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Stock Market & Financial Investment News

News Breaks
July 16, 2014
12:26 EDTDIS, IBM, PNC, YHOO, HCA, DISCA, CBS, AAPL, BAC, INTC, FOXA, VIAB, LCI, TXT, BABA, THC, TWXOn The Fly: Midday Wrap
Stocks on Wall Street began the session sharply higher on the heels of solid earnings reports from a few corporate bellwethers as well as some completed acquisition deals and a high-profile rejected one. The market began to lose some steam during the second hour of trading as Fed Chairwoman Yellen began her second day of testimony in Washington on the economy. ECONOMIC EVENTS: In the U.S., the Producer Price Index for June rose 0.4%, which was ahead of expectations for a 0.2% increase. Industrial production grew 0.2% in June, missing the forecast for 0.3% growth. The NAHB homebuilder confidence index rose to 53 in July, ahead of expectations for it to tick up 1 point to 50. The Fed's Beige Book is expected to be released at 2 pm ET. COMPANY NEWS: Shares of HBO parent Time Warner (TWX) jumped more than 15% after it was reported by CNBC and DealBook's Andrew Ross Sorkin that the company had received, and rejected, a takeover offer worth about $80B, or $85 per share, from Rupert Murdoch's Twenty-First Century Fox (FOXA). According to the report, Fox indicated that it would sell its news channel CNN, which could be sought by CBS (CBS) or Disney's (DIS) ABC, as part of the proposal. Before the opening bell both Time Warner and Fox confirmed the report, with Time Warner stating that it rejected the bid since it was "not in the best interests of stockholders" and 21st Century Fox noting that the companies are not currently in discussions. Other media stocks were trading higher after the news, with Discovery Communications (DISCA) rising 6.5% and Viacom class B shares (VIAB) gaining 4%... Shares of Intel (INTC) advanced 7.5% after the semiconductor giant's second quarter results beat analysts' consensus estimates. Among other S&P 500 companies reporting earnings, Textron (TXT) advanced, while Bank of America (BAC) and PNC Financial (PNC) declined... Apple (AAPL) gained 1% and IBM (IBM) advanced more than 2% after the companies announced a deal to partner on mobile products for corporations. MAJOR MOVERS: Among the notable gainers was Tenet Healthcare (THC), which rallied 7% after after another company in the hospital sector, HCA Holdings (HCA), pre-announced stronger than expected second quarter results. For its part, HCA rose 9% after providing better than expected Q2 guidance and increasing its fiscal year outlook. Among the noteworthy losers was Lannett (LCI), which fell 14% after announcing that it has received interrogatories and subpoena from the State of Connecticut Office of the Attorney General concerning its investigation into pricing of the drug digoxin. Also lower after its earnings report was Yahoo! (YHOO), which fell 4.5%. In addition to reporting results, the company announced last night that it has amended its share repurchase agreement with Chinese e-commerce company Alibaba (BABA), reducing the number of shares that Yahoo is required to sell at the IPO to 140M shares from 208M. INDEXES: Near midday, the Dow was up 64.71, or 0.38%, to 17,125.39, the Nasdaq was up 18.55, or 0.42%, to 4,434.94, and the S&P 500 was up 7.08, or 0.36%, to 1,980.36.
News For TWX;FOXA;HCA;THC;INTC;YHOO;BABA;BAC;PNC;TXT;AAPL;IBM;LCI;CBS;DIS;VIAB;DISCA From The Last 14 Days
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February 15, 2015
16:44 EDTAAPLApple Watch could increase revenue by 10% next year, Barron's says
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07:47 EDTAAPLHope of car positive for Apple shares, says Piper Jaffray
Piper Jaffray analyst Gene Munster said in a note to investors yesterday that the potential for a car gives investors something to look at as "the next big thing" for Apple. Munster believes the Wall Street Journal's report that Apple is building an electric car will help support the stock over the next six months. He believes it is unlikely that the company launches anything in the next five years, however. Munster reiterated an Overweight rating on Apple with a $160 price target. The stock closed Friday up 62c to $127.08.
07:46 EDTAAPLApple working on minivan-like electric vehicle, WSJ reports
Apple has "several hundred" employees working secretly toward creating an Apple-branded electric vehicle, Wall Street Journal reported yesterday, citing people familiar with the matter. The project is known internally as "Titan" and has a design that resembles a minivan, the Journal added. The Financial Times reported yesterday that the iPhone maker is recruiting experts in automotive technology and vehicle design. Reference Link
February 13, 2015
17:52 EDTBABAThird Point gives quarterly update on stakes
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17:13 EDTBABASEC seeks more data from Alibaba over Chinese regulator dispute, NYT says
Alibaba announced that it had received a request from the S.E.C. for additional information about the dispute with Chinaís State Administration for Industry and Commerce, NY Times reports. Reference Link
17:05 EDTCBSAppaloosa gives quarterly update on stakes
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16:58 EDTTWXGreenlight Capital gives quarterly update on stakes
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16:44 EDTBABAAlibaba says cooperating with SECís request
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16:38 EDTBABAAlibaba receives SEC inquiry on SAIC interactions, Bloomberg reports
13:56 EDTAAPLApple working on car technology in secretive lab, FT says
Apple, which often investigates wide ranging product areas, has been recruiting automotive technology and vehicle design experts who are at work in a confidential Silicon Valley location near the companyís Cupertino campus, Financial Times reported, citing people familiar with the matter. Reference Link
09:21 EDTCBSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Cytokinetics (CYTK), up 15.6%... King Digital (KING), up 22.2%... Cyberark Software (CYBR), up 19.2%... Web.com (WWWW), up 4%... CBS (CBS), up 3.4%. ALSO HIGHER: Freescale Semiconductor (FSL), up 10.9% following a New York Post report that the company is exploring a sale. Carlyle Group (CG), which owns Freescale, along with Blackstone (BX), is up 1.5%. Blackstone is up fractionally... Whiting Petroleum (WLL), up 4.4% following a Bloomberg report that the company is seeking a buyer for assets in North Dakota... Ariad Pharmaceuticals (ARIA), up 5.7% following a CNBC report that Sarissa Capital is seeking to replace Ariad CEO and Chairman Harvey Berger. DOWN AFTER EARNINGS: Knowles (KN), down 20.3%... Zynga (ZNGA). down 12.4%... J.M. Smucker (SJM), down 2.1%. ALSO LOWER: Magnachip Semiconductor (MX), down 51.7% after restating financial results... Idera Pharmaceuticals (IDRA), down 7.6% after 20M share Secondary priced at $3.75.
08:43 EDTAAPLApple price target raised to $135 from $130 at BMO Capital
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07:22 EDTDISDisney spoke to California authorities over measles health messages, AP says
Disneyland executives sent multiple emails to the California Department of Public Health urging it to emphasize that the theme park was not responsible for the recent measles outbreaks and was safe for vaccinated people, reports the Associated Press, citing obtained documents. The report notes that "there is no evidence" the company tried to downplay the seriousness of the issue or give misleading statements. Reference Link
06:52 EDTBABAAlibaba's Jack Ma reassures staff on lawsuits, Reuters says
Alibaba Executive Chairman Jack Ma told staff to "be at ease" about ongoing U.S. lawsuits over alleged failures to disclose counterfeiting information prior to its IPO, reports Reuters, citing Ma's annual letter posted to his blog. Additionally, a Chinese antitrust regulator stated pricing tactics in China's e-commerce will be probed to ensure fairness, though specific businesses were not named. Reference Link
06:40 EDTBABAAlibaba, Tencent may merge taxi hailing apps, WSJ says
Alibaba's (BABA) taxi hailing smartphone app Kuaidi Dache and Tencent's (TCEHY) app Didi Dache are in talks to merge, reports the Wall Street Journal, citing research firm Analysys International. The internet giants have paired the taxi apps to their respective payment systems, but a merger of the apps would likely negatively impact Tencent as riders may opt to use Alibaba's more popular payment system. Reference Link
06:22 EDTYHOOYahoo volatility at low end of one-year range
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06:14 EDTAAPLTSMC transfers more peripheral IC orders to Vanguard, DigiTimes reports
TSMC (TSM) has transferred more orders for peripheral ICs for use in Apple's (AAPL) mobile devices to Vanguard International, reports DigiTimes. According to industry sources, Vanguard has already entered Apple's supply chain by providing TSMC 8-inch production capacity for power management IC orders placed by Dialog Semiconductor. Reference Link
06:13 EDTBABAAlibaba implied volatility of 29 at lower end of index mean range
06:13 EDTYHOOYahoo expected to cut up to 200 employees, primarily in Canada, WSJ reports
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05:53 EDTAAPLApple price target raised to $150 from $130 at UBS
UBS analyst Steven Milunovich raised his price target for Apple shares to $150 from $130 citing the tech giant's "expanding ecosystem." Milunovich believes services based on Apple's operating system, such as Apple Pay, Car Play, HomeKit, and HealthKit, will play key role in extending Apple's reach. He believes Apple is evolving into a "platform company" from a "device company" and that this transition may bring the iPhone maker's market capitalization to $1T. Milunovich has a Buy rating on Apple. The stock closed yesterday up $1.58 to $126.46, representing a market cap of $739B.
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