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Stock Market & Financial Investment News

News Breaks
April 24, 2012
Stocks on Wall Street were mixed at midday, following better than expected earnings from three more Dow components. The Nasdaq is being weighed on by a slide in Apple's (AAPL) shares, which are down about 2% ahead of tonight's earnings report. AT&T's (T) report of its quarterly iPhone activations added to recent weakness in that much watched stock. The futures action led to a mixed opening for the market and the averages have moved in a fairly narrow range since the opening bell... ECONOMIC EVENTS: Domestically, the S&P/Case Shiller 20-city composite home price index gained 0.2% in February on a seasonally adjusted basis, matching forecasts and marking the first time the reading has risen since April of last year. Without adjusting for seasonal differences, the survey fell to its lowest level since the housing market downturn began. New single-family home sales dropped in March but beat analysts' expectations as the government upwardly revised its sales figures for February, January and December. The new data and adjustments resulted in a seasonally adjusted 328,000 unit annual sales rate. U.S. consumer confidence edged slightly lower in April to 69.2, versus expectations of a 69.6 reading. The Richmond Fed manufacturing index rose to 14, up from 7 the month prior and above the forecast for a 6 reading. In Europe, a Dutch bond sale went off without problems the day after its government collapsed over budget cuts... COMPANY NEWS: AT&T (T) led all Dow advancers, rising 3.5%, following its better than expected earnings. Shares of United Technologies (UTX) and 3M (MMM) also rose after both reported earnings that beat consensus. IBM (IBM) was another source of Dow strength after the company increased its dividend and share repurchase authorization... Fitch restored its credit ratings on Ford Motor (F) to investment grade for the first time since 2005... Among companies reporting earnings, advancers included Carlisle (CSL), Baker Hughes (BHI), Parker Hannifin (PH) and Hershey (HSY); decliners included Waters (WAT), Lexmark (LXK) and Sanmina-SCI (SANM)... MAJOR MOVERS: Among the notable gainers were Align Technology (ALGN), up about 15%, after its earnings and guidance beat the Street's view, and Sequenom (SQNM), up more than 10%, after William Blair said in a note to investors that the company's MaterniT21 test volumes could top consensus estimates. Noteworthy losers included Big Lots (BIG), down over 20%, following at least four downgrades after the company lowered its same store sales view, and Netflix (NFLX), down 13%, after the company posted a quarterly loss and gave lower than anticipated domestic subscriber guidance for Q2. Also lower were shares of Corrections Corporation of America (CXW), down almost 8%, after California announced plans to overhaul its prisons and cut billions in prison spending... INDICES: Near noon, the Dow was up 105.88, or 0.82%, to 13,033.05; the Nasdaq was down 0.84, or 0.03%, to 2,969.61; and the S&P 500 was up 7.15, or 0.52%, to 1,374.09.
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September 23, 2015
09:55 EDTFActive calls on open: BIIB FCX X F INTC
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09:33 EDTAAPLActive equity options trading on open: AAPL BBRY BIDU BIIB
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09:24 EDTAAPLT-Mobile announces $5 per month offer on iPhone 6s
On the cusp of iPhone 6s and iPhone 6s Plus availability, T-Mobile unveiled a $5 a month for iPhone 6s 16GB and $9 a month for iPhone 6s Plus 16GB with JUMP! On Demand and trade-in of an iPhone 6 or iPhone 6 Plus. T-Mobile's new pricing builds on the Un-carrier's straightforward $20 a month for a new iPhone 6s 16GB with JUMP! On Demand without a trade-in.
09:18 EDTIBM, AAPLPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
07:28 EDTAAPLApple installment plans may accentuate seasonality, says UBS
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September 22, 2015
16:15 EDTAAPLGoPro CEO says does not believe Apple developing rival camera, Fortune reports
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16:00 EDTAAPL, F, NFLXOptions Update; September 22, 2015
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14:14 EDTBHIWeatherford spikes after cancelling share offering
Shares of Weatherford (WFT) spiked Tuesday after the company cancelled plans for a public share offering, saying it was "unwilling to sell securities at prices that do not reflect the value" created at the company. Several analysts weighed in on the news, appearing generally bullish on the company but disagreeing on whether Weatherford should focus on its own operations or continue to pursue acquisitions. FOCUS ON FUNDAMENTALS: Jefferies analyst Brad Handler reiterated his Buy rating and $13 price target on Weatherford shares, explaining that the capital increase plans would likely have gone towards buying Halliburton (HAL) drilling assets at an "unattractive" price point. Note that Halliburton is conducting various asset divestitures as part of its planned takeover of Baker Hughes (BHI), with Bloomberg reporting on September 14 that Weatherford had made a bid for the service portion of Halliburton's Sperry Drilling unit. In today's note, Handler acknowledged that the potential acquisition would add some "meaningful" synergies on paper, but he also highlighted the risk of further diluting Weatherford share value. Handler concluded that he is generally more comfortable with a Weatherford "that walks before it runs," adding that he hopes the company "continues to resist the temptation" of large acquisitions amid the current sector downturn. ACQUISITION POTENTIAL: Iberia analyst Robert MacKenzie said he is a buyer of Weatherford shares after Monday's 17% selloff prior to the capital raise cancellation last night. Although an acquisition by Weatherford is less likely without the funds from the public offering, it is still possible, "especially considering that no mention of backing away from their acquisition intent was made in the most recent press release," MacKenzie noted. However, Weatherford's press release announcing the capital raise specifically cited the need to pre-fund potential acquisitions, while its cancellation notice emphasized a focus on core businesses and efficient operations. Nevertheless, MacKenzie argued that Halliburton "remains a motivated seller" and called Weatherford the "most logical" candidate to pick up the company's previously-mentioned assets, saying the potentially transformative acquisition would make "tremendous sense." PRICE ACTION: Weatherford shares are up more than 8.5% to $9.13 in intraday trading after falling throughout yesterday's session on the company's initial decision to pursue a public offering.
13:05 EDTPHParker-Hannifin sees 5-year CAGR EPS growth 8%
Sees 8% EPS growth CAGR over a five-year period through FY20. Other targeted metrics by FY20 include: Organic sales growth 150 bps greater than Industrial growth; sales of $14B via organic growth; segment operating margins 17%; ROIC 17%; cash from operations greater than10%. Regarding capital deployment, though FY20, sees $1.8B in dividends, $1.2B in CapEx, $4B in strategic M&A and share buybacks. Comments from slides that will be presented at the company's investor meeting.
12:55 EDTAAPLGoPro CEO says 'lots of conversations' with Apple, none about takeover
Nick Goodman is speaking on CNBC.
10:45 EDTNFLXStocks with call strike movement; TWTR NFLX
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10:34 EDTUTXUnited Technologies drops, nears test of 52-week low
Price was last at $89.10, down over 2.6%. At that price next major support isn't until the 52-week low at $87.17. Resistance is at $89.72.
10:07 EDTNFLXMedia companies adjust Netflix strategy ahead of OTT growth, Bloomberg says
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10:00 EDTTAT&T commits to bringing broadband to over 37,00 homes, businesses in OH
AT&T has committed to extend broadband to more than 37,000 rural homes and businesses in Ohio over the next six years.
09:33 EDTNFLX, AAPLActive equity options trading on open
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08:59 EDTMMM3M recent weakness creates buying opportunity, says Argus
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07:46 EDTAAPLFormer GM exec: Apple will lose money in car business, CNBC says
Apple (AAPL) could lose big money if it enters the electric car business, CNBC reports, citing comments from former General Motors (GM) vice chairman Bob Lutz. "There is absolutely no reason to assume that Apple is going to be financially successful in the electric car business," Lutz told CNBC. Reference Link
07:40 EDTAAPLApple may be overextending brand with car project, says UBS
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07:29 EDTAAPLApple coverage assumed with a Buy at Goldman
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07:26 EDTBIGBig Lots management to meet with Deutsche Bank
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