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Stock Market & Financial Investment News

News Breaks
December 24, 2012
06:08 EDTPC, AMZN, GM, PEUGY, GRPN, ZNGA, FB, SHCAY, SNE, GOOGOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Japan's struggling consumer-electronics companies (PC, SNE, SHCAY) are putting aside years of resistance to get serious about shedding nonessential assets and streamlining their operations. But this may be hindered by what they are willing to sell and what potential buyers want, the Wall Street Journal reports...Now that Facebook (FB), Zynga (ZNGA) and Groupon (GRPN) have fizzled in their first year on the stock market, the hype over social, local and mobile has subsided. For many of the still-private Web startups that rode the wave up, that now means grappling with the downside of the cycle, the Wall Street Journal reports...REUTERS: PSA Peugeot Citroen (PEUGY) has ruled out a merger with General Motors' (GM) Opel division as part of their alliance, Autogazette reported, citing a Peugeot manager, Reuters reports...The rivalry between Amazon.com (AMZN) and Google (GOOG) will escalate in 2013 as their areas of rivalry grow, from online advertising and retail to mobile gadgets and cloud computing, Reuters reports...BLOOMBERG: Americans investors have missed out on nearly $200B of stock gains as they drained money from the market in the past four years, a result of the financial crisis, Bloomberg reports...Investors reduced bullish commodity bets to the lowest in almost six months as U.S. budget talks stalled, increasing concern that lawmakers’ failure to reach an agreement with push the U.S. economy back into a recession, Bloomberg reports.
News For PC;SNE;SHCAY;FB;ZNGA;GRPN;PEUGY;GM;AMZN;GOOG From The Last 14 Days
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July 17, 2014
10:14 EDTFBFacebook view changed to Positive from Neutral at OTR Global (pre-open)
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09:40 EDTFB, AMZNActive equity options trading on open
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09:09 EDTGOOGSenate Commerce, Science & Transportation Committee holds a hearing
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08:39 EDTGOOGMicrosoft shifting some Nokia X designs to Lumia products running Windows
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07:46 EDTGMSenate Commerce & Transportation Committee to hold a hearing
The Subcommittee on Consumer Protection, Product Safety and Insurance holds a hearing entitled, "Examining Accountability and Corporate Culture in Wake of the GM Recalls" with General Motors CEO Barra and EVP Milllikin and President & CEO O'Neal of Delphi Automotive on July 17 at 10 am. Webcast Link
06:53 EDTGMGM deems some cars with same recalled switch 'safe', Reuters says
Even though GM issued a recall for millions of cars with defected ignition switches, the automobile manufacturer has concluded that over 2M other vehicles with the same switches are safe, according to Reuters, citing comments from GM spokesman Alan Adler. The car models which have not been recalled include fullsize crossovers such as the Buick Enclave and the Chevrolet Traverse manufactured from 2007 to the present. Reference Link
06:50 EDTGOOG, FB, AMZNAirbus considering partnering with high tech companies, NY Times says
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06:47 EDTGOOGGoogle plans big push in India for Android One initiative, The Informations says
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06:38 EDTGMGeneral Motors hires outside law firm to review litigation practices, WSJ says
General Motors has hired an outside law firm to review the way it handles litigation, reports the Wall Street Journal. The company's General Counsel Michael Millikin plans to say in a testimony at a Senate hearing Thursday that a "well-respected outside law firm" will conduct a "zero-based review" of his department. Reference Link
July 16, 2014
17:39 EDTGOOGeBay says Google search algorithm change slowed traffic in June
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16:00 EDTAMZN, FB, GOOGOptions Update; July 16, 2014
iPath S&P 500 VIX Short-Term Futures down 70c to 27.25. Option volume leaders: AAPL FB GOOG AMZN TWTR TSLA C HPQ TWX INTC AMZN according to Track Data.
13:05 EDTGMGM sold 2.5M vehicles worldwide in Q2
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12:47 EDTGOOGYahoo falls after results disappoint, details additional plans for Alibaba stake
Shares of media and search engine company Yahoo (YHOO) are falling after the company's second quarter results fell short of analysts' consensus estimates. The company also said it will lower the amount of stock it will sell in Alibaba's initial public offering to 140M shares and that it plans to return "at least half" of its after-tax proceeds from the stake sale to its shareholders. WHAT'S NEW: Last night, Yahoo reported Q2 earnings per share of 37c and revenue ex-tac of $1.04B, narrowly missing analysts' consensus estimates of 38c and $1.08B, respectively. The company's Q2 display ad revenue fell 7% to $394M, while Q2 price per ad fell 24% versus last year. Q2 search revenue ex-tac increased 6% to $428M. Yahoo said that in Q2, the number of ads sold increased approximately 24% compared to last year, while the number of paid clicks increased approximately 3%. Price-per-click increased 15% compared to last year. Marissa Mayer, Yahoo's Chief Executive Officer, said that as the company's top priority is revenue growth, it is "not satisfied" with Q2 results. Mayer noted that several areas showed strength in the quarter, including Yahoo Search, which grew 6% year-over-year on a revenue ex-tac basis, but their growth was offset by declines. Meyer says the company needs to "work faster to ameliorate" negative trends in display. Mayer says the company "can and will do better" going forward. WHAT'S NOTABLE: Looking ahead, Yahoo forecast third quarter revenue ex-tac of $1.02B-$1.06B, below the consensus of $1.1B. The company also guided Q3 adjusted earnings before interest, taxes, depreciation and amortization, or EBTIDA, at $220M-$260M and non-GAAP operating income of $70M-$110M. Yahoo also noted that it will lower the number of shares it sells in the Alibaba IPO to 140M from 208M, and is committed to return at least half of the after-tax IPO proceeds to shareholders. Mayer noted on the company's earnings conference call that "A transformation of this size will take several years," adding that "it will take a little longer than originally forecasted." ANALYST REACTION: This morning, research firm CRT Capital downgraded Yahoo to Fair Value from Buy, citing mixed Q2 earnings and weak guidance. The firm sees pressure on ad pricing continuing for at at least two to three quarters. Another firm, Bernstein, lowered their price target on Yahoo to $40 from $43 following the company's weaker than expected results and said that it would return 50% of its proceeds from the Alibaba IPO to shareholders. The firm thinks there is an increased risk that Yahoo will use the other 50% on M&A, and Bernstein sees high risk that the M&A will destroy value. Bernstein kept an Outperform rating on the stock. Piper Jaffray said Yahoo should be owned ahead of the Alibaba IPO, noting its agreement with Alibaba to reduce the number of shares it will sell at the IPO should outweigh the "unsurprising" challenges in the company's core business. The firm, which kept an Overweight rating on the stock, expects the stock to react positively on the Q2 earnings report. PRICE ACTION: In early afternoon trading, Yahoo fell $1.66, or about 4.7%, to $33.95 on heavy trading volume. Despite today's pull back, the stock is up approximately 25% over the past 12 months. OTHERS TO WATCH: Yahoo peer AOL (AOL) is down over 4.% to $38.98. Jackie Reses, Yahoo's chief of mergers and acquisitions, said at the Fortune Brainstorm Tech Conference that the company is not planning to buy AOL, Re/code reported this morning. Mayer previously told a number of people that she does not "get" the merger.
10:58 EDTAMZNAmazon testing 'Kindle Unlimited' subscription service, Gigaom reports
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10:58 EDTGOOGSamsung in talks to buy SmartThings for about $200M, TechCrunch reports
Samsung is in talks to acquire SmartThings, a company in the home automation space that allows users to connect devices like lights and doorlocks to a system controlled by their mobile phone, TechCrunch reports. The purchase price is said to be around $200M. Reference Link
09:02 EDTGMGeneral Motors volatility low into testimony at Senate hearing
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06:31 EDTGMDocuments show GM hid defect from regulators, NY Times reports
Documents indicate that GM knew at least three fatal crashes were caused by its faulty ignition switches, but failed to tell regulators that when asked about the cause of the accidents, according to The New York Times. Reference Link
06:29 EDTGMSenators turn scrutiny towards GM General Counsel, WSJ reports
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06:19 EDTGMFord, GM, Chrysler not interested in Tesla patents, Detroit News says
Ford (F), General Motors (GM), and Chrysler (FIATY) either have little interest in Tesla's (TSLA) EV patents or the companies are not sharing their plans, reports the Detroit News. Reference Link
06:14 EDTGOOG, SNEABI Research: More than 2B smartphones to ship in 2018, DigiTimes says
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