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Stock Market & Financial Investment News

News Breaks
August 14, 2014
11:52 EDTFNSR, ALLY, AMGNThird Point discloses new stakes in Finisar, Amgen, Ally Financial
News For FNSR;AMGN;ALLY From The Last 14 Days
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June 29, 2015
17:11 EDTALLYAlly Financial initiated with a Buy at Guggenheim
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June 24, 2015
07:56 EDTAMGNAmgen management to meet with Evercore ISI
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June 23, 2015
07:25 EDTAMGNPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
June 22, 2015
10:21 EDTFNSROptions with decreasing implied volatility
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June 19, 2015
16:17 EDTFNSROn The Fly: Top stock stories for Friday
Stocks on Wall Street began the session in negative territory and remained there throughout the entire day. The economic calendar was quiet and the news flow was slow, leaving the averages to move in a narrow range until the final hour, when “quadruple witching” action kicked in and moved them a leg lower. The simultaneous expiration of futures and options can cause increased volatility, which occurred as the day’s volume was light. ECONOMIC EVENTS: In the U.S., Baker Hughes reported that the U.S. Rig Count declined 2 rigs from last week to 857. In Europe, the ECB agreed to raise the limit on Emergency Liquidity Assistance to Greek banks for the second time in a week, though there were contradictory reports about the size of the increase. Next, the eurozone's heads of government will meet for an emergency summit to discuss Greece on Monday. In Asia, China's Shanghai Composite index dropped 6.4%, bringing the benchmark's weekly loss to 13.3% and sending the index into correction territory. The Bank of Japan kept interest rates unchanged and maintained its asset purchases program, as expected. The BOJ also said it will reduce the number of policy meetings it holds each year to 8 from the current 14 meetings, putting it on par with other major central banks. COMPANY NEWS: Shares of ConAgra (CAG) advanced $4.31, or 11.02%, to $43.43 after activist investor Jana Partners reported that it has acquired a 7.2% stake in the packaged foods company. Jana suggested that the company should undertake a strategic review of its strategy and corporate structure to determine if its businesses are optimally positioned to succeed, as well as various potential alternative transactions and structures... Another food producer, Hershey (HSY), fell $3.38, or 3.66%, to $88.89 after lowering its outlook for this fiscal year. The chocolate maker said its North America confectionery business is on track to deliver on its 2015 financial objectives, but cited growth in China that was below expectations for its lowered outlook. Hershey also announced the implementation of a new productivity initiative that will result in the company cutting about 300 jobs by the end of this year. MAJOR MOVERS: Among the notable gainers following the activist involvement in ConAgra were a number of its peers, including Pinnacle Foods (PF), which rose 8.58% to $46.80, and Treehouse Foods (THS), which gained 4.86% to $75.55. Also higher was KB Home (KBH), which gained $1.41, or 9.43%, to $16.37 after the homebuilder reported better than expected results for its fiscal second quarter. Among the noteworthy losers was Healthways (HWAY), which sunk $3.13, or 20.15%, to $12.40 after the health management solutions provider lowered its revenue outlook for fiscal year 2015. Also lower were shares of Finisar (FNSR), which fell $2.27, or 10.25%, to $19.88 and were downgraded at Raymond James following the company's fourth quarter earnings report last night. INDEXES: The Dow dropped 101.56, or 0.56%, to 18,014.28, the Nasdaq fell 15.95, or 0.31%, to 5,117.00, and the S&P 500 lost 11.49, or 0.54%, to 2,109.75.
16:02 EDTAMGNAmgen presents open-label extension data for Phase 2 study of migraine treatment
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12:49 EDTFNSROptical networking stocks slide after Finisar results
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10:00 EDTFNSROn The Fly: Analyst Downgrade Summary
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09:18 EDTFNSROn The Fly: Pre-market Movers
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09:14 EDTFNSRFinisar downgraded to Outperform at Raymond James
As previously reported, Raymond James downgraded Finisar to Outperform from Strong Buy and lowered its price target to $24 from $27. The firm is less positive regarding expense control and margins given increased competition among web scale customers.
07:23 EDTAMGNTeva data quite strong, says Bernstein
After Teva (TEVA) announced data for its TEV-48125 drug in episodic migraine, Bernstein notes that the drug met its primary and secondary endpoints. The firm says that the reduction in migraine days of Teva's drug appears to be higher than what Amgen (AMGN) and Lilly (LLY) have shown. The firm continues to see the migraine treatments from Teva and Alder as better than those from Lilly and Amgen.
06:54 EDTFNSRFinisar downgraded to Outperform from Strong Buy at Raymond James
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June 18, 2015
19:00 EDTFNSROn The Fly: After Hours Movers
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16:06 EDTAMGNAmgen says Phase 3 trial of Vectibix met primary endpoint
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16:06 EDTFNSRFinisar sees Q1 non-GAAP EPS 23c-29c, consensus 27c
Sees Q1 revenue $308M-$328M, consensus $318.04M. Sees Q1 non-GAAP operating margin 30.5%.
16:04 EDTFNSRFinisar reports Q4 non-GAAP EPS 25c, consensus 25c
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15:27 EDTFNSRNotable companies reporting after market close
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June 16, 2015
10:01 EDTALLYOn The Fly: Analyst Upgrade Summary
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05:29 EDTALLYAlly Financial upgraded to Buy from Neutral at Goldman
Goldman Sachs upgraded Ally Financial (ALLY) to Buy saying the company's balance sheet restructuring is being undervalued at current share levels. Goldman believes the loss of the General Motors (GM) business is being overly discounted in the valuation and raised its price target for shares to $27 from $24.50. The firm calls Ally one of the most attractive value investments in financials.

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