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Stock Market & Financial Investment News

News Breaks
February 24, 2014
12:05 EDTCSCO, T, ALU, ERICAT&T plans network rebuild that will cut capital costs, WSJ says
AT&T (T) is planning to rebuild its network with commoditized equipment controlled by software, says the Wall Street Journal. The rebuild, which will take time to roll out, will make AT&T less reliant on specialized equipment from vendors like Ericsson (ERIC), Alcatel-Lucent (ALU) and Cisco Systems (CSCO), added the Wall Street Journal. Reference Link
News For T;ERIC;ALU;CSCO From The Last 14 Days
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March 23, 2015
06:06 EDTCSCOStocks with implied volatility below IV index mean; CSCO YELP
Stocks with implied volatility below IV index mean; Cisco (CSCO) 18, Yelp (YELP) 40 according to iVolatility.
March 20, 2015
10:00 EDTERICOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actuant (ATU) downgraded at Stifel... American Capital Mortgage (MTGE) downgraded to Hold from Buy at Wunderlich... Campus Crest (CCG) downgraded at RBC Capital... Care.com (CRCM) downgraded to Neutral from Overweight at JPMorgan... Electrolux AB (ELUXY) downgraded to Neutral from Overweight at JPMorgan... Ericsson (ERIC) downgraded to Equal Weight from Overweight at Morgan Stanley... Extreme Networks (EXTR) downgraded at Raymond James... PrivateBancorp (PVTB) downgraded to Market Perform from Outperform at BMO Capital... TD Ameritrade (AMTD) downgraded to Neutral from Buy at Goldman... Tableau (DATA) downgraded at Mizuho... Tech Data (TECD) downgraded to Hold from Buy at Needham... Tesoro (TSO) downgraded at Wells Fargo... Ultra Clean (UCTT) downgraded to Hold from Buy at Needham... Vince Holding (VNCE) downgraded to Neutral from Overweight at Piper Jaffray... Youku Tudou (YOKU) downgraded to Sell from Hold at Deutsche Bank.
07:24 EDTCSCOBroadcom chip renews competition with in-house hardware makers, WSJ says
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06:24 EDTERICEricsson downgraded to Equal Weight from Overweight at Morgan Stanley
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March 19, 2015
16:26 EDTTOn The Fly: Closing Wrap
Stocks on Wall Street opened lower but turned mixed early in the day and remained that way for most of the session. The Dow and S&P spent most of the day deep in negative territory, while the Nasdaq managed to stay just above the flat line. Investors had a chance to digest yesterday’s comments from the Fed and may have re-considered whether it latest policy stance was as dovish as originally believed. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average after the close last night, replacing AT&T (T). Shares of Apple finished their first day in the blue chip index down 97c, or 0.76%, at $127.50, while AT&T fell 39c, or 1.16%, to $33.20... Coffee giant Starbucks (SBUX) rose $1.92, or 2%, to close at $97.76 after hitting a new all-time high of $99.20 earlier. The move follows the company's investor day meeting yesterday, where it unveiled plans for two pilots of delivery services, reported a partnership to expand the distribution of its ready-to-drink products in China, and announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992. Goldman Sachs and Wells Fargo were both unphased by the record highs and predicted the rally is not over for Starbucks in upbeat notes on the stock today. MAJOR MOVERS: Among the notable gainers was Amicus Therapeutics (FOLD), which rose $3.11, or 33.26%, to $12.46 after reporting positive results in meetings with the EMA and FDA. Also higher was Wynn Resorts (WYNN), which gained $7.19, or 5.85%, to $130.11 after research firm Brean Capital last night initiated coverage of the stock and several casino peers with Buy ratings. Among the noteworthy losers was Transocean (RIG), which fell $1.09, or 7.15%, to $14.16 after saying that it intends to scrap four rigs and noting that with those it has announced plans to scrap a total of 16 floaters. Also lower after its earnings report was diversified apparel company Vince Holding (VNCE), which fell $3.50, or 16.36%, to $17.89. INDEXES: The Dow fell 117.16, or 0.65%, to 17,959.03, the Nasdaq gained 9.55, or 0.19%, to 4,992.38, and the S&P 500 declined 10.23, or 0.49%, to 2,089.27.
13:09 EDTTAT&T to pay $40M after missing appeal deadline, Bloomberg reports
AT&T is required to pay $40M in a patent infringement case because the company's lawyers failed to read a court document, reports Bloomberg. An appeals court ruled that AT&T missed the deadline to appeal a jury verdict for $27.5M, plus interest, won by Two-Way Media LLC. AT&T said its missed deadline was “excusable neglect” because of the incorrect docket entry, but the U.S. Court of Appeals for the Federal Circuit said others were given the information needed and refused to extend the time period for the appeal. Reference Link
13:00 EDTTOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with Nasdaq slightly higher and the Dow and S&P 500 both down a bit more than 0.5%. The day’s economic reports were generally benign and are likely less significant to the trading action than participants having had some time to digest yesterday’s Fed comments. Immediately after the Fed's policy statement yesterday, the U.S. dollar fell as low as 1.10 against the euro, but that move was almost entirely reversed overnight. The dollar was back near pre-Fed levels against the euro early this morning, and similar moves were seen in pairs of the dollar and other major currencies. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. In Europe, the Swiss National Bank left rates unchanged, cut its growth forecasts for the country's economy, said that it will intervene in currency markets as needed since it believes the Swiss Franc remains overvalued. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average today, replacing AT&T (T). Shares of the iPhone maker were down 0.5% near midday, while AT&T stock fell a bit more than 1%... Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $98.50 earlier this afternoon following the company's investor day meeting yesterday. In conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. MAJOR MOVERS: Among the notable gainers was Coronado Biosciences (CNDO), which gained 42% after announcing the formation of a new company, Mustang Therapeutics, focused on Chimeric Antigen Receptor, or CAR-T, technology. The company also announced a licensing agreement with NeuPharma for EGFR inhibitors. Also higher was Guess (GES), which gained 15% after reporting higher than expected profits for its fiscal fourth quarter. Among the noteworthy losers was Transocean (RIG), which fell 6% after having announced last night that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI (E) for the Transocean Amirante was terminated. Transocean also said it intends to scrap four rigs, noting that with those it has announced plans to scrap a total of 16 floaters. Also lower following its earnings report was diversified apparel company Vince Holding (VNCE), which fell 16%. INDEXES: Near midday, the Dow was down 128.51, or 0.71%, to 17,947.68, the Nasdaq was up 3.15, or 0.06%, to 4,985.98, and the S&P 500 was down 13.36, or 0.64%, to 2,086.14.
09:05 EDTTApple up fractionally in pre-market trade ahead of Dow entry
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08:14 EDTERICWorst case scenario unlikely for Ericsson in Apple lawsuit, says Bernstein
Noting that Apple (AAPL) and Ericsson (ERIC) are involved in patent litigation in which Apple has asked the court to limit Apple's royalty payments to Ericsson to the smallest saleable component containing Ericsson's technology, Bernstein says that Ericsson's IP revenue would be reduced to almost nothing if the court grants Apple's request. However, the firm does not believe that Apple's request has a good legal rationale, and it thinks that the court is "extremely unlikely" to grant it. As a result, the firm is "relaxed" about Ericsson's outlook. It keeps an Outperform rating on the shares.
07:04 EDTTAmerican Express confirms plans to launch Plenti loyalty program
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06:00 EDTCSCOStocks with implied volatility below IV index mean; CYBR CSCO
Stocks with implied volatility below IV index mean; CyberArk (CYBR) 69, Cisco (CSCO) 20 according to iVolatility.
05:50 EDTCSCOTCL and Cisco announce mobile cross-terminal platform, DigiTimes reports
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March 18, 2015
13:59 EDTTT-Mobile announces 'Un-contract,' 'Carrier Freedom' initiatives
Today, during an event held to announce Un-carrier 9.0 − Un-carrier for Business − T-Mobile (TMUS) unveiled two new major Un-carrier initiatives for consumers. First, with T-Mobile’s new "Un-contract," customers will now have more certainty in their wireless pricing than ever before. Consumers and businesses with the Simple Choice rate plan will find that rates won’t go up as long as they’re a T-Mobile customer and keep their plan − and even customers with unlimited 4G LTE will lock in their rates for a minimum of two years. The Un-carrier also launched "Carrier Freedom," a new move where T-Mobile will now cover all outstanding phone and tablet payments up to $650 per line when customers from AT&T (T), Verizon (VZ) or Sprint (S) switch to T-Mobile.
07:30 EDTTAT&T-DirecTV getting less attention than Comcast-Time Warner Cable, Reuters says
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06:16 EDTTAmerican Express to launch Plenti loyalty program this spring, WSJ reports
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05:35 EDTCSCODeutsche Telekom and Cisco launch intercloud services on OpenStack
Deutsche Telekom (DTEGY) and Cisco (CSCO) are announcing a newly developed Intercloud-based services for small- and medium-sized businesses and enterprise customers. The two companies announced their Intercloud collaboration in September 2014. Deutsche Telekom and Cisco are currently setting up the necessary infrastructure for a redundant Intercloud node in Deutsche Telekom's high-performance data centers in Magdeburg and Biere near Berlin, Germany. Deutsche Telekom will deliver sovereign and highly secure services that meet Germany's strict data protection standards to business customers throughout the European region.
March 17, 2015
07:18 EDTERICSatellite & Access Intelligence to hold a exhibition
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March 16, 2015
10:21 EDTCSCOVicor says SynQor power converter claims held to be invalid
In a unanimous decision, the U.S. Court of Appeals for the Federal Circuit in Washington, D.C., on March 13 issued a ruling invalidating key claims of a power converter patent asserted by SynQor Inc. against Vicor Corporation (VICR) and Cisco Systems (CSCO) in litigation currently pending in the United States District Court for the Eastern District of Texas. Reversing a decision of the United States Patent and Trademark Office, the Federal Circuit agreed with Vicor that prior art anticipated certain claims of SynQor's 7,072,190 patent and ordered the USPTO to reconsider the obviousness of the remaining claims. Commenting on the decision, Dr. Patrizio Vinciarelli, Vicor's CEO, stated, "The Federal Circuit decision turns the tables on SynQor, which resorted to attacking competitors and customers with bogus intellectual property after failing in the marketplace with its inferior bus converters. As a company founded on innovation, Vicor respects legitimate IP interests of others. However, Vicor will confront abusive IP litigation where, as here, illegitimate claims are asserted to suppress competition from superior products known not to infringe." Vicor has asserted counterclaims against SynQor. In its counterclaims, Vicor seeks damages for unfair and deceptive trade practices and tortious interference engaged in by SynQor as part of its campaign to discourage customers from using Vicor's superior products so as to monopolize the bus converter market. Vicor will hold SynQor, and its principals, accountable for damages they have intentionally caused.
07:32 EDTCSCOUBM Tech to hold a conference
Enterprise Connect 2015 is being held in Orlando, Florida on March 16-19.
06:09 EDTCSCOStocks with implied volatility below IV index mean; CSCO QCOM
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