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Stock Market & Financial Investment News

News Breaks
December 14, 2012
10:00 EDTCLWR, ADBE, LEAP, XOM, BP, NOV, WYNN, ENDP, CIEN, ETH, IPAR, NDAQ, EZPW, CMEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BP (BP) downgraded to Neutral from Outperform at Credit Suisse... CME Group (CME) downgraded to Underperform from Market Perform at Keefe Bruyette... Ciena (CIEN) downgraded to Market Perform from Outperform at BMO Capital... Exxon Mobil (XOM) downgraded to Neutral from Buy at Goldman... EZCORP (EZPW) downgraded to Neutral from Buy at Nomura... Endo Health (ENDP) downgraded to Underperform from Hold at Needham... Leap Wireless (LEAP) downgraded to Perform from Outperform at Oppenheimer... NASDAQ (NDAQ) downgraded to Market Perform from Outperform at Keefe Bruyette... Wynn Resorts (WYNN) downgraded to Neutral from Buy at UBS... Ethan Allen (ETH) downgraded to Hold from Buy at Stifel Nicolaus... Adobe (ADBE) downgraded to Neutral from Buy at Janney Capital... Inter Parfums (IPAR) downgraded to Average from Above Average at Caris... National Oilwell (NOV) downgraded to Neutral from Buy at Guggenheim... Clearwire (CLWR) downgraded to Neutral from Buy at Guggenheim.
News For BP;CME;CIEN;XOM;EZPW;ENDP;LEAP;NDAQ;WYNN;ADBE;IPAR;NOV;CLWR;ETH From The Last 14 Days
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June 22, 2015
06:05 EDTADBEAdobe implied volatility of 19 at lower end of index mean range
June 19, 2015
13:38 EDTADBEOptions with decreasing implied volatility
Options with decreasing implied volatility: QIHU PIR RHT BLUE KMX RAD KBH ADBE ACM KR
10:00 EDTBPOn The Fly: Analyst Downgrade Summary
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07:38 EDTWYNNMacau official says monthly revenue could hit four year low, says Wells Fargo
Wells Fargo reports that a Macau official said that the region's gaming revenue may hit the lowest level in over four years this month. The official said that the region's June gambling revenue could be more than 20% below the average for the first five months of this year, the firm added. Wells says that Macau's gaming industry remains challenged, and it remains neutral on the sector. Publicly traded companies in the space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN), and Melco Crown (MPEL).
06:17 EDTBPRoyal Dutch Shell upgraded to Outperform from Sector Perform at RBC Capital
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06:15 EDTBPBP downgraded to Sector Perform from Outperform at RBC Capital
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06:13 EDTBPBP, Rosneft announce exploration and refining agreements
Rosneft and BP announced the signing of "several agreements strengthening the long term strategic relationship between the two companies." Rosneft and BP signed final binding agreements for Rosneft’s sale to BP of a 20% share of Taas-Yuryakh Neftegazodobycha, creating a new joint venture in East Siberia. Rosneft and BP have also agreed jointly to explore two additional Areas of Mutual Interest in the West Siberian and Yenisey-Khatanga basins covering a combined area of about 260,000 square kilometers. Any joint ventures will be owned 51% by Rosneft and 49% by BP. As part of this agreement Rosneft and BP will also form a joint venture to carry out further appraisal work on the 2009 Rosneft-discovered Baikalovskiy field inside the Yenisey-Khatanga AMI. Exploration activities in the two AMIs will include screening studies, acquisition of seismic data, and drilling of exploration wells as new licences are added. As a result of the planned deal Rosneft will double its shareholding in the Bayernoil refinery - to 25% from 12.5%; the MiRO refinery - to 24% from 12%; and the PCK Raffinerie - to 37.5% from 18.75%. BP in exchange will consolidate 100% of the equity of the Gelsenkirchen refinery and the solvent production facility DHC Solvent Chemie. The closing of the deal is subject to the fulfillment of conditions precedent, which include inter alia regulatory approvals.
June 18, 2015
14:37 EDTXOMExxonMobil signs MOU to collaborate on R&D with Korea Institute of Technology
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12:34 EDTXOMOn The Fly: Top stock stories at midday
Stocks on Wall Street opened in positive territory and continued to tack on gains throughout the morning. The move has been broad based, with each of the major averages gaining at least 1%. The move may be reflecting investors feeling a sense of relief following yesterday’s FOMC meeting, after which the central bank repeated its promise to be gradual in raising rates, without specifying when rate "lift-off" will commence. ECONOMIC EVENTS: In the U.S., the consumer prices index rose 0.4% in the month of May, versus expectations for a 0.5% increase. The core reading, which removes food and energy prices, rose 0.1%, versus the expected increase of 0.2%. Initial jobless claims dipped 12,000 to 267,000 in the week ended June 13, versus expectations for 277,000 first-time claims. The Philadelphia Fed manufacturing survey climbed 8.5 points to 15.2 in June, topping expectations for a reading of 8. The leading indicators rose 0.7% to 123.1 in May, topping expectations for a rise of 0.4%. In Europe, International Monetary Fund chief Christine Lagarde reportedly said Greece won’t be given a grace period if it fails to make its scheduled payment to the fund on June 30. Meanwhile, finance ministers of euro area member states are set to meet today, but expectations for progress on Greece are low. Also, the Norwegian central bank cut interest rates to a record low, while the Swiss National Bank kept its deposit rate at record lows as well. In Asia, the Shanghai composite index tumbled 3.7% overnight, doubling its weekly decline to 7.4% and increasing fears that a bubble in the nation's stock market may be preparing to burst. COMPANY NEWS: Shares of enterprise software, hardware and IT services provider Oracle (ORCL) dropped 7% after the company reported lower than expected fourth quarter earnings per share and gave a lower than expected forecast for profit in its new quarter. Analysts at several firms, including Susquehanna, Wells Fargo and Cantor, suggested the post-earnings drop may be a buying opportunity, citing progress in the company's cloud efforts... Fitness tracker maker Fitbit (FIT) surged nearly 50% in its first day of public trading. The company priced its initial public offering at $20 per share, topping expectations, then opened at $30.40 per share, giving it a market value near $6.3B in early trading. Near noon, the stock had pulled back a bit to trade just below $30 per share. MAJOR MOVERS: Among the notable gainers was PBF Energy (PBF), which gained 18% after announcing that its subsidiary has signed a definitive agreement to purchase Chalmette Refining, a joint venture between affiliates of Petroleos de Venezuela and ExxonMobil (XOM). Also higher was BioMarin (BMRN), which rose 13% after the company reported results from a study of BMN-111 in dwarfism and several analysts hiked their price targets on the stock to reflect the increased probability of success for the drug. Among the noteworthy losers following their earnings reports were Bankrate (RATE), which fell 18%, and Jabil Circuit (JBL), which dropped 7%. INDEXES: Near midday, the Dow was up 218.44, or 1.22%, to 18,154.18, the Nasdaq was up 74.96, or 1.48%, to 5,139.84, and the S&P 500 was up 23.57, or 1.12%, to 2,124.01.
11:47 EDTXOMExxon Mobil to sell 50% interest in Chalmette Refining to PBF Energy
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11:36 EDTXOMPBF Energy to acquire Chamlette refinery, related logistics assets for $322M
PBF Energy (PBF) announced that its subsidiary has signed a definitive agreement to purchase Chalmette Refining, LLC, consisting of the 189,000 barrel per day Chalmette Refinery and related logistics assets, from ExxonMobil (XOM) and PDV Chalmette, LLC. With the acquisition PBF will increase its total throughput capacity to over 725,000 barrels per day. The purchase price for the assets is $322M, plus working capital including inventory to be valued at closing. PBF Energy does not expect to issue equity to finance any portion of this transaction. The transaction is expected to be approximately 20% accretive to 2016 consensus earnings in the first year of operation and is expected to close prior to year-end 2015, subject to customary closing conditions and regulatory approvals. The Chalmette Refinery, located outside of New Orleans, Louisiana, is a 189,000 barrel per day, dual-train coking refinery with a Nelson Complexity of 12.7 and is capable of processing both light and heavy crude oil. The facility is strategically positioned on the Gulf Coast with strong logistics connectivity that offers flexible raw material sourcing and product distribution opportunities, including the potential to export products. In addition to refining assets, the transaction includes 100% ownership of the MOEM Pipeline, providing access to the Empire Terminal, as well as the CAM Connection Pipeline, providing access to the LOOP facility through a third party pipeline. The transaction also includes 80% ownership in each of the Collins Pipeline Company and T&M Terminal Company, both located in Collins, Mississippi, which provide a significant clean products outlet for the refinery via the Plantation and Colonial Pipelines. Also included in the transaction are a marine terminal capable of importing waterborne feedstocks and loading or exporting finished products; a clean products truck rack which provides access to local markets; and a crude and product storage facility with approximately 7.5 million barrels of shell capacity. PBF estimates the acquired MLP-qualifying pre-tax earnings from the logistics assets of Chalmette Refining, LLC, to be at least $30M.
11:35 EDTXOMPBF Energy to acquire Chamlette refinery, related logistics assets
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10:33 EDTADBEOptions with decreasing implied volatility
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June 17, 2015
11:24 EDTADBEAdobe CEO sees stability, momentum across all businesses
The Adobe CEO is speaking on CNBC.
10:37 EDTADBEOptions with decreasing implied volatility
Options with decreasing implied volatility: QIHU BOX RH ADBE NLY
09:40 EDTADBEActive equity options trading on open
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09:36 EDTADBEActive equity options trading on open
Active equity options trading on open: AAPL FB AMD ADBE TWTR BABA QIHU NFLX BAC
08:36 EDTADBEShutterstock shares oversold after Adobe offering unveiled, says RBC Capital
After Adobe (ADBE) announced its stock images offering, Adobe Stock, RBC Capital thinks that the pricing of the offering is less worse than feared for Shutterstock (SSTK). The firm reiterates an $86 price target and Outperform rating on Shutterstock.
07:11 EDTADBEWorries about Shutterstock competition overdone, says Cantor
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06:07 EDTADBEAdobe Q2 subscriber adds is what shares needed, says JPMorgan
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