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Stock Market & Financial Investment News

News Breaks
November 26, 2012
06:11 EDTNOK, UBS, GSK, SI, FLOOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Switzerland and the U.K. announced punitive measures against UBS (UBS) following the unauthorized trading scandal that led to losses of $2.3B at the bank. Swiss financial market regulator Finma said it will watch UBS's investment bank for the foreseeable future and may ask it to raise fresh capital, while the U.K. Financial Services Authority fined UBS $47.6M, the Wall Street Journal reports...Flowers Foods (FLO) could be interested in Twinkies and other products owned by Hostess Brands, and is considered a likely bidder for some of the assets owned by Hostess, the Wall Street Journal reports...REUTERS: The euro zone finance ministers and the IMF will seek to unfreeze the second bailout package for Greece today, but first need to agree if some of the official loans might eventually be forgiven to cut Greek debt, Reuters reports...GlaxoSmithKline (GSK) has no plans to delist its Indian consumer products arm GlaxoSmithKline Consumer Healthcare, said David Redfern, chief strategy officer, Reuters reports...BLOOMBERG: Home equity lines of credit that fueled a spending spree during the U.S.property boom are back. Following six years of declines, lending for so-called Helocs will increase 30% to $79.6B this year, the highest level since the start of the 2008 financial crisis, according to the economics research unit of Moody’s Corp. It projects a 31% jump to $104B next year, Bloomberg reports...Nokia Siemens Networks (NOK, SI) is targeting the U.S. market where Chinese rivals face political hurdles and rising data use entices carriers to spend. The venture is forgoing less lucrative deals in Africa and the Middle East, said CEO Rajeev Suri, Bloomberg reports.
News For UBS;FLO;GSK;NOK;SI From The Last 14 Days
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February 24, 2015
13:07 EDTUBSEU official: Euro banks shouldn't also go through Fed's stress test, WSJ says
Jonathan Hill, the European Union’s new financial markets chief, told The Wall Street Journal that he does not see a need for the U.S. to give stress tests to European banks that have already received health checks in Europe. Hill says banks across Europe are "properly and sensibly capitalized." The WSJ reported last week that the U.S. units of two European banks, Deutsche Bank (DB) and Banco Santander (SAN), are set to fail the Federal Reserve's stress tests, though they passed ECB stress tests last year. Reference Link
07:21 EDTUBSSecurities Industry & Financial Markets Association to hold a conference
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06:15 EDTUBSBanks probed for possible rigging of precious metals markets, WSJ reports
Officials in the U.S. are investigating at least 10 major banks for potential rigging of precious-metals markets, sources tell The Wall Street Journal. The DOJ's antitrust unit are investigating the price-setting process for gold, silver, palladium and platinum in London, while the CFTC has begun a civil investigation, with both agencies making requests for information, including a subpoena to HSBC (HSBC) from the CFTC. According to a source, Credit Suisse (CS), JP Morgan (JPM), UBS (UBS), Societe Generale (SCGLY), Bank of Nova Scotia (BNS), Barclays (BCS), Goldman Sachs (GS) and Deutsche Bank (DB) are also under investigation. Reference Link
February 23, 2015
13:33 EDTGSKRBS could name Howard Davies as chairman this week, FT reports
Royal Bank of Scotland (RBS) could name Howard Davies as its chairman as early as Thursday, when the bank reports its full-year results, the Financial Times reports. Davies is currently chairman of insurance business Phoenix Group and chairs Morgan Stanley's (MS) risk committee. Current RBS Chairman Philip Hampton is set to become GlaxoSmithKline's (GSK) chairman as early as this summer. Reference Link
11:17 EDTGSKFTC puts conditions on Novartis's proposed acquisition of GSK oncology drugs
According to the FTC, Global pharmaceutical company Novartis (NVS) has agreed to divest all assets related to its BRAF and MEK inhibitor drugs, currently in development, to Boulder, Colorado-based Array BioPharma (ARRY) to settle charges that Novartis’s $16B acquisition of GlaxoSmithKline’s (GSK) portfolio of cancer-treatment drugs would likely be anticompetitive...If the acquisition goes forward as proposed, Novartis would likely delay or terminate development of both its BRAF and MEK inhibitors, as well as the combination product. For that reason, Novartis’s acquisition of GSK’s portfolio of cancer-treatment drugs would likely cause significant competitive harm in the U.S. markets for both the BRAF and MEK inhibitors, ultimately raising prices for consumers and depriving them of potentially superior products. Under the terms of the proposed consent agreement, Novartis is required to provide transitional services to Array BioPharma to ensure that development of the BRAF and MEK inhibitors continues uninterrupted and that competition in BRAF and MEK inhibitor markets is not reduced. Reference Link
February 20, 2015
07:23 EDTGSKAbbVie replaces Pfizer as top global pharma pick at Jefferies
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07:08 EDTGSKAmerican Academy of Allergy, Asthma and Immunology to hold annual meeting
2015 Annual Meeting of AAAAI is being held in Houston, Texas on February 20-24.
February 19, 2015
14:21 EDTUBSS&P reportedly says Greece contagion not a major risk, Reuters reports
The risk of contagion spreading from Greece to other European countries is not that large, a German newspaper quoted S&P's chief sovereign ratings officer as saying, according to Reuters. The euro zone would be able to handle an exit of the bloc by Greece, the ratings officer was quoted as saying, Reuters reported. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
08:23 EDTGSKGlaxoSmithKline weakness creates buying opportunity, says Argus
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06:04 EDTUBSFCA to investigate investment and corporate banking
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February 18, 2015
08:21 EDTNOKBofa European telecom equipment analysts hold analyst/industry conference call
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February 17, 2015
07:38 EDTGSKGlaxo replaces head of struggling U.S. drug unit, Bloomberg reports
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07:30 EDTUBSFrance requests testimony of UBS U.S. whistleblower, WSJ says
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06:39 EDTUBSBanks settle claims related to mortgage securities, Reuters says
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February 13, 2015
10:00 EDTGSKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ametek (AME) upgraded to Outperform at RW Baird... Ascena Retail (ASNA) upgraded to Buy from Hold at KeyBanc... Cabela's (CAB) upgraded to Buy from Neutral at DA Davidson... CoreSite Realty (COR) upgraded to Overweight from Equal Weight at Stephens... Cytokinetics (CYTK) upgraded to Overweight from Neutral at Piper Jaffray... DTS, Inc. (DTSI) upgraded to Outperform at Cowen... Dr Pepper Snapple (DPS) upgraded to Market Perform from Underperform at Wells Fargo... Elizabeth Arden (RDEN) upgraded to Outperform from Market Perform at BMO Capital... EnLink Midstream (ENLC) upgraded to Buy from Hold at Wunderlich... GlaxoSmithKline (GSK) upgraded to Buy from Sell at UBS... Great-West Lifeco (GWLIF) upgraded to Buy from Hold at TD Securities... Himax (HIMX) upgraded to Buy from Neutral at Chardan... Mallinckrodt (MNK) upgraded to Overweight from Neutral at JPMorgan... Medical Properties upgraded to Outperform from Sector Perform at RBC Capital... Microchip (MCHP) upgraded to Buy from Hold at Drexel Hamilton... Orbitz (OWW) upgraded to Neutral from Sell at Goldman... Plains GP Holdings (PAGP) upgraded to Overweight from Equal Weight at Stephens... SanDisk (SNDK) upgraded to Buy from Hold at Drexel Hamilton... SkyWest (SKYW) upgraded to Buy from Hold at Deutsche Bank... Stage Stores (SSI) upgraded at Sterne Agee... Tractor Supply (TSCO) upgraded to Buy from Hold at Argus... Valero (VLO) upgraded to Conviction Buy from Neutral at Goldman... Watsco (WSO) upgraded to Overweight from Equal Weight at Stephens.
08:23 EDTGSKPiper Jaffray biotech/healthcare analysts hold analyst/industry conference call
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08:19 EDTGSKAckman noncommittal on McDonald's rumors, Bloomberg reports
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06:33 EDTGSKGlaxoSmithKline upgraded to Buy from Sell at UBS
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February 12, 2015
07:42 EDTFLOFlowers Foods sees FY15 EPS 96c-$1.01, consensus 97c
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07:41 EDTFLOFlowers Foods reports Q4 adjusted EPS 20c, consensus 18c
Reports Q4 revenue $877.3M, consensus $871.62M
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