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Stock Market & Financial Investment News

News Breaks
June 30, 2014
05:24 EDTDWADreamWorks Animation upgraded to Neutral from Underweight at Piper Jaffray
Piper Jaffray upgraded DreamWorks Animation to Neutral saying the worst of earnings revisions are likely over. Piper raised its price target for shares to $22 from $19.
News For DWA From The Last 14 Days
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September 29, 2014
17:50 EDTDWADreamWorks Animation down 9% after report that talks have slowed with Softbank
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17:45 EDTDWASoftbank, DreamWorks discussions may have slowed, WSJ says
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16:22 EDTDWAOn The Fly: Closing Wrap
Stocks on Wall Street opened sharply lower, as the volatility which was seen last week carried over. It was the sixth session in a row, and the eighth in the last ten, in which the Dow experienced a triple digit move. The early weakness was attributed to unrest in Hong Kong as pro-Democratic protesters forced the closing of 17 banks and many small businesses. The market was able to shrug off the early weakness and pared its losses, with the Nasdaq eventually crossing into positive territory for a brief time. The averages all ended the day in the red, but were much improved from the lows they hit right after the opening bell. ECONOMIC EVENTS: In the U.S., consumer spending increased 0.5% last month, which was a bit better than expected. Personal incomes increased 0.3% in August, which matched the consensus forecast of economists. The National Association of Realtors' pending home sales index fell 1.0% to 104.7 in August, which was worse than the expected drop of 0.5%. In Asia, Hong Kong's Hang Seng Index dropped nearly 2% as riot police advanced on protesters in the deepest unrest since China took back control of the colony two decades ago. In Europe's bond market, Italian and Spanish yields rose as Italy's Prime Minister Matteo Renzi faced rumors that he could be pressured to quit and leaders in Spain's Catalonia region called for a referendum to be held on independence. COMPANY NEWS: DreamWorks Animation (DWA) rallied $5.82, or 26.03%, to $28.18 after The Hollywood Reporter said yesterday that the company is in talks to be acquired by Japanese telecom company Softbank (SFTBF), the parent of U.S. wireless carrier Sprint (S). Softbank is negotiating to buy DreamWorks for $32 per share, or $3.4B, the report said, citing an unnamed source, though CNBC's David Faber and entertainment industry publication Variety were cautious about whether a deal will be consummated. Lionsgate (LGF), another movie maker recently linked to Softbank by The New York Post and to Vivendi (VIVHY) by Reuters, also rose $1.79, or 5.74%, to $32.99. MAJOR MOVERS: Among the notable gainers were a number of companies that agreed to be acquired. Ambit Biosciences (AMBI) surged $7.14, or 87.07%, to $15.34 after Daiichi Sankyo agreed to acquire all of its outstanding shares for $15 per share in cash plus one Contingent Value Right based on commercialization related milestones. Einstein Noah (BAGL) advanced $6.76, or 50.49%, to $20.15 after the bagel shop owner agreed to be acquired by JAB Holding Company for $20.25 per share in cash. Athlon Energy (ATHL) rose $11.59, or 24.8%, to $58.32 after striking a deal to be bought by Canadian energy giant Encana (ECA), which also gained 46c, or 2.18%, to $21.59 following the deal announcement. Among the noteworthy losers was Civeo Corporation (CVEO), which dropped $12.63, or 49.59% to $12.84 after the company decided against conversion to a real estate investment trust, or REIT, and said it will continue as C corporation and redomicile to Canada. Also lower were shares of Ford (F), which fell $1.22, or 7.47%, to $15.11 after the automaker said during its investor day presentation that it won't achieve its previously stated 2014 profit goal and now sees pre-tax profit of $6B for the fiscal year. INDEXES: The Dow slipped 41.93, or 0.25%, to 17,071.22, the Nasdaq fell 6.34, or 0.14%, to 4,505.85, and the S&P 500 dropped 5.05, or 0.25%, to 1,977.80.
13:53 EDTDWAVivendi may look at deal for Lionsgate, Reuters says
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12:18 EDTDWAOn The Fly: Midday Wrap
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10:32 EDTDWADreamWorks jumps after report of Softbank takeover talks
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10:30 EDTDWAHigh option volume stocks
09:36 EDTDWADreamWorks potential takeout positive for content space, says Stifel
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09:20 EDTDWAOn The Fly: Pre-market Movers
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09:16 EDTDWA'Not much going on' between DreamWorks, SoftBank, CNBC reports
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09:11 EDTDWADreamWorks, SoftBank talks early, may go nowhere, CNBC reports
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09:10 EDTDWA'Not much going on' between DreamWorks, SoftBank, CNBC reports
06:55 EDTDWAReport: Slim chance Softbank acquires DreamWorks, Variety says
The likelihood of a deal where Softbank (SFTBF) acquires DreamWorks Animation (DWA) is "slim", reports Variety, citing an unnamed Softbank source in Japan's Nihon Keizai Shimbun. The Hollywood Reporter first broke the news Saturday, but the source said, Its true that we are in contact, but the likelihood of [the deal] actually happening is slim. Reference Link
06:51 EDTDWADreamWorks Animation volatility low into Softbank in talks to acquire report
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September 28, 2014
14:39 EDTDWASoftbank in talks to acquire DreamWorks Animation, Hollywood Reporter says
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September 24, 2014
06:36 EDTDWAJAKKS Pacific' Disguise signs multi-year agreement with DreamWorks Animation
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September 19, 2014
07:25 EDTDWASoftbank to spend some of Alibaba windfall in Hollywood, NY Post says
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September 16, 2014
07:27 EDTDWABofA/Merrill to hold a conference
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