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Stock Market & Financial Investment News

News Breaks
February 14, 2013
17:18 EDTNWSA, TSO, MS, EQIXThird Point reports new stakes in News Corp., Tesoro, Morgan Stanley, Equinix
News For NWSA;TSO;MS;EQIX From The Last 14 Days
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September 30, 2014
08:59 EDTNWSANews Corp. sees Move, Inc. deal 'modestly accretive' in short term
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08:52 EDTNWSANews Corp. sees Move, Inc. deal to close in 2Q15
News Corp (NWSA) believes Move, Inc. (MOVE) is in a unique position and holds an important role for the company to expand in the digital real estate industry. Says this is the most significant acquisition the company has made since launching as a separate company last summer. Says this acquisition allows the company to stay committed to returning capital to shareholders. Says believes that Move Inc.'s strategy is different that that of Trulia (TRLA) and Zillow (Z). Says expects that the transaction will be very modestly EPS valued in the short term. News Corp continues to expect to generate positive cash flow regardless of the acquisition. Says Move, Inc. will improve and enhance the core media assets of News Corp. Comments made during a conference call discussing News Corp's acquisition of Move, Inc.
06:34 EDTNWSANews Corp to acquire Move, Inc. for $21 per share, or approximately $950M
News Corp and Move, Inc. announced that News Corp has agreed to acquire Move. REA Group Limited, which is 61.6% owned by News Corp and is the operator of Australian residential property website, realestate.com.au, plans to hold a 20% stake in Move with 80% held by News Corp. Under the acquisition agreement, which has been unanimously approved by the board of Move, News Corp will acquire all the outstanding shares of Move for $21 per share, or approximately $950M, via an all-cash tender offer. This represents a premium of 37% over Move’s closing stock price on September 29, 2014. REA’s share will be acquired for approximately $200M. News Corp intends to commence a tender offer for all of the shares of common stock of Move within 10 business days, followed by a merger to acquire any untendered shares. News Corp. CEO Robert Thomson said, "In addition to boosting Move’s subscription, advertising and software services, this acquisition will give News Corp a significant marketing platform for our media assets, which will benefit from the high-quality geographic data generated by real estate searches. We certainly expect this deal to amount to far more than the sum of the parts.” For the year ended December 31, 2013, Move reported $227M in revenues, and $29M in adjusted EBITDA5, and generated the highest revenue per unique user in the industry. Move will become an operating business of News Corp and remain headquartered in San Jose, California.
06:32 EDTNWSANews Corp to acquire Move, Inc. for $21 per share, or approximately $950M
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September 29, 2014
08:02 EDTEQIXCisco announces partnership with Equinix
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07:58 EDTMSWarren calls for hearing on 'disturbing' Fed tapes, Reuters reports
Two members of the the Senate Banking Committee, Democrats Elizabeth Warren and Sherrod Brown, called for an investigation into the issues raised by secretly taped conversations between officials at Goldman Sachs (GS) and supervisors at the New York Federal Reserve, reported Reuters. Other large U.S. banks include Bank of America (BAC), Citigroup (C), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
September 26, 2014
14:29 EDTMSAlibaba awards IPO banks $50M in incentive fees, Bloomberg says
According to people with knowledge of the matter, Alibaba (BABA) gave Credit Suisse (CS) and Morgan Stanley (MS) approximately half of the incentive fees that were awarded to the six banks responsible for overseeing its IPO, Bloomberg reports. Reference Link
September 25, 2014
15:10 EDTMSHolder resignation as AG positive for banks, says Rafferty Capital
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09:00 EDTNWSAGoogle responds to News Corp. criticism in blog post
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07:27 EDTMSMorgan sale of oil unit to Rosneft may break down over sanctions, Reuters says
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September 24, 2014
15:04 EDTMSGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
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09:59 EDTMSOn The Fly: Analyst Downgrade Summary
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07:41 EDTMSMorgan Stanley price target raised to $42 from $38 at UBS
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05:45 EDTMSMorgan Stanley downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded its rating on Morgan Stanley (MS) to Neutral saying shares look expensive and that it does not see the bank meeting its 10% return on equity target. JPMorgan sees better value in other investment banks, specifically UBS (UBS), and keeps a $34 price target for Morgan Stanley shares. The stock closed yesterday down 16c to $35.02.
September 23, 2014
10:02 EDTTSOOn The Fly: Analyst Initiation Summary
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10:02 EDTEQIXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Analog Devices (ADI) downgraded to Neutral from Overweight at JPMorgan... Bed Bath & Beyond (BBBY) downgraded to Market Perform at William Blair... Cameco (CCJ) downgraded to Neutral from Buy at BofA/Merrill... Clorox (CLX) downgraded to Neutral from Buy at Citigroup... Concur (CNQR) downgraded to Neutral from Buy at Roth Capital... Del Frisco's (DFRG) downgraded at Sterne Agee... Dick's Sporting (DKS) downgraded to Market Perform from Outperform at William Blair... Dresser-Rand (DRC) downgraded to Hold from Buy at KeyBanc... Equinix (EQIX) downgraded to Market Perform from Outperform at Wells Fargo... Fluor (FLR) downgraded at Wells Fargo... Gordmans Stores (GMAN) downgraded at Canaccord... Jacobs Engineering (JEC) downgraded to Market Perform from Outperform at Wells Fargo... Nanometrics (NANO) downgraded to Hold from Buy at Canaccord... ON Semiconductor (ONNN) downgraded to Neutral from Overweight at JPMorgan... Siemens (SIEGY) downgraded to Equal Weight from Overweight at Barclays... Sigma-Aldrich (SIAL) downgraded to Hold from Buy at KeyBanc... Taminco (TAM) downgraded to Hold from Buy at Jefferies... Viasystems (VIAS) downgraded to Hold from Buy at Canaccord... Watsco (WSO) downgraded to Accumulate from Buy at Global Hunter.
06:06 EDTTSOTesoro initiated with a Neutral at JPMorgan
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05:28 EDTEQIXEquinix downgraded to Market Perform from Outperform at Wells Fargo
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September 19, 2014
10:07 EDTNWSAHigh option volume stocks
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September 18, 2014
14:08 EDTMSBanks look to high-interest personal loans to boost revenue, WSJ says
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