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Stock Market & Financial Investment News

News Breaks
July 11, 2013
12:19 EDTMSFT, AMD, BPI, MACK, KOGOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the S&P 500 eclipsed its all-time closing high and stood within points of its record intraday high. The strength in the equity markets comes after Federal Reserve Chairman Ben Bernanke gave a speech in Massachusetts yesterday afternoon. During his Q&A session, Bernanke noted that that even though the Fed may begin reducing its bond buying soon, interest rates will stay pinned at their current low levels for a long time. The chairman also pointed out that the unemployment rate probably understates the weakness in the labor market evidenced by other measures, such as the labor participation rate. Though Bernanke may not have intended to deliver a major monetary message, investors appear to be receiving it as such, driving the averages higher again. ECONOMIC EVENTS: In the U.S., initial jobless claims in the week ended July 6 jumped a more-than-expected 16K to 360K. Import prices fell 0.2% from the prior month in June, versus expectations for them to be flat. COMPANY NEWS: Microsoft (MSFT) announced the details of what the company called its "One Microsoft" reorganization plan. The new structure focuses the company’s engineering efforts around four areas: OS, Apps, Cloud, and Devices. Also of note, the company's Windows and Office products will fall under new leadership following the realignment. On a down note for the software maker was data released last night by market researcher Gartner that showed second quarter global PC shipments fell 10.9% to 76M, while another researcher, IDC, pegged the decline at 11.4%. MAJOR MOVERS: Among the notable gainers was Bridgepoint Education (BPI), which surged 20% after the company's flagship college, Ashford University, was granted accreditation, after having been denied accreditation last year. Also higher were shares of Advanced Micro Devices (AMD), which rose nearly 10% following upgrades at two Street research firms. Among the noteworthy losers was Merrimack Pharmaceuticals (MACK), which fell 20% after the company filed to sell $50M in common stock and $75M in convertible senior notes. Also lower was Kodiak Oil & Gas (KOG), which slid more than 2% after The Wall Street Journal said, citing sources, that the company had hired bankers last year to field interest from possible takeover suitors, though talks with potential buyers did not result in a deal. INDICES: Near noon, the Dow was up 129.98, or 0.85%, to 15,421.64; the Nasdaq was up 41.83, or 1.19%, to 3,562.59; and the S&P 500 was up 16.15, or 0.98%, to 1,668.77.
News For MSFT;AMD;BPI;MACK;KOG From The Last 14 Days
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October 13, 2014
13:10 EDTMSFTGoogle's Schmidt says Amazon is company's biggest search rival, FT reports
Eric Schmidt, the executive chairman of Google (GOOG), says Amazon (AMZN) is his company's biggest rival in search, not Bing (MSFT) or Yahoo (YHOO), the Financial Times reports. Schmidt also argued in Berlin that Google should not be regulated "as if it were the gatekeeper of the internet," given the influence of Amazon and Facebook (FB). Reference Link
09:09 EDTMSFTMicrosoft Q1 results likely to beat expectations, says Bernstein
Bernstein believes that Microsoft's cloud business continues to grow, and it expects adoption of the company's cloud products to accelerate this quarter. The firm reiterates a $56 price target and Outperform rating on the shares.
07:15 EDTMSFTNational Association of Corporate Directors to hold a conference
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October 10, 2014
09:24 EDTKOGKodiak Oil & Gas volatility increases as share and energy prices trend lower
Kodiak Oil & Gas overall option implied volatility of 43 compares to its 26-week average of 37 according to Track Data, suggesting large price movement.
06:30 EDTMACKMerrimack coverage assumed with an Outperform at Oppenheimer
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October 9, 2014
14:00 EDTAMDTiming of AMD CEO changes suggest another disappointing quarter, says Argus
After AMD announced last night that its CEO has stepped down, Argus notes that the change in the role is the fourth at the company since 2008 and that its suddenness suggests that its just ended quarter, which will be reported on in a week, will be disappointing. The firm believes executive turnover adds to the view that AMD’s business model is flawed or broken and Argus maintains its Hold rating on the stock.
13:39 EDTMSFTMicrosoft says committed to Surface Pro 3
Microsoft's Brian Hall acknowledged in a post to the company's Surface blog that the company has recently received a lot of interest and questions from businesses about Microsoft’s longer-term commitment to Surface is in businesses of all sizes. Surface Pro 3 will continue to support Windows 8.1 and be upgrade-able when Windows 10 is released, Hall stated. Hall also announced a limited-time Surface Laptop Replacement Bundle that provides up to $150 off of a Surface Pro 3, Type Cover and Docking Station when purchased together, available through Microsoft's authorized resellers in the U.S. starting immediately. "Businesses can buy with confidence. We are here to stay," Hall, the General Manager for Surface, stated in concluding the blog post. The Fly notes that DigiTimes, citing sources from the upstream supply chain, reported earlier that Microsoft may be planning to cancel the Surface tablet business as it continues to see weak sales for the Surface Pro 3. Reference Link
12:46 EDTBPIDoE policy changes a negative for select Education stocks, says Deutsche Bank
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10:00 EDTMSFTOn The Fly: Analyst Initiation Summary
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10:00 EDTAMDOn The Fly: Analyst Downgrade Summary
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09:38 EDTMSFTActive equity options trading on open
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09:20 EDTAMDOn The Fly: Pre-market Movers
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09:01 EDTMSFTSony moves step further toward sale of PS4 in China, WSJ says
Sony (SNE), which seeks to join Microsoft (MSFT) in selling video game consoles in China, may see a partner company start packaging its consoles in the nation in December, said The Wall Street Journal, citing a filing posted by a Sony local partner on the official website of Shanghai’s free-trade zone. A Sony spokesperson said the facility's ability to package 200,000 consoles a year, which was communicated in the filing, does not represent an actual business plan and declined to comment further on Sony’s plans. Reference Link
08:53 EDTMSFTAbout 1,000 workers went on strike for several hours at Foxconn plant, WSJ says
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08:08 EDTAMDAMD downgraded at Wedbush
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07:11 EDTAMDAMD downgraded to Neutral from Outperform at Wedbush
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06:42 EDTMSFTMicrosoft CEO admits 'mistakes' with Windows 8, Business Insider reports
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06:41 EDTMSFTMicrosoft initiated with a Market Perform at BMO Capital
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06:31 EDTMSFTFiling says Sony to begin console packaging in China, Bloomberg says
A filing on the website of the China Pilot Free Trade Zone said that Sony (SNE) is aiming to begin packaging over 200K new video game consoles starting in December in China, according to Bloomberg, citing the filing which was verified as authentic by a spokesman for Sony Computer Entertainment. The company is looking to accumulate sales in the country as the end of a 14-year ban on the devices approaches. Microsoft (MSFT) already began selling Xbox Ones in China. Reference Link
06:24 EDTMSFTMicrosoft rumored to cancel Surface tablet business, DigiTimes reports
Microsoft may be planning to cancel the Surface tablet business as it continues to see weak sales for its Surface Pro 3 tablet, reports DigiTimes. According to sources from the upstream supply chain, the first and second generation Surface tablets are estimated to have created losses of about $1.7B. Reference Link
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