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Stock Market & Financial Investment News

News Breaks
September 4, 2013
09:14 EDTSAI, JCP, ETFC, FRAN, LOGI, LNKD, GWRE, ROCM, DG, HRB, NAV, GIII, VRNT, BCR, BRCM, CIENOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Ciena (CIEN), up 9%... Dollar General (DG), up 4%... G-III Apparel (GIII), up 4%... Verint Systems (VRNT), up 7%. ALSO HIGHER: Rochester Medical (ROCM), up 44% after acquired by Bard (BCR) for approximately $262M... J.C. Penney (JCP), up 2% after Glenview reports a 9.1% passive stake... E-Trade (ETFC), up 7% after approved to dividend bank capital to parent company... Logitech International (LOGI), up 3% after Vincent Pilette named new CFO... Broadcom (BRCM), up 1.5%, after agreeing to acquire LTE assets from Renesas Electronics. DOWN AFTER EARNINGS: Navistar (NAV), down 6%... H&R Block (HRB), down 4%... Francesca's (FRAN), down 18%... SAIC (SAI), down 6%. ALSO LOWER: Guidewire Software (GWRE), down 8% after downgrade at Citigroup... LinkedIn (LNKD), down 2% after proposed offering of $1B of common stock.
News For CIEN;GIII;DG;BRCM;NAV;ROCM;BCR;HRB;GWRE;VRNT;FRAN;JCP;LNKD;ETFC;SAI;LOGI From The Last 14 Days
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April 11, 2014
09:13 EDTHRBOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Fastenal (FAST), up 3%... Wells Fargo (WFC), up 0.2%. ALSO HIGHER: H&R Block (HRB), up 5% after announcing a deal for BofI (BOFI) to acquire H&R Block's bank assets. Bofi up 9.4% after the deal announcement... Zynga (ZNGA), up 1.7% after naming new CFO, shares upgraded to Equal Weight at Morgan Stanley... SINA (SINA), up 2% after announcing up to $500M share repurchase program. DOWN AFTER EARNINGS: JPMorgan (JPM), down 3.7%... NQ Mobile (NQ), down 14.6%. ALSO LOWER: Gap (GPS), down 4% after reporting March SSS fell 6%, shares downgraded at Janney Capital... Voxeljet (VJET), down 16% after 3M share secondary offering priced at $15.00... Datawatch (DWCH), down 29% after cutting its second quarter revenue outlook.
09:00 EDTHRBH&R Block rises 5.6%
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08:14 EDTHRBH&R Block volatility expected to move into plan to sell bank unit
H&R Block (HRB) option implied volatility is expected to move after the company announced that it will divest its H&R Block Bank assets to BofI Federal Bank (BOFI). Overall option implied volatility of 30 is near its 26-week average of 29 according to Track Data, suggesting non-directional price movement.
08:00 EDTLNKDLinkedIn remains a favorite large cap name at Piper Jaffray
Piper Jaffray says LinkedIn remains one of its favorite long-term large cap names. The firm believes investors are overlooking two new opportunities for the company: the addition of Sales Solutions and the Ad API. Piper reiterates an Overweight rating on LinkedIn with a $270 price target.
07:38 EDTHRBH&R Block bank sale a positive, says Morgan Stanley
Morgan Stanley said H&R Block's bank sale is an incremental positive and removes an overhang on shares. The firm said the sale will allow H&R Block to buyback stock, one of the key value drivers in its Overweight rating.
07:34 EDTHRBH&R Block partnership deal positive, says Oppenheimer
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06:47 EDTLNKDSamsung ups S5 incentives to fend off rivals, Bloomberg says
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06:42 EDTHRBBofI Holding upgraded to Outperform from Market Perform at Keefe Bruyette
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06:02 EDTETFCE-Trade upgraded to Overweight from Underweight at Barclays
Barclays upgraded E-Trade two notches to Overweight from Underweight based on valuation and an improved capital profile. Price target raised to $24 from $20.
April 10, 2014
19:00 EDTHRBOn The Fly: After Hours Movers
NOTABLE: According to a Bloomberg report that cited sources, Kathleen Sebelius, U.S. Secretary of Health and Human Services, is set to resign tomorrow. A New York Times report added that President Obama is expected to nominate Sylvia Mathews Burwell, Director of the Office of Management and Budget, as Sebelius' replacement. HIGHER: Shares of BofI Holding (BOFI) and H&R Block (HRB) both advanced after announcing a deal for BofI to acquire H&R Block's bank assets. BofI, which saw shares gain 9% after hours, said it expects ongoing annual revenue from the deal of $26M-$28M beginning with its fiscal 2015. H&R Block, which gained 7%, said it expects the deal to be 7c-9c dilutive to earnings per share beginning in its fiscal 2015, and the company said it sees the deal resulting in $200M-$250M of immediate excess capital. LOWER: Gap (GPS), down 2.6% after reporting March same-store sales that fell 6% and saying that it expects first quarter gross margins to decline more when compared to the prior year period than they did in the preceding quarter... NQ Mobile (NQ), down 8.8% after reporting earnings that missed expectations on revenue that topped estimates and saying that it identified an accounting overstatement related to share-based compensation for the three and nine months ended September 30... Datawatch (DWCH), down 25% after cutting its second quarter revenue outlook... TTM Technologies (TTMI), down 3.9% after cutting its first quarter earnings outlook and saying it expects first quarter revenue to come in at the low end of its previous guidance range.
17:37 EDTHRBH&R Block to host conference call
Conference call to discuss definitive agreement to divest its bank will be held on April 11 at 9 am. Webcast Link
17:16 EDTHRBH&R Block, BofI Holding surge after acquisition agreement
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16:22 EDTHRBBofi Holding to acquire H&R Block bank assets
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16:21 EDTBRCMBroadcom initiated with a Neutral at ISI Group
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16:15 EDTHRBH&R Block reaches definitive agreement to divest its bank
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16:12 EDTHRBH&R Block reaches definitive agreement to divest its bank
13:14 EDTDGFamily Dollar slides after holiday disappointment prompts store closures
Shares of discount retailer Family Dollar (FDO) are falling after the company reported second quarter earnings per share and revenue that fell below expectations, along with third quarter and FY14 projections that are lower than analysts' consensus. WHAT'S NEW: This morning, Family Dollar reported second quarter earnings per share of 80c, which fell below analysts consensus of 90c. The company reported second quarter revenue of $2.72B, while analysts projected $2.77B. Family Dollar, which reported that its second quarter same-store-sales decreased by 3.8%, said the holiday season was challenged by "a more promotional competitive environment and a more financially constrained consumer" and that its results were also significantly impacted by severe winter weather like many retailers. The company expects third quarter earnings per share excluding-items to be 85c-95c, while analysts project a 98c consensus. Family Dollar said that it sees FY14 earnings per share excluding items to be $3.05-$3.25, which is at the lower end of analysts' estimations. Family Dollar noted that it expects to close nearly 370 underperforming stores in the second half of FY14 and slow new store growth beginning in FY15. WHAT'S NOTABLE: During Family Dollar's earnings conference call, the company said that it plans to slow square footage growth in the beginning of FY14 and said that it recently cut about 10% of its corporate workforce. ANALYST OPINION: Wells Fargo analyst Matt Nemer said Family Dollar's third quarter negative comp guidance and commentary about a challenging macro environment could pressure its own shares as well as those of its peers Dollar General (DG) and Dollar Tree (DLTR). However, Family Dollar's store closures combined with a decrease in future store growth could ultimately have positive implications for its competitors, Nemer added. On March 4, Credit Suisse said Family Dollar's underperformance compared to Dollar General and significant earnings possibilities gives the rationale for a potential merger of the two. On February 19, Credit Suisse analyst Michael Exstein suggested that Wal-Mart (WMT) should consider acquiring Family Dollar as a way to "jumpstart" its small store effort. CNBC's David Faber reported the same morning that Exstein published his note that Family Dollar was not holding any talks about selling itself at that time. PRICE ACTION: During afternoon trading, shares of Family Dollar decreased $1.54, or 2.61%, to $57.53, Dollar Tree dropped 2.5%, and Dollar General fell about 1.5%.
10:44 EDTLNKDStocks with call strike movement; FSLR LNKD
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09:06 EDTETFCSEC still struggling for data, slow to move on HFT, Bloomberg says
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07:21 EDTHRBH&R Block risk/reward positive, says Oppenheimer
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