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Stock Market & Financial Investment News

News Breaks
December 4, 2012
16:21 EDTBIG, DIN, DRI, NFLX, GERN, TEVA, CAKE, LMCA, UEPS, GALE, EAT, DISOn 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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March 17, 2015
16:00 EDTNFLXOptions Update; March 17, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 27.30. Option volume leaders: AAPL RIG MGM HTZ TWTR TSLA CY KO NFLX C according to Track Data.
13:06 EDTDIS, NFLXBattleground: Analysts take opposite sides on Netflix
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11:36 EDTDISApple may launch standalone TV in 2016, says Piper Jaffray
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11:23 EDTNFLXApple willing to share TV data to attract programming partners, NY Post reports
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10:26 EDTNFLX, TEVAOptions with increasing implied volatility
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09:34 EDTNFLXActive equity options trading on open
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09:10 EDTDISDISH announces four new A+E Network channels
Dish's (DISH) Sling TV announced that four A+E Networks’ channels -- A&E, HISTORY, H2 and Lifetime -- will be available in its “Best of Live TV” core package by the end of March. The company’s core package will remain priced at $20 per month. With this update also comes the introduction of two new add-on packs, “Lifestyle Extra” and “World News Extra,” each priced at an additional $5 per month. Sling TV will announce A+E Networks’ launch date and Video-On-Demand availability within the coming weeks. Sling TV plans to provide existing “News & Info Extra” subscribers with both the “Lifestyle Extra” and “World News Extra” for a total of $5 per month. A&E is jointly owned by Disney (DIS) and Hearst.
07:12 EDTNFLXConcerns over Netflix competition overblown, says Stifel
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05:50 EDTNFLXStocks with implied volatility movement; DD NFLX
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05:46 EDTDISApple set to launch online TV service this year, Financial Times reports
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March 16, 2015
16:28 EDTNFLXOn The Fly: Closing Wrap
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11:40 EDTTEVAEnzo Biochem to request rehearing of court of appeals decision
Enzo Biochem (ENZ) said, acting upon advice of counsel, that it disagrees with the March 16 split 2-to-1 decision of the Court of Appeals sitting in panel for the Federal Circuit that reverses-in-part and vacates-in-part the judgment in Enzo’s favor that Applera Corp., now Life Technologies (LIFE), infringed Enzo’s patents covering pioneering technologies relating to compounds used in DNA sequencing systems to read the genetic code, and remands the case to the District Court as to whether the accused product infringes. Counter to the District Court’s construction of the ‘767 patent as allowing for directly-detectable labels on nucleotides and polynucleotides, and counter to the jury’s verdict that the patent describes such labelling, the Court of Appeals, held such labelling excluded by claim 1 of that patent. Enzo notes also that the Court’s partial vacatur and reversal of the judgment does not end the case, but remands the case back to the District Court to find whether the accused product infringes. Enzo will request rehearing of that decision, both by the original panel and by the full en banc Court. Enzo believes rehearing is warranted by the panel’s failure to give appropriate weight to fact findings, including facts found by the jury, consistent with a broader construction of the patent, as required by the Supreme Court’s recent decision in Teva Pharmaceuticals (TEVA).
10:44 EDTNFLX, DISNetflix retreats after cut to sell on competition, cost concerns
The shares of Netflix (NFLX) are falling after research firm Evercore ISI downgraded the stock to Sell from Hold. Increased competition will force the company to increase its investments and the return from those investments is uncertain, the firm contends. WHAT'S NEW: In the U.S., technological advancements are enabling content providers to sell their programming to a wider range of Internet video distributors, Evercore ISI analyst Ken Sena wrote in a note to investors earlier today. Moreover, content providers themselves are now able to stream more of their programming online and obtain higher profits from doing so, Sena reported. The analyst noted that Apple (AAPL) recently obtained a three month exclusive deal to stream content form Time Warner's (TWX) HBO Now, while Yahoo (YHOO), Amazon (AMZN), and Hulu (DIS, CMCSA, NWSA) are all reportedly interested in obtaining streaming rights to "Seinfeld." Netflix's international expansion will not be sufficient to offset the increased competition, especially because foreign viewers are likely to watch less TV and be less interested in paying for TV content, the analyst believes. Furthermore, Netflix will face more competition from other Internet TV services overseas than in the U.S., according to Sena, who cut his 2015 consolidated operating income estimate for the company by 26% to $381M from $517M previously. In addition to cutting his rating, Sena lowered his price target on the shares to $380 from $450. PRICE ACTION: In early trading, Netflix sank $16, or 3.7%, to $422.
10:28 EDTNFLX, TEVAOptions with increasing implied volatility
Options with increasing implied volatility: PVA NFLX BMRN DNOW MYL TEVA PEP GE
10:02 EDTDIS, NFLXOn The Fly: Analyst Downgrade Summary
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09:37 EDTNFLXActive equity options trading on open
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08:44 EDTTEVAFDA warning on liquid bendamustine may help Eagle's EP-3102, says Piper Jaffray
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07:52 EDTNFLXNetflix downgraded at Evercore ISI
As previously reported, Evercore ISI downgraded Netflix to Sell from Hold. The firm downgraded shares and reduced its price target to $380 from $450 due to increasing competition among existing and emerging distributors combined with content providers who are becoming increasingly leveraged to new channels through OTT offerings of their own. Evercore ISI believes intensifying competition will necessitate increased investment with uncertain returns and lowered estimates.
07:45 EDTDISDisney downgraded to Neutral from Buy at BTIG
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06:16 EDTNFLXNetflix downgraded to Sell from Hold at Evercore ISI
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