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Stock Market & Financial Investment News

News Breaks
February 6, 2013
16:56 EDTDIS, CHRW, MSFT, GME, TTWO, SFLY, RS, MUSA, BIOL, BIIB, ELN, CALXOn The Fly: Closing Wrap
Stocks on Wall Street were mixed as the averages moved in a tighter range than they had during the first two trading sessions of the week. A quiet economic calendar, a light news flow and modest trading volume resulted in a quieter day for the market... ECONOMIC EVENTS: In the U.S., the Department of Energy reported that crude supplies grew by 2.62M barrels, roughly in-line with forecasts. In Japan, the governor of its central bank offered to step down three weeks before the end of his term, fueling speculation that accelerated and more aggressive stimulus measures may follow and sparking a 3.8% run-up in the Nikkei average... COMPANY NEWS: Dow component Walt Disney (DIS) opened the session at all time highs after the company's quarterly results beat consensus estimates. Citigroup also raised its price target on Disney stock to $63 from $54, but shares finished off their early highs, up 23c, or 0.42%, to $54.52... Elan (ELN) shares slid $1.06, or 10.13%, to $9.40 after the company agreed to sell its 50% interest in the Tysabri multiple sclerosis drug to Biogen (BIIB) for $3.25B in cash and future royalty payments. Biogen shares rose $3.62, or 2.3%, to $160.98 following the announcement... MAJOR MOVERS: Among the notable gainers was BIOLASE (BIOL), up 55c, or 19.43%, to $3.38 after receiving FDA clearance for a soft tissue laser device. Also higher was Metals USA (MUSA), up $2.35, or 12.84%, to $20.65 after agreeing to be acquired by Reliance Steel (RS) for $20.65 per share. Reliance steel also gained $5.56, or 8.59%, to $70.25 following the news. Among those trading higher after earnings were Shutterfly (SFLY), up $6.81, or 20.27%, to $40.40 and Take-Two Interactive (TTWO), up $1.78, or 14.06%, to $14.44. Among the noteworthy losers was GameStop (GME), down $1.61, or 6.01%, to $25.20 following a report suggesting the next version of Microsoft's (MSFT) Xbox video game system will not allow used games to be resold. Among those trading lower after earnings were C.H. Robinson (CHRW), down $6.51, or 9.71%, to $60.50 and Calix (CALX), down 83c, or 9.75%, to $7.68... INDICES: The Dow was up 7.22, or 0.05%, to 13,986.52; the Nasdaq was down 3.10, or 0.10%, to 3,168.48; and the S&P 500 was up 0.83, or 0.05%, to 1,512.12.
News For DIS;ELN;BIIB;BIOL;MUSA;RS;SFLY;TTWO;GME;MSFT;CHRW;CALX From The Last 14 Days
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August 14, 2014
19:59 EDTDISWal-Mart sees rise in DVD orders following Disney, Amazon feud, Bloomberg says
Wal-Mart's (WMT) online division has capitalized on a feud between Disney (DIS) and Amazon (AMZN) by offering discounted pre-orders on Walt Disney DVDs, according to Bloomberg. Wal-Mart pre-orders of "Captain America" have increased by 90%, while orders of other Disney DVDs have increased by 40%, Bloomberg added, citing an e-mail from Wal-Mart spokesman Dan Toporek. Reference Link
18:04 EDTMSFTInterDigital loses patent case against Nokia, ZTE, Bloomberg reports
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14:55 EDTSFLYShutterfly calls active on being eyed by several PE firms, report says
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14:40 EDTSFLYShutterfly being eyed by several PE firms, TheStreet says
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13:37 EDTSFLYShutterfly rises, move attributed to positive comments from TheDeal
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August 13, 2014
14:54 EDTMSFTEarnings Preview: Cisco reports following Deutsche upgrade, Pac Crest downgrade
Cisco Systems (CSCO) is scheduled to report fourth quarter results after the market close on Wednesday, August 13, with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 53c on revenue of $12.14B, according to First Call. The consensus range for EPS is 51c-54c on revenue of $11.8B-$12.25B. Along with its last quarterly report, Cisco guided to Q4 adjusted EPS of 51c-53c and said it expects its revenue to be down 1% to 3% in the quarter compared to the prior year. At that time, the company also said it sees its FY14 adjusted EPS to come in at the higher end of its previously communicated $1.95-$2.05 range. LAST QUARTER: On May 14, Cisco reported third quarter adjusted EPS of 51c, beating the consensus analyst forecast of 48c. It's revenue came in at $11.5B, topping the $11.38B consensus forecast. Cisco reported a Q3 adjusted gross margin of about 62.7%. NEWS: On June 17, Cisco announced its intent to acquire privately held Tail-f Systems, whose products help service providers and enterprise IT organizations easily and cost-effectively implement applications, network services and solutions across networking devices. Upon completion of the acquisition, which is expected to be complete in Q4, Tail-f employees will join Cisco's Cloud and Virtualization Group. About two weeks later, tech blog Gigaom reported that Cisco has acquired British firm Assemblage for technology that uses real-time collaboration that does not require the user to download programs or plug-ins. On July 15, Cisco announced a multi-year sales and go-to-market agreement with Microsoft (MSFT) designed to modernize data centers through the delivery and acceleration of integrated solutions. Cisco and Microsoft will both invest in sales, marketing and engineering resources to drive global alignment, while delivering deeper technology integration across cloud and data center markets, the companies stated. STREET RESEARCH: On May 21, Northland said that after speaking with Cisco's management and attending Cisco Live, the firm believed that the company is taking share form Arista Networks (ANET), which has since come public. The firm added that it did not believe that Juniper (JNPR) has gained traction in data center switching and it recommended Cisco as a cyclical recovery play and a relative bargain to peers. About a week later, Deutsche Bank upgraded its rating on Cisco shares to Buy from Hold, citing expectations that the company's new product ramps in FY15 and FY16 will be stronger than expected. Deutsche said then that it saw upside to consensus estimates and raised its price target for Cisco shares to $30 from $25. On July 28, Pacific Crest downgraded its rating on Cisco shares to Sector Perform from Outperform, citing valuation and concern that the company's margin expansion could moderate in 2015. The firm believes Cisco shares are fairly valued at $26. Less than a week ago, Morgan Stanley said its checks indicate the enterprise market is improving. The firm said it expects Cisco's outlook to be conservative and said concerns over rapid software-defined networking adoption and margin impact are overblown. Morgan Stanley has an Overweight rating with a $30 price target on Cisco. PRICE ACTION: In the last three months, Cisco has advanced about 9.5%. In afternoon trading ahead of tonight's report, Cisco shares are down 0.5% to $25.01.
August 12, 2014
13:19 EDTMSFTSony says 10M PS4 consoles have been sold since launch, TechCrunch reports
Sony has sold 10M units of the PlayStation 4 consoles to consumers since its launch last year, TechCrunch reports, citing comments made by Sony Computer Entertainment Europe CEO Jim Ryan at Gamescom 2014. Reference Link
08:01 EDTDISDisney price target raised to $101 from $96 at Argus
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05:58 EDTDISAmazon's Disney dispute about more than pricing, WSJ reports
Amazon's (AMZN) dispute with Disney (DIS) is about more than pricing, according to the Wall Street Journal, and concerns promotion and product placement on Amazon's website. Additionally, the dispute encompasses questions over "who makes up the difference when Amazon loses money to match the prices of competitors," a source says. Reference Link
05:53 EDTDISDisney cuts employees at DisneyToon Studios, Variety reports
Disney is cutting at least 16 employees at its DisneyToon Studios unit, which produced "Planes: Fire & Rescue," Variety reports, citing sources. Reference Link
05:24 EDTDISDisney, PANDORA Jewelry announce strategic alliance
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August 11, 2014
15:19 EDTMSFTMicrosoft schedules event likely focused on Lumia phones, WMPoweruser says
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10:50 EDTBIIBBiogen weakness attributed to Forward Pharma IPO filing
Shares of Biogen Idec (BIIB) came off their earlier highs and moved into negative ground in early trading, with some attributing the move lower to another pharmaceutical company, Forward Pharma (FWP), filing its registration statement with the SEC relating to a proposed initial public offering and reporting that Joel Sendek has been appointed CFO. WHAT'S NOTABLE: Forward Pharma focuses on a proprietary formulation of dimethyl fumarate, or DMF, for the treatment of multiple sclerosis. DMF is the Active Pharmaceutical Ingredient, or API, found in Tecfidera, which Biogen Idec began selling for the treatment of RRMS following approval by the FDA in March 2013 and approval by the European Commission in February 2014, Forward Pharma indicated in its IPO filing. In addition to its filing, Forward Pharma announced this morning that it has hired Joel Sendek from Stifel Financial, where he served as Managing Director, Biotechnology and led the firm's healthcare equity research group. PRICE ACTION: Shares of Biogen are down fractionally in mid-morning trading after being up over 1% soon after today's opening bell.
06:35 EDTMSFTMicrosoft Devices unveils low-cost Nokia 130 phone
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August 10, 2014
17:04 EDTDISParamount's 'Teenage Mutant Ninja Turtles' tops weekend box office, WSJ says
Paramount Pictures' (VIA,VIAB) "Teenage Mutant Ninja Turtles" edged out Disney's (DIS) "Guardians of the Galaxy," opening to an estimated $65M in the U.S. and Canada, says the Wall Street Journal. Reference Link
15:21 EDTDISAmazon stops preorders of some Disney movie titles, WSJ says
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August 8, 2014
08:42 EDTMSFTMicrosoft has made strong progress in cloud, says Pacific Crest
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08:32 EDTMSFTVMware, others could benefit from increased cloud adoption, says Pacific Crest
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07:53 EDTCALXCalix management to meet with UBS
Meeting to be held n Kansas City, MO on August 8 hosted by UBS.
06:04 EDTDISLisa and Ben Donovan leave Maker Studios, Re/code reports
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