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Stock Market & Financial Investment News

News Breaks
February 19, 2013
19:11 EDTNRF, TEX, NTSP, MDRX, BHP, MM, DMD, SINA, TSS, LLNW, GDOT, LZBOn The Fly: After Hours Movers
UP AFTER EARNINGS: SINA (SINA), up 6.1%... Allscripts (MDRX), up 5.7%... La-Z-Boy (LZB), up 10.6%... ALSO HIGHER: Demand Media (DMD), up 14.8% after Q4 results and saying it is exploring separating its businesses into two independent, publicly-traded companies... NetSpend Holdings (NTSP), up 30% after announcing an agreement to be acquired by Total System (TSS) for $16 per share. Green Dot (GDOT), which competes with NetSpend in the general purpose reloadable debit card market also gained 12.5% in after hours trading... DOWN AFTER EARNINGS: Millennial Media (MM), down 26%... Terex (TEX), down 6.3%... Limelight Networks (LLNW), down 7.5%... ALSO LOWER: BHP Billiton (BHP), down 0.4% after announcing its CEO will retire in May... Northstar Realty (NRF), down 3% after announcing offering of 30M shares of common stock...Total System (TSS), down 1.8% after announcing an agreement to acquire NetSpend for $16 per share.
News For SINA;MDRX;LZB;DMD;NTSP;GDOT;MM;TEX;LLNW;BHP;NRF;TSS From The Last 14 Days
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April 17, 2014
11:49 EDTSINAWeibo IPO indicated to open $16.50
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11:47 EDTSINAWeibo IPO indicated to open $16.80
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11:42 EDTSINAWeibo IPO indicated to open $17.00
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11:36 EDTSINAWeibo IPO indicated to open $17.20
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08:03 EDTSINASINA shares undervalued, says Stifel
After conducting a sum of the parts analysis of SINA following the IPO of Weibo, Stifel believes that, based on the company's current stock price, its core portal business and investments in Alibaba Group and 9158.com are being given a negative valuation. The firm notes that SINA's portal business generates estimated annual adjusted EBITDA of about $175M. Stifel lowered its price target on the stock to $80 from $100 and keeps a Buy rating on the stock.
07:20 EDTSINAWeibo grosses $285.6M in IPO with low-end pricing, Bloomberg says
Weibo, the Chinese microblogging service owned by Sina (SINA) and Yahoo's (YHOO) Alibaba, grossed $285.6M in its U.S. IPO after pricing the shares on the lower-side of a marketed range, reported Bloomberg. Reference Link
07:06 EDTBHPBHP could benefit from rebound not spinoffs amid metal slump, Bloomberg says
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April 16, 2014
16:22 EDTLZBLa-Z-Boy to restructure casegoods business, will take charge of $13M-$15M
La-Z-Boy announced it will restructure its casegoods business, which represents approximately 10% of revenue, by transitioning to an all-import model for its wood furniture. To accomplish the restructuring: During the second quarter of fiscal 2015, La-Z-Boy will discontinue casegoods production at its Hudson, North Carolina facility...The company will also exit the hospitality business as that furniture is also manufactured at the Hudson facility. The company will market for sale its youth furniture business, Lea Industries, as it does not align with the company's long-term strategic objectives. La-Z-Boy will consolidate and transition its warehouse and repair functions from its two North Wilkesboro, North Carolina facilities to Hudson. Kurt L. Darrow, Chairman, President and CEO of La-Z-Boy Incorporated, said, "After careful analysis and much consideration, we made the difficult decision to transition our casegoods operation to become solely an importer of wood furniture. We have implemented many changes to our casegoods manufacturing model over the past few years to be more competitive. However, in the final analysis, we determined we cannot generate enough domestic volume to support the size facility we operate in North Carolina and believe this move will strengthen our positioning and performance in the segment." As a result of the restructuring, La-Z-Boy will take pre-tax charges in the range of $13M to $15M, or 15c to 17c per share after tax, of which approximately 75% is expected to be non-cash. The majority of these charges will be incurred in the fourth quarter of the company's 2014 fiscal year and the remainder taken in the first half of fiscal 2015. In addition, the Lea business will be reported as discontinued operations commencing with Q414.
09:03 EDTMDRXAllscripts should see core business stability, says RW Baird
Baird said recent restructuring actions and strong bookings at Allscripts will lead to predictable P&L performance and help narrow its valuation discount to its peers. The firm maintains an Outperform rating and $23 price target on Allscripts.
April 15, 2014
18:57 EDTBHPBHP Billiton reports Q3 total petroleum production up 10%
BHP Billiton reported total petroleum production for Q3 was up 10% over the prior year, with production for the nine months ended March 31 totaling 181.3 MMBoe. The company also lowered its FY14 production guidance to 245 MMboe, citing lower gas and natural gas liquids production in the Hawkville area of the Eagle Ford. BHP reported Q3 copper production fell 5%, with total copper production increasing 2% to 1.3 Mt for the nine months ended March 31. BHP reiterated its copper production guidance for FY14 of 1.7 Mt. BHP also reported Q3 iron ore production increased 23%, with production for the nine months ended March 31 growing 21% to 147,387 kt. BHP expects FY14 iron ore production to total 197 Mt.
13:27 EDTSINASina's Weibo not likely to have same debut share increase as Twitter, FT says
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11:44 EDTBHPPotash Corp. advances after report says BHP could make new bid
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10:00 EDTMDRXOn The Fly: Analyst Initiation Summary
Allscripts (MDRX) reinstated with an Outperform at Raymond James... Amber Road (AMBR) initiated with a Buy at Canaccord... Autonation (AN) coverage assumed with a Market Perform at Wells Fargo... BG Group (BRGYY) initiated with an Outperform at BMO Capital... Borderfree (BRDR) initiated with a Buy at Canaccord... Dean Foods (DF) initiated with a Buy at BB&T... Destination XL (DXLG) initiated with a Buy at Ascendiant... Group 1 Automotive (GPI) coverage assumed with a Market Perform at Wells Fargo... Halozyme (HALO) initiated with a Buy at Citigroup... MakeMyTrip (MMYT) initiated with a Neutral at Goldman... Penske Automotive (PAG) coverage assumed with a Market Perform at Wells Fargo... RPM (RPM) initiated with an Outperform at Wells Fargo... RSP Permian (RSPP) initiated with a Buy at KLR Group... Repligen (RGEN) initiated with a Buy at Jefferies... Spansion (CODE) initiated with a Buy at Sterne Agee... Statoil (STO) initiated with a Market Perform at BMO Capital... TPG Specialty Lending (TSLX) initiated with a Buy at BofA/Merrill... Versartis (VSAR) initiated with a Buy at Citigroup... WWE (WWE) initiated with a Buy at Needham... WebMD (WBMD) reinstated with a Strong Buy at Raymond James.
09:16 EDTBHPOn The Fly: Pre-market Movers
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07:46 EDTBHPPotash Corp. speculated to be targeted again by BHP Billiton, Globe & Mail says
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April 14, 2014
16:51 EDTMDRXAllscripts reinstated with an Outperform at Raymond James
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April 11, 2014
09:13 EDTSINAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Fastenal (FAST), up 3%... Wells Fargo (WFC), up 0.2%. ALSO HIGHER: H&R Block (HRB), up 5% after announcing a deal for BofI (BOFI) to acquire H&R Block's bank assets. Bofi up 9.4% after the deal announcement... Zynga (ZNGA), up 1.7% after naming new CFO, shares upgraded to Equal Weight at Morgan Stanley... SINA (SINA), up 2% after announcing up to $500M share repurchase program. DOWN AFTER EARNINGS: JPMorgan (JPM), down 3.7%... NQ Mobile (NQ), down 14.6%. ALSO LOWER: Gap (GPS), down 4% after reporting March SSS fell 6%, shares downgraded at Janney Capital... Voxeljet (VJET), down 16% after 3M share secondary offering priced at $15.00... Datawatch (DWCH), down 29% after cutting its second quarter revenue outlook.
08:31 EDTSINASINA announces up to $500M share repurchase program
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April 10, 2014
08:26 EDTSINASINA licensed to to sell investment products in China, Marbridge Daily says
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April 9, 2014
09:33 EDTBHPBofA/Merrill's industrial/mining analysts hold analyst/industry conference call
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