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Stock Market & Financial Investment News

News Breaks
December 13, 2012
11:16 EDTTAP, LUK, IBM, CRM, WMB, RAI, HES, GS, VTR, KR, WFC, WU, T, HPQ, CNASDAQ canceling certain trades in several stocks including C, HPQ, T, others
NASDAQ announced it will cancel all trades greater than 10% away from the prior day’s consolidated closing price executed between 09:29:00 and 09:29:59 for the stocks listed below. NASDAQ will be canceling trades on the participants behalf. The stocks affected are as follows: "C" Trades at or below $33.77, "HPQ" trades at or below $13.07, "T" trades at or below $31.04, "WU" trades at or below $11.90, "WFC" trades at or below $30.15, "KR" trades at or below $23.93, "VTR" trades at or above $71.58, "GS" trades at or below $106.28 and "S" trades at or below $5.09. Trades in symbols HES, RAI, WMB, CRM, IBM, LUK and TAP will stand. NASDAQ said this decision cannot be appealed and MarketWatch has not coordinated this decision with other UTP Exchanges. Reference Link
News For C;HPQ;T;WU;WFC;KR;VTR;GS;HES;RAI;WMB;CRM;IBM;LUK;TAP From The Last 14 Days
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July 11, 2014
07:02 EDTRAIReynolds American confirms discussions about business combination
Reynolds American (RAI) confirms that it is in discussions with Lorillard (LO) regarding a possible acquisition of Lorillard. The discussions are consistent with RAI's strategy of considering a variety of options to enhance shareholder value. British American Tobacco, RAI's largest shareholder, is participating in these discussions. If the transaction proceeds, BAT expects to support the transaction by subscribing for additional shares in RAI and would maintain its existing 42% equity position in RAI. Imperial is also involved in these negotiations as a possible purchaser of brands and other assets from Lorillard and RAI. There is no assurance that any agreement will be reached by any of the parties. Unless circumstances dictate otherwise, RAI does not intend to comment further on these matters.
07:01 EDTRAILorillard confirms talks regarding potential acquisition by Reynolds American
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06:04 EDTRAIImperial confirms talks with Reynolds, Lorillard over asset acquisition
Imperial Tobacco (ITYBY) notes the recent speculation relating to a potential transaction involving Reynolds American (RAI) and Lorillard (LO). Imperial confirmed it is in discussions with Reynolds and Lorillard to evaluate a possible acquisition of certain assets and brands owned by Reynolds and Lorillard. Earlier today, Financial Times reported that Reynolds and Lorillard are close to a merger agreement.
05:54 EDTRAIReynolds American, Lorillard close to merger agreement, FT reports
According to the Financial Times, Reynolds American (RAI) and Lorillard (LO) are close to agreeing on a merger. The companies, which would have a combined market capitalization of $56B, have agreed with British American Tobacco (BTI), which holds a 42% stake in Reynolds, on key elements of the deal, including price. The companies are currently finalizing details on which production facilities and cigarette brands would be disposed of to ease antitrust concerns. Reference Link
July 10, 2014
18:02 EDTHPQWells sees 'shrinking list' of strategic buyers for Rackspace
Wells Fargo sees a "shrinking list" of potential buyers for Rackspace (RAX), with only remaining HP (HPQ) and CenturyLink (CTL) remaining in its opinion. Wells believes Rackspace going private through a leveraged buyout is a possibility, but it thinks such an outcome is a lower probability given the required return assumptions and implied exit multiple. The firm believes the market has correctly assumed a high probability that Rackspace will not undergo a strategic event. However, Wells thinks the potential for a value creating event limits downside in the name. It keeps an Outperform rating on the stock.
17:52 EDTRAIReynolds American initiated with a Market Perform at Cowen
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17:51 EDTRAILorillard initiated with an Underperform at Cowen
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15:49 EDTWFCWells Fargo July weekly 52 straddle priced for 2% move into Q2
15:13 EDTWFCNotable companies reporting before tomorrow's open
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13:24 EDTWFCEarnings Preview: Analysts divided on Wells Fargo ahead of results
Wells Fargo (WFC) is scheduled to report second quarter earnings before the open on Friday, July 11 with a conference call scheduled for 10:00 am ET. Wells Fargo is a bank holding company. EXPECTATIONS: Analysts are looking for EPS of $1.01 on revenue of $20.82B, according to First Call. The consensus range for EPS is 93c-$1.06 on revenue of $20.34B-$22.74B. LAST QUARTER: Wells reported stronger than expected first quarter results, as its net chargeooffs tumbled $594M year-over-year and its nonperforming assets sank 18% year-over-year. However, the bank’s revenue did decline to $20.6B, from $21.3B during the same period a year earlier. On May 20, Wells said that it was targeting a net payout ratio of 55%-75%. The bank defined net payout as dividend and share repurchases less issuances. The bank added that it would target return on equity of 12%-15%. Wells said it was "well-positioned for rising rates," and indicated that its competition was intensifying. On June 6, The New York Times reported that Wall Street's largest banks this year significantly cut the number of bonds they held, leaving them with a negative position in bonds in March, as they expected bond prices to drop, Since bond prices rose, a number of the large banks have said that their earnings would be hurt by this trade, the newspaper stated. STREET RESEARCH: In a note to investors on July 7, FBR Capital named Wells as one of its favorite names in the banking space. Wells is one of the banks that’s benefiting from above average loan growth while taking market share from its peers, according to the firm. Wells also has above-average growth prospects, high-quality earnings streams, and solid underlying fundamentals, FBR Capital stated. Conversely, Barron’s warned on June 30 that Wells’ stock looked pricey at $52.46. According to Barron’s, Macquarie predicted that the bank’s EPS growth was set to slow, while the stock rose more than it should have in the first half of 2014. Macquarie, which downgraded Wells to Underperform from Neutral on June 30, said that the bank’s core earnings had declined in the past four quarters, added Barron’s. Banks’ results remain challenging, as net interest income, fee revenues and core pre-provision earnings are all essentially unchanged since 2011, Oppenheimer wrote in a note to investors on July 7. Meanwhile, chargeoffs have likely hit bottom, the firm stated. But on a positive note, consumer lending is finally increasing and banks’ current expansion cycle likely has a few years to go, Oppenheimer believes. However, the firm kept a Perform rating on Wells Fargo. PRICE ACTION: Wells Fargo’s stock is up more than 14% this year and is not far from its 52-week high of $53.08.
09:13 EDTHPQHP Western Digital Seagate to benefit from PC rebound, says RBC Capital
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08:10 EDTHESMorgan Stanley's Vintage Values 2015 list selected
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07:47 EDTIBMIBM volatility up and into Q2
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07:46 EDTHPQHP awarded computing, servers contract by USAF
HP announced that the United States Air Force, or USAF, has issued a Quantum Enterprise Buy, or QEB, procurement for select HP business PCs and Workstations. Products that will be distributed as part of the procurement include a wide array of business desktop and notebook PCs, including the HP Compaq Pro 6305 SFF, HP Z230 Workstation, HP Z820 Workstation, HP ProBook 640 G1 and the HP ZBook Mobile Workstations. Products acquired through this QEB award will be distributed to USAF bases and facilities around the world.
06:52 EDTGSGoldman gains energy marketer Golender from Barclays, Reuters says
Goldman Sachs (GS) appointed oil marketer Roy Golender as vice president of energy sales from Barclays (BCS), according to Reuters citing a company spokesman. Golender's LinkedIn profile says that while at Barclays Golender spent four years in commodity derivatives sales. Reference Link
06:28 EDTWFCOptions expected to be active
Options expected to be active: LL PBPB VNO FDO WFC COST ZUMZ UAL BA
06:26 EDTHPQTablet quarterly shipments fall for first time to 56M on year, DigiTimes says
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06:20 EDTCCalifornia, New York among states to share in Citigroup settlement, LA Times say
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06:18 EDTHPQIDC: PC shipments in mature regions stabilizes market in Q2, DigiTimes
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05:24 EDTIBMIBM announces $3B cloud, big data systems research initiative
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