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Stock Market & Financial Investment News

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February 24, 2014
11:29 EDTCCOI, CMCSA, NFLX, AAPL, EBAY, YHOO, MSFT, VZ, LVLTCogent retreats after customer reaches deal with Comcast
Shares of Cogent Communications (CCOI) are sinking after one of the company's customers, Netflix (NFLX), announced yesterday that it had made an Internet connection deal with Comcast (CMCSA). Cogent enables companies, including Netflix, to stream content to customers of broadband providers such as Comcast. WHAT'S NEW: Under the deal between Netflix and Comcast, the movie rental service will stream its content to the cable giant's customers using Comcast's servers, according to The Wall Street Journal. ANALYST REACTION: In a note to investors earlier, today, FBR Capital analyst David Dixon responded to the news by downgrading Cogent to Underperform from Market Perform. Under the deal with Comcast, Netflix will "progressively migrate traffic away from Cogent," the analyst stated. Cogent could lose additional revenue if the company's other major content partners - including Apple (AAPL), eBay (EBAY), Yahoo (YHOO), and Microsoft (MSFT) - follow in Netflix's footsteps and conclude their own deals with end-user networks such as Comcast, wrote Dixon. Other access providers, including Verizon (VZ), are likely to make similar deals with content providers, leaving providers like Cogent on the sidelines unless they agree to pay the access providers, the analyst contended. Moreover, Cogent's prices continue to decline, Dixon reported. He has a $23 price target on the stock. PRICE ACTION: In mid-morning trading, Cogent sank 5.5%, or $2.23, to $38. Level 3 Communications (LVLT), which also enables content to be delivered over the Internet, moved into positive territory after opening trading to the downside.
News For CCOI;CMCSA;NFLX;AAPL;EBAY;YHOO;MSFT;VZ;LVLT From The Last 14 Days
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August 7, 2014
09:36 EDTAAPL, NFLX, VZActive equity options trading on open
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07:15 EDTCCOICogent extends stock buyback program
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07:14 EDTCCOICogent raises dividend 77% to 30c
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07:12 EDTCCOICogent reports Q2 EPS 3c, consensus 6c
Reports Q2 revenue $94.6M, consensus $95.60M.
06:43 EDTAAPLApple poaches YSL's Catherine Monier, 9to5Mac reports
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06:41 EDTNFLXNetflix CEO says has more subscription revenue than HBO
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06:33 EDTMSFTAnti-trust investigations in China reignite protectionism worries, Reuters says
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06:19 EDTAAPL, MSFTMicrosoft in talks to open Fifth Avenue store, Daily News reports
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August 6, 2014
16:01 EDTAAPL, NFLXOptions Update; August 7, 2014
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13:12 EDTCMCSAAT&T mulls buying CSN Houston, Bloomberg says
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11:28 EDTYHOO, NFLXYahoo appoints former Netflix executive Mike Kail as CIO
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09:36 EDTAAPL, VZActive equity options trading on open
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09:02 EDTLVLTLevel 3 added to Commonwealth of Massachusetts' network services contract
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08:44 EDTAAPLApple products excluded from Chinese government procurement list, Bloomberg says
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07:49 EDTYHOOcomScore price target raised to $44 from $40 at Brean Capital
Brean Capital raised its price target on comScore (SCOR) to $44 from $40 as they believe the company is well positioned for an acceleration in fundamentals. The firm expects its recent years of investment to impact their online business as the integration of Yahoo (YHOO) vCE is up and running and Google (GOOG) is expected to be completed by the end of Q3, leading to an acceleration of top line growth. Brean maintains its Buy rating on comScore.
06:38 EDTMSFTAccenture says complying with SAIC in Microsoft probe, Reuters says
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06:35 EDTMSFTSAIC enacts fresh raids on Accenture, Microsoft, Reuters says
China's State Administration for Industry and Commerce said on its website that it conducted fresh raids on Microsoft (MSFT) and Accenture (ACN) after the firm noted last week that Microsoft is being probed for anti-trust crimes, according to Reuters, citing an e-mail statement from a Beijing-based Microsoft spokeswoman. Reference Link
06:17 EDTMSFTAlibaba courting Nokia employees on website, WSJ reports
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06:09 EDTAAPLApple, Samsung to drop all litigation outside U.S., Re/code reports
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06:06 EDTEBAYStubHub launching Music app nationwide, AP reports
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