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Stock Market & Financial Investment News

News Breaks
March 18, 2014
16:24 EDTHTZ, MSFT, AAPL, MRCY, PVA, SFLY, DSWOn The Fly: Closing Wrap
Stocks on Wall Street were higher as Russia confirmed it will look to annex Crimea, but that it is not seeking to further split up Ukraine. Investors may be fatiguing from reacting to the situation regarding the two nations, but stock futures did react favorably during this morning's televised account of Russian President Putin's parliament meeting. The Federal Reserve began its two-day policy meeting, with Chair Janet Yellen scheduled to give her first press conference after the meeting's conclusion. Investors await any potential changes in the central bank's forward guidance and are interested to see if the bank will continue to taper its monthly asset purchases at the same pace. ECONOMIC EVENTS: In the U.S., consumer prices rose 0.1% in February, matching the consensus forecast of economists. Housing starts fell 0.2% from the prior month in February to a rate of 907K, while building permits rose 7.7% to a rate of 1.02M. In Europe, Vladimir Putin formally called for Crimea and Sevastopol to be annexed and added to Russia, but added in his address to his parliament that Russia is not seeking to split up Ukraine. A measure of German economic expectations dropped more-than-expected to 46.6 in March, with the Crimea crisis attributed as a contributing factor. COMPANY NEWS: Rental car company Hertz (HTZ) announced plans to separate its equipment rental business, which had been telegraphed in recent media reports. The company also reported quarterly earnings and gave a fiscal 2014 earnings outlook that missed expectations. Additionally, Hertz announced a $1B share repurchase plan. While the stock traded more than 3x its daily average volume, shares of the company closed the session down 14c, or 0.51%, at $27.08... Microsoft (MSFT) was the Dow's biggest gainer, adding $1.50, or 3.94%, to $39.55 after reports that the company will introduce its Office suite for Apple's (AAPL) iPad at a press event on March 27. Analysts at Barclays said in a note to investors that potential monetization benefits from Office to the company from are under appreciated, while analysts at Citigroup said the potential launch of Office on iPad is unlikely to be a "meaningful driver" for the company. MAJOR MOVERS: Among the notable gainers was Mercury Systems (MRCY), which rose $2.12, or 19.19%, to $13.17 after The Wall Street Journal reported that the company is in the early stages of selling itself in a deal that could be worth around $500M. Also higher was Penn Virginia (PVA), up $2.13, or 15.65%, to $15.74 after activist investor Soros Fund Management disclosed that it has taken a 9.18% stake and urged the company to explore strategic alternatives. Among the noteworthy losers was Shutterfly (SFLY), down $2.39, or 4.74%, to $48.04 after analysts at Cowen downgraded shares two notches to Underperform from Outperform, saying the company's recent growth slowdown has continued into 2014. Also lower was DSW (DSW), down $1.09, or 2.73%, to $38.90 after its quarterly revenue disappointed and the company said it sees fiscal 2014 revenues to grow 6%-7%, with comparable-store sales growth in the low-single digit range. INDEXES: The Dow was up 88.97, or 0.55%, to 16,336.19, the Nasdaq was up 53.36, or 1.25%, to 4,333.31, and the S&P 500 was up 13.42, or 0.72%, to 1,872.25.
News For HTZ;MSFT;AAPL;MRCY;PVA;SFLY;DSW From The Last 14 Days
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August 10, 2014
16:51 EDTAAPLCourt rejects $324M settlement in tech hiring conspiracy, NYT says
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August 8, 2014
16:16 EDTAAPLU.S. judge rejects Apple, Google antitrust hiring accord, Bloomberg reports
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16:00 EDTAAPLOptions Update; August 8, 2014
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09:37 EDTAAPLActive equity options trading on open
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08:42 EDTMSFTMicrosoft has made strong progress in cloud, says Pacific Crest
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08:32 EDTMSFTVMware, others could benefit from increased cloud adoption, says Pacific Crest
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07:31 EDTAAPLChina refutes report of Apple product procurement ban, Re/code reports
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August 7, 2014
16:00 EDTAAPLOptions Update; August 7, 2014
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09:36 EDTAAPLActive equity options trading on open
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06:43 EDTAAPLApple poaches YSL's Catherine Monier, 9to5Mac reports
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06:33 EDTMSFTAnti-trust investigations in China reignite protectionism worries, Reuters says
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06:19 EDTMSFT, AAPLMicrosoft in talks to open Fifth Avenue store, Daily News reports
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August 6, 2014
17:37 EDTPVASoros lowers Penn Virginia stake to 8.4% from 9.53%
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16:01 EDTAAPLOptions Update; August 7, 2014
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09:36 EDTAAPLActive equity options trading on open
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08:44 EDTAAPLApple products excluded from Chinese government procurement list, Bloomberg says
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06:38 EDTMSFTAccenture says complying with SAIC in Microsoft probe, Reuters says
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06:35 EDTMSFTSAIC enacts fresh raids on Accenture, Microsoft, Reuters says
China's State Administration for Industry and Commerce said on its website that it conducted fresh raids on Microsoft (MSFT) and Accenture (ACN) after the firm noted last week that Microsoft is being probed for anti-trust crimes, according to Reuters, citing an e-mail statement from a Beijing-based Microsoft spokeswoman. Reference Link
06:17 EDTMSFTAlibaba courting Nokia employees on website, WSJ reports
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06:09 EDTAAPLApple, Samsung to drop all litigation outside U.S., Re/code reports
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