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Stock Market & Financial Investment News

News Breaks
December 18, 2012
16:33 EDTDDSDillard's settles equal employment opportunity commission issues
Dillard's settled matters pending with the Equal Employment Opportunity Commission, or EEOC, concerning two policies that the EEOC alleged to violate the Americans with Disabilities Act. One policy, which was abandoned in 2007, required associates to provide a doctor's note identifying the nature of their medical condition in order to have a medical absence excused. The second policy prescribed a maximum leave period for medical related absences. Neither policy remains in effect. Further, the company denies that either policy violated the ADA. However, in order to avoid further protracted litigation with the EEOC over policies that are no longer in effect, Dillard's determined that the most efficient resolution was to settle with the EEOC. Under the settlement the company agreed to not reinstate the policies at issue as well as to other injunctive relief, and to establish a Class Fund from which current and former associates who believe they were adversely affected by the policies can make a claim.
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August 15, 2014
16:38 EDTDDSOn The Fly: Closing Wrap
Stocks on Wall Street began the session in positive territory despite some soft economic data points, including a weaker than expected report on manufacturing in the New York area and a lower than expected consumer confidence reading. The market short circuited following reports of a skirmish in the Ukraine where a Russian convoy was supposedly fired upon when it crossed the border. The averages quickly dropped and were only able to partially recover, as investors moved to the sidelines to avoid additional geopolitical risk over the weekend. ECONOMIC EVENTS: The NY Fed's Empire manufacturing survey had a reading of 14.69, versus expectations for a 20.0 reading. The Producer Price Index increased 0.1% overall, matching expectations. The core reading was up 0.2%, which was also in-line with the consensus forecast. Industrial production increased 0.4% in July, beating the consensus 0.2% growth forecast. That nudged up capacity utilization to 79.2%, versus 79.1% previously. The first University of Michigan consumer confidence reading for August fell 2.6 points to 79.2, versus expectations for it to have edged up to 82.0. Treasury international capital data showed foreigners dumped $153.5B in total U.S. assets in July after buying a revised $33.1B in June. COMPANY NEWS: Shares of Monster Beverage (MNST) surged $21.84, or 30.48%, to $93.49 after Coca-Cola (KO) bought a stake in the energy drink maker and the companies announced a long-term strategic partnership and asset swap. Coca-Cola will pay $2.15B for a 16.7% stake in Monster, the companies announced last night. Under the terms of their agreement, Coca-Cola will add two directors to Monster's board. Coke will transfer ownership of its worldwide energy business including brands like NOS, Full Throttle, Burn, Mother, Play and Power Play, and Relentless to Monster, in trade for which Monster will transfer its non-energy business to Coke. MAJOR MOVERS: Among the notable gainers was Achillion Pharmaceuticals (ACHN), which rose 81c, or 9.6%, to $9.25 after the company announced interim results from an ongoing Phase 2 proxy study of a potential chronic hepatitis C virus regimen that analysts at Piper Jaffray called "impressive." Also higher was Paylocity (PCTY), which advanced $2.17, or 9.79%, to $24.34 after reporting better than expected fourth quarter revenue and guiding to higher than expected sales in its first quarter. Among the noteworthy losers was retailer J.C. Penney (JCP), which fell 24c, or 2.46%, to $9.50 despite posting a narrower than expected loss for the second quarter. Also lower were shares of another department store owner, Dillard's (DDS), which dropped $9.49, or 8.21%, to $106.11 after reporting quarterly results that missed expectations. INDEXES: The Dow dropped 50.67, or 0.3%, to 16,662.91, the Nasdaq gained 11.92, or 0.27%, to 4,464.93, and the S&P 500 slipped 0.12, or 0.01%, to 1,955.06.
09:10 EDTDDSOn The Fly: Pre-market Movers
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08:01 EDTDDSDillard's reports Q2 EPS 80c, consensus 86c
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August 8, 2014
10:00 EDTDDSOn The Fly: Analyst Downgrade Summary
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07:31 EDTDDSDillard's downgraded to Neutral from Buy at Buckingham
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