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Stock Market & Financial Investment News

News Breaks
February 19, 2014
12:37 EDTVZ, SIG, CMCSA, NFLX, ZLC, PBPB, GOOG, TIF, XOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday after the S&P 500 spent the majority of the morning in positive ground. Significantly worse than expected housing data for January contributed to a lower open for the major averages, but the Dow and S&P had recovered within an hour of the opening bell. The averages hung near the flat line until just about noon, when all three declined in concert. The move lower may be related to cautious comments coming from the International Monetary Fund, but also coincided with new headlines regarding the ongoing political unrest in Ukraine. ECONOMIC EVENTS: In the U.S., the newly revamped producer price index, which now includes the wholesale cost of goods and adds services, construction, government purchases and exports, climbed 0.2% on a seasonally adjusted basis, which was above the forecast for a 0.1% increase. Housing starts dropped 16% from the prior month to an 880K annual rate in January, which was significantly worse than expected. Building permits also fell a worse-than-expected 5.4% from the prior month to a rate of 937K. COMPANY NEWS: Signet Jewelers (SIG) agreed to acquire Zale (ZLC), which operates its namesake brand as well as Kay Jewelers, Jared, and others, for about $1.4B, or $21.00 per share. Signet projected the transaction to be high single-digit percentage accretive to earnings in the first full fiscal year after the deal closes, excluding acquisition accounting adjustments and one-time transaction costs. Shares of Zale jumped 40% to trade just below $21 at midday, while Signet's stock rose more than 16%. Shares of the leading jewelry and watch retailer in terms of market capitalization, Tiffany (TIF), were up fractionally following the deal between its smaller rivals... After courts ruled against the Federal Communications Commission's last two attempts to enforce "Open Internet" rules, otherwise known as "net neutrality," on broadband providers like Verizon (VZ) and Comcast (CMCSA), the regulator said it is going back to the drawing board to craft new rules to prevent ISPs from charging companies like Netflix (NFLX) and Google (GOOG) to provide consumers of their services the highest speeds. MAJOR MOVERS: Among the notable gainers following their earnings reports were land drilling contractor Nabors Industries (NBR), which advanced 12%, and GPS maker Garmin (GRMN), which gained 8%. Among the noteworthy losers was U.S. Steel (X), which fell 7% after the U.S. Department of Commerce declined to impose tariffs on oil and natural gas pipe products from South Korea, which is the largest exporter among nine nations targeted in a complaint from the company and others in the industry. Also lower were shares of sandwich shop owner Potbelly (PBPB), which fell nearly 11% after reporting quarterly sales that missed expectations. INDEXES: Near midday, the Dow was down 34.00, or 0.21%, to 16,096.40, the Nasdaq was down 21.11, or 0.49%, to 4,251.67, and the S&P 500 was down 4.63, or 0.25%, to 1,836.13.
News For ZLC;SIG;TIF;NFLX;VZ;GOOG;CMCSA;X;PBPB From The Last 14 Days
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January 27, 2016
06:59 EDTXOptions expected to be active: AAPL FB AMZN BIIB GD HES TXT BA UTX X T
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06:38 EDTGOOGGoogle files patent for secure delivery component for drones, Reuters says
Alphabet's Google has filed a patent for a drone component designed to store packages securely, Reuters reports. The patent describes a "delivery receptacle" that will take packages from an "aerial delivery device" for deposit to a secure area, the report says. Reference Link
06:14 EDTGOOGFCC proposes set-top box rule revamp, WSJ reports
Federal regulators are anticipated to propose an overhaul of rules for television set-top boxes, a move that targets reducing bills for cable viewers and giving more access to web-based programming, the Wall Street Journal reports. FCC chairman Tom Wheeler's proposal would likely include providing cable and satellite customers more options when it comes to using their service provider's set-top box and cable app, the report says. Such a move could open up the market to alternative set-top-box providers, including TiVo (TIVO) and Alphabet's (GOOG) Google, the report notes. Reference Link
06:10 EDTNFLXAmazon beats Netflix at Sundance deals, NY Post reports
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January 26, 2016
19:57 EDTGOOGGoogle preparing to reach EUR150M tax settlement with Italy, The Times says
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19:26 EDTXOn The Fly: After Hours Movers
UP AFTER EARNINGS: CA Technologies (CA), up 4.8%... Ethan Allen (ETH), up 10.6%... Hawaiian Holdings (HA), up 5.7%... Capital One (COF), up 1.1%. ALSO HIGHER: Fate Therapeutics (FATE), up 25% after announcing that the FDA has cleared the company's investigational new drug application for ProTmune... Raptor Pharmaceutical (RPTP), up 6.6% after being upgraded to Buy from Neutral at Citi. DOWN AFTER EARNINGS: U.S. Steel (X), down 9%... AT&T (T), down 1.9%... Apple (AAPL), down 2.6%... VMware (VMW), down 4.7%... TSYS (TSS), down 7.4% after reporting quarterly results and announcing the acquisition of TransFirst for $2.3B in cash. ALSO LOWER: Lannett (LCI), down 9% after giving second quarter and fiscal 2016 guidance... Baxalta (BXLT), down 2% after filing to sell $1.45B of common stock for holders.
19:23 EDTNFLXNetflix bid $20M for 'Birth of a Nation,' Bloomberg says
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16:38 EDTXU.S. Steel sees lower results across operating segments in 2016
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16:35 EDTXU.S. Steel reports Q4 adjusted EPS (23c), may not compare to consensus (83c)
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16:00 EDTNFLXOptions Update; January 26, 2016
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14:32 EDTXNotable companies reporting after market close
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13:16 EDTNFLXNetflix in counter-trend drop
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11:13 EDTNFLXActive options; AAPL BAC FB NFLX C MSFT TWTR VALE FCX COH XOM AMZN
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10:06 EDTNFLXOptions with decreasing implied volatility
Options with decreasing implied volatility: SRPT GNC ALKS CALM NFLX CREE FFIV COH ISRG IBM
09:32 EDTNFLXActive equity options trading on open
Active equity options trading on open: FB PEP NFLX PM GM RMBS MSFT GLW AAPL
09:05 EDTVZVerizon and Samsung launch network extender solution
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08:26 EDTGOOG, CMCSATwitter in play after executive departures, says Cantor
Cantor Fitzgerald analyst Youssef Squali believes yesterday's news of several senior executives leaving Twitter (TWTR) puts the company in play and could encourage potential bidders to step forward. Twitter's current valuation and sizeable user base makes it a strategic asset for a number of potential buyers, Squali told investors last night in a research note. Potential suitors on the technology side include Alphabet (GOOG, GOOGL), Facebook (FB) and Microsoft (MSFT), the analyst contends. On the media side, Squali thinks 21st Century Fox (FOXA), Disney (DIS), Comcast (CMCSA) or Time Warner (TWX) could express interest in Twitter. No concentration of share ownership and no super-voting structure increase the odds of a buyout, Squali argues. The analyst, however, adds that the executive departures are not good news for a company in the midst of a turnaround. He maintains a Buy rating on the microblogging operator with a $45 price target. Twitter closed yesterday down 82c, or 5%, to $17.02..
07:51 EDTGOOGStreet still underestimates Alphabet's outlook, says Bernstein
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07:44 EDTGOOGStreet margin outlook for Amazon continues to be too low, says Bernstein
Bernstein says that Amazon's (AMZN) margins are poised to beat Street expectations, and the firm's 2016 and 2017 EBITDA estimates for the company are about 17% above Street levels. The firm is more upbeat on Amazon than on Alphabet (GOOG, GOOGL) and Facebook (FB)
06:15 EDTGOOGGoogle tax avoidance deal reignites controversy, FT reports
The U.K. government is distancing itself from George Osborne's belief taht the tax deal with Google was "a major success," the Financial Times reports. Google's deal to pay GBP130M in back taxes to the U.K. government has brought back a controversy that made fixing tax avoidance the top priority three years ago, the report says. Prime Minister David Cameron's spokesman declines to repeat Osborne's claim that the deal was a "success" and a "victory," the report says. Reference Link
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