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Stock Market & Financial Investment News

News Breaks
February 16, 2014
06:56 EDTSFL, A, EWP, HUM, CRAY, MXIMHigh option volume stocks: SFL A EWP HUM CRAY MXIM
News For SFL;A;EWP;HUM;CRAY;MXIM From The Last 14 Days
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July 25, 2014
08:44 EDTMXIMMaxim Integrated downgraded at MKM Partners
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08:33 EDTMXIMMaxim Integrated consumer business poised to rebound, says BMO Capital
After Maxim Integrated reported weaker than expected Q4 results, BMO Capital nonetheless continues to believe that the company's consumer business should rebound as it ramps up newer product categories in the December quarter. The firm thinks the rest of the company's business is continuing to perform in-line with expectations. It cut its price target on the shares to $34 from $38 but keeps an Outperform rating.
07:35 EDTMXIMMaxim Integrated downgraded at MKM Partners
As previously reported, MKM Partners downgraded Maxim Integrated to Neutral from Buy. The firm downgraded shares citing limited demand catalysts for Mobility and lack of diversification. Price target is $30.
06:01 EDTMXIMMaxim Integrated downgraded to Neutral from Buy at MKM Partners
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July 24, 2014
18:45 EDTMXIMOn The Fly: After Hours Movers
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16:22 EDTMXIMMaxim Integrated raises quarterly dividend by 8% to 28c per share
A cash dividend of 28c per share will be paid on September 4, to stockholders of record on August 21. This represents an 8% increase in the dividend compared to the prior quarter.
16:22 EDTMXIMMaxim Integrated sees Q1 EPS ex-items 34c-40c, consensus 51c
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16:20 EDTMXIMMaxim Integrated reports Q4 EPS ex-items 43c, consensus 48c
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14:52 EDTMXIMMaxim Integrated technical remarks ahead of results
The stock has traded essentially flat on a returns basis for the prior three months, with the bulk of the trading range at $33 at the low to $35.50 at the high. The $35.76 level is the 52-week high, and on good news would likely be taken out on the upside. Resistance levels to watch as potential upside objectives on a breakout would be at $37.15, and then at $39.01. If the news fails to meet expectations, a break below the low of the three month range at the $31.50 area would break the recent uptrend recovery from the lows of the year, hit back in January. Support below $31.50 would be at $30.34, $28.87, and $27.74.
11:01 EDTAAgilent signs co-marketing agreement with MRM Proteomics
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07:16 EDTSFLShip Finance announces sale of 3 older VLCCs to Frontline
Ship Finance (SFL) announced that it has agreed to sell the 1999 built VLCCs Front Opalia, Front Comanche and Front Commerce to an unrelated third party. The company has simultaneously agreed to terminate the corresponding charter parties with a subsidiary of Frontline (FRO). The vessels are expected to be delivered to the new owners in the Q4 and Ship Finance expects to receive cash proceeds of approximately $77.5M, including approximately $10.5M upfront payment from Frontline. In addition, we will receive approximately $48.3M in 7.25% amortizing notes from Frontline. The amortization profile and maturity of the notes will match the current charters for the three vessels, with reduced rates until 2015 and full rates from 2016. Divesting of older vessels is a part of the company's strategy to renew and diversify the fleet, and the proceeds is expected to be reinvested in other assets. Following this sale, the number of vessels on charter to Frontline will be reduced to 17 vessels, including 12 VLCCs and five Suezmax crude oil carriers.
07:14 EDTSFLFrontline announces termination of charter-in contracts of VLCCs
Frontline (FRO) has agreed with Ship Finance International (SFL) to terminate the long term charter parties for the 1999 built VLCCs Front Opalia, Front Comanche and Front Commerce and Ship Finance has simultaneously sold the vessels to unrelated third parties. The charter parties are expected to terminate in Q4. The decision to terminate the long term charter parties was taken in view of the required investment to take the vessels through the 15 year special survey. Frontline has agreed an aggregate compensation payment to Ship Finance of approximately $58.8M for the early termination of the charter parties, of which approximately $10.5M will be paid upon termination and the balance will be recorded as notes payable, with similar amortisation profiles to the current lease obligations, with reduced rates until December 2015 and full rates from 2016. As of June 30, the company has capital lease obligations to Ship Finance of $101.5M and $608.3M for these three vessels and the remaining 12 VLCCs and five Suezmax tankers, respectively.
06:50 EDTHUMConsumers received $9B in refunds from health insurers, The Hill says
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July 22, 2014
13:46 EDTHUMCourt upholds Obamacare subsidies, NY Times says
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10:43 EDTHUMAppeals court bars subsidies in health care law
A three-judge panel of the D.C. Circuit Court of Appeals struck down part of President Obama's healthcare law by siding today with plaintiffs who argued that the law barred the government from giving subsidies to people in states that chose not to set up their own insurance marketplaces. The appeals court stated, "Because we conclude that the ACA unambiguously restricts the section 36B subsidy to insurance purchased on Exchanges 'established by the State,' we reverse the district court and vacate the IRSís regulation." Twenty-seven states decided against setting up marketplaces, and another nine states partially opted out, according to the Washington Post.
July 21, 2014
08:41 EDTMXIMMaxim Integrated Q1 guidance likely to beat expectations, says Pacific Crest
Pacific Crest expects Maxim's Q1 EPS guidance to surpass expectations, driven by increased revenue from Apple's (AAPL) iPhone 6 and iWatch. The firm recommends buying the stock, as it thinks the shares have a number of positive catalysts including content share gains in mobility and increasing automotive revenue exposure. The firm keeps a $44 price target and Outperform rating on the shares.
July 17, 2014
06:20 EDTAAgilent initiated with a Neutral at Citigroup
Target $64.
July 16, 2014
05:48 EDTCRAYCray awarded contract to install India's first Cray XC30 Supercomputer
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July 15, 2014
10:00 EDTMXIMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Adecogro (AGRO) downgraded to Underperform from Neutral at BofA/Merrill... Campbell Soup (CPB) downgraded to Sell from Neutral at Goldman... Credicorp (BAP) downgraded to Neutral from Overweight at JPMorgan... El Paso Pipeline (EPB) downgraded to Neutral from Buy at Citigroup... Kellogg (K) downgraded to Sell from Neutral at Goldman... Kodiak Oil & Gas (KOG) downgraded to Market Perform from Outperform at BMO Capital... Lexmark (LXK) downgraded at Bernstein... Maxim Integrated (MXIM) downgraded to Equal Weight from Overweight at Barclays... Republic Airways (RJET) downgraded to Underperform from Neutral at BofA/Merrill... Sasol (SSL) downgraded to Neutral from Buy at Citigroup... Time Warner (TWX) downgraded to Equal Weight from Overweight at Evercore.
05:28 EDTMXIMMaxim Integrated downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Maxim Integrated to Equal Weight citing limited upside to estimates and the move higher in shares since its upgrade. The firm keeps a $35 price target for the stock.
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