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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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September 26, 2014
10:18 EDTGPROGoPro slips, levels to watch
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06:41 EDTGPROGoPro Q3 likely to hit high end of guidance, says JPMorgan
JPMorgan says GoPro's Q3 results are likely to come in at the high end of guidance after its channel checks indicated demand may have outstripped supply in the quarter. The firm believes the stock is now trading above fair value following the recent rally. It raised its price target for GoPro to $54 from $51 and keeps a Neutral rating on the name.
September 25, 2014
17:16 EDTSGMSScientific Games receives three-year contract extension with Delaware Lottery
Scientific Games announced that it has signed a full extension of its contract with the Delaware Lottery to continue as a provider of instant lottery games and a Cooperative Services Program, or CSP. Under the agreement, the company will continue to provide instant games to the Delaware Lottery for three additional years beginning February 1, 2015. Scientific Games will also continue to provide CSP services including instant game design, marketing services, warehouse management, inventory control and retail distribution. In FY14, the Delaware Lottery had a record year with $50.6M in instant game sales.
10:28 EDTPGProcter & Gamble, Hasbro face tax probe in Mexico, Reuters says
Mexico's Oscar Molina, who previously said seven multinationals were the focus of a government probe of companies that may have been exploiting loopholes to avoid paying sufficient taxes, has now said he is in advanced discussions with two companies to pay more tax for prior years, and five sources have told Reuters those two are Procter & Gamble (PG) and Hasbro (HAS). Reference Link
07:35 EDTGPROHTC previews apparent GoPro competitor
Electronics maker HTC previewed its RECamera portable camera, which appears to be a competitor to devices from GoPro (GPRO), in a post to its official YouTube account entitled "Something Remarkable is Coming." In the post, HTC stated: "Visit RECamera.com on October 8th for the world premiere of a remarkable new product." Reference Link
06:12 EDTGPROGoPro implied volatility of 118 at upper end of index mean range
September 24, 2014
14:36 EDTEXPEExpedia weekly calls active after report says Taobao considers stake in unit
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14:04 EDTEXPEExpedia up after report says Taobao considers stake in unit
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09:45 EDTGPROGoPro gaps up at open, runs higher
In what has become something of a pattern for the shares, there was a bullish gap up at the open with some follow through in rally form. At the current price of $75.55 the only resistance is the fresh life high at $76.25. Support is at $74.50. This run higher follows a brief period of consolidation, a sideways move, largely contained between $65 and $70 over the last two weeks. If traders can look past the clear stretch in valuation, the stock could still run on a pure momentum basis. The risk is there is very little real support below until that consolidation zone that starts at the $70 area.
07:11 EDTGPROGoPro volatility elevated, shares at record high
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06:42 EDTPGMore e-commerce start-ups undercutting established firms, NY Times says
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September 23, 2014
10:02 EDTCVXOn The Fly: Analyst Initiation Summary
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09:01 EDTEXPEExpedia Q3 checks show bookings growth at, above 30%, says FBR Capital
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09:01 EDTPGDistrict court rules in favor of P&G on patent infringement case
In a series of rulings this summer, culminating with a ruling issued on September 15th, the federal District Court for the Southern District of Ohio ruled that Clio USA’s tooth whitening strip products infringe several P&G patents related to P&G’s Crest Whitestrips products. The Court also rejected Clio’s arguments that the patents are invalid.
08:00 EDTPGSpectrum Brands to acquire P&G's European pet food business
Procter & Gamble (PG) announced that Spectrum Brands (SPB) has agreed to buy IAMS and EUKANUBA brands in Europe for an undisclosed amount. In April, P&G announced the sale to Mars of 80% of its global Pet Care business, including North America and Latin America. Europe was not included in that deal with the exception of Russia and Turkey. Mars later agreed to buy an additional 10% of the business in additional markets including Japan, Australia and South Africa. With the Spectrum transaction, P&G now has closed deals or reached agreements to sell 100% of its Pet Care business. The deal will close in 2015, subject to regulatory approvals. The geographic regions included in the acquisition, which account for approximately 10% of P&G’s former pet care global sales, include 42 markets throughout Europe. The business has approximately $200M of annual sales and will provide Spectrum Brands’ United Pet Group division access to the $21B European dog and cat food market which is growing at an estimated 3%-5% annually. The acquisition has been approved by Spectrum Brands' board.
06:04 EDTCVXChevron initiated with a Neutral at JPMorgan
Target $133.
September 22, 2014
12:11 EDTEXPETripAdvisor sinks after data breach at just acquired unit
Shares of TripAdvisor (TRIP) are falling after the company's Viator unit reported today that it had experienced a data breach. TripAdvisor operates websites with information about travel destinations and flights. Viator, whose acquisition by TripAdvisor closed in August, features more than 20,000 bookable tours and attractions and more than 600,000 reviews, photos, and videos submitted by travelers, TripAdvisor has stated. WHAT'S NEW: Viator stated that it was informed on September 2 that unauthorized charges had been made on a number of its customers' credit cards. The data breach that the unit experienced could affect payment card data that was used to make bookings through the unit's websites, according to Viator. Moreover, customers' email addresses and their passwords and user names for Viator may have also been compromised. About 880,000 customers may have had their payment card information compromised, while about 560,000 customers' Viator account information and e-mail addresses may have been affected, the unit reported. WHAT'S NOTABLE: The breach at Viator comes in the wake of large data breaches at a number of bellwether companies in recent months, including JPMorgan (JPM) and Home Depot (HD). Late last year tens of thousands of payment card data was stolen from Target (TGT). PRICE ACTION: In late morning trading, TripAdvisor sank 5.5% to $93. Others names in the online travel space are falling, with Priceline.com down 3% and Expedia down 2%. :the
September 20, 2014
22:05 EDTPGClorox turned down offer to sell or merge with rival, NY Post says
In the last three to six months consumer packaged-goods company Clorox (CLX) turned down an offer from a rival interested in a sale or merger, says the NY Post, citing sources. The NY Post added that logical suitors for Clorox include Church & Dwight (CHD), Procter & Gamble (PG), Jarden (JAH) and Unilever (UN,UL). Reference Link
September 19, 2014
12:24 EDTCVXChevron looks to sell Hawaiian oil refinery, Bloomberg says
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September 18, 2014
05:50 EDTGPROStocks with implied volatility movement; WLT GPRO
Stocks with implied volatility movement; Walter Energy (WLT) 86, GoPro (GPRO) 95 according to iVolatility.
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