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Stock Market & Financial Investment News

News Breaks
July 28, 2014
15:47 EDTADVS, HLS, JEC, XL, GGP, MERU, IDTI, WRB, MAS, RRC, TTS, DENN, HLF, PCL, EMN, CRNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include General Growth Properties (GGP), consensus 30c; Eastman Chemical (EMN), consensus $1.84; Range Resources (RRC), consensus 40c; XL Group (XL), consensus 83c; Plum Creek Timber (PCL), consensus 30c; Masco (MAS), consensus 28c; Jacobs Engineering (JEC), consensus 80c; Herbalife (HLF), consensus $1.57; W.R. Berkley (WRB), consensus 77c; HEALTHSOUTH (HLS), consensus 47c; Denny's (DENN), consensus 8c; Integrated Device Technology (IDTI), consensus 16c; Advent Software (ADVS), consensus 34c; Tile Shop Holdings (TTS), consensus 11c; Meru Networks (MERU), consensus (11c); Crane Co. (CR), consensus $1.16.
News For GGP;EMN;RRC;XL;PCL;MAS;JEC;HLF;WRB;HLS;DENN;IDTI;ADVS;TTS;MERU;CR From The Last 14 Days
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March 17, 2015
10:26 EDTHLFOptions with increasing implied volatility
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08:15 EDTGGPMacerich adopts classified board structure, stockholder rights plan
Macerich (MAC) announced that its board unanimously approved two governance changes to ensure that all stockholders have the opportunity to realize the long-term value of their investment in the company and are protected from coercive takeover attempts. As permitted by the Maryland General Corporation Law, the board has adopted a classified board structure pursuant to which directors will be assigned to one of three classes, each serving three-year terms. In order to emphasize that the classified board is solely intended to protect stockholder value and not intended to be a permanent feature of the company's corporate governance, the company has committed to review the continued need for the classified board structure in 2016. In addition, the board has adopted a limited duration stockholder rights plan, effective March 17, and authorized a dividend distribution of one preferred share purchase right on each outstanding share of Macerich's common stock. If not redeemed or otherwise exchanged, the Rights Plan is limited in duration and will expire on the date of the company's 2016 Annual Meeting of Stockholders. Macerich's Board of Directors elected to implement these governance changes in response to the unsolicited takeover proposal announced by Simon Property Group (SPG) on March 9. In its proposal, Simon Property Group announced that it has entered into an agreement to sell selected Macerich assets to General Growth Properties (GGP). In addition, on March 12, James Barkley, General Counsel of Simon Property, sent a letter to Macerich indicating that Simon was contemplating the nomination of five dissident candidates to stand for election at Macerich's 2015 Annual Meeting of Stockholders. The Macerich Board believes this partnership raises serious antitrust concerns as it is a concerted effort by the two largest companies in the industry to acquire the number three company. As a result, the Board believes it is vital that it take proactive measures to protect stockholder value and prevent the accumulation of stock by any group that might seek to force the sale of the company.
08:12 EDTGGPMacerich rejects $91 per share proposal from Simon Property Group
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06:31 EDTIDTIIntegrated Device surpasses 10M shipment milestone
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March 16, 2015
11:58 EDTEMNDuPont retreats after Bank of America two notch downgrade to sell
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10:02 EDTEMNOn The Fly: Analyst Downgrade Summary
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09:44 EDTIDTIIntegrated Device mentioned cautiously at OTR Global
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06:45 EDTEMN, EMNEastman Chemical downgraded to Underperform from Outperform at CLSA
05:50 EDTHLFStocks with implied volatility movement; FIG HLF
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March 13, 2015
16:24 EDTHLFOn The Fly: Closing Wrap
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13:00 EDTHLFGlobal Strategy Group says not subject of federal investigation, Forbes reports
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12:33 EDTHLFOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday after data showed that U.S. wholesale prices unexpectedly declined in February for a fourth straight month. The Dow has lost more than 200 points, giving back most of what it had gained yesterday. ECONOMIC EVENTS: In the U.S., the producer price index decreased 0.5% in February, versus expectations for a gain of 0.3%. The "core" PPI, which excludes food and fuel, also declined 0.5%. The University of Michigan consumer sentiment index dropped to 91.2 in the preliminary reading for March, which was down from February's 95.4 reading and below the 95.5 consensus forecast. The Baker Hughes U.S. rig count for the week of March 13 is expected at 1:00 pm EDT. Outside the U.S., Russia's central bank cut its key interest rate by one percentage point to 14%. COMPANY NEWS: Herbalife (HLF) shares advanced nearly 13% after The Wall Street Journal reported last night that the FBI and Manhattan's federal attorney's office are investigating whether the stock has been manipulated. In response, Pershing Square Capital's Bill Ackman said his firm is not aware of any statements that it has made that are untrue, nor is it aware of any unlawful conduct on its part or by any consultants that it has hired, in relation to Herbalife, which Ackman reiterated he believes is a pyramid scheme. MAJOR MOVERS: Among the noteworthy advancers was NXP Semiconductors (NXPI), which gained 4% after Needham initiated coverage of with a Strong Buy and $140 price target. Also of note, the U.S. International Trade Commission agreed to investigate certain electronic products with near field communication systems made by Dell that NXP claims infringe its patents. Also higher was El Pollo Loco (LOCO), which rose 12.5% after the restaurant operator’s quarterly results surpassed consensus estimates. Among the noteworthy losers was Whiting Petroleum (WLL), which slid 8.5% following a report from Reuters that said the company may look to sell certain assets, not the whole company as had previously been suggested by media reports. Also lower following its earnings reports was teen apparel retailer Aeropostale (ARO), which fell more than 17%. INDEXES: Near midday, the Dow was down 211.25, or 1.18%, to 17,683.97, the Nasdaq was down 44.12, or 0.9%, to 4,849.17, and the S&P 500 was down 20.01, or 0.97%, to 2,045.94.
11:32 EDTHLFPershing Square says not aware of making any untrue statements about Herbalife
Pershing Square Capital Management CEO Bill Ackman disclosed a letter to Pershing Square investors in response to yesterday’s article in The Wall Street Journal regarding Herbalife. In the letter, Ackman states: "Since our initial presentation on Herbalife, Herbalife has been petitioning the government to investigate Pershing Square in connection with our short position in the company. We are not aware of any statements that we have made that are untrue, nor are we aware of any unlawful conduct on our part or by any consultants that we have hired...At no time have I or Pershing Square intentionally made any false or misleading statements about Herbalife...We have also voluntarily provided additional information about Herbalife to various U.S. authorities. It is Pershing Square’s long-standing policy to cooperate fully with any requests from any government agency for documents or for interviews."
09:25 EDTHLFOn The Fly: Pre-market Movers
UP AFTER EARNINGS: FXCM (FXCM), up 15.8%... El Pollo LoCo (LOCO), up 9.9%... Ulta Salon (ULTA), up 7.1%... Hibbett Sports (HIBB), up 5.1%... Ann Inc (ANN), up 5.5%... Spectrum Pharmaceuticals (SPPI), up 2.9%. ALSO HIGHER: Herbalife (HLF), up 5.1% following a Wall Street Journal report that federal prosecutors are investigating potential stock manipulation... Mobileye (MBLY), up 4.7% after being upgraded at Goldman... NXP Semiconductors (NXPI), up 1.7% after being initiated with a Strong Buy at Needham. DOWN AFTER EARNINGS: Aeropostale (ARO), down 13.2%... CTI BioPharma (CTIC), down 7.7%... Civeo (CVEO), down 3.4%. ALSO LOWER: Galena Biopharma (GALE), down 10.4% after announcing public offering of common stock and warrants... Whiting Petroleum (WLL), down 7.6% following a report from Reuters that explains that the company looks to sell certain assets instead of the whole company... Continental Building (CBPX), down 7.5% after 5M share Spot Secondary priced at $19.70.
08:16 EDTHLFAckman says not trading around Herbalife position
Bill Ackman of Pershing Square is speaking on CNBC.
08:10 EDTHLFAckman says Herbalife CEO has 'disappeared' the last two years
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08:07 EDTHLFAckman reiterates Herbalife is a pyramid scheme
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08:05 EDTHLFAckman says spending on Herbalife investigation less than $50M
Bill Ackman of Pershing Square is speaking on CNBC.
08:05 EDTHLFAckman says received no subpoenas over Herbalife
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07:20 EDTHLFAckman says 'puzzled' by Herbalife manipulation story, CNBC reports
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