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News Breaks | | | | March 21, 2013 | | 12:09 EDT |  | ACAD, CSCO, ORCL, GES, SVU, BX, SCHL, HPQ, DELL | On The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as Europe's woes continue, though purchasing managers' indexes for the U.S. and China were strong. Amidst the backdrop of ongoing negotiations in Cyprus and a wealth of economic data from around the globe, the major averages slumped at the open and have been range-bound ever since... ECONOMIC EVENTS: In the U.S., jobless claims rose 2K from the prior week to 336K, a bit below the forecast for an increase to 340K. The FHFA home price index for January rose 0.6% from the prior month, versus expectations for a 0.7% advance. The leading economic indicators rose 0.5% for February, versus expectations for an increase of 0.4%. Existing home sales rose 0.8% in February, versus expectations for a 1.6% monthly increase. The Philly Fed manufacturing survey reading for March came in at +2.0, versus expectations for a -3.0 reading. Markit's preliminary U.S. purchasing managers' index for March came in at 54.9, nearly matching the 54.8 consensus forecast. In China, HSBC's preliminary PMI reading for March was 51.7, which compares to a 50.4 final reading for February. In Europe, Markit's flash composite PMI for services and manufacturing fell to 46.5 in March from 47.9 in February. Also, the European Central Bank said it will cut Cypriot banks off from emergency funds after this Monday, March 25, unless a bailout agreement is struck with the EU and IMF... COMPANY NEWS: Oracle (ORCL) shares fell 8% and were downgraded at CLSA and Evercore following the company's disappointing earnings report. Oracle may also risk losing its president Mark Hurd, according to a report from Fortune. The publication said Blackstone (BX) is seriously considering a bid for Dell (DELL) and one of the PE firm's top choices to run Dell, assuming it chooses to bid, would be Oracle's Hurd... Cisco (CSCO) was by far the Dow's worst performer, sinking over 3% following Oracle's report and after FBR Capital downgraded Cisco to an Underperform rating in a note to investors earlier today... Hewlett-Packard (HPQ) raised its regular dividend by 10% after shareholders failed in an attempt to remove the company's two longest-serving directors at its annual meeting, held last night... MAJOR MOVERS: Among the notable gainers was SuperValu (SVU), which rose more than 6% after it completed the sale of several of its chains to a private equity firm consortium in a deal valued at $3.3B, including $100M in cash and $3.2B in debt assumption. Also higher were shares of ACADIA Pharmaceuticals (ACAD), up 29% after presenting detailed results from a Phase III study of its treatment for Parkinson's disease psychosis. Among the noteworthy losers following their earnings reports were Scholastic (SCHL), which fell 14%, and Guess (GES), which declined nearly 5%... INDICES: Near noon, the Dow was down 35.83, or 0.25%, to 14,475.90; the Nasdaq was down 20.01, or 0.61%, to 3,234.18; and the S&P 500 was down 4.80, or 0.31%, to 1,553.91. | |
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News For ORCL;DELL;BX;CSCO;HPQ;SVU;ACAD;SCHL;GES From The Last 14 Days Check below for free stories on ORCL;DELL;BX;CSCO;HPQ;SVU;ACAD;SCHL;GES the last two weeks. |
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| June 18, 2013 | | 17:16 EDT |  | DELL | Dell special committee responds to Carl Icahn's latest proposal
 Subscribe for More Information | | | 16:20 EDT | | DELL | Southeastern says Icahn in best position to lead alternative Dell transaction
In a regulatory filing Southeastern Asset Management stated: "Southeastern Asset Management continues to believe that the Michael Dell / Silver Lake management buyout proposal undervalues the company and its prospects going forward. Southeastern and Icahn Associates have been working diligently to provide a better alternative for shareholders.Southeastern has determined that Icahn is in the best position to lead the development of an alternative transaction and to generate a better outcome for shareholders. Southeastern has therefore agreed to sell approximately 72,010,328 shares to Icahn, making Icahn the largest outside shareholder of Dell. Southeastern intends to vote its approximately 72,010,328 remaining shares of Dell stock against the $13.65 Michael Dell / Silver Lake management buyout proposal. Furthermore, Southeastern intends to vote its shares at Dell’s Annual Meeting in favor of the slate of highly qualified director candidates it and Icahn submitted to the Company. Icahn has Southeastern’s full support as it leads the proxy fight in the interest of all shareholders against the undervalued management buyout proposal. Southeastern will continue to participate in the proxy contest with Icahn to defeat the Michael Dell / Silver Lake management buyout proposal." | | | 16:06 EDT | | DELL | Icahn reports 8.68% stake in Dell
| | | 12:49 EDT | | DELL | Icahn proposes Dell engage in $14 per share tender offer
Subscribe for More Information | | | 12:32 EDT | | DELL | Icahn says bought 72M Dell shares from Southeastern
Subscribe for More Information | | | 12:28 EDT | | DELL | Icahn proposes Dell commence tender offer for 1.1B shares at $14
Subscribe for More Information | | | 12:27 EDT | | DELL | Icahn issues letter to Dell holders, proposes $14/share tender offer
Subscribe for More Information | | | 10:49 EDT |  | BX | Siemens seeks private equity offers for Nokia Siemens Networks, Reuters says
Subscribe for More Information | | | 09:30 EDT | | DELL | Dell tells holders $13.65/share offer 'superior to any alternative'
Subscribe for More Information | | | 09:20 EDT |  | HPQ | UBS IT hardware analyst holds an analyst/industry conference call
IT Hardware Analyst Milunovich and Hewlett Packard's COO Bill Veghte discuss HP's cloud computing strategy on an Analyst/Industry conference call to be held on June 20 at 11 am. | | | | 07:46 EDT | | HPQ | Hewlett-Packard awards $88M Medicaid contract extension
HP Enterprise Services announced the Bureau of TennCare, Tennessee's Medicaid program, has signed an $88M agreement for HP to continue as the state's facilities manager for another two years, helping enable the state's program transformation while maintaining program stability for members. Under the terms of the new agreement, which includes two one-year options, HP will help the state move its technology infrastructure to a more flexible and sustainable services-oriented architecture that will improve responsiveness to business changes. The agreement also includes a continuation of HP Applications Services to maintain the TennCare Management Information System, which enhances workflow while providing timely access to accurate and meaningful information. | | | 07:42 EDT | | DELL | O'Reilly Media to hold a conference
Subscribe for More Information | | | 07:29 EDT | | CSCO | Securities Industry and Financial Markets Association to host a conference
Subscribe for More Information | | | 07:19 EDT | | HPQ | Eyefortransport to hold a summit
Subscribe for More Information | | | 06:17 EDT | | CSCO, HPQ | Taiwan tablet sales to reach 2M units in 2013, DigiTimes reports
Tablet demand in the Taiwan market is set to reach 2M units in 2013, reports DigiTimes, according to a Far EasTone Telecommunications Officer. Maxwell Cheng said the forecast for tablet sales volume in 2013 is set to double the level in 2012, with the 7-inch models estimated to account for 70%-80% of solid tablets. Reference Link | | | June 17, 2013 | | 19:07 EDT | | ORCL | Oracle secures judgment against ServiceKey
Subscribe for More Information | | | 15:29 EDT | | HPQ | Google's Chromebook to be available in Wal-Mart, Staples
In addition to Best Buy (BBY) and Amazon.com (AMZN), Google (GOOG) announced that, starting today, Walmart (WMT) will be making the newest Acer Chromebook available in approximately 2,800 stores across the U.S. for $199. Beginning this weekend, Staples (SPLS) will bring a mix of Chromebooks from Acer, HP (HPQ) and Samsung (SSNLF) to each of its stores in the U.S., or more than 1,500 in total. Reference Link | | | 11:15 EDT |  | ORCL | Oracle June volatility up into Q4 and outlook for cash return to shareholders
Subscribe for More Information | | | 10:23 EDT |  | CSCO | Cisco moves higher, levels to watch
Subscribe for More Information | | | 09:01 EDT | | CSCO | Cisco has a conference call hosted by Deutsche Bank
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