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Stock Market & Financial Investment News

News Breaks
May 15, 2014
12:34 EDTGM, WMT, ACXM, KND, CSCO, NQ, GTIVOn The Fly: Midday Wrap
Stocks on Wall Street began the session in negative territory, extending yesterday's slide, and have remained there throughout the morning. The Dow is down about 1%, though that decline is less than either the S&P 500 or Nasdaq have experienced. The blue chip index is being weighed on by a post-earnings slide in shares of Wal-Mart (WMT), but that decline has been somewhat offset by the advance of fellow component Cisco (CSCO) after its own strong report. ECONOMIC EVENTS: In the U.S., initial claims fell to a new cycle-low 297K in the second week of May, which was below the expectation for 315K initial claims. The Consumer Price Index rose 0.3% in April compared to the prior month, as expected. The NY Fed's Empire State survey has a reading of 19.01, which was a four-year high and well above the forecast for a reading of 5.0. Industrial production fell 0.6% in April, which was worse than the expected decline of 0.1%. Capacity utilization fell to 78.6% in the month, which was also worse than expected. The Philadelphia Federal Reserve index fell to 15.4 in May from its prior reading of 16.6, which was a smaller decline than anticipated. The NAHB housing market index fell to 45 in May, undershooting the consensus estimate of 48. COMPANY NEWS: Two blue chip names were moving in different directions following their earnings reports, as tech giant Cisco lead all advancers on the Dow and the world's largest retailer, Wal-Mart, was the laggard on the index. Cisco shares gained almost 7% near noon after the company's Q3 results beat expectations and analysts at Cantor called the company's tone on its conference call "the most upbeat in over a year." Conversely, Wal-Mart fell 2.5% at midday after the company's earnings for the just ended quarter and its guidance for current quarter profits both trailed analysts' consensus forecast... General Motors (GM) shares are down nearly 3% after the company announced five new safety recalls covering about 2.7M vehicles in the United States. MAJOR MOVERS: Among the notable gainers was Gentiva Health (GTIV), which jumped 61% and was upgraded to Market Perform from Underperform at Raymond James after Kindred Healthcare (KND) made public its proposal to acquire Gentiva for a combination of $7.00 per share in cash and $7.00 of Kindred common stock. Shares of Kindred, which said that Gentiva has not been willing to discuss a transaction, also rose 6% after the announcement. Among the noteworthy losers was NetQin Mobile (NQ), which plunged 25% after the Chinese company, which has previously been accused of fraud by short-seller Muddy Waters, said it was unable to file its annual report on time because it needs additional time to complete it. Also lower was Acxiom (ACXM), which dropped 22% after the company gave a lower than expected FY15 outlook and announced a deal to acquire LiveRamp for $310M in cash. INDEXES: Near midday, the Dow was down 195.53, or 1.18%, to 16,418.44, the Nasdaq was down 60.36, or 1.47%, to 4,040.26, and the S&P 500 was down 25.16, or 1.33%, to 1,863.37.
News For CSCO;WMT;GTIV;KND;GM;NQ;ACXM From The Last 14 Days
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March 22, 2015
18:22 EDTWMTWal-Mart shareholders allowed to vote for independent chairman, Reuters says
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March 20, 2015
08:01 EDTGMStifel says evidence supports Apple moving into electric vehicles
Analysts at Stifel say they see enough evidence to suggest that Apple is internally working on the development of a battery electric vehicle to be sold over the next five-to-ten years. The analysts are "intrigued" by Apple CFO Luca Maestri's background at General Motors (GM). They believe Apple's investments in manufacturing should be a key consideration for investors and point out the $40B spent by the iPhone maker over the past five years, with 80%-plus invested in manufacturing, is similar to GM, Ford (F) and Daimler-Benz and well above Tesla's $1.8B cumulative capex. The analysts say there is a "lot to think about" regarding Apple's move into the car space, including the regulatory environment. They keep a Buy rating on the tech giant with a $150 price target. Shares of Apple closed yesterday down 97c to $127.50.
07:24 EDTCSCOBroadcom chip renews competition with in-house hardware makers, WSJ says
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06:22 EDTGMGM CEO to be questioned October 8 over ignition failures, AP says
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March 19, 2015
09:20 EDTNQOn The Fly: Pre-market Movers
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09:07 EDTNQNQ Mobile appoints Chun Ding as independent director of board
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06:28 EDTWMTWal-Mart's Walmex unit to expand more slowly this year, Reuters reports
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06:00 EDTCSCOStocks with implied volatility below IV index mean; CYBR CSCO
Stocks with implied volatility below IV index mean; CyberArk (CYBR) 69, Cisco (CSCO) 20 according to iVolatility.
05:50 EDTCSCOTCL and Cisco announce mobile cross-terminal platform, DigiTimes reports
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March 18, 2015
18:32 EDTNQOn The Fly: After Hours Movers
UP AFTER EARNINGS: Guess (GES), up 12.4% after reporting fourth quarter results and guidance... Shoe Carnival (SCVL), up 10%... NQ Mobile (NQ), up 9.1%... Tilly's (TLYS), up 1.3%... Cintas (CTAS), up 1.3% after reporting quarterly results and raising fiscal 2015 guidance. DOWN AFTER EARNINGS: Williams-Sonoma (WSM), down 4.1%... Jabil Circuit (JBL), down 1.8%... Juno Therapeutics (JUNO), down 3.3%. ALSO LOWER: Concert Pharmaceuticals (CNCE), down 4.4% after filing to sell common stock... Tekmira Pharmaceuticals (TKMR), down 3.7% after filing to sell 6M shares of common stock.
17:03 EDTNQNQ Mobile sees FY15 revenue $450M-$455M, one estimate $424M
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17:03 EDTNQNQ Mobile sees Q1 revenue $85M-$86M, one estimate $94.73M
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17:01 EDTNQNQ Mobile reports Q4 EPS 3c, one estimate 2c
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09:36 EDTWMTActive equity options trading on open
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08:37 EDTGMGeneral Motors says to change business model in Russia
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08:36 EDTGMGeneral Motors says to idle auto plant in St. Petersburg
05:35 EDTCSCODeutsche Telekom and Cisco launch intercloud services on OpenStack
Deutsche Telekom (DTEGY) and Cisco (CSCO) are announcing a newly developed Intercloud-based services for small- and medium-sized businesses and enterprise customers. The two companies announced their Intercloud collaboration in September 2014. Deutsche Telekom and Cisco are currently setting up the necessary infrastructure for a redundant Intercloud node in Deutsche Telekom's high-performance data centers in Magdeburg and Biere near Berlin, Germany. Deutsche Telekom will deliver sovereign and highly secure services that meet Germany's strict data protection standards to business customers throughout the European region.
March 17, 2015
14:13 EDTGMMorgan Stanley questions GM capital allocation plan
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08:05 EDTGMGeneral Motors coverage resumed with an Underweight at Morgan Stanley
Morgan Stanley reinstated General Motors with an Underweight and $28 price target. The firm believes GM's agreement to accelerate capital returns to investors is a popular short-term decision but raises questions longer-term by increasing both financial and strategic risks.
06:23 EDTGMGM employees to be deposed for class action case, NY Times says
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