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Stock Market & Financial Investment News

News Breaks
January 6, 2014
08:39 EDTP, BP, F, YUMPandora launches advertising on automotive platforms
Pandora (P) announced it will begin rolling out in-car advertising solutions this month. Major national brands including BP (BP), Ford (F), State Farm and Taco Bell (YUM) are on board to take advantage of the first-to-market opportunity. Pandora, which today reported more than 76.2 million active monthly listeners and more than 1.58 billion listening hours across all platforms in December, is currently available on nine out of the 10 best-selling passenger vehicles.
News For P;BP;F;YUM From The Last 14 Days
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September 4, 2014
14:16 EDTBPBP falls after found 'grossly negligent' for Gulf oil spill, bearish pattern
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12:34 EDTBPOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory after the ECB lowered its benchmark interest rate and took additional measures in an attempt to stimulate the region’s economy. The averages had some early momentum, but found a level about an hour into trading around which they have since traded in a narrow range. ECONOMIC EVENTS: In the U.S., payroll provider ADP estimated private sector employment increased by 204K jobs in August, which was below the consensus forecast for 215K private sector jobs to have been added. Initial jobless claims rose 4K to 302K in the week ended August 30, which was close to the 300K estimate. The trade deficit narrowed slightly to $40.5B in July, beating expectations for a deficit of $42.5B. Second quarter nonfarm productivity growth was revised lower to 2.3% versus the 2.5% pace reported initially. Unit labor costs were revised down to a decrease of 0.1% from a rise of 0.6% estimated previously. Markit's services PMI for August came in at 59.5, versus a consensus forecast of 58.5. ISM's non-manufacturing PMI for August had a reading of 59.6, easily topping the 57.7 consensus estimate. In Europe, the European Central Bank unexpectedly cut the rate at which it issues short-term loans to banks to 0.05% from 0.15% and lowered its growth forecasts for 2014 and 2015. The ECB also announced plans to buy asset-backed securities, which the central bank's president Mario Draghi said will have a “sizable” impact on its balance sheet without providing further details on the size of the planned purchases. COMPANY NEWS: Shares of oil major BP (BP) trading in New York fell about 6% after a federal judge ruled that the company acted with "gross negligence" in causing the Gulf of Mexico spill in 2010 that was the biggest offshore oil spill in U.S. history. U.S. District Judge Carl Barbier, who held a trial without a jury over who was at fault, also found Transocean (RIG) and Halliburton (HAL) "negligent," but rested much more of the blame on BP, with 67% of the liability assigned to BP, 30% to Transocean and 3% to Halliburton. Afterward, BP said it "strongly disagrees" with the decision and will immediately appeal. MAJOR MOVERS: Among the notable gainers following their earnings reports were Mattress Firm (MFRM), which rose 12%, and Methode Electronics (MEI), which gained 16%. Also higher was Bolt Technology (BOLT), which surged 36% after the company agreed to be acquired by Teledyne Technologies (TDY) for $22.00 per share in cash. Shares of Teledyne advanced nearly 2% following last night's deal announcement. Among the noteworthy losers was Matrix Service (MTRX), which dropped 21% after its earnings for the just completed quarter and its profit forecast for its new fiscal year fell short of analysts' expectations. Also lower following their earnings reports were Ciena (CIEN), which fell over 7%, and Shoe Carnival (SCVL), which dropped more than 10%. INDEXES: Near midday, the Dow was up 43.83, or 0.26%, to 17,122.11, the Nasdaq was up 15.15, or 0.33%, to 4,587.71, and the S&P 500 was up 5.23, or 0.26%, to 2,005.95.
12:13 EDTBPBP puts active after Gulf of Mexico decision
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12:11 EDTBPCourt rules Halliburton 'negligent' in Macondo incident conduct
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11:51 EDTBPBP reiterated as a Buy at Jefferies
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11:28 EDTBPBP says 'strongly disagrees' with gross negligence ruling, will appeal
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11:20 EDTBPStocks with increasing options volume
Stocks with increasing options volume: BP VMW SCTY X GE MBLY VALE DDD
11:19 EDTYUMYum! shares pull back as company cuts Q3 China SSS view
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11:09 EDTBPBP falls after found 'grossly negligent' in spill ruling
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11:05 EDTBPOptions with increasing implied volatility
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10:44 EDTBPBP found grossly negligent in Macondo spill, fines may rise, Bloomberg reports
U.S. District Judge Carl Barbier has found BP (BP) "grossly negligent" in its handling of the 2010 Gulf of Mexico oil spill, which killed 11 people and spewed oil for nearly three months, Bloomberg reports. Transocean (RIG) and Halliburton (HAL) were also involved in the case, but the federal judge did not find them as responsible as BP for the spill. BP could face fines of up to $18B for the spill. Reference Link
10:44 EDTBPHigh option volume stocks
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10:27 EDTBPBP continues lower after company found grossly negligent by judge
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10:18 EDTBPBP down 2% after company reportedly found grossly negligent
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10:17 EDTBPBP found grossly negligent in Macondo spill, fines may rise, Bloomberg reports
09:06 EDTYUMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: PVH Corp. (PVH), up 9%... Verifone (PAY), up 3.8%... Methode Electronics (MEI), up 13%... Bazaarvoice (BV), up 9%. ALSO HIGHER: Bolt Technology (BOLT), up 35.7% after Teledyne (TDY) agrees to acquire the company for $22 per share in cash... Mitek Systems (MITK), up 58% after USAA lawsuit settlement... Tibco Software (TIBX), up 7% after announcing that it is reviewing strategic alternatives... Stereotaxis (STXS), up 22% after receiving FDA clearance for Vdrive with V-Loop system... NewLink (NLNK), up 3.4% after reporting FDA approval for Phase 1 clinical studies of Ebola vaccine. DOWN AFTER EARNINGS: Ciena (CIEN), down 3%... Joy Global (JOY), down 1%... Matrix Service (MTRX), down 11%... Mobileye (MBLY), down 1.3%. ALSO LOWER: Yum! Brands (YUM), down 2.8% after updating third quarter China division same-store sales guidance... 3D Systems (DDD), down 2.9% after downgraded at Pacific Crest... GoPro (GPRO), down 3.5% after downgraded at JPMorgan... Shanda Games (GAME), down 4% after announcing reconstitution of special committee.
08:59 EDTYUMYum! Brands risk/reward favorable at prospective levels, says RW Baird
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08:07 EDTYUMYum! Brands volatility expected to move on Q3 China division sales guidance
Yum! Brands volatility is expected to move after updating Q3 China division sales guidance. Overall option implied volatility of 18 is below its 26-week average of 23 according to Track Data, suggesting decreasing price movement.
08:01 EDTYUMYum! Brands consensus estimates still need to come down, says Morgan Stanley
Morgan Stanley said Yum! Brands pre-released China Q3 same-store-sale estimate of (13%) was well below consensus of +80bps. The firm said the news should not be a surprise given recent supplier issues but consensus estimates still remain too high and will need to come down. The analyst remains below consensus and sees no specific catalysts insight. Shares are Equal Weight rated.
07:56 EDTYUMYum! Brands price target lowered to $85 from $90 at UBS
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