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Stock Market & Financial Investment News

News Breaks
January 9, 2013
12:37 EDTHA, NUVA, S, APOL, HLF, CLWR, GPN, DISHOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after Alcoa (AA) unofficially kicked off the earnings season last night by matching analysts' earnings estimates and topping revenue expectations. Alcoa's report may be lending a sense of optimism that companies may be able to exceed the lowered expectations for the earnings season now getting underway. The market's bounce from its recent run of lower closes may not be long lived if lawmakers do not make progress, as highlighted again in a Washington Post report that said the U.S. may reach the current limit on the debt ceiling as soon as February 15, about two weeks earlier than previously expected... ECONOMIC EVENTS: In the U.S., the EIA's weekly petroleum status update showed that inventories of crude oil built up but by fewer barrels than expected, while gasoline and distillates built up by more than expected. In Europe, industrial output in Germany grew slightly in November but fell short of expectations, as the 0.2% adjusted monthly rise missed expectations for a 1.0% increase... COMPANY NEWS: Shares of Clearwire (CLWR) rose nearly 8% to $3.15 after the company got an unsolicited $3.30 per share buyout bid from Dish Network (DISH). The offer sets up a potential takeover battle with Sprint (S), which already owns a majority stake in Clearwire and has a deal in place to acquire the remaining interest... Another potential Wall Street showdown made headlines, related to two prominent hedge fund managers and their conflicting positions on Herbalife (HFL). Shares of Herbalife spiked higher and were up almost 5% near noon, after hedge fund Third Point, managed by Dan Loeb, disclosed an 8.24% passive stake. The holding puts Loeb in opposition with Bill Ackman of Pershing Square, who has a large and well publicized short position in the company... MAJOR MOVERS: Among the notable gainers was NuVasive (NUVA), which rose nearly 12% after reporting preliminary revenue that beat expectations and having its stock upgraded to Sector Perform at RBC Capital. Also higher were shares of Global Payments (GPN), up about 6% after JPMorgan upgraded the stock and RBC Capital raised its price target on shares following the company's report and increased guidance. Among the noteworthy losers was Apollo Group (APOL), which fell 9% following more than one downgrade of the stock after its Q1 report. Also lower were shares of Hawaiian Holdings (HA), which slid over 6% following a two notch downgrade to Underperform from Buy at Bank of America Merrill Lynch... INDICES: Near noon, the Dow was up 80.63, or 0.60%, to 13,409.48; the Nasdaq was up 14.66, or 0.47%, to 3,106.47; and the S&P 500 was up 4.86, or 0.33%, to 1,462.01.
News For CLWR;S;DISH;HLF;NUVA;GPN;APOL;HA From The Last 14 Days
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July 28, 2015
16:20 EDTNUVANuVasive raises 2015 EPS outlook to $1.17 from $1.10, consensus $1.12
Sees 2015 revenue $810M, consensus $812.22M.
16:19 EDTNUVANuVasive reports Q2 EPS 31c, consensus 25c
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16:18 EDTNUVANuVasive enters $13.5M settlement of Justice Department
NuVasive announced that it has reached a definitive settlement with the U.S. Department of Justice related to the subpoena issued to the company by the Office of Inspector General of the Department of Health and Human Services in 2013. NuVasive admits no wrongdoing as part of the settlement. On April 29, the company announced that it had reached an agreement in principle to settle the investigation with the DOJ. The company has now entered into a definitive settlement agreement with the United States, acting through DOJ and on behalf of OIG, the Defense Health Agency, the Office of Personnel Management, and the U.S. Department of Veteran Affairs. Under the terms of the settlement agreement, the company will pay $13.5M, plus fees and accrued interest. The settlement is neither an admission of liability or wrongdoing by the company nor a concession by the United States that its claims are not well founded. The company was not required to enter into a corporate integrity agreement by the OIG as part of the settlement.
15:21 EDTNUVANotable companies reporting after market close
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14:26 EDTHLFHerbalife volatility increases into Q2 and outlook
Herbalife August weekly call option implied volatility is at 45, August is at 77, September is at 48; compared to its 52-week range of 24 to 78, suggesting large near term price movement into the expected release of Q2 results on August 10.
12:51 EDTGPNGlobal Payments reports Q4 cash EPS $1.22, consensus $1.18
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07:15 EDTGPNGlobal Payments says board expanded repurchase authorization by $300M
Global Payments’ Board of Directors expanded its share repurchase authorization by an incremental $300 million, bringing its total current authorization to $403 million. Under the company’s new authorization, Global Payments may repurchase shares in the open market or as otherwise may be determined by the company, subject to market conditions, business opportunities and other factors. The company has no obligation to repurchase shares under this program. This authorization has no expiration date and may be suspended or terminated at any time. Repurchased shares will be retired but will be available for future issuance.
07:14 EDTGPNGlobal Payments sees FY16 EPS $5.60-$5.78, consensus $5.44
Sees FY16 GAAP revenue $2.87B-$2.95B, consensus $2.96B. Sees FY16 adjusted revenue $2.06B-$2.1B.
July 27, 2015
08:39 EDTGPNGlobal Payments, Caixa, Erste to form joint venture
Global Payments (GPN), CaixaBank (CAIXY), and Erste Group Bank (EBKDY) announced an agreement to form a joint venture to provide merchant acquiring and payment services in three core locations in Central and Eastern Europe: Czech Republic, Slovakia and Romania. Global Payments and CaixaBank will pay EUR30M in cash to acquire a 51% majority ownership in the venture. Erste Group will contribute its existing merchant acquiring businesses in each of the three countries to the joint venture and will hold a 49% interest. The transaction is expected to close in the second half of fiscal 2016, subject to receipt of regulatory approvals and satisfaction of customary closing conditions. Global Payments does not expect the joint venture to have a material impact on the company’s fiscal 2016 cash earnings per share or capital plans. Global Payments will provide additional financial information about the joint venture upon closing.
July 23, 2015
07:22 EDTSSprint price target lowered to $3 from $4 at Jefferies
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July 22, 2015
19:40 EDTDISHDISH executive says auction strategy 'complied with all legal requirements'
In response to the FCC's proposal to deny roughly $3.3B in spectrum auction discounts, DISH EVP and general counsel R. Stanton Dodge stated, "We respectfully disagree with the proposed denial of the bidding credits. Our approach to the AWS-3 auction, which followed 20 years of FCC precedent and complied with all legal requirements, was intended to enhance competition -- in the auction and in the marketplace long term. Our investments in NorthStar and SNR helped make the AWS-3 auction the most successful spectrum auction in FCC history, and resulted in more than $20B of direct benefit to the American taxpayer." Reference Link
17:35 EDTDISHDISH meets with FCC, says draft order would deny $3.3B in auction discounts
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06:12 EDTHLFHerbalife requests user information from Twitter, Reuters reports
Herbalife (HLF) has filed a petition seeking information from Twitter (TWTR) to find an anonymous user who posted defamatory tweets against Herbalife, Reuters reports. Herbalife wants Twitter to provide IP addresses as well as account details of the user so that the company can pursue legal action, the report says. Reference Link
05:23 EDTHAAir Lease announces placement of additional new A330-200 with Hawaiian Airlines
Air Lease (AL) announced another long term lease agreement with Hawaiian Airlines (HA) for one additional new Airbus A330-200. This aircraft is from ALC’s order book with Airbus and will deliver in Q2 of FY16.
July 21, 2015
18:40 EDTHAHawaiian Holdings to acquire three ATR 72 aircraft
Hawaiian Holdings, parent of Hawaiian Airlines, announced plans to acquire three ATR 72 turboprop aircraft in an all-cargo configuration to expand its interisland shipping services. The new operation will launch in the first half of 2016, starting with flights between Honolulu International Airport and Kona International Airport, Kahului Airport, Līhuʻe Airport and Hilo International Airport, with well-timed connections from Hawaiian Airlines' mainland and international network.
18:11 EDTDISHHarbinger Capital sues DISH over LightSquared, Reuters reports
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16:01 EDTHAHawaiian Holdings to acquire ATR 72 turboprop aircraft
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10:01 EDTHLFOn The Fly: Analyst Initiation Summary
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July 20, 2015
19:34 EDTDISHDISH customers to lose WDIV-TV Local 4
WDIV-TV Local 4 is about to go dark for all DISH (DISH) TV subscribers. WDIV and its parent organization, Graham Media Group, a subsidiary of Graham Holdings (GHC), stated, "The satellite provider has been unwilling to strike a reasonable deal with the local content provider. On Wednesday, July 22 at 7 p.m. subscribers will no longer be able to watch programs like Local 4 News, NBC's Today, NBC Nightly News, The Tonight Show starring Jimmy Fallon, Saturday Night Live, The Voice, The Blacklist, Sunday Night Football and more. DISH charges its subscribers a monthly fee to get these programs, so essentially their estimated 127,000 Detroit area customers will not be getting what they pay for. That includes important local news and weather information in emergency situations from the Local 4 News team."
16:40 EDTHLFHerbalife initiated with a Neutral at Sterne Agee CRT
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