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Stock Market & Financial Investment News

News Breaks
October 3, 2013
04:55 EDTNYX, NYX, YHOO, YHOO, FDP, FDP, INTC, INTC, AET, AET, TDC, TDC, ACXM, ACXM, CNO, CNO, HBAN, HBAN, GTI, GTI, LNC, LNCCorporate Board Member to host a summit
10th Annual Boardroom Summit is being held in New York on October 3-4.
News For NYX;GTI;HBAN;CNO;ACXM;TDC;AET;INTC;FDP;YHOO;LNC From The Last 14 Days
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January 26, 2016
12:16 EDTHBANOn The Fly: Top stock stories at midday
Stocks began the session in positive territory moved cautiously in the opening segment, before shooting higher following the better than expected consumer confidence reading. The Dow is the biggest winner and is up more than 1.5% while the Nasdaq has been lagging but is up more than 0.6%. ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. In Asia, Japan's Nikkei index fell 2.35% while China's Shanghai composite slid 6.4%. COMPANY NEWS: The volume of earnings reports took a step up, with four members of the bluechip Dow Jones Industrial Average posting results before the opening bell this morning. All four advanced on the heels of their reports, with 3M (MMM) leading the pack with a gain of 4.5% despite earnings, excluding restructuring charges, that missed the consensus forecast. The industrial conglomerate did, however, affirm its performance expectations for the new fiscal year. Meanwhile, Johnson & Johnson (JNJ) rose 3%, Procter & Gamble (PG) gained 2.7% and DuPont (DD) added 1.6%... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over next two years and announcing that it has agreed to sell AIG Advisor Group to private equity firm Lightyear Capital and Canadian pension investment manager PSP Investments. AIG also said it will pursue an initial public offering of United Guaranty in mid-2016 to sell up to 19.9% of the outstanding shares as a first step towards a full separation. However, the insurer said it believes a full breakup, as espoused by investor Carl Icahn, would detract from shareholder value, arguing that a lack of diversification benefits would reduce capital available for distribution and there would be a loss of tax benefits. MAJOR MOVERS: Among the notable gainers was Avis Budget (CAR), which rallied 7% after the company raised its share repurchase authorization by $300M and after SRS Investment reported a 9.5% stake in the company. Also higher were Sprint (S) and Coach (COH), which gained 20% and 11%, respectively, after reporting quarterly earnings. In addition, FirstMerit (FMER) rose 16% after reporting quarterly earnings and announcing that it will merge with Huntington Bancshares (HBAN) in a deal valued at $3.4B. Huntington Bancshares fell 10% after the FirstMerit merger agreement was announced. Also lower was Stratasys (SSYS), which dropped 6% after JPMorgan downgraded the shares to Neutral from Overweight. In addition, Polaris (PII) and Waters Corporation (WAT) were down 11% and 4.5%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 273.66, or 1.72%, to 16,158.88, the Nasdaq was up 49.20, or 1.09%, to 4,567.69, and the S&P 500 was up 25.96, or 1.38%, to 1,903.04.
09:15 EDTHBANOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Sprint (S), up 19.5%... Rambus (RMBS), up 8%... Freeport-McMoRan (FCX), up 11.3%... Sanmina (SANM), up 9.9%... Coach (COH), up 4.9%. ALSO HIGHER: Firstmerit (FMER), up 21.5% following the merger announcement with Huntington Bancshares (HBAN). DOWN AFTER EARNINGS: Polaris (PII), down 4.2%. ALSO LOWER: Huntington Bancshares, down 6.8% after announcing a merger with Firstmerit. Stratasys (SSYS), down 3.7% after being downgraded to Neutral from Overweight at JPMorgan.
06:32 EDTHBANFirstMerit volatility elevated into merging with Huntington Bancshares
FirstMerit (FMER) February call option implied volatility is at 41, March is at 37; compared to its 52-week range of 16 to 40; suggesting large near term price movement into Huntington Bancshares (HBAN) purchasing for 1.72 shares of Huntington common stock, and $5.00 in cash.
06:22 EDTHBANHuntington Bancshares volatility elevated into merge with FirstMerit
Huntington Bancshares (HBAN) February call option implied volatility is at 42, March is at 39; compared to its 52-week range of 17 to 41; suggesting large near term price movement into purchasing FirstMerit (FMER) for 1.72 shares of Huntington common stock, and $5.00 in cash.
06:17 EDTHBANHuntington Bancshares to host conference call
Conference call to discuss merger with FirstMerit Corporation will be held on January 26 at 9 am. Webcast Link
05:15 EDTINTCStocks with implied volatility below IV index mean; AXP INTC
Stocks with implied volatility below IV index mean; American Express (AXP) 28, Intel (INTC) 27 according to iVolatility.
05:15 EDTHBANHuntington Bancshares to merge with FirstMerit in deal valued at $3.4B
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05:11 EDTHBANHuntington Bancshares to merge with FirstMerit in deal valued at $3.4B
January 25, 2016
18:34 EDTHBANFirstMerit up 10% to $16.98 after DJ reports possible merger with Huntington Bancshares
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18:24 EDTHBANHuntington Bancshares in advanced talks to acquire Firstmerit, DJ says
Huntington Bancshares (HBAN) is in advanced talks to acquire FirstMerit (FMER), reports Dow Jones, citing sources. Huntington is expected to pay a premium to the company's $2.67B market cap, added the report.
10:00 EDTCNOOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 8x8, Inc. (EGHT) initiated with a Buy at Summit Research... ARI Network (ARIS) initiated with an Outperform at Barrington... Alcobra (ADHD) initiated with an Outperform at Oppenheimer... CNO Financial (CNO) initiated with a Hold at Deutsche Bank... Expedia (EXPE) initiated with an Outperform at Wells Fargo... Gartner (IT) initiated with an Overweight at Atlantic Equities... MAG Silver (MVG) initiated with a Buy at Roth Capital... Mitek Systems (MITK) initiated with an Outperform at Northland... Priceline (PCLN) initiated with a Market Perform at Wells Fargo... QTS Realty Trust (QTS) initiated with a Buy at SunTrust... Seres Therapeutics (MCRB) initiated with a Buy at H.C. Wainwright.
10:00 EDTYHOOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Express (AXP) upgraded to Perform from Underperform at Oppenheimer... BankMutual (BKMU) upgraded to Outperform from Market Perform at Hovde Group... Black Hills (BKH) upgraded on acquisition at BMO Capital... Bruker (BRKR) upgraded to Buy from Hold at Cantor... Cedar Fair (FUN) upgraded to Conviction Buy from Buy at Goldman... Charles Schwab (SCHW) upgraded to Buy from Neutral at Nomura... Corporate Office Properties (OFC) upgraded to Buy from Neutral at Mizuho... Entegris (ENTG) upgraded on valuation, outlook at Pacific Crest... First Financial upgraded to Outperform from Market Perform at Keefe Bruyette... Goldman Sachs (GS) upgraded to Buy from Neutral at Nomura... Graphic Packaging (GPK) upgraded to Outperform from Neutral at Macquarie... Home Depot (HD) upgraded to Buy from Hold at Deutsche Bank... Intel (INTC) upgraded to Outperform from Neutral at Macquarie... J.B. Hunt (JBHT) upgraded to Buy from Hold at BB&T... Magna (MGA) upgraded to Buy from Neutral at Citi... Masco (MAS) upgraded to Buy from Hold at Evercore ISI... Mattel (MAT) upgraded to Conviction Buy from Buy at Goldman... O'Reilly Automotive (ORLY) upgraded to Buy from Hold at Deutsche Bank... PACCAR (PCAR) upgraded to Buy from Neutral at Citi... People's United (PBCT) upgraded to Neutral from Underweight at Piper Jaffray... Quality Systems (QSII) upgraded to Overweight from Neutral at Piper Jaffray... RadiSys (RSYS) upgraded to Buy from Hold at Needham... Standard Motor (SMP) upgraded to Buy from Neutral at CL King... Swedbank (SWDBY) upgraded to Hold from Underperform at Jefferies... Toll Brothers (TOL) upgraded to Strong Buy from Outperform at Raymond James... Voyager Therapeutics (VYGR) upgraded to Neutral from Sell at Chardan... Yahoo (YHOO) upgraded to Buy from Hold at Pivotal Research.
09:32 EDTINTCApple Active equity options trading on open
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09:08 EDTAETCalifornia seen asking for few remedies in health insurance mergers, CTFN says
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08:23 EDTAETLeerink sees 'strong' buying opportunity in Managed Care space
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08:21 EDTYHOOYahoo upgraded to Buy from Hold at Pivotal Research
07:16 EDTINTCIntel upgraded to Outperform from Neutral at Macquarie
Macquarie analyst Deepon Nag upgraded Intel to Oupterform and raised his price target to $35 from $34 on shares. The analyst believes the combination of easier comps and moderating competition in tablets and smartphones should result in a PC shipment growth acceleration into CY16. Additionally, Nag said Intel has been undershipping end-demand for all of 2015, which adds to estimates and potential upside as the PC supply chain replenishes inventories.
06:56 EDTCNOCNO Financial initiated with a Hold at Deutsche Bank
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05:36 EDTINTCStocks with implied volatility below IV index mean; CELG INTC
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January 24, 2016
19:26 EDTYHOOYahoo using fast-vesting stock options to stop brain drain, BI says
Yahoo is allowing employees to cash out stock options at an accelerated pace in an attempt to stop brain drain and motivate workers, Business Insider reported Friday, citing sources. Starting in January 2015, the company began offering stock options that vest after one month rather than the previous one year period, and the fast-vesting options have become more widespread within the company as valuable employees threaten to leave, said the report. Reference Link
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