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Stock Market & Financial Investment News

News Breaks
February 27, 2014
08:47 EDTGM, BRK.A, BX, FB, NTDOY, VZ, FSLR, SCTY, TSLA, BP, SUNEOn the Fly: Periodicals Wrap
WSJ: Tesla (TSLA) "Gigafactory" to cost $5B...Solar (FSLR, SUNE, SCTY) brightens for investors...Verizon (VZ) investigating additional retail breaches...REUTERS: BP (BP) denied request to halt compensation for commercial fishermen...Facebook (FB) says better for ads than broadcast TV...BLOOMBERG: Berkshire (BRK.A) expected to post record profit...Nintendo (NTDOY) encouraged to make app store games...OTHER NEWS: Blackstone (BX) near deal for Versace stake, FT reports...GM (GM) aims to beef up financing unit, Detroit News reports...J. Crew considering possible IPO this year, NY Post reports.
News For A;NTDOY;BX;GM From The Last 14 Days
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March 20, 2015
10:00 EDTNTDOYOn The Fly: Analyst Upgrade Summary
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08:01 EDTGMStifel says evidence supports Apple moving into electric vehicles
Analysts at Stifel say they see enough evidence to suggest that Apple is internally working on the development of a battery electric vehicle to be sold over the next five-to-ten years. The analysts are "intrigued" by Apple CFO Luca Maestri's background at General Motors (GM). They believe Apple's investments in manufacturing should be a key consideration for investors and point out the $40B spent by the iPhone maker over the past five years, with 80%-plus invested in manufacturing, is similar to GM, Ford (F) and Daimler-Benz and well above Tesla's $1.8B cumulative capex. The analysts say there is a "lot to think about" regarding Apple's move into the car space, including the regulatory environment. They keep a Buy rating on the tech giant with a $150 price target. Shares of Apple closed yesterday down 97c to $127.50.
06:22 EDTGMGM CEO to be questioned October 8 over ignition failures, AP says
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05:58 EDTNTDOYNintendo upgraded to Buy from Hold at Deutsche Bank
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March 19, 2015
07:55 EDTBXMolycorp bondholders led by Apollo close to hiring Blackstone, Bloomberg says
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06:06 EDTBXSunrun powers up for IPO later this year, WSJ reports
Sunrun, a solar-energy company, is said to be working with Credit Suisse (CS) and Goldman Sachs (GS) on a potential IPO for later this year, sources tell The Wall Street Journal, which adds that the company was valued at $1.3B as of March 2014. Other solar companies that have gone public in recent years include residential solar installers like Vivint Solar (VSLR), backed by Blackstone (BX), and SolarCity (SCTY), backed by Tesla's (TSLA) Elon Musk. Reference Link
March 18, 2015
15:22 EDTBXMolycorp creditors close to hiring Blackstone, Bloomberg says
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10:00 EDTNTDOYOn The Fly: Analyst Upgrade Summary
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08:37 EDTGMGeneral Motors says to change business model in Russia
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08:36 EDTGMGeneral Motors says to idle auto plant in St. Petersburg
08:31 EDTAAgilent names president and COO Mike McMullen as CEO
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07:27 EDTBXFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
07:23 EDTNTDOYNintendo upgraded to Buy from Hold at Jefferies
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07:08 EDTBXSome senior Blackstone execs may leave due to spin-off with PJT, Reuters says
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March 17, 2015
14:21 EDTBXBlackstone unlikely to lead bid for Macerich, Bloomberg says
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14:13 EDTGMMorgan Stanley questions GM capital allocation plan
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09:38 EDTNTDOYNext Nintendo console in development, reveal coming in 2016, Tech Crunch says
Nintendo's next game console will be named "NX" and is currently in development with a "brand new concept," reports Tech Crunch, citing statements by CEO Satoru Iwata at a press conference. Iwata said more information will be made available next year, which Tech Crunch notes may indicate a reveal at the next E3 game expo. Tech Crunch also notes that a 2016 reveal would signify a relatively fast "update cycle" to its current Wii U console. Reference Link
08:05 EDTGMGeneral Motors coverage resumed with an Underweight at Morgan Stanley
Morgan Stanley reinstated General Motors with an Underweight and $28 price target. The firm believes GM's agreement to accelerate capital returns to investors is a popular short-term decision but raises questions longer-term by increasing both financial and strategic risks.
06:23 EDTGMGM employees to be deposed for class action case, NY Times says
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06:21 EDTNTDOYNintendo to develop smartphone games with DeNA
Nintendo and DeNA Co., Ltd. entered into a business and capital alliance to develop and operate new game apps for smart devices and build a new multi-device membership service for consumers worldwide. Leveraging the strength of Nintendo’s intellectual property and game development skills in combination with DeNA’s world-class expertise in mobile games, both companies will develop and operate new game apps based on Nintendo’s IP, including its iconic game characters, for smart devices. The alliance is intended to complement Nintendo’s dedicated video game systems business and extend Nintendo’s reach into the vast market of smart device users worldwide. To ensure the quality of game experience that consumers expect from this alliance of Nintendo and DeNA, only new original games optimized for smart device functionality will be created, rather than porting games created specifically for the Wii U home console or the Nintendo 3DS portable system. Nintendo and DeNA also plan to develop an online membership service that is accessible from smart devices, PC and Nintendo systems, such as the Nintendo 3DS portable system and the Wii U home console. The membership service, which is targeted to launch in the fall of 2015, will be built on DeNA’s extensive experience and capabilities in online membership services.As part of the long-term relationship and commitment by each company, Nintendo and DeNA have also agreed to form a capital alliance. Under the capital alliance, Nintendo will acquire 15,081,000 of DeNA’s treasury shares, which corresponds to 10% of its total outstanding stock, for a total of approximately Y22B. DeNA will simultaneously acquire 1,759,400 of Nintendo’s treasury shares, which corresponds to 1.24% of its outstanding stock, for a total of approximately Y22B. The payment is due April 2.
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