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Stock Market & Financial Investment News

News For BUD;AJG;DB;ERIC;GME;GWAY;ORCL;PCAR;VZ;WMS;WYNN;SMRT;PMCS;TMO From The Last 14 Days
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November 27, 2014
08:13 EDTERICEricsson announces five year agreement with Mobinil
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November 26, 2014
10:12 EDTGMEOptions with decreasing implied volatility
Options with decreasing implied volatility: VNET GME ARWR GMCR SGMS DSW DANG ARUN JMEI MBLY
09:35 EDTWYNNNevada reports October statewide gaming win down 4.26% to $913.64M
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November 25, 2014
11:58 EDTVZVerizon management to meet with Jefferies
Group luncheon to be held in New York on December 2 hosted by Jefferies.
10:25 EDTGMEOptions with decreasing implied volatility
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November 24, 2014
16:09 EDTPMCSPMC-Sierra says selected by Lenovo for ThinkServer portfolio
PMC-Sierra announced that Lenovo has selected PMC storage solutions for external connectivity across its ThinkServer portfolio. The Lenovo 8885E by PMC card delivers the "full throughput of 12Gb/s SAS and 6.6GB/s PCI Express 3.0 to maximize the performance of ThinkServer scale-out storage. The card will be offered on Lenovo rack and tower servers," the company said.
10:38 EDTVZVerizon falls, levels to watch
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10:32 EDTGMEOptions with decreasing implied volatility
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10:11 EDTVZVerizon slips after Citi downgrade on spectrum prices, rising competition
Shares of Verizon (VZ) are falling in early trading after Citigroup downgraded the stock to Neutral from Buy in a note to investors today. WHAT'S NEW: Citigroup analyst Michael Rollins downgraded Verizon, citing the higher than expected price the company will have to pay for wireless spectrum and the increased price competition it is facing. Prices for spectrum currently being auctioned by the FCC are running 36% above Rollins' estimates, the analyst wrote. The higher than expected cost of spectrum implies that the wireless carriers will have higher costs, the analyst explained. Meanwhile, increased competition over consumer prices among the carriers could prevent them from profiting from increased data consumption, Rollins believes. National wireless carriers' outlook for 2015 is unfavorable, warned the analyst, who trimmed his price target on Verizon to $51 from $53. WHAT'S NOTABLE: The total provision winning bids in the AWS-3 auction rose to about $33B after round 26, which was up 3.23% from the prior round, according to data posted to the FCC website on Friday. Companies believed to be bidding in the auction other than Verizon include AT&T (T), T-Mobile (TMUS) and U.S. Cellular (USM). This morning, RBC Capital raised its price target on DISH to $81 from $69, citing the current price points of a spectrum auction. The firm views the price points as a conservative valuation proxy for DISH's AWS-4 spectrum holdings. Analysts at Goldman also raised DISH's price target to $96 from $77 to reflect a higher value for the company's spectrum holdings. PRICE ACTION: In early trading, Verizon fell 2.2% to $49.12, while DISH Network shares rose 3% to $75.86.
10:00 EDTVZOn The Fly: Analyst Downgrade Summary
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09:39 EDTVZActive equity options trading
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09:02 EDTBUDSABMiller to enter Brazilian market, Telegraph says
SABMiller (SBMRY) agreed to a deal with a local Brazilian brewer and will compete against AB InBev (BUD), reports the Telegraph. Reference Link
08:56 EDTERICEricsson, IBM collaborate to research phased-array antenna designs for 5G
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08:54 EDTGMEGameStop outlook still positive, says BB&T
After GameStop reported weaker than expected Q3 results, BB&T continues to be encouraged by strong sales of Mcirosoft's (MSFT) Xbox One and Sony's (SNE) PS4 consoles, as well as GameStop's market share gains. The firm cut its price target on the name to $55 from 460 but keeps a Buy rating.
08:34 EDTORCLJefferies software analysts hold an analyst/industry conference call
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07:53 EDTGMEGameStop removed from SMID-Cap Alpha List at BofA/Merrill
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07:33 EDTPMCSBrean Capital to hold a summit
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06:37 EDTVZVerizon downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Verizon (VZ) to Neutral saying it believes the company's earnings will miss expectations in 2015 due to higher costs of spectrum and slower revenue growth amid rising rate plan competition. Citi lowered its price target for shares to $51 from $53. The firm keeps a Neutral rating on AT&T (T) with a $34 price target.
November 23, 2014
12:26 EDTVZWireless carriers bid up prices at U.S. spectrum auction, WSJ
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November 21, 2014
16:36 EDTGMEMarket ends week higher as domestic data, foreign central banks boost shares
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16:20 EDTGMEOn The Fly: Closing Wrap
Stocks on Wall Street gained after China's central bank cut interest rates for the first time in over two years to bolster its economy. Additionally, the head of Europe's central bank said he was determined to do what is needed to ensure the area's economy does not once again fall into crisis. ECONOMIC EVENTS: In the U.S., the Kansas City Fed manufacturing index for November had a reading of 7, compared to the consensus forecast for a reading of 6. In Asia, the People's Bank of China unexpectedly cut interest rates, slashing the one-year lending rate by 40 basis points and the one-year deposit rate by 25 basis points. The move, which was the central bank's first interest rate cut since 2012, surprised markets around the globe. In Europe, European Central Bank President Mario Draghi said indicators have been declining to levels he would deem "excessively low" and that he is determined to use more aggressive measures, such as large scale asset purchases, as needed. COMPANY NEWS: Microsoft (MSFT) was the worst performer on the Dow after Jefferies initiated coverage of the stock with an Underperform rating. Microsoft's stock has rallied 30% in the last year, but the company is still facing the same fundamental problems as in previous years, Jefferies analyst John DiFucci wrote. He set a $40 price target on the shares, which slipped 74c, or 1.5%, to $47.97. MAJOR MOVERS: Among the notable gainers was Ross Stores (ROST), which advanced $6.06, or 7.28%, to $89.27 after the company reported stronger than expected Q3 results. Also higher were shares of Caterpillar (CAT), which rose $4.36, or 4.27%, to $106.45 amid the quantitative easing actions taken abroad and after research firm Stifel initiated coverage of the stock with a Buy rating. Among the noteworthy losers was GameStop (GME), which sunk $5.68, or 13.05%, to $37.86 after the video game retailer's third quarter results, as well as its fourth quarter and full year profit forecasts, trailed consensus estimates. Also lower were shares of The Gap (GPS), which dropped $1.68, or 4.19%, to $38.46 after the owner of Banana Republic, Old Navy and its namesake clothing brand lowered its fiscal year profit outlook. INDEXES: The Dow rose 91.06, or 0.5%, to 17,810.06, the Nasdaq gained 11.10, or 0.24%, to 4,712.97, and the S&P 500 added 10.75, or 0.52%, to 2,063.50.
16:00 EDTVZProvision winning bids in FCC AWS-3 auction hit $33B after round 26
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13:20 EDTGMEOn The Fly: Midday Wrap
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11:30 EDTGMEGameStop plummets after Q3 results, profit outlook trail analysts' estimates
Shares of video game retailer GameStop (GME) are sinking after reporting third quarter results, as well as its fourth quarter and full year profit forecasts, that trailed analystsí consensus estimates. WHAT'S NEW: GameStop last night reported Q3 adjusted earnings per share of 57c and revenue of $2.09B, trailing analysts' consensus estimates of 61c and $2.2B, respectively. Consolidated comparable store sales dropped 2.3% for the quarter. The company said topline and comparable store sales were negatively impacted by the delayed release of Assassinís Creed Unity. GameStop said new hardware sales increased 147.4% during the quarter, outpacing industry growth of 102.4%. Additionally, GameStop said it reached 47.3% new software market share in Q3. WHATíS NOTABLE: Looking ahead, GameStop forecast adjusted Q4 EPS of $2.08-$2.24, below analysts' estimates of $2.28. GameStop expects Q4 SSS to be down 5% to up 2%. The company cited several titles being moved out of 2014 and the current sales trends of prior generation software for the weak outlook. For FY14, GameStop narrowed its EPS view to $3.40-$3.55 from $3.40-$3.70, trailing analysts' estimates of $3.68. Full year comparable store sales growth is now expected to be up 2%-5%, down from its prior view of 6%-12% growth. ANALYST REACTION: This morning, research firm Telsey Advisory downgraded GameStop to Market Perform given that the previous thesis for a robust new gaming cycle has not materialized. They said soft Q3 results and lowered guidance indicate the gaming cycle is not as strong as previously thought, and lowered their price target on the shares to $45 from $51. Another firm, RW Baird, called GameStop's Q3 results disappointing, citing its accelerating declines in old generation hardware and software sales, reduced guidance and a key title delay. Baird maintained its Outperform rating on GameStop shares, but lowered its price target to $50 from $52. Janney Capital said that GameStop's mobile miss is surprising and disappointing given the iPhone 6 launch and the company's need for mobile growth to break its dependence on the game cycle. Prior-gen software declines have been steeper, pushing out the software inflection beyond Q4, which the firm said is later than expected. However, Janney maintained the value of discs will be more evident and ease concerns as game file sizes increase. The firm maintained its Buy rating on the stock, but lowered its fair value estimate to $45 from $50. PRICE ACTION: In late morning trading, GameStop fell $5.9, or 13.52%, to $37.66 on more than three times its average daily trading volume. Including todayís pullback, the stock has lost approximately 23% over the past twelve months. OTHERS TO WATCH: Other video game retailers include Best Buy (BBY), which is up 1%.
10:26 EDTGMEOptions with decreasing implied volatility
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10:00 EDTGMEOn The Fly: Analyst Downgrade Summary
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08:59 EDTGMEGameStop software inflection coming later than expected, says Janney Capital
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07:53 EDTGMEGameStop Q3 results disappointing, says RW Baird
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06:11 EDTGMEGameStop downgraded to Market Perform from Outperform at Telsey Advisory
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05:57 EDTGMEStocks with implied volatility above IV index mean; DG GME
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05:41 EDTWYNNStocks with implied volatility movement; ARCP WYNN
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November 20, 2014
18:21 EDTGMEOn The Fly: After Hours Movers
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16:53 EDTORCLOracle initiated with a Hold at Jefferies
Target $41.
16:06 EDTGMEGameStop drops 12% to $38.64 after Q3 results miss expectations
16:05 EDTGMEGameStop sees FY14 EPS $3.40-$3.55, consensus $3.68
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16:04 EDTGMEGameStop sees Q4 EPS $2.08-$2.24, consensus $2.28
GameStop said that based on several titles being moved out of 2014 and the current sales trends of prior gen software, it is narrowing its previous guidance. For Q4, GameStop expects comparable store sales to range from down 5.0% to up 2.0%. Diluted earnings per share are expected to range from $2.08-$2.24, consensus $2.28.
16:03 EDTGMEGameStop reports Q3 adjusted EPS 57c, consensus 61c
Reports Q3 revenue $2.09B, consensus $2.2B. Consolidated comparable store sales dropped 2.3%. GME said topline and comparable store sales were negatively impacted by the delayed release of Assassinís Creed Unity.
15:28 EDTGMENotable companies reporting after market close
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15:20 EDTGMEGameStop technical comments ahead of results
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14:54 EDTWYNNWynn Resorts probed by several agencies on money laundering controls, WSJ says
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14:42 EDTWYNNWynn Resorts probed by IRS over money-laundering controls, DJ says
Dow Jones cites sources on Wynn being probed and notes that the company said it is not aware of any investigation.
08:09 EDTSMRTStein Mart expects to open 10 new stores in FY15
08:09 EDTSMRTStein Mart sees FY14 gross profit rate to be slightly higher than 29.1%
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08:07 EDTSMRTStein Mart reports Q3 adjusted EPS 2c, consensus 1c
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07:19 EDTGMEGameStop November volatility elevated into Q3 and outlook
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07:11 EDTORCLBofA/Merrill to hold a conference
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06:35 EDTGMEStocks with implied volatility above IV index mean; BBY GME
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November 19, 2014
20:12 EDTBUDAB InBev cutting jobs, consolidating sales division in U.S., WSJ reports
Anheuser-Busch InBev confirmed in a statement that it is cutting jobs and consolidating its sales division in the U.S., according to the Wall Street Journal, but declined to specify how many jobs are being cut. Reference Link
15:02 EDTAJGArthur J. Gallagher acquires Miller-Harrison Insurance Services
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13:24 EDTGMEGameStop November volatility elevated into Q3 and outlook
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13:10 EDTVZDISH, Globalstar climb as wireless spectrum bids reportedly jump
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10:47 EDTGMEStocks with call strike movement; GME GMCR
GameStop (GME) December 55 call option implied volatility increased 4% to 55, Green Mountain (GMCR) December 185 call option implied volatility increased 3% to 54 according to IVolatility.
08:44 EDTGMEGameStop Q3 results should be solid, holiday sales the focus, says RW Baird
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07:51 EDTDBClearing House Payments Company to hold a conference
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07:50 EDTVZVerizon trends look strong, says Oppenheimer
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07:35 EDTGMEGameStop November volatility elevated into Q3 and outlook
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07:19 EDTVZSpectrum auction positive for DISH, Globalstar, says JPMorgan
JPMorgan notes the AWS-3 spectrum auction continued on Tuesday with the aggregate value of licenses with bids at $16.4B, up from Monday's $8.9B and compared to the reserve price of $10.6B that the FCC set for the entire auction. The firm views the rise in prices as negative for telecom carriers that are spending more than expected, namely AT&T (T) and Verizon (VZ), and possibly T-Mobile (TMUS) and US Cellular. It views the prices as positive for independent spectrum owners like DISH (DISH) and Globalstar (GSAT), as well as tower companies American Tower (AMT), SBA Communications (SBAC) and Crown Castle (CCI).
November 18, 2014
08:36 EDTAJGGallagher Bassett Services contract to move to run-off status
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07:40 EDTDBDeutsche Bank to exit most individual company CDS trading, Bloomberg reports
A Deutsche Bank spokeswoman confirmed the bank will stop trading most credit-default swaps tied to individual companies, citing the higher costs from new banking regulations, reported Bloomberg, which noted that the bank plans to maintain trading in the more active market for credit swaps tied to benchmark indexes. Reference Link
07:00 EDTDBDeutsche Bank looking to sell further AT1 bonds, Reuters reports
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06:34 EDTDBDraghi sees positive signs in euro zone, NY Times reports
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05:55 EDTGMEStocks with implied volatility above IV index mean; GME LULU
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November 17, 2014
16:51 EDTWMSAdvanced Drainage files to sell 10M shares of common stock for holders
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10:54 EDTTMOThermo Fisher management to meet with ISI Group
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08:28 EDTGMEGameStop Q3 results should be at high end of guidance, says Wedbush
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07:08 EDTGMEGameStop November volatility elevated into Q3 and outlook
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06:05 EDTGMEStocks with implied volatility above IV index mean; GME LULU
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November 14, 2014
17:27 EDTTMOPaulson & Co. gives quarterly update on stakes
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11:31 EDTAJGArthur J. Gallagher acquires The Titan Group
Arthur J. Gallagher & Co. announced the acquisition of The Titan Group, located in Richmond, Virginia. Terms of the transaction were not disclosed. Founded in 2001, Titan provides human resource consulting services for private, public, nonprofit, education and state government clients throughout the Eastern United States.
11:28 EDTGMEStocks with call strike movement; RIG GME
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10:03 EDTDBHigh option volume stocks
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09:05 EDTGMENPD says U.S. video game sales down 27% in October, Bloomberg reports
U.S. retail sales of video-game hardware and software in October were nearly flat compared to the same month of last year at $790.7M, according to NPD Group, which noted that game sales fell 27% and hardware sales increased 59%, reported Bloomberg. Publicly traded companies in the space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO). Game console makers include Microsoft (MSFT), Sony (SNE) and Nintendo (NTDOY). Reference Link
07:47 EDTBUDAB InBev CEO says willing to deal but only at right price, Bloomberg reports
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06:12 EDTORCLSAP to pay Oracle $359M to settle legal battle, WSJ reports
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05:52 EDTGMEOctober NPD video game software sales fell 27%, says Piper Jaffray
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November 13, 2014
14:05 EDTWYNNNew Jersey reports Atlantic City gaming win down 4.4% to $207.23M
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08:56 EDTWYNNMacau to ask for eased restrictions on RMB conversion, Macau Business Daily says
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08:08 EDTERICEricsson sees reducing costs by SEK 9B with restructuring cost SEK 3B-4B
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08:06 EDTERICEricsson targets growth faster than TAM 3%-5% CAGR over 2013-2017
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07:52 EDTVZVerizon plans to cut 1K jobs via buyouts, Bloomberg says
Verizon plans to cut about 1,000 jobs, which would represent less than 1% of its workforce, through buyout offers by the end of the year, according to Bloomberg, citing a person with knowledge of the plan. Reference Link
07:24 EDTGMEGameStop November volatility elevated into Q3 and outlook
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07:15 EDTGMEGameStop board authorizes $500M share repurchase program
GameStop said in a filing yesterday that on November 11, its Board of Directors approved a cash dividend to its stockholders. The quarterly dividend of 33c per share of Class A Common Stock will be paid on December 16, 2014 to stockholders of record on the close of business on November 25, 2014. Additionally, GameStop Corp. announced that its Board of Directors has authorized $500M of funds to be used in the companyís share repurchase plan. This new authorization replaces the $500M stock repurchase plan announced in November 2013, which had approximately $176.4M remaining at the time of the new authorization.
07:12 EDTORCLOracle to hold a meeting
2014 OAGi Plenary Meeting is being held in Redwood City, California on November 13-14.
06:04 EDTGMEStocks with implied volatility above IV index mean; GME LULU
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