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Stock Market & Financial Investment News

News Breaks
December 4, 2012
16:21 EDTNFLX, GERN, TEVA, CAKE, LMCA, UEPS, GALE, EAT, DIS, BIG, DIN, DRIOn The Fly: Closing Wrap
Stocks on Wall Street were slightly lower after a day marked by a light flow of news and economic data. Fiscal cliff headlines continued to come out of Washington, with President Obama speaking to Bloomberg TV in his first interview since the election, though the market had a limited reaction to the President's comments... ECONOMIC EVENTS: No major economic data was released in the U.S. Internationally, the Reserve Bank of Australia cut its key benchmark interest rate to 3.00% from 3.25%, as expected, and the Bank of Canada maintained its target for its overnight rate at 1%... COMPANY NEWS: Netflix (NFLX) announced a distribution agreement that gives it exclusive U.S. subscription rights to Disney (DIS) films beginning in 2016. Shares of Netflix jumped following the news, advancing $10.65, or 14.01%, to $86.65. Shares of Disney, which had been lower during much of the session, eventually pared losses to close up 1c, or 0.02%, to $49.30. Meanwhile, Liberty Media (LMCA), whose Starz unit currently holds the rights to Disney movies under a deal that expires in 2015, declined $5.42, or 4.88%, to $105.63... Darden Restaurants (DRI) warned its profit for the current quarter and the year may fall well short of analyst expectations and shares plunged following the guidance, finishing the day down $5.02, or 9.58%, to $47.40. Shares of peers in the casual restaurant industry, including Brinker (EAT), Cheesecake Factory (CAKE) and DineEquity (DIN), moved lower as well... MAJOR MOVERS: Among the notable gainers were Galena Biopharma (GALE), up 20c, or 9.80%, to $2.24 after signing a commercialization partnership for its NeuVax drug with Teva (TEVA), and Big Lots (BIG), up $3.23, or 11.52%, to $31.27 after its quarterly losses were not as steep as expected. Among the noteworthy losers was Net 1 UEPS (UEPS), which plunged $4.62, or 58.93%, to $3.22 after disclosing the DOJ and FBI are investigating the company for potential violations of the Foreign Corrupt Practices Act. Also lower were shares of Geron (GERN), down 34c, or 22.97%, to $1.14 after it discontinued development of a treatment for brain cancer, announced job cuts and said its CFO is leaving the company to pursue other opportunities... INDICES: The Dow was down 13.82, or 0.11%, to 12,951.78; the Nasdaq was down 5.51, or 0.18%, to 2,996.69; and the S&P 500 was down 2.41, or 0.17%, to 1,407.05.
News For NFLX;DIS;LMCA;DRI;EAT;CAKE;DIN;GALE;TEVA;BIG;UEPS;GERN From The Last 14 Days
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December 8, 2014
07:08 EDTGALEGalena GALE-401 Phase 1 results show reduced platelet counts, tolerable safety
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06:47 EDTTEVAArena says Teva files marketing authorization of Belviq in Israel
Arena Pharmaceuticals (ARNA) disclosed late Friday that Teva Pharmaceutical's (TEVA) local Israeli subsidiary, Abic Marketing Limited, has filed for marketing authorization of Belviq in Israel. In connection with the filing, Arena will receive a milestone payment of $250K.
December 5, 2014
16:56 EDTNFLXNetflix initiated with a Neutral at UBS
Target $370.
16:54 EDTDISDisney initiated with a Buy at UBS
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16:36 EDTBIGOn The Fly: Closing Wrap
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12:50 EDTBIGOn The Fly: Midday Wrap
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12:10 EDTUEPSNet 1 UEPS says court extends SASSA tender deadline to February 2015
Net 1 UEPS Technologies provided a further update on the SASSA tender process. Following the submission of further affidavits and arguments, the South African Constitutional Court issued directions on December 5 stating: SASSA must; extend the deadline for the submission of bids to February 27, 2015; finalize its proposed amendments to the RFP by December 15, 2014 and file a copy of the draft amended RFP with the Court by December 20; circulate the draft amended RFP to all litigating parties and all the other bidders by December 20; issue a bidder's notice calling upon all bidders to furnish objections or questions to the draft amended RFP to SASSA by January 15, 2015. The court said the litigating parties may, if they so choose, file further short affidavits in the application itself by January 20, 2015 and may, if they so choose, file further written submissions, not longer than 20 pages, on any issue that may remain after the process set out has been completed, by January 27, 2015.
12:03 EDTBIGFive Below plummets after Q4, FY14 outlooks trail analysts' estimates
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11:26 EDTBIGBig Lots tumbles after earnings, levels to watch
The shares are close to the session lows, down 13.6% to $41.37. The low of the day at $40.74 is current support. The share price loss today is beginning to close the bullish gap up in shares from May. This is bearish for future price with next supports below today's low at $40 and then the bottom of the gap at $37.68. Resistance is at $42.50.
11:23 EDTNFLXOption volume leaders
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10:46 EDTBIGBig Lots tumbles after Q3 results misses estimates
Shares of closeout retailer Big Lots (BIG) are lower this morning after the company's third quarter earnings failed to meet analyst estimates. WHAT'S NEW: Big Lots reported Q3 earnings per share of (6c) and revenue of $1.11B, missing analysts' consensus estimates of (5c) and $1.12B, respectively. Same store sales increased 1.4% for the quarter, the company said. Big Lots said Jennifer, its core customer, is responding positively to the improved merchandising strategies such as the recent expansion of its Food category and the Furniture lease-to-purchase program. Inventory ended the quarter at $1.08B vs. $1.24B for the previous year. Looking ahead, Big Lots raised the high end of its fourth quarter EPS view to $1.70-$1.80 from $1.70-$1.76 against analysts' consensus estimates of $1.78. and backed its Q4 SSS view of a low single digit increase. For fiscal year 2014, Big Lots backed its FY14 EPS view of $2.40-$2.50 against analysts' estimates of $2.49 and SSS guidance of up 1%-2%. WHAT'S NOTABLE: During the conference call to discuss Q3 earnings, Big Lots said it expects to see double digit drops in Electronics in the fourth quarter. Big Lots said it was encouraged by the start of November where comps were up by 2%, but also commented on less than favorable results from Thanksgiving and Black Friday, with one executive noting the lack of traffic at store checkouts during Black Friday. The retailer also said it sees positive opportunity for January in food, furniture and home. PRICE ACTION: During morning trading, Big Lots fell $6.56, or 13.68, to $41.39. OTHERS TO WATCH: Five Below (FIVE), which reported in-line third quarter EPS and a lower-than-expected fourth quarter and fiscal year 2014 outlook, is down 12.3% to $37.56.
10:35 EDTBIGHigh option volume stocks
High option volume stocks: NOAH FRAN BIG GREK KEY VIAB STRZ ALKS QTWW ONNN
09:17 EDTBIGOn The Fly: Pre-market Movers
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08:22 EDTBIGBig Lots expects to see double digit drops in electronics in Q4
08:13 EDTBIGBig Lots plans to open 24 new stores and close 57 US stores in 2015
Encouraged by start in November where comps up by 2%. The company, however, said Thanksgiving and Black Friday results down from prior year. Believes January has opportunity in food, furniture and home. Comments taken from Q3 earnings conference call.
07:54 EDTTEVALannett names Michael Bogda as president, effective December 1
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06:23 EDTGERNGeron volatility flat into American Society Hematology Annual Meeting
Geron December call option implied volatility is at 106, January is at 115, March is at 104; compared to its 26-week average of 106 according to Track Data, suggesting non-directional price movement into 56th American Society Hematology Annual Meeting abstract presentations.
06:05 EDTBIGBig Lots backs FY14 EPS view of $2.40-$2.50, consensus $2.49
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06:04 EDTBIGBig Lots raises high-end of Q4 EPS view to $1.70-$1.80 from $1.70-$1.76
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06:01 EDTBIGBig Lots reports Q3 EPS (6c), consensus (5c)
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