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Stock Market & Financial Investment News

News Breaks
November 27, 2013
16:56 EDTBIOS, LCC, HPQ, TLYS, CVS, AAMRQ, BLOX, AAL, GMOn The Fly: Closing Wrap
Stocks on Wall Street were higher after weekly jobless claims came in below forecasts, while the leading economic indicators, the University of Michigan consumer confidence reading, and the Chicago purchasing manager’s report were all better than expected as well. The news flow and trading volume remained light throughout the day before the Thanksgiving holiday, as is to be expected. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 10K to 316K last week from a revised 326K the week before. Durable goods orders dropped 2.0% in October, which was generally in-line with economists' forecast. Excluding transportation, orders dipped 0.1%., versus an expected increase of 0.5%. The Chicago Fed national activity index fell to -0.18 in October from a September figure that was revised to 0.18 from 0.14. The Chicago purchasing mangers' index for November fell to 63.0, versus expectations for it to decline more sharply to 60.0. The final Reuters/University of Michigan consumer sentiment reading for November came in at 75.1, versus expectations for a 73.1 figure. The leading economic indicators for October rose 0.2%, versus expectations for an increase of 0.1% for the month. COMPANY NEWS: Hewlett-Packard (HPQ) shares advanced $2.27, or 9.05%, to $27.36 after the company reported fourth quarter profits that were slightly higher than expected and revenue that came in significantly above the consensus forecast. Analyst commentary after its report was mixed, with Evercore upgrading the stock and Citigroup making positive comments, while Goldman and Cantor were more cautious... American Airlines parent AMR Corporation (AAMRQ) and US Airways (LCC) had their antitrust settlement with the DOJ approved by a bankruptcy court. As a result, the companies estimate the common stock of the combined "American Airlines Group" will begin trading under the symbol "AAL" as of December 9, and the shares of their respective predecessor companies will cease trade the Friday before that. MAJOR MOVERS: Among the notable gainers was BioScrip (BIOS), which jumped $1.02, or 17.29%, to $6.92 after CVS Caremark (CVS) announced a $2.1B deal to acquire Coram, which, like BioScrip, provides home infusion services. CVS shares also gained $0.67, or 1.01%, to $66.76 after announcing the pact. Also higher were shares of General Motors (GM), which rose $1.18, or 3.13%, to $38.85 after Bloomberg reported that Harry Wilson, a member of the task force that helped rebuild the automaker, said GM may become a target for activist investors if it doesn't return some of its cash to shareholders. Among the noteworthy losers following its earnings report and disappointing guidance was teen retailer Tilly's (TLYS), which fell $3.88, or 24.43%, to $12.00. Also sliding after its quarterly report was network technology company Infoblox (BLOX), which dropped $12.88, or 28.65%, to $32.08. INDEXES: The Dow was up 24.53, or 0.15%, to 16,097.33; the Nasdaq was up 27.00, or 0.67%, to 4,044.75; and the S&P 500 was up 4.48, or 0.25%, to 1,807.23.
News For HPQ;GM;AAMRQ;LCC;AAL;CVS;BIOS;BLOX;TLYS From The Last 14 Days
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April 8, 2014
08:03 EDTAALAmerican Airlines reports March RPMs up 0.9% YoY
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07:40 EDTBIOSBioScrip, InterXion, RealD mentioned as stock picks by Oscar Schafer
Pharmacy and home health services provider BioScrip (BIOS) was named as a stock pick and a potential takeover target by Oscar Schafer, managing partner of O.S.S. Capital Management and chairman of Rivulet Capital, while speaking on CNBC. Schafer also mentioned data center service provider InterXion (INXN) and 3D technology licensor RealD (RLD) as stock picks during his appearance on the network.
07:31 EDTGMGM workers in Bowling Green to hold vote on strike, AP reports
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07:17 EDTGMChina car sales up 9% as curbs spark early purchases, Bloomberg says
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07:14 EDTGMGM SUVs earn top scores among rivals in crash test, Bloomberg says
The Insurance Institute for Highway Safety said GM's (GM) Chevrolet Equinox and GMC Terrain earned the highest scores among mid-size sport-utility cars in a test made to simulate one of the deadliest kinds of front-end crashes, according to Bloomberg, citing a statement from IIHS's Chief Research Officer David Zuby. Toyota's (TM) Highlander earned an "acceptable" rating, while the other six cars that were tested were given a "marginal" or "poor" rating. Reference Link
April 7, 2014
17:25 EDTGMGeneral Motors to invest $450M in electric cars, WSJ says
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14:16 EDTGMGroup says General Motors' Impala could have air bag defect, Bloomberg reports
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11:17 EDTGMGeneral Motors upgraded to Buy from Hold at Standpoint Research
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10:32 EDTAALAirline stocks rally after Goldman ups sector rating
Airline stocks are rising in a down market after Goldman Sachs raised its rating on the sector to Attractive from Neutral. WHAT'S NEW: Although airline stocks have already outperformed the market, it's not too late for investors to get involved in the sector, Goldman wrote in a note to investors earlier today. Not yet priced into the stock are higher ticket prices, more crowded planes, and a recovering U.S. consumer, according to the firm. It initiated coverage of American Airlines (AAL) with a Buy rating and upgraded its rating on JetBlue (JBLU) to Neutral from Sell. Goldman kept Buy ratings on Delta (DAL) and United Continental (UAL). PRICE ACTION: In mid-morning trading, American Airlines rose 1.25% to $37, JetBlue added 0.6% to $8.80, Delta gained 2% to $35.30, and United Continental lost 0.5% to $44.65.
10:00 EDTAALOn The Fly: Analyst Initiation Summary
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07:24 EDTCVSCVS Caremark price target raised to $84-$89 from $75-$80 at Wells Fargo
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07:09 EDTAALAirline quality study shows customer complaint improvement, Reuters says
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06:39 EDTHPQTwo HP executives arrested in Pakistan, WSJ reports
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06:35 EDTGMGM investors keep faith as recall reduces $3B in value, Bloomberg says
A variety of institutional investors in GM say they still feel confident in the stock after the recall crisis reduced more than $3B in shareholders’ value over four weeks, reported Bloomberg. Reference Link
06:29 EDTGMGeneral Motors considers range of options for victim-compensation, WSJ says
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06:14 EDTAALAirlines sector upgraded to Attractive from Neutral at Goldman
Goldman upgraded the Airlines sector to Attractive from Neutral based on a more bullish views on the cycle and improving demand. The analyst believes consensus estimates underestimate pricing, which will boost multiples. As part of the sector change, the firm initiated American Airlines (AAL) with a Buy rating and upgraded JetBlue (JBLU) to Neutral from Sell.
06:09 EDTAALAmerican Airlines initiated with a Buy at Goldman
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April 6, 2014
18:12 EDTGMGM to begin fixing faulty ignition switches, WSJ says
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16:07 EDTGMGM's Opel brand planning compact electric car by 2017, Reuters says
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14:53 EDTGMMcCaskill says GM ignition case could lead to criminal charges, Reuters says
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