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Stock Market & Financial Investment News

News Breaks
August 13, 2014
16:19 EDTSNY, SEAS, M, RHHBY, ITMN, EBAY, GSK, KING, AMZN, CSIQOn The Fly: Closing Wrap
Stocks on Wall Street began the day in positive territory despite weaker than expected retail sales figures for July. Oil hit a new 13 month low during the session, suggesting to investors that concerns about the flow of oil from the Middle East are muted despite the turmoil in Iraq and Israel. The market found its level about an hour and a half into trading and the averages moved in a narrow range for the remainder of the session, but the Nasdaq's drift higher managed to add 1% to the index by the time trading closed. ECONOMIC EVENTS: In the U.S., retail sales were flat in July, versus an expected 0.2% increase. If auto and gasoline data is removed, the core reading showed an increase of 0.1%, versus the expected 0.4% rise. Business inventories grew 0.4% in June, which was in-line with expectations. In Asia, a measure of new credit in China came in at $44.3B in July, marking its lowest monthly total since October 2008. China's industrial production grew 9.0% year-over-year in the month, versus expectations for 9.2% growth. Japan's second quarter GDP fell an annualized 6.8%, which was slightly better than the expectation for a 7% decline. COMPANY NEWS: Macy's (M) declined $3.29, or 5.51%, to $56.47 after the department store operator's second quarter sales and profits missed expectations. Macy's also lowered its fiscal year same-store sales growth forecast to 1.5%-2% from its previous 2.5%-3% view, but said it still expects FY14 earnings per share of $4.40-$4.50... Amazon.com (AMZN) advanced $6.96, or 2.18%, to $326.28 after the company launched "Amazon Local Register," a credit-card device and mobile app to help small business owners accept payments that will go head-to-head with competing systems from Square and eBay's (EBAY) PayPal unit. Additionally, research firm ChannelAdvisor reported that Amazon's July same-store-sales grew 40.4%, an increase compared to June's 34.4% growth rate. Meanwhile, the firm estimated eBay's July same-store-sales grew 9.7%, which was down from June’s 12.3% rate and below the e-commerce growth rate, and its shares slipped 49c, or 0.92%, to $52.94. MAJOR MOVERS: Among the notable gainers was Canadian Solar (CSIQ), which rose $6.06, or 24.27%, to $30.13 after the company reported better than expected second quarter results. Also higher was InterMune (ITMN), which jumped $6.57, or 14.44%, to $52.06 after Bloomberg said the company is working with its financial advisers to evaluate takeover bids it has received from Sanofi (SNY), Roche (RHHBY), GlaxoSmithKline (GSK) and Actelion (ALIOF). Among the noteworthy losers was theme park operator SeaWorld (SEAS), which dove $9.25, or 32.86%, to $18.90 after negative media attention contributed to lower than expected second quarter attendance and drove its earnings per share and revenue to miss expectations. Also lower were shares of social video game maker King Digital (KING), which was downgraded by at least five Street research firms and dropped $4.21, or 23.13%, to $13.99 after its quarterly revenue missed expectations and the company lowered its outlook for its fiscal 2014 growth rates. INDEXES: The Dow rose 91.26, or 0.55%, to 16,651.80, the Nasdaq gained 44.88, or 1.02%, to 4,434.13, and the S&P 500 added 12.97, or 0.67%, to 1,946.72.
News For M;AMZN;EBAY;SEAS;KING;ITMN;SNY;GSK;RHHBY;CSIQ From The Last 14 Days
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May 19, 2015
11:59 EDTKINGOptions with decreasing implied volatilit
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11:52 EDTAMZNDepartures raises concerns of Google's commitment to ecommerce, Re/code says
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11:32 EDTKINGKing Digital says launches in Q2 will be towards end of quarter
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11:28 EDTKINGKing Digital sees mobile business 'making up' for desktop declines
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09:25 EDTGSKGlaxoSmithKline asthma drug overused, risks underappreciated, ProPublica says
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08:52 EDTCSIQConcerns over Canadian Solar 'just near-term noise' says Roth Capital
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07:32 EDTEBAYPacific Crest shifts preference to MasterCard, upgrades to buy
Pacific Crest analyst Josh Beck shifted his preference to MasterCard (MA) from Visa (V) and upgraded the stock to Overweight from Sector Weight. Beck believes interchange legislation in Europe may have an unintended consequence of benefiting global open-loop payment networks, favoring both MasterCard and Visa. The changes are also positive for eBay's (EBAY) PayPal and mixed for American Express (AXP), Beck tells investors today in a research note. He points out his preference for MasterCard relative to Visa follows the latter company's outperformance over the past year. Beck has a $110 price target for MasterCard shares. The stock closed yesterday down 14c to $93.08.
06:55 EDTSNY, GSKGenocea could be takeover target after data, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff expects Genocea Biosciences (GNCA) will report positive Phase II GEN-003 post-immunization results late in Q2. GEN-003 is a therapeutic vaccine for genital herpes targeting Herpes Simplex Virus Type 2. Positive GEN-003 data could position Genocea as a potential acquisition target by a larger vaccine player, Tenthoff tells investors today in a research note. Large vaccine makers include Sanofi (SNY), Merck (MRK), GlaxoSmithKline (GSK), Pfizer (PFE) and Novartis (NVS). The analyst reiterates an Overweight rating on Genocea with a $14 price target. Shares of the clinical-stage vaccine developer with a $227M market capitalization closed yesterday up 83c to $10.22.
May 18, 2015
16:07 EDTRHHBYIllumina files new patent infringement suit against Roche unit
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14:04 EDTAMZNEarnings Watch: Wal-Mart sees Q1 EPS 95c-$1.10, U.S. SSS up 1%-2%
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12:34 EDTSNYRegeneron, Sanofi announce positive pivotal Phase 2b dupilumab data in asthma
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11:47 EDTAMZNAmazon unlikely hurt by Google Buy button in next 3 years, says Piper Jaffray
Piper Jaffray analyst Gene Munster said he does not expect Google's (GOOG) addition of a "Buy" button for mobile e-commerce hurting Amazon.com (AMZN) over the next 1 to 3 years, but he does believe Google's plan presents a longer-term threat to "chip away" at Amazon's growth rate. However, Munster thinks it will be "next to impossible" for Google to replicate Amazon's core infrastructure and customer experience and he keeps an Overweight rating and $475 price target on Amazon shares.
10:37 EDTKINGOptions with decreasing implied volatility
Options with decreasing implied volatility: NLNK ARWR CTRP ZIOP CLNE ARIA VHC AOL KING XON PEIX
10:01 EDTRHHBYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: A10 Networks (ATEN) upgraded to Overweight from Sector Weight at Pacific Crest... Cal-Maine Foods (CALM) upgraded to Overweight from Equal Weight at Stephens... ChemoCentryx (CCXI) upgraded to Overweight from Neutral at JPMorgan... Cheniere Energy Partners LP (CQP) upgraded to Buy from Neutral at Goldman... Chicago Bridge & Iron (CBI) upgraded to Neutral from Sell at Goldman... Continental Resources (CLR) upgraded to Buy from Neutral at Goldman... Ctrip.com (CTRP) upgraded to Overweight from Neutral at JPMorgan... Emerge Energy (EMES) upgraded to Buy from Neutral at Goldman... FEMSA (FMX) upgraded to Overweight from Equal Weight at Morgan Stanley... GoPro (GPRO) upgraded to Perform from Underperform at Oppenheimer... Holly Energy (HEP) upgraded to Buy from Neutral at Goldman... JP Energy (JPEP) upgraded on better visibility on volumes at RBC Capital... Laredo Petroleum (LPI) upgraded to Neutral from Sell at Goldman... Malvern Bancorp (MLVF) upgraded to Outperform from Market Perform at Keefe Bruyette... Newfield Exploration (NFX) upgraded to Buy from Neutral at Goldman... Norsk Hydro (NHYDY) upgraded to Overweight from Neutral at JPMorgan... Owens-Illinois (OI) upgraded to Neutral from Underperform at BofA/Merrill... Penn National (PENN) upgraded to Buy from Neutral at Goldman... Roche (RHHBY) upgraded to Buy from Neutral at UBS... Schnitzer Steel (SCHN) upgraded on stabilizing headwinds at KeyBanc... Seventy Seven Energy (SSE) upgraded to Buy from Hold at Jefferies... Toll Brothers (TOL) upgraded to Neutral from Underperform at Sterne Agee CRT... United Therapeutics (UTHR) upgraded to Buy from Neutral at BTIG... Volvo (VOLVY) upgraded to Neutral from Underweight at JPMorgan... Zayo Group (ZAYO) upgraded to Buy from Neutral at Goldman.
09:23 EDTRHHBYRoche upgraded to Buy from Neutral at UBS
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07:27 EDTMMacy's management to meet with JPMorgan
Meeting to be held in Los Angeles on May 18 hosted by JPMorgan.
07:02 EDTCSIQCanadian Solar receives $44.4M non-recourse construction loan
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05:13 EDTCSIQCanadian Solar to host investor day
Investor Day to be held in New York on May 18 at 9 am. Webcast Link
May 17, 2015
18:56 EDTMGoogle to feature 'buy' button in sponsored search results, WSJ says
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14:59 EDTSNYL'Oreal CEO 'ready' to sell Sanofi stake if needed, Barron's says
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