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Stock Market & Financial Investment News

News Breaks
January 3, 2013
12:24 EDTMLNX, F, TJX, GPS, SONS, GM, ROST, ALLT, SPWR, LTD, FDOOn 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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March 24, 2015
07:32 EDTSONSSonus initiates company-wide review of cost structure
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07:32 EDTSONSSonus cuts Q1 EPS view to (34c)-(29c) from 3c
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07:31 EDTSONSSonus cuts Q1 revenue view to $47M-$50M from $74M
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06:18 EDTGMGM to build next-gen Chevrolet Cruze in Coahuila, Mexico, Reuters reports
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06:12 EDTGM, FFord, GM considering asking for lower-paid workers, Bloomberg says
Ford (F) and General Motors (GM) are considering asking the United Auto Workers union to create a lower-pay tier of employee at U.S. auto factories, reports Bloomberg, citing people familiar with the matter. The union, on the other hand, is considering eliminating the existing tier structure altogether, according to a person familiar with the union leadership. The proposed lower tier worker would not assemble cars, said the sources. Reference Link
March 23, 2015
12:55 EDTSONSFollow-up: Sonus downgraded at Wedbush
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12:41 EDTSONSSonus downgraded to Neutral from Outperform at Wedbush
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11:11 EDTGMGM ignition switch death claims rises to 74, WSJ reports
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07:37 EDTGMVolkswagen to cut at least 150 workers at Russian plant, Reuters reports
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March 20, 2015
08:01 EDTF, GMStifel says evidence supports Apple moving into electric vehicles
Analysts at Stifel say they see enough evidence to suggest that Apple is internally working on the development of a battery electric vehicle to be sold over the next five-to-ten years. The analysts are "intrigued" by Apple CFO Luca Maestri's background at General Motors (GM). They believe Apple's investments in manufacturing should be a key consideration for investors and point out the $40B spent by the iPhone maker over the past five years, with 80%-plus invested in manufacturing, is similar to GM, Ford (F) and Daimler-Benz and well above Tesla's $1.8B cumulative capex. The analysts say there is a "lot to think about" regarding Apple's move into the car space, including the regulatory environment. They keep a Buy rating on the tech giant with a $150 price target. Shares of Apple closed yesterday down 97c to $127.50.
07:24 EDTMLNXBroadcom chip renews competition with in-house hardware makers, WSJ says
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06:55 EDTSPWRU.S. delegates to work with China on environmental issues, China Daily says
The U.S. government is sending several high-level representatives to China in an effort to advance cooperation on energy, the environment and climate change, China Daily reported yesterday. The two countries signed a major climate change deal in November, the newspaper noted. Publicly traded companies in the solar energy space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). Reference Link
06:22 EDTGMGM CEO to be questioned October 8 over ignition failures, AP says
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March 18, 2015
08:37 EDTGMGeneral Motors says to change business model in Russia
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08:36 EDTGMGeneral Motors says to idle auto plant in St. Petersburg
07:03 EDTSONSSonus transitions enterprises to Microsoft Skype for business
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March 17, 2015
14:13 EDTGM, FMorgan Stanley questions GM capital allocation plan
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09:13 EDTFMSFT announced several partnerships with industry leaders
At Microsoft Convergence 2015, Microsoft (MSFT) announced several new partnerships with industry leaders. Teaming up with Microsoft, Ford Motor (F) will expand connected services for customers around the world with the creation of the Ford Service Delivery Network. Microsoft also announced several partnerships and collaboration agreements with leading companies in sales, field service, digital transaction management and analytics markets. Microsoft and InsideSales.com will offer its complete sales acceleration platform. Microsoft and FieldOne Systems announced their agreement to bring the FieldOne Sky field service management solution into the Microsoft Dynamics global independent software vendor program. DocuSign and Microsoft announced that the two companies will bring DocuSign's Digital Transaction Management platform to Microsoft Dynamics CRM users. Microsoft also announced the acquisition of intellectual property from Fusion Software which will add Voice of the Customer capabilities to Microsoft Dynamics.
08:05 EDTGMGeneral Motors coverage resumed with an Underweight at Morgan Stanley
Morgan Stanley reinstated General Motors with an Underweight and $28 price target. The firm believes GM's agreement to accelerate capital returns to investors is a popular short-term decision but raises questions longer-term by increasing both financial and strategic risks.
06:23 EDTGMGM employees to be deposed for class action case, NY Times says
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