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Stock Market & Financial Investment News

News Breaks
June 10, 2014
09:21 EDTQIWIQIWI board elects Boris Kim as Chairman
QIWI announced that the company's board of directors has elected Boris Kim Chairman of the board. Kim, who has been a member of QIWI's Board of Directors since 2013, currently the head of the Payment Networks and Banking Instruments Committee at the Russian E-Market Participants National Association. Sergey Solonin, QIWI's President and CEO, said, "Boris' significant payments industry experience and his management expertise will be valuable assets to QIWI as we execute on our growth plan, and make him a natural fit as Chairman of the Board."
News For QIWI From The Last 14 Days
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May 18, 2015
17:06 EDTQIWIQIWI, Russian post launch joint money transfer service
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13:38 EDTQIWIQIWI downgraded to Neutral from Buy at Citigroup
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May 14, 2015
12:49 EDTQIWIOn The Fly: Top stock stories at midday
The market opened higher amid lower than expected weekly jobless claims, data showing that producer prices fell rather than rose in April and a continued slide in the dollar against the euro. The Dow notched triple digit gains right out of the gate and the averages have moved in a narrow range in morning trading, albeit at near-record levels. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 1K to 264K in the week ended May 9, versus expectations for 273K first-time claims. The weekly data brought the four week moving average to 271.75K, which marks its lowest level in 15 years. The Producer Price Index fell 0.4% in April, with the core PPI reading sliding 0.2%, which missed expectations for both the headline and core PPI figures to have grown 0.1%. After dropping 1.3% yesterday against the euro, the U.S. dollar slid another 0.4% earlier to about $1.14 per euro, bringing its decline to about 7% versus the euro in the past month. COMPANY NEWS: Shares of Avon Products (AVP) were volatile after "PTG Capital Partners" announced via a filing with the SEC that it has submitted an offer to the board of Avon proposing to acquire all of the company's outstanding stock, and outstanding options to acquire such shares, in a recommended cash tender offer at a price per share of $18.75. Shares of Avon spiked initially after the filing, were halted several times due to volatile trading, and came well off their earlier highs as investors questioned the validity of the firm making the purported offer. A source told Dow Jones that the company was treating the purported bid as a hoax and Avon told CNBC that it had no proof PTG exists and that it has not received any offer. Still, Avon remained up about 4% to trade near $6.92 per share in early afternoon trading. MAJOR MOVERS: Among the notable gainers was Russia's QIWI (QIWI), which jumped 12% after the company announced that it has entered into an agreement with Otkritie to acquire the Contact money transfer system and the Rapida payment processing system, which are "highly value accretive" acquisitions according to analysts at JPMorgan. Also higher was China's Ctrip.com (CTRP), which gained 10% and was upgraded at Stifel and Oppenheimer following the company's Q1 results. Among the noteworthy losers was Puma Biotechnology (PBYI), which dropped 18% after data on the company's neratinib drug was disclosed via an abstract for the company's upcoming presentation at the American Society of Clinical Oncology, or ASCO, meeting. Also lower following its earnings report was retailer Kohl's (KSS), which slid over 12%. INDEXES: Near midday, the Dow was up 170.23, or 0.94%, to 18,230.72, the Nasdaq was up 55.96, or 1.12%, to 5,037.65, and the S&P 500 was up 17.10, or 0.81%, to 2,115.58.
07:47 EDTQIWIQIWI price target raised to $50 from $38 at JPMorgan
JPMorgan raised its price target for QIWI to $50 from $38 calling the company's acquisition of Contact and Rapida "highly value accretive." The firm also views QIWI's Q1 results a "strong beat." It reiterates an Overweight rating on the stock.
06:36 EDTQIWIQIWI announces acquisition of Contact and Rapida
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06:35 EDTQIWIQIWI says economic slowdown in Russia could have negative effect on company
QIWI said it has started to note the effects of the macroeconomic slowdown in Russia in the second half of 2014 and especially in Q4, which may be long lasting and could have a significant negative effect on both consumer spending and the banking system in Russia and, accordingly, on QIWI's business in the future. The extent of the slowdown, and if that were to result in a full scale banking crisis, is yet to be assessed. QIWI says it does not currently have enough visibility on our Total Adjusted Net Revenue and Adjusted Net Profit in 2015. QIWI reiterates the 2015 guidance based on the current understanding of the macroeconomic situation, which is subject to change.
06:33 EDTQIWIQIWI backs FY15 adjusted net revenue to increase 12%-16%, consensus RUB 10.03B
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06:33 EDTQIWIQIWI reports Q1 adjusted EPS RUR 14.78, consensus RUR 16.16
Reports Q1 adjusted net revenue RUB 2.52B, consensus RUR 2.15B. Reports Q1 Payment adjusted net revenue RUB 1.84B. The total average Net Revenue Yield was 1.59%, an increase of 33 bps as compared with 1.26% in the prior year. The number of active kiosks and terminals was 177,448, an increase of 6% compared with the prior year.

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