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Stock Market & Financial Investment News

News Breaks
February 20, 2013
09:25 EDTGRMN, CHTP, GDOT, SPLS, SODA, MM, BA, TSS, ODP, XRAY, DMD, SINA, NTSP, OMXOn The Fly: Pre-market Movers
UP AFTER M&A NEWS: Netspend (NTSP), up 29.9% after agreeing to be acquired by Total System (TSS) for $16 per share. Peer GreenDot (GDOT) up 4.6% in sympathy... OfficeMax (OMX), up 7.2%, Office Depot up 6.2%, after earnings report appeared to confirm a merger deal, though the New York Times' DealBook said the announcement was made prematurely. Staples (SPLS) up 0.7% following leaked announcement, upgrade to Neutral at Citigroup... ALSO HIGHER: Boeing (BA), up 1.3% after Reuters says company may have found Dreamliner battery fix... Chelsea Therapeutics (CHTP), up 75% after receiving FDA guidance for Northera NDA resubmission... Demand Media (DMD) up 16.1% after results, company says will explore splitting... DOWN AFTER EARNINGS: Garmin (GRMN), down 9.5%... Dentsply (XRAY), down 6.7%... Sodastream (SODA), down 4%... ALSO LOWER: Harvest Natural (HNR), down 37.1% after terminating agreement to sell interests in Venezuela, downgrade at Global Hunter... Millennial Media (MM), down 28.8% after results, deal to acquire Metaresolver, downgrade at Morgan Stanley.
News For OMX;ODP;SPLS;NTSP;TSS;GDOT;SINA;BA;CHTP;DMD;MM;GRMN;XRAY;SODA From The Last 14 Days
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January 20, 2015
10:47 EDTSPLS, ODPStaples says will consider 'all actions' that would create shareholder value
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10:23 EDTODP, SPLSStarboard says Staples should explore merger with Office Depot
Starboard Value, one of the largest shareholders of Staples (SPLS), confirmed, as previously reported, that it has delivered a letter to Ronald Sargent, Chairman and CEO of Staples, and the board of directors of Staples. In the letter, Starboard states in part: "As we discussed in our recent meeting, we believe that the best way to maximize value for Staples' shareholders is through exploring and completing a business combination with Office Depot (ODP). For a variety of reasons, we believe that now is the right time to pursue such a transaction, and we urge you to immediately retain a reputable investment bank and legal advisors to assist the Board in evaluating, structuring and executing a transaction with Office Depot. We believe that a strategic combination of Staples and Office Depot would result in synergies that would more than double the operating profits of the combined company and would create an industry-leading office supply retailer that could more effectively compete against larger retailers and online competitors. The magnitude of value creation from such a business combination far exceeds anything that either company could achieve on a standalone basis. We believe that the evidence is clear that shareholders are broadly supportive of a transaction between Staples and Office Depot. As shown in the chart below, since the merger speculation began last September, Staples' share price has risen over 50%, strongly outperforming the S&P 500...After the recent increase in Staples' share price, we believe the stock now trades at a substantial premium to the intrinsic value of the standalone company. This results in a lower cost of capital for Staples and a stronger currency which could be used to acquire Office Depot. If Staples fails to fully explore and consummate a transaction with Office Depot, shareholders will undoubtedly be extremely disappointed...We understand that this will require cooperation from Office Depot, and we have already expressed to them our strong support for a transaction...Our sincere hope is that we can continue to have a constructive dialogue. However, if it becomes clear to us that you have no intention of seriously pursuing this unique and highly attractive opportunity, it would be a clear sign that significant leadership change is needed at Staples."
09:31 EDTODP, SPLSActivist Starboard urging Staples, Office Depot to merge, WSJ reports
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08:59 EDTSPLS, ODPStarboard urged Staples to explore Office Depot merger, Bloomberg says
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08:21 EDTBAGlobal Eagle to offer connectivity in Boeing 737 airplanes
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January 16, 2015
11:02 EDTSINABofA/Merrill APAC equity derivatives analyst analyst/industry conference call
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January 15, 2015
13:49 EDTBANorthrop Grumman beats out Boeing for missile contract, Reuters reports
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12:05 EDTBABoeing reports orders for 336 more military rescue radios
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10:30 EDTSPLSStaples announces board changes, CEO turns down raise to base salary
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10:00 EDTGDOTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Campus (ACC) downgraded to Sell from Neutral at Goldman... Apple (AAPL) downgraded to Neutral from Buy at Mizuho... Archer Daniels (ADM) downgraded to Neutral from Buy at Goldman... Barrick Gold (ABX) downgraded to Underweight from Equal Weight at Barclays... CNOOC (CEO) downgraded to Underperform from Hold at Jefferies... CSC (CSC) downgraded to Underweight from Neutral at JPMorgan... Computer Programs (CPSI) downgraded to Market Perform from Outperform at William Blair... D.R. Horton (DHI) downgraded to Neutral from Buy at UBS... DDR Corp. (DDR) downgraded to Neutral from Overweight at JPMorgan... Dominion Diamond (DDC) downgraded to Equal Weight from Overweight at Barclays... EVERTEC (EVTC) downgraded to Neutral from Overweight at JPMorgan... Education Realty (EDR) downgraded to Sell from Neutral at Goldman... Franco-Nevada (FNV) downgraded to Underweight from Equal Weight at Barclays... General Cable (BGC) downgraded to Neutral from Buy at Longbow... Green Dot (GDOT) downgraded to Neutral from Overweight at JPMorgan... Greif (GEF) downgraded to Neutral from Buy at BofA/Merrill... Grupo Simec (SIM) downgraded to Neutral from Buy at Goldman... Hecla Mining (HL) downgraded to Hold from Buy at BB&T... Host Hotels (HST) downgraded to Hold from Buy at MLV & Co.... Ingredion (INGR) downgraded to Sell from Neutral at Goldman... Insulet (PODD) downgraded to Market Perform from Outperform at Raymond James... Johnson & Johnson (JNJ) downgraded to Sell from Neutral at Goldman... Magna (MGA) downgraded to Hold from Buy at TD Securities... Molson Coors (TAP) downgraded to Neutral from Buy at Goldman... Nuverra Environmental (NES) downgraded at Roth Capital... Omnicom (OMC) downgraded to Hold from Buy at Evercore ISI... PetroChina (PTR) downgraded to Underperform from Hold at Jefferies... Philip Morris (PM) downgraded to Sell from Neutral at Goldman... Precision Castparts (PCP) downgraded to Hold from Buy at KeyBanc... Rio Tinto (RIO) downgraded to Neutral from Outperform at Macquarie... STAG Industrial (STAG) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Equal Weight from Overweight at Barclays... Sinopec (SNP) downgraded to Underperform from Hold at Jefferies... Sky (SKYAY) downgraded to Neutral from Outperform at Exane BNP Paribas... Teledyne (TDY) downgraded to Underweight from Hold at KeyBanc... Woodward (WWD) downgraded to Underweight from Hold at KeyBanc... Xilinx (XLNX) downgraded to Equal Weight from Overweight at Barclays.
09:07 EDTBAAstro-Med reaches deal with Donghai for flight deck printers
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07:24 EDTGDOTGreen Dot downgraded to Neutral from Overweight at JPMorgan
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07:19 EDTBABoeing and Air Europa announce order for 14 787-9 Dreamliners
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January 14, 2015
10:00 EDTGRMNOn The Fly: Analyst Upgrade Summary
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08:10 EDTGRMNGarmin acquires assets of iKubu, terms not disclosed
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06:39 EDTGRMNGarmin upgraded to Sector Perform from Underperform at Pacific Crest
Pacific Crest upgraded Garmin to Sector Perform citing a more reasonable valuation following the recent pullback. The firm sees fair value around $50 per share.
January 13, 2015
16:09 EDTBABoeing says Campbell to lead 737 program, Zaback to head 767 program
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07:40 EDTBACommercial aircraft demand outlook still positive, says Bernstein
Bernstein continues to have a positive outlook on commercial aircraft demand for 2015, as the firm does not see $50 Brent oil as a negative for the sector unless the price stays below that level for the long-term. Bernstein thinks the general demand outlook for the sector is positive, and it identifies Boeing (BA) and United Technologies (UTX) as two of its favorite names in the space.
06:50 EDTBABoeing, Airbus could be hurt by oil tumble, NY Times says
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05:29 EDTBABoeing records $232.7B in commercial net in orders in 2014
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