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Stock Market & Financial Investment News

News Breaks
May 23, 2014
16:31 EDTDLTR, CRM, DKS, LO, VRX, DTV, HPQ, PETM, GM, RAI, AZN, T, HD, CPB, LOCK, AGN, PFEMarket ends week higher after Fed minutes, housing data
Stocks finished the week higher after Fed minutes revealed that the central bank does not see inflation as a near-term threat and several economic data points were better than expected. MACRO NEWS: The minutes of the Fed's last meeting stated that committee members expect inflation to remain well below the central bank's 2% objective, adding that the Fed does not believe that it currently faces a trade-off between its employment and inflation objectives... Reports on existing home sales and new home sales in April both showed monthly gains, while a U.S. manufacturing index beat expectations. The index of leading indicators for April was in-line with expectations, while jobless claims were slightly worse than expected. An index of Chinese manufacturing, reported by HSBC, came in significantly above expectations and reached a five month high, despite still indicating contraction in the sector. COMPANY NEWS: AT&T (T) confirmed last weekend that it had agreed to acquire DirecTV (DTV) for $95.00 per share, including $28.50 per share in cash and $66.50 per share in AT&T stock. Also last weekend, Pfizer (PFE) raised its bid for AstraZeneca (AZN), but the U.K. drugmaker again rejected this "final" takeover proposal. In other M&A news, Valeant (VRX) stated that it would sweeten its previous bid for Allergan (AGN), but clarified that the new bid would not be an all-cash offer. Meanwhile, Reuters reported that cigarette maker Reynolds American (RAI) was in advanced talks to acquire its peer, Loriillard (LO)... Lifelock (LOCK), which provides identify theft protection services, tumbled after disclosing that it would temporarily suspend its Wallet mobile application because it is not fully compliant with applicable payment card industry security standards... General Motors (GM) shares fell after the company announced that it was recalling an additional 2.42M vehicles in four separate U.S. recalls. The automaker added $200M to the charge it expects to take in Q2 related to its recalls, bringing the total potential charge up to $400M... Dick's Sporting Goods (DKS), Campbell Soup (CPB), and PetSmart (PETM) were among the companies that dropped after announcing their earnings results. Meanwhile, Home Depot (HD), Hewlett-Packard (HPQ), and Dollar Tree (DLTR) were among the companies whose shares rose following their quarterly reports. INDEXES: The Dow was up 0.7% to 16,606.27, the S&P 500 was up 1.2% to 1,900.53, and the Nasdaq was up 2.33% to 4,185.81.
News For T;DTV;PFE;AZN;VRX;AGN;RAI;LO;LOCK;GM;DKS;CPB;PETM;CRM;HD;HPQ;DLTR From The Last 14 Days
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July 22, 2015
13:24 EDTGMEarnings Preview: General Motors down approximately 20% since Q1 report
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11:32 EDTTAT&T July weekly volatility elevated into Q2 and outlook
AT&T July weekly call option implied volatility is at 30, August is at 17, September is at 16; compared to its 52-week range of 12 to 44, suggesting large near term price movement into the expected release of Q2 results on July 23.
10:26 EDTLOCKOptions with increasing implied volatility
Options with increasing implied volatility: LOCK DUST JNUG CHK LINE LNCO CNX ABX GG GDX
10:01 EDTLOCKOn The Fly: Analyst Downgrade Summary
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09:07 EDTAZN, CPBOn The Fly: Pre-market Movers
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08:32 EDTPFEPfizer expands lease agreement with MIT subsidiary
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08:21 EDTHDHome Depot agrees to acquire Interline Brands for $1.63B
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08:20 EDTGMGeneral Motors July weekly volatility elevated into Q2 and outlook
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07:43 EDTLOCKLifeLock situation is redeemable, says Canaccord
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07:38 EDTCPBCampbell Soup revises long-term growth targets
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07:32 EDTCPBCampbell Soup raises FY15 adjusted EPS view to $2.43-$2.46 from $2.32-$2.38
Consensus is $2.38. Consistent with previous sales guidance, the company expects sales to decline by 1 percent, reflecting the negative impact of currency translation. Reflecting favorable gross margin performance and earlier-than-expected benefits from the previously announced cost reduction initiatives, Campbell now expects adjusted EBIT to decline -2 to -1 percent, compared to the previous guidance of being at the favorable end of the -7 to -5 percent range. The company expects adjusted EPS to be in the range of -1 to 0 percent, or $2.43 to $2.46 per share, compared to the previous guidance of being at the favorable end of the -5 to -3 percent range or $2.32 to $2.38 per share.
07:31 EDTCPBCampbell Soup now sees $75M in savings from cost reduction initiatives in FY15
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07:31 EDTLOCKLifeLock downgraded on lack of visibility of FTC action at RBC Capital
As noted earlier, RBC Capital downgraded LifeLock to Sector Perform from Outperform. As reasons for the downgrade, the firm cited a lack of visibility into the company's potential liability from the FTC action and operational changes that could result from the action. The firm also believes that the company has limited catalysts over the next year beyond results that may beat expectations. RBC says that the market has historically ignored the company's better than expected results. Target to $11 from $20.
07:22 EDTLOCKLifeLock downgraded to Sector Weight from Overweight at Pacific Crest
Pacific Crest analyst Josh Beck downgraded LifeLock to Sector Weight saying the focus of investors may shift from fundamentals to legal risks following the FTC's lawsuit. He sees a balanced risk/reward at current share levels. LifeLock was also downgraded this morning at RBC Capital and Wunderlich.
07:18 EDTGMAir bag aging poses threat to millions of U.S. drivers, NBC News reports
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07:16 EDTLOCKLifeLock downgraded to Sector Perform from Outperform at RBC Capital
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06:27 EDTLOCKLifeLock downgraded to Hold from Buy at Wunderlich
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05:24 EDTCRMStocks with implied volatility movement; CHK CRM
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05:22 EDTLOCKStocks with implied volatility movement; LOCK ESRX
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05:12 EDTAZNAstraZeneca says Phase 3 study of selumetinib did not meet primary endpoint
AstraZeneca (AZN) announced that the Phase 3 SUMIT study of selumetinib in combination with dacarbazine for the treatment of patients with metastatic uveal melanoma did not meet its primary endpoint of progression free survival. This combination therapy showed an adverse event profile generally consistent with current knowledge of the safety profiles of dacarbazine and selumetinib. A full evaluation of the data is ongoing. Selumetinib is a MEK inhibitor in late-stage development, with a primary Phase 3 program in second-line KRAS-mutant advanced non-small cell lung cancer in combination with docetaxel. Selumetinib is also being investigated in a Phase 3 study in differentiated thyroid cancer and in a Phase 2 registration study in patients with neurofibromatosis Type 1. Selumetinib is an oral small molecule MEK inhibitor invented by Array BioPharma (ARRY) and licensed to AstraZeneca in 2003.
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