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Stock Market & Financial Investment News

News Breaks
June 24, 2014
04:55 EDTLYG, LYG, IBM, IBM, CRM, CRM, AXS, AXS, TW, TW, AZSEY, AZSEY, SLF, SLF, RGA, RGA, PRU, PRU, WSH, WSH, AIG, AIG, SSREY, SSREY, AON, AONInternational Insurance Society to hold seminar
50th Annual Seminar to be held in London, England on June 23-25.
News For LYG;SSREY;AIG;WSH;PRU;RGA;SLF;AZSEY;TW;AXS;CRM;IBM;AON From The Last 14 Days
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April 17, 2015
06:33 EDTIBMChina suspends new bank technology policy, NY Times reports
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April 16, 2015
17:55 EDTCRMCloud computing firms lower after ServiceNow reports Q1 results, guidance
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09:07 EDTCRMSalesforce.com's chief architect Scott Hansma joins LendingClub
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08:56 EDTAIGAIG says Doug Steenland to succeed Steve Miller as non-executive chairman
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07:26 EDTAIGAIG shares remain attractive, says Deutsche Bank
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April 15, 2015
16:34 EDTAIGAIG invests in K2 Intelligence
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15:56 EDTAIGAIG to invest in K2 Intelligence, NY Times says
AIG plans to announce that it has made an investment in investigations firm K2 Intelligence, though terms of the investment were not disclosed, reported The New York Times. Reference Link
15:14 EDTIBMIBM April volatility elevated into Q1 and outlook
IBM April weekly call option implied volatility is at 31, May is at 22, June is at 18; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q1 results after the market close on April 21.
11:23 EDTCRMSalesforce.com participates in a meeting with Stephens
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10:36 EDTPRU, AIGBofA/Merrill U.S. credit analysts hold an analyst/industry conference call
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08:43 EDTIBMIBM estimates lowered at Credit Suisse ahead of the Q1 report
Credit Suisse lowered IBM estimates ahead of the Q1 report on April 20 and reiterated its Underperform rating and $125 price target on the stock. The firm's Q1 estimates for EPS and revenue go to $2.84/$19.8B versus consensus of $2.86/$19.9B and FY15 to $15.59/$85B versus consensus of $15.98/$85.4B. Credit Suisse concerns remain a weak order book and a reduction in industry-wide deal sizes, margin dilution from the cloud despite any revenue growth, less effective restructuring, and internal turmoil and underinvestment.
06:41 EDTLYGECB authorizes new emergency funding for Greek banks, Reuters reports
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April 14, 2015
19:02 EDTAXSAXIS Capital acknowledges Exor made unsolicited proposal for PartnerRe
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12:24 EDTAXSOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday despite better than expected headline earnings from JPMorgan (JPM), Wells Fargo (WFC) and Johnson & Johnson (JNJ). The market began the session in positive territory on the heels of those solid earnings reports, but the averages were unable to hold their early gains as the retail sales figures released during the pre-market trading session missed expectations. ECONOMIC EVENTS: In the U.S., retail purchases grew 0.9% in March, rebounding from a 0.5% decline in February. However, economists were expecting a more pronounced 1.1% advance in recovery from the prior month's weather driven weakness. The producer price index rose 0.2% in March, matching expectations. The core PPI, which excludes food and energy, grew 0.2% as well, versus expectations for it to have risen 0.1%. Business Inventories grew 0.3% in February, versus expectations for them to be up 0.2%. The International Monetary Fund, in its latest World Economic Outlook Report, trimmed its U.S. growth forecast to a 3.1% pace from its prior 3.6% view, but left its global forecast intact at a 3.5% rate. COMPANY NEWS: Shares of JPMorgan advanced 1.5% after its headline earnings per share topped expectations, even before accounting for 13c per share in aftertax legal expense that the bank identified as a "significant item." Conversely, fellow large bank Wells Fargo (WFC) slid 1.5% after its own report on first quarter results, despite the fact that its earnings and revenue both topped the consensus forecast... Shares of Johnson & Johnson (JNJ) were fractionally higher at midday after its first quarter earnings and revenue beat expectations. The multinational company, however, lowered its FY15 adjusted earnings outlook, citing further negative foreign currency movements... Nokia (NOK) and Alcatel-Lucent (ALU), in response to "recent media speculation," confirmed that they are in advanced discussions with respect to a potential full combination, which would take the form of a public exchange offer by Nokia for Alcatel. MAJOR MOVERS: Among the notable gainers was 58.com (WUBA), which jumped 25% after Financial Times reported the company has signed a memorandum of understanding to merge with peer Ganji.com to create one of the largest specialized online classified companies in China. Also higher was PartnerRe (PRE), which advanced nearly 9% to trade near $129.50 after Europe based investment company EXOR announced that it submitted a written proposal to acquire 100% of the common shares of the company for $130.00 per share in cash, valuing PartnerRe at $6.4B. EXOR said its all-cash proposal represents a 16% premium to the implied value per share of $112.53 for PartnerRe under the merger deal it has in place with AXIS Capital (AXS). Among the noteworthy losers was Arrowhead Research (ARWR), which tumbled over 6% after Jefferies downgraded the stock to Hold and cut its price target for shares to $9 from $30 after assuming coverage of the stock. The firm said that while ARC-520 offers the potential for a Hepatitis B virus functional cure, it prefers to wait for multi-dosing data. Also lower was Norfolk Southern (NSC), which fell nearly 6% and was downgraded to Hold from Buy at TD Securities after the railroad operator provided first quarter guidance that came in below analysts' consensus estimates. INDEXES: Near midday, the Dow was up 53.15, or 0.3%, to 18,030.19, the Nasdaq was down 16.19, or 0.32%, to 4,972.06, and the S&P 500 was up 2.20, or 0.11%, to 2,094.63.
11:55 EDTAXSEXOR tops AXIS offer with $130 per share bid for PartnerRe
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April 13, 2015
17:13 EDTIBMIBM Medtronic to partner to improve diabetes care
IBM (IBM) and Medtronic (MDT) announced that they will work together to combine powerful analytics and cognitive computing with diabetes medical devices and health data to develop a new generation of personalized diabetes management solutions. People using Medtronic diabetes solutions could benefit from new solutions developed in collaboration with IBM's newly-formed Watson Health unit.
17:12 EDTIBMIBM acquires Cleveland-based Explorys and Dallas-based Phytel
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17:10 EDTIBMIBM establishes a Watson Health Cloud
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12:42 EDTCRMFly Watch: Wells says ServiceNow likely to unveil upbeat revenue target
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12:35 EDTRGAGolub Capital reports $161.9M in Q2 new middle-market originations
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