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Stock Market & Financial Investment News

News Breaks
February 20, 2013
16:52 EDTTSS, CAT, ODP, NTSP, TRI, HNR, CHTP, OMXOn The Fly: Closing Wrap
Stocks on Wall Street were lower as each of the major averages dropped after the minutes from the last FOMC meeting indicated several Fed members are ready to vary the pace of bond buying... ECONOMIC EVENTS: In the U.S., 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. The minutes from the FOMC's Jan 29-30 meeting, released at 2 pm ET, said that several Fed members are concerned about the costs and risks of additional asset purchases. Several members of the committee said the Fed should be prepared to vary the pace of asset purchases, as the committee members continued to see moderate economic growth and gradually declining unemployment... COMPANY NEWS: The Office Depot (ODP) and OfficeMax (OMX) merger, reported over the long holiday weekend by the Wall Street Journal, was formally announced by the companies. However, the confirmation was inadvertently released on Office Depot's website ahead of the joint announcement, an error for which Thomson Reuters (TRI) later took responsibility. Shares of both companies, which had run-up after the WSJ story, declined following the confirmation, with Office Depot losing 84c, or 16.73%, to $4.18 and OfficeMax falling $91c, or 7%, to $12.09... Dow member Caterpillar (CAT) dropped $2.38, or 2.49%, to $93.22 after disclosing that global retail machine sales were down 4% in the three month rolling period ending January 31... MAJOR MOVERS: Among the notable gainers were shares of Chelsea Therapeutics (CHTP), up $1.14, or 149.51%, to $1.91 after the company received FDA guidance for a Northera new drug application resubmission and the stock was upgraded to Buy at Ladenburg. Also higher was NetSpend (NTSP), up $3.52, or 28.64%, to $15.81 after agreeing to be acquired by Total Systems (TSS) for $16 per share. Shares of buyer Total Systems lost $1.51, or 6.43%, to $21.97 following the acquisition. Also lower were shares of Harvest Natural Resources (HNR), down $3.71, or 40.5%, to $5.45 after its agreement to sell interests in Venezuela was terminated since the government of Indonesia voted against the transaction... INDICES: The Dow was down 108.13, or 0.77%, to 13,927.54; the Nasdaq was down 49.18, or 1.53%, to 3,164.41; and the S&P 500 was down 18.99, or 1.24%, to 1,511.95.
News For ODP;OMX;TRI;CAT;CHTP;NTSP;TSS;HNR From The Last 14 Days
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April 23, 2015
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 16, 2015
10:00 EDTTRIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AGCO (AGCO) downgraded to Underweight from Neutral at JPMorgan... Alcatel-Lucent (ALU) downgraded to Buy from Conviction Buy at Goldman... Anglo American (AAUKY) downgraded to Sell from Neutral at Goldman... BAE Systems (BAESY) downgraded to Neutral from Buy at UBS... BHP Billiton (BHP) downgraded to Neutral from Conviction Buy at Goldman... Black Diamond (BDE) downgraded on valuation at Stifel... Boston Private Financial (BPFH) downgraded to Hold from Buy at Sandler O'Neill... Columbus McKinnon (CMCO) downgraded to Neutral from Buy at CL King... CoreSite Realty (COR) downgraded to Hold from Buy at Evercore ISI... Meggitt (MEGGF) downgraded to Sell from Neutral at UBS... Methanex (MEOH) downgraded to Sector Perform from Outperform at Scotia Capital... Nokia (NOK) downgraded to Neutral from Buy at Citigroup... SanDisk (SNDK) downgraded to Sell from Neutral at BTIG... Thomson Reuters (TRI) downgraded to Sector Perform from Outperform at RBC Capital... Turquoise Hill (TRQ) downgraded to Hold from Speculative Buy at TD Securities... Washington Federal (WAFD) downgraded to Neutral from Buy at DA Davidson.
07:12 EDTTRIThomson Reuters downgraded to Sector Perform from Outperform at RBC Capital
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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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