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Stock Market & Financial Investment News

News Breaks
August 1, 2014
13:46 EDTPKI, GPRO, EXPE, PG, CVX, BYI, SGMSOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday after a report showed that the economy continued to add jobs last month though the pace of hiring slowed a bit from the recent trend. ECONOMIC EVENTS: In the U.S., non-farm payrolls rose 209K in July, missing the 230K forecast. The unemployment rate rose to 6.2% from 6.1% previously. Personal income rose 0.4% in June, with spending up 04% as well, and both of those matched expectations. The final reading of the University of Michigan consumer sentiment index for July came in at 81.8, which was in-line with expectations. seen 81.9; previously 81.3. ISM's manufacturing PMI for July rose to 57.1, beating expectations for a more modest rise to 56.0. Construction spending dropped 1.8% in June, versus expectations for it to have risen 0.4%. COMPANY NEWS: Shares of Procter & Gamble (PG) advanced more than 3% to lead the Dow Jones Industrial Average after the company's core earnings per share beat expectations and it said it intends to pare back its portfolio to focus on the 70 to 80 "core" brands that make up about 90% of its revenue... Another member of the Dow, Chevron (CVX), moved in the opposite direction, falling about 1% after its own earnings report. The oil major also lowered its FY14 production view by 1%-2%, citing weather, asset sales and a shutdown at its Angola LNG site as negative production drivers. MAJOR MOVERS: Among the notable gainers was Bally Technologies (BYI), which jumped 30% after the company agreed to be acquired by Scientific Games (SGMS) for $5.1B, or $83.30 per share. Shares of Scientific Games slipped 1.6% after the news. Also higher following its earnings reports was Expedia (EXPE), which rose 5%. Among the noteworthy losers was GoPro (GPRO), which tumbled 12.5% after the company reported on its earnings per share and revenue for the first time since its initial public offering in June. Also lower following their earnings reports were Web.com (WWWW), which fell 25% and was downgraded at SunTrust and BWS Financial, and PerkinElmer (PKI), which fell 4%. INDEXES: A bit before 2:00 pm ET, the Dow was down 60.46, or 0.37%, to 16,502.84, the Nasdaq was down 24.60, or 0.56%, to 4,345.17, and the S&P 500 was down 4.57, or 0.24%, to 1,926.10.
News For PG;CVX;BYI;SGMS;GPRO;EXPE;PKI From The Last 14 Days
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October 16, 2014
06:43 EDTGPROJournalist: Comments on GoPro link to injury were only opinion, Reuters reports
A French journalist whose comments about GoPro dragged down the stock earlier this week said on Tuesday that he was only voicing his opinion, Reuters reported last night. The French journalist, Jean-Louis Moncet, had suggested that injuries sustained by Formula 1 legend Michael Schumacher may have been caused by GoPro's camera, but on Tuesday he wrote on Twitter that he had not been conveying news about GoPro, but only stating his opinion,, Reuters explained. Reference Link
October 15, 2014
13:50 EDTGPROGoPro resumes downside, levels to watch
After a brief two-session pause in selling, the shares are down over 6% on the day to $70.42. At that price support is at $69.18, a prior pivot low on a closing basis, and then at $68.35 which is the session low. Resistance is at $70.98, the opening price of the day.
10:02 EDTGPROOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Atwood Oceanics (ATW) initiated with a Buy at ISI Group... Baker Hughes (BHI) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Buy at ISI Group... C&J Energy (CJES) initiated with a Buy at ISI Group... CARBO Ceramics (CRR) initiated with a Hold at ISI Group... CHC Group (HELI) initiated with a Buy at ISI Group... Cameron (CAM) initiated with a Buy at ISI Group... Chart Industries (GTLS) initiated with a Buy at ISI Group... Core Laboratories (CLB) initiated with a Buy at ISI Group... Diamond Offshore (DO) initiated with a Sell at ISI Group... Dresser-Rand (DRC) initiated with a Sell at ISI Group... Dril-Quip (DRQ) initiated with a Buy at ISI Group... Ensco (ESV) initiated with a Buy at ISI Group... FIS (FIS) initiated with a Market Perform at BMO Capital... FMC Technologies (FTI) initiated with a Buy at ISI Group... GoPro (GPRO) initiated with a Sector Perform at Pacific Crest... Halliburton (HAL) initiated with a Buy at ISI Group... Helmerich & Payne (HP) initiated with a Neutral at Citigroup... Hercules Offshore (HERO) initiated with a Sell at ISI Group... Key Energy (KEG) initiated with a Buy at ISI Group... Maxwell (MXWL) reinstated with a Buy at Canaccord... Nabors Industries (NBR) initiated with a Buy at ISI Group... Noble Corp. (NE) initiated with a Buy at ISI Group... Oceaneering (OII) initiated with a Buy at ISI Group... Paragon Offshore (PGN) initiated with a Buy at ISI Group... Parker Drilling (PKD) initiated with a Buy at ISI Group... Patterson-UTI (PTEN) initiated with a Buy at Citigroup... Peabody (BTU) initiated with an Underperform at Imperial Capital... RPC, Inc. (RES) initiated with a Buy at Citigroup... Receptos (RCPT) initiated with a Buy at Goldman... Rowan Companies (RDC) initiated with a Buy at ISI Group... Schlumberger (SLB) initiated with a Buy at ISI Group... Sensata (ST) resumed with a Buy at Citigroup... Tidewater (TDW) initiated with a Hold at ISI Group... Transocean (RIG) initiated with a Sell at ISI Group... Weatherford (WFT) initiated with a Buy at ISI Group.
07:44 EDTCVXExxon, Shell behind rivals in lowering greenhouse gas emissions, WSJ reports
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06:53 EDTGPROGoPro shares already pricing in 'robost' results, says JPMorgan
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06:25 EDTGPROGoPro initiated with a Sector Perform at Pacific Crest
Pacific Crest says that while GoPro has a "tremendous franchise," the stock is already pricing in upside and "significant optimism" over the company's media monetization opportunities. The firm believes the valuation looks "rich" and started shares of GoPro with a Sector Perform rating.
October 14, 2014
10:08 EDTPGProcter & Gamble: There is no doubt we are in a stretch of global volatility
The company said there is a high amount of volatility both politically and economically. The company said it is "trying its best" and that they're "on it."
09:26 EDTPGProcter & Gamble sees significant savings opportunities
The company plans to create a new P&G over the next 18-24 months that will consist of 70-80 brands organized in a dozen businesses. The company plans to reduce waste, and to have a North Aerican supply chain redesign that will see fewer, multi-category plants and more common manufacturing platforms. Comments taken from P&G Annual Meeting of Shareholders.
09:19 EDTCVXChevron delays $12B deepwater project after gas discovery, Jakarta Post says
PT Chevron Pacific Indonesia, a unit of Chevron, has submitted a letter requesting the postponement of its $12B Indonesia Deepwater Development project as it revise its calculations on the project following the discovery of a new gas reserve that has increased the projectís monetizing value, reported The Jakarta Post, citing an official with the Energy and Mineral Resources Ministry. Reference Link
08:27 EDTGPROMoncet denies speaking with Schumacher's son about injury, GoPro camera
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October 13, 2014
16:28 EDTGPROOn The Fly: Closing Wrap
Stocks on Wall Street spent most of today's quiet session see-sawing across the flat-line before dropping sharply in the final hour of trading and closing at their lows. The market opened in negative territory but soon made a move to the upside and appeared ready to break the recent market slide that has seen the S&P lose about 5% of its value. Before the averages gained significant steam, they reversed again and moved back into negative ground. The averages moved in a fairly narrow range for most of the afternoon, before accelerating to the downside with conviction in the final hour of trading. ECONOMIC EVENTS: In the U.S., no economic data of note was reported and banks and bond markets were closed in observance of the Columbus Day holiday. In China, the nation's customs administration reported a trade surplus of about $31B for September. Exports in the month increased 15.3% from a year earlier, beating expectations and making for the biggest monthly increase since February 2013. Imports rose 7%, significantly outpacing the consensus projection for a 2% decline. COMPANY NEWS: The Wall Street Journal reported that CSX (CSX) was approached by a larger rival, Canadian Pacific (CP), about a possible merger. However, Credit Suisse analyst Allison Landry wrote in a note to investors that a merger between the two would not be able to occur, due to high regulatory hurdles. Still, CSX rose $1.76, or 5.88%, to $31.70 following the Journal's report, while Canadian Pacific fell $4.40, or 2.32%, to $184.97... Shares of Fiat Chrysler Automobiles (FCAU) made their debut on the New York Stock Exchange and opened at $9 per share. The stock of the newly merged company closed trading down about 1% at $8.92... J.C. Penney (JCP) selected Marvin Ellison, who is currently executive vice president of stores at Home Depot (HD), to become its next CEO. The stock, which was also downgraded to Sell from Neutral at UBS this morning, spent much of the trading day in positive ground but moved lower late in the session and closed down 3c, or 0.42%, at $7.09. MAJOR MOVERS: Among the notable gainers was Alnylam (ALNY), which advanced $13.83, or 18.98%, to $86.68 after the company announced data from study of its treatment for patients with familial amyloidotic polyneuropathy and Piper Jaffray raised its price target on the stock to $133 from $101 citing the trial results. Among the noteworthy losers was AutoNation (AN), which fell $4.11, or 8.01%, to $47.21 after another company in the same sector, Lithia Motors (LAD), lowered its profit outlook for the third and fourth quarter and issued a lower than expected earnings forecast for fiscal 2015. Shares of Lithia, meanwhile, plunged $16.85, or 20.84%, to $64.01. Also lower were shares of GoPro (GPRO), which fell $8.38, or 9.85%, to $76.67 after a French journalist reported that the son of racing legend Michael Schumacher attributed the severity of his father's brain injury following a skiing accident on the GoPro camera mounted to his helmet. INDEXES: The Dow fell 223.03, or 1.35%, to 16,321.07, the Nasdaq dropped 62.58, or 1.46%, to 4,213.66, and the S&P 500 declined 31.39, or 1.65%, to 1,874.74.
12:16 EDTGPROOn The Fly: Midday Wrap
Stocks on Wall Street were slightly lower at midday amid light trading volume. Banks and bond markets are closed in observance of the Columbus Day holiday, though equity markets remain open. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Shares of a number of freight train operators rose after The Wall Street Journal reported that one of the companies in the sector, CSX (CSX), was approached by a larger rival, Canadian Pacific (CP), about a possible merger. Following the Journal's report, CSX rose 10% and Canadian Pacific advanced 1%, while Norfolk Southern (NSC) and Kansas City Southern (KSU) both climbed about 3%... Chrysler returned to the U.S. stock market, as shares of Fiat Chrysler began trading on the New York Stock Exchange under the symbol "FCAU." MAJOR MOVERS: Among the notable gainers was J.C. Penney (JCP), which rose 3% after the company selected Marvin Ellison, who is currently executive vice president of stores at Home Depot (HD), to become its next CEO. Also higher were Atlas Energy (ATLS), which rose 20%, and Atlas Pipeline Partners (APL), which advanced 6%, after Targa Resources Partners (NGLS) and Targa Resources (TRGP) agreed to acquire Atlas Pipeline Partners for cash and stock valued at $38.66 per APL common unit and agreed to buy Atlas Energy following the company's spin-off of its non-midstream assets. Among the noteworthy losers was Aerohive Networks (HIVE), which plunged 30% after the company lowered its guidance for the third quarter, citing weaker-than-expected order volume near the quarter's end. Also lower were shares of GoPro (GPRO), which fell over 8% after a French journalist reported that the son of racing legend Michael Schumacher attributed the severity of his father's brain injury following a skiing accident on the GoPro camera mounted to his helmet. INDEXES: Near midday, the Dow was down 32.14, or 0.19%, to 16,511.96, the Nasdaq was down 7.97, or 0.19%, to 4,268.27, and the S&P 500 was down 6.85, or 0.36%, to 1,899.28.
10:57 EDTGPROGoPro tumbles, levels to watch
The shares are down 11.3% to $75.20 after an earlier report that a GoPro helmet camera may have caused a brain injury to Michael Schumacher in a skiing accident last December, as reported by PetaPixel. Support is at the session low at $73.28 and then at $72.88. Resistance is at $77.30. Momentum has turned negative in the name, making further share losses more likely.
10:11 EDTGPROGoPro helmet camera may have caused Schumacher's brain injury, PetaPixel says
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10:07 EDTGPROGoPro October volatility elevated on sharp sell off
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10:00 EDTEXPEExpedia October calls active on renewed takeover chatter
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09:46 EDTEXPERumor: Expedia moves up on renewed takeover chatter
Shares of Expedia are moving higher on takeover speculation emanating from the following link. Reference Link
06:36 EDTCVXSaudi Arabia content to let oil prices stay low, Reuters reports
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October 12, 2014
13:53 EDTCVXKuwaiti Minister says OPEC unlikely to cut production, WSJ says
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13:45 EDTCVXSaudis take aggressive oil measures in Europe, WSJ says
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