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Stock Market & Financial Investment News

News Breaks
May 16, 2014
16:18 EDTCSCO, CHK, WWE, VMW, AMZN, JWN, VZ, HPQ, EMC, GOOG, JCP, RAX, RHTOn The Fly: Closing Wrap
Stocks on Wall Street were higher in the last session of the week, breaking their streak of two consecutive lower finishes. The averages moved back and forth across the flat line in the early hours of the session before crossing into positive ground for good in the late afternoon. Economic reports released early in the day were mixed, with housing starts growth coming in well above expectations and a consumer confidence reading coming in below the consensus forecast. ECONOMIC EVENTS: In the U.S., housing starts rose 13.2% to a 1.07M unit pace in April, which was well above expectations. The number of building permits issued also beat the consensus forecast, rising 8% to a pace of 1.08M. The University of Michigan consumer confidence index fell to 81.8 in the first May release, falling short of expectations for a modest rise to 84.3. COMPANY NEWS: Shares of Rackspace (RAX) advanced $5.44, or 17.73%, to $36.12 after the cloud computing company disclosed last night that it had been approached by a number of other companies that expressed interest in exploring strategic relationships. Rackspace said that it had hired Morgan Stanley (MS) to help evaluate the proposals and explore its options. In a note to investors earlier today, Credit Suisse wrote that Rackspace would be attractive to multiple companies, including Cisco (CSCO), Hewlett-Packard (HPQ), and Dell. Piper Jaffray said in its own note that the list of potential buyers for Rackspace is "extensive," also listing Cisco, but adding Google (GOOG), Amazon.com (AMZN), EMC (EMC), VMware (VMW) and Red Hat (RHT) as other potential suitors... Verizon (VZ) shares rose $1.11, or 2.31%, to $49.07 after filings released last night showed that a number of hedge fund managers, most notably Warren Buffet, had taken up new positions in the telecommunications giant. MAJOR MOVERS: Among the notable gainers was embattled retailer J.C. Penney (JCP), whose shares rose $1.36, or 16.25%, to $9.73 following its better than expected quarterly sales report. Also higher was luxury department store operator Nordstrom (JWN), which advanced $9.06, or 14.73%, to $70.55 after the company reported first quarter earnings per share that exceeded expectations and said it will seek a partner for credit card receivables. Among the noteworthy losers was WWE (WWE), which plunged $8.66, or 43.45%, to $11.27 after the company signed a new TV deal with NBC that will reportedly pay it much less than it had expected and the shares were downgraded at Benchmark Co. to Hold from Buy. Also lower were shares of Chesapeake Energy (CHK), which fell $1.35, or 4.66%, to $27.64 after announcing that it will spin off its Oilfield Services business, among other asset moves, and lowered its FY14 production, operating cash flow and dividend payments outlooks. INDEXES: The Dow was up 44.50, or 0.27%, to 16,491.31, the Nasdaq was up 21.29, or 0.52%, to 4,090.59, and the S&P 500 was up 7.01, or 0.37%, to 1,877.86.
News For RAX;VZ;WWE;JCP;JWN;CHK;GOOG;AMZN;CSCO;EMC;VMW;RHT;HPQ From The Last 14 Days
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August 21, 2015
12:13 EDTCSCOBrocade soars after Q3 results top estimates
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12:04 EDTHPQOn The Fly: Top stock stories at midday
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11:38 EDTAMZNAmazon.com heads back toward session lows
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11:13 EDTAMZNStocks with call strike movement; AMZN TWTR
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11:12 EDTGOOG, AMZNQualcomm reportedly to enter consumer drone market
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10:37 EDTHPQAnalysts upbeat on HP ahead of split after earnings beat
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10:34 EDTGOOGSamsung working on Android tablet with 18.4-inch display, Sam Mobile reports
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09:22 EDTHPQHP CEO says both companies will have over 50% shareholder return
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08:11 EDTGOOGDaimler AG could collaborate with Google, Apple, Reuters says
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07:47 EDTHPQHP should be bought at current levels, says Bernstein
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07:43 EDTHPQHP risk/reward remains favorable, says UBS
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07:32 EDTHPQHP guidance will likely leave stock flattish, says Brean Capital
Brean Capital noted HP beat Q2 earnings estimates but believes its guidance will likely leave the stock flattish. The firm expects ongoing PC consolidation, continued cost savings, and for HP to gain incremental traction in its go-forward Enterprises solutions and Services strategy. Brean Capital reiterated its Buy rating and $45 price target on HP shares.
07:26 EDTHPQHP results 'a net positive,' says Stifel
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07:16 EDTHPQHP didn't deliver bad news for first time in several quarters, says Citi
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07:05 EDTCHKChesapeake reports notice of proposed voluntary dismissal of derivative action
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06:49 EDTHPQHP enterprise portfolio being underappreciated, says Deutsche Bank
Deutsche Bank analyst Sherri Scribner says HP's Q3 results beat expectations while a shift in some earnings into the quarter from Q4 drove "modestly disappointing" guidance. While PCs are weak, HP's Enterprise Group "significantly outperformed expectations," Scribner tells investors in a post-earnings research note. The analyst believes the company's enterprise portfolio is being underappreciated by investors and that the upcoming split should be a positive for shares. She views HP's valuation as compelling and keeps a Buy rating on the stock with a $45 price target.
06:18 EDTGOOGGoogle's Brin says life sciences group to become standalone company
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06:01 EDTHPQ, GOOGABI Research: Portable PC sales to remain flat in 2015, DigiTimes says
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05:55 EDTGOOGGoogle building EUR150M data center in West Dublin, Independent.ie reports
Google is investing EUR150M to build a new data center in West Dublin, Ireland, Independent.ie reports. The first construction phase, which will create 400 jobs, is expected to be completed later this year. Reference Link
05:51 EDTHPQHP implied volatility of 40 at upper end of index
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