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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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October 16, 2014
08:06 EDTFIATYAlmunia says political pressure around Google case 'unprecented,' WSJ reports
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06:34 EDTF, GM, FIATYChina to punish automakers that miss fuel standards, Reuters reports
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October 15, 2014
13:27 EDTGMGM faces $10B suit due to recalls, Bloomberg says
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10:16 EDTGMGeneral Motors reports Q3 worldwide sales up 2% to 2.45M units
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06:43 EDTSSNLFFacebook, Samsung could collaborate to develop mobile content, Korea Times says
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06:34 EDTSSNLFIHS: Apple, Samsung set to drive fingerprint sensor market, DigiTimes says
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06:32 EDTSSNLFTablet supply chains expect lagging orders in Q4, DigiTimes reports
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October 14, 2014
10:01 EDTGM, FOn The Fly: Analyst Downgrade Summary
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10:01 EDTFOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
07:24 EDTFFord upgraded to Neutral from Underperform at Buckingham
06:20 EDTGMGeneral Motors downgraded to Buy from Conviction Buy at Goldman
Goldman removed General Motors from the Conviction Buy List and lowered estimates to to cuts in North American and European production and a difficult pricing environment. The firm maintains its Buy rating and views risk/reward as favorable and expects reasonably strong comps over then next two quarters. Price target lowered to $47 from $48.
06:15 EDTFFord downgraded to Neutral from Buy at Goldman
Goldman downgraded Ford to Neutral citing lack of near-term catalysts and less balance sheet optionality. Price target lowered to $17 from $21.
October 13, 2014
12:10 EDTGMGM lawyer says 27 people eligible for ignition switch compensation, AP reports
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11:00 EDTFFord adding 850 more jobs at Ford Rouge Center to build new F-150
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10:23 EDTFFord to hire 850 workers for Dearborn Rouge factories, WSJ says
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07:02 EDTFFord and Carfax expand partnership
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06:44 EDTGM, FIATY, FRegulators seeking banks' auto loan data, Reuters reports
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October 12, 2014
17:21 EDTGMTesla ahead of other car makers on semiautonomous driving system, WSJ says
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17:04 EDTSSNLFSamsung could climb 50%, Barron's says
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14:32 EDTSSNLFSamsung creates faster Wi-Fi technology, Bloomberg says
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