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Stock Market & Financial Investment News

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March 11, 2014
12:16 EDTJOSB, SAP, MYGN, FCEL, T, S, MW, ORCL, AEO, BYD, VZ, WDAY, JIVE, URBN, AAPL, TMUSOn The Fly: Midday Wrap
Stocks on Wall Street continued searching for direction near midday, after having spent time about equal time just above and just below the flat-line in the early hours of the session. The averages drifted lower and fell into negative ground near noon, but generally have been range in a band around where they ended yesterday. ECONOMIC EVENTS: In the U.S., wholesale inventories rose 0.6% in January, beating expectations for an increase of 0.4%. The NFIB small business optimism index for February fell to 91.4, which was a worse than expected drop from its prior 94.1 reading. The JOLTS report showed job openings rebounded 60K in January to 3.97M. COMPANY NEWS: Softbank (SFTBF) CEO and Sprint (S) Chairman Masayoshi Son confirmed his interest in buying T-Mobile (TMUS) in a number of television interviews, though clearly noted that he has no formal agreement with T-Mobile and that "steps and details" would have to be worked out if a deal were to move forward. Analysts at Wells Fargo think Son is undertaking a "targeted and very purposeful" public relations effort to help make Sprint's case to purchase T-Mobile and believe his comments regarding a "massive price war" if Sprint was given clearance to pursue a merger could pressure shares of AT&T (T) and Verizon (VZ). Shares of both of the incumbent U.S. wireless leaders were down about 1% at midday as Son's public relations tour continues with an event planned in Washington, D.C... Shares of Apple (AAPL) climbed over 1% after research firm Pacific Crest upgraded the tech giant in a note to investors earlier today, citing the opportunity for a 4.7 inch iPhone 6 to increase Apple's gross profit. A number of media outlets have reported that Apple will release a larger screen iPhone this year, but the company has not confirmed the reports... Another name that spiked near midday was Jive Software (JIVE), which jumped after Re/code said the company has explored a sale in recent months, though the report added that Oracle (ORCL), SAP (SAP) and Workday (WDAY) each passed on making a bid. Shares were off their earlier highs but remained up about 5% near noon... Suit retailers Men's Wearhouse (MW) and Jos. A. Bank (JOSB) ended their long and public courtship as Men's Wearhouse struck a deal to acquire its peer for $65 per share in cash. MAJOR MOVERS: Among the notable gainers was Boyd Gaming (BYD), which jumped more than 16% after activist hedge fund Elliott Associates disclosed a stake in the casino operator. Also higher was alternative energy company FuelCell (FCEL), which rose nearly 15% following its quarterly earnings report. Among the noteworthy losers was Myriad Genetics (MYGN), which fell about 10% after a judge denied the company's motion for preliminary injunctive relief against rival Ambry Genetics. Also lower following their earnings reports and cautious commentary about the current environment were mall-based clothing retailers Urban Outfitters (URBN), which slid over 4%, and American Eagle (AEO), which dropped more than 5%. INDEXES: Near midday, the Dow was down 37.08, or 0.23%, to 16,381.60, the Nasdaq was down 3.20, or 0.07%, to 4,331.25, and the S&P 500 was down 4.88, or 0.26%, to 1,872.29.
News For S;TMUS;VZ;T;AAPL;BYD;FCEL;URBN;AEO;MYGN;JIVE;ORCL;SAP;WDAY;MW;JOSB From The Last 14 Days
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February 17, 2015
10:31 EDTAAPLApple rises as analysts applaud reported auto ambitions
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09:58 EDTVZVerizon says 'pleased' with 181 spectrum licenses acquired for $10.4B
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09:40 EDTAAPLActive equity options trading on open
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09:19 EDTTDocument Security files patent infringement claims against Intel, others
DSS Technology Management, a subsidiary of Document Security (DSS), announced the filing of a patent infringement lawsuit against the Intel (INTC); Dell; GameStop (GME); Conn's Inc. (CONN) and Conn Appliances; NEC Corporation of America; Wal-Mart Stores (WMT) and Wal-Mart Stores Texas, and AT&T (T) in the United States District Court for the Eastern District of Texas, Tyler Division. DSS's complaint alleges infringement by Intel, Dell, GameStop (GME), Conn's, NEC, Wal-Mart, and AT&T of US Patents 5,965,924 and 6,784,552, which relate to semiconductor manufacturing.
07:32 EDTAAPLApple asking suppliers to make 5M-6M Apple Watches in Q1, WSJ says
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07:28 EDTAAPLApple design chief working on store redesign ahead of Watch, New Yorker says
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07:22 EDTAAPLMitsubishi UFJ to hold a tour
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07:15 EDTAAPLApple foray into autos would be logical, says Barclays
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07:08 EDTAAPLAuto market could be meaningful for Apple, says Cantor
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06:15 EDTTMUS, VZCiti sees three options for DISH, including sale to Verizon
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February 16, 2015
19:13 EDTTLiberty Global may become takeover target, NY Times says
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17:24 EDTORCLFIS, Oracle among those exploring Monitise bid, Sky News reports
FIS (FIS) is among the U.S. companies considering a takeover bid for Monitise, the UK mobile banking software manufacturer which put itself up for sale last month, Mark Kleinman of Sky News reports. Other possible bidders include Oracle (ORCL) and IBM (IBM), Kleinman added. He pointed out that all of the takeover discussions are said to be at an early stage. Reference Link
February 15, 2015
16:44 EDTAAPLApple Watch could increase revenue by 10% next year, Barron's says
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07:47 EDTAAPLHope of car positive for Apple shares, says Piper Jaffray
Piper Jaffray analyst Gene Munster said in a note to investors yesterday that the potential for a car gives investors something to look at as "the next big thing" for Apple. Munster believes the Wall Street Journal's report that Apple is building an electric car will help support the stock over the next six months. He believes it is unlikely that the company launches anything in the next five years, however. Munster reiterated an Overweight rating on Apple with a $160 price target. The stock closed Friday up 62c to $127.08.
07:46 EDTAAPLApple working on minivan-like electric vehicle, WSJ reports
Apple has "several hundred" employees working secretly toward creating an Apple-branded electric vehicle, Wall Street Journal reported yesterday, citing people familiar with the matter. The project is known internally as "Titan" and has a design that resembles a minivan, the Journal added. The Financial Times reported yesterday that the iPhone maker is recruiting experts in automotive technology and vehicle design. Reference Link
February 13, 2015
13:56 EDTAAPLApple working on car technology in secretive lab, FT says
Apple, which often investigates wide ranging product areas, has been recruiting automotive technology and vehicle design experts who are at work in a confidential Silicon Valley location near the company’s Cupertino campus, Financial Times reported, citing people familiar with the matter. Reference Link
08:43 EDTAAPLApple price target raised to $135 from $130 at BMO Capital
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07:32 EDTTAT&T and SunEdison to deliver 677 kilowatt solar system in Texas
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06:14 EDTAAPLTSMC transfers more peripheral IC orders to Vanguard, DigiTimes reports
TSMC (TSM) has transferred more orders for peripheral ICs for use in Apple's (AAPL) mobile devices to Vanguard International, reports DigiTimes. According to industry sources, Vanguard has already entered Apple's supply chain by providing TSMC 8-inch production capacity for power management IC orders placed by Dialog Semiconductor. Reference Link
05:53 EDTAAPLApple price target raised to $150 from $130 at UBS
UBS analyst Steven Milunovich raised his price target for Apple shares to $150 from $130 citing the tech giant's "expanding ecosystem." Milunovich believes services based on Apple's operating system, such as Apple Pay, Car Play, HomeKit, and HealthKit, will play key role in extending Apple's reach. He believes Apple is evolving into a "platform company" from a "device company" and that this transition may bring the iPhone maker's market capitalization to $1T. Milunovich has a Buy rating on Apple. The stock closed yesterday up $1.58 to $126.46, representing a market cap of $739B.
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