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Stock Market & Financial Investment News

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February 24, 2012
12:10 EDTKND, CVLT, CSCO, GPS, CRM, DELL, CROX, JCP, MMSI, NDSN, AAPL, DECKOn The Fly: Mid-Day Wrap
Stocks on Wall Street were higher at mid-day, with the Dow again clinging to the 13,000 level. Each of the major indices is near its high of the day at the lunch hour. The new home sales report showed its first decline in four months while the consumer confidence reading was above expectations. Neither had a great effect on the market as it continues its daily pattern from the last two weeks of moving in a narrow trading range, but the general trend continues to be higher... ECONOMIC EVENTS: In the U.S., the final University of Michigan Consumer Confidence reading for February was 75.3, exceeding expectations of 73.0. New home sales declined 0.9% in January, but December's figures were revised higher, resulting in a seasonally adjusted 321,000-unit annual rate. Economists had expected sales at a 315,000-unit rate... MARKET NEWS: J.C. Penney (JCP) reported adjusted profits that beat expectations but shares were just about flat near noon. A number of other retailers declined following their reports, with Gap (GPS), Deckers Outdoor (DECK) and Crocs (CROX) all lower... A number of big tech companies announced acquisitions, with Cisco Systems (CSCO) buying Lightwire for $271M, Apple (AAPL) acquiring app-search engine Chomp for an undisclosed amount, and Dell (DELL) purchasing back-up software maker AppAssure Software. A drop in shares of CommVault Systems (CVLT) was attributed to Dell's news, as CommVault may lose some Dell business following the deal and had been viewed as a potential buyout target... MAJOR MOVERS: Among the notable gainers were Nordson (NDSN) and Salesforce.com (CRM), after their earnings reports. Noteworthy losers included Kindred Healthcare (KND) and Merit Medical (MMSI), following reports that disappointed... INDICES: Near noon, the Dow was up 20.24, or 0.16%, to 13,004.93; the Nasdaq was up 10.83, or 0.37%, to 2,967.81; and the S&P 500 was up 4.73, or 0.35%, to 1,368.19.
News For JCP;GPS;DECK;CROX;CSCO;AAPL;DELL;CVLT;NDSN;CRM;KND;MMSI From The Last 14 Days
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November 10, 2014
16:00 EDTAAPLOptions Update; November 10, 2014
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15:57 EDTGPSWorldwide Business Research to hold a conference
ProcureCon for Digital & Marketing Services 2014 is being held in San Antonio on November 11-13.
15:43 EDTDELLAmerican Petroleum Institute to hold a conference
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15:29 EDTCSCOCisco November volatility increases into Q1 and outlook
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13:05 EDTJCPJ.C. Penney November volatility elevated into Q3 and holiday outlook
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12:42 EDTAAPLFireEye details hack attack found on Apple operating system
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12:39 EDTAAPLFireEye has uncovered iOS flaw that leaves devices vulnerable, CNBC reports
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12:36 EDTJCPAbercrombie, American Eagle sink after analyst downgrades
Shares of specialty teen apparel retailers Abercrombie & Fitch (ANF) and American Eagle Outfitters (AEO) are falling after a number of analysts issued negative notes on the companies. WHAT'S NEW: Oppenheimer analyst Anna Andreeva downgraded Abercrombie & Fitch to Perform from Outperform. The company's earnings outlook has become less clear as its U.S. brand has not yet become popular, and retail brand turnarounds usually take awhile, Oppenheimer analyst Anna Andreeva wrote in a note to investors. Additionally, Abercrombie's international business, which has deteriorated further this year, faces "mounting uncertainty, the analyst stated. The analyst slashed her price target on the name to $30 from $50. Meanwhile, Barclays analyst Matthew McClintock downgraded American Eagle Outfitters to Equal Weight from Overweight. McClintock has become more pessimistic about the outlook for American Eagle's comparative store sales in the second half of 2014, given recent data points from a number of retailers, including Abercrombie & Fitch, Kohl's (KSS), Wal-Mart (WMT), J.C. Penney (JCP), and Ann Inc. (ANN). The analyst said he saw no reason why American Eagle should significantly outperform the overall apparel sector. McClintock cut his price target on the name to $11 from $15. Meanwhile, the analyst lowered his rating on the Softline Retail sector to Negative from Positive, as he believes that the sector, which includes companies that sell products like apparel, towels, and jewelry - is facing structural difficulties that are likely to persist for the next several years. Separately, research firm Janney Capital downgraded Abercrombie to Neutral from Buy in a note to investors today. PRICE ACTION: In early afternoon trading, Abercrombie & Fitch sank 3.5% to $28.50 and American Eagle dropped 4% to $12.40.
09:35 EDTAAPLActive equity options trading
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09:20 EDTJCPOn The Fly: Pre-market Movers
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08:22 EDTCSCONetwork equipment makers slip after AT&T projects lower 2015 capital spending
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07:54 EDTCRMChecks on Salesforce.com positive, says Oppenheimer
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07:34 EDTAAPLApple Pay seen making up 1% of Whole Foods transactions since launch, Dudas says
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07:22 EDTGPSU.S. Retail Softlines sector downgraded to Negative at Barclays
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07:12 EDTCSCOCA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
06:27 EDTAAPLGT Advanced accuses Apple of 'bait-and-switch' in unsealed documents, WSJ says
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06:00 EDTAAPLApple implied volatility of 19 at lower end of index mean range
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05:48 EDTGPSU.S. Retail Softlines industry cut to Negative at Barclays
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