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Stock Market & Financial Investment News

News Breaks
April 19, 2013
16:35 EDTIBM, CMG, BX, GE, VRTX, DELL, MCD, AIRM, HPQOn The Fly: Closing Wrap
Stocks on Wall Street were higher as the Dow, which had lagged behind the other equity indices for much of the session, crossed into positive territory during the final hour of trading. Earnings from McDonald's (MCD), General Electric (GE), and IBM (IBM) weighed on the index, while the Nasdaq and S&P advanced through the session as much of the nation's attention focused on the manhunt for the Boston Marathon bombing suspect. ECONOMIC EVENTS: In the U.S., earnings were in focus as little impactful economic data was released. COMPANY NEWS: IBM missed expectations on the top and bottom line and the most-heavily weighted stock in the Dow lost $17.15, or 8.28%, to $190.00. However, Citigroup attributed the Q1 miss to deal slippage and said the pullback was a buying opportunity, maintaining its $250 price target on IBM shares... Shares of Dell (DELL) fell 55c, or 3.94%, to $13.40 after private equity firm Blackstone (BX) withdrew its takeover bid for Dell citing concerns over declining PC sales. Dell peer Hewlett-Packard (HPQ) also lost 65c, or 3.22%, to $19.56 following the news. MAJOR MOVERS: Among the notable gainers was Vertex Pharmaceuticals (VRTX), which added $32.49, or 61.45%, to $85.36 after new data from a trial of a cystic fibrosis drug candidate prompted at least two analyst upgrades and a number of increased price targets on the stock. Also higher was Chipotle (CMG), up $37.89, or 11.54%, to $366.25 after its first quarter earnings beat expectations. Among noteworthy losers were Dow members General Electric, down 92c, or 4.06%, to $21.75, and McDonald's, down $1.99, or 1.95%, to $99.92, which both slipped after their earnings reports. Also lower was Air Methods (AIRM), down $6.14, or 13.38%, to $39.76 after warning it expects to report losses for its first quarter. INDICES: The Dow was up 10.37, or 0.07%, to 14,547.51; the Nasdaq was up 39.70, or 1.25%, to 3,206.06; the S&P 500 was up 13.64, or 0.88%, to 1,555.25.
News For MCD;GE;IBM;DELL;BX;HPQ;VRTX;CMG;AIRM From The Last 14 Days
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April 14, 2014
07:06 EDTIBMU.S. Geospatial Intelligence Foundation to hold a symposium
GEOINT 2013 Symposium, originally scheduled for October 2013, is being held in Tampa, Florida on April 14-17.
April 13, 2014
19:59 EDTIBMImperva faces competition from firms like IBM, F5 Networks, Bloomberg says
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April 11, 2014
07:57 EDTIBMIBM April volatility elevated at 37 into Q1
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April 10, 2014
14:24 EDTIBMAmazon Web Services CTO says ARM CPUs may be considered, The Register says
Amazon (AMZN) Web Services chief technology officer Werner told The Register that the company is “always looking for efficiency” and may consider using ARM (ARMH) CPUs in the future. Vogels said another processor architecture AWS has considered is IBM's (IBM) Power, the report noted. Reference Link
11:23 EDTBXOptions with increasing implied volatility: CYTK BX
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10:00 EDTIBM, HPQOn The Fly: Analyst Initiation Summary
Apple (AAPL) initiated with a Buy at Deutsche Bank... Crocs (CROX) initiated with a Buy at Buckingham... Deckers Outdoor (DECK) initiated with a Buy at Buckingham... EMC (EMC) initiated with a Buy at Deutsche Bank... HP (HPQ) initiated with a Buy at Deutsche Bank... IBM (IBM) initiated with a Hold at Deutsche Bank... NeoPhotonics (NPTN) coverage resumed with a Market Perform at Raymond James... NetApp (NTAP) initiated with a Hold at Deutsche Bank... Nutrisystem (NTRI) initiated with a Buy at B. Riley... Questar (STR) initiated with an Underperform at BofA/Merrill... S&T Bancorp (STBA) initiated with an Outperform at Raymond James... STB Systems Inc (STBI) initiated with an Outperform at Raymond James... Skechers (SKX) initiated with an Underperform at Buckingham... Steven Madden (SHOO) initiated with a Buy at Buckingham... UGI Corporation (UGI) initiated with a Buy at BofA/Merrill... Web.com (WWWW) initiated with a Neutral at Buckingham... Ally Financial (ALLY) initiated with a Buy at BTIG... Visteon (VC) initiated with a Buy at Citigroup... Greatbatch (GB) initiated with a Buy at KeyBanc... Steris (STE) initiated with a Buy at KeyBanc... Cooper Companies (COO) initiated with a Hold at KeyBanc... Hill-Rom (HRC) initiated with a Hold at KeyBanc... Invacare (IVC) initiated with a Hold at KeyBanc... Teleflex (TFX) initiated with a Hold at KeyBanc... Provident Financial (PROV) initiated with a Market Perform at Keefe Bruyette... UMH Properties (UMH) initiated with a Hold at Wunderlich.
09:56 EDTHPQHP rallies after Gartner/IDC PC shipment data, levels to watch
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09:21 EDTHPQOn The Fly: Pre-market Movers
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09:16 EDTBXRentech announces $150M investment from Blackstone's GSO Capital
Rentech (RTK) announced that GSO Capital Partners LP, the credit investment arm of Blackstone (BX), will invest $150M in Rentech in the form of $100M of convertible preferred stock and a $50M term loan. The transactions closed on April 9. In connection with this investment, Blackstone/GSO appointed two members to Rentech’s Board of Directors: Douglas Ostrover, a senior managing director of Blackstone and co-founder of GSO Capital Partners, and Patrick Moore, the former chairman and chief executive officer of Smurfit-Stone Container Corporation, a paper-based packaging company with significant wood fibre operations. Rentech also announced a settlement with Concerned Rentech Shareholders, whereby CRS will approve an additional member to join Rentech’s Board of Directors and the board’s newly formed Finance Committee. Proceeds from Blackstone/GSO’s investment will fund identified growth opportunities in Rentech’s wood fibre processing business. Rentech also announced changes to its Board of Directors today: Douglas Ostrover, senior managing director of Blackstone and co-founder of GSO Capital Partners, has joined the board. Mr. Ostrover brings shareholder representation and significant finance experience. He has personally overseen GSO’s deployment of $65 billion of capital. Mr. Ostrover will be the chairman of the board’s Finance Committee. Blackstone/GSO appointed Patrick J. Moore, former chairman and chief executive officer of Smurfit-Stone Container Corporation, to the board.
09:06 EDTIBMIBM to acquire Atlanta-based software company Silverpop
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09:06 EDTBXBlackstone reaches a financial closing for Ventika
Fisterra Energy, a company majority owned by funds managed by Blackstone (BX), and Blackstone Energy Partners, announced it has reached a financial closing for Ventika. Ventika will be located in the northeastern Mexican state of Nuevo Leon and is comprised of two 126 megawatt wind farms with total capacity of 252MW. Once completed the project will alleviate significant demands on Mexico’s existing power infrastructure, helping Mexico reduce pollution and CO2 emissions, and meet its target of achieving 35% renewable generation by 2025. The $650M project is being jointly developed by CEMEX (CX) and Fisterra Energy. This investment funds the installation of 84 Acciona AW-3000 wind turbine generators, each with a hub height of 120 meters and a nominal output of 3MW per turbine. Construction of the project, which is scheduled to be completed in FY16, is expected to generate approximately 1K jobs and more than 2K additional jobs in related industries.
09:03 EDTGEGE to provide grid modernization solutions to Furnas
GE’s Digital Energy business is providing Furnas and Triangulo Mineiro Transmissora/Geoenergia with the latest in protection and control equipment to ensure performance and quality for each of the utility’s grid modernization projects. Furnas is one of the biggest utilities in Latin America and is responsible for power transmission in south, southeast and mid west Brazil. These projects, which support the modernization of Brazil’s grid, mark GE’s entry into Brazil’s ANEEL transmission auctions. The auctions were won in December 2013 by TMT, a collaborative utility composed of Furnas and FIP Milao, with Furnas being the largest participant at 49%.
08:46 EDTCMGChipotle well positioned to sustain operating momentum, says RW Baird
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08:44 EDTIBMCLSA technology analysts hold an analyst/industry conference call
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08:01 EDTHPQPC market decline 'much less' than feared, says Citigroup
Citigroup says data yesterday from IDC showing a Q1 PC unit decline of 4% was "much less than feared." Citi continues to view HP (HPQ) as its top IT Hardware stock. It has a Buy rating on HP with a $40 price target.
07:49 EDTBXApollo, EQT, Blackstone mull offers for Gas Natural unit, Bloomberg says
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06:56 EDTHPQHP estimates raised above consensus at Morgan Stanley
Morgan Stanley raised Overweight rated HP FY15-16 estimates above consensus to reflect a margin recovery in Enterprise Services. The firm's FY15 EPS estimate goes to $4.05 vs. consensus of $3.84 and price target is raised to $36 from $34.
06:55 EDTIBMIBM initiated with a Hold at Deutsche Bank
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06:55 EDTHPQHP initiated with a Buy at Deutsche Bank
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06:23 EDTHPQIDC says worldwide PC shipments totaled 73.4M units in Q1, down 4.4% y/y
Worldwide PC shipments totaled 73.4 million units in 1Q14, a decline of -4.4% year on year, according to the International Data Corporation Worldwide Quarterly PC Tracker. Although still in decline and with continuing weakness in consumer and emerging market segments, the preliminary results are slightly better than a projected decline of -5.3%. The U.S. market continued to stabilize with growth near zero – in line with forecasts. With shipments totaling 14.3 million PCs in 1Q14, the U.S. market contracted by -0.6% from the same quarter a year ago. Desktop shipments were slightly stronger, posting 3.5% growth, while portables remained in negative territory. Lenovo (LNVGY) preserved its lead in total worldwide PC shipments despite a seasonal drop due to the Chinese New Year. Growth in other regions continued at a solid pace although Latin America slowed after a dramatic expansion over the past year. HP (HPQ) remained in the number 2 position, with growth rising nicely to nearly 5% year on year. Dell grew over 9% in the first quarter.
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