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Stock Market & Financial Investment News

News Breaks
January 22, 2014
10:45 EDTAAPL, BP, GM, MU, CMG, APCBP, Anadarko advance after Einhorn discloses stakes
Shares of BP (BP) and Anadarko (APC), which produce oil and gas, are climbing after David Einhorn's Greenlight Capital disclosed that it had obtained stakes in both companies. WHAT'S NEW: Greenlight Capital, a hedge fund founded by well-known investor David Einhorn, accumulated "medium size" stakes in BP and Anadarko last quarter, Einhorn wrote in a letter to investors dated January 21. Anadarko's stock is cheap compared with its peers, he contended. Noting that the company is involved in a legal battle stemming from its 2006 acquisition of oil and gas assets from Kerr-McGee, Einhorn predicted that Anadarko will have to pay $5 billion in penalties related to the case, rather than the maximum potential damages of $14 billion. As for BP, Einhorn contends that the company is worth $70 per share. As a result, it can create significant value by selling some of its assets and using the proceeds to buy back some of its own stock, he believes. BP has been taking this approach, and the market should begin to appreciate the company more as its legal issues subside, Einhorn wrote. WHAT'S NOTABLE: Greenlight also added a large position in flash memory maker Micron (MU), Einhorn reported. The hedge fund maintained long positions in Apple (AAPL), GM (GM), and Marvell (MRVL), and short positions in Chipotle (CMG) and US Steel (X), Einhorn indicated. PRICE ACTION: In mid-morning trading, BP added about 1.1% to trade near $49, while Anadarko advanced 2.75% to $83.42.
News For BP;APC;MU;AAPL;CMG;GM From The Last 14 Days
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March 15, 2015
18:20 EDTAAPLApple's $17,000 watch looks over-priced, Barron's says
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17:49 EDTBPBP and Egypt in $12B energy deal, Reuters says
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March 13, 2015
18:22 EDTAAPLSalesforce.com CEO Benioff: Analytics cloud can run on Apple watch
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16:42 EDTAAPL, GMStocks end week lower amid euro slide, Fed rate hike worries
Stocks finished the week lower as worries about the impact of the euro's fall against the dollar, along with continued anticipation of an upcoming rate hike by the Fed and concerns about deflation, weighed on shares. MACRO NEWS: The euro's slide against the dollar continued, causing investors to worry that the trend could have a significant negative impact on the results of U.S. based, multinational companies... Anticipation of an impending interest rate hike continued to impact the market. On Tuesday, outgoing Dallas Fed President Richard Fisher said the central bank should begin to gradually raise rates before the economy reaches full employment to avoid triggering a recession. On Thursday, stocks rose as investors speculated that weak February retail sales data could cause the central bank to delay raising interest rates... An unexpected decline in the producer price index, which was reported on Friday, may have rekindled fears about deflation taking hold in the U.S., weighing on stocks... In China, the government said that industrial production rose less than expected in the first two months of the year. China's exports were reported to surge 15% in the first two months of the year versus the same period a year earlier, but data also indicated that China's imports sank 20% in the first two months of 2015. COMPANY NEWS: Apple (AAPL) provided additional information about its upcoming Apple Watch at a product launch event. Apple Watch will be available on Friday, April 24 to customers in nine countries, including the U.S., with pre-orders beginning April 10. The lowest priced Apple Watch, the 38 mm Apple Watch Sport, will be priced at $349, while the 18-karat gold Apple Watch Edition will be priced starting at $10,000... Embattled floor retailer Lumber Liquidators (LL) updated investors on the impact of a recent critical report from 60 Minutes. In the nine days following the report, same-store sales fell 12.7% versus the same period a year earlier, it reported. The company added that it was not able to provide full-year guidance until it has more time to gauge the impact of consumers' reaction to the report... GM (GM) settled a potential proxy battle with an investment group led by Harry Wilson by agreeing to return more cash to shareholders... Alcoa (AA) agreed to buy RTI International Metals (RTI), which supplies specialty metals and services for several sectors, including aerospace and defense... Credit Suisse (CS) appointed Tidjane Thiam, who is currently Group Chief Executive of Prudential (PUK), as its new CEO... The shares of several chicken producers fell after a possible case of bird flu was identified in Arkansas. Among the chicken producers that declined were Tyson (TSN), which is based in Arkansas, Pilgrim's Pride (PPC), Sanderson Farms (SAFM), and Hormel (HRL)... GNC Holdings (GNC) sank after New York's Attorney General announced that he and three of his colleagues would further investigate the business practices of the herbal supplement industry. INDEXES: For the week, the Dow was down 0.57% to 17,749.31, the Nasdaq fell 1.12% to 4,871.76, and the S&P 500 dropped 0.87% to 2,053.40.
16:01 EDTAAPLOptions Update; March 13, 2015
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14:31 EDTAAPLApple hits session lows, levels to watch
The shares are down over 1.2% to $122.85 at time of writing. At that price initial support is at the low of the day at $122.58 and then at $120.17.
11:40 EDTCMGEl Pollo Loco soars after Q4 results top estimates
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11:17 EDTGMGeneral Motors settles suit over death that triggered recalls, Bloomberg says
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10:34 EDTAAPLApple joins data center group with Facebook, Microsoft, The Information says
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10:04 EDTAAPLApple 'well beyond concept stage' for electric car, Apple Insider says
Apple is "well beyond the concept stage" on its electric car codenamed Titan, reports Apple Insider, citing two people with knowledge of the project. The sources said Apple received shipments of components to a site "minutes" away from the Cupertino campus, and "serious work" is underway. Reference Link
09:50 EDTAAPLActive equity options trading on open
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07:00 EDTAAPLNew MacBook to support third-party battery packs, chargers, 9to5Mac says
Apple's forthcoming MacBook will reportedly support "most" USB-C accessories, including external battery packs, third party chargers, external video adapters, and even allowing other Macs to charge the MacBook, reports 9to5Mac, citing sources close to the situation. Sources say Apple will not be blocking or limiting any accessories, opening up the market for third party accessories. Reference Link
06:32 EDTBPIEA says oil price pressure likely to resume, Reuters reports
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06:29 EDTBPOil companies reach tentative agreement with union, WSJ says
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06:23 EDTAAPLApple CEO says 11,000 people have signed up to study using ResearchKit
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06:07 EDTAAPLMillenials not completely sold on the Apple Watch, Re/code says
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06:02 EDTBPBP to sell Australian bitumen business to Puma Energy
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05:54 EDTAAPLReport: MacBook unlikely to exceed 450K in 1H15 sales, DigiTimes says
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05:54 EDTAAPLIDC: Worldwide tablet long term growth in low single digits, Digitimes says
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05:54 EDTAAPLIDC: PC shipments to drop 4.9% in 2015 before improving slightly, DigiTimes says
Worldwide PC shipments is expected to drop 4.9% in 2015, compared to a previous forecast of 3.3%, reports DigiTimes, according to the IDC Worldwide Quarterly PC Tracker. Total 2015 volume is projected at 293.1M PCs, slipping further to 291.4M in 2019. The report also said growth projects for 2016 and 2017 improved slightly. Reference Link
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