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Stock Market & Financial Investment News

News Breaks
December 12, 2013
10:24 EDTNWSA, CVC, CBS, DISCablevision: Broadcasters are wrong in attacking Aereo, Variety reports
Cablevision said in its white paper that although Aereo had violated the law, broadcasters are "overreaching" in suing the startup, reports Variety. Cablevision added that the broadcasters' arguments would cause "grave harm to consumers, cloud-based technology and future innovation" if accepted. Reference Link
News For CVC;DIS;CBS;NWSA From The Last 14 Days
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April 17, 2014
07:37 EDTCBSIron Mountain could be valued above $40/share with REIT, says William Blair
William Blair continues to believe the odds of REIT conversion for Iron Mountain (IRM) remain about 50/50 after shares rallied on CBS' (CBS) favorable REIT ruling. The firm thinks the rationale for the CBS ruling are likely unrelated to issues under consideration for Iron Mountain. It estimates shares of Iron Mountain could be valued above $40 with REIT approval. The firm finds the risk/reward into the decision as favorable and keeps an Outperform rating on the stock.
April 16, 2014
16:40 EDTCBSOn The Fly: Closing Wrap
Stocks on Wall Street were higher after Fed Chair Janet Yellen struck a dovish tone in comments to the Economic Club of New York, which was in step with the minutes of the last FOMC meeting released last week. The Fed also released its latest Beige Book report, which indicated that economic activity increased in most regions after the severe winter weather that gripped much of the country to start the year had let up. Corporate earnings season continues to pick up steam, with Dow members IBM (IBM) and American Express (AXP), as well as Google (GOOG), reporting after the market close. ECONOMIC EVENTS: In the U.S., housing starts in March were up 2.8% from the prior month to a rate of 946K, versus expectations for an increase of 7%. Building permits were down 2.4% to a 990K rate, versus expectations for a decline of 0.4%. Industrial production rose 0.7% in March, which was ahead of the 0.5% forecast. The Fed's Beige Book report indicated that economic activity rebounded and strengthened in most regions over the last six week. In China, data showed its economy grew 7.4% in the first quarter from a year earlier, providing relief after recent signs that growth in the world's second largest economy has been slowing. COMPANY NEWS: Bank of America (BAC) fell 26c, or 1.59%, to $16.13 after the bank reported a first quarter loss of 5c per share, largely due to $6B in legal charges. Excluding the impact of this litigation expense, which was related to a previously announced settlement with the Federal Housing Finance Agency and other legacy mortgage-related matters, the banking major reported earnings that appeared to beat estimates... Yahoo (YHOO) gained $2.14, or 6.26%, to $36.35 after its quarterly report, with investors reacting most positively to the 66% year-over-year revenue growth reported by Chinese e-commerce company Alibaba, in which Yahoo holds a 24% stake. Yahoo's quarterly profit and revenue also beat expectations and the company's CEO Marissa Mayer said during its earnings webcast that the search giant's core business has moved from declining growth to stable to modest growth. MAJOR MOVERS: Among the notable gainers was CBS Outdoor (CBSO), which jumped $1.94, or 6.69%, to $30.96 after the IRS approved a plan for the company, which was just last week spun-off from its parent CBS (CBS), to convert into a real estate investment trust, or REIT. Other companies seeking REIT status, including Equinix (EQIX), Iron Mountain (IRM) and Lamar Advertising (LAMR), also rose following CBS' announcement. Also higher was drugmaker Zogenix (ZGNX), up 48c, or 20.51%, to $2.82 after confirming that a judge prevented a ban on sales of the company's Zohydro pain medication in Massachusetts. Among the noteworthy losers were U.S.-listed shares of Credit Suisse (CS), which fell 54c, or 1.7%, to $31.22 after the Swiss bank reported net income and revenue that fell when compared to the prior year. Also lower were Agnico Eagle Mines (AEM) and Yamana Gold (AUY) after agreeing to jointly acquire Osisko Mining. Angico shares fell $2.61, or 8.56%, to $27.88, while Yamana was down 36c, or 4.3%, to $8.02. INDEXES: The Dow was up 162.29, or 1.0%, to 16,424.85, the Nasdaq was up 52.06, or 1.29%, to 4,086.23, and the S&P 500 was up 19.33, or 1.05%, to 1,862.31.
16:17 EDTCBSCBS favorable PLR a positive for Equinix, says Wells Fargo
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15:10 EDTCBSCBS Outdoor, other REIT seekers rise after IRS ruling
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14:47 EDTCBSIron Mountain, Lamar Advertising higher after IRS ruling on CBS Outdoor
Shares of Iron Mountain (IRM), up 3%, and Lamar Advertising (LAMR), up 4%, are higher after the IRS approved CBS Outdoor's (CBSO) plan to convert to a REIT. Iron Mountain and Lamar have both been seeking to gain REIT status with the IRS. Shares of CBS Outdoor are also higher, up more than 5%, following the announcement, as are shares of its parent company, CBS (CBS), up more than 2%.
14:43 EDTCBSCBS gets favorable REIT ruling from IRS
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06:27 EDTDISNBCUniversal planning digital video push
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April 15, 2014
10:10 EDTDISMaker Studios stays with Disney offer, Re/code says
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April 14, 2014
17:53 EDTDISMaker Studios stays with Disney offer, Re/code says
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13:03 EDTDISRelativity Media looks to outbid Disney for Maker Studios, Bloomberg says
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11:09 EDTCBSOptions with increasing implied volatility: HZNP VJET YOKU CTRX CBS
07:09 EDTDISWalt Disney May volatility elevated into investor day
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06:47 EDTDIS'Captain America' surpasses "Rio 2' in weekend box office, LA Times says
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April 11, 2014
10:59 EDTCBSOptions with increasing implied volatility: EXPE PBI CROX CBS ADSK
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10:38 EDTDISDisney to host investor day
Investor Day to be held on April 17 at 12:30 pm. Webcast Link
April 10, 2014
12:03 EDTCBSCBS says Stephen Colbert to be next 'Late Show' host
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07:21 EDTDISHulu's head of original programming development to leave company, AdWeek says
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April 9, 2014
15:48 EDTCVCCablevision promotes Sweeney to President, Kristin Dolan to COO
Cablevision announced the promotions of two long-time senior executives. Brian Sweeney has been named President and Kristin Dolan has been appointed COO. Along with these new positions, both were elected executive officers of the company. These leadership appointments are effective immediately and Sweeney and Dolan will report to Cablevision CEO James Dolan, who will no longer serve as president of the company.
14:42 EDTDISHSN and Disney Studios announce multi-film collaboration
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08:33 EDTNWSANews Corp. acquires U.K. luxury shopping website Handpicked Companies
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