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Stock Market & Financial Investment News

News Breaks
July 11, 2014
12:36 EDTMTG, LO, JOEZ, AMZN, WFC, RCII, RAIOn The Fly: Midday Wrap
Stocks on Wall Street were mixed and fairly flat at midday as fears about Europe's periphery may have lessened a bit after stock markets in Portugal rebounded, though they have not left the picture by any means. The day's big events stateside, including the earnings report from Wells Fargo (WFC) and the confirmation that Lorillard (LO) and Reynolds American (RAI) are in talks about a potential tie-up, have not been enough so far to encourage buyers to step in with conviction. ECONOMIC EVENTS: In the U.S., no economic data was reported early in the session. The June federal budget statement is expected to be released at 2:00 pm ET, with analysts predicting a $79.0B surplus for the month. COMPANY NEWS: Shares of Wells Fargo, the nationís largest mortgage lender and the first major U.S. bank to report on its second quarter results, slipped xx% near noon after posting earnings of $1.01 a share that matched analysts' consensus forecast. Wells did note that its credit performance continued to improve in Q2 and CEO John Stumpf said he is "optimistic about the future" for the bank... Lorillard advanced 3%, while Reynolds American fell 2%, after the two cigarette makers confirmed earlier today that they are holding talks about a possible merger, as has been speculated by various media reports in recent weeks. MAJOR MOVERS: Among the notable gainers was Amazon.com (AMZN), which climbed 4.5% after consulting firm ChannelAdvisor (ECOM) reported that the company's same-store sales growth had accelerated significantly in June compared with May. Also higher was Joe's Jeans (JOEX), which rose 16% and was upgraded to Buy at B. Riley following the company's Q2 earnings report. Among the noteworthy losers was Rent-A-Center (RCII), which plunged 11% after the company warned that its revenue and earnings for Q2 will not meet expectations. Also lower was MGIC Investment (MTG), which fell nearly 11% and was removed from Goldman's Conviction Buy list due to increased uncertainty from the release of the FHFA's proposed private mortgage insurer eligibility requirements. INDEXES: Near midday, the Dow was down 26.29, or 0.16%, to 16,888.78, the Nasdaq was up 5.66, or 0.13%, to 4,401.86, and the S&P 500 was down 2.71, or 0.14%, to 1,961.97.
News For WFC;LO;RAI;AMZN;MTG;RCII;JOEZ From The Last 14 Days
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May 22, 2015
16:00 EDTAMZNOptions Update; May 22, 2015
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11:59 EDTLO, RAIAppeals court ruling mixed for cigarette makers, WSJ reports
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09:34 EDTAMZNActive equity options trading on open
Active equity options trading on open: AAPL BABA AMZN FB MU BIDU SDRL BAC INTC EXPE CHK FEYE
May 21, 2015
16:00 EDTAMZNOptions Update; May 21, 2015
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15:44 EDTRAI, LOReynolds-Lorillard deal expected to receive FTC clearance next week, WSJ says
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15:25 EDTLO, RAILorillard, Reynolds American deal expected to be cleared by FTC, DJ reports
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13:19 EDTAMZNAmazon.com breaks above short-term bearish price channel, levels to watch
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12:33 EDTWFCWells Fargo to add Financial Engines advice to platform, Reuters reports
Wells Fargo (WFC) plans to add Financial Engines' (FNGN) advice offering to the bank's retirement platform, according to Reuters, citing a Wells Fargo presentation. Shares of Financial Engines are up 7% following the report. Reference Link
12:30 EDTWFCWells Fargo to sign 401(k) pact with Financial Engines, Reuters reports
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09:36 EDTAMZNActive equity options trading on open
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08:23 EDTAMZNAmazon.com price target raised to $520 on bullish trends at Morgan Stanley
Morgan Stanley raised Amazon.com's price target to $520 from $450 on bullish trends and multiple sources of potential upside. The firm's analyst believes the 2016 consensus gross profit view is 5% too low and implies a deceleration to 0% in 2016, which has never happened. Morgan Stanley said fulfillment costs per unit are falling for the first time since 2010 and will continue in 2015, but expects a return to investment in 2016. The firm also said international retail losses aren't as bad as perceived and believes they will moderate in 2016, given recent incremental discipline. Morgan believes Street estimates for AWS are too conservative, given its easy comps and the Q1 margin upside. As a result, Morgan Stanley raised its gross profit estimates for Amazon by 1% for 2015 and by 2% for 2016 and keeps its Overweight rating on the shares.
05:28 EDTAMZNAmazon.com announces Prime Now service from local stores in Manhattan
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May 20, 2015
18:44 EDTAMZNeBay tests Amazon.com Prime-type program in Germany, WSJ reports
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13:37 EDTAMZNEarnings Watch: Analysts concerned with competition hurting NetApp results
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09:36 EDTAMZNActive equity options trading on open
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08:21 EDTWFCATM data theft soars to highest rate in two decades, WSJ says
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May 19, 2015
11:52 EDTAMZNDepartures raises concerns of Google's commitment to ecommerce, Re/code says
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May 18, 2015
14:04 EDTAMZNEarnings Watch: Wal-Mart sees Q1 EPS 95c-$1.10, U.S. SSS up 1%-2%
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11:47 EDTAMZNAmazon unlikely hurt by Google Buy button in next 3 years, says Piper Jaffray
Piper Jaffray analyst Gene Munster said he does not expect Google's (GOOG) addition of a "Buy" button for mobile e-commerce hurting Amazon.com (AMZN) over the next 1 to 3 years, but he does believe Google's plan presents a longer-term threat to "chip away" at Amazon's growth rate. However, Munster thinks it will be "next to impossible" for Google to replicate Amazon's core infrastructure and customer experience and he keeps an Overweight rating and $475 price target on Amazon shares.
09:46 EDTWFCMPLX enters common unit sales agreement for up to $500M
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