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Stock Market & Financial Investment News

News Breaks
June 13, 2014
16:43 EDTMRK, ULTA, LULU, INTC, DG, FDO, AAPL, SYNA, IGT, CG, APO, PPC, TSN, HSH, PCLN, OPEN, IDIX, HRBMarket ends week lower as Iraq fears weigh
Stocks finished the week lower, as fears about the revolution in Iraq and a potential civil war there, along with weak U.S. economic data, dragged down shares. MACRO NEWS: A revolution broke out in Iraq, as rebel fighters conquered a number of major cities in the northern section of the country and advanced towards the capital city of Baghdad. In the U.S., oil prices rose and stocks fell amid fears that a civil war could engulf Iraq, shutting down its sizable oil exports... Three key U.S. economic data points missed expectations, as an index of consumer sentiment, weekly jobless claims, and retail sales for May all missed consensus estimates. On a positive note, China said that its retail sales jumped 12.5% last month, beating market expectations and coming in at the highest level since last December. COMPANY NEWS: M&A deal flow continued to be strong. On Monday, Merck (MRK) agreed to buy Idenix (IDIX), which has developed a treatment for hepatitis C, for $3.85B, or $24.50 per share, which was more than triple the company's closing price on Friday. Tyson Foods (TSN) raised its bid for Hillshire Brands (HSH) to $63 per share in cash, or $8.55B, prompting rival Pilgrim's Pride (PPC) to withdraw its own takeover proposal. Priceline (PCLN) agreed to buy OpenTable (OPEN), which operates on online restaurant reservation platform, for $103 per share, or $2.6B. Synaptics (SYNA) agreed to buy Renesas SP Drivers, which supplies display driver chips for Apple's (AAPL) iPhones. Reuters reported that several companies, including Apollo Global (APO) and Carlyle Group (CG), are looking to buy International Game (IGT), which develops gaming equipment for casinos. Well-known activist investor Carl Icahn disclosed that he had obtained a significant stake in discount retailer Family Dollar (FDO) and subsequently told Fox Business that he may push for a merger between the company and peer Dollar General (DG)... Intel (INTC) raised its Q2 revenue outlook, citing stronger than expected demand for business PCs... Yoga apparel maker lululemon (LULU) sank after the company lowered its full-year guidance, while beauty supply store operator Ulta Salon (ULTA) and tax preparer H&R Block (HRB) rose after reporting stronger than expected results. INDEXES: The Dow was down 0.88% to 16,775.74, the S&P 500 was down 0.68% to 1,936.16, and the Nasdaq was down 0.25% to 4,310.65.
News For MRK;IDIX;OPEN;PCLN;HSH;TSN;PPC;APO;CG;IGT;SYNA;AAPL;FDO;DG;INTC;LULU;ULTA;HRB From The Last 14 Days
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October 9, 2014
09:18 EDTAAPLApple says accounts for 'all input' in evaluating capital returns, CNBC reports
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09:10 EDTAAPLApple says will continue to evaluate capital return program, CNBC reports
After Carl Icahn urged Apple to make a tender offer that would meaningfully accelerate and increase the magnitude of its share repurchases, the company said in a statement to CNBC that is always appreciates the input of its shareholders and will continue to evaluate its capital return program.
08:53 EDTAAPLAbout 1,000 workers went on strike for several hours at Foxconn plant, WSJ says
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08:45 EDTAAPLIcahn says Apple should trade at $203 per share today
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08:42 EDTAAPLIcahn sees Apple launching UltraHD TV set in FY16
Carl Icahn stated in an open letter posted to his "Shareholder's Square Table" addressed to Apple CEO Tim Cook: "While Apple has not announced plans for a TV set and may never do so, we believe we have good enough reason to expect the introduction of an UltraHD TV set in FY 2016. We think television represents a large opportunity for Apple, one that reaches far beyond “the hobby” that Apple TV currently represents...As the home represents one compelling category for Apple, payments represents another...We estimate that, based upon Apple Pay’s rumored fee of 15 bps of all spend on credit and debit cards...and merchant deployment of NFC reaching 80%+ in 2017, Apple in the U.S. could generate revenues...of $2.5 billion in FY 2017 if it reaches 30% market share of all spend on U.S. credit and debit cards. The potential in the U.S. and internationally over a longer term is much larger."
08:41 EDTAAPLCooperman says Apple about 20% undervalued, still owns shares
Leon Cooperman of Omega Advisors is speaking on CNBC.
08:40 EDTAAPLIcahn calls Apple shares 'dramatically undervalued,' requests tender offer
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08:37 EDTAAPLIcahn calls Apple shares 'dramatically undervalued,' requests tender offer
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08:36 EDTAAPLIcahn requests Apple make tender offer for shares
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08:32 EDTMRKMerck HCV solutions becoming more credible, says Bernstein
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07:03 EDTINTCIntel quarter to be in-line or modestly better, says Piper Jaffray
Piper Jaffray expects Intel's quarterly results on October 14 to be in-line to modestly above consensus. The firm's channel checks indicate PC demand trends will remain stable into year-end amid solid corporate demand. Piper reiterates an Overweight rating on Intel with a $37 price target.
06:52 EDTAAPLTechnology producer settles China facility demonstrations, Reuters says
Hon Hai Precision Industry confirmed that it had settled a demonstration which involved close to 1K staff members at its Chongqing plant in China, and noted that manufacturing at the facility was not affected by the strike, according to Reuters, citing a statement from the company. Hon Hai constructs Apple (AAPL) products, as well as HP (HPQ) and Cisco (CSCO) computers and servers. The Chongqing facility isn't listed by Apple as one of its certified suppliers. Reference Link
06:48 EDTAAPLApple upgraded to Outperform from Perform at Oppenheimer
Oppenheimer upgraded its rating on Apple shares to Outperform saying the iPhone 6 will be the most successful phone launch to date "by far." Opco sees iPhone sales driving better than expected quarterly results into the first half of 2015 and believes Apple Pay and Apple Watch will keep investor interests high. The firm put a $115 price on shares. Apple closed yesterday up $2.05 to $100.80.
06:41 EDTAAPLApple upgraded to Outperform from Perform at Oppenheimer
06:33 EDTAAPLCourt considers whether to pay Amazon workers for security checks, WSJ says
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06:30 EDTAAPLApple suppliers push back plans to produce larger iPad, WSJ reports
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06:29 EDTAAPLIDC: Worldwide PC shipments down 1.7% in Q3, DigiTimes reports
Worldwide PC shipments are down 1.7% with 78.5M units shipped in Q3, reports DigiTimes, citing the IDC. Shipments in the US grew 4.3% to 17.3M, with growth centered from strong momentum in te portables category. Reference Link
06:26 EDTAAPLMIC: Taiwan smartphone shipments surpasses 5.4M in Q3, DigiTimes says
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06:26 EDTAAPLGoogle's tax arrangement facing new challenge by France, WSJ reports
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06:10 EDTLULUStocks with implied volatility below IV index mean; NKE LULU
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