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Stock Market & Financial Investment News

News Breaks
June 17, 2014
16:27 EDTCBI, MCRS, ACOR, SCTY, GWPH, ORCLOn The Fly: Closing Wrap
Stocks on Wall Street began the day in negative territory, thanks in part to worse than expected economic data. The consumer price index came in higher than expected, while housing starts and building permits both came in well below analysts' consensus forecasts. The averages drifted off their opening lows and eventually made it into positive territory, where the market drifted for most of the rest of the day. The volume was light, as investors sat on the sidelines while the Federal Reserve board convened for the central bank's latest rate setting and policy meeting. ECONOMIC EVENTS: In the U.S., the consumer price index rose 0.4% in May, which was above the consensus forecast for an increase of 0.2%. Housing starts in the month declined 6.5% to a rate of about 1M and building permits slid 6.4% to a rate of 991K, which were both lower than expected. The Federal Reserve began its latest Federal Open Market Committee meeting, which will conclude tomorrow. COMPANY NEWS: Elon Musk's SolarCity (SCTY) advanced $9.65, or 17.58%, to $64.53 after the solar energy system installer agreed to acquire solar panel technology and manufacturing company Silevo for up to $350M dollars. SolarCity said it sees its manufacturing capacity allowing it to create "the most vertically integrated solar company" with an "industry-leading" cost structure that aims to make solar competitive with grid costs. The company also said it is in talks with the state of New York to build a plant with targeted capacity greater than 1 GW within the next two years, which it says will be "one of the single largest solar panel production plants in the world." MAJOR MOVERS: Among the notable gainers was register system and hospitality software maker Micros Systems (MCRS), which surged $8.62, or 14.94%, to $66.33 after Bloomberg reported that the company is in talks to be acquired by tech giant Oracle (ORCL) for "more than" $5B. Also higher was GW Pharmaceuticals (GWPH), which jumped $12.57, or 16.27%, to $89.82 after it announced physician reports of efficacy and safety data on 27 children and young adults with treatment-resistant epilepsy who have been treated with GW's investigational cannabidiol product candidate, Epidiolex, for a period of 12 weeks. Among the noteworthy losers was Chicago Bridge & Iron (CBI), which fell $5.32, or 7.23%, to $68.26 after research firm Prescience Point alleged that the company has used "creative acquisition accounting" to conceal its losses and placed a Strong Sell rating on the shares. Also lower were shares of Acorda Therapeutics (ACOR), which fell $3.16, or 8.96%, to $32.12 after announcing an offering of $300M of convertible senior notes. INDEXES: The Dow was up 27.48, or 0.16%, to 16,808.49, the Nasdaq was up 16.13, or 0.37%, to 4,337.23, and the S&P 500 was up 4.21, or 0.22%, to 1,941.99.
News For MCRS;ORCL;SCTY;CBI;GWPH;ACOR From The Last 14 Days
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May 19, 2015
13:05 EDTORCLSalesforce deal talks may have 'died down,' dealReporter says
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May 18, 2015
15:25 EDTSCTYSolarCity management to meet with JPMorgan
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10:01 EDTCBIOn 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.
07:05 EDTCBIChicago Bridge & Iron upgraded to Neutral from Sell at Goldman
Goldman upgraded Chicago Bridge & Iron to Neutral with an increased price target of $55 from $40 based on higher market share following incremental LNG awards.
May 17, 2015
16:50 EDTORCLWhite House wavers on backing Google, Oracle in copyright suit, Reuters says
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May 15, 2015
16:51 EDTCBIGreenlight Capital gives quarterly update on stakes
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14:15 EDTCBIChicago Bridge & Iron jumps after reportedly in-line for big Anadarko deal
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10:55 EDTSCTYJANA Partners gives quarterly update on stakes
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May 14, 2015
13:49 EDTCBIToshiba expects to correct FY11-FY13 results by Y50B or more due to probe
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May 13, 2015
08:05 EDTCBIChicago Bridge & Iron awarded contract for Rio Grande LNG project
CB&I has been awarded a contract by NextDecade LLC, for the front end engineering and design and engineering, procurement and construction terms related to the Rio Grande LNG export project in Brownsville, Texas.
07:25 EDTCBIUBS to hold a tour
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May 12, 2015
07:52 EDTACORLeerink to hold a tour
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May 11, 2015
11:24 EDTGWPHGW Pharmaceuticals remains a top mid-cap pick at Piper Jaffray
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11:21 EDTGWPHGW Pharmaceuticals declined partnership offers, Bloomberg reports
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10:29 EDTGWPHFMR reports 10% passive stake in GW Pharmaceuticals
09:59 EDTCBIOn The Fly: Analyst Downgrade Summary
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09:22 EDTCBIChicago Bridge & Iron downgraded to Accumulate from Buy at Tudor Pickering
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07:32 EDTGWPHGW Pharmaceuticals initiates Phase 3 study of Epidiolex
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07:31 EDTGWPHGW Pharmaceuticals reports Q2 EPS (5c) , may not compare to one estimate ($1.12)
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06:10 EDTCBIStocks with implied volatility above IV index mean; AEO CBI
Stocks with implied volatility above IV index mean; American Eagle (AEO) 42, Chicago Bridge & Iron (CBI) 55 according to iVolatility.
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