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Stock Market & Financial Investment News

News Breaks
August 6, 2014
12:12 EDTNUS, ENPH, SFTBF, S, TWX, FUEL, GRPN, BAC, TMUS, WPX, TAP, WAG, FOXAOn The Fly: Midday Wrap
Stocks on Wall Street began the session in negative territory in what appeared to be a continuation of yesterday’s sell-off. However, by mid-morning the averages crossed into positive territory where they have remained into the lunch hour. Events from abroad continue to move U.S. markets, as European stock markets responded unfavorably to weaker than expected economic data in Italy and Germany, and investors keep an eye on the unfolding stand-offs in Russia and Israel. ECONOMIC EVENTS: In the U.S., the trade deficit narrowed to $41.5B in June from a revised $44.7B in May. In Europe, Italian GDP unexpectedly contracted 0.2% in Q2, putting the country into a technical recession, while German manufacturing orders surprised with a 3.2% June drop. COMPANY NEWS: Shares of Time Warner (TWX) declined nearly 12% despite the company reporting quarterly earnings that surpassed the consensus expectation, as its results were overshadowed by other news, namely 21st Century Fox (FOXA) withdrawing its offer to buy the company. Fox Chairman and CEO Rupert Murdoch said Time Warner management and its board refused to engage and that the reaction in its own share price since its initial proposal was made "undervalues our stock and makes the transaction unattractive to Fox shareholders." Meanwhile, class A shares of 21st Century Fox, which also authorized the repurchase of an additional $6B of its stock, rose 5%... Another deal being abandoned drove shares of another prominent company lower, as Sprint (S) dropped 18% after replacing CEO Dan Hesse with Marcelo Claure and reportedly gave up on its plans to try to combine with the fourth largest U.S. mobile carrier, T-Mobile (TMUS). Shares of T-Mobile also sunk nearly 7%, though The Wall Street Journal, citing a source, said that Iliad (ILIAF) will continue to pursue its bid for T-Mobile, though the French company sees no immediate need to boost its own offer after Sprint and parent Softbank (SFTBF) appear to have walked away... Bank of America (BAC) increased its quarterly dividend to 5c per share from 1c per share, marking the bank’s first quarterly common stock dividend increase in seven years. MAJOR MOVERS: Among the notable gainers was brewer Molson Coors (TAP), which rose 6% after the company's second quarter profits topped expectations. Also higher following their earnings reports were Enphase Energy (ENPH), which gained 20%, and WPX Energy (WPX), which advanced 12%. Among the noteworthy losers was Walgreen (WAG), which dropped 12% after the company exercised its option to acquire the remaining 55% of Alliance Boots that it does not already own but said its purchase of the rest of Boots will not be a "tax inversion" deal, as many had been expecting. Walgreen also authorized a $3B share repurchase program and raised its dividend by 7.1%, though the capital return plans did not appear to be enough to offset investor disappointment over the lack of an inversion pursuit. Also lower following their earnings reports were Groupon (GRPN), which fell 16%, Rocket Fuel (FUEL), which plunged 27%, and Nu Skin (NUS), which declined 24%. INDEXES: Near midday, the Dow was up 53.37, or 0.32%, to 16,482.84, the Nasdaq was up 25.50, or 0.59%, to 4,378.34, and the S&P 500 was up 6.91, or 0.36%, to 1,927.12.
News For TWX;FOXA;TMUS;S;WAG;BAC;SFTBF;TAP;GRPN;ENPH;WPX;FUEL;NUS From The Last 14 Days
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June 17, 2015
14:42 EDTBACOption volume leaders
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13:28 EDTTWXHBO to make serious run at Bill Simmons, Hollywood Reporter says
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11:16 EDTBACOCC restricts some banks from certain mortgage related business activity
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10:49 EDTSFTBFSoftbank leads $20M investment in Fetch Robotics
Fetch Robotics announced earlier that it has raised $20M in Series A funding. The round was led by SB Group US, Inc. and also included additional funding from seed investors O'Reilly AlphaTech Ventures and Shasta Ventures. The Series A round brings Fetch's total funding to date to $23M. The new capital will be used to expand Fetch's sales and marketing operations and to meet accelerating demand from warehouses and fulfillment centers. In addition, SoftBank's Kabir Misra will be added to Fetch Robotics’ board of directors.
10:22 EDTTMUSComcast not interested in pursuing T-Mobile, DJ says
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10:13 EDTTMUSDeutsche Telekom shopping T-Mobile to Comcast, FT reports
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09:55 EDTTMUST-Mobile rises, levels to watch
The stock is up 3% to $40.02 at time of writing after reports that Deutsche Telekom (DTEGY) are in talks with Comcast (CMCSA) over a possible sale of the company. At current price resistance is at $40.31, the high of the day, and then at the 52-week high at $40.77. Support is at $39.19.
09:40 EDTBACActive equity options trading on open
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09:36 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL FB AMD ADBE TWTR BABA QIHU NFLX BAC
08:10 EDTBACFed told BofA it is too reactive to problems raised by regulators, WSJ says
The Federal Reserve told Bank of America earlier this year that it does not think its management is forward-looking enough and is rather too reactive to problems after they are raised by regulators during “stress tests,” the Wall Street Journal reports, citing people familiar with the matter. As a result, in March, the Fed only granted the bank conditional approval to return capital to shareholders, meaning the bank is required to submit a revised stress test plan by September 30, the report says. In response, Bank of America has hired “several” outside consultants to look over the way it runs the tests, the Wall Street Journal reports, citing others close to the situation. Reference Link
07:26 EDTTMUSDeutsche Telekom, Comcast in talks over possible T-Mobile sale, Reuters says
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07:10 EDTSFTBFSoftbank, Foxconn form JV to make robots, Nikkei reports
Softbank (SFTBF) and Apple (AAPL) supplier Foxconn will set up a joint venture to make robots, The Nikkei reports, citing sources. According to the sources, the JV may first focus on mass production of Pepper, a home robot that can respond to human emotions and requests, and plan to initially make around 10,000 units annually. The JV may also market the robot and potentially other models globally. Reference Link
06:48 EDTBACMore big banks waiving overdraft fees, WSJ reports
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06:20 EDTFOXA, TWXHulu luring content producers from Netflix, WSJ reports
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June 16, 2015
16:12 EDTFOXA21st Century Fox names James Murdoch as CEO
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16:01 EDTBACApple Twitter Facebook Bank of America Yahoo Netflix Alibaba WisdomTree Coca-Cola Goldman Sachs Micron General Electric
iPath S&P 500 VIX Short-Term Futures down 33c to 18.68. Option volume leaders: AAPL TWTR FB BAC YHOO NFLX BABA WETF KO GS MU GE.
12:52 EDTTAPMolson Coors to host analyst meeting
Analyst meeting to be held in New York on June 17 at 1:30 pm. Webcast Link
09:36 EDTBACActive equity options trading on open
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07:11 EDTBACSurprise AIG ruling may make future bailouts unlikely, even if needed, NYT says
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06:19 EDTTWXTime Warner price target raised to $96 from $91 at JPMorgan
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