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Stock Market & Financial Investment News

News Breaks
December 5, 2012
12:32 EDTP, TOT, TRV, AAPL, FCX, MFRM, CIE, BAC, PXP, C, SVU, JPM, FB, MMROn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, as the financials lead the Dow higher and Apple (AAPL) weighed on the Nasdaq. A number of factors, including Facebook's (FB) upcoming inclusion in the Nasdaq 100 and reports of increased margin requirements on its stock, may have contributed to Apple's slide of over 4%. Conversely, strength in Bank of America (BAC), Travelers (TRV) and JP Morgan (JPM) powered the blue chip index higher... ECONOMIC EVENTS: In the U.S., payroll processor ADP said employers added 118,000 jobs last month, which was below analysts' forecasts, but the chief economist at Moody's Analytics estimated Superstorm Sandy cut the total by 86,000 jobs. The Labor Department revised its estimate for Q3 productivity growth up to an annual rate of 2.9% from its initial estimate of 1.9%. Labor costs in the quarter dropped at a rate of 1.9%, which was more than the 0.1% dip initially estimated. Factory orders rose 0.8% in October, versus expectations for them to be flat, and the ISM non-manufacturing PMI rose to 54.7, versus expectations for it to slip to 53.5. In China, stocks bounced back from multi year lows as the government allowed insurers to invest more in banks and its new leaders made comments that were viewed favorably... COMPANY NEWS: In a bold step by its new CEO, Citigroup (C) announced it will cut about 4% of its workforce, or 11,000 jobs, with about 6,200 coming from its consumer banking unit and about 1,900 coming from the institutional clients group, which includes investment banking. Citi sees pre-tax charges of around $1B in Q4 due to the restructuring but expects the cuts to save $900M next year and slightly more after that. Citi shares jumped nearly 6% following the news... In a huge deal that takes Freeport McMoRan (FCX) from being a metals pure play and back to its roots as a diversified commodities producer, the company agreed to repurchase McMoRan Exploration (MMR) for $14.75 per share in cash and to acquire Plains Exploration (PXP) for $6.9B in cash and stock. Following the news, which was broken last night by Financial Times, shares of Freeport plunged 13%, while McMoRan Exploration surged 82% and Plains jumped 26%.. MAJOR MOVERS: Among the notable gainers were Cobalt International Energy (CIE), up nearly 15% after announcing a Gulf of Mexico discovery in partnership with Total (TOT), and SuperValu (SVU), up over 9% following a report that the company may be close to selling its two biggest grocery chains to a private equity firm. Among the noteworthy losers were Mattress Firm (MFRM), down 21%, and Pandora (P), down 17% following their quarterly reports... INDICES: Near noon, the Dow was up 104.41, or 0.81%, to 13,056.19; the Nasdaq was down 12.63, or 0.42%, to 2,984.06; and the S&P 500 was up 4.66, or 0.33%, to 1,411.71.
News For C;FCX;MMR;PXP;AAPL;FB;BAC;TRV;JPM;CIE;TOT;SVU;MFRM;P From The Last 14 Days
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December 5, 2014
06:03 EDTAAPLiOS mobile traffic shows iPhone 6 launch strong, says Piper Jaffray
Piper Jaffray says that according to Quantcast data, Apple's (AAPL) iOS mobile traffic share increased from 60.6% at iPhone 6 launch to 61.4% nine weeks after launch, while Google's (GOOG) Android decreased from 38.4% to 37.5% in the same period. Piper views the iOS mobile traffic share as further evidence that the iPhone 6 launch in the U.S. is off to a strong start. It keeps an Overweight rating on Apple shares with a $135 price target.
December 4, 2014
16:00 EDTFB, AAPLOptions Update; December 4, 2014
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13:39 EDTFBTarget executive says tough to choose between TV, Facebook, BI reports
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09:37 EDTAAPL, PActive equity options trading
Active equity options trading according to Track Data: AAPL ALTR P BIDU AMZN TSLA X NFLX TWTR WMT
09:29 EDTFCXFreeport McMoRan says conducting review of capital expenditures
Freeport-McMoRan announced the company is conducting a review of capital expenditures and other costs in response to the recent decline in oil prices. The review includes evaluation of opportunities to reduce or defer expenditures and potential partnership arrangements. FM O&G has identified multiple additional development opportunities in the Green Canyon area that could be tied back to the Holstein facility and multiple development opportunities in the Marlin area that could be tied back to the Marlin facility. These projects were previously incorporated in the company’s estimates of production and capital expenditures.
08:13 EDTFCXFreeport McMoRan announces drilling results from Holstein Deep and Dorado wells
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07:38 EDTCMorgan Stanley Citigroup gaining share in capital markets, says Wells Fargo
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07:16 EDTBACConsumer Federation of America to hold a conference
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06:43 EDTFBFacebook and ESET announce partnership to fight malware
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06:02 EDTBACStocks with implied volatility movement; BAC AMZN
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December 3, 2014
16:00 EDTC, AAPL, FBOptions Update; December 3, 2014
iPath S&P 500 VIX Short-Term Futures down 45c to 26.52. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX C GILD RIG ABX according to Track Data.
12:33 EDTTOTOil producers to push agenda in DC next year, Politico says
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11:35 EDTFBStocks with call strike movement; ANF FB
Abercrombie & Fitch (ANF) May 35 call option implied volatility decreased 13% to 34, Facebook (FB) March 82.5 call option implied volatility increased 2% to 32 according to IVolatility.
10:41 EDTJPMPresident Obama to speak to members of the Business Roundtable
President Obama speaks to members of the Business Roundtable, including CEO Dimon of JPMorgan, CEO Spiegel of Siemens, CEO Tillerson of Exxon Mobil and CEO Wilderotter of Frontier Communications on December 3 at 11:15 am. Webcast Link
09:35 EDTAAPLActive equity options trading
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09:23 EDTAAPLOn The Fly: Pre-market Movers
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08:05 EDTAAPLApple price target raised to $150 from $135 at JMP Securities
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07:20 EDTJPMThe Economist to hold a summit
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07:14 EDTFBBusiness Insider to hold a conference
Business Insider IGNITION 2014 Conference is being held in New York on December 1-3 with webcasted company presentations to begin on December 3 at 8 am; not all company presentations may be webcasted. Webcast Link
07:10 EDTTOTTotal volatility at upper end of 30-month range
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