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Stock Market & Financial Investment News

News Breaks
February 14, 2014
08:47 EDTCMCSA, GSK, TSLA, MSFT, SNE, F, KW, NFX, APC, MUR, WFC, MU, CSCO, CHTR, TWC, ARNAOn the Fly: Periodicals Wrap
WSJ: Comcast's (CMCSA) Obama relationships to be tested in Time Warner Cable (TWC) deal...Charter (CHTR) likely to seek other acquisitions...Cisco's (CSCO) memory issue may be tied to Micron (MU)...REUTERS: Wells Fargo (WFC) moves back into the subprime home market...Murphy Oil (MUR) may sell about $3B of Asian assets...Brightoil interested in Anadarko (APC), Newfield (NFX) China operations...Kennedy Wilson (KW) looks to raise $1.25B from European property unit...BLOOMBERG: Ford (F) sales dominated by small SUVs...Sony (SNE) PlayStation beats Microsoft (MSFT) Xbox One sales...Tesla (TSLA) looking into cause of Toronto Model S fire...OTHER NEWS: GlaxoSmithKline (GSK) interested in Arena (ARNA), Daily Mail reports.
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July 17, 2014
14:52 EDTCMCSAYahoo Sports, NBC Sports announce expanded fantasy football coverage
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13:20 EDTMSFTMicrosoft to shutter Xbox Entertainment Studios, Re/code reports
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13:18 EDTMSFTOn The Fly: Midday Wrap
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10:00 EDTCHTROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 21st Century Fox (FOXA) downgraded to Buy from Strong Buy at ISI Group... Charter (CHTR) downgraded to Hold from Buy at Jefferies... Covidien (COV) downgraded to Hold from Buy at Needham... Diageo (DEO) downgraded to Underweight from Neutral at JPMorgan... GNC Holdings (GNC) downgraded to Hold from Buy at Jefferies... International Game (IGT) downgraded to Market Perform from Outperform at BMO Capital... JAVELIN Mortgage (JMI) downgraded to Market Perform from Outperform at JMP Securities... Macquarie Group (MQBKY) downgraded to Underweight from Neutral at JPMorgan... PNC Financial (PNC) downgraded to Neutral from Buy at Compass Point... PetSmart (PETM) downgraded to Sector Perform from Outperform at RBC Capital... Rexam (REXMY) downgraded to Hold from Buy at Deutsche Bank.
09:40 EDTTSLA, MSFTActive equity options trading on open
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09:22 EDTCHTR, TWC, CMCSAComcast price target raised to $66 from $62 at Maxim
Maxim raised its price target for Comcast (CMCSA) shares to $66 citing synergies from the Time Warner Cable (TWC), Charter deal. The firm says it values NBC Universal on a 10 times 2015 EBITDA, which it notes is a 14% discount to Fox's (FOXA) proposed bid for Time Warner (TWX), which values Time Warner at 11.6 times. Maxim keeps a Buy rating on Comcast shares.
09:15 EDTMSFTOn The Fly: Pre-market Movers
HIGHER: Dresser-Rand (DRC), up 15.5% after Manager Magazin says Siemens (SIEGY) preparing bid for the company. Other oil equipment companies with a market cap similar to Dresser-Rand's include Dril-Quip (DRQ) and Oil States (OIS)... Microsoft (MSFT), up 3.4% after announcing restructuring, including plans to cut up to 18K jobs. UP AFTER EARNINGS: Morgan Stanley (MS) up 1.5%... Sherwin-Williams (SHW), up 3%. DOWN AFTER EARNINGS: Mattel (MAT), down 7.3%... Sandisk (SNDK), down 7%... Yum! Brands (YUM), down 2.5%. LOWER: Orbitz (OWW), down 3% after results, 34M share spot secondary offering of stock priced at $8.25... Benefitfocus (BNFT), down 1% after 2.5M share Secondary priced at $38.50.
08:39 EDTMSFTMicrosoft shifting some Nokia X designs to Lumia products running Windows
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08:25 EDTMSFTMicrosoft CEO says plans to have fewer layers of management
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08:25 EDTMSFTMicrosoft CEO says decision to change "difficult, but necesary"
In am email to Microsoft employees on the integration of Nokia Devices and Services, CEO Satya Nadella said "The first step to building the right organization for our ambitions is to realign our workforce. With this in mind, we will begin to reduce the size of our overall workforce by up to 18,000 jobs in the next year. Of that total, our work toward synergies and strategic alignment on Nokia Devices and Services is expected to account for about 12,500 jobs, comprising both professional and factory workers. We are moving now to start reducing the first 13,000 positions, and the vast majority of employees whose jobs will be eliminated will be notified over the next six months. It’s important to note that while we are eliminating roles in some areas, we are adding roles in certain other strategic areas... Our workforce reductions are mainly driven by two outcomes: work simplification as well as Nokia Devices and Services integration synergies and strategic alignment. First, we will simplify the way we work to drive greater accountability, become more agile and move faster. As part of modernizing our engineering processes the expectations we have from each of our disciplines will change. In addition, we plan to have fewer layers of management, both top down and sideways, to accelerate the flow of information and decision making. This includes flattening organizations and increasing the span of control of people managers... Second, we are working to integrate the Nokia Devices and Services teams into Microsoft. We will realize the synergies to which we committed when we announced the acquisition last September. The first-party phone portfolio will align to Microsoft’s strategic direction. To win in the higher price tiers, we will focus on breakthrough innovation that expresses and enlivens Microsoft’s digital work and digital life experiences. In addition, we plan to shift select Nokia X product designs to become Lumia products running Windows." Reference Link
08:13 EDTMSFTMicrosoft to cut 18K jobs, sees restructuring charge of $1.1B-$1.6B
Microsoft announced a restructuring plan to simplify its operations and align the recently acquired Nokia Devices and Services business with the company's overall strategy. These steps will result in the elimination of up to 18,000 positions over the next year. Of the total, about 12,500 professional and factory positions will be eliminated through synergies and strategic alignment of the Nokia Devices and Services business acquired by Microsoft on April 25. The actions associated with the plan are expected to be substantially complete by Dec. 31, 2014, and fully completed by June 30, 2015. The company expects to incur pre-tax charges of $1.1B-$1.6B over the next four quarters, including $750M-$800M for severance and related benefit costs, and $350M-$800M of asset-related charges.
08:11 EDTMSFTMicrosoft to cut 18K jobs, sees pretax charge of $1.1B-$1.6B
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08:11 EDTNFXNewfield Exploration raises FY14 production to 46.5-48.5 MMBoe from 44-48 MMBoe
Newfield expects that its planned 2014 domestic capital investments will total about $1.7B from $1.6B. The additional investments specifically relate to improved drilling performance across the company and the addition of new acreage in the Anadarko Basin. Due to continued operational efficiencies, Newfield expects to drill up to 15 additional gross wells across its focus areas in 2014. Newfield's net production from continuing operations in the second quarter of 2014 was 12.1 MMBOE from 10.7 – 11.3 MMBOE. Liquids comprised approximately 55% of second quarter production volumes. Net liftings from discontinued operations totaled less than 0.1 MMBOE. Domestic production in the second quarter increased 12% over the first quarter of 2014 and 21% over the comparable quarter of 2013. Domestic liquids production in the second quarter of 2014 increased 13% over the first quarter of 2014 and 40% over the comparable quarter of 2013.
08:00 EDTMSFTMicrosoft says Xbox One sales more than double in June from prior month
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07:18 EDTGSKMylan wins motion to enjoin GlaxoSmithKline from production of generic product
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07:14 EDTWFCWells Fargo CEO John Stumpf says economy stronger than people think
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06:23 EDTGSKGlaxoSmithKline admits to bribing Chinese officials in 2001, FT reports
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05:58 EDTMSFTMicrosoft layoffs could be announced today, NY Times reports
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05:30 EDTCHTRCharter downgraded to Hold from Buy at Jefferies
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05:17 EDTFFord launches product acceleration in Middle East, Africa
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