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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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May 15, 2015
10:01 EDTPRUOn The Fly: Analyst Initiation Summary
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05:51 EDTPRUPrudential initiated with a Neutral at Goldman
Target $89.
May 14, 2015
16:40 EDTRGAReinsurance Group to host investor day
Investor Day to be held in New York on May 19 at 8:30 am. Webcast Link
16:26 EDTAIGAIG files automatic mixed securities shelf
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08:21 EDTCRMSalesforce price target raised to $87 from $78 at Goldman
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06:25 EDTSLFStandard Chartered seeks buyers for Hong Kong pension unit, Reuters reports
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06:21 EDTCRMSalesforce implied volatility of 57 at upper end of index
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May 13, 2015
09:03 EDTIBMIBM partners with Teleflora for large florists network
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08:45 EDTAIGAIG names Brian Schreiber as Chef Strategy Officer
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07:29 EDTWSHUBS to hold a conference
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May 12, 2015
18:52 EDTAXSPartnerRe shareholder calls Exor offer 'clearly superior,' Reuters says
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18:18 EDTLYGU.K. cuts stake in Lloyds to sub-20%, BBC says
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16:33 EDTCRMSalesforce, Sage announce strategic partnership, new small business platform
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13:39 EDTTWWageWorks drops after partner buys competitor
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13:34 EDTTWWageWorks weakness on Towers Exchange 'overblown', says Wells Fargo
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11:38 EDTCRMLivePerson sinks to 52-week low after cutting fiscal 2015 outlook
Shares of LivePerson (LPSN), a provider of cloud-based digital engagement solutions, are sinking after the firm lowered its outlook for fiscal 2015. WHAT'S NEW: LivePerson yesterday reported first quarter adjusted earnings per share of 4c, in line with analysts' consensus estimates, on revenue of $59.8M, slightly below analysts' consensus estimates of $60.79M. LivePerson said it signed 147 deals in the quarter, including the addition of 30 new customers. Looking ahead to the second quarter, LivePerson forecast adjusted EPS of 0c-2c and revenue of $58.5M-$59.5M, well below the analysts' consensus estimates of 6c and $63.88M, respectively. WHAT'S NOTABLE: The company lowered its fiscal year 2015 adjusted EPS view to 10c-15c from 27c-32c, significantly trailing analysts' consensus estimates of 28c. LivePerson also cut its FY15 revenue outlook to $243M-$247M from $263M-$269M, also well below analysts' estimates of $264.36M. The company reduced reduced FY15 revenue guidance by $21M when comparing the midpoint of its updated guidance range to the midpoint of its previous guidance range. The adjustment reflects the impact of one large customer contract that ended, an increase in foreign exchange headwinds and a slightly slower start to the year than expected as the company intensified its focus on bringing LiveEngage to the market, the company said. LivePerson said it expects to record a $2.5M charge in Q2 related to cost-cutting move, which it described as "reprioritizing on areas showing the highest potential growth." The company believes its cost-savings initiatives will generate approximately $13M of expense savings in 2015. ANALYST REACTION: Credit Suisse this morning downgraded LivePerson to Neutral from Outperform and lowered its price target to $8 from $19. The firm said LivePerson was "forced" to lower revenue guidance for FY15 primarily due to the loss of AT&T (T) as a pay-for-performance chat customer, as well as from a slow sales start and FX. The firm said the ability of LivePerson to transition its large customer base to LiveEngage 2.0 will take longer than previously estimated. PRICE ACTION: In late morning trading, LivePerson fell $1.16, or 12.26%, to $8.30 on more than five times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $8.10. Including today's pull back, the shares have lost approximately 15% over the past 12 months. OTHERS TO WATCH: Other companies offering cloud-based digital engagement solutions include eGain (EGAN), down 1.2%, Zendesk (ZEN), down 4.05%, and Salesforce.com (CRM), up 0.2%.
07:48 EDTSLFStandard & Poor's to hold a summit
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07:32 EDTTWTowers Watson acquisition positive, says Stifel
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07:22 EDTAXSEXOR announces all-cash offer to acquire PartnerRe for $137.50 per share
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06:02 EDTCRMSalesforce implied volatility of 64 at upper end of index
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