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Stock Market & Financial Investment News

News Breaks
February 12, 2013
16:29 EDTCRK, AVP, LVLT, BCS, STEM, KOOn The Fly: Closing Wrap
Stocks on Wall Street were mixed ahead of President Obama's State of the Union address. The Nasdaq lost ground on the session, while the Dow closed above 14K, putting it back within shouting distance of its all-time high... ECONOMIC EVENTS: In the U.S., the economic calendar was fairly light for a second straight day. The Labor Department reported job openings fell by 173K in December to 3.62M from a more than four-year high set in the prior month... COMPANY NEWS: Coca-Cola (KO) was the Dow's laggard, losing $1.05, or 2.72%, to $37.56 after reporting earnings that just beat consensus on revenue that just missed analyst forecasts. The company said global unit case volume rose 3% during the quarter and that it expects economic volatility to extend through 2013... Barclays (BCS) announced its Q4 results and said it would reduce its headcount by 3,700 employees in 2013. Shares gained $1.72, or 9.13%, to $20.55 following the news... MAJOR MOVERS: Among the notable gainers was Avon Product (AVP), up $3.51, or 20.31%, to $20.79 following Q4 earnings that beat consensus estimates. Also higher were shares of StemCells (STEM), up 35c, or 20.97%, to $1.99 after the company announced the first patient cohort completed its phase I/II clinical trial of neural stem cells for chronic spinal cord injury. Among the noteworthy losers were Level 3 (LVLT), down $3.35, or 13.58%, to $21.31 after its Q4 report, and Comstock Resources (CRK), down $1.12, or 7.89%, to $13.07 after the company reported Q4 results and restated its results from the first three quarters of FY12... INDICES: The Dow was up 47.46, or 0.34%, to 14,018.70; the Nasdaq was down 5.51, or 0.17%, to 3,186.49; and the S&P 500 was up 2.42, or 0.16%, to 1,519.43.
News For KO;BCS;AVP;STEM;LVLT;CRK From The Last 14 Days
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March 23, 2015
10:32 EDTCRKComstock Resources cuts 2015 capital spending plan 22% to $248M
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March 20, 2015
11:26 EDTLVLTLevel 3 management to meet with Oppenheimer
Meeting to be held in Europe on March 23 hosted by Oppenheimer.
March 19, 2015
06:53 EDTKOCoca-Cola CEO to raise marketing budget, revamp distribution network, WSJ says
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March 18, 2015
10:31 EDTKOPepsiCo's valuation low vs. peers, says Credit Suisse
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09:36 EDTKOActive equity options trading on open
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07:27 EDTBCSFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
07:20 EDTBCSU.S. considers 'tearing up' non-prosecution deals with banks, Bloomberg says
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March 17, 2015
16:00 EDTKOOptions Update; March 17, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 27.30. Option volume leaders: AAPL RIG MGM HTZ TWTR TSLA CY KO NFLX C according to Track Data.
14:37 EDTBCSCiti, Barclays near $800M settelement of forex suit, WSJ says
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10:00 EDTCRKOn The Fly: Analyst Downgrade Summary
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09:14 EDTCRKComstock Resources downgraded to Sell from Neutral at Global Hunter
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March 16, 2015
16:23 EDTSTEMStemCells reports Q4 EPS (14c), one estimate (4c)
Reports Q4 revenue $883K vs 45K in Q413. "Total revenue from continuing operations during the fourth quarter of 2014 was $883,000, compared to $45,000 in the same period of 2013. Revenue from continuing operations is primarily from royalties and milestone payments received under various licensing agreements. The increase in 2014 was primarily attributable to a milestone payment of approximately $500,000 received under a licensing agreement with ReNeuron Ltd. and a licensing fee of approximately $400,000 in connection with our divestiture of the SC Proven business entered into with Takara Bio Inc., a publicly traded Japanese company."
14:08 EDTBCSEU regulator says time for fine-tuning, Reuters says
The Basel Committee on Banking Supervision believes the necessary bank regulatory framework is in place though some additional work must be done to finalize leverage ratio and capital floor rules, Reuters reported yesterday, citing statements by secretary-general William Coen at a financial conference in Doha. Coen added, "We're now at the state where we can take a step back and look to see how [the regulations] fit together," cautioning that further analysis must be data-driven but admitting that both banks and regulatory bodies were feeling "regulation fatigue." Publicly traded companies in the space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
March 15, 2015
18:04 EDTKODavid Winters says Coca-Cola CEO declined bonus not enough, Reuters says
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March 13, 2015
17:36 EDTAVPAvon Products to replace Hanesbrands in S&P 400 as of 3/20 close
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17:27 EDTAVPHanesbrands to replace Avon Products in S&P 500 as of 3/20 close
15:40 EDTBCSDOJ sets $1B staring point in forex settlement talks with banks, Bloomberg says
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15:22 EDTBCSDOJ starts forex manipulation settlement talks at $1B per bank, Bloomberg says
Barclays (BCS), Citi (C), JPMorgan (JPM), RBS (RBS) and UBS (UBS) are said to be probed by U.S. over currency manipulation, Bloomberg says.
09:20 EDTLVLTBofA/Merrill media/telecom analysts hold analyst/industry conference call
Media & Telecom Analyst Reif-Cohen and Barden, along with Matthew Brill, Pratner at Latham & Watkins LLP, discuss the FCC Open Internet Order on an Analyst/Industry conference call to be held on March 13 at 11 am.
07:18 EDTBCSBarclays new chairman expected to change investment bank unit, WSJ says
John McFarlane, a former restructuring professional, will become chairman of Barclays next month and may accelerate the bank's move away from investment banking, reports the Wall Street Journal, citing analysts including Chirantan Barua of Bernstein Research. However, it is not clear whether McFarlane will attempt to turn the investment bank unit profitable, or simply cut it down, notes Barua. The Journal notes that McFarlane has told friends that his goal will be to boost shareholder returns rather than changing the bank's culture. Reference Link
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