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Stock Market & Financial Investment News

News Breaks
August 29, 2012
16:27 EDTJOSB, WLP, ARQL, YELP, DY, COn The Fly: Closing Wrap
Stocks on Wall Street were slightly higher as the Fed's Beige Book and reports on second quarter economic growth and July pending home sales were all encouraging. Stock futures were generally quiet in premarket trading but rose a bit after the GDP revision, leading to a slightly higher open for the broader market. The averages moved in a very narrow range for much of the day before solidifying in positive territory after the Beige Book said that moderate expansion in the economy had continued since the last report. A late day fade dented the gains, but the averages hung on to post modest increases... ECONOMIC EVENTS: The Federal Reserve's Beige Book, its anecdotal account of the state of the economy, stated that economic activity in nine of the Fed's 12 districts rebounded. The U.S.'s second estimate of Q2 GDP growth was revised up to 1.7% from 1.5%, as expected, and Q2 personal consumption growth was revised upward to 1.7% from a prior 1.5% estimate as well. Pending home sales grew 2.4% on a month-over-month basis in July, which was ahead of forecasts... COMPANY NEWS: WellPoint (WLP) rose $4.41, or 7.68%, to $61.80 as investors responded favorably to the decision of its CEO, Angela Braly, to submit to shareholder pressure and resign... Citigroup (C) agreed to pay $590M to settle a shareholder lawsuit that claimed it misled investors about the bank's growing problems before the financial crisis... MAJOR MOVERS: Among the notable gainers were Yelp (YELP), up $4.11, or 22.51%, to $22.37, with the move attributed to a short squeeze after an IPO lockup period expired, and JoS. A Bank (JOSB), up $5.81, or 13.96%, to $47.44, after its earnings and revenues beat expectations. Noteworthy losers included Dycom (DY), down $3.60, or 19.07%, to $15.28, and ArQule (ARQL), down $1.24, or 18.51%, to $5.46, following their earnings reports... INDICES: The Dow gained 4.49, or 0.03%, to 13,107.48; the Nasdaq rose 4.05, or 0.13%, to 3,081.19; and the S&P 500 advanced 1.19, or 0.08%, to 1,410.49.
News For WLP;C;YELP;JOSB;DY;ARQL From The Last 14 Days
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July 28, 2015
17:40 EDTYELPYelp Chairman Max Levchin to step down from board
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17:00 EDTYELPYelp down over 17% after reporting Q2 results, guidance
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16:59 EDTYELPYelp lowers FY15 revenue view to $544M-$550M from $574M-$579M
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16:10 EDTYELPYelp sees FY15 revenue $544M-$550M, consensus $571.16M
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16:09 EDTYELPYelp tumbles after earnings
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16:08 EDTYELPYelp sees Q3 revenue $139M-$142M, consensus $152.66M
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16:07 EDTYELPYelp reports Q2 EPS (2c), consensus 1c
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15:21 EDTYELPNotable companies reporting after market close
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12:22 EDTYELPYelp July weekly 33 straddle priced for 14% movement into Q2
10:00 EDTYELPOn The Fly: Analyst Downgrade Summary
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09:32 EDTCCaterpillar announces $1.5B accelerated stock repurchase
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09:18 EDTYELPOn The Fly: Pre-market Movers
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07:54 EDTYELPYelp volatility elevated into Q2 and outlook
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06:18 EDTYELPYelp downgraded to Hold from Buy at Deutsche Bank
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July 27, 2015
15:35 EDTYELPGrubHub plummets as analyst sees first-mover advantage 'eroding'
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July 24, 2015
10:46 EDTCCiti's Mexico unit facing expanding money laundering probe, Bloomberg says
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07:10 EDTYELPYelp July weekly volatility elevated into Q2 and outlook
Yelp July weekly call option implied volatility is at 116, August is at 70, September is at 56; compared to its 52-week range of 39 to 81, suggesting large near term price movement into the expected release of Q2 results on July 28.
July 22, 2015
16:26 EDTCCiti releases results of 2015 Dodd-Frank Stress Test
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12:58 EDTCCiti says to wind down banking operations at Banamex USA
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12:53 EDTCFDIC announces $140M civil penalty against Citi's Banamex USA unit
The FDIC announced the assessment of a civil money penalty of $140M against Banamex USA, Century City, California, for violations of the Bank Secrecy Act and anti-money laundering laws and regulations. In a concurrent action, the California Department of Business Oversight assessed a civil money penalty of $40M. The FDIC's penalty of $140M will be satisfied in part by the CDBO's penalty. The FDIC's penalty will be paid to the United States Department of the Treasury. In taking this action, the FDIC determined that the bank failed to implement an effective BSA/AML Compliance Program over an extended period of time. The institution failed to retain a qualified and knowledgeable BSA officer and sufficient staff, maintain adequate internal controls reasonably designed to detect and report illicit financial transactions and other suspicious activities, provide sufficient BSA training, and conduct effective independent testing.
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