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June 11, 2014
09:37 EDTMU, TWTR, TSLA, C, MNKD, AMZN, NFLX, OREX, FB, AAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN TSLA FB MNKD TWTR OREX C MU NFLX
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November 16, 2015
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.
10:00 EDTMNKDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abengoa (ABGB) downgraded to Hold from Buy at Canaccord... Best Buy (BBY) downgraded to Sector Perform from Outperform at RBC Capital... CDTi (CDTI) downgraded to Neutral from Buy at Roth Capital... CNH Industrial (CNHI) downgraded to Underweight from Neutral at JPMorgan... Clayton Williams (CWEI) downgraded to Sell from Neutral at Roth Capital... Disney (DIS) downgraded to Neutral from Buy at Guggenheim... Endo (ENDP) downgraded to Neutral from Buy at Mizuho... Five Below (FIVE) downgraded to Hold from Buy at Deutsche Bank... Garrison Capital (GARS) downgraded to Market Perform from Outperform at William Blair... General Growth (GGP) downgraded to Hold from Buy at Evercore ISI... Helmerich & Payne (HP) downgraded to Hold from Buy at Evercore ISI... Kosmos (KOS) downgraded on investor sentiment, costs at RBC Capital... MannKind (MNKD) downgraded to Neutral from Buy at Griffen Securities... Media General (MEG) downgraded to Hold from Buy at Evercore ISI... Progressive (PGR) downgraded to Sell from Neutral at Goldman... Sabra Health Care (SBRA) downgraded on challenges, investor sentiment at Stifel... Simon Property (SPG) downgraded to Hold from Buy at Evercore ISI... Springleaf (LEAF) downgraded after settlement on acquisition reached at BMO Capital... Steiner Leisure (STNR) downgraded to Market Perform from Outperform at William Blair... Taubman Centers (TCO) downgraded to Hold from Buy at Evercore ISI... TerraForm Power (TERP) downgraded to Neutral from Buy at UBS... UniCredit (UNCFF) downgraded to Neutral from Buy at Citi... Violin Memory (VMEM) downgraded to Hold from Buy at Maxim... Vipshop (VIPS) downgraded to Equal Weight from Overweight at Morgan Stanley... Wolseley (WOSYY) downgraded to Hold from Buy at Deutsche Bank.
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 EDTMU, NFLX, FB, AAPL, TSLA, AMZNActive 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
08:39 EDTMNKDMannKind downgraded to Neutral from Buy at Griffen Securities
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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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06:19 EDTNFLXTV programmers negotiate promotional deals with Netflix, WSJ says
Television programmers are negotiating with Netflix (NFLX) over promotional content and branding opportunities, the Wall Street Journal reports. For example, Disney's (DIS) ABC negotiated a deal where Netflix subscribers watching the ABC program "How to Get Away with Murder" will first watch a four second shot of star Viola Davis alongside an ABC logo right before watching the show, the report says. Reference Link
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.
05:57 EDTMUDRAMeXchange: Q3 Mobile DRAM sales rise 18%, DigiTimes says
Mobile DRAM revenue in Q3 was up 18% sequentially to $4.55B, reports DigiTimes. According to DRAMeXchange, SK Hynix made the largest contribution to the growth with revenues surging 30.5% to $1.2B while Samsung remained the largest DRAM supplier with revenue increasing 16.5% to $2.58B. Samsung continued to hold a more than 50% share of the global mobile DRAM market in the quarter. Reference Link
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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