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Stock Market & Financial Investment News

News Breaks
August 21, 2014
17:00 EDTHRL, EBAY, SHLDOn The Fly: Closing Wrap
Stocks began the session in lackluster fashion as the averages opened just above yesterday’s close. There was little early reaction to the morning’s economic reports including the jobless claims data, Philadelphia Fed report, leading economic indicators, and natural gas storage change report. But by mid-day, the Dow had asserted itself as the day’s leader while the Nasdaq struggled to stain positive territory. As the afternoon progressed the Dow continued its advance, the Nasdaq hit 14-year highs, and the S&P also touched a new all-time high. ECONOMIC EVENTS: Jobless Claims data continues to trend lower, with the week of August 16 coming in at 298K vs. a consensus of 300K... The PMI Manufacturing Index Flash was strong at 58.0 for August, up 1.7 points from the July flash of 56.3. COMPANY NEWS: eBay (EBAY) rose almost 5% after a report said that a PayPal spin-off was under consideration... Hormel (HRL) gained almost 5% and hit a 52-week high after reporting better than expected earnings before the market opened... Sears Holding (SHLD) fell over 7% after reporting Q2 earnings this morning that missed on the top and bottom lines. INDEXES: The Dow closed up 60.36, or 0.36%, to 17,039.49, the Nasdaq closed up 5.62, or 0.12%, to 4,532.10, and the S&P 500 closed up 5.86, or 0.29%%, to 1,992.37.
News For EBAY;HRL;SHLD From The Last 14 Days
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September 3, 2015
10:53 EDTEBAYBattleground: Analysts clash on PayPal outlook after Ebay spinoff
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10:03 EDTEBAYOn The Fly: Analyst Upgrade Summary
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09:54 EDTEBAYeBay moves higher, levels to watch
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07:16 EDTEBAYeBay upgraded to Neutral from Underweight at Piper Jaffray
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September 1, 2015
17:41 EDTSHLDKmart pays $1.4M to settle claims of illegal Medicare inducements
The Department of Justice announced that Kmart, a subsidiary of Sears Holdings, has paid the United States $1.4M to resolve allegations that it violated the false claims act by using drug manufacturer coupons and gasoline discounts as improper Medicare beneficiary inducements. "The United States will continue to pursue retail pharmacies that improperly attempt to influence a beneficiary's choice of pharmacy," said the Justice Department's Civil Division chief Benjamin Mizer. The government alleged that from June 2011 to June 2014, Kmart knowingly and improperly influenced the decisions of Medicare beneficiaries to bring their prescriptions to Kmart pharmacies by permitting them to use drug manufacturer coupons to reduce prescription co-pays that they otherwise would be obligated to pay. The government also alleged that Kmart's conduct caused the Medicare beneficiaries to seek expensive, brand name drugs in lieu of cheaper generic drugs. The government additionally claimed that Kmart improperly encouraged Medicare beneficiaries to bring their prescriptions to Kmart pharmacies by offering them varying levels of discounts on the purchase of gasoline based on the number of prescriptions filled at Kmart pharmacies. "The claims settled by today's agreement are allegations only and there has been no determination of liability," cautioned the Department. Reference Link
10:56 EDTEBAYRBC Capital to hold a bus tour
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06:44 EDTEBAYStubHub reverses course on 'all-in' pricing, WSJ reports
StubHub, a unit of eBay, is returning to its old system of adding 15%-17% to its ticket fees, shifting from its "all-in" pricing platform, the Wall Street Journal reports. StubHub's market share has declined heavily due to negative reaction to the pricing change as well as a new crop of competitors, the report says. Reference Link
August 31, 2015
09:09 EDTSHLDMP Associates to hold a conference
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August 30, 2015
14:34 EDTEBAYPayPal shares could gain 40% as e-commerce grows, Barron's says
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August 25, 2015
06:18 EDTSHLDSears names Lynn Pendergrass as Hardlines president
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August 24, 2015
08:11 EDTEBAYeBay Motors partners with Assurant to extend warranties on purchase
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August 20, 2015
12:43 EDTHRLHormel Foods rallies after Deutsche Bank upgrade
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10:00 EDTHRLOn The Fly: Analyst Upgrade Summary
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06:12 EDTHRLHormel Foods upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Mario Contreras upgraded Hormel Foods to Buy following the company's Q3 results and raised his price target for shares to $66 from $59. Contreras is positive on the Muscle Milk cost savings and views the valuation as attractive at current levels.
06:08 EDTSHLDSears reports Q2 adjusted EPS ($2.40), one estimate ($2.50)
Reports Q2 revenue $6.2B, one estimate $5.72B. Reports Q2 SSS down 10.8%, comprised of decreases of 7.3% and 14.0% at Kmart and Sears Domestic, respectively, which accounted for $584M of the revenue decline.

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