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Stock Market & Financial Investment News

News Breaks
July 17, 2014
10:00 EDTFOXA, PETM, PNC, MQBKY, JMI, IGT, GNC, DEO, COV, CHTR, REXMYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 21st Century Fox (FOXA) downgraded to Buy from Strong Buy at ISI Group... Charter (CHTR) downgraded to Hold from Buy at Jefferies... Covidien (COV) downgraded to Hold from Buy at Needham... Diageo (DEO) downgraded to Underweight from Neutral at JPMorgan... GNC Holdings (GNC) downgraded to Hold from Buy at Jefferies... International Game (IGT) downgraded to Market Perform from Outperform at BMO Capital... JAVELIN Mortgage (JMI) downgraded to Market Perform from Outperform at JMP Securities... Macquarie Group (MQBKY) downgraded to Underweight from Neutral at JPMorgan... PNC Financial (PNC) downgraded to Neutral from Buy at Compass Point... PetSmart (PETM) downgraded to Sector Perform from Outperform at RBC Capital... Rexam (REXMY) downgraded to Hold from Buy at Deutsche Bank.
News For FOXA;CHTR;COV;DEO;GNC;IGT;JMI;MQBKY;PNC;PETM;REXMY From The Last 14 Days
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July 16, 2014
08:15 EDTFOXA21st Century Fox says Time Warner board declined to pursue proposal
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08:14 EDTFOXA21st Century Fox confirms proposal to combine with Time Warner
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08:14 EDTFOXA21st Century Fox confirms proposal to combine with Time Warner
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08:07 EDTFOXAFox willing to pay over $85/share for Time Warner, Bloomberg reports
Rupert Murdoch's 21st Century Fox is willing to pay more than $85 per share for Time Warner (TWX), Bloomberg reports, citing a person with knowledge of the matter. Shares of Time Warner are trading up 20% in pre-open trading to $85.10 after Andrew Ross Sorkin reported that the company formally rejected an $80B, $85 per share takeover bid from Fox. Shares of Fox are trading up 56c to $35.75. Reference Link
07:59 EDTCOVTreasury Secretary urges Congress to take action on tax inversions
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07:43 EDTFOXADiscovery volatility expected to move on Time Warner rejecting 21st Century Fox
Discovery (DISCA) volatility expected to move after Time Warner (TWX) rejected an $80B offer from 21st Century Fox, (FOXA). Overall option implied volatility of 25 is near its 26-week average of according to Track Data, suggesting non-directional price movement. Discovery is expected to release of Q2 results on July 31.
07:30 EDTFOXATime Warner turned down $80B offer from 21st Century Fox, NYT says
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07:25 EDTFOXA21st Century Fox volatility expected to move on Time Warner rejecting $80B offer
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07:23 EDTFOXATime Warner volatility expected to move,rejects $80B offer from 21st Century Fox
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07:12 EDTFOXATime Warner rejected $80B offer from 21st Century Fox, CNBC reports
Time Warner (TWX) has formally rejected an $80B takeover offer from Rupert Murdoch's 21st Century Fox (FOXA), CNBC's Andrew Ross Sorkin reports, citing sources. The deal valued Time Warner at $85 per share and included 60% non-voting stock and 40% cash, Sorkin added. Fox would raise $24B in financing for the deal, he noted. Fox also planned on spinning off its CNN unit in an attempt to appease regulators, the reporter said. Rupert Murdoch remains "determined" to buy Time Warner, Sorkin noted, believing a combination would generate at least $1B in synergies. Time Warner has hired Citigroup and others following receipt of 21st Century Fox's offer, Sorkin added. Shares of Time Warner rallied 13% to $79.97 in pre-open trading following Sorkin's report. The stock closed yesterday down 67c to $71.01.
07:06 EDTFOXATime Warner rejected $80B offer from 21st Century Fox, CNBC reports
07:04 EDTFOXARupert Murdoch 'determined' to own Time Warner, CNBC reports
07:04 EDTFOXATime Warner hired Citigroup, others after 21st Century Fox offer, CNBC says
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07:02 EDTFOXATime Warner rejected $85/share offer from 21st Century Fox, CNBC says
06:44 EDTPNCPNC Financial reports Q2 EPS $1.85, consensus $1.78
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05:58 EDTIGTInternational Game to host conference call
Conference call to discuss merger agreement with GTECH will be held on July 16 at 8:30 am. Webcast Link
05:31 EDTIGTInternational Game to be acquired by GTECH for $4.7B cash, stock
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05:26 EDTIGTInternational Game to be acquired by GTECH for $4.7B cash, stock
July 15, 2014
15:19 EDTPNCNotable companies reporting before tomorrow's open
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11:45 EDTDEODiageo downgraded to Sell from Hold at Societe Generale
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