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Stock Market & Financial Investment News

News Breaks
January 10, 2014
14:57 EDTDIS, FOXA, CMCSA, CBSSupreme Court to hear broadcaster case against Aereo, Bloomberg says
The Supreme Court has agreed to hear an appeal by media companies including Disney (DIS), 21st Century Fox (FOXA), Comcast (CMCSA) and CBS (CBS) contending that Aereo is illegally selling their live TV programming over the Internet, reported Bloomberg. Reference Link
News For DIS;FOXA;CMCSA;CBS From The Last 14 Days
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August 10, 2014
15:21 EDTDISAmazon stops preorders of some Disney movie titles, WSJ says
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August 8, 2014
17:10 EDTFOXAMarket finishes week up slightly as earnings offset by political events
Stocks finished the week fractionally higher than where they started as strong corporate earnings reports and better than expected economic data was weighed against concerns about geopolitical issues and negative M&A news. MACRO NEWS: A few ongoing geopolitical conflicts worried investors and weighed on shares. Russia unveiled sanctions against Western countries, banning the import of a wide range of food items from the U.S, the EU and a few allied countries in response to sanctions recently enacted against it from G7 nations... President Obama authorized the bombing of rebels in Iraq and Hamas and Israel failed to reach a permanent truce... An ISM services index, the U.S. trade deficit for June, and weekly jobless claims were all better than expected. Meanwhile, the increase in unit labor costs last quarter came in below the consensus outlook, perhaps easing fears that the Fed will need to raise interest rates sooner than expected. COMPANY NEWS: On the M&A front, two huge potential deals fell through as 21st Century Fox (FOX, FOXA) withdrew its offer to acquire Time Warner (TWX) and Sprint (S) reportedly decided to end its pursuit of a merger with peer T-Mobile (TMUS)... President Obama indicated that his administration would take unilateral steps in an effort to prevent companies from carrying out tax inversion acquisitions. Among the deals or possible transactions that involve inversion are Medtronic's (MDT) acquisition of Covidien (COV), Valeant's (VRX) proposed takeover of Allergan (AGN) and Mylan's (MYL) acquisition of Abbott's (ABT) developed markets branded generics pharmaceuticals business. Meanwhile, Walgreen's (WAG) stock tumbled after the U.S. company said it would not structure its takeover of European drugstore chain Alliance Boots as a tax inversion deal... 21st Century Fox, 3D printer maker Stratasys (SSYS), chip maker NVIDIA (NVDA), brewer Molson Coors (TAP), and luxury accessories maker Coach (COH) all rose following their earnings reports. Conversely, Target (TGT), luxury accessories maker Michael Kors (KORS) and Internet coupon provider Groupon (GRPN) fell following their results or guidance... Gannett (GCI) struck a deal to acquire the remaining 73% interest in Classified Ventures, whose primary asset is the online car shopping website Cars.com, for $1.8B from the other partners in the venture, which include McClatchy (MNI), Tribune Media (TRBAA), Graham Holdings (GHC) and A. H. Belo (AHC). Gannett also announced plans to spin-off its Publishing business, which includes USA Today, through a tax-free distribution to shareholders... McDonald's (MCD) stock was little changed after the company reported that its comparable store sales fell 2.5% in July, which was significantly worse than expected. Food quality issues weighed on the fast food company's sales in Asia and as a result of the China supplier issue, the company warned its previously issued global comparable sales forecast for 2014 is now at risk. INDEXES: The Dow finished the week up 0.35% to 16,553.93, the S&P 500 rose 0.32% to 1,931.59, and the Nasdaq gained 0.41% to 4,370.90.
06:04 EDTDISLisa and Ben Donovan leave Maker Studios, Re/code reports
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August 7, 2014
18:32 EDTCBSCBS sees national advertising trends accelerating in second half
18:27 EDTCBSCBS CEO Moonves says 'happy' with assets, not interested in buying CNN
18:24 EDTCBSCBS CEO Les Moonves says upfront sales volume down 'slightly'
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17:06 EDTFOXAOn The Fly: Closing Wrap
Stocks on Wall Street began the session in positive territory and appeared ready to build on yesterday’s gains. There was little to point to as a catalyst, but the early move was likely helped by better than expected initial jobless claims data and an agreement to an extended ceasefire by between Gaza and Israel. The market saw its highs shortly after the open and then began to drift lower. By noon each of the major equity indexes had crossed into negative ground and by mid-afternoon the sellers were in control and renewed the selling trend that has been prevalent in recent sessions. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 14K to 289K in the week ended August 2, versus expectations for 300K new claims. Consumer credit grew by $17.3B in June, versus expectations for it to have increased $18.3B for the month. In Europe, both the European Central Bank and the Bank of England decided to keep their main interest rates unchanged. COMPANY NEWS: 21st Century Fox (FOXA) advanced $1.63, or 5.04%, to $33.96 after the company reported higher than expected fourth quarter earnings and the stock was upgraded to Market Perform from Underperform at Cowen. Chairman and CEO Rupert Murdoch spoke on the company's earnings conference call, which is a bit outside of the recent norm, and said the company's decision to no longer pursue an acquisition of Time Warner (TWX) is "resolute." Chief Operating Officer Chase Carey echoed that the company is "done" as far as Time Warner and added that 21st Century Fox says will not pursue any other content company. MAJOR MOVERS: Among the notable gainers was inContact (SAAS), which gained $1.34, or 17.45%, to $9.02 and was upgraded at Oppenheimer and Benchmark Co. after reporting better than expected Q2 results. Also higher was Stratasys (SSYS), which rose $14.78, or 14.94%, to $113.69 after the company reported stronger than expected second quarter results and raised its guidance. Among the noteworthy losers was Thoratec (THOR), which fell $9.83, or 30.18%, to $22.74 and was downgraded by at least four Street firms following the company's Q2 miss and lowered guidance. Also lower after its earnings report were shares of Coupons.com (COUP), which fell $4.58, or 23.5%, to $14.91. INDEXES: The Dow fell 75.07, or 0.46%, to 16,368.27, the Nasdaq dropped 20.08, or 0.46%, to 4,334.97, and the S&P 500 slipped 10.67, or 0.56%, to 1,909.57.
16:05 EDTCBSCBS reports Q2 Entertainment segment revenue $1.84B
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16:04 EDTCBSCBS boosts share buyback to $6B, increases dividend 25% to 15c
CBS announced an increase in the amount available under its share repurchase program from $3B to $6B. Since the share repurchase program was initiated in January 2011, through June 30, the company has repurchased 162M shares of its Class B Common Stock for $6.8B. CBS also announced an increase to its quarterly dividend from 12c per share to 15c per share. This dividend is payable on October 1 to shareholders of record on September 10.
16:03 EDTCBSCBS boosts share buyback to $6B, to increase dividend 25%
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16:02 EDTCBSCBS reports Q2 adjusted EPS 78c, consensus 72c
Reports Q2 revenue $3.19B, consensus $3.23B. Reports Q2 free cash flow
15:33 EDTCBS Notable companies reporting after market close
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15:31 EDTCBSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include CBS (CBS), consensus 72c; Consolidated Edison (ED), consensus 54c; Monster Beverage (MNST), consensus 75c; News Corporation (NWSA), consensus 3c; NVIDIA (NVDA), consensus 20c; Computer Sciences (CSC), consensus 94c; CareFusion (CFN), consensus 72c;DeVry Education (DV), consensus 67c; Salix Pharmaceuticals (SLXP), consensus $1.72; Federal Realty (FRT), consensus $1.21; SolarCity (SCTY), consensus (99c); Medivation (MDVN), consensus 24c; Sprouts Farmers Market (SFM), consensus 18c; Alnylam Pharmaceuticals (ALNY), consensus (56c); Lions Gate (LGF), consensus 17c; Mercadolibre (MELI), consensus 56c; Post Holdings (POST), consensus 27c; Assured Guaranty (AGO), consensus 35c; Great Plains Energy (GXP), consensus 41c; Air Lease (AL), consensus 52c; Ubiquiti Networks (UBNT), consensus 51c; SemGroup (SEMG), consensus 35c.
13:25 EDTDIS, CBS, FOXA, CMCSAEarnings Preview: CBS shares little changed since Q1 report
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12:14 EDTFOXAOn The Fly: Midday Wrap
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10:43 EDTFOXA21st Century Fox rallies after results, levels to watch
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10:00 EDTFOXAOn The Fly: Analyst Upgrade Summary
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09:08 EDTFOXAOn The Fly: Pre-market Movers
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09:06 EDTFOXATime Warner reported strong results, says BMO Capital
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06:31 EDTFOXA21st Century Fox upgraded to Market Perform from Underperform at Cowen
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