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Stock Market & Financial Investment News

News Breaks
July 14, 2014
12:21 EDTABT, URS, HLIT, MYL, AAPL, ACM, RVBD, COn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday to start the week after Citigroup's (C) better than expected headline results appeared to renew investor optimism over the earnings season. Also, a number of additional M&A deals were reported over the weekend and this morning. Since its initial move higher the market has moved in a very narrow range, but the early gains are still enough to put the major averages on track for their best daily performance since late May. ECONOMIC EVENTS: In the U.S., no major economic data was released this morning. COMPANY NEWS: Shares of Citigroup (C), the second major U.S. bank to report on its second quarter results, advanced 3% after its headline earnings and revenue beat expectations. Also, the bank announced that it has reached a $7B settlement that resolves actual and potential civil claims by the Department of Justice, several state attorneys general and the Federal Deposit Insurance Corporation relating to RMBS and collateralized debt obligations issued, structured or underwritten by Citi between 2003 and 2008... Mylan (MYL) struck a deal to buy Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in an all-stock transaction valued at about $5.3B. Under the terms of the deal, Abbott will carve out the assets and transfer them to a new public company organized in the Netherlands. Mylan will then merge with that company to become a new public company, called Mylan N.V., allowing it certain tax advantages. Abbott will receive 105M shares of the combined company, meaning it will hold an approximate 21% stake in Mylan following the deal. Shares of both companies advanced after the deal announcement, with Abbott gaining 1% and Mylan rising nearly 3%. MAJOR MOVERS: Shares of Apple (AAPL) rose 1.5% after Barclays upgraded its stock to Overweight and raised its price target for the shares to $110 from $95, citing channel checks that indicate near-term upside to consensus estimates and strong new products into 2015. The firm also said it believes troubles at Samsung are creating an opportunity for Apple to regain market share. Meanwhile, Morgan Stanley reported that its survey results suggests June quarter iPhone demand upside and the firm raised its iPhone unit estimate and its EPS estimate for the coming quarter above the consensus forecasts. Among the notable gainers with merger news was URS (URS), which rose about 11% after it announced this weekend that it agreed to be acquired by AECOM Technology (ACM) for a combination of cash and stock valued at approximately $4B, or $56.31 per URS share. Shares of the buyer also rose 7.5% after the announcement. Among the noteworthy losers was Harmonic (HLIT), which plunged 10.5% after the company's second and third quarter outlooks fell significantly short of analysts' consensus estimates. Also lower following its own profit warning was Riverbed (RVBD), which fell 5.5% after the company cut its second quarter adjusted EPS and revenue outlook. Afterward, activist investor Elliot Management reaffirmed its prior $21 per share bid for the company and urged the company's board to "immediately" retain an advisor and announce a review of strategic alternatives, including a sale. INDEXES: Near midday, the Dow was up 129.89, or 0.77%, to 17,073.70, the Nasdaq was up 31.62, or 0.72%, to 4,447.11, and the S&P 500 was up 11.13, or 0.57%, to 1,978.70.
News For C;AAPL;URS;RVBD;MYL;ABT;ACM;HLIT From The Last 14 Days
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April 7, 2015
11:06 EDTAAPLApple Watch reservations limited to one per customer, MacRumors reports
Apple Watch reservations will be limited to one per customer through the company's Reserve and Pickup service, reports MacRumors. Apple's one-per-customer reservation limit has been confirmed to be in place in the United States and United Kingdom, and likely other launch countries. Reference Link
11:02 EDTCAmerican Express slips after analyst, columnist highlight challenges
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10:19 EDTMYLHigh option volume stocks
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09:52 EDTAAPLApple retail chief instructs staff to push Apple Store shoppers online, BI says
Apple retail chief Angela Ahrendts wants staff at Apple Stores to push customers to order the Apple Watch and the new MacBook online instead of buying in physical stores, Business Insider reports, citing a memo. The memo notes that "This is a significant change in mindset" and will help ensure guaranteed delivery of the Apple products. Reference Link
09:35 EDTAAPLActive equity options trading on open
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07:32 EDTMYLMylan launches Norethindrone and Ethinyl Estradiol Tablets in U.S.
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07:16 EDTCRising competition may make AmEx targets hard to achieve, WSJ says
Though American Express recently reaffirmed its long-term targets for growing revenue 8% per year or better and earnings per share by 12%-15% per year while increasing operating expenses by less than 3% per year, there are good reasons to be skeptical about its ability to hit those targets, according to The Wall Street Journal's "Heard on the Street" column. Competition from peer Visa (V) as well as big banks such as Citi (C) and Bank of America (BAC) may put pressure on AmEx’s margins and it is not safe to assume that the company will always fare as well on the Fed's stress tests as it just did, the report stated. Reference Link
06:46 EDTAAPLApple Pay, Google Wallet could see competition from CurrentC, Macworld says
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06:25 EDTAAPLMicrosoft close to have alternative to Apple Pay, Business Insider reports
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06:19 EDTAAPLApple quietly acquired Ottocat 'some time ago,' TechCrunch reports
Apple quietly bought Ottocat, a startup that has developed a system to organize apps on its app store based on "nested" categories, TechCrunch reports. Terms of the acquisition, which is said to have closed "some time ago," have not been disclosed. A version of Ottocat's system currently powers the "explore" tab in Apple's App Store, TechCrunch says. Reference Link
April 6, 2015
19:42 EDTAAPLSurvey of iPhone, iPad users indicates preference for Google search, BI says
48% of Apple (AAPL) iPhone and iPad users report that if Yahoo (YHOO) were to acquire default search engine rights for Apple's Safari browser, they would manually switch the default search back to Google (GOOG), reports Business Insider, citing a survey of roughly 500 Apple users by Goldman Sachs tech analysts. 4% of the surveyed users stated they would intentionally keep Yahoo as the default. Reference Link
19:33 EDTCRegulators enter headquarters of Citibank Argentina, Reuters says
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16:00 EDTAAPLOptions Update; April 6, 2015
iPath S&P 500 VIX Short-Term Futures down 51c to 24.53. Option volume leaders: AAPL TSLA VZ TWTR BIDU RIG NFLX AMZN KO PBR according to Track Data.
10:23 EDTAAPLApple Maps searches no longer showing just Yelp, AppleInsider reports
Searches on Apple (AAPL) Maps, which previously relied solely on Yelp (YELP) to provide reviews for local search, are now pulling results from TripAdvisor (TRIP) and Priceline's (PCLN) Booking.com, AppleInsider reported yesterday. Neither TripAdvisor or Booking.com are listed as sources on Apple's official Maps attribution webpage, but reviews with links to their respective webpages and apps are now appearing in Maps queries, the blog added. Shares of Yelp are down 1% to $46.67 in early trading. Reference Link
09:36 EDTAAPLActive equity options trading on open
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07:29 EDTAAPLApple Watch cannot launch in Switzerland due to patent issue, Reuters says
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06:20 EDTAAPLGarmin downgraded to Sell from Buy at Citigroup
Citigroup analyst Jeremy David downgraded Garmin two notches to Sell from Buy saying competitive pressures are likely to stall the growth of the company's GPS fitness watch business. He also thinks revenue trends in Garmin's Outdoor segment could disappoint as the year progresses. David expects Garmin to miss consensus earnings and revenue expectations in Q1 and views the Apple (AAPL) Watch launch as another potential negative catalyst for shares. He cut his price target for the stock to $42 from $68. Shares of the navigation and information device maker closed Thursday down 58c to $46.49 after Goldman Sachs downgraded the stock Neutral from Buy.
06:11 EDTAAPLSamsung expected to win A9 chip orders for next iPhone, Bloomberg reports
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April 5, 2015
16:56 EDTAAPLEU considers major probe into Internet platforms, WSJ says
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09:10 EDTAAPLApple Watch to be sold by appointment only, Barron's says
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