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Stock Market & Financial Investment News

News Breaks
February 25, 2013
12:04 EDTJCP, CRMStocks with call strike movement; CRM JCP
RT Options Scanner shows Salesforce.com (CRM) March 185 weekly call volatility increased 25% to 81, J.C. Penney (JCP) March 25 call option implied volatility increased 5% to 92 according to iVolatility.
News For JCP;CRM From The Last 14 Days
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October 13, 2014
14:35 EDTCRMSalesforce launches analytics cloud
Salesforce earlier today announced Wave, Salesforce Analytics Cloud. Wave is the first cloud analytics platform designed for every business user, making it easier than ever for anyone to explore data, uncover new insights and take action instantly from any device, the company stated. Companies can now quickly deploy sales, service and marketing analytics, or build custom mobile analytics apps, using any data source, Salesforce added.
12:16 EDTJCPOn The Fly: Midday Wrap
Stocks on Wall Street were slightly lower at midday amid light trading volume. Banks and bond markets are closed in observance of the Columbus Day holiday, though equity markets remain open. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Shares of a number of freight train operators rose after The Wall Street Journal reported that one of the companies in the sector, CSX (CSX), was approached by a larger rival, Canadian Pacific (CP), about a possible merger. Following the Journal's report, CSX rose 10% and Canadian Pacific advanced 1%, while Norfolk Southern (NSC) and Kansas City Southern (KSU) both climbed about 3%... Chrysler returned to the U.S. stock market, as shares of Fiat Chrysler began trading on the New York Stock Exchange under the symbol "FCAU." MAJOR MOVERS: Among the notable gainers was J.C. Penney (JCP), which rose 3% after the company selected Marvin Ellison, who is currently executive vice president of stores at Home Depot (HD), to become its next CEO. Also higher were Atlas Energy (ATLS), which rose 20%, and Atlas Pipeline Partners (APL), which advanced 6%, after Targa Resources Partners (NGLS) and Targa Resources (TRGP) agreed to acquire Atlas Pipeline Partners for cash and stock valued at $38.66 per APL common unit and agreed to buy Atlas Energy following the company's spin-off of its non-midstream assets. Among the noteworthy losers was Aerohive Networks (HIVE), which plunged 30% after the company lowered its guidance for the third quarter, citing weaker-than-expected order volume near the quarter's end. Also lower were shares of GoPro (GPRO), which fell over 8% after a French journalist reported that the son of racing legend Michael Schumacher attributed the severity of his father's brain injury following a skiing accident on the GoPro camera mounted to his helmet. INDEXES: Near midday, the Dow was down 32.14, or 0.19%, to 16,511.96, the Nasdaq was down 7.97, or 0.19%, to 4,268.27, and the S&P 500 was down 6.85, or 0.36%, to 1,899.28.
12:05 EDTJCPJ.C. Penney risk/reward remains balanced, says RW Baird
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10:43 EDTCRMSalesforce.com October volatility elevated into executive Q&A with Marc Benioff
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10:12 EDTJCPHome Depot bench deep, Ellison departure not surprising, says RW Baird
RW Baird said it is not surprised to see Marvin Ellison leaving Home Depot (HD) since he was likely in the running for the CEO post that went to someone else, but the firm expects a smooth internal transition and noted that it views the company's management bench as deep. Baird, which maintains its Outperform rating on Home Depot, believes J.C. Penney (JCP) is getting a strong leader with extensive retail experience in hiring Ellison.
10:08 EDTJCPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
10:06 EDTJCPJ.C. Penney rises after selecting Home Depot executive as next CEO
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08:38 EDTJCPJ.C. Penney names Marvin Ellison CEO-Designee
The board of J. C. Penney (JCP) announced the appointment of Marvin Ellison, currently executive vice president of stores at Home Depot (HD), as president and CEO-Designee, effective November 1. Ellison will also join the board. He will then succeed Myron E. Ullman, III as CEO of JCPenney on August 1, 2015. At that time, Ullman will become executive chairman of the board for a period of one year.
07:38 EDTCRMSalesforce to hold a conference
Dreamforce 2014 is being held in San Francisco on October 13-16.
06:15 EDTJCPJ.C. Penney downgraded to Sell from Neutral at UBS
UBS downgraded its rating on J.C. Penney (JCP) shares to Sell saying the company's 2017 EBITDA target of $1.2B is overly optimistic as it assumes years of market share gains against strong competitors like Macy's (M) and Kohl's (KSS). UBS halved its price target for Penney shares to $5 from $10. The retailer's stock closed Friday down 52c to $7.12.
October 12, 2014
17:20 EDTCRMGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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October 10, 2014
10:01 EDTJCPOn The Fly: Analyst Downgrade Summary
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07:57 EDTJCPJ.C. Penney downgraded to Sell with $4 target at Maxim
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07:10 EDTJCPJ.C. Penney downgraded to Sell from Hold at Maxim
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October 9, 2014
10:00 EDTJCPOn The Fly: Analyst Downgrade Summary
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08:13 EDTJCPJ.C. Penney EBITDA guidance appears aggressive, sasy Morgan Stanley
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07:56 EDTJCPJ.C. Penney downgraded at Craig-Hallum
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07:43 EDTJCPJ.C. Penney downgraded to Sell from Hold at Craig-Hallum
07:34 EDTCRMSalesforce.com coverage assumed with a Buy at MKM Partners
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06:56 EDTJCPJ.C. Penney pullback a buying opportunity, says Piper Jaffray
Piper Jaffray views yesterday's pullback in shares of J.C. Penney as a buying opportunity, saying the company's turnaround "is very much underway." Piper notes that despite saying Q3 comps are tracking low-single-digits versus prior guidance of mid-single-digits, J.C. Penney management reiterated full-year guidance. The firm reiterates an Overweight rating on Penny with a $13 price target following yesterday's analyst day.
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