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October 26, 2012
16:25 EDTTASR, C, DV, AMZN, VRSN, FB, AAPLOn The Fly: Closing Wrap
Stocks on Wall Street were mixed on the day and the averages were down significantly on the week. Following a midday sell-off, the markets recouped their losses and moved into positive territory during the afternoon before weakening a bit at the end of the session. Among those set to report earnings next week are Exxon Mobil (XOM), Chevron (CVX), and Ford Motor (F)... ECONOMIC EVENTS: In the U.S., the first GDP reading for the third quarter showed growth of 2.0%, versus expectations for 1.8% growth. This was up from the 1.3% growth rate in the second quarter. Personal consumption for the third quarter was in line with expectations, rising 2.0%. The University of Michigan final consumer sentiment reading for October was 82.6, down a bit from the preliminary reading of 83.1... COMPANY NEWS: Apple (AAPL) last night reported quarterly sales that marginally beat expectations and earnings that missed them. The company reported iPhones sales rose 58% compared to last year and iPads sales increased 26% from the prior year's quarter. Shares fell immediately after the results were released and saw a big drop midday, but eventually closed down just $5.54, or 0.91%, to $604.00... Amazon's (AMZN) quarterly losses and revenue were worse than expected, but shares rose through the day, eventually settling up $15.32, or 6.87%, to $238.24 as investors digested the report and Jefferies defended the Q3 results in a note to investors... Citigroup (C) fired an analyst, Mark Mahaney, after the firm was fined $2M by the state of Massachusetts for disclosure violations related to the initial public offering of Facebook (FB)... MAJOR MOVERS: Among the notable gainers were DeVry (DV), up $5.19, or 24.93%, to $26.01, and TASER (TASR), up $1.67, or 26.13%, to $8.06, following their stronger than expected quarterly reports. Noteworthy losers included Verisign (VRSN), down $7.21, or 15.47%, to $39.39 despite higher than expected quarterly earnings as the company warned the Commerce Department may not complete its review of the company's .com registry agreement before it expires at the end of November. Also lower were shares of Constant Contact (CTCT), down $5.10, or 29.95%, to $11.93 after the company's quarterly report spurred a rash of downgrades and lowered price targets... INDICES: The Dow gained 3.53, or 0.03%, to 13,107.21; the Nasdaq rose 1.83, or 0.06%, to 2,987.95; and the S&P 500 fell 1.03, or 0.07%, to 1,411.94.
News For AAPL;AMZN;C;FB;DV;TASR;VRSN From The Last 14 Days
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November 16, 2015
16:43 EDTAAPLGreenlight Capital added Apple, sold some SunEdison
Greenlight Capital gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: CNX Coal Resources (CNXC), Garmin (GRMN), Terraform Global (GLBL), and Liberty Global (LILA). INCREASED STAKES: Apple (AAPL), Michael Kors (KORS), Dillard's (DDS), UIL Holdings (UIL), and Twenty-First Century Fox (FOXA). DECREASED STAKES: SunEdison (SUNE), Micron (MU), Voya (VOYA), Applied Materials (AMAT), and SunEdison Semiconductor (SEMI). LIQUIDATED STAKES: Citizens Financial (CFG), Lam Research (LRCX), Spirit AeroSystems (SPR), Hertz (HTZ), and Macy's (M).
16:00 EDTAMZN, AAPL, FBOptions Update; November 16, 2015
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14:06 EDTCCiti reports October credit loss 2.27% vs. 2.29% last month
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12:35 EDTAAPLApple reaps 94% of global smartphone profits, Business Insider says
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11:24 EDTCClearing House to hold a conference
Clearing House Annual Conference is being held in New York on November 16-18.
10:37 underperforms, heads sharply lower
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10:25 EDTAAPLUBS trims Apple target, says iPhone partner cut production forecast
Hon Hai, which manufactures Apple's (AAPL) iPhones, expects to assemble significantly fewer iPhones this quarter than in the same period in 2014, UBS wrote in a note to investors today. WHAT'S NEW: Hon Hai Precision Industry, also known as Foxconn, is expected to assemble 10% fewer iPhones this quarter than in the same period in 2014, said UBS analyst Steven Milunovich, citing work from fellow UBS analyst Arthur Hsieh. Previously, companies that supply force touch components for iPhones saw a 10%-15% reduction in their orders, the analyst reported. These developments "are not encouraging," but Apple had previously ordered a large number of iPhones for Q4, according to Milunovich. Overall iPhone demand "could still be decent," he believes. However, the analyst lowered his iPhone sales estimate for Apple's March quarter to 61M from 62.5M, asserting that iPhone sales on China's November 11 Singles Day holiday may have come in below expectations. Based on October search volumes, he continues to believe that demand for iPhone units in the fourth quarter of the calendar year will be 75M, in-line with the consensus outlook. Milunovich trimmed his price target on Apple to $140 from $150 but kept a Buy rating on the shares. WHAT'S NOTABLE In a note to investors on November 10, Credit Suisse reported that it was cutting its estimates for 2016 iPhone sales. The firm expects sales of the device to fall 10.4% in the first quarter versus the same period in 2015, and it predicts that iPhone sales will decline 5.5% year-over-year in 2016. Suppliers with greater than 10% exposure to Apple include Avago (AVGO), SanDisk (SNDK), Analog Devices (ADI), Broadcom (BRCM), Texas Instruments (TXN), NXP Semiconductors (NXPI) and Fairchild (FCS), Credit Suisse reported. The firm said it continues to have a negative view of the smartphone sector. PRICE ACTION: In early trading, Apple added nearly 1% to $113.34.
09:59 EDTFB, COmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).
09:37 EDTAMZN, FB, AAPLActive equity options trading on open
Active equity options trading on open: AAPL FB ORCL BAC SUNE FDX FCX EXPE NFLX MU AMZN INTC TSLA
09:33 EDTAMZNeBay second week of November SSS up 0.4%, ChannelAdvisor says
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09:07 EDTCCiti completes OneMain sale
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08:46 EDTAAPL4-inch iPhone 6c may be available in middle of 2016, Cult of Mac reports
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08:44 EDTAMZN, AAPLGerman watchdog launches probe into Apple, Amazon audio books pact, Reuters says
Germany's Federal Cartel Office has initiated a probe into Apple's (AAPL) arrangement with Amazon (AMZN) for buying audiobooks, Reuters reports. The watchdog said that both companies had a long-term agreement for the purchase of audio books by Apple from Amazon via Apple's iTunes, the report says. Reference Link
08:38 EDTCSpringleaf downgraded after settlement on acquisition reached at BMO Capital
As noted earlier, BMO Capital downgraded Springleaf to Market Perform from Outperform. The firm noted that it had recommended buying the stock based on its belief that the company's acquisition of OneMain from Citi (C) had a higher probability of closing than was reflected by the shares. The firm downgraded Spingleaf after the company reached a settlement with governments that will enable the deal to close.
06:37 EDTAAPLApple's Cook: No plans to make 'converged' MacBook and iPad, Independent reports
Apple has no plans to build a "converged" MacBook and iPad, the Independent reports, citing CEO Tim Cook. "We feel strongly that customers are not really looking for a converged Mac and iPad," Cook said. "Because what that would wind up doing, or what we're worried would happen, is that neither experience would be as good as the customer wants. So we want to make the best tablet in the world and the best Mac in the world. And putting those two together would not achieve either. You'd begin to compromise in different ways." Reference Link
06:19 EDTAAPLApple News fails to impress publishers, Digiday reports
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06:05 EDTAAPLApple price target lowered to $140 from $150 at UBS
UBS analyst Steven Milunovich lowered his price target for Apple to $140 from $150 saying the stock's multiple is likely to be pressured until supply chain concerns are resolved. UBS analyst Arthur Hsieh indicates Hon Hai's Q4 iPhone assembly order forecast has been cut and should be down 10% year-over-year, Milunovich tells investors in a research note. The analyst is unclear what the order pullback means for iPhone shipments, but notes "it is not encouraging." Milunovich maintains his above-consensus December estimates for Apple, but trimmed his estimates for the March quarter. He keeps a Buy rating on Apple.
05:37 EDTCCiti appointed successor depository bank for Technip ADR program
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November 15, 2015
19:49 EDTAAPLApple CEO Cook expects 'huge' Watch sales this year, IE says
In an interview with Irish Independent published Sunday, Apple CEO Tim Cook said he expects "huge" Apple Watch sales this year. Cook added that he sees iPad sales rebounding, and said the company does not plan a combined iPad-Mac device. Reference Link
17:54 EDTFBFacebook to expand use of 'Safety Check' feature in wake of Paris attacks
Facebook announced it will be expanding its use of "Safety Check," a feature allowing users of the social network who live in endangered areas of the world to let friends and family know they are safe. Traditionally limited to natural disasters, the policy change has been made in the wake of the terrorist attacks on Paris, France, during which the company turned on Safety Check for affected users. The move spurred both praise for quick action and criticism for not using the feature during other serious events such as Thursday's tragedy in Beirut, prompting Facebook to reconsider its use of the service. "Each time we have launched the tool, we've improved it... We are learning to make the tool and policies behind it better as we go -- and because Safety Check is a relatively new feature for us, we're still understanding how it can best be used... We talked with our employees on the ground, who felt that there was still a need that we could fill. So we made the decision to try something we've never done before: activating Safety Check for something other than a natural disaster... We want this tool to be available whenever and wherever it can help," explained the company.
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