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Stock Market & Financial Investment News

News Breaks
June 25, 2014
12:33 EDTHFC, SBGI, DIS, BKS, CBS, EPD, VLO, FOXA, ZU, NXST, PXD, MEG, CMCSA, MON, IACIOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite the U.S. sharply lowering its view of how the economy performed in the first quarter of this year. The market opened lower following the disappointing GDP revision, as well as a lower than expected durable goods report, but the averages soon turned mixed and all moved into positive ground by about 11 am ET, where they have been drifting since. ECONOMIC EVENTS: In the U.S., the Bureau of Economic Analysis released its third and final estimate of real gross domestic product for the first quarter. The government now estimates that output in the U.S. declined at an annual rate of 2.9%, which was worse than the prior estimate of 1% contraction and significantly down from the fourth quarter of 2013, when real GDP grew 2.6%. The estimate of Q1 personal spending growth was knocked down to a 1.0% clip from the prior 3.1% pace. Durable goods orders dropped 1.0% in May, versus expectations for them to have been unchanged. Markit's services PMI surged to a record 61.2 for the flash June reading from May's 58.1 figure. COMPANY NEWS: Shares of a number of television network owners, most notably CBS (CBS), advanced after the Supreme Court ruled that Aereo, a start-up service backed by the Barry Diller-controlled IAC (IACI) that streams tv shows over the Internet, had violated copyright laws. Following the high court ruling, which overturned a lower court judgment on the matter, CBS rose more than 4%, while Disney (DIS), which owns ABC Network, 21st Century Fox (FOXA), the owner of Fox, and Comcast (CMCSA), which owns NBC, all advanced about 1%. Shares of tv station owners reacted even more favorably, with Nexstar (NXST) surging 15%, Sinclair (SBGI) rising 14% and Media General (MEG) gaining 10%... Shares of Barnes & Noble (BKS) rose 4% after the bookseller announced that its board authorized management to separate its Retail and Nook Media divisions and the company reported better than anticipated fourth quarter revenue. MAJOR MOVERS: Among the notable gainers was Monsanto (MON), which advanced 5% after the company reported better than expected Q3 results, raised its full year EPS outlook to the upper end of its previous guidance range and announced a new $10B share repurchase authorization. Also higher was zulily (ZU), which rose over 10% after Goldman Sachs upgraded the stock to Buy, citing the recent pullback in shares and expectations for higher than expected customer growth into 2015. Among the noteworthy losers was Valmont Industries (VMI), which fell 7% after the company lowered its fiscal 2014 earnings per share outlook. Also lower were a number of refiners, including Valero (VLO), which was down 10%, and HollyFrontier (HFC), which slid 8%, after the U.S. reportedly reclassified condensate as a processed product and gave Pioneer Natural Resources (PXD) and Enterprise Products Partners (EPD) permission to export the type of oil to foreign buyers. INDEXES: Near midday, the Dow was up 23.20, or 0.14%, to 16,841.33, the Nasdaq was up 9.79, or 0.23%, to 4,360.15, and the S&P 500 was up 4.14, or 0.21%, to 1,954.12.
News For CBS;IACI;NXST;BKS;MON;ZU;DIS;CMCSA;FOXA;SBGI;MEG;VLO;HFC;PXD;EPD From The Last 14 Days
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January 15, 2015
16:19 EDTFOXA21st Century Fox initiated with a Buy at Stifel
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15:18 EDTEPD, PXDPioneer pipeline unit draws interest from multiple bidders, Bloomberg says
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15:06 EDTPXD, EPDPioneer pipeline unit said to draw interest, Bloomberg says
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13:20 EDTMONMonsanto gets U.S. approval for engineered soybean, cotton seeds, WSJ reports
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07:52 EDTFOXA'Avatar' sequel pushed back to 2017, AP says
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05:53 EDTHFCHollyFrontier management to meet with Guggenheim
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January 14, 2015
07:42 EDTZUEtsy looking to raise $300M with IPO as soon as this quarter, Bloomberg says
Etsy, which operates a website that allows people to sell handmade crafts, is working with Goldman Sachs (GS) and Morgan Stanley (MS) on an initial public offering that could come as soon as this quarter, said Bloomberg, citing people familiar with the matter. Etsy seeks to raise $300M via the offering, the report said. Publicly traded companies in the e-commerce space include Amazon.com (AMZN), eBay (EBAY), Alibaba (BABA) and zulily (ZU). Reference Link
06:28 EDTCBSViacom downgraded to Sell from Buy at Citigroup
Citigroup downgraded Viacom (VIAB) two notches to Sell from Buy and lowered its price target for shares to $62 from $88. Citi says its new price target assumes a 50% probability that DISH (DISH) drops Viacom's channels. The firm sees 30% share downside risk should such an event occur. Citi lists two potential M&A deals that could offset the downside risk: Viacom acquiring CBS (CBS), which it feels would be neutral for the stock, or another media firm acquiring Viacom, which it feels could drive 20% upside for Viacom shares. Citi assumes a 10% probability of Viacom getting bought out.
January 13, 2015
14:04 EDTDISCalifornia connects 26 measles cases to Disneyland, Reuters says
Health officials in California have confirmed additional cases of measles in people who attended Disneyland (DIS) last month, increasing the number of people infected to 26, Reuters reports. Reference Link
11:58 EDTDISESPN sets cable ratings record for college championship game, Variety says
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10:00 EDTVLOOn The Fly: Analyst Upgrade Summary
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07:22 EDTVLOValero upgraded to Overweight from Neutral at JPMorgan
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January 12, 2015
15:49 EDTCMCSAGaiam partners with Comcast to launch Gaiam TV Fit & Yoga
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12:02 EDTMONUSDA cuts 2014 corn output estmate on lower yields
In its latest World Agricultural Supply and Demand Estimates, or WASDE, report, the U.S. Department of Agriculture said its U.S. feed grain supplies for 2014/15 are now projected lower, with a reduction in corn production more than offsetting an increase in sorghum. Corn production is estimated 191M bushels lower, though yield and production both remain records, USDA noted. Publicly traded companies in the space include Agrium (AGU), Andersons (ANDE), Archer Daniels (ADM), Bunge (BG), CF Industries (CF), Compass Minerals (CMP), DuPont (DD), Intrepid Potash (IPI), Monsanto (MON), Mosaic (MOS), Potash (POT) and Syngenta (SYT). Reference Link
10:00 EDTCBSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Agnico-Eagle (AEM) upgraded at BMO Capital... Aimco (AIV) upgraded to Outperform from Market Perform at Wells Fargo... Alaska Air (ALK) upgraded at Evercore ISI... Alcoa (AA) upgraded to Buy from Neutral at Nomura... Alon USA Energy (ALJ) upgraded to Neutral from Sell at Goldman... AvalonBay (AVB) upgraded to Buy from Hold at Jefferies... BASF (BASFY) upgraded to Buy from Neutral at Citigroup... C.H. Robinson (CHRW) upgraded to Overweight from Equal Weight at Barclays... CBS (CBS) upgraded to Outperform at Cowen... Chesapeake (CHK) upgraded to Buy from Neutral at Goldman... China Mobile (CHL) upgraded to Buy from Hold at Jefferies... Chunghwa Telecom (CHT) upgraded to Neutral from Underweight at ... D.R. Horton (DHI) upgraded at KeyBanc... Daimler AG (DDAIF) upgraded to Neutral from Underperform at BofA/Merrill... Diamond Resorts (DRII) upgraded to Buy from Neutral at Goldman... FMC Corporation (FMC) upgraded to Buy from Neutral at BofA/Merrill... First Cash Financial (FCFS) upgraded to Buy from Neutral at Janney Capital... Frontier Communications (FTR) upgraded at BofA/Merrill... HomeAway (AWAY) upgraded to Outperform from Neutral at Macquarie... Ingersoll-Rand (IR) upgraded at Morgan Stanley... KB Home (KBH) upgraded to Outperform from Market Perform at Raymond James... Knight Transportation (KNX) upgraded to Overweight from Equal Weight at Barclays... LabCorp (LH) upgraded to Outperform at RW Baird... M.D.C. Holdings (MDC) upgraded to Outperform from Market Perform at Raymond James... Mid-America Apartment (MAA) upgraded to Buy from Hold at Jefferies... PACCAR (PCAR) upgraded at RBC Capital... Parsley Energy (PE) upgraded to Neutral from Sell at Goldman... Peugeot (PUGOY) upgraded to Buy from Underperform at BofA/Merrill... Radware (RDWR) upgraded to Buy from Neutral at Buckingham... Rush Enterprises (RUSHA) upgraded at BB&T... Ryland Group (RYL) upgraded to Outperform from Market Perform at Raymond James... SL Green Realty (SLG) upgraded to Buy from Hold at Jefferies... Solera (SLH) upgraded to Buy from Neutral at Goldman... Standard Pacific (SPF) upgraded to Neutral from Underweight at JPMorgan... Statoil (STO) upgraded to Neutral from Sell at Goldman... Syngenta (SYT) upgraded to Buy from Hold at Miller Tabak... VMware (VMW) upgraded to Positive from Mixed at OTR Global... Vale (VALE) upgraded to Outperform from Sector Perform at Scotia Capital... Volvo (VOLVY) upgraded to Neutral from Underperform at BofA/Merrill... Windstream (WIN) upgraded at BofA/Merrill... lululemon (LULU) upgraded to Neutral from Underperform at Sterne Agee.
09:15 EDTDIS, FOXA'Taken' seqeul knocks 'Hobbit' from top spot at box office, WSJ reports
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08:02 EDTCBSCBS upgraded to Outperform at Cowen
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07:44 EDTCBSCBS upgraded to Outperform from Market Perform at Cowen
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07:38 EDTVLOValero valuation likely to rise, says Wells Fargo
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January 11, 2015
16:08 EDTFOXARentrak says 21st Century Fox's Taken 3 wins weekend box office
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