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Stock Market & Financial Investment News

News Breaks
April 12, 2012
12:11 EDTSNE, MKTX, AVID, CSCO, FIO, TSCO, CAH, ABC, MCK, HPQ, BLKOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, despite a larger than expected increase in weekly jobless claims. The market opened relatively quietly following the release of a number of economic data points. The averages drifted for the opening minutes but then gained upside momentum. The move higher stalled after the averages had gains of roughly 0.5%, then stocks resumed their march higher, with all of the major averages up more that 1.0% near noon... ECONOMIC EVENTS: Domestically, 380K initial jobless claims were filed last week, versus the expected 355K. 3.25M continuing claims were reported, versus the expected 3.33M. Producer prices for the month of March were flat, versus the expected increase of 0.3%. The core PPI reading, however, rose 0.3%, versus the expected increase of 0.2%. The trade balance report showed a deficit of $46.0B, versus expectations for a deficit of $51.8B. Also, Fed Vice Chairwoman Janet Yellen made comments last night that the Fed might need to take additional action to bolster the economy if the unemployment rate does not come down. Internationally, Italy's short-term borrowing costs rose at auction, adding to fears that the calming effect of cheap ECB cash is fading... COMPANY NEWS: Sony (SNE) confirmed it plans to cut approximately 10,000 jobs in FY12 as it reorganizes to grow its electronics business to complement its stable entertainment and financial service businesses. Sony said it is positioning digital imaging, games and mobile as the three main focuses of its electronics division and it is making deep cuts in the costs and number of offerings in its television business. Investors were apparently not particularly moved by the announcements, as shares were up 2c, or 0.11%, to $18.77... Researchers Gartner and IDC both indicated that global shipments of personal computers rose in Q1 and Hewlett-Packard (HPQ) remained the top PC maker by volume, pushing H-P's shares up 6.25% near noon... MAJOR MOVERS: Among the notable gainers were McKesson (MCK), up 4%, after the company beat out AmerisourceBergen (ABC) and Cardinal Health (CAH) to retain its Department of Veterans Affairs contract, Tractor Supply (TSCO), up almost 6%, after the company raised its 2012 guidance on expectations for a strong first quarter, Fusion-io (FIO), up more than 12%, following a note to investors from Piper Jaffray which said it believes the company is working on a new original equipment manufacturer deal with Cisco (CSCO). Noteworthy losers included Avid Technology (AVID), down over 14%, after the company said it expects to post a Q1 loss on revenues that will be down compared to last year, and MarketAxess (MKTX), down more than 4%, following a Wall Street Journal report that BlackRock (BLK) intends to launch its own trading platform that would let money managers trade bonds directly with each other... INDICES: Near noon, the Dow was up 142.14, or 1.11%, to 12,947.53; the Nasdaq was up 34.78, or 1.15%, to 3,051.24; and the S&P 500 was up 14.37, or 1.05%, to 1,383.08.
News For SNE;HPQ;MCK;ABC;CAH;TSCO;FIO;CSCO;AVID;MKTX;BLK From The Last 14 Days
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October 8, 2014
16:56 EDTHPQGartner says worldwide PC shipments in Q3 declined 0.5%
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11:04 EDTHPQEMC advances after activist letter, report on HP merger talks
Shares of EMC (EMC) are rising slightly in a down market after activist investor Elliott Management disclosed that it wrote in a letter to the company's board that it had heard of "acquisition interest in EMC's assets on the part of several large companies." The firm called on EMC to pursue M&A opportunities and spin off its VMware (VMW) subsidiary. WHAT'S NEW: Since July, several large companies have expressed "acquisition interest" in EMC's assets, Eliiott wrote. Acquisitions of EMC's assets by these companies would be logical from a strategic perspective, the firm added. The parties that have expressed interest could afford to buy all of EMC or a number of its assets, according to Elliott. EMC should look to spin off VMware because owning VMware is holding down the value of EMC's stock and damaging its relationship with its customers, the investor stated. VMware is hurting EMC by competing with EMC's customers, Elliott explained. Elliott Management noted that is affiliates collectively own or have economic exposure to about 2.2% of the common stock and equivalents of EMC. WHAT'S NOTABLE: HP (HPQ) and EMC are still conducting due diligence on a potential merger, CNBC's David Faber reported this morning, citing sources. A deal is unlikely, but still possible, and would include a buy-in of VMware, Faber added. PRICE ACTION: In mid-morning trading, EMC rose 0.3% to $28.20, VMware slid 0.9% to $90.59 and HP dropped 1.2% to $34.80.
10:46 EDTHPQOptions with decreasing implied volatility
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10:00 EDTMCKOn The Fly: Analyst Initiation Summary
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09:53 EDTHPQHP, EMC still doing due diligence on potential deal, CNBC reports
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09:49 EDTHPQHP, EMC merger unlikely but still possible, CNBC's Faber says
09:48 EDTHPQHP, EMC still doing work on potential deal, CNBC reports
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09:38 EDTCSCOCisco breakup would not create much value, says Citigroup
Citigroup says its analysis shows that a breakup of Cisco would not create much more value than the current share price. With CEO John Chambers' likely retirement next year, however, Citi thinks the Cisco board is likely to at least entertain the option of a split. The firm sees a low probability of a breakup taking place and keeps a Sell rating on Cisco shares. Citi upped its price target for the stock to $22 from $20.50. Citi's analysis of Cisco follows breakup decisions by HP (HPQ) and JDSU (JDSU) and Bloomberg's report this morning that Symantec (SYMC) is in advanced talks to split into two separate companies. This report corrects the rating on Cisco shares to Sell.
08:33 EDTCAHCardinal Health and Ohio State University complete $13M medical imaging facility
Cardinal Health , the Ohio State University and State of Ohio Third Frontier Commission have completed a five-year-long project to create a new, $13M molecular imaging pharmaceuticals center. The 27,000-square-foot facility will research and produce specialized pharmaceuticals called "imaging agents," which are injected into the body and seek out particular cellular functions that are indicative of specific disease processes. The new center supports more than 80 employees.
08:00 EDTBLKBlackRock volatility increases into Q3 and guidance
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06:35 EDTCSCOCisco's reorganization affects up to 25,000 employees, Business Insider reports
Cisco's reorganization of its routing and switching engineering business could affect up to 25,000 employees, reports Business Insider. Citing sources in Silicon Valley, the reorganization involves massive changes for the unit, moving from individual teams to two big overarching teams with one group focused on software and the other on hardware. Due to the changes, sources say a lot of senior employees have begun send out resumes. Reference Link
06:16 EDTMCKMcKesson initiated with a Buy at Citigroup
Target $235.
06:13 EDTHPQ, SNENon-Apple notebook, tablet demand to be weak till 2Q15, DigiTimes reports
Demand for non-Apple (AAPL) notebooks and tablets may remain weak until the second quarter of 2015, reports DigiTimes. Citing Taiwan makers, the pressure due to booming sales from Apple products may decrease sales until Microsoft (MSFT) launches Windows 10 next year. Demand for Samsung (SSNLF), Sony (SNE) , And HTC smartphones have also dropped worldwide recently. Reference Link
October 7, 2014
11:27 EDTHPQHP non-public info may relate to Rackspace, Betaville speculates
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10:43 EDTHPQOptions with decreasing implied volatility
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08:09 EDTHPQHP undisclosed info seen pointing to life in EMC talks, Bloomberg reports
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08:04 EDTSNEAVG Technologies, Sony Mobile announce mobile security partnership
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07:36 EDTCSCOCisco unlikely to split-up despite speculation, says UBS
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06:52 EDTCSCOAruba Networks may be displacing Cisco in some verticals, says RBC Capital
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06:41 EDTSNESony's internet TV service could cost up to $80 per month, NY Post reports
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