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Stock Market & Financial Investment News

News Breaks
January 17, 2014
16:32 EDTCOF, V, INTC, RDEN, MS, AXP, SSNI, BBRY, UPSOn The Fly: Closing Wrap
Stocks on Wall Street were mixed, with the Dow serving as the only index to close in the green following a post-earnings gain from American Express (AXP), as well as a strong session from Visa (V) which gained more than 4.5%. With today's close the S&P 500 served as the only major average closing the week with losses, though no index logged a weekly move greater than 0.4%. ECONOMIC EVENTS: In the U.S., housing starts fell 9.8% to a rate of just under 1M in December, though that decline was roughly in-line with expectations. Building permits dropped 3.0% from the prior month, versus an expected decrease of 0.3%. Industrial production rose 0.3% in December, meeting the consensus forecast of economists. The preliminary January reading of the University of Michigan consumer sentiment index came in at 80.4, versus expectations for a 83.5 reading. JOLTS data showed job openings rose 70K in November to about 4M. COMPANY NEWS: Intel (INTC) fell 69c, or 2.60%, to $25.85 after last night reporting mixed fourth quarter results and fiscal 2014 guidance. The chipmaking giant reported earnings per share that missed estimates by 1c on revenue that narrowly beat expectations and said there were signs of stabilization in the personal computer market in the quarter. Intel's 2014 revenue guidance was somewhat disappointing, with the company saying it expects revenue to be flat compared to the just completed year... UPS (UPS) fell 58c, or 0.58%, to $99.91, closing well off its worst levels, after pre-announcing weaker than expected fourth quarter results. UPS estimated that its fourth quarter earnings per share would be $1.25, shy of analysts' estimates for $1.43. The shipping giant cited the compressed holiday shopping season and an "unprecedented" level of online shopping that featured a surge of orders at the very end of the season, which forced the company to take "extraordinary measures" that hurt profits. MAJOR MOVERS: Among the notable gainers was BlackBerry (BBRY), up 53c, or 6.19%, to $9.09 after short-selling blog Citron Research disclosed a long position on shares and put a "minimum" price target on the stock of $15, saying the stock's current position creates a "unique trading opportunity." Also higher following their quarterly reports were banking major Morgan Stanley (MS), up $1.40, or 4.38%, to $33.40, and credit card giant American Express (AXP), up $3.19, or 3.63%, to $90.97. Among the noteworthy losers was Capital One (COF), down $4.05, or 5.30%, to $72.39 after the company's fourth quarter profit came in below expectations and the stock was downgraded to Neutral from Positive at Susquehanna. Also lower were Silver Spring Network (SSNI), down $5.81, or 24.72%, to $17.69 and Elizabeth Arden (RDEN), down $6.54, or 18.96%, to $27.96, after both companies last night warned that their quarterly profit and sales would come in below expectations. INDEXES: The Dow was up 41.55, or 0.25%, to 16,458.56; the S&P 500 was down 7.19, or 0.39%, to 1,838.70; the Nasdaq was down 21.11, or 0.5%, to 4,197.58.
News For INTC;UPS;AXP;V;BBRY;MS;COF;SSNI;RDEN From The Last 14 Days
Check below for free stories on INTC;UPS;AXP;V;BBRY;MS;COF;SSNI;RDEN the last two weeks.
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April 11, 2014
12:42 EDTINTCOn The Fly: Analyst Initiation Summary
ASML (ASML) initiated with a Cautious at ISI Group... Analog Devices (ADI) initiated with a Buy at ISI Group... Applied Materials (AMAT) initiated with a Strong Buy at ISI Group... Aruba Networks (ARUN) initiated with a Buy at SunTrust... Broadcom (BRCM) initiated with a Neutral at ISI Group... CSX (CSX) initiated with an Outperform at Macquarie... Cisco (CSCO) initiated with a Buy at SunTrust... F5 Networks (FFIV) initiated with a Neutral at SunTrust... Genesee & Wyoming (GWR) initiated with a Neutral at Macquarie... Intel (INTC) initiated with a Neutral at ISI Group... Juniper (JNPR) initiated with a Buy at SunTrust... KLA-Tencor (KLAC) initiated with a Neutral at ISI Group... Lam Research (LRCX) initiated with a Strong Buy at ISI Group... Linear Technology (LLTC) initiated with a Cautious at ISI Group... Maxim Integrated (MXIM) initiated with a Neutral at ISI Group... Micron (MU) initiated with a Strong Buy at ISI Group... NVIDIA (NVDA) initiated with a Neutral at ISI Group... NXP Semiconductors (NXPI) initiated with a Strong Buy at ISI Group... Qualcomm (QCOM) initiated with a Strong Buy at ISI Group... Riverbed (RVBD) initiated with a Neutral at SunTrust... SanDisk (SNDK) initiated with a Neutral at ISI Group... Teradyne (TER) initiated with a Buy at ISI Group... Texas Instruments (TXN) initiated with a Neutral at ISI Group... Trulia (TRLA) initiated with a Neutral at Susquehanna... Union Pacific (UNP) initiated with a Neutral at Macquarie... Zillow (Z) initiated with a Positive at Susquehanna... Flamel Technologies (FLML) initiated with a Buy at Roth Capital... Parker Drilling (PKD) initiated with an Accumulate at Tudor Pickering.
07:37 EDTMSGoldman, Morgan, Citi probed by FINRA over bond deals, WSJ says
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07:18 EDTINTCJefferies a buyer of Intel shares ahead of Q1 results
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April 10, 2014
16:20 EDTINTCIntel initiated with a Neutral at ISI Group
Target $26.
12:13 EDTBBRYBlackBerry CEO: No intention of selling handset unit, Globe and Mail reports
BlackBerry CEO John Chen said his comments that he would consider exiting the handset business were taken out of context, and that there are no immediate plans to sell the business, The Globe and Mail reports. Reference Link
06:41 EDTMSGo Daddy hires Morgan Stanley, JPMorgan for IPO, NY Times says
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06:35 EDTMSMobile banking presents opportunity and risks for banks, WSJ reports
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06:13 EDTINTCIntel to launch Haswell Refresh CPUs, 9-series chipsets in May, DigiTimes says
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April 9, 2014
19:49 EDTBBRYBlackBerry would consider handset unit sale, Reuters says
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07:00 EDTINTCBofA, Intel fire 3K workers, leaving Costa Rica shocked, Bloomberg says
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06:35 EDTMSRegulators increase leverage ratio requirement for large banks, NY Times says
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06:27 EDTMSBig banks must add capital to comply with new rules, WSJ reports
A of January 1, 2018, the U.S.'s eight largest banks -- including Citigroup (C), JPMorgan (JPM) and Goldman Sachs (GS) -- must add up to $68B in extra capital to comply with a new rule intended to help firms weather losses during periods of market stress, the Wall Street Journal. The banks will be required to maintain well above the minimum levels of capital held against assets on their books. Banks must report the new levels next year. Reference Link
06:20 EDTINTCIntel plans 1,500 job cuts in Cosa Rica, WSJ reports
Intel is planning to lay off about 1,500 employees in Costa Rica, the Wall Street Journal reports. The company will move longtime assembly and test operations in the country to three locations in Asia. The latest job cuts reduce Intel's workforce by about 1.4%. Reference Link
April 8, 2014
08:08 EDTINTCCost to Apple, Google, Intel, of 'no-poaching' deal may be high, DealBook says
Some of the of the biggest names in tech, including Apple (AAPL), Google (GOOG), Intel (INTC)and Adobe (ADBE), are at the center of a class-action suit that seeks $9B as compensation for employees who contend the tech giants colluded to prevent their employees from being hired at rivals, reported The New York Times' DealBook. Reference Link
April 7, 2014
19:57 EDTMSFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
19:17 EDTBBRYBlackBerry wins patent suit against NXP
BlackBerry (BBRY) announced that a federal jury ruled in favor of BlackBerry in a patent infringement case brought by NXP (NXPI) in the U.S. District Court, Middle District of Florida, Orlando Division. The jury found both that BlackBerry did not infringe NXP's patents, and that the patents NXP asserted against BlackBerry are invalid.
10:00 EDTINTCOn The Fly: Analyst Upgrade Summary
Agios Pharmaceuticals (AGIO) upgraded to Overweight from Neutral at JPMorgan... Alcoa (AA) upgraded to Hold from Sell at Deutsche Bank... Align Technology (ALGN) upgraded to Outperform from Market Perform at Barrington... Analog Devices (ADI) upgraded to Neutral from Sell at Goldman... B&G Foods (BGS) upgraded to Outperform from Sector Perform at RBC Capital... Citigroup (C) upgraded to Neutral from Underweight at HSBC... Intel (INTC) upgraded to Outperform from Sector Perform at Pacific Crest... JetBlue (JBLU) upgraded to Neutral from Sell at Goldman... Kindred Healthcare (KND) upgraded to Outperform from Sector Perform at RBC Capital... Lennox (LII) upgraded to Outperform from Market Perform at Wells Fargo... Newmont Mining (NEM) upgraded to Hold from Sell at Deutsche Bank... PBF Energy (PBF) upgraded to Buy from Neutral at Citigroup... Renasant (RNST) upgraded to Outperform from Market Perform at Raymond James... Select Medical (SEM) upgraded to Outperform from Sector Perform at RBC Capital... Ultra Petroleum (UPL) upgraded to Outperform from Market Perform at Raymond James... Under Armour (UA) upgraded to Buy from Neutral at Sterne Agee... Hercules Technology (HTGC) upgraded to Buy from Hold at Sandler ONeill... Standard Pacific (SPF) upgraded to Outperform from Market Perform at Raymond James... Yelp (YELP) upgraded to Outperform from Perform at Oppenheimer... Netflix (NFLX) upgraded to Outperform from Perform at Oppenheimer... Pandora (P) upgraded to Outperform from Neutral at Wedbush.
07:16 EDTVRetailers muscle into competitive mobile payment market, Reuters says
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06:58 EDTMSDark markets could cause more harm than high-frequency trading, Reuters says
After a book by financial author Michael Lewis sparked worries that high-speed traders have been rigging the U.S. stock market, former regulators and academics say a more serious threat to investors could be the increasing amount of trading that happens outside of exchanges, reported Reuters. Top internalizers include units of KCG Holdings (KCG), Citadel, UBS (UBS), and Citigroup (C). Dark pool operators include Credit Suisse (CS) and Morgan Stanley (MS). In an attempt to earn back some of the retail orders, exchanges such as IntercontinentalExchange Group's (ICE) New York Stock Exchange, Nasdaq (NDAQ), and BATS Global Markets, have allowed brokerages to place dark pool-style orders on their platforms, with the trade hidden until after it is executed. Reference Link
05:55 EDTINTCIntel upgraded to Outperform from Sector Perform at Pacific Crest
Pacific Crest upgraded its rating on Intel (INTC) shares to Outperform with a $31 price target citing improving corporate PC demand and expectations the company's Grantley server platform will drive spending at traditional IT customers in 2015. Shares of Intel closed Friday down 25c to $26.16.
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