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Stock Market & Financial Investment News

News Breaks
March 18, 2014
09:13 EDTGME, SFLY, YGE, HDY, FF, GALE, HPQ, RNA, HTZ, WMT, KIOROn The Fly: Pre-market Movers
UP AFTER EARNINGS: FutureFuel (FF), up 21%. ALSO HIGHER: Prosensa Holding (RNA), up 20% after reporting results from a Phase II trial of drisapersen for the treatment of Duchenne Muscular Dystrophy... Hyperdynamics (HDY), up 12% after announcing it wishes to recommence drilling plans of an exploratory well offshore Guinea... Yandex (YNDX), up 4% after reported acquisition of KitLocate... HP (HPQ), up 1.8% following upgrade to Overweight at Barclays. DOWN AFTER EARNINGS: Yingli Green Energy (YGE), down 7%. ALSO LOWER: Hertz (HTZ), down 1%, after earnings report, new $1B share repurchase program, confirming approval for separation of equipment rental business... Galena Biopharma (GALE), down 15.8% after disclosing an SEC investigation into the company related to an outside investor relations firm retained in 2013... GameStop (GME), down 5% after Wal-Mart (WMT) announces used videogame trade-in program... Shutterfly (SFLY), down 6.5% after downgrade at Cowen... KiOR (KIOR), down 44% after saying it has "substantial doubts" about ability to continue as going concern.
News For GME;WMT;HTZ;RNA;HPQ;GALE;FF;HDY;YGE;SFLY;KIOR From The Last 14 Days
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October 24, 2014
10:09 EDTHPQHP calls amid speculation Icahn has taken a stake
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09:48 EDTHPQRumor: HP moves up amid spculation Icahn has taken a stake
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06:38 EDTYGEEU sets emissions, renewable energy targets, NY Times says
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October 23, 2014
13:40 EDTWMTWal-Mart's Sam's Club offering services to small businesses
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October 22, 2014
14:08 EDTGALEGalena files to sell 2M shares of common stock for holders
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13:11 EDTHPQFirm says Chromebook shipments surged 67% in Q2
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09:50 EDTWMTCredit Suisse to hold a field trip
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09:15 EDTHPQEMC says will not comment on 'speculation, rumors' of talks with Hewlett-Packard
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October 21, 2014
14:39 EDTHPQHP to unveil 'Sprout' computer with projector, 3D scanner, Re/code reports
HP (HPQ) will unveil a new computing product it is calling "Sprout," which combines a large display with a flat touch-enabled work surface and an overhead assembly combining a projector and a 3-D scanner, at an event next week, reported Re/code, citing sources familiar with the plans. Sprout will be one of several products demonstrated at the event, the report added. Microvision (MVIS) develops high-resolution miniature laser display and imaging engines, though the company is not mentioned anywhere within Re/Code's report. Reference Link
14:34 EDTHPQEarnings Preview: EMC reports after HPQ merger talks said to end
EMC Corporation (EMC) is expected to report third quarter earnings before the bell on Wednesday, October 22, with a conference call scheduled for 8:30 am ET. EMC provides software, hardware and IT services to business customers through its three federated businesses: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure, which is represented by EMC’s majority equity stake in VMware (VMW). VMware is expected to report on its own third quarter results after the bell on Tuesday, October 21, with a conference call scheduled for 5:00 pm ET. EXPECTATIONS: For EMC, analysts are looking for earnings per share of 46c on revenue of $6.0B. The consensus range is 44c-49c for EPS and $5.91B-$6.16B for revenue, according to First Call. Along with its last earnings report, EMC raised its FY14 adjusted EPS view to $1.91 from $1.90 and guided to FY14 revenues of $24.58B. Analysts consensus for FY14 EPS and revenue currently stand at $1.91 and $24.55B. For VMware, analysts are looking for earnings per share of 83c on revenue of $1.5B. The consensus range is 81c-85c for EPS and $1.48B-$1.52B for revenue, according to First Call. LAST QUARTER: EMC reported Q2 adjusted EPS of 43c, which matched the consensus expectation. EMC's revenue of $5.9B came in slightly ahead of the $5.83B consensus projection. EMC also accelerated its 2014 share buyback plan, stating that it now expects to repurchase an aggregate of $3B of the company's common stock in 2014. VMware reported Q2 EPS of 81c, versus consensus of 79c, on revenue $1.46B, versus consensus of $1.44B. NEWS: VMware held its "VMWorld 2014" conference from August 24-28, during which the company updated its 2015 guidance. VMware's guidance for revenue growth in the mid teens percentage level and margin expansion of up to one percentage point is positive, RBC Capital analyst Matthew Hedberg wrote in a note to investors on August 26. The same day Cowen analyst Gregg Moskowitz wrote that VMware's FY15 revenue guidance would "likely weigh modestly" on the stock, even though he was not surprised by the outlook. Less than two weeks ago, Elliott Management sent a letter to the board of directors of EMC Corporation detailing its recommendations on the right path forward for EMC, in which Elliott holds a stake. Elliott believes that EMC’s Federation structure obscures enormous value at the company and that the board and management should pursue pathways to recognize this value, including a separation of VMware from Core EMC and/or various M&A opportunities, Elliott wrote. In response, EMC said its directors regularly review and evaluate the company's strategy with a view towards enhancing shareholder value. "Over the past few months, EMC's leadership has met with representatives of Elliott several times and has listened carefully to their ideas, as we do with all of our shareholders," the company said. Last week, HP (HPQ) announced the resumption of its share repurchase program after Reuters reported the company's merger talks with EMC had ended. HP had suspended the buyback program due to "possession of material non-public information." The tech giant said that day that it is "no longer in possession of such information." During September, Re/code reported, citing sources familiar with Oracle's plans, that the company was not interested in acquiring EMC. Meanwhile, Cisco (CSCO) CEO John Chambers also said last month at a Wall Street Journal breakfast that his company is not among the potential merger partners for EMC. Chambers said a deal between the two companies would have been done a "year or two ago" were it to happen, according to Reuters. STREET RESEARCH: On the day after its last earnings report, Brean Capital raised its price target on EMC to $33 from $30, citing the company's aggressive capital return strategy, encouraging core Storage dynamics and potential pent up demand. Tigress Financial, however, downgraded EMC to Buy from Strong Buy, citing valuation. Additionally, VMware estimated that its total available market would reach more than $60B in 2017, versus its estimate last year of a $50B+ total addressable market by 2016, Moskowitz noted. PRICE ACTION: In afternoon trading, EMC shares are up 1% to $27.22, while VMware is fractionally higher at $87.79. Over the last three months, EMC shares have declined almost 4%, while VMware's stock is down about 5.5% in that same time frame.
14:09 EDTHTZThird Point discloses new positions in eBay, Alibaba, exit from Sony
In its Q3 investor letter, Third Point says it established a "significant" position in eBay (EBAY). Dan Loeb's hedge fund also revealed it has established a significant direct investment in Alibaba (BABA) shares now that the company is public. Third Point also said it is now one of Amgen's (AMGN) largest shareholders. During the quarter, Third Point exited its position in Sony (SNE) and reduced or exited other positions, including AIG (AIG), Hertz (HTZ) and Softbank (SFTBF), the firm stated in its letter. PRICE ACTION: Following the disclosures in the Third Point letter, Amgen is up 4%, eBay is up 2.3% and Alibaba is up 3.8%, while Sony shares trading in New York are down nearly 1%.
11:02 EDTHTZHertz, United Airlines upgrade partnership
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09:07 EDTHPQFlextronics appoints Michael Mendenhall as Chief Marketing Officer
Flextronics (FLEX) announced that Michael Mendenhall has been appointed to lead the Company's worldwide marketing, branding and communications initiatives. Mendenhall most recently served as the Executive Vice President and Chief Marketing and Communications Officer for Fusion-io. In this role, he was responsible for repositioning the Company's brand and products and played a key role in its successful acquisition by SanDisk (SNDK). Previously, he served as Senior Vice President and Chief Marketing Officer for HP (HPQ) and directed all aspects of corporate marketing operations globally.
08:12 EDTHTZNissan selects Hertz as exclusive mobility partner
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06:11 EDTYGEYingli Green Energy surpasses 2,000 MW of solar panel deliveries in Americas
Yingli Green Energy announced that it has surpassed two gigawatts of cumulative solar panel deliveries in the Americas. The more than 6M Yingli Solar panels delivered are now generating electricity for more than 85,000 solar projects across the region. Yingli estimates that more than 80,000 homes and 5,000 business and institutions in the Americas are energized by its high-quality solar panels. Its most popular product line, the YGE 60 Cell Series, is a versatile multicyrstalline solar panel suited for most solar applications, from off-grid systems to large-scale utility projects. Since early 2013, Yingli has deployed more than 150 megawatts of its high-performing solar panels Latin America and the Caribbean, becoming a leader in the region in fewer than six quarters.
October 20, 2014
12:09 EDTHPQIBM hits 52 week low after earnings miss, 2015 profit target dropped
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10:25 EDTHPQIBM CEO says company already has been aggressive on changing
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08:58 EDTHTZJana Partners reports 7% stake in Hertz, says may engage in talks
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07:42 EDTWMTWal-Mart de Mexico reports Q3 net income 4.87B pesos vs. 5.12B pesos last year
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06:50 EDTRNAProsensa upgraded to Overweight from Underweight at JPMorgan
JPMorgan upgraded Prosensa two notches to Overweight citing a favorable risk/reward around the potential approval of Drisapersen for Duchenne muscular dystrophy. The firm believes regulatory risk for the drug has been significantly reduced in both the U.S. and Europe. JPMorgan raised its price target for shares to $18 from $4.40.
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