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Stock Market & Financial Investment News

News Breaks
January 3, 2013
12:24 EDTGPS, SONS, GM, ROST, ALLT, SPWR, LTD, FDO, MLNX, F, TJXOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, as the Dow narrowly underperformed the Nasdaq and S&P after yesterday's big run-up. The averages began the session in negative territory, which was not surprising given the gains of the last two sessions, but the economic releases, particularly the ADP employment change report, encouraged investors to drive the indices off their opening lows and back into positive territory near noon... ECONOMIC EVENTS: In the U.S., Challenger, Gray & Christmas said planned job cuts announced in December fell to 32,556, down 43% from November and 22% below December of last year. Payroll processor ADP said private employers added 215K jobs in December, which was up from November's total of 148K and above analyst forecasts for 140K new hires. Weekly jobless claims rose to 372K, versus expectation for an increase to 360K... COMPANY NEWS: Results were mixed among retailers reporting December same-store sales, with Ross Stores (ROST) and TJX (TJX) among those beating consensus and Limited (LTD) one notable name that disappointed. Family Dollar (FDO), in addition to having December SSS growth miss expectations, reported quarterly earnings and revenues below consensus and gave guidance below the Street's view, sending its shares down over 11%... In addition to reporting December SSS up 5%, Gap (GPS) made additional news with the approval of a $1B share buyback and the purchase of multi-brand specialty retailer Intermix for $130M... Increased December vehicle sales were also reported though out the morning, leading shares of both General Motors (GM) and Ford (F) up about 3%... MAJOR MOVERS: Among the notable gainers were SunPower (SPWR), up 35% following an upgrade to Buy at Lazard Capital, and Sonus Networks (SONS), up 10% after Northland Securities said Verizon (VZ) is adding more of Sonus' products on its wire-line side of its business. Among the noteworthy losers were Allot Communications (ALLT), down 23% following a downgrade to Perform at Oppenheimer, and Melanox (MLNX), down 13% after its Q4 revenue warning prompted at least three firms to cut their price targets on its stock... INDICES: Near noon, the Nasdaq was up 5.26, or 0.17%, to 3,117.52; the S&P 500 was up 2.20, or 0.15%, to 1,464.62; and the Dow was virtually up 6.59, or 0.05%, to 13,419.14.
News For GPS;FDO;ROST;TJX;LTD;GM;F;SPWR;SONS;MLNX;ALLT From The Last 14 Days
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January 13, 2015
16:02 EDTFConstellium to supply aluminium structural parts for Ford F150
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13:56 EDTGMGM open to partnering with Google on self-driving cars, Time says
GM (GM) would be open to having a discussion with Google (GOOG) about jointly developing self-driving cars, GM Chief Technology Officer Jon Lauckner said, according to Time Magazine. Reference Link
10:00 EDTSPWROn The Fly: Analyst Upgrade Summary
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09:07 EDTSPWROn The Fly: Pre-market Movers
HIGHER: Apple (AAPL), up 1.4% after Credit Suisse upgraded Apple to Outperform and raised its iPhone volume estimates again... Best Buy (BBY), up 2.8% after being upgraded to Buy from Neutral at Goldman... SunPower (SPWR), up 2.6% after being upgraded to Outperform at Credit Suisse... Alcoa (AA), up 2% after Q4 results beat expectations. RISING AFTER GUIDANCE: Pharmacyclics (PCYC), up 17.5%... CTI BioPharma (CTIC), up 8.3%... Emulex (ELX), up 15.5%... ARIAD (ARIA), up 2.6%. LOWER: ChannelAdvisor (ECOM), down 42% following preliminary fourth quarter revenue guidance and after receiving multiple analyst downgrades... Antares Pharma (ATRS), down 7.7% after the FDA recommended that the company create a larger safety database for its clinical development program for QuickShot Testosterone.
07:33 EDTSPWRSunPower upgraded to Outperform following sell-off at Credit Suisse
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07:30 EDTFDeutsche Bank to hold a conference
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07:25 EDTF, GMNew NHTSA head says 2015 may see more recalls than record-setting 2014, WSJ says
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06:39 EDTSPWRSunPower upgraded to Outperform from Neutral at Credit Suisse
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January 12, 2015
17:01 EDTFDOFred's names Michael Bloom COO
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14:36 EDTGMGeneral Motors to spend $12B to launch new Cadillac models, Bloomberg says
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11:58 EDTGMAlly Financial could see 20% of originations hit by GM changes, says Jefferies
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11:05 EDTGMGM receives 141 more claims for faulty ignition switch compensation, Reuters say
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09:26 EDTLTDUBS events at 17th Annual ICR XChange Conference
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09:20 EDTFFord announces new collaboration with DowAksa for automotive carbon fiber
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06:24 EDTGMGM plans to use lending arm for subsized leases in the U.S., WSJ reports
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06:20 EDTFFord expected to debut Phoenix super car today, WSJ reports
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06:18 EDTFDOFamily Dollar sends letter to stockholders on proposed merger with Dollar Tree
Family Dollar (FDO), in a letter to its stockholders, explains the recommendation of the board that stockholders vote "FOR" the merger with Dollar Tree (DLTR). In the letter, Family Dollar CEO Howard Levine said, "I wanted to provide complete transparency to you regarding the most recent feedback that we have received from the FTC staff, which reaffirms the statements that we have been making for several months now about the inability of the Dollar General proposal to be consummated on the terms proposed by Dollar General and the certainty of the Dollar Tree merger... This existing economic analysis by the FTC will be refined in certain respects, but we see no basis to believe that, taken together, these refinements will result in a final divestiture number anywhere near the 1,500 stores that Dollar General has offered to divest. Importantly, the 3,500 to 4,000 store range does not include many additional divestitures that likely will be triggered by the well over 1,000 additional new or planned Dollar General and Family Dollar stores. The FTC staff plans to incorporate these stores into the same economic analysis, which will create new overlaps and exacerbate existing overlaps that have not yet created presumptions of requirements to divest. Going in the other direction, the FTC will incorporate into its economic analysis a modest number of competitorsí additional new or planned stores. We expect that the net impact of these two changes will be an increase in the store count... With respect to timing, in light of the thousands of stores at issue, we expect that the definitive number of divestitures that the FTC will actually require is not likely to be known by Family Dollar or Dollar General for several months... We expect Dollar Tree to continue to make rapid progress in completing the antitrust clearance process pursuant to its binding undertakings in the merger agreement, including its covenant to divest as many stores as necessary or advisable to obtain such clearance. In sum, antitrust clearance of the Dollar Tree merger on its terms and in a timely manner is a virtual certainty."
06:04 EDTFDODollar Tree provides update on FTC review of Family Dollar acquisition
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January 11, 2015
20:52 EDTGMGM Opel unit to build Buick models to sell in U.S., Reuters says
General Motors will announce that its Opel unit will manufacture a Buick version of the Opel Cascada for sale in the U.S., reports Reuters. Reference Link
17:59 EDTGMGeneral Motors plans to launch $30K EV rival to Tesla, WSJ says
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