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Stock Market & Financial Investment News

News Breaks
December 19, 2012
09:37 EDTBAC, C, BIDU, AAPLActive equity option families of trading on open
Active equity option families of trading on open according to Track Data are: AAPL C BAC BIDU.
News For AAPL;C;BAC;BIDU From The Last 14 Days
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January 24, 2016
15:27 EDTAAPLHead of Apple's car project stepping down, Bloomberg says
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11:02 EDTBACStocks post weekly gain after oil rebounds
Stocks recovered late in the week to post their first weekly gain of the new year as equities continue to be correlated closely with the oil market. A plunge in oil led equities lower early in the holiday shortened week, but as oil prices rebounded to close the week out, the major averages followed suit. MACRO NEWS: In the U.S., the consumer price index fell 0.1% during December, versus expectations for a flat reading. The core reading, which excludes food and energy, showed prices rose 0.1% from the prior month, versus expectations for an increase of 0.2%. Initial jobless claims rose to 293,000 last week, topping the expectation for 278,000 first-time claims. Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast... In Asia, China's national bureau of statistics estimated that GDP growth slowed to 6.8% in the last quarter of the year, dipping from 6.9% growth in the previous quarter. China's industrial output rose 5.9% from a year earlier in December, compared with the consensus forecast for a 6% increase. Japan's Nikkei average was down early in the week, even falling into bear market territory, but rallied nearly 6% on Friday after the Nikkei Asian Review said that the Bank of Japan is taking a "serious look" at additional easing... In Europe, the European Central Bank left its key interest rates unchanged. However, at an associated press conference, ECB President Mario Draghi acknowledged downside risks were increasing again, meaning the bank may need to "review and possibly reconsider" its monetary policy stance at its next meeting in March. Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. The International Monetary Fund cut its global growth forecasts for the third time in less than a year. The IMF now estimates that the world economy will grow 3.4% this year and 3.6% next year, down from its prior forecasts of 3.6% and 3.8% growth, respectively. COMPANY NEWS: On Tuesday, Morgan Stanley (MS) advanced 1% after its earnings and revenue topped analysts' consensus forecast. Big bank peer Bank of America (BAC) slid 1% after its earnings also beat expectations but its revenue narrowly missed the consensus estimate... On Wednesday, IBM (IBM) slid nearly 5% after reporting better than expected earnings and revenue for the fourth quarter, but forecasting below-consensus profits for the new year... On Thursday, Verizon (VZ) was among the best performers on the Dow, advancing over 3% after its earnings, revenue and wireless subscriber additions all topped expectations. Conversely, fellow Dow member Travelers (TRV) slid almost 1% after releasing its own quarterly results... On Friday, American Express (AXP) sunk more than 12% after the card issuer reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors. Fellow Dow member GE (GE) slid a bit more than 1% after reporting better than expected earnings but lower than expected quarterly revenue... Schlumberger (SLB) shares gained 6% after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs... Netflix (NFLX) reported fourth quarter earnings that beat analyst estimates, powered by better than expected international subscriber growth. The numbers were met with positive commentary by several research firms, though decelerating U.S. subscriber growth was highlighted by bears as a warning sign for the company... Deutsche Bank (DB) disclosed that it expects a EUR2.1B net loss for the quarter due to a number of charges, including expected litigation costs of EUR1.2B... Xilinx (XLNX) advanced after reporting its third quarter numbers. The news may have been overshadowed, however, by a regulatory filing showing new agreements with its top executives, with several analysts highlighting that the change could signal a takeover is in the cards in the future... Alkermes (ALKS) plunged more than 44% after disclosing that two of three Phase 3 studies of its experimental depression disorder treatment did not meet their primary efficacy endpoints. INDEXES: For the four-day week, the Dow gained about 0.67% to close at 16,093.51, the S&P 500 rose about 1.4% to close at 1,906.90, and the Nasdaq increased about 2.3% to close at 4,591.18.
January 22, 2016
17:57 EDTAAPLApple looks cheap, poised to rise 50%, Barron's reports
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16:36 EDTAAPLOn The Fly: Top stock stories for Friday
Stocks opened sharply higher thanks to gains in oil prices and speculation on potential stimulus programs in Japan, China and the European Union. The averages had a midday swoon and lost about half of their gains, but the market was able to find a level where it reversed and regained upside momentum. The Nasdaq was the day's clear winner with gains of more than 2% and led the other indexes with its best gains of the week. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast. In Europe, Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. In Asia, Japan's Nikkei average rallied nearly 6%, with part of the strength attributed to a Nikkei Asian Review stating that the Bank of Japan is taking a "serious look" at additional easing. COMPANY NEWS: Shares of American Express (AXP) sunk 12.12% to $55.05 after the company reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors... Apple (AAPL) rose 5.32% to $101.42 after Piper Jaffray analyst Gene Munster recommended buying the iPhone maker's shares ahead of its earnings report next week, contending that the stock will rally over the next six months. Munster believes shares of Apple could achieve upside of over 50% from current levels by the iPhone 7 launch in September. MAJOR MOVERS: Among the notable gainers was Golar LNG (GLNG), which rallied 50.67% to $17.99 after it signed a memorandum of understanding with Schlumberger (SLB) to jointly market gas monetization solutions. Meanwhile, Schlumberger shares gained 6.12% to $65.21 after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs. Among the noteworthy losers was Cardiovascular Systems (CSII), which dropped 29.86% to $8.74 and was downgraded to Underperform at Needham following its quarterly earnings report. Also lower were shares of Tutor Perini (TPC), which fell 16.69% to $10.68 after the Construction & Engineering company cut its FY15 forecast and gave lower than expected guidance for the next fiscal year as well. INDEXES: The Dow gained 210.83, or 1.33%, to 16,093.51, the Nasdaq rose 119.12, or 2.66%, to 4,591.18, and the S&P 500 added 37.91, or 2.03%, to 1,906.90.
16:01 EDTC, AAPL, BACActionable Options for Friday January 22
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13:42 EDTAAPLApple iPhone upgrade program off to stable start, says Piper Jaffray
Piper Jaffray analyst Gene Munster noted that Citizen's Financial (CFG), Apple's (AAPL) financing partner for the iPhone upgrade program, reported that it had $220M in iPhone loans at the end of the year. That balance implies that Apple sold about 250,000 iPhones on the program since the iPhone 6S launch, said Munster, adding that he views this as a "stable start" for the program. Munster, who continues to think that program will help shrink the iPhone upgrade cycle in the U.S., keeps an Overweight rating and $179 price target on Apple shares.
13:35 EDTAAPLCitizens Financial reports $220M of iPhone loans made by end 2015
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11:27 EDTBACStocks with call strike movement; BAC BABA
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10:42 EDTAAPLStocks with call strike movement; AAPL NFLX
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09:34 EDTAAPLActive equity options trading on open
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09:30 EDTBIDUOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 8point3 Energy (CAFD) downgraded to Underweight from Equal Weight at Barclays... American Express (AXP) downgraded to Market Perform from Outperform at Keefe Bruyette... Baidu (BIDU) downgraded to Neutral from Buy at Nomura... CONSOL (CNX) downgraded to Equal Weight from Overweight at Morgan Stanley... Cardiovascular Systems (CSII) downgraded to Underperform at Needham... DDR Corp. (DDR) downgraded to Neutral from Buy at SunTrust... Energy Transfer Partners (ETP) downgraded to Perform from Outperform at Oppenheimer... Foresight Energy (FELP) downgraded to Equal Weight at Morgan Stanley... LDR Holding (LDRH) downgraded to Market Perform from Outperform at Wells Fargo... MGIC Investment (MTG) downgraded to Buy from Conviction Buy at Goldman... Mid-America Apartment (MAA) downgraded to Neutral from Buy at SunTrust... ONEOK Partners (OKS) downgraded to Perform from Outperform at Oppenheimer... ONEOK (OKE) downgraded to Perform from Outperform at Oppenheimer... Pengrowth Energy (PGH) downgraded to Sector Perform from Outperform at Scotiabank... Rocky Brands (RCKY) downgraded to Neutral from Outperform at Baird... Skechers (SKX) downgraded to Neutral from Positive at Susquehanna... TerraForm Global (GLBL) downgraded to Equal Weight from Overweight at Barclays... UniCredit (UNCFF) downgraded to Neutral from Buy at Nomura... WP Glimcher (WPG) downgraded to Neutral from Buy at SunTrust.
09:28 EDTAAPLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: 8x8, Inc. (EGHT), up 12.5%... Intuitive Surgical (ISRG), up 2.2%. ALSO HIGHER: Apple (AAPL), up 1.9% after Piper Jaffray's Gene Munster says that Apple could rally over 50% by September... Chesapeake Energy (CHK), up 6.4% after announcing that it is suspending its quarterly preferred stock dividends... NephroGenex (NRX), up 27.3% after the independent Data and Safety Monitoring Board recommendation to continue the Pyridorin study... Avon Products (AVP), up 4.4% after being upgraded to Overweight from Neutral at Piper Jaffray... Freeport-McMoRan (FCX), up 6.7% after Reuters reports that Indonesia asked the company to set aside another $530M into an escrow account for the miner to extend its permit to export copper concentrate. DOWN AFTER EARNINGS: American Express (AXP), down 6.9%... Starbucks (SBUX), down 2.6%... Cardiovascular Systems (CSII), down 32.3%... GE (GE), down marginally. ALSO LOWER: Barrick Gold (ABX), down 3.4% after giving fourth quarter and fiscal 2015 production guidance and announcing potential asset impairment charges of $1B-$1.2B.
07:29 EDTAAPLApple iPhone sales likely to come in at low 50M range in Q1, says Stifel
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07:24 EDTBIDUBaidu downgraded to Neutral from Buy at Nomura
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07:02 EDTAAPLApple volatility elevated into Q1 and outlook
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06:36 EDTAAPLApple suppliers expect drop in iPhone orders, Reuters reports
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06:33 EDTAAPLApple got $1B from Google to maintain search bar on iPhone, Bloomberg says
Google (GOOG) paid Apple (AAPL) $1B in 2014 to keep its search bar on the iPhone, Bloomberg reports, citing a transcript of court proceedings from Oracle's (ORCL) copyright suit against Google. Google has a pact with Apple that gives the iPHone maker a percentage of the revenue Google brings in through the Apple device, the report says, citing an attorney for Oracle at the hearing. Reference Link
06:05 EDTAAPLPiper's Munster says Apple could rally over 50% by September
Piper Jaffray analyst Gene Munster recommends buying shares of Apple into the company's earnings report on January 26. Over the next six months, the stock will rally on the iPhone number change cycle and experience multiple expansion, the analyst tells investors in a research note. Munster believes shares of Apple could achieve upside of over 50% from current levels by the iPhone 7 launch in September. Apple has traded at a lower multiple than today in only one month, April 2013, over the past 120 months or 10 years, Munster writes. He believes the "historic multiples" being applied to Apple right now imply that bad news is being priced in. The analyst keeps an Overweight rating on the iPhone maker with a $179 price target. Apple closed yesterday down 49c to $96.30.
05:57 EDTAAPLTaiwan smartphone sales to reach 7.5M-8M units in 2016, DigiTimes reports
Smartphone sales in Taiwan are expected to stay flat at 7.5M-8M units in 2016, reports DigiTimes. According to sources from local retail channels, the proportion of sales of high-end models will continue to fall, which will push vendors to focus on renovation and differentiation, while also strengthening their deployments in new products. Reference Link
05:57 EDTAAPLApple hires top researcher in virtual reality, Financial Times reports
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