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Stock Market & Financial Investment News

News Breaks
January 27, 2014
12:28 EDTRGR, INFY, FMD, SWHC, CTSH, SLM, WIT, NNIStocks worth watching ahead of State of the Union
Student lenders, IT outsourcers, and gun makers are among the sectors that investors may want to keep an eye on ahead of the State of the Union address tomorrow night. STUDENT LENDERS: Senator Elizabeth Warren intends to introduce a bill to let students refinance their old loans at new, lower rates, she said earlier this month. Shares of SLM Corp. (SLM), which provides loans to college students, have been weak due to concerns that President Obama will express support for this legislation during his State of the Union address tomorrow night, FBR Capital analyst Edward Mills wrote in a note to investors last week. But the concern is misplaced, as Congress is unlikely to pass Warren's bill, Mills contended. He thinks the weakness in the stock of the company formerly known as Sallie Mae creates a buying opportunity for investors. Other names in the student lending space include First Marblehead (FMD) and Nelnet (NNI). INDIAN IT OUTSOURCERS: On Saturday, The Wall Street Journal reported that President Obama is likely to highlight immigration reform legislation in the State of the Union address, Wells Fargo analyst Ed Caso stated in a note to investors earlier today. Immigration reform legislation could surface next spring, and the House could vote on it in the early fall, Caso stated, citing unnamed sources. The House bill may be less hurtful to Indian IT outsourcing companies than the Senate immigration reform bill, the analyst believes. But the outsourcers' stocks could be negatively impacted by the advancement of legislation in the House, he added. Indian IT outsourcing companies provide foreign workers who hold temporary U.S. visas to American firms. A new immigration law could place restrictions on these visas, undermining the Indian IT outsourcers' business. Stocks in the outsourcing space include Cognizant Technology (CTSH), Infosys (INFY) and Wipro (WIT). GUN MAKERS: In his 2013 State of the Union address, President Obama called on Congress to tighten the country's gun control laws. Congress did not comply with his request, and the President could reiterate his call, or even announce that he is taking action on his own on this issue. Names in the space include Smith & Wesson (SWHC) and Sturm, Ruger (RGR).
News For SLM;FMD;NNI;CTSH;INFY;WIT;SWHC;RGR From The Last 14 Days
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December 19, 2014
10:17 EDTFMDOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aviva (AV) upgraded to Outperform from Market Perform at Bernstein... Basic Energy (BAS) upgraded to Buy from Accumulate at Tudor Pickering... BioDelivery Sciences (BDSI) upgraded to Buy from Neutral at Roth Capital... CVS Health (CVS) upgraded at SunTrust... CVS Health (CVS) upgraded to Buy from Neutral at SunTrust... EPR Properties (EPR) upgraded to Hold from Underweight at KeyBanc... Ensco (ESV) upgraded to Accumulate from Hold at Tudor Pickering... First Marblehead (FMD) upgraded to Buy from Neutral at Compass Point... GOL Linhas (GOL) upgraded to Outperform from Neutral at Credit Suisse... Medical Properties Trust (MPW) upgraded to Hold from Underweight at KeyBanc... NVIDIA (NVDA) upgraded to Neutral from Underperform at BofA/Merrill... NewStar Financial (NEWS) upgraded to Buy from Neutral at Sidoti... Orange SA (ORAN) upgraded to Buy from Hold at Deutsche Bank... Parker Drilling (PKD) upgraded to Buy from Accumulate at Tudor Pickering... Potash (POT) upgraded to Buy from Neutral at UBS... Teekay Tankers (TNK) upgraded to Buy from Neutral at BofA/Merrill... Tidewater (TDW) upgraded to Accumulate from Hold at Tudor Pickering... Unum Group (UNM) upgraded to Buy from Neutral at Compass Point... WPP PLC (WPPGY) upgraded to Buy from Neutral at Citigroup... Weatherford (WFT) upgraded to Buy from Hold at Tudor Pickering.
08:02 EDTSWHCSmith & Wesson a front-runner for Army contract, says Wunderlich
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06:23 EDTFMDFirst Marblehead upgraded to Buy from Neutral at Compass Point
Compass Point upgraded First Marblehead to Buy citing the withdrawal of the IRS challenge to federal tax refunds.
December 18, 2014
11:28 EDTFMDFirst Marblehead jumps 157% after IRS reverses course on adjustments
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11:19 EDTFMDFirst Marblehead announces IRS withdrawing proposed adjustments
First Marblehead announced that the Internal Revenue Service has informed the company that it is no longer challenging the federal tax refunds the company previously received in the amounts of $176.6M and $45.1M. As the company has previously disclosed, the IRS had issued Notices of Proposed Adjustment, or NOPAs, in September 2013 that proposed to disallow the loss that resulted in the tax refunds, as well as require the company to include income from the trust certificate of NC Residuals Owners Trust from the March 31, 2009 sale date through June 30, 2011 in its taxable income for such years. The company expects to receive formal written confirmation of the IRS's decision not to make these adjustments during 3Q15. As for all refunds in excess of $2M, the IRS's decision is subject to the review of the Congressional Joint Committee on Taxation, First Marblehead noted.
10:59 EDTFMDFirst Marblehead trading halted, pending news
December 16, 2014
07:12 EDTCTSHCognizant called top pick in IT Services at Deutsche Bank
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December 12, 2014
09:08 EDTWIT, CTSHHatch to look to push tech worker bill, Reuters reports
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December 11, 2014
10:24 EDTSWHCOptions with decreasing implied volatility
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05:40 EDTCTSHCognizant resumed with an Overweight at Barclays
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December 10, 2014
10:20 EDTSWHCOptions with decreasing implied volatility
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08:03 EDTCTSHCLSA to hold a summit
CLSA Innovation Summit is being held in New York on December 10-11.
December 9, 2014
10:07 EDTWITFortinet may receive buyout from Wipro, says AsianSweeper
Fortinet (FTNT) may receive a buyout from Wipro (WIT), AsianSweeper says. Wipro is looking to strengthen the market share in security solutions and Fortinet, the current revenue leader in unified threat management is a perfect fit, as two companies already have existing synergies in certain areas. Reference Link
December 8, 2014
10:29 EDTINFYInfosys falls, levels to watch
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10:20 EDTSWHCOptions with decreasing implied volatility
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