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Stock Market & Financial Investment News

News Breaks
December 19, 2012
16:30 EDTHLF, GM, ALTE, MKL, AIR, ONTY, PLXT, 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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July 15, 2014
06:38 EDTGMGeneral Motors, VocallQ looking to develop voice-control systems, WSJ reports
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06:27 EDTGMAutomakers backing U.S.-EU trade deal, NY Times reports
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06:16 EDTAIRCIT Aerospace signs MOU with Airbus for twenty aircrafts
CIT Group announced from the Farnborough International Air Show that CIT Aerospace has signed memorandums of understanding, or MOU, with Airbus for 15 A330-900neo aircraft and five A321-200ceo aircraft. Deliveries of the A330-900neo are scheduled to begin in 2018 and deliveries of the A321-200ceo are scheduled to begin in 2015.
July 14, 2014
12:40 EDTGMDelphi confirms that it is not focus of investigation, Detroit News reports
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12:36 EDTGMDelphi not target of DOJ's switch investigation, Reuters reports
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08:14 EDTGMFord should beat Q2 estimates while General Motors will miss, says UBS
UBS believes Ford (F) will beat Q2 estimates while General Motors (GM) will miss due to recall costs. Were it not for the recall charges, UBS thinks GM would post solid underlying results. UBS, which thinks Ford is likely to see a strong second half as product launch costs are already factored into guidance, raised its price target on the stock to $22 from $18. UBS increased its GM price target to $54 from $49. The firm keeps Buy ratings on both stocks.
07:19 EDTGMProsecutors centering GM suit around deceptive statements, Reuters says
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06:34 EDTGMGeneral Motors CEO to appear before Senate subcomittee this week, WSJ says
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July 13, 2014
15:52 EDTGMSouth Africa strike continues with impact on GM output, WSJ says
The National Union of Metalworkers in South Africa has rejected employers concessions and will continue to strike, says the Wall Street Journal. The strike has affected vehicle production at General Motors and BMW facilities in the country, added the Wall Street Journal. Reference Link
July 11, 2014
10:35 EDTGMCadillac confirms Johan de Nysschen as president
General Motors (GM) announced the appointment of Johan de Nysschen as President Cadillac. de Nysschen will be responsible for all aspects of Cadillac globally including sales, pricing and network development, strategic brand development and marketing and product portfolio planning, including critical input for product engineering and design. de Nysschen joins the GM executive leadership team as an executive vice president of the company beginning September 1 and reports to GM President Dan Ammann. de Nysschen spent the last two years as head of the Infiniti (NSANY) brand worldwide.
09:11 EDTGMFormer head of Infiniti taking over Cadillac, CNBC reports
Johan de Nysschen, the former head of Infiniti and Audi USA, will be taking over General Motors' Cadillac division, CNBC's Phil LeBeau reports via Twitter.
July 10, 2014
14:15 EDTHLFHerbalife p.r. flurry 'smells of desperation,' Seeking Alpha contributor says
Herbalife, in an effort to inform investors that 21 independent members are traveling to Washington D.C. in support of the company, released six nearly identical press releases this morning, as noted by Seeking Alpha contributor "Quoth the Raven." Putting the news out in this way, via six press releases instead of "one, concise release is unprofessional and farcical - it smells of desperation for positive press," according to the author, who disclosed a short position in the stock. Reference Link
06:24 EDTGMGeneral Motors to replace faulty ignition switch kits, Detroit News says
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06:06 EDTGMGM recalling Saab convertibles due to safety defect, Detroit News reports
Around 28,790 Saab convertibles from the 2004-2011 model years are being recalled by General Motors, as the driver's seat belt retractor can break, the Detroit News reports. Reference Link
July 9, 2014
09:47 EDTGMNew car sales in India rose 15% in June, WSJ reports
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09:43 EDTGMGeneral Motors, Manchester United debut sponsored shirt for 2014-15 season
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09:21 EDTGMDelphi CEO to testify about GM ignition switches, Automotive News says
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07:52 EDTGMJapan leading drive for fuel cell vehicles, FT says
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06:28 EDTGMGM Korea employees approve strike amid stalled wage discussions, Reuters says
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06:17 EDTGMGM CEO, general counsel to testify before Senate subcommittee, WSJ reports
Mary Barry, the CEO of General Motors (GM), and the company's general counsel, Mike Millikin, have been called to testify next week before a Senate subcommittee looking at why it took the automaker almost 11 years to recall older cars equipped with a faulty ignition switch, the Wall Street Journal reports. Delphi Automotive (DLPH) CEO Rodney O'Neal and Kenneth Feinberg have also been called as witnesses. Reference Link
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