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Stock Market & Financial Investment News

News Breaks
August 5, 2014
12:37 EDTTGT, WFM, DG, FDO, DLTR, ECOM, SALE, CHGGOn The Fly: Midday Wrap
Stocks on Wall Street were lower at the open and remained in negative ground throughout the morning. The market broke its losing streak yesterday but is on track to give back those gains if the levels near noon hold into the closing bell. The move lower comes in spite of the day's economic data generally beating expectations. ECONOMIC EVENTS: In the U.S., Markit's services PMI dipped to 60.8 for the final July print from the 61.0 flash estimate for the month. A similar reading from ISM, its non-manufacturing index, climbed to 58.7 in July from June's 56.0 reading. Factory orders rebounded 1.1% in June, which was better than the expected 0.5% increase. COMPANY NEWS: Shares of Target (TGT) fell about 3% after the company pre-announced that it now expects its earnings per share in the second quarter, excluding some items, to come in at 78c, versus its previous guidance of 85c-$1.00. The company expects its comparable sales in the U.S. to be "essentially flat," and it believes the profit margin on its earnings before interest taxes depreciation and amoritzation were lower than expected in Q2. Discounts weighed on the company's margins, as consumers continued to spend cautiously at the company's stores and focus on value, Target reported. The retailer also estimated that the after-effects of its December 2013 data breach cost it $110M in the second quarter... Shares of Whole Foods (WFM) jumped in early trading, with the strength attributed to speculation that activist investor Carl Icahn may have taken a stake in the natural foods grocer, potentially fueled by a tweet from TheStreet's Douglas Kass. Following the circulation of the rumors early in the trading day, Yahoo Finance's Kevin Chupka reported that Carl Icahn has "absolutely no interest in Whole Foods whatsoever," citing sources familiar with the situation. Near noon, shares of Whole Foods were off their highs, but remained up about 2% near $39 per share. MAJOR MOVERS: Among the notable gainers was Chegg (CHGG), which gained 17% after reporting higher than expected quarterly results and that it formed a strategic alliance with Ingram Content Group, the world's largest book distributor. Also higher was Dollar General (DG), which rose 3% after Bloomberg said that the company is exploring a bid for Family Dollar (FDO), which it had previously passed on before the latter announced a deal to be acquired by Dollar Tree (DLTR). Among the noteworthy losers was ChannelAdvisor (ECOM), which dropped 28% after its earnings report was followed by analysts at Stifel and RW Baird lowering their respective price targets on the stock to the low $30 area from $40 per share, where both firms previously had their targets pegged. Also lower following its earnings report was RetailMeNot (SALE), which tumbled 26% after the company last night reported weaker than expected results and cut its guidance and saw RBC Capital downgrade its stock to Sector Perform from Outperform. INDEXES: Near midday, the Dow was down 87.69, or 0.53%, to 16,481.59, the Nasdaq was down 20.02, or 0.46%, to 4,363.87, and the S&P 500 was down 10.89, or 0.56%, to 1,928.10.
News For TGT;WFM;DG;FDO;DLTR;ECOM;SALE;CHGG From The Last 14 Days
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October 2, 2014
09:02 EDTCHGGChegg acquires Internships.com for $10M in cash and $1M in shares
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05:07 EDTFDO, DGDollar General extends tender offer to acquire Family Dollar to Oct. 31
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October 1, 2014
13:52 EDTWFMActivist firm Relational winding down, dissolving funds, WSJ says
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06:06 EDTDG, DLTR, FDOFamily Dollar says proceeding with plans to be acquired by Dollar Tree
Family Dollar (FDO) said in a memo to its employees yesterday that it is proceeding with its plan to be acquired by Dollar Tree (DLTR), even as Dollar General (DG) seeks to break up the deal and acquire Family Dollar. Family Dollar said it is not planning any changes to its health care, 401(k) and compensation plans. Family Dollar comments, "The immediate focus of our work is to prepare for ‘Day 1,’ (the first day after closing), while simultaneously beginning to build a more detailed plan for the integration. We’re now in the ‘integration planning phase,’ which involves planning for the complex blending of our two organizations."
05:57 EDTWFMStocks with implied volatility movement; WFM DOWN
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September 30, 2014
09:55 EDTWFMWhole Foods Markets call active on renewed takeover speculation
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09:42 EDTWFMRumor: Whole Foods moves up on renewed takeover chatter
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September 29, 2014
09:02 EDTECOMNetSuite announces adoption of integrated solution with ChannelAdvisor
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08:14 EDTFDO, DG, DLTRDollar General buying Dollar Tree 'not impossible,' says FBR Capital
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07:40 EDTWFMWhole Foods loyalty card has significant long-term potential, says Oppenheimer
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September 26, 2014
18:01 EDTDG, FDOAttorneys general investigating effects of proposed Family Dollar merger
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September 23, 2014
09:40 EDTWFMWhole Foods checks indicate stabilizing trends, says Detwiler Fenton
September 18, 2014
11:01 EDTTGTTarget to hire 70,000 seasonal workers in 2014, CNBC reports
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09:36 EDTWFMActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL YHOO TWTR VVUS RAD PWE WFM TSLA PIR SHLD

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