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Stock Market & Financial Investment News

News Breaks
July 23, 2014
17:01 EDTXLNX, JNPR, AAPL, BA, MCD, ISRG, PBYIOn The Fly: Closing Wrap
Stocks began the session mixed and remained that way throughout the trading day, with the Nasdaq the leader and the Dow the laggard. The tech-heavy Nasdaq was helped by a post-earnings rise in shares of Apple (AAPL), while the blue-chip index was weighed down by Boeing's (BA) under-performance following its own quarter report. There was little movement in the averages during the day as they remained in a narrow range, but the increase in the S&P 500 did manage to push it to a new all-time closing high. After the bell, investors will receive the next wave of earnings with AT&T (T), Facebook (FB) and Qualcomm (QCOM) scheduled to report. ECONOMIC EVENTS: In the U.S., MBA's mortgage market index rose 2.4%, with a 0.3% rise in the purchase index and a 4.1% gain in the refinance index for the week ended July 18. Also, the International Monetary Fund predicted that U.S. economic growth for 2014 as a whole will be a disappointing 1.7%. However, barring unforeseen shocks, 2015 growth should accelerate to the fastest annual pace since 2005, propelled by strong consumption growth, a declining fiscal drag, a pickup in residential investment, and easy financial conditions, said the IMF. COMPANY NEWS: Shares of Apple advanced $2.47, or 2.61%, to $97.19 after reporting third quarter earnings that beat expectations. However, the iPhone maker's revenue came in a bit short of analyst expectations for its just completed quarter and its guidance for sales in the new quarter was also below expectations. Piper Jaffray analyst Gene Munster said Apple's September quarter guidance suggests an iPhone 6 launch on September 26, versus the firm's prior expectation for a September 19 launch. Piper views Apple's Q3 results as removing the last major variable ahead of the iPhone and iWatch launches later this year and reiterates an Overweight rating on the stock. Another research firm, Janney Capital, said Apple did not address rumored new products, like the iPhone 6 and iWatch, on its earnings call, but did indicate that its wider than normal revenue guidance range was due to "many moving pieces," suggesting one or two new products may be introduced, but late in the quarter... Dow component Boeing sank $3.03, or 2.34%, to $126.71 despite reporting "core" EPS that beat expectations and raising its fiscal year earnings outlook to a range above the Wall Street consensus. Boeing's revenue missed expectations, however, and it also reported its total company backlog of $440B was unchanged from the beginning of the quarter... Another Dow member, McDonald's (MCD), fell 92c, or 0.96%, to $95.35 after the company reported weaker than expected second quarter results yesterday and its stock was downgraded by at least five research firms. MAJOR MOVERS: Among the notable gainers was Puma Biotechnology (PBYI), whose stock surged $174.40, or 295.44%, to $233.43 after the company reported positive data for its breast cancer drug and an analyst at Citigroup said that the company would probably become a takeover target. Also higher was Intuitive Surgical (ISRG), which rose $69.47, or 17.71%, to $461.63 and was upgraded at both Raymond James and Stifel after the company reported better than expected Q2 results. Among the noteworthy losers was Xilinx (XLNX), which tumbled $6.89, or 14.31%, to $41.26 after the company reported lower than expected first quarter revenue and forecast that its sales could drop as much as 4% in Q2 versus Q1. After the report, analysts at William Blair, Bank of America Merrill Lynch and BMO Capital all downgraded the stock. Also lower were shares of Juniper Networks (JNPR), which fell $2.39, or 9.63%, to $22.43 and was also downgraded at Bank of America Merrill Lynch after its Q3 guidance missed expectations. INDEXES: The Dow slid 26.91, or 0.16%, to 17,086.63, the Nasdaq rose 17.68, or 0.4%, to 4,473.70, and the S&P 500 gained 3.48, or 0.18%, to 1,987.01.
News For AAPL;BA;MCD;ISRG;PBYI;XLNX;JNPR From The Last 14 Days
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October 6, 2014
14:01 EDTAAPLGT Advanced bankruptcy implies breakdown with Apple, says Raymond James
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13:25 EDTBABoeing to construct certain 777X parts at Missouri facility, Reuters says
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11:41 EDTAAPLSolar companies sink after GT Advanced declares bankruptcy
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11:25 EDTISRGIntuitive Surgical volatility increases on rally after Goldman upgrades
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11:17 EDTISRGIntuitive Surgical climbs after Goldman ups to Buy
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10:41 EDTISRGIntuitive Surgical rises, levels to watch
At time of writing the shares were up over 3.9% to $493.83, well down from the session high at $505.74 which is resistance. At current price support is at the session low at $489.32, the opening price of the day. Goldman earlier upgraded the shares to a Buy, with a $584 price target.
10:38 EDTAAPLApple's iPhone 6, 6 Plus to launch in India on October 17, Times of India says
Apple's iPhone 6 and iPhone 6 Plus will be available in India beginning Friday, October 17 through authorized resellers, the Times of India reports. Pre-orders for the devices start on October 7. The 16GB version o the iPhone 6 will be available at Rs 53,500, the 64GB version is priced at Rs 62,500 and the 128GB version of the phone will sell for Rs 71,500; the 16GB version of the iPhone 6 Plus will be available for Rs 62,500, while the 64GB version will cost Rs 71,500 and the 128GB version will sell for Rs 80,500. Reference Link
10:04 EDTMCDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded to Neutral from Overweight at Piper Jaffray... Air France-KLM (AFLYY) downgraded to Neutral from Buy at Citigroup... BAE Systems (BAESY) downgraded to Hold from Buy at Societe Generale... Buffalo Wild Wings (BWLD) downgraded to Neutral from Outperform at Wedbush... Church & Dwight (CHD) downgraded to Underweight from Equal Weight at Barclays... Colgate-Palmolive (CL) downgraded to Equal Weight from Overweight at Barclays... Deckers Outdoor (DECK) downgraded to Neutral from Overweight at Piper Jaffray... Delhaize (DEG) downgraded to Hold from Buy at Deutsche Bank... Fortinet (FTNT) downgraded to Equal Weight from Overweight at Morgan Stanley... McDonald's (MCD) downgraded to Equal Weight from Overweight at Morgan Stanley... Midcoast Energy (MEP) downgraded to Neutral from Buy at UBS... Mobileye (MBLY) downgraded to Market Perform from Outperform at Raymond James... Myers Industries (MYE) downgraded to Neutral from Buy at CL King... Nationstar (NSM) downgraded to Underperform from Market Perform at Keefe Bruyette... PTC Therapeutics (PTCT) downgraded to Market Perform at Cowen... PetSmart (PETM) downgraded to Equal Weight from Overweight at Barclays... Qlik Technologies (QLIK) downgraded to Equal Weight from Overweight at Morgan Stanley... Subsea 7 (SUBCY) downgraded to Neutral from Outperform at Exane BNP Paribas... Tekmira (TKMR) downgraded to Market Perform from Outperform at ... XL Group (XL) downgraded to Market Perform from Outperform at FBR Capital... Xoom (XOOM) downgraded to Underweight from Equal-Weight at Evercore.
10:04 EDTISRGOn The Fly: Analyst Upgrade Summary
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09:37 EDTAAPLActive equity options trading on open
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07:42 EDTAAPLSkyworks well positioned to benefit from iPhone upgrade cycle, says Canaccord
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07:34 EDTAAPLApple updates software to protect against iWorm bug, MacRumors reports
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07:16 EDTAAPLiOS 8 adoption appear slower than its predecessors, 9to5Mac reports
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07:13 EDTBABoeing confirms Alaska Airlines odrer of 10 737-900ER airplanes
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07:09 EDTMCDMcDonald's downgraded to Equal Weight from Overweight at Morgan Stanley
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07:04 EDTBABE Aerospace names Lower CFO
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06:57 EDTBAData shows Airbus falling behind Boeing on jet sales, Reuters says
Company data from Airbus (EADSY) showed that the firm sold 76 planes last month, but ended the first nine months of 2014 behind Boeing (BA) regarding the amount of aircrafts delivered and sold, according to Reuters, citing the data. The French plane manufacturer has delivered 443 planes so far this year while Boeing has delivered 528. Reference Link
06:27 EDTBAAlaska Air purchases 10 additional Boeing 737-900ER aircraft
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06:25 EDTAAPLiPhone 6 chip orders to remain high in 1Q15, DigiTimes reports
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05:22 EDTISRGIntuitive Surgical upgraded to Buy from Neutral at Goldman
Goldman Sachs upgraded Intuitive Surgical (ISRG) to Buy citing an improving hospital spending environment and long-term uptake of surgery procedures in the U.S. The firm raised its price target for shares to $584 from $466. Shares of the robotic surgery maker closed Friday at $475.21.
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