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Stock Market & Financial Investment News

News Breaks
August 1, 2014
16:51 EDTGLW, BYI, FDO, S, PEP, ALL, GPRO, UPS, TRLA, DLTR, TMUS, TGT, PG, GRMN, SGMS, Z, TWTR, WMT, AMGN, EXPEMarket finishes week lower as Fed, geopolitical worries weigh
Stocks ended the week lower amid worries about the Fed tightening sooner than expected and continued geopolitical uncertainty. MACRO NEWS: In a statement released following their latest meeting, the Federal Open Market Committee said that "the likelihood of inflation running persistently below 2% has diminished somewhat." Meanwhile, the employment cost index jumped 0.7% in the second quarter, it was reported on Thursday. Wages and salaries rose 0.6% in Q2, according to the report. Following the release of the index and the Fed's statement, investors worried that the central bank could start tightening monetary policy sooner than expected. The Commerce Department estimated that U.S. Gross Domestic Product grew at a seasonally adjusted annual rate of 4.0% in the second quarter, easily beating expectations for a growth rate of 3.0%. Non-farm payrolls rose 209K in July, missing the 230K forecast. Other U.S. economic data was largely upbeat, as two consumer confidence indexes for July and weekly jobless claims were all better than expected... In overseas news, China's official purchasing managers' index reached its highest level in 27 months in July, beating expectations by a small amount. 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. The U.S. and EU leveled new, tougher sanctions against Russia, leading to concerns that Moscow's struggle with the West could intensify. Meanwhile, Israel continued to battle Hamas. COMPANY NEWS: Among the noteworthy companies that fell after reporting their results were shipping giant UPS (UPS), glass maker Corning (GLW), navigation device specialist Garmin (GRMN) and newly-listed action camera maker GoPro (GPRO). On the other other side of the coin, Twitter (TWTR), Expedia (EXPE), Procter & Gamble (PG), Allstate (ALL), and Amgen (AMGN) were among the companies whose stocks rose in the wake of their earnings reports... The M&A news flow continued to be strong, as Dollar Tree (DLTR) agreed to buy Family Dollar (FDO) and real estate website operator Trulia (TRLA) agreed to be acquired by its peer Zillow (Z) and casino equipment maker Bally Technologies (BYI) agreed to be acquired by Scientific Games (SGMS). Meanwhile, France's Iliad (ILIAF) confirmed that it had offered $15B in cash for a 56.6% stake in T-Mobile US (TMUS) for $33 per share for $83.30 per share, which negatively impacted the stock of Sprint (S), which has been widely viewed as on track to buy T-Mobile as the two seek to grow and better challenge the number one and two mobile carriers in the U.S., Verizon (VZ) and AT&T (T)... Target Corporation (TGT) announced that its Board of Directors had named Brian Cornell as the company's next chairman of the Board of Directors and CEO, effective August 12. Cornell most recently served as the CEO of PepsiCo Americas Foods (PEP) where he oversaw Pepsi's global food business. Before joining PepsiCo in 2012, Cornell served as president and CEO of Sam's Club, a division of Wal-Mart (WMT). INDEXES: The Dow dropped 2.75% to 16,493.37, the S&P 500 fell 2.16% to 1,925.15, and the Nasdaq declined 2.69% to 4,352.64.
News For TMUS;S;TWTR;DLTR;FDO;Z;TRLA;BYI;SGMS;UPS;GLW;GRMN;GPRO;EXPE;PG;ALL;AMGN;TGT;PEP;WMT From The Last 14 Days
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February 17, 2015
12:17 EDTGPROGoPro rises as lock-up expires
Shares of action camera maker GoPro (GPRO) are climbing as about 76M shares of the company's stock become available for sale today. WHAT'S NEW: About 76M shares of GoPro's stock became available for sale today as a lock-up related to a recent secondary offering of the company's stock expired. Lock-up agreements, a typical feature of company stock offerings, prevent certain shareholders from selling for a set amount of time after the offering. GoPro CEO Nicholas Woodman said in a regulatory filing that the company had carried out the secondary offering partly as a means of facilitating a more gradual, orderly sale of shares when the company's IPO lock-up ended last December 22. A number of larger shareholders agreed to hold onto their shares for another 90 days in order to further that goal, Woodman explained. WHAT'S NOTABLE: In a note to investors today, research firm Northland Securities initiated coverage of GoPro with an Outperform rating, saying that the company's new HERO4 camera is "demonstrating strong...momentum." Sales of the product are causing the company's gross margins and average selling price to rise, added the firm. GoPro is also poised to benefit significantly from the proliferation of its images on digital media, and from the deployment of its cameras in additional venues such as helmets and drones, according to Northland. The firm set a $70 price target on the shares. PRICE ACTION: In early afternoon trading, GoPro climbed $4.04, or 8.8%, to $49.24.
12:15 EDTGPROGoPro rallies sharply, levels to watch
The shares were initiated at Outperform at Northland with a $70 price target. This is also another lock-up expiration day, which are often volatile trading days but not necessarily consistent indicators of future performance. At the current price of $48.93, next resistance is at $50.29. Support is at $48.40.
11:06 EDTZZillow volatility elevated on wide price movement
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10:28 EDTUPSUPS spikes higher, retraces some gains
Price was last at $102.47, off the earlier spike high at $102.82 which is now resistance. Next resistance above the high of the day would be at $103.29. The move up today has broken the stock out of a consolidation pattern, a bullish ascending triangle. The upside potential would be to the $105.50 area. Support is at $101.90, the opening price of the session.
10:16 EDTUPSRumor: UPS moves higher amid activist investor speculation
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10:01 EDTAMGNCVS says PCSK9 inhibitors could cost system $150B annually
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10:00 EDTGPROOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Box, Inc. (BOX) initiated with a Hold at Canaccord... Euronav NV (EURN) initiated with an Overweight at Morgan Stanley... GoPro (GPRO) initiated with an Outperform at Northland... M/A-COM (MTSI) initiated with a Neutral at BofA/Merrill... Macy's (M) initiated with an Underweight at Barclays... NetSuite (N) initiated with an Underperform at Exane BNP Paribas... Omega Healthcare (OHI) initiated with a Neutral at BofA/Merrill... Pandora (P) initiated with a Neutral at Macquarie... Pattern Energy (PEGI) coverage resumed with an Outperform at BMO Capital... Regeneron (REGN) initiated with an Outperform at Bernstein... Trovagene (TROV) initiated with an Overweight at Piper Jaffray... Vista Outdoor (VSTO) initiated with a Market Perform at Cowen.
09:40 EDTZ, TWTRActive equity options trading on open
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09:19 EDTTWTRTwitter still the large cap Internet stock to own this year, says MKM Partners
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09:19 EDTWMTDocument Security files patent infringement claims against Intel, others
DSS Technology Management, a subsidiary of Document Security (DSS), announced the filing of a patent infringement lawsuit against the Intel (INTC); Dell; GameStop (GME); Conn's Inc. (CONN) and Conn Appliances; NEC Corporation of America; Wal-Mart Stores (WMT) and Wal-Mart Stores Texas, and AT&T (T) in the United States District Court for the Eastern District of Texas, Tyler Division. DSS's complaint alleges infringement by Intel, Dell, GameStop (GME), Conn's, NEC, Wal-Mart, and AT&T of US Patents 5,965,924 and 6,784,552, which relate to semiconductor manufacturing.
08:25 EDTTRLA, ZZillow Q4 preannouncement shows revenue momentum, says Canaccord
Canaccord said Zillow's (Z) Q4 earnings preannouncement shows that it is gaining revenue momentum. The firm believes the future is bright for the company, which is set to close its purchase of Trulia (TRLA) as soon as today. Canaccord maintained its Buy rating and $125 price target on Zillow shares.
07:23 EDTDLTRDollar Tree Q4 results likely to beat expectations, says Stifel
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07:22 EDTGPROMitsubishi UFJ to hold a tour
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07:15 EDTPEP, PGConsumer Analyst Group of New York (CAGNY) to hold a conference
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07:03 EDTGPROGoPro initiated with an Outperform at Northland
Target $70.
06:15 EDTTMUSCiti sees three options for DISH, including sale to Verizon
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05:50 EDTZ, TRLAZillow to host conference call
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05:23 EDTEXPEExpedia increases stake in AirAsia-Expedia JV for $86.3M
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February 15, 2015
16:45 EDTGPROFAA proposes new rules for commercial operation of drones in U.S
The Department of Transportationís Federal Aviation Administration proposed a framework of regulations that would allow routine use of certain small unmanned aircraft systems, UAS, in todayís aviation system, while maintaining flexibility to accommodate future technological innovations. The FAA proposal offers safety rules for small UAS, under 55 pounds, conducting non-recreational operations. The rule would limit flights to daylight and visual-line-of-sight operations. It also addresses height restrictions, operator certification, optional use of a visual observer, aircraft registration and marking, and operational limits. Publicly traded companies in the space include General Dynamics (GD), Lockheed Martin (LMT), Northrop Grumman (NOC), AeroVironment (AVAV), SAIC (SAIC), Textron (TXT), Amazon.com (AMZN) and GoPro (GPRO). Reference Link
16:04 EDTEXPEAirline trade group expresses concern on Orbitz, Expedia deal, Reuters says
The trade group Airlines for America expressed its concern for the tentative merger of Expedia (EXPE) and Orbitz Worldwide (OWW) saying it could do harm to the travel business but hinted that it would not actively lobby against the deal, says Reuters. Reference Link
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