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Stock Market & Financial Investment News

News Breaks
March 27, 2013
12:14 EDTCLF, AOL, MFRM, LOGM, RAXOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday though well off their worst levels. The market dropped sharply at the open, with the early weakness being attributed to continued worries about Europe, where Cyprus has yet to reopen its banks and Italy is still struggling to form a new government. The selling soon pushed the Dow to triple digit losses, but the Dow and the other averages cut their losses by more than half by noon. In addition to the impending holiday weekend, the end of the quarter is approaching and investment managers may be making portfolio adjustments today and tomorrow since they will be unable to on Friday... ECONOMIC EVENTS: In the U.S., pending home sales dipped 0.4% in February from the prior month, compared to expectations for a 0.3% decline. On a year-over-year basis, however, pending sales were up 5%. In Europe, Italian benchmark bonds fell after the nation's Democratic Party leader Pier Luigi Bersani said there was no possibility of a broad coalition to resolve the deadlock caused by last month's elections... COMPANY NEWS: Cliffs Natural Resources (CLF) was in the sights of a number of Wall Street analysts, as Morgan Stanley cut its rating on the stock to Underweight from Equal Weight and Credit Suisse lowered its price target on the stock to $10 from $30. Goldman Sachs upgraded Cliffs due to valuation, but that only brought the firm's rating up to a Neutral from its prior Sell recommendation. Shares of Cliffs sank 15% following the flurry of notes to investors... MAJOR MOVERS: Among the notable gainers were Mattress Firm (MFRM), up 10% following its earnings report, and AOL (AOL), up over 7% after being upgraded at Barclays. Among the noteworthy losers was LogMeln (LOGM), which slid 12% near noon to give back some of the 20% advance it garnered yesterday following a positive ruling in a patent lawsuit. Also lower were shares of Rackspace (RAX), which fell 4% after CLSA initiated coverage of the stock with an Underperform rating and $52 price target... INDICES: Near noon, the Dow was down 44.94, or 0.31%, to 14,514.71; the Nasdaq was down 6.03, or 0.19%, to 3,246.45; and the S&P 500 was down 4.09, or 0.26%, to 1,559.68.
News For CLF;AOL;MFRM;LOGM;RAX From The Last 14 Days
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April 16, 2014
16:18 EDTLOGMPoint72 lowers passive stake in LogMeln to 4.9% from 6.6%
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April 15, 2014
08:01 EDTAOLAOL launches premium video experience
AOL.com is launching a new premium video experience today. The experience will be programmed dynamically based on the insights around the AOL.com audience’s daily video viewing habits. This new experience on AOL.com expands on the success of the AOL On Network.
April 10, 2014
09:10 EDTRAXRackspace appoints Ryan Neading as Chief Information Officer
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08:22 EDTCLFCliffs Natural mentioned cautiously by Seeking Alpha contributor
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April 9, 2014
07:48 EDTCLFBofA/Merrill's steel analysts hold an analyst/industry conference call
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April 8, 2014
15:37 EDTMFRM40 North Investments raises stake in Mattress Firm to 8.73% from 8.16%
April 7, 2014
08:53 EDTAOLAOL names William Pence Chief Technology Officer
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April 4, 2014
10:19 EDTRAXRackspace calls active on renewed takeover chatter
Rackspace April weekly and traditional 33 calls are active on total call volume of 4,100 contracts (300 puts). April and May call option implied volatility is at 46, September is at 43; compared to its 26-week average of 43 according to Track Data. Active call option volume suggests traders taking positions for large price movement on renewed takeover chatter.
10:09 EDTRAXRumor: Rackspace moves up on renewed takeover chatter

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