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Stock Market & Financial Investment News

News Breaks
March 12, 2014
12:44 EDTEXXI, GERN, TOL, EPL, WLH, PGR, PAY, PHMOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq the lone major index trading in positive territory. Stocks trading in New York began the session in the red, taking their lead from overseas markets which were weaker on global growth concerns. The market drifted off its lows and all three major averages made it back to positive ground, though the Dow and S&P have slipped back below yesterday's closing levels. ECONOMIC EVENTS: In the U.S., MBA's mortgage applications index fell 2.1% last week. The federal budget for February is scheduled to be reported at 2:00 pm ET. In Asia, Reuters said overnight that China's central bank is prepared to cut the amount of cash that banks must keep as reserves if economic growth slows further. COMPANY NEWS: Shares of a number of homebuilders sunk after Credit Suisse downgraded three companies in the sector, saying that the spring selling season looks set to be "underwhelming." Credit Suisse analyst Daniel Oppenheim wrote that the firm's survey of real estate agents last month indicates that demand for housing was weak. Buyer traffic fell compared with January and February 2013, the analyst stated, adding that homebuilders' stocks generally reflect optimistic outlooks. As a result, he downgraded three names in the sector - Toll Brothers (TOL), PulteGroup (PHM), and William Lyon Homes (WLH) - to Neutral from Outperform. Near midday, Pulte shares were down over 2%, Toll slid almost 2% and William Lyon fell 1%. MAJOR MOVERS: Among the notable gainers was electronic payment solution provider VeriFone Systems (PAY), which hit a new 52-week high earlier in the session and was up about 9% near midday after the company's first quarter results topped expectations. Also higher was EPL Oil & Gas (EPL), which jumped 30% after the company agreed to be acquired by Energy XXI (EXXI) in a deal that will see stockholders receive a consideration valued at $39.00 per EPL share. Shares of Energy XXI slipped 6% following the deal announcement. Among the other noteworthy losers was insurer Progressive (underwhelming), which fell more than 3% after reporting its net premiums written rose 3% to $1.54B in February. Also lower were shares of Geron (GERN), which plunged over 62% and was downgraded to Neutral from Overweight at Piper Jaffray after the FDA put a full clinical hold for all company-sponsored imetelstat studies. INDEXES: Near midday, the Dow was down 36.20, or 0.22%, to 16,315.05, the Nasdaq was up 3.14, or 0.07%, to 4,310.33, and the S&P 500 was down 3.89, or 0.21%, to 1,863.74.
News For TOL;PHM;WLH;GERN;PAY;EPL;EXXI;PGR From The Last 14 Days
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February 4, 2016
11:21 EDTPAYOptions with increasing call volume; FMC HST XME RIO BHP PAY DNDK BSX ALLY SWFT
February 3, 2016
07:13 EDTWLHBill Miller positive on shares of William Lyon Homes
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February 2, 2016
11:50 EDTEXXIOptions with increasing put volume; BKLN AKS ROK MCHP EXXI TPX ALU TXT RCL
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February 1, 2016
10:08 EDTPGRHigh option volume stocks
High option volume stocks: NOK HLT NCLH DF GALE VMW DPS SYY SYMC PGR
January 29, 2016
11:33 EDTPGRProgressive appoints Steve Broz Chief Information Officer
The Progressive Corporation announced Steve Broz as its new Chief Information Officer following the previously announced retirement of Ray Voelker. Voelker retired after 30 years at Progressive, including 15 as Chief Information Officer. Broz was as a key member of Voelker's senior leadership team heading up the technology group's Enterprise Project Management Office.
07:50 EDTPHMPulteGroup risk/reward most attractive in homebuilder coverage, says UBS
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January 28, 2016
06:32 EDTPHMPulteGroup reports Q4 EPS 64c, consensus 49c
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January 27, 2016
08:28 EDTPGRProgressive reports Q4 EPS with gains 56c, may not compare to consensus 47c
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08:25 EDTPGRProgressive reports December EPS 24c
Reports December net premiums written down 11% to $1.392B and net premiums earned down 9% to $1.604B.
January 26, 2016
14:32 EDTPGRNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Novartis (NVS), consensus $1.18... Boeing (BA), consensus $1.26... United Technologies (UTX), consensus $1.52... Biogen (BIIB), consensus $4.08... EMC (EMC), consensus 65c... General Dynamics (GD), consensus $2.38... Anthem (ANTM), consensus $1.22... Illinois Tool Works (ITW), consensus $1.21... State Street (STT), consensus $1.18... Norfolk Southern (NSC), consensus $1.24... Progressive (PGR), consensus 47c... St. Jude Medical (STJ), consensus $1.01... Rockwell Automation (ROK), consensus $1.33... Textron (TXT), consensus 83c... Hess (HES), consensus ($1.47)... Cliffs Natural (CLF), consensus (26c).

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