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Stock Market & Financial Investment News

News Breaks
January 2, 2013
06:33 EDTMA, USB, BMPI, WU, AXP, DFS, WMT, JPMPrepaid debit card market in U.S. attracts many players, Bloomberg reports
The fast-growing U.S. market for prepaid debit cards is attracting a number of new players, as firms angle to sell more cards, part of the financial services business that holds as much as $1.7B in potential fees for banks seeking new revenue streams, reports Bloomberg. One firm, BillMyParents (BMPI) signed teen star Justin Bieber as a pitchman, while other up and comers, including a firm catering to recovering drug addicts and alcoholics, are stepping up with their own products. Reference Link
News For JPM;AXP;USB;WMT;WU;MA;DFS;BMPI From The Last 14 Days
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February 13, 2015
09:06 EDTWMTWal-Mart shares remain overvalued, says Wolfe Research
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07:31 EDTWMTMexico forms alliance with Wal-Mart to improve farmworker lives, LA Times says
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07:20 EDTAXPAmerican Express downgraded to Underperform from Buy at BofA/Merrill
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07:17 EDTAXPAmerican Express price target lowered to $85 from $90 at JPMorgan
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06:19 EDTAXPAmerican Express share weakness may persist near-term, says Citigroup
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06:13 EDTJPMJPMorgan Asia investment bank Vice Chairman steps down, Financial Times says
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05:06 EDTAXPStocks with implied volatility movement; AXP EXPE
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February 12, 2015
16:57 EDTAXPOn The Fly: Closing Wrap
Stocks on Wall Street began the session in positive territory, thanks in part to the ceasefire brokered between Russia and Ukraine as well as the ongoing debt discussions between Greece and Eurozone leaders. Another contributor may have been oil prices, which continues to rally from their low point of a couple of weeks ago. The move in stocks was broad based, though the tech-heavy Nasdaq led the way with a gain of about 1%. ECONOMIC EVENTS: In the U.S., retail sales decreased 0.8% in January, versus expectations for a 0.4% decline. When autos and gas components are removed, the core reading was up 0.2%, versus expectations for an increase of 0.4%. Initial jobless claims rose 25K to 304K in the week ended January 7, versus expectations for 287K first-time claims. Business inventories edged up 0.1% in December, versus expectations for them to grow 0.2%. In Europe, Russian, Ukrainian, German and French leaders came to terms on a cease-fire to begin Sunday. In Greece, yesterday's Eurogroup meeting failed to reach a final bailout deal, but reports afterward seemed to have an optimistic tone about the continuation of talks. Sweden’s Riksbank became the latest central bank to cut interest rates and said it would undertake a program of sovereign bond buying. COMPANY NEWS: Shares of American Express (AXP) dropped $5.53, or 6.43%, to $80.48 after the company announced that its U.S. co-brand and merchant acceptance agreements with Costco (COST) are set to end in March of next year. Costco has been one of the few big U.S. merchants that to-date had accepted AmEx cards exclusively. American Express CEO Ken Chenault said in a call about the news that the company now expects that overall earnings growth in 2015 will likely be "flat to down modestly" year-over-year... Expedia (EXPE) rose $11.35, or 14.51%, to $89.57 after it agreed to acquire rival Orbitz Worldwide (OWW) for $12 per share. Orbitz shares surged $2.10, or 21.83%, to $11.72 after the deal was announced, while Priceline (PCLN), which be the last big global online travel agency left standing next to Expedia if the deal is approved, advanced $31.89, or 3.01%, to $1,091.95. MAJOR MOVERS: Among the notable gainers was TripAdvisor (TRIP), which rose $15.13, or 22.49%, to $82.40 amid the big deal in its industry and after its own fourth quarter revenue beat analysts' expectations. Also higher after its quarterly report was networking products giant Cisco Systems (CSCO), which rallied $2.53, or 9.39%, to $29.46. Among the noteworthy losers following their earnings reports were NetApp (NTAP), which fell $2.90, or 7.28%, to $36.90, and Kellogg (K), which dropped $3.00, or 4.52%, to $63.30. Also lower were shares of Tesla Motors (TSLA), which declined $9.92, or 4.66%, to $202.88 after the electric car maker unexpectedly reported losses for its fourth quarter, delivered fewer vehicles than expected and guided toward a significant increase in spending for the coming year. INDEXES: The Dow rose 110.24, or 0.62%, to 17,972.38, the Nasdaq gained 56.43, or 1.18%, to 4,857.61, and the S&P 500 advanced 19.95, or 0.96%, to 2,088.48.
16:02 EDTAXPOptions Update; February 12, 2015
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15:38 EDTUSB, JPMFed to release results from latest bank stress tests in March
The Federal Reserve Board on Thursday announced that results from the latest supervisory stress tests conducted as part of the Dodd-Frank Act will be released on Thursday, March 5, and the related results from the Comprehensive Capital Analysis and Review, CCAR, will be released on Wednesday, March 11. Results for both exercises will be released at 4:30 p.m. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
12:43 EDTMA, DFS, AXPOn The Fly: Midday Wrap
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11:17 EDTDFS, MA, AXPEnd of Costco pact sinking shares of American Express
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11:02 EDTAXPAmerican Express falls after losing Costco partnership, levels to watch
The shares are down over 5.9% at time of writing to $80.91. At that price, support is at the session low at $80. Resistance is at $82.13.
10:12 EDTAXPHigh option volume stocks
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09:16 EDTAXPAmerican Express down 7.5% after saying Costco pact to end in 2016
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07:49 EDTWMTWal-Mart February volatility increases into Q4 and outlook
Wal-Mart February call option implied volatility is at 23, March is at 17, June is at 14; compared to its 26-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on February 19.
07:41 EDTAXPAmerican Express to hold a conference call
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07:33 EDTAXPAmerican Express says merchant agreements with Costco set to end March 31, 2016
American Express (AXP) announced that its U.S. co-brand and merchant acceptance agreements with Costco Wholesale (COST) are set to end on March 31, 2016.
07:29 EDTDFSExecutives' Club of Chicago to hold a luncheon meeting
Chairman & CEO David Nelms of Discover Financial Services is the guest speaker at the Executives' Club of Chicago Global Leaders Luncheon being held in Chicago on February 12 at 12:15 pm.
07:00 EDTWMTWal-Mart price target raised to $95 from $87 at Credit Suisse
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