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Stock Market & Financial Investment News

News Breaks
July 22, 2014
13:18 EDTAAPL, BLK, IBMEarnings Preview: Apple reports after stock split, Beats purchase, iOS 8 launch
Apple (AAPL) is set to report third quarter earnings after the market close on Tuesday, July 22, with a conference call scheduled for 5:00 pm ET. Apple, the world's most valuable company by market capitalization, is the manufacturer of the iPhone and iPad, among other desktop and mobile computing devices. EXPECTATIONS: Analysts are looking for earnings per share of $1.23 on revenue of $37.99B, according to First Call. The consensus range for EPS is $1.14-$1.37 on revenue of $36.58B-$40.31B. In a note to investors, Piper Jaffray analyst Gene Munster said Street analysts expect year-over-year iPhone sales growth of 14% to 35M-36M units, flat iPad sales of 14M-15M units, and a Q3 gross margin of 38%. Munster added that he expects Apple to guide Q4 revenues to $39B-$41B, which is in keeping with Street estimates for about $40.4B in Q4 revenue. LAST QUARTER: Apple reported second quarter EPS of $11.62 on revenue of $45.6B, which topped estimates for $10.18 and $43.5B, respectively. Apple reported iPhones sales of 43.7M units, iPad sales of 16.35M units and Mac sales of 4.14M. Apple said it sees Q3 revenue of $36B-$38B and a gross margin of 37%-38%. Along with its Q2 report, Apple announced a seven-for-one stock split. Apple also announced that its board raised its share repurchase authorization to $90B from the $60B level announced last year and an increase to the company’s quarterly dividend of approximately 8% to $3.29 per common share. NEWS: On May 28, Apple confirmed that it agreed to buy Beats Music, which operates a streaming music service, and Beats Electronics, which makes and sells electronic music products such as headphones and speakers, for $3B. As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple. Apple said at that time that it expects the transaction to close in Q4. On June 2, Apple announced OS X Yosemite, a new version of OS X redesigned and refined with a new look, new apps and new continuity features. Apple also unveiled iOS 8, a new version of its mobile operating system with new features for users and developers. Among the features were iCloud Photo Library, which allows user to enjoy photos and videos more easily across devices, new Messages features to easily share voice, video or photos, and a new Health app. Apple noted that the software development kit, or SDK, for iOS 8 was its "biggest developer release ever," with more than 4,000 new APIs. Apple and IBM announced last week that they would collaborate to provide mobile solutions for businesses. Under the deal, the companies will develop more than 100 enterprise solutions, including native apps, for Apple's iPhone and iPads. Moreover, IBM will sell iPhone and iPads to all of its business clients around the world, the companies noted. Also last week, Apple announced that Susan Wagner, founding partner and director of BlackRock (BLK), has been elected to Apple's board and that Bill Campbell, the board’s longest-serving member, is retiring after 17 years of service. Mac Rumors reported on July 10 that Apple was said to have ordered 68M iPhone 6 devices, citing a report in Taiwan's Business Weekly. That's double the amount of phones that the tech giant ordered prior to launching the iPhone 5 in 2012, the tech blog noted. The Wall Street Journal subsequently claimed that Apple has asked its suppliers to manufacture between 70M-80M of its two upcoming large-screen iPhones by the end of the year. ANALYST OPINION: On the day after Apple's last quarterly report, CLSA upgraded its rating on the shares to Buy from Outperform. On May 9, ISI Group downgraded Apple to Buy from Strong Buy, citing valuation. On June 2, following Apple's launch event for iOS 8, Piper Jaffray said it believed parts of Apple's new operating system point towards a possible iWatch later in the year and potential connected home products in the future. Piper said at that time that Apple remains on track to deliver multiple new product categories by the end of 2014. On June 17, Societe Generale upgraded Apple to Buy from Hold. On July 14, Barclays raised its rating on Apple to Overweight from Equal Weight, citing its channel checks that indicated near-term upside to consensus estimates. The firm also believes troubles at Samsung are creating an opportunity for Apple to regain market share and raised its price target for Apple shares to $110 from $95. The same day, Morgan Stanley said its survey results suggest June quarter iPhone demand upside. The firm raised its iPhone unit estimate to 36M from 34M and increased its EPS estimate to $1.24. Morgan Stanley increased it price target on Apple to $110 per share. Yesterday, JMP Securities upgraded Apple to Outperform from Market Perform, as the firm thinks the company is poised to report higher than expected sales and gross margins over the near-term and intermediate term. JMP set a price target of $135 on the stock. In his note previewing Apple's quarter, Munster wrote that Apple's guidance for its September-end quarter should tell investors if new iPhones are launching in September or later in the year. The Piper analyst expects a typical September launch, which could give the company 5 or 12 days of sales with the new phone depending on a standard Friday launch and its timing. Munster estimated the potential 7 day swing in the timing of the new phone could mean a 3M-4M unit and about $2B difference in the guidance for Q4, citing recent weekly run-rates for iPhone sales near launch quarters. PRICE ACTION: Each Apple shareholder of record at the close of business on June 2 received six additional shares for every share held on the record date and trading began on a split-adjusted basis on June 9. Shares of Apple advanced about 8% on the first day of trade following its Q2 report. Since the first day of trade following its last quarterly report, shares of Apple are up nearly 26%. In early afternoon trading ahead of its Q3 report tonight, Apple was up fractionally to just over $94 per share.
News For AAPL;BLK;IBM From The Last 14 Days
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September 5, 2014
07:30 EDTAAPLApple iWallet would be positive for payment networks, says JPMorgan
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07:26 EDTAAPLApple strikes transaction fee discount deals, Bank Innovation says
Apple (AAPL) has reached deals with American Express (AXP), JPMorgan (JPM), Citigroup (C), Capital One (COF), and Bank of America (BAC) to lower card transaction fees for its soon to be launched payments venture, said Bank Innovations, citing an earlier report from Tom Noyes and confirmation by its own sources. Apple has both convinced them to consider its transactions as “card present,” which carries a lower discount rate, and has also managed to bump down the actual “card present” rate by 15 to 25 basis points, according to people with knowledge of the matter, the report noted. Reference Link
07:05 EDTAAPLApple shares could work going forward, says RBC Capital
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06:29 EDTAAPL$30 to be competitive price for sapphire covers in 2015, DigiTimes Research says
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06:20 EDTAAPLApple plans to warn users of attempts to hack iCloud, WSJ reports
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06:15 EDTAAPLAvago price target raised to $100 from $90 at Citigroup
Citigroup raised its price target for Avago (AVGO) shares to $100 citing increased confidence in the company's wireless content gains after meeting with management. Citi believes Avago will likely double its dollar content in Apple's (AAPL) iPhone 6 when compared to the iPhone 5S. The firm reiterates a Buy rating on Avago, calling the stock its top specialty semi pick. The stock closed yesterday up 70c to $86.09.
September 4, 2014
17:32 EDTAAPLApple can head higher, Samsung event underwhelms, Barron's says
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16:00 EDTAAPLOptions Update; September 4, 2014
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11:59 EDTAAPLApple to feature NFC in iWatch as well as iPhone, WSJ says
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11:20 EDTAAPLApple iPhone 6 seen lacking sapphire cover, AppleInsider says
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09:35 EDTAAPLActive equity options trading on open
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09:08 EDTAAPLExperts: Photo theft should highlight cloud risk, The Hill reports
The recent theft of celebrity photos from Apple's iCloud should make people realize the dangers of using the cloud to store personal information, The Hill quoted security experts as saying. Meanwhile, the website reported that the Federal Trade Commission could launch a probe in response to the incident, while Congress may also respond. Reference Link
08:47 EDTAAPLApple shares should be bought on weakness, says JMP Securities
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07:30 EDTAAPLApple has good read through from ineffective Samsung launch, says Cantor
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06:51 EDTAAPLApple's iPhone 6 subsidies unlikely to be cut in China, WantChinaTimes says
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06:40 EDTAAPLApple, others restart discussions with tech staff in hiring suit, Reuters says
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06:30 EDTAAPLIDC: Phablet shipments to pass PCs in 2014, tablets in 2015, DigiTimes reports
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06:30 EDTBLKITG launching dark pool for bonds, WSJ reports
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06:22 EDTAAPLeBay to meet PayPal estimates despite competition, says Piper Jaffray
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05:56 EDTAAPLStocks with implied volatility movement; END AAPL
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