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Stock Market & Financial Investment News

News Breaks
January 10, 2014
13:00 EDTYRCW, TGT, SHLD, ICPT, SWS, HTH, CHTPOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday after a report showed that U.S. hiring slowed markedly in December. The averages began the session in positive territory, as a "bad news is good news" attitude appeared to breifly return to the market, but the market never gained upside momentum. The averages crossed into negative territory before the end of the first hour of trading and have drifted in negative ground since then. ECONOMIC EVENTS: In the U.S., employers added 74K jobs in December, which was the smallest jobs gain since January 2011 and fell well short of expectations for 200K jobs to have been added. The unemployment rate unexpectedly fell to 6.7% from 7% in November, but the drop occurred largely because more people stopped looking for work. In China, the nation's trade surplus of $25.6B for December was below the $32.2B surplus expected. Export growth of 4.3% was slower than the prior month and missed expectations, while imports rose by 8.3%, which was more than expected. In Europe, S&P reaffirmed at its AAA rating on Germany with a stable outlook. COMPANY NEWS: Target (TGT) shares slipped 1% after the company increased its estimate of people affected by its recent security breach to 70 million and said additional information may have been stolen. The company also cut its forecast for the fourth quarter performance of its U.S. unit, noting that it now expects same-store sales will fall about 2.5%, compared with a prior view that they would be flat compared to last year. Target stated that its new expectation reflects stronger-than-expected Q4 sales prior to the company’s announcement of its data breach and "meaningfully weaker-than expected" sales since the announcement... Another department store owner, Sears Holdings (SHLD), plunged 12% after forecasting worse than expected fourth quarter losses and saying domestic comparable store sales for the quarter-to-date fell 5.7% at Kmart and 9.2% at Sears stores in the U.S. MAJOR MOVERS: Among the notable gainers was Intercept Pharmaceuticals (ICPT), which rose another 70% after its stock nearly tripled yesterday following the company's trial of obeticholic acid for the treatment of non-alcoholic steatohepatitis being stopped early for efficacy. Also higher was SWS Group (SWS), which rose about 21% to $7.33 near midday after Hilltop Holdings (HTH) offered to buy the rest of SWS that it doesn't already own for $7 a share in cash and Hilltop stock. Hilltop shares also rose nearly 9% after making the proposal. Among the noteworthy losers was Chelsea Therapeutics (CHTP), which fell 29% after the FDA posted briefing documents related to a review of a resubmission for the company's Northera drug. Also lower were shares of trucker YRC Worldwide (YRCW), which declined 13% after members of the International Brotherhood of Teamsters did not approve the memorandum of understanding extension proposal made by the company. INDEXES: Near 1 pm ET, the Dow was down 35.43, or 0.22%, to 16,409.33, the Nasdaq was down 1.71, or 0.04%, to 4,154.49, and the S&P 500 was down 1.10, or 0.06%, to 1,837.03.
News For TGT;SHLD;ICPT;SWS;HTH;CHTP;YRCW From The Last 14 Days
Check below for free stories on TGT;SHLD;ICPT;SWS;HTH;CHTP;YRCW the last two weeks.
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July 30, 2014
10:00 EDTYRCW, ICPTOn The Fly: Analyst Upgrade Summary
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07:35 EDTICPTIntercept upgraded at Nomura
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05:44 EDTYRCWYRC Worldwide upgraded to Market Perform from Underperform at Raymond James
Raymond James upgraded YRC Worldwide to Market Perform citing the company's more secure financial position and the strengthening LTL market.
July 29, 2014
18:35 EDTICPTOn The Fly: After Hours Movers
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16:43 EDTICPTIntercept upgraded to Buy from Neutral at Nomura
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July 18, 2014
18:12 EDTTGTVisa, MasterCard denied bid to dismiss opt-out swipe fee suits, Bloomberg says
Merchants that opted out of the swipe-fee settlement brought their own suits, which Visa (V) and MasterCard (MA) were not approved to dismiss, Bloomberg reports. Merchants such as Target (TGT) and Macy’s (M) pursued their cases after dropping out of an earlier settlement over swipe fees, Bloomberg added. Reference Link

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