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Stock Market & Financial Investment News

News Breaks
September 3, 2013
12:51 EDTTU, CYTK, LF, NOK, MSFT, VZ, VOD, JAH, ALUOn The Fly: Midday Wrap
Investors came back to Wall Street following the long holiday weekend and bought stocks, sending the major averages higher on the first day of trading in September. The market, coming off its worst performing month of the year, reacted to the lack of military action by the U.S. in Syria as well as some better than expected economic data at home and abroad. ECONOMIC EVENTS: In the U.S., Markit's final PMI reading for August came in at 53.1, which missed the expectation for a 54.0 reading. The Institute for Supply Management's manufacturing PMI beat expectations with a rise to a 55.7 two-year high from 55.4 in July. Construction spending in July rose 0.6%, versus expectations for a 0.4% increase. In Europe, Markit's euro-zone manufacturing PMI rose to 51.4 in August from 50.3 in July. In Asia, China’s official PMI rose to 51.0 in August from 50.3 in July, while the HSBC/Markit manufacturing PMI rose to 50.1 from 47.7 in July. China's non-manufacturing PMI held relatively steady at 53.9, compared to 54.1 in the prior month. COMPANY NEWS: Two large merger and acquisition deals were announced as U.S. investors returned from Labor Day, including one that was largely expected and one that was quite unexpected. Verizon (VZ), as had been speculated last week, agreed to buy Vodafone's (VOD) 45% stake in their U.S. joint venture, Verizon Wireless, for $130B. Shares of both trading in New York fell following the announcement. Meanwhile, Microsoft (MSFT) agreed to buy Nokia’s (NOK) mobile phone business and license its patents for $7.2B. Following the deal, no less than five firms raised their rating on Nokia, which advanced about 30% near noon. Microsoft was the worst performing Dow component, falling over 6% after its purchase... In a smaller M&A deal that still involved a well-known brand, consumer products company Jarden (JAH) agreed to buy Yankee Candle Company for $1.75B. MAJOR MOVERS: Among the notable gainers was Alcatel-Lucent (ALU), which rose nearly 11% as some speculated it could be another M&A target following Nokia's deal. Also higher was Canadian wireless company Telus (TU), which rose more than 7% and was upgraded at BMO Capital after Verizon's large deal meant it will not be entering the Canadian wireless market for the time being. Among the noteworthy losers Cytokinetics (CYTK), which fell 23% after announcing a clinical trial of its drug omecamtiv did not hit its primary endpoint. Also lower were shares of educational toymaker LeapFrog (LF), which slid almost 5% after an analyst at BMO Capital Markets said the company's new LeapPad Ultra was disappointing and buggy during tests. INDEXES: Near noon, the Dow was up 11.28, or 0.08%, to 14,821.59; the Nasdaq was up 24.09, or 0.67%, to 3,613.96; and the S&P 500 was up 6.08, or 0.37%, to 1,639.05.
News For NOK;MSFT;VZ;VOD;JAH;ALU;TU;CYTK;LF From The Last 14 Days
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October 21, 2014
07:45 EDTMSFTMicrosoft CEO touts cloud revenue run-rate over $4B, BI reports
At a press event yesterday, Microsoft (MSFT) CEO Satya Nadella provided a number of figures about the strong performance of the company's Azure cloud business, including a revenue run rate of nearly $4.4B and that Azure is adding 10,000 new customers every week to its 350M active directory user base, reported Business Insider, which noted that Amazon Web Services (AMZN) is estimated to have roughly $4B in annual sales and that Salesforce.com (CRM) had a little over $4B in revenues last year. Reference Link
07:40 EDTVZVerizon reports Q3 retail postpaid ARPA up 3.5% to $161.24
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07:36 EDTVZVerizon backs FY14 target of 4% consolidated top-line growth
FY14 revenue consensus $126.08B. For the full year, results for consolidated adjusted and wireless segment EBITDA service margin will be dependent on Q4 volumes and installment take rates. Wireline segment EBITDA margin remains on track to expand on a full-year basis, Verizon said.
07:34 EDTVZVerizon sees FY14 capital spending near $17B
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07:33 EDTVZVerizon CEO says seeing continued, healthy demand for wireless, broadband
Verizon Communications Chairman and CEO Lowell McAdam said: "We have great confidence heading into the fourth quarter, as Verizon continues to deliver consistently strong operating and financial results. We see continued, healthy customer demand for wireless and broadband services, and we are encouraged by the growth we are starting to see in the areas of video delivery and machine-to-machine. Our cash generation remains strong, and last month we were pleased to announce board approval of a quarterly dividend increase for the eighth consecutive year."
07:32 EDTVZVerizon reports Q3 EPS 89c, consensus 90c
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October 20, 2014
15:36 EDTVZNotable companies reporting before tomorrow's open
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15:20 EDTMSFTMicrosoft confirms availability of Cloud Platform System, powered by Dell
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15:19 EDTVZVerizon technical commentary before earnings
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13:53 EDTVZEarnings Preview: Verizon sentiment mixed ahead of Q3 report
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12:09 EDTMSFTIBM hits 52 week low after earnings miss, 2015 profit target dropped
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09:36 EDTVODActive equity options trading on open
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08:00 EDTMSFTRBC Capital remains positive on Microsoft
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07:37 EDTCYTKCytokinetics completes review results from BENEFIT-ALS regarding tirasemtiv
Cytokinetics provided a program update today relating to tirasemtiv, the company's lead drug candidate from its skeletal muscle contractility program. The company announced that it has completed its review of results from BENEFIT-ALS and has concluded that effects observed on Slow Vital Capacity in patients treated with tirasemtiv are robust and potentially clinically meaningful. In addition, following consultation with clinical and statistical experts, the company believes that data from BENEFIT-ALS support progression of tirasemtiv to a potential Phase III clinical trial in patients with amyotrophic lateral sclerosis (ALS). The company also announced that it has begun regulatory interactions with the U.S. Food and Drug Administration regarding results from BENEFIT-ALS and has received initial feedback from the FDA. The company believes that effects on SVC could be a Phase III clinical trial endpoint and could support registration of tirasemtiv as a potential treatment for patients with ALS. As a result, Cytokinetics has initiated planning for a potential Phase III clinical trial of tirasemtiv that could begin in 2015. Cytokinetics has received feedback from the FDA following initial communications regarding tirasemtiv and BENEFIT-ALS. The company believes that the FDA may be willing to consider a potential registration path for tirasemtiv relating to effects on SVC. The company expects to have additional interactions with the FDA and other regulatory authorities. In addition, the company has commenced Phase III readiness activities including designing a potential Phase III clinical trial in order to inform plans, timelines and costs associated with the further development of tirasemtiv.
07:17 EDTVZVerizon weekly volatility elevated into Q3 and outlook
Verizon October weekly call option implied volatility is at 25, November and January is at 16; compared to its 26-week average of 15 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 21.
07:06 EDTMSFTNICE Systems solution qualified to support Microsoft Lync
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October 19, 2014
20:41 EDTMSFTMicrosoft plans smartwatch launch within weeks, Forbes says
Microsoft (MSFT) is planning a smart watch launch within the next few weeks, Forbes says.The smart watch will passively keep track of the wearer’s heart rate and work across different mobile platforms, added Forbes. Apple (AAPL) has delayed its own smartwatch launch to early 2015 according to the report. Reference Link
October 17, 2014
11:27 EDTMSFTMicrosoft October weekly volatility elevated into Q1 and outlook
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06:30 EDTMSFTNPD: Sony PlayStation4 outsells XBox One in September, GameSpot reports
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06:26 EDTMSFTSony says PS4 September's top-selling console
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