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Stock Market & Financial Investment News

News Breaks
February 13, 2013
12:24 EDTRAX, XONE, GE, RATE, DDD, CMCSA, CLF, WCG, PRLBOn 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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June 25, 2015
06:15 EDTGEElectrolux CEO to step down 'on his own initiative,' Reuters reports
Electrolux (ELUXY) CEO Keith McLoughlin will step down from the company "on his own initiative," Reuters reports, citing comments from business daily Dagens Industri. Elextrolux says McLoughlin, who moved to the U.S. from Sweden a few years ago, has not yet resigned, but also noted that "all well-run public companies conduct succession planning." According to Dagens Industri, GE Appliances (GE) head Charles Blankenship would be the "top candidate" to succeed McLoughlin. Reference Link
June 24, 2015
19:53 EDTCMCSAComcast to offer EA games over cable box, DSLReports says
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18:16 EDTGEGoogle, GE, Airbus lead in sheer number of meetings with EU officials
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16:47 EDTGEGeneral Electric reaches preliminary labor agreements with union delegates
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13:58 EDTCMCSAChernin, NBCUniversal agree on two year deal, L.A. Times reports
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08:25 EDTCMCSANetflix on pace to have larger audience than all networks, FBR says
FBR Capital analyst Barton Crockett says that while Netflix (NFLX) is not rated by Nielsen (NLSN), the 10B hours streamed in Q1 reported by the company are equivalent to having a 24-hour rating of 2.6, on par with Disney's (DIS) ABC and Comcast's (CMCSA) NBC. And while ratings at broadcasters are falling on average, Netflix is growing its ratings at a 40%-plus compound annual rate, Crockett tells investors this morning in a research note. At this pace, Netflix in a year will have a larger 24-hour audience than all broadcast networks, he contends. Regarding last night's 7-for-1 stock split announcement, Crockett says the move reflects management's confidence in the "durability of the recent stock surge." For perspective, three years ago Netflix shares were around $60. This morning they are trading up $18.69 to $699.88 in the pre-market. Crockett has an Outperform rating on the streaming service with a $900 price target.
05:47 EDTDDDStocks with implied volatility movement; NRF DDD
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June 23, 2015
13:09 EDTCMCSAHulu to sell Showtime premium package for subscribers
Hulu (DIS;NWSA;CMSA) will sell Showtime Networks' (CBS) Internet streaming service to subscribers in early July, reports Variety. Hulu will offer Showtime to its subscribers for $8.99 in addition to the $7.99 fee Hulu subscribers pay per month.Reference Link
13:02 EDTGESumitomo, others show interest in GE railway-leasing business, WSJ says
Japan's Sumitomo Mitsui Financial Group is interested in buying General Electric's (GE) railway-leasing business, says the Wall Street Journal, citing sources. Wells Fargo (WFC) and other U.S. financial institutions have also shown interest in GE Capital Rail Services, which may be worth around $4B, added the Wall Street Journal, citing people familiar with the matter. Reference Link
12:03 EDTDDD3D Systems volatility at low end of historic range
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09:36 EDTGEActive equity options trading on open
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June 22, 2015
15:04 EDTCMCSAT-Mobile could abandon DISH for Comcast, Forbes contributor says
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09:54 EDTGEGeneral Electric and Cascade announce multi-year joint development agreement
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08:09 EDTGEGeneral Electric 2018 EPS should surpass $2, says Bernstein
After meeting with GE's CFO, Bernstein predicts that the company's 2018 EPS will surpass the $2 it says is often cited as a target for the company. The firm says that synergies with Alstom appear to be progressing well, while its gross margin initiatives are also progressing. Bernstein says that GE is making progress on many fronts. It keeps an Outperform rating on the stock.
06:59 EDTCMCSAComcast, NBCUniversal using cross-promotional strategy, NY Times says
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06:37 EDTWCGHealth insurers may change policies based on King v. Burwell ruling, NYT says
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06:18 EDTGESuppliers worried about Airbus, Boeing production rate hike, Reuters reports
Major engine suppliers, including General Electric (GE) and Safran, are becoming worried that they may lose out if they invest to meet higher commercial jet production targets from Airbus (EADSY) and Boeing (BA) that may prove unsustainable, Reuters reports. Airbus and Boeing have plans to raise production rates of their best selling single aisle planes by 25% to 50-52 a month in 2017-2018, the report says. Suppliers have said that they need to secure the start of a steep rise in output before making a commitment to even loftier targets, the report says. Reference Link
05:13 EDTGEGeneral Electric, unions reach tentative agreement on new contracts
General Electric reached tentative agreements on new labor contracts with national leaders of its two largest unions, the IUE-CWA and the United Electrical, Radio and Machine Workers of America, or UE, after three weeks of negotiations. The agreements are now subject to review by union negotiating committees and ratification by union members. GEís existing four-year national contracts with the IUE-CWA and the UE expire at midnight. The four-year job packages provide improvements in healthcare, wages, pension and job and income security. The contract provisions will also be extended to additional unions that have local contracts with GE.
June 21, 2015
17:57 EDTCMCSARealD says 3D screens accounted for 47% of weekend 'Jurassic World' gross
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16:21 EDTCMCSAUniversal's 'Jurassic World' leads U.S. weekend box office with $102M
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