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Stock Market & Financial Investment News

News Breaks
July 2, 2014
12:54 EDTJPM, STZ, SFLY, STEM, DAL, VITC, KR, CAMPOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after ADP's hiring report gave some reassurance that tomorrow's monthly non-farm payroll report report may be a strong one. Despite ADP's employment change report soundly beating the consensus forecast, stock index futures showed little reaction, leading to a quiet open for the broader market. The averages have moved in a narrow range since the open and have done so on light volume. ECONOMIC EVENTS: Payroll provider ADP estimated that U.S. companies added 281,000 workers to their payrolls in June, which was well above the consensus 210,000 forecast. Factory orders fell 0.5% in May, versus the forecast for them to be down 0.4%. COMPANY NEWS: JPMorgan Chase (JPM) chairman and CEO Jamie Dimon announced to employees and shareholders that he has been diagnosed with throat cancer. "The good news is that the prognosis from my doctors is excellent, the cancer was caught quickly, and my condition is curable," Dimon stated, adding that he will be able to continue to be actively involved in the business and will continue to run the company as normal... Shares of beer and wine maker Constellation Brands (STZ) advanced 3% after after its quarterly results beat expectations and the company raised its FY15 earnings view. MAJOR MOVERS: Among the notable gainers was online healthy living products retailer Vitacost.com (VITC), which jumped 27% after grocer Kroger (KR) agreed to buy the company for $280M, or $8.00 per share. Also higher was StemCells (STEM), which rose 15% after Brinson Patrick initiated coverage of the stock with an Outperform rating and $7 price target, saying it expects the company to have robust Phase II data over the next 24 months for its neural stem cells in both chronic spinal cord injury and geographic atrophy age-related macular degeneration. Another stock trading higher was Shutterfly (SFLY), which gained 14% after Bloomberg, citing sources, said the company has hired investment bank Qatalyst Partners to help it potentially sell itself. Among the noteworthy losers was CalAmp (CAMP), which fell 11% after reporting quarterly results and second quarter guidance that missed analysts' consensus estimates. Also lower were shares of Delta Air Lines (DAL), which fell 5% after reporting its passenger revenue per available seat mile, or PRASM, rose 4.5% in June and noting that corporate and domestic strength offset lower than expected international yields driven by industry-wide capacity increases and lower business demand to Latin America due to the World Cup. After Delta's report, Cowen suggested using the associated weakness in airline stocks as a buying opportunity. INDEXES: Near midday, the Dow was up 14.66, or 0.09%, to 16,970.73, the Nasdaq was up 4.68, or 0.1%, to 4,463.33, and the S&P 500 was up 0.91, or 0.05%, to 1,974.23.
News For JPM;STZ;SFLY;STEM;DAL;VITC;KR;CAMP From The Last 14 Days
Check below for free stories on JPM;STZ;SFLY;STEM;DAL;VITC;KR;CAMP the last two weeks.
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September 5, 2014
12:02 EDTDALStocks with call strike movement; DAL GILD
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10:07 EDTSFLYShutterfly worth up to $69 per share in an LBO, says Goldman
Goldman's developed LBO analysis of Shutterfly following the July 2 Bloomberg article that the company engaged Qatalyst Partners to explore strategic alternatives. The firm has no view of the likelihood of a transaction but says Shutterfly is worth $69 per share in a deal. The analyst continues to rate shares a Buy with a $56 price target given mid-to-high teens organic growth, leveraging of its investment cycle, and realization of cloud services' higher margins.
09:29 EDTKRKroger to hire 20,000 permanent employees
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09:06 EDTJPMCFTC concerned about banks shifting trading operations overseas, WSJ says
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07:26 EDTJPMApple strikes transaction fee discount deals, Bank Innovation says
Apple (AAPL) has reached deals with American Express (AXP), JPMorgan (JPM), Citigroup (C), Capital One (COF), and Bank of America (BAC) to lower card transaction fees for its soon to be launched payments venture, said Bank Innovations, citing an earlier report from Tom Noyes and confirmation by its own sources. Apple has both convinced them to consider its transactions as “card present,” which carries a lower discount rate, and has also managed to bump down the actual “card present” rate by 15 to 25 basis points, according to people with knowledge of the matter, the report noted. Reference Link
06:27 EDTJPMHealthCare.gov insurance site breached by hacker in July, WSJ reports
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September 4, 2014
08:38 EDTDALDelta Air Lines weakness a buying opportunity, says CRT Capital
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06:40 EDTJPMAgencies finalize liquidity rule for large banks
The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency finalized a rule yesterday that they said would strengthen the liquidity positions of large financial institutions. The rule will for the first time create a standardized minimum liquidity requirement for large and internationally active banking organizations., according to the agencies. Each institution will be required to hold high quality, liquid assets, or HQLA, such as central bank reserves and government and corporate debt that can be converted easily and quickly into cash in an amount equal to or greater than its projected cash outflows minus its projected cash inflows during a 30-day stress period, the agencies explained. The ratio of the firm’s liquid assets to its projected net cash outflow is its “liquidity coverage ratio,” or LCR, they said. The LCR will apply to all banking organizations with $250B or more in total consolidated assets or $10B or more in on-balance sheet foreign exposure and to these banking organizations’ subsidiary depository institutions that have assets of $10B or more, the agencies reported. The rule also will apply a less stringent, modified LCR to bank holding companies and savings and loan holding companies that do not meet these thresholds, but have $50B or more in total assets. Bank holding companies and savings and loan holding companies with substantial insurance or commercial operations are not covered by the final rule. The final rule is largely identical to the proposed rule, with a few key adjustments in response to comments from the public, the agencies stated. Those adjustments include changes to the range of corporate debt and equity securities included in HQLA, a phasing-in of daily calculation requirements, a revised approach to address maturity mismatch during a 30-day period, and changes in the stress period, calculation frequency, and implementation timeline for the bank holding companies and savings and loan companies subject to the modified LCR. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
06:30 EDTJPMJPMorgan probe reveals computers rerouted data to Russia, Bloomberg says
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September 3, 2014
10:40 EDTJPMAnalyst sees security 'spending frenzy' amid high-profile hacks
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10:06 EDTDALDelta Air Lines shares defended at UBS
10:00 EDTJPMOn The Fly: Analyst Upgrade Summary
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08:23 EDTDALDelta Air Lines narrows Q3 PRASM view to up 2%-3% from up 2%-4%
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08:20 EDTDALDelta Air Lines reports August PRASM up 2.0%
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08:12 EDTDALDelta Air Lines sees September quarter CASM ex-fuel up 0%-1%, PRASM up 2%-3%
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07:29 EDTJPMFinal liquidity, swaps margin rules to be unveiled today, Reuters says
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07:19 EDTJPMJPMorgan upgraded to Buy from Neutral at Nomura
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06:35 EDTJPMJPMorgan in talks to sell oil-supply agreement to Bank of America, WSJ says
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06:34 EDTJPMFBI hasn't found evidence JPMorgan hack hit other big banks, WSJ reports
The FBI hasn't found any evidence to suggest that the recent breach at JPMorgan hit any of the other big U.S. banks, the Wall Street Journal reports, citing four people close to the probe. JPMorgan said it isn't experiencing "unusual amounts of fraud," and, according to two sources, consumers "likely don't face a serious risk." Reference Link
September 2, 2014
11:47 EDTCAMPCalAmp management to meet with B. Riley
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