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Stock Market & Financial Investment News

News Breaks
June 3, 2014
12:26 EDTHSH, KKD, ZQK, SSNLF, IDCC, FIATY, PF, F, GM, PPC, TSN, ACHCOn The Fly: Midday Wrap
Stocks on Wall Street began the session in negative territory and spent most of the morning there. At one point the averages turned mixed with the Dow and S&P in positive ground while the Nasdaq continued to lag, but all three slipped back into the red before long, which is where they stood near noon. ECONOMIC EVENTS: In the U.S., factory orders rose 0.7% in April from the revised March figure, topping the consensus forecast for a 0.5% increase. In China, the government's official services purchasing managers' index hit a 6-month high, rising to 55.5 in May from 54.8 in April. COMPANY NEWS: Shares of Hillshire Brands (HSH) jumped 9% to trade above $58 as the bidding war for the meat producer continues. Pilgrim's Pride (PPC) confirmed that it submitted a revised proposal to acquire Hillshire for $55.00 per share in cash, which is up from its prior offer of $45 and tops a rival bid of $50 per share that was made by Tyson Foods (TSN). For its part, Hillshire said its board has agreed to provide information to, and conduct separate talks with Pilgrimís Pride and Tyson about their recent unsolicited proposals, but Hillshire cautioned that it does not have the right to terminate its Pinnacle Foods (PF) merger agreement on the basis of either of the two companies' takeover proposals... Despite its recall woes, General Motors (GM) reported that its U.S. sales grew 12.6% from the prior year in May. Fiat's (FIATY) Chrysler unit also reported a double-digit percentage increase in its U.S. sales last month, while Ford (F) reported that its retail sales grew 3%, powering the company to its strongest May result since 2004. Despite the strong sales reports, shares of both GM and Ford were up just a fraction of a percent near midday. MAJOR MOVERS: Among the notable gainers was InterDigital (IDCC), which advanced over 19% after the company announced a patent license agreement with Samsung (SSNLF) and increased its Q2 revenue guidance. Also higher was Acadia Healthcare (ACHC), which rose nearly 15% after it agreed to acquire Partnerships in Care in a deal that analysts at Wells Fargo expect to be "meaningfully accretive." Among the noteworthy losers following their earnings reports and guidance were surfing, skateboarding and snowboarding apparel retailer Quiksilver (ZQK), which plunged 40%, and doughnut maker Krispy Kreme (KKD), which fell over 14%. INDEXES: Near midday, the Dow was down 24.33, or 0.15%, to 16,719.30, the Nasdaq was down 8.13, or 0.19%, to 4,229.07, and the S&P 500 was down 1.97, or 0.1%, to 1,923.00.
News For HSH;TSN;PPC;GM;F;PF;FIATY;IDCC;SSNLF;ZQK;KKD;ACHC From The Last 14 Days
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July 10, 2014
09:56 EDTF, FIATYFord, Fiat Chrysler inquire about EU changes, FT says
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09:50 EDTFFord 'committed' to South Africa, minimizes worries over strikes, Reuters says
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09:07 EDTIDCCInterDigital appoints Chief Licensing Counsel, Chief Licensing Officer
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07:54 EDTZQKQuiksilver announces additional licensing agreements
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07:36 EDTSSNLFSamsung facing new child labor claims at Chinese supplier, FT says
A week after Samsung Electronics assured that there was no underage labor involved in making its products, China Labor Watch has made a new claim to have found evidence of five child workers at a Samsung supplier in southern China, reported Financial Times. Reference Link
06:26 EDTSSNLFTablet quarterly shipments fall for first time to 56M on year, DigiTimes says
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06:24 EDTGMGeneral Motors to replace faulty ignition switch kits, Detroit News says
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06:06 EDTGMGM recalling Saab convertibles due to safety defect, Detroit News reports
Around 28,790 Saab convertibles from the 2004-2011 model years are being recalled by General Motors, as the driver's seat belt retractor can break, the Detroit News reports. Reference Link
July 9, 2014
09:47 EDTF, FIATY, GMNew car sales in India rose 15% in June, WSJ reports
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09:43 EDTGMGeneral Motors, Manchester United debut sponsored shirt for 2014-15 season
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09:21 EDTGMDelphi CEO to testify about GM ignition switches, Automotive News says
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08:31 EDTSSNLFRovi renews, expands patent license agreement with Samsung
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07:52 EDTGMJapan leading drive for fuel cell vehicles, FT says
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06:39 EDTSSNLFGlobal LCD TV shipments to increase to 210.8M units in 2014, DigiTimes says
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06:39 EDTSSNLFSamsung's virtual reality headset called Gear VR, Sam Mobile reports
The first picture of Samsung's rumored virtual reality headset has leaked on Sam Mobile, a Samsung news website. The headset, which will be called Gear VR, features a modular design that will let users dock in a Galaxy device into the front of the headset. Reference Link
06:28 EDTGMGM Korea employees approve strike amid stalled wage discussions, Reuters says
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06:28 EDTSSNLFInvestors urge Samsung to raise dividends, restart buybacks, WSJ reports
A number of U.S. investors have taken large stakes in Samsung (SSNLF) with some of them like Perry Capital, Yacktman Asset Management and Artisan Partners (APAM) pushing executives to increase dividends and restart share buybacks, reports the Wall Street Journal. The demands have come after a low return to shareholders despite cash reaching new highs. Reference Link
06:17 EDTGMGM CEO, general counsel to testify before Senate subcommittee, WSJ reports
Mary Barry, the CEO of General Motors (GM), and the company's general counsel, Mike Millikin, have been called to testify next week before a Senate subcommittee looking at why it took the automaker almost 11 years to recall older cars equipped with a faulty ignition switch, the Wall Street Journal reports. Delphi Automotive (DLPH) CEO Rodney O'Neal and Kenneth Feinberg have also been called as witnesses. Reference Link
06:16 EDTSSNLFQuclomm places FinFET chip orders with Samsung, DigiTimes reports
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06:15 EDTSSNLFTSMC to speed up development of 19nm process, DigiTimes reports
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