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Stock Market & Financial Investment News

News Breaks
March 25, 2014
12:28 EDTGM, WAG, CCL, SONC, HIMX, MKCOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq lagging the other major indexes for a second session in a row. Stock index futures were higher during pre-market trading, leading to a higher open for the broader market. The averages began to slip about an hour into trading and the tech-heavy Nasdaq was the first to fall into negative territory. Despite a consumer confidence reading that hit its highest level in about six years, the benchmark S&P 500 is little changed near noon. ECONOMIC EVENTS: In the U.S., the Conference Board’s index of consumer confidence rose to 82.3 in March from 78.3 a month earlier, beating expectations and hitting its highest level since the beginning of 2008. The S&P/Case-Shiller index of property values in 20 cities increased 13.2% from the prior year in January. New home sales dropped 3.3% to a 440K rate in February. Analysts had forecast a 4.9% decrease in the month. The Richmond Fed's business activity survey for March came in at -7, marking its second negative reading in a row. COMPANY NEWS: Walgreen (WAG) shares climbed 3% despite a headline earnings miss after the company said it plans to close 76 drugstores and expects more synergies from its Alliance Boots acquisition... Shares of cruise line operator Carnival (CCL) declined over 5% after the company narrowed its full-year profit forecast, citing higher costs. MAJOR MOVERS: Among the notable gainers was drive-in restaurant operator Sonic (SONC), which rose more than 9% after its quarterly earnings beat analysts’ consensus estimate. Also higher following its earnings report was spice maker McCormick (MKC), which advanced 6%. Among the noteworthy losers was Himax Technologies (HIMX), which fell 15% after Bank of America Merrill Lynch downgraded the stock two notches to Underperform from Buy. Also lower were shares of General Motors (GM), which slid 2.5% amid more press reports regarding its botched recall of vehicles with faulty ignition switches. The New York Times said GM lied about the evidence it had regarding defects in its cars, while Reuters reported that two GM customers filed an emergency motion seeking to compel the carmaker to warn owners to immediately stop driving the 1.6M vehicles that have been recalled over the switch issues. INDEXES: Near midday, the Dow was up 35.13, or 0.22%, to 16,311.82, the Nasdaq was down 19.32, or 0.46%, to 4,207.06, and the S&P 500 was up 0.34, or 0.02%, to 1,857.78.
News For WAG;CCL;SONC;HIMX;MKC;GM From The Last 14 Days
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September 23, 2014
09:01 EDTGMGM aiming for New York Cadillac headquarters by 2Q15, Reuters says
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September 22, 2014
15:06 EDTCCLNotable companies reporting before tomorrow's open
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12:28 EDTCCLCarnival technical notes ahead of earnings
In the past three months the shares have performed inline with the broader averages. The trend has been strongly up since the low of early August and the shares are trading near the 52-week high of $41.89. That high would be a highly probable upside objective on a positive surprise. On better than expected news that strongly exceeds expectations there would be room for a breakout in price. Next resistance levels as potential upside objectives depending on the degree of positive surprise would be at $42.67, $44.42, and $46.86. If the news fails to meet expectations, downside objectives could be at the following support levels: $38.24, $36.54, and $35.64. There is a small short-base in the shares which could exacerbate downside reactions in the event of a negative surprise.
11:15 EDTGMGM compensation fund approved two more fatalities, CNBC reports
General Motors' victim compensation fund has now approved 37 claims, including 21 fatalities, up from 31 claims and 19 fatalities last week, CNBC's Phil LeBeau reports via Twitter.
10:15 EDTWAGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actavis (ACT) downgraded to Equal Weight from Overweight at Barclays... Aetna (AET) downgraded to Neutral from Buy at BofA/Merrill... Auxilium (AUXL) downgraded to Hold from Buy at Stifel... CARBO Ceramics (CRR) downgraded to Neutral from Buy at Sterne Agee... Commerzbank (CRZBY) downgraded to Underperform from Neutral at Exane BNP Paribas... Concur (CNQR) downgraded to Neutral from Buy at Nomura... Dresser-Rand (DRC) downgraded to Neutral from Accumulate at Global Hunter... Finish Line (FINL) downgraded to Equal Weight from Overweight at Morgan Stanley... General Communications (GNCMA) downgraded to Hold from Buy at Drexel Hamilton... InvenSense (INVN) downgraded to Neutral from Outperform at RW Baird... Las Vegas Sands (LVS) downgraded to Market Perform from Outperform at Wells Fargo... Lindsay Corp. (LNN) downgraded at Sterne Agee... Melco Crown (MPEL) downgraded to Market Perform from Outperform at Wells Fargo... Outerwall (OUTR) downgraded to Sell from Neutral at B. Riley... PSEG (PEG) downgraded to Hold from Buy at Jefferies... Realogy (RLGY) downgraded to Underperform from Neutral at Credit Suisse... Regal-Beloit (RBC) downgraded to Accumulate from Buy at Global Hunter... SABMiller (SBMRY) downgraded to Market Perform from Outperform at Bernstein... Saba Software (SABA) downgraded to Neutral from Buy at B. Riley... Suburban Propane (SPH) downgraded to Market Perform from Outperform at Wells Fargo... Swiss Re (SSREY) downgraded to Underperform from Neutral at Exane BNP Paribas... Towers Watson (TW) downgraded to Buy from Conviction Buy at Goldman... Valmont (VMI) downgraded at Sterne Agee... Walgreen (WAG) downgraded to Equal Weight from Overweight at Barclays... Watts Water (WTS) downgraded to Neutral from Buy at Janney Capital... Wynn Resorts (WYNN) downgraded to Market Perform from Outperform at Wells Fargo... Yahoo (YHOO) downgraded to Neutral from Buy at BofA/Merrill.
07:02 EDTGMJPMorgan prefers shares of GM and Ford to Tesla
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06:52 EDTGMCalifornia to add additional incentives for electric cars, NY Times says
California Governor Jerry Brown signed several bills that are supposed to make electric cars more affordable for low income residents of the state, according to The New York Times. The bills, among other things, will boost rebates that low income earners receive when buying an electric car, and install charging stations in apartment buildings in low income areas, the newspaper stated. GM (GM), Nissan (NSANY) Ford (F) and Tesla (TSLA) are among the companies that make electric cars. Reference Link
05:55 EDTWAGWalgreen downgraded to Equal Weight from Overweight at Barclays
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September 20, 2014
21:44 EDTGMGM recalls 221,558 Cadillac XTS and Chevrolet Impala sedans, WSJ says
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September 19, 2014
14:50 EDTGMJudge orders General Motors must hand over defect files, WSJ reports
A U.S. Judge has ordered General Motors to turn over internal files and documents regarding its ignition-switch flaw and how it handled the defect to plaintiff attorneys, The Wall Street Journal says. The attorneys are representing plaintiffs who have sued the auto manufacturer alleging economic loss, personal injury, and deaths related to the company's recall of older cars with the ignition-switch defect. While General Motors is protected from liabilities that occurred before its bankruptcy in 2009, the recent ruling paves the way for plaintiff attorneys to obtain records they could use in cases before and after General Motor's bankruptcy petition, The Wall Street Journal added. Reference Link
11:18 EDTCCLCarnival October volatility elevated into Q2 and outlook
Carnival October call option implied volatility is at 26, January is at 21; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on September 23.
09:37 EDTHIMXActive equity options trading on open
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09:18 EDTHIMXHimax price target raised to $11 from $8 at Northland
Northland believes Himax's core business is recovering quickly following the Samsung revenue decline and the potential loss of Google as a LCOS customer. The firm upped its price target for shares to $11 from $8 and keeps an Outperform rating on the stock.
07:09 EDTGMGeneral Motors to launch new Cadillac sedan next year, AP reports
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September 18, 2014
15:47 EDTHIMXHimax may be back in with Google, buy shares, says Northland
Northland said Google (GOOG) has finished testing the Samsung OLED displays and have determined they are not bright enough. The analyst believes Google will go back to Himax (HIMX). Google has the option to invest in HIMX by October 21, which the firm believes they will do if they go back to them for displays. Norhtland recommends buying shares aggressively into an expected strong September quarter.
15:44 EDTHIMXHimax may be back in with Google, says Northland
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11:55 EDTWAGRite Aid falls as drugstore chain trims FY15 view
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10:02 EDTGMGeneral Motors to recall 3,200 natural gas-fueled vans, WSJ reports
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September 17, 2014
07:37 EDTGMEU car registrations up 2.1% in August, up 5.6% in July
The European Automobile Manufacturers Association reported new passenger car registrations were up by 5.6% in July and by 2.1% in August. Eight months into the year, demand for new cars amounted to 8,336,159 units, or 6.0% more than in the same period last year, the group noted. Publicly traded automakers include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
07:26 EDTGMGM to cut supply, but not prices, as it seeks to revive Cadillac, WSJ says
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