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Stock Market & Financial Investment News

News Breaks
July 29, 2014
17:06 EDTWIN, GLW, UPS, T, PGTI, CTL, FTR, CLF, VZOn The Fly: Closing Wrap
Stocks on Wall Street were lower amid new sanctions from both the U.S. and Europe against Russia. The sanctions news that came out throughout the session overshadowed a better than expected consumer confidence reading and another round of earnings reports. ECONOMIC EVENTS: In the U.S., the S&P Case Shiller home price index rose 9.34% from the prior year in May to 170.64, which was a bit below the expectation for a 9.9% year-over-year increase. The Conference Board's consumer confidence reading climbed to 90.9 in July from an upwardly revised 86.4 June figure, beating expectations for a 85.4 reading and reaching its highest level since October 2007. Also, the U.S. and European Union both announced new sanctions against Russia, including some against some of the nation's largest banks. COMPANY NEWS: Shares of Windstream (WIN) rose $1.30, or 12.35%, to $11.83 after the company announced that it would spin off some of its assets into a real estate investment trust, or REIT. The implications of the ruling Windstream received from the IRS and the company's plan reverberated throughout the telecommunications sector, as illustrated by Frontier Communications' (FTR) shares also gaining 85c, or 14.31%, to $6.79. However, UBS analyst Scott Arwin said he does not expect large telecom companies like Verizon (VZ) and AT&T (T) to follow Windstream's lead, as he does not think the larger companies will want to open their networks to competitors at regulated rates. Raymond James similarly said it believes Verizon has looked at potential REIT transactions in the past, and that itís doubtful the company would be comfortable not owning its assets and that AT&T and CenturyLink (CTL) may be in similar positions. MAJOR MOVERS: Among the notable gainers was PGT Inc. (PGTI), which gained $2.02, or 27.33%, to $9.41 after reporting better than expected quarterly results and agreeing to buy CGI Windows & Doors for about $111M. Also higher was Cliffs Natural Resources (CLF), which rose $1.03, or 6.21%, to $17.62 after activist shareholder Casablanca Capital announced that all six of its nominees have been elected to Cliffs' board of directors according to preliminary estimates. Among the noteworthy losers was UPS (UPS), which fell $3.80, or 3.7%, to $98.86 after reporting Q2 adjusted earnings per share that missed expectations and lowering its fiscal year earnings outlook, citing its plans to increase operating expenses for capacity and peak season related projects. Also lower were shares of Corning (GLW), which fell $2.05, or 9.3%, to $20.00 after reporting on its Q2 results and guiding its Q3 LCD glass volume to be up by a mid-single digit percentage sequentially. INDEXES: The Dow fell 70.48, or 0.42%, to 16,912.11, the Nasdaq dropped 2.21, or 0.05%, to 4,442.70, and the S&P 500 declined 8.96, or 0.45%, to 1,969.95.
News For WIN;FTR;T;VZ;CTL;UPS;CLF;PGTI;GLW From The Last 14 Days
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August 26, 2015
06:02 EDTVZVerizon to announce Hum to connect older cars, The Verge reports
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August 25, 2015
06:25 EDTTAT&T to rebrand services in Mexico, WSJ reports
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05:59 EDTVZStocks with implied volatility movement; WMB VZ
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August 24, 2015
16:00 EDTTOptions Update; August 24, 2015
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August 23, 2015
19:13 EDTVZ, TBT executive says Verizon, AT&T abusing landline duopoly, FT reports
In a Financial Times interview published Sunday, BT Group's (BT) Americas president Bas Burger said Verizon (VZ) and AT&T (T) are abusing their control over telephone and broadband lines to charge inappropriate access fees to companies like BT. "For a western world country it is the worst I've seen... There is not sufficient regulation to create competition: almost all access is being provided by two companies and they have divided the country among themselves," remarked Burger, adding that the two companies are also not required to fix network problems within any specific timeframe. Reference Link
August 21, 2015
10:02 EDTCLFOn The Fly: Analyst Initiation Summary
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08:22 EDTCLFCliffs Natural initiated with a Sell at Axiom
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August 20, 2015
17:52 EDTUPSUPS pilots President issues statement on FedEx/ALPA tentative agreement
The following statement is from Captain Robert Travis, President of the Independent Pilots Association regarding the tentative pilot labor agreement between FedEx (FDX) and ALPA: "We congratulate our pilot peers and FedEx on reaching a new tentative collective bargaining agreement. While we have not seen the details, the IPA will refrain from commenting on the merits of the tentative agreement until the ALPA ratification process has been completed. If approved, however, the FedEx pilot contract will bring labor peace to our largest competitor. In sharp contrast, UPS (UPS) management has created a bitter standoff with its pilot employees, unnecessarily dragging out contract talks for four years. UPS must not allow itself to be left behind by FedEx. The IPA calls on UPS management to work with its pilots to expeditiously achieve an agreement."
16:48 EDTWINOn The Fly: Top stock stories for Thursday
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15:56 EDTWINWindstream said to hire RBC to explore sale of data storage business
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14:05 EDTWINWindstream said to hire RBC to explore sale of data storage business
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08:18 EDTUPSUPS management to meet with UBS
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08:02 EDTT, FTR, VZFCC to hold a conference and workshop
2015 Supplier Diversity Conference & Workshop is being held at FCC Washington, D.C. offices on August 20 at 9:30 am. Webcast Link
August 19, 2015
10:20 EDTT, VZBig telecom firms put M&A on hold, CTFN reports
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10:00 EDTFTROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Biocept (BIOC) initiated with a Buy at H.C. Wainwright... C.H. Robinson (CHRW) initiated with a Buy at Evercore ISI... Chipotle (CMG) initiated with a Hold at Maxim... Con-way (CNW) initiated with a Buy at Evercore ISI... Dermira (DERM) initiated with an Outperform at Cowen... Expeditors (EXPD) initiated with a Hold at Evercore ISI... Fleetmatics (FLTX) initiated with an In-Line at Imperial Capital... Frontier Communications (FTR) initiated with an Overweight at Stephens... Gevo (GEVO) initiated with a Buy at Rodman & Renshaw... International Game (IGT) initiated with a Sell at Goldman... Knight Transportation (KNX) initiated with a Buy at Evercore ISI... Logitech (LOGI) initiated with a Buy at Rosenblatt... Navistar (NAV) initiated with a Neutral at Macquarie... Panera Bread (PNRA) initiated with a Hold at Maxim... Scientific Games (SGMS) initiated with a Sell at Goldman... Swift Transport (SWFT) initiated with a Hold at Evercore ISI... Tribune Media (TRCO) initiated with an Equal Weight at Morgan Stanley... WEX Inc. (WEX) initiated with an Equal Weight at Barclays... Zoe's Kitchen (ZOES) initiated with a Buy at Maxim.
08:56 EDTFTRFrontier Communications initiated with an Overweight at Stephens
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08:22 EDTT, VZSprint traffic levels increasing, says Pacific Crest
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August 18, 2015
14:01 EDTUPSUPS completes Coyote Logistics acquisition
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11:34 EDTT, VZSprint rises on plans to abandon two-year contracts
Sprint shares are higher this morning after the company's chief executive officer said that the carrier plans to move away from two-year contracts. WHAT'S NEW: In an interview with The Wall Street Journal, Sprint CEO Marcelo Claure said that the company will stop offering two-year contracts by the end of 2015 in favor of a "smartphone lease" model. Sprint began offering a lease option last year, The Journal noted, and Claure said the carrier is planning to move entirely to that model by the end of the year. As part of its shift, Sprint yesterday unveiled iPhone Forever, a new leasing plan that starts at $22 per month for an iPhone. WHAT'S NOTABLE: In a similar move earlier this month, Sprint rival Verizon (VZ) said it would drop phone subsidies and two-year contracts for new customers. T-Mobile (TMUS), another market rival, abandoned contracts over two years ago, leaving AT&T (T) as the only major U.S. carrier still offering to subsidize new smartphone purchases. Separately, Softbank (SFTBF), Sprint's primary stakeholder, disclosed last week that it increased its holdings in the company to approximately 80%, though the company said it does not plan for its stake in the carrier to exceed 85%. Meanwhile, a study released Tuesday by RootMetrics, an independent company that evaluates wireless networks, shows that Sprint is improving its network, having solidified third place nationally in overall performance, surpassing T-Mobile for the second consecutive six-month stretch. PRICE ACTION: Sprint is up 7c, or 1.52%, to $4.67 in morning trading.
06:39 EDTUPSUSPS boosts same-day delivery to compete with FedEx, UPS, Amazon, WSJ says
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