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Stock Market & Financial Investment News

News Breaks
February 14, 2014
17:09 EDTDIS, TMO, FOXA, CF, TIBX, STZ, COG, FDX, HTZ, LBTYK, YHOO, GILD, LNG, TMUS, LBTYA, NLSN, GOOG, WMB, DOW, AIGThird Point gives quarterly update on stakes
NEW STAKES: Dow Chemical (DOW), T-Mobile (TMUS), Hertz (HTZ), Williams (WMB) and Cheniere (LNG). INCREASED STAKES: FedEx (FDX), Google (GOOG), Gilead (GILD), Cabot (COG) and Nielsen Holdings (NLSN). DECREASED STAKES: Yahoo (YHOO), AIG (AIG), Liberty Global (LBTYA), Liberty Global (LBTYK), Constellation Brands (STZ). LIQUIDATED STAKES: CF Industries (CF), Thermo Fisher (TMO), Tibco (TIBX), Twenty-First Century Fox (FOXA) and Disney (DIS).
News For DOW;TMUS;HTZ;WMB;LNG;FDX;GOOG;GILD;COG;NLSN;YHOO;AIG;LBTYA;LBTYK;STZ;CF;TMO;TIBX;FOXA;DIS From The Last 14 Days
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December 5, 2014
16:54 EDTDISDisney initiated with a Buy at UBS
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16:36 EDTYHOOOn The Fly: Closing Wrap
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12:50 EDTYHOO, GOOGOn The Fly: Midday Wrap
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10:20 EDTGOOG, YHOOYahoo rises, Google falls after BofA changes ratings on both
Shares of Yahoo (YHOO) are rising and Google's (GOOG, GOOGL) stock is falling after Bank of America Merrill Lynch upgraded Yahoo and downgraded Google. WHAT'S NEW: Bank of America analyst Justin Post upgraded his rating on Yahoo to Buy from Neutral. Post said he had previously not expected to obtain information about Yahoo's strategy for avoiding taxes on the sale of its stake in Chinese e-commerce giant Alibaba (BABA) at least until well into 2015. However, Yahoo's CFO recently stated that the company continued to be optimistic that it would be able to cut its tax bill and added that the company would divulge its plans for doing so during its next earnings conference call. Yahoo's next earnings conference call is expected to take place by the end of next month, Post noted. He set a $62 price target on Yahoo shares. Meanwhile, Post downgraded Google to Neutral from Buy. The analyst thinks the company is facing several headwinds, including the maturity of its search business, a lack of products that can provide catalysts, and margin pressures as it invests in competitive businesses. As a result of these headwinds, Google's results are likely to be below expectations, Post believes. Meanwhile, the company is also facing increased regulatory risk, particularly in the EU, and increased competition from Facebook (FB) and other social networks. He trimmed his price target on Google to $580 from $600. PRICE ACTION: In early trading, Yahoo climbed 1% to $50.94, while Google class A shares declined 1.5% to $534.33.
10:18 EDTHTZAvis Budget and Hertz November data positive, says MKM Partners
MKM Partners said Manheim data for November was 123.3, above expectations and October's reading of 12.8. The firm said Manheim and other data is supportive of positive trends in the car rental industry.
10:00 EDTTIBXVista Equity Partners completes acquisition of TIBCO Software
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10:00 EDTGOOGOn The Fly: Analyst Downgrade Summary
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10:00 EDTYHOOOn The Fly: Analyst Upgrade Summary
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09:36 EDTGILD, YHOOActive equity options trading
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08:55 EDTYHOO, GOOGYahoo seen overtaking Twitter in U.S. mobile ad market share, WSJ reports
Research firm eMarketer predicts Google (GOOG, GOOGL) and Facebook (FB) will account for about 35% and 17%, respectively, of the U.S. mobile ad market in 2015, but the firm also expects Yahoo (YHOO) will edge past Twitter (TWTR) in terms of mobile ad revenue, with projected market shares of 3.74% and 3.69%, respectively, reported The Wall Street Journal. Reference Link
08:31 EDTDOWDow Chemical to sell global Sodium Borohydride business to Vertellus
The Dow Chemical Company has signed definitive agreements to sell its global Sodium Borohydride business to Vertellus Specialty Materials LLC and its polyolefin films plant in Findlay, Ohio to Valfilm North America, a wholly-owned subsidiary of VALGROUP Packaging Solutions. Both transactions are expected to close in the first quarter of 2015 pending regulatory approvals. Combined proceeds from the transactions total approximately $225M. Dow had previously announced its intent to divest its Sodium Borohydride business on Oct. 2, 2014, as part of the Company’s ongoing focus to maximize value across its integrated portfolio by reducing exposure to non-strategic businesses and assets. Both transactions are part of Dow’s ongoing drive to deliver $7B-$8.5B in gross proceeds by mid-2016. The divestiture of Sodium Borohydride includes a manufacturing facility located in Elma, Washington, the associated business, inventory, customer contracts and lists, process technology, business know-how and certain intellectual property. Approximately 75 employees globally are expected to transition employment status to Vertellus as part of the transaction. Under the terms of the purchase agreement, Vertellus will honor customer and supplier contracts and related agreements. The sale of the Findlay plant includes assets and technology that produce a wide-variety of polyolefin films. In September 2014, Dow decided to close the facility at the end of January 2015, impacting approximately 70 employees. Valfilm intends to restart the facility in February 2015. The transaction is dependent on the final approval for all incentives by the State of Ohio.
08:14 EDTGOOGGoogle volatility low into being downgraded to Neutral from Buy at BofA/Merrill
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07:43 EDTYHOOFollow-up: Yahoo upgraded at BofA/Merrill
As previously reported, BofA/Merrill upgraded Yahoo (YHOO) to Buy from Neutral. The firm upgraded shares based on increased optimism for a Alibaba (BABA) tax solution and a slight improvement in the core business outlook. Price target raised to $62 from $55.
07:38 EDTGOOGFollow-up: Google downgraded at BofA/Merrill
As previously reported, BofA/Merrill downgraded Google to Neutral from Buy. The firm lowered estimates slightly below the Street due to lack of product catalysts, search maturity, and margin pressure from investments. BofA/Merrill is also cautious on online advertising growth given increased regulatory risk in the EU, potential Facebook (FB) competition, share loss from social growth, and a strong Apple (AAPL) product cycle. Price target lowered to $580 from $600.
07:37 EDTGILDGilead price target raised to $121 from $110 at JPMorgan
JPMorgan raised its price target for Gilead shares to $121 saying the company's potential cash flow generation is "immense" and provides "significant strategic flexibility." The firm estimates Gilead can generate more than $30B in cash in the next two years and $80B-plus over the next five years. It keeps an Overweight rating on the stock.
07:28 EDTGOOGGoogle downgraded to Neutral from Buy at BofA/Merrill
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07:28 EDTYHOOYahoo upgraded to Buy from Neutral at BofA/Merrill
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07:27 EDTNLSNNielsen to host analyst meeting
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06:15 EDTGOOGGoogle revamps incentive program for firms that sell productivity apps, services
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06:03 EDTGOOGiOS mobile traffic shows iPhone 6 launch strong, says Piper Jaffray
Piper Jaffray says that according to Quantcast data, Apple's (AAPL) iOS mobile traffic share increased from 60.6% at iPhone 6 launch to 61.4% nine weeks after launch, while Google's (GOOG) Android decreased from 38.4% to 37.5% in the same period. Piper views the iOS mobile traffic share as further evidence that the iPhone 6 launch in the U.S. is off to a strong start. It keeps an Overweight rating on Apple shares with a $135 price target.
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