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Stock Market & Financial Investment News

News Breaks
March 18, 2014
19:03 EDTORCL, ADBE, COCO, EXAS, PSUN, CWH, NUS, HLFOn The Fly: After Hours Movers
NOTABLE: Oracle (ORCL), down 3.6% after reporting third earnings and revenue that missed expectations, though the company's fourth quarter profit outlook was in-line with expectations... Adobe Systems (ADBE) shares were little-changed after hours after the company's first quarter results were posted on a company website before the market close, initially sending shares higher. Adobe confirmed the results after the close and beat on both the top and bottom lines, and on its conference call, the company said second quarter profit will be in-line with expectations while revenue is expected top estimates. HIGHER: Corinthian Colleges (COCO), up 14.2% after Shah Capital, which holds a 5.64% stake in the company, sent a letter to its board outlining strategic initiatives the company should undertake, including evaluating possible sale of non-core assets and a headcount reduction... Exact Sciences (EXAS), up 8% after a clinical trial of its Cologuard test, which it co-developed with the Mayo Clinic, showed unprecedented rates of precancer and cancer detection by a noninvasive test... Pacific Sunwear (PSUN), up 9.7% after reporting earnings and revenue that were better than expected... CommonWealth REIT (CWH), up 4.8% after activist funds Corvex and Related said 81% of CommonWealth holders approve of their proposal to remove the entire board of the company. LOWER: Nu Skin (NUS), down 4.8% after disclosing in a filing with the SEC that it has received inquiries from regulators in China, which it said may result in sanctions against the company. Shares of multi-level-marketing peer Herbalife (HLF) were down 0.4% following the disclosure.
News For ORCL;ADBE;COCO;EXAS;PSUN;CWH;NUS;HLF From The Last 14 Days
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August 18, 2014
08:05 EDTEXASExact Sciences risk/reward positive, says Canaccord
Canaccord said the scenario analysis of upcoming catalysts suggests positive risk/reward for the shares of Exact Sciences. The firm cited its potential for reimbursement approvals form both the CMS and commercial payers. Shares of Exact Sciences remain Buy rated with a $21 price target.
August 15, 2014
08:11 EDTORCLOracle checks showing signs of improvement, says FBR Capital
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August 14, 2014
18:28 EDTORCLCourt finds Rimini Street infringed Oracle copyrights, stole IP
On August 14, the U.S. District Court in Las Vegas entered an order granting Oracle's motion for partial summary judgment in its case against Rimini Street, and its CEO, Seth Ravin. Oracle moved for summary judgment on Rimini's counterclaims for defamation and unfair competition. In those counterclaims, Rimini challenged Oracle's public statements that Rimini had engaged in massive theft of Oracle's intellectual property. The Court dismissed those counterclaims finding that Oracle's statements "that Rimini had engaged in 'massive theft' of Oracle's intellectual property are true." The Court explained that "It is undisputed that Rimini engaged in theft of Oracle's intellectual property." The Court also found that Rimini Street infringed Oracle's copyrights. In February, the Court found that Rimini Street infringed Oracle's PeopleSoft copyrights and that Oracle had proved prima facie copyright infringement as to its JD Edwards and Siebel copyrights. The Court ruled that Rimini Street also infringed Oracle Database copyrights. The Court found that Rimini Street had downloaded 25 copies of Oracle's Database software and possessed over 200 copies of this software even though Rimini's downloading, possession, and use of this software all was unlicensed. The Court ordered the parties to submit a pre-trial order within sixty days.
August 13, 2014
16:03 EDTORCLOracle extends tender offer for MICROS to September 2
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14:04 EDTHLFAckman will continue Herbalife short position as needed, Bloomberg reports
Bill Ackman's hedge-fund Pershing Square said most of the Herbalife contracts it holds will expire next year and that it will extend their terms by "paying additional premiums if it is necessary to do so," according to Bloomberg, citing Ackman's quarterly letter to investors. In the letter, Ackman said that the cost of holding a short position in options of Herbalife has dropped "substantially" after the company canceled its dividend, the report noted. Reference Link
11:21 EDTHLFAckman says Herbalife may be unable to refinance 2016 credit, Bloomberg reports
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08:50 EDTEXASExact Sciences CMS approval expected by early September, says Canaccord
Canaccord met with Exact Sciences management and came away confident in the CMS' preliminary reimbursement amount, which the firm expects by early September. Canaccord also noted checks into the company's call center indicated strong interest in Cologuard and it expects targeted digital advertising to raise awareness of its product. The firm raised its price target on the stock to $21 from $20 and keeps its Buy rating on the shares.
06:39 EDTNUSNu Skin volatility flat as shares near15-month low
Nu Skin August call option implied volatility is at 45, September and December is at 44; compared to its 26-week average of 47 according to Track Data, suggesting decreasing price movement.
August 12, 2014
09:35 EDTEXASActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GOOG C TSL EXAS BAC DNDN JNJ TSLA
09:21 EDTEXASOn The Fly: Pre-market Movers
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07:24 EDTEXASExact Sciences FDA approval priced into shares, says Maxim
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07:14 EDTEXASExact Sciences announces FDA approved Cologuard
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August 11, 2014
16:24 EDTEXASFDA announces approval of Exact Sciences colorectal screening test
The FDA said it approved Cologuard, the first stool-based colorectal screening test that detects the presence of red blood cells and DNA mutations that may indicate the presence of certain kinds of abnormal growths that may be cancers such as colon cancer or precursors to cancer. The FDA added that the Centers for Medicare & Medicaid Services proposes to cover the Cologuard test once every three years for Medicare beneficiaries who meet certain criteria. Cologuard is manufactured by Exact Sciences. Reference Link
August 10, 2014
16:51 EDTADBECourt rejects $324M settlement in tech hiring conspiracy, NYT says
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August 9, 2014
16:26 EDTORCLOracle sues Oregon over dispute with state's health-insurance exchange, WSJ says
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August 8, 2014
16:46 EDTHLFCapital Research reports 10.1% passive stake in Herbalife
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16:16 EDTADBEU.S. judge rejects Apple, Google antitrust hiring accord, Bloomberg reports
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August 7, 2014
10:00 EDTNUSOn The Fly: Analyst Downgrade Summary
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06:08 EDTNUSNu Skin orice target lowered to $70 from $110 at Deutsche Bank
Deutsche Bank lowered its price target for Nu Skin shares to $70 saying the regulatory overhang "continue to wreak havoc on the company’s important China business." The firm, however, says comparisons ease next year and that inventory can be worked down or written off. Deutsche keeps a Buy rating on Nu Skin following yesterday's Q2 results. Note the stock was downgraded this morning at JPMorgan to Neutral.
05:48 EDTNUSNu Skin downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded Nu Skin to Neutral saying the underlying business is weaker than it expected with little visibility following the company's Q2 results. The firm cut its price target for shares in half to $50 from $100. Nu Skin closed yesterday down $11.40 to $46.52 after reporting Q2 results.
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