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Stock Market & Financial Investment News

News Breaks
August 8, 2014
12:34 EDTRPTP, MYL, MCD, MELI, NWSA, IRG, NVDAOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite the U.S. military having taken action in Iraq. Stock futures were sharply lower overnight but improved during the pre-market trading session, leading to higher open for the broader market. The move came after the president confirmed that U.S. forces made airstrikes in Iraq against ISIS forces. The averages struggled to find their direction in the early going, though momentum built to the upside as the morning continued and each of the equity indexes were firmly in positive ground by the noon hour. ECONOMIC EVENTS: In the U.S., productivity growth rose 2.5% in the second quarter, beating expectations for a rise of 1.6%. Second quarter unit labor costs, however, only increased 0.6%, which was below the 1% consensus forecast. Wholesale inventories increased 0.3% in June, and sales were up 0.2%, which were both below expectations. COMPANY NEWS: Shares of McDonald's (MCD) were virtually unchanged at noon despite the fact the company reported its comparable store sales fell 2.5% in July, which was significantly worse than expected. The fast food giant stated that its U.S. comparable sales were down 3.2% in the month compared to the same month of last year and that comp sales in Asia/Pacific, Middle East and Africa dropped 7.3%. The APMEA region's comparable sales decline reflects the impact of food quality and safety issues at a supplier to McDonald's and other food companies in China which caused a "significant negative impact" to results in China, Japan and certain other markets, the company noted. As a result of the China supplier issue, the company's previously issued global comparable sales forecast for 2014 is now at risk, McDonald's added. MAJOR MOVERS: Among the notable gainers was Raptor Pharmaceuticals (RPTP), which rose 25% after the company reported second quarter results and raised its expectations for sales of its Procysbi drug in this fiscal year. Also higher following their earnings reports were MercadoLibre (MELI), which rose 15%, and NVIDIA (NVDA), which gained nearly 7%. Among the noteworthy losers following their earnings reports were New Corporation (NWSA), which fell over 4%, and Ignite Restaurant Group (IRG), which dropped more than 31%. Also lower was Mylan (MYL), which said yesterday that it was delaying its investor day because it wants to come to its shareholders with a "full picture" for the Abbott (ABT) transaction and the stock was downgraded today to Sector Perform from Outperform at RBC Capital. The company also reported lower than expected Q2 earnings yesterday and gave below consensus Q3 EPS guidance and its stock was down 1.6% near noon. INDEXES: Near midday, the Dow was up 62.16, or 0.38%, to 16,430.43, the Nasdaq was up 8.01, or 0.18%, to 4,342.97, and the S&P 500 was up 6.75, or 0.35%, to 1,916.32.
News For MCD;NVDA;NWSA;MYL;IRG;MELI;RPTP From The Last 14 Days
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January 23, 2015
09:21 EDTMCDOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Infinera (INFN), up 13.2%... E-Trade (ETFC), up 5.6%... Starbucks (SBUX), up 5%... ResMed (RMD), up 3.2%. ALSO HIGHER: IVUS (VVUS), up 6.2% after being initiated with an Outperform at RBC Capital... Vitae Pharmaceuticals (VTAE), up 12.3% after 3M share Secondary priced at $11.90... lululemon (LULU), up 3.5% after being upgraded to Overweight from Neutral at JPMorgan. DOWN AFTER EARNINGS: Kimberly Clark (KMB), down 4.6%... Bank of New York Mellon (BK), down 2.1%... Altera (ALTR), down 4.4%... Kansas City Southern (KSU), down 3.3%... McDonald's (MCD), down fractionally. ALSO LOWER: LeapFrog (LF), down 32.8% after reporting preliminary third quarter results and withdrawing fiscal 2015 guidance... Molycorp (MCP), down 10.7% after being downgraded to Neutral from Buy at DA Davidson... Dreamworks (DWA), down 12% after announcing that it will cut 500 jobs, reduce films released per year, and seeing a $55M charge for 'The Penguins of Madagascar' and 'Mr. Peabody and Sherman'... Otonomy (OTIC), down 1.8% after secondary increased to 2.55M shares, priced at $29.25.
08:02 EDTMCDMcDonald's CEO: Our business continues to face meaninful headwinds
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08:02 EDTMCDMcDonald's sees FY15 CapEx $2B
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08:01 EDTMCDMcDonald's CEO: 2014 was a challenging year for McDonald's around the world
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08:00 EDTMCDMcDonald's reports Q4 global comparable sales down 0.9%
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07:59 EDTMCDMcDonald's reports Q4 EPS $1.13, consensus $1.22
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07:30 EDTMCDMcDonald's held accountable for franchisee decisions, sued for racism, WSJ says
Ten former McDonald's employees are suing the company for wrongful termination related to allegedly racist hiring practices in two Virginia locations, reports the Wall Street Journal. The lawsuit tests the implications of the National Labor Relations Board's recent decision to hold McDonald's responsible for franchisee decisions. Reference Link
05:30 EDTNVDAiQIYI, NVIDIA announce strategic partnership to establish R&D center
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January 22, 2015
15:32 EDTMCDNotable companies reporting before tomorrow's open
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14:13 EDTMCDMcDonald's technical notes ahead of results
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12:25 EDTMCDEarnings Preview: McDonald's sees 7c-10c hit to Q4 EPS from China supplier issue
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January 21, 2015
17:27 EDTMCDMcDonald's franchisees expect sales decline, CNBC reports
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09:19 EDTMCDMcDonald's January volatility elevated into Q4
McDonald's January weekly call option implied volatility is at 48, February is at 25, March is at 21, June at 18; compared to its 26-week average of 18 according to Track Data, suggesting large near term price movement into the expected release of Q4 on January 23.
January 20, 2015
14:37 EDTMYLTeva generic competition to Copaxone pushed out by ruling, says BMO Capital
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12:56 EDTMYLMylan says continues to believe '808 patent is 'invalid'
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10:40 EDTMYLMomenta Pharma sinks after Supreme Court rules on Copaxone
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09:54 EDTMELIMercadoLibre's Q4 revenue trending to $161M vs. consensus of $146.4M at ITG
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January 15, 2015
14:31 EDTMYLMylan launches generic Epivir-HBV tablets
Mylan (MYL) announced the U.S. launch of its Lamivudine Tablets, 100 mg, which is the generic version of GlaxoSmithKline's (GSK) Epivir-HBV. Mylan received final approval from the U.S. FDA for its Abbreviated New Drug Application for this product, which is indicated for the treatment of chronic hepatitis B virus infection associated with evidence of hepatitis B viral replication and active liver inflammation. Lamivudine Tablets, 100 mg, had U.S. sales of approximately $18.1M for the 12 months ending September 30, 2014, according to IMS Health. Currently, Mylan has 284 ANDAs pending FDA approval representing $109.1B in annual brand sales, according to IMS Health. Forty-four of these pending ANDAs are potential first-to-file opportunities, representing $29.3B in annual brand sales, for the 12 months ending June 30, 2014, according to IMS Health.
06:36 EDTMCDMcDonald's experimenting with new concepts in Australia, Reuters says
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06:30 EDTNVDAGoogle in talks with major automakers on driverless cars, Reuters reports
Google (GOOG) is in talks with many of the top automakers in the world, including Toyota (TM), GM (GM) and Ford (F), about developing driveless vehicles, the director of Google's self-driving car project said yesterday, according to Reuters. The tech giant has also hired a group of "traditional and nontraditional suppliers" to bolster its efforts, with Nvidia (NVDA) one of the latter group, the news service quoted the executive as saying. Google aims to bring driverless vehicles to the market by 2020, the executive said, Reuters reported. Reference Link
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