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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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May 5, 2015
15:02 EDTBUDNotable companies reporting before tomorrow's open
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15:00 EDTAJGArthur J. Gallagher acquires Vital Benefits, terms undisclosed
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14:42 EDTBUDAB InBev technical comments ahead of earnings
The primary feature of note on the chart is an active double top pattern which has minimum downside potential to the $112 area. That level is close to the bullish gap up in price back in January. If the news is bearish, the pattern may complete. Additional downside levels to watch below $112 on a negative surprise would be at $109.71 and $107.18. If the news is more bullish than traders appear to expect, the first significant resistance level would be at $123.48. Thereafter additional resistance levels would be at $125.57 and $128.35, which is the 52-week high. The average one year analyst price target according to data from Thomson/First Call is at $130.77.
10:31 EDTAJGArthur J. Gallagher acquires Mcdowall Associates Human Resource Consultants
Arthur J. Gallagher announced the acquisition of McDowall Associates Human Resource Consultants located in Toronto, Ontario. Terms of the transaction were not disclosed.
09:07 EDTVZDisney CEO says company has taken legal action against Verizon
Disney (DIS) CEO Bob Iger said the company has taken legal action against Verizon (VZ) in relation to cable bundling. Iger contends Verizon violated its agreement with Disney's networks, such as ESPN. Iger is speaking on CNBC.
07:59 EDTDBMorgan Stanley sees loss up to $292M possible from Deutsche Bank suit
Morgan Stanley (MS) disclosed yesterday in a regulatory filing that on April 28, 2014, Deutsche Bank National Trust Company (DB), in its capacity as trustee for Morgan Stanley Structured Trust I 2007-1, filed a complaint against the company. The complaint asserts claims for breach of contract and alleges, among other things, that the loans in the trust, which had an original principal balance of approximately $735M, breached various representations and warranties. The complaint seeks, among other relief, specific performance of the loan breach remedy procedures in the transaction documents, unspecified compensatory and/or rescissory damages, interest and costs. On April 3, 2015, the court granted in part and denied in part the company's motion to dismiss. On April 17, 2015, the company filed its answer to the complaint. Based on currently available information, the company believes that it could incur a loss in this action of up to approximately $292M, plus pre- and post-judgment interest, fees and costs.
07:53 EDTPCARWells Fargo to hold a conference
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07:16 EDTERICNational Cable & Telecommunications Association to hold an expo
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05:26 EDTVZT-Mobile launches 'Never Settle Trial' for Verizon customers
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May 4, 2015
17:06 EDTPCARApril Class 8 orders 'somewhat' weaker than expected, says JPMorgan
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16:55 EDTAJGArthur J. Gallagher hires Sean Connelly as Chief Information Officer
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15:56 EDTPCARApril Class 8 unit orders reported to be 22,400 units
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14:31 EDTAJGArthur J. Gallagher acquires Burns-Fazzi, Brock & Associates
Arthur J. Gallagher & Co. announced the acquisition of Burns-Fazzi, Brock & Associates headquartered in Charlotte, North Carolina. Founded in 1995, Burns-Fazzi Brock provides compensation consulting services specifically for credit union executives throughout the United States. They also specialize in the design, implementation and administration of supplemental executive retirement plans as well as consulting services for welfare and death benefit plans. Terms of the transaction were not disclosed.
13:46 EDTVZEarnings Watch: Analysts largely positive on Disney ahead of earnings
The Walt Disney Company (DIS) is scheduled to report second quarter earnings before the market opens on Tuesday, May 5 with a conference call scheduled for 9:30 am ET. The Walt Disney Company is a diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media. EXPECTATIONS: Analysts are looking for earnings per share of $1.10 on revenue of $12.25B, according to First Call. The consensus range for EPS is $1.03-$1.18 on revenue of $11.89B-$12.82B. LAST QUARTER: Disney reported first quarter EPS of $1.27 on revenue of $13.39B, beating estimates for $1.07 and $12.87B, respectively. The company said its cable networks operating income declined 2% to $1.3B in the quarter due to a decrease at ESPN, and its Parks and Resorts revenue was $3.9B vs. $3.6B a year ago. Media Networks revenue for Q1 was $5.86B vs. $4.29B in the year-ago period and Studio Entertainment revenue was $1.86B vs. $1.89B in the year-ago period. During its earnings conference call, the company said cable programming costs were expected to rise 25% in the first half of 2015 and would be flat in the second half of the year. NEWS: During the quarter, Disneyland executives sent multiple emails to the California Department of Public Health urging it to emphasize that the theme park was not responsible for the recent measles outbreaks and was safe for vaccinated people, according to The Associated Press, citing obtained documents. The report noted that "there is no evidence" the company tried to downplay the seriousness of the issue or give misleading statements. In a CNBC interview, Disney Chief Executive Officer Bob Iger said a wearable device is "coming" for park access. Disney/ABC Television Group and Yahoo (YHOO) announced an extension and expansion of their relationship in March. The companies said "content from hit shows across DATG will be featured on Yahoo." At its annual shareholder meeting, Disney said it would premiere three "Star Wars" films between now and May 2017, and said its studio is "at work" on "Frozen 2." Disney is investing $250M in online fantasy sports business DraftKings, said The Wall Street Journal.Disney/ABC Television Group digital chief Albert Cheng is leaving the company, Deadline said. Disney's ESPN objected to Verizon FiOS's (VZ) plans to break up the traditional TV bundle, The Wall Street Journal reported, and The New York Times said Disney refused to run commercials for FiOS' a la carte package on its stations. ESPN filed a breach of contract suit against Verizon over the "flexible bundle," Re/code reported. The Laurene Powell Jobs Trust reported a 7.7% passive stake in Disney in March. STREET RESEARCH: Jefferies raised its price target for Disney shares to $120 from $105 and kept a Buy rating on the stock after analyzing the potential contribution of Shanghai Disneyland. The firm expects attendance at the park to approach 18M and EBIT just north of $250M by 2021. Citigroup analyst Jason Bazinet raised his price target for Disney shares to $125 from $110 on April 27, saying the media giant has an "impressive slate of films" slated for release in 2015–2017. Bazinet, who has a Buy rating on the stock, expects Disney will continue taking share of the global box office. JPMorgan expects Disney to report another quarterly beat relative to consensus expectations amid ongoing strength at the Parks and Consumer Products. UBS raised its price target on Disney to $125 from $116 ahead of the company's earnings report to reflect higher estimates for content and theme parks and their effect on free cash flow. The firm has a Buy rating on shares. PRICE ACTION: Year-to-date, Disney shares are up over 17.5%. Ahead of Tuesday morning's earnings report, shares are trading up 0.2% to $110.75.
10:39 EDTVZCablevision says cord-cutter package 'a reaction to consumer wants'
Cablevision (CVC) says Verizon (VZ) "known to use misleading" advertising information. Says Verizon "doesn't seem to think much of programming agreements." Says company's packages "totally sustainable."
10:00 EDTBUDOn The Fly: Analyst Downgrade Summary
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09:50 EDTTMOLeerink to hold next-generation sequencing meeting
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08:36 EDTVZMicronet Enertec subsidiary enters into purchase agreement
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07:42 EDTBUD, BUDAB InBev downgraded to Underperform from Outperform at CLSA
07:29 EDTVZT-Mobile on pace to overtake Sprint as third among U.S. carriers, Bloomberg says
T-Mobile's (TMUS) subscriber growth rate puts it on pace to overtake Sprint (S) as the third largest U.S. carrier behind Verizon (VZ) and AT&T (T) in terms of subscriber count, reported Bloomberg, which noted that T-Mobile's spot as number three in the U.S. could be confirmed when Sprint reports on its earnings on Tuesday. Reference Link
06:31 EDTVZSpherix Cisco files complaint against Verizon and Cisco
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06:17 EDTDBInvestor says UBS and Credit Suisse may combine investment banks, Reuters says
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May 1, 2015
12:18 EDTVZCogent, Verizon enter into interconnection agreement
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12:17 EDTVZCogent, Verizon enter into interconnection agreement
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11:01 EDTAJGArthur J. Gallagher acquires Integrated Healthcare Strategies
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10:00 EDTORCLOn The Fly: Analyst Initiation Summary
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April 30, 2015
18:38 EDTORCLOracle CEO: Salesforce selling could be positive for Oracle, Re/code says
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17:59 EDTORCLOracle initiated with a Neutral at SunTrust
Target $49.
16:01 EDTVZOptions Update; April 30, 2015
iPath S&P 500 VIX Short-Term Futures up 60c to 21.84. Option volume leaders: AAPL TSLA TWTR GILD FB AMZN CELG VZ KMI according to Track Data.
11:28 EDTORCLSalesforce seen fetching $100 per share, but several analysts say deal unlikely
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09:34 EDTWYNNActive equity options trading on open
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09:14 EDTORCLBrean says take profits in Salesforce after takeover report
Brean Capital analyst Sarah Hindlian recommends taking profits in Salesforce after the stock rallied 12% yesterday. Hindlian views a sale of Salesforce as "highly unlikely." She notes Brean's work indicates such a deal would be unlikely on both price and valuation as the company's Founder and CEO Marc Benioff would be unwilling to sell without a “substantial” premium. The analyst also questions if Salesforce has any interest in selling itself. Further, she believes a takeover by either Oracle (ORCL) or Microsoft (MSFT) would raise regulatory issues. Hindlian keeps a Hold rating on Salesforce.
09:09 EDTORCLOracle 'highly unlikely' to be company that approached Salesforce, CNBC says
CNBC's David Faber said his contacts indicate that it is "highly, highly unlikely" that Oracle (ORCL) has approached Salesforce.com (CRM) about a takeover bid. Faber added that "nothing should be read into" Oracle's recent bond offering in relation to the recent report that Salesforce has hired bankers after receiving takeover interest.
09:03 EDTBUDAB InBev reports Goudet to replace Storm as chairman
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08:04 EDTORCLMorgan Stanley views a potential Oracle acquisition of Salesforce unlikely
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07:07 EDTORCLSalesforce appears to be open to evaluating takeover offers, says Stifel
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06:51 EDTORCLPiper sees Salesforce takeover price upwards of $100/share
Piper Jaffray followed JPMorgan in predicting a Salesforce takeover price upwards of $100 per share. Piper calls Salesforce a "very attractive and unique asset," but admits it has no proprietary information about a potential deal. Oracle (ORCL), Microsoft (MSFT), IBM (IBM) and the large Internet centric vendors are the only tech companies likely to afford Salesforce, Piper believes. It points out that while Oracle denied it made an offer, the $10B in debt raised earlier this week by the company is likely to keep it near the top of the potential acquirer list. Piper says Salesforce potentially being in play raises the potential for any pure cloud vendor to be taken over, including Workday (WDAY) and ServiceNow (NOW), as well as "host of smaller pure cloud vendors and fast-growing non-cloud companies" such as Splunk (SPLK). The firm keeps an Overweight rating on Salesforce with an $80 price target.
06:49 EDTORCLOracle has not approached Salesforce, BuzzFeed says
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06:25 EDTDBEuro zone bank loans rose in March, NY Times says
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06:10 EDTORCLJefferies sees 'very low' probability of Salesforce takeover
Jefferies views the 12% rally in Salesforce (CRM) shares yesterday after Bloomberg reported the company is fielding takeover offers as an overreaction. The firm says the probability of a sale is "very low, especially with the stock already trading at an inflated valuation." It views Microsoft (MSFT) as the most likely suitor, with Oracle (ORCL), IBM (IBM) and Google (GOOG) potentially in the mix. Jefferies keeps an Underperform rating on Salesforce with a $49 price target. The stock closed yesterday up $7.76 to $74.65.
05:57 EDTORCLMicrosoft, IBM, Oracle rumored as potential Salesforce.com suitors, Re/code says
Potential suitors for Salesforce.com (CRM), which is said to have hired financial advisers to handle takeover inquiries, may include Microsoft (MSFT), IBM (IBM), Google (GOOG) and Oracle (ORCL), Re/code's Arik Hesseldahl reports. Hesseldahl notes that Salesforce CEO Marc Benioff attended a dinner with Microsoft CEO Satya Nadella on Tuesday night, ahead of Microsoft's Build conference. Reference Link
05:46 EDTORCLStocks with implied volatility movement; CRM ORCL
Stocks with implied volatility movement; Salesforce (CRM) 57, Oracle (ORCL) 21 according to iVolatility.
April 29, 2015
17:16 EDTORCLSalesforce could be worth $100/share in a takeover, says JPMorgan
After Bloomberg reported this afternoon that Salesforce has hired bankers to field takeover inquiries, JPMorgan analyst Mark Murphy told investors that he believes the stock could be worth $100 in a buyout. Shares closed the trading day up $7.76 to $74.65. A deal would be the largest in software history, and only a short list of companies could pull it off, Murphy wrote. Those companies are Microsoft (MSFT), Oracle (ORCL), IBM (IBM) and SAP (SAP), he believes. After pointing out JPMorgan has "no conclusive evidence to confirm or dispel the speculation," Murphy noted Salesforce CEO Marc Benioff was sitting in the front row of the Microsoft Build Conference this morning and that Oracle just raised $10B of debt. The analyst calls Salesforce a "rare asset" and the "pioneering leader of the cloud computing." He has an Overweight rating on the shares.
16:01 EDTWYNNOptions Update; April 29, 2015
iPath S&P 500 VIX Short-Term Futures up 47c to 21.24 Option volume leaders: AAPL TSLA TWTR GILD FB AMZN C MCD BAC CRM BIDU WYNN according to Track Data.
14:58 EDTORCLSalesforce hires bankers after approach by potential buyer, Bloomberg says
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14:48 EDTORCLOracle May weekly volatility elevated
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13:10 EDTWYNNWynn Resorts price target lowered to $112 from $143 at Nomura
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12:55 EDTWYNNOn The Fly: Top stock stories at midday
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10:00 EDTWYNNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Capital Agency (AGNC) downgraded at UBS... American Public Education (APEI) downgraded to Hold from Buy at Deutsche Bank... Annaly Capital (NLY) downgraded at UBS... C.H. Robinson (CHRW) downgraded to Neutral from Buy at BofA/Merrill... Church & Dwight (CHD) downgraded to Perform from Outperform at Oppenheimer... Cobalt (CIE) downgraded to Hold from Accumulate at Tudor Pickering... Compass Minerals (CMP) downgraded to Neutral from Overweight at JPMorgan... Corning (GLW) downgraded to Sell from Underperform at CLSA... Corporate Office Properties (OFC) downgraded at Stifel... Entergy (ETR) downgraded to Market Perform from Outperform at BMO Capital... First Interstate (FIBK) downgraded to Market Perform from Outperform at Wells Fargo... German American Bancorp (GABC) downgraded to Market Perform at Keefe Bruyette... IGI Laboratories (IG) downgraded to Market Perform from Outperform at Avondale... Lumber Liquidators (LL) downgraded at Longbow... Marvell (MRVL) downgraded at JMP Securities... National Oilwell (NOV) downgraded to Underweight from Equal Weight at Morgan Stanley... Oceaneering (OII) downgraded to Neutral from Buy at Sterne Agee CRT... OpenText (OTEX) downgraded to Sector Performer from Outperformer at CIBC... Parker-Hannifin (PH) downgraded on macro headwinds at Stifel... Pfizer (PFE) downgraded to Neutral from Buy at Citigroup... Procter & Gamble (PG) downgraded to Hold from Buy at Societe Generale... RTI International (RTI) downgraded to Market Perform from Outperform at FBR Capital... Ryder (R) downgraded to Neutral from Buy at Goldman... Stratasys (SSYS) downgraded to Neutral from Buy at Goldman... Targa Resources (TRGP) downgraded to Accumulate from Buy at Global Hunter... Total System (TSS) downgraded to Market Perform from Outperform at Wells Fargo... Twitter (TWTR) downgraded to Equal Weight from Overweight at Barclays... Wynn Resorts (WYNN) downgraded to Neutral at Susquehanna.
09:40 EDTWYNNActive equity options trading on open
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09:34 EDTWYNNNevada reports March statewide gaming win down 3.15% to $951.25M
Reports Las Vegas Strip gaming win down 9.58% to $507.03M. Publicly traded companies in the space include Boyd Gaming (BYD), Caesar's (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
09:26 EDTWYNNOn The Fly: Pre-market Movers
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08:37 EDTWYNNWynn Resorts downgraded to Neutral at Susquehanna
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07:58 EDTWYNNWynn Resorts price target lowered to $153 from $174 at Brean Capital
Brean Capital lowered its price target on Wynn Resorts to $153 from $174 following its "downright ugly" Q1 results. The firm also noted the dividend reduction to 50c from $1.50. Brean Capital maintained its Buy rating on the belief the opening of the Wynn Palace in Cotai will drive revenue and EBITDA and drive the share price higher.
07:16 EDTWYNNWynn Resorts downgraded to Neutral from Positive at Susquehanna
April 28, 2015
19:18 EDTWYNNCasino stocks drop after Wynn's Q1 earnings report
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19:10 EDTWYNNOn The Fly: After Hours Movers
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16:16 EDTWYNNWynn Resorts reduces quarterly dividend to 50c
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16:15 EDTWYNNWynn Resorts reports Q1 adjusted EPS 70c, consensus $1.33
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15:44 EDTWYNNWynn Resorts technical comments before results
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15:06 EDTWYNNNotable companies reporting after market close
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11:48 EDTTMOWaters price target raised to $120 from $105 at Mizuho
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10:05 EDTERICOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Applied Materials (AMAT) downgraded to Neutral from Buy at Nomura... CGI Group (GIB) downgraded to Hold from Buy at Societe Generale... Celladon (CLDN) downgraded to Neutral from Buy at H.C. Wainwright... Coherent (COHR) downgraded to Neutral from Buy at B. Riley... Commerzbank (CRZBY) downgraded to Neutral from Overweight at JPMorgan... Continental Resources (CLR) downgraded to Neutral from Accumulate at Global Hunter... Crestwood Equity (CEQP) downgraded to Neutral from Overweight at JPMorgan... Crestwood Midstream (CMLP) downgraded to Neutral from Overweight at JPMorgan... Discovery (DISCA) downgraded to Sell from Neutral at UBS... Ericsson (ERIC) downgraded to Neutral from Buy at Goldman... First Merchants (FRME) downgraded to Market Perform from Outperform at Fig Partners... MDC Partners (MDCA) downgraded to Sector Perform from Outperform at RBC Capital... Medidata (MDSO) downgraded to Hold from Buy at Jefferies... Melco Crown (MPEL) downgraded to Underweight from Equal Weight at Morgan Stanley... SM Energy (SM) downgraded to Accumulate from Buy at Global Hunter... Springleaf (LEAF) downgraded to Neutral from Outperform at Macquarie... iGATE (IGTE) downgraded to Sector Perform from Outperform at RBC Capital.
06:46 EDTDBDeutsche Bank co-CEO's trial started today, Reuters says
Deutsche Bank co-CEO Juergen Fitschen's trial for allegedly providing misleading evidence began today, according to Reuters. The trial is expected to continue at least until September and could be a major distraction for the bank as it pursues a major restructuring initiative, the news service stated. Reference Link
06:39 EDTDBECB vetoed Deutsche Bank restructuring plan, Reuters says
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06:05 EDTVZFCC could reject Dish's wireless license auction bids, WSJ reports
According to sources, the FCC could reject Dish Network's (DISH) "attempt to benefit from billions of dollars in small-business discounts" in a wireless license auction, The Wall Street Journal reports. Earlier this year, Dish won $13.3B worth of bids in the auction, and later claimed $3.3B in discounts intended for small businesses. Dish, which said it disclosed its bidding plans in advance, believes its participation in the auction introduced competition to AT&T (T) and Verizon (VZ). Reference Link
April 27, 2015
16:50 EDTERICEricsson downgraded to Neutral from Buy at Goldman
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16:27 EDTDBOn The Fly: Top stock stories for Monday
Stocks on Wall Street began the session in positive territory and saw the Nasdaq and S&P 500 briefly hit new all-time highs in the process. By lunch time the Nasdaq and S&P crossed into negative ground while the Dow continued to struggle. The market limped into the close, digesting some of its recent gains, as investors prepared for the next round of earnings reports due out after the close, to be headlined by Apple (AAPL). ECONOMIC EVENTS: In the U.S., Markit's flash services PMI fell 1.4 points to 57.8 in April, versus the consensus forecast for a 59.5 reading. The Dallas Fed's manufacturing index remained weak at -16.0 in April, versus the consensus forecast for a -12.0 reading. In Europe, Spanish Prime Minister Mariano Rajoy lifted his nation's GDP forecast to 2.9% from 2.4% for 2015. COMPANY NEWS: Shares of Deutsche Bank (DB) trading in New York dropped $1.65, or 4.82%, to $32.61 after the bank, along with publishing its quarterly results, unveiled a major strategic overhaul. The bank plans to cut annual costs by another EUR3.5B, reduce the size of its securities business and lower its Postbank holdings next year to sub-50% from 94% by selling shares on the market before reducing its stake to zero in the medium term... Applied Materials (AMAT) and Tokyo Electron announced that they have agreed to terminate their merger agreement after the U.S. Department of Justice advised the parties that the coordinated remedy proposal submitted to all regulators would not be sufficient to replace the competition lost from the merger, leading the companies to determined that there is "no realistic prospect for the completion of the merger." Applied Materials also announced that its board has approved a new share repurchase program authorizing up to $3B in repurchases over the next three years beginning in Q3, but its shares fell $1.83, or 8.42%, to $19.97 following the news. MAJOR MOVERS: Among the notable gainers was iGATE (IGTE), which rose $1.54, or 3.36%, to $47.39 after the company entered into a definitive merger agreement under which Capgemini will acquire IGATE for a cash consideration of $48 per share in a transaction will amount to $4B. Also higher was Tesla Motors (TSLA), which gained $13.04, or 5.97%, to $231.47 after Deutsche Bank analyst Rod Lache wrote in a note to investors that the company's soon to be unveiled electricity storage products may boost the company's results more than the Street expects. Among the noteworthy losers was Celladon (CLDN), which plunged $11.04, or 80.7%, to $2.64 and was downgraded by Street research firms after reporting that its phase 2b trial evaluating a single, one-time, intracoronary infusion of the cardiovascular gene therapy agent Mydicar did not meet its primary and secondary endpoints. Also lower were shares of Akorn (AKRX), which fell $12.27, or 22.21%, to $42.97 after the drugmaker announced late Friday that it will need to further restate its previously issued financial statements for 2014. INDEXES: The Dow fell 42.17, or 0.23%, to 18,037.97, the Nasdaq slid 31.84, or 0.63%, to 5,060.25, and the S&P 500 dropped 8.77, or 0.41%, to 2,108.92.
16:09 EDTPMCSPMC-Sierra reports Q1 EPS 10c, consensus 9c
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12:25 EDTDBOn The Fly: Top stock stories at midday
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11:37 EDTVZESPN files breach of contract suit against Verizon, Re/code reports
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10:21 EDTWYNNWynn Resorts volatility elevated into Q1 and outlook
Wynn Resorts May weekly call option implied volatility is at 55, May is at 38, June is at 36, September is at 32; compared to its 26-week average of 32 according to Track Data, suggesting large near term price movement into the expected release of Q1 results in late April 28.
10:18 EDTWYNNUnion group with Wynn ties launches Macau-focused site, Macau Daily Times says
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10:04 EDTPMCSHigh option volume stocks
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09:35 EDTDBDeutsche Bank falls sharply in early trading, levels to watch
The stock is down over 4% in early trading to $32.85. At that price next support is at $31.97. Resistance is at $33.44.
08:14 EDTVZBofA/Merrill media & telecom analysts hold analyst/industry conference call
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08:08 EDTORCLAccenture, Oracle form new business group
Accenture (ACN) and Oracle (ORCL) have launched a new business group to jointly help customers embrace the cloud to achieve their digital transformation goals. Through the group, Accenture and Oracle will deliver industry-specific solutions built on the Oracle Cloud to help clients realize the benefits of the cloud faster and with reduced risk. The Accenture Oracle Business Group brings together the leading technology, skills and experience from each company to offer businesses the ability to implement cloud solutions quicker and easier than previously possible.
07:13 EDTVZUBM Tech to hold a conference
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06:27 EDTDBDeutsche Bank not expecting significant damage from forex probe, Reuters reports
Deutsche Bank does not expect to sustain significant damage from an investigation into its alleged manipulation of foreign exchange trading, the company's CFO said, according to Reuters. Reference Link
April 26, 2015
19:32 EDTDBDeutsche Bank to keep 500 German retail branches after overhaul, Reuters says
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19:24 EDTDBDeutsche Bank plans to reduce Postbank stake to sub-50% next year, Reuters says
Deutsche Bank plans to reduce its Postbank holdings next year to sub-50% from 94% by selling shares on the market before reducing its stake to zero in the medium term, reports Reuters, citing a source close to the matter. The German government will monitor any Postbank deal to reduce layoffs at the unit, with deputy SPD parliamentary floor leader Carsten Schneider saying, "We're worried about jobs at Postbank... The policy goal is that it won't be leveled following a sale to an investor." Reference Link
17:45 EDTDBDeutsche Bank profits impacted by EUR1.5B in litigation expenses
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17:43 EDTDBDeutsche Bank reports Q1 net income EUR559M versus EUR1.1B in prior year
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April 24, 2015
18:01 EDTDBDeutsche Bank to deconsolidate Postbank, WSJ says
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17:06 EDTDBDeutsche Bank to deconsolidate postbank, Bloomberg says
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13:17 EDTWYNNWynn Resorts says stockholders elect all director nominees at annual meeting
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12:58 EDTWYNNElaine Wynn comments on election results of the Wynn Resorts Annual Meeting
Elaine Wynn, co-founder and third-largest stockholder of Wynn Resorts issued the following statement regarding today's Wynn Resorts 2015 Annual Meeting of Stockholders: "While I am certainly disappointed by the result of today's vote, I am hopeful that I have once again served as an agent for change and improvement for this company, which I love so deeply. I have believed all along that this Board was better and would be held more responsible for its actions with me as a member of it. I am gratified to hear from so many investors that this proxy contest was a success in that it brought to light critical corporate governance concerns at Wynn Resorts such as independence, expertise and diversity in the Boardroom and the impact they have on key issues that our company is facing including compensation practices and succession planning. It remains to be seen if the directors of this company will deliver on the commitments they have made to greater independence, diversity and oversight of management. I, however, as the third-largest stockholder, remain committed to holding all accountable, and will now do so from a position of greater strength. Thank you, my fellow stockholders, for your continued support of me and the continued success of Wynn Resorts for our collective benefit."
08:23 EDTDBBafin not seen punishing Deutsche Bank with large fine after probe, Reuters says
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08:13 EDTERICEricsson disappointing revenues due to North American weakness, says Cowen
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07:52 EDTERICEricsson shares should be bought on weakness, says Bernstein
Bernstein says that Ericsson's results were disappointing. The firm says the company's gross margin miss was driven by its ongoing litigation with Apple (AAPL) and a decline in U.S. software revenues and higher sales in China. The firm says the negative reaction in the stock was overdone and it keeps an Outperform rating on the shares.
06:59 EDTAJGArthur J. Gallagher reports Q1 EPS 13c, may not compare to consensus 25c
Reports Q1 revenue $1.23B, consensus $1.19B.
06:56 EDTDBSources: Deutsche Bank receives offer for Hua Xia Bank, Reuters reports
According to sources, Deutsche Bank has received "at least one" proposal for its 20% stake in Hua Xia Bank from a Chinese bank, Reuters reports. The German bank is considering selling its stake in Hua Xia, which is valued at around $4.8B, though a deal is not yet within reach, the sources say. Reference Link
06:50 EDTVZDisney, Fox refuse to run FiOS commercials, NY Times says
Disney (DIS) and 21st Century Fox (FOXA) are refusing to run commercials for Verizon (VZ) FiOS' slimmed down, a la carte package on a number of their stations, according to The New York Times. Disney, Fox and Comcast (CMCSA) have objected to FiOS' new offering, the news service stated. Reference Link
April 23, 2015
15:01 EDTAJGNotable companies reporting before tomorrow's open
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10:45 EDTORCLRumor: Salesforce.com active on renewed takeover speculation
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10:26 EDTGMEGameStop management to meet with BB&T
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08:29 EDTDBDeutsche Bank plans deep investment bank cuts, Postbank spinoff, FT says
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08:21 EDTDBDeutsche Bank to pay $2.5B in interest rate manipulation settlement
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08:21 EDTDBDeutsche Bank to pay $800M to settle CFTC charges of LIBOR, Euribor manipulation
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05:29 EDTERICEricsson expects pace of 4G deployments in China to continue
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05:29 EDTERICEricsson reports Q1 net income SK1.5B vs. SK1.7B last year
Reports Q1 sales SK53.5B vs. SK47.5B. Reports Q1 operating margin 4% vs. 5.5% last year. Significant currency movements impacted sales positively. Gross margin decreased YoY to 35.4% (36.5%), due to lower capacity business in North America and continued fast pace of 4G coverage deployments in Mainland China, increased restructuring charges and a higher share of Global Services sales.
April 22, 2015
19:43 EDTDBDeutsche Bank likely to pay over $2B in Libor rigging settlement, Reuters says
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14:50 EDTWYNNEarnings Watch: Macau revenue down 37% this year ahead of Las Vegas Sands report
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12:52 EDTDBDeutsche Bank to report Q1 litigation costs of EUR1.5B
Deutsche Bank announced that it expects to report litigation costs of approximately EUR 1.5B for Q1. The bank noted, "The majority of these litigation costs are not tax-deductible. Despite these costs Deutsche Bank will be profitable in the first quarter and will report near record revenues."
09:22 EDTTMOOn The Fly: Pre-market Movers
UP AFTER EARNINGS: CalAmp (CAMP), up 12.7%... Angie's List (ANGI), up 17.4%... Broadcom (BRCM), up 6.3%... Owens Corning (OC), up 3.8%... Yum! Brands (YUM), up 3.3%... Dolby Laboratories (DLB), up 3.6%... Infinera (INFN), up 2.4%... AutoNation (AN), up 2.5%... Amgen (AMGN), up 3.1%... Coca-Cola (KO), up 2%. ALSO HIGHER: Procera Networks (PKT) up 10.4% after being acquired by Francisco Partners in deal valued at $240M... Organovo (ONVO), up 19.2% after entering into a collaboration agreement with Merck Sharp and Dohme... Vical (VICL), up 5.8% after being awarded $4M contract to manufacture HIV vaccines for clinical evaluation... CTI BioPharma (CTIC), up 4.9% after announcing that Phase 3 pacritinib data will be highlighted in a late-breaking oral presentation at ASCO meeting. DOWN AFTER EARNINGS: Chipotle Mexican Grill (CMG), down 5.2%... iRobot (IRBT), down 3.6%... Cree (CREE), down 3.5%... United Rentals (URI), down 4%... Super Micro Computer (SMC), down 2.3%... Thermo Fisher (TMO), down 2.6%. ALSO LOWER: Natural Resource Partners (NRP), down 14% after reducing quarterly distribution 75% to 9c per unit... Trinity Industries (TRN), down 3.5% following a Bloomberg report that the Justice Department has initiated a criminal investigation into Trinity guardrails.
09:14 EDTTMOThermo Fisher backs FY15 capex view of $435M-$450M
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08:45 EDTTMOThermo Fisher raises view of synergies to be recognized this year to $125M
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06:09 EDTTMOThermo Fisher reports Q1 Life Sciences Solutions revenue $1.02B
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06:03 EDTTMOThermo Fisher raises FY15 adjusted EPS to $7.25-$7.40 from $7.22-$7.40
FY15 EPS consensus of $7.32. Cuts FY15 revenue to $16.67B-$16.83B from $16.8B-$17B, consensus $16.87B. The updated guidance reflects more unfavorable foreign currency exchange rates, as well as stronger operating performance and the acquisition of ASI.
06:01 EDTVZGoogle could launch wireless service today, WSJ reports
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06:01 EDTTMOThermo Fisher reports Q1 adjusted EPS $1.63, consensus $1.61
Reports Q1 revenue $3.92B, consensus $4.0B
April 21, 2015
18:53 EDTVZFox, NBC say Verizon cable packages violate license terms, Washington Post says
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16:26 EDTVZOn The Fly: Top stock stories for Tuesday
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16:00 EDTVZOptions Update; April 21, 2015
iPath S&P 500 VIX Short-Term Futures down 1c to 21.53 Option volume leaders: AAPL TSLA TWTR GILD FB PBR AMZN C KMI KO VZ MCD according to Track Data.
15:28 EDTTMONotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Coca-Cola (KO), consensus 42c... Boeing (BA), consensus $1.81... McDonald's (MCD), consensus $1.06... EMC (EMC), consensus 36c... Abbott Laboratories (ABT), consensus 42c... Thermo Fisher Scientific (TMO), consensus $1.61... Bank of New York Mellon (BK), consensus 59c... TE Connectivity (TEL), consensus $1.01... T. Rowe Price Group (TROW), consensus $1.14... St. Jude Medical (STJ), consensus 91c... Amphenol (APH), consensus 56c... Nielsen (NLSN), consensus 47c... Citizens Financial Group (CFG), consensus 34c... Autoliv (ALV), consensus $1.31... D.R. Horton (DHI), consensus 38c... Westinghouse Air Brake Technologies (WAB), consensus 95c... Huntington Bancshares (HBAN), consensus 19c... SEI Investments (SEIC), consensus 49c... AutoNation (AN), consensus 89c... Gentex (GNTX), consensus 25c... Ryder System (R), consensus $1.00... Owens Corning (OC), consensus 13c... NuStar Energy (NS), consensus 58c... Six Flags (SIX), consensus (67c)... Tupperware Brands (TUP), consensus 98c... MarketAxess Holdings (MKTX), consensus 64c... Lithia Motors (LAD), consensus $1.22... Knight Transportation (KNX), consensus 31c... Evercore Partners (EVR), consensus 58c... Potlatch (PCH), consensus 19c... Natus Medical (BABY), consensus 29c... AZZ (AZZ), consensus 59c... United Community Banks (UCBI), consensus 29c... Sonus Networks (SONS), consensus (31c)... Angie's List (ANGI), consensus 0c... Pacific Premier Bancorp (PPBI), consensus 27c.
12:33 EDTVZOn The Fly: Top stock stories at midday
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10:20 EDTVZWells thinks carrier equipment vendors factored in weak capex
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09:37 EDTVZActive equity options trading on open
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08:57 EDTVZVerizon says deleveraging plans on track
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08:41 EDTVZOptions expected to be active
Options expected to be active: UA TEVA PRGO MYL UTX QCOM VMW HOG CMG IBM VZ
08:02 EDTPCARPACCAR says DAF 'cooperating' with European Commission
DAF is cooperating with the European Commission and is preparing its response to the Statement of Objections issued in November 2014. The Statement expressed the Commission’s preliminary view that all major European medium- and heavy-duty truck manufacturers had participated in anticompetitive practices in the European Union. The Commission indicated that it will seek to impose significant fines on the manufacturers. The Commission will review the manufacturers’ responses before issuing a decision. Any decision would be subject to appeal. The Company is unable to estimate the potential fine at this time.
08:02 EDTPCARPACCAR reports Q1 EPS $1.06, consensus $1.01
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07:43 EDTVZVerizon CEO says confident in ability to maintain momentum
“Verizon is off to a strong start in 2015 with another quarter of profitable growth. We expanded our base of customers seeking a premium experience, and we grew revenues, earnings and cash flow during a quarter in which we also took significant steps to sharpen our strategic focus. We are confident in our ability to maintain momentum and continue to add value for customers and shareholders,” said Verizon Chairman and CEO Lowell McAdam.
07:42 EDTVZVerizon added 133K net new FiOS Internet, 90K net new FiOS Video connections
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07:40 EDTVZVerizon reports 565,000 retail postpaid net additions in Q1
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07:37 EDTVZVerizon backs FY15 capex view $17.5B-$18B
Verizon continues to expect FY15 capital expenditures to range between $17.5 billion and $18.0 billion.
07:37 EDTVZVerizon reports Q1 consolidated operating income margin 24.9%
Verizon reports Q1 consolidated operating income margin was 24.9%, compared with 23.2% in first-quarter 2014. Cash flow from operating activities increased to $10.2B in Q1, compared with $7.1B in first-quarter 2014. The $10.2B included a non-recurring $2.4B related to the monetization of tower assets. Excluding the tower-transaction impact, free cash flow totaled about $4.2B in Q1, compared with $3.0B in first-quarter 2014.
07:36 EDTVZU.S. mobile cariers could be pressured from new data plans, WSJ says
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07:35 EDTVZVerizon reports Q1 EPS $1.02, consensus 95c
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