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Stock Market & Financial Investment News

News Breaks
March 19, 2014
12:38 EDTRENN, FSLR, HZNP, ORCL, OWW, FDXOn 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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December 15, 2014
09:27 EDTORCLOn The Fly: Pre-market Movers
HIGHER: Opko Health (OPK), up 13.1% after Pfizer (PFE) and OPKO Health enter into global agreement for hGH-CTP... Cirrus Logic (CRUS), up 7.5% after being upgraded to Overweight from Underweight at Barclays... PetSmart (PETM), up 4.7% after being acquired by BC Partners led consortium for $83 per share... Sohu.com (SOHU), up 3% after being upgraded to Overweight from Neutral at JPMorgan... Oracle (ORCL), up 2.2% after receiving FedRAMP provisional authority to operate. LOWER: Unwired Planet (UPIP), down 25.7% after commenting on Google (GOOG) Markman ruling... EXCO Resources (XCO), down 13% after suspending its dividend.
09:24 EDTFDXFedEx says higher e-commerce purchases increases residential deliveries
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09:03 EDTORCLOracle achieves FedRAMP provisional authority to operate
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08:53 EDTFDXFedEx December volatility increases into Q2 and outlook
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07:33 EDTORCLOracle upgraded at Morgan Stanley
As previously reported, Morgan Stanley upgraded Oracle to Overweight from Equal Weight. The firm's surveys indicate improving Cloud Apps growth in 2015 against low expectations and weak sentiment, favorable adoption of the new 12c database options next year, and improved perception value in Engineered Systems. Price target is $50.
06:34 EDTORCLOracle upgraded to Overweight from Equal Weight at Morgan Stanley
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December 12, 2014
10:01 EDTORCLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BreitBurn Energy (BBEP) downgraded to Hold from Buy at Wunderlich... CIBC (CM) downgraded to Underperform from Neutral at Credit Suisse... Costco (COST) downgraded to Neutral from Buy at Janney Capital... Discovery (DISCA) downgraded to Sector Perform from Outperform at RBC Capital... Emerald Oil (EOX) downgraded to Neutral from Accumulate at Global Hunter... Goodrich Petroleum (GDP) cut to Underweight on lower oil at JPMorgan... Hain Celestial (HAIN) downgraded to Sector Perform from Outperform at RBC Capital... Hovnanian (HOV) downgraded to Neutral from Buy at Compass Point... Mindray Medical (MR) downgraded to Underweight from Equal Weight at Morgan Stanley... Morgan Stanley (MS) downgraded to Neutral from Buy at Buckingham... Oracle (ORCL) resumed with a Neutral from Overweight at Piper Jaffray... Rackspace (RAX) downgraded to Underperform from Neutral at DA Davidson... Zayo Group (ZAYO) downgraded to Neutral from Buy at BTIG.
07:24 EDTORCLOracle December volatility elevated into Q2 and outlook
Oracle December call option implied volatility is at 40, January is at 26, March is at 22; compared to its 26-week average of 22 according to Track Data suggesting larger near term price movement into the expected release of Q2 results after the close on December 17.
06:40 EDTORCLOracle resumed with a Neutral from Overweight at Piper Jaffray
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December 11, 2014
14:47 EDTFDXFedEx management to meet with
Meeting to be held in Florida on December 18 hosted by William Blair.
11:07 EDTFDXFedEx December volatility increases into Q2 and outlook
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10:13 EDTFDXOn The Fly: Analyst Initiation Summary
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06:17 EDTFDXFedEx initiated with a Neutral at UBS
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December 10, 2014
16:57 EDTFDXFedEx Freight says Teamsters withdraw election petition
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12:09 EDTRENNYouku Tudou rises slightly in down market after Credit Suisse upgrade
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11:57 EDTFSLRStocks with call strike movement; NFX FSLR
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08:05 EDTFSLRFirst Solar announces strategic investment in Clean Energy Collective
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December 5, 2014
07:17 EDTORCLOracle December volatility elevated into Q2 and margin outlook
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December 4, 2014
12:39 EDTFDXFedEx December volatility up, shares near record high into Q2 and outlook
FedEx December call option implied volatility is at 24, January is at 21, April is at 20; compared to its 26-week average of 22 according to Track Data, suggesting slightly larger near term price movement into the expected release of Q2 results on December 17.
08:14 EDTFDXFedEx price target raised to $200 from $175 at Oppenheimer
Oppenheimer thinks that FedEx's risk/reward ratio is positive, as it believes the company has a number of positive macro catalysts, including lower fuel prices, strong e-commerce, and upbeat U.S. economic trends. The firm is also upbeat on the company's profit improvement plan and keeps an Outperform rating on the shares.
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