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Stock Market & Financial Investment News

News Breaks
March 19, 2014
12:38 EDTHZNP, ORCL, OWW, FDX, RENN, FSLROn The Fly: Midday Wrap
Stocks on Wall Street were virtually unchanged at midday as investors await the latest rate decision and associated policy updates from the Federal Reserve. The market spent the morning consolidating its recent gains and stocks moved in a very narrow range since the open. Rates are expected to remain the same and Treasury purchases are expected to be reduced again. Investors and analysts will be paying close attention to the accompanying statement and press conference for clues as to any change in monetary policy. ECONOMIC EVENTS: In the U.S., the fourth quarter current account deficit narrowed to $81.1B, which lower than expected and down from a revised Q3 deficit of $96.4B. Investors await the FOMC meeting announcement, due at 2:00 pm ET, to be followed by Fed Chairwoman Janet Yellen’s press conference at 2:30 pm ET. COMPANY NEWS: Delivery giant FedEx (FDX) reported lower than expected third quarter revenue and earnings per share and lowered its FY14 outlook. Shares were down in pre-market trading but have bounced back to be up just slightly near midday as investors appear to be attributing the earnings miss to the severe winter weather, as the company explained... Another giant corporation, Oracle (ORCL), reported headline earnings and revenue for its last quarter than missed consensus expectations and its shares were down about 1% in midday trading. However, analysts at firms including Wells Fargo, Susquehanna and Stifel argued Oracle's underlying results were better than the headlines and contended the weakness was a buying opportunity. MAJOR MOVERS: Among the notable gainers was Horizon Pharma (HZNP), which advanced 14% after agreeing to buy Vidara Therapeutics through a reverse merger for stock and cash valued at about $660M to create a new company that will be organized under the laws of Ireland. Also higher was First Solar (FSLR), which jumped 14% after the company gave an earnings outlook for the current fiscal year that missed expectations but also guided to significantly better than expected earnings next fiscal year. Among the noteworthy losers after its earnings report was Renren (RENN), which operates a real name social networking Internet platform in China. The company's headline earnings beat the consensus forecast, but that was primarily due to a gain from the deconsolidation of its subsidiaries, and its shares dropped 10% following the report. Also lower was online travel company Orbitz Worldwide (OWW), which fell 9% after Goldman downgraded the stock to a Sell rating from Neutral. INDEXES: Near midday, the Dow was down 5.81, or 0.04%, to 16,330.38, the Nasdaq was down 4.41, or 0.1%, to 4,328.90, and the S&P 500 was down 0.52, or 0.03%, to 1,871.73.
News For FDX;ORCL;FSLR;OWW;HZNP;RENN From The Last 14 Days
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August 25, 2015
11:41 EDTFSLRSolarCity rises again after Chairman Musk buys shares
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11:23 EDTOWWAnalyst says Priceline undervalued, looks poised to outperform
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07:24 EDTORCLRentrak weakness a buying opportunity, says Brean Capital
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August 24, 2015
16:46 EDTFSLRPresident Obama announces new renewable energy commitments
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11:09 EDTFSLRGoldman says SolarCity attractive after sharp pullback
SolarCity (SCTY) shares are climbing in the down market after Goldman Sachs contended in a note to investors today that the stock is attractive following its recent sharp retreat, The company probably won't be affected by issues that are causing investors to worry about the solar sector, the firm believes. WHAT'S NEW: Noting that SolarCity's stock had tumbled 27% in the last month before today's open, Goldman Sachs analyst Brian Lee wrote that the shares are being dragged down by worries about financing and cost of capital that are affecting the entire solar sector. However, he contended that these issues are having only a "limited" impact on SolarCity. On August 13, the company successfully sold asset-backed securities and it said that more such sales are likely to occur in the near-term, Lee noted. Meanwhile, SolarCity isn't being affected by the cost of capital increases that other solar companies are experiencing, the analyst reported. Before today's open, the stock was near a two year low, even though SolarCity's fundamentals are still "strong," Lee believes. Additionally, the largest U.S. solar trade show, which is expected to begin on September 14, could boost solar stocks, as it has historically been a catalyst for the sector, the analyst stated. SolarCity may provide guidance about the outlook for its Silevo solar panel manufacturing subsidiary in the second half of 2015, and the guidance could boost the stock, Lee believes. The risk/reward ratio of SolarCity's stock is positive, according to the analyst, who has a Conviction List Buy and $85 price target on the shares. OTHERS TO WATCH: Other publicly traded companies in the solar space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunEdison (SUNE), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). PRICE ACTION: In late morning trading, SolarCity advanced 5.3% to $43.18.
August 23, 2015
17:40 EDTFDXJudge sends FedEx driver lawsuit back to trial court, Bloomberg says
A federal appeals court has sent a dispute over the employment status of FedEx drivers back to trial court, saying a jury must decide whether the drivers are independent contractors or full-fledged employees, reports Bloomberg. The verdict gives FedEx another chance to defend its practices, according to the report. Reference Link
August 21, 2015
13:04 EDTHZNPDepomed to file revocation statement with SEC
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06:56 EDTFSLRSolar companies spending $1B in Texas projects, WSJ says
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06:34 EDTFDXFedEx to launch EUR 8.00 bid for TNT Express on Aug. 24
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August 20, 2015
17:52 EDTFDXUPS pilots President issues statement on FedEx/ALPA tentative agreement
The following statement is from Captain Robert Travis, President of the Independent Pilots Association regarding the tentative pilot labor agreement between FedEx (FDX) and ALPA: "We congratulate our pilot peers and FedEx on reaching a new tentative collective bargaining agreement. While we have not seen the details, the IPA will refrain from commenting on the merits of the tentative agreement until the ALPA ratification process has been completed. If approved, however, the FedEx pilot contract will bring labor peace to our largest competitor. In sharp contrast, UPS (UPS) management has created a bitter standoff with its pilot employees, unnecessarily dragging out contract talks for four years. UPS must not allow itself to be left behind by FedEx. The IPA calls on UPS management to work with its pilots to expeditiously achieve an agreement."
17:33 EDTFDXFedEx reaches tentative agreement with Air Line Pilots Association
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12:05 EDTFDXBoeing reports eight new orders in weekly update
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11:49 EDTORCLOptions with increasing implied volatility
Options with increasing implied volatility: SRPT ACHN VIAV ZG RAD DIS ORCL SPY XLF OEX
08:32 EDTORCLOracle agrees to acquire Maxymiser
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07:03 EDTHZNPHorizon Pharma issued Notice of Allowance by USPTO covering Vimovo
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August 19, 2015
17:40 EDTHZNPDepomed sends letter to Horizon Pharma CEO
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17:36 EDTHZNPDepomed board unanimously rejects revised proposal from Horizon Pharma
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13:11 EDTFSLRCanadian Solar plummets after Q3 guidance, YieldCo comments
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August 18, 2015
11:03 EDTFSLRSunEdison raises capital while Trina Solar tops expectations
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06:39 EDTFDXUSPS boosts same-day delivery to compete with FedEx, UPS, Amazon, WSJ says
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