Post Market Hedge Fund and Company News: TXN, BA, EW, JNJ, ES, UA

Every afternoon we provide an update on global market levels, economic news, and hedge fund news. Post Market Update Market LevelsUS:  Dow: 12411.20 (-1.14%), S&P 500: 1308.93 (-1.26%), NASDAQ: 2809.73 (-1.70%) Europe: CAC: 3042.76 (-0.29%), DAX: 6141.05 (0.17%), FTSE: 5432.37 (-0.05%). Asia-Pacific: Australia: 4063.70 (-1.09%), China: 2305.86 (1.06%), Hong Kong: 18953.63 (2.38%), India: 5054.10 [...]

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Keep Your Eyes on These Stocks: FRX, NAV, DMND, CNC, AMPE, RHHBY

The following stocks have news that should keep them trading actively on Monday. Forest Laboratories (NYSE:FRX) The company lowered its fiscal year 2013 earnings guidance after announcing that its March patent exclusivity expiration on Lexapro, its treatment for depression, affected the company more than expected. The first prices from approved distributor Teva [...]

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Telefonica S.A. (TEF) Sells Stake in Unicom, in Attempt to Reduce Debt

In another company hard hit by the European financial crisis, Spain's  Telefonica S.A. (NYSE:TEF) announced that it will sell its 4.56 percent stake in China Unicom (NYSE: CHU) (HKG:0762) to reduce its debt. The deal has Telefonica selling the company's one billion-plus shares (traded on HKG) back for $1.1 billion euros ($1.4 billion). [...]

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China Looks for More Imports But Could Face Resistance

Set against its slowing growth numbers this past week, China still has hopes that import growth can help to keep its trade balance and maintain a recovery. In remarks on Monday by China's Minister of Commerce Chen Deming, he said that even with May's slight recovery in its trade numbers, [...]

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QEIII: Would Asset Prices Rise as Much as They Did Under QEII?

The Federal Reserve might soon announce another round of quantitative easing. Reports vary as to when the central bank will initiate the new plan, but many reports seem to be pointing to an announcement in August. The previous round, known as QE2, had a buffering effect on asset prices. The coming round [...]

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John Hussman Critical of Facebook’s Business Model

With Facebook Inc (NASDAQ:FB) trading down 27 percent from its IPO price, there is no shortage of fund managers, analysts and even layman investors slamming the company. In John Hussman’s weekly market commentary, he continues this trend with a good look at Facebook’s overall business model and why it doesn’t work [...]

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Russell 3000 Index to Include Facebook As Growth Declines

In a new story line for the beaten up Facebook Inc (NASDAQ:FB), the stock has been included on a preliminary list to join the Russell 3000 Index. According to Russell Investments' website, this index "measures the performance of the largest 3000 U.S. companies representing approximately 98% of the investable U.S. equity [...]

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New Macbook Specs Leaked ahead of WWDC Event

  Apple Inc. (NASDAQ:AAPL) is holding one of its biggest events of the year today in the form of the World Wide Developer Conference. The most likely outcome of the conference is a renewal of the firm's line of Macbook lap tops. Specs for the new lines of computers have [...]

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Navistar Rises on News of Carl Icahn Investment

Navistar International Corp (NYSE:NAV), the Lisle, Illinois commercial truck maker, saw its shares rise on Friday by over 16 percent, and continue to rise Monday, on news that Carl Icahn had increased his stake in the beleaguered company. The activist investor increased his holdings from 10 percent to 12 percent, [...]

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Why Should Jamie Dimon Testify? Ask Fellow Wall St CEOs

Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE:JPM) will be testifying before the Senate Banking Committee on Wednesday to discuss the specifics of the bank’s $2 billion trading loss.  Some of Dimon’s peers simply do not understand why Dimon is being called to testify before the Senate. Stephen A. [...]

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Apple (AAPL) Shares Up Ahead of WWDC

 While the broader market struggles to make sense of the troubles in Europe and the latest bailout announcement regarding Spain, Apple Inc. (NASDAQ:AAPL)'s stock has climbed ahead of its high-tech peers on the NASDAQ as investors eagerly anticipate the upcoming Apple Developer’s Conference.While the application development market is becoming [...]

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Goldman Looks to Sell Hedge Fund Division to State Street

Goldman Sachs Group, Inc. (NYSE:GS) is currently in talks with State Street Corporation (NYSE:STT) to discuss the possibility of a sale of Goldman’s hedge fund division.  The details are not yet final but we do know that the deal does come with fund accounting, valuation and risk management for [...]

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Icahn Begins WebMD Activism

Carl Icahn may be starting an activist run in WebMD Health Corp. (NASDAQ:WBMD). An SEC filing made this morning by the company revealed that it was increasing the size of its board of directors from eleven to twelve. The new director will be appointed by Carl Icahn. Icahn has been [...]

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Facebook IPO: The Biggest Loser Appears to be UBS

The losses due to Facebook Inc (NASDAQ:FB) IPO technical glitch were initially estimated to be about $100 million. However, a couple of weeks ago that figure was doubled to about $200 million by some stockbrokers and analysts. The thirty minute technical failure, which resulted in system delays, not only have hurt impatient  [...]

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Chesapeake Shareholders Express Rage at Board

Chesapeake Energy Corporation (NYSE:CHK) recently took a shock when shareholders rejected two directors from joining the board and demanded to have more influence over company decisions.  Shareholders have lost confidence in the natural gas producer’s management.  Scandals and reports of “mismanagement” have pushed shareholders to the edge and now [...]

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Morning Market News: Updates on AAPL, GS, TSCO, VOW, NOK, CMCSA

Every morning we puts out a news report with the latest news in global stock markets, company news, and global economic news.  Morning Market Update Market Levels  * US: Dow Futures: 12559.00 (0.45%), S&P 500 Futures: 1328.50 (0.49%), NASDAQ Futures: 2569.00 (0.47%) * Europe: CAC: 3087.75 (1.18%), DAX: 6235.20 (1.70%), FTSE: 5471.25 (0.67%). * [...]

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JPMorgan's Jamie Dimon Heads to DC

Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE:JPM) will be heading to Washington DC this Wednesday to testify before the Senate Banking Committee on his firm’s $2 billion loss.  Dimon has a great reputation and is an icon in the investment banking industry.  Unfortunately, this trading debacle has [...]

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Lunch with Berkshire's Warren Buffett Costs $3.5 million

Warren Buffett’s charity lunch for the Glide Foundation ended with a winning bid of $3.5 million.  The Glide Foundation is based in San Francisco and the foundation provides help and services to the homeless. Over the past 13 years, Warren Buffett has been holding this annual charity lunch but this [...]

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