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Stock Market & Financial Investment News

News Breaks
June 18, 2014
04:55 EDTCHEF, CHEF, POOL, POOL, SSI, SSI, WMT, WMT, JAH, JAH, VOXX, VOXX, CVS, CVS, JACK, JACK, VSI, VSI, HT, HT, SPLS, SPLSJefferies to hold a conference
2014 Global Consumer Conference to be held in Nantucket, MA on June 18-19.
News For CHEF;HT;VSI;JACK;CVS;VOXX;JAH;WMT;SSI;POOL;SPLS From The Last 14 Days
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July 7, 2015
17:32 EDTCVSCVS resigns from Chamber of Commerce on tobacco concerns, NYT says
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07:03 EDTWMTWal-Mart to hold a summit
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July 6, 2015
17:23 EDTJACKNorthfield Bancorp to replace Jack in the Box in S&P 600 as of July 8
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17:22 EDTJACKJack in the Box to replace Advance Auto Parts in S&P 400 as of July 8
14:17 EDTWMTAmazon hopes to create new shopping holiday with 'Prime Day'
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11:16 EDTCVSAetna-Humana tie-up may present longer term opportunity for CVS, says JPMorgan
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06:25 EDTWMTWal-Mart to begin online grocery pickup service in Ottawa, Global and Mail says
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July 2, 2015
08:08 EDTWMTMcCormick should be bought on weakness, says Bernstein
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July 1, 2015
08:33 EDTVOXXVOXX announces multi-subsidiary OEM contract
VOXX announced its first ever, multi-subsidiary OEM contract. VOXXHirschmann will be supplying dual DVD head restraints and Klipsch Image ONE headphones in all 2015 and 2016 model year Cadillac Escalade Platinum Edition vehicles. While VOXX has been a market leader in automotive rear-seat entertainment for decades, this marks the first time Klipsch audio products will be used in the OEM space. This program began in January 2015, following the launch of the Cadillac Escalade Platinum, the next generation luxury SUV offered by Cadillac.
June 30, 2015
07:29 EDTWMTNon-profit group: Wal-Mart made deceptive ‘Made in the USA’ claims
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June 25, 2015
14:05 EDTSPLSStaples, Office Depot shares head lower as analyst highlights merger pitfalls
Shares of Staples (SPLS) and Office Depot (ODP) are in negative territory following a Citi research note identifying significant downside potential if their proposed merger is blocked. The note follows news on June 23 that a U.S. District Court has approved the preliminary injunction of the US Foods-Sysco (SYY) merger. WHAT'S NEW: In the wake of the FTC's preliminary injunction of the US Foods-Sysco deal, Citi's Kate McShane issued a note on the proposed merger of Staples and Office Depot. The FTC is expected to release a public version of its Sysco ruling this Friday, and McShane said details of the injunction could shed light on whether the Staples-Office Depot merger is likely to follow a similar path. The analyst sees a 40% and 49% downside scenario for Staples and Office Depot, respectively, were the merger to fail, versus a 20% upside for Office Depot shares if a successful outcome is reached. WHAT'S NOTABLE: The FTC stated on June 23 that the Sysco-US Foods merger "would lead to higher prices and diminished service," and U.S. District Judge Amit Mehta cited the probability of "substantially" reduced competition. Building on those pieces of information, Kate McShane notes that a merged Staples-Office Depot may only capture 15%-25% of the addressable market, in contrast to the 75% market share of a Sysco and US Foods combination. McShane cautioned that if she limits her analysis to just Fortune 100 companies, the 15%-25% figure would likely be higher, but refrains from stronger speculation on the probability of the deal closing. On June 24, the New York Post cited sources calling the merger "unlikely" after the Sysco injunction. As noted by Citi, if regulator sentiment swings against the office supply companies, shares could head sharply lower. PRICE ACTION: Staples is down 0.4% in afternoon trading, while Office Depot is down 0.3%.
08:50 EDTSPLSStaples has 20% upside if Office Depot deal closes, says Citi
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06:47 EDTSPLSStaples volatility low into expected closure of its merger with Office Depot
Staples (SPLS) July weekly call option implied volatility is at 23, July is a 22, September is at 28; compared to its 52-week range of 20 to 53, suggesting decreasing price movement into the expected closure of its proposed $6.3B merger with Office Depot (ODP).
June 24, 2015
09:10 EDTSPLSOn The Fly: Pre-market Movers
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08:33 EDTCVSCVS Health enters into four new clinical affiliations
CVS Health has entered into new clinical affiliations with Sutter Health in California, Millennium Physician Group in Florida, Bryan Health Connect in Nebraska and Mount Kisco Medical Group, PC in New York. Through these clinical affiliations, CVS Health will provide prescription and visit information to the participating health care organizations.
07:12 EDTSPLSStaples deal unlikely after Sysco-US Foods merger blocked, NY Post reports
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06:22 EDTWMTWal-Mart to charge fees to ‘almost all’ vendors, Reuters reports
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