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Stock Market & Financial Investment News

News Breaks
July 11, 2014
12:36 EDTRCII, RAI, MTG, LO, JOEZ, AMZN, WFCOn 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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April 22, 2015
07:49 EDTAMZNAmazon.com April weekly volatility elevated into Q1 and outlook
Amazon.com April weekly call option implied volatility is at 137, May is at 48, June is at 34, July is at 32; compared to its 26-week average of 33 according to Track Data, suggesting larger near term price movement into the expected release of Q1 results on April 23.
April 21, 2015
12:46 EDTAMZNAmazon launches online travel market with Amazon Destinations, WSJ reports
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11:00 EDTAMZNStocks with call strike movement; AMZN AAPL
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10:14 EDTAMZNAmazon.com cut to Hold ahead of Q1 results at BGC Financial
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10:08 EDTAMZNAmazon.com downgraded to Hold from Buy at BGC Financial
10:01 EDTRCIIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Agios Pharmaceuticals (AGIO) initiated with a Perform at Oppenheimer... Bed Bath & Beyond (BBBY) initiated with a Buy at Cantor... BioCryst (BCRX) initiated with an Outperform at FBR... Bovie Medical (BVX) initiated with an Outperform at JMP Securities... Calavo Growers (CVGW) initiated with a Buy at Janney Capital... Clorox (CLX) initiated with a Sector Weight at KeyBanc... Coach (COH) initiated with a Sell, $32 target at Cantor... Compugen (CGEN) initiated with an Outperform at Oppenheimer... Corcept Therapeutics (CORT) initiated with an Outperform at FBR Capital... Criteo (CRTO) initiated with an Outperform at Raymond James... CytRx (CYTR) initiated with an Outperform at FBR Capital... Dollar Tree (DLTR) initiated with a Buy at Cantor... Facebook (FB) initiated with a Buy at Cleveland Research... Gap (GPS) initiated with a Hold at Cantor... Genocea (GNCA) initiated with an Outperform at FBR Capital... Geron (GERN) initiated with an Outperform at Oppenheimer... Home Depot (HD) initiated with a Hold at Cantor... HubSpot (HUBS) initiated with a Buy at Needham... Jernigan Capital (JCAP) initiated with a Buy at Wunderlich... La Jolla (LJPC) initiated with an Outperform, $43 target at Oppenheimer... Lowe's (LOW) initiated with a Hold at Cantor... Lumber Liquidators (LL) initiated with a Buy, $45 target at Cantor... New Residential (NRZ) reinstated with an Outperform at Credit Suisse... Rent-A-Center (RCII) initiated with a Buy at Cantor... Ross Stores (ROST) initiated with a Hold at Cantor... Rubicon Project (RUBI) initiated with an Outperform at Raymond James... SolarCity (SCTY) initiated with an Outperform at Northland... SolarEdge (SEDG) initiated with a Buy at Canaccord... Spectrum Brands (SPB) initiated with an Overweight at KeyBanc... Summit Materials (SUM) initiated with a Buy at BB&T... Synergy Resources (SYRG) initiated with a Buy at KLR Group... Synta Pharmaceuticals (SNTA) initiated with an Outperform at FBR Capital... TJX (TJX) initiated with a Hold at Cantor... Tiffany (TIF) initiated with a Hold at Cantor... TubeMogul (TUBE) initiated with a Market Perform at Raymond James... Urban Outfitters (URBN) initiated with a Buy at Cantor... WhiteWave Foods (WWAV) initiated with a Neutral at Janney Capital... Williams-Sonoma (WSM) initiated with a Hold at Cantor... Zafgen (ZFGN) initiated with an Outperform at FBR Capital.
09:37 EDTAMZNActive equity options trading on open
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09:22 EDTMTGOn The Fly: Pre-market Movers
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09:02 EDTWFCBlackstone, Wells Fargo in talks on more GE financial assets, Bloomberg says
General Electric (GE), which has announced plans to divest the majority of its GE Capital businesses, is in talks about the potential sale of its $74B U.S. commercial-lending unit, reported Bloomberg, echoing a similar report from The Wall Street Journal. Potential buyers include Blackstone (BX), Mitsubishi UFJ (MTU) Wells Fargo (WFC) and Apollo Global (APO), according to people with knowledge of the matter. Reference Link
07:04 EDTMTGMGIC Investment reports Q1 EPS 32c, consensus 21c
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April 20, 2015
16:16 EDTRCIIRent-A-Center initiated with a Buy at Cantor
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16:01 EDTAMZNOptions Update; April 20, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 21.52. Option volume leaders: AAPL VZ PBR TWTR TSLA TWTR NFLX MCP FB AMZN AA C according to Track Data.
15:37 EDTMTGNotable companies reporting before tomorrow's open
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15:16 EDTLO, RAIGreenlight starts new GM long position, rolls Lorillard short bet to Reynolds
David Einhorn's Greenlight Capital hedge fund said in its latest quarterly letter to investors that it had established new long positions in General Motors (GM), Chicago Bridge & Iron (CBI) and AerCap Holdings (AER) last quarter. WHAT'S NEW: Greenlight believes GM should benefit from low gas prices, low raw material costs, and its decision to launch share buybacks, Greenlight stated. GM has an excellent chance of beating 2015 EPS expectations, added the firm. Einhorn's group said they found the valuation of Chicago Bridge and Iron, an engineering and construction company with significant exposure to energy, attractive following the stock's decline. Although energy prices may stay low for some time, the company has a significant backlog that should support its earnings for several years, Greenlight stated. Additionally, the market is overestimating how much of the cost overruns for two nuclear energy projects with be shouldered by the company, Greenlight contended. AerCap, the largest publicly traded aircraft leasing company, bought AIG's (AIG) aircraft leasing business last year at a bargain price, Greenlight stated. The combined business will benefit from AerCap's low tax rate, as well as efficiencies, the hedge fund believes. WHAT'S NOTABLE: Greenlight exited its short position in Lorillard (LO). Greenlight noted that it has rolled its short bet on Lorillard into a fresh position in Reynolds American (RAI), since it still believes that the FDA is gearing up to do "something major" in terms of regulation of menthol cigarettes, but is moving "slowly and deliberately" because it anticipates an extremely aggressive industry response. The firm also exited two other short positions because the companies agreed to takeovers: Safeway (SWY) and Freescale Semiconductor (FSL), which has agreed to sell itself to NXP Semicondictors (NXPI).
14:16 EDTRAI, LOEinhorn lists AerCap, CBI, GM as new longs, Bloomberg reports
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12:34 EDTWFCGE in discussions to sell $74B U.S. commercial lending unit, WSJ says
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10:00 EDTMTGOn The Fly: Analyst Upgrade Summary
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07:48 EDTAMZNAmazon.com April weekly volatility elevated into Q1 and outlook
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07:25 EDTRAIReynolds American reported strong Q1 results, says Wells Fargo
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06:30 EDTMTGMGIC Investment upgraded to Neutral from Underperform at Credit Suisse
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