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Stock Market & Financial Investment News

News Breaks
April 2, 2014
10:55 EDTWFC, WFC, ACN, ACN, N, N, CTSH, CTSH, CSCO, CSCO, ADBE, ADBE, NTAP, NTAP, TIVO, TIVO, RENT, RENTWells Fargo to hold a summit
4th Annual Tech Transformation Summit is being held in San Francisco on April 2-3 with webcasted company presentations to begin on April 2 at 11 am; not all company presentations may be webcasted. Webcast Link
News For WFC;ACN;N;CTSH;CSCO;ADBE;NTAP;TIVO;RENT From The Last 14 Days
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October 8, 2014
07:32 EDTNFederal Reserve Bank of Chicago President to speak on the economy
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07:20 EDTWFCCapital Link to hold a forum
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07:13 EDTWFCBank dealers agree to revised derivatives rules, FT reports
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07:13 EDTACNAccenture disclosures should lessen cannibalization fears, says RBC Capital
After attending Accenture's Analyst Day, RBC Capital believes the company's discussion about the size of its legacy ERP business and digital and cloud practices should cause investors' concerns about cannibalization to slowly decline. The firm keeps an $87 price target and Outperform rating on Accenture.
06:56 EDTWFCBarclays lists several Large-Cap banks with the most Q3 upside
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06:35 EDTCSCOCisco's reorganization affects up to 25,000 employees, Business Insider reports
Cisco's reorganization of its routing and switching engineering business could affect up to 25,000 employees, reports Business Insider. Citing sources in Silicon Valley, the reorganization involves massive changes for the unit, moving from individual teams to two big overarching teams with one group focused on software and the other on hardware. Due to the changes, sources say a lot of senior employees have begun send out resumes. Reference Link
October 7, 2014
16:02 EDTACNAccenture awarded $16.3M contract
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07:36 EDTCSCOCisco unlikely to split-up despite speculation, says UBS
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06:52 EDTCSCOAruba Networks may be displacing Cisco in some verticals, says RBC Capital
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06:51 EDTWFCJustice Department set to attack more large banks by year end, NY Times says
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06:01 EDTCTSHCognizant acquires Cadient Group, terms not disclosed
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October 6, 2014
17:58 EDTADBEAdobe targets FY15 adjusted EPS approximately $2.00, consensus $2.07
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11:02 EDTCSCOHP rises as split viewed as potential prelude to deals
Shares of HP (HPQ) are climbing after the company announced that it would split itself into two publicly traded companies. Analysts were mostly upbeat on the news and tech news website Re/code said that the two companies would be "in deal-making mode" following the split. WHAT'S NEW: HP this morning said it would split itself into two companies by the end of its fiscal 2015. One company will include HP's technology infrastructure, software and services businesses, to be known as "Hewlett-Packard Enterprise," while the other will include the company's PC and printing businesses and be called "HP Inc." Meg Whitman, who is currently the CEO of HP, will become CEO of Hewlett-Packard Enterprise and chairman of HP, Inc. ANALYST REACTION: Shareholders will likely view the move positively, as limited synergies exist between HP's enterprise business and its PC and printing business, Deutsche Bank analyst Sherri Scribner wrote. Moreover, the forward price to earnings ratio of the enterprises unit, whose margins are set to expand, are more likely to reach close to 11x following a split, in-line with the multiple of Xerox (XRX) and CSC (CSC), the analyst contended. Noting that HP remains one of the cheapest names in the S&P 500, Scribner kept a $40 price target and Buy rating on the shares. The split is "a bold and smart move" by HP that will give it the financial flexibility needed to sell off one or both of the PC and printing businesses, wrote Cantor analyst Brian White. The shareholders of EMC (EMC), which reportedly had been in discussions about merging with HP, would have difficulty accepting HP's printer and PC business, according to White. The analyst raised his price target on HP to $39 from $34.50 but kept a Hold rating on the stock. WHAT'S NOTABLE: Both Hewlett-Packard Enterprise and HP Inc. will "be in deal-making mode" after the split, Re/code stated. HP Inc. is likely to draw attention from both Dell and China's Lenovo (LNVGY), which were both approached by HP about a possible deal over the last year, the website stated. Meanwhile, Hewlett-Packard Enterprise could restart dormant merger talks with EMC, while Dell and Cisco (CSCO) could emerge as bidders and offer shareholders of both Hewlett-Packard Enterprise and EMC better terms, Re/code stated. However, Cisco has carried out a more conservative M&A strategy lately, while its CEO, John Chambers, who is preparing to retire soon, said the company would not be interested in buying EMC, Re/code noted. PRICE ACTION: In mid-morning trading, HP jumped 4.6% to $36.83, while shares of EMC were down fractionally.
09:19 EDTADBEAdobe digital media SVP confident ahead of new launches, Re/code says
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07:55 EDTRENTRentrak price target raised to $84 from $72 at Brean Capital
Brean Capital raised its price target on Rentrak (RENT) to $84 from $72 citing positive momentum for TV Everywhere and lower risk in the stock given the company's operating leverage, strong cash flow, and potential for value expansion. The firm believes Rentrak can replace Nielson (NLSN) and reiterates its Buy rating on shares of Rentrak.
07:50 EDTCSCOCisco shares could reach $40 with splits, spin-offs, says RBC Capital
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07:29 EDTWFCHead of NYDFS reaching out to banks in wake of JPMorgan breach, FT says
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07:14 EDTCTSHCognizant acquisition strategically compelling but expensive, says Bernstein
After Cognizant announced plans to buy healthcare services company TriZetto, Bernstein thinks the deal is strategically compelling but expensive. The firm believes that the deal improves Cognizant's competitive position in the IT services market. It reiterates a $61 price target and Outperform rating on Cognizant.
06:38 EDTCSCOSpun off HP companies could be takeover targets, Re/code says
After HP (HPQ) splits into two publicly traded companies, both of those companies could become takeover targets, according to Re/code. The PC and printing unit could interest Dell or Lenovo (LNVGY), while Hewlett-Packard Enterprises could merge with EMC (EMC) and/or become a target for Dell and Cisco (CSCO), the website stated. Reference Link
06:27 EDTWFCJPMorgan hackers hit about nine other firms, NY Times says
The group of hackers that infiltrated JPMorgan (JPM) also penetrated about nine other financial institutions, according to The New York Times. Washington intelligence officials and policy makers are much more concerned about the attacks than they have disclosed, the newspaper added. Other publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded cybersecurity companies include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC).Reference Link
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