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Sprint Suffers Deeper Loss Than Was Expected

Sprint Corp posted a bigger than had been expected loss on Tuesday and a drop in its revenue for its fiscal first quarter, while it said it is planning to cut costs by $2 billion over the next fiscal year. Shares dropped 4.5% in trading before the market opened even while the company logged its first increase in number of phone customers in over two years. Sprint said it was also expecting its earnings prior to taxes, interest, amortization and depreciation for the 2015 year to be nearer its lower end of is estimated range of between $7.2 billion... 
 

Peet’s Coffee Buying Majority Share of Intelligentsia

Peet’s Coffee & Tea has announced that it will acquire a majority share of Intelligentsia Coffee, which is based in Chicago. It is the second deal for Peet’s with the last month. Once only a single store, Peet’s, based in Berkeley, California is now acquiring boutique coffee roasters that are smaller. Earlier in October, it acquired Stumptown Coffee Roasters based in Oregon. Intelligentsia will operate independently with new opportunities to growth nationally, particularly in grocery stores that are high-end, Peet’s Dave Burwick the... 
 

GoPro Stock Plummets Thursday

GoPro is amidst its biggest plunge to date. The maker of wearable cameras nosedived by over 16% Thursday to its lowest price since its initial public offering. The stock is not just on track to have its worst overall day ever, but is coming very close to its price of the IPO of $24. The amazing story of GoPro is in the process of crashing to earth, as the market for extreme sports lovers who have money for the devices must not be big enough. The sales of GoPro that were defying gravity are coming back too fast to earth. Sales exploded by 72% during... 
 

Goldman Sachs Assessed $50M Penalty (NYSE: GS)

Goldman Sachs has agreed to pay a $50 million penalty and accepted a three-year ban on access to certain sensitive regulatory information for failure to supervise an employee who was a former Federal Reserve Bank of New York employee. The action against Goldman was announced by New York State’s financial regulator. Goldman admitted the failure. That employee is now facing jail time for their actions. The employee, Rohit Bansal, worked for Goldman for less than three months. After being hired by Goldman “in large part for the regulatory experience... 
 

Ford Motor Posts Solid Quarterly Earnings

Ford Motor Co posted net income of $1.9 billion during the just ended third quarter equal to 48 cents per share, which is over double the $835 million that it reported in the same period one year ago, as strong results in its core market in the U.S. offset weaknesses across emerging markets. North American business for Ford, which benefited from higher prices per transaction and demand for trucks that are more profitable, reached a recorded operating profit of just over $2.7 billion for the quarter, up steeply from its $1.4 billion during the same... 
 

Panel for FDA Votes in Favor of Gout Drug from AstraZeneca

A panel of medical advisers that is independent of the U.S. Food and Drug Administration voted on Friday 10 to 4 in favor of approval for a gout drug from AstraZeneca. All of the 10 who supported the drug, known as lesinurad, qualified the vote by urging the U.S. regulatory agency to ask the pharmaceutical company for studies following the launch of the drug to gauge safety and long term effectiveness. Gout is a type of arthritis that is caused by an excess of uric acid, which forms crystals in different joints as well as some tissues, causing extremely... 
 

Dunkin’ Brands Posts Results That Top Estimates

Dunkin’ Brands Group posted results that were better than had been expected for its most recent quarter, despite lackluster traffic and sales at its U.S. locations of Dunkin’ Donuts. For the most recent quarter, sales at same-stores grew 1.1% at locations in the U.S., below the reported 2.9% during the second quarter and growth of 2% seen during the same period one year. The company cited a decline of 0.7% in traffic at the stores and said K-Cup in restaurant and its packaged coffee categories had a negative impact. The parent company for both... 
 

Coca-Cola Misses Revenue Estimates In Third Quarter (NYSE: KO)

Despite higher volume sales,The Coca-Cola Company reported that revenue was lower than predicted by Wall Street for the third quarter. Revenue fell to $11.4 billion, a 4.6 percent decline from the same quarter a year ago. Analysts had expected revenue of $11.58 billion for the quarter. Earnings on a reported basis declined 31 percent, dropping to $1.4 billion, or 33 cents a share. In the same quarter last year, earnings were $2.1 billion, or 48 cents a share. After excluding certain one time expenses, Coca-Cola earned 51 cents a share. That was... 
 

Housing Starts Increase in U.S.

Construction of new homes in the U.S. was up in September, which is a sign that residential real estate will help bolster the largest economy in the world. Housing starts were up 6.5% to an annualized rate of 1.21 million, more than what had been forecasted and the second highest in eight years, showed figures from the U.S. Department of Commerce on Tuesday. However, a fall in the number of building permits means the rebound could be slow in materializing. American consumers, driven by the improving jobs market, are maintaining the U.S. as they... 
 

Consumer Sentiment Bounces Back in U.S.

The consumer sentiment in the U.S. was able to bounce back strongly during the early part of October, suggesting the economic recovery had remained in place despite some headwinds due to weak demand globally and a strong U.S. dollar that have been weighing on the country’s industrial sector, in particular manufacturing. The uptick in sentiment was reported Friday and underscored the robust demand domestically and offered new hope that consumer spending would stay solid enough to support growth in the economy, which slowed by a significant amount... 
 

UnitedHealth Beats Estimates on Profit As Costs Stabilize

UnitedHealth Group, the largest health insurer in the U.S. posted profit that was better than had been expected during the third quarter. The results were helped by medical costs that stabilized in its different health plans and more revenue from its pharmacy management business Optum. The company announced that trends in medical costs were as had been expected, an indication that the use of the medical services by patients had not been increasing in an unexpected manner. The percentage of premiums paid for the services dropped by 80 basis points... 
 

Valeant Pharmaceuticals Served With Subpoenas (NYSE:VRX)

Valeant Pharmaceuticals International has been served with two federal subpoenas issued by the United States attorney’s offices in Manhattan and Massachusetts as part of an investigation into the company’s pricing practices. The information requested concerned the company’s pricing decisions, distribution details, and patient support practices. Patient support programs help patients pay for high priced drugs, with Medicaid, Medicare or commercial insurers covering a portion of the cost. Valeant has received a lot of criticism lately... 
 

Batteries Will Power Office Buildings in Orange County

Orange County’s biggest landlord is having energy systems that are battery powered at over a dozen different office buildings as part of California’s initiative to fight against global warming and to rebuild capacity lost when the nuclear plant San Onofre was shut down. Irvine Co. is planning to install these systems, which use batteries purchased from Tesla owned by Elon Musk, to provide the electricity during periods of the area’s peak demand, typically summer days that are hot when tenants increase the power of their air conditioners. The... 
 

Lyft the Ride-Hailing Business, Partners with Shell and Hertz

Lyft has entered into a partnership with Hertz Global to offer its drivers rental cars, the ride-hailing business said this past week. Daily, weekly as well as monthly rental by Hertz are available as part of a new program for Lyft drivers across Las Vegas, said the VP of partnerships at Lyft Oliver Hsiang. Aimed at Lyft drivers who do not have a vehicle of their own or those that do not meet the standards of Lyft, such as four doors, the new plan will expand to other markets eventually, said Hsiang. He did not offer any timeline. Las Vegas drivers... 
 

Google Jumps Into The News Industry (NASDAQ: GOOG)

Google announced a new news-focused tool on Wednesday, becoming the latest tech company to jump into the news industry. The new tool will reduce the loading time of news stories after they are selected from a Google search. Stories and video can take several seconds to load on the mobile web, an eternity for impatient readers Google, Apple, Facebook, and Snapchat all want to control how we get and see news on our phones. Facebook started testing “Instant Articles” in May with a handful of publishers, including the New York Times, BuzzFeed... 
 

August Trade Gap Widened in the U.S.

The trade deficit in the U.S. widened during August by its most in the last five months as imports started to pick up and weaker growth overseas limited sales to those abroad. The gap widened by 15.6% to over $48.3 billion from July’s revised amount of $41.8 billion, said the Department of Commerce on Tuesday. The forecast by economists was for the deficit to be $48 billion. Exports of U.S. goods dropped to their lowest level since June of 2011. The U.S. dollar is the strongest it has been in 12 years and weakness is being seen in emerging markets... 
 

Oil Rebounds After Producers Lower Rig Counts

Crude oil rose in price after explorers in the U.S. reduced their rig counts to a low of five years, signaling further production drops. West Texas Intermediate futures bounced after news by Baker Hughes was released that said rigs that targeted oil in the U.S. dropped by 26 this week to 614. Prices fell by as much as 1.7% earlier on data from the government that showed the U.S. had added only 142,000 jobs in September, compared to a gain of more than 200,000 projected by analysts. Oil has stayed close to the $45 per barrel rate for over four weeks... 
 

GM Projecting Record Month as Ford Tops Estimates

Fiat Chrysler Automobiles kept its streak of monthly sales alive as its U.S. deliveries were up 14% during September powered by a 40% rise by Jeep. GM, Nissan, and Ford beat estimates, while Fiat Chrysler and GM projected a sales pace that was faster than the rest of the industry has seen in the past decade. The automaker that is Italian-American reported 193,015 vehicles sold last month, matching the increase predicted by an average of analyst estimates. Sports utility vehicles for Jeep, led by Cherokee record, had their second biggest month every... 
 

Raytheon Wins Cybersecurity Contract for $1 Billion

The Homeland Security Department awarded a huge contract for cybersecurity to Raytheon that is worth over $1 billion. Homeland Security hopes this will help to shore up the defenses of the federal government against the ongoing onslaught of cyber attacks. The contract, one of the biggest civilian orders for cybersecurity in many years, would help over 100 federal civilian agencies protect networks against the malicious hackers. It comes following the most damaging attack in history on the Office of Personnel Management. OPM recently announced that... 
 

Google Uses Android Allegedly to Stifle Its Competition

Google’s dominance is possibly reaching alarming proportions, which is why the Federal Trade Commission in the U.S. might have to step in to ensure other app developers received enough exposure to users of Androids. The investigation has already been given the approval of the Department of Justice and looks to answer a simple question: Is the search engine giving its own apps unfair advantage in Android over apps that are made by other developers. Reports say that Android could be considered a monopoly especially when it comes to apps. Android... 
 

Golden Road Brewing Acquired by Anheuser-Busch InBev

The largest Los Angeles craft brewery, Golden Road Brewing is being purchased by Anheuser-Busch InBev the beer giant. The news of the acquisition first broke on Wednesday morning as many from the craft beer industry from around the nation had convened in the city of Denver for the opening of the Great American Beer Festival an annual trade show that allows attracts thousands. Details of the acquisition were sparse from the press release that announced the deal and were accompanied by a video of Meg Gill the president of Golden Road and Andy Goeler... 
 

Darden Raises Its Guidance on Revenue Increase

Darden Restaurants Inc announced that sales had grown faster than were expected during its most recent quarter as the turnaround of the Olive Garden brands started to gain traction. Olive Garden was helped by its customized lunch options, new sandwiches made with breadsticks and the increased popularity of its takeout option. Sales at same stores at the chain of Italian restaurants increased 2.7% during the recently ended quarter, marking the fourth straight quarter of growth in same stores for the chain. In June, Darden revealed its plans to separate... 
 

China Asking Tech Firms to Sign New Controversial Pledge

U.S. tech companies are being pressured by China to agree to many measures that could ultimately force them to hand over their user data to the central government. According to a report in the New York Times, a government agency in China sent letters to tech companies during this past summer requesting they promise that they will not harm the security of China, would store their user data within the borders of China and would make sure products were both controllable and secure. These stipulations could eventually lead to the tech businesses being... 
 

Steep Drop in Output of Autos Lowers Production in Factories

Automakers in the U.S. cut back on production sharply in August, lowering the overall output in factories and highlighting a weak spot in the economy a day prior to a key meeting of the Federal Reserve. Manufacturing production has fallen 0.5% the largest decline since January of 2014, said the Federal Reserve on Tuesday. The drop in output in the autos accounted for the largest part of the decline. Computer, furniture and airplane production also dropped. Policymakers from the Fed will start a meeting of two days on Wednesday, to consider whether... 
 

McDonald’s: Cage Free Eggs Within Ten Years

McDonald’s is making changes again. The burger chain announced it would be switching to all cage-free eggs within the next decade. According to the United States Department of Agriculture, cage free eggs are from birds that can roam freely inside an enclosed area and do not have limited access to fresh water and food. Last March, McDonald’s announced its commitment to chickens that are raised without any human antibiotics. The company might drop its liquid margarine for real butter, according to new reports that surfaced earlier in the month. The... 
 

Sales Dip for GM during August in China

General Motors Co reported on Monday its largest drop in sales for China in the past five months during August as many global automakers are struggling with a deepening slowdown in the economy and dropping equities in the largest auto market in the world. Sales of vehicles for GM and its partners in a joint venture fell by 4.8% in August compared to the same month last year, while Ford Motor as well as Nissan Motor also reported shrinking sales for August, highlighting the divide between the winners and losers in China’s car market. The figures... 
 

Haggen Suing Albertsons Following Their Merger

Haggen has filed a lawsuit on September 1 that seeks over $1 billion in damages from the supermarket chain Albertsons. The complaint claims that Albertsons made systematic and coordinated efforts to eliminate competition and Haggen as a competitor in more than 130 local markets across five states. The complaint also said Albertsons made false representations to both the FTC and Haggen about the commitment by Albertsons to a transformation in a seamless merger of the stores into viable competitors under the banner of Haggen. The suit was filed in... 
 

Lululemon Price Increases Raise Customers’ Ire (NASDAQ:LULU)

Some Lululemon customers are hopping mad at the company’s latest attempt to raise prices on their products. The price hikes were spotted by eagle eyed customers on Tuesday. They reported that the company increased prices for some cropped pants from $72 to $88. Many of the other pants sold by the company are now priced at $98. A representative for Lululemon says that the price increases did not occur across the board, disclosing that some prices increased, some decreased, and roughly half stayed the same. On Lululemon’s message boards,... 
 

Unemployment in Germany Drops While Manufacturing Gains Momentum

German unemployment dropped during August, while manufacturing increased momentum, signaling that the largest economy in Europe would maintain growth. Joblessness fell by 7,000 on a seasonally adjusted rate to 2.79 million said the Federal Labor Agency located in Nuremberg on Tuesday. The rate of unemployment stayed at 6.4%, while the manufacturing Purchasing Managers’ Index rose from July’s reading of 51.8 to 53.2, which is far above the level of 50 needed to indicate expansion. Germany is ready for a period of solid growth that is supported... 
 

Alnylam New Drug Might Threaten Regeneron, Amgen and Sanofi

An experimental drug made by Alnylam Pharmaceuticals and Medicines Co, was able to cut the bad LDL cholesterol levels amongst patients in a small scale trial by almost as much as the new treatments offered by Amgen Inc, Regeneron Pharmaceuticals and Sanofi, with much less frequency of use. The experimental medication is a member of new treatments that are targeting the protein PCSK9, that allows too much of the bad cholesterol to circulate in blood. The new results were released on Sunday in London. The drug by Alnylam is known as ALN-PCSsc and... 
 

Jobless Claims in U.S. Remain Close to Historic Lows

The number of people in the U.S. seeking unemployment benefits last week for the first time fell, suggesting the U.S. labor market has remained healthy. The initial claims for jobless benefits a proxy for countrywide layoffs in the U.S. dropped by 6,000 to 271,000 for the week that ended on August 22, announced the Labor Department on Thursday. The drop comes following four consecutive weeks of increases. Economists estimated that there would be 273,000 claims. The Department of Labor said no special factors existed that impacted this most recent... 
 

Verizon FiOS Service Delayed In Many NYC Neighborhoods (NYSE:VZ)

In 2008, New York City came to an agreement with Verizon for the company to offer its high-speed FiOS Internet service throughout the city. Under the agreement, Verizon would lay enough fiber-optic cable for FiOS to pass all three million homes in the city. Now, seven years later, many New Yorkers are still waiting for the service to become available to them. The deadline for the project was the end of last year. Universal access to affordable broadband would help bridge the divide between those who can get online easily and inexpensively and those... 
 

China Lowers Interest Rates and Reserve Ratio

The central bank of China cut its interest rates as well as lowered the amount of reserves that banks are required to hold. This was the second time in the past two months the central bank has done this. The hope of the bank was to ratchet up support for a sputtering economy and a stock market that has plummeted sending a rippling affect across the globe. The moves come after stocks in China tumbled again Tuesday, as investors despaired at what they called a lack of policy action by Beijing in response to the recent data that suggested a downturn... 
 

Canadian Inflation Measure Up 1.3% during July

Annual inflation in Canada increased at a faster rate in July due to high costs for items than were imported like cars and food that offset the lower prices of gasoline and energy. The all-items consumer price index for Canada was up 1.3% during July from the same period one year ago, said the government agency Statistics Canada on Friday, matching the expectations in the market. During June, the CPI was up 1%. At the same time, the annual rate of core inflation, which excludes the volatile components such as energy and food prices was up in July... 
 

Trimming Expenses Led To Stronger Earnings For Target (NYSE:TGT)

Intensive cost cutting lifted Target’s bottom line in the most recent quarter. For the second quarter of its fiscal year, Target reported adjusted earnings of $1.22 a share. This was considerably higher than analysts’ estimates of earnings of $1.10 for the quarter. Target previously predicted that earnings would fall within a range of $1.04 to $1.14 in the second quarter. The strong earnings results has prompted the company to raise its annual outlook to earnings of $4.60 to $4.75 a share. The company previously forecast earnings of $4.50 to... 
 

American Eagle Sees Growth in Comparable Store Sales

American Eagle Outfitters the retailer for teen apparel reported its best growth in comparable sales in the past 13 quarters helped by a broader range of merchandise and less discounts. American Eagle, unlike its rivals Abercrombie & Fitch and Aeropostale has managed to win shoppers back by improving merchandise to reflect the trends such as bohemian and festival inspired tops and dresses, shirt dresses as well as denim pencil skirts. The company announced it had benefited as well from moving away from its clothing that was logo centric, which... 
 

North Dakota Oil Production Holding Its Own

North Dakota is doing well as far as oil producing is concerned, despite the huge drop in the price of oil and predictions the shale boom in the U.S. was soon fade. The Department of Mineral Resources in North Dakota released a new report that put the oil output for the state at 1.21 million barrels per day during June, which is the second highest rate for a month ever recorded. North Dakota set another monthly record for the production of natural gas during June at 1.6 million cubic feet. Production from the Bakken Shale in North Dakota has slowed... 
 

General Mills Partnering With Brewery to Make HefeWheaties

General Mills will partner with Fulton a microbrewery in Minneapolis to launch a limited edition, wheat, German-styled beer HefeWheaties that will look to capitalize the iconic brand of the food giant. Wheaties are not ingredients in the new beer but its label will mimic the usual orange Wheaties box although without the signature photo of an athlete on the front. The collaboration of Fulton and General Mills grew from the fact a few of the founders of the microbrewery also worked at General Mills, which is headquartered in Minnesota’s Twin... 
 

Losses May By Eminent For American Apparel Investors (NYSEMKT:APP)

Investors in American Apparel are watching nervously to see if the troubles at the company will result in them losing their investment. The retailer recently announced that it does not have the funds to continue operations next year. This means that the company will have to find new financing or raise money before it runs out of funds. Shares of the company’s stock fell sharply after the announcement. American Apparel warned that investors could suffer big losses on their investments if it does not come up with a solution to its issues quickly.... 
 

Burger King Joins Trend Toward Spicy With Fiery Chicken Fries

Burger chain Burger King hopes some heat helps it finish off its summer with some strong sales. After chicken fries played a big part in boosting sales of same-stores by 6.7% during the second quarter, Burger King will introduce a spicy version of this cult favorite in the U.S. during this week. The thin fried chicken strips are flavored with black and cayenne pepper and were created to appeal to the spice seekers, said the CMO of the burger maker Eric Hirschhorn. He added that they wanted to make sure it work for people who like to eat spicy food,... 
 

Netflix Extends Maternity and Paternity Leave to One Year

Netflix announced last week that it was changing it leave policy for maternity/paternity to give new parents as much time off, which is paid, as they need in the first year following the birth of their baby or when they receive one who is adopted. This move comes as Microsoft was updating its policy for maternal/paternal. It was reported that Microsoft would extend its paid leave for mothers and fathers to 12 weeks, with an option of an additional eight as maternity disability leave. In a prepared statement on Wednesday, Microsoft announced that... 
 

Hershey Posts Flat Sales for the Quarter, Forecast Cut

Hershey Co the chocolate maker reported sales that were flat for the quarter for just the first time in over five years, as its volumes dropped in North American due to hikes in price and demand was weaker across China. The maker of Reese’s Peanut Butter Cups and Hershey’s Kisses also lowered its sales forecast for the full-year. It was the fourth time the company has cut its sales forecast. Slowing growth in the China economy has weakened the spending on consumer items that are non-essential, including Hershey’s Kisses, which make popular... 
 

Disney Fails To Meet Expectations For 3Q (NYSE:DIS)

Walt Disney Co. saw its shares fall after the company failed to meet expectations on earnings for the third quarter. In its fiscal third quarter, revenue for the company totaled $13.1 billion, below analysts’ estimates of $13.22 billion. The difference between the two numbers was mostly due to unfavorable exchange rates. The company reported that quarterly profit increased 11 percent to reach $2.48 billion, or $1.45 a share. Analysts had expected $1.42 a share in profit for the quarter. After the earnings announcement, Disney’s shares fell about... 
 

Time Warner Keeps Profit Forecast for Full Year

Time Warner Inc was down over 4.1% as the huge media company kept its profit forecast for the full year unchanged following an earnings report that topped estimates of analysts by a hefty margin during the last quarter. Maintaining their guidance following earnings for the second quarter of 22 cents per share higher than the predictions suggests that the estimates for the second six months of the year might be too high to reach, said one Wall Street analysts. Shares were down 2.7% as of 10:00 a.m. Wednesday morning. The release of Batman: Arkhaam... 
 

Noble Energy Beats on Profit as Production Increases

Gas and oil producer Noble Energy Inc reported a profit for the quarter that was better than had been expected as higher production was able to offset the huge impact of a drop in the price of crude. Noble announced on Monday that total sales volumes were up 3% for the quarter to just over 299,000 barrels per day of oil equivalent. The company raised its forecast for sales volume for the rest of 2015 to between 305,000 and 320,000 from its prior forecast of between 300,000 and 315,000. Noble and other companies that produce gas and oil have used... 
 

Bank in Colorado Suing Fed Over Marijuana

A bank in Colorado sued the U.S. Federal Reserve, as the federal agency did not give permission to the bank to provide financial services to businesses that are dealing in marijuana. Denver’s Fourth Corner Credit Union filed its suit on Thursday against the Federal Reserve’s Kansas City branch, which supervises all banks in Colorado. That branch denied the request of the Fourth Corner to allow it to operate within the federal banking system. In 23 states, medical marijuana is now legal and in Colorado, Oregon, Washington, Alaska and the District... 
 

Whole Foods Hit by Bad Press on Overcharging

Shares at Whole Foods tumbled on Thursday after the grocer posted bad news in its earnings report for the quarter. The company announced soft sales growth in comparable stores, admitting that bad press that surrounded a recent scandal related to overcharging had weighed on its sales during a time when it has been struggling to compete against the huge proliferation of organic and natural offerings at other grocers that are more mainstream. It also missed estimates on earnings on both its top line and bottom and gave guidance for its fourth quarter... 
 

GrubHub Increases Its Outlook for 2015 as Profit Surges

GrubHub Inc announced on Tuesday that it raised its guidance for the 2015, as the food ordering and delivery online company reported that earnings had soared during the second quarter. For the full year, GrubHub is projecting its earnings prior to taxes, interest, amortization and depreciation will be between $104 million and $112 million, with revenue reaching between $358 million and $364 million. Those figures are up from its estimate previously of between $101 million and $109 million with revenue of between $346 million and $361 million. For... 
 

Discovery Communications, Comcast Reach Agreement On Distribution (NASDAQ:DISCA)

Discovery Communications and Comcast have announced that they have reached an agreement on a new distribution pact. The distribution pact regards the carriage of Discovery’s 12 U.S. networks on Comcast cable systems. Those networks include Animal Planet, Discovery and TLC, three of Discovery’s most popular networks. The old distribution pact between the two companies reportedly expired last month. As part of the pact, Comcast can include Discovery’s networks in its TV Everywhere service for Comcast Xfinity customers. The TV Everywhere... 
 

Amazon Passes Walmart in Market Value

When Amazon posted its earnings for the second quarter investors were looking for one thing – profit. Amazon did not disappoint sending the price of its stock up nearly 19% during trading after hours and securing its new place as the world’s largest retailer by market capitalization, knocking the former holder of first place, Walmart, down a notch from the perch it held for a number of years. The company was valued during trading after hours on Thursday at $267 billion and Walmart was sitting at $233.5 billion. The increase in share value reportedly... 
 
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