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Stock Market & Financial Investment News

News Breaks
February 7, 2013
10:01 EDTMLNX, FIO, ABBV, PFE, SYRG, VRTX, VCLK, RBCN, TRLA, OPTR, FLY, DLA, GOOGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Delta Apparel (DLA) initiated with a Buy at Roth Capital... Fly Leasing (FLY) initiated with a Buy at Deutsche Bank... Google (GOOG) initiated with a Neutral at Sterne Agee... Optimer (OPTR) initiated with an Outperform at RW Baird... Trulia (TRLA) initiated with a Neutral at Goldman... ValueClick (VCLK) initiated with a Buy at Goldman... Vertex (VRTX) initiated with an Outperform at RW Baird... Rubicon (RBCN) coverage resumed with an Underweight at Piper Jaffray... Synergy Resources (SYRG) initiated with a Buy at Canaccord... Pfizer (PFE) reinstated with a Neutral at Credit Suisse... AbbVie (ABBV) initiated with a Neutral at Credit Suisse... Fusion-io (FIO) initiated with a Neutral at Janney Capital... Mellanox (MLNX) initiated with a Buy at Janney Capital.
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August 7, 2014
16:00 EDTRBCNRubicon trading halted, pending news
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09:30 EDTDLADelta Apparel downgraded to Neutral from Buy at Sidoti
09:06 EDTFLYFly Leasing acquires two more aircraft
FLY Leasing has acquired a Boeing 737-800 to be leased to a leading airline in North America and an Airbus A330-300 on lease to a leading airline in Asia. The Airbus aircraft is the first of three A330s that FLY is acquiring in a sale and leaseback transaction with the Asian airline.
08:12 EDTPFEPfizer says EMA accpets application seeking new indication for Prevenar 13
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06:36 EDTGOOGGoogle, Barnes & Noble launching same-day book delivery service, NY Times says
Google (GOOG) and Barnes & Noble (BKS) today will begin allowing consumers in three cities to order books carried by Barnes & Noble stores and have them delivered to their homes on the same day, according to The New York Times. Users will order the books on Google Shopping Express, and the service will compete with Amazon, the newspaper stated. Reference Link
06:13 EDTGOOGGoogle to boost encrypted websites in rankings
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August 6, 2014
17:28 EDTTRLAZillow reports 6.2% stake in Trulia
17:22 EDTFLYFly Leasing files $1B mixed securities shelf
16:47 EDTDLADelta Apparel announces strategic reorganization to improve profitability
Responding to its financial performance and near-term view of business conditions, the company has initiated a reorganization of its administrative structure at all levels to streamline decision-making and information flow as well as reduce duplicative and excess fixed costs. The reorganization should result in approximately $7M of annualized savings for the company, with approximately $5M recognized in fiscal year 2015. The company expects to incur about $2.5M in severance-related expenses, with the majority being expensed in the company’s 2014 fourth quarter. In addition, the company is currently evaluating other initiatives focused on improving net profitability in the face of continued marketplace weakness. These other initiatives include (i) restructuring the company’s manufacturing platform to lower product cost and strategically reduce capacity on certain product lines, and (ii) a comprehensive rationalization of all business units, product lines and sales channels.
16:46 EDTDLADelta Apparel reports Q3 EPS 27c, consensus 62c
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15:39 EDTGOOGYouTube buys mobile-video startup Directr
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13:04 EDTGOOGGoogle acquires mobile messaging application Emu
Google has acquired Emu, Emu announced on its website. "As of August 25, we’ll be shutting down the Emu app. It will no longer be available in the App Store, and existing users won’t be able to send, receive, or download messages." Financial terms of the deal have not been disclosed. Reference Link
12:59 EDTABBVCovidien drops as Treasury explores ways to stymie inversions
Shares of medical device and drug maker Covidien (COV) are falling after multiple media outlets reported that the Treasury Department is looking into ways of curtailing tax inversion deals. Covidien has agreed to be acquired by Medtronic (MDT) in a tax inversion deal. BACKGROUND: Tax inversions refer to an acquisition of one company, usually officially based in a country in Europe or elsewhere, by a U.S. company, following which the acquiring company becomes domiciled in the same country as the company that it bought. The switch has the potential to significantly lower the acquiring company's tax rate. WHAT'S NEW: The Treasury Department is looking at options that would enable the Obama administration to curtail inversion deals without authorization from Congress, multiple media outlets reported last night and today. ANALYST REACTION: In a note to investors today, Wells Fargo analyst Larry Biegelsen wrote that he believes that Medtronic would buy Covidien even if the transaction cannot be done as an inversion. At a conference in June, Medtronic CFO Gary Ellis said that his company would "do the deal whether it's an inversion or not inversion," Biegelsen stated. If no inversion is possible, Medtronic would respond by using less of its stock and more debt to fund the transaction, the analyst believes. Such a change would actually cause Medtronic's cash earnings per share to be higher in the first and second year after the deal than under the current structure, the analyst indicated. He kept an Outperform rating on Medtronic. PRICE ACTION: In early afternoon trading, Covidien dropped 2% to $84.50 and Medtronic fell 1% to $61.50. Meanwhile, drug maker Shire (SHPG), which has agreed to merge with its peer AbbVie (ABBV) in a tax inversion deal, is falling 4% to $236.
12:10 EDTPFEPfizer settles multi-state complaint on improper promotion of Rapamune
Attorney General Eric T. Schneiderman announced that he, along with 40 other state Attorneys General and the District of Columbia, reached a $35M settlement with Pfizer arising from alleged improper marketing and promotion of the immunosuppressive drug Rapamune. New York’s share of the settlement is over $1.7M. Pfizer, as parent of Wyeth Pharmaceuticals, agrees to be bound by the judgment and to resolve allegations that Wyeth unlawfully promoted Rapamune. Attorney General Schneiderman’s office served on the Executive Committee of this multi-state investigation. Reference Link
08:48 EDTTRLADeutsche remains cautious on shares of Zillow
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08:40 EDTABBVShire drops 5% with tax inversions in focus
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07:49 EDTGOOGcomScore price target raised to $44 from $40 at Brean Capital
Brean Capital raised its price target on comScore (SCOR) to $44 from $40 as they believe the company is well positioned for an acceleration in fundamentals. The firm expects its recent years of investment to impact their online business as the integration of Yahoo (YHOO) vCE is up and running and Google (GOOG) is expected to be completed by the end of Q3, leading to an acceleration of top line growth. Brean maintains its Buy rating on comScore.
06:23 EDTPFEMitsubishi UFJ to hold a conference
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06:21 EDTPFEPiper Jaffray to hold a summit
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06:17 EDTGOOGAlibaba courting Nokia employees on website, WSJ reports
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