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Stock Market & Financial Investment News

News Breaks
December 19, 2012
12:58 EDTGM, ONTY, RGR, SWHC, MKL, ALTE, GIS, NAV, ATU, ORCL, FDX, BTHOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq a bit higher and the Dow and S&P modestly lower. The averages remained in a narrow trading range this morning, as investors await movement in the ongoing fiscal cliff negotiations, with Obama continuing to take an oppositional but hopeful tone in a press conference this afternoon... ECONOMIC EVENTS: In the U.S., housing starts slid 3.0% in November to a 861,000 start rate, versus the expected 872,000. However, building permits rose 3.6% month over month to a 899,000 rate, versus the expected 875,000. In Europe, German business confidence increased for a second month in December, as indicated by the Ifo Business Climate Index climbing to 102.4 from 101.4 in November. Also, S&P raised its rating on Greece to B-minus from selective default late Tuesday. In Asia, the World Bank forecast China’s economy to grow 7.9% this year but rebound to a growth rate of 8.4% in 2013... COMPANY NEWS: General Motors' (GM) stock rose about 8% after the company announced plans to buy back 200M shares held by the U.S. Treasury in a first step toward the government's full exit from its holding within the next 12 to 15 months. GM will pay $27.50 a share, or $5.5B total, and expects to close the deal to reduce the government's stake in the company to 19% from 26.5% by the end of this year... Among notable companies reporting earnings after the close last night or before today's open, Oracle (ORCL) advanced over 4% and FedEx (FDX) rose about 3%, while Actuant (ATU) declined more than 6%, Navistar (NAV) fell over 5% and General Mills (GIS) slid nearly 1%... UBS (UBS) agreed to pay about $1.5B in a settlement reached with American and British regulators over charges its traders conspired to manipulate the London Interbank Offered Rate, or LIBOR... MAJOR MOVERS: Among the notable gainers was Alterra Capital (ALTE), up 24% following its deal to be acquired by Markel (MKL) for $31 per share in stock and cash. Also higher were shares of Smith & Wesson (SWHC), up 9%, and Sturm, Ruger (RGR), up over 6%, after President Obama promised to pursue 'real reforms' to gun control laws but also defended the right to bear arms as granted by the 2nd amendment. Among the noteworthy losers was Oncothyreon (ONTY), down over 54% after its lung cancer drug missed its endpoint in a study. Also lower were shares of Blyth (BTH), which rose early in the session but then reversed to be down 9% near midday after increasing its ownership in ViSalus to more than 80%... INDICES: In early afternoon trading, the Dow was down 22.33, or 0.17%, to 13,328.63; the Nasdaq was up 4.39, or 0.14%, to 3,058.92; and the S&P 500 was down 1.40, or 0.10%, to 1,445.39.
News For GM;FDX;ORCL;ATU;NAV;GIS;ALTE;MKL;SWHC;RGR;ONTY;BTH From The Last 14 Days
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August 26, 2014
12:37 EDTGMGM recalls vehicles for potential steering defect
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06:42 EDTGMCCI charges automakers $420M for anti-competitive tendencies, Reuters says
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06:05 EDTGMGM's compensation fund receives 100 claims for deaths, Detroit News reports
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August 24, 2014
17:07 EDTGMGM considers delay in expansion of Russian plant, WSJ says
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August 22, 2014
13:49 EDTORCLOregon sues Oracle over health exchange website
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11:26 EDTORCLSalesforce.com rallies following beat and raise quarter
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11:04 EDTGMGM assessing timing of facility development in Russia, Reuters says
GM said that it was assessing the timing of the planned development of its Russian facility close to St Petersburg due to a decline in the automobile market in the country, according to Reuters, citing comments from a company spokesman. The spokesman said, "In view of the current business situation in Russia and the lower sales volumes since the start of the year, we are taking a close look at our plans. Reference Link
07:29 EDTSWHCSmith & Wesson September volatility elevated into Q1 and outlook
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06:54 EDTGMChrysler to not replace Ram steel body panels until 2020, Reuters says
Fiat's (FIATY) Chrysler is aiming to redesign its full-size Ram 1500 pickup trucks beginning in three years, but the car manufacturer has no definitive goals to follow competitors GM (GM) and Ford (F) in using aluminum body panels instead of steal until a finalized overhaul happens after 2020, according to Reuters, citing industry sources. Reference Link
06:07 EDTGMProsecutors investigating GM's legal department, WSJ reports
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August 21, 2014
13:52 EDTGMCadillac mulls expanding offices to Manhattan, Reuters says
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07:18 EDTNAVJuly Class 8 sales rose 16% year-over-year, says JPMorgan
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07:18 EDTGMChina considering new anti-trust rules for auto sector, China Daily says
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06:21 EDTGMGM product chief thinks Google might become 'threat,' Bloomberg says
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06:08 EDTGMGM launches new round of discounts for Labor Day weekend, WSJ reports
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August 19, 2014
15:57 EDTFDXFedEx pushed to settle drug case as U.S. adds laundering charge, Bloomberg says
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09:41 EDTGMGM recalls Silverados, Sierras equipped with auxiliary battery
GM is recalling certain model year 2007-2011 Chevrolet Silverado HD 2500/3500 trucks manufactured January 18, 2007, to June 22, 2011, and GMC Sierra HD 2500/3500 trucks manufactured January 22, 2007, to June 21, 2011, and equipped with an auxiliary battery. Owners may unknowingly draw too much current through the vehicle's trailer harness resulting in the melting of fusible link for the auxiliary battery. If the fusible link melts it may come into contact with adjacent components, damage the electrical center cover, the nearby wiring harness conduit and other vehicle components, increasing the risk of a fire. GM will notify owners and dealers will replace the jumper harness with one that includes a 40 amp inline fuse, and provide the owner with supplemental Owner Manual information, free of charge. The manufacturer has not yet provided a notification schedule. Reference Link
09:38 EDTGMGM recalls cars equipped with Calix oil pan, block heater
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09:07 EDTONTYOn The Fly: Pre-market Movers
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08:02 EDTGMBorgWarner supplies solenoid technology for General Motors' GF6
BorgWarner (BWA) supplies its mini direct-acting variable force solenoid for General Motors' (GM) global front-wheel drive 6-speed automatic transmission program, or GF6.
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