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Stock Market & Financial Investment News

News Breaks
December 14, 2012
16:25 EDTGE, ADBE, PAY, RIGL, QUAD, ARIA, BBYOn The Fly: Closing Wrap
Stocks on Wall Street finished lower after the averages sat just below the flat line for much of the session. Stocks moved lower during the final ninety minutes of trading, leaving each of the major averages down on the week... ECONOMIC EVENTS: In the U.S., a report showed consumer prices declined 0.3% in November, mainly because of falling gasoline costs. When food and energy are removed from the equation, "core" prices increased 0.1%, versus expectations for them to rise 0.2%. Markit's preliminary manufacturing PMI improved to 54.2 in December, versus the 52.8 final reading for November. Industrial production beat expectations with a 1.1% increase in November, versus expectations for a rise of 0.3%. Industrial production capacity utilization rose to 78.4%, which was a bit more than an expected move up to 78.0%. In China, Markit's flash China PMI rose to a 14-month high reading of 50.9, beating expectations for a 50.8 reading. In Europe, Germany's flash PMI hit an 8-month high with a 50.2 reading... COMPANY NEWS: General Electric (GE) boosted its dividend by 12% to 19c per share and increased its existing share repurchase authorization by $10B... Among companies reporting earnings last night, Adobe (ADBE) shares rose $2.05, or 5.77%, to $37.58, while shares of VeriFone (PAY) declined $3.63, or 10.92%, to $29.60... MAJOR MOVERS: Among the notable gainers was Rigel Pharmaceuticals (RIGL), up $1.01, or 18.33%, to $6.52 after Leerink called the recent pullback a "temporary dislocation" and maintained an Outperform rating in the name. Also higher were shares of Quad/Graphics (QUAD), up $2.40, or 14.36%, to $19.11 after the company increased its quarterly dividend by 20% and declared a $2.00 per share special dividend. Among noteworthy losers was Aria Pharmaceuticals (ARIA), down $4.95, or 20.73%, to $18.93 after announcing that its leukemia treatment was approved by the FDA, though the regulator required that the drug include a "Boxed Warning." Shares of Best Buy (BBY) also slid $2.07, or 14.66%, to $12.05 after the company's board extended the deadline for founder Richard Schulze to deliver a potential buy-out bid... INDICES: The Dow was down 35.71, or 0.27%, to 13,135.01; the Nasdaq was down 20.83, or 0.70%, to 2,971.33; the S&P 500 was down 5.87, or 0.41%, to 1,413.58.
News For GE;ADBE;PAY;RIGL;QUAD;ARIA;BBY From The Last 14 Days
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September 22, 2014
11:02 EDTADBEOptions with decreasing implied volatility
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08:12 EDTGEGeneral Electric turbines selected by Nareva for 100MW wind farm in Morocco
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07:14 EDTPAYGSM Association to hold a conference
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05:32 EDTGEHologic upgraded to Overweight from Neutral at Piper Jaffray
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September 19, 2014
17:10 EDTGEGeneral Electric considers deal with Dresser-Rand, FT reports
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16:25 EDTGEGeneral Electric said in talks with Dresser-Rand on potential deal, FT reports
10:28 EDTADBEOptions with decreasing implied volatility
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September 18, 2014
17:57 EDTARIAARIAD CEO buys 25K shares of company stock
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10:27 EDTADBEOptions with decreasing implied volatility
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06:52 EDTGEGeneral Electric shares attractive at current levels, says Barclays
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September 17, 2014
12:01 EDTADBEAdobe falls after Q4 revenue outlook trails consensus
Shares of creative software maker Adobe Systems (ADBE) are falling after it guided to fourth quarter revenue below analysts' consensus view. WHAT'S NEW: Last night, Adobe reported Q3 adjusted earnings per share of 28c and revenue of $1.005B, compared to analysts' consensus estimates of 26c and 1.02B, respectively. Adobe exited Q3 with 2.81M creative cloud subscriptions, a sequential increase of 502,000. WHAT'S NOTABLE: Adobe forecast Q4 adjusted EPS of 26c-32c, versus consensus of 31c. The company sees Q4 revenue of $1.025B-$1.075B, below the consensus forecast of $1.09B. The company expects net new creative cloud subscriptions to grow sequentially in Q4 to slightly exceed its target of 1M. ANALYST REACTION: This morning, analyst commentary was positive, with several firms recommending buying shares of Adobe on any weakness. Research firm Stern Agee was among them, stating that Adobe's revenue miss was driven by a shift of perpetual licenses to term contracts. Sterne Agee said that Adobe's deferred revenue outperformed, which should give long-term investors confidence in the name. It believes the long-term transition story is intact, and expects upside to revenues in FY15. The firm kept a Buy rating on the shares with a price target of $85. Two other firms, JMP Securities and BofA Merrill Lynch also recommended buying Adobe amid its post-earnings weakness. PRICE ACTION: Near noon, Adobe fell $2.74, or nearly 4%, to $68. Despite today's pull-back, the shares have gained about 40% over the past 12 months. ANOTHER TO WATCH: Autodesk, (ADSK), which also serves software customers in the digital media and entertainment industries, is down fractionally to $54.54.
11:02 EDTADBEOptions with decreasing implied volatility
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10:00 EDTGEOn The Fly: Analyst Initiation Summary
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09:15 EDTADBEAdobe shares should be bought on weakness, says Sterne Agee
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09:10 EDTADBEOn The Fly: Pre-market Movers
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08:32 EDTADBEAdobe should be bought on any weakness, says JMP Securities
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08:02 EDTPAYVeriFone expands Point-to-Point Encryption services to UK
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07:39 EDTGEMorningstar to hold a conference
Management Behind the Moat Conference to be held in Chicago on September 17-18.
07:21 EDTADBEAdobe weakness a buying opportunity, says BofA/Merrill
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05:55 EDTADBEStocks with implied volatility top IV index mean; AMD ADBE
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