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Stock Market & Financial Investment News

News Breaks
July 14, 2014
12:21 EDTHLIT, MYL, AAPL, ACM, RVBD, C, ABT, URSOn 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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February 19, 2015
16:01 EDTAAPLOptions Update; February 19, 2015
iPath S&P 500 VIX Short-Term Futures down 70c to 30.11. Option volume leaders: AAPL TSLA TWTR AMAT PBR KO FB AXP NFLX according to Track Data.
12:58 EDTAAPLRecent Apple hires have backgrounds in automotive hardware, 9to5Mac says
Many of the automotive experts poached by Apple (AAPL) come from automotive hardware backgrounds, strongly hinting at development beyond automotive software, reports 9to5Mac, citing sources close to the company. The new hires have backgrounds in motor and gearbox design, safety components, transmissions, power trains, drive trains, electric vehicle batteries, hybrid vehicles, interior vehicle components, and other areas. Reference Link
11:51 EDTAAPLCiti, RBC lay out reasons to be bullish on Apple
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11:06 EDTHLITHarmonic management to meet with Jefferies
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09:35 EDTAAPLOption volume leaders
Option volume leaders: AAPL TSLA TWTR MCD WMT PBR SPWR WFM GILD FB SCTY according to Track Data.
08:50 EDTAAPLApple could return $150B-$200B to shareholders, says RBC Capital
RBC Capital believes that Apple could return $150B-$200B to its shareholders over the next three years. The firm expects the company to return 100% of its annual free cash flow to shareholders. It raised its price target on the name to $140 from $130 and keeps an Outperform rating on the stock.
08:21 EDTAAPLApple Pay faces resistance from China, MarketWatch says
Apple (AAPL) is attempting to launch Apple Pay in China, but a People's Bank of China official stated the company has not acknowledged regulators and "it's unclear whether the product meets the government’s requirements,” while talks with state-owned card payment operator UnionPay "have stalled" according to sources close to the companies, reports MarketWatch. Alibaba (BABA) currently operates the similar Alipay service and an Alibaba employee stated the two companies "have stayed in contact and are preparing for several projects," but because all payments go through UnionPay, Apple's entry into the market is ultimately controlled by the state-owned firm. The Chinese government has raised numerous concerns regarding Apple Pay, and is demanding the company open a mainland China data center to house customer information. Reference Link
08:15 EDTAAPLWarner Bros. exec says not in talks with Apple on streaming, Re/code reports
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06:47 EDTCReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:39 EDTAAPLA123 Systems sues Apple for poaching employees, WSJ reports
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06:22 EDTAAPLCiti lists five reasons for why Apple shares are going higher
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February 18, 2015
16:00 EDTAAPLOptions Update; February 18, 2015
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09:37 EDTAAPL, COption volume leaders on open
Option volume leaders: AAPL TSLA TWTR CELG APO NFLX AXP APA LNKD C GILD according to Track Data.
08:41 EDTMYLThe Medicines Co. says not giving financial guidance due to Hospira suit
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08:11 EDTCCiti announces $100b, 10-year commitment to finance sustainable growth
Citi announced a landmark commitment to lend, invest and facilitate a total of $100B within the next 10 years to finance activities that reduce the impacts of climate change and create environmental solutions that benefit people and communities. Citi’s previous $50B goal was announced in 2007 and was met three years early in 2013. With this $100B initiative, Citi will build on its leadership in renewable energy and energy efficiency financing to engage with clients to identify opportunities to finance greenhouse gas reductions and resource efficiency in other sectors, such as sustainable transportation.
07:59 EDTAAPLBlackBerry files copyright lawsuit against Typo Products, AP says
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07:21 EDTCJPMorgan, Citi top government report of riskiest banks, Reuters reports
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06:52 EDTAAPLApple could bringing Touch ID to Mac, 9to5Mac says
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06:45 EDTAAPLApple Watch launching without health monitoring functions, WSJ says
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06:20 EDTAAPLApple awarded patent for wireless head-mounted display, Financial Times reports
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