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April 22, 2012
18:21 EDTGRPN, LNKD, AMZN, MSFT, FB, CRM, F, BAC, NFLX, GE, GLW, AAPLAmerica's portfolio managers see more gains for stocks, Barron's reports
Barron's conducted his Spring 2012 Big Money poll. America's money managers were cautiously optimistic about the stock market's prospects in the year ahead. The breakdown of the professional money managers investment outlook through June 2013 was: 4% very bullish, 51% bullish, 31% neutral, 12% bearish and 2% very bearish. That is up modestly from last fall's survey, when 52% of managers were bullish, and down modestly from the spring 2011 poll, when 59% of Big Money pros were bulls. The group expects the DJIA to rise by 6% through year end, to 13,756, and add another 3% thereafter, to arrive at 14,183 by June 2013. In round numbers that's a gain of 10% from Friday's close of 13,029.26. Forty-six percent of Big Money managers say the market is undervalued today, compared with 61% last fall. Another 41% think stocks are fairly valued, vs. 26% who felt that way in October. Among industry sectors, institutional investors are most bullish on the prospects for financials and technology shares, and most bearish on utilities and basic-materials stocks. Banks also will benefit as the economy strengthens and credit quality improves. But a better economy could be a bane for utility shares. Predictions for S&P 500 profit growth for 2012: 9.4%; for 2013: 7.6%. Predictions for oil in 2012: $103.79; for 2013: $103.86. Predictions for gold in 2012 $1,637; for 2013: $1,646. Favorite stocks of those polled for the next six to 12 months: Apple (AAPL), Bank of America (BAC), Microsoft (MSFT), Corning Glass (GLW), Ford (F), General Electric (GE), (CRM). Stocks considered overvalued by respondants: Apple, (AMZN),, LinkedIn, Netflix (NFLX), Facebook (FB)- based on the expected IPO, Bank of America, Groupon (GRPN). Reference Link
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November 16, 2015
11:35 EDTGEDeutsche Bank adds General Electric to the short-term sell list
Shares of General Electric (GE) are lower after a Deutsche Bank analyst put shares of the company on the firm's short-term sell list. WHAT'S NEW: GE could trade lower in the short term as the Synchrony Financial (SYF) split-off transaction is nearing completion, Deutsche Bank analyst John Inch said in a note to investors this morning. The analyst noted that the firm continues to believe GE "is on the right track strategically." Significant expected share repurchases should provide a buffer for share prices and provide a critical earnings per share catalyst for shares, the analyst maintained. WHAT'S NOTABLE: The analyst, who reiterated a Hold on shares, sees a deteriorating industrial economy, and questions some investors' willingness to look too far into the future to justify their bullish view of GE shares. The firm, which derived a $28 price target on shares, sees potentially rising risks to near-term fundamentals and execution risks to the company's selling off GE Capital's overseas assets. PRICE ACTION: In morning trading, GE declined 0.46% to trade near $30.14 per share as Synchrony Financial fell 1.25% to $30.14.
11:24 EDTBACClearing 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.
10:12 EDTBACBank of America reports October default rate 2.57% vs. 2.44% last month
Reports October delinquency rate 1.68% vs. 1.65% last month.
09:59 EDTFBOmega 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 EDTNFLX, AAPL, AMZN, FBActive 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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09:26 EDTGRPNGroupon closes operations in Nordic countries, Breakit reports
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09:03 EDTGEGE Healthcare Life Sciences, Emerson announce collaboration
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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 EDTAAPL, AMZNGerman 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
08:20 EDTFFord sold remaining interest in Mazda, Nikkei reports
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07:22 EDTGEGeneral Electric shares could drop in near term, says Deutsche Bank
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07:11 EDTGEGeneral Electric added to the short-term sell list at Deutsche Bank
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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.
05:30 EDTCRMStocks with implied volatility above IV index mean; ODP CRM
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