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News For AAPL;C;BAC;BIDU From The Last 14 Days
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September 23, 2015
10:44 EDTBIDUChinese Internet stock pullback a buying opportunity, CLSA says
Shares of multiple Chinese Internet companies are down again in morning trading amid more weak economic data from the Asian nation. However, research firm CLSA released a note making favorable comments and evaluations of several of the country's largest Internet players amid the economic slowdown. LITTLE IMPACT FROM SLOWDOWN: After 25 Chinese Internet and telecom companies attended CLSA's Investors' Forum, analyst Elinor Leung stated that Internet companies in China reported that they have been little affected by growing weakness in the nation's economy. Leung said that such companies have attributed their successful performance to a high savings rate, which increases consumer spending power, as well as gains in offline market share. Additionally, companies already listed may benefit from a weak A-share market in China, since smaller companies do not have access to financing and the slow market speeds up consolidation, Leung noted. RATINGS CHANGES: CLSA upgraded online travel service provider Ctrip (CTRP) to Buy from Outperform and maintained an $85 price target on its shares, while also raising its rating on Baidu (BIDU) two notches, to Buy from Underperform. Leung, who lowered Baidu's price target to $180 from $225, said the firm's top sector picks in the country are (JD), Alibaba (BABA), Tencent (TCEHY), and Ctrip. The analyst added that Tencent and Ctrip shares are the "most defensive" stocks, while JD and Alibaba could rebound even more after sentiment improves. WHAT'S NOTABLE: Last Thursday, TechInAsia reported that Baidu chief executive officer Robin Li said that the company was weighing the idea of delisting from the Nasdaq (NDAQ) and re-listing on the A-shares market in China. TechInAsia later added that a spokesperson from the Chinese internet giant "downplayed" the potential move, saying that Li's comments referred to an "unlikely hypothetical situation" in which U.S. investors don't recognize the importance of the online-to-offline market. PRICE ACTION: In morning trading, Baidu shares fell 1.4% to $134.21, Ctrip shares were flat near $66.64, shares slid 2% to $25.04 and Alibaba shares declined 2% to $60.69.
10:00 EDTBIDUOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Baidu (BIDU) upgraded to Buy from Underperform at CLSA... BioMed Realty (BMR) upgraded to Buy from Hold at Canaccord... Carnival (CCL) upgraded to Buy from Neutral at Nomura... (CTRP) upgraded to Buy from Outperform at CLSA... Daktronics (DAKT) upgraded to Buy from Hold at Needham... FMC Corporation (FMC) upgraded to Buy from Hold at Jefferies... Finish Line (FINL) upgraded to Outperform from Market Perform at FBR Capital... Intel (INTC) upgraded on potential PC, client business rebound at Bernstein... MTN Group (MTNOY) upgraded to Neutral from Sell at Goldman... Mitcham Industries (MIND) upgraded to Buy from Neutral at Sidoti... Parker Drilling (PKD) upgraded to Buy from Neutral at Sidoti... Raytheon (RTN) upgraded on international outlook at Bernstein... Regional Management (RM) upgraded to Buy from Hold at Jefferies... Vivendi (VIVHY) upgraded to Hold from Underperform at Jefferies... Wolverine World Wide (WWW) upgraded to Neutral from Sell at Citi.
09:33 EDTBIDU, AAPLActive equity options trading on open: AAPL BBRY BIDU BIIB
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09:24 EDTAAPLT-Mobile announces $5 per month offer on iPhone 6s
On the cusp of iPhone 6s and iPhone 6s Plus availability, T-Mobile unveiled a $5 a month for iPhone 6s 16GB and $9 a month for iPhone 6s Plus 16GB with JUMP! On Demand and trade-in of an iPhone 6 or iPhone 6 Plus. T-Mobile's new pricing builds on the Un-carrier's straightforward $20 a month for a new iPhone 6s 16GB with JUMP! On Demand without a trade-in.
09:18 EDTAAPL, BIDUPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
07:50 EDTBIDU, upgraded to Buy from Outperform at CLSA
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07:48 EDTBIDU, BIDUBaidu upgraded to Buy from Underperform at CLSA
After hosting an Investors Forum and Internet tour for Chinese companies, CLSA upgraded Baidu (BIDU) to Buy, stating that the recent correction in the stock is a buying opportunity. Chinese Internet companies said they have seen very little impact from the slowing economy, the firm tells investors in its sector note. The firm lowered its price target on Baidu shares to $180 from $225. CLSA also upgraded Ctrip (CTRP) to Buy this morning.
07:28 EDTAAPLApple installment plans may accentuate seasonality, says UBS
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September 22, 2015
16:36 EDTBACOn The Fly: Top stock stories for Tuesday
Stocks on Wall Street began the session sharply lower and remained that way throughout the session. There was little in the way of buying as each of the major equity indexes slid over 1% and the market internals were decidedly negative. The auto industry and biotech sector were both notably weak, after the French government called for an investigation into the entire auto industry in the wake of the Volkswagen (VLKAY) emissions scandal and Democratic Presidential hopeful Hillary Clinton presented a plan to limit the cost of drugs for consumers. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.6% to 224.5 in July, which was better than the 0.4% rise that was expected. The Richmond Fed factory index fell to -5 in September, versus the reading of 2 that was expected. In Asia, the Asian Development Bank cut its growth forecast for the region, citing a weaker outlook for China and India and a delayed recovery in the world's advanced economies. The bank now sees the Chinese economy growing 6.8% this year and 6.7% next year, down from its previous forecasts of 7.2% and 7%, respectively. COMPANY NEWS: Lloyd Blankfein, Goldman Sachs (GS) Chairman and CEO, disclosed that he was diagnosed with lymphoma. "Fortunately, my form of lymphoma is highly curable and my doctors' and my own expectation is that I will be cured," Blankfein stated in an open letter that was shared by the bank... Bank of America (BAC) shareholders approved a proposal to ratify the 2014 amendments to the company's bylaws that permitted the board of directors to determine its leadership structure, meaning Brian Moynihan can retain his dual role as both Chairman and CEO... Shares of several fertilizer companies slid after Mosaic (MOS) announced it will reduce its potash production in response to current crop nutrient market conditions, primarily related to delayed fertilizer purchases in Brazil and North America. Shares of Mosaic finished the day down 7% at $33.87 following last night's announcement, while Potash (POT) fell 6.5% and Agrium (AGU) dropped 3.5%. MAJOR MOVERS: Among the notable gainers was Ashland (ASH), which advanced $2.78, or 2.6%, to $108.50 after announcing it will proceed with a plan to separate into two independent, publicly traded companies. Also higher was Weatherford (WFT), which gained 90c, or 10.7%, to $9.31 after cancelling plans for a public share offering, after which research firms Jefferies and Iberia both reiterated Buy-equivalent ratings on the stock. Among the noteworthy losers were Office Depot (ODP) and Staples (SPLS), which declined a respective 4% and 5.8% after the New York Post quoted a source as saying the FTC may move to block their merger plan. Also lower was Groupon (GRPN), which slipped 2.2% to $4.08 after announcing plans to cut 1,100 jobs related primarily to its international operations. ConAgra (CAG), Carnival (CCL), and CarMax (KMX) fell 7%, 5.5%, and 4.65%, respectively, following their quarterly earnings reports. INDEXES: The Dow fell 179.72, or 1.09%, to 16,330.47, the Nasdaq lost 72.23, or 1.5%, to 4,756.72, and the S&P 500 dropped 24.23, or 1.23%, to 1,942.74.
16:15 EDTAAPLGoPro CEO says does not believe Apple developing rival camera, Fortune reports
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16:00 EDTBAC, C, AAPLOptions Update; September 22, 2015
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12:55 EDTAAPLGoPro CEO says 'lots of conversations' with Apple, none about takeover
Nick Goodman is speaking on CNBC.
10:36 EDTBACBank of America shareholders approve resolution on board leadership structure
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10:15 EDTBACBank of America shareholders vote to retain Brian Moynihan as both Chairman, CEO
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09:33 EDTAAPLActive equity options trading on open
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07:46 EDTAAPLFormer GM exec: Apple will lose money in car business, CNBC says
Apple (AAPL) could lose big money if it enters the electric car business, CNBC reports, citing comments from former General Motors (GM) vice chairman Bob Lutz. "There is absolutely no reason to assume that Apple is going to be financially successful in the electric car business," Lutz told CNBC. Reference Link
07:40 EDTAAPLApple may be overextending brand with car project, says UBS
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07:34 EDTBACDenver Gold Group to hold a forum
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07:29 EDTAAPLApple coverage assumed with a Buy at Goldman
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07:15 EDTBIDUCloudFlare raises $110M from consortium of Google, Microsoft, others
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