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Stock Market & Financial Investment News

News Breaks
July 31, 2014
12:29 EDTTMUS, LLL, AVP, ILIAF, LPSN, OTEX, WFM, GE, SYF, S, EDAPOn The Fly: Midday Wrap
Stocks on Wall Street were sharply lower at midday, following the lead of international markets that were also lower overnight after Argentina defaulted on its debt. The averages, which opened deep in the red, took another leg lower shortly after the open when the Chicago Purchasing Manager’s Index came out well below expectations with a reading of 52.6, versus a 63.0 forecast. The Argentinian default and the U.S. data, coupled with concerns over the Fed tightening its monetary policy sooner than expected, have pushed buyers to the sidelines ahead of tomorrow’s monthly jobs report. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 23K to 302K in the week ended July 26 from a revised 279K figure for the prior week. The Chicago PMI dropped a surprising 10 points to 52.6 in July, making for its lowest print since June of 2013. Internationally, Argentina failed to head off its second default in the past 13 years, sending its stock and bond markets sharply lower and causing ripples throughout global debt and equity markets. COMPANY NEWS: Shares of T-Mobile (TMUS) gained 5% after the company reported second quarter results that beat expectations and The Wall Street Journal reported that French mobile carrier Iliad (ILIAF) has made an offer to acquire the company. Following that report, Sprint (S), which has been widely seen as the most logical buyer of T-Mobile, fell nearly 4%... Shares of Synchrony Financial (SYF), the North American Retail Finance business of GE Capital (GE) that is being spun off from the parent company, began trading on the New York Stock Exchange. 125M Synchrony shares priced at $23.00 per share and began trading at $23.00 per share. General Electric Chairman and CEO Jeff Immelt stated afterward that the industrial giant continues to target completing its exit in late 2015 through a capital-efficient split-off transaction. MAJOR MOVERS: Among the notable gainers were Open Text (OTEX), which rose 15%, and LivePerson (LPSN), which gained 18%, after both reported better than expected results and both were upgraded this morning at Credit Suisse. Also rising following their earnings reports were Avon (AVP), which advanced 3.7%, and Allstate (ALL), which moved 4.4% higher. Among the noteworthy losers was Whole Foods Market (WFM), which sunk 3% after the company cut its full-year guidance. Also lower was L-3 Communications (LLL), which dropped 16% and was downgraded to Hold from Buy at Drexel Hamilton after the company cuts its FY14 EPS outlook. Another loser in today's market was EDAP TMS (EDAP), which plunged 43% after an FDA panel voted against recommending approval for its Ablatherm-HIFU device. INDEXES: Near midday, the Dow was down 231.85, or 1.37%, to 16,648.51, the Nasdaq was down 88.96, or 1.99%, to 4,373.94, and the S&P 500 was down 32.24, or 1.64%, to 1,937.83.
News For TMUS;S;SYF;GE;WFM;OTEX;LPSN;ILIAF;AVP;LLL;EDAP From The Last 14 Days
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October 13, 2014
08:28 EDTLLLL-3 Communications upgraded to Fair Value from Sell at CRT Capital
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07:15 EDTLLL, AVPNational Association of Corporate Directors to hold a conference
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06:49 EDTTMUST-Mobile upgraded to Outperform from Neutral at Macquarie
06:07 EDTAVPStocks with implied volatility above IV index mean; AVP ACHN
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October 12, 2014
17:41 EDTGEGeneral Electric could return 25%, Barron's says
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17:20 EDTGEGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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October 10, 2014
18:05 EDTGEGeneral Electric negotiating deal to buy Milestone Aviation, WSJ reports
General Electric's finance unit is negotiating a deal to acquire Milestone Aviation Group, and the purchase price could be more than $2.5B, The Wall Street Journal reports, citing people familiar with the matter. Reference Link
15:34 EDTLLLL-3 Communications confirms review of Aerospace Systems segment complete
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14:38 EDTLLLL-3 Communications overhang removed, says Oppenheimer
Oppenheimer said L-3 Communications' accounting revision removes an overhang.
14:32 EDTLLLL-3 Communications received subpoenas over accounting errors
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14:09 EDTLLLL-3 Communications discloses material weaknesses in Aerospace unit
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10:01 EDTTMUS, ILIAF, AVPOn The Fly: Analyst Upgrade Summary
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09:35 EDTSSprint downgraded to Sell from Hold at Evercore
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07:27 EDTTMUST-Mobile upgraded to Buy from Hold at Jefferies
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07:25 EDTGEGE CEO to continue shedding divisions in FY15, Bloomberg says
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07:21 EDTGEGE expects data division to exceed $1B in sales this year, Reuters says
GE CEO Jeff Immelt said that the company was en route to gross over $1B in sales from its industrial data-analysis division in FY14, and is looking to broaden the availability of its software platform in FY15, according to Reuters, citing comments from Immelt. Reference Link
06:21 EDTAVPAvon Products upgraded to Neutral from Sell at UBS
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05:59 EDTAVPStocks with implied volatility above IV index mean; AVP ACHN
Stocks with implied volatility above IV index mean; Avon Products (AVP) 61, Achillion (ACHN) 200 according to iVolatility.
05:45 EDTTMUST-Mobile upgraded to Buy from Hold at Jefferies
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05:27 EDTILIAFIliad upgraded to Outperform from Neutral at Exane BNP Paribas
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