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Stock Market & Financial Investment News

News Breaks
December 18, 2012
10:00 EDTAUQ, TRMB, RUSHA, CVTI, CPWR, WWD, LPL, CNC, HPQ, OMI, FEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Centene (CNC) downgraded to Hold from Buy at Jefferies... Covenant Transportation (CVTI) downgraded to Hold from Buy at BB&T... FirstEnergy (FE) downgraded to Hold from Buy at Deutsche Bank... LG Display (LPL) downgraded to Neutral from Buy at UBS... Owens & Minor (OMI) downgraded to Sell from Neutral at Goldman.... Rush Enterprises (RUSHA) downgraded to Hold from Buy at BB&T... Woodward (WWD) downgraded to Neutral from Outperform at Credit Suisse... Trimble Navigation (TRMB) downgraded to Neutral from Buy at Lazard Capital... Hewlett-Packard (HPQ) downgraded to Sell from Hold at Topeka... Compuware (CPWR) downgraded to Hold from Buy at Noble Financial... AuRico Gold (AUQ) downgraded to Market Perform from Outperform at BMO Capital.
News For CNC;CVTI;FE;LPL;RUSHA;OMI;WWD;TRMB;HPQ;CPWR;AUQ From The Last 14 Days
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April 21, 2015
09:37 EDTHPQHP sells Snapfish to District Photo ahead of seperation
HP announced a definitive agreement to divest Snapfish, its photo storage and merchandising business. District Photo will acquire the Snapfish business, including technology assets and employees. After the transaction closes, HP will maintain a partnership with Snapfish. Snapfish will continue to use HP printing solutions, and HP will provide the HP Connected Photo application developed by Snapfish on HP consumer PCs, including the Sprout computing platform, the company said. HP expects the transaction to close in the second half of FY15. Financial terms of the deal were not disclosed. It added, "The divestiture is consistent with HPs strategy to focus the organization following HPs previously announced separation."
08:04 EDTHPQHP, FireEye announce partnership
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06:06 EDTTRMBBrother International subsidiary announces alliance with PeopleNet
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05:56 EDTHPQStocks with implied volatility movement; CNX HPQ
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April 20, 2015
16:14 EDTWWDWoodward narrows FY15 EPS outlook to $2.70-$2.90, consensus $2.81
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16:13 EDTWWDWoodward reports Q2 EPS 66c, consensus 64c
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15:37 EDTWWDNotable companies reporting after market close
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07:34 EDTFEFirstEnergy added to US1 List, Edison International removed at BofA/Merrill
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April 17, 2015
08:04 EDTCNCCentene's Nurtur receives full URAC accreditation
Centene announced that Nurtur, its health and wellness subsidiary, received full Disease Management Accreditation from URAC, a Washington, DC-based healthcare accrediting organization that establishes quality standards for the healthcare industry.
April 15, 2015
07:58 EDTHPQTsinghua confirms talks for controlling stake in HP unit in China, WSJ reports
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05:10 EDTHPQHP selects Antonio Lucio as Chief Marketing Officer of HP Inc.
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April 14, 2015
07:47 EDTHPQHP announces new $190M Medicaid contract in Arkansas
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07:08 EDTAUQDenver Gold Group to hold a forum
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April 13, 2015
19:43 EDTHPQHP reaffirms commitment to the public cloud
In a blog post on HP's website, senior VP Bill Hilf said, "In the past week, a quote of mine in the media was interpreted as HP is exiting the public cloud, which is not the case." Reference Link
13:26 EDTAUQOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Dow and S&P 500 slightly lower and the Nasdaq clinging to a narrow gain. The broader market opened in positive territory and the averages moved in a narrow trading range during the morning. The Nasdaq has been the strongest of the indices since the open, though early gains from Apple (AAPL) and Qualcomm (QCOM) had evaporated by near midday, taking a bite out of the gains the index had been seeing earlier in the session. ECONOMIC EVENTS: In the U.S., no major economic data was released. In China, export sales unexpectedly contracted 15% in March, while imports shrank 12.7% last month from a year ago. The March fall in imports was in line with forecasts, unlike the one for exports, which were expected to rise 12%. COMPANY NEWS: Activist investor Jana Partners is putting pressure on Qualcomm to increase stock buybacks and take other actions to increase shareholder value, including an exploration of spinning off its chip unit from its patent-licensing unit. In response to statements made by JANA, Qualcomm noted that it recently increased its stock repurchase authorization to $15B and repeated that it plans to repurchase $10B of common stock within one year. Barry Rosenstein of JANA Partners, while speaking on CNBC, said Qualcomm should buy back $15B of its shares over the next six months, before the company undertakes strategic actions that could move the stock higher... Apple shares were rising early in the trading day but had given up their gains by midday. Pre-orders of its new Apple Watch started Friday. The company did not release any sales figures for the first weekend, but research firm Slice Intelligence estimated that nearly one million customers in the U.S. preordered the device on the first day it was available. MAJOR MOVERS: Among the notable gainers were Alamos Gold (AGI), which rose 6%, and AuRico Gold (AUQ), which rose 7%, after the companies announced an agreement to combine via "a merger of equals" with a transaction equity value of about $1.5B. Upon completion of the deal, former Alamos and AuRico shareholders will each own approximately 50% of the new Alamos Gold and a new company, to be named AuRico Metals, will be created to hold AuRico's Kemess project and some other assets. The newly formed company will own a 4.9% equity interest in the spinoff and the remaining "SpinCo" shares will be distributed 50% each to former Alamos and AuRico shareholders. Also higher was Builders FirstSource (BLDR), which gained 65% after announcing that it has entered into an agreement to acquire ProBuild Holdings in an all-cash transaction valued at about $1.63B. Among the noteworthy losers was Basic Energy (BAS), which fell 8% after Raymond James downgraded the stock to Market Perform based on valuation, substantial pricing pressure, and industry overcapacity. Also lower were U.S.-listed shares of Sina (SINA), which dropped 5% after the Financial Times reported that China's government has warned that it will shut down the company's service if it does not "improve censorship." INDEXES: Near midday, the Dow was down 19.08, or 0.11%, to 18,038.57, the Nasdaq was up 7.93, or 0.16%, to 5,003.91, and the S&P 500 was down 3.04, or 0.14%, to 2,099.02.
10:58 EDTCNCCigna, Humana seen as potential takeover targets in Managed Care space
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07:33 EDTCNCJefferies sees low probability of WellCare, Centene buyouts
After running several acquisition scenarios for the Managed Care space, Jefferies says potential takeovers of WellCare (WCG) and Centene (CNC) are "hard to justify." The firm estimates acquirers will only be able to generate 1%-3% accretion from buying either company at a 20% premium to current share prices. The deal that makes the most financial sense is Aetna (AET) buying Cigna (CI), Jefferies says today in a note to investors. Also financially attractive would be a buyout of Humana (HUM) by either Anthem (ANTM) or Aetna, the firm adds. After analyzing the Managed Care space, it upgraded this morning shares of UnitedHealth (UNH) to Buy from Hold with a $141 price target. Jefferies also has Buy ratings on Aetna, Anthem, Health Net (HNT) and Molina Healthcare (MOH).
06:34 EDTAUQAlamos Gold and AuRico Gold agree to combine companies
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06:32 EDTAUQAlamos Gold, AuRico Gold to combine in transaction valued at about $1.5B
Alamos Gold (AGI) and AuRico Gold (AUQ) are pleased to announce that they have entered into a definitive agreement to combine their respective companies by way of a plan of arrangement, creating a new, leading intermediate gold producer. The transaction is structured as a merger of equals with a transaction equity value of approximately $1.5B. Under the terms of the Merger, holders of Alamos shares will receive, for each share held, 1 MergeCo share and $0.0001 in cash, and holders of AuRico shares will receive, for each share held, 0.5046 MergeCo shares. Upon completion of the Merger, former Alamos and AuRico shareholders will each own approximately 50% of MergeCo, named Alamos Gold. In addition, a new company, to be named AuRico Metals, will be created to hold AuRico's Kemess project, a 1.5% net smelter return royalty on the Young-Davidson mine, AuRico's Fosterville and Stawell royalties, and will be capitalized with $20M of cash. Upon completion of the Merger, MergeCo will own a 4.9% equity interest in SpinCo. The remaining shares of SpinCo will be distributed 50% each to former Alamos and AuRico shareholders. The merger is subject to shareholder and other applicable regulatory approvals and satisfaction of other customary conditions. The merger is expected to close in Q2.
06:30 EDTAUQAlamos Gold, AuRico Gold to combine in transaction valued at about $1.5B
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