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Stock Market & Financial Investment News

News Breaks
January 17, 2014
06:08 EDTRCAPRCS Capital agrees to acquire J.P. Turner
RCS Capital announced that it has entered into an agreement to purchase J.P. Turner & Company, an independent brokerage and investment banking firm, and its affiliated investment advisory company, J.P. Turner & Company Capital Management. Following the acquisition, J.P. Turner will become part of the independent financial advisor network at RCAP and will complement and help to further diversify RCAP's revenue base, which presently is derived from its wholesale distribution business, investment banking and capital markets services activities, investment management work, and transaction management and transfer agency lines of business. The transaction is expected to close later in 2014 and is subject to certain regulatory approvals and filings and certain customary and other closing conditions, including completion by RCAP of its pending acquisition of Cetera Financial Holdings.
News For RCAP From The Last 14 Days
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December 19, 2014
10:35 EDTRCAPOptions with increasing implied volatility
Options with increasing implied volatility: ARCP RCAP GREK RSX A
07:31 EDTRCAPRCS Capital upside potential 'well' exceeds downside, says Citigroup
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05:24 EDTRCAPRCS Capital issues statement regarding recent market developments
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December 18, 2014
16:26 EDTRCAPOn The Fly: Closing Wrap
Stocks began the session sharply higher and remained that way for the entire session. The strength was attributed to investor enthusiasm over statements from the Fed about being patient in their approach to raising interest rates. Over the past couple of weeks the price of oil has often dictated the direction of equities, but that was not the case today as a drop in WTI and Brent crude was not followed by a dip in the equity averages. With year-end approaching, money managers may be chasing performance, but they also may be adjusting portfolio’s ahead of tomorrow’s quadruple witching, when market index futures, market index options, stock options, and stock futures all expire. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 6K to 289K in the week ended December 13, versus expectations for 295K first-time claims. Markit's flash December Services PMI reading came in at 53.6, which was below the consensus 56.3 forecast. The Philadelphia Fed survey of business conditions index drop to 24.5 in December from November's unexpectedly high 40.8 reading, though the steep pullback was in-line with the consensus forecast. The November index of leading economic indicators rose 0.6%, as expected. In Europe, U.K. retail sales including auto fuel increased 1.6% in November, widely topping economists' forecast for a 0.4% gain. Germany's Ifo business climate index advanced to 105.5 in December from 104.7 in the prior month, narrowly topping expectations. COMPANY NEWS: Oracle (ORCL) rallied $4.19, or 10.18%, to $45.35 after the company’s second quarter results surpassed consensus estimates. Analyst commentary was mixed, with research firms Canaccord and FBR Capital raising their price targets on the stock to $50 and $48, respectively, while JPMorgan said it expects consensus estimates for Oracle to be reduced and Oppenheimer said that it thinks the transition to the cloud is increasing pressure on the company's financial model and restraining EPS growth. MAJOR MOVERS: Among the notable gainers was OvaScience (OVAS), which rose $8.26, or 23.63%, to $43.22 after the company said it has achieved its 2014 corporate goals to advance its three fertility treatment options and its stock was upgraded to Outperform at Wedbush. Also higher was Tetraphase Pharmaceuticals (TTPH), which gained $4.81, or 14.49%, to $38.00 after a study of the company's eravacycline antibiotic met its primary endpoint and more than one research firm said the trial results make the company a more likely takeover target. Among the noteworthy losers was Silicon Image (SIMG), which dropped $1.84, or 27.3%, to $4.90 after the company warned it expects a year-over-year revenue decline in 2015 of about 10% due to a reduction in mobile design wins at one of its largest customers. Also lower were shares of RCS Capital (RCAP), which fell $1.81, or 15.39%, to $9.95 after its Executive Chairman of the Board, Nicholas Schorsch, was reportedly accused of directing two executives at American Realty Capital Properties (ARCP), where he was formerly the Chairman, to manipulate quarterly financial results. INDEXES: The Dow gained 421.28, or 2.43%, to 17,778.15, the Nasdaq advanced 104.08, or 2.24%, to 4,748.40, and the S&P 500 rose 48.34, or 2.4%, to 2,061.23.
15:46 EDTRCAPRCS Capital down over 15% after Schorsch accused of directing manipulation
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05:47 EDTRCAPRCS Capital resumed with an Overweight at Barclays
Target $20.
December 16, 2014
06:20 EDTRCAPRCS Capital upgraded to Buy from Neutral at Citigroup
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December 9, 2014
06:10 EDTRCAPRCS Capital announces November wholesales distribution sales
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