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Stock Market & Financial Investment News

News Breaks
February 25, 2013
07:08 EDTBBY, COFCapital One price target lowered to $65 from $69 at Stifel Nicolaus
Stifel Nicolaus reduced its price target on Capital One after the company sold its Best Buy (BBY) card loans. Stifel believes that the transaction will be dilutive for Capital One, but thinks the market has overreacted to the company's recent news and maintains a Buy rating.
News For COF;BBY From The Last 14 Days
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March 3, 2015
07:48 EDTBBYBest Buy up 4.5% after Q4 earnings beat, dividend hike
07:44 EDTBBYBest Buy targeting $400M in annualized savings from phase 2 of 'Renew Blue'
Since the 3Q15 earnings release, Renew Blue annualized cost reductions have increased an additional $55M, bringing the total Renew Blue annualized cost reductions to $1.02B, Best Buy stated. In FY16, the company is launching Phase Two of its Renew Blue cost reduction and gross profit optimization program with a target of approximately $400Min annualized operating income improvement over three years, including the remaining benefit of approximately $250M from the companyís previously discussed returns, replacements and damages opportunity. These savings will be structural in nature and will be driven by streamlined processes and operational efficiencies that will be primarily enabled through investments in systems.
07:11 EDTBBYBest Buy CEO says FY16 to be year of investment
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07:10 EDTBBYBest Buy says Q4 strength in phones, large tvs offset tablet weakness
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07:08 EDTBBYBest Buy completes sale of its Five Star business in China
As previously announced on December 4, 2014, the company entered into a definitive agreement to sell its Five Star business in China. As a result of this agreement, Five Star was classified as held for sale at the end of FY15 and its results are included in discontinued operations for the current and prior-year periods. On February 13, Best Buy completed the sale of Five Star. The company has recast certain financial information for FY14 and FY15 to reflect the results from the Five Star business in China as discontinued operations.
07:05 EDTBBYBest Buy raises dividend 21%, declares special dividend, to resume share buyback
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07:03 EDTBBYBest Buy intends to buyback $1B in shares over three years
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07:02 EDTBBYBest Buy announces special dividend of 51c, raises regular dividend 21% to 23c
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07:02 EDTBBYBest Buy reports Q4 EPS $1.48, consensus $1.35
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March 2, 2015
15:23 EDTBBYNotable companies reporting before tomorrow's open
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14:32 EDTBBYBest Buy March weekly 38.5 straddle priced for 7% movement into Q4
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14:28 EDTBBYBest Buy technical comments before results
The stock has had a strong advance over the prior year, but that has stalled somewhat heading into earnings in the last few months. The shares have been in a trading range largely bound by $35 at the low, and $40 at the high. Those two levels can help up project where price may go following results. A breakout above the $40 area, at the 52-week high, would be bullish. Based on the size of the trading range, we could expect a move to the $45 area would then be in the cards, or possibly better depending on the degree of positive surprise. If the news is bearish and price breaks down below $35, the following support levels could become downside objectives: $33.17, $31.30.
08:11 EDTCOFCapital One slips after Costco enters co-brand card pact with Visa, Citi
Shares of Capital One (COF) are slipping in pre-market trading after Costco Wholesale (COST) announced it has entered into a new co-brand credit card program agreement with Citi (C) and an acceptance and co-brand incentive agreement with Visa (V). The Fly notes that on February 12 American Express (AXP) announced that its U.S. co-brand and merchant acceptance agreements with Costco are set to end on March 31, 2016. On October 1 of last year, MasterCard Canada (MA) entered into an agreement with Costco Canada to open credit card acceptance to MasterCard cardholders. In addition, Capital One rolled out a new cobranded MasterCard credit card with Costco Canada at that time, which may have led some to speculate that Capital One and MasterCard could have the inside track for a U.S. deal with Costco. In pre-market trading, Capital One shares slid 0.56% to $78.27 and MasterCard shares slipped fractionally lower to $90.
07:59 EDTBBYBest Buy volatility elevated into Q4 and outlook
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March 1, 2015
17:44 EDTBBYSprint, Best Buy announce 'Best Buy One Plan'
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February 27, 2015
09:46 EDTBBYBest Buy management to meet with JPMorgan
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February 26, 2015
12:04 EDTBBYBest Buy volatility increases into Q4 and outlook
Best Buy March weekly call option implied volatility is at 60, March is at 42, April is at 35, June is at 34; compared to its 26-week average of 41 according to Track Data, suggesting large near term price movement into the expected release Q4 results on March 3.
February 25, 2015
10:38 EDTCOFCapital One says cooperating with anti-money laundering probe
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February 20, 2015
10:47 EDTCOFNY AG says Santander Bank to adopt new policies regarding use of ChexSystems
New York Attorney General Eric T. Schneiderman announced that Santander Bank, N.A. (SAN) has agreed to adopt new policies governing its use of ChexSystems, a consumer-reporting agency that screens people seeking to open checking or savings accounts. Santanderís new policies are expected to allow thousands of additional New Yorkers and consumers nationwide to open bank accounts by September 30. The change comes amid concerns that screenings by ChexSystems and other consumer-reporting agencies, which are used by most of the nationís banks, adversely affect lower-income applicants and force them to turn to high-cost alternative financial services like check-cashing outlets. With this agreement, Santander now joins Capital One (COF) and Citibank (C) as the third bank to commit to overhaul its use of ChexSystems. The three banks operate a combined 613 branches across New York State and 2,822 branches nationwide.
February 18, 2015
09:32 EDTBBYComarco files patent suit against Best Buy
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