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Stock Market & Financial Investment News

News Breaks
December 4, 2012
12:08 EDTGERN, YOKU, BIG, GALE, UEPS, SINA, DRI, MSPD, BIDU, PBYOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday in a lackluster trading session, with the Dow the leader and the Nasdaq the laggard. In the latest chapter of the unfolding fiscal cliff drama, President Obama’s administration rejected a Republican plan that did not include higher tax rates for wealthy Americans. The next batch of cliff headlines may come from an interview that President Obama has scheduled for this afternoon on Bloomberg Television... ECONOMIC EVENTS: No major economic data was released in the U.S. Internationally, the Reserve Bank of Australia cut its key benchmark interest rate to 3.00% from 3.25%, as expected, and the Bank of Canada maintained its target for its overnight rate at 1%... COMPANY NEWS: Darden Restaurants (DRI), the parent company of Olive Garden, Red Lobster and LongHorn Steakhouse, warned its profit for the current quarter and the year may fall well short of analyst expectations. The company, whose shares tumbled nearly 10% after the outlook announcement, blamed failed promotions and negative press on its tests to limit rising health care costs for its under performance... Among companies reporting quarterly results, Big Lots (BIG) advanced 9.7% while Pep Boys (PBY) declined 13.7%... A number of U.S.-listed Chinese companies traded lower after the SEC charged the Chinese subsidiaries of the four major U.S. accounting firms with refusing to cooperate in investigations of alleged accounting fraud at Chinese companies. Shares of Sina (SINA), Youku Tudou (YOKU) and Baidu (BIDU) were among those declining following the news... MAJOR MOVERS: Among the notable gainers were Galena Biopharma (GALE), up almost 10% after signing a commercialization partnership for its NeuVax drug with Teva (TEVA), and Mindspeed Technologies (MSPD), up 7% after raising its Q1 revenue view. Among the noteworthy losers was Net 1 UEPS (UEPS), which plunged 56% after disclosing the DOJ and FBI are investigating the company for potential violations of the Foreign Corrupt Practices Act. Also lower were shares of Geron (GERN), down 25% after it discontinued development of a treatment for brain cancer, announced job cuts and said its CFO is leaving the company to pursue other opportunities... INDICES: Near noon, the Dow was up 15.36, or 0.12%, to 12,980.96; the Nasdaq was down 11.77, or 0.39%, to 2,990.43; and the S&P 500 was down 1.88, or 0.13%, to 1,407.58.
News For DRI;BIG;PBY;SINA;YOKU;BIDU;UEPS;GERN;MSPD;GALE From The Last 14 Days
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December 8, 2014
15:20 EDTPBYNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include AutoZone(AZO), consensus $7.16; HD Supply (HDS), consensus 53c; Burlington Stores (BURL), consensus 12c; Science Applications International (SAIC), consensus 74c; UTi Worldwide (UTIW), consensus 6c; The Pantry (PTRY), consensus 46c; Pep Boys (PBY), consensus 12c.
09:20 EDTGALEOn The Fly: Pre-market Movers
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08:26 EDTBIGBig Lots sell-off unwarranted at FBR Capital
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08:11 EDTGERNGeron to host analyst and investor meeting
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07:08 EDTGALEGalena GALE-401 Phase 1 results show reduced platelet counts, tolerable safety
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December 5, 2014
16:36 EDTBIGOn The Fly: Closing Wrap
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12:50 EDTBIGOn The Fly: Midday Wrap
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12:10 EDTUEPSNet 1 UEPS says court extends SASSA tender deadline to February 2015
Net 1 UEPS Technologies provided a further update on the SASSA tender process. Following the submission of further affidavits and arguments, the South African Constitutional Court issued directions on December 5 stating: SASSA must; extend the deadline for the submission of bids to February 27, 2015; finalize its proposed amendments to the RFP by December 15, 2014 and file a copy of the draft amended RFP with the Court by December 20; circulate the draft amended RFP to all litigating parties and all the other bidders by December 20; issue a bidder's notice calling upon all bidders to furnish objections or questions to the draft amended RFP to SASSA by January 15, 2015. The court said the litigating parties may, if they so choose, file further short affidavits in the application itself by January 20, 2015 and may, if they so choose, file further written submissions, not longer than 20 pages, on any issue that may remain after the process set out has been completed, by January 27, 2015.
12:03 EDTBIGFive Below plummets after Q4, FY14 outlooks trail analysts' estimates
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11:26 EDTBIGBig Lots tumbles after earnings, levels to watch
The shares are close to the session lows, down 13.6% to $41.37. The low of the day at $40.74 is current support. The share price loss today is beginning to close the bullish gap up in shares from May. This is bearish for future price with next supports below today's low at $40 and then the bottom of the gap at $37.68. Resistance is at $42.50.
10:46 EDTBIGBig Lots tumbles after Q3 results misses estimates
Shares of closeout retailer Big Lots (BIG) are lower this morning after the company's third quarter earnings failed to meet analyst estimates. WHAT'S NEW: Big Lots reported Q3 earnings per share of (6c) and revenue of $1.11B, missing analysts' consensus estimates of (5c) and $1.12B, respectively. Same store sales increased 1.4% for the quarter, the company said. Big Lots said Jennifer, its core customer, is responding positively to the improved merchandising strategies such as the recent expansion of its Food category and the Furniture lease-to-purchase program. Inventory ended the quarter at $1.08B vs. $1.24B for the previous year. Looking ahead, Big Lots raised the high end of its fourth quarter EPS view to $1.70-$1.80 from $1.70-$1.76 against analysts' consensus estimates of $1.78. and backed its Q4 SSS view of a low single digit increase. For fiscal year 2014, Big Lots backed its FY14 EPS view of $2.40-$2.50 against analysts' estimates of $2.49 and SSS guidance of up 1%-2%. WHAT'S NOTABLE: During the conference call to discuss Q3 earnings, Big Lots said it expects to see double digit drops in Electronics in the fourth quarter. Big Lots said it was encouraged by the start of November where comps were up by 2%, but also commented on less than favorable results from Thanksgiving and Black Friday, with one executive noting the lack of traffic at store checkouts during Black Friday. The retailer also said it sees positive opportunity for January in food, furniture and home. PRICE ACTION: During morning trading, Big Lots fell $6.56, or 13.68, to $41.39. OTHERS TO WATCH: Five Below (FIVE), which reported in-line third quarter EPS and a lower-than-expected fourth quarter and fiscal year 2014 outlook, is down 12.3% to $37.56.
10:35 EDTBIGHigh option volume stocks
High option volume stocks: NOAH FRAN BIG GREK KEY VIAB STRZ ALKS QTWW ONNN
09:36 EDTBIDUActive equity options trading
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09:17 EDTBIGOn The Fly: Pre-market Movers
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08:22 EDTBIGBig Lots expects to see double digit drops in electronics in Q4
08:13 EDTBIGBig Lots plans to open 24 new stores and close 57 US stores in 2015
Encouraged by start in November where comps up by 2%. The company, however, said Thanksgiving and Black Friday results down from prior year. Believes January has opportunity in food, furniture and home. Comments taken from Q3 earnings conference call.
06:23 EDTGERNGeron volatility flat into American Society Hematology Annual Meeting
Geron December call option implied volatility is at 106, January is at 115, March is at 104; compared to its 26-week average of 106 according to Track Data, suggesting non-directional price movement into 56th American Society Hematology Annual Meeting abstract presentations.
06:05 EDTBIGBig Lots backs FY14 EPS view of $2.40-$2.50, consensus $2.49
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06:04 EDTBIGBig Lots raises high-end of Q4 EPS view to $1.70-$1.80 from $1.70-$1.76
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06:01 EDTBIGBig Lots reports Q3 EPS (6c), consensus (5c)
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