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Stock Market & Financial Investment News

News Breaks
June 30, 2014
09:18 EDTRMD, DRNA, GWPH, MBI, THS, MNKD, BK, YHOO, PPG, APPOn The Fly: Pre-market Movers
HIGHER: MannKind (MNKD), up 9.8% after company confirms FDA approval of Afrezza inhalation powder to improve glycemic control in adult patients with diabetes... Yahoo (YHOO), up 1.6% after being upgraded to Overweight at Piper Jaffray... BNY Mellon (BK), up 3.5% after Activist investor Trian Partners discloses 9.33M share stake... Dicerna Pharmaceuticals (DRNA), up 8.3% after announcing preclinical data demonstrating the promise of DCR-PH1... TreeHouse Foods (THS), up 5% after agreeing to acquire Flagstone Foods for $860M... PPG Industries (PPG), up 5.6% after agreeing to acquire privately-held Consorcio Comex, an architectural and industrial coatings company in Mexico, in transaction is valued at $2.3B... GW Pharmaceuticals (GWPH), up 4.8% after Piper Jaffray raises price target on its stock to $147 from $97. LOWER: American Apparel (APP), down 11% after adopting stockholder rights plan, rejecting Dov Charney request for special meeting... MBIA (MBI), down 4.3% after stock was downgraded to Neutral at BTIG... ResMed (RMD), down 3.8% following cautious mention of the stock in this weekend's Barron's magazine.
News For YHOO;MBI;RMD;BK;GWPH;APP;MNKD;DRNA;PPG;THS From The Last 14 Days
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March 26, 2015
11:30 EDTYHOOStocks with call strike movement; HAL YHOO
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08:30 EDTGWPHGW Pharmaceuticals risk/reward favorable into data, says Leerink
Leerink says the risk/reward on shares of GW Pharmaceuticals is favorable into the Epidiolex update at AAN on April 22 despite the 34% rally since the last update in October. The firm notes its price target of $102 assumes a 66% probability-of-success for Epidiolex in Dravet/Lennox Gastaut. Changing the probabilities to 100% yields a target of $182, Leerink notes. It reiterates an Outperform rating on GW.
06:41 EDTYHOOTwitter to outpace Yahoo in display ad revenue, WSJ says
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06:07 EDTAPPAmerican Apparel says SEC issued formal order of investigation in February
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March 25, 2015
17:18 EDTAPPAmerican Apparel Reports Q4 EPS (16c), one estimate (2c)
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07:35 EDTBKCFA Society of Minnesota to hold a luncheon meeting
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March 24, 2015
11:40 EDTTHSMcCormick hits 52-week high after Q1 results top expectations
Shares of spices, seasonings and condiments maker McCormick & Company (MKC) are advancing after the company's first quarter results surpassed analysts' consensus estimates. WHAT'S NEW: This morning, McCormick reported Q1 adjusted earnings per share of 70c excluding a 15c impact of special charges on revenue of $1.01B, topping analysts' consensus estimates of 64c and $985.12M, respectively. McCormick's Q1 sales rose 2% from the year-ago period and in constant currency, the increase was 6%. Consumer business sales rose 5% in constant currency in Q1 due to increased volume and product mix driven by product innovation, brand marketing support and expanded distribution. Industrial business sales grew 7% in constant currency, with higher volume and product mix, as well as pricing actions. WHAT’S NOTABLE: Looking ahead, the company forecast fiscal year 2015 adjusted EPS of EPS $3.44-$3.51, below its prior view of $3.51-$3.58 given in January and analysts' estimates for FY15 of $3.53. The company continues to expect 4%-6% sales growth in constant currency for FY15. Based on year-to-date results and prevailing exchange rates, currency is now expected to lower this sales growth range by 5 percentage points, which is more than the previous projection of 3 percentage points. In constant currency, adjusted operating income is expected to grow 6%-7% from adjusted operating income of $608M in 2014. McCormick also raised its anticipated special charges for the year to $30M from $20M due to a higher response rate to its voluntary retirement program and additional actions in EMEA. McCormick is also targeting cost reductions of at least $85M in FY15, which are expected to help offset higher material costs. The company sees its Comprehensive Continuous Improvement program delivering at least $65M in 2015, and sees savings from reorganization actions of $20M. Chairman and Chief Executive Officer Alan Wilson commented that Q1 operating income was unfavorably impacted by several factors including special charges, unfavorable currency rates and higher material costs. Wilson said the company anticipates that these headwinds will continue in 2015, but expect the benefit of pricing actions and cost reduction efforts to build in the upcoming quarters. PRICE ACTION: In late morning trading, McCormick rose $2.90 or 3.96% to $76.10 on more than twice its average daily trading volume. The stock hit a fresh 52-week high of $77.79 earlier in the session. Including today's advance, the shares have gained nearly 13% over the past 12 months. OTHERS TO WATCH: Other companies in the food space include TreeHouse Foods (THS), down 0.8%, B&G Foods (BGS), up 1.2%, and Pinnacle Foods (PF), up 0.1%.
05:46 EDTMNKDStocks with implied volatility movement; AMZN MNKD
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March 23, 2015
08:29 EDTYHOOYahoo's Tumblr to contribute revenues in 2015, says BofA/Merrill
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07:53 EDTYHOOYahoo volatility at low end historic range
Yahoo March weekly call option implied volatility is at 27, April is at 24, May and July is at 27; compared to its 26-week average of 35 according to Track Data, suggesting decreasing price movement.
07:44 EDTYHOOYahoo price target lowered to $61 from $66 at BofA/Merrill
BofA/Merrill lowered Buy rated Yahoo's (YHOO) price target to $61 to reflect a lower valuation for the Alibaba (BABA) stake.
March 20, 2015
16:00 EDTMNKDOptions Update; March 20, 2015
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March 19, 2015
16:02 EDTBKBNY Mellon settles FX-related actions
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11:32 EDTBKBNY Mellon set to pay $700M to settle forex allegations, WSJ says
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11:16 EDTBKBNY Mellon close to deal to resolve forex litigation for $700M, Reuters reports
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09:04 EDTPPGPPG Industries completes $40M expansion at Brazil facility
PPG Industries held a ceremony to mark the completion of a $40M, 65,000-square-foot plant for on-site resin production at its Sumaré, São Paulo, Brazil, coatings manufacturing facility. Resin produced at the facility will be used to manufacture PPG’s electrocoat products to meet demand from automotive original equipment manufacturers and industrial coatings customers in the region.
March 18, 2015
17:50 EDTYHOOYahoo exits China operations, WSJ says
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17:01 EDTTHSTreeHouse names Christopher Sliva as COO
TreeHouse Foods announced that Christopher Sliva, Executive Vice President of TreeHouse Foods and President of Bay Valley Foods, has been promoted to the position of Executive Vice President and COO of TreeHouse Foods.
10:06 EDTYHOOYahoo to close Beijing R&D office, SCMP says
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09:32 EDTMNKDMannKind faces cash shortfall if $100M debt not settled, TheStreet says
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