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Stock Market & Financial Investment News

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February 14, 2013
12:25 EDTLCC, BRK.A, WTW, ANGI, GM, BUD, HNZ, WFM, Z, CSCO, AAMRQ, STZ, ULTA, VCLK, PEPOn The Fly: Midday Wrap
Stocks on Wall Street were little changed at midday in spite of fewer than expected weekly jobless claims and a flurry of mergers and acquisitions announcements. The domestic news was offset by worse than expected economic growth data from Europe and Japan, leaving the major averages mixed near noon... ECONOMIC EVENTS: In the U.S., weekly jobless claims fell 27K from the prior week to 341K, versus expectations for 360K claims. In Europe, the euro zone's 0.6% contraction in gross domestic product in the fourth quarter was the steepest for the bloc since early 2009. The zone's two biggest economies shrank more than expected, as Germany's economy contracted 0.6% and France's shrunk 0.3%. In Asia, Japanís real gross domestic product contracted for the third straight quarter, shrinking 0.1% in the final three months of last year... COMPANY NEWS: M&A news stole the headlines, as household names Heinz (HNZ), US Airways (LCC), American Airlines (AAMRQ) and Anheuser-Busch (BUD) were all involved in high-profile deals. Warren Buffet's Berkshire Hathaway (BRK.A), along with partner 3G Capital, agreed to buy H.J. Heinz for $72.50 in cash per share, sending the stock of the ketchup maker up 20%. Constellation Brands (STZ) soared more than 35% after the terms of its deal with AB InBev were revised, granting Constellation perpetual rights to distribute Corona and other Modelo brands in the U.S. AB InBev shares also gained over 4% following the modification, which the company hopes will end its fight with the DOJ over its intention to acquire Grupo Modelo. US Airways shares fell 7% after it agreed to merge with bankrupt AMR Corp, the parent of American Airlines, in a deal that will create the world's biggest air carrier... Almost overshadowed among the M&A news were earnings reports from giants General Motors (GM), PepsiCo (PEP) and Dow component Cisco (CSCO). Of the three, only Pepsi traded higher following its results and outlook... MAJOR MOVERS: Among the notable gainers following their earnings reports were Angie's List (ANGI), up 24%, ValueClick (VCLK), up 16%, and Zillow (Z), up 12%. Among the noteworthy losers after their quarterly reports were Weight Watchers (WTW), down 16%, Ulta Salon (ULTA), down 12%, and Whole Foods Market (WFM), down over 9%... INDICES: Near noon, the Dow was down 9.40, or 0.07%, to 13,973.51; the Nasdaq was up 0.31, or 0.01%, to 3,197.19; and the S&P 500 was up 0.14, or 0.01%, to 1,520.47.
News For A;STZ;BUD;LCC;AAMRQ;GM;PEP;CSCO;ANGI;VCLK;Z;WTW;ULTA;WFM From The Last 14 Days
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February 24, 2015
13:13 EDTGMTesla Model S named 'best overall' by Consumer Reports
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10:00 EDTZOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AMC Networks (AMCX) downgraded to Neutral from Outperform at Macquarie... American Airlines (AAL) downgraded to Market Perform at Cowen... Armstrong World (AWI) downgraded to Hold from Buy at KeyBanc... Basic Energy (BAS) downgraded to Outperform from Strong Buy at Raymond James... CSC (CSC) downgraded at Stifel... Chevron (CVX) downgraded to Perform from Outperform at Oppenheimer... Choice Hotels (CHH) downgraded to Underweight from Equal Weight at Barclays... Eni SpA (E) downgraded to Underperform from Hold at Jefferies... Fifth Street Asset (FSAM) downgraded to Neutral from Outperform at Credit Suisse... HSBC (HSBC) downgraded to Neutral from Buy at UBS... Home Loan Servicing (HLSS) downgraded to Neutral from Overweight at Piper Jaffray... Huntington Ingalls (HII) downgraded to Underperform from Neutral at Credit Suisse... International Paper (IP) downgraded to Hold from Buy at Deutsche Bank... Kayne Anderson (KED) downgraded at Stifel... Landstar System (LSTR) downgraded to Hold from Buy at Deutsche Bank... Multi-Color (LABL) downgraded to Neutral from Long-Term Buy at Hilliard Lyons... Newmont Mining (NEM) downgraded to Neutral from Overweight at HSBC... ONEOK Partners (OKS) downgraded to Underweight from Neutral at JPMorgan... ONEOK (OKE) downgraded to Underweight from Neutral at JPMorgan... Olympic Steel (ZEUS) downgraded to Underperform from Neutral at Credit Suisse... Polypore (PPO) downgraded to Market Perform from Outperform at William Blair... Rosetta Resources (ROSE) downgraded to Equal Weight from Overweight at Stephens... Salix (SLXP) downgraded to Neutral from Buy at UBS... Sprint (S) downgraded to Sell from Neutral at BTIG... St. Jude Medical (STJ) downgraded to Underperform from Outperform at Credit Suisse... Timmins Gold (TGD) downgraded on lack of near-term production catalysts at RBC Capital... Transocean Partners (RIGP) downgraded to Underweight from Equal Weight at Barclays... Vodafone (VOD) downgraded to Underperform from Neutral at BofA/Merrill... Williams Partners (WPZ) downgraded to Neutral from Buy at Citigroup... Williams (WMB) downgraded to Neutral from Buy at Citigroup... Worthington (WOR) downgraded to Neutral from Outperform at Credit Suisse... Zillow Group (Z) downgraded at Macquarie.
09:24 EDTWTWWeight Watchers volatility elevated into Q4 and outlook
Weight Watchers March call option implied volatility is at 70, April is at 59, July is at 55; compared to its 26-week average of 43 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on February 26.
08:16 EDTZZillow Group downgraded at Macquarie
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07:30 EDTSTZJPMorgan to hold a conference
Global High Yield & Leveraged Finance Conference is being held in Miami Beach, FL on February 23-25 with webcasted company presentations to begin on February 24 at 7:40 am; not all company presentations may be webcasted. Webcast Link
07:28 EDTZZillow Group downgraded to Neutral from Outperform at Macquarie
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February 23, 2015
12:37 EDTPEPSodaStream not a likely target of PepsiCo, NY Times says
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10:40 EDTGMGM ignition-switch deaths increase to 57, WSJ says
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10:08 EDTANGIHigh option volume stocks
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09:52 EDTZTrulia could lose 40% of listings if lawsuit fails, says Deutsche Bank
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06:24 EDTGMGeneral Motors to legally challenge worker strike in Brazil, WSJ reports
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06:14 EDTWFMWhole Foods to host investor meeting
Investor meeting to be held on February 27 at 9 am. Webcast Link
February 22, 2015
18:09 EDTCSCOArista Networks shares could be a bargain, Barron's says
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14:20 EDTGMUAW chief says GM buyback proposal too much, premature, Reuters says
Dennis Williams, the president of the UAW, said that an investor groupís proposal that GM buy back $8B of its stock is premature, and the amount too high for the companyís long-term health, says Reuters. The UAW indirectly controls the largest single block of General Motors shares, added Reuters. Reference Link
February 20, 2015
16:48 EDTANGIDow, S&P 500 finish week at record highs after Greek deal reached
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14:36 EDTZZillow sues to maintain ListHub listings on Trulia, GeekWire reports
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08:11 EDTGMAlly CEO exploring subprime lending, sees loss of GM business, Detroit News says
Ally (ALLY) CEO Jeffrey Brown stated in a Thursday interview with The Detroit News that the company may return to offering credit cards and home mortgages, and currently plans to expand auto lending to subprime customers. The CEO said he expects to decide within 30-60 days whether Ally will consolidate its five locations to a single headquarters in the Detroit suburbs. Brown added that he expects GM (GM) to shift its $4.1B subsidized leasing program for Chevrolet from Ally to GM Financial, which the Ally CEO wants to offset by increasing subprime lending from 9% of total lending to 12%-15%. Reference Link
07:04 EDTGMAlly CEO assuming company will lose all of GM's leasing business, Reuters says
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06:41 EDTGMApple pushing for 2020 production of its electric car, Bloomberg says
Apple (AAPL) is pushing to begin production of its electric vehicle as soon as 2020, reports Bloomberg, citing people with knowledge of the matter. Bloomberg notes that the move could put Apple into direct competition with Tesla (TSLA) and General Motors (GM), both of which are targeting a 2017 release for next-generation electric vehicles. Apple may still cancel the project if it becomes unhappy with progress, the sources said, though its vehicle team is already 200-people strong. Reference Link
06:06 EDTGMGeneral Motors names Craig Glidden as new general counsel
General Motors (GM) announced yesterday that Craig B. Glidden has been appointed executive VP and general counsel, effective March 1. Glidden will lead a team of staff attorneys who are integrated into all of GMís regional and functional teams in more than 30 countries. Glidden succeeds Michael Millikin, who is retiring in July after a nearly four-decade legal career, including five years as GMís general counsel. Before joining GM, Glidden was executive VP and chief legal officer for LyondellBasell Industries (LYB).
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