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Stock Market & Financial Investment News

News Breaks
January 23, 2013
16:30 EDTFSLR, STRI, MCP, AGN, MAPP, COH, CREE, HLF, GOOG, IBM On The Fly: Closing Wrap
Stocks on Wall Street were higher following better than expected earnings from tech giants IBM (IBM) and Google (GOOG). Near midday, the House voted to extend the debt limit until May 19, as expected, and the markets did not react to the news. Eyes on the Street are focused on this evening's report from Nasdaq's largest component, Apple (AAPL)... ECONOMIC EVENTS: In the U.S., the light economic calendar included the Home Price Index, which showed prices rose 0.6% in November, versus expectations for an increase of 0.7%. Also of note, the International Monetary Fund lowered its outlook for 2013 global output growth to 3.5% from 3.6%... COMPANY NEWS: IBM shares gained $8.64, or 4.41%, to $204.72 after its earnings report and guidance exceeded expectations. Google similarly reported earnings that beat consensus. A number of firms increased their price targets on shares, including Jefferies taking their target up to $875. Google advanced $38.63, or 5.5%, to $741.50 following its earnings report... Herbalife (HLF) was again in the news as Greenlight Capital's quarterly letter to investors made the rounds this afternoon. There was some speculation that the letter contained a veiled reference to a short position in Herbalife, however, The Wall Street Journal reported that Greenlight's David Einhorn told investors he does not currently have any bet on the stock. However, Einhorn admitted to profiting from a short position in Herbalife held in 2012 that has since been closed. Shares of Herbalife were down $1.13, or 2.56%, to $43.01 on the day... Among notable companies moving after reporting earnings were Cree (CREE), up $7.38, or 22.05%, to $40.85 after beating expectations, and Coach (COH), down $9.93, or 16.36%, to $50.75 after its earnings fell short of expectations and its Q4 SSS fell 2%... MAJOR MOVERS: Among notable gainers was MAP Pharmaceuticals (MAPP), which rose $9.13, or 58.6%, to $24.71 after it was announced last night that the company had agreed to be acquired by Allergan (AGN) for $25 per share. Allergan shares fell $1.10, or 1.04%, to $104.65 following the announcement. Among notable losers was Molycorp (MCP), which fell 95c, or 10.76%, to $7.88 after disclosing that the company sees Q4 and 1H13 production below expectations and shares were downgraded at Dahlman Rose. Also lower were shares of STR Holdings (STRI), down 79c, or 25.48%, to $2.31 after announcing last night that it expects to lose First Solar (FSLR) as a customer and shares were downgraded to Hold at Craig-Hallum... INDICES: The Dow was up 66.96, or 0.49%, to 13,779.17; the Nasdaq was up 10.49, or 0.33%, to 3,153.67; and the S&P 500 was up 2.22, or 0.15%, to 1,494.78.
News For IBM;GOOG;HLF;CREE;COH;MAPP;AGN;MCP;STRI;FSLR From The Last 14 Days
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October 7, 2014
17:47 EDTAGNValeant, Pershing Square planning to boost Allergan bid by $15 a share, DJ says
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15:21 EDTAGNAllergan warms to sale as Actavis plans new approach, Reuters says
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15:01 EDTAGNAllergan up 1.5% following report on Actavis planned approach on merger
14:59 EDTAGNActavis plans new approach to Allergan, Reuters reports
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14:39 EDTHLFFTC probe of Herbalife seen lasting 'well into' next year, NY Post reporter says
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14:19 EDTHLFHerbalife expects discipline, but not shutdown, following FTC probe, FBN says
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13:59 EDTHLFHerbalife expects some discipline, not shutdown, from FTC, Gasparino says
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13:45 EDTGOOGVringo says several important events scheduled for Q4
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13:33 EDTGOOGGoogle executive says Google+ here to stay, Re/code reports
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09:18 EDTGOOGRackspace partnership with Google positive for sentiment, says Wells Fargo
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09:05 EDTCREECree achieves production milestone with U.S. DoD
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09:03 EDTGOOGRackspace to offer managed IT services support for full Google Apps for Work
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08:03 EDTGOOGVonage announces appointment of Alan Masarek as CEO
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07:48 EDTAGNSalix reinstated with a Buy at Jefferies
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07:48 EDTGOOG, IBMU.S. Chamber of Commerce to hold a discussion
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07:12 EDTAGNAllergan requests Ackman be hindered from voting at meeting, Bloomberg says
In an effort to avoid an unsolicited $54B acquisition offer from Valeant Pharmaceuticals (VRX), Allergan (AGN) filed a request in a California court for a judge to hinder Bill Ackmanís Pershing Square from voting its 10% stake at the December shareholder meeting, according to Bloomberg, citing the filing. A hearing regarding Allergan's request is set to occur on October 28. Reference Link
06:29 EDTIBMIBM, Globalfoundries reignite discussions for chip division, Bloomberg says
IBM and Globalfoundries have restarted discussions for IBM to sell its unprofitable chip production division, according to Bloomberg, citing a person familiar with the matter. The source said that IBM could pay Globalfoundries more than $1B to take over the unit. Reference Link
06:17 EDTCREENavigant: Market for LEDs in residential apps set to explode, DigiTimes says
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06:13 EDTHLFHerbalife names ex-FTC commissioner to lead compliance group
Herbalife yesterday announced the appointment of Pamela Jones Harbour to the newly created role of SVP, global member compliance and privacy, reporting to Mark Friedman, EVP and general counsel. Harbour will develop and enhance policies and infrastructure that ensure effective education, training and mentoring programs for the nearly 4 million independent Herbalife members worldwide, underpinned by robust and consistent monitoring and enforcement procedures. In addition to her compliance responsibilities, Harbour will also coordinate the companyís global privacy and cyber security efforts. Harbour served as a Commissioner at the Federal Trade Commission from 2003-2010 and a prosecutor at the New York State Attorney Generalís office for 12 years.
06:07 EDTGOOGYouTube may still be interested in programming for kids, Re/code reports
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