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January 2, 2014
12:14 EDTPLUG, MSO, AAPL, JCP, FIATY, AMRS, M, BACOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday following data that showed manufacturing activity slowed in China last month. The averages began the first day of the year in negative territory and have remained there throughout the morning. The early weakness has come on light volume, as market participation has been dented by the mid-week holiday and an impending snowstorm in the Northeast. ECONOMIC EVENTS: In the U.S., Markit's manufacturing Purchasing Managers Index for December rose to 55.0, beating an initial estimate of 54.4 for the month and the 54.7 reading for November. The more closely watched Institute for Supply Management PMI dipped slightly to 57.0 from a 57.3 recent-high in November, as expected. Initial jobless claims fell 2K to 339K in the week ended December 28 from a revised 341K in the prior week. Growth in construction spending in November beat expectations with a 1.0% increase, versus the forecast for a rise of 0.8%. In China, both the official and HSBC PMI figures showed factory activity slowed month-over-month in December but remained in expansionary territory. HSBC and Markit's China PMI slipped to a three-month low of 50.5 in December, while the official government PMI fell to a four-month low of 51.0. In Europe, Markit's Euro zone manufacturing PMI rose to 52.7 in December from 51.6 in November. COMPANY NEWS: Italian carmaker Fiat announced Wednesday that it had agreed to take full ownership of Chrysler via a $4.35B deal to buy out the United Automobile Workers retiree health care fundís remaining 41% stake in the smallest of Detroit's "Big Three." The deal, expected to close later this month, is the last step needed before the Italian and U.S. companies can merge to create the world's seventh-largest automaker. Fiat shares trading in New York surged 14% following the deal... Shares of media and merchandising company Martha Stewart Living Omnimedia (MSO) rose 6% after the company announced that a breach-of-contract dispute with Macy's (M) has been settled. Macy's said its settlement with Martha Stewart does not impact its outstanding claim against J.C. Penney (JCP), which remains subject to a court's decision. MAJOR MOVERS: Among the notable gainers was Plug Power (PLUG), which surged 35% after the company announced it has met its order targets for the fourth quarter with orders that totaled approximately $32M. Also higher was Bank of America (BAC), which advanced nearly 3% following the stock being upgraded to Buy from Neutral at Citigroup. Among the noteworthy losers was Amyris (AMRS), which fell over 17% after being downgraded to Underperform at Cowen. Also lower was Apple (AAPL), which slipped a bit over 1% after Well Fargo lowered its rating on the iPhone maker's shares to Market Perform from Outperform. INDEXES: Near noon, the Dow was down 116.08, or 0.7%, to 16,460.58, the Nasdaq was down 36.20, or 0.87%, to 4,140.39, and the S&P 500 was down 14.88, or 0.81%, to 1,833.48.
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April 8, 2014
09:04 EDTAAPLAmazon Instant Video says video streams on Prime Instant Video tripled y/y
Amazon Instant Videoannounced that video streams on Prime Instant Video nearly tripled year over year. According to a report from Qwilt, which tracks growth in online video usage, Amazon (AMZN) has now passed both Apple (AAPL) and Hulu (NWSA, DIS, CMCSA) in streaming video usage.
08:08 EDTAAPLCost to Apple, Google, Intel, of 'no-poaching' deal may be high, DealBook says
Some of the of the biggest names in tech, including Apple (AAPL), Google (GOOG), Intel (INTC)and Adobe (ADBE), are at the center of a class-action suit that seeks $9B as compensation for employees who contend the tech giants colluded to prevent their employees from being hired at rivals, reported The New York Times' DealBook. Reference Link
08:04 EDTAAPLiAnywhere could boost Apple earnings by over 10%, says JPMorgan
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07:47 EDTPLUGPlug Power CEO sees progression from forklifts to trucks, Bloomberg says
Plug Power CEO Andrew Marsh, in an interview with Bloomberg, said the company focused on fuel cell powered forklifts as a stable starting point to sustain the company but that lifts were "never meant to be the end-all market." Marsh wants to expand into new areas for his company's fuel cells, beginning with refrigerated delivery trucks and airport support vehicles, according to the report. Reference Link
06:24 EDTAAPLApple may develop baseband chpis for iPhones inhouse, DigiTimes says
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06:23 EDTPLUGStocks with implied volatility below IV index mean; APC PLUG
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06:20 EDTAAPLApple may release iWatch in Q3, DigiTimes reports
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06:07 EDTAAPLMicrosoft investing in 'invisible user interface' technology, WSJ reports
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April 7, 2014
19:57 EDTBACFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
16:01 EDTAAPLOptions Update; April 7, 2014
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14:06 EDTAAPLApple slips to lows of the day, levels to watch
Shares were last at $522.56, just off the session low. At current price, next support is at $517.35. Resistance is at $527.67.
09:34 EDTAAPLActive equity options trading on open
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08:45 EDTAAPLInvenSense price target raised to $27 from $20 at Pacific Crest
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07:51 EDTAAPLApple sent iTV panel samples from Korean display maker, Korea Herald says
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07:37 EDTAAPLApple considered dumping long-time ad agency, WSJ reports
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07:16 EDTAAPLRetailers muscle into competitive mobile payment market, Reuters says
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06:36 EDTAAPLApple's sales force worried about iPhone outlook, Re/code reports
Apple's (AAPL) sales force has been worried about weakness in the iPhone's market share, amid strong competition from Google's (GOOG) Android operating system, a document presented in a court case showed, Re/code reported on Friday. According to the internal Apple document, the only portions of the smartphone market showing growth were large devices costing more than $300 or devices that cost less than $300, the website stated. Reference Link
06:31 EDTPLUGStocks with implied volatility below IV index mean; APC PLUG
Stocks with implied volatility below IV index mean; Anadarko (APC) 27, Plug Power (PLUG) 143 according to iVolatility.
06:28 EDTJCPStocks with implied volatility below IV index mean; SWY JCP
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April 6, 2014
17:48 EDTAAPLGoogle set to announce Android TV, The Verge says
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