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Stock Market & Financial Investment News

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April 24, 2012
12:17 EDTSQNM, LXK, NFLX, ALGN, WAT, BIG, SANM, HSY, CXW, PH, F, UTX, BHI, IBM, AAPL, CSL, MMM, TOn The Fly: Midday Wrap
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.
News For T;AAPL;UTX;MMM;IBM;F;CSL;BHI;PH;HSY;WAT;LXK;SANM;ALGN;SQNM;BIG;NFLX;CXW From The Last 14 Days
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November 13, 2014
16:36 EDTBHIOn The Fly: Closing Wrap
Stocks on Wall Street saw another day of relatively quiet trading in a tight range, but the major averages once again finished the session higher than where they'd began. The Dow, powered by the post-earnings advance from Wal-Mart (WMT), led and closed at a new all-time high for the third time in the last four days. ECONOMIC EVENTS: In the U.S., initial jobless claims rebounded 12K to 290K in the week ending November 8, versus expectations for 280K first-time claims. The Job Openings and Labor Turnover Survey, or JOLTs report, showed job openings fell to 4.335M in September, versus the consensus forecast for 4.8M openings. The Treasury reported a $121.7B budget deficit for October, versus the consensus deficit forecast of $117B. COMPANY NEWS: Wal-Mart led the Dow, advancing $3.74, or 4.72%, to $82.94 after the world's largest retailer's earnings beat expectations and it reported U.S. comparable store sales grew 0.5% during the just-completed quarter... Warren Buffett’s Berkshire Hathaway (BRK.A) agreed to acquire the Duracell battery business from Procter and Gamble (PG) via a stock swap. In exchange for a recapitalized Duracell company, which will include approximately $1.7B in cash at closing, P&G will receive shares of its own common stock currently held by Berkshire having a current value of approximately $4.7B, the companies announced. Shares of Procter & Gamble, which also guided to FY15 core EPS growth in a mid-single digit percentage range, fell 88c, or 0.98%, to $88.60 after the deal was announced and guidance was issued. MAJOR MOVERS: Among the notable gainers was Baker Hughes (BHI), which surged $7.77, or 15.24%, to $58.75 after The Wall Street Journal said the company is in fast-moving talks to be acquired by larger peer Halliburton (HAL), which also rose 56c, or 1.05%, to $53.79 following the report. Also higher was DreamWorks Animation (DWA), which jumped $3.15, or 14.08%, to $25.52 after several media outlets reported that the animated movie maker company was in talks about selling itself to toy maker Hasbro (HAS). Hasbro shares fell $2.49, or 4.33%, to $54.98 following the reports. Also lower were shares of Revance (RVNC), which fell $4.93, or 23.48%, to $16.07 after the company said last night that the preliminary results from its ongoing open-label study suggest it still has "some work to do" to increase the probability of success for its upcoming Phase 3 pivotal program for RT001. INDEXES: The Dow rose 40.59, or 0.23%, to 17,652.79, the Nasdaq gained 5.01, or 0.11%, to 4,680.14, and the S&P 500 added 1.08, or 0.05%, to 2,039.33.
16:03 EDTAAPLOptions Update; November 13, 2014
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16:01 EDTBHIBaker Hughes calls active on consolidation reports
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15:53 EDTBHIBaker Hughes gaps up after trading halt
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15:51 EDTBHIHalliburton calls active on talks to acquire Baker Hughes, reports
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15:45 EDTBHIHalliburton, Baker Hughes in fast-moving merger talks, WSJ reports
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15:37 EDTBHIBaker Hughes jumps 1.3%, halted for volatility after report on Halliburton talks
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15:37 EDTBHIHalliburton in fast-moving talks to acquire Baker Hughes, DJ reports
13:28 EDTAAPL, IBMBlackBerry hits 52-week high after unveiling partnerships
Shares of BlackBerry (BBRY) hit a new 52-week high after the company announced three new partnership deals. The company is slated to hold its analyst day today, starting at 3:30 PM ET. WHAT'S NEW: BlackBerry announced that it would partner with Samsung to provide a security solution for the South Korean company's mobile devices that utilize Google's (GOOG) Android operating system. Under the deal, BlackBerry’s BES12, an Enterprise Mobility Management system, or EMM that was launched today, will be integrated with some of Samgung's Galaxy smartphones and tablets. BES 12 "securely manages devices from all of the major enterprise mobile platforms" and "will help organizations securely connect employees with each other and with the corporate information and machines” they need, BlackBerry stated. Also today, Blackberry announced that it would connect its EMM solutions to Salesforce's (CRM) top customer relationship management platform. "This agreement will allow Salesforce and BlackBerry joint customers to run their businesses from their phone while complying with specific industry regulations," said Vivek Kundra, a Salesforce Executive Vice President in a statement. "BlackBerry has an excellent reputation in security and networks, and when matched with the Salesforce Customer Success Platform, public sector organizations can use their mobile devices to connect with customers in a whole new way," added Kundra. Finally, BlackBerry announced that Brightstar would distribute BES 12. BlackBerry described Brightstar as "the world's largest wireless distribution company and leader in services for the wireless industry." WHAT'S NOTABLE: BES12 is expected to compete with Apple (AAPL) in the enterprise space. Apple earlier this year announced that it was partnering with IBM (IBM) in an effort to sell more products to corporate customers. PRICE ACTION: In mid-afternoon trading, BlackBerry jumped 6% to $11.95. Earlier today the shares set a new 52-week high of $12.05.
12:02 EDTIBMIBM signs 10-year, large-scale services agreement with WOOX Innovations
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11:15 EDTFFord wary of expanding South African investment, Reuters says
Due to repeated disruptions to its operations from strikes, Ford is reticent to expand its investment in Its South African operation, says Reuters. Jeff Nemeth, president of Ford's South African business, said, "A challenge for us here in South Africa is convincing our board to continue to invest in a country where the stability of output is a little less certain than in other countries," added Reuters. Reference Link
11:13 EDTAAPLApple hits 52-week high after Bernstein says margins could climb
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11:07 EDTTGogo interested in buying AT&T spectrum, RGN reports
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11:03 EDTMMM3M Company targets R&D investment of approximately 6% by 2017
3M Company is focused on investment in R&D and not yet on margin expansion. Comment made at Goldman Sachs Industrials Conference 2014.
09:40 EDTAAPLActive equity options trading
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08:01 EDTAAPLApple price target raised to $120 from $110 at Bernstein
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08:01 EDTAAPLCalpian says deploys Apple Pay for merchants
Calpian, Inc. (CLPI) has successfully enabled Apple Pay (AAPL) for its merchant customers as they respond to growing consumer interest in the new mobile payment service.
06:39 EDTAAPLApple's rumored iPad Pro delayed to 2Q15, AppleInsider reports
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06:23 EDTAAPLChipmakers in Apple Watch supply chain to start production, DigiTimes reports
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06:07 EDTAAPLApple paying little in iTunes taxes outside North America, AFR reports
According to a report from The Australian Financial Review, which cites an investigation led by the International Consortium of Investigative Journalists, more than two-thirds of the money Apple’s iTunes makes outside North America goes through the group’s Luxembourg holding company where it is not taxable. Apple has been widely criticized for its tax practices in Europe. Reference Link
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