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Stock Market & Financial Investment News

News Breaks
August 22, 2014
16:42 EDTHTZ, PETM, DG, GME, AEO, RAX, DLTR, LB, CRM, EBAY, FDO, HPQ, FL, ISIL, IFNNY, ONNN, SMTC, FCS, IRFMarket finishes week higher on economic data, earnings
Stocks ended the week higher after several pieces of economic data beat expectations and investors cheered results from a number of companies, offsetting weak overseas economic data and somewhat hawkish statements from the Fed. MACRO NEWS: Weekly jobless claims, housing starts for July, a manufacturing index for July, existing home sales for July, and leading economic indicators for July all beat expectations... Overseas economic data was less upbeat, however, as purchasing managers' indexes for the euro zone and China came in below expectations... Minutes of the Fed's last meeting stated that some FOMC members believe that interest rates may have to be raised sooner than expected. Meanwhile, Fed Chairman Yellen reiterated in a speech today that the Fed's policy changes would be based on upcoming economic data. However, she did say that the FOMC s questioning the degree of slack in the economy. COMPANY NEWS: M&A news flow was strong against this week. German semiconductor company Infineon (IFNNY) agreed to buy its smaller peer, International Rectifier (IRF). Other names in the space, including Semtech (SMTC), Intersil (ISIL), Fairchild Semiconductor (FCS) and ON Semiconductor (ONNN), rose in sympathy... Dollar General (DG) made a $78.50 per share bid for Family Dollar (FDO), in an effort to trump a previous $74.50 per share bid for Family Dollar by Dollar Tree (DLTR). Family Dollar rejected Dollar General's offer based on antitrust concerns... PetSmart (PETM) announced that it would pursue strategic alternatives, including a potential sale of the company... The website The Information reported that eBay (EBAY) is considering spinning off its PayPal digital payments unit... Hedge fund Blue Harbour Group announced that it had obtained a 6.4% stake in cloud computing company Rackspace (RAX)... Carl Icahn disclosed an 8.5% stake in Hertz (HTZ), but the car rental company withdrew its fiscal 2014 guidance, saying that it expects its full-year results to be well below its previous guidance range... In earnings news, cloud computing company Salesforce.com (CRM), apparel retailers American Eage (AEO) Foot Locker (FL) and L Brands (LB), and video game retailer Gamestop (GME), were among the companies that rose after reporting their results. HP (HPQ) and PetSmart dropped slightly after reporting their results.
News For IFNNY;IRF;SMTC;ISIL;FCS;ONNN;DG;FDO;DLTR;PETM;EBAY;RAX;HTZ;CRM;AEO;FL;LB;GME;HPQ From The Last 14 Days
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May 18, 2015
08:46 EDTDLTRDollar Tree weakness an attractive buying opportunity, says UBS
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07:24 EDTCRMSalesforce buyout rumors may cloud earnings focus, says Susquehanna
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06:19 EDTISILIntersil downside risk limited, says Piper Jaffray
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May 15, 2015
17:33 EDTDG, RAX, DLTRPoint72 Asset Management gives quarterly update on stakes
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17:08 EDTEBAYSoros Fund gives quarterly update on stakes
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17:07 EDTFDOTrian Fund gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: PepsiCo (PEP), Mondelez (MDLZ), Bank of New York Mellon Group (BK), and Du Pont (DD). DECREASED STAKES: Family Dollar (FDO), and Ingersoll-Rand (IR). LIQUIDATED STAKES: Lazard (LAZ).
14:43 EDTGMEGameStop May weekly volatility elevated into Q1 and outlook
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14:15 EDTDLTRDollar Tree volatility flat into Q1 and outlook
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13:37 EDTHTZAvis spikes after Hertz discloses raising prices ahead of summer travel season
Shares of Avis Budget Group (CAR) and Hertz Global Holdings (HTZ) are rallying after Hertz said it is raising prices in anticipation of a busy summer travel season. WHAT'S NEW: In a press release from last night, Hertz said it is committed to maintaining supply consistent with correlated demand drivers, such as gross domestic product and airline passenger volume. The company said it will moderate its calendar 2015 U.S. fleet plan to reflect a capacity increase of 1.5%-2.5% over 2014 levels. The company has also identified 200 of its U.S. off-airport locations that it will close by the end of the second quarter. WHAT'S NOTABLE: Hertz noted that based on its revised fleet capacity plan and expected strong seasonal demands it is implementing broad-based price increases for its Hertz, Dollar and Thrifty brands at U.S. rental locations for pick ups starting on June 14, and for all dates forward. U.S. airport retail car rentals increased $5 per day and $20 per week. Off-airport retail car rentals increased $3 per day and $10 per week. The company added that weekend rates also reflect price increases of $5 per day for airport rentals and $3 per day for off-airport rentals. PRICE ACTION: In afternoon trading, shares of Hertz are up 4.5% while shares of its rival Avis Budget are up over 8.5%.
12:13 EDTEBAYThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
11:08 EDTEBAYOmega Advisors gives quarterly update on stakes
NEW STAKES: Targa Resources (TRGP), Targa Resources Partners (NGLS), Humana (HUM), Dow Chemical (DOW), and Twenty-First Century Fox (FOXA). INCREASED STAKES: Kinder Morgan (KMI), Chimera Investment Corporation (CIM), AerCap Holdings (AER), Shire (SHPG), and KKR & Co. (KKR). DECREASED STAKES: eBay (EBAY), Altisource Portfolio Solutions (ASPS), Caesars Entertainment (CZR), Navient (NAVI), and TerraForm Power (TERP). LIQUIDATED STAKES: HCA Holdings (HCA), Gilead (GILD), Cabot Oil & Gas (COG), and Apple (AAPL).
11:00 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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10:55 EDTHTZ, EBAY, RAXJANA Partners gives quarterly update on stakes
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10:20 EDTRAXOptions with decreasing implied volatility
Options with decreasing implied volatility: NLNK ARWR CTRP RAX KING AOL WPZ RL Z MBI
08:24 EDTAEOAmerican Eagle, Express should be bought ahead of results, says BMO Capital
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08:20 EDTLBL Brands volatility flat into Q1 and outlook
L Brands June call option implied volatility is at 21, August is at 23; compared to its 90-day average of 22, suggesting non-directional price movement into the expected release of Q1 results on May 21.
07:41 EDTAEOAmerican Eagle volatility elevated into Q1 and outlook
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07:40 EDTHPQHP split to be positive catalyst, says Deutsche Bank
Deutsche Bank believes HP's split will be a positive catalyst for shares this year. It views the stock as attractively priced ahead of the Q2 results on May 21 and says HP remains a top pick for 2015. Deutsche has a Buy rating on the name with a $45 price target.
06:13 EDTEBAYISS, Glass Lewis advise Intel investors to vote 'no' on eBay CEO, WSJ reports
ISS and Glass, Lewis & Co, two influential proxy advisory firms, are recommended Intel (INTC) investors vote against the reelection of eBay (EBAY) CEO John Donahoe to the company's board, The Wall Street Journal reports. Citing what it characterized as a poor attendance record, Glass Lewis commented "We view this as a failure by this director to fulfill a fundamental responsibility to represent shareholders at such meetings," while ISS said Donahoe "lacked a valid excuse" for attending less than 75% of the meetings held by the Intel board and committees he serves on in 2014. Intel's annual shareholders meeting is scheduled for May 21. Reference Link
05:52 EDTGMEApril NPD video game software sales rose 13%, says Piper Jaffray
Piper Jaffray notes April NPD video game software sales increased 13% year-over-year with next-generation software revenue up 200% versus the prior year. Piper keeps Overweight ratings on Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO).
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