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Stock Market & Financial Investment News

News Breaks
April 2, 2013
16:29 EDTAAPL, GM, BGCP, HTZ, HMC, F, OMPI, TM, NDAQ, DALOn The Fly: Closing Wrap
Stocks on Wall Street were higher, with the Dow and S&P both closing at fresh all-time highs. The averages opened higher and firmed following roughly in-line domestic data on factory orders. The U.S. report contrasted with continued weakening in European data, as Germany's PMI indicated contraction in the zone's largest economy... ECONOMIC EVENTS: In the U.S., the Commerce Department said factory orders rose 3% in February, which was a bit ahead of economists' forecast for an increase of 2.9%. In Europe, the euro zone jobless rate was stable at 12.0% in February, though the number of unemployed in the zone rose to the highest level on record at about 19.1M. Also, the purchasing managersí index for the zone fell to 46.8 in March from 47.9 in February. In Asia, Japan's Prime Minister warned that a 2% inflation target pursued by the new head of its central bank may be difficult to reach... COMPANY NEWS: Shares of BGC Partners (BGCP) gained $1.87, or 48.57%, to $5.72 after the company agreed to sell its eSpeed treasury trading platform to Nasdaq OMX Group (NDAQ) in a cash-and-stock deal valued at as much as $1.23B. Nasdaq shares lost $4.10, or 12.81%, to $27.91 following the deal announcement... Carmakers reported March sales and General Motors (GM) and Ford (F) both posted U.S. sales gains of nearly 6% for March. Japanese manufacturers also reported higher March sales, with Toyota (TM) reporting a 1% increase in U.S. sales and Honda (HMC) reporting U.S. sales increased over 7%... Apple (AAPL) shares were active during the session, as a midday report from The Wall Street Journal said the company will begin production of a new iPhone in Q2 but that it will be similar in size and shape to the iPhone 5. Apple shares, which had been trading higher, moved lower following the report and closed up 99c, or 0.23%, at $429.90... MAJOR MOVERS: Among the notable gainers was Obagi Medical (OMPI), up $3.17, or 16.08%, to $22.88 after Merz Pharma made an unsolicited proposal to acquire the company for $22 per share. Also higher were shares of Hertz Global (HTZ), up $1.50, or 6.85%, to $23.41 after the company affirmed its fiscal year 2013 earnings and revenue view and provided guidance for fiscal year 2015. Among the noteworthy losers was Delta (DAL), down $1.31, or 8.06%, to $14.94 after the company reported March operating performance and said it sees Q1 revenue up 4%-4.5% against a year ago... INDICES: The Dow was up 89.16, or 0.61%, to 14,662.01; the Nasdaq was up 15.69, or 0.48%, to 3,254.86; and the S&P 500 was up 8.08, or 0.52%, to 1,570.25.
News For BGCP;NDAQ;F;GM;TM;HMC;AAPL;OMPI;HTZ;DAL From The Last 14 Days
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February 23, 2015
06:21 EDTAAPLFacebook's shuttle drivers approve new union contract, WSJ reports
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06:04 EDTAAPLApple to publicly beta test iOS update, Re/code says
Apple plans to allow consumers to test the next update for its iOS mobile operating system, reports Re/code. The beta test will be available mid-March through the company's Apple Seed program. Reference Link
06:03 EDTHMCHonda says Takanobu Ito to step down as CEO, Takahiro Hachigo named new CEO
Takanobu Ito is stepping down as president and CEO of Honda, the company announced in a press release. Takahiro Hachigo, Honda's managing officer, will take over as president and CEO in June.
05:29 EDTAAPLApple to invest EUR 1.6B in new European data centers
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05:27 EDTAAPLApple to invest EUR 1.6B in new European data centers
February 22, 2015
17:11 EDTAAPLApple could reach $160 in a year, Barron's says
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15:11 EDTAAPLApple increases capabilities in industrial lithium-ion batteries, Reuters says
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14:20 EDTGMUAW chief says GM buyback proposal too much, premature, Reuters says
Dennis Williams, the president of the UAW, said that an investor groupís proposal that GM buy back $8B of its stock is premature, and the amount too high for the companyís long-term health, says Reuters. The UAW indirectly controls the largest single block of General Motors shares, added Reuters. Reference Link
February 20, 2015
16:48 EDTAAPLDow, S&P 500 finish week at record highs after Greek deal reached
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16:03 EDTAAPLOptions Update; February 20, 2015
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11:02 EDTAAPLApple electric car could be 'iPhone of the Future,' says Cantor
Cantor Fitzgerald analyst Brian White says he believes an electric car from Apple has the potential to be the "iPhone of the Future." White, in a note to investors today, added that he doubts Apple's reach will stop there. He believes the personal robot category offers "great potential over the next decade and fits well with Apple's skill set." White thinks the reports of an electric car show innovation at the tech giant continues. He keeps a Buy rating Apple shares with a $160 price target. The stock is up 30c it morning trading to $128.71.
11:00 EDTAAPLApple electric car could be 'iPhone of the Future,' sys Cantor
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09:38 EDTAAPLActive equity options trading on open
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08:11 EDTGMAlly CEO exploring subprime lending, sees loss of GM business, Detroit News says
Ally (ALLY) CEO Jeffrey Brown stated in a Thursday interview with The Detroit News that the company may return to offering credit cards and home mortgages, and currently plans to expand auto lending to subprime customers. The CEO said he expects to decide within 30-60 days whether Ally will consolidate its five locations to a single headquarters in the Detroit suburbs. Brown added that he expects GM (GM) to shift its $4.1B subsidized leasing program for Chevrolet from Ally to GM Financial, which the Ally CEO wants to offset by increasing subprime lending from 9% of total lending to 12%-15%. Reference Link
07:30 EDTHMCHonda cuts production by another 5,000 due to U.S. port strikes, Reuters says
Honda Motor Co stated it will lower production at two factories in Indiana and Canada from February 24 to March 2 due to a parts shortage brought on by continuing U.S. port strikes, reports Reuters, citing a Honda spokesperson. Total output loss for the two factories -- which mainly produce Civics -- will be roughly 5,000 cars, while total output loss for the company from February 16 to 23 will be roughly 20,000 cars. The spokesperson said supply will be "a little bit better next week" due to air deliveries. Reference Link
07:04 EDTGMAlly CEO assuming company will lose all of GM's leasing business, Reuters says
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06:41 EDTGM, AAPLApple pushing for 2020 production of its electric car, Bloomberg says
Apple (AAPL) is pushing to begin production of its electric vehicle as soon as 2020, reports Bloomberg, citing people with knowledge of the matter. Bloomberg notes that the move could put Apple into direct competition with Tesla (TSLA) and General Motors (GM), both of which are targeting a 2017 release for next-generation electric vehicles. Apple may still cancel the project if it becomes unhappy with progress, the sources said, though its vehicle team is already 200-people strong. Reference Link
06:20 EDTAAPLApple price target raised to $145 on increasingly bullish outlook at Goldman
Goldman raised Buy rated Apple's price target to $145 from $130 based on increased confidence in platform momentum, sustained iPhone growth, and the potential for the Apple Watch. The firm believes risk/reward is more balanced following the recent 20% upside move but sees further upside given the aforementioned factors and the near-term catalysts from the April watch launch, updates on capital allocation, and a likely March quarter beat.
06:07 EDTBGCPBGC Partners, GFI Group reach agreement, GFI board supports BGC offer
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06:06 EDTGMGeneral Motors names Craig Glidden as new general counsel
General Motors (GM) announced yesterday that Craig B. Glidden has been appointed executive VP and general counsel, effective March 1. Glidden will lead a team of staff attorneys who are integrated into all of GMís regional and functional teams in more than 30 countries. Glidden succeeds Michael Millikin, who is retiring in July after a nearly four-decade legal career, including five years as GMís general counsel. Before joining GM, Glidden was executive VP and chief legal officer for LyondellBasell Industries (LYB).
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