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Stock Market & Financial Investment News

News Breaks
March 4, 2014
12:59 EDTMDR, RSH, VIPS, CLF, QCOMOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, as the S&P 500 rebounded from yesterday's loss, which was its biggest in a month. Investors were relived and stepped back in to buy after Russian President Vladimir Putin said there’s no immediate need to send troops to Ukraine. The lone economic report of any significance, the ISM report for the New York region, fell from its prior reading but the decline was explained away due to the harsh winter weather. The market rebound could be short lived, however, with the situation in Ukraine not fully resolved by any means. ECONOMIC EVENTS: In the U.S., the New York region ISM reading for February fell to 57.0 from last month's 64.4 figure. COMPANY NEWS: Shares of electronic retailer RadioShack (RSH) dropped 14% after the company reported greater than expected losses during its fourth quarter and announced that it plans to close up to 1,100 of its stores this year in the U.S. The company said its fourth quarter comparable store sales were down 19% and its overall fourth quarter results were driven by a holiday season characterized by lower store traffic, intense promotional activity particularly in consumer electronics, a very soft mobility marketplace and a few operational issues. However, the The company also stated that it is not considering a pre-packaged bankruptcy and it has ample liquidity to meet its obligations. MAJOR MOVERS: Among the notable gainers was Chinese online discount retailer Vipshop (VIPS), which soared 30% after the company's fourth quarter results and first quarter guidance easily surpassed expectations. Also higher was semiconductor chip maker Qualcomm (QCOM), which advanced nearly 4% after raising its quarterly dividend by 20% and increasing its share repurchase authorization by $5B. Among the noteworthy losers was Cliffs Natural Resources (CLF), which dropped 2.5% after the stock was downgraded to Underperform from Market Perform at Wells Fargo. Also lower was energy industry services provider McDermott (MDR), which slid over 9% after reporting a quarterly loss of $1.37 a share and suspending guidance for the “foreseeable future” as it undergoes significant changes. Both Capital One and Stephens downgraded McDermott shares following the report. INDEXES: Near 1 pm ET, the Dow was up 215.00, or 1.33, to 16,383.03, the Nasdaq was up 75.80, or 1.77%, to 4,353.10, and the S&P 500 was up 25.86, or 1.4%, to 1,871.59.
News For RSH;QCOM;VIPS;MDR;CLF From The Last 14 Days
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December 16, 2014
09:36 EDTCLFActive equity options trading
Active equity options trading according to Track Data: AAPL AMZN C TSLA PBR TWTR NFLX JPM CLF ABX
06:02 EDTQCOMStocks with implied volatility below IV index mean; QCOM CBST
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December 12, 2014
16:25 EDTRSHRadioShack files to sell 150,000 convertible preferred shares
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06:32 EDTQCOMQualcomm commits to invest $40M into Chinese companies
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December 11, 2014
09:31 EDTRSHRadioShack says faces 'signficant challenges' from some lenders on restructuring
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09:24 EDTRSHRadioShack says working to reduce mobile chargebacks
RadioShack says it is changing its incentives to motivate its sales force.
09:16 EDTRSHOn The Fly: Pre-market Movers
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09:13 EDTRSHRadioShack sees bringing marketing spending more in line with peers
RadioShack says marketing spending was curtailed during quarter with no visible impact on store results. Comments from Q3 earnings conference call.
07:04 EDTRSHRadioShack said it began cost reduction initiatives to enhance earnings by $400M
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07:03 EDTRSHRadioShack reports Thanksgiving holiday US retail comparable store sales up 35%
Reports Thanksgiving holiday US mobility comparable sales down 27%.
07:02 EDTRSHRadioShack: Retail segment comparable store sales down 2%
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07:01 EDTRSHRadioShack reports Q3 EPS ($1.58), consensus ($1.04)
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06:32 EDTQCOMGlobalfoundries hope to win orders from Qualcomm and Apple, DigiTimes reports
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06:06 EDTQCOMQualcomm cutting 600 jobs worldwide, CNet reports
A Qualcomm spokesperson has confirmed that the company is planning to cut 600 jobs globally, with around half the cuts coming in California, CNet reports. The spokesperson notes that the layoffs are not related to ongoing investigations in the U.S., China and the EU, commenting that the layoffs are "focused on specific projects and programs and reflects current business priorities." Reference Link
December 10, 2014
15:25 EDTRSHNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Lululemon (LULU), consensus 38c; RadioShack (RSH), consensus ($1.04); Ciena (CIEN), consensus 13c; Methode Electronics (MEI), consensus 55c.
10:24 EDTRSHSprint retreats after Oppenheimer cuts rating to Underperform amid price war
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09:12 EDTRSHRadioShack threatens bankruptcy if cell phone deals not reworked, NY Post says
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December 8, 2014
07:51 EDTRSHRadioShack denies claims of default under $250M credit agreement
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07:31 EDTQCOMQualcomm announces collabration with vitaphone e-health solutions
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December 7, 2014
17:43 EDTRSHRadioShack looks to amend terms of loan from Salus, Bloomberg says
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