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October 4, 2012
12:24 EDTCOST, NUVA, CX, VRNG, FB, GOOG, BKE, ROST, KSS, APP, GPS, TGT, INFAOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after initial jobless claims stayed below 370K for another week. The market opened slightly higher and drifted in positive territory during the early hours of trading. The market reached its highs near the time the headline number for factory orders showed a decline of more than 5% for the month. When transportation items were removed from the data, orders managed to show a slight increase. The market briefly reached new five year highs but then backed off and the averages have been drifting near noon... ECONOMIC EVENTS: In the U.S., jobless claims rose 4,000 to 367,000 in the week ended September 29, versus expectations for 370,000 claims. The Challenger job cuts report showed job cuts were roughly 70% lower than in the same period a year ago. Factory orders were down 5.2% in August, versus expectations for a decrease of 5.9%. In Europe, the Bank of England left its interest rates and stimulus unchanged and the European Central Bank left its benchmark rate unchanged as well. In his post announcement press conference, ECB president Mario Draghi refused to comment directly on the chances Spain was on the verge of a bailout, but said the ECB's Outright Monetary Transactions bond buying program could act quickly if a country asks for help... COMPANY NEWS: Numerous retailers reported September same-store sales figures, with a number of discount and specialty-apparel chains topping analysts’ estimates and some department stores trailing projections. Stocks advancing after the reports included Costco (COST), Target (TGT), Gap (GPS) and American Apparel (APP), while decliners included Kohl's (KSS), Ross Stores (ROST) and The Buckle (BKE)... Google (GOOG) said it is expanding its plan to cut jobs from its Motorola Mobility unit and will take $340M in related charges in Q3... Facebook (FB) now has 1B active users, CEO Mark Zuckerberg announced in a statement on its Web site... MAJOR MOVERS: Among the notable gainers was Vringo (VRNG), which extended yesterday's gains to rise another 20% the day after a federal judge ordered the company and Google to engage in patent litigation settlement talks. Also higher were shares of CEMEX (CX), which rose nearly 5% after it said that it expects its Q3 net sales to grow about 3% when adjusted for currency fluctuations. Among the noteworthy losers was NuVasive (NUVA), which fell over 32% following at least seven downgrades of its stock after the company lowered its outlook for Q3. Also lower was Informatica (INFA), down 26% following downgrades at Oppenheimer and Evercore after the company's Q3 outlook missed expectations... INDICES: Near noon, the Dow was up 84.98, or 0.63%, to 13,579.59; the Nasdaq was up 7.33, or 0.23%, to 3,142.56; and the S&P 500 was up 8.98, or 0.62%, to 1,459.97.
News For COST;TGT;GPS;APP;KSS;ROST;BKE;GOOG;FB;VRNG;CX;NUVA;INFA From The Last 14 Days
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September 18, 2014
13:57 EDTGOOGGoogle mulls new R&D unit focused on longer term projects, The Information says
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13:54 EDTFBAd dollars on Facebook outpacing amount of time people spend on site, WSJ says
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13:27 EDTFBFacebook updates story ranking criteria
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12:07 EDTFBStocks with call strike movement; JCP FB
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11:53 EDTCOSTCostco to stop accepting Amex cards in Canada on Jan 1, 2015 Globe and Mail says
Costco (COST) said it will not renew its credit card relationship with American Express (AXP) when it expires on December 31 of this year. Therefore, it will not accept Amex cards in Canada beginning January 1, 2015, The Globe and Mail reports. Reference Link
11:01 EDTTGTTarget to hire 70,000 seasonal workers in 2014, CNBC reports
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10:57 EDTGPS, BKEU.S. ITC to investigate 17 denim jean companies for patent infringement
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10:34 EDTINFAHigh option volume stocks
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10:00 EDTKSSOn The Fly: Analyst Upgrade Summary
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08:58 EDTGOOGGoogle October volatility flat on tight three-month price range
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07:26 EDTGOOGGartner: Smartwatch market ready to expand, poised for takeoff, DigiTimes says
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07:18 EDTGOOGSupply chains expect component orders from Motorola through 2014, DigiTimes says
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07:06 EDTFBFacebook volatility low into Alibaba IPO
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06:12 EDTKSSKohl's upgraded to Buy from Neutral at Citigroup
Citigroup upgraded Kohl's to Buy on expectations the company's comp store sales and margins will improve due to better product assortment, loyalty program leverage and inventory management. Citi raised its price target for shares to $70 from $63.
September 17, 2014
17:48 EDTGOOGNews Corp opposed Google EC settlement offer
Early last week, in a letter to European Commissioner for Competition Joaquín Almunia, News Corp (NWS, NWSA) CEO Robert Thomson opposed Google’s (GOOG) settlement offer with the European Commission, or EC, saying the internet giant is “willing to exploit its dominant market position to stifle competition.” Thomson said News Corp also opposed the proposed five year term of a settlement, noting that “five years is an eternity in internet time.” Citing Google’s “egregious aggregation” of content, Mr. Thomson said that, along with serious commercial damage, there is a “profound social cost” to Google’s actions. “The internet should be a canvas for freedom of expression and for high quality content of enduring value. Undermining the basic business model of professional content creators will lead to a less informed, more vexatious level of dialogue in our society.” "Your decision to reconsider Google's settlement offer comes at a crucial moment in the history of the free flow of information and of a healthy media in Europe and beyond," Mr. Thomson wrote.
10:04 EDTGOOG, FBDiscover rumored to be eyed as target by Apple, Bank Innovation says
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10:00 EDTGPSOn The Fly: Analyst Initiation Summary
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09:40 EDTFBFacebook polishing micro-sharing app 'Moments', TechCrunch reports
Facebook is polishing a new app codenamed "Moments" for micro-sharing for a select group of friends, reports TechCrunch. According to multiple sources, including who has seen a live internal version of the app, the design features a grid with a few tiles, each representing a set of close family or friends. The goal is to make selective sharing much faster than the main Facebook app. Reference Link
09:01 EDTKSSKohl's to hire over 67K associates this holiday season
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06:19 EDTGOOGGoogle picks former Qualcomm exec to head Google Fiber, WSJ reports
Google (GOOG) has hired Dennis Kish, a former Qualcomm (QCOM) executive, to head Google Fiber, replacing Milo Medin, the Wall Street Journal reports. A Google spokeswoman confirms that Medin remains a VP for access services and adviser to the Google Fiber team. Reference Link
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