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Stock Market & Financial Investment News

News Breaks
February 19, 2014
08:49 EDTTGT, FB, AAPL, TWTR, BBRY, BX, AIG, NFLX, QCOM, NVS, GIS, SSNLF, T, BAC, ACT, IDCCOn the Fly: Periodicals Wrap
WSJ: AT&T (T) discloses national security requests for thousands of accounts...China acknowledges anti-monopoly probe of Qualcomm (QCOM), InterDigital (IDCC)...Samsung (SSNLF) sees mix of hardware, software for distribution platform...Netflix (NFLX) faces video slowdown as broadband fee issues debated...Actavis (ACT) expected to seek more deals...REUTERS: General Mills (GIS) seeks deals in fast growing emerging markets...AIG (AIG) accused of holding BofA (BAC) $8.5B settlement 'hostage'...Novartis (NVS) Tokyo unit raided by prosecutors...BLOOMBERG: Blackstone (BX) acquires minority stake in Senator Investment Group...BlackBerry (BBRY) CEO blasts T-Mobile for pushing change to iPhones (AAPL)...OTHER NEWS: Banks' cost for Target (TGT) data breach over $200M, AP reports...Twitter (TWTR) could look to follow Facebook (FB) as app distribution platform, Re/code reports.
News For T;QCOM;IDCC;SSNLF;NFLX;ACT;GIS;AIG;BAC;NVS;BX;BBRY;AAPL;TGT;TWTR;FB From The Last 14 Days
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May 10, 2015
16:46 EDTBXBlackstone says SEC requests information on fee practices, vendor discounts
In a regulatory filing Friday, Blackstone stated, "The SEC has publicly indicated that it is focused on private equity practices regarding fees and other conflicts of interest including the... practice of receiving fees from portfolio companies in connection with termination of monitoring agreements upon the initial public offering or disposition of such companies. The SEC reviewed our monitoring fee practices in 2011-2012 in their regular exam process... In June 2014, we voluntarily modified our monitoring fee practices... including eliminating any such payments beyond the year of sale for full dispositions and limiting payments following IPOs. Recently, the SEC has informally requested additional information about our historical monitoring fee termination practices. The SEC also has asked for additional information about certain pre-2011 practices relating to the application of disparate vendor discounts to Blackstone and to our funds that were changed in 2011 and had also been previously reviewed by the SEC in 2012. We are in discussions with the SEC regarding a potential resolution of these matters."
May 8, 2015
16:05 EDTTWTR, AAPL, BACOptions Update; May 8, 2015
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13:32 EDTQCOMParkerVision weakness attributed to patent appeal proceedings
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13:11 EDTACTEarnings Watch: Actavis to report quarterly results after Allergan acquisition
Actavis (ACT) is scheduled to report first quarter earnings before the market open on Monday, May 11 with a conference call scheduled for 8:00 am ET. Actavis, a specialty pharmaceutical company, develops, manufactures, markets, and distributes generic, branded generic, branded, biosimilar, and over-the-counter pharmaceutical products. EXPECTATIONS: Analysts are looking for earnings per share of $3.94 on revenue of $4.04B, according to First Call. The consensus range for EPS is $3.81-$4.06 on revenue of $3.79B-$4.22B. LAST QUARTER: Actavis reported fourth quarter EPS of $3.91, compared to consensus estimates of $3.67, on revenue of $4.01B against estimates of $3.84B. Actavis CEO Brent Saunders commented on the quarter: "In our North American Brands business, six of our top ten brand products saw double-digit growth, including our strongest performers Namenda franchise, Linzess, Estrace Cream, Teflaro and Bystolic. In our North American Generics business, strong results were driven by continued performance of our generic versions of Lidoderm and Concerta, and fourth quarter launches of generic versions of Intuniv and Celebrex. We continue to invest in expanding our brand and generic portfolios, with nine new product and line extension launches planned in 2015, and industry-leading expansion of our generic pipeline, with 44 Abbreviated New Drug Applications submitted in 2014." NEWS: On March 17, Actavis announced that it had completed the acquisition of Allergan (AGN) in a cash and equity transaction valued at approximately $70.5B. The combination creates one of the world’s top 10 pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23B anticipated in 2015. STREET RESEARCH: On April 8, Leerink analyst Jason Gerberry raised his price target for Actavis shares by $20 to $348 to account for the closing of the Allergan acquisition. Gerberry said he thinks the deal will result in higher overall company gross margins in 2015. He raised his revenue and earnings estimates for Actavis ahead of the company's Q1 results and reiterated an Outperform rating on the stock. PRICE ACTION: Actavis shares are up almost 3% since the company's last earnings report on February 18, and are trading up 2.4% in midday trading ahead of Monday's earnings release.
13:09 EDTTWTR, FB, NFLXCiti says 'sell in May, go away' on Twitter, LinkedIn, Zillow
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11:49 EDTTWTRStocks with call strike movement; TWTR JD
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10:01 EDTACTOn The Fly: Analyst Initiation Summary
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09:36 EDTBAC, AAPL, FB, NFLXActive equity options trading on open:
Active equity options trading on open: AAPL BABA FB DIS MSFT TSLA NFLX AMZN BAC
08:49 EDTFBAOL CEO sees doing 'more and more things' with messaging, social platforms
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08:47 EDTACTLeerink's specialty pharma/generics analyst has analyst/industry conference call
Specialty Pharmaceuticals/Generics Analyst Gerberry discuss the future of dry eye treatment and the data and outlook for pipeline agents Shire's Lifitegrast and Eleven Biotherapeutics' EBI-005 and expectations for Actavis' Restasis use, assuming future approval of one or more pipeline agents, on an Analyst/Industry conference call to be held on May 12 at 10:30 am.
07:38 EDTFBJefferies puts Google atop list of potential Yelp buyers
Jefferies laid out potential buyers for Yelp (YELP) after the Wall Street Journal reported that the company hired bankers to explore a sale. A Google (GOOG, GOOGL), Yelp (YELP) combination makes the most sense, the firm believes. It points out Google unsuccessfully tried to buy Yelp for $550M in 2009. Other potential buyers include Facebook (FB), Priceline (PCLN), GrubHub (GRUB) and Yahoo (YHOO), the firm notes. Jefferies views Yelp as a highly valuable asset and keeps a Buy rating on the stock with a $79 price target. Deutsche Bank today pegged the chances of a Yelp buyout at 60% and estimates a takeout price between $59 and $85 per share. The stock closed yesterday up $8.79 to $47.01 following the Journal's report.
06:48 EDTBACBanks to erase debt of bankrupt consumers from reports, NY Times says
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06:35 EDTBACShareholder support for Bank of America board drops, Reuters says
None of the four Bank of America directors up for reelection this week received more than 71.9% of votes, according to Reuters. Last year, none of the directors received less than 98% of votes, the news service stated. Reference Link
06:22 EDTFB, NFLX, TWTRCitigroup sees internet stocks underperforming this summer
Citigroup analyst Mark May says that even with the recent share pullbacks, the broader internet index has still meaningfully outperformed broader indices year-to-date. The group is nearing peak valuations, which could lead to underperformance through the summer, May tells investors today in a research note. He recommends avoiding shares of Twitter (TWTR), LinkedIn (LNKD) and Zillow Group (Z), as the companies are going through business transitions. The analyst believes Amazon.com (AMZN), eBay (EBAY), Yelp (YELP), Netflix (NFLX), GrubHub (GRUB) and Facebook (FB) have company specific factors that should enable them to outperform the internet group over the near term.
06:13 EDTACTActavis initiated with a Buy at Mizuho
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06:05 EDTBBRYBlackBerry implied volatility of 38 at lower end of index mean range
06:02 EDTNFLXStocks with implied volatility below IV index mean; LNKD NFLX
Stocks with implied volatility below IV index mean; LinkedIn (LNKD) 29, Netflix (NFLX) 26 according to iVolatility.
06:02 EDTTGTWal-Mart expects to invest C$350M in Canadian market
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05:25 EDTAAPLEricsson files suits against Apple in Germany, UK, Netherlands
Ericsson (ERIC) has filed suits against Apple (AAPL) in Germany, the United Kingdom and the Netherlands. Ericsson had offered to enter into arbitration with Apple to reach a mutually beneficial global licensing agreement for its standard-essential patents, but that offer has now expired. The proceedings in the three countries were recently initiated and refer to the 2G and 4G/LTE standards, as well as other technology that is not standardized, but is related to, for instance, the design of semiconductor components and non-cellular wireless communications.
05:15 EDTNVSNovartis drug Zykadia gains EU approval
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