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Stock Market & Financial Investment News

News Breaks
February 6, 2014
06:55 EDTPM, BTI, LO, MO, RAIE-cigarettes prepare for FDA regulation, Bloomberg says
The Food and Drug Administration is preparing to make decisions determining whether e-cigarettes will be a gateway product for young smokers to develop a nicotine habit in the face of a $1.5B industry, reported Bloomberg. Some names in the tobacco industry include include Altria Group (MO), British American Tobacco (BTI), Lorillard (LO), Philip Morris (PM) and Reynolds American (RAI). Reference Link
News For PM;BTI;LO;MO;RAI From The Last 14 Days
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July 16, 2014
05:53 EDTLOStocks with implied volatility below IV index mean; LO SHPG
Stocks with implied volatility below IV index mean; Lorillard (LO) 21, Shire (SHPG) 31 according to iVolatility.
July 15, 2014
16:40 EDTRAI, LOOn The Fly: Closing Wrap
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12:21 EDTLO, RAIOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday despite better than expected quarterly reports from two of the nation's largest financial institutions. Stock futures improved during the pre-market trading session, leading to a higher open for the broader market, following better than expected earnings reports from JP Morgan (JPM) and Goldman Sachs (GS). The earnings news also came alongside another huge M&A deal, as tobacco giants Reynolds American (RAI) and Lorillard (LO) confirmed plans to merge. However, the major averages weakened throughout the morning and fell into negative ground against the backdrop of Fed Chair Janet Yellen giving testimony on Capital Hill. In the Board of Governors' Monetary Policy Report, the central bank said valuation metrics in "some sectors" appear substantially stretched, "particularly those for smaller firms in the social media and biotechnology industries." ECONOMIC EVENTS: In the U.S., retail sales increased 0.2% in June compared to the month prior, making for the weakest reading since January and missing the consensus forecast for an increase of 0.6%. The Empire State manufacturing index climbed to a four-year high of 25.6 in July, beating expectations for a reading of 16.5. Import prices rose 0.1% in June, with export prices slipping 0.4%. Business inventories grew 0.5% in May, which was just below the 0.6% consensus growth expectation. In Europe, Germany's ZEW survey missed expectations, as both its Current Situation and Expectations reading were lower than forecast. COMPANY NEWS: Shares of JPMorgan advanced nearly 4% after the bank reported a profit of $1.46 a share, which included a legal expense of 13c a share, beating analysts' consensus forecast of $1.29. The earnings report comes after CEO Jamie Dimon recently disclosed that he has throat cancer. During the company's conference call, Dimon said he was "feeling great," that doctors had found no evidence of cancer anywhere except in the location where it had originally been detected, and that his prognosis for recovery is "excellent"... Also in the large-cap bank sector, Goldman Sachs' headline earnings and revenue similarly beat expectations. The firm, which said it ranks first in worldwide announced and completed mergers and acquisitions for the year-to-date, advanced about 1% following its report... Along with JPMorgan in the Dow Jones Industrial Average, Johnson & Johnson (JNJ) reported quarterly sales and profits that beat expectations and the healthcare conglomerate raised its fiscal year EPS view to $5.85-$5.92 from $5.75-$5.85. However, its increased outlook range still fell short of the $5.90 per share consensus forecast that analysts had prior to its report... Reynolds American confirmed news that has been speculated for many weeks, announcing that it will acquire peer Lorillard in a cash-and-stock transaction currently valued at $68.88 per Lorillard share, or a total of $27.4B, including the assumption of net debt. Shares of both fell afterward, with Lorillard down 8% to trade near $61.75 at midday and Reynolds slipping 5%. MAJOR MOVERS: Among the notable gainers was small-cap pharma biotechnology research company Codexis (CDXS), which surged nearly 50% after announcing a collaboration and license agreement with GlaxoSmithKline (GSK). Among the noteworthy losers was Aaron's (AAN), which is engaged in the lease ownership and retail sale of a variety of consumer products. Its stock fell over 6% after the company lowered its second quarter outlook, citing lower than expected performance of its core business as the reason for the revision. INDEXES: Near midday, the Dow was down 33.45, or 0.2%, to 17,021.97, the Nasdaq was down 40.48, or 0.91%, to 4,399.94, and the S&P 500 was down 9.24, or 0.47%, to 1,967.86.
11:26 EDTRAI, LOReynolds American CEO says Newport brand enhances portfolio
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10:37 EDTLOOptions with decreasing implied volatility
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10:17 EDTLOLorillard falls after Reynolds American acquisition, levels to watch
The shares are down over 7.3% to $62.27 at time of writing. At that price next support is at $61.42, the low of the day. Resistance is at $63.11, the opening price of the day.
09:52 EDTRAIReynolds American falls after announcing Lorillard acquisition, levels to watch
The stock is down over 3.6% at time of writing to $60.89 following news of the deal to acquire Lorillard (LO). At current price next support is at $60.16. Resistance is at $61.56.
09:21 EDTLO, RAIOn The Fly: Pre-market Movers
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09:17 EDTLO, RAICowen tobacco/beverages analyst holds an analyst/industry conference call
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07:25 EDTLO, RAIReynolds American & Lorillard to host joint conference call
Conference call to discuss agreement to acquire Lorillard, Inc. will be held on July 15 at 8 am. Webcast Link
07:20 EDTRAI, LOImperial Tobacco to acquire U.S. cigarette brands owned by Lorillard for $7.1B
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07:15 EDTBTI, RAI, LOBritish American to invest $4.7B in Reynolds-Lorillard deal, suspend buyback
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07:12 EDTLO, RAI, BTIBritish American Tobacco to suspend GBP1.5B buyback program from July 30
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07:12 EDTLO, RAI, BTIBritish American Tobacco to invest $4.7B as part of Reynolds-Lorillard deal
07:11 EDTRAI, LOReynolds American to acquire Lorillard in transaction valued at $68.88 per share
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07:06 EDTRAI, LOReynolds American to acquire Lorillard in transaction valued at $27.4B
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July 14, 2014
10:00 EDTRAIOn The Fly: Analyst Upgrade Summary
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08:24 EDTLO, RAIReynolds American upgraded at RBC Capital
As noted earlier, RBC Capital upgraded Reynolds American (RAI) to Outperform from Sector Perform. After Reynolds and Lorillard (LO) confirmed that they are in talks about an acquisition of Lorillard by Reynolds, RBC Capital expects a deal to take place soon and thinks Reynolds' stock could rally to $72 on a deal. Target to $72 from $52.
07:09 EDTLO, RAIDecrease in lawsuits could help Reynolds, Lorillard merger, Reuters says
Analysts who follow the smoking industry are saying that the leveling-off of smoking-related lawsuits against U.S. tobacco companies could making it more likely that a merger between Reynolds American (RAI) and Lorillard (LO) will transpire, reported Reuters. Reference Link
06:16 EDTRAIReynolds American upgraded to Outperform from Sector Perform at RBC Capital
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