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Stock Market & Financial Investment News

News Breaks
July 29, 2014
06:33 EDTHRSHarris reports Q4 RF Communication revenue $493M, orders $361M
Reports Q4 Integrated Network Solutions revenue $373M; Reports Q4 Government Communications Systems revenue $480M.
News For HRS From The Last 14 Days
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February 9, 2016
11:32 EDTHRSOptions with increasing put volume
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February 5, 2016
09:01 EDTHRSHarris awarded $28M IDIQ contract to repair U.S. Navy electronic warfare tech
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February 3, 2016
08:51 EDTHRSHarris weakness overdone, says Sterne Agee CRT
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February 2, 2016
12:03 EDTHRSOn The Fly: Top stock stories at midday
Wall Street began the session in negative territory and the averages have remained there throughout the day as oil once again weighs on stocks. The price of oil has slid another 4%, giving the commodity a roughly 10% loss over the past two trading sessions. The market's late day rally yesterday gave hope for a decoupling between equities and oil prices, but that appears to be a one day reprieve as the stocks are back in lock-step with crude prices. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 5% in the wake of its report of better than expected quarterly earnings and revenue, pushing Google's parent company to overtake Apple (AAPL) as the world's most valuable publicly-traded company in the process... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.5% amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8% in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Pfizer (PFE) reported better than expected fourth quarter results, but forecast 2016 revenue and earnings below analysts' estimates, pushing its shares down fractionally. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 4.5% after Bloomberg reported that ChemChina was close to a deal to buy the company for nearly $43B. Also higher were Mattel (MAT), Michael Kors (KORS), and Fabrinet (FN), which gained 12%, 22%, and 12.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Twitter (TWTR), which fell 8% after it was downgraded to Sell at Stifel and following a report claimed that tweets on the service are down 50% from their peak. Also lower were AGCO (AGCO), Harris (HRS), and Pitney Bowes (PBI), which were down 10%, 9.5%, and 11%, respectively, after reporting quarterly earnings. In addition, Ford (F) and General Motors (GM) lost 4% and 3.6%, respectively, after reporting U.S. sales for the month of January. INDEXES: Near midday, the Dow was down 239.86, or 1.46%, to 16,209.32, the Nasdaq was down 64.83, or 1.4%, to 4,555.54, and the S&P 500 was down 27.87, or 1.44%, to 1,911.51.
09:31 EDTHRSHarris names Rahul Ghai as SVP, CFO, effective February 11
Harris Corporation has named Rahul Ghai, SVP and CFO, reporting to Harris Chairman, President and CEO William M. Brown, effective February 11, 2016. Ghai succeeds Mick Lopez, who is leaving Harris to pursue other opportunities. Ghai joined Harris in March 2015 as Vice President, Finance - Integration and has led all finance activities associated with the integration of Exelis.
06:39 EDTHRSHarris reports Q2 Communication Systems revenue $489M
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06:38 EDTHRSHarris expects to exit 2017 with annual run-rate savings of $140M-$150M
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06:34 EDTHRSHarris raises FY16 EPS to $5.70-$5.80 from $5.60-$5.80, consensus $5.76
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06:33 EDTHRSHarris reports Q2 non-GAAP EPS $1.49, consensus $1.36
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January 29, 2016
10:07 EDTHRSHarris awarded $316M joint polar satellite system contract from NASA
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