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Stock Market & Financial Investment News

News Breaks
June 30, 2014
12:30 EDTTWGP, BABA, MNKD, YHOO, MBI, FOLD, GMOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, as they have been for most of the session. There were short stretches this morning when the averages were either all positive or all negative, but they all remained in a narrow trading range following the worse than expected Chicago-area manufacturing report and the better than expected pending home sales data. Investors are already on watch for the monthly jobs report, which is scheduled for release on Thursday due to the holiday-shortened calendar. ECONOMIC EVENTS: In the U.S., the Chicago ISM manufacturing index dipped more than expected to 62.6 in June from the seven-month high reading of 65.5 it hit last month. An index of pending home sales in May climbed 6.1%, soundly beating expectations and representing its biggest advance in more than four years. In Europe, the shared currency zone's annual rate of inflation was unchanged at 0.5% in June, while bank lending to the private sector, including both households and businesses, declined in May. COMPANY NEWS: Compensation expert Ken Feinberg unveiled the awaited settlement plan to compensate victims in accidents involving General Motors vehicles with defective ignition switches. Under the program, Feinberg will provide compensation ranging from $20,000 to several million dollars to anyone who can show they were hurt in a crash involving cars GM has recalled, with no limit, but a key condition is that the claimants show the vehicle's air bags didn't deploy in the crash... Yahoo (YHOO) rose 2% after Piper Jaffray analyst Gene Munster upgraded his rating on Yahoo (YHOO) shares to Overweight from Neutral saying the company's stake in Alibaba (BABA) is undervalued at current levels. Munster expects shares to move higher as Alibaba's initial public offering nears and raised his price target for Yahoo shares to $43 from $37. MAJOR MOVERS: Among the notable gainers was Amicus Therapeutics (FOLD), which jumped 25% after the company provided updates and detailed the statistical analysis plan for its second Phase 3 study of its potential monotherapy for Fabry patients and its stock was upgraded to Overweight at JPMorgan. Also higher was MannKind (MNKD), which rose 11% to regain all of the 5.5% that it had lost Friday after the FDA approved its Afrezza inhalation powder to treat diabetes but required the drug to have a Boxed Warning and required the company to conduct several post-marketing studies on the drug. RBC Capital thinks most of the label, including its warnings, are as expected, while Brinson Patrick raised its price target for MannKind shares to $15 and said the labeling, REMS program, and post-marketing requirements exceeded its expectations. Among the noteworthy losers was Tower Group (TWGP), which dropped 11% after disclosing that representatives of ACP Re have suggested that an unwaived insolvency event has or may have occurred under the companies' merger agreement, though Tower said it does not believe that any such event has occurred. Also lower were shares of MBIA (MBI), which fell 4% after the stock was downgraded to Neutral from Buy at BTIG. INDEXES: Near midday, the Dow was down 10.23, or 0.06%, to 16,841.61, the Nasdaq was up 11.30, or 0.26%, to 4,409.23, and the S&P 500 was up 0.67, or 0.03%, to 1,961.63.
News For GM;YHOO;BABA;FOLD;MNKD;TWGP;MBI From The Last 14 Days
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November 17, 2014
06:07 EDTGMDeadline extended for GM compensation claims, AP reports
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November 16, 2014
14:53 EDTFOLDAmicus announces positive data from Fabry monotherapy study
Amicus Therapeutics announced additional positive data on important secondary endpoints from its second Phase 3 study of the oral small molecule chaperone migalastat HCl for Fabry disease. In a poster1 at the American Society of Nephrology Kidney Week 2014, results were presented from Fabry patients with amenable mutations in Study 012 who switched from standard of care enzyme replacement therapy, ERT, to migalastat as their only therapy for Fabry disease. Data from the Fabry Registry indicate that the leading cause of death in patients is from cardiac complications2. In Study 012, patients who switched from ERT to migalastat showed a statistically significant decrease from baseline to month 18 in left ventricular mass index-LVMi. LVMi is a measure of cardiac hypertrophy, an increase in the size of the heart that has been associated with an increased risk of cardiac events in Fabry patients."Cardiac disease represents a major cause of morbidity and mortality in Fabry patients that is not adequately addressed with currently available treatment," said Professor Ales Linhart, MD, PhD, a leading expert in the cardiac manifestations of Fabry disease from Charles University of Prague. "The data showing further regression of left ventricular mass in patients switched from ERT to migalastat in this study are very promising since in other cardiac conditions a reduction of cardiac mass typically translates to significant improvements in long term outcomes."
November 14, 2014
17:27 EDTBABAPaulson & Co. gives quarterly update on stakes
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17:13 EDTGM, BABAAppaloosa gives quarterly update on stakes
NEW STAKES: NXP Semiconductors (NXPI), Lorillard (LO), Alibaba (BABA), and Shire (SHPG). INCREASED STAKES: Whirlpool (WHR), Priceline (PCLN), Delta (DAL), CBS (CBS), and General Motors (GM). DECREASED STAKES: American Airlines (AAL), Disney (DIS), Apple (AAPL), MGM Resorts (MGM), and Eastman Chemical (EMN). LIQUIDATED STAKES: Expedia (EXPE), AIG (AIG), Prudential (PRU), Celanese (CE), and ASML Holding (ASML).
17:07 EDTBABA, YHOOSoros Fund Management gives quarterly update on stakes
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16:58 EDTBABAThird Point gives quarterly update on stakes
NEW STAKES: Alibaba (BABA), eBay (EBAY), Bed Bath & Beyond (BBBY), Shire (SHPG), and Parker Hannifin (PH). INCREASED STAKES: Actavis (ACT), Amgen (AMGN), EQT (EQT), Sensata (ST), Coca-Cola Enterprises (CCE). DECREASED STAKES: Williams Cos (WMB), Ally Financial (ALLY), Cheniere Energy (LNG), YPF (YPF), and FedEx (FDX). LIQUIDATED STAKES: AIG (AIG), T-Mobile (TMUS), Rackspace (RAX), Hertz (HTZ), and Citrix Systems (CTXS).
16:39 EDTGMBerkshire Hathaway gives quarterly update on stakes
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16:26 EDTBABANasdaq clear leader as major averages end week higher
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13:03 EDTYHOO, BABAYahoo rises after analysts boost targets
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11:27 EDTBABAAkamai hits highs of day amid takeover speculation
The move higher in shares of Akamai (AKAM) is being attributed to takeover speculation. The suitor rumored to be interested is Alibaba (BABA). Shares of Akamai are at highs of the day, up 3% to $62.00.
10:26 EDTBABAAlibaba may be topping on a short-term basis, levels to watch
The $115 area has been support for the last several sessions. In context, those sessions now appear to show something of a topping pattern centered around that level. With the break below $115, a short-term top looks likely to be in progress. Next support below the current price of $114.37 is at $111.70 and then at $106.07. Resistance is at $115 and then $117.27.
09:38 EDTBABAJANA Partners gives quarterly update on stakes
NEW STAKES: AMD (AMD), AECOM Technology (ACM), Alibaba (BABA), McDonald's (MCD), Amgen (AMGN), Gaming and Leisure Properties (GLPI), Iron Mountain (IRM), iRobot (IRBT), Seadrill Partners (SDLP), Valeant (VRX). INCREASED STAKES: eBay (EBAY), Charter (CHTR), Groupon (GRPN), HD Supply (HDS), Hertz (HTZ). DECREASED STAKES: Apache (APA). LIQUIDATED STAKES: CBS (CBS), Endo (ENDP), FMC Corporation (FMC), SeaWorld (SEAS), SunEdison (SUNE).
08:25 EDTBABA, YHOOYahoo price target raised to $61 from $49 at Oppenheimer
Oppenheimer increased its price target on Yahoo (YHOO) as the firm raised its valuation of Alibaba (BABA) to $324B from $275B. The firm keeps an Outperform rating on Yahoo.
08:21 EDTYHOOYahoo price target raised to $60 from $50 at FBR Capital
FBR Capital raised its price target for Yahoo (YHOO) shares to $60 to reflect Alibaba (BABA) stock appreciation. FBR says Yahoo offers a lower-cost play on Alibaba with the potential for improved core Yahoo performance. It keeps an Outperform rating on the stock.
07:32 EDTGMHayman Capital gives quarterly update on stakes
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06:03 EDTBABAAlibaba plans to raise up to $8B in bond offering, Bloomberg reports
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November 13, 2014
11:06 EDTBABAStocks with call strike movement; BABA PBR
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09:40 EDTBABAActive equity options trading
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07:38 EDTYHOOBloomberg Link to hold a conference
The Year Ahead: 2015 is being held in Washington, D.C. with a pre-conference dinner on November 13 followed by company presentations on November 14,
06:24 EDTGMHeidrick & Struggles picked by GM to find new general counsel, WSJ reports
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