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Stock Market & Financial Investment News

News Breaks
March 9, 2012
10:31 EDTDKS, VHS, VNET, JPM, LPNT, WTW, NLS, JNJ, HLFOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Herbalife (HLF) initiated with an Overweight at Barclays...Weight Watchers (WTW) initiated with an Overweight at Barclays...21Vianet Group (VNET) initiated with a Buy at Stifel Nicolaus...Johnson & Johnson (JNJ) initiated with a Hold at Jefferies...LifePoint Hospitals (LPNT) initiated with a Buy at Cantor...Vanguard Health (VHS) initiated with a Buy at Cantor...Nautilus (NLS) initiated with an Outperform at Northland Securities...JPMorgan (JPM) initiated with a Buy at Guggenheim...Dick's (DKS) Sporting initiated with a Buy at Argus.
News For HLF;WTW;VNET;JNJ;LPNT;VHS;NLS;JPM;DKS From The Last 14 Days
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June 25, 2015
12:51 EDTLPNTOn The Fly: Top stock stories at midday
Stocks on Wall Street opened higher but quickly gave up most of their gains as investors awaited news of a deal being reached between Greece and its creditors. The averages bounced back when the Supreme Court issued its ruling upholding ACA subsidies, sending a number of healthcare linked stocks higher. The market remained in positive ground near noon, but well off its best levels. ECONOMIC EVENTS: In the U.S., personal income rose 0.5% in May, matching the consensus expectation, while spending rose 0.9%, topping the expected 0.7% increase. Initial jobless claims were 271,000 in the week ended June 20, versus expectations for 273,000 first-time claims. Markit's services index fell to 54.8 for the flash June reading, versus expectations for a rise to 56.5 from the 56.2 May reading. The Kansas City Fed manufacturing survey for June came in at -9, as expected. COMPANY NEWS: Shares of hospital operators and health insurers rose after the Supreme Court upheld the legality of subsidies provided under the framework of the Affordable Care Act. The 6 to 3 decision in the Burwell versus King case means that the government can continue to offer subsidies to low income people who purchase health insurance plans on the federal exchange. The plaintiffs in the case had asked the court to strike down such subsidies, saying that the ACA had only allowed the government to subsidize insurance bought on exchanges created by states. In the wake of the ruling, which has been eagerly anticipated, Tenet Healthcare (THC) and Community Health (CYH) both rose more than 14%, while HCA Holdings (HCA) advanced nearly 9%. MAJOR MOVERS: Among the notable gainers was IAC/InterActiveCorp (IACI), which advanced 5% after announcing that its board has approved the pursuit of an initial public offering for The Match Group, which includes dating website Match.com and mobile dating app Tinder. IAC expects Match Group to issue less than 20% of its common stock in the IPO, which is seen being completed during the fourth quarter of this year. Also higher was Magnum Hunter (MHR), which gained 5% after disclosing that it has now determined to pursue the sale by the company of 100% of its current equity ownership interest in Eureka Hunter Holdings. Among the noteworthy losers was World Acceptance (WRLD), which dropped 19% after the company entered into an amendment with its lenders on its revolving credit agreement. FBR Capital downgraded the stock to Market Perform and cut its price target for shares to $73 from $98 afterward, saying restrictive covenants in the latest amendment means free cash flow will now be used to pay down debt rather than buy back stock. Also lower were shares of Cree (CREE), which fell about 11% after the company announced last night that it has decided to restructure its LED Products business to reduce excess capacity and overhead following recent market trends that have resulted in higher LED average selling price erosion than previously forecast. Cree also lowered its Q4 revenue view and issued FY16 revenue guidance that was below the consensus expectation. INDEXES: Near midday, the Dow was up 18.88, or 0.11%, to 17,984.95, the Nasdaq was up 5.87, or 0.11%, to 5,128.29, and the S&P 500 was up 2.18, or 0.1%, to 2,110.76.
11:26 EDTLPNTLifePoint volatility flat on Obamacare upheld by U.S. Supreme Court
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11:06 EDTLPNTHospitals, insurers climb after Supreme Court rules on ACA subsidies
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10:39 EDTLPNTUniversal Health, HCA have most potential upside after ACA ruling, says Leerink
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10:14 EDTLPNTHospital stocks jump after Supreme Court upholds 'Obamacare' subsidies
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10:11 EDTLPNTACA tax subsidies upheld by Supreme Court
The decision of the Fourth Circuit was affirmed in King v. Burwell by a vote of 6 to 3, according to multiple media reports. The Supreme Court upholding the lower court ruling means that individuals who get health insurance through an exchange established by the federal government will be eligible for tax subsidies in all 50 states. Publicly traded companies in the health insurance space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). Publicly traded companies in the hospital space include Community Health (CYH), HCA Holdings (HCA), LifePoint (LPNT), Tenet (THC) and Universal Health (UHS).
10:07 EDTHLFHerbalife rises after Pivotal says SEC completes review of filings
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09:47 EDTHLFHerbalife price target raised to $90 from $80 at Pivotal Research
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07:16 EDTJPMJPMorgan executive Patrick Moore leaves company, Reuters reports
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07:13 EDTJPMFed director says full transparency in stress testing can be 'enormous weakness'
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06:03 EDTJPMJPMorgan in settlement talks with SEC to settle product steering probe, WSJ says
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June 24, 2015
15:53 EDTDKSSunTrust identifies the most likely M&A activity in specialty retail
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08:57 EDTJPMJPMorgan price target raised to $77 from $70 at Argus
Argus increased its price target on JPMorgan based on the bank's cost cutting efforts and expectations for rising interest rates., along with what Argus sees as moderating concerns over litigation expenses and a good investment banking/trading environment. The firm expects the stock's multiple to increase, and it reiterates a Buy rating.
07:19 EDTJPMJPMorgan names Nachimowski head of chemicals dealmaking in EMEA, Bloomberg says
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06:37 EDTJPMDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
05:29 EDTVNET21Vianet enters strategic partnership with Server Farm Realty
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June 22, 2015
16:00 EDTJPMOptions Update; June 22, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 17.45. Option volume leaders: AAPL FB BAC CHK WMB BABA TWTR MU AMBA TSLA JPM
08:06 EDTVNET21Vianet CFO Shang-Wen Hsiao resigns, Terry Wang to succeed
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07:03 EDTWTWWeight Watchers to prepay portion of initial Tranche B-1 term loans
Weight Watchers commenced an offer to prepay at a discount to par up to $229M of Initial Tranche B-1 Term Loans outstanding under, and as defined in, and pursuant to the terms of, the Credit Agreement among the company, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent and an issuing bank, The Bank of Nova Scotia, as revolving agent, swingline lender and an issuing bank, and the other parties thereto. On June 22, 2015, the company accepted offers with a discount equal to or greater than 9.00% in respect of the Initial Tranche B-1 Term Loans. To complete the prepayment of the accepted offers, on June 26, 2015, the company will expend an aggregate amount of cash proceeds totaling approximately $77.2M plus an amount sufficient to pay accrued and unpaid interest on the amount to be prepaid to prepay approximately $84.9M of the Initial Tranche B-1 Term Loans, resulting in approximately $7.6 million in savings on the payment.
06:37 EDTLPNTHealth insurers may change policies based on King v. Burwell ruling, NYT says
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