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Stock Market & Financial Investment News

News Breaks
June 25, 2014
16:24 EDTAERI, SBGI, VLO, PXD, MPC, GTN, ICPT, NXST, TSO, HFC, MEG, PVA, CBS, EPD, PSXOn The Fly: Closing Wrap
Stocks on Wall Street were higher despite a disappointing downward revision to the government's estimate of economic growth, or rather the lack thereof, in the first three months of the year. Stocks began the session in negative territory following the GDP and durable goods reports, but the major averages soon turned mixed and had all moved back across the flat-line by mid-morning. The market then stalled and drifted for several hours, but moved to the high end of its trading range near the end of the day. 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: A number of television network owners, most notably CBS (CBS), as well as several tv station owners advanced after the Supreme Court ruled that Aereo, a start-up service that streams tv shows over the Internet, had violated copyright laws. CBS rose $3.64, or 6.19%, to $62.48 following the ruling, while Nexstar Broadcasting (NXST) surged $5.80, or 13.49%, to $48.81, Sinclair Broadcast Group (SBGI) soared $4.56, or 15.6%, to $33.80, Media General (MEG) added $1.86, or 10.07%, to $20.33 and Gray Television (GTN) gained 94c, or 8.35%, to $12.20... Shares of a number of refiners, including Valero Energy (VLO), HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX), and Tesoro (TSO), were among the day's worst performers after the Commerce Department gave Pioneer Natural Resources (PXD) and Enterprise Products Partners (EPD) permission to export a light, processed form of oil called condensate. White House press secretary Josh Earnest said there have been no changes to the U.S. oil export policies, according to Bloomberg, but the move was widely viewed as a shift and a possible precursor to bigger changes on the horizon amid the shale energy revolution in the U.S. MAJOR MOVERS: Among the notable gainers was Aerie Pharmaceuticals (AERI), which rose $5.95, or 28.29%, to $26.98 after a trial of its once-daily glaucoma eye drop, Roclatan, achieved its primary efficacy endpoint. Also higher was Penn Virginia (PVA), which jumped $1.83, or 12.39%, to $16.60 after a major shareholder, the Soros Fund, called on the company to sell itself. Among the noteworthy losers was Intercept Pharmaceuticals (ICPT), which fell $19.96, or 7.3%, to $253.65 after the company said at a conference that data from the FLINT trial of the company's obeticholic acid for the treatment of nonalcoholic steatohepatitis is "unlikely" to come in July. Also lower were shares of cereal maker General Mills (GIS), which fell $1.94, or 3.61%, to $51.76 after the company's fourth quarter results missed analysts' consensus estimates. INDEXES: The Dow was up 49.38, or 0.29%, to 16,867.51, the Nasdaq was up 29.40, or 0.68%, to 4,379.76, and the S&P 500 was up 9.55, or 0.49%, to 1,959.53.
News For CBS;NXST;VLO;PVA;ICPT;SBGI;MEG;GTN;AERI;HFC;MPC;PSX;TSO;PXD;EPD From The Last 14 Days
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May 13, 2015
11:12 EDTEPDEnergy MLPs weak despite Williams deal for Williams Partners
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07:16 EDTNXSTMoffett Nathanson to hold a summit
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May 12, 2015
15:35 EDTSBGISinclair Broadcast announces distribution deal with Chideo
Chideo announced a first-of-its-kind partnership with Sinclair Broadcast Group to expand Chideo's reach by 42 million households. Through this unique distribution deal, Sinclair will connect its broadcast and digital audience with Chideo's inspirational and entertaining content all to benefit the world's leading charities. Sinclair's 161 local television stations will provide much-needed public awareness for these causes, as well as direct financial support from the sale of advertising and sponsorships around Chideo's rich collection of exclusive content from more than 100 celebrity ambassadors.
14:46 EDTMPCKentucky AG files suit against Marathon Petroleum over anticompetitive practices
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09:33 EDTMPCMarathon Petroleum repeats FY15 capital expenditure view of $2.5B
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09:14 EDTCBSApps World to hold a conference
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08:31 EDTCBSApple likely to launch TV video service this year, says Pacific Crest
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08:04 EDTPSX, PXDCitigroup to hold a conference
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07:06 EDTCBSCBS management to meet with UBS
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06:41 EDTCBSTV networks touting digital, targeting technologies to marketers, NY Times says
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May 11, 2015
16:26 EDTPVAPenn Virginia sees 2015 product revenue $320M-$3540M vs. previous $312M-$343M
For 2015, production is expected to be 23,800 to 26,200 BOEPD, unchanged from previous guidance.
16:25 EDTPVAPenn Virginia reports Q1 EPS (62c), consensus (42c)
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15:00 EDTPVANotable companies reporting after market close
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08:21 EDTPSXMitsubishi UFJ to hold a tour
Energy Tour travels throughout Houston and San Antonio, Texas to meet with various energy companies on May 11.
08:04 EDTPXDCredit Suisse to hold a symposium
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06:33 EDTCBSTV networks worried amid tough competition from digital outlets, NY Times says
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06:10 EDTICPTIntercept reports Q1 EPS ($1.78), consensus ($1.69)
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06:04 EDTPSXCalifornia AG announces $11.5M settlement with ConocoPhillips, Phillips 66
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May 10, 2015
18:05 EDTCBSFCC contract ruling may speed review of AT&T-DirecTV merger, WSJ says
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13:37 EDTPSXPhillips 66 stock could rise 15% to $90 in coming months, Barron's says
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