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Stock Market & Financial Investment News

News Breaks
July 17, 2014
16:13 EDTHPQ, AAHP appoints Whitman Chairman, Alcoa's Kleinfeld joins board
HP (HPQ)announced that Meg Whitman, HP president and CEO, has been appointed chairman of the board of directors, and current director Pat Russo has been appointed lead independent director. Additionally, Klaus Kleinfeld, chief executive and chairman of Alcoa (AA), has been appointed to the board, bringing the total number of board members to 12. Whitman has been president and chief executive officer of HP since September 2011 and a member of the board since January 2011. Russo has been a director since 2011. She leads the HR and Compensation Committee and is a member of the Nominating, Governance and Social Responsibility Committee. "I'm extremely pleased that the board has elected Meg its chairman and Pat lead independent director," said Ralph Whitworth, departing chairman of HP's board. "Meg and Pat are unwavering in their commitment to the corporate governance, capital allocation and management incentive principles that drove our decisions these past three years. They will stick to and strengthen the critical practices and disciplines we've put in place. HP is in great hands." "Meg has been an outstanding leader since coming to HP, and we believe that as chairman she can most effectively drive the turnaround and continue to build value for our shareholders," said Gary Reiner, chairman of the Nominating, Governance and Social Responsibility Committee. Reiner added, "Throughout Pat's three years on the board, her deep operational and technology experience and her commitment to governance best practice have proved invaluable. She was the obvious choice to step in as lead independent director."
News For HPQ;AA From The Last 14 Days
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July 9, 2014
13:33 EDTAAAlcoa price target raised to $18 from $15 at Argus
Argus increased its price target on Alcoa after the company reported stronger than expected Q2 results. The firm expects aluminum prices to rise modestly this year and it keeps a Buy rating on the stock.
12:30 EDTAAOn The Fly: Midday Wrap
Stocks on Wall Street were moderately higher at midday, helped in part by better than expected earnings from Alcoa (AA), solid monthly numbers from the airlines sector, and a bounce from the two day losing streak that had seen the S&P lose 1% and the Nasdaq pullback by more than 2%. The market has been unable to gather any upside momentum and has moved in a narrow range throughout the morning, as investors await the release of the Fedís FOMC minutes. ECONOMIC EVENTS: The minutes from the Federal Open Market Committee meeting held June 17-18 are scheduled to be released at 2:00 pm ET. In China, the producer-price index declined 1.1% from a year earlier, compared with a consensus forecast for a 1% drop. China's consumer-price index rose 2.3%, below projections for a 2.4% gain. COMPANY NEWS: Alcoa swung to a second-quarter profit of 18c a share on an adjusted basis, beating the consensus estimate of 7c a share, as its revenue also topped expectations. The aluminum producer, whose report is widely considered to mark the start of an earnings season, said its transformation is in "high gear" and that its cost position continues to improve. The stock rose 5% near midday following its report. MAJOR MOVERS: Among the notable gainers was AeroVironment (AVAV), which develops a portfolio of products and services for unmanned aircraft and efficient energy systems. The stock rallied 14% after the company reported better than expected fourth quarter results. Also higher was Reynolds American (RAI), which rose more than 2.5% after the U.K.'s Daily Mail reported that British American Tobacco (BTI), which currently holds a 42% stake in Reynolds, is speculated to be "on the verge" of buying out the remainder of its U.S. peer that it does not already own. Among the noteworthy losers was IT infrastructure technology provider Gigamon (GIMO), which was downgraded by at least five firms and plunged 32% after the company lowered its Q2 revenue guidance, citing challenges closing deals. Also lower following its earnings reports was specialty storage and organizational product retailer The Container Store (TCS), which fell 10%. INDEXES: Near midday, the Dow was up 36.86, or 0.22%, to 16,943.48, the Nasdaq was up 18.93, or 0.43%, to 4,410.39, and the S&P 500 was up 4.59, or 0.23%, to 1,968.30.
12:27 EDTAAAlcoa hits 52-week high after better than expected results
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09:35 EDTAAActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AA FB AMZN TSLA TWTR MU NFLX GG CELG
08:26 EDTAAAlcoa shares should be bought, says Sterne Agee
After Alcoa reported stronger than expected Q2 results, Sterne Agee expects the company to be boosted by strength in its aerospace business going forward. The firm believes that the company's fundamentals are improving.
07:37 EDTAAAlcoa price target raised to $18.50 from $15 at JPMorgan
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07:26 EDTAAInvestors hope solid earnings can reverse losing streak
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07:02 EDTAAAlcoa price target raised to $17 from $15 at Stifel
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06:36 EDTHPQNotebook vendors shifting more orders to China makers, DigiTimes reports
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July 8, 2014
18:28 EDTAAOn The Fly: After Hours Movers
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17:55 EDTAAAlcoa expects Q3 EPS to 'continue to build on strong second quarter'
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16:14 EDTAAAlcoa raises 2014 estimate for North America commercial transportation market
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16:12 EDTAAAlcoa CEO says cost position continues to improve
Says company's transformation in "high gear." Says aerospace business is a tailwind due to strong demand for commercial aircraft. Says well-positioned to capture upside from recent investments. Klaus Kleinfeld is speaking on CNBC.
16:04 EDTAAAlcoa continues to see 2014 global aerospace growth of 8%-9%
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16:03 EDTAAAlcoa continues to see 2014 global aluminum demand growth of 7%
Sees global aluminum deficit increasing; global alumina surplus shrinking.
16:03 EDTAAAlcoa reports Q2 adjusted EPS 18c, consensus 12c
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16:00 EDTAAOptions Update; July 8, 2014
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15:23 EDTAANotable companies reporting after market close
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14:26 EDTAAAlcoa July weekly 15 straddle priced for 4.5% move into Q2
06:34 EDTHPQHP shares attractively valued at current levels, says Deutsche Bank
Deutsche Bank says shares of HP are not adequately reflecting the company's innovation and increased R&D investment. Deutsche notes HP's new product introductions are up nearly two times versus three years ago. The firm views the stock as attractively valued and reiterates a Buy rating on HP with a $40 price target.
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