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Stock Market & Financial Investment News

News Breaks
March 21, 2014
12:22 EDTSYMC, V, ANN, NKE, RALY, ECYTOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Dow and S&P rising to record highs and the Nasdaq a bit below its starting level. Stocks began the session in positive ground as traders rolled out positions due to “quadruple witching,” when stock index futures, stock index options, stock options, and single stock futures expire. The market soon found a level and has moved in a fairly narrow range during the morning, which is typical as quadruple expirations days tend to be more volatile at the open and the close. ECONOMIC EVENTS: In the U.S., no notable economic reports were released. COMPANY NEWS: Shares of Dow-member Nike (NKE) fell 3% despite the company reporting third quarter adjusted profits that beat analysts’ forecast. Nike said it expect its revenue to come in at the top end of its high-single digit growth target range in this fiscal year, but cautioned that the devaluation of developing market currencies will be a "significant drag" on reported revenue, gross margin and profit growth in fiscal year 2015... Visa (V) shares gained over 2.5% after Bloomberg and Reuters reported that a federal appeals court ruled the Federal Reserve was authorized to cap debit card swipe fees, reserving a prior lower court ruling in favor of retailers who oppose the cap. MAJOR MOVERS: Among the notable gainers was Endocyte (ECYT), which was up more than 90% near midday after the company announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency issued "positive opinions" for conditional authorizations for its Vynfinit, Folcepri and Neocepri treatments. The company also announced a Phase 2b lung cancer trial met its primary endpoint. Following both pieces of news, no fewer than three analyst firms increased their price target on the stock. Also higher was Ann Inc. (ANN), which gained 14% after Golden Gate Capital last night disclosed a 9.5% stake in the retailer and said it plans to leverages its retail and equity experience to create value for shareholders. Among the noteworthy losers was Symantec (SYMC), which sunk 14% near noon after the company last night announced it terminated its CEO, Steve Bennett. No fewer than five analysts downgraded shares of the company following the news. Also lower was Rally Software (RALY), which fell more than 8% after the cloud software company gave a first quarter and fiscal 2015 outlook that came in below expectations. INDEXES: Near midday, the Dow was up 102.79, or 0.63%, to 16,433.84, the Nasdaq was down 0.48, or 0.01%, to 4,318.80, and the S&P 500 was up 9.26, or 0.49%, to 1,881.27.
News For NKE;V;ECYT;ANN;SYMC;RALY From The Last 14 Days
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December 18, 2014
07:04 EDTNKENike December volatility increases into Q2 and outlook
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December 17, 2014
10:02 EDTSYMCOn The Fly: Analyst Downgrade Summary
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08:31 EDTVVisa MasterCard shares undervalued, says Bernstein
Bernstein believes that the current valuations of Visa (V) and MasterCard (MA) suggests that their payments volumes growth will decelerate to 6%-7% by 2017. The firm disagrees with this view, as it expects the companies to generate double digit volume growth for five to ten more years, Bernstein keeps Outperform ratings on both stocks.
05:40 EDTSYMCSymantec downgraded to Market Perform from Outperform at William Blair
William Blair downgraded Symantec to Market Perform citing valuation as it believes upside from the company's business split is largely reflected in shares at current levels.
December 16, 2014
09:59 EDTNKEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BB&T (BBT) initiated with a Neutral at Guggenheim... Bank of America (BAC) initiated with a Buy at Guggenheim... Ciena (CIEN) initiated with a Neutral at Wedbush... Cimarex Energy (XEC) initiated with a Perform at Oppenheimer... Citigroup (C) initiated with a Neutral at Guggenheim... Extended Stay America (STAY) initiated with a Market Perform at JMP Securities... Infinera (INFN) initiated with a Neutral at Wedbush... JPMorgan (JPM) initiated with a Neutral at Guggenheim... Morgan Stanley (MS) initiated with a Buy at Guggenheim... Newfield Exploration (NFX) initiated with an Outperform at Oppenheimer... Nike (NKE) initiated with a Market Perform at Cowen... PNC Financial (PNC) initiated with a Neutral at Guggenheim... Peak Resorts (SKIS) initiated with an Outperform at FBR Capital... Peak Resorts initiated with an Outperform at Oppenheimer... Ralph Lauren (RL) initiated with an Outperform at Cowen... U.S. Bancorp (USB) initiated with a Neutral at Guggenheim... Under Armour (UA) initiated with an Outperform at Cowen... Wells Fargo (WFC) initiated with a Neutral at Guggenheim... Whiting Petroleum (WLL) initiated with an Outperform at Oppenheimer... Lowe's (LOW) initiated with a Neutral at Nomura... Home Depot (HD) initiated with a Neutral at Nomura... Estee Lauder (EL) initiated with a Buy at KeyBanc... Huntsman (HUN) initiated with a Buy at Nomura... Dow Chemical (DOW) initiated with a Buy at Nomura.
December 15, 2014
16:17 EDTNKENike initiated with a Market Perform at Cowen
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15:27 EDTNKEKering explored sale of Puma athletic brand, Bloomberg reports
Kering SA (PPRUY), which owns Gucci, Puma, and other brands, contacted potential buyers earlier this year to gauge interest in a potential a sale of the sportswear company, though the talks haven't lead to any takeover proposals yet, according to Bloomberg, citing people familiar with the matter. Other companies in the sportswear space include Nike (NKE), Under Armour (UA), lululemon (LULU) and Adidas (ADDYY). Reference Link
10:00 EDTNKEOn The Fly: Analyst Initiation Summary
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09:24 EDTNKENike initiated with a Buy at Buckingham
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09:18 EDTANNAnn Inc. management to meet with Oppenheimer
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07:42 EDTNKENike price target raised to $110 from $96 at UBS
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December 12, 2014
09:01 EDTNKENike December volatility increases into Q2 and outlook
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December 11, 2014
06:33 EDTNKENike CIO Anthony Watson leaves company after 10 months, Business Insider reports
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December 10, 2014
09:15 EDTNKENike price target raised to $105 from $100 at Credit Suisse
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07:25 EDTNKENike sues employees who left for Adidas for stealing trade secrets, ESPN reports
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December 9, 2014
17:03 EDTNKENike appoints Tom Peddie as VP and GM of the Emerging Markets
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December 8, 2014
14:50 EDTVVisa price target raised to $295 from $260 at Argus
Argus raised its FY15 and FY16 adjusted EPS estimates for Visa (V) and correspondingly increased its price target on the stock to $295 from $260. The firm, which keeps a Buy rating on Visa, expects rising transaction volume to lead to higher consensus earnings estimates and believes the stock should trade at a higher multiple than peer MasterCard (MA), given its faster EPS growth rate and more consistent earnings performance.
10:00 EDTNKEOn The Fly: Analyst Downgrade Summary
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06:38 EDTNKENike downgraded to Market Perform from Outperform at Telsey Advisory
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06:13 EDTVStocks with implied volatility below IV index mean; WFM V
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