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Stock Market & Financial Investment News

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December 26, 2013
06:15 EDTVLKAY, YHOO, COST, APO, BP, SHLD, GM, TGT, ODPOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: A few early studies are labeling the winners in a year where growth of online shopping has continued to outpace regular retail sales. Three retailers delivered within three days: Costco.com (COST), OfficeDepot.com (ODP) and Sears.com (SHLD), the Wall Street Journal reports...Yahoo (YHOO) may be dressed like a high-growth company but much of its value rests on its 24% stake in Alibaba. When Alibaba completes its IPO, expected next year, investors must ask whether Yahoo still is worth owning, the Wall Street Journal reports...REUTERS: The hackers who attacked Target (TGT) and compromised up to 40M credit cards and debit cards also managed to steal encrypted personal identification numbers (PINs), sources say, Reuters reports...BP (BP) failed to persuade a U.S. federal judge to require businesses seeking to recover money over the 2010 Gulf of Mexico oil spill to provide proof that their economic losses were caused by the disaster, Reuters reports...BLOOMBERG: Volkswagen (VLKAY) is poised to sell more vehicles in China than GM (GM) for the first time in nine years, regaining its place as the biggest foreign carmaker in the world’s largest auto market, Bloomberg reports...Apollo Global Management (APO) received approval from investors to increase the limit on its next buyout fund to $17.5B from $15B, sources say. The firm expects to finish raising the fund this month, a source added, Bloomberg reports.
News For COST;ODP;SHLD;YHOO;TGT;BP;VLKAY;GM;APO From The Last 14 Days
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April 8, 2014
07:28 EDTYHOOFour Internet stocks attractive after pullbacks, says Stifel
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07:17 EDTGMChina car sales up 9% as curbs spark early purchases, Bloomberg says
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07:14 EDTGMGM SUVs earn top scores among rivals in crash test, Bloomberg says
The Insurance Institute for Highway Safety said GM's (GM) Chevrolet Equinox and GMC Terrain earned the highest scores among mid-size sport-utility cars in a test made to simulate one of the deadliest kinds of front-end crashes, according to Bloomberg, citing a statement from IIHS's Chief Research Officer David Zuby. Toyota's (TM) Highlander earned an "acceptable" rating, while the other six cars that were tested were given a "marginal" or "poor" rating. Reference Link
April 7, 2014
17:25 EDTGMGeneral Motors to invest $450M in electric cars, WSJ says
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14:16 EDTGMGroup says General Motors' Impala could have air bag defect, Bloomberg reports
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11:17 EDTGMGeneral Motors upgraded to Buy from Hold at Standpoint Research
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07:01 EDTSHLDEquity One names David Lukes as next CEO
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06:35 EDTGMGM investors keep faith as recall reduces $3B in value, Bloomberg says
A variety of institutional investors in GM say they still feel confident in the stock after the recall crisis reduced more than $3B in shareholders’ value over four weeks, reported Bloomberg. Reference Link
06:29 EDTGMGeneral Motors considers range of options for victim-compensation, WSJ says
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April 6, 2014
18:12 EDTGMGM to begin fixing faulty ignition switches, WSJ says
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16:07 EDTGMGM's Opel brand planning compact electric car by 2017, Reuters says
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14:53 EDTGMMcCaskill says GM ignition case could lead to criminal charges, Reuters says
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14:21 EDTYHOOYahoo plans to acquire bigger budget TV programming, WSJ says
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April 5, 2014
19:03 EDTSHLDSears completes Land's End spin-off, receives $500M in gross proceeds
Sears Holdings (SHLD) announced that its pro-rata spin-off of Lands' End (LE) from Sears Holdings closed on April 4. Lands' End has now been separated from Sears Holdings and its common stock is expected to begin regular-way trading on the Nasdaq Capital Market under the symbol LE on April 7. Sears Holdings will continue to be listed on the Nasdaq Global Select Market under the symbol SHLD. Sears Holdings received aggregate gross proceeds from the spin-off of $500M, consisting of a cash dividend paid by Lands' End prior to the spin-off to a subsidiary of Sears Holdings. In the spin-off, Sears Holdings distributed a total of approximately 32M shares of Lands' End common stock to the holders of Sears Holdings common stock as of 5:30 p.m. Eastern time on March 24, the record date. Each share of Sears Holdings common stock outstanding as of the record date entitles the holder thereof to receive 0.300795 shares of Lands' End common stock, except that holders of Sears Holdings' restricted stock that was unvested as of the record date will receive cash awards in lieu of shares. In addition, as part of the spin-off, Lands' End entered into an asset-based senior secured revolving credit facility, which provides for maximum borrowings of approximately $175M with a letter of credit sub-limit, and a senior secured term loan facility of approximately $515M. The proceeds of the term loan facility were used to pay the $500M dividend to the Sears Holdings subsidiary and to pay fees and expenses associated with the foregoing facilities of approximately $10M, with the remaining proceeds to be used by Lands' End for general corporate purposes.
April 4, 2014
17:36 EDTGMJudge does not issue 'stop drive order' for faulty GM vehicles, Reuters says
U.S. District Court Judge Nelva Gonzales Ramos did not issue a "stop drive order" that would have parked 2.6M General Motors' cars recalled for defective ignition switches, Reuters reports. The judge said she would need additional time to study briefs submitted by attorneys, Reuters added. Reference Link
17:12 EDTGMMarket finishes mixed as Nasdaq sells off into weekend
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10:04 EDTSHLDSears risk/reward negative, says ISI Group
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07:55 EDTGM, VLKAYFord outpacing rivals in China on strength of SUVs, WSJ says
Thanks in large part to a rising demand in China for sport-utility vehicles, Ford's (F) China deliveries jumped past Toyota (TM) in 2013 and the U.S. automaker also gained on General Motors (GM) and Volkswagen (VLKAY), who it has similarly trailed in China for years, reported The Wall Street Journal. Reference Link
07:38 EDTGMGM ups truck discounts in April, Reuters says
GM (GM) again increased discounts on its full-size Chevrolet Silverado pickups after being outsold in March by Chrysler's Ram 1500, according to Reuters, citing GM's details of the discount on the company's consumer website. Chrysler is a unit of Fiat (FIATY). Reference Link
06:49 EDTGMNHTSA still receiving answers, documentation from GM, WSJ reports
GM says it has submitted 200,000 pages of records and answered more than 65% of the 107 questions the NHTSA has asked about the events leading to the ignition switch recall, though a timetable has not been released on when the information will be made public, the Wall Street Journal reports. Reference Link
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