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News Breaks | | | | November 20, 2012 | | 12:40 EDT |  | KKD, CS, HPQ, PDCO, KO, JPM, CLF, GMCR, BBY | On The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday as a surprisingly large write-down, and associated charges of fraud, from Dow component Hewlett-Packard (HPQ) somewhat overshadowed better than expected U.S. housing data. Stocks began the day moderately lower, with the early weakness attributed to a downgrade of French sovereign debt. The averages found a level almost immediately from which they began paring their losses. The averages were mixed and sitting on either side of the flat line as Fed Chairman Bernanke gave a speech stating that the fiscal cliff has the potential to influence economic growth significantly, for better or worse, this coming year... ECONOMIC EVENTS: In the U.S., housing starts increased 3.6% in October from the prior month, to an annual rate of 894K, versus expectations for a decline of 3.7%. Building permits declined 2.7%, to an 866K annual rate, versus expectations for a decline of 2.9%. In Europe, Moody's downgraded France's government bond rating to Aa1 from Aaa... COMPANY NEWS: Hewlett-Packard shares plunged 11% to a 10-year low after the company recorded a $8.8B write-down "linked to serious accounting improprieties, disclosure failures and outright misrepresentations” related to its purchase of U.K. software company Autonomy. Almost lost in the scandal were H-P's results, as its quarterly earnings beat expectations but its view for profit next quarter trailed Street estimates... Best Buy's (BBY) earnings fell short of lowered expectations, its same store sales declined 4.3% and the company lowered its free cash flow view by almost a half a billion dollars, sending shares down 12%... In the financial sector, JPMorgan (JPM) announced a new Chief Financial Officer and Credit Suisse (CS) said it will combine its asset management unit with its private bank resulting in a simplified corporate structure with only two arms... MAJOR MOVERS: Among the notable gainers was Green Mountain Coffee Roasters (GMCR), which rose 6% after it named former Coca-Cola (KO) executive Brian Kelley as its new CEO. Also higher were shares of Krispy Kreme (KKD), up 22% after its Q3 results topped expectations. Among the noteworthy losers were Cliffs Natural Resources (CLF), down 9% following a downgrade to Sell at Goldman, and Patterson Companies (PDCO), down 7% after the company lowered its FY13 EPS view... INDICES: Near 12:30 pm ET, the Dow was up 2.42, or 0.02%, to 12,798.38; the Nasdaq was down 3.44, or 0.12%, to 2,912.63; and the S&P 500 was down 0.33, or 0.02%, to 1,386.56. | |
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News For HPQ;BBY;JPM;CS;GMCR;KO;KKD;CLF;PDCO From The Last 14 Days Check below for free stories on HPQ;BBY;JPM;CS;GMCR;KO;KKD;CLF;PDCO the last two weeks. |
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| June 18, 2013 | | 16:13 EDT |  | KO | AMA adopts policy supporting ban of marketing energy drinks to kids
The American Medical Association, or AMA, announced that it voted during its Annual Meeting to adopt several new policies on emerging issues in public health and science. Among the policies adopted was support for a ban of the marketing of high stimulant/caffeine drinks to adolescents under the age of 18. "Energy drinks contain massive and excessive amounts of caffeine that may lead to a host of health problems in young people, including heart problems, and banning companies from marketing these products to adolescents is a common sense action that we can take to protect the health of American kids," said AMA board member Alexander Ding, M.D. The Fly notes that Forbes reported earlier this week that the AMA might endorse such a ban. | | | 15:23 EDT | | KO | AMA calls for ban on advertising energy drinks to kids, Bloomberg says
 Subscribe for More Information | | | 12:30 EDT | | GMCR | Starbucks CFO indicates new food products have been successful
A Starbucks (SBUX) executive indicated at a conference earlier today that its new food products have been successful. Starbucks has greater confidence that its food sales will continue to trend upward after launching new food products in two markets, Starbucks CFO Troy Alstead stated at the Jefferies Global Consumer Conference. Starbucks has launched food made by La Boluange, a restaurant chain that it acquired last year, at Starbucks stores in Northern California and the Seattle area. New beverages and an increased number of Starbucks drive-through stores can also improve the company's performance going forward, Alstead said. The Teavana brand that Starbucks acquired leaves the company poised to capitalize on "tremendous opportunities around the world for a contemporary teahouse concept," the CFO added. Meanwhile, Alstead reiterated that Starbucks does not plan to compete with Green Mountain (GMCR) by focusing on selling coffee machines. "We recognize that Starbucks is not an equipment company. We don't have aspirations to become a deep equipment company," said the CFO, who also praised Green Mountain. In early afternoon trading, Starbucks rose 95c, or 1.4%, to $67, while Green Mountain fell 1% to $78.70. | | | 09:20 EDT |  | HPQ | UBS IT hardware analyst holds an analyst/industry conference call
IT Hardware Analyst Milunovich and Hewlett Packard's COO Bill Veghte discuss HP's cloud computing strategy on an Analyst/Industry conference call to be held on June 20 at 11 am. | | | 07:46 EDT | | HPQ | Hewlett-Packard awards $88M Medicaid contract extension
HP Enterprise Services announced the Bureau of TennCare, Tennessee's Medicaid program, has signed an $88M agreement for HP to continue as the state's facilities manager for another two years, helping enable the state's program transformation while maintaining program stability for members. Under the terms of the new agreement, which includes two one-year options, HP will help the state move its technology infrastructure to a more flexible and sustainable services-oriented architecture that will improve responsiveness to business changes. The agreement also includes a continuation of HP Applications Services to maintain the TennCare Management Information System, which enhances workflow while providing timely access to accurate and meaningful information. | | | 07:30 EDT | | PDCO | Northcoast to host a forum
Subscribe for More Information | | | 07:29 EDT | | CS | Securities Industry and Financial Markets Association to host a conference
Subscribe for More Information | | | 07:27 EDT |  | KKD | Krispy Kreme checks suggest Q2 upside, says Longbow
Longbow's checks indicate indicates Q2 upside to 7.5% sales growth from Krispy Kreme company owned stores and 8.2% from franchises. The firm has increased confidence in its Q2 EPS estimate of 16c vs. the Street's 15c EPS estimate and reiterates its Buy rating. | | | 07:19 EDT | | HPQ | Eyefortransport to hold a summit
Subscribe for More Information | | | 06:17 EDT |  | HPQ | Taiwan tablet sales to reach 2M units in 2013, DigiTimes reports
Tablet demand in the Taiwan market is set to reach 2M units in 2013, reports DigiTimes, according to a Far EasTone Telecommunications Officer. Maxwell Cheng said the forecast for tablet sales volume in 2013 is set to double the level in 2012, with the 7-inch models estimated to account for 70%-80% of solid tablets. Reference Link | | | | 06:01 EDT |  | GMCR | Stocks with implied volatility below IV index mean; GMCR GCI
Stocks with implied volatility below IV index mean; Green Mountain (GMCR), Gannett (GCI) according to IVolatility. | | | June 17, 2013 | | 15:29 EDT | | BBY, HPQ | Google's Chromebook to be available in Wal-Mart, Staples
In addition to Best Buy (BBY) and Amazon.com (AMZN), Google (GOOG) announced that, starting today, Walmart (WMT) will be making the newest Acer Chromebook available in approximately 2,800 stores across the U.S. for $199. Beginning this weekend, Staples (SPLS) will bring a mix of Chromebooks from Acer, HP (HPQ) and Samsung (SSNLF) to each of its stores in the U.S., or more than 1,500 in total. Reference Link | | | 12:03 EDT | | CLF | Stocks with call strike movement; CLF FSLR
Cliffs Natural (CLF) August 20 call volatility increased 2% to 63, First Solar (FSLR) July 52.5 call option implied volatility decreased 2% to 65 according to IVolatility. | | | 09:40 EDT | | CLF | Active equity option families trading on open
Active equity option families trading on open according to Track Data: AAPL NFLX GOOG CLF TSLA CRM. | | | 09:36 EDT | | JPM | JPMorgan reports May net credit losses 3.34% vs. 3.49% last month
Reports May delinquency rate 1.60% vs. 1.70% last month. | | | 08:22 EDT | | HPQ | Hewlett-Packard management to meet with UBS
Subscribe for More Information | | | 08:09 EDT | | JPM | JPMorgan confirms launch of asset tracking service
Subscribe for More Information | | | 07:50 EDT | | JPM | Move to relaunch synthetic CDOs falls apart, FT reports
Subscribe for More Information | | | 07:42 EDT | | JPM | JPMorgan to begin asset tracking service, FT reports
Subscribe for More Information | | | 07:22 EDT | | KO | Biotech Industry Organization to host a conference
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