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Stock Market & Financial Investment News

News Breaks
June 26, 2014
18:42 EDTMTW, AWRE, NKE, PRGS, DD, ANADOn The Fly: After Hours Movers
HIGHER: Manitowoc (MTW), up 11.14% after Relational Investors took an 8.52% stake in the company and urged for a spin-off of its food business... Aware (AWRE), up 19.72% after announcing a $1.75 per share special cash dividend. HIGHER AFTER EARNINGS: Nike (NKE), up 3.04%... Progress Software (PRGS), up 9.49%. LOWER: Du Pont (DD), down 2.13% after lowering its 2014 EPS outlook... ANADIGICS (ANAD), down 6.73% after giving weaker than expected Q2 guidance and announcing a workforce reduction of 140 positions.
News For MTW;AWRE;NKE;PRGS;DD;ANAD From The Last 14 Days
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October 22, 2014
08:32 EDTPRGSProgress Software announcse intent to acquire Telerik for $262.5M
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October 21, 2014
17:05 EDTAWREAware reports Q3 EPS 11c vs (5c) in Q313
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15:32 EDTDDU.S. EPA approves DuPont's Formacel 1100
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12:21 EDTDDHoneywell responds to EC statement of objections
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10:27 EDTDDDuPont aims to defend itself 'vigorously' against EC investigation
DuPont (DD) Chemicals & Fluoroproducts president Thierry Vanlancker commented on the European Commission's Statement of Objections. Vanlancker said, "DuPont has complied at all times with applicable laws in its development and commercialization of HFO-1234yf, and we plan to defend vigorously against the commission's allegations and preliminary conclusions. This is one step in a long process, and while it may take years to be resolved, we are confident that the Commission will ultimately conclude that actions taken by DuPont complied with applicable laws. We will fight this every step of the way, as it has no basis in law or fact. We are disappointed in the European Commission and in the process leading up to this point. DuPont and Honeywell (HON)developed HFO-1234yf jointly in response to the European Union's Mobile Air Conditioning Directive. This regulation requires automakers to use a refrigerant with very low global warming potential for vehicle air-conditioning systems. The regulatory timeframe was short considering the significant challenges of developing and commercializing a refrigerant that meets all the automotive industry's needs. This short timeframe was a primary reason for DuPont and Honeywell working jointly to develop HFO-1234yf. Regardless of the Statement, the EU MAC Directive remains in full force today, with all new vehicles required to use a refrigerant with a GWP of under 150 by January 2017."
09:04 EDTDDSunCoke Energy names Fay West as SVP, CFO
SunCoke Energy (SXC) and SunCoke Energy Partners, L.P. (SXCP) announced that Fay West has been promoted to SVP and CFO of both companies, reporting directly to Fritz Henderson, SunCoke’s Chairman and CEO. Fay was previously Vice President and Controller. This appointment is effective October 27. Mark E. Newman, SVP and CFO, has accepted the position of SVP and CFO of DuPont’s (DD) new Performance Chemicals Company.
October 20, 2014
07:15 EDTAWREAmerican Academy of Child & Adolescent Psychiatry to hold annual meeting
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October 16, 2014
14:13 EDTDDU.S farmers use less fertilizer this autumn as crop prices fade, Reuters says
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October 15, 2014
10:02 EDTNKEOn The Fly: Analyst Upgrade Summary
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08:28 EDTNKENike upgraded to Conviction Buy from Buy at Goldman
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06:12 EDTNKENike's Converse sues rivals over 'copycat' design, NY Post reports
Converse, a unit of Nike (NKE), is suing rivals including Ralph Lauren (RL) and Tory Burch, alleging that shoemakers and retailers are copying its iconic design, the New York Post reports. Lawyers for Converse say "We welcome fair competition, but we do not believe companies have a right to copy the trademarked look." The lawsuit seeks unspecified damages and injunctions that would bar the production of the rival shoe models. Reference Link
October 13, 2014
07:50 EDTMTWManitowoc price target lowered to $27 from $33 at RBC Capital
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October 10, 2014
13:08 EDTMTWOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and saw several swings throughout the morning. Near midday the averages were mixed, with the Dow a bit higher and the Nasdaq weighed down by weakness across the semiconductor sector. ECONOMIC EVENTS: In the U.S., the import price index fell 0.5% in September, versus expectations for a 0.7% decline. COMPANY NEWS: Shares of a number of semiconductor makers, including industry giant Intel (INTC), were sharply lower after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector has entered a correction. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it does business with over 80,000 customers and that it built a significant amount of inventory in the distribution channel in the September quarter. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future.” Near noon, Microchip dropped 11%, Intel fell almost 4%, Texas Instruments (TXN) slipped over 6%, Micron (MU) dropped 6% and Fairchild (FCS) declined 12%. MAJOR MOVERS: Among the notable gainers was Exact Sciences (EXAS), which rallied 35% after the company announced last night that the Centers for Medicare & Medicaid Services, or CMS, had agreed to cover the company's colorectal cancer and pre-cancer test through Medicare. Among the noteworthy losers were a number of companies that, similarly to Microchip, warned that their quarterly results will likely miss expectations, including Procera Networks (PKT), which plunged 34%, Manitowoc (MTW), which fell 9%, and Sizmek (SZMK), which dropped 21%. INDEXES: Near midday, the Dow was up 38.02, or 0.23%, to 16,697.27, the Nasdaq was down 35.89, or 0.82%, to 4,342.45, and the S&P 500 was up 0.42, or 0.02%, to 1,928.63.
12:05 EDTDDUSDA raises U.S. corn production estimate to 14.475B
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10:01 EDTMTWOn The Fly: Analyst Downgrade Summary
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10:01 EDTDDOn The Fly: Analyst Upgrade Summary
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09:00 EDTMTWOn The Fly: Pre-market Movers
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08:36 EDTMTWManitowoc downgraded at BMO Capital
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06:29 EDTMTWManitowoc downgraded to Underperform from Market Perform at BMO Capital
05:43 EDTDDDuPont upgraded to Buy from Hold at Jefferies
Jefferies upgraded DuPont to Buy citing the pullback in shares and its belief the company's capital return program should sustain low-teens earnings growth. The firm raised its price target for shares to $84 from $72.
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