News Headline Summary

RANsquawk - Today's Trading Edge

TIME: 1758GMT
NEWS: CIT Group (CIT) has explored a possible sale according to sources
REACTION: In immediate reaction Co. shares moved 1.60% higher

TIME: 1707GMT
NEWS: Rockwood (ROC) said to be working with Lazard on ceramic-material unit Ceramtec options according to sources
REACTION: In immediate reaction, Co. shares moved up 1.54%

TIME: 1645GMT
NEWS: Moody's (MCO) on their conference call note they are actively repurchasing stock in the market
REACTION: Co. shares moved 1.3% higher in reaction to this comment.

TIME: 1619GMT
NEWS: Negative piece for ZAGG (ZAGG) on Seeking Alpha
REACTION: ZAGG shares fell over 4.0% in 10 minutes in reaction to this article.

TIME: 1537GMT
NEWS: Negative for Equifax (EFX), there will be a negative piece on Co. coming this weekend
REACTION: In immediate reaction, Co. shares moved down 1.40%

TIME: 1525GMT
NEWS: Mark Cuban has cut his stake in Vringo (VRNG) to 1.4% from 7.4%
REACTION: In immediate reaction, Co. shares moved up 3.49%

TIME 1503GMT
NEWS: Leon Cooperman discloses 6.8% passive stake in Given Imaging (GIVN)
REACTION: Co. shares moved 4.17% higher in immediate reaction to the news from USD 16.32 to USD 17.00.

TIME: 1437GMT
NEWS: Dougherty positive on Tesla Motors (TSLA), says sees upside to its USD 45 price target
REACTION: In reaction to this positive news Co. shares gained 1.1%

TIME: 1038GMT
NEWS: German government spokesman says Germany feels currency rate should reflect economic fundamentals
REACTION: In immediate reaction EUR/USD moved higher by 18 pips going from 1.3411 to 1.3429.

TIME: 0909GMT
NEWS: ThyssenKrupp (TKA GY) Europe efficiency program is going to boost its EBIT, wants positive EBIT effect of EUR 2bln over 3 year
REACTION: In the 3 minutes following the news TKA GY shares rose 1.72%, going from EUR 17.15 to EUR 17.81. However, the move higher was not sustained and prices came back to pre-announcement level after it was reported that the measures may affect the minority div paid EHW.

TIME: 0700GMT
NEWS: USD/JPY moves lower following market talk of stops taken out at 93.00 and 92.80, also leverage names selling seen behind the move and talk that a tier 1 US bank was the biggest seller in the USD/JPY decline this morning. In terms of fundamental news, one newswires ran a comment from Japanese finance minister Aso that was taken out of context, it said that the “pace of JPY weakening was too fast” but another newswires clarified that it was meant to say “JPY is falling at a fast pace and is not unexpected”. All of the above issues were pointed out on the squawk and covered on the website whilst the moves were occurring.
REACTION: From the initial sell off a move lower of 110 pips was observed over an hour and a half from 0700GMT onwards. When the Aso comment was clarified USD/JPY gradually moved 74 pips higher from 92.16 to 92.90 with the upside move commencing at 0840GMT and finishing at 0900GMT.

08 Feb 2013 - 22:17 - Forex Rumour - Source: RANsquawk

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