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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
Check below for free stories on HPQ;GM;JOY;AXAS;PVH;VRA the last two weeks.
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July 23, 2014
07:53 EDTGMWider group of engineers at GM knew about switch issues, WSJ says
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July 22, 2014
11:07 EDTJOYOptions with increasing implied volatility: HLF JOY PSEC NI
10:38 EDTGMGM recalls 2015 Chevrolet Silverado 2500s, 3500s for power steering defect
GM is recalling certain model year 2015 Chevrolet Silverado 2500 and 3500 HD vehicles manufactured October 1, 2013 to June 6 and 2015 GMC Sierra 2500 and 3500 HD vehicles manufactured September 30, 2013, to June 6. The power steering hose clamp may disconnect from the power steering pump or gear, causing a loss of power steering fluid. GM will notify owners, and dealers will inspect the vehicles to make sure the power steering hose clamps are properly secured, free of charge. The recall is expected to begin in early August. Reference Link
06:17 EDTHPQGlobal notebook shipments to increase 4.3% in Q3, DigiTimes Research says
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05:55 EDTHPQStocks with implied volatility movement; NQ HPQ
Stocks with implied volatility movement; NQ Mobile (NQ) 169, Hewlett-Packard (HPQ) 28 according to iVolatility.
July 21, 2014
11:57 EDTGMChinese electric vehicle maker Kandi surges after tax break news
Shares of Chinese electric car maker Kandi Technologies (KNDI) are surging after a Chinese newspaper reported that electric cars made outside of China would not qualify for a key tax break in the country. WHAT'S NEW: A key sales tax will not be waived on purchases of electric cars made outside of China, said Su Bo, China's vice-minister of the Industry and Information Technology Ministry, according to China Daily. Buyers of electric vehicles made in China will not have to pay a purchase tax from September 1, 2014 until the end of 2017, China Daily stated. WHAT'S NOTABLE: Tesla Motors (TSLA), Nissan (NSANY) and GM (GM) have all sought to sell electric vehicles in China. PRICE ACTION: In late morning trading, Kandi Technologies' stock rose $1.66, or 8.5%, to $21.28. The shares are well off their high for the day of $22.22, but they have surged 80% so far this year. Tesla shares, which had spent some of the morning in slightly negative ground, were up about 1% near $222 per share just before noon.
11:04 EDTJOYOptions with increasing implied volatility:
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10:43 EDTHPQFormer Autonomy CFO challenges proposed HP settlement, Re/code reports
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07:15 EDTHPQO'Reilly to hold a conference
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06:21 EDTGMGeneral Motors eyeing budget cars for Europe, FT reports
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06:12 EDTGMGeneral Motors delays recall in another ignition switch case, ABC News says
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06:10 EDTJOYStocks with implied volatility movement; ABBV JOY
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July 19, 2014
20:10 EDTGMGM issues stop-sale on certain 2014 Cadillac CTS sedans, Bloomberg says
General Motors has issued a stop-sale order dated July 8 to its dealers for 2014 Cadillac CTS sedans that use a standard key ignition, says Bloomberg. Reference Link
July 18, 2014
12:21 EDTGMCable ad upfront volumes may drop 4% or more, WSJ says
Two of the U.S.'s biggest marketers, Procter & Gamble (PG) and General Motors (GM), have pulled back on their TV network advertising commitments in advance of the "upfront" selling season for cable networks, said The Wall Street Journal, citing people familiar with the matter. The overall volume of ad dollars committed to cable networks during the upfront, which is still under way, could be down 4% or more from last year, people familiar with the situation said. Notable owners of cable television stations include 21st Century Fox (FOXA), Time Warner (TWX), Disney (DIS), CBS (CBS), Comcast (CMCSA), Discovery (DISCA), Viacom (VIAB), and AMC Networks (AMCX). The report added that cutbacks partly reflect a shift of tv ad budgets to digital media, including online video. Google (GOOG) has a large presence in online video with YouTube and Facebook (FB) is taking steps to grow in the area. Reference Link
July 17, 2014
16:13 EDTHPQHP appoints Whitman Chairman, Alcoa's Kleinfeld joins board
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07:46 EDTGMSenate Commerce & Transportation Committee to hold a hearing
The Subcommittee on Consumer Protection, Product Safety and Insurance holds a hearing entitled, "Examining Accountability and Corporate Culture in Wake of the GM Recalls" with General Motors CEO Barra and EVP Milllikin and President & CEO O'Neal of Delphi Automotive on July 17 at 10 am. Webcast Link
06:53 EDTGMGM deems some cars with same recalled switch 'safe', Reuters says
Even though GM issued a recall for millions of cars with defected ignition switches, the automobile manufacturer has concluded that over 2M other vehicles with the same switches are safe, according to Reuters, citing comments from GM spokesman Alan Adler. The car models which have not been recalled include fullsize crossovers such as the Buick Enclave and the Chevrolet Traverse manufactured from 2007 to the present. Reference Link
06:38 EDTGMGeneral Motors hires outside law firm to review litigation practices, WSJ says
General Motors has hired an outside law firm to review the way it handles litigation, reports the Wall Street Journal. The company's General Counsel Michael Millikin plans to say in a testimony at a Senate hearing Thursday that a "well-respected outside law firm" will conduct a "zero-based review" of his department. Reference Link
06:28 EDTHPQHP increasing fire-safety audits in China, WSJ reports
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05:50 EDTJOYStocks with implied volatility movement; TWX JOY
Stocks with implied volatility movement; Time Warner (TWX) 34, Joy Global (JOY) 30 according to iVolatility.
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