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Stock Market & Financial Investment News

News Breaks
June 4, 2014
12:36 EDTGM, FSLR, NQ, FCEL, COHOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite a number of disappointing economic reports. Payroll provider ADP estimated that 179K new jobs were added last month, but that was below expectations. The trade balance report showed that the U.S. had its largest deficit in two years during April as exports slowed and imports surged. Non-farm productivity for the first quarter was also downwardly revised by more than expected. The lone bright spot were non-manufacturing reports from ISM and Markit. Despite all the negative data points, the market has drifted its way back into positive territory and was just north of the flat line near noon. ECONOMIC EVENTS: In the U.S., ADP reported private payrolls increased 179k in May, which was below the consensus forecast for 210K job additions. The U.S. trade deficit widened to $47.2B in April from $44.2B in March. Q1 productivity growth was revised lower to (3.2%), versus (1.7%) initially and expectations for a reduction to (3.1%.). Markit's services PMI rose to 58.1 in May from 55.0 in April, while ISM's services index rose to 56.3 in May from a reading of 55.2 last month. COMPANY NEWS: General Motors (GM) shares were up about 4% near noon after the company confirmed it will provide an update on its ignition switch recall investigation, followed by a press conference hosted by CEO Mary Barra, tomorrow. MAJOR MOVERS: Among the notable gainers was NQ Mobile (NQ), which jumped 38% after the company reported that its special committee's independent investigation did not find any evidence that the company had engaged in the fraudulent conduct alleged by Muddy Waters. Carson Block of Muddy Waters said in an emailed statement to Bloomberg that NQ Mobile is "unequivocally a fraud" and the company's press release today was "whitewash." Also higher was First Solar (FSLR), which rose 6% amid a number of headlines. The Department of Commerce announced its affirmative preliminary determination in a countervailing duty investigation of imports of certain solar power products from China, which Credit Suisse called positive for U.S. developers, the company agreed to buy Europe's skytron-energy, and a hearing on First Solar's challenge of an Indian government dumping determination was reportedly deferred to July. Among the noteworthy losers was FuelCell (FCEL), which dropped 8% after the company reported second quarter losses and revenue that were worse than analysts' consensus estimate. Also lower were shares of luxury products retailer Coach (COH), which slipped 2% after research firm Sterne Agee lowered its rating on the stock to Neutral from Buy in a note to investors earlier today. INDEXES: Near midday, the Dow was up 7.04, or 0.04%, to 16,729.38, the Nasdaq was up 17.68, or 0.42%, to 4,251.76, and the S&P 500 was up 2.75, or 0.14%, to 1,926.99.
News For GM;FSLR;NQ;FCEL;COH From The Last 14 Days
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September 9, 2014
09:12 EDTFCELOn The Fly: Pre-market Movers
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09:06 EDTCOHJimmy Choo near London IPO with $1B valuation, Bloomberg says
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08:35 EDTFCELFuelCell agrees to sell fuel cell power project to NRG Energy
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07:02 EDTCOHCoach names Gebhard Rainer as president and COO, effective September 29
Coach (COH) announced the appointment of Gebhard Rainer, as President and COO, effective September 29. Rainer joins Coach from Hyatt Hotels Corporation (H), where he most recently held the position of Executive Vice President and CFO. Rainer is filling a position that has been vacant since September 2013.
06:52 EDTGMGM JV in China recalls over 38K Cadillac sedans, Reuters says
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06:09 EDTGMVerizon CEO sees self-driving cars 3-5 years away, Detroit News reports
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September 8, 2014
18:21 EDTFCELFuelCell reports Q3 EPS (3c), consensus (3c)
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15:27 EDTFCELNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Casey's General Stores (CASY), consensus $1.24; Korn/Ferry (KFY), consensus 40c; NCI Building (NCS), consensus 9c; Triangle Petroleum (TPLM), consensus 16c; FuelCell Energy (FCEL), consensus (3c); CHC Group (HELI), consensus (47c).
13:26 EDTGMFord falls after two notch downgrade at Morgan Stanley
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13:04 EDTGMAugust vehicle sales drop in Russia, WSJ says
The Association of European Businesses said that the sales of new vehicles in August throughout Russia have dropped at the quickest rate so far in 2014, according to The Wall Street Journal, citing a statement from chairman of the AEB Automobile Manufacturers Committee Joerg Schreiber. Industry officials are anticipating sales in the country for 2014 to decrease another 20% after a 5% decline last year. Publicly traded companies in the automobile industry include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
07:59 EDTGMMorgan Stanley downgrades Auto sector to Cautious, downgrades Ford
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07:14 EDTGMGM board slow to react on safety, NY Times says
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September 7, 2014
20:02 EDTGMGM to introduce hands free Cadillac model in two years, Bloomberg says
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September 5, 2014
18:56 EDTGMGM to install vehicle to vehicle communication to help prevent crashes, WSJ says
General Motors has plans to install vehicle to vehicle communications systems in some car models by 2016, The Wall Street Journal reports. The move comes as regulators and auto manufacturers push to introduce technology that can help prevent vehicle crashes without human intervention. Mary Barra, CEO of General Motors, plans to announce the company's move toward vehicle to vehicle communications systems on Sunday, The Wall Street Journal added, citing people familiar with the matter. Reference Link
13:13 EDTGMU.S. judge dismisses General Motors shareholder lawsuit over IPO, Reuters says
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12:42 EDTGMStocks with increasing options volume
Stocks with increasing options volume: VALE MCP KORS WAG GM PCLN
12:39 EDTGMGM recalls 2002-2004 Saturn Vues due to ignition defect
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08:33 EDTFCELFuelCell awarded $7.5M contract by DOE
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07:09 EDTCOHCoach volatility increases
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06:12 EDTGMMichigan among the states investigating GM recall, Detroit News reports
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