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April 19, 2013
16:35 EDTAIRM, HPQ, IBM, CMG, BX, GE, VRTX, DELL, MCDOn 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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February 20, 2015
11:37 EDTIBMIBM volatility low into host investor day
IBM February weekly call option implied volatility is at 17, March is at 15, July is at 17; compared to its 26-week average of 20 according to Track Data, suggesting decreasing movement into a company hosted investor day to be held in New York on February 26.
09:38 EDTMCDActive equity options trading on open
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08:26 EDTGEArc Logistics to acquire all membership interests Joliet Bulk for $216M
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07:27 EDTHPQHP volatility elevated into Q1 and growth outlook
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February 19, 2015
15:32 EDTIBMIBM to host investor day
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09:35 EDTMCDOption volume leaders
Option volume leaders: AAPL TSLA TWTR MCD WMT PBR SPWR WFM GILD FB SCTY according to Track Data.
08:45 EDTHPQHP launches open network switches for web scale cloud data centers
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07:12 EDTIBMWharton Health Care Club to hold a conference
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February 18, 2015
11:14 EDTGEGE, Alstom deal likely to face intense EU scrutiny, Reuters says
General Electric's (GE) deal for Alstom's (ALSMY) power equipment business is likely to face an intense EU antitrust investigation, says Reuters, citing people familiar with the matter. Reference Link
10:02 EDTHPQe.Digital Corporation files patent infringement lawsuits against HP, others
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09:04 EDTVRTXVertex data likely to show lung function improvement, says JMP Securities
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07:07 EDTGEBarclays to hold a conference
Industrial Select Conference is being held in Miami on February 18-19.
06:15 EDTHPQHP Q1 sales should be in-line despite currency, says Citigroup
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06:03 EDTBXAllen Systems Group reaches agreement with senior lenders on debt restructuring
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February 17, 2015
17:29 EDTIBMBerkshire Hathaway gives quarterly update on stakes, exits Exxon Mobil
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12:26 EDTIBMIBM launches new storage software
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07:24 EDTMCDExecutives' Club of Chicago to hold a breakfast meeting
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07:02 EDTBXRentech secures additional loan commitment of up to $63M from GSO Capital
Rentech, Inc. (RTK) announced that GSO Capital Partners LP, the credit investment arm of Blackstone (BX), has increased its credit facility for Rentech by up to $63M. The majority of the proceeds from this new facility are expected to fund completion of Rentech’s Canadian wood pellet projects through positive cash flow. Rentech now estimates the cost to complete the construction of its Canadian wood pellet projects to be $125M-$130M. Rentech expects that the new term loan, together with its other cash resources, will be sufficient to fund its Atikokan and Wawa pellet projects until they have been commissioned and begin to generate positive cash flow. Rentech currently estimates that the cost to acquire and construct the two plants will be $125M-$130M, up from $105M. The majority of the increase is due to delays in construction and higher labor costs for installation of electrical and mechanical components. Rentech expects that working capital and the cost to commission the plants will add approximately $6 to $10 million to the estimated total project cost. Rentech does not expect the plants to generate positive EBITDA or cash flow for the year 2015. Annual stabilized EBITDA projected for both plants remains in line with previous guidance of C$17M-C$20M.
February 16, 2015
17:24 EDTIBMFIS, Oracle among those exploring Monitise bid, Sky News reports
FIS (FIS) is among the U.S. companies considering a takeover bid for Monitise, the UK mobile banking software manufacturer which put itself up for sale last month, Mark Kleinman of Sky News reports. Other possible bidders include Oracle (ORCL) and IBM (IBM), Kleinman added. He pointed out that all of the takeover discussions are said to be at an early stage. Reference Link
February 15, 2015
15:42 EDTGEGE inaugurates new Indian manufacturing facility, Reuters says
General Electric inaugurated its new manufacturing facility in India this weekend that the conglomerate will use as an export hub, with plans to send half of its output to the company's global factories, says Reuters. The new Indian facility will be a major part of GE's plan to win increased domestic orders there, added Reuters. Reference Link
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