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Stock Market & Financial Investment News

News Breaks
February 3, 2014
12:16 EDTF, FIATY, SNN, ARTC, MW, LVLT, AAPL, AKAM, RSH, JOSB, GM, BEATOn The Fly: Midday Wrap
Stocks on Wall Street were sharply lower at midday in the first trading day of February, which is opening with a downbeat session reminiscent of many seen last month. Reports showed that manufacturing activity slumped in January in both the U.S. and in China. Adding to the negative sentiment were reports from auto makers showing that sales dropped for most of them amid January's frigid weather. ECONOMIC EVENTS: In the U.S., ISM's manufacturing Purchasing Managers' Index, or PMI, for January plunged to 51.3. The decline was significantly worse than forecast by economists. A separate manufacturing PMI for January from Markit was unchanged from the preliminary 53.7 reading, though that was down 1.3 points from December's 55.0 figure. Construction spending inched up 0.1% in December, versus expectations for it to have remained flat. In China, data released over the weekend showed factory growth slumped to a six-month low in January, with the nation's official manufacturing PMI falling to 50.5 in January from 51 last month. China's official non-manufacturing PMI fell to 53.4 in January from 54.6 in December. The lone bright spot among the global manufacturing data releases came from Europe, where Markit's eurozone manufacturing sector PMI rose to a 32-month high of 54 points in January from 52.7 in December. COMPANY NEWS: Ford (F) shares fell 3% after the company's U.S. sales declined 7% from a year ago to 154,644 vehicles in January. General Motors (GM) reported an even worse decline of nearly 12% in the month to 171,486 vehicles sold and its shares also slid 2%. Fiat-owned (FIATY) Chrysler was the only one of the "Big Three" to report a sales increase in the month, stating "the bad weather only seemed to affect our competitors' stores as we had a great January with sales up 8%." U.S. industry vehicle sales, which previously came in at a 15.6M unit pace in December and were expected to rise to a 15.7M unit rate, were estimated by GM to actually have declined to a 15.3M unit pace in the month. MAJOR MOVERS: Shares of RadioShack (RSH) appeared to benefit from a positive reaction to the company's Super Bowl advertising, with the stock rising more than 9% near noon following last night's game. Another notable gainers was ArthroCare (ARTC), which rose 7% after the U.K.'s Smith & Nephew (SNN) agreed to buy the U.S. medical device maker in a $1.37B deal. Also higher was BioTelemetry (BEAT), which surged 22% after the company announced it achieved a victory in its patent infringement case against Mednet, which it subsequently agreed to acquire in an accretive transaction. Among the noteworthy losers was JoS. A. Bank (JOSB), which fell over 3% after The Wall Street Journal reported the company is in talks to buy sportswear retailer Eddie Bauer, which could complicate the ongoing takeover battle Jos. A. Bank has been having with Men's Wearhouse (MW). Also, Jos. A. Bank made public a letter it sent to Men's Wearhouse, saying the most recent buyout offer its peer made is inadequate. Also lower were shares of Akamai (AKAM), which fell 4% after a blog report claimed Apple (AAPL) has recently hired a number of employees as part of a new group assigned to build out a new content delivery network, or CDN. Apple has historically relied on CDN providers Akamai and Level 3 (LVLT), the Streaming Media report noted. INDEXES: Near midday, the Dow was down 232.90, or 1.48%, to 15,465.95, the Nasdaq was down 74.29, or 1.81%, to 4,029.59, and the S&P 500 was down 28.08, or 1.58%, to 1,754.51.
News For F;GM;JOSB;RSH;AKAM;AAPL;LVLT;MW;ARTC;SNN;FIATY;BEAT From The Last 14 Days
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September 5, 2014
16:01 EDTAAPLOptions Update; September 5, 2014
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13:13 EDTGMU.S. judge dismisses General Motors shareholder lawsuit over IPO, Reuters says
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12:42 EDTGMStocks with increasing options volume
Stocks with increasing options volume: VALE MCP KORS WAG GM PCLN
12:39 EDTGMGM recalls 2002-2004 Saturn Vues due to ignition defect
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12:03 EDTAAPLAvago climbs after Citi predicts surge in iPhone components
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11:32 EDTAAPLApple, Google, Adobe appeal court's rejection of hiring settlement, Reuters says
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10:58 EDTFFord China venture recalls 191K cars over fuel leak chance, Reuters says
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10:39 EDTAKAM, LVLTAkamai seen as 'Google of Internet infrastructure' by UBS
Shares of Akamai (AKAM) are advancing after UBS began coverage of the stock with a positive view, calling the company "the Google of Internet Infrastructure." Akamai provides infrastructure for delivering content over the Internet. WHAT'S NEW: UBS analyst Steven Milunovich initiated coverage of Akamai with a Buy rating in a note to investors today. Like Google (GOOG), Akamai relies on sophisticated algorithms, the analyst stated. Increased demand for Internet media delivery could cause the Internet content delivery sector to perform better than expected, Milunovich believes. Akamai's strong reliability is difficult to match, which should enable it to fend off competition in the space, according to the analyst. Moreover, Milunovich is upbeat on the company's new security and cloud initiatives. He set a $70 price target on the shares. OTHERS TO WATCH: Other companies in the Internet content delivery space include Limelight Networks (LLNW) and Level 3 (LVLT). PRICE ACTION: In mid-morning trading, Akamai rose nearly 1% to $60.91.
10:05 EDTAKAMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Actavis (ACT) initiated with a Buy at ISI Group... Akamai (AKAM) initiated with a Buy at UBS... Alexion (ALXN) initiated with a Buy at SunTrust... Allegion (ALLE) initiated with a Buy at Buckingham... Allergan (AGN) initiated with a Buy at ISI Group... Aviat Networks (AVNW) initiated with a Neutral at H.C. Wainwright... Celgene (CELG) initiated with a Buy at SunTrust... EZCORP (EZPW) initiated with a Hold at Jefferies... Eaton (ETN) initiated with a Neutral at Buckingham... Emerson (EMR) initiated with a Neutral at Buckingham... HMS Holdings (HMSY) initiated with an Overweight at Stephens... Incyte (INCY) initiated with a Buy at SunTrust... Ingersoll-Rand (IR) initiated with a Neutral at Buckingham... Insmed (INSM) initiated with an Outperform at Cowen... Intercept (ICPT) initiated with an Outperform at Cowen... Johnson & Johnson (JNJ) initiated with an Outperform at BMO Capital... Lennox (LII) initiated with a Neutral at Buckingham... Mylan (MYL) initiated with a Hold at ISI Group... Orion Engineered Carbons (OEC) initiated with a Buy at Goldman... Parker-Hannifin (PH) initiated with a Buy at Buckingham... Pentair (PNR) initiated with a Neutral at Buckingham... Pharmacyclics (PCYC) initiated with a Neutral at SunTrust... Rockwell Automation (ROK) initiated with a Neutral at Buckingham... Sabre (SABR) initiated with an Outperform at Oppenheimer... Santander Consumer (SC) initiated with a Buy at Jefferies... Springleaf (LEAF) initiated with a Buy at Jefferies... Susser Petroleum (SUSP) initiated with a Neutral at Credit Suisse... Teva (TEVA) initiated with a Buy at ISI Group... Valeant (VRX) initiated with a Buy at ISI Group... WESCO (WCC) initiated with a Neutral at Buckingham... Watsco (WSO) initiated with a Neutral at Buckingham... Weyerhaeuser (WY) initiated with a Neutral at JPMorgan... World Acceptance (WRLD) initiated with a Hold at Jefferies.
09:40 EDTFFord China reports August sales up 9% to 77,506
Ford China sales are up 30% in the year to date, with 717,537 vehicles sold compared with 551,738 in the first eight months of 2013. In August this year alone, Ford sold 77,506 vehicles in China, up 9% from 71,183 sold in August last year. Changan Ford, Ford’s passenger car joint venture, sold 522,394 vehicles in the first eight months of 2014, up 33% from 394,017 sold during the same period last year. August sales for CAF reached 60,306 vehicles, up 13% from August 2013. Jiangling Motors Corporation, Ford's commercial vehicle investment in China, sold 171,169 vehicles in the year to date, up 19% from 143,322 vehicles sold during the same period last year. JMC’s monthly sales were steady, with 16,200 vehicles sold in August compared with 16,549 vehicles in August 2013.
09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GILD TSLA YHOO WFM SLW ABX GOOG FB BIDU
08:22 EDTAAPLNVIDIA lawsuits likely to have positive outcome, says JMP Securities
After NVIDIA (NVDA) filed lawsuits against Qualcomm (QCOM) and Samsung, JMP Securities thinks there is a good chance that NVIDIA will obtain a favorable ruling or settlement that is equal or greater to the $1.5B deal it cut with Intel (INTC),. The firm thinks that other companies, most notably Apple (AAPL), will launch talks with NVIDIA in the wake of the lawsuit. JMP Securities recommends buying NVIDIA ahead of upcoming Apple product refreshes and what it sees as accelerating growth trends for NVIDIA. The firm is upbeat about NVIDIA's new products and reiterates an Outperform rating.
07:30 EDTAAPLApple iWallet would be positive for payment networks, says JPMorgan
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07:26 EDTAAPLApple strikes transaction fee discount deals, Bank Innovation says
Apple (AAPL) has reached deals with American Express (AXP), JPMorgan (JPM), Citigroup (C), Capital One (COF), and Bank of America (BAC) to lower card transaction fees for its soon to be launched payments venture, said Bank Innovations, citing an earlier report from Tom Noyes and confirmation by its own sources. Apple has both convinced them to consider its transactions as “card present,” which carries a lower discount rate, and has also managed to bump down the actual “card present” rate by 15 to 25 basis points, according to people with knowledge of the matter, the report noted. Reference Link
07:05 EDTAAPLApple shares could work going forward, says RBC Capital
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06:29 EDTAAPL$30 to be competitive price for sapphire covers in 2015, DigiTimes Research says
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06:20 EDTAAPLApple plans to warn users of attempts to hack iCloud, WSJ reports
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06:15 EDTAAPLAvago price target raised to $100 from $90 at Citigroup
Citigroup raised its price target for Avago (AVGO) shares to $100 citing increased confidence in the company's wireless content gains after meeting with management. Citi believes Avago will likely double its dollar content in Apple's (AAPL) iPhone 6 when compared to the iPhone 5S. The firm reiterates a Buy rating on Avago, calling the stock its top specialty semi pick. The stock closed yesterday up 70c to $86.09.
06:12 EDTGMMichigan among the states investigating GM recall, Detroit News reports
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05:49 EDTAKAMAkamai initiated with a Buy at UBS
UBS started shares of Akamai with a Buy rating, calling the company the "Google of internet infrastructure." The firm thinks Akamai will fend off CDN business competition through its network relationships and global platform. UBS set a $70 price target for the stock.
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