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Stock Market & Financial Investment News

News For GM;FDX;ORCL;GIS;RMCF;BTH;KCG;NAV;AA;ONTY From The Last 14 Days
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April 21, 2015
09:07 EDTONTYOncothyreon discloses General Manager's Jay Venkatesan intent to resign
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07:29 EDTFDXFedEx management to meet with Deutsche Bank
Meetings to be held in Toronto/Montreal on April 21 hosted by Deutsche Bank.
April 20, 2015
16:01 EDTAAOptions Update; April 20, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 21.52. Option volume leaders: AAPL VZ PBR TWTR TSLA TWTR NFLX MCP FB AMZN AA C according to Track Data.
15:16 EDTGMGreenlight starts new GM long position, rolls Lorillard short bet to Reynolds
David Einhorn's Greenlight Capital hedge fund said in its latest quarterly letter to investors that it had established new long positions in General Motors (GM), Chicago Bridge & Iron (CBI) and AerCap Holdings (AER) last quarter. WHAT'S NEW: Greenlight believes GM should benefit from low gas prices, low raw material costs, and its decision to launch share buybacks, Greenlight stated. GM has an excellent chance of beating 2015 EPS expectations, added the firm. Einhorn's group said they found the valuation of Chicago Bridge and Iron, an engineering and construction company with significant exposure to energy, attractive following the stock's decline. Although energy prices may stay low for some time, the company has a significant backlog that should support its earnings for several years, Greenlight stated. Additionally, the market is overestimating how much of the cost overruns for two nuclear energy projects with be shouldered by the company, Greenlight contended. AerCap, the largest publicly traded aircraft leasing company, bought AIG's (AIG) aircraft leasing business last year at a bargain price, Greenlight stated. The combined business will benefit from AerCap's low tax rate, as well as efficiencies, the hedge fund believes. WHAT'S NOTABLE: Greenlight exited its short position in Lorillard (LO). Greenlight noted that it has rolled its short bet on Lorillard into a fresh position in Reynolds American (RAI), since it still believes that the FDA is gearing up to do "something major" in terms of regulation of menthol cigarettes, but is moving "slowly and deliberately" because it anticipates an extremely aggressive industry response. The firm also exited two other short positions because the companies agreed to takeovers: Safeway (SWY) and Freescale Semiconductor (FSL), which has agreed to sell itself to NXP Semicondictors (NXPI).
14:16 EDTGMEinhorn lists AerCap, CBI, GM as new longs, Bloomberg reports
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11:35 EDTGMGeneral Motors ignition switch death claims rise to 87, WSJ reports
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10:00 EDTGISOn The Fly: Analyst Upgrade Summary
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09:36 EDTAAActive equity options trading on open
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07:50 EDTFDXFedEx management to meet with Deutsche Bank
Meetings to be held in Memphis/Toronto on April 20 hosted by Deutsche Bank.
06:50 EDTGMTesla price target slashed to $165 at JPMorgan
After lowering its earnings estimates to reflect adverse currency moves, higher operating costs and slower than earlier expected Model X ramp, JPMorgan cut its price target for Tesla shares to $165 from $175. The stock closed Friday up 9c to $206.79. The firm dropped its Q1 earnings estimate to (38c) from (31c) despite the increase in Q1 deliveries preannounced by the electric car maker. JPMorgan keeps an Underweight rating on Tesla, the firm's equivalent to a sell. It maintains Overweight ratings on Ford (F) and General Motors (GM) with price targets of $19 and $46, respectively, ahead of the Q1 reporting season.
06:20 EDTGISGeneral Mills upgraded to Neutral from Sell at Goldman
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April 19, 2015
12:42 EDTGMGM China JV plans $16B investment in new car development, WSJ says
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April 17, 2015
09:36 EDTAAActive equity options trading on open
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April 16, 2015
15:44 EDTORCLCSC holding 'loose' deal talks, not running formal process, dealReporter says
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11:07 EDTFDXBoeing reports one new order in weekly update
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09:36 EDTAAActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX NEE AMT WFM C PM INTC AA MCD
06:33 EDTGMToyota engineer says charging electric cars quickly impractical, Reuters says
Charging electric vehicles quickly would place too much pressure on the electricity grid, Yoshikazu Tanaka, chief engineer of Toyota's hydrogen fuel-cell car Mirai, said, according to Reuters. If a car received enough electricity in 12 minutes to travel 310 miles, it would probably consume enough electricity to power 1,000 houses, the news service quoted Tanaka as saying. Prominent makers of electric cars include Tesla (TSLA), Nissan (NSANY), and GM (GM).Reference Link
April 15, 2015
19:20 EDTGMCo-lead counsel in GM ignition lawsuit will appeal bankruptcy shield ruling
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17:45 EDTGMJudge allows GM to remain shielded from pre-bankruptcy accidents, Reuters says
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16:47 EDTGMJudge says GM can keep 'shield' against pre-bankruptcy lawsuits, Reuters says
10:19 EDTAAOptions with decreasing implied volatility
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09:55 EDTGMBofA/Merrill U.S. autos analysts hold an analyst/industry conference call
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07:36 EDTKCGKCG Holdings reports March trade volumes
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April 14, 2015
18:07 EDTGMGeneral Motors seeks to cut costs via longer term supply contracts, WSJ says
General Motors’ new purchasing chief said the company is trying to lock in its supplier contracts for a term covering two vehicle generations, or as long as a decade, in a bid to cut costs and gain access to advanced technology, The Wall Street Journal reports. Reference Link
09:37 EDTFDXPlug Power says FedEx rolling out GenDrive powered cargo tuggers
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07:10 EDTFDXAviation Week to hold a conference
MRO Americas 2015 is being held in Miami Beach on April 14-16.
April 13, 2015
17:21 EDTGMGeneral Motors confirms raising quarterly dividend to 36c from 30c per share
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13:31 EDTGMDeath claims linked to GM ignition switches up to 84, WSJ reports
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12:58 EDTGMGM says it has resolved Bolt's technical challenges, Financial Times reports
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12:44 EDTGMFiat Chrysler interested in partnering with GM, Reuters says
Fiat Chrysler 9FCAU) CEO Sergio Marchionne is looking to make a "mega deal" before stepping down in early 2019 and has shown "particular interest" in partnering with GM(GM), according to Reuters. GM is strong in Asia, an area of weakness for Fiat Chrysler, while GM is looking to expand in Europe, the news service stated. Reference Link
12:42 EDTORCLFly Watch: Wells says ServiceNow likely to unveil upbeat revenue target
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09:34 EDTAAActive equity options trading on open
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07:16 EDTGMTechWeek to hold a conference
TechWeek Detroit 2015 is being held in Detroit on 4/13-19.
April 12, 2015
13:45 EDTFDXUPS to invest $1.06B in Europe expansion, Reuters says
According to a report in German magazine Wirtschaftswoche, UPS (UPS) plans to invest over $1B in Europe to expand its package delivery network, says Reuters. Last week UPS rival FedEx (FDX) announced its intention to acquire TNT Express (TNTEY) for EUR 8.00 per share. Reference Link
April 10, 2015
16:19 EDTFDX, AAStocks finish week higher as investors speculate jobs data could delay rate hike
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09:39 EDTAAActive equity options trading on open
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08:23 EDTORCLOracle management to meet with Barclays
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06:13 EDTGMGeneral Motors added to Focus List at Citigroup following selloff
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April 9, 2015
16:17 EDTAAOn The Fly: Closing Wrap
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16:00 EDTAAOptions Update; April 9, 2015
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13:09 EDTAAOn The Fly: Midday Wrap
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12:01 EDTAAMetal stocks lower after Alcoa reports Q1 results
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11:31 EDTGMGM may make 'major' investment in Warren Tech Center, Detroit News says
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09:36 EDTAAActive equity options trading on open
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09:27 EDTAAOn The Fly: Pre-market Movers
HIGHER: Pier 1 Imports (PIR), up 5.8% after earnings beat estimates, dividend boosted, and shares upgraded at Wedbush... Novogen (NVGN) rose after announcing that Australian studies revealed its experimental drug, Anisina, killed melanoma cells irrespective of their mutational status. Shares of small-cap Novogen rose 35% in pre-market trading following the company's report on the studies... TASER (TASR), up 3.8% after announcing UK order from London for 178 AXON body cameras... United Continental (UAL), up 2.8% after narrowing Q1 PRASM forecast... Walgreens Boots Alliance (WBA), up 2.4% after reporting Q2 results. LOWER: Zynga (ZNGA), down 12% after announcing last night that current CEO Don Mattrick will depart the company and the board and Mark Pincus, Zynga's founder and chairman, will return to the role of CEO... Alcoa (AA), down 2% after reporting Q1 financial results and giving 2015 guidance... Cliffs Natural (CLF), down 4.6% after BMO Capital cut it rating to the equivalent of sell and halved its price target on the stock to $4.
08:41 EDTGMGM's Opel unit reports Q1 new passenger car sales 279,306 units
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06:19 EDTGMGeneral Motors considering $1.3B expansion of Arlington plant, Reuters reports
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06:07 EDTGMGM to temporarily halt production of Chevrolet Volt, WSJ reports
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05:57 EDTORCLOracle plans to hire 300 in India, Economic Times reports
Oracle is planning to hire 300 people in India to create a specialized cloud force, according to The Economic Times. Reference Link
April 8, 2015
19:46 EDTAAOn The Fly: After Hours Movers
UP AFTER EARNINGS: Apogee (APOG), up 6.4%... Pier 1 Imports (PIR), up 4.4%. ALSO HIGHER: Inovio Pharmaceuticals (INO), up 5.6% after being selected by DARPA to lead $45M Ebola prevention program. DOWN AFTER EARNINGS: Alcoa (AA), down 3.5%... Bed Bath & Beyond (BBBY), down 3.5%. ALSO LOWER: Zynga (ZNGA), down 10.3% after announcing CEO transition... Memorial Production (MEMP), down 2.9% after filing to sell 4.6M common units owned by MRD Holdco... Regulus (RGLS), down 2.2% after filing to sell 3.3M shares for Isis Pharmaceuticals.
19:09 EDTGMGM pressures Canadian workers to reduce pension benefits, Globe and Mail says
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18:06 EDTAAAlcoa lower by 3.2% after reporting Q1 financial results
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17:21 EDTAAAlcoa sees generating $500M in free cash flow for FY15
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17:04 EDTAAAlcoa says revenue growth driven by organic growth in auto and aero
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16:12 EDTAAAlcoa sees 2015 global aluminum demand growth of 6.5%
Given final 2014 worldwide aluminum demand, Alcoa has upwardly revised its view of global aluminum demand growth in 2014 to 9%, an increase from the prior forecast of 7%. This results in global consumption of 54M metric tons, or 1.2M metric tons higher than previously forecast. Alcoa continues to project further robust global aluminum demand growth in 2015 of approximately 3.5M metric tons, equaling 6.5% growth and reaching a new record high of 57.5M metric tons.
16:09 EDTAAAlcoa sees 2015 global aerospace sales to increase 9%-10% over 2014
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16:04 EDTAAAlcoa reports Q1 EPS 28c, consensus 26c
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16:01 EDTAAActionable Options for Wednesday, April, 8
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15:24 EDTAANotable companies reporting after market close
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14:29 EDTAAAlcoa technical comments ahead of results
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14:12 EDTAAAlcoa April weekly 13 straddle priced for 5% movement into Q1
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09:45 EDTAAEarnings Watch: Alcoa sentiment mixed ahead of Q1 results
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09:35 EDTAAActive equity options trading on open
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08:51 EDTFDXEU poses signficant risk to FedEx deal, says RBC Capital
After FedEx agreed to buy TNT, RBC Capital is upbeat on the deal, but says that EU regulatory approval poses a significant risk to the closing of the transaction. The firm expects FedEx's stock to remain range bound until investors become more convinced that the deal will be approved or that the company can deliver on its profit targets,. The firm keeps a Sector Perform rating on FedEx.
07:50 EDTFDXFedEx management to meet with Deutsche Bank
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07:48 EDTAAAlcoa April volatility elevated into Q1 and outlook
Alcoa April weekly call option implied volatility is at 58, April is at 42, May is 38, June is at 35, October is at 34; compared to its 26-week average of 34 according to Track Data, suggesting large April price movement into its expected release of Q1 results on April 8.
07:13 EDTFDXFedEx acquisition has high execution risk, says Bernstein
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April 7, 2015
16:18 EDTFDXOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory, extending their gains from yesterday. The economic calendar was relatively quiet and the volume was light as investors moved to the sidelines ahead of the start of the first quarter earnings season, which kicks off tomorrow after the close with Alcoa's (AA) report. A late day slide saw the major averages give up their gains, leaving the Dow, Nasdaq and S&P 500 a bit below where they had started the day. ECONOMIC EVENTS: In the U.S., the JOLTs report showed job openings rose 168K to 5.13M in February, topping the consensus forecast for about 5M opening. Consumer credit climbed $15.5B in February, versus the expectation for consumers to have added $12.5B in new credit. In Europe, Markit's composite PMI for the eurozone came in at 54.0, which was down slightly from the flash reading of 54.1 but up from 53.3 in February and matched the prior peak seen in April of last year. Elsewhere globally, the central banks of Australia and India left their respective key interest rates unchanged, as expected. COMPANY NEWS: Shares of FedEx (FDX) advanced $4.49, or 2.69%, to $171.16 after the shipper announced a conditional deal to acquire TNT Express (TNTEY) for EUR 8.00 per share in a transaction valuing the Netherlands-based express delivery company at an implied equity value of about $4.8B. The company hopes it is more successful in its acquisition attempt than rival UPS (UPS), which had agreed a number of years ago to buy TNT for EUR 9.50 per share. UPS pulled out of its planned purchase after its proposed deal for TNT was blocked by regulators. MAJOR MOVERS: Among the notable gainers was Axalta Coating Systems (AXTA), which gained $2.78, or 9.81%, to $31.11 after an affiliate of Warren Buffett's Berkshire Hathaway (BRK.A) agreed to buy 20M of Axalta’s common shares for an aggregate purchase price of $560M, or $28.00 per share, from The Carlyle Group (CG). Also higher was Informatica (INFA), which advanced $1.96, or 4.28%, to $47.79 after agreeing to be acquired by the Permira funds and Canada Pension Plan Investment Board for approximately $5.3B, or $48.75 in cash per share. The official announcement follows recent stories from Reuters that the company was working on a deal with a private equity buyer. Among the noteworthy losers was Ocular Therapeutix (OCUL), which dropped $7.25, or 18.93%, to $31.05 after reporting that the company’s second of two Phase 3 clinical trials evaluating the safety and efficacy of its lead product candidate, OTX-DP, met only one of the study’s two primary efficacy endpoints. Also lower were shares of Woodward (WWD), which fell $3.06, or 5.95%, to $48.36 after Jefferies downgraded the stock to Hold from Buy and set a $52 price target on the shares, saying FY15 is another transition year for the company. INDEXES: The Dow slipped 5.43, or 0.03%, to 17,875.42, the Nasdaq lost 7.08, or 0.14%, to 4,910.23, and the S&P 500 declined 4.29, or 0.21%, to 2,076.33.
15:15 EDTGISGeneral Mills volatility elevated as shares near record high
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12:58 EDTFDXOn The Fly: Midday Wrap
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11:27 EDTGMCanadian sale of General Motors stake removes an overhang, says BofA/Merrill
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09:35 EDTFDX, AAActive equity options trading on open
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09:23 EDTGM, FDXOn The Fly: Pre-market Movers
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09:13 EDTFDXFedEx says does not see competing offer for TNT Express
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09:12 EDTFDXFedEx trades up in pre-market on TNT Express acquisition
The shares are up over 4% to $173.50 in the pre-market. At that price next resistance is at $175.13. Support is at $172.33.
09:05 EDTFDXFedEx says thinks TNT Express a 'wonderful fit everywhere'
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09:01 EDTGMGeneral Motors 73.39M share Block Trade priced at $35.90
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08:57 EDTFDXFedEx says wants to keep growing dividend, will keep buying back stock
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08:56 EDTFDXFedEx says expects to have 'wonderful' FY16
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08:49 EDTFDXFedEx says sees TNT Express 'very accretive' to earnings after FY17
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08:40 EDTFDXTNT Express to hold a conference call
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08:29 EDTFDXFedEx to hold a conference call
Conference call to discuss agreement on an all-cash public offer for TNT Express shares will be held on April 7 at 8:30 am. Webcast Link
07:33 EDTFDXFedEx volatility flat into announcing purchase of TNT Express for about $4.8B
FedEx overall option implied volatility of 20 compares to its 26-week average of 21 according to Track Data, suggesting non-directional price movement into announcing the purchase of Dutch parcel-delivery firm TNT Express for about $4.8B to expand in Europe.
07:18 EDTFDXFedEx acquisition of TNT Express a good strategic fit, says UBS
UBS said FedEx's (FDX) proposed acquisition of TNT Express (TNTEY) is a good strategic fit, as it increases FedEx's presence in Europe, adds scale where there are complementary services, and provides for operations synergy potential. UBS reiterated its Buy rating and $195 price target on FedEx shares.
06:56 EDTGMGeneral Motors 73.39M share Block Trade; price range $35.80-$36.00
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06:25 EDTFDXTNT Express expects EU to approve FedEx deal, Reuters reports
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05:16 EDTFDXFedEx to acquire TNT Express for EUR 8.00 per share
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05:11 EDTFDXFedEx to acquire TNT Express for EUR 8.00 per share
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