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Stock Market & Financial Investment News

News Breaks
August 13, 2013
18:55 EDTBRCD, NTI, SEAS, MM, XONE, GT, RSH, EOG, PXD, MXC, MYGN, PMTOn The Fly: After Hours Movers
UP AFTER EARNINGS: Brocade (BRCD), up 15.9%... Myriad Genetics (MYGN), up 1.9%. ALSO HIGHER: Mexco Energy (MXC), up 26% after announcing agreements with Pioneer Natural Resources (PXD) and EOG Resources (EOG)... RadioShack (RSH), up 3.2% after Reuters reported the company is looking to refinance its debt with new, lower-cost loans... Goodyear Tire (GT), up 1.7% after Appaloosa filed an increased stake in the company. DOWN AFTER EARNINGS: ExOne (XONE), down 13%... Millennial Media (MM), down 11.6%... SeaWorld (SEAS), down 11%. ALSO LOWER: Northern Tier (NTI), down 4.5% after announcing an offering of 11.5M common units for a unitholder... PennyMac (PMT), down 3.5% after filing to sell 11.3M shares of common stock.
News For BRCD;MYGN;MXC;PXD;EOG;RSH;GT;XONE;MM;SEAS;NTI;PMT From The Last 14 Days
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August 26, 2014
12:02 EDTRSHStandard General to explore rescue funds for RadioShack, Bloomberg says
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11:12 EDTBRCDHigh option volume stocks
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11:09 EDTRSHBest Buy shares decline as Best Buy reports Q2 sales drop
Shares of multi-channel Best Buy (BBY) are retreating after the firm reported that sales declines continued through the second quarter. WHAT'S NEW: Best Buy's Q2 earnings per share from continuing operations was 44c, exceeding analysts' consensus estimates of 31c. The company's Q2 revenue was $8.9B, which was slightly lower than analysts' $8.99B consensus. Same-store-sales for the quarter declined 2.7%, which is better than the overall industry sales decline of 2.5% as reported by NPD. Best Buy Chief Executive Officer Hubert Joly noted that traffic to the company's brick and mortar stores continued to decline as consumers research and buy online. Joly noted that in-store conversion and online traffic continued to increase during the quarter. Joly said that in the back half of the year, the retailer plans to intensify its investments in customer-facing initiatives. Chief Financial Officer and Chief Administrative Officer Sharon McCollam reiterated that industry-wide sales are continuing to decline in many of the consumer electronics cateogries in which it competes, and said the retailer is seeing "ongoing softness" in the mobile phone category ahead of new product launches. She forecast SSS down in the low single digits for both the third and fourth quarters and sees Q3 and Q4 operating income in line with the first half of the year. For the back half of the year, McCollam sees continued industry softness and higher promotionality in Canada and China. WHAT'S NOTABLE: During the company's conference call, Best Buy said that it is "encouraged" by the response to 4K televisions and aims to expand its holiday gift centers within stores. The company's CFO McCollam said that the firm's mobile phone category is "complicated to forecast." She feels that the disruption of carriers "could have impact" that the technology retailer did not anticipate. McCollam said that despite great excitement for some high-profile phone launches, there is still a great deal of competition in the lower-end of the phone market. In terms of the start of the upcoming quarter, Best Buy feels that the beginning has been "in-line" with expectations. ANALYST OPINION: ISI analyst Greg Melich feels that Best Buy's Q2 EPS beat was due to a slightly less dramatic decrease in gross margins and improved cost controls. He feels that the market is likely to pay close attention to continued sales decreases when predicting the rest of the year despite the better than anticipated quarterly EPS results. Melich said that he will keep an eye out for positive signs that Q4 will experience an improvement given the highly promotional and competitive landscape last year. The analyst keeps the stock with a neutral rating and a $31.99 price target. PRICE ACTION: In morning trading, Best Buy fell $1.59, or 4.97%, to $30.40. OTHERS TO WATCH: Best Buy peers include RadioShack (RSH) and hhgregg (HGG).
August 25, 2014
16:04 EDTMMCriteo names Mollie Spilman as Chief Revenue Officer
Criteo (CRTO) appointed Mollie Spilman as Chief Revenue Officer. Spilman will lead all commercial operations globally reporting to CEO Eric Eichmann and will be based in the New York office. Mollie joins Criteo from Millennial Media (MM) where she served as EVP, Global Sales and Operations. Prior to this she was CMO at Yahoo! (YHOO).
August 22, 2014
12:20 EDTSEASOn The Fly: Midday Wrap
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10:19 EDTSEASSeaWorld jumps after analyst says animal concerns will abate
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10:04 EDTSEASHigh option volume stocks: DYN SEAS FL ROST ZION
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10:01 EDTSEASOn The Fly: Analyst Upgrade Summary
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08:30 EDTSEASSeaWorld upgraded to Outperform from Market Perform at FBR Capital
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07:49 EDTSEASSeaWorld upgraded to Outperform from Market Perform at FBR Capital
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06:20 EDTBRCDOptions expected to be active
Options expected to be active: GME ARO CRM INTU TFM MRVL ROST BRCD
August 21, 2014
16:14 EDTBRCDBrocade initiates quarterly dividend of 3.5c per share
Brocade's board declared a quarterly cash dividend of 3.5c per share of the company’s common stock. The dividend payment will be made on October 2, to stockholders of record at the close of market on September 10. The company said, "As a result of our positive operating performance, we generated strong cash flow in the quarter and made good progress in returning cash to our shareholders. We paid the company’s first dividend and repurchased nearly 13 million shares of common stock. Through the first three quarters of FY14 we have returned more than 80% of adjusted free cash flow to shareholders."
16:06 EDTBRCDBrocade sees Q4 EPS 21c-23c, consensus 22c
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16:04 EDTBRCDBrocade reports Q3 EPS 23c, consensus 19c
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15:15 EDTBRCDNotable companies reporting after market close
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August 20, 2014
10:18 EDTBRCDBrocade volatility increases into Q3 and outlook
Brocade September call option implied volatility is at 34, October is at 30, January is at 29; compared to its 26-week average of 32 according to Track Data, suggesting non-directional price movement into the expected release of Q3 results on August 21.
09:36 EDTEOGActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL FOLD TSLA TWTR WHX FB TM NFLX X EOG
06:29 EDTSEASPETA buys more SeaWorld shares to be able to ask questions
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06:00 EDTSEASStocks with implied volatility below IV index mean; SEAS WAG
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August 19, 2014
06:01 EDTSEASStocks with implied volatility below IV index mean; SEAS WAG
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