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Stock Market & Financial Investment News

News Breaks
January 16, 2013
10:04 EDTMGM, HOT, YELP, WFC, SXE, LYG, ETE, BUD, HCN, BXP, VOD, SNH, NRGY, LSE, DELL, AAPL, SXL, MJN, ING, ARMHOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AB InBev (BUD) downgraded to Reduce from Neutral at Nomura... ARM Holdings (ARMH) downgraded to Neutral from Buy at UBS... CapLease (LSE) downgraded to Market Perform from Outperform at FBR Capital... Energy Transfer Equity (ETE) downgraded to Neutral from Outperform at RW Baird... ING Group (ING) downgraded to Underperform from Neutral at Macquarie... Inergy, L.P. (NRGY) downgraded to Neutral from Outperform at RW Baird... Lloyds Banking (LYG) downgraded to Underperform from Neutral at Macquarie... Mead Johnson (MJN) downgraded to Neutral from Outperform at Credit Suisse... Senior Housing (SNH) downgraded to Market Perform from Outperform at Wells Fargo... Southcross Energy Partners (SXE) downgraded to Neutral from Outperform at RW Baird... Sunoco Logistics (SXL) downgraded to Neutral from Outperform at RW Baird... Vodafone (VOD) downgraded to Hold from Buy at Deutsche Bank... Wells Fargo (WFC) downgraded to Neutral from Overweight at Atlantic Equities... Apple (AAPL) downgraded to Sector Perform from Outperform at Pacific Crest... Boston Properties (BXP) downgraded to Neutral from Overweight at JPMorgan... Yelp (YELP) downgraded to Underperform from Market Perform at Northland Securities... Dell (DELL) downgraded to Hold from Buy at Argus... Health Care REIT (HCN) downgraded to Neutral from Overweight at JPMorgan... MGM Resorts (MGM) downgraded to Neutral from Buy at ISI Group... Starwood Hotels (HOT) downgraded to Neutral from Buy at ISI Group.
News For BUD;ARMH;LSE;ETE;ING;NRGY;LYG;MJN;SNH;SXE;SXL;VOD;WFC;AAPL;BXP;YELP;DELL;HCN;MGM;HOT From The Last 14 Days
Check below for free stories on BUD;ARMH;LSE;ETE;ING;NRGY;LYG;MJN;SNH;SXE;SXL;VOD;WFC;AAPL;BXP;YELP;DELL;HCN;MGM;HOT the last two weeks.
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April 10, 2014
16:39 EDTYELPOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower as selling pressure took hold early in the session and did not relent. The averages closed near their worst levels, with the tech-heavy Nasdaq down more than 3%. With today's close, each of the major indexes is now lower for the year. ECONOMIC EVENTS: In the U.S., initial claims for unemployment benefits fell to 300K last week, hitting their lowest weekly level since May 2007. The the timing of Easter and Passover, as well as other seasonal factors, however, may have lead many to discount the figure. Export prices rose 0.8% in March, while import prices grew 0.6%, both of which were greater than expected advances. In China, exports fell 6.6% from a year earlier in March, while imports plunged 11.3%. Economists had predicted year-over-year gains for both. COMPANY NEWS: eBay (EBAY) and activist investor Carl Icahn settled their proxy contest, with Icahn withdrawing both his two board nominees and his proposal for eBay to spin off its PayPal unit. As part of its agreement with Icahn, eBay will expand the number of independent directors on its board to 10 and add David Dorman to serve in that capacity. The online retail marketplace was among the many tech names suffering losses, closing the session down $1.81, or 3.24%, at $54.08... Ally Financial (ALLY), formerly the auto finance and financial services arm of General Motors (GM), lost $1.02, or 4.08%, to close at $23.98 in its first day of trade following its return to the public markets after having price its return offering at $25.00 per share... General Motors made news again as well by confirming that two of its engineers have been placed on paid leave as part of the company's ongoing ignition switch recall probe. The company also added ignition lock cylinders to its safety recall of 2.2 million vehicles in the U.S. and said it expects to take a $1.3B charge in the first quarter due to recall-related repairs... MAJOR MOVERS: Among the notable gainers was drugstore operator Rite Aid (RAD), which rose 54c, or 8.44%, to $6.94 after reporting earnings and revenue and that beat expectations and giving a revenue outlook for its fiscal 2015 that came in above estimates. Also higher following a better than expected earnings report was casual restaurant owner Ruby Tuesday (RT), which advanced 72c, or 12.08%, to $6.68. Among the noteworthy losers was data security solutions provider Imperva (IMPV), down $21.73, or 43.7%, to $28.00 which plunged 41% after the company slashed its first quarter profit and sales outlook. Another name in computer security, FireEye (FEYE), was among a a number of so-called "momentum" stocks that fell during the session, sliding $6.64, or 11.77%, to $49.75. Other momentum stocks that fell included 3D Systems (DDD), down $5.90, or 10.79%, to $48.78, and Yelp (YELP), down $7.78, or 10.92%, to $63.47. INDEXES: The Dow was down 266.96, or 1.62%, to 16,170.22, the Nasdaq was down 129.79, or 3.1%, to 4,054.11, and the S&P 500 was down 39.10, or 2.09%, to 1,833.08.
16:00 EDTAAPLOptions Update; April 10, 2014
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15:25 EDTWFCNotable companies reporting before tomorrow's open
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14:24 EDTARMHAmazon Web Services CTO says ARM CPUs may be considered, The Register says
Amazon (AMZN) Web Services chief technology officer Werner told The Register that the company is “always looking for efficiency” and may consider using ARM (ARMH) CPUs in the future. Vogels said another processor architecture AWS has considered is IBM's (IBM) Power, the report noted. Reference Link
13:07 EDTWFCWells Fargo April weekly 50 straddle priced for 2% move into Q1
12:36 EDTWFCEarnings Preview: Wells Fargo to report results after dividend hike
Wells Fargo (WFC), a bank holding company, is scheduled to report first quarter earnings before the open on Friday, April 11, with a conference call scheduled for 10:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of 97c on revenue of $20.6B, according to First Call. The consensus range for EPS is 90c-$1.02 on revenue of $19.5B-$22.41B. LAST QUARTER: Wells Fargo reported higher than expected Q4 EPS and revenue. The company said that it believes it can continue to grow its net interest margin over time. In a statement, CEO John Stumpf said, "Strong earnings power and capital levels, and an improving economic outlook are major reasons why we look ahead to 2014 with optimism." On March 26, Wells Fargo reported that the Federal Reserve had approved the bank’s capital allocation plan. Under the plan, Wells plans to pay a dividend of 35c per share. The dividend, which was increased 16.7% over prior levels, must be approved by the bank’s board of directors at its April 29 meeting. The bank also authorized the repurchase of an additional 350M shares of its own stock. STREET RESEARCH. In a note to investors on April 8, UBS wrote that Q1 may be the first quarter in four years that Wells Fargo’s EPS will not grow versus the previous quarter, as it believes the bank was hit with seasonal costs in Q1 that were not offset by revenue increases. The bank’s EPS will drop to 97c in Q1, down from $1.00 in Q4, but will still be up 5% versus the first quarter of 2013, the firm predicted. On a positive note, UBS contended that Wells Fargo was "a relative winner" of the Fed’s capital plan approval process. Although Wells' board has approved a 350M share increase in the bank’s stock repurchases, it typically doesn’t carry out large share repurchases, UBS stated. Wells should benefit from a continued U.S. economic recovery, but its shares already reflect such an outlook, according to UBS, which kept a Neutral rating on the stock. Meanwhile, Oppenheimer was somewhat upbeat about the sector's outlook. In a note to investors on April 3, the firm predicted that bank stocks would outperform the broader market by a few hundred basis points per year. Loan growth "remains sluggish," but reduced credit costs and expenses should enable banks to report results that show slight year-over-year improvements, the firm contended. PRICE ACTION: Wells’ stock is little changed over the last month, but is up 6% so far this year and nearly 29% over the last 12 months.
10:24 EDTMGMMGM holds up amid broader downtrend after analyst recommends stock
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10:00 EDTAAPLOn The Fly: Analyst Initiation Summary
Apple (AAPL) initiated with a Buy at Deutsche Bank... Crocs (CROX) initiated with a Buy at Buckingham... Deckers Outdoor (DECK) initiated with a Buy at Buckingham... EMC (EMC) initiated with a Buy at Deutsche Bank... HP (HPQ) initiated with a Buy at Deutsche Bank... IBM (IBM) initiated with a Hold at Deutsche Bank... NeoPhotonics (NPTN) coverage resumed with a Market Perform at Raymond James... NetApp (NTAP) initiated with a Hold at Deutsche Bank... Nutrisystem (NTRI) initiated with a Buy at B. Riley... Questar (STR) initiated with an Underperform at BofA/Merrill... S&T Bancorp (STBA) initiated with an Outperform at Raymond James... STB Systems Inc (STBI) initiated with an Outperform at Raymond James... Skechers (SKX) initiated with an Underperform at Buckingham... Steven Madden (SHOO) initiated with a Buy at Buckingham... UGI Corporation (UGI) initiated with a Buy at BofA/Merrill... Web.com (WWWW) initiated with a Neutral at Buckingham... Ally Financial (ALLY) initiated with a Buy at BTIG... Visteon (VC) initiated with a Buy at Citigroup... Greatbatch (GB) initiated with a Buy at KeyBanc... Steris (STE) initiated with a Buy at KeyBanc... Cooper Companies (COO) initiated with a Hold at KeyBanc... Hill-Rom (HRC) initiated with a Hold at KeyBanc... Invacare (IVC) initiated with a Hold at KeyBanc... Teleflex (TFX) initiated with a Hold at KeyBanc... Provident Financial (PROV) initiated with a Market Perform at Keefe Bruyette... UMH Properties (UMH) initiated with a Hold at Wunderlich.
09:37 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: SIRI RAD AAPL AMZN AA FB TSLA MRK CVX C
09:01 EDTHOTStarwood Hotels launches Aloft brand in Atlanta, Georgia
Starwood Hotels & Resorts Worldwide announced the grand opening of Aloft Atlanta Downtown, the first Aloft hotel in the state of Georgia. Owned by Tampa-based DeBartolo Development, LLC, and managed by Atlanta-based Banyan Investment Group, the 10-story property in downtown Atlanta underwent a multi-million dollar transformation prior to conversion. Aloft Atlanta Downtown offers 254 spacious, loft-like rooms, forward-thinking technology and a vibrant, social atmosphere.
08:22 EDTAAPLApple seen offering iWatches priced as high as 'thousands,' AppleInsider says
KGI analyst Ming-Chi Kuo, who has a proven track record of predicting about Apple hardware, predicts that one of the major differences between Apple's smartwatch and those from rivals will be that its casing and band will come in a variety of materials and that luxury iWatches will carry a price tag of "several thousand dollars," reported AppleInsider. Other features expected by Kuo for the device, including biometrics, a flexible AMOLED display with sapphire cover lens and NFC, the report added. Reference Link
08:14 EDTMGMMGM Resorts weakness creates long-term buying opportunity, says Stifel
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07:39 EDTAAPLApple Chief Designer gains more say over software, Bloomberg says
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07:30 EDTWFCWells Fargo April volatility elevated at 20 into Q1 and outlook
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07:24 EDTAAPLApple may release 12" Retina MacBook Air, low price iMac in 2014, MacRumors says
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06:53 EDTVODVodafone acquires stake in India unit for $1.5B, Bloomberg says
Vodafone will acquire Piramal Enterprises' stake in its India mobile-phone unit for $1.5B as the company ups its investments in the world’s quickest growing smartphone market, according to Bloomberg, citing a company statement from Piramal. Reference Link
06:48 EDTAAPLApple initiated with a Buy at Deutsche Bank
Deutsche Bank believes the iPhone and iPad offer good growth for Apple with upside coming from the potential for a larger screen sized phone. The firm initiated the stock with a Buy rating and $650 price target.
06:41 EDTAAPLApple confirms Christie departure, FT reports
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06:35 EDTWFCMobile banking presents opportunity and risks for banks, WSJ reports
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06:26 EDTYELPYelp deal with Yahoo receives criticism from small business owners, WSJ reports
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