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Stock Market & Financial Investment News

News Breaks
May 21, 2014
12:38 EDTBAH, PETM, PHH, TIF, OGZPY, AEO, TGTOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, with the Dow's triple digit gain recapturing most of what had been lost by the blue chip index yesterday. Stock futures improved during pre-market trading, leading to a positive open for the broader market, but the averages have moved in a narrow range since the opening half hour of trading. Investors now await the release of the minutes from the Fed's last rate-setting meeting to see if there was any change in the language surrounding itís monetary policy. ECONOMIC EVENTS: In the U.S., the Federal Reserve will release the minutes from its April FOMC meeting at 2 pm ET. In Asia, the Bank of Japan left its policies unchanged, as was widely expected, but its outlook on capital spending was upgraded. Also, central bank head Haruhiko Kuroda signaled he wasn't preparing further monetary easing soon and reiterated his optimism that Japan is on track to meet the bank's 2% inflation target. Also, China and Russia's Gazprom (OGZPY) signed a natural gas contract said to be worth a total of $400B over the 30-year life of the agreement. COMPANY NEWS: Shares of Target (TGT) were marginally lower near noon after the retailer reported slightly lower than expected adjusted earnings for its first quarter and lowered its adjusted profits outlook for the fiscal year. The company said that while it was pleased with its "continued recovery" from its well-publicized data breach, that its needs to "move more quickly" and is investing additional resources to drive U.S. traffic and sales, resulting in its lowered earnings expectations. MAJOR MOVERS: Among the notable gainers was luxury retailer Tiffany (TIF), which climbed 8.5% after the company reported significantly stronger than expected results and raised its full-year profit guidance. Also higher was PHH Corp. (PHH), which rose more than 16% after Reuters said a Canadian equipment finance company is in exclusive talks to buy PHH's fleet leasing business for about $1.35B in cash. Among the noteworthy losers was pet products and services supplier PetSmart (PETM), whose shares sunk over 7.5% after the company reported mixed first quarter results and issued a weaker than expected profit outlook. Also lower following their earnings reports were government consultant Booz Allen Hamilton (BAH), which fell 10%, and apparel retailer American Eagle Outfitters (AEO), which dropped more than 5%. INDEXES: Near midday, the Dow was up 134.02, or 0.82%, to 16,508.33, the Nasdaq was up 21.40, or 0.52%, to 4,118.29, and the S&P 500 was up 10.56, or 0.56%, to 1,883.39.
News For TGT;TIF;PETM;AEO;PHH;BAH;OGZPY From The Last 14 Days
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December 15, 2014
12:37 EDTPETMOn The Fly: Midday Wrap
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11:59 EDTPETMRival bid for PetSmart still possible, The Deal says
PetSmart has agreed to be acquired by a BC Partners led consortium for $83 per share, though Leonard Green & Partners and TPG, the private equity backers of Petco that were not allowed to participate in the auction process because of competition concerns, could still make a rival offer, according to The Deal Pipeline, citing a source familiar with the situation. Reference Link
10:23 EDTPETMOptions with decreasing implied volatility
Options with decreasing implied volatility: LE CIEN LULU PETM RH ATHN ADBE
09:27 EDTPETMOn The Fly: Pre-market Movers
HIGHER: Opko Health (OPK), up 13.1% after Pfizer (PFE) and OPKO Health enter into global agreement for hGH-CTP... Cirrus Logic (CRUS), up 7.5% after being upgraded to Overweight from Underweight at Barclays... PetSmart (PETM), up 4.7% after being acquired by BC Partners led consortium for $83 per share... Sohu.com (SOHU), up 3% after being upgraded to Overweight from Neutral at JPMorgan... Oracle (ORCL), up 2.2% after receiving FedRAMP provisional authority to operate. LOWER: Unwired Planet (UPIP), down 25.7% after commenting on Google (GOOG) Markman ruling... EXCO Resources (XCO), down 13% after suspending its dividend.
07:40 EDTPETMPetSmart volatility up into acquisition by BC Partners consortium for $8.7B
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05:49 EDTPETMPetSmart unlikely to receive higher takeover bid, says RW Baird
RW Baird analyst Peter Benedict says PetSmart is unlikely to receive a higher takeover bid compared to the $83 per share that BC Partners is paying to take the company private. Benedict notes that PetSmart had been in a process of reviewing multiple bids before last night's merger announcement. He raised his price target for the stock to $83 from $78 and keeps a Neutral rating on the pet store owner.
December 14, 2014
17:31 EDTPETMPetSmart to be acquired by BC Partners led consortium for $83 per share
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15:23 EDTPETMApollo close to $8B leveraged buyout of PetSmart, Bloomberg says
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December 12, 2014
06:12 EDTAEOStocks with implied volatility below IV index mean; AEO CBST
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December 11, 2014
10:24 EDTAEOOptions with decreasing implied volatility
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December 10, 2014
13:51 EDTPHHT. Rowe Price reports 11.2% passive stake in PHH Corp.
10:20 EDTAEOOptions with decreasing implied volatility
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10:10 EDTPHHHigh option volume stocks
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10:00 EDTAEOOn The Fly: Analyst Upgrade Summary
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08:47 EDTAEOAmerican Eagle upgraded at BMO Capital
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06:11 EDTAEOAmerican Eagle upgraded to Outperform from Market Perform at BMO Capital
December 9, 2014
10:23 EDTAEOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Eagle (AEO) upgraded to Outperform from Perform at Oppenheimer... Concho Resources (CXO) upgraded to Outperform from Neutral at Macquarie... Hanmi Financial (HAFC) upgraded to Outperform from Market Perform at FBR Capital... LHC Group (LHCG) upgraded to Outperform from Underperform at Credit Suisse... Lincoln Electric (LECO) upgraded to Buy from Neutral at Longbow... Northeast Utilities (NU) upgraded to Outperform from Neutral at Macquarie... SM Energy (SM) upgraded to Outperform from Neutral at Macquarie... Volcano (VOLC) upgraded at Needham... Wells Fargo sees fewer distractions for lululemon (LULU), upgrades shares... Xcel Energy (XEL) upgraded to Outperform from Neutral at Macquarie... lululemon (LULU) upgraded to Outperform from Market Perform at Wells Fargo.
05:56 EDTAEOAmerican Eagle upgraded to Outperform from Perform at Oppenheimer
Oppenheimer upgraded American Eagle to Outperform with a $14 price target.
December 8, 2014
10:20 EDTAEOOptions with decreasing implied volatility
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06:21 EDTPETMDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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