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Stock Market & Financial Investment News

News Breaks
August 13, 2013
08:46 EDTOWW, DGIT, APP, MRK, AVNR, NQ, SINA, LLY, YUM, XRX, JCPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: NQ Mobile (NQ), up 10%... Sina (SINA), up 6.5%. ALSO HIGHER: Digital Generation (DGIT), up 38% after selling television ad delivery business for $485M, announcing plan to form new company that will hold DG's online business... Avanir Pharmaceuticals (AVNR), up 9% after announcing an agreement to co-promote Merck (MRK) therapies in U.S. long-term care institutions... Eli Lilly (LLY), up 4.3% after lung cancer drug met endpoint in trial... Xerox (XRX), up 3% following upgrade to Buy from Neutral at Citigroup... J.C. Penney (JCP), up 1.4% after Bill Ackman resigns from board. DOWN AFTER EARNINGS: American Apparel (APP), down 4.5%. ALSO LOWER: Yum! Brands (YUM), down 3.2% after announcing July same-store sales in its China division fell 13%, including a 16% drop at KFC stores... Orbitz Worldwide (OWW), down 12% after announcing PAR Capital Management has sold 8.1M of its 24.6M shares of Orbitz Worldwide stock.
News For JCP;XRX;YUM;LLY;SINA;NQ;AVNR;MRK;APP;DGIT;OWW From The Last 14 Days
Check below for free stories on JCP;XRX;YUM;LLY;SINA;NQ;AVNR;MRK;APP;DGIT;OWW the last two weeks.
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July 13, 2014
13:11 EDTLLYLilly study finds combination therapy better in removing amyloid-beta protein
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July 11, 2014
06:13 EDTYUMTaco Bell to launch new high-end menu, Business Insider reports
Yum! Brands' Taco Bell is launching a high-end menu that's rich in protein and low in calories, reports Business Insider. The menu, called the Cantina Power Menu, will come with all-white-meat chicken or grilled USDA-select steak that could have more than 20 grams of protein or fewer than 500 calories. The menu will launch on July 17. Reference Link
July 10, 2014
17:02 EDTYUMCosi names Scott Carlock as CFO
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16:12 EDTMRKMedivation names Dawn Svoronos as Chief Commercial Officer
Medivation (MDVN) announced Dawn Svoronos has been appointed as its chief commercial officer, reporting to David Hung, M.D., founder, CEO and president of Medivation. Svoronos currently is a member of Medivation's Board of Directors and is a former president of Europe and Canada for Merck & Co. (MRK), where she oversaw commercial operations in approximately 30 EU and EU accession countries. Svoronos will lead Medivation's commercial organization on an interim basis and will participate in the company's search for a permanent chief commercial officer. Cheryl Cohen, Medivation's former chief commercial officer, has left the company to pursue other opportunities.
July 9, 2014
20:03 EDTAPPInvestigation into ousted American Apparel CEO to end soon, Reuters reports
The investigation into the conduct of American Apparel's ousted CEO Dov Charney will end in "another week or two," according to Reuters, citing a source close to the matter. The source said that FTI Consulting will submit its findings to a special committee for review, and the special committee will decide whether Charney may return as an employee. The source also said that American Apparel plans to appoint a new interim CEO in the "next few weeks if not sooner." Reference Link
16:36 EDTAPPAmerican Apparel enters Support Agreement with Standard General
In a regulatory filing, American Apparel, entered into a Nomination, Standstill and Support Agreement with Standard General, or SG, Standard General Master Fund L.P., P Standard General Ltd. and Dov Charney. The Support Agreement relates to, among other things, the composition of the company’s board, the provision by SG of financial support to the company in an aggregate amount up to $25M, and the creation of a special committee of the board to oversee the SG The Standard General Group also agreed to certain standstill and voting limitations and SG affirmed its commitment to the company’s core values, including the company’s sweatshop-free, “Made in the USA” manufacturing philosophy and maintaining the company’s manufacturing headquarters in Los Angeles, CA. Other key points of the agreement include: A reconstitution of the company’s board in which five of the current seven members, including Charney, will voluntarily step down. The departing directors will be replaced by two new directors, chosen jointly by SG and the current board, and three new directors designated by SG. All but one of the new directors are expected to be independent directors and unaffiliated with either SG or Charney. The board will continue to be led by its current co-chairmen, David Danziger and Allan Mayer. Mr. Charney will not serve as a board member or be nominated by the company or SG as a board member. A continuation of the ongoing investigation into Charney’s alleged misconduct overseen by a newly appointed, independent board committee. Charney will serve as strategic consultant until the end of the investigation. Based on the findings of the investigation, the committee will determine if it is appropriate for Charney to serve as CEO or an officer or employee of American Apparel. Adoption of a standstill agreement through the company’s 2015 annual meeting that, among other things, prohibits SG and Charney from acquiring any additional shares in American Apparel and limits their vote to no more than one third of the company’s shares on any issue put to stockholders; their remaining shares would be voted proportionately to the vote of other stockholders.
12:05 EDTJCPStocks with call strike movement; JCP DDD
3D Systems (DDD) November 65 call option implied volatility decreased 2% to 47, J.C. Penney (JCP) November 11 call option implied volatility decreased 5% to 47 according to IVolatility.
09:32 EDTAPPAmerican Apparel, Standard General said to reach $25M deal, NY Times reports
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08:43 EDTAPPAmerican Apparel said to reach $25M deal with Standard General, Bloomberg says
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08:39 EDTNQNQ Mobile responds to Muddy Waters report from July 7
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07:00 EDTAPPAmerican Apparel ex-CEO loses support of some workers, Reuters says
Dethroned American Apparel CEO Dov Charney supported employees in the clothing industry with his view in favor of immigration rights and target to keep jobs in the U.S., but some workers are backing the board's decision to fire the former CEO, according to Reuters, citing comments from some of the retailer's employees. Reference Link
July 8, 2014
13:46 EDTLLYSanofi files patent infringement suit against Eli Lilly, Reuters says
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13:36 EDTAPP1832 Asset liquidates passive stake in American Apparel
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10:28 EDTXRXOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: A.O. Smith (AOS) initiated with an Outperform at Northland... Abengoa Yield (ABY) initiated with a Buy at BofA/Merrill... Aflac (AFL) initiated with a Buy at Drexel Hamilton... Aspen Aerogels (ASPN) initiated with a Buy at Canaccord... Boston Scientific (BSX) initiated with a Buy at CRT Capital... CSC (CSC) initiated with an Underweight at Morgan Stanley... Consumer Portfolio (CPSS) initiated with a Buy at Compass Point... Credit Acceptance (CACC) initiated with a Sell at Compass Point... Intuitive Surgical (ISRG) initiated with a Neutral at BTIG... Masimo (MASI) initiated with a Buy at BTIG... Memorial Resource (MRD) initiated with an Overweight at Barclays... MetLife (MET) initiated with a Buy at Drexel Hamilton... Mueller Water (MWA) initiated with a Market Perform at Northland... New York REIT (NYRT) initiated with a Market Perform at JMP Securities... NorthStar Asset Management (NSAM) initiated with a Market Perform at Keefe Bruyette... Ophthotech (OPHT) initiated with an Outperform at Oppenheimer... Performance Sports Group (PSG) initiated with an Outperform at Wedbush... Prudential (PRU) initiated with a Buy at Drexel Hamilton... RCS Capital (RCAP) initiated with a Neutral at BofA/Merrill... Santander Consumer (SC) initiated with a Neutral at Compass Point... Silicon Laboratories (SLAB) initiated with a Buy at MKM Partners... St. Jude Medical (STJ) initiated with a Buy at CRT Capital... Starwood Waypoint (SWAY) initiated with an Outperform at Keefe Bruyette... T-Mobile (TMUS) initiated with an Outperform at BMO Capital... TherapeuticsMD (TXMD) initiated with an Outperform at FBR Capital... Waddell & Reed (WDR) initiated with an Outperform at William Blair... Xerox (XRX) initiated with an Overweight at Morgan Stanley.
09:07 EDTAPPAmerican Apparel reports notice from Lion asserting event of default
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07:36 EDTYUMYum! Brands price target raised to $100 from $89 at Oppenheimer
Oppenheimer increased its price target on Yum!, citing upcoming positive earnings catalysts, the likelihood of a multiple increase as appreciation for strengthening sales rises, and the transition of valuation to 2015 estimates. The firm thinks there is little risk that the company's earnings will miss expectations and it reiterates an Outperform rating.
07:17 EDTMRKLeerink raises immuno-oncology market forecast to $36B
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06:47 EDTXRXXerox initiated with an Overweight at Morgan Stanley
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06:31 EDTAPPAmerican Apparel shareholders sue firm, ousted CEO, Bloomberg says
American Apparel shareholders are suing the firm and ousted CEO Dov Charney over allegations that directors ignored Charney’s misconduct which violated the company’s sexual harassment and discrimination rules, according to Bloomberg, citing the lawsuit. Reference Link
06:26 EDTAPPLion Capital demands repayment of $10M loan from American Apparel, NY Times says
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