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Stock Market & Financial Investment News

News Breaks
December 21, 2012
16:34 EDTSPW, NKE, PNK, GDI, RHT, YUM, HLF, ASCA, RIMMOn The Fly: Closing Wrap
Stocks on Wall Street were lower on the day, after news last night out of Washington indicated that House Speaker Boehner's 'Plan B' failed to garner enough support for passage in the House, leaving the fiscal cliff unresolved as lawmakers head home for Christmas. Light volume in the markets saw the averages trade in a narrow range following the morning's selloff... ECONOMIC EVENTS: Reports showed U.S. personal income rose 0.6% in November, versus the expected increase of 0.3%. Consumer spending climbed 0.4% in the month, which matched expectations. Durable goods orders rose 0.7% in November, versus the expected increase of 0.3%. Excluding transportation items, orders jumped 1.6%, versus the expected decline of 0.2%. The final University of Michigan Consumer Confidence reading for December was revised down to 72.9 from a prior 74.5 reading. Analysts called for it to rise slightly to 75.0... COMPANY NEWS: After yesterday's close, Research in Motion (RIMM) reported Q3 revenue that beat consensus estimates and quarterly losses that were not as steep as feared, though the company said on its conference call that it plans to introduce a lower enterprise service tier, which multiple Wall Street analysts said may cut into one of its highest margin revenue streams. Shares of RIM opened higher in yesterday's after hours session, but quickly reversed and the weakness continued into today's trading, eventually closing down $3.21, or 22.73%, to $10.91...Yum! Brands (YUM) saw shares down $2.61, or 3.93%, to $63.88, the stock's third straight day of losses following reports that Chinese authorities were testing chicken suspected to have contained an antiviral medicine... MAJOR MOVERS: Among the notable gainers were Pinnacle Entertainment (PNK) and Ameristar Casinos (ASCA), which both rose after Pinnacle agreed to purchase Ameristar for $26.50 per share, or $2.8B. Shares of Pinnacle gained $2.85, or 21.35%, to $16.20 on the news, while Ameristar gained $4.43, or 20.07%, to $26.50. Also higher following earnings reports were Nike (NKE), up $6.10, or 6.16%, to $105.10, and Red Hat (RHT), up $2.38, or 4.52%, to $54.99. Among the noteworthy losers were shares of Herbalife (HLF), down $6.43, or 19.08%, to $27.27 as the company's public fight with Bill Ackman intensifies. Also lower were shares of Gardner Denver (GDI), down $8.14, or 10.78%, to $67.40 after a Reuters report said the company's takeover talks with SPX Corp. (SPW) fell through... INDICES: The Dow was down 120.88, or 0.91%, to 13,190.84; the S&P was down 13.54, or 0.94%, to 1,430.25; the Nasdaq was down 29.38, or 0.96%, to 3,021.01.
News For RIMM;YUM;PNK;ASCA;RHT;NKE;HLF;GDI;SPW From The Last 14 Days
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August 24, 2015
09:45 EDTNKEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Bristol-Myers (BMY) upgraded to Neutral from Underweight at Piper Jaffray... Chevron (CVX) upgraded to Neutral from Underperform at BofA/Merrill... Abercrombie & Fitch (ANF) upgraded to Overweight from Neutral... Nike (NKE) upgraded to Outperform from Market Perform at Telsey Advisory... DreamWorks (DWA) upgraded to Buy from Neutral at B. Riley... Caesarstone (CSTE) upgraded to Overweight from Equal Weight at Barclays... TransAlta (TAC) upgraded to Outperform from Market Perform at BMO Capital... Sarepta (SRPT) upgraded to Overweight from Neutral at Piper Jaffray... AutoZone (AZO) upgraded to Buy from Neutral at BofA/Merrill... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Jefferies... Allscripts (MDRX) upgraded to Buy from Hold at Argus... China Unicom (CHU) upgraded to Buy from Hold at Jefferies... Ross Stores (ROST) upgraded to Buy from Neutral at Buckingham.
06:20 EDTNKENike upgraded to Outperform from Market Perform at Telsey Advisory
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August 19, 2015
16:58 EDTYUMOn The Fly: Top stock stories for Wednesday
The market opened deep in negative territory after a tumultuous trading session in China and a softer than expected U.S. consumer prices report. Sellers continued to push the averages lower throughout the morning, with the Dow tacking on losses of more than 200 points as investors waited for the release of the Fed minutes. The market rallied following an early leak of the minutes, which suggested officials are getting closer to raising rates but appear to be waiting for additional data. Despite the afternoon rally, the averages sold off once again heading into the close, leaving all three indices in the negatives for Wednesday. ECONOMIC EVENTS: In the U.S., the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%. There were no revisions to the 0.3% headline gain in June or the 0.2% growth in the ex-food and energy component. Component gains were muted across the board, with Energy prices up just 0.1% in July. Meanwhile, FOMC minutes showed no definitive indication of a September rate hike. Most committee members "judged that the conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point." Other members, however, believed that the inflation outlook "might not soon meet one of the conditions... for initiating a firming of policy." COMPANY NEWS: Shares of Dot Hill Systems (HILL) soared $4.50, or 86.87%, to $9.68 after Seagate Technology (STX) agreed to acquire the company for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016. Shares of the hard drive giant fell 5.03% to $49.43 for the session... Lowe's (LOW) shares saw gains of $1.34, or 1.84%, to $74.36 following the company's earnings report this morning, while Target (TGT) rose $59c, or 0.73%, to $80.89 after beating on both top and bottom lines. On a subsequent conference call, Target executives forecast a "choppy" competitive environment in Q3, though they added that the company "will not get beat" on promotions in Q4. Separately, American Eagle (AEO) lost 7.42% to $16.92 after its quarterly numbers. MAJOR MOVERS: Among the notable gainers were Palatin (PTN) and Apricus (APRI), showing respective advances of 3.19% and 7.89% after the FDA approved Sprout's female sexual dysfunction drug Addyi, with the agency remarking that it "continues to encourage drug development in this area." Note that both Palatin and Apricus are developing their own treatments in the space, and Apricus reaffirmed this morning its intent to seek a global partner as it advances its Femprox sexual dysfunction medication. Also higher was Yum! Brands (YUM), which gained $1.90, or 2.26%, to $86.10 after appointing a new CEO of its China division, adding that its same-store sales in the region "have turned significantly positive." Among the noteworthy losers was Rayonier Advanced Materials (RYAM), plunging $6.01, or 44.09%, to $7.62 after disclosing a legal battle with its customer Eastman Chemical (EMN) over "meet or release" contract stipulations which may impact Eastman's purchase obligations. Also lower was Caesarstone (CSTE), which lost $3.43, or 7.14%, to $44.61 after short-selling hedge fund Spruce Point said the stock has up to 75% downside due to heightened raw material costs and competitive concerns, among other factors. Separately, EOG Resources (EOG), Baytex Energy (BTE), and Vanguard Natural (VNR) saw respective losses of 4.15%, 15.53%, and 13.83% after WTI crude fell 5.02% for the session. INDEXES: The Dow declined 162.61, or 0.93%, to 17,348.73, the Nasdaq fell 40.30, or 0.80%, to 5,019.05, and the S&P 500 lost 17.31, or 0.83%, to 2,079.61.
13:23 EDTYUMOptions with increasing call volume
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10:23 EDTYUMYum! gets a boost from China CEO change, sales commentary
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09:19 EDTYUMYum! Brands leadership change positive, says Bernstein
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August 18, 2015
18:32 EDTYUMOn The Fly: After Hours Movers
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16:34 EDTYUMYum! Brands appoints Micky Pant CEO of China Division
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August 17, 2015
10:55 EDTYUMOptions with increasing implied volatility
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09:45 EDTSPWSPX Corp. announces board members for SPX Corp, SPX FLOW
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07:39 EDTRHTTMC to hold a conference
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August 14, 2015
17:37 EDTSPWRelational Investors gives quarterly update on stakes
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16:44 EDTYUMThird Point gives quarterly update on stakes
NEW STAKES: Baxter (BAX), T-Mobile (TMUS), Sealed Air (SEE), Devon (DVN), and Perrigo (PRGO). INCREASED STAKES: SunEdison (SUNE), Dow Chemical (DOW), Mohawk (MHK), Yum! Brands (YUM), and IAC/InterActiveCorp (IACI). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Sensata (ST), Masco (MAS), and Delta (DAL). LIQUIDATED STAKES: Dollar General (DG), McKesson (MCK), Edgewell Personal Care (EPC), Maxim (MXIM), and FleetCor (FLT).
10:33 EDTYUMOptions with increasing implied volatility
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07:37 EDTYUMJANA reports new stakes in Allergan, TWC, sells Applied Materials
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August 13, 2015
11:10 EDTYUMYum! Brands advances after analysts say recent decline overdone
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10:53 EDTYUMOptions with increasing implied volatility
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08:41 EDTYUMYum! Brands sell-off overdone, says Bernstein
Bernstein says that the 8% sell-off in Yum's stock since China began devaluing its currency implies that the yuan will lose 20% of its value. According to Bernstein, that is more of a drop than any worst case scenario that has been articulated. Bernstein keeps a $109 price target and Outperform rating on the shares.
08:05 EDTYUMYum! Brands outlook still positive, says Oppenheimer
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05:50 EDTYUMStocks with implied volatility movement; EFA YUM
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