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Stock Market & Financial Investment News

News Breaks
January 2, 2013
16:02 EDTBAC, HPQ, AAPL, VIX, C Options Update; January 2, 2013
CBOE Volatility Index-VIX down 3.37 to 14.65. Option volume leaders: HPQ C AAPL BAC according to Track Data.
News For VIX;HPQ;C;AAPL;BAC From The Last 14 Days
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June 16, 2015
07:17 EDTAAPLUber previously had talks with Apple, Starbucks on logistics tie-up, WSJ says
Uber was reportedly in talks “in recent months” with Apple (AAPL) and Starbucks (SBUX) to create partnerships to help build its same-day product delivery program, but both companies instead went with startup courier service Postmates, the Wall Street Journal reports, citing people familiar with the matter. Uber launched its logistics service a year ago with plans to sign up with “dozens” of retailers, yet has announced partnerships with only six, the report says. Eat24, owned by Yelp (YELP), and GrubHub (GRUB) also held discussions with Uber but haven't reached any agreements, the report says. Reference Link
07:11 EDTBAC, CSurprise AIG ruling may make future bailouts unlikely, even if needed, NYT says
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06:13 EDTAAPLAlibaba, Foxconn could invest $500M in Snapdeal, WSJ reports
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June 15, 2015
17:32 EDTAAPLApple posts job listing seeking Apple News editor
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16:00 EDTC, AAPL, BACOptions Update; June 15, 2015
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14:13 EDTCCiti reports May credit loss 2.86% vs. 2.78% last month
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12:31 EDTCCiti, Renew Financial announce energy efficiency loan ABS transaction
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12:06 EDTCCiti faces headwinds in commodity trade finance, Reuters reports
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10:34 EDTAAPLMicron declines after another analyst says sell
The shares of memory makers Micron (MU) and SanDisk (SNDK) are falling after Morgan Stanley downgraded both stocks in a note to investors earlier today. MICRON: Morgan Stanley analyst Joseph Moore downgraded Micron to Underweight, the firm's equivalent of a "sell" rating, from Equal Weight. Moore said that his checks in Taiwan indicate that the outlook for DRAM, a form of flash memory sold by Micron, is "cautious versus expectations" for the third quarter. Previously, the analyst had expected DRAM to experience a seasonal boost in Q3, but he now expects this lift to be delayed until at least Q4. Moreover, DRAM prices will probably stay weak through Q3 as customers' inventories of DRAM are excessive, while sales of PC DRAM will probably remain weak in Q3 and could stay low in Q4, the analyst stated. Moore is concerned that DRAM supply could exceed expectations in 2016, while demand for the product could decelerate next year. Micron could have difficulty improving its earnings in 2016 from current levels, warned the analyst, who set a $21 price target on the shares. WHAT'S NOTABLE: On June 9, after conducting checks in Taiwan, research firm Piper Jaffray predicted that PC DRAM prices would continue to decline. However, the firm kept an Overweight rating on Micron, citing its belief that the stock's valuation was "compelling." Much more pessimistic was research firm Drexel Hamilton, which on June 9 cut its rating on Micron to Sell from Hold, DRAM price declines are likely to continue, the firm predicted. SANDISK: On SanDisk, Moore believes that the company will have trouble recovering from declines in purchases of its products by Apple (AAPL). Various technological issues will prevent it from selling its products to other smartphone makers, the analyst stated. Meanwhile, SanDisk is unlikely to find alternative buyers for its SSD memory, since it is not widely used, added Moore. As a result, SandDsk will have to charge lower prices for its products, according to Moore, who downgraded SanDisk to Equal Weight from Overweight and lowered his price target on shares to $75 from $80. PRICE ACTION: In early trading, Micron fell 4.5% to $24 and SanDisk gave back 3.3% to $63.90.
10:29 EDTAAPLApple to pay more than 70% of Music revenue to rights owners, Re/code reports
Apple will pay music owners 71.5% of Apple Music's subscription revenue in the U.S. and 73% of the revenue to music owners outside the U.S, reports Re/code. In an interview, Apple's Robert Kondrik said the totals include payments to people who own the sound recordings Apple Music will pay as well as the people who own the publishing rights to the underlying compositions. Kondrik says Apple’s payouts are a few percentage points higher than the industry standard, in part to account for the lengthy trial period. Reference Link
10:16 EDTBACBank of America reports May default rate 2.9% vs. 2.93% last month
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09:50 EDTAAPLApple price weakness continues, levels to watch
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09:38 EDTBAC, C, AAPLActive equity options trading on open
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08:40 EDTHPQCommScope announces partnership with Hewlett-Packard
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08:34 EDTAAPLGlobal Payments announces support for Apple Pay in the U.K.
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08:19 EDTAAPLLG Display tapped as sole OLED supplier for second-gen Apple Watch, MK reports
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08:03 EDTCMasterCard adding tokenization support for private label credit cards
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07:46 EDTAAPLJabil Circuit upgraded to Buy on continued growth at Needham
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07:33 EDTBAC, CBig banks may target fee-generating firms for acquisitions, WSJ says
Large U.S. banks may begin targeting fee-generating businesses as possible takeover targets, the Wall Street Journal reports. Big banks may start looking at businesses that don’t require too much capital for acquisitions, such as advisory businesses, payment processing, treasury services, and financial tech, the report says. Even though heightened capital and liquidity requirements make many types of acquisitions “unappealing” to big banks, the idea of banks even as big as JP Morgan (JPM) pursuing a multi-billion dollar deal is “no longer out of the realm of possibility,” the report says. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:45 EDTAAPLBeats axed plans for Sonos-like Wi-Fi speaker system, Variety reports
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