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Stock Market & Financial Investment News

News Breaks
February 13, 2013
12:24 EDTCMCSA, GE, PRLB, DDD, XONE, WCG, RATE, RAX, CLFOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday following the president's State of the Union address and a report that showed retail sales growth slowed in January. The Dow and S&P have moved back and forth across the flat line while the Nasdaq remained in positive ground throughout the morning, but was well off its early day highs near noon... ECONOMIC EVENTS: In the U.S., retail sales rose 0.1% in January, which was in-line with expectations though down from a 0.5% gain in December. Import prices rose 0.6% during the month, versus expectations for an increase of 0.8%, while Export prices were up 0.3% in January, matching the consensus forecast. Business inventories grew 0.1% in December, versus expectations for a 0.2% increase. Additionally, in his State of the Union address last night, President Obama outlined a mix of old and new proposals intended to jump-start the domestic economy as well as urging Congress to raise the minimum wage to $9 an hour from the existing $7.25. In Europe, Q4 industrial production fell 2.4% from the previous quarter, though production in the euro-zone rose 0.7% on the month in December... COMPANY NEWS: Comcast (CMCSA) announced several important developments late Tuesday and investors reacted favorably, sending its stock up over 4%. The company reported its Q4 results but also announced it will buy General Electricís (GE) remaining 49% equity stake in NBCUniversal for $16.7B, increased its dividend by 20% to 78c per share and said it plans to buy back $2B of its stock in 2013. After the earlier than expected sale of the JV interest, GE said it was raising its share repurchase plan to $35B and accelerating its 2013 share buybacks to about $10B and its shares rose about 3%... MAJOR MOVERS: Among the notable gainers was Proto Labs (PRLB), up 23%, after its better than expected earnings report as well as a positive mention of 3D printing technology by President Obama last night. Shares of publicly traded 3D printer makers moved up as well, including 3D Systems (DDD) and ExOne (XONE). Also higher were shares of WellCare (WCG), which gained 10% after its earnings and revenue both beat consensus expectations. Among the noteworthy losers after earnings reports that sparked analyst downgrades were Bankrate (RATE), down nearly 20% and downgraded at Citi, Rackspace (RAX), down 18% and downgraded at Stifel Nicolaus, and Cliffs Natural (CLF), which was downgraded at Deutsche Bank, Citi and Macquarie and saw shares fall about 19%... INDICES: Near noon, the Dow was down 44.62, or 0.32%, to 13,974.08; the Nasdaq was up 4.55, or 0.14%, to 3,191.04; and the S&P 500 was up 0.30, or 0.02%, to 1,519.73.
News For CMCSA;GE;PRLB;DDD;XONE;WCG;RATE;RAX;CLF From The Last 14 Days
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August 19, 2014
12:21 EDTRAXRackspace rises on activist stakes, levels to watch
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09:07 EDTRAXOn The Fly: Pre-market Movers
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08:35 EDTRAXRackspace may adopt more shareholder friendly structure, says Wells Fargo
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06:22 EDTGEGeneral Electric in talks with Electrolux to sell appliance business, WSJ says
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August 18, 2014
18:21 EDTRAXOn The Fly: After Hours Movers
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17:41 EDTRAXBlue Harbour looks forward to ongoing dialogue with Rackspace on alternatives
Blue Harbour Group, which reported that it owns approximately 9.1M shares or 6.4% of Rackspace Hosting, issued the following statement: Todd R. Marcy, a Managing Director of Blue Harbour, stated, "Rackspace has built an incredibly valuable business with excellent long-term prospects that we believe are not reflected in the company's current share price. We believe the Board and management team are committed to closing this significant valuation gap. We look forward to a constructive, ongoing dialogue on the various alternatives Rackspace has to unlock and deliver meaningful shareholder value, whether as a standalone independent entity or pursuant to the current strategic review process."
16:43 EDTRAXBlue Harbour reports 6.4% stake in Rackspace
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16:30 EDTRAXActivist investor Blue Harbour builds Rackspace stake to 6.5%, WSJ says
Activist investor Blue Harbour Group which is known for holding talks with companies rather than "public fights," has accumulated a 6.5% stake in Rackspace, says the Wall Street Journal. Rackspace, a cloud-computing company, has lately been reviewing its strategic options, added the Wall Street Journal. Reference Link
10:01 EDTWCGOn The Fly: Analyst Downgrade Summary
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08:47 EDTRAXRaymond James to hold a summit
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08:46 EDTWCGWellCare downgraded at Wedbush
As noted earlier, Wedbush downgraded WellCare to Neutral from Outperform. The firm no longer sees the company as a takeover candidate, and it thinks that the company will need at least 2-3 years to turn itself around. Target to $55 from $70.
07:22 EDTWCGWellCare downgraded to Neutral from Outperform at Wedbush
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07:07 EDTGEGeneral Electric reinstated with an Outperform at Credit Suisse
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August 17, 2014
20:16 EDTCMCSAFCC must decide on TWC arrangement as it reviews Comcast deal, WSJ says
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August 15, 2014
10:41 EDTRAXOptions with decreasing implied volatility
Options with decreasing implied volatility: ARWR ICPT UVXY MNKD KING VIX SVXY VXX RAX OPK
08:36 EDTCLFCliffs pays $11M to Halverson in connection with employment termination
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08:25 EDTXONEExOne Q2 hurt by one-time costs, says FBR Capital
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07:43 EDTXONEExOne price target lowered to $21 from $25 at Credit Suisse
Credit Suisse lowered ExOne's price target to $21 and reiterated its Underperform rating following the Q2 miss. The firm is troubled by gross margin guidance, deteriorating cash position, difficult ales guidance, and competitive metal 3D printing technologies.
07:38 EDTCMCSAComcast met with FCC this week to argue for deal, NY Post says
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06:02 EDTRAXStocks with implied volatility movement; RAX HTZ
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