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Stock Market & Financial Investment News

News Breaks
March 17, 2014
12:22 EDTYHOO, SINA, GM, VRSN, SGK, MATW, LMIA, KNDIOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher in the first day of the new trading week amid better than expected industrial production data at home and relief that there was no violence despite Crimeans voting in favor of leaving Ukraine. The vote was declared invalid by the international community and has led to no military action, at least as of yet. The Federal Reserve kicks off a two-day policy meeting this week, capped by Janet Yellen’s first press conference as head of the central bank on Wednesday. ECONOMIC EVENTS: In the U.S., the New York Fed Empire state manufacturing survey reading of 5.61 came in below the consensus estimate of 6.5. However, the index rose from last month’s reading of 4.48. Industrial production rose 0.6% in February, beating expectations for a month-over-month increase of 0.2%. Capacity utilization in February came in at seen 78.8%, which was above the 78.6% forecast. The NAHB housing market index for March came in at 47, which was up 1 point from the prior reading but below the expected reading of 50. In Europe, an overwhelming majority of people in Ukraine's Crimea region voted to join Russia, although that result was widely anticipated. COMPANY NEWS: Shares of Yahoo! (YHOO) advanced nearly 4% after Alibaba Group confirmed it has decided to commence the process of an initial public offering in the United States. Note that Yahoo currently owns about a 24% stake in Alibaba, which is China’s largest e-commerce company. Shares of another Chinese Internet name, SINA (SINA), rose 7% after the company's majority-owned subsidiary Weibo, which operates a social media platform in China, filed a preliminary prospectus on Friday for its own initial public offering in the U.S. Weibo is seeking to raise up to $500M via the stock offering... Shares of General Motors (GM) came off their earlier highs and fell into negative ground just before noon after the company announced three new recalls involving U.S. production and sales of approximately 1.55M vehicles. GM is at the center of a great deal of press scrutiny and an increasing number of government investigations into its handling of an ignition flaw linked to 13 deaths. GM said it expects to take a charge of approximately $300M in the first quarter primarily for the cost of the repairs for the three safety actions announced today and the previously announced ignition switch recall. GM's stock came off its lows to be fractionally higher at midday following the news. MAJOR MOVERS: Among the notable gainers was Schawk (SGK), which jumped 36% after the company agreed to be acquired by Matthews International (MATW) for the equivalent of $20 per share in cash and stock. Shares of Matthews also rose over 2.5% after announcing the deal. Also higher was Chinese electric vehicle maker Kandi Technologies (KNDI), which rose 24% after the company reported its results for the fourth quarter. Among the noteworthy losers was VeriSign (VRSN), which fell more than 7% after a government regulatory body said it plans to transition the role it plays in the coordination of the Internet’s domain name system. Also lower were shares of LMI Aerospace (LMIA), which dropped 12% after the company's quarterly revenue missed expectations and it withdrew its previously issued 2014 guidance in order to provide time for its new CEO to conduct "a thorough review of the company's forecast and operations." INDEXES: Near midday, the Dow was up 168.29, or 1.05%, to 16,233.96, the Nasdaq was up 40.46, or 0.95%, to 4,285.86, and the S&P 500 was up 16.50, or 0.9%, to 1,857.63.
News For YHOO;SINA;GM;VRSN;SGK;MATW;LMIA;KNDI From The Last 14 Days
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October 21, 2014
13:05 EDTYHOOYahoo technical notes before earnings
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12:50 EDTYHOOGoing private among potential scenarios seen for Yahoo, Re/Code's Swisher says
Sources close to Yahoo CEO Marissa Mayer said she is determined to continue to push through her vision of the company's core business as a video-heavy, mobile-focused content company, according to Re/Code's Kara Swisher, who added that the "most intriguing possibility of all" that she has heard over the last weeks is that Yahoo could seek to dispose of its Asian assets, return a large amount of the proceeds to shareholders and work with a large private equity firm to take the company private. Shares of Yahoo, which reports on its quarterly results after the closing bell, is up 1.8% to $40 per share in afternoon trading. Reference Link
12:08 EDTGMGeneral Motors says supports Michigan House Bill 5606
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10:13 EDTGMGeneral Motors volatility elevated into Q3 and outlook
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10:00 EDTGMOn The Fly: Analyst Initiation Summary
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06:38 EDTYHOOYahoo in talks to acquire BrightRoll, TechCrunch reports
TechCrunch has learned that Yahoo is in talks to buy cross-platform digital video advertising service BrightRoll for $700M-$725M. The company is currently facing pressure from Starboard Value to consider a breakup or a sale of the company. Reference Link
06:26 EDTGMGeneral Motors initiated with a Neutral at Susquehanna
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October 20, 2014
11:53 EDTGMDeaths tied to faulty GM ignition-switch increases to 29, Reuters says
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09:52 EDTYHOOArmstrong says AOL will not merge with Yahoo, VentureBeat reports
AOL CEO Tim Armstrong said "no" when asked if his company will merge with Yahoo (YHOO), VentureBeat reports, citing a fireside chat with Armstrong at the TechCrunch Disrupt in Europe. Reference Link
08:22 EDTGMCourt rules GM loan docs valid despite mistake, Reuters reports
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07:48 EDTLMIALMI Aerospace awarded contracts to supply parts for Gulfstream business jets
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07:29 EDTYHOOYahoo weekly volatility increases into Q3 and capital outlook
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06:49 EDTYHOOTumblr, TV shows collaborate to broaden reach, NY Times says
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06:26 EDTYHOOYahoo to unveil turnaround, M&A strategy, WSJ reports
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October 17, 2014
18:10 EDTGMGeneral Motors General Counsel Michael Millikin to retire in early 2015
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16:31 EDTGMGeneral Motors announces $12.5B revolving credit facility
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13:16 EDTYHOOYahoo weekly volatility elevated into Q3 and capital utilization outlook
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12:17 EDTYHOOMark Cuban says buying Netflix shares, sees company as M&A target
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October 16, 2014
12:04 EDTGMStocks with call strike movement; ABBV GM
AbbVie (ABBV) January 60 call option implied volatility decreased 5% to 29, General Motors (GM) March 33 call option implied volatility decreased 4% to 39 according to IVolatility.
06:34 EDTGMChina to punish automakers that miss fuel standards, Reuters reports
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