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Stock Market & Financial Investment News

News Breaks
June 5, 2014
12:28 EDTVRA, JOY, PVH, GM, AXAS, HPQOn The Fly: Midday Wrap
Stocks began the session in quiet fashion as they got little help from the day’s economic reports which included the weekly jobless claims data and the monthly Challenger Job Cuts report. The relatively benign numbers lifted the futures above fair value but gave it little momentum once the market opened. The averages drifted in a narrow range and pushed the S&P to a new all-time high. The market may continue to drift this afternoon as investors move to the sidelines ahead of tomorrow’s nonfarm payrolls report. ECONOMIC EVENTS: In the U.S., initial jobless claims rose slightly, up 8,000 to 312,000, in the week of May 31. The Challenger Job-Cut Report for May came in at 52,961, an increase partially caused by a 16,000 employee layoff at Hewlett-Packard (HPQ). COMPANY NEWS: General Motors (GM) released the results of an internal investigation into the company’s delayed recall of defective ignition switches, with CEO Mary Barra saying the saga was "riddled with failure, leading to tragic results for many." Fifteen employees were fired for misconduct, incompetence or failure to act. MAJOR MOVERS: Joy Global (JOY) is up 6.31% after reporting Q2 earnings results and backing its FY14 guidance. Abraxas Petroleum (AXAS) is up 11.38% after raising its FY14 production guidance last night after the close. Abraxas was also upgraded to Buy from Neutral at SunTrust this morning. PVH Corp (PVH) is down 6.66% after reporting Q1 earnings results and lowering its FY14 EPS view. Vera Bradley (VRA) is down 3.6% after reporting Q1 earnings results and giving Q2 and FY15 guidance that did not meet analyst expectations. INDEXES: The Dow is up 97.10, or 0.58%, to 16,834.63; the Nasdaq is up 37.88, or 0.89%, to 4,289.52; and the S&P 500 is up 11.06, or 0.57%, to 1,938.96.
News For HPQ;GM;JOY;AXAS;PVH;VRA From The Last 14 Days
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November 24, 2014
11:31 EDTGMTwo more deaths attributed to faulty GM ignition switch, Reuters says
According to the lawyer overseeing a program to compensate for deaths and accidents linked to the faulty General Motors ignition switch, two more deaths are now being attributed to the faulty part, says Reuters. Reference Link
07:28 EDTHPQHP price target raised to $45 from $40 at Deutsche Bank
Deutsche Bank raised its price target for HP shares to $45 ahead of the company's Q4 results on November 25. The firm expects an in-line quarter with the potential for higher earnings due to buybacks. To reflect higher buybacks, Deutsche raised its earnings estimates and it keeps a Buy rating on HP.
06:44 EDTHPQHP volatility elevated into Q4 and outlook
HP November weekly call option implied volatility is at 52, December is at 30, January is at 23, February is at 22; compared to its 26-week average of 26 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on November 25.
November 23, 2014
19:42 EDTGMGM 's Brazil market looks to be challenged again this year, FT says
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14:29 EDTHPQ3D printing draws regulatory scrutiny as its applications spread, FT says
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November 21, 2014
12:08 EDTHPQHP December volatility elevated into Q4 and outlook
HP November weekly call option implied volatility is at 41, December is at 32, January is at 23, February is at 22; compared to its 26-week average of 26 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on November 25.
08:14 EDTGMHonda warned Takata on airbags years before recalls, WSJ reports
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November 20, 2014
14:47 EDTGMMobileye sinks despite better than expected revenue, outlook
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12:00 EDTHPQAnalyst sees new competition shaking up 3D printing market
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09:10 EDTGMGeneral Motors sued by Arizona over recalls, NY Times says
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08:04 EDTHPQHP December volatility elevated into Q4 and outlook
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07:57 EDTGMIIHS crash tests results for minivans 'one of the worst', CNBC says
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November 19, 2014
16:32 EDTHPQStratasys appoints ex-Hewlett-Packard Chris Morgan as CMO
Stratasys (SSYS) appointed Chris Morgan as Senior VP and Chief Marketing Officer for Stratasys. Morgan is a 25-year veteran of HP (HPQ).
07:46 EDTHPQSymantec, Hewlett-Packard announce DRaaS solution partnership
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06:51 EDTGMRegulators push automakers for wider airbag recall, NY Times says
The National Highway Traffic Safety Administration urged automakers to recall all U.S. vehicles with airbags made by Takata, according to The New York Times. The recall of of vehicles with the airbags has been limited to two states and two territories associated with high humidity, the newspaper stated. Publicly traded companies in the space include Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
November 18, 2014
17:37 EDTGMNHTSA wants 'millions of vehicles' recalled due to Takata air bags, CNBC reports
The National Highway Traffic Safety Administration, or NHTSA, is calling for a nationwide recall of "millions of vehicles" due to Takata air bags that could inflate with too much force and injure drivers, reports CNBC. The NHTSA stated that the agency will "use the full extent of its statutory powers" if the recall is not conducted quickly, CNBC added. Publicly traded companies in the space include Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
November 17, 2014
06:07 EDTGMDeadline extended for GM compensation claims, AP reports
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November 14, 2014
17:13 EDTGMAppaloosa gives quarterly update on stakes
NEW STAKES: NXP Semiconductors (NXPI), Lorillard (LO), Alibaba (BABA), and Shire (SHPG). INCREASED STAKES: Whirlpool (WHR), Priceline (PCLN), Delta (DAL), CBS (CBS), and General Motors (GM). DECREASED STAKES: American Airlines (AAL), Disney (DIS), Apple (AAPL), MGM Resorts (MGM), and Eastman Chemical (EMN). LIQUIDATED STAKES: Expedia (EXPE), AIG (AIG), Prudential (PRU), Celanese (CE), and ASML Holding (ASML).
16:39 EDTGMBerkshire Hathaway gives quarterly update on stakes
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07:32 EDTGMHayman Capital gives quarterly update on stakes
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