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Stock Market & Financial Investment News

News Breaks
December 3, 2013
12:39 EDTTSLA, ABBV, YUM, KKD, FIATY, F, GM, CHL, AAPL, ANFOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, extending the sell-off that began late in the session yesterday. The averages are now lower for the third consecutive day, which will mark the first time that has happened since September if the levels near noon hold into the close. There is little that can be pointed to that accounts for the weakness aside from investor caution with the market still near record levels. ECONOMIC EVENTS: November vehicle sales were reported, with General Motors (GM) and Chrysler (FIATY) both reporting double-digit percentage growth in sales and Ford (F) notching a better than expected 7.2% increase. COMPANY NEWS: Tesla Motors (TSLA) shares rose 12% after the company said its Model S, the electric car being investigated for a possible U.S. recall, was cleared of any safety defect in a review by Germany’s transportation regulator. Also, shares of the electric vehicle maker were named a Top Pick at Morgan Stanley following the recent pullback in shares. The firm, which believes Tesla offers the best risk/reward in U.S. autos with exceptional top-line growth, has a $153 price target on the stock... Apple (AAPL) shares rose about 1.6% after the company purchased the social-media analytics firm Topsy Labs, its shares were upgraded at UBS, and a new report circulated regarding the iPhone maker's expected but unconfirmed China Mobile (CHL) partnership. MAJOR MOVERS: Among the notable gainers was Abercrombie & Fitch (ANF), which rose over 5% after shareholder Engaged Capital made public a letter it sent to the company’s board of directors urging them to immediately initiate a search for a new CEO for the company. Also higher were shares of AbbVie (ABBV), which were up 3% after being upgraded to Conviction Buy at Goldman. Among the noteworthy losers was Krispy Kreme Doughnuts (KKD), which sank nearly 20% after its adjusted earnings per share narrowly beat expectations, but the company gave a disappointing financial forecast for the new fiscal year. Also lower were shares of Yum Brands (YUM), which fell 2.5% after disclosing last night that its promotions last month only generated a same-store sales increase of 1% in China. INDEXES: Near noon, the Dow was down 104.85, or 0.65%, to 15,903.92; the Nasdaq was down 12.72, or 0.31%, to 4,032.54; and the S&P 500 was down 7.40, or 0.41%, to 1,793.50.
News For TSLA;AAPL;CHL;GM;F;FIATY;KKD;YUM;ABBV;ANF From The Last 14 Days
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April 2, 2014
12:48 EDTAAPLGT Advanced rallies after Goldman raises price target
Shares of GT Advanced Technologies (GTAT) - which makes sapphire products and solar energy equipment - are climbing after Goldman Sachs raised its price target on the stock in a note to investors earlier today. WHAT'S NEW: Goldman Sachs analyst Brian Lee raised his 2015 and 2016 earnings per share estimates for GT Advanced, as he is more upbeat about the outlook for the company's equipment business. GT Advanced's deal to supply sapphire for upcoming Apple (AAPL) devices is worth $15 per share for GT if the deal goes as expected, and up to $25 if the deal exceeds expectations, contended Lee. The analyst raised his price target on the stock to $24 from $20 and kept a Buy rating on the shares. OTHERS TO WATCH: Rubicon Technology (RBCN) also makes sapphire. That stock was upgraded to Overweight from Neutral in a note to investors from JPMorgan yesterday. JPMorgan expected Rubicon to benefit from a pick-up in demand for LEDs and sapphire covers. The stock surged yesterday in the wake of the upgrade. PRICE ACTION: In early afternoon trading, GT Advanced climbed $1.13, or 6.5%, to $18.51, while Rubicon fell 2.8% to $12.62.
12:10 EDTGM, FNomura starts coverage of GM with Reduce rating
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11:37 EDTGMStocks with call strike movement; HPQ GM
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11:33 EDTTSLATesla appeals NJ ban on direct sales, Star-Ledger reports
Tesla has filed an appeal in New Jersey Superior Court to overturn the state's ban on selling its vehicles directly to consumers, reported The Star-Ledger. Reference Link
11:15 EDTAAPLAmazon says Fire TV 'three times as powerful' as Apple TV, Roku, Chromecast
10:00 EDTF, GMOn The Fly: Analyst Initiation Summary
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09:35 EDTAAPL, TSLAActive equity options trading on open
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09:32 EDTFIATYChrysler recalls 868K SUVs to install brake booster shield
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09:18 EDTAAPLOn The Fly: Pre-market Movers
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08:44 EDTGMSenate Commerce, Science & Transportation Committee to hold a hearing
The Subcommittee on Consumer Protection, Product Safety and Insurance holds a hearing entitled, "Examining the GM Recall and NHTSA's Defect Investigation Process" with CEO of General Motors, Mary Barra is being held on April 2 at 10 am. Webcast Link
08:35 EDTTSLATesla Motors May volatility elevated at 65
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07:44 EDTTSLA, GMChina mulls more electric car incentives, Bloomberg says
China may exempt electric-car buyers from paying purchase taxes as part of expanded state measures to boost sales of such cars after past incentives failed to spark demand, according to Bloomberg, citing comments from Vice Premier Ma Kai. Companies that make electric vehicles include GM (GM), Honda (HMC), Nissan (NSANY) and Tesla (TSLA). Reference Link
07:26 EDTYUMYum! Brands price target raised to $89 from $80 at Oppenheimer
Oppenheimer increased its price target on Yum! as the firm thinks the company's multiple could expand, while its earnings could surpass expectations going forward. The firm adds that Taco Bell's breakfast initiative has not been built into estimates and is thus "a free option" for investors. Oppenheimer recommends owning the stock now and keeps an Outperform rating on the shares.
07:23 EDTAAPLApple (AAPL) to act like Google (GOOG) in ad push, Business Insider says
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07:07 EDTFFord initiated with a Neutral at Nomura
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07:07 EDTGMGeneral Motors initiated with a Reduce at Nomura
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06:45 EDTAAPLAmazon expected to announce media streaming device today, Business Insider says
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06:31 EDTGMActing NHTSA head defends decision not to open GM probe, Detroit News says
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05:58 EDTAAPLSamsung lawyer calls Apple claims 'gross exaggeration,' Re/code reports
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05:57 EDTAAPLPiper positive on Apple shares ahead of product cycle
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