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Stock Market & Financial Investment News

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November 26, 2012
16:20 EDTARO, KCG, MHP, HOGS, FB, M, ZLC, EBAY, APO, TGTOn The Fly: Closing Wrap
Stocks on Wall Street were mixed on the day with the Nasdaq the only one of the major averages to finish in positive territory. Several major retailers, including Target (TGT) and Macy's (M), traded lower on the session, despite numbers out of the National Retail Federation indicating consumer spending increased 13% over the holiday weekend compared to a year ago... ECONOMIC EVENTS: In the U.S., the Dallas Fed manufacturing survey for November came in at -2.8, versus forecasts for a +2.5 reading. Also, Mary Schapiro stepped down as the head of the Securities and Exchange Commission and President Obama designated current SEC Commissioner Elisse Walter to take over the position. In Europe, the Bank of England named Mark Carney, who is currently the head of Canada’s central bank, as its next governor... COMPANY NEWS: McGraw-Hill (MHP) advanced 20c, or 0.40%, to $51.89 after confirming it reached a deal to sell its education business to Apollo Global Management (APO) for $2.5B... Shares of Facebook (FB) traded up $1.94, or 8.09%, to $25.94 after Bernstein upgraded the stock to Outperform and BTIG raised its rating on the name to Neutral... A CNBC report just after midday said that Knight Capital (KCG) was exploring a sale of the whole company, not just its market-making business, as had been reported earlier. The CNBC report said that the price being discussed for a sale of the company was in the $600M-$700M range and shares gained 33c, or 13.25%, to $2.82... MAJOR MOVERS: Among notable gainers were shares of eBay (EBAY), up $2.39, or 4.88%, to $51.40 after various reports indicated growth in "Cyber Monday" sales, including a note from ChannelAdvisor that said client sales on the site were up 57% from a year ago. Also higher were shares of Zhongpin (HOGS), up $1.64, or 15.10%, to $12.50 after after agreeing to a "go private" offer for $13.50 per share. Among the noteworthy losers was Aeropostale (ARO), which fell 68c, or 4.71%, to $13.77 following a downgrade to Neutral at Janney Capital. Also trading lower were shares of Zale (ZLC), down 25c, or 4.97%, to $4.78 as Bank of America Merrill Lynch removed the stock from its "Most Attractive Buy" list... INDICES: The Dow was down 42.31, or 0.33%, to 12,967.37; the Nasdaq was up 9.93, or 0.33%, to 2,976.78; and the S&P 500 was down 2.86, or 0.20%, to 1,406.29.
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September 29, 2015
16:00 EDTFBOptions Update; September 29, 2015
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11:05 EDTFBComcast launches video platform Watchable, Business Insider reports
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09:35 EDTFBActive equity options trading on open
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07:11 EDTTGTWal-Mart expands pick-up service to new markets, Fortune says
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September 28, 2015
19:57 EDTTGTRetailers urge courts to reject Visa, MasterCard settlement, Reuters says
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16:00 EDTFBOptions Update; September 28, 2015
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10:18 EDTMJ.C. Penney rises after CEO meeting prompts upgrade
Shares of J.C. Penney (JCP) are rising in morning trading after a Sterne Agee CRT analyst upgraded the retailer to Buy with a $13 price target following a meeting with the company's new chief executive officer. WHAT'S NEW: Sterne Agee CRT analyst Charles Grom upgraded J.C. Penney this morning to Buy from Neutral with a $13 price target after recently spending time with new CEO Marvin Ellison at the company's headquarters. Grom said he came away from the meeting "more confident" in the company's turnaround plan, adding that Ellison has the "right demeanor" and business sense to lead the company and "right the ship." Ellison took over as CEO of the retailer on August 1, replacing previous CEO Myron "Mike" Ullman. Sterne's Grom said that while the firm has previously been critical of the retailer's strategy, he believes the initiatives, led by Ellison, are "refreshing" and could boost the company's EBITDA. Grom thinks Ellison is the right person to help revive J.C. Penney and believes the company can surpass its long-term EBITDA target of $1.2B by 2017, saying that this goal "may prove to be a floor rather than a ceiling." Additionally, the analyst sees "multiple levers" to drive same-store sales higher. Despite his optimism in J.C. Penney's recovery story, the analyst notes that U.S. consumer spending is shifting away from traditional items in department stores toward move service-oriented products, traditional mall traffic trends remain "suppressed" and weather trends across the U.S. in August and September were not "ideal" for mall-based retailers. WHAT'S NOTABLE: J.C. Penney recently named John Tighe as executive vice president and chief merchant, effective October 1. Tighe, most recently senior vice president and senior general merchandise manager for the men's, children's, footwear, handbag and intimate apparel divisions, will succeed Elizabeth "Liz" Sweney, the company said. On August 31, Deutsche Bank analyst Paul Trussell upgraded J.C. Penney to Buy from Hold and raised his price target on the stock to $12 from $10, calling the company a "self-help story." Trussell noted that the company has already improved its merchandise mix and is now moving toward better pricing and fewer markdowns. Trussell said that the company's target of mid-single digit same-store sales growth looks "achievable" and its brands and assortment "look right." OTHERS TO WATCH: Other department store operators include Macy's (M), Kohl's (KSS) and Sears Holdings (SHLD). PRICE ACTION: J.C. Penney is up 1.5% to $9.57 in morning trading and is up nearly 50% year-to-date.
09:36 EDTFB Active equity options trading on open
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09:11 EDTFBCLSA U.S. Internet analyst holds an analyst/industry conference call
Internet Analyst James Lee, along with AdParlor's General Manager, Mladen Raickovic, discuss in detail from a media buyer's point of view, Facebook's advertising trends on an Analyst/Industry conference call to be held on October 2 at 11 am.
08:53 EDTEBAYMercadoLibre downgraded to Sell from Neutral at Citi
Citi downgraded MercadoLibre (MELI) to Sell with an $80 price target citing unfavorable currency moves and slower growth assumptions for Brazil. The stock is three times more expensive than eBay (EBAY), Citi tell investors.
07:38 EDTEBAYBox to hold a user conference
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06:42 EDTTGT, MPerfume makers look to Wal-Mart, Target, WSJ reports
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06:06 EDTFBFacebook 'dramaticlaly' increases virtual reality spending, Financial Times says
Facebook has increased its virtual reality investment since the Oculus acquisitoin and is expected to spend even more over the next decade, reports the Financial Times. Facebook CTO Mike Schroepfer said in an interview, "We are investing more year over year... We've got a multiyear plan for this worked out over a fairly long horizon. Although Schroepfer declined to give specific numbers, Facebook is expected to invest billions of dollars over the next several years. Reference Link
September 25, 2015
16:00 EDTFBOptions Update; September 25, 2015
iPath S&P 500 VIX Short-Term Futures up 66c to 25.09. Option volume leaders: AAPL NFLX BAC FB AU NKE PFE INTC AMZN TSLA
09:34 EDTFBActive equity options trading on open
Active equity options trading on open: AAPL BAC FB NKE NFLX PFE AU TSLA
08:53 EDTMFinish Line says September comps month to date up low single digits
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07:24 EDTKCGUBS to hold a conference
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06:21 EDTFBFacebook's free internet effort in developing countries 'inadequate,' WSJ says
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06:13 EDTFBPiper's Munster sees building virtual reality momentum for Facebook
Piper Jaffray analyst Gene Munster says Facebook's (FB) virtual reality theme is building momentum after its Oculus unit announced a 50% price cut for its mobile VR solution headset to $99. Also announced was that the headset, named Gear VR, will work with five phones versus three in the past. A better virtual reality experience is now available to a larger market and the "critically important" content is growing, Munster tells investors in a research note. Oculus has partnerships with Netflix (NFLX), Hulu, Tivo (TIVO), Sega and Midway to bring their content into Gear VR, Munster points out. He expects Samsung to sell 5M-10M Oculus enabled Gear VR headsets next year, up from around 1M in 2015. Munster maintains an Overweight rating on Facebook with a $146 price target. The stock closed yesterday up 44c to $94.41.
05:58 EDTFBIndian Prime Minister to meet with Apple, Google CEOs, WSJ reports
Indian Prime Minister Narendra Modi will meet this weekend with Google (GOOG) CEO Sundar Pichai, Facebook (FB) founder Mark Zuckerberg and Apple (AAPL) CEO Tim Cook, among others, The Wall Street Journal reports. According to industry insiders, the tech executives will use the visit to push for better market access in India as well as clearer regulation on investment and startups. Reference Link
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