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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 10, 2014
07:02 EDTFBFacebook upgraded to Buy from Hold at Pivotal Research
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06:48 EDTYHOOYahoo's strategy similar to past efforts, Re/code says
Yahoo, which is reportedly looking to become a major player in Internet video, was working on similar initiatives in mid-2012, according to Re/code. Reference Link
06:33 EDTFBTwitter upgraded to Hold from Sell at Cantor
Cantor Fitzgerald upgraded its rating on Twitter (TWTR) shares to Hold from Sell citing the recent pullback in the stock as well as the upcoming launch of new ad formats which it believes should drive monetization. Cantor maintains a $45 price target for the stock and says it continues to prefer Facebook (FB). Shares of Twitter closed yesterday up 71c to $42.49.
06:26 EDTYHOOYelp deal with Yahoo receives criticism from small business owners, WSJ reports
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06:04 EDTYHOOYahoo hires Bobbi Brown to be editor-in-chief of beauty site, Re/code reports
Yahoo (YHOO) has hired Bobbi Brown, the creator of Bobbi Brown Cosmetics (EL), to be the editor-in-chief of its beauty site, Re/code reports, noting that several of Yahoo's big advertisers -- L'Oreal (LRLCY), Procter & Gamble (PG) and Unilever (UN, UL) -- are competitive with Bobbi Brown Cosmetics. Reference Link
April 9, 2014
17:48 EDTFBFacebook removing messaging from main app, TechCrunch says
Facebook is notifying mobile users that it is removing messaging capability in its main Facebook app, instead requiring users to download Facebook Messenger to chat on mobile, reports TechCrunch. Reference Link
16:23 EDTFBOn The Fly: Closing Wrap
Stocks on Wall Street were higher after the minutes of the latest FOMC meeting struck a particularly dovish note. The averages, which were higher for the second straight session ahead of the minutes release, climbed to their highs over the final two hours of trade. Each index posted gains of over 1%, with the tech-heavy Nasdaq again the biggest winner. ECONOMIC EVENTS: The minutes for the March 18-19 FOMC showed that some committee members were concerned that its future interest rate projections could be misconstrued by the market as advocating tighter monetary policies. The minutes also showed that committee members expect to continue tapering the Fed's asset purchases if the economy performs as expected going forward. Wholesale inventories rose 0.5% in February, matching economists' forecast. COMPANY NEWS: Several auto majors were in the news, notably General Motors (GM), which fell 91c, or 2.64%, to $33.62 as the National Highway Traffic Safety Administration yesterday announced that it fined the automaker for failing to respond to the administration's inquiry into its recall related to faulty ignition switches in a timely manner. Analysts at Morgan Stanley also downgraded the stock to Underweight from Equal Weight. U.S.-listed shares of Toyota Motor (TM) fell $1.37, or 1.26%, to $107.73 after the company announced the recall of over 6M vehicles worldwide. A report from Automotive News said that Volkswagen (VLKAY) issued a stop-sale order on some of it newer-model cars, but U.S.-listed shares of the German automaker, which were upgraded earlier in the session by Bernstein to Outperform, were unfazed and gained $2.91, or 5.72%, to $53.78... Two notable initial public offerings took place today, with hotel chain operator La Quinta (LQ) gaining 12c, or 0.71%, to $17.12 and Chinese medical exam and screening center operator iKang Healthcare (KANG) gaining $1.20, or 8.57%, to $15.20, in their first day of trade. MAJOR MOVERS: Among the notable gainers was marketing software and solutions provider Constant Contact (CTCT), up $6.30, or 28.74%, to $28.22 after the company's preliminary first quarter revenue exceeded analysts' projection. Also higher was social media giant Facebook (FB), up $4.22, or 7.25%, to $62.41 after analysts at Susquehanna and SunTrust published positive commentary on the company. Among the noteworthy losers was Intuitive Surgical (ISRG), down $33.20, or 6.78%, to $456.64 after last night saying it expects first quarter revenue to come in well below expectations, though the stock was defended by no fewer than three analyst firms following the announcement. Also lower were a number of coal producers, including Alpha Natural Resources (ANR) and Walter Energy (WLT), which each lost more than 6%, and Arch Coal (ACI), which fell over 3%, after all three stocks were downgraded to Sell at UBS. INDEXES: The Dow was up 181.04, or 1.11%, to 16,437.18, the Nasdaq was up 70.91, or 1.72%, to 4,183.90, and the S&P 500 was up 20.22, or 1.09%, to 1,872.18.
16:00 EDTFBOptions Update; April 9, 2014
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14:42 EDTFBFacebook breaks out above resistance, levels to watch
The shares are taking another leg higher in late afternoon trading, last at $61.66. At that price next resistance is at $62.72. Support is at prior resistance from earlier today at $60.78.
14:37 EDTYHOOYahoo likely to report 'tepid' quarter, BGC says
BGC's Colin Gillis said he expects Yahoo to report another "tepid quarter" when it reports earnings next week, with the firm expecting revenue to be flat year-over-year with underlying metrics that are discouraging. Gillis added that the near-term valuation for Yahoo's stake in Alibaba, which has aided investor enthusiasm for Yahoo, has likely peaked, and the firm maintains a Hold rating and $34 price target on shares.
13:02 EDTFBFacebook COO Sandberg says not running for office, Business Insider reports
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10:48 EDTFBFacebook climbs after upbeat notes from two analysts
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10:39 EDTFBFacebook breaks out above recent downtrend, levels to watch
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09:36 EDTFBActive equity options trading on open
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08:59 EDTFBFacebook shares should be bought into Q1 results, says SunTrust
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08:58 EDTFBFacebook ad-driven beat story should continue, says Susquehanna
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07:37 EDTFBFacebook partner says ad prices up 10% in Q1, Adweek says
Despite the recent outcry over diminished “organic reach,” Facebook ad prices have increased from Q4 to Q1, with the SVP of marketing at Facebook partner Nanigans saying pricing was "up 10% across the board” from quarter to quarter, reported Adweek. Reference Link
07:15 EDTFBJPMorgan sees opportunities in Internet stocks after pullback
JPMorgan believes the recent sell-off in Internet stocks has created opportunities in companies it feels has strong fundamentals, namely Facebook (FB), Priceline (PCLN), Netflix (NFLX) and Pandora (P).
06:54 EDTFBIndia Facebook's second top market with over 100M users, FT says
Facebook confirmed that more than 100M people in India now access its services each month, which is up from just 8M in the middle of 2010 and makes the nation the second top market for the social network, trailing only the U.S., reported Financial Times. Reference Link
06:03 EDTFBFacebook making slight changes to privacy settings, Re/code reports
Re/code reports that Facebook is slightly tweaking its privacy settings in a move to minimize "accidental sharing incidents." The company is also testing privacy surveys to see which features users are not comfortable with. Reference Link
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