Top stock stories at midday
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11:47 EDTYHOOYouTube's engineering head Panchapakesan dies, Re/code reports
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11:14 EDTYHOOAOL premium low but likely best bet for AOL shareholders, Bloomberg says
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10:31 EDTYHOOCantor sees higher bid for AOL unlikely, positive on Yahoo
Cantor Fitzgerald analyst Youssef Squali downgraded AOL (AOL) two notches to Sell from Buy after Verizon (VZ) agreed to acquire the company for $50 per share. Squali finds the takeover valuation "relatively fair" and believes a higher bidder for AOL is unlikely to emerge. The analyst believes the transaction could be positive for Yahoo (YHOO), which he views as the "last remaining large scale digital Media company of its kind." Squali has a Buy rating on Yahoo with a $60 price target.
09:38 EDTBABA, YHOOActive equity options trading on open
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09:14 EDTGPROApps World to hold a conference
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07:48 EDTBCSStandard & Poor's to hold a summit
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07:41 EDTBABAApple CEO says holding talks about Apple Pay with Alibaba, Reuters reports
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06:45 EDTBABAFunds backed by Jack Ma, Pony Ma bought up to $200M in Fosun sale, WSJ says
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06:03 EDTGPROGoPro implied volatility of 49 at lower end of index mean range
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05:44 EDTBABAMeraas signs deal with Alibaba's Aliyun to boost big data services
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05:42 EDTBABACainiao launches there-hour delivery service in five major Chinese cities
Cainiao, the logistics affiliate of Alibaba, unveiled a swift delivery service in five Chinese cities, including Beijing, Shanghai, Guangzhou, Hangzhou and Tianjin, that will deliver products to consumers within three hours after they place their orders. The logistics service will initially cover healthcare products ordered from Tmall.com but will be gradually expanded to cover other product categories. By the end of 2015, Cainiao plans to expand this service to 14 other major cities including Shenzhen, Nanjing, Chongqing, Wuxi, Qingdao, Shenyang and Xi’an, bringing the total number of cities covered by this innovative service to 19. At the initial launch, Cainiao has teamed up with more than 1,500 drugstores from five pharmacy chains that have flagship storefronts on Tmall.com. Two more pharmacy chains will join the scheme in Wuhan and Chengdu in late May.
May 11, 2015
16:25 EDTBABAOn The Fly: Top stock stories for Monday
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16:00 EDTBABAOptions Update; May 11, 2015
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10:35 EDTGPROWellington lowers passive stake in GoPro to 6.27% from 12%
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10:09 EDTIRMHigh option volume stocks
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09:58 EDTBCSBarclays expected to pay GBP2B to settle forex rigging charges, FT says
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06:12 EDTYHOOYahoo implied volatility of 22 at lower end of index mean range
May 10, 2015
16:01 EDTBABAAlibaba buys 9.3% Zulily stake, not pursuing full acquisition, WSJ says
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