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Stock Market & Financial Investment News

News Breaks
January 9, 2013
08:49 EDTHA, SKUL, STX, CLWR, ONE, AZZ, DISH, APOL, STZ, SOn The Fly: Pre-market Movers
UP AFTER EARNINGS/GUIDANCE: Seagate Technologies (STX), up 2.4%... Constellation Brands (STZ), up 4.3%... AZZ Inc. (AZZ), up 3%... ALSO HIGHER: Clearwire (CLWR), up 6.9% after DISH Networks (DISH) made an unsolicited offer for the company of $3.30 per share... Skullcandy (SKUL), up 5.4% after Bloomberg says share decline could make it a takeover target... DOWN AFTER EARNINGS: Apollo Group (APOL), down 9.5%... ALSO LOWER: Sprint (S), down 2.4% following DISH's unsolicited bid to buy Clearwire... Higher One (ONE), down 5.5% after downgrade to Sell at Goldman... Hawaiian Holdings (HA), down 2.1% after two notch downgrade to Underperform from Buy at Bank of America Merrill Lynch.
News For CLWR;S;DISH;STX;STZ;AZZ;SKUL;APOL;ONE;HA From The Last 14 Days
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August 19, 2015
16:58 EDTSTXOn The Fly: Top stock stories for Wednesday
The market opened deep in negative territory after a tumultuous trading session in China and a softer than expected U.S. consumer prices report. Sellers continued to push the averages lower throughout the morning, with the Dow tacking on losses of more than 200 points as investors waited for the release of the Fed minutes. The market rallied following an early leak of the minutes, which suggested officials are getting closer to raising rates but appear to be waiting for additional data. Despite the afternoon rally, the averages sold off once again heading into the close, leaving all three indices in the negatives for Wednesday. ECONOMIC EVENTS: In the U.S., the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%. There were no revisions to the 0.3% headline gain in June or the 0.2% growth in the ex-food and energy component. Component gains were muted across the board, with Energy prices up just 0.1% in July. Meanwhile, FOMC minutes showed no definitive indication of a September rate hike. Most committee members "judged that the conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point." Other members, however, believed that the inflation outlook "might not soon meet one of the conditions... for initiating a firming of policy." COMPANY NEWS: Shares of Dot Hill Systems (HILL) soared $4.50, or 86.87%, to $9.68 after Seagate Technology (STX) agreed to acquire the company for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016. Shares of the hard drive giant fell 5.03% to $49.43 for the session... Lowe's (LOW) shares saw gains of $1.34, or 1.84%, to $74.36 following the company's earnings report this morning, while Target (TGT) rose $59c, or 0.73%, to $80.89 after beating on both top and bottom lines. On a subsequent conference call, Target executives forecast a "choppy" competitive environment in Q3, though they added that the company "will not get beat" on promotions in Q4. Separately, American Eagle (AEO) lost 7.42% to $16.92 after its quarterly numbers. MAJOR MOVERS: Among the notable gainers were Palatin (PTN) and Apricus (APRI), showing respective advances of 3.19% and 7.89% after the FDA approved Sprout's female sexual dysfunction drug Addyi, with the agency remarking that it "continues to encourage drug development in this area." Note that both Palatin and Apricus are developing their own treatments in the space, and Apricus reaffirmed this morning its intent to seek a global partner as it advances its Femprox sexual dysfunction medication. Also higher was Yum! Brands (YUM), which gained $1.90, or 2.26%, to $86.10 after appointing a new CEO of its China division, adding that its same-store sales in the region "have turned significantly positive." Among the noteworthy losers was Rayonier Advanced Materials (RYAM), plunging $6.01, or 44.09%, to $7.62 after disclosing a legal battle with its customer Eastman Chemical (EMN) over "meet or release" contract stipulations which may impact Eastman's purchase obligations. Also lower was Caesarstone (CSTE), which lost $3.43, or 7.14%, to $44.61 after short-selling hedge fund Spruce Point said the stock has up to 75% downside due to heightened raw material costs and competitive concerns, among other factors. Separately, EOG Resources (EOG), Baytex Energy (BTE), and Vanguard Natural (VNR) saw respective losses of 4.15%, 15.53%, and 13.83% after WTI crude fell 5.02% for the session. INDEXES: The Dow declined 162.61, or 0.93%, to 17,348.73, the Nasdaq fell 40.30, or 0.80%, to 5,019.05, and the S&P 500 lost 17.31, or 0.83%, to 2,079.61.
16:13 EDTSKULASTRO Gaming partners with Activision and Treyarch on Black Ops lll
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13:30 EDTSTXOn The Fly: Top stock stories at midday
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13:30 EDTSOptions with increasing put volume;
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10:20 EDTS, DISHBig telecom firms put M&A on hold, CTFN reports
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08:22 EDTSSprint traffic levels increasing, says Pacific Crest
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05:32 EDTSTXDot Hill Systems downgraded to Neutral from Overweight at Piper Jaffray
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August 18, 2015
18:35 EDTSSoftbank increases Sprint stake by roughly 16.8M shares
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18:31 EDTSTXDot Hill Systems up 82% to $9.45 after agreeing to be acquired by Seagate
18:04 EDTSTXSeagate to acquire Dot Hill Systems for $9.75 per share, or $694M
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18:01 EDTSTXSeagate to acquire Dot Hill Systems for $9.75 per share, or $694M
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11:34 EDTSSprint rises on plans to abandon two-year contracts
Sprint shares are higher this morning after the company's chief executive officer said that the carrier plans to move away from two-year contracts. WHAT'S NEW: In an interview with The Wall Street Journal, Sprint CEO Marcelo Claure said that the company will stop offering two-year contracts by the end of 2015 in favor of a "smartphone lease" model. Sprint began offering a lease option last year, The Journal noted, and Claure said the carrier is planning to move entirely to that model by the end of the year. As part of its shift, Sprint yesterday unveiled iPhone Forever, a new leasing plan that starts at $22 per month for an iPhone. WHAT'S NOTABLE: In a similar move earlier this month, Sprint rival Verizon (VZ) said it would drop phone subsidies and two-year contracts for new customers. T-Mobile (TMUS), another market rival, abandoned contracts over two years ago, leaving AT&T (T) as the only major U.S. carrier still offering to subsidize new smartphone purchases. Separately, Softbank (SFTBF), Sprint's primary stakeholder, disclosed last week that it increased its holdings in the company to approximately 80%, though the company said it does not plan for its stake in the carrier to exceed 85%. Meanwhile, a study released Tuesday by RootMetrics, an independent company that evaluates wireless networks, shows that Sprint is improving its network, having solidified third place nationally in overall performance, surpassing T-Mobile for the second consecutive six-month stretch. PRICE ACTION: Sprint is up 7c, or 1.52%, to $4.67 in morning trading.
10:17 EDTDISHDisney downgraded as Wells moves away from content providers
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09:07 EDTSTZConstellation Brands acquires minority stake in Crafthouse Cocktails
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08:22 EDTHAHawaiian Holdings management to meet with Sterne Agee CRT
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06:11 EDTDISHFCC: Dish can't apply $3.3B in credits in airwaves auction, AP reports
The FCC said that Dish Network may not apply $3.3B in small-business credits towards buying airwaves it acquired in a government auction, the Associated Press reports. Reference Link
August 17, 2015
18:40 EDTSTZConstellation Brands takes stake in pre-mixed drink startup, WSJ says
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18:12 EDTSSprint to move away from two-year contracts, WSJ says
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16:52 EDTONEZilkha Investments reports 9.7% stake in Higher One
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08:22 EDTSSprint customers can upgrade iPhone anytime, included in monthly rate
Sprint (S) announced that customers can upgrade their Apple (AAPL) iPhone anytime, included in their monthly rate. New and upgrade eligible Sprint customers can get iPhone for just $22 per month with iPhone Forever. Anytime customers don't have the latest iPhone, they are eligible to upgrade. They bring their iPhone, upgrade on the spot and away they go. It's that simple. iPhone Forever is available on any eligible Sprint rate plan and upgrade eligibility is always included in your price. New or existing customers who are upgrade eligible can bring in any smartphone and get a 16GB iPhone 6 model and their monthly rate will be reduced to just $15 until their next upgrade. As a special promotion, customers who get iPhone 6 and upgrade before December 31 continue with the discount price of $15 until their next upgrade.
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