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Stock Market & Financial Investment News

News Breaks
April 11, 2013
16:26 EDTMSFT, FIRE, FTNT, RAD, BIOL, ACAD, HLF, HPQ, INTC, PANWOn The Fly: Closing Wrap
Stocks on Wall Street were higher after initial jobless claims fell. The averages rose fairly steadily in the early hours of the session, though the initial rally stalled and the averages were range bound for much of the second half of the trading day. The Nasdaq was the laggard among the averages, as it was weighed down by declines in tech bellwethers Microsoft (MSFT) and Intel (INTC)... ECONOMIC EVENTS: In the U.S., initial jobless claims fell 42K from the prior week to 346K, versus an expectation for them to decline more modestly to 360K. Import prices declined 0.5% in March compared to the prior month, which was in-line with expectations, while export prices fell 0.4%, versus expectations for a 0.1% gain... COMPANY NEWS: Shares of a number of big-name tech companies were weaker after research firms IDC and Gartner both estimated that PC sales declined by double-digits in the first three months of the year. Microsoft, which was also downgraded by at least three firms, lost $1.35, or 4.44%, to $28.93, Intel slid 43c, or 1.95%, to $21.83 and Hewlett-Packard (HPQ) fell $1.44, or 6.45%, to $20.88... Herbalife (HLF) shares gained $1.08, or 2.9%, to $38.28 after the SEC and Department of Justice filed complaints against ex-KPMG partner Scott London for allegedly helping a friend trade on non-public information in that stock. The DOJ's complaint made reference to conversations in which London acknowledged rumors of Herbalife going private and activist investor Bill Ackman's short position on shares... MAJOR MOVERS: Among the notable gainers following FDA actions were ACADIA Pharmaceuticals (ACAD), up $5.13, or 64.37%, to $13.10 after the FDA approved its filing of a New Drug Application for a Parkinson's drug candidate, and BIOLASE (BIOL), up 59c, or 13.26%, to $5.04 after the FDA cleared its EPIC 10S soft tissue diode laser for use a surgical instrument. Also higher was Rite Aid (RAD), up 33c, or 18.44%, to $2.12 after its earnings and guidance beat expectations. Among the noteworthy losers was Fortinet (FTNT), down $2.85, or 13.04%, to $19.00 after reporting weaker than expected first quarter results. Several of its Internet security peers also lost ground, including Sourcefire (FIRE), down 86c, or 1.58%, to $53.58, and Palo Alto (PANW) down 55c, or 1.01%, to $54.16... INDICES: The Dow was up 62.90, or 0.42%, to 14,865.14; the Nasdaq was up 2.91, or 0.09%, to 3,300.16; and the S&P 500 was up 5.64, or 0.36%, to 1,593.37.
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July 16, 2014
09:37 EDTHPQActive equity options trading on open
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09:23 EDTINTCOn The Fly: Pre-market Movers
HIGHER: Time Warner (TWX), up 15% after company confirmed that it rejected an $80B takeover offer from 21st Century Fox (FOX, FOXA), as had been reported earlier this morning... Apple (AAPL), up 2% after announcing an enterprise mobile partnership with IBM (IBM), which is also up 2%... International Game (IGT), up 9.5% after agreeing to be acquired by GTECH for $4.7B in cash and stock... FireEye (FEYE), up 5% after shares upgraded at Goldman... Precision Drilling (PDS), up 4% after announcing strategic agreement with Schlumberger (SLB), upgraded at Deutsche Bank... Mellanox (MLNX), up 4.7% following upgrade at Jefferies. UP AFTER EARNINGS: Intel (INTC), up 5.4%... HCA Holdings (HCA), up 6%... Textron (TXT), up 3.2%... Abbott (ABT), up 1%. DOWN AFTER EARNINGS: PNC Financial (PNC), down 2.5%... MGIC Investment (MTG), down 3.6%. LOWER: Yahoo (YHOO), down 3% after downgraded at CRT Capital following second quarter earnings report... Ares Capital (ARCC), down 2.5% after filing to sell 11.85M shares of common stock... Nationstar (NSM), down 2.4% after downgraded at Wells Fargo... Walter Investment (WAC), which was also downgraded at Wells Fargo, down 1.6%.
08:55 EDTHPQBarclays tech hardware analyst holds an analyst/industry conference call
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08:09 EDTMSFT21Vianet and GigaTrust sign partnership agreement in China
21Vianet (VNET) and GigaTrust, provider of Microsoft (MSFT)-based email and document protection software solutions for mobile devices, have signed an exclusive partnership agreement for the China market. 21Vianet will market and sell the portfolio of GigaTrust security products to enterprises and Office 365 cloud subscribers in China.
08:05 EDTHPQ, INTCHP has positive read through from Intel results, says Pacific Crest
Pacific Crest has an upward bias on its estimates for HP (HPQ) following Intel's (INTC) positive comments on the PC market. The firm thinks that HP's stock could jump another 20% if enterprise PC fundamentals continue to improve. It keeps an Outperform rating on HP.
07:47 EDTINTCIntel price target raised to $50 from $40 at Drexel Hamilton
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07:39 EDTINTCIntel comments bode well for Mellanox, says Macquarie
Intel (INTC) said on its earnings call that the Haswell-EP Xeon E5 high-performance CPU built on the Grantley platform is already being shipped in pre-production quantities and is on track for a CYQ3 launch. Macquarie said Intel's commentary is a positive for the HPC market and Mellanox (MLNX) should see corresponding demand. Shares are Outperform rated with a $52 price target.
07:33 EDTINTCIntel price target raised to $45 from $40 at Jefferies
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07:17 EDTINTCIntel facing headwinds, says RBC Capital
After Intel reported stronger than expected results, RBC Capital thinks the company will be burdened by start-up costs in Q4 and 1Q15. The firm thinks there is a risk that the company's gross margins will drop and it keeps a Sector Perform rating on the shares.
07:06 EDTINTCIntel price target raised to $36 from $31 at Stifel
Stifel increased its price target on Intel after the company reported stronger than expected results for its June quarter and provided guidance for its September quarter that the firm views favorably. Stifel keeps a Buy rating on the shares.
07:01 EDTINTCIntel price target raised to $40 from $35 at Deutsche Bank
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07:00 EDTINTCIntel price target raised to $40 from $35 at Credit Suisse
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06:24 EDTMSFTMicrosoft aims to reduce 1K jobs in Finland, Reuters says
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06:14 EDTMSFTABI Research: More than 2B smartphones to ship in 2018, DigiTimes says
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06:08 EDTINTCIntel moving 360 employees from Israel to Ireland, Globes reports
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06:06 EDTINTCIntel upgraded to Buy from Neutral at B. Riley
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06:04 EDTINTCIntel upgraded to Buy from Neutral at UBS
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05:55 EDTINTCIntel price target raised to $37 from $31 at Piper Jaffray
Piper Jaffray raised its price target for Intel shares to $37 saying the company's momentum continues following its Q2 report. Piper keeps an Overweight rating on the stock.
05:52 EDTPANWPalo Alto assumed with a Conviction Buy at Goldman
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05:47 EDTFTNTFortinet initiated with a Neutral at Goldman
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