Category: Finance

business, Finance

Wall Street Hot Runners: Molycorp Inc (NYSE:MCP), NQ Mobile (NYSE:NQ), IAMGOLD (NYSE:IAG), Magnum Hunter Resources (NYSE:MHR), Chelsea Therapeutics (NASDAQ:CHTP)

Molycorp Inc (NYSE:MCP) is said to have been downgraded to Underweight from Neutral by JPMorgan financial analysts. The JPMorgan bank downgraded Molycorp Inc (NYSE:MCP) to Underweight as soon as the company reported its Q1 results, stating that Molycorp will look for another capital raise likely this year. Molycorp Inc (NYSE:MCP) stock performance was 1.45% in last session and finished the day at $2.80. Traded volume … Continue reading Wall Street Hot Runners: Molycorp Inc (NYSE:MCP), NQ Mobile (NYSE:NQ), IAMGOLD (NYSE:IAG), Magnum Hunter Resources (NYSE:MHR), Chelsea Therapeutics (NASDAQ:CHTP)

Kevin Long
Finance, Software

(NYSE:NQ) No Evidence Of Fraud found at NQ Mobile

(NYSE:NQ) The Investigation Team conducted a thorough review of cash reported on NQ Mobile’s financial statements and the Company’s cash transactions, which included the following procedures: obtained bank confirmations for the Company’s accounts through in-person visits and mail

Chinese mobile security software maker NQ Mobile said a special committee had found no evidence of fraud, as alleged by short-seller Muddy Waters Research Group. NQ Mobile also said the committee also found no evidence that the company’s revenues and cash balances were inconsistent with public disclosures. Muddy Waters called NQ Mobile a “massive fraud” in October, a charge NQ Mobile rejected as false.

NQ Mobile’s shares rose about 30 percent in premarket trading.

According to the auditors findings : “The Investigation Team determined that the Company’s cash balances were verifiable and consistent with public disclosures. … (ii) The Investigation Team did not find evidence that the Company’s revenues were inconsistent with public disclosures.”

Benedict commented on NQ Mobile’s activity since the Muddy Waters allegation, “We have seen fees drop off a bit from October to around early to mid April, then we saw fees surge again briefly.”. An independent committee investigating Muddy Waters’ allegations at NQ Mobile Inc (ADR) (NYSE:NQ) has found no evidence of fraud. Block says they continue to investigate NQ Mobile Inc (ADR) (NYSE:NQ) and that he doesn’t think the debate over the company will be over “until regulators step in or NQ’s shares go to zero.”

In the meantime, ChinaRock discloses that is has doubled its stake in NQ Mobile. Both short interest and utilization rose by about one percent on the news, according to Benedict. The utilization rate is now 92 percent.

Continue reading “(NYSE:NQ) No Evidence Of Fraud found at NQ Mobile”

Adam Keintzel
Finance

Hot Movers: National Bank of Greece (ADR) (NYSE:NBG), Dendreon Corporation (NASDAQ:DNDN), Facebook Inc (NASDAQ:FB), Twitter Inc (NYSE:TWTR), Weibo Corp (ADR) (NASDAQ:WB)

National Bank of Greece (ADR) (NYSE:NBG) was added to the “model portfolio” of JPMorgan’s European banking analysts Monday, who also added Banco Popular to the list following last week’s moves by the European Central Bank to improve funding to the banking sector. National Bank of Greece (ADR) (NYSE:NBG) stock performance was -5.13% in last session and finished the day at $3.88. Traded volume was 8.96million … Continue reading Hot Movers: National Bank of Greece (ADR) (NYSE:NBG), Dendreon Corporation (NASDAQ:DNDN), Facebook Inc (NASDAQ:FB), Twitter Inc (NYSE:TWTR), Weibo Corp (ADR) (NASDAQ:WB)

Jason Knox
business, Finance

NASDAQ New Lows: Francesca’s Holdings Corp (NASDAQ:FRAN), Essex Rental Corp. (NASDAQ:ESSX), Papa Murphy’s Holdings Inc (NASDAQ:FRSH), Majesco Entertainment Co. (NASDAQ:COOL)

Francesca’s Holdings Corp (NASDAQ:FRAN) issued an update on its FY15 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.05-1.17 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.21, AnalystRatingsNetwork.com reports. The company issued revenue guidance of $387-399 million, compared to the consensus revenue estimate of $397.72 million. The company also updated its Q2 guidance to $0.28-0.34 EPS. Francesca’s … Continue reading NASDAQ New Lows: Francesca’s Holdings Corp (NASDAQ:FRAN), Essex Rental Corp. (NASDAQ:ESSX), Papa Murphy’s Holdings Inc (NASDAQ:FRSH), Majesco Entertainment Co. (NASDAQ:COOL)

Richard Atkins
Finance

Investor’s Watch List: B/E Aerospace (NASDAQ:BEAV), Qiwi PLC (NASDAQ:QIWI), Deutsche Bank AG (USA) (NYSE:DB), HSBC Holdings plc (NYSE:HSBC), Baidu Inc (NASDAQ:BIDU)

B/E Aerospace Inc (NASDAQ:BEAV), which makes products for commercial aircraft and business jets, is planning to separate into two independent, publicly traded companies. One of the businesses will concentrate on aircraft cabin interior equipment. This includes design, development, manufacturing, certification and direct sales worldwide. The business is currently known as Manufacturing Co. B/E Aerospace Inc (NASDAQ:BEAV) stock performance was -4.78% in last session and finished … Continue reading Investor’s Watch List: B/E Aerospace (NASDAQ:BEAV), Qiwi PLC (NASDAQ:QIWI), Deutsche Bank AG (USA) (NYSE:DB), HSBC Holdings plc (NYSE:HSBC), Baidu Inc (NASDAQ:BIDU)

Kevin Long
Finance, Internet

Twitter stock (NYSE:TWTR) to Benefit from Soccer World Cup Fever

This year’s World Cup will play out on Twitter, Facebook, Instagram and messaging apps like WhatsApp just as it progresses in stadiums from Sao Paulo to Rio de Janeiro. Nearly 40 percent of Facebook’s 1.28 billion users are football fans. On Tuesday, the world’s biggest online social network is adding new features to help fans follow the World Cup — the world’s most widely viewed sporting event — which takes place in Brazil from June 12th to July 13th.

Largely ignored during much of last year’s 30 percent rally in the Standard & Poor’s 500 Index, the stocks leading the U.S. market this year rank among its usually sleepiest components. The best sector in 2014 is utilities, including Consolidated Edison. They’re up 14.5 percent on a total return basis this year, compared with 6.4 percent for the S&P 500 as a whole.

The Soccer World Cup in Brazil will be the most tweeted global event ever, according to a report from Twitter (NYSE:TWTR). Brazil’s Twitter director Guilherme Ribenboim said the volume of messages sent during the month-long competition starting on June 12 will dwarf the 150 million tweets sent about the 2012 London Olympic Games. “We have been showing them how they should use the Twitter platform, how to use hashtags, how to engage with their fans.”

Twitter is also bringing back the “hashflags” it introduced in the 2010 World Cup. Users who tweet three-letter country codes for participating nations — such as BRA for Brazil or ESP for Spain — will see the country’s flag appear in their tweet. Twitter says it will then tally the mentions in its “World Cup of tweets.”

Continue reading “Twitter stock (NYSE:TWTR) to Benefit from Soccer World Cup Fever”

Harvey Dyer