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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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September 12, 2014
06:30 EDTSNEGlobal tablet shipments to increase 9.1% in Q3, DigiTimes Research reports
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06:05 EDTCSCOCisco implied volatility of 14 at lower end of index mean range
05:41 EDTSNESony collaborates with Teradek
Teradek announced collaboration with Sony to integrate Sony’s wireless camera adapter, the CBK-WA100 and CBK-WA101, with Teradek’s T-Rax and Slice H.264 decoders. The integration offers broadcasters a powerful point-to-point MPEG-2 solution for HD live video transmission from the field to TV stations or ENG trucks.
September 11, 2014
18:30 EDTHPQHP, Russia plead guilty, sentenced for bribing Russian government officials
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16:10 EDTHPQHP acquires open source cloud software maker Eucalyptus
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11:17 EDTCSCO, HPQEMC seen as potential target after said to mull VMware stake sale
EMC (EMC) is considering selling its 80% stake in cloud computing infrastructure provider VMware (VMW), The New York Post reported today, citing unnamed sources. Calling The New York Post "surprisingly accurate" on M&A news, UBS said the likelihood of change at EMC has increased and it has become a potential takeover target. WHAT'S NEW: EMC is exploring the possibility of selling its stake in VMware, which could be acquired by HP (HPQ), according to one source, The Post reported. EMC could also look to sell other assets, the newspaper quoted a second unnamed source as saying. ANALYST REACTION: UBS analyst Steven Milunovich wrote that he is more convinced in the wake of the Post story that "something is up" at EMC. Although EMC has denied in the past that it would consider selling or spinning off VMware, the company could change its tune, the analyst stated. HP could buy VMware or all of EMC, while Oracle (ORCL) and Cisco (CSCO) are also potential buyers of EMC, Milunovich believes.The analyst kept a $33 price target and Buy rating on shares of EMC. WHAT'S NOTABLE: Activist investor Elliott Management, a hedge fund, has taken a $1B stake in EMC and wants the company to spin off VMware, The Wall Street Journal reported in July. Early last month, research firm FBR Capital wrote that an EMC spin-off of VMware could enhance shareholder value for both companies and make VMware a top acquisition candidate by a larger technology company. The firm kept an Outperform rating on EMC at that time. PRICE ACTION: In late morning trading, EMC was little changed at $29.50, down from its earlier high of $29.89. VMware fell 0.7% to $96.75, down from its earlier daily high of $97.86.
10:30 EDTHPQUBS sees increasing likelihood of change at EMC
UBS calls the New York Post "surprisingly accurate on M&A" after the paper reported that EMC (EMC) is considering the sale of its stake in VMware (VMW). The firm believes the likelihood for change at the company is rising. In addition, UBS says the industry should consolidate, and it views EMC as a potential target. UBS thinks Cisco (CSCO), Oracle (ORCL) and HP (HPQ) might be interested parties in owning part or all of EMC. The firm believes an HP, EMC merger would make sense. UBS has a Buy rating on EMC with a $33 price target.
07:32 EDTCAHCardinal Health appoints Michael C. Kaufmann as CFO
Cardinal Health has named Michael C. Kaufmann, 51, CFO effective Nov. 11. This follows the previously announced planned retirement of current CFO Jeffrey W. Henderson, 49. Jon Giacomin, 49, has been named to the role of CEO of the Pharmaceutical segment, currently held by Mike Kaufmann, also effective Nov. 11.
07:07 EDTHPQEMC to explore selling VMware stake, NY Post reports
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September 10, 2014
12:46 EDTSNESony Entertainment CEO says division spin-off 'not happening,' NY Post reports
The CEO of Sony's entertainment division, Michael Lynton, said that Sony is not entertaining a sale, spin-off, or joint venture of its entertainment business, New York Post reports, citing an overview of the business from Lynton during Golgman Sachs' Communacopia conference. Lynton also said that the entertainment division's music business has a very bright future, and the company "really wants the subscription model to thrive." Lynton also said that network TV is a promising business if producers know the landscape of the international market, New York Post added. Reference Link
10:16 EDTTSCOTractor Supply rated Strong Sell at Off Wall Street Research
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10:01 EDTSNEViacom and Sony reach internet distribution agreement
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08:56 EDTABCPharMerica announces commercial litigation vs. AmerisourceBergen
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08:31 EDTHPQRiverbed names Mike Nefkens, Steffan Tomlinson to board of directors
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07:41 EDTBLKBofA/Merrill to hold a conference
European High Yield & Loans Conference 2014 to be held in London, England on September 10.
September 9, 2014
14:04 EDTHPQHP price target raised to $43 from $40 at Argus
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08:23 EDTBLKU.S. Treasury Dept and U.S. Transportation Dept to co-host a summit
Infrastructure Investment Summit to be held in Washington, D.C. on September 9 with webcasted presentations to begin at 8:30 am. Webcast Link
07:17 EDTCSCO, HPQThe Wireless Association to hold a conference
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September 8, 2014
08:45 EDTCSCONimble Storage, Arista, CommVault recommnded on M&A at Pacific Crest
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07:26 EDTMCKMorgan Stanley to hold a conference
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