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Stock Market & Financial Investment News

News For V;MA;AXP;ACN;XRX;PAY;DFS;VNTV;IFX;WMT;BAC;WFC;TI From The Last 14 Days
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September 30, 2014
16:00 EDTBACOptions Update; September 30, 2014
iPath S&P 500 VIX Short-Term Futures up 37c to 31.18. Option volume leaders: AAPL TSLA NFLX BAC TWTR AMZN HTZ DOW C F NFLX PBR according to Track Data.
10:22 EDTAXPeBay advances after announcing PayPal spin off
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10:02 EDTACNOn The Fly: Analyst Initiation Summary
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10:01 EDTMA, BAC, VBank of America begins rollout of chip debit cards
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07:53 EDTDFSDiscover volatility elevated into eBay announcing the separation of PayPal
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07:40 EDTACN, ACNAccenture initiated with an Outperform at CLSA
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07:12 EDTAXPAmerican Express names Neal Sample as president, Enterprise Growth
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07:06 EDTACNAccenture selected by AIG for life and annuity software
Accenture (ACN) has been selected by American International Group (AIG) to transform its software platform. AIG will implement the Accenture Life Insurance Platform across its U.S. life insurance business to create and modify products faster in order to attract and retain customers. ALIP will also help AIG achieve operational efficiencies by simplifying and automating processes.
07:03 EDTAXPeBay says Dan Schulman to lead PayPal
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07:02 EDTAXPeBay says Devin Wenig to become CEO of new eBay company
Devin Wenig, currently president of eBay Marketplaces, will become CEO of the new eBay (EBAY) company. As CEO of eBay, Wenig will lead the eBay Marketplaces and eBay Enterprise businesses. Revenue over the last twelve months1 for these two businesses grew approximately 10% year-over-year to $9.9 billion, with eBay Marketplaces accounting for about $8.7 billion. eBay Marketplaces and eBay Enterprise collectively handled approximately $85 billion of gross merchandise volume and gross merchandise sales, which grew 13 percent year over year. Scott Schenkel, currently the CFO of eBay Marketplaces will become the CFO of the new eBay company. Concurrent with the announcement of the business separation plan, the company also today announced the appointment of Dan Schulman to be President of PayPal, effective immediately, and CEO-designee of the standalone PayPal company following separation. Schulman joins PayPal from American Express (AXP), where he was president of the companyís Enterprise Growth Group. A seasoned leader in multiple industries, Schulman has held senior executive and CEO roles at AT&T, Priceline and Virgin Mobile, prior to joining American Express. Goldman, Sachs & Co. and Allen & Company LLC are serving as financial advisors and Wachtell, Lipton, Rosen and Katz is serving as legal counsel to eBay Inc.
05:29 EDTACNAccenture, Alcatel-Lucent announce strategic alliance
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September 29, 2014
18:15 EDTWMTWal-Mart blames Tracy Morgan for his own injuries in car crash, USA Today says
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11:45 EDTBACBofA to pay $7.65M to SEC to settle regulatory capital overstatement charges
The Securities and Exchange Commission charged Bank of America Corporation with violating internal controls and recordkeeping provisions of the federal securities laws after it assumed a large portfolio of structured notes and other financial instruments as part of its acquisition of Merrill Lynch. Bank of America agreed to pay a $7.65M penalty to settle the charges stemming from regulatory capital overstatements that it made due to its internal accounting control deficiencies and books and records failures. In addition to the $7.65M penalty, the SECís order requires Bank of America to cease and desist from committing or causing any violations or future violations of Sections 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934.
11:29 EDTMAMasterCard faces added damages in U.K. card fee lawsuit, Bloomberg says
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08:50 EDTWMTWal-Mart names Instagram CEO and co-founder Kevin Systrom to board
Wal-Mart Stores (WMT) announced that its Board of Directors has appointed Kevin Systrom, an entrepreneur, software engineer and co-founder of photo-sharing service Instagram (FB), as a new member of the company's Board, effective September 26. Systrom became the 15th member of the Board and will also serve as a member of the company's Technology and eCommerce Committee and its Compensation, Nominating and Governance Committee. Systrom is currently CEO of Instagram, where he is responsible for its day-to-day operations and has overseen its growth to more than 200 million monthly active accounts.
07:58 EDTBAC, WFCWarren calls for hearing on 'disturbing' Fed tapes, Reuters reports
Two members of the the Senate Banking Committee, Democrats Elizabeth Warren and Sherrod Brown, called for an investigation into the issues raised by secretly taped conversations between officials at Goldman Sachs (GS) and supervisors at the New York Federal Reserve, reported Reuters. Other large U.S. banks include Bank of America (BAC), Citigroup (C), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:25 EDTAXPOracle to hold a conference
Open World 2014 to be held in San Francisco on September 28-October 2.
07:15 EDTACN, WFCNational Association of Business Economics to hold annual meeting
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September 26, 2014
16:01 EDTBACOptions Update; September 26, 2014
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12:29 EDTTITelecom Italia not up for sale, but welcomes cash infusions, Reuters says
Telecom Italia is not up for sale, but the company is open to cash infusions, Reuters reports, citing a board member Tarak Ben Ammar. When questioned about reports U.S. businessman Sol Trujullo is seeking to bid for a stake in Telecom Italia, Ammar said, "We don't know him and he never contacted us." Reference Link
10:01 EDTPAYOn The Fly: Analyst Initiation Summary
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08:01 EDTTITelecom Italia says will consider proposal for extension received from Fintech
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September 25, 2014
19:06 EDTPAYVeriFone initiated with a Hold at Stifel
16:20 EDTPAYVeriFone initiated with a Hold at Stifel
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16:00 EDTBACOptions Update; September 25, 2014
iPath S&P 500 VIX Short-Term Futures up 2.09 to 30.38. Option volume leaders: AAPL TSLA NFLX BAC TWTR AMZN BP PBR GILD DOW according to Track Data.
15:10 EDTWFC, BACHolder resignation as AG positive for banks, says Rafferty Capital
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08:04 EDTPAYVeriFone UX Solutions certified for Interac Flash 1.5 requirements
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08:00 EDTAXP, BACBuy American Express and Bank of America into earnings, says Morgan Stanley
Morgan Stanley says to buy American Express (AXP) and Bank of America (BAC) going into Q3 earnings. The firm expects American Express to report accelerated credit card spending growth and views valuation as compelling and views Bank of America is a play on rising rates and improving expenses.
06:39 EDTTIEx-Telstra CEO aiming for $9.6B offer for Telecom Italia share, Bloomberg says
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September 24, 2014
15:04 EDTBAC, WFCGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
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14:10 EDTACNAccenture FY15 guidance below Street not surprising, says Wells Fargo
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12:29 EDTWMTOn The Fly: Midday Wrap
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11:19 EDTVVisa creates 2K technologists positions, new India technology center
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09:49 EDTWMTGreen Dot's 2014 guidance incorporates Wal-Mart, says Piper Jaffray
Green Dot (GDOT) announced this morning that it will offer its GoBank product at Wal-Mart (WMT) stores nationwide by the end of October. Piper said GoBank has been piloted in a few stores in Texas and the launch has already been incorporated into Green Dot's 2014 guidance and accounts for relatively little in revenues. The firm views the news as a positive in total and said it shows continued traction within GoBank and its relationship with Wal-Mart. Shares of GoBank are Overweight rated with a $24 price target.
09:05 EDTACN, WMTOn The Fly: Pre-market Movers
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07:12 EDTACNAccenture sees FY15 new bookings $34B-$36B
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07:11 EDTACNAccenture increases dividend 10% to $1.02 per share
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07:11 EDTACNAccenture sees Q1 revenue $7.55B-$7.8B, consensus $7.8B
Accenture expects net revenues for Q1 of $7.55B-$7.8B, which assumes a foreign-exchange impact of negative 2% compared with the 1Q14.
07:10 EDTACNAccenture sees FY15 EPS $4.74-$4.88, consensus $4.91
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07:07 EDTACNAccenture reports Q4 EPS $1.08, consensus $1.10
Reports Q4 revenue $7.8B, consensus $7.62B. Reports Q4 free cash flow $1.5B. Reports Q4 bookings $8.3B.
05:14 EDTWMTGreen Dot, Wal-Mart announce nationwide rollout of GoBank
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September 23, 2014
15:33 EDTBACBofA announces $10B Catalytic Finance Initiaive, to committ $1B in capital
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15:31 EDTACNAccenture October 80 weekly straddle priced for 3.9% move into Q4
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15:27 EDTACNNotable companies reporting before tomorrow's open
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08:12 EDTMAEconomic Club of Canada to h old a luncheon meeting
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08:07 EDTACNAccenture weekly volatility increases into Q4 and outlook
Accenture September weekly call option implied volatility is at 51, October weekly is at 30, November and January is at 21; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on September 24.
06:13 EDTWFCWells Fargo Advisers fined $5M by SEC for failing to maintain controls
The Securities and Exchange Commission yesterday charged Wells Fargo Advisors LLC with failing to maintain adequate controls to prevent one of its employees from insider trading based on a customerís nonpublic information. The SEC also charged Wells Fargo for unreasonably delaying its production of documents during the SECís investigation and providing an altered internal document related to a compliance review of the brokerís trading. Wells Fargo, which admits wrongdoing, has agreed to pay a $5M penalty to settle the SECís charges, which are the first-ever against a broker-dealer for failing to protect a customerís material nonpublic information. Reference Link
September 22, 2014
18:20 EDTWFCSEC fines Wells Fargo Advisors $5M for not stopping inside trade, FT reports
The brokerage arm of Wells Fargo (WFC), Wells Fargo Advisors, was fined $5M by the SEC for not stopping an employee from trading on customer information ahead of the 2010 acquisition of Burger King (BKW), sometimes called ďthe sandwich deal," FT reports. Reference Link
10:00 EDTBACBank of America rallies, levels to watch
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07:14 EDTPAY, VGSM Association to hold a conference
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September 20, 2014
19:48 EDTBACBank of America could climb over 50%, Barron's says
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September 19, 2014
16:00 EDTBACOptions Update; September 19, 2014
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07:18 EDTMAWeb.com to hold a summit
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06:17 EDTTITelefonica acquires Brazil's GVT from Vivendi
Spanish telecom company Telefonica (TEF) agreed to buy Brazilian telecom unit Global Village Telecom, or GVT, from Vivendi (VIVHY) for EUR4.66B in cash as well as a payment in shares representing 12.0% of the share capital of Telefonica Brasil, after its integration with GVT. As part of the agreement, Vivendi has accepted Telefonicaís offer to acquire 1.1B ordinary shares held by Telefonica in Telecom Italia (TI), currently representing 8.3% of Telecom Italiaís voting share capital (corresponding to 5.7% of its total share capital), in exchange of 4.5% of Vivendiís capital in the company resulting from the integration between Telefonica Brasil and GVT.
September 18, 2014
16:00 EDTBACOptions Update; September 18, 2014
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14:50 EDTXRXXerox downgraded to Hold from Buy at Standpoint Research
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14:31 EDTMA, AXPCapital One said to bump Amex as Costco Canada card issuer, Bloomberg says
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14:14 EDTMA, AXPCapital One said to replace American Express as Costco Canada card issuer
MasterCard said to be processor for new Costco Canada cards. Reported by Bloomberg.
14:08 EDTWFC, BACBanks look to high-interest personal loans to boost revenue, WSJ says
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11:53 EDTAXPCostco to stop accepting Amex cards in Canada on Jan 1, 2015 Globe and Mail says
Costco (COST) said it will not renew its credit card relationship with American Express (AXP) when it expires on December 31 of this year. Therefore, it will not accept Amex cards in Canada beginning January 1, 2015, The Globe and Mail reports. Reference Link
10:40 EDTWMTWal-Mart to hire 60K seasonal associates, 10% more than last year
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07:19 EDTACNAccenture weekly volatility elevated into Q4 and outlook
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07:14 EDTACNAccenture should be bought on any weakness, says Wells Fargo
Wells Fargo expects Accenture to report in-line Q4 results but believes that its initial FY15 guidance could come in below expectations, partly due to reduced IT spending this year by some enterprises. However, the firm still thinks that the company has "the most admirable" IT services business" and recommends buying the stock on any near-term weakness caused by a guidance miss. It keeps an Outperform rating on the shares.
05:31 EDTVVisa to undertake assessment of stake in Monitise
Visa (V) and Monitise entered into an alliance agreement in 2009. At the same time, Visa began investing in Monitise. Given the maturation of Monitise as a company, Visa is considering its options with respect to the investment and has engaged J.P. Morgan Securities (JPM) to assist. Visa will also be lessening its dependence on external mobile development resources. In 2009, in conjunction with its commercial partnership, Visa invested in Monitise as a 14.4% owner of the company in order to provide capital support to a leader in the evolution of the mobile payments sector. Over time, Visaís holdings have been reduced to its current 5.5% stake in the company. This reduction in ownership and associated influence is consistent with Visaís investment practice to seed emerging players and, over time, taper that influence as the partner company grows. Under their agreement, Monitise will provide Visa with mobile platform development services through 2016. As both Visa and the payments industry evolve at a rapid pace, Visa intends to continue increasing its investment in its own in-house capabilities and, as a result, reducing its use of external resources.
September 17, 2014
16:00 EDTBACOptions Update; September 17, 2014
iPath S&P 500 VIX Short-Term Futures down 24c to 27.63. Option volume leaders: AAPL TSLA BAC TWTR AMZN X WLT KO PBR according to Track Data.
13:28 EDTWFCWells Fargo eases lending requirements for buying apartments, Financial Times says
Wells Fargo (WFC) is easing lending requirements for apartment purchases, reports the Financial Times. In an interview, the head of Wells Fargo mortgage production Franklin Codel said, ďWeíre tweaking our condo approvals to make them more consistent with what Fannie Mae (FNMA) and Freddie Mac (FMCC) allow." Reference Link
13:16 EDTWFC, BACHolder says DOJ looking to charge bank executives, Washington Post says
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10:56 EDTMAMasterCard targets 11%-14% revenue CAGR over 2013-2015
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10:53 EDTMAMasterCard: July/August growth trends same, slightly better than July 28 report
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10:50 EDTMAMasterCard sees FY14 revenue growth at lower end of 3-year range
FY14 revenue consensus $9.41B. Sees FY14 operating expense growth rate in low teens, including impact of acquisitions. Sees FY14 Euro and Real impact net neutral and underlying local currencies to have 1 ppt headwind on net revenue. Guidance from slides for analyst day meeting.
10:15 EDTDFSDiscover calls active, rumored to be eyed as target by Apple, report
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10:04 EDTDFSDiscover rumored to be eyed as target by Apple, Bank Innovation says
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09:45 EDTWMTWal-Mart faces criticism for dismissing China workers, Bloomberg reports
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09:22 EDTTITelecom Italia not holding talks with Oi, Tim Participacoes says,Reuters reports
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09:01 EDTTITim Participacoes says no talks between Oi, Telecom Italia, Bloomberg reports
Bloomberg cites a regulatory filing from Tim Participacoes (TSU).
08:19 EDTWFCNational Press Club holds a luncheon meeting
Wells Fargo & Co. CEO John Stumpf discusses the role of financial services in the real economy at a National Press Club luncheon meeting being held in Washington, D.C. on September 17 at 1 pm. Webcast Link
08:02 EDTPAYVeriFone expands Point-to-Point Encryption services to UK
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06:54 EDTBACNY Attorney General announces NYC bank identity-theft ring takedown
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06:06 EDTWMTWal-Mart to pay $66,000 to settle false advertising investigation with NY AG
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September 16, 2014
19:18 EDTVMicrosoft to add Kraft CFO Teri List-Stoll, Visa CEO Charles Scharf to board
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18:59 EDTVMicrosoft to add Kraft CFO List-Stoll, Visa CEO Scharf to board, Bloomberg says
Microsoft board members Marquardt and Dublon are retiring from the board, according to Bloomberg, citing an emailed press release from the company.
16:00 EDTBACOptions Update; September 16, 2014
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14:44 EDTBACVirginia AG files $1.15B lawsuit against banks that sold RMBS during crisis
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13:52 EDTWMTWal-Mart finalizes Coca-Cola ad agreement in New York, Bloomberg says
New York attorney general Eric Schneiderman said that Wal-Mart (WMT) charged New York customers more for Coca-Cola (KO) products than stated in national circulars, going against inaccurate advertising regulations, according to Bloomberg, citing a statement from Schneiderman. The retailer will pay a $66K penalty to settle the matter. Reference Link
13:15 EDTBACBank of America gives up $6B in revenue with new consumer strategy, Reuters says
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11:54 EDTBACBank of America reportedly cutting jobs in NY, Houston, DealBreaker says
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11:18 EDTTITelecom Italia says mulling buyout of Oi S.A., Bloomberg says
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11:07 EDTTITelecom Italia considering buyout of Oi S.A, Bloomberg reports
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09:59 EDTV, MA, ACNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ACI Worldwide (ACIW) initiated with a Neutral at Sterne Agee... ADP (ADP) initiated with a Market Perform at Bernstein... ANSYS (ANSS) initiated with a Sector Perform at RBC Capital... Accenture (ACN) initiated with a Market Perform at Bernstein... Blackhawk (HAWK) initiated with a Neutral at Sterne Agee... Coca-Cola (KO) initiated with a Market Perform at Cowen... Cognizant (CTSH) initiated with an Outperform at Bernstein... Constellation Brands (STZ) initiated with a Market Perform at Cowen... Dr Pepper Snapple (DPS) initiated with a Market Perform at Cowen... GenCorp (GY) initiated with a Hold at KeyBanc... Global Payments (GPN) initiated with a Neutral at Piper Jaffray... GoPro (GPRO) initiated with a Buy at Cleveland Research... Green Dot (GDOT) initiated with a Neutral at Sterne Agee... Lionsgate (LGF) initiated with a Buy at ISI Group... MEDNAX (MD) initiated with a Neutral at SunTrust... MasterCard (MA) initiated with a Buy at Sterne Agee... Molson Coors (TAP) initiated with an Outperform at Cowen... Monster Beverage (MNST) initiated with a Market Perform at Cowen... NetSuite (N) initiated with an Outperform at RBC Capital... Oracle (ORCL) assumed with a Sector Perform at RBC Capital... PepsiCo (PEP) initiated with an Outperform at Cowen... SAP (SAP) initiated with a Sector Perform at RBC Capital... Teekay (TK) initiated with a Hold at Deutsche Bank... Tesla (TSLA) initiated with a Buy at ISI Group... Visa (V) initiated with a Buy at Sterne Agee... Western Union (WU) initiated with a Neutral at Sterne Agee... Workday (WDAY) initiated with an Outperform at RBC Capital... Yelp (YELP) initiated with a Neutral at RW Baird... Zillow (Z) initiated with an Overweight at Stephens... zulily (ZU) initiated with an Outperform at RW Baird.
09:59 EDTACNOn The Fly: Analyst Downgrade Summary
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09:36 EDTWMTActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX TSLA YHOO FB PBR MU AA TWTR WMT
07:43 EDTBACRBC Capital to hold a conference
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07:40 EDTMAMasterCard initiated with an Outperform at Bernstein
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07:40 EDTVVisa initiated with an Outperform at Bernstein
Target $262.
07:40 EDTACNAccenture initiated with a Market Perform at Bernstein
Target $86.
07:37 EDTACNAccenture downgraded to Neutral from Buy at Citigroup
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07:19 EDTWFCCompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
06:49 EDTWMTWal-Mart spokesman steps down due to resume fib, Bloomberg says
The Chief spokesman for Wal-Mart, David Tovar, stepped down after the retailer learned a nearly 20-year fabrication in his official resume, according to Bloomberg, citing a person familiar with the situation. Reference Link
06:03 EDTBACHuntington Bancshares completes acquisition of 24 Bank of America branches
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05:50 EDTWMTWal-Mart, AutoInsurance.com announce national expansion
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