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Stock Market & Financial Investment News

News Breaks
June 5, 2014
12:28 EDTHPQ, GM, JOY, AXAS, PVH, VRAOn 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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July 16, 2014
06:19 EDTGMFord, GM, Chrysler not interested in Tesla patents, Detroit News says
Ford (F), General Motors (GM), and Chrysler (FIATY) either have little interest in Tesla's (TSLA) EV patents or the companies are not sharing their plans, reports the Detroit News. Reference Link
July 15, 2014
17:45 EDTGMGeneral Motors shares should climb 30%, Barron's says
GM shares look inexpensive at current prices and shares should climb over 30% in the next year, Barron's contends in its "Ahead of the Crowd" column. Reference Link
08:09 EDTHPQRalph Whitworth taking leave of absence at Relational INvestors
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08:05 EDTHPQHP announces interim chairman Whitworth resigns for health reasons
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08:02 EDTHPQHP announces resignation of chairman Ralph Whitworth
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06:38 EDTGMGeneral Motors, VocallQ looking to develop voice-control systems, WSJ reports
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06:27 EDTGMAutomakers backing U.S.-EU trade deal, NY Times reports
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06:27 EDTHPQHP looks to crack tablet market in India with phablets, India Times reports
HP has aggressive plans to crack the tablet market in India by breaking into the phablet space, reports the India Times. The company's VP Ivy Liang said the company wants to "crack the right products in the phablet market" as it looks to expand its wings in the Indian market following the moderate success of HP Slate Voice Tabs. HP will now also explore telecom channels for the phablet go-to-market route. Reference Link
06:06 EDTHPQHP implied volatility of 21 at lower end of index mean range
July 14, 2014
12:40 EDTGMDelphi confirms that it is not focus of investigation, Detroit News reports
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12:36 EDTGMDelphi not target of DOJ's switch investigation, Reuters reports
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11:21 EDTHPQHP added to short-term buy list at Deutsche Bank
08:34 EDTHPQPC market stability could be short-lived, Reuters says
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08:14 EDTGMFord should beat Q2 estimates while General Motors will miss, says UBS
UBS believes Ford (F) will beat Q2 estimates while General Motors (GM) will miss due to recall costs. Were it not for the recall charges, UBS thinks GM would post solid underlying results. UBS, which thinks Ford is likely to see a strong second half as product launch costs are already factored into guidance, raised its price target on the stock to $22 from $18. UBS increased its GM price target to $54 from $49. The firm keeps Buy ratings on both stocks.
07:19 EDTGMProsecutors centering GM suit around deceptive statements, Reuters says
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06:34 EDTGMGeneral Motors CEO to appear before Senate subcomittee this week, WSJ says
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July 13, 2014
15:52 EDTGMSouth Africa strike continues with impact on GM output, WSJ says
The National Union of Metalworkers in South Africa has rejected employers concessions and will continue to strike, says the Wall Street Journal. The strike has affected vehicle production at General Motors and BMW facilities in the country, added the Wall Street Journal. Reference Link
July 11, 2014
10:35 EDTGMCadillac confirms Johan de Nysschen as president
General Motors (GM) announced the appointment of Johan de Nysschen as President – Cadillac. de Nysschen will be responsible for all aspects of Cadillac globally including sales, pricing and network development, strategic brand development and marketing and product portfolio planning, including critical input for product engineering and design. de Nysschen joins the GM executive leadership team as an executive vice president of the company beginning September 1 and reports to GM President Dan Ammann. de Nysschen spent the last two years as head of the Infiniti (NSANY) brand worldwide.
09:11 EDTGMFormer head of Infiniti taking over Cadillac, CNBC reports
Johan de Nysschen, the former head of Infiniti and Audi USA, will be taking over General Motors' Cadillac division, CNBC's Phil LeBeau reports via Twitter.
08:49 EDTHPQJune CIO survey indicates strong 2H, says Morgan Stanley
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