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Stock Market & Financial Investment News

News Breaks
May 23, 2014
16:31 EDTT, HD, CPB, LOCK, AGN, PFE, DLTR, CRM, DKS, LO, VRX, DTV, HPQ, PETM, GM, RAI, AZNMarket 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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June 23, 2015
07:31 EDTAZNBIND Therapeutics announces FDA authorization of clinical trial with AZD2811
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07:25 EDTVRX, PFEPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
06:05 EDTHPQNo clear prospects for PC component suppliers until July, DigiTimes reports
There are no clear business prospects for PC component suppliers until July, reports DigiTimes. According to sources in the supply chain, Intel's decision to delay the launch of its Skylake platform has weakened market demand for notebooks and other PC systems. The planned release of Microsoft (MSFT) Windows 10 may also affect the production of PC makers. Reference Link
05:41 EDTDTV, TAT&T upgraded to Buy from Neutral at UBS
UBS analyst John Hodulik upgraded AT&T (T) to Buy citing an attractive valuation at current share levels. Hodulik expects the phone giant's core domestic wireless business to show "meaningful improvement" in Q2. He also thinks financial benefits from the DirecTV (DTV) acquisition are being underappreciated by the market. Hodulik raised his price target for AT&T shares to $42 from $34. The stock was also upgraded this morning by Barclays analyst Amir Rozwadowski. AT&T shares closed yesterday up 5c to $35.04.
05:35 EDTDTV, TAT&T upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Amir Rozwadowski upgraded AT&T (T) to Overweight saying earnings estimates should move higher following the close of the DirecTV (DTV) acquisition. After visiting AT&T's headquarters, Rozwadowski believes synergies from the deal are "too material to ignore." He raised his price target for AT&T shares to $39 from $34. The stock closed yesterday up 5c to $35.04.
June 22, 2015
12:41 EDTGMHyundai nearing sponsorship agreement with NFL, Bloomberg reports
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11:15 EDTGMGM activists not interested in merger with Fiat Chrysler, Financial Times says
General Motors (GM) activist holders have said they will not push for a merger with Fiat Chrysler (FCAU), reports the Financial Times. According to four people familiar with the matter, the activist contingent, which controls about 1.5% of GM shares, is more interested in cutting costs than embarking on a complicated merger transaction. One person close to the hedge funds said the investors believe consolidation makes sense but are unsure "that this particular consolidation makes sense." Reference Link
11:02 EDTGMGeneral Motors to invest $245M at Orion Assembly plant
General Motors said it will invest $245M and add 300 new jobs at its Orion Assembly plant to support launching an all-new vehicle program. "Orion Assembly is a breeding ground for manufacturing innovation,” said Cathy Clegg, GM North America vice president of Manufacturing and Labor Relations. "It serves as a model for how to engage the entire workforce at all levels to achieve success. The plant is up to the challenge of building this brand-new product, something it’s never seen before." Investment in Orion totals $962M since the UAW and GM worked together to reopen the previously idled plant in 2010, the automaker announced in a statement. Today's announcement is a part of the $5.4B GM has announced it will invest in U.S. manufacturing over the next three years. Approximately $3.1B of the $5.4B has been identified, leaving $2.3B to be announced by year end.
09:52 EDTDTVKimberly-Clark names DirecTV CEO Michael White to board of directors
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09:40 EDTTActive equity options trading on open
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08:52 EDTPFEPortola, Bristol-Myers, and Pfizer announce results from Phase 3 ANNEXA study
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07:01 EDTPFEPfizer to acquire Nimenrix, Mencevax from GlaxoSmithKline for $130M
Pfizer (PFE) announced that it has entered into an agreement with GlaxoSmithKline (GSK) to acquire its quadrivalent meningitis ACWY vaccines, Nimenrix and Mencevax, for a total consideration of approximately $130M. This transaction will add two high-quality and complementary vaccines to Pfizer’s portfolio, allowing the company to reach a broader global population. Nimenrix is a single dose meningococcal ACWY-TT conjugated vaccine designed to protect against Neisseria meningitidis, an uncommon but highly contagious disease that can lead to disability and death. Mencevax is a single-dose meningococcal ACWY unconjugated polysaccharide vaccine used to control outbreaks of meningococcal infection and for travelers to countries where the disease is endemic or highly epidemic. Pfizer does not expect this transaction to have any significant impact on its 2015 financial performance. The transaction is subject to customary closing conditions as well as regulatory approvals in several markets, and is expected to occur in the second half of 2015. Pfizer’s legal advisors for the transaction were Ropes & Gray and Clifford Chance.
06:57 EDTGMCNH Industrial upgraded to Neutral from Underweight at JPMorgan
JPMorgan upgraded CNH Industrial (CNHI) to Neutral saying the stock could find support until the potential General Motors (GM) and Fiat-Chrysler (FCAU) merger is resolved. The firm raised its price target for shares to $8.50 from $7.50.
06:08 EDTGMGeneral Motors to add over 243,000 hatcbacks to air bag recall, AP reports
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June 19, 2015
16:24 EDTAGNStocks end week higher after Fed reassures on gradual pace of rate increases
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16:00 EDTTOptions Update; June 19, 2015
iPath S&P 500 VIX Short-Term Futures up 11c to 18.21, Option volume leaders: AAPL TWTR BAC T FB GILD NFLX BABA AAL MU AMZN
10:50 EDTGMEPA proposes new rules for medium- and heavy-duty truck emissions
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07:44 EDTHPQTamr receives $25.2M in financing from HP Ventures, Thomson Reuters, others
Tamr announced that it has raised $25.2M in Series B financing from Hewlett Packard Ventures (HPQ); Thomson Reuters (TRI); MassMutual Ventures, the corporate venture capital arm of Massachusetts Mutual Life Insurance Company and others. Current Tamr investors NEA and Google Ventures (GOOG) also participated in the round. Tamr will use the funds to significantly grow sales as well as product engineering for Tamr’s scalable data unification platform.
07:14 EDTRAIReynolds American reinstated with an Overweight at Barclays
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06:22 EDTTMicrosoft to offer more Lumia phones through U.S. carriers, Re/code reports
Microsoft (MSFT) will be offering more of its Lumia smartphones through U.S. wireless carriers, Re/code reports. Beginning next week, the company’s Lumia 640 XL smartphone will be available through AT&T (T) for around $250, the report says. The Lumia 735 will begin selling through Verizon (VZ) at around $200, Re/code reports. Reference Link
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