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Stock Market & Financial Investment News

News Breaks
October 4, 2012
11:22 EDTENB, EBAY, DTEGY, THO, R, PLD, SBAC, EIXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Deutsche Telekom (DTEGY) upgraded to Buy from Hold at Deutsche Bank... Edison International (EIX) upgraded to Overweight from Equal Weight at Morgan Stanley... Ryder (R) upgraded to Buy from Neutral at SunTrust... SBA Communications (SBAC) upgraded to Buy from Neutral at Citigroup... eBay (EBAY) upgraded to Buy from Neutral at Nomura... Thor Industries (THO) upgraded to Outperform from Neutral at Wedbush... Enbridge (ENB) upgraded to Outperform from Market Perform at BMO Capital... ProLogis (PLD) upgraded to Buy from Hold at Stifel Nicolaus.
News For DTEGY;EIX;R;EBAY;SBAC;THO;ENB;PLD From The Last 14 Days
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March 31, 2015
19:25 EDTENBEnbridge makes formal proposal to transfer Canadian liquids pipeline business
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18:25 EDTEBAYGroupon testing Groupon Stores concept
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March 30, 2015
05:40 EDTEBAYStubHub files antitrust lawsuit against TIcketmaster, Golden State Warriors
StubHub, an eBay (EBAY) company, has filed a lawsuit against Ticketmaster (LYV) and the Golden State Warriors’ front office. As stated in the Complaint, StubHub seeks to stop unfair and illegal anti-competitive business practices that prevent fans from deciding how they want to resell their tickets and which artificially drive up ticket prices. The complaint recounts that Ticketmaster and the Warriors’ front office broke our nation’s antitrust law and California law against unfair competition by cancelling fans’ regular-season and playoff-game tickets when those fans chose to use StubHub and other competitive exchanges to resell tickets. In many more cases, the Complaint says, Ticketmaster and the Warriors’ front office broke the law by unlawfully threatening fans with cancellation to force them to use Ticketmaster’s resale exchange exclusively. StubHub strives to compete fairly, ensuring that fans only pay market-driven prices based on actual supply and demand. We believe fans, not front-office executives, have the right to decide how – and for how much – resale tickets will be bought and sold. According to the lawsuit, despite repeated requests by StubHub, the Warriors and Ticketmaster executives allegedly refused to play fair, to respect the fans, and to obey the law. StubHub’s only option therefore remains to seek relief in federal court to stop these anticompetitive business practices. StubHub simply wants Ticketmaster and the Warriors' front office to embrace competitive efforts rather than monopoly tactics.
March 26, 2015
12:04 EDTTHOWinnebago sinks after Q2 results trail estimates
Shares of recreational vehicle manufacturer Winnebago Industries (WGO) are sinking after the company’s second quarter results trailed analysts’ consensus estimates. WHAT'S NEW: This morning, Winnebago reported Q2 earnings per share of 30c on revenue of $234.5M, trailing analysts' consensus estimates of 38c and $253.26M, respectively. Compared to the same period last year, the company said motorhome revenue increased 2.4% in the second quarter, which was mainly a result of motorhome unit shipment growth of 2.4%. Towables operating income improved $302,000 due primarily to revenue growth of 11.8%, comprised of a 7.7% increase in ASP and 5.2% growth in unit shipments. Gross profit as a percentage of sales improved 30 basis points in Q2 year over year. WHAT'S NOTABLE: In explaining the weak results, the company noted that operating expenses increased in Q2 compared to last year. This was mainly due to $1.5M of incremental general and administrative expenses associated with two strategic initiatives that commenced during the quarter related to ERP implementation and strategic sourcing, as well as increased legal and equipment maintenance costs. Sarah Nielsen, the company's Chief Financial Officer, noted that operating cash flow for Q2 was affected by an increase in receivables of approximately $13M due to timing of invoicing in the quarter. She said the company ended the quarter with elevated inventory levels, in part due to the rental build season. In the second half of the year, the company expects to generate positive cash flow through the continued strength of its operating results, as well as favorable changes in working capital. PRICE ACTION: In early afternoon trading, Winnebago fell $3.42, or about 14.4%, to $20.37 on more than five times its average daily trading volume. Including today's pull back, the shares have lost approximately 23% over the past 12 months. OTHERS TO WATCH: Others in the recreational vehicle space include Thor Industries (THO), down 1.5%, Drew Industries (DW), down 0.9%, and Patrick Industries (PATK), up 0.15%.
06:05 EDTEBAYPayPal agrees to $7.7M settlement over sanction violations, AP says
eBay's PayPal has agreed to a $7.7M settlement with U.S. regulators who alleged the company allowed violations of sanctions against Iran, Cuba, and Sudan, reports the Associated Press, citing statements by the Office of Foreign Assets Control. The agency claimed PayPal failed to properly screen certain payments that occurred from October 2009 to April 2013. Reference Link
March 25, 2015
15:24 EDTEBAYU.S. Treasury says PayPal to pay $7.7M on sanctions violations, Dow Jones says
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March 23, 2015
12:18 EDTTHOThor Industries management to meet with Sidoti
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09:16 EDTEBAYeBay says making 'solid' progress on separation of PayPal
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09:16 EDTEBAYeBay adds two independent directors in preparation for PayPal separation
eBay (EBAY) announced the appointment of two new independent directors in anticipation of completing its previously announced separation of eBay and PayPal. Tony Bates, President of GoPro (GPRO), and Gail McGovern, President and CEO of the American Red Cross, have been appointed to eBay Inc.’s board of directors. eBay also announced that current directors William C. Ford and Richard T. Schlosberg, who have served for 10 years and 11 years, respectively, have advised the company that they do not plan to stand for re-election to the board at the 2015 Annual Meeting. With the appointment of Bates and McGovern, eBay's board currently is comprised of 17 directors, 15 of whom are independent. Following the company’s Annual Meeting, which will be held on May 1, eBay’s board will be comprised of 15 directors, 13 of whom will be independent. Additionally, eBay announced that Jonathan Christodoro has been elected to its board as part of the previously announced standstill agreement with Carl Icahn, the company’s largest active shareholder.
08:01 EDTRRyder price target raised to $130 from $117 at FBR Capital
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07:27 EDTDTEGYCityFibre claims BT takeover of EE is anticompetitive, The Telegraph says
CityFibre has filed a claim with British antitrust authorities alleging BT’s (BT) GBP12.5B takeover of EE is anticompetitive, reports The Telegraph, citing statements by CityFibre CEO Greg Mesch. BT has claimed that it will immediately cut costs if the takeover proposal succeeds, and CityFibre believes its earlier contract with EE to expand its fibre-optic network will be "effectively neutered." EE is a joint venture by Orange (ORAN) and Deutsche Telekom (DTEGY). Reference Link
March 19, 2015
11:18 EDTEBAYeBay cut to sell by noted analyst on mounting PayPal competition
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10:02 EDTEBAYOn The Fly: Analyst Downgrade Summary
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05:42 EDTEBAYeBay downgraded to Underweight from Neutral at Piper Jaffray
Piper Jaffray analyst Gene Munster downgraded eBay (EBAY) to Underweight, the firm's sell-equivalent rating, saying competition from Google Wallet (GOOG), Apple Pay (AAPL), Facebook (FB) and Samsung will weigh on PayPal's valuation and market share over the next three years. Munster notes shares of eBay are up 12% since the beginning of February due to optimism around the PayPal spin-out. He cut his price target for shares to $49 from $55. The online marketplace and PayPal owner closed yesterday down $1.07 to $58.42.
March 18, 2015
11:24 EDTEBAYeBay falls after Facebook adds friend-to friend payment option
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05:35 EDTDTEGYDeutsche Telekom and Cisco launch intercloud services on OpenStack
Deutsche Telekom (DTEGY) and Cisco (CSCO) are announcing a newly developed Intercloud-based services for small- and medium-sized businesses and enterprise customers. The two companies announced their Intercloud collaboration in September 2014. Deutsche Telekom and Cisco are currently setting up the necessary infrastructure for a redundant Intercloud node in Deutsche Telekom's high-performance data centers in Magdeburg and Biere near Berlin, Germany. Deutsche Telekom will deliver sovereign and highly secure services that meet Germany's strict data protection standards to business customers throughout the European region.

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