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Stock Market & Financial Investment News

News Breaks
April 1, 2012
09:47 EDTBKI, BCE, TGI, CVX, RGR, HITK, M, IBM, DLTRJames Investment Research targets stocks in favored industries, Barron's says
James Investment Research's James Balanced: Golden Rainbow Fund (GLRBX) has been attracting serious attention, having more than doubling its assets to $1.5B since 2009. Part of the reason is that investors, in a cautious mood, have been seeking out balanced funds, says Frank James, founder and chairman of the 37-year-old firm and lead manager of the Golden Rainbow fund. The firm then targets stocks within favored industries. Over the past decade, the fund has consistently lost less than its category peers in down markets, and has done so with less volatility. The fund's top 10 holdings: Triumph Group (TGI), Dollar Tree (DLTR), Hi-Tech Pharmacal (HITK), BCE (BCE), International Business Machines (IBM), Sturm Ruger (RGR), Buckeye Technologies (BKI), Macy’s (M) and Chevron (CVX). Reference Link
News For TGI;DLTR;HITK;BCE;IBM;RGR;BKI;M;CVX From The Last 14 Days
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July 20, 2015
17:20 EDTIBMIBM sees currency impact for FY15 worse than saw 90 days ago
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17:01 EDTIBMIBM sees Q3 revenue similar to Q1 revenue
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16:41 EDTIBMIBM Q2 Cloud revenue up more than 50% as reported
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16:17 EDTIBMIBM revenues from strategic imperatives up more than 20% year-to-date
Revenues from the company’s strategic imperatives --- cloud, analytics, and engagement --- increased more than 20% year-to-date, more than 30% adjusting for currency and the divested System x business. Total cloud revenues increased more than 50%, more than 70% adjusting for currency and the divested System x business year-to-date, and is $8.7B over the last 12 months, adjusted for the divested System x business. The annual run rate for cloud delivered as a service -- a subset of the total cloud revenue -- increased to $4.5B from $2.8B in the second quarter of 2014. Revenues from business analytics increased more than 10%, more than 20% adjusting for currency, year-to-date. Revenues from mobile more than quadrupled, and social revenues increased more than 30%, more than 40% adjusting for currency, both year-to-date.
16:13 EDTIBMIBM reports Q2 revenue from Systems Hardware down 32%
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16:10 EDTIBMIBM reports Q2 revenues from the Software segment were doen 10%
Revenues from the Software segment were down 10% to $5.8B, down 3% adjusting for currency compared with the second quarter of 2014. Revenues from IBM’s key middleware products, which include WebSphere, Information Management, Tivoli, Workforce Solutions and Rational products, were $4B, down 7%, flat adjusting for currency, year-to-year. Operating systems revenues of $0.4B were down 17% percent, down 9% percent adjusting for currency year-to-year.
16:08 EDTIBMIBM reports Q2 Global Technology Services revenues down 10%
Global Technology Services segment revenues were down 10% percent, up 1% percent adjusting for currency and the divested System x business, to $8.1B. Global Business Services segment revenues were down 12%, down 3 percent adjusting for currency, to $4.3B. The estimated services backlog as of June 30 was $122B, up more than 1% year-to-year adjusting for currency.
16:06 EDTIBMIBM backs FY15 EPS $15.75-$16.50, consensus $15.88
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16:04 EDTIBMIBM reports Q2 EPS $3.84, consensus $3.78
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16:01 EDTIBMOptions Update; July 20, 2015
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15:10 EDTIBMIBM July weekly 172.5 straddle priced for 4.1% movement into Q2
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15:07 EDTIBMIBM July weekly volatility elevated into Q2 and outlook
IBM July weekly call option implied volatility is at 48, August is at 23, September is at 19 compared to its 52-week range of 12 to 28, suggesting large near term price movement into the expected release of Q2 results on July 20.
15:01 EDTIBMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include IBM (IBM), consensus $3.78... Canadian National Railway (CNI), consensus $1.05... Crown Holdings (CCK), consensus $1.01... Zions Bancorp (ZION), consensus 38c... Hexcel (HXL), consensus 61c... Brown & Brown (BRO), consensus 44c... Steel Dynamics (STLD), consensus 22c... Werner (WERN), consensus 42c.
13:46 EDTMAmazon seen eclipsing Macy's as top U.S. clothing retailer
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12:40 EDTIBMEarnings Watch: IBM up 4% since last quarterly report
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10:45 EDTIBMIBM technical comments ahead of earnings
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08:08 EDTMMacy's price target to $78 on likelihood of a REIT transaction at BofA/Merrill
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July 19, 2015
18:13 EDTMMacy's considered, rejected sale/lease-backs in past, WSJ says
Macy's (M) executives have considered sale/lease-backs "over the years" and have come to negative conclusions, reports the Wall Street Journal, citing people familiar with the company. The report comes in the wake of Starboard Value pressuring Macy's to spin off its real estate, and sources said the activist investor sees several options, including a REIT, a Hudson’s Bay’s-style real estate partnership, a sale/lease-back, or borrowing money against the properties. Separately, a source said Target (T) is still reluctant to relinquish control over its real estate. Reference Link
July 17, 2015
17:26 EDTIBMBAE Systems, others awarded $6B government contract
American Systems, Chantilly, Virginia; BAE Systems (BAESY), McLean, Virginia; Blue Canopy, Reston, Virginia; The Boeing Co. (BA), Annapolis Junction, Maryland; Booz Allen Hamilton, McLean, Virginia; CACI (CACI), Chantilly, Virginia; CGI Federal, Fairfax, Virginia; Computer Sciences Corp. (CSC), Falls Church, Virginia; D&S Consultants Inc., Eatontown, New Jersey; EIS, Vienna, Virginia; General Dynamics Information Technology (GD), Herndon, Virginia; HP Enterprise Services, Herndon, Virginia; IBM (IBM), Reston, Virginia; Intelligent Decisions, Ashburn, Virginia; K Force Government Solutions, Fairfax, Virginia; L3 National Security Solutions, Reston, Virginia; Leidos (LDOS), Reston, Virginia; Lockheed Martin Corp. (LMT) Gaithersburg, Maryland; ManTech/WINS, Fairfax, Virginia; Northrop Grumman (NOC), Chantilly, Virginia; Pragmatics, Reston, Virginia; Raytheon IIS Group (RTN), Dulles, Virginia; Scientific Research Corp., Atlanta, Georgia; Sotera, Herndon, Virginia; SRA International, Fairfax, Virginia; 22nd Century Technologies, McLean, Virginia; AEEC LLC, Reston, Virginia; American Technology Solutions International, Fredericksburg, Virginia; Berico Technologies, Reston, Virginia; The Buffalo Group, Reston, Virginia; Convergent Solutions Inc., Alexandria, Virginia; Criterion Systems Inc., Vienna, Virginia; Cyberspace Solutions, Reston, Virginia; DAn Solutions Inc., McLean, Virginia; DKW Communications, Washington, District of Columbia; E-Volve Technology Systems, National Harbor, Maryland; Federated IT, Washington, District of Columbia; Intrepid Solutions & Services Inc., Reston, Virginia; The Kenjya Group, Columbia, Maryland; New River Systems, Sterling, Virginia; OCCAM Solutions, McLean, Virginia; QVine Corp., Reston, Virginia; Red Arch Solutions, Columbia, Maryland; Riite, Chantilly, Virginia; Soft Tech Consulting, Chantilly, Virginia; Trusted Mission Solutions, McLean, Virginia; Varen Technologies, Columbia, Maryland; Vykin Corp., Tampa, Florida; Xcelerate Solutions, McLean, Virginia; and Zolon Tech Inc., Herndon, Virginia, were awarded an indefinite-delivery/indefinite-quantity, multiple-award contract with a combined ceiling value of $6B. The Enhanced Solutions for the Information Technology Enterprise contract supports information technology requirements across the Defense intelligence enterprise and the greater intelligence community. Work will be performed worldwide with an estimated completion date of July 16, 2020. The E-SITE contract vehicle was solicited on the basis of full and open competition, and 77 proposals were received. After conducting a thorough evaluation based on the request for proposal criteria, contracts are being awarded to 25 large businesses and 25 small businesses. Each company will be awarded a $500 minimum guarantee and additional funding will be obligated on individual task orders with the initial follow-on task order competitions scheduled this summer. The Virginia Contracting Activity, Washington, District of Columbia, is the contracting activity.
16:41 EDTMStocks end week higher as Google, Greece bring out the buyers
Stocks ended the week higher and the major averages are back at record highs after Iran agreed to a nuclear deal, Greece's parliament paved the way for the country to receive another bailout by agreeing to new austerity measures and Google (GOOG) gave investors hope that earnings from tech's other heavyweights will be similarly better than expected. MACRO NEWS: In the U.S., retail sales unexpectedly fell 0.3% in June, versus the consensus forecast for growth of 0.3%. The producer prices index showed prices rose 0.4% in June, versus expectations for an increase of 0.2%. The consumer price index rose a seasonally adjusted 0.3% in June from a month earlier, matching the consensus forecast. Compared with last year, consumer prices rose 0.1%, marking the first annual increase since December. Housing starts rose 9.8% to a 1.17M rate in June and building permits rose 7.4% to a 1.34M pace, both of which topped expectations. The NAHB homebuilder sentiment index for July came in at 60, a point better than forecast. The University of Michigan's consumer sentiment reading dropped to 93.3 in the preliminary July figure, which was below the 96.0 reading that was expected. During testimony before Congress, Federal Reserve Chair Janet Yellen stayed on message, stating that the central bank is on track to raise record-low interest rates this year, so long as the labor market and the economy keep improving... In China, exports rose 2.1% from a year earlier during June and imports dropped 6.7%, leaving a trade surplus of $45.8B for the month, the nation's customs administration reported. The nation's GDP was reported to have grown 7% in the second quarter from a year earlier, beating the consensus expectation for growth of 6.8%... In Europe, Greek lawmakers passed the country's austerity agreement and Euro-area finance ministers reportedly agreed in principle to extend a bridge loan to Greece. The loan should help keep Greece afloat while its Prime Minister negotiates the details of the country's latest bailout... Iran reached a deal on restrictions and inspections intended to prevent it from developing nuclear weapons in exchange for the lifting of economic sanctions by six world powers. The agreement still faces a political fight in the U.S. before taking effect, but President Barack Obama has vowed to veto any congressional effort to block its implementation. COMPANY NEWS: Class A shares of Google (GOOG, GOOGL) surged at the end of the week after the search giant reported better than expected revenues and earnings in the second quarter. Research firms all over Wall Street raised their price targets on the stock in the wake of the report... Netflix (NFLX) rallied to a split-adjusted all-time high after the streaming service operator reported stronger than expected second quarter results, including higher than expected Q2 subscriber metrics, prompting a large number of research firms to raise their price targets on the stock... Many of the nation's largest banks reported on their results in the second quarter this week. JPMorgan (JPM), Bank of America (BAC) and Citigroup (C) all posted quarterly profits, excluding certain items, that beat the average estimates of analysts. Wells Fargo (WFC) reported earnings in-line with consensus estimates and revenue somewhat below expectations, while Goldman Sachs (GS) reported headline earnings that appeared to fall far short of the consensus forecast. However, that was due to Goldman's nearly $1.5B in provisions for litigation and regulatory matters. Excluding those provisions, the bank's earnings were ahead of consensus... On the M&A front, Receptos (RCPT) advanced after Celgene (CELG) announced a deal to buy the smaller drugmaker for $232 per share in cash, or a total of about $7.2B net of cash acquired. A number of research firms applauded the deal, especially noting the price Celgene agreed to pay, but cautioned that a rival bidder may still emerge for Receptos. Marathon Petroleum (MPC) gained after MPLX (MPLX), the company's fee-based master limited partnership, agreed to acquire MarkWest Energy (MWE) in a cash and stock deal that implies a total enterprise value for MarkWest of approximately $20B, including the assumption of debt of approximately $4.2B. Micron (MU) rose after The Wall Street Journal reported that China's state-owned Tsinghua Unigroup had offered to acquire the memory chip maker for $23B, or $21 per share... Shares of Twitter (TWTR) spiked Tuesday morning after a questionable takeover report was published on a website that mimicked, but had a different web address, than Bloomberg News. A Bloomberg spokesman said soon afterward that the Twitter takeover story being attributed to the news service was a fake, while a Twitter spokesperson also denied the report of an alleged deal... Macy's (M) jumped after Starboard CEO Jeffrey Smith called the stock his "best idea" for 2015, adding that the shares could be worth $125 each if the company takes steps to maximize the value of its real estate holdings. Amazon (AMZN) announced it sold more units on its first "Prime Day" than the biggest Black Friday ever and had more new members try its Prime service worldwide than any single day in company history. The e-commerce giant noted that its worldwide order growth increased 266% over the same day last year and 18% more than Black Friday 2014, adding that it will "definitely be" doing another Prime Day in the future. A number of semiconductor equipment stocks, including Applied Materials (AMAT) and Lam Research (LRCX), dropped after Intel (INTC) cut its capital expenditures guidance while reporting on its quarterly results. INDEXES: For the week, the Dow gained about 1.05% to close at 18,086.45, the Nasdaq advanced about 3.37% to close at 5,210.14, and the S&P 500 rose about 1.67% to close at 2,126.64.
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