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Stock Market & Financial Investment News

News Breaks
April 14, 2014
16:24 EDTC, AKBA, EW, RTRX, GDP, TWTR, NQ, MDTOn The Fly: Closing Wrap
Stocks on Wall Street were higher after U.S. retail sales for March surprised to the upside. The averages spent much of the session higher before losing altitude during the afternoon, with the Nasdaq even turning negative near 3:00 pm ET. An aggressive rally took hold in the final 30 minutes of trade, with the indexes closing just off their best levels of the day. ECONOMIC EVENTS: In the U.S., retail sales climbed 1.1% in March, beating expectations for an increase of 0.8%. Retail sales excluding autos rose 0.7%, which also beat estimates. Business inventories grew 0.4% in February, versus the consensus forecast for a 0.5% gain. In Europe, industrial production across the 18 country shared currency bloc rose by 0.2% in February from the prior month and by 1.7% from the same month of the prior year. COMPANY NEWS: Citigroup (C) gained $1.99, or 4.36%, to $47.67 after its adjusted first quarter earnings easily beat the consensus forecast. CEO Michael Corbat said the company delivered strong results despite a quarter "that was difficult," which included the bank surprisingly having its capital plan rejected by the Federal Reserve and the disclosure of fraud in its Mexican unit... Twitter (TWTR) shares held up better than they have in recent sessions after its co-founders, Jack Dorsey and Evan Williams, along with CEO Richard Costolo, disclosed that they have no plans to sell any of their shares as part of the May 5 lockup expiration... Edwards Lifesciences (EW) gained $8.03, or 11.0%, to $81.00 after being granted a preliminary injunction limiting the sale of Medtronic's (MDT) CoreValve system in the U.S. due to patent infringement. The ruling triggered upgrades of Edwards' shares from at least two analyst firms. Medtronic, which received at least one downgrade following the news, slipped $1.12, or 1.89%, to $58.08. MAJOR MOVERS: Among the notable gainers was Goodrich Petroleum (GDP), which surged $5.56, or 30.22%, to $23.96 after the company reported strong results for a well it drilled in Louisiana. Also higher was Akebia (AKBA), which rose $4.28, or 25.39%, to $21.14 after no fewer than four analyst firms initiated coverage on the shares with a Buy or equivalent rating. Among the noteworthy losers was NQ Mobile (NQ), which fell another $1.65, or 12.99%, to $11.05, adding to the 20% decline it suffered Friday after the company disclosed accounting errors along with its mixed earnings report. Short-seller Muddy Waters, which revealed a public short position on NQ in October, released a report today saying NQ's disappointing quarter was driven by heightened auditor scrutiny. Also lower Retrophin (RTRX), which dropped $2.35, or 15.3%, to $13.01 despite raising its fiscal 2014 revenue view after announcing that the FDA is unwilling to grant expedited access for children to the company's RE-024 treatment. INDEXES: The Dow was up 146.49, or 0.91%, to 16,173.24, the Nasdaq was up 22.96, or 0.57%, to 4,022.69, and the S&P 500 was up 14.92, or 0.82%, to 1,830.61.
News For C;TWTR;EW;MDT;GDP;AKBA;NQ;RTRX From The Last 14 Days
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January 13, 2015
15:07 EDTCSpringleaf conducts due dillegence on OneMain, Bloomberg reports
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13:12 EDTTWTRTwitter February volatility elevated at 63
Twitter January call option implied volatility is at 49, January weekly is at 48, February is at 63; compared to its 26-week average of 54 according to Track Data, suggesting large near term price movement.
12:27 EDTCDOJ, EPA report proposed settlement regarding cleanup of Warren County, NJ site
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11:04 EDTCCitigroup January volatility elevated into Q4 and outlook
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09:36 EDTCActive equity options trading
Active equity options trading according to Track Data: AAPL AMD AA TWTR GILD C CELG TSLA GOOG
07:44 EDTCNationstar, non-bank lenders could get boost from refis, WSJ says
As a decline in interest rates and a reduction in federal loan fees boosts refinancing activity, smaller banks and non-bank lenders, such as Quicken Loans, loanDepot, and Nationstar Mortgage (NSM), may be in a better position than large banks to benefit, said The Wall Street Journal. Publicly traded large U.S. banks include Bank of America (BAC), Citi (C), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:44 EDTGDPBMO Capital to hold a forum
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07:16 EDTRTRXRetrophin management to meet with Deutsche Bank
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06:38 EDTCCiti cut consumer banking business, Reuters reports
Citi is cutting its consumer banking operations in some of the world's largest cities, according to Reuters. Last year, the bank decided to target 100 cities with retail banking services, down from its previous level of 120 cities, the news service stated. Reference Link
January 12, 2015
16:00 EDTTWTR, COptions Update; January 12, 2015
iPath S&P 500 VIX Short-Term Futures up 1.57 to 33.54. Option volume leaders: AAPL TSLA TWTR AMZN AA SIRI RIG FRO C according to Track Data.
15:43 EDTTWTRTwitter in talks to acquire ZipDial of India, TechCrunch reports
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13:02 EDTMDTMedtronic sees Coviden deal closing in last week of January, early February
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10:00 EDTGDPOn The Fly: Analyst Downgrade Summary
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09:34 EDTTWTRActive equity options trading
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08:49 EDTGDPGoodrich Petroleum downgraded to Underweight from Overweight at Stephens
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08:22 EDTCCiti may have more to gain than JPMorgan from break-up, WSJ says
Analysts have suggested that JPMorgan (JPM) could unlock investor value by breaking-up, but a Citigroup (C) break-up, while complicated, could be more compelling, according to The Wall Street Journal's "Heard on the Street" column. Reference Link
08:08 EDTRTRXRetrophin aquires exclusive right to purchase cholic acid from Asklepion
Retrophin and Asklepion Pharmaceuticals, LLC, a privately held rare disease pharmaceutical development company, today announced the signing of a definitive agreement under which Retrophin has acquired the exclusive right to purchase from Asklepion, all worldwide rights, titles, and ownership of cholic acid for the treatment of bile acid synthesis defects, if approved by the U.S. FDA. Under the terms of the agreement, Retrophin will pay Asklepion an upfront payment of $5M and up to $73M in milestones based on approval and net product sales, plus tiered royalties on future net sales of cholic acid. Retrophin has secured a line of credit from current lenders to cover necessary payments. Cholic acid is being considered for approval in a late-stage review by the FDA and is currently approved in Europe for the treatment of inborn errors in primary bile acid synthesis. It restores endogenous bile acid pool levels while inhibiting abnormal bile acid synthesis. The clinical use of cholic acid has been documented in medical literature for several single enzyme bile acid synthesis defects since the mid-1990s.
07:41 EDTCLarge banks' weakness creates attractive entry point, says Wells Fargo
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07:17 EDTRTRXRetrophin management to meet with Deutsche Bank
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06:05 EDTGDPStocks with implied volatility movement; SAN GDP
Stocks with implied volatility movement; Banco Santander (SAN) 33, Goodrich Petroleum (GDP) 165 according to iVolatility.
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