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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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November 19, 2014
10:29 EDTQCOMQualcomm reaffirms FY15 EPS view $5.05-$5.35, consensus $5.22
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10:21 EDTVIPSVipshop drops on outlook, levels to watch
The company reported a beat on Q3 yesterday after the close, but offered guidance that disappointed traders. At the current price of $21.25 the stock is down over 10.2%. Support is at $20.59, the low of the day, and then at $20. Resistance is at $21.92, the session high.
10:10 EDTCLFCliffs Natural only has nominal value at $85/mt iron ore, says CRT Capital
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09:53 EDTCLFCliffs Natural price target lowered to $4 from $8 at Brean Capital
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09:16 EDTVIPSOn The Fly: Pre-market Movers
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06:27 EDTCLFCliffs Natural to pursue exit options for Eastern Canadian iron ore operations
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November 18, 2014
18:23 EDTVIPSOn The Fly: After Hours Movers
UP AFTER EARNINGS: La-Z-Boy (LZB), up 4.7% after reporting second quarter results and dividend increase... Jack in the Box (JACK), up 2.7%... PetSmart (PETM), up 1.9%. ALSO HIGHER: Popeyes Louisiana Kitchen (PLKI), up 1.6% after Red Mountain Capital Partners reported a 5.1% stake in the company. DOWN AFTER EARNINGS: Vipshop Holdings (VIPS), down 4.6%. ALSO LOWER: Cloud Peak (CLD), down 1.7% after filing to sell $100M of mandatory convertible preferred stock.
17:52 EDTRSHRadioShack loan from Monarch off table, Bloomberg says
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16:42 EDTVIPSVipshop down almost 3.5% to $22.90 after reporting Q3 results, guidance
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16:03 EDTVIPSVipshop sees Q4 revenue $1.2B-$1.22B, consensus $1.21B
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16:02 EDTVIPSVipshop reports Q3 EPS 8c, consensus 7c
Reports Q3 revenue $882.6M, consensus $863.12M.
15:46 EDTVIPSVipshop November 22 straddle priced for 9.6% move into Q3
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15:21 EDTVIPSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Vipshop Holdings (VIPS), consensus 7c; M/A-Com Technology (MTSI), consensus 33c; La-Z-Boy (LZB), consensus 34c; PetSmart (PETM), consensus 94c; Jack in the Box (JACK), consensus 53c.
14:14 EDTRSHRadioShack loan talks with Monarch hedge fund ended, Bloomberg reports
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14:01 EDTVIPSVipshop November volatility elevated into Q3 and outlook
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13:28 EDTCLFIron ore, steel stocks lower after iron ore prices, China home prices decline
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06:04 EDTQCOMQualcomm to host analyst meeting
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November 17, 2014
13:57 EDTQCOMQualcomm volatility flat into analyst meeting
Qualcomm November call option implied volatility is at 22, December and January is at 20, February is at 21; compared to its 26-week average of 21 according to Track Data, suggesting non-directional price movement into a company sponsored analyst meeting on November 19
November 14, 2014
15:04 EDTVIPSVipshop November volatility elevated into Q3 and outlook
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12:53 EDTQCOMOmega Advisors gives quarterly update on stakes
NEW STAKES: AerCap Holdings (AER), Nordic American Offshore (NAO), Melco Crown Entertainment (MPEL), Groupon (GRPN), and Ashland (ASH). INCREASED STAKES: QEP Resources (QEP), United Continental (UAL), Cabot Oil & Gas (COG), Actavis (ACT), and KAR Auction Services (KAR). DECREASED STAKES: Sprint (S), SandRidge Energy (SD), Sirius XM Holdings (SIRI), Kinder Morgan (KMI), and Transocean (RIG). LIQUIDATED STAKES: QUALCOMM (QCOM), Ocwen Financial (OCN), Freeport-McMoRan (FCX), Boston Scientific (BSX), and Capital One (COF).
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