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Stock Market & Financial Investment News

News Breaks
April 17, 2014
12:53 EDTMU, PM, DD, AXP, GOOG, WLP, ADS, MS, GS, SNDK, AET, BHI, UNH, GE, IBMOn The Fly: Midday Wrap
Stocks on Wall Street were mixed but near the flat-line at midday as investors sifted through a barrage of earnings reports from some of the world's biggest companies. Stock futures were pointing to a lower open in the early hours of the morning following last night's misses by two of the biggest names in tech. However, the futures moved off their lows as some other corporate giants reported better than expected earnings and weekly jobless claims also positively surprised, though the broader market opened slightly lower. The averages have managed to pare their losses throughout the morning and turn mixed. The market is on track to have it best weekly performance since last year if it can hold near current levels into the close. ECONOMIC EVENTS: In the U.S., initial jobless claims edged up 2K to 304K in the week ended April 12, though that was below the consensus 315K forecast of economists. The Philly Fed manufacturing index climbed to 16.6, beating expectations for a more modest uptick to 10.0. COMPANY NEWS: Two of the biggest names in technology, Google (GOOG) and IBM (IBM), both reported revenue that missed expectations last night, which weighed on both of their stocks. Google, which also missed expectations for earnings per share, slid over 4% near noon, while shares of IBM were down over 3%... In addition to IBM, five other Dow components reported on their just ended quarters: General Electric (GE), which rose over 2%, UnitedHealth (UNH), which declined more than 3.5%, American Express (AXP), which slid about 2%, DuPont (DD), which fell 1%, and Goldman Sachs (GS), whose shares were little changed near midday... Among the many other companies that reported after last night's closing bell and this morning's open, Baker Hughes (BHI) and Morgan Stanley (MS) advanced, while Phillip Morris International (PM) and Alliance Data Systems (ADS) declined. MAJOR MOVERS: Among the notable gainers was SanDisk (SNDK), which advanced 10% after the company's quarterly results topped analysts' consensus estimates and the company raised its adjusted gross margin outlook. SanDisk peer Micron (MU), which issued its own quarterly report two weeks ago today, also rose 5%. Among the noteworthy losers were a number of health insurers following the quarterly report from UnitedHealth, which is the largest company in the sector. Shares of peer WellPoint (WLP) slid almost 4%, while Aetna (AET) fell 3%. INDEXES: Near midday, the Dow was down 7.07, or 0.04%, to 16,417.78, the Nasdaq was up 8.54, or 0.21%, to 4,094.76, and the S&P 500 was up 2.20, or 0.12%, to 1,864.51.
News For GOOG;IBM;SNDK;AXP;GE;GS;DD;UNH;MS;PM;BHI;ADS;MU;AET;WLP From The Last 14 Days
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June 22, 2015
09:14 EDTMUOn The Fly: Pre-market Movers
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08:31 EDTAXPGlobal Payments to roll out OptBlue program for AmEx card acceptance in Canada
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08:16 EDTAETAnthem, Cigna deal would be negative for Catamaran, says Leerink
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08:09 EDTGEGeneral Electric 2018 EPS should surpass $2, says Bernstein
After meeting with GE's CFO, Bernstein predicts that the company's 2018 EPS will surpass the $2 it says is often cited as a target for the company. The firm says that synergies with Alstom appear to be progressing well, while its gross margin initiatives are also progressing. Bernstein says that GE is making progress on many fronts. It keeps an Outperform rating on the stock.
08:02 EDTGOOGTransphorm announces new $70M investment led by KKR
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07:54 EDTAETAnthem, Cigna deal likely to be consummated, says Leerink
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07:31 EDTGOOGFacebook catching up to YouTube in video ads, Reuters says
Facebook (FB) is gaining market share on Google's (GOOG) YouTube in online video advertising, reports Reuters, citing a published Ampere Analysis report. Reference Link
07:16 EDTAETAnthem should be bought after Cigna offer, says Stifel
After Anthem, (ANTM) offered to buy Cigna (CI) and the latter company rejected the bid, Stifel estimates that the deal would have been 10% accretive for Anthem in the first year and 20% accretive in the second year. The firm thinks that accretion from the deal will probably be higher than expected. It also recommends buying Aetna (AET) as it believes that the Anthem offer suggests that Aetna will benefit more than expected from its own deal. The firm is cautious on Humana (HUM), saying that it may lose two potential buyers in Anthem and Cigna, while Humana may retreat if Aetna does not acquire the company quickly.
07:02 EDTMUMicron price target lowered to $33 from $37 at JPMorgan
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06:51 EDTAET, UNHHealth insurer tie-ups could cut competition, WSJ reports
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06:37 EDTAET, UNHHealth insurers may change policies based on King v. Burwell ruling, NYT says
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06:18 EDTGESuppliers worried about Airbus, Boeing production rate hike, Reuters reports
Major engine suppliers, including General Electric (GE) and Safran, are becoming worried that they may lose out if they invest to meet higher commercial jet production targets from Airbus (EADSY) and Boeing (BA) that may prove unsustainable, Reuters reports. Airbus and Boeing have plans to raise production rates of their best selling single aisle planes by 25% to 50-52 a month in 2017-2018, the report says. Suppliers have said that they need to secure the start of a steep rise in output before making a commitment to even loftier targets, the report says. Reference Link
06:15 EDTMUMicron initiated with an Outperform at Cowen
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06:14 EDTDDChemours initiated with a Buy at Jefferies
Target $24. The DuPont (DD) Chemicals segment spinoff is trading when-issued until July 1.
05:39 EDTIBMNidec, IBM Japan to jointly develop IoT Technology
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05:34 EDTSNDKSanDisk upgraded to Buy from Hold at Summit Research
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05:31 EDTMUMicron downgraded to Sell from Neutral at Goldman
Goldman Sachs analyst Mark Delaney downgraded Micron Technology to Sell saying rising DRAM supply will lower selling prices and contract margins. Delaney expects DRAM prices to drop up to 30% over the next three quarters and cut his price target for shares to $19 from $27. The semiconductor provider closed Friday at $24.47.
05:13 EDTGEGeneral Electric, unions reach tentative agreement on new contracts
General Electric reached tentative agreements on new labor contracts with national leaders of its two largest unions, the IUE-CWA and the United Electrical, Radio and Machine Workers of America, or UE, after three weeks of negotiations. The agreements are now subject to review by union negotiating committees and ratification by union members. GEs existing four-year national contracts with the IUE-CWA and the UE expire at midnight. The four-year job packages provide improvements in healthcare, wages, pension and job and income security. The contract provisions will also be extended to additional unions that have local contracts with GE.
June 21, 2015
16:03 EDTAET, UNHAetna makes offer to acquire Humana, WSJ says
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14:49 EDTGOOGRaven shares may rally in next couple years, Barron's says
The recent selloff in Raven (RAVN) shares "looks like an opportunity," and the company's stock could rally over the next couple years, Barron's contends in its 'Sizing Up Small Caps' column. Barron's notes that the company has partnered with Google (GOOG) to develop high-altitude balloons for the experimental Project Loon, which, if expanded into a full project, could signal a boost for Raven. Reference Link
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