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Stock Market & Financial Investment News

News Breaks
December 5, 2012
16:29 EDTP, TOT, MFRM, CIE, AVAV, PXP, MMR, C, FCX, AAPL, BACOn The Fly: Closing Wrap
Stocks on Wall Street were mixed on the day as the Dow and S&P 500 both finished in positive territory while the Nasdaq finished lower. Financial bellwethers Citigroup (C) and Bank of America (BAC) both gained over 5% on the session, while shares of Apple (AAPL) lost $37.05, or 6.43%, to close at $538.79, weighing on the Nasdaq... ECONOMIC EVENTS: In the U.S., ADP said employers added 118,000 jobs last month, which was below analysts' forecasts, but Superstorm Sandy was estimated to have cut the total by 86,000 jobs. The Labor Department revised its estimate for Q3 productivity growth up to an annual rate of 2.9% from its initial estimate of 1.9%. Factory orders rose 0.8% in October, versus expectations for them to be flat. The ISM non-manufacturing PMI rose to 54.7, versus expectations for it to slip to 53.5... COMPANY NEWS: Citigroup announced a sweeping workforce reduction that will see 11,000 jobs, or 4% of its employees, cut. Citi sees pre-tax charges of around $1B in Q4 due to the restructuring but expects the cuts to save $900M next year and slightly more after that. Citi shares rose $2.17, or 6.33%, to $36.46... Apple's steady, day-long slide was attributed to a number factors, including a DigiTimes report of slowing demand for iPhone parts, a decision by a clearing firm to increase its margin requirement on purchases of Apple's stock and a bearish technical development on its chart... Freeport McMoRan (FCX) announced a huge deal, agreeing to repurchase McMoRan Exploration (MMR) for $14.75 per share in cash and to acquire Plains Exploration (PXP) for $6.9B in cash and stock. Following the news, which was broken last night by Financial Times, shares of Freeport plunged $6.12, or 15.99%, to $32.16, while McMoRan Exploration surged $7.36, or 87.00%, to $15.82 and shares of Plains gained $8.45, or 23.44%, to $44.50... MAJOR MOVERS: Among the notable gainers were shares of Cobalt International Energy (CIE), up $4.43, or 18.63%, to $28.21 after announcing a Gulf of Mexico discovery in partnership with Total (TOT). Also higher were shares of AeroVironment (AVAV), up $2.68, or 13.23%, to $22.94 after reporting better-than-expected earnings after yesterday's close and receiving an upgrade to Neutral from Underperform at Sterne Agree. Among the noteworthy losers were shares Mattress Firm (MFRM), down $6.65, or 21.93%, to $23.67, and Pandora (P), down $1.65, or 17.46%, to $7.80 following disappointing earnings and guidance... INDICES: The Dow was up 82.71, or 0.64%, to 13,034.49; the Nasdaq was down 22.99, or 0.77%, to 2,973.70; and the S&P 500 was up 2.23, or 0.16%, to 1,409.28.
News For AAPL;C;BAC;FCX;MMR;PXP;CIE;TOT;AVAV;MFRM;P From The Last 14 Days
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November 14, 2014
11:05 EDTPPandora jumps following CEO share purchase
Shares of Pandora (P) are rallying after the company's CEO disclosed that he had bought 25,000 shares of the company's stock. WHAT'S NEW: In a regulatory filing last night, Pandora CEO Brian McAndrews disclosed that he had bought 25,000 of the company's shares on Wenesday at a price of $18.58 per share. McAndrews now owns over 475,000 shares of the stock, according to the filing. ANALYST REACTION: In a note to investors, Stifel analyst Scott Devitt wrote that McAndrews purchased the stock using his own personal funds. According to the analyst, it is quite rare for CEOs to take such an action. McAndrews' purchase of the stock was "a strong vote of confidence" in the company, Devitt contended. He kept a $29 price target and Buy rating on the shares. WHAT'S NOTABLE: Pandora announced that it would hold a conference call next Tuesday to discuss proceedings before the Copyright Royalty Board. The board will determine the company's new royalty structure by December 2015, Devitt wrote. PRICE ACTION: In mid-morning trading, Pandora climbed $2.30, or 12.5%, to $20.75.
10:49 EDTAAPLReport: iPhone 6 outselling iPhone 6 Plus 3-to-1 margin, Apple Insider says
Apple's iPhone 7 lineup is mostly driven by the 4.7-inch model, accounting for 68% of all iPhone sales, while the iPhone 6 Plus took between 23%-24%, reports Apple Insider. Citing a report from Consumer Intelligence Research Partners, the new iPhones represented 91% of total iPhone sales compared to the iPhone 5s and 5c accounting for 84% of total iPhone sales a year ago. Reference Link
09:38 EDTAAPL, PActive equity options trading
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08:18 EDTPPandora CEO share purchases a significant vote of confidence, says Stifel
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07:52 EDTAAPLIntegrated Device to benefit from wireless charging adoption, says Craig-Hallum
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07:05 EDTAAPLApple told FTC health data will be protected, Reuters reports
The U.S. Federal Trade Commission has asked Apple to prevent sensitive health data that will be collected by its devices from being used without users' consent, according to Reuters, which cited two unnamed sources. The tech giant has promised the FTC that it will not sell the data to third parties or allow developers to do so, the news service stated. Reference Link
06:54 EDTAAPLU.S.warns on vulnerability in Apple's iOS, Reuters reports
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06:16 EDTAAPLEU says Starbucks tax deal in Netherlands may be illegal state aid, WSJ says
The European Union said the tax deal struck by Starbucks (SBUX) in the Netherlands amounts to illegal state aid, reports the Wall Street Journal. European Commission regulators said it reached a preliminary view that the tax deal violated guidelines produced by the Organization for Economic Cooperation and Development. It said the tax deal "tolerates questionable adjustments which allow Starbucks Manufacturing BV to lower the resulting corporate income tax basis in the Netherlands." The EU is also investigating tax arrangements of Apple (AAPL) in Ireland and Amazon (AMZN) and Fiat S.p.A. (FIATY) in Luxembourg. Reference Link
November 13, 2014
18:47 EDTPPandora to host conference call
Conference call to discuss the current Web IV proceeding before the Copyright Royalty Board will be held on November 18 at 5 pm.Webcast Link
18:40 EDTPOn The Fly: After Hours Movers
UP AFTER EARNINGS: TubeMogul (TUBE), up 12.4%... Weibo (WB), up 3.2%... Nordstrom (JWN), up 3.1%. ALSO HIGHER: Geron (GERN), up 30.7% after announcing a global strategic collaboration with Janssen Biotech... Baker Hughes (BHI), up 16.2% following reports that the company is in talks to be acquired by Halliburton (HAL)... Halliburton is up 1.4%... Pandora (P), up 4% after announcing a conference call to discuss Web IV proceeding... AmerisourceBergen (ABC), up 1.1% after being awarded a $4.06B government contract. DOWN AFTER EARNINGS: Retrophin (RTRX), down 6.6%... Phoenix New Media (FENG), down 8.4%... Voxeljet AG (VJET), down 8.6%... Intrexon (XON), down 1.1%... Youku Tudou (YOKU), down 5.7%... Applied Materials (AMAT), down 2.5%. ALSO LOWER: Puma Biotechnology (PBYI), down 6.9% following PB272 Phase II Trial results... EnLink Midstream (ENLK), down 4.8% after filing to sell 10.5M common units representing limited partners.
18:26 EDTPPandora announces conference call to discuss Web IV proceeding
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16:03 EDTAAPLOptions Update; November 13, 2014
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13:28 EDTAAPLBlackBerry hits 52-week high after unveiling partnerships
Shares of BlackBerry (BBRY) hit a new 52-week high after the company announced three new partnership deals. The company is slated to hold its analyst day today, starting at 3:30 PM ET. WHAT'S NEW: BlackBerry announced that it would partner with Samsung to provide a security solution for the South Korean company's mobile devices that utilize Google's (GOOG) Android operating system. Under the deal, BlackBerry’s BES12, an Enterprise Mobility Management system, or EMM that was launched today, will be integrated with some of Samgung's Galaxy smartphones and tablets. BES 12 "securely manages devices from all of the major enterprise mobile platforms" and "will help organizations securely connect employees with each other and with the corporate information and machines” they need, BlackBerry stated. Also today, Blackberry announced that it would connect its EMM solutions to Salesforce's (CRM) top customer relationship management platform. "This agreement will allow Salesforce and BlackBerry joint customers to run their businesses from their phone while complying with specific industry regulations," said Vivek Kundra, a Salesforce Executive Vice President in a statement. "BlackBerry has an excellent reputation in security and networks, and when matched with the Salesforce Customer Success Platform, public sector organizations can use their mobile devices to connect with customers in a whole new way," added Kundra. Finally, BlackBerry announced that Brightstar would distribute BES 12. BlackBerry described Brightstar as "the world's largest wireless distribution company and leader in services for the wireless industry." WHAT'S NOTABLE: BES12 is expected to compete with Apple (AAPL) in the enterprise space. Apple earlier this year announced that it was partnering with IBM (IBM) in an effort to sell more products to corporate customers. PRICE ACTION: In mid-afternoon trading, BlackBerry jumped 6% to $11.95. Earlier today the shares set a new 52-week high of $12.05.
11:13 EDTAAPLApple hits 52-week high after Bernstein says margins could climb
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09:40 EDTAAPLActive equity options trading
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08:01 EDTAAPLApple price target raised to $120 from $110 at Bernstein
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08:01 EDTAAPLCalpian says deploys Apple Pay for merchants
Calpian, Inc. (CLPI) has successfully enabled Apple Pay (AAPL) for its merchant customers as they respond to growing consumer interest in the new mobile payment service.
06:39 EDTAAPLApple's rumored iPad Pro delayed to 2Q15, AppleInsider reports
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06:23 EDTAAPLChipmakers in Apple Watch supply chain to start production, DigiTimes reports
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06:07 EDTAAPLApple paying little in iTunes taxes outside North America, AFR reports
According to a report from The Australian Financial Review, which cites an investigation led by the International Consortium of Investigative Journalists, more than two-thirds of the money Apple’s iTunes makes outside North America goes through the group’s Luxembourg holding company where it is not taxable. Apple has been widely criticized for its tax practices in Europe. Reference Link
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