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Stock Market & Financial Investment News

News Breaks
March 20, 2012
16:16 EDTAZN, STP, NSRGY, TRGT, YGE, MYGN, TSL, RIO, BHP, TIFOn The Fly: Closing Wrap
Stocks on Wall Street were lower on concerns of slowing growth in China. The futures barely reacted to February U.S. housing data, which showed starts were lower than expected but building permits were higher. The futures action led to a lower open for the broader market. The averages found a level in the first 30 minutes of trading where they sat and eventually began to drift higher. The market moved generally higher until the last hour of the session but the averages were never able to retake the baseline to continue their six day winning streak... ECONOMIC EVENTS: In the U.S., homebuilders began construction on a seasonally adjusted annual rate of 698,000 homes in February, down 1.1% from a month ago. Building permits jumped 5.1%, versus expectations for an increase of 0.6%. In China, a report said that home prices dropped in 45 Chinese cities last month and the country increased its gas and diesel prices for the second time in less than six weeks... MARKET NEWS: BHP Billiton (BHP) was widely quoted as stating that Chinese iron ore demand growth was "flattening," but the company came out and said that the slowdown had been discussed before and was not new information. Also, both BHP and rival Rio Tinto (RIO) confirmed plans to expand production in China even further. Still, BHP's confirmation along with other signals of a slowdown in China was attributed as a significant catalyst for today's market pull-back... Saudi Arabia said it is ready to meet any shortfalls in global oil supplies which, along with China's news, caused oil prices to fall 2%, weighing on the Energy sector of the S&P... Amazon.com (AMZN) moved up 3.67% following its $775M purchase of Kiva Systems, a maker of robots and other material handling technology... MAJOR MOVERS: Among the notable gainers was Tiffany (TIF), up $4.59, or 6.68%, to $73.27, after its earnings missed expectations but its FY12 guidance beat the Street's view. Also higher were a number of Chinese solar companies, including Yingli Green Energy (YGE), up 46c, or 12.07%, to $4.27, Suntech (STP), up 44c, or 14.06%, to $3.57, and Trina Solar (TSL), up 61c, or 7.85%, to $8.38, following the U.S. Commerce Department's decision to impose tariffs of less than 5% on the companies, which was well below the 20% to 30% that was forecast by some analysts. Noteworthy losers included Targacept (TRGT), down $2.22, or 29.96%, to $5.19, after it abandoned plans to seek approval for a depression drug it was developing in partnership with AstraZeneca (AZN), and Myriad Genetics (MYGN), down $1.33, or 5.19%, to $24.31, after the Supreme Court ruled that two patents held by Nestle (NSRGY) for certain personalized medicine products are invalid because the patents utilize "laws of nature" without adding significant additional features to those laws... INDICES: The Dow fell 68.94, or 0.52%, to 13,170.19; the Nasdaq lost 4.17, or 0.14%, to 3,074.15; and the S&P 500 dropped 4.23, or 0.30%, to 1,405.52.
News For BHP;RIO;TIF;YGE;STP;TSL;TRGT;AZN;MYGN;NSRGY From The Last 14 Days
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April 16, 2015
08:31 EDTTRGTTargacept says TC-6499 did not meet primary endpoint in Phase 1/2 study
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07:58 EDTAZNAstraZeneca's MedImmune, Immunocore announce new collaboration agreement
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07:45 EDTTSLTrina Solar management to meet with Deutsche Bank
Meeting to be held in New York on April 16 hosted by Deutsche Bank.
05:55 EDTTIFCoach upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Joan Payson upgraded Coach to Overweight citing greater confidence in the designer's ability to grow domestic store comps with its turnaround "well underway." She expects Coach's competitive pressures to ease and raised her price target for shares to $50 from $38. The maker of handbags closed yesterday down 28c to $41.76. Payson also lowered her price target for shares of Michael Kors (KORS) to $60 from $70 and keeps an Equal Weight rating on the name. She believes Kors may soon be in need of transformation. The analyst keeps an Equal Weight rating on Tiffany (TIF), calling the company a "work in progress."
05:47 EDTBHPBHP Billiton downgraded to Neutral from Conviction Buy at Goldman
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April 15, 2015
11:50 EDTAZNAstraZeneca initiated with a Buy at Societe Generale
07:41 EDTAZNEBD Group to hold a forum
ChinaBio Partnering Forum 2015 is being held in Shanghai, China on April 15-16.
06:52 EDTYGE, TSLJapanese judge blocks relaunch of nuclear plants, NY Times says
A Japanese judge yesterday blocked the country's government from restarting two nuclear power plants, according to The New York Times. None of Japan's 48 reactors has been operating since the Fukushima disaster, and the judge's decision is potentially significant because it directly challenges the government's new nuclear safety standards, the newspaper stated, adding that the two affected reactors may not reopen for months or even years. Cameco (CCJ) develops uranium used by nuclear plants. Solar energy companies whose products may be used to supplement nuclear power in Japan include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). Reference Link
April 14, 2015
15:10 EDTTIFTiffany has negative read through from China visa changes, says Macquarie
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12:06 EDTAZNFDA panel accepts Onglyza's safety profile in 13-1 vote
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07:15 EDTAZNFDA Endocrinologic & Metabolic Drugs Advisory Committee holds a meeting
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06:51 EDTNSRGYNestle in advanced talks to sell Davigel unit to Brakes Group, Reuters reports
Nestle is in advanced discussions for the sale of its Davigel frozen food group to Bain Capital's Brakes Group, Reuters reports, citing a source. A second source says the sale of the deal, which is being handled by Credit Suisse, could raise EUR200M-EUR300M. Reference Link
April 13, 2015
13:59 EDTTSL, YGEChina looking to deploy solar power station in space, Business Insider says
China intends to deploy a solar power station in space in 2020, according to Business Insider. Expected to orbit Earth, the station is supposed to utilize over six square kilometers of solar panels, the website stated. However, a few logistical problems must be solved, including the fact that current rockets do not have nearly enough power to propel a station of that magnitude into space, Business Insider added. Publicly traded Chinese solar companies include Canadian Solar (CSIQ), JA Solar (JASO), Trina Solar (TSL) and Yingli Green Energy (YGE). Reference Link
10:00 EDTRIO, BHPOn The Fly: Analyst Downgrade Summary
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08:58 EDTAZNMerck may have positive read through from briefing docs, says SunTrust
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08:54 EDTAZNAstraZeneca has negative read through from briefing docs, says SunTrust
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08:07 EDTRIORio Tinto management to meet with JPMorgan
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07:01 EDTTSLTrina Solar to supply 116 MW modules to Japan solar power plant
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05:35 EDTBHPBHP Billiton downgraded to Neutral from Buy at Citigroup
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05:33 EDTRIORio Tinto downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Rio Tinto to Neutral after lowering its iron ore price expectations.
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