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Stock Market & Financial Investment News

News Breaks
August 20, 2014
12:37 EDTIFNNY, TGT, SFLY, IRF, HTZ, LOWOn The Fly: Midday Wrap
The market opened in negative territory, but within striking distance of the flat line. There was little in the way of major news that investors could use to push the market higher as they moved to the sidelines ahead of this afternoonís release of the minutes of last monthís FOMC meeting. After spending most of the morning mixed, the each of the major equity averages has crossed into positive territory, albeit just barely. The Fedís minutes will be released at 2:00 pm ET. ECONOMIC EVENTS: The Mortgage Bankers' Association Purchase Applications showed a week-over-week drop of -0.4% in the purchase index, but a 3% rise in the refinance index... The EIA Petroleum Status Report showed a 4.5M draw in oil inventories to 362.5M barrels during last week. COMPANY NEWS: Target (TGT) reported Q2 earnings that missed on the bottom line by 1c but beat slightly on the top line, and the company cut its FY14 EPS view to $3.10-$3.30 from $3.60-$3.90. Target is trading up over 1% in midday trading... Lowe's (LOW) reported better-than-expected Q2 earnings and said it sees FY14 EPS approximately $2.63, above the consensus of $2.61. Lowe's is trading up fractionally. MAJOR MOVERS: International Rectifier (IRF) is up 47% after being acquired by Infineon (IFNNY) for $40 per share in cash... Hertz (HTZ) is down more than 9% after the company withdrew its FY14 guidance, saying it expects to be "well below" the low end of the guidance... Shutterfly (SFLY) is up over 3% after Bloomberg reported that private equity firms are bidding on the company. INDEXES: Near midday, the Dow was up 33.38, or 0.2%, to 16,952.97, the Nasdaq was up 0.55, or 0.01%, to 4,528.07, and the S&P 500 was up 1.99, or 0.1%, to 1,983.59.
News For TGT;LOW;IRF;IFNNY;HTZ;SFLY From The Last 14 Days
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July 20, 2015
13:46 EDTTGTAmazon seen eclipsing Macy's as top U.S. clothing retailer
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06:49 EDTLOWDeutsche goes below consensus on Home Depot, Lowe's
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06:27 EDTHTZHertz reinstated with an Outperform at Credit Suisse
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July 19, 2015
18:13 EDTTGTMacy'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 Hudsonís Bayís-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
16:24 EDTHTZOn The Fly: Top stock stories for Friday
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12:38 EDTHTZOn The Fly: Top stock stories at midday
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09:25 EDTHTZHertz restatements a 'game changer,' says Deutsche Bank
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09:24 EDTHTZHertz strength a selling opportunity, says Morgan Stanley
Morgan Stanley said Hertz is up to date on SEC filings and provided 2015 guidance that appears better than consensus. The firm believes consensus estimates are mostly "stale" numbers since the company has not filed in 18 months. Morgan Stanley would use the spike in shares to reduce exposure and maintains its Equal Weight rating.
09:07 EDTHTZOn The Fly: Pre-market Movers
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08:13 EDTHTZHertz 2015 EBITDA guidance better than feared, says Wells Fargo
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07:29 EDTHTZHertz volatility flat into financial restatement
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July 16, 2015
19:04 EDTHTZOn The Fly: After Hours Movers
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16:50 EDTHTZHertz rallies sharply in the extended session
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16:43 EDTHTZHertz up 15.4% after identifying accounting mistatements from FY11-FY13
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16:41 EDTHTZHertz identified accounting misstatements for FY11-FY13
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16:34 EDTHTZHertz sees $300M in annualized cost savings by end of FY15
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16:32 EDTHTZHertz expects HERC separation to be completed in Q2 of 2016
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16:29 EDTHTZHertz reaffirms plan to repurchase up to $1B of shares
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16:24 EDTHTZHertz sees FY15 U.S. RAC fleet capacity growth 0.5%-1.5%
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15:58 EDTLOWHome improvement stocks slide after Sherwin-Williams cuts view
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