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Stock Market & Financial Investment News

News Breaks
December 19, 2012
16:30 EDTAIR, GM, PLXT, MKL, HLF, ONTY, ALTE, IDTIOn The Fly: Closing Wrap
Stocks on Wall Street finished lower after a session that saw the averages trade on either side of the flat line. News out of Washington continued to dominate the headlines. House Speaker Boehner, speaking in the afternoon, said that it was time for President Obama to "get serious" on the budget, which sent the averages to their lows... ECONOMIC EVENTS: In the U.S., housing starts slid 3.0% in November to a 861,000 start rate, versus the expected 872,000. However, building permits rose 3.6% month over month to a 899,000 rate, versus the expected 875,000... COMPANY NEWS: CNBC's Kate Kelly reported that activist investor Bill Ackman has taken a "major" short position in Herbalife (HLF). The report said that Ackman considers Herbalife a "pyramid scheme" and will disclose his position, taken after several months of research, at an investor event tomorrow. Shares of Herbalife were halted for volatility following the report and finished the day down $2.28, or 5.36%, at $40.22... General Motors (GM) announced plans to buy back 200M shares held by the U.S. Treasury in a first step toward the government's full exit from its holding within the next 12 to 15 months. GM will pay $27.50 a share, or $5.5B total, and expects to close the deal to reduce the government's stake in the company to 19% from 26.5% by the end of this year. GM shares rose $1.69, or 6.63%, to $27.18 after the news... MAJOR MOVERS: Among the notable gainers was AAR Corp. (AIR), up $2.23, or 13.32%, to $18.97 after reporting earnings that beat Street estimates, raising its FY13 EPS view, and seeing its price target raised to $24 from $22 at DA Davidson. Also higher were shares of Alterra Capital (ALTE), up $5.03, or 21.73%, to $28.18 following its deal to be acquired by Markel (MKL) for $31 per share in stock and cash. Shares of Markel lost $49.81, or 10.25%, to close at $436.24. Among other noteworthy losers was Oncothyreon (ONTY), down $2.31, or 51.33%, to $2.19 after its lung cancer drug missed its endpoint in a study. Also lower were shares of PLX Technology (PLXT), down 80c, or 17.78%, to $3.70 after news the FTC would seek to block the company's planned merger with Integrated Device Technology (IDTI). Conversely, shares of Integrated Device rose 16c, or 2.31%, to $7.08... INDICES: The Dow was down 98.99, or 0.74%, to 13,251.97; the Nasdaq was down 10.17, or 0.33%, to 3,044.36; and the S&P 500 was down 10.98, or 0.76%, to 1,435.81.
News For HLF;GM;ALTE;MKL;AIR;ONTY;PLXT;IDTI From The Last 14 Days
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January 26, 2015
06:12 EDTHLFPrivate equity firm 'seriously' considered buying Herbalife, NY Post reports
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06:07 EDTHLFStocks with implied volatility above IV index mean; YHOO HLF
Stocks with implied volatility above IV index mean; Yahoo (YHOO) 46, Herbalife (HLF) 101 according to iVolatility.
January 23, 2015
11:59 EDTHLFHerbalife jumps after CNBC says Stiritz adding to stake
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11:53 EDTHLFBill Stiritz has added to Herbalife position, CNBC reports
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10:54 EDTGMGoodyear Tire recalls 48,500 SUV tires after finding small tread cracks, AP says
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07:28 EDTGMGeneral Motors has too much capital on balance sheet, Bass says
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05:55 EDTHLFStocks with implied volatility above IV index mean; P HLF
Stocks with implied volatility above IV index mean; Pandora (P) 67, Herbalife (HLF) 121 according to iVolatility.
January 22, 2015
10:07 EDTGMGM invests $300M to upgrade plant for new Cadillac sedan, Reuters reports
GM has invested $300M to upgrade and automate its Detroit-Hamtramck plant ahead of the launch of the 2016 Cadillac CT6 luxury sedan, reports Reuters. The investment includes the construction of a new body shop equipped with 205 robots and designed to use advanced manufacturing techniques as aluminum laser welding. Reference Link
07:44 EDTHLFHerbalife price target lowered to $50 from $60 at Canaccord
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07:20 EDTGMGM bringing Spark electric vehicle to Maryland by June, WSJ says
General Motors will start selling its Spark EV in Maryland by late June, reports the Wall Street Journal. The state joins California and Oregon in offering the $17,845 electric-only car, which can travel 119 miles per charge. Official GM announcements are expected at the upcoming Washington D.C. auto show. Reference Link
05:55 EDTHLFStocks with implied volatility above IV index mean; TWC HLF
Stocks with implied volatility above IV index mean; Time Warner Cable (TWC) 41, Herbalife (HLF) 114 according to iVolatility.
January 21, 2015
19:18 EDTGMLower oil prices could boost car and truck sales, CNBC reports
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14:41 EDTIDTIIntegrated Device has good odds of supplying Samsung charger, says Dougherty
After multiple tech blogs reported that Samsung's flagship smartphone, the Galaxy S 6, may have built-in wireless charging when it's launched in March, Dougherty believes that there is a good chance that Integrated Device (IDTI) will supply the wireless chargers. The firm says the deal could boost Integrated Device's annual revenue by $112M-$135M annually. The firm keeps an $18 price target and Buy rating on Integrated Device.
14:39 EDTIDTISamsung Galaxy S6 likely to have wireless charging, BGR says
Among the expected features for Samsung's (SSNLF) upcoming new flagship Galaxy S6 phone, BGR said it expects the device to feature built-in wireless charging. The Fly notes that Integrated Device (IDTI) is a supplier for wireless charging components. Reference Link
13:54 EDTGMJPMorgan could lose $1.5B as a result of 2008 error, Reuters says
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13:53 EDTGMGoldman cuts rating on auto dealers citing below consensus U.S. sales view
Goldman Sachs lowered its outlook on auto dealers to Cautious from Neutral, citing several factors, including its belief that U.S. auto sales growth will be "essentially flat" this year. The firm also downgraded its rating on one of the companies in the sector, AutoNation (AN), to Neutral from Buy and removed the stock from its Americas Buy List. WHAT'S NEW: U.S. auto sales will probably rise less than 1% this year on a seasonally adjusted basis, Goldman analyst Patrick Archambault wrote in a note to investors today. Archambault indicated that his U.S. auto sales estimate is significantly below analysts' consensus outlook. Incentive deals and sales to subprime customers last year will probably negatively affect sales growth this year, the analyst stated. Additionally, the growth of dealers' revenue from parts and service is likely to slow this year after a series of major auto recalls were carried out last year, Archambault warned. Dealers may also be hurt by the regulation of auto lenders by the Consumer Financial Protection Bureau, since lenders and dealers split the profits from interest rate markups, the analyst stated. Finally, dealers are trading at a valuation that is 13% above their ten year average, according to Archambault. The analyst cut his rating on AutoNation to Neutral from Buy, based partly on valuation and his belief that the stock's near-term catalysts have diminished after it implemented a rebranding strategy and enhanced its digital systems. Over the medium term, the company's growth prospects will be limited by weak U.S. auto sales growth this year, added Archambault. However, the analyst continues to identify AutoNation as his favorite auto dealer stock. Other auto dealers covered by the analyst include Penske (PAG), which he rates Neutral, and Group 1 (GPI) and Sonic Automotive (SAH), both of which are rated Sell by the analyst. WHAT'S NOTABLE: Automakers whose shares could be negatively affected if the analyst's forecast for anemic U.S. sales growth proves to be accurate include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). PRICE ACTION: In mid-afternoon trading, AutoNation lost 1.2% to $57.12, Sonic Auto lost 1% to $25.18, Group 1 fell 2.5% to $77.40, and Penske climbed 1% to $47.09.
12:02 EDTHLFUBS reports 6.4% passive stake in Herbalife
05:56 EDTHLFStocks with implied volatility above IV index mean; TWC HLF
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January 20, 2015
08:59 EDTGMGM receives 108 new ignitition claims, $400M earmarked for cases, Reuters says
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06:01 EDTHLFStocks with implied volatility above IV index mean; HLF YHOO
Stocks with implied volatility above IV index mean; Herbalife (HLF) 113, Yahoo (YHOO) 54 according to iVolatility.
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