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Stock Market & Financial Investment News

News For AAPL;C;BAC;BIDU From The Last 14 Days
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July 27, 2015
19:54 EDTAAPLApple Music reaches 10M subscribers in four weeks, HITS says
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19:03 EDTBIDUOn The Fly: After Hours Movers
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17:36 EDTBIDUOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory, with weakness attributed to the Chinese market suffering its worst one day loss in over eight years. The U.S. indexes remained in the negatives throughout the day as traders prepare for one of the heaviest weeks for this earnings season. ECONOMIC EVENTS: In the U.S., durable goods orders advanced 3.4% in June versus expectations for a 3.2% increase. Excluding transportation items, the core reading was up 0.8% against estimates for a 0.5% gain. In China, the Shanghai composite index fell 8.5% and the Shenzhen composite dropped 7%, with the moves generally attributed to concerns over growth and fears that the government may pull its market support. Note that Dow Jones quoted the country's top securities regulator this morning as saying China plans to increase stock purchases by the state. COMPANY NEWS: Shares of Teva (TEVA) jumped $10.15, or 16.41%, to $72.07 after the generic drugmaker dropped its pursuit of Mylan (MYL), opting instead to acquire Allergan's (AGN) global generic pharmaceuticals business for $40.5B. Allergan shares rose 6.09% for the session, and Mylan fell 14.51% to $56.37 while reiterating its commitment to pursue Perrigo (PRGO), whose shares gained 3.81% to $193.60. MAJOR MOVERS: Among the notable gainers was Wabtec (WAB), which rose $6.59, or 7.21%, to $97.93 after agreeing to buy Faiveley Transport for roughly $1.8B, noting that it expects EPS accretion in 2016. In other M&A news, Magnetek (MAG) finished the session up $17.27, or 53.55%, to $49.52 after Columbus McKinnon (CMCO) agreed to acquire the company for $50 per share, while Beacon Roofing Supply (BECN) jumped $2.62, or 8.71%%, to $32.70 after agreeing to buy Roofing Supply Group at a transaction value of about $1.1B. Also higher were shares of Xueda Education (XUE), which surged 50.63% after Xiamen Insight Investment announced a deal to purchase the company for $5.50 per American Depository Share. Xueda's positive move came in stark contrast to numerous Chinese stocks traded in New York, with Baidu (BIDU) slipping 4.16% and Alibaba (BABA) losing 2.01% after China's Shanghai composite index plunged overnight. Also lower was McGraw Hill Financial (MHFI), declining $6.01, or 5.69%, to $99.59 after agreeing to acquire SNL Financial for roughly $2.225B in cash. Additionally, GrubHub (GRUB) lost 8.37% to $30.99 following a downgrade from Cowen citing competitive concerns and market saturation. INDEXES: The Dow fell 127.94, or 0.73%, to 17,440.59, the Nasdaq lost 48.85, or 0.96%, to 5,039.78, and the S&P 500 declined 12.01, or 0.58%, to 2,067.64.
16:40 EDTBIDUBaidu down 5.9% after reporting Q2 results, Q3 guidance
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16:39 EDTBIDUBaidu reports Q2 EPS ex-items $1.81, consensus $1.88
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16:38 EDTBIDUBaidu reports June MAUs up 24% to 629M
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16:36 EDTBIDUBaidu sees Q3 revenue $2.93B-$3B, consensus $3.03B
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16:00 EDTAAPL, BIDUOptions Update; July 27, 2015
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15:44 EDTBIDUBaidu July weekly 195 straddle priced for 9% movement into Q2
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15:03 EDTBIDUNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Baidu (BIDU), consensus $10.58... Avalonbay Communities (AVB), consensus $1.92... Hartford Financial (HIG), consensus 77c... Southwestern Energy (SWN), consensus 6c... PartnerRe (PRE), consensus $2.35... Allison Transmission (ALSN), consensus 34c... Swift Transportation (SWFT), consensus 37c.
13:36 EDTBIDUBaidu technical commentary ahead of results
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13:16 EDTAAPLADT rises after Citi downplays 'smart home' concerns
Shares of ADT (ADT) are heading higher in afternoon trading following an upgrade from Citi, within which the research firm said traditional home security firms have plenty of traction as self-installed, self-monitored security solutions from the likes of Apple (AAPL) and Google's (GOOG) Nest are slow to be adopted by homeowners. WHAT'S NEW: Citi's Jason Bazinet issued a research note on the home security sector, upgrading ADT to Buy from Neutral while slightly lowering his price target to $39 from $40. Bazinet notes that the sector is expanding into "smart home" technology powered by companies like Apple and Google's Nest. Despite this, the analyst contends that consumer data shows continued preference for the traditional approach in the form of professionally installed and professionally monitored services from ADT, Monitronics, Vivint, AT&T (T) and Comcast (CMCSA, CMCSK). WHAT'S NOTABLE: Though tech firms and venture capitalists seem drawn towards the concept of self-installed, self-monitored "smart homes," consumers appear to be sticking with the professionals, says Citi. Security systems using Apple HomeKit and Google's Nest products are seeing "limited" adoption, and firms like ADT -- equipped with call centers and installation specialists -- appear ready to "hold their own," with recent weakness in ADT shares called an "opportunity" by Bazinet. The analyst conceded that professional security providers will see their market share drop to 15% from a current 20%, but Bazinet set a 2035 date for that shift, leaving plenty of near-term opportunity for traditional players. PRICE ACTION: After a 25% drop since mid-April, shares of ADT are up about 1.4% to trade near $32 this afternoon.
12:21 EDTBIDUBaidu July weekly volatility increases into Q2 and outlook
Baidu July weekly call option implied volatility is at 99, August is at 49, September is at 39; compared to its 52-week range of 23 to 47, suggesting large near term price movement into the expected release of Q2 results today after the market close.
12:03 EDTBIDUOn The Fly: Top stock stories at midday
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11:22 EDTBIDUAnalyst says Chinese Internet firms seeing 'healthy' consumer demand
Chinese Internet stocks are among the many classes of Chinese stocks traded in New York that are weak this morning, though research firm Pacific Crest wrote in a note to investors today that after traveling to China and conducting checks, the firm is more upbeat on e-commerce company 58.com (WUBA), online travel agency Qunar (QUNR) and online video company Youku Tudou (YOKU). WHAT'S NEW: After speaking with Chinese advertising and e-commerce companies, as well as with Chinese companies that are exposed to online services, Pacific Crest analyst Cheng Cheng believes that consumer demand for Internet products and services is "stable and healthy." The decline in the stocks of Chinese Internet companies has created buying opportunities, Cheng believes. He identified 58.com and Qunar as his favorite picks in the sector heading into second quarter results. Both stocks have declined about 20% over the last 1-2 months, but the core businesses of both companies are accelerating, the analyst stated. Specifically, most of 58.com's end markets "are showing strong or at least healthy underlying demand," while Qunar is poised to benefit from an acceleration of demand for its hotel rooms, the analyst believes. Meanwhile, Youku is benefiting from strong demand from advertisers, wrote Cheng, who kept Overweight ratings on 58.com and Qunar and maintained a Sector Weight rating on Youku. WHAT'S NOTABLE: Cheng added that he remains "positively biased" towards Baidu (BIDU) and Alibaba (BABA). Baidu is slated to report its second quarter results tonight. He kept Overweight ratings on both stocks. PRICE ACTION: In late morning trading, 58.com slid 4.6% to $62, Qunar retreated 5.7% to $40.65 and Youku fell 4.7% to $19.20 amid broad weakness in Chinese stocks trading in New York after China's home Shanghai composite index fell 8.5% overnight.
10:07 EDTAAPLApple falls, levels to watch
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09:36 EDTBIDU, AAPLActive equity options trading on open
Active equity options trading on open: AAPL NFLX INTC MU VZ BIDU AMBA
08:33 EDTBACBank of America increases environmental initiative from $50B to $125B
Bank of America said it has pledged to increase the company’s current environmental business initiative from $50B to $125B in low-carbon business by 2025 through lending, investing, capital raising, advisory services and developing financing solutions for clients around the world.
08:30 EDTAAPLNew Apple ipad mini rumored to be 'miniature iPad Air 2,' AppleInsider says
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07:49 EDTAAPLApple said to talk with BMW about electric car project, MacRumors reports
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