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Stock Market & Financial Investment News

News Breaks
January 22, 2014
10:45 EDTGM, MU, CMG, APC, AAPL, BPBP, 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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August 20, 2015
11:00 EDTAPCAnadarko August calls active
Anadarko August 72 and 73.5 calls are active on total call volume of 7K contracts (1K puts) on takeover speculation. August call option implied volatility is at 55, August weekly is at 44, September is at 40; compared to its 52-week range of 22 to 56. Active call volume suggests traders taking positions for large near term price movement.
10:55 EDTAPCRumor: Anadarko moves off lows on renewed takeover speculation
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10:22 EDTAAPLApple falls, levels to watch
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10:00 EDTMUOn The Fly: Analyst Downgrade Summary
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09:36 EDTAAPLActive equity options trading on open
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09:20 EDTMUOn The Fly: Pre-market Movers
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08:45 EDTAAPLApple iPhone 6S may not pressure gross margins, says Bernstein
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07:28 EDTMUBaird downgraded Micron to Neutral on falling DRAM prices
Baird analyst Tristan Gerra downgraded Micron to Neutral from Outperform and lowered his price target to $15 from $36 on DRAM price concerns. Gerra believes blended DRAM pricing could fall 20%+ between now and next year, down to fully loaded costs before capacity cuts take place. The analyst said continued PC unit weakness, soft enterprise server, mobile DRAM weakness, and excess channel inventories are causing the current downturn. Gerra expects Micron's gross margin and earnings to bottom in the February quarter and sees little upside potential until then.
06:13 EDTAAPLApple's Australian bonds raise $1.2B within two hours, SMH reports
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06:10 EDTBPAuction for drilling leases attracts little interest, NY Times reports
A federal auction for drilling leases in the Gulf of Mexico Wednesday attracted only $22.7M in sales from five companies, the lowest since 1986, reports the New York Times. Most companies have insisted they would not sacrifice production in future years, but executives have recently expressed concern that the oil price collapse could last through 2016 and possibly even 2017. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
06:07 EDTAAPLApple's 12.9-inch iPad to feature displays from Sharp, DigiTimes reports
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August 19, 2015
19:13 EDTAAPLSamsung to ask Supreme Court to review Apple patent ruling
Samsung (SSNLF) has filed court documents indicating it will ask the U.S. Supreme Court to hear an appeal of its Apple (AAPL) patent fight. Reference Link
17:44 EDTAAPLApple iPhone 6s to feature stronger metal body, MacRumors says
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16:00 EDTAAPLOptions Update; August 19, 2015
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13:35 EDTGMGM investing C$12M for added Chevrolet Equinox production at Oshawa Assembly
GM Canada president and managing director Steve Carlisle announced that GM will invest C$12M to increase Chevrolet Equinox production on the Consolidated production line at Oshawa Assembly and for related changes in the body shop at CAMI Assembly. This further investment in Ontario-based production and supplier tools will help to meet strong North American customer demand for the Chevrolet Equinox. The investment extends plans for ongoing Oshawa Assembly Consolidated Line production to 2017. GM has invested approximately C$800M in its Oshawa and St. Catharines operations over the past 3 years and recently announced a further $800M investment in its CAMI operation in Ingersoll, Ontario.
11:14 EDTAAPLApple to open first Middle East store this year, Bloomberg reports
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10:00 EDTCMGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Biocept (BIOC) initiated with a Buy at H.C. Wainwright... C.H. Robinson (CHRW) initiated with a Buy at Evercore ISI... Chipotle (CMG) initiated with a Hold at Maxim... Con-way (CNW) initiated with a Buy at Evercore ISI... Dermira (DERM) initiated with an Outperform at Cowen... Expeditors (EXPD) initiated with a Hold at Evercore ISI... Fleetmatics (FLTX) initiated with an In-Line at Imperial Capital... Frontier Communications (FTR) initiated with an Overweight at Stephens... Gevo (GEVO) initiated with a Buy at Rodman & Renshaw... International Game (IGT) initiated with a Sell at Goldman... Knight Transportation (KNX) initiated with a Buy at Evercore ISI... Logitech (LOGI) initiated with a Buy at Rosenblatt... Navistar (NAV) initiated with a Neutral at Macquarie... Panera Bread (PNRA) initiated with a Hold at Maxim... Scientific Games (SGMS) initiated with a Sell at Goldman... Swift Transport (SWFT) initiated with a Hold at Evercore ISI... Tribune Media (TRCO) initiated with an Equal Weight at Morgan Stanley... WEX Inc. (WEX) initiated with an Equal Weight at Barclays... Zoe's Kitchen (ZOES) initiated with a Buy at Maxim.
09:33 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL BAC FB BA TWTR NFLX WMT BABA
07:52 EDTAAPLAnalog Devices growth being driven by Apple, says Jefferies
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06:35 EDTAAPLApple Stores to shift iPod stock to shelves, drop iPad smart signs, 9to5Mac says
Apple plans to make changes at its stores by relocating iPod stock to accessory shelves and removing iPad-based Smart Signs, 9to5Mac reports, citing several Apple Retail managers briefed on the plans. Apple will start to roll out these changes overnight on Tuesday of next week in the U.S., the report says. Reference Link
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