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Stock Market & Financial Investment News

News Breaks
July 11, 2014
12:36 EDTWFC, LO, RAI, AMZN, MTG, RCII, JOEZOn 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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October 14, 2014
08:35 EDTAMZNAmazon set to open first retail store in San Francisco, GeekWire reports
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08:16 EDTWFCWells Fargo reports book value per share $31.55 at quarter end
Reports Q3 net interest margin 3.06%, down from 3.15% at June 30 and down from 3.39% in prior year period.
08:14 EDTWFCWells Fargo reports Q3 Home Lending orignations $48B
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08:09 EDTWFCWells Fargo continues to see signs of steadily improving economy
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08:08 EDTWFCWells Fargo reports $300M reserve release due to improved credit quality
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08:03 EDTWFCWells Fargo reports Q3 EPS $1.02, consensus $1.02
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06:23 EDTAMZNAmazon.in, Future Group enter into a strategic partnership
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06:19 EDTAMZNGoogle expands Express delivery service, to charge membership fee
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October 13, 2014
16:02 EDTAMZNOptions Update; October 13, 2014
iPath S&P 500 VIX Short-Term Futures up 3.71 to 39.56. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX SUNE GILD BAC PBR according to Track Data.
15:24 EDTWFCNotable companies reporting before tomorrow's open
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13:40 EDTWFCWells Fargo October volatility increases into Q3 and guidance
Wells Fargo October call option implied volatility is at 31, November is at 20, January is at 19; compared to its 26-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 14.
13:10 EDTAMZNGoogle's Schmidt says Amazon is company's biggest search rival, FT reports
Eric Schmidt, the executive chairman of Google (GOOG), says Amazon (AMZN) is his company's biggest rival in search, not Bing (MSFT) or Yahoo (YHOO), the Financial Times reports. Schmidt also argued in Berlin that Google should not be regulated "as if it were the gatekeeper of the internet," given the influence of Amazon and Facebook (FB). Reference Link
11:24 EDTAMZNAmazon to create 1,000 new permanent jobs at UK fulfillment centers
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09:03 EDTAMZNAmazon says Prime members to get early access to select Lightning Deals
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08:31 EDTAMZNAmazon, Future Group in online sales pact, Economic Times reports
India's largest listed retailer, Future Group, has signed a deal to jointly sell items over the Internet with Amazon, reported Economic Times, which noted that Future will begin by selling apparel and then expand to in-house brands in the home, electronics and food categories. Reference Link
07:19 EDTWFCAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
06:44 EDTWFCRegulators seeking banks' auto loan data, Reuters reports
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00:04 EDTWFCBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
17:20 EDTAMZNGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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13:03 EDTWFCBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
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