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Stock Market & Financial Investment News

News Breaks
February 14, 2014
12:19 EDTTRLA, IM, AIG, JOSB, LOGM, WTW, CHGG, CRAY, MWOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday with the Dow and S&P 500 outperforming the Nasdaq. The major averages began the session with little fanfare and remained close to the flat line in early trading. The slightly better than expected University of Michigan consumer confidence reading provided a bit of a catalyst for buyers, who have managed to push all but the Nasdaq back into positive ground. ECONOMIC EVENTS: In the U.S., import prices edged up 0.1% and export prices rose 0.2% in January. Industrial production fell 0.3% in January, versus expectations for it to have grown 0.3%. The preliminary February University of Michigan consumer confidence reading was unchanged from the final January figure at 81.2. In Europe, the eurozone's economy expanded at a 0.3% pace last quarter, versus analysts' consensus for expansion of 0.2%. COMPANY NEWS: Jos. A. Bank (JOSB) announced a deal to buy Everest Holdings, the parent company of the Eddie Bauer brand, for cash and stock worth about $825M. Jos. A. Bank, which has been both the pursuer and the pursued in a long running, public negotiation with peer Men's Wearhouse (MW), said the deal give it the right to terminate its agreement in the event an unsolicited offer is made to acquire Jos. A. Bank that it determines would "reasonably be expected to create greater value" for shareholders. Jos. A. Bank also said it will buy back 4.6M of its common shares, or 16.4% of its outstanding shares, if the Eddie Bauer deal moves forward. Afterward, Men's Wearhouse said will "evaluate its options" with regard to Jos. A. Bank... After last night's closing bell, AIG reported fourth quarter profits that beat expectations, raised its dividend by 25% and increased its stock buyback plan by $1 billion. Additionally, Bloomberg reported that the insurer will cut its workforce by 3%. Shares of AIG rose in after-hours trading, but are down 2% near midday after Deutsche Bank called the quarter "messy" and a "modest disappointment" and Barclays lowered its price target on the stock to $56 from $60 to reflect slower than expected P&C margin improvement. MAJOR MOVERS: Among the notable gainers following their better than expected quarterly reports were supercomputer maker Cray (CRAY), which surged 32%, cloud-based solutions company LogMeIn (LOGM), which jumped 23%, and computer parts distributor Ingram Micro (IM), which rose 13%. Among the noteworthy losers was Weight Watchers (WTW), which fell 26% after its fourth quarter profit missed expectations and the company sharply cut its fiscal 2014 earnings outlook. Also lower following their own earnings reports were learning platform operator Chegg (CHGG), which fell 17%, and home buying website Trulia (TRLA), which dropped 18%. INDEXES: Near midday, the Dow was up 73.93, or 0.46%, to 16,101.52, the Nasdaq was down 7.04, or 0.17%, to 4,233.63, and the S&P 500 was up 4.41, or 0.24%, to 1,834.24.
News For JOSB;MW;WTW;AIG;CRAY;LOGM;IM;CHGG;TRLA From The Last 14 Days
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July 28, 2015
08:32 EDTAIGAIG to acquire First Principles, terms not disclosed
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08:31 EDTAIGAIG names Douglas Dachille as Chief Investment Officer
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July 27, 2015
10:01 EDTIMNimboxx signs distribution agreement with Ingram Micro
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July 24, 2015
07:43 EDTLOGMLogMeln price target raised to $84 from $72 at RBC Capital
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July 23, 2015
19:06 EDTLOGMOn The Fly: After Hours Movers
UP AFTER EARNINGS: Amazon (AMZN), up 17.2%... Marketo (MKTO), up 15.4%... Juniper Networks (JNPR), up 9.9%... NetGear (NTGR), up 9.2%... Qlik Technologies (QLIK), up 9.1%... LogMeIn (LOGM), up 9.9%... Pandora (P), up 10.3%... Mitek Systems (MITK), up 7.8%... Proofpoint (PFPT), up 5.1%... Supreme Industries (STS), up 4.7%... Skyworks (SWKS), up 3.6%... IGI Laboratories (IG), up 3.7%... Maxim Integrated Products (MXIM), up 4.1%... Boyd Gaming (BYD), up 4.1%... Trinity Industries (TRN), up 5%... Trinity Industries (N), up 3.2%... Starbucks (SBUX), up 4.5%. ALSO HIGHER: Qorvo (QRVO), up 2.7% after Skyworks reported quarterly results. DOWN AFTER EARNINGS: TrueCar (TRUE), down 33.1% after reporting quarterly results and cutting fiscal 2015 revenue guidance... Tripadvisor (TRIP), down 9.2%... Align Technology (ALGN), down 7.4%... Capital One (COF), down 4.9%... PMC-Sierra (PMCS), down 9.1%... athenahealth (ATHN), down 2.1%. ALSO LOWER: Sunesis Pharmaceuticals (SNSS), down 59.7% after giving vosaroxin regulatory update... Avalanche Biotechnologies (AAVL), down 5.6% after CEO Thomas Chalberg, Jr., Ph.D. resigns and Hans Hull name interim CEO.
16:42 EDTLOGMLogMeln sees FY15 adjusted EPS $1.51-$1.57, consensus $1.40
Sees FY15 revenue $265M-$266.5M, consensus $263.85M. Sees adjusted EBITDA $63M-$65M.
16:40 EDTLOGMLogMeln sees Q3 revenue $68.8M-$69.3M, consensus $67.73M
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16:40 EDTLOGMLogMeln sees Q3 adjusted EPS 43c-44c, consensus 36c
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16:38 EDTLOGMLogMeln reports Q2 adjusted EPS 35c, consensus 33c
Reports Q2 revenue $64.83M, consensus $64.01M.
July 21, 2015
05:36 EDTCRAYCray awarded $53M contract by Bureau of Meteorology in Australia
Cray announced the Bureau of Meteorology in Australia has awarded the company a contract worth up to $53M to provide a Cray XC40 supercomputer and a Cray Sonexion 2000 storage system. This further strengthens Cray's leadership position in the global operational weather and climate community as an increasing number of the world's leading centers rely on Cray supercomputers to run their complex meteorological and mission critical models.
July 16, 2015
09:09 EDTAIGAIG expands presence in Chinese-American life insurance market
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08:54 EDTAIGBofA/Merrill U.S. life insurance analyst holds analyst/industry conference call
U.S. Life Insurance Analyst Weiss, along with Jill Hoffman, VP of Government Affairs and Felicia Smith, VP & Senior Counsel for Regulatory Affairs from the Financial Services Roundtable, discuss the Labor Department's recent proposal to impose fiduciary standards on the sale of retirement products on an Analyst/Industry conference call to be held on July 20 at 11 am.
08:05 EDTAIGAIG launches design, construction risk mitigation service for luxury homes
AIG Private Client Group said it introduced the insurance industry’s first risk management and mitigation service for residential construction projects with budgets of $5M or more. The service seeks to minimize risks related to natural catastrophe, water damage, security, fire and life safety, and potential threats to fine art or other collections that will be located in a home. AIG’s Smart Build recommendations come from the company’s deep experience protecting some of the world’s largest luxury homes, as well as extensive analysis of AIG claims data and overall loss trends.

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