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Stock Market & Financial Investment News

News Breaks
July 10, 2014
16:25 EDTCRAY, SRPT, LOW, REG, LL, HD, PBPB, AMRE, TSCO, VZOn The Fly: Closing Wrap
Stocks on Wall Street began the session deep in negative territory, as fears about the health of one of Portugalís largest banks, coupled with weak economic data out of Italy, prompted a sell-off in Europe, which spilled over to the U.S. The major averages moved generally higher after the open, though the early losses proved too much to overcome. The reignited fears about Europe's periphery come just as the U.S. corporate earnings season is set to pick up in earnest next week. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 11K to 304K in the week ended July 5. Wholesale inventories rose 0.5% in May, while sales edged up 0.7%, which were both a little below expectations. In Europe, concerns about the periphery rose again as the parent company of Portugal's Espirito Santo bank missed a debt payment, leading the country's interest rates higher and equities in the Eurozone lower. Also, Italy's industrial output saw its steepest monthly fall since late 2012, having dropped 1.2% in May. In China, trade performance improved in June but still missed market forecasts. Exports rose 7.2% in June from a year earlier, missing the consensus forecast for a rise of 10.6%, while imports grew 5.5% in the month, versus the 5.8% growth expectation. COMPANY NEWS: Shares of Verizon (VZ) advanced 74c, or 1.51%, to $49.64 to lead the handful of gainers on the Dow Jones Industrial Average. The rise came after Verizon CEO Lowell McAdam said in an interview on CNBC that his company added over 1.4M postpaid subscribers in Q2, with "record" tablet growth and "very strong" smartphone growth. Afterward, Wells Fargo said in a note to investors that the net adds were higher than the firm's recently increased estimate and above Street consensus... Conversely, Home Depot (HD) was the Dow's worst performer, falling $1.33, or 1.65%, to $79.40. After hardwood floors retailer Lumber Liquidators (LL) and farm products retailer Tractor Supply (TSCO) pre-announced weaker than expected Q2 results, Deutsche Bank analyst Mike Baker reduced his estimates for Home Depot and peer Lowe's (LOW), explaining that the comparative sales of those two large home improvement retailers have historically had a positive correlation with those of Tractor Supply and Lumber Liquidators. MAJOR MOVERS: Among the notable gainers was AmREIT (AMRE), which rose $3.25, or 16.93%, to $22.45 after Regency Centers (REG) offered to acquire the company for $22 per share, payable in cash and/or stock. Also higher was Cray (CRAY), which rallied $4.27, or 15.69%, to $31.49 after the company announced it has been awarded a $174M supercomputer deal from the National Nuclear Security Administration. Among the noteworthy losers was sandwich maker Potbelly (PBPB), which plunged $3.68, or 25.12%, to $10.97 after the company's second quarter and fiscal 2014 outlook fell significantly short of analysts' consensus estimates. Also lower was Sarepta Therapeutics (SRPT), which sunk $3.35, or 12.94%, to $22.54 after the company announced data through week 144 from its eteplirsen study in patients with Duchenne muscular dystrophy. INDEXES: The Dow dropped 70.54, or 0.42%, to 16,915.07, the Nasdaq fell 22.83, or 0.52%, to 4,396.20, and the S&P 500 declined 8.15, or 0.41%, to 1,964.68.
News For VZ;HD;LOW;TSCO;LL;SRPT;AMRE;REG;CRAY;PBPB From The Last 14 Days
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August 18, 2015
10:20 EDTHDHome Depot price target raised to $115 from $108 at Cantor
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10:15 EDTLLLumber Liquidators hires Jill Witter as Chief Compliance and Legal Officer
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09:23 EDTHDOn The Fly: Pre-market Movers
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09:20 EDTHDHome Depot expects 2015 adjusted debt to EBITDA ratio will be slightly over 2x
The company says it will tap L-T debt markets in the fall.
09:18 EDTHDHome Depot reports July SSS up 8.2%
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09:18 EDTHDHome Depot says positive housing data support its home improvement growth
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08:52 EDTHDHome Depot breaks out to fresh life high following earnings
Shares were last at $121 in the pre-market, edging the prior life high at $120.75. As long as price remains above that prior high, a run to $125 and eventually to $130 may be possible. A breakdown back below the prior high would suggest the move to date has priced-in the better news. Support would then be at $119.70, the prior day close, and then at $118.13.
08:03 EDTLOWLowe's August volatility elevated into Q2 and outlook
Lowe's August call option implied volatility is at 48, September is at 23; compared to its 52-week range of 16 to 29, suggesting large price movement into the expected release of Q2 results on Aug 19.
07:21 EDTHDFutures suggesting slightly lower open
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07:21 EDTHDFutures suggesting slightly lower open
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06:04 EDTHDHome Depot raises FY15 EPS growth to 13% from 11%-12%, consensus $5.27
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06:02 EDTHDHome Depot reports Q2 comparable store sales up 4.2%
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06:01 EDTHDHome Depot reports Q2 adjusted EPS $1.71, consensus $1.71
Reports Q2 revenue $24.83B, consensus $24.69B
05:28 EDTCRAYCray awarded $6M contract by DMI
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August 17, 2015
15:00 EDTHDHome Depot August 120 straddle priced for 3.3% movement into Q2
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14:48 EDTHDNotable companies reporting before tomorrow's open
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14:08 EDTHDHome Depot August volatility elevated into Q2 and outlook
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12:55 EDTLOW, HDEarnings Watch: Home Depot up 6% over last three months
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07:39 EDTVZTMC to hold a conference
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06:22 EDTSRPTPiper's Tenthoff sees select biotech names outperforming in second half
Piper Jaffray analyst Edward Tenthoff expects drug launches, clinical data read-outs and potential partnerships to drive outperformance for select biotech names in the second half of 2015. Despite some recent profit-taking, 2015 has been another strong year for biotech stocks, Tenthoff tells investors in a research note. Names with important second half of the year catalysts include Vertex (VRTX), Regeneron (REGN), Seattle Genetics (SGEN), Exelixis (EXEL), Sarepta (SRPT), Novavax (NVAX), Arrowhead (ARWR), Array BioPharma (ARRY), Alnylam (ALNY), Genocea (GNCA), CymaBay (CBAY), Idera Pharmaceuticals (IDRA), Vitae Pharmaceuticals (VTAE).
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