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Stock Market & Financial Investment News

News Breaks
February 4, 2014
12:28 EDTMSFT, KORS, JCP, TTWO, FURX, PSMIOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, bouncing back after yesterday's sell-off, which was one of the worst in quite some time. Yesterday's decline came on the heels of a dismal January, during which the market put in its worst monthly performance since May 2012. The major averages are higher across the board, but have not regained even half of what was lost yesterday. ECONOMIC EVENTS: In the U.S., factory orders dropped 1.5% in December, versus expectations for a 1.8% decline. COMPANY NEWS: As had been predicted in various technology blogs in recent days, Microsoft (MSFT) promoted the head of its Cloud and Enterprise group, Satya Nadella, to take over as Chief Executive Officer for the departing Steve Ballmer. Bill Gates, one of the company's founders and formerly its chairman of the board, will assume a new role as Technology Advisor and will devote more time to the company, with lead independent director for the board John Thompson taking over as chairman... Shares of J.C. Penney (JCP) briefly rallied after the company reported its comparable store sales grew 3.1% during the Holiday period, but reversed and moved into negative ground shortly after the opening bell. Deutsche Bank said it believes investors were expecting a positive low-single digit gain in same-store sales and it does not view today's press release as material to the J.C. Penney story, while Sterne Agee cut its price target on the retailer's shares to $3 from $9. J.C. Penney shares declined over 9% near midday following the sales update. MAJOR MOVERS: Among the notable gainers was luxury goods maker Michael Kors (KORS), which soared 18% higher after the company's third quarter results soundly beat analysts' expectations. Also higher was Furiex Pharmaceuticals (FURX), whose shares more than doubled after the company’s two Phase III trials evaluating its drug for the treatment of diarrhea-predominant irritable bowel syndrome met both the FDA and the European Medicines Agency formally agreed-upon primary endpoints. Among the noteworthy losers was Peregrine Semiconducter (PSMI), which fell 17% after reporting a steeper than expected quarterly loss and being downgraded at Needham and JPMorgan. Also lower following an earnings report that prompted multiple downgrades was Take-Two Interactive (TTWO), which fell 9% despite reporting earnings that beat expectations and raising its profit outlook for the year. Wedbush downgraded Take-Two to Neutral from Outperform due to lack of visibility and said investors should be cautious about the product pipeline, while Benchmark Co. lowered its rating on the stock to Hold. INDEXES: Near midday, the Dow was up 101.96, or 0.66%, to 15,474.76, the Nasdaq was up 42.93, or 1.07%, to 4,039.89, and the S&P 500 was up 15.33, or 0.88%, to 1,757.22.
News For MSFT;KORS;JCP;TTWO;FURX;PSMI From The Last 14 Days
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October 8, 2014
11:00 EDTJCPJ.C. Penney reaffirms all FY guidance metrics
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10:59 EDTJCPJ.C. Penney sees $14.5B in total sales by 2017
CFO Ed Record says focused on restoring profitability. Says since 4Q13, has had three straight quarters of sales growth. Sees opportunities to improve SG&A and gross margin. Sees $3.5B sales growth opportunity over next three years: Sees continued share growth a $1M opportunity over three years, center core a $1M opportunity, home store a $750M opportunity, omnichannel a $800M opportunity. Sees $1.2B EBITDA growth opportunity over next three years. Sees sales growth in mid single digits through 2017. Free cash flow over next three years "at least" $600M. Comments made at J.C. Penney's Analyst Day.
10:33 EDTJCPJ.C. Penney says seeing "significant" shift to mobile
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10:25 EDTJCPJ.C. Penney says home is $750M growth opportunity
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09:20 EDTJCPJ.C. Penney says will expand Disney stops in stores to 680 from 500
09:20 EDTJCPJ.C. Penney CEOsays will open more Sephora shops in store
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09:20 EDTJCPOn The Fly: Pre-market Movers
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08:18 EDTJCPJ.C. Penney CEO Ullman says customers remain cautious
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06:13 EDTMSFTNon-Apple notebook, tablet demand to be weak till 2Q15, DigiTimes reports
Demand for non-Apple (AAPL) notebooks and tablets may remain weak until the second quarter of 2015, reports DigiTimes. Citing Taiwan makers, the pressure due to booming sales from Apple products may decrease sales until Microsoft (MSFT) launches Windows 10 next year. Demand for Samsung (SSNLF), Sony (SNE) , And HTC smartphones have also dropped worldwide recently. Reference Link
October 7, 2014
13:04 EDTJCPJ.C. Penney to host analyst day
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12:50 EDTMSFTSamsung aiming for arbitration versus Microsoft, Bloomberg says
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12:45 EDTMSFTMicrosoft near deal to buy text analysis start-up for about $200M, WSJ says
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12:45 EDTMSFTMicrosoft to hold cloud event on October 20
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10:52 EDTMSFTNokia suspends handset production at Chennai facility, Reuters reports
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10:13 EDTJCPJ.C. Penney volatility increases into company hosted analyst day
J.C. Penney October weekly call option implied volatility is at 118, October is at 72, November is at 57, January is at 55, February is at 53; compared to its 26-week average of 54 according to Track Data suggesting large near term price movement into a company hosted analyst day event on October 8.
09:42 EDTKORSMichael Kors mentioned positively at OTR Global
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07:48 EDTMSFTU.S. Chamber of Commerce to hold a discussion
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07:00 EDTMSFTReport says 100K Xbox Ones sold throughout China, Kotaku says
A report from Chinese video games news website 17173 said that Shanghai Media Group vice-president Zhang Dazhong accidentally noted that over 100K Microsoft Xbox One consoles sold throughout China during the first week they were launched, according to Kotaku, citing the report from 17173. Reference Link
October 6, 2014
06:49 EDTKORSMichael Kors global growth remains intact, says Piper Jaffray
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06:21 EDTMSFTMicrosoft 2015 solution may not help suppress Chromebook growth, DigiTimes says
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