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Stock Market & Financial Investment News

News Breaks
March 28, 2012
12:12 EDTTYC, AMLN, RDS.A, ALIM, PNR, BNNY, XOM, SNX, BMY, CVXOn The Fly: Mid-Day Wrap
Stocks on Wall Street are lower at mid-day, after a report on durable goods orders in February fell short of expectations. After a meandering start to the session the averages have found their direction and it is lower. Each of the major equity indices is firmly in negative territory and at session lows. The market began the session mixed and seemed unaffected by the generally in-line durable goods orders report. The market also ignored the weekly DOE energy inventory reports until the averages broke out of their tight range and moved to the downside, gaining negative momentum as the day progresses... ECONOMIC EVENTS: In the U.S., durable goods orders for February rose 2.2%, versus expectations for a 3.0% increase. The core reading, which excludes transportation items, increased 1.6%, versus the expected increase of 1.7%... MARKET NEWS: Exxon Mobil (XOM), Shell (RDS.A), BP (BP), and Chevron (CVX) all declined as oil prices dropped following statements from France's energy minister about a possible joint oil reserve release coordinated between France, the U.S. and the U.K... Organic pasta maker Annie's (BNNY) soared after the company's initial public offering, which priced above its expected range at $19. The stock is up almost 72% to $32.63 near noon... MAJOR MOVERS: Among the notable gainers were Amylin (AMLN), after Bloomberg reported that the company rejected a $22 per share takeover offer from Bristol-Myers (BMY) earlier this year, and Pentair (PNR), after the company agreed to merge with Tyco's (TYC) Flow Control business to create a combined company that sees pro forma 2012 revenues of $7.7B. Noteworthy losers included SYNNEX (SNX), following a downgrade at Citigroup on the company's disappointing guidance for Q2, and Alimera (ALIM), after the company said last night that based on recent discussions with European regulatory authorities it thinks it will take longer than originally anticipated to obtain marketing authorizations for it ILUVIEN drug... INDICES: Near noon, the Dow was down 83.97, or 0.64%, to 13,113.76; the Nasdaq was down 24.20, or 0.78%, to 3,096.15; and the S&P 500 was down 11.26, or 0.80%, to 1,401.26.
News For A;CVX;BNNY;AMLN;BMY;PNR;TYC;SNX;ALIM From The Last 14 Days
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January 23, 2015
06:40 EDTCVXChevron downgraded to Neutral from Outperform at Credit Suisse
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06:34 EDTCVXAnalysts: King's death unlikely to change Saudi oil strategy, NY Times says
The death of Saudi Arabia's King Abdullah earlier today probably will not result in a change in the country's strategy as far as oil production is concerned, analysts said, according to The New York Times. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
January 22, 2015
10:03 EDTPNR, TYCOn the Fly: Analyst Initiation Summary
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10:03 EDTPNROn the Fly: Analyst Downgrade Summary
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08:49 EDTBMYBristol-Myers price target raised to $70 from $63 at SunTrust
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06:33 EDTPNRPentair downgraded to Neutral from Outperform at RW Baird
January 21, 2015
17:15 EDTTYCTyco initiated with a Sell at UBS
UBS initiated Tyco with a Sell rating and $40 price target, as the firm believes any upside in the stock is already factored into the company's guidance.
16:12 EDTPNRPentair initiated with a Neutral at UBS
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13:43 EDTCVXOPEC El-Badri says oil will bounce back, not drop to $20, Bloomberg reports
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10:16 EDTBMYLeerink biopharma analysts hold an analyst/industry conference call
Analyst Fernandez, along with Dr. Paul Gurbel and Dr. Richard Becker, discuss AstraZeneca's PEGASUS trial and the current use of Brilinta and dual antiplatelet therapy for prevention of CV disease and implications of the recently completed DAPT trial on an Analyst/Industry conference call to be held on January 21 at 1:30 pm.
10:01 EDTCVXOn The Fly: Analyst Downgrade Summary
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08:01 EDTSNXSYNNEX, Nexenta sign exclusive distribution agreement
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07:37 EDTCVXWells upgrades Exxon Mobil, downgrades Chevron
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06:32 EDTCVXChevron downgraded to Market Perform from Outperform at Wells Fargo
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January 20, 2015
18:02 EDTCVXChevron Australian subsidiary signs SPA with SK LNG Trading
Chevron announced its Australian subsidiaries have signed a binding Sales and Purchase Agreement, or SPA, with SK LNG Trading Pte. Under the SPA, SK LNG Trading, which is part of a leading industrial conglomerate in South Korea, will receive 4.15M tons of LNG over a five-year period starting in 2017. During the time of this agreement, over 75% of Chevron’s equity LNG from Gorgon will be committed to customers in Asia.
16:34 EDTBMYBristol-Myers appoints Giovanni Caforio CEO
Bristol-Myers Squibb announced a number of leadership changes approved by its board of directors and effective at the close of the annual Shareholders’ Meeting on May. Giovanni Caforio, M.D. will become CEO of the company. Lamberto Andreotti will become executive chairman of the board of directors on May 5 and will continue to serve as chairman after his retirement on August 3. James M. Cornelius, 71, has chosen not to stand for re-election as non-executive chairman and will retire from the board. Togo D. West, Jr., 72, will become the lead independent director on the company’s board.
January 19, 2015
06:47 EDTCVXJPMorgan says oil may drop below $40/barrel in near-term
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January 18, 2015
14:22 EDTCVXSchlumberger boss says oil price to challenge land producers, WSJ says
Paal Kibsgaard, CEO of Schlumberger, said U.S. energy producers are not done with work force reductions and that because of high costs, producers that focus on shale fields are worse off than rivals, says the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A), Total (TOT), Schlumberger (SLB) and Baker Hughes (BHI). Reference Link
January 16, 2015
10:24 EDTCVXOptions point to oil falling to near $30 per barrel, Merrill Lynch says
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06:49 EDTCVXOil prices climb after IEA says production falling, Reuters reports
Oil prices rebounded today after the International Energy Agency, or IEA, said it saw signs that oil production was falling in some areas, including North America, according to Reuters. "A price recovery...may not be imminent, but signs are mounting that the tide will turn," Reuters quoted the IEA as saying. Oil prices could rebound in the second half of the year, the IEA indicated, the news service reported. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
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