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Stock Market & Financial Investment News

News Breaks
December 27, 2012
16:15 EDTVVUS, TM, JCP, DIOD, QCOR, BCDSOn The Fly: Closing Wrap
Stocks on Wall Street spent almost the entire session in negative territory but the averages recovered most of their losses in the last hour of trading. Headlines from Washington late in the trading day indicated the House of Representatives plans a session for Sunday evening to discuss the fiscal cliff. After opening lower the averages fell to their worst levels just after midday and were trading near those levels before moving sharply higher, and eventually erasing almost all of their losses, during the final 90 minutes of trading... ECONOMIC EVENTS: In the U.S., weekly jobless claims fell 12,000 to 350,000, compared to expectations for claims to remain relatively flat with the prior week. Sales of new homes rose 4.4% in November from October to a seasonally adjusted annual rate of 377,000, beating expectations. Consumer confidence fell to its lowest level since August with a 65.1 reading for December, versus expectations for a 70.0 figure. This morning, Senate Majority Leader Harry Reid warned that there may not be enough time left to reach a budget deal and that the U.S. appears destined to head over the fiscal cliff. However, late day optimism took hold based on plans for the House to reconvene this weekend... COMPANY NEWS: U.S. listed shares of Toyota Motor (TM) gained $2.18, or 2.41%, to $92.54 after the company agreed to a settlement valued over $1B related to previous recalls over claims of accelerator pedal problems... MAJOR MOVERS: Among the notable gainers was BCD Semiconductor (BCDS), which rose $3.43, or 86.18%, to $7.41 after agreeing to be acquired by Diodes (DIOD) for $8.00 per U.S. listed share. Shares of Diodes also gained 23c, or 1.36%, to $17.14. Also higher were shares of VIVUS (VVUS), up 51c, or 3.88%, to $13.67 after the company's CEO was quoted by Financial Times as saying he foresees the potential for using direct-to-consumer advertising and a larger scale sales force to market its Qsymia weight-loss drug. Among the noteworthy losers was Questcor Pharmaceuticals (QCOR), down $2.12, or 7.09%, to $27.78 after the circulation of a Blue Cross/Blue Shield of Michigan document related to coverage of the company's Acthar Gel. Also lower were shares of and J.C. Penney (JCP), down $1.23, or 5.93%, to $19.52 after being mentioned by The Wall Street Journal as a retailer that may face a particularly challenging and important year in 2013... INDICES: The Dow was down 18.28, or 0.14%, to 13,096.31; the Nasdaq was down 4.25, or 0.14%, to 2,985.91; and the S&P 500 was down 1.74, or 0.12%, to 1,418.09.
News For TM;BCDS;DIOD;VVUS;QCOR;JCP From The Last 14 Days
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July 29, 2015
06:14 EDTTMGM, Ford sales rise to level of German luxury auto makers, WSJ says
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July 28, 2015
06:55 EDTTMVolkswagen passes Toyota as largest auto maker by sales, Reuters says
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06:41 EDTTMU.S. regulators pledge to continue auto safety crackdown, WSJ reports
Federal regulators have vowed to continue a crackdown on auto makers when discovering "significant" safety lapses, the Wall Street Journal reports. U.S. Transportation Secretary Anthony Foxx said Monday that he was "encouraged" by conversations with car companies about safety problems, the report says. Publicly traded companies in the space include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
July 27, 2015
19:45 EDTTMScion chief plans to double U.S. sales by 2017, Reuters says
Toyota's Scion brand aims to double its U.S. vehicle sales to more than 100,000 by 2017, reports Reuters, citing statements from Scion chief Doug Murtha. Murtha told reporters that three upcoming Scion vehicle launches will drive the sales boost, adding that he expects 2015 sales to be roughly comparable to 2014 results. Reference Link
July 22, 2015
10:01 EDTJCPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded to Buy at MKM Partners... Agnico Eagle (AEM) upgraded to Buy from Hold at HSBC... Allegiant Travel (ALGT) upgraded to Outperform from Market Perform at Raymond James... Amazon.com (AMZN) upgraded on positive outlook at JMP Securities... Bank of Ireland (IRE) upgraded to Buy from Neutral at Nomura... Canadian Pacific (CP) upgraded to Buy at Canaccord... Carrizo Oil & Gas (CRZO) upgraded to Outperform from Neutral at Credit Suisse... Concho Resources (CXO) upgraded to Outperform from Neutral at Credit Suisse... Crown Castle (CCI) upgraded to Buy from Neutral at Citi... Exxon Mobil (XOM) upgraded to Conviction Buy from Buy at Goldman... Fidelity & Guaranty Life (FGL) upgraded to Outperform from Neutral at Macquarie... First Interstate (FIBK) upgraded to Buy from Hold at Sandler O'Neill... Hess Corp. (HES) upgraded to Outperform from Neutral at Credit Suisse... Intuitive Surgical (ISRG) upgraded to Buy at Canaccord... J.C. Penney (JCP) upgraded to Buy from Neutral at Buckingham... Murphy Oil (MUR) upgraded to Neutral from Underperform at Credit Suisse... Noble Energy (NBL) upgraded to Outperform at Credit Suisse... Packaging Corp. (PKG) upgraded to Outperform from Market Perform at BMO Capital... Prologis (PLD) upgraded to Outperform from Neutral at Baird... Signature Bank (SBNY) upgraded to Strong Buy from Outperform at Raymond James... Sonic Automotive (SAH) upgraded to Buy from Neutral at BofA/Merrill... Tate & Lyle (TATYY) upgraded to Neutral from Sell at Goldman... Technip (TKPPY) upgraded to Neutral from Sell at Goldman... Union Bankshares (UBSH) upgraded to Buy from Neutral at Compass Point... Yamana Gold (AUY) upgraded to Buy from Hold at HSBC... Yara (YARIY) upgraded to Neutral from Underweight at JPMorgan.
08:38 EDTJCPNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
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08:09 EDTJCPJ.C. Penney upgraded to Buy from Neutral at Buckingham
Buckingham upgraded J.C. Penney to Buy and increased its price target to $12 from $9. The firm believes 2H comps could accelerate as initiatives take hold and has increased confidence it the company's ability to hit its 2017 EBITDA target of $1.2B. Buckingham believes FY15 sales comp guidance of 4%-5% is achievable and sees continued gross margin improvement and reduced SG&A levels.
07:18 EDTTMAir bag aging poses threat to millions of U.S. drivers, NBC News reports
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July 21, 2015
18:33 EDTTMToyota to delay building Lexus brand in China, Reuters reports
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12:22 EDTTMFormer Toyota exec plans to make supplier more competitive, Bloomberg says
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11:05 EDTTMAfter Jeep hacked, analyst predicts cybersecurity boosts for Harman, Delphi
After Jeep hacked, analyst predicts cybersecurity boosts for Harman, Delphi The shares of Harman (HAR) and Delphi Automotive (DLPH) are rising after Wells Fargo predicted that the companies would benefit from the increasing need to protect cars from cybersecurity attacks after Wired reported on hackers discovering methods that can be used to take control of vehicles. BACKGROUND: Two computer hacking researchers showed that they could seize control of a Jeep Cherokee, made by Fiat Chrysler (FCAU), using a technique called a zero-day exploit, Wired reported today. Using the same technique, the hackers can control "any of thousands of vehicles," the website reported. In the past, they have demonstrated how they were able to take control of a Ford (F) Escape and Toyota (TM) Prius, according to Wired. The hackers' technique involves taking control of vehicles' entertainment systems and sending commands to the vehicles' dashboard functions, steering, brakes, and transmission through their those systems, the website stated. ANALYST REACTION: In a note to investors today, Wells Fargo analyst David Lim responded to Wired's article by saying that cybersecurity has become a significant concern for automakers. Automotive technology suppliers such as Harman (HAR) and Delphi (DLPH) should benefit from auto makers' efforts to protect their vehicles from cyberattacks, Kwas believes. He reiterated Outperform ratings on Harman and Delphi. PRICE ACTION: In morning trading, Harman climbed about 2% to $108 and Delphi rose fractionally to $78.15. This version of the story replaces an earlier one to correct the lead analyst to David Lim.
09:40 EDTTMJeep Cherokee can be hacked via entertainment system, Wired reports
Hackers Charlie Miller and Chris Valasek demonstrated to Wired how Jeep Cherokees can be hacked via the vehicle’s entertainment system, giving an attacker wireless control of the automobile and its systems. Miller and Valasek previously demonstrated hacks they were able to perpetrate against Ford (F) Escape and Toyota (TM) Prius vehicles, the report noted. Other publicly traded automakers include General Motors (GM), Honda (HMC), Nissan (NSANY) and Volkswagen (VLKAY). Reference Link
July 20, 2015
14:33 EDTTMGoPro, Toyota partner to put camera mount in Tacoma, Wired says
GoPro (GPRO) and Toyota (TM) are partnering to place a a GoPro camera mount on the roofline of every new 2016 Toyota Tacoma, a first for a carmaker, says Wired. Toyota will not supply the camera, added Wired. Shares of GoPro are up 6.5% while Toyota is up fractionally. Reference Link
12:16 EDTTMHERE offering free HD map data for automated vehicle tests
HERE, a Nokia (NOK) company, announced it is making high-definition mapping data of sections of public roads in four countries available to all automotive companies to support their highly automated vehicle initiatives. HERE is offering HD mapping data of specific stretches of open road in Silicon Valley and Michigan in the United States, as well as in France and Germany, to all carmakers and automotive suppliers for test purposes. HERE plans to offer data for Japan too later this year. HERE is currently working with more than 10 "leading automotive companies" on automated driving projects, the company said. Publicly traded automakers include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
July 19, 2015
12:50 EDTTMJapanese blue chips could see gains of 30% or more, Barron's says
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July 17, 2015
06:32 EDTTMProbe shows leaky seals cause Takata air bag explosions, WSJ reports
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July 16, 2015
14:36 EDTTMToyota upgraded to Buy from Hold at Jefferies (pre-open)
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13:52 EDTTMGM slips after Barclays downgrades auto sector on China downturnbw
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