Company News: IBM, NFLX, CVX, CIEN, BK, VZ, TM, GS

• International Business Machines Corp. (NYSE:IBM) announced it was acquiring Algorithmics, a risk analytics firm based in Toronto, Canada, for $387 million in cash

• Negotiations between Netflix, Inc.’s (NASDAQ:NFLX) and Starz Entertainment regarding the renewal of Starz’s licensing agreement collapsed. Subsequently, the pay cable network announced that it will stop providing its content to Netflix

• According to reports, Chevron Corp. (NYSE:CVX) announced that a tropical disturbance has forced the company to remove its workers from the Gulf of Mexico

• CIENA Corp. (NASDAQ:CIEN) reported third quarter Non-GAAP earnings per share of $0.08 that surpassed the Zacks Consensus Estimate of a loss of $0.21 per share

• Conflicting management styles saw Robert P. Kelly resign as chairman, chief executive officer and director of The Bank of New York Mellon Corporation (NYSE:BK)

• Verizon Communications Inc. (NYSE:VZ) declared it had hiked its quarterly dividend from $0.48 to $0.50

• Weakness across all of Toyota Motor Corp.’s (NYSE:TM) models resulted in sales declining by 13%

• The Goldman Sachs Group, Inc. (NYSE:GS) was ordered by the Federal Reserve to recheck its foreclosure practices, citing a “pattern of misconduct and negligence”.

TOYOTA MOTOR CP (TM): Free Stock Analysis Report

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