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News Breaks | | | | August 29, 2012 | | 12:12 EDT |  | WLP, JOY, CAT, VALE, RIO, YELP, JOSB, ARQL, DY | On The Fly: Midday Wrap
Stocks on Wall Street were virtually unchanged at midday despite data indicating U.S. economic growth was slightly better in the second quarter than initially estimated. Stock futures were quiet throughout the premarket trading session and have traded in a very narrow range for a third straight day even though today's economic calendar was a bit fuller than in the prior two sessions. Investors remain largely non-committal ahead of Fed Chairman Ben Bernanke's planned remarks at Jackson Hole, though the next potential market catalyst may be the Fed's Beige Book report, due out this afternoon... ECONOMIC EVENTS: In the U.S., the government's second estimate of Q2 GDP growth was revised up to 1.7% from 1.5%, as expected. Q2 personal consumption growth was revised upward to 1.7% from a prior 1.5% estimate, though forecasts had called for it be unchanged from the first reading. Crude oil inventories built by 3.78M last week, versus expectations for a 1.75M draw. Pending home sales grew 2.4% on a month-over-month basis in July, which was ahead of forecasts. Also of note, European Central Bank President Mario Draghi wrote in an opinion piece in a German newspaper that the ECB may need "exceptional measures" to fulfill its mission of ensuring price stability. The Group of Seven finance ministers, in a statement made last night, expressed concern about the impact of rising oil prices on the global economy... COMPANY NEWS: Shares of WellPoint (WLP) rose almost 8% as investors responded favorably to the decision of its CEO, Angela Braly, to submit to shareholder pressure and resign... Joy Global (JOY) and other companies in the mining sector pulled back as Joy reported weaker than expected Q3 results and significantly lowered its full-year EPS guidance. In midday trading, Joy recovered from its earlier lows to be down about 0.5%, while Caterpillar (CAT) lost 1.3%, Vale (VALE) slid 4.3% and Rio Tinto (RIO) slumped 2.7%... MAJOR MOVERS: Among the notable gainers was Yelp (YELP), up 24%, with traders attributing the rally to a short squeeze after a stock selling lockup period following its IPO expired. Also higher were shares of JoS. A Bank (JOSB), up over 16%, after its earnings and revenues beat consensus expectations. Among the noteworthy losers were ArQule (ARQL), down 21%, following its Q2 earnings report, and Dycom (DY), down 16%, after its Q4 results missed expectations... INDICES: Near noon, the Dow was up 5.33, or 0.04%, to 13,108.32; the S&P 500 was up 1.13, or 0.08%, to 1,410.43; and the Nasdaq was down 0.11 to 3,077.03, which was almost exactly where it started the day. | |
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News For WLP;JOY;CAT;VALE;RIO;YELP;JOSB;ARQL;DY From The Last 14 Days Check below for free stories on WLP;JOY;CAT;VALE;RIO;YELP;JOSB;ARQL;DY the last two weeks. |
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| May 17, 2013 | | 05:21 EDT |  | CAT | Caterpillar, Mining Machinery resolve all outstanding issues
 Subscribe for More Information | | | May 16, 2013 | | 19:01 EDT | | CAT | Caterpillar and Mining Machinery Limited announce settlement agreement
Subscribe for More Information | | | 10:03 EDT |  | YELP | On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Amazon.com (AMZN) initiated with a Buy at Lazard Capital... Apple (AAPL) initiated with a Neutral at Susquehanna... Churchill Downs (CHDN) initiated with a Buy at Brean Capital... Interpublic Group (IPG) initiated with an Overweight at Evercore... Monarch Casino (MCRI) initiated with a Buy at Brean Capital... Stillwater Mining (SWC) coverage resumed with an Outperform at Wells Fargo... Wabtec (WAB) initiated with an Overweight at Atlantic Equities... eBay (EBAY) initiated with a Buy at Lazard Capital... Dangdang (DANG) initiated with a Buy at BofA/Merrill... Coeur d’Alene Mines (CDE) coverage resumed with a Neutral at JPMorgan... ValueClick (VCLK) initiated with an Underperform at Northland Securities... Yelp (YELP) initiated with an Outperform at Cowen. | | | 07:05 EDT | | YELP | Yelp initiated with an Outperform at Cowen
| | | May 15, 2013 | | 17:30 EDT | | JOSB | Relational Investors gives quarterly update on stakes
Subscribe for More Information | | | 06:19 EDT |  | WLP | Three WellPoint directors resign, Bloomberg reports
Subscribe for More Information | | | May 14, 2013 | | 10:01 EDT |  | WLP | On The Fly: Analyst Upgrade Summary
Subscribe for More Information | | | 09:38 EDT |  | RIO | Rio Tinto downgraded to Equal Weight from Overweight at Barclays
Subscribe for More Information | | | 07:29 EDT |  | VALE, RIO | BofA/Merrill to host a conference
Subscribe for More Information | | | 05:43 EDT | | WLP | Wellpoint upgraded to Buy from Hold at Jefferies
Subscribe for More Information | | | | May 13, 2013 | | 17:51 EDT |  | WLP | Wellpoint reaffirms FY13 EPS view of 'at least' $7.75, consensus $7.99
Subscribe for More Information | | | 16:25 EDT | | JOSB | On The Fly: Closing Wrap
Stocks on Wall Street were little changed from their opening levels as investors weighed the potential end of the Fed's quantitative easing program against a better than expected report on retail sales. The Wall Street Journal's Jon Hilsenrath suggested in a report over the weekend that the Federal Reserve has mapped a QE exit strategy. The report paired with the retail sales data left the market lacking conviction in either direction today, as the averages spent the majority of the session range-bound near the flatline. ECONOMIC EVENTS: In the U.S., retail sales rose 0.1% in April, which beat expectations for a 0.3% decline. Retail sales excluding autos, gas, and building materials rose 0.6%, which was also better than expected. Business inventories were flat in March, versus expectations for a 0.3% gain. In Asia, Chinese factory output grew 9.3% annually in April, which was up from 8.9% in March but still missed expectations for a 9.5% growth rate. COMPANY NEWS: The Supreme Court ruled unanimously that Monsanto's (MON) patented genetically altered soybeans are protected and that farmers cannot use them to create new seeds without paying the company... Dell's (DELL) special committee publicly asked for more information from Carl Icahn and Southeastern Asset Management about their proposed leveraged recapitalization. This request follows television interviews by Icahn last Friday in which he discussed his Dell proposal, as well as a weekend report in Barron's saying the Icahn and Southeastern plan could be a better deal for shareholders. MAJOR MOVERS: Among the notable gainers was Theravance (THRX), up $6.26, or 17.92%, to $41.20 after Elan Corporation (ELN) bought a stake in the potential future royalty payments from four respiratory programs partnered with GlaxoSmithKline (GSK) in exchange for $1B in cash. Also higher was Tesla (TSLA), which rose $11.04, or 14.38%, to $87.80 in its third straight double-digit percentage gain following a better-than-expected earnings report last week. Among the noteworthy losers was Barnes & Noble (BKS), down $2.21, or 9.48%, to $21.10 after the blog InsiderMonkey disputed a previous report about Microsoft's (MSFT) interest in the bookseller's NOOK assets. Also lower was JoS. A. Bank (JOSB), down $3.31, or 7.16%, to $42.90 after the company's first quarter earnings view came in below expectations. INDICES: The Dow was down 26.81, or 0.18%, to 15,091.68; the Nasdaq was up 2.21, or 0.06%, to 3,438.79; and the S&P 500 was nearly unchanged at 1,633.77. | | | 12:20 EDT | | JOSB | On The Fly: Midday Wrap
Subscribe for More Information | | | 10:00 EDT |  | JOSB | JoS. A. Bank falls 7.4%
Subscribe for More Information | | | 09:03 EDT | | YELP | Yelp falls 2.9%
Yelp is down 2.9%, or 91c, to $30.02 | | | 06:04 EDT | | JOSB | JoS. A. Bank sees Q1 EPS 27c-30c, consensus 46c
Subscribe for More Information | | | May 10, 2013 | | 06:30 EDT | | CAT | Caterpillar, Milwaukee workers' union talks suspended, Reuters says
Subscribe for More Information | | | 05:53 EDT | | RIO | Carlyle Group bids on stake Rio Tinto Australian copper mine, Reuters reports
The Carlyle Group (CG) submitted a bid for Rio Tinto's (RIO) 80% stake in the Northparkes copper mine in Australia, sources say, reports Reuters. Analysts have suggested Rio Tinto could receive up to $1B for the mine. Reference Link | | | May 9, 2013 | | 10:36 EDT |  | WLP | Wellpoint volatility at low end of historic range
Subscribe for More Information | | | 07:57 EDT | | RIO | Rio Tinto CEO defends iron ore expansion criticized by holders, FT says
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