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Stock Market & Financial Investment News

News Breaks
April 17, 2012
16:18 EDTAMTG, SRSL, KO, FSLR, JNJ, WHR, DTSI, GSOn The Fly: Closing Wrap
Stocks on Wall Street were significantly higher, as a trio of earnings reports and a boost in the IMF's view of global growth prospects powered the market's rise. Stock futures were higher in pre-market trading on the strength of positive earnings reports from Coca-Cola (KO), Goldman Sachs (GS), and Johnson & Johnson (JNJ). The domestic economic data, which included fewer than expected housing starts and no increase in industrial production, was overshadowed by increased global and U.S. growth forecasts by the International Monetary Fund. With the earnings season beginning in earnest this week, investors appeared bullish about the prospects for solid numbers this quarter, if today's trading is taken as an indication... ECONOMIC EVENTS: In the U.S., housing starts for the month of March decreased 5.8%, versus expectations of an increase of 1%, but the number of building permits issued rose 4.5%, versus expectations of a decrease of 0.7%. Industrial production was reportedly flat in March, versus expectations for a 0.3% increase. Capacity utilization was in line with forecasts at 78.6%. In Europe, a German investor confidence survey was better than expected and Spanish benchmark yields eased back below 6%. Also, the International Monetary Fund said it sees world output growing 3.5% in 2012, raising its projection for United States growth to 2.1%. The IMF also said it sees growth in China slowing to 8.2% and real GDP in the euro area contracting in the first half of 2012 but then recovering... COMPANY NEWS: Coca Cola and Goldman Sachs both reported earnings and revenue that beat the Street's expectations, though Coke saw more of a favorable reaction from investors. Coca Cola shares rose 2.08% to $73.95 after its report, while Goldman fell 0.74% to $116.86. Johnson and Johnson also beat consensus for adjusted earnings, but its revenue came in below forecasts. Shares rose 0.38% to $64.22, making it one of the Dow's laggards during a session that saw all 30 stocks in the index post gains... MAJOR MOVERS: Among the notable gainers were SRS Labs (SRSL), up $2.53, or 36.88%, to $9.39, after agreeing to be acquired by DTS, Inc. (DTSI) in a cash-and-stock transaction valued at $9.50 per share, and First Solar (FSLR), up $2.14, or 10.28%, to $22.96, following its announcement of plans to cut its global workforce by approximately 2,000 positions, or about 30%, in response to conditions in Europe. Noteworthy losers included Apollo Residential Mortgage (AMTG), down $1.37, or 7.16%, to $17.76, after filing to sell 13.9M shares of its common stock, and Whirlpool (WHR), down $3.03, or 4.27%, to $68.00, after the International Trade Commission voted against imposing duties on refrigerators produced in South Korea and Mexico... INDICES: The Dow gained 194.13, or 1.50%, to 13,115.54; the Nasdaq rose 54.42, or 1.82%, to 3,042.82; and the S&P 500 added 21.21, or 1.55%, to 1,390.78.
News For KO;GS;JNJ;SRSL;DTSI;FSLR;AMTG;WHR From The Last 14 Days
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June 23, 2015
05:30 EDTFSLRFirst Solar modules to power 200 MW solar PV project in Dubai
First Solar announced that it has signed an agreement to supply its high performance photovoltaic, or PV, modules to power the 200 MW AC second phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, the United Arab Emirates.
June 22, 2015
17:29 EDTKOCoca-Cola reports 16.7% stake in Monster Beverage
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June 19, 2015
11:21 EDTFSLR8point3 Energy Partners opens at $20.75, IPO priced at $21.00
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11:10 EDTFSLR8point3 Energy Partners IPO indicated to open $20.60
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10:57 EDTFSLR8point3 Energy Partners IPO indicated to open $20.75
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10:52 EDTFSLR8point3 Energy Partners IPO indicated to open $20.50
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10:51 EDTFSLR8point3 Energy Partners IPO indicated to open $20.25
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10:46 EDTFSLR8point3 Energy Partners IPO indicated to open $20, IPO priced at $21
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June 18, 2015
12:04 EDTKOActive options: AAPL ORCL FB RAD BAC HTZ MU GE TSLA AMZN BABA KO
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06:36 EDTGSGoldman tells interns not to stay in office overnight, Reuters reports
Goldman Sachs (GS), which has been looking to improve working conditions for its investment-banking interns, has set new guidelines, under which interns are expected to stay away from the office between midnight and 7 a.m. during weekdays, Reuters reports, citing company sources and confirmed by a Goldman spokesperson. Following the 2013 death of a Bank of America (BAC) intern in London, Goldman and other banks have taken steps to encourage its junior employees to take time off. Reference Link
06:21 EDTGSFour banks to pay nearly $1B to settle forex rigging suit, AFP reports
Goldman Sachs (GS), BNP Paribas (BNPQY), Barclays (BCS), and HSBC (HSBC) have all reached separate agreements to settle a U.S. civil lawsuit over alleged foreign exchange rigging in deals totaling approximately $1B, AFP reports, citing sources close to the situation. The agreements are preliminary and are subject to change, the sources told AFP, confirming an earlier report on the settlements from the Wall Street Journal. Barclays is expected to pay $375M, HSBC $285M, BNP Paribas roughly $200M, and Goldman Sachs about $130M, the report says.The four banks' pending agreements would settle the civil lawsuit filed by Scott & Scott and Hausfeld that claims their traders manipulated the forex market to boost the banks' profits, AFP reports. Reference Link
06:01 EDTGSBanks to settle civil forex lawsuit for nearly $2B, WSJ reports
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June 17, 2015
17:37 EDTGSGM hires advisers as Fiat Chrysler tries to force merger talks, Reuters says
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09:08 EDTDTSIDTS, Inc. management to meet with Barrington
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07:21 EDTJNJGeneric ADHD drugs still sold despite FDA non-equivalance finding, NYT reports
The FDA announced last November that two generic versions of Johnson & Johnson's (JNJ) Concerta ADHD drug, one made by Mallinckrodt (MNK) and the other by UCB, could no longer be considered the equivalent of the branded drug after tests and analyses suggested that their effectiveness began to wear off much more quickly, but the drugs are still being sold despite an FDA mandated deadline having passed for the companies to either prove the drugs were equivalent or remove them from the market, said The New York Times. The report noted a third generic product, sold by Actavis (AGN), was found to be equivalent to the branded Concerta. Reference Link
06:48 EDTGSMore big banks waiving overdraft fees, WSJ reports
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June 16, 2015
16:01 EDTGS, KOApple Twitter Facebook Bank of America Yahoo Netflix Alibaba WisdomTree Coca-Cola Goldman Sachs Micron General Electric
iPath S&P 500 VIX Short-Term Futures down 33c to 18.68. Option volume leaders: AAPL TWTR FB BAC YHOO NFLX BABA WETF KO GS MU GE.
11:11 EDTKOMonster Beverage climbs after added to Citi Focus List
Energy drink maker Monster Beverage (MNST) is advancing after Citi added the stock to its Focus List, saying that the company has many potential positive catalysts. WHAT'S NEW: Monster's stock can rise significantly from current levels, as it has many potential positive catalysts that can kick in over the next 12 months, Citi analyst Wendy Nicholson wrote in a note to investors today. Specifically, the company can enter new markets such as China and its overseas profit margins may increase, the analyst stated, adding that Monster may also sign new distribution deals in foreign markets and launch new products. Other potential catalysts include signs that the distribution of the company's drinks in the U.S. has become smoother in the wake of its transition to Coca-Cola's (KO) system and the possibility that the soda giant will increase its stake in Monster, the analyst believes. Monster could initiate large share repurchases, given the huge amount of cash it received from Coca-Cola, the analyst stated. She predicted that the company's earnings before interest and taxes would grow at an "outsized" compound annual growth rate of 12% over the next five years and kept a $155 price target and Buy rating on the stock. WHAT'S NOTABLE: UBS on June 12 upgraded Monster to Buy from Neutral, saying that the short-term risks facing the company were already priced into the stock, while the beverage maker's U.S. and foreign growth outlook is strong. The analyst predicted that Coca-Cola would increase its stake in the company to 25% from its current 16.7% level. Also on June 12, Monster and Coca-Cola announced that the acquisition of the 16.7% stake in Monster by Coke had been closed. PRICE ACTION: In late morning trading, Monster climbed 4% to $132.
08:21 EDTGSJetBlue enters into agreement with Goldman to implement ASR program
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07:11 EDTGSSurprise AIG ruling may make future bailouts unlikely, even if needed, NYT says
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