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Stock Market & Financial Investment News

News Breaks
December 20, 2012
14:03 EDTDDAIF, VLKAY, F, HMC, NSANY, TSLA, GM, FIATY, TMFirms say U.S. vehicle sales expected to rise 15% this month
U.S. vehicle sales will increase 15% year-over-year this month, J.D. Power and LMC Automotive. forecast. Potential buyers have been "unfazed" by the looming fiscal cliff, J.D. Power and LMC Automotive.stated. Reference Link
News For DDAIF;VLKAY;F;HMC;NSANY;TSLA;GM;FIATY;TM From The Last 14 Days
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August 11, 2014
16:00 EDTTSLAOptions Update; August 11, 2014
iPath S&P 500 VIX Short-Term Futures down 1.33 to 31.90. Option volume leaders: AAPL KMI MNKD PBR AMZN SCTY TWTR TSLA according to Track Data.
15:23 EDTTM, GM, TSLAJPMorgan to hold a conference
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12:25 EDTTSLAOn The Fly: Midday Wrap
Stocks on Wall Street opened in positive territory and have remained there throughout the morning. There was little in the way of a catalyst, as the economic calendar was empty, though investors may have been encouraged that there was no breakdown in the ceasefire agreement between Israel and Gaza and no big headlines from the Russia/Ukraine border. Additionally, some may have viewed comments from Fed Vice Chair Fischer as dovish and in support of continued easing. ECONOMIC EVENTS: In the U.S., no significant economic data was released. In prepared comments for a conference, Federal Reserve Vice Chairman Stanley Fischer said rebounds across advanced economies have been disappointing, leading the Fed and other observers to lower their long-term expectations for growth potential in the U.S. COMPANY NEWS: Shares of Kinder Morgan (KMI) advanced 10% after announcing it will consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). In addition to the rise in the shares of the parent, Kinder Morgan Energy shares rose 19%, Kinder Morgan Management gained 25% and El Paso Pipeline moved up 22%. MAJOR MOVERS: Among the notable gainers was salad and banana producer Chiquita Brands (CQB), which jumped 31% to trade above $13 per share after Cutrale Group and the Safra Group proposed to acquire 100% of the company's outstanding stock for $13 in cash each. Also higher was electric car maker Tesla (TSLA), which rose 5% after Deutsche Bank upgraded the stock to Buy from Hold and raised its price target on the shares to $310 from $220. Among the noteworthy losers was social game maker King Digital (KING), which slid 3% after the stock was downgraded at Pacific Crest to Sector Perform from Outperform. Also lower following their earnings reports were Inovio (INO), which fell over 8%, and Gogo (GOGO), which dropped nearly 6%. INDEXES: Near midday, the Dow was up 51.25, or 0.31%, to 16,605.18, the Nasdaq was up 38.19, or 0.87%, to 4,409.08, and the S&P 500 was up 10.12, or 0.52%, to 1,941.71.
11:52 EDTTSLATesla advances following Deutsche Bank upgrade
Shares of electric car maker Tesla (TSLA) are rising after Deutsche Bank upgraded the stock to Buy from Hold and raised its price target on the shares to $310 from $220. WHAT'S NEW: This morning, Deutsche Bank analyst Rod Lache upgraded Tesla, citing guidance issued by the company on its second quarter earnings conference call. On the call, Tesla's management indicated that its growth trajectory will be steeper, its product mix much richer, and its costs significantly lower than previously thought. Lache increased his growth forecasts as a result, taking up his FY15-FY17 volume estimates to 60,000, 100,000, and 129,000 units from previous views of 51,000, 60,000, and 83,000 units, respectively. The analyst added that even these forecasts may prove conservative since Tesla expects to end 2014 and 2015 with 50,000 and 100,000 units of capacity. The firm sees a clear path to 500,000 units of annual production by the end of the decade and expects growth to continue as Tesla continues to seek additional production capacity. In terms of product mix, Deutsche expects Tesla sales to gravitate more towards the Model S and X versus the Model 3, thus increasing their profitability. In addition, Tesla is targeting battery pack costs of $150/kWh by late 2017 versus about $250/kWh today, and they see costs falling below $100/kWh within ten years. If achieved, these levels could provide an outright cost advantage for Tesla's electric vehicles compared to their gas operated competitors. WHAT'S NOTABLE: Based on the improved outlook, the analyst now expects EPS in the $27 range by 2020, up from his prior view of $20. Lache raised his 12-month price target on the shares to $310 from $220. PRICE ACTION: In late morning trading, Tesla rose $12.54, or 5%, to $260.67. Including today's advance, the stock is up approximately 70% over the past 12 months.
10:19 EDTTSLAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Outperform from Market Perform at Wells Fargo... Alon USA Partners (ALDW) upgraded to Outperform from Neutral at Credit Suisse... Buenaventura (BVN) upgraded to Buy from Underperform at BofA/Merrill... CNO Financial (CNO) upgraded to Overweight from Equal Weight at Morgan Stanley... Central European Media (CETV) upgraded to Neutral from Sell at Goldman... Cepheid (CPHD) upgraded to Neutral from Cautious at ISI Group... Chuy's (CHUY) upgraded to Outperform from Market Perform at Raymond James... Compressco (GSJK) upgraded to Strong Buy from Market Perform at Raymond James... Concho Resources (CXO) upgraded to Overweight from Equal Weight at Stephens... Frank's International (FI) upgraded to Neutral from Sell at Goldman... Freeport McMoRan (FCX) upgraded to Buy from Hold at Argus... GNC Holdings (GNC) upgraded to Outperform from Neutral at Credit Suisse... Genworth (GNW) upgraded to Equal Weight from Underweight at Morgan Stanley... Gulfport Energy (GPOR) upgraded at Stifel... Huntington Ingalls (HII) upgraded to Buy from Neutral at UBS... Hyatt Hotels (H) upgraded at Stifel... J.C. Penney (JCP) upgraded to Hold from Sell at Craig-Hallum... Kinder Morgan (KMI) upgraded to Buy from Neutral at BofA/Merrill... Krispy Kreme (KKD) upgraded to Outperform from Neutral at Wedbush... Oasis Petroleum (OAS) upgraded to Buy from Neutral at Sterne Agee... PepsiCo (PEP) upgraded to Buy from Neutral at UBS... Regency Centers (REG) upgraded to Neutral from Underperform at BofA/Merrill... SandRidge Energy (SD) upgraded to Reduce from Sell at KLR Group... Southwest Gas (SWX) upgraded to Buy from Hold at Brean Capital... Tesla (TSLA) upgraded to Buy from Hold at Deutsche Bank.
09:36 EDTTSLAActive equity options trading on open
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09:06 EDTTSLAOn The Fly: Pre-market Movers
HIGHER: PharmAthene (PIP), up 55% after announcing that a Delaware court awarded the company lump sum expectation damages for the value of its lost profits for SIGA Technologies' (SIGA) smallpox antiviral, Tecovirimat... MannKind (MNKD), up 19% after entering exclusive licensing agreement for development and commercialization of Afrezza inhaled insulin with Sanofi (SNY)... Kinder Morgan (KMI), up 19% after announcing it will acquire all of the outstanding equity securities of Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB)... Tesla (TSLA), up 2.7% following upgrade at Deutsche Bank... Achillion (ACHN), up 6% following upgrades at Wells Fargo and at Piper Jaffray... PepsiCo (PEP), up 0.9% following upgrade at UBS. LOWER: Dean Foods (DF), down 8.6% after reporting Q2 losses that were steeper than expected, saying balance of year "appears rocky," which makes it difficult to provide guidance beyond the immediate quarter... Priceline (PCLN), down 0.7% after reporting Q2 revenue that missed expectations, guiding Q3 EPS below consensus... SIGA Technologies, down 31% after ruling in suit with PharmAthene... 2U (TWOU), down 4.3% after downgraded at Goldman.
07:14 EDTNSANY, TM, HMCToyota, Honda to cut prices in China following probe, Reuters says
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06:38 EDTGMGM's ignition switch fund receives 63 death case claims, AP reports
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06:38 EDTTSLATesla upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded its rating on Tesla (TSLA) shares to Buy saying it expects the electric car maker to be much more profitable than previously thought following comments on the company's Q2 earnings call. Deutsche now thinks Tesla can produce 500,000 units of annual production by late this decade. It raised its price target for the stock to $310 from $220. Shares of Tesla closed Friday down $2.46 to $248.13.
06:07 EDTGMGM's Lansing plant to halt Cadillac production temporarily, Detroit News reports
General Motors will halt Cadillac production at its Lansing Grand River Assembly Plant for three weeks, effective August 18, the Detroit News reports. According to sources, the halt is due to lower than expected demand for the cars. Reference Link
August 9, 2014
15:53 EDTVLKAYVW recalls 151k Tiguans on stalling possibility, WSJ says
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15:40 EDTGMGM loses attempt to dismiss revived ignition-death lawsuit, Bloomberg says
A Georgia judge rejected General Motors' attempt to dismiss a revived lawsuit over the death of woman that precipitated the recall of 2.59M cars over faulty ignition switches, says Bloomberg. Reference Link
August 8, 2014
16:00 EDTTSLAOptions Update; August 8, 2014
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14:09 EDTGMGeneral Motors announces 269K vehicle recall
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11:13 EDTFFord China reports July sales up 25% to 90,775 vehicles sold
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10:52 EDTVLKAYVolkswagen recalls 2009 Routans due to ignition defect
The company said that it is recalling 2009 Routan vehicles due to an ignition defect. The key fob should be removed from the key ring. Road conditions or some other jarring event may cause the ignition switch to move out of the run position, turning off the engine. If the ignition key inadvertently moves into the "off" or "accessory" position, the engine will turn off, which will then depower various key safety systems including but not limited to air bags, power steering, and power braking. Loss of functionality of these systems may increase the risk of crash and/or increase the risk of injury in the event of a crash. Volkswagen will notify owners, and dealers will modify the ignition switch, free of charge. The recall is expected to begin in August. Reference Link
09:37 EDTTSLAActive equity options trading on open
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06:47 EDTGMGM aims to unveil new Volt hybrid in six months, Reuters says
GM said that it plans to showcase its newest model of its Chevrolet Volt hybrid electric vehicle in six months, reported Reuters. Company officials did not explain details on the pricing or driving range of the 2016 model, but said the car will be revealed at the North American International Auto Show. Reference Link
06:35 EDTHMC, TM, NSANYNissan nears Honda U.S. sales due to designs, costs, Reuters says
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