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Stock Market & Financial Investment News

News Breaks
May 21, 2014
08:55 EDTRAI, RAIReynolds American to hold a press conference
Press Conference to announce company news related to economic development issues to be held in Tobaccoville, NC on May 23 at 9:30 am. Anticipated speakers include RAI President & CEO Cameron, along with North Carolina Governor Pat McCrory.
News For RAI From The Last 14 Days
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July 28, 2014
07:13 EDTRAIReynolds American upgraded at RBC Capital
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06:38 EDTRAIReynolds American upgraded to Top Pick from Outperform at RBC Capital
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July 21, 2014
09:10 EDTRAIOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
July 19, 2014
19:44 EDTRAI R.J. Reynolds hit with $23.6B in damages in lung cancer case, WSJ says
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July 18, 2014
16:47 EDTRAIMarket ends week higher as earnings, M&A offset geopolitical tensions
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July 16, 2014
08:20 EDTRAICigarette makers focus on heavy users, seek growth from e-cigs, WSJ says
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06:38 EDTRAIE-cigarettes being sold in many flavors, NY Times says
Tobacco companies are offering e-cigarettes with hundreds of different flavors, such as banana cream pie and cotton candy, according to The New York Times. The FDA has banned most flavors in regular cigarettes, and the agency is studying the marketing and flavors of e-cigarettes, the newspaper noted. Publicly traded companies in the space include Altria Group (MO), British American Tobacco (BTI), Lorillard (LO), Philip Morris (PM) and Reynolds American (RAI). Reference Link
July 15, 2014
16:40 EDTRAIOn The Fly: Closing Wrap
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12:21 EDTRAIOn 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 EDTRAIReynolds American CEO says Newport brand enhances portfolio
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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 EDTRAIOn The Fly: Pre-market Movers
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09:17 EDTRAICowen tobacco/beverages analyst holds an analyst/industry conference call
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07:25 EDTRAIReynolds 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 EDTRAIImperial Tobacco to acquire U.S. cigarette brands owned by Lorillard for $7.1B
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07:15 EDTRAIBritish American to invest $4.7B in Reynolds-Lorillard deal, suspend buyback
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07:12 EDTRAIBritish American Tobacco to suspend GBP1.5B buyback program from July 30
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07:12 EDTRAIBritish American Tobacco to invest $4.7B as part of Reynolds-Lorillard deal
07:11 EDTRAIReynolds American to acquire Lorillard in transaction valued at $68.88 per share
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07:06 EDTRAIReynolds American to acquire Lorillard in transaction valued at $27.4B
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