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Stock Market & Financial Investment News

News Breaks
February 20, 2013
12:35 EDTTSS, OMX, MM, NTSP, ODP, HNR, CATOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday following the release of several domestic economic reports and ahead of the minutes from the last FOMC meeting. The averages drifted quietly with little direction in the early part of the session, but weakened following rumors that a sizable commodity hedge fund was in trouble and was forced to liquidate. Details of that rumored collapse were scarce, though crude prices were down over 2% in midday trading... ECONOMIC EVENTS: In the U.S., Commerce Department figures showed total housing starts dropped 8.5% to a 890K rate in January, which was less than forecast. However, building permits were up 1.8% in the month, versus expectations for an increase of 1.2%. Producer prices in January rose 0.2%, versus expectations for an increase of 0.3%. The core producer price inflation figure, which excludes volatile food and energy components, rose 0.2%, which was in line with expectations. Also, the Federal Reserve is scheduled to release the minutes from its Jan. 29-30 meeting at 2pm ET... COMPANY NEWS: Shares of Office Depot (ODP) and OfficeMax (OMX) both declined after confirming their previously rumored plan to merge, but the announcement took a strange turn. Office Depot inadvertently announced the deal early as part of its earnings report, though both companies confirmed the merger in press releases later in the morning. Following the confirmation of the all-stock deal, Office Depot fell 14%, while OfficeMax slid nearly 4%... Dow member Caterpillar (CAT) declined almost 2% after disclosing that global retail machine sales dropped 4% in the three months through January, continuing a trend of declining sales that began in the prior month... MAJOR MOVERS: Among the notable gainers was NetSpend (NTSP), which rose over 28% to $15.79 after agreeing to be acquired by Total Systems (TSS) for $16 per share. Shares of buyer Total Systems slipped more than 6%. Also lower were shares Harvest Natural Resources (HNR), down over 38% after its agreement to sell interests in Venezuela was terminated, and Millennial Media (MM), which fell 36% after its quarterly report and a downgrade of the stock at Morgan Stanley... INDICES: Near midday, the Dow was down 18.97, or 0.14%, to 14,016.70; the Nasdaq was down 17.42, or 0.54%, to 3,196.17; and the S&P 500 was down 6.17, or 0.40%, to 1,524.77.
News For ODP;OMX;CAT;NTSP;TSS;HNR;MM From The Last 14 Days
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April 23, 2015
11:43 EDTCATCaterpillar says 2015 shaping up to be an 'uncertain and challenging year'
Says expects weakness in developing countries in 2015. Says from macro standpoint, "not much has changed." Says sales outside U.S. were down during Q1. Says currency exposure reasonably hedged. Says stock repurchases will be dependent on market conditions. Says dealer inventory in a "reasonable range," and expects it to decline as the year progresses. Says still focused on market share, but competition for deals has increased substantially due to stronger dollar. Comments from company's Q1 earnings conference call.
09:18 EDTCATOn The Fly: Pre-market Movers
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07:43 EDTCATCaterpillar reports Cat Financial Q1 revenue $689M vs. $7.11M last year
Reports Cat Financial Q1 profit before income taxes $187M vs. $182M last year. Reports Cat Financial retail new business volume $2.47B vs. $2.8B last year.
07:42 EDTCATCaterpillar continue to face headwinds and uncertainty in 2015
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07:42 EDTCATCaterpillar raises FY15 EPS $5.00 from $4.75, consensus $4.67
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07:40 EDTCATCaterpillar expect to continue to repurchase stock this year
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07:39 EDTCATCaterpillar reports Q1 EPS excluding costs $1.86, consensus $1.35
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April 22, 2015
15:50 EDTCATNotable companies reporting before tomorrow's open
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15:30 EDTCATCaterpillar technical comments ahead of earnings
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13:50 EDTCATCaterpillar volatility elevated into Q1 and outlook
Caterpillar April weekly call option implied volatility is at 66, May is at 23, June and August is at 19; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q1 on April 23.
13:33 EDTCATEarnings Watch: Caterpillar sales appear negative for earnings, Wells Fargo says
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10:47 EDTCATCaterpillar sales report, checks appear negative for earnings, says Wells Fargo
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10:42 EDTCATCaterpillar reports retail machines sales down 12% in three months end March
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April 15, 2015
09:08 EDTHNROn The Fly: Pre-market Movers
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April 14, 2015
18:30 EDTHNROn The Fly: After Hours Movers
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17:24 EDTHNRHarvest Natural down over 7% after updating PDVSA talks
17:19 EDTHNRHarvest Natural says PDVSA talks have not yet resulted in acceptable offer
In a regulatory filing, Harvest Natural disclosed that it previously announced that the company had begun discussions with PDVSA toward reaching an agreement for an amicable exit from Petrodelta but that there could be no assurance that these discussions would be successful. The company added, "To date, these intermittent discussions have not led to any offer or terms that would be remotely fair and equitable to Harvestís shareholders, and PDVSA has been so advised. Again, as previously disclosed, if these discussions do not lead to a fair and equitable solution for our shareholders, Harvest expects to move forward on the arbitration path as previously announced, to the extent that it is legally permissible and that it continues to be in the best interests of our shareholders."
13:39 EDTHNRPDVSA seeks to buy Venezuela JV oil assets from Harvest Natural, Reuters reports
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09:02 EDTTSSProPay adds MasterCard MasterPass checkout service
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April 13, 2015
11:28 EDTODPStarboard CEO says Staples, Office Depot merger 'likely to go through'
Says confident the potential merger will pass anti-trust scrutiny. Jeff Smith is speaking on CNBC.
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