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Stock Market & Financial Investment News

News Breaks
March 21, 2013
12:09 EDTORCL, DELL, BX, CSCO, HPQ, SVU, ACAD, SCHL, GESOn 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.
News For ORCL;DELL;BX;CSCO;HPQ;SVU;ACAD;SCHL;GES From The Last 14 Days
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August 15, 2014
08:11 EDTORCLOracle checks showing signs of improvement, says FBR Capital
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05:18 EDTSVUSuperValu says computer network experienced criminal intrusion
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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.
16:30 EDTCSCOOn The Fly: Closing Wrap
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15:24 EDTHPQHewlett-Packard volatility increases into Q3 and outlook
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14:13 EDTSVUOmega Advisors gives quarterly update on stakes
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12:31 EDTCSCOCisco shares trade lower as company announces 6,000 job cuts
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12:30 EDTCSCOOn The Fly: Midday Wrap
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10:05 EDTGESOn The Fly: Analyst Initiation Summary
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09:36 EDTCSCOActive equity options trading on open
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08:38 EDTBXShell to sell Haynesville Assets to Blackstone, Vine Oil & Gas for $1.2B
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08:37 EDTBXShell to sell Haynesville Assets to Blackstone, Vine Oil & Gas for $1.2B
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07:47 EDTCSCOCisco price target raised to $33 from $30 at Cowen
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07:34 EDTCSCOCisco price target raised to $29 from $26.50 at UBS
UBS raised its price target on Cisco to $29 from $26.50 following its Q4 results. The firm sees continued momentum in several markets and products and strong cash flow and keeps its Buy rating on Cisco shares.
06:23 EDTCSCOCisco multiple prices in growth potential, says Citigroup
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06:09 EDTHPQGoogle, HP in talks to collaborate on 'virtual assistant,' The Information says
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06:07 EDTGESGuess initiated with a Buy at Wunderlich
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05:56 EDTCSCOCisco earnings outlook could prove conservative, says Wells Fargo
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05:52 EDTCSCOOpco sees Cicso results as favorable for supply chain
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05:39 EDTCSCOCisco shares have little downside risk, says Piper Jaffray
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