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Stock Market & Financial Investment News

News Breaks
May 21, 2012
12:21 EDTRGR, RENN, AEO, ETN, CPB, YHOO, CBE, KKD, FB, DVA, LOWOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, rebounding a bit from last week's dismal performance, which was the worst this year for U.S. equity markets. Near noon the market was off of its best levels and had been drifting in a narrow range since mid-morning. The market move is due more to a bounce from an oversold condition than from any data reported in either Europe or the U.S. There was little on the U.S. economic calendar, with the exception of the Chicago Fed National Activity Index, which went largely unnoticed when reported during the pre-market trading session... ECONOMIC EVENTS: In the U.S., the Chicago Fed National Activity Index rebounded a bit to a reading of +0.11 for the month of April, up from -0.29 a month ago. In Europe, stocks gained in spite of little in the way of concrete plans for the region coming out of the weekend's meeting of the G-8 leaders... COMPANY NEWS: Facebook (FB) shares fell below their $38 issue price in premarket trading and continued to slide as much as 13.7% before stabilizing near $33. Near noon, shares were down $4.49, or 11.59%, to $33.74... Yahoo! (YHOO) reached a deal for a plan to sell out of its 40% stake in Alibaba, including an initial sale of 20% of Alibaba back to the company for $7.1B. Yahoo! said it intends to return substantially all of the after-tax cash proceeds to shareholders from the deal and did not finalize the form of the return of capital but did increase its share buyback authorization by $5B. However, Yahoo shares only moved up about 0.3% on the news... Shares of Lowes (LOW) slid almost 10% in spite of sales and profits that beat estimates, as the company's yearly earnings guidance came in below consensus. Among other companies reporting earnings, Krispy Kreme (KKD) advanced while Campbell Soup (CPB) declined... DaVita (DVA) agreed to purchase HealthCare Partners for $4.42B, which investors applauded by driving shares up more than 4%... MAJOR MOVERS: Among the notable gainers were Cooper Industries (CBE), up nearly 27%, after agreeing to be acquired by Eaton Corporation (ETN) in a cash and stock deal valued at $72.00 per share, representing a premium of 29% to Cooper's closing price on Friday, and American Eagle (AEO), up more than 10%, following an upgrade to Buy at Brean Murray ahead of Wednesday's earnings report and after the company announced it plans to eliminate children's brand 77kids and its CFO stepped down. Noteworthy losers included Renren (RENN), down almost 3%, as it was dragged down in concert with the steep decline seen in Facebook, and Sturm, Ruger (RGR), down about 6%, after being initiated with a Sell rating at Off Wall Street Research... INDICES: Near noon, the Dow was up 96.57, or 0.78%, to 12,465.95; the Nasdaq was up 44.42, or 1.60%, to 2,823.21; and the S&P 500 was up 14.44, or 1.11%, to 1,309.66.
News For FB;YHOO;LOW;KKD;CPB;DVA;CBE;ETN;AEO;RENN;RGR From The Last 14 Days
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April 16, 2015
06:13 EDTLOWLowe's upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Lowe's to Overweight with an $88 price target citing a favorable sales environment.
05:58 EDTFBIndian media groups back out of Facebook's Internet.org, Financial Times reports
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April 15, 2015
19:38 EDTYHOOYahoo to reveal new messaging app later this quarter, The Information says
Yahoo plans to unveil a messaging app later this quarter that features both live and pre-recorded video and text, reports The Information, citing two sources familiar with the product. The app will be Yahoo's first home-grown product under CEO Marissa Mayer, notes the report. Reference Link
11:25 EDTYHOOYahoo not in talks to buy Foursquare, Re/code reports
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10:54 EDTYHOORumor of Yahoo talks to buy FourSquare have 'no truth,' CNBC's Faber says
David Faber of CNBC said his contacts tell him that the rumor of Yahoo working on a deal to buy Foursquare has "no truth" to it. Faber noted an earlier report from TechCrunch that said Yahoo was said to be in talks to acquire Foursquare.
10:01 EDTDVADaVita sees taking $250M reserve for Vanier litigation
In a regulatory filing yesterday related to a bond offering, DaVita noted it has received subpoenas or other requests for documents from the federal government in connection with the Vainer private civil suit, the Swoben private civil suit, the 2011 U.S. Attorney Medicaid investigation, the 2015 U.S. Attorney Transportation Investigation and the JSA investigation. In each of the Vainer and Swoben private civil suits, a relator filed a complaint against the company in federal court under the qui tam provisions of the False Claims Act and pursued the claims independently after the government declined to intervene. With regard to the Vanier private civil suit, the parties are engaged in active litigation. The parties in that suit completed discovery in early 2014; however, in August 2014, the court granted relators’ motion for sanctions and reopened discovery on a limited basis. The court in Vainer is considering the plaintiffs’ request for further sanctions, which could result in a range of outcomes from no other sanctions to plaintiffs’ request to strike our answer. Certain of these sanctions could materially adversely impact the company's ability to defend the case, DaVita said. "While we cannot predict the ultimate outcome of this case, if the case is resolved in favor of the plaintiffs, its resolution could have a material adverse effect on our earnings and cash flows. We recently commenced settlement discussions with the plaintiffs in Vainer." The company said it expects to accrue an estimated loss contingency reserve of $250M related to this matter. "Negotiations are ongoing and we can make no assurances as to whether the Vainer suit will settle and, if it does settle, whether it will settle for an amount higher than the current reserve," DaVita added. With regard to the Swoben private civil suit, in July 2013, the court granted HCP’s motion and dismissed with prejudice all of the claims in the Third Amended Complaint, and in October 2013 the plaintiff filed an appeal of the dismissal, which is currently pending.
10:00 EDTAEOOn The Fly: Analyst Initiation Summary
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09:34 EDTYHOOYahoo in talks to buy local search app maker Foursquare, TechCrunch says
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09:29 EDTYHOOYahoo in talks to acquire Foursquare, TechCrunch reports
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06:56 EDTAEOAmerican Eagle initiated with a Buy at Guggenheim
Target $20.
06:18 EDTFBApple, Google, others doubling down on European operations, WSJ reports
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April 14, 2015
12:13 EDTDVADaVita announces $725.94M repurchase program
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11:16 EDTFBCredit Suisse's top Internet picks
Credit Suisse's top large-cap Internet picks remain Amazon.com (AMZN) for operating margin expansion and normalizing International growth, Facebook (FB) for underestimated long-term monitization potential from growing new products, and Google (GOOGL) for a slowdown in capex and narrowing of the mobile-desktop monetization gap. The firm's top small-cap picks are LinkedIn (LNKD) for the ramp of Sales Navigator and acceleration of Marketing Solutions and Yelp (YELP) because of reduced churn and increasing mobile traffic growth and ARPU.
10:58 EDTFBStocks with call strike movement; FB BABA
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09:00 EDTFBFacebook price target raised to $80 from $72 at BMO Capital
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07:28 EDTFBFacebook remains a top 2015 pick at JPMorgan
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April 13, 2015
16:01 EDTFBOptions Update; April 13, 2015
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11:25 EDTYHOOStarboard CEO says Yahoo parts worth more than whole
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April 12, 2015
19:01 EDTYHOONokia maps unit HERE may be of interest to several tech firms, Re/code says
If Nokia is putting its mapping unit HERE up for sale it may draw interest from firms like Microsoft (MSFT), Yahoo (YHOO), Amazon (AMZN) and Apple (AAPL), says Re/code. Reference Link
17:01 EDTYHOOYahoo demotes head of Tumblr, WSJ says
David Karp has been demoted as head of Yahoo's Tumblr division while Adam Cahan, the company's SVP of Mobile, will lead a new group concentrating on video, reports the Wall Street Journal's Digits blog, citing a company-wide memo sent by CEO Marissa Mayer. Simon Khalaf has been promoted to SVP overseeing the Yahoo homepage and Tumblr, and will work on making Tumblr "work more closely together" with other Yahoo properties, said a person briefed on the reshuffling plans. Reference Link
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