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Stock Market & Financial Investment News

News For AAPL;C;BAC;GOOG;GS From The Last 14 Days
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April 24, 2015
18:27 EDTAAPLTD Bank Group announces Apple Watch app
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16:31 EDTGOOGStocks finish week higher following strong tech earnings
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16:19 EDTGOOGOn The Fly: Top stock stories for Friday
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16:00 EDTGOOG, AAPLOptions Update; April 24, 2015
iPath S&P 500 VIX Short-Term Futures down 21c to 20.89. Option volume leaders: AAPL AMZN PBR RIG GOOG TWTR TSLA MSFT ALTR according to Track Data.
14:50 EDTAAPLOn The Fly: Weekly technical notes ahead of Apple earnings
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13:45 EDTAAPLGrubHub launches Seamless App for Apple Watch
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12:53 EDTGOOGLuxottica says company working on new versions of Google Glass, Engadget says
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12:49 EDTGOOGOn The Fly: Top stock stories at midday
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12:33 EDTAAPLOptions with increasing implied volatility
Options with increasing implied volatility: MEMP GPRO TWTR AAPL
09:37 EDTAAPL, GOOGActive equity options trading on open
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09:20 EDTGOOGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: eHealth (EHTH), up 24.7%... Starbucks (SBUX), up 4.2%... Microsoft (MSFT), up 5.2%... Google (GOOG, GOOGL), up 3.2% and up 3.7%, respectively... Amazon (AMZN), up 12% after reporting quarterly results and announcing shopping app for Apple Watch... Gigamon (GIMO), up 16.5%... Juniper Networks (JNPR), up 6.6%. ALSO HIGHER: Molycorp (MCP), up 10.2% following a Bloomberg report that China's export tax decision may boost rare earth demand... Mattel (MAT), up 4.4% after being upgraded to Buy from Neutral at Goldman... Innocoll (INNL), up 13.1% after 3.3M share Secondary priced at $9.00... Cytosorbents (CTSO), up 9.7% after CEO comments on CytoSorb in letter to shareholders. DOWN AFTER EARNINGS: Biogen (BIIB), down 4.7%... Altera (ALTR), down 1.7%... Pandora (P), down 4%... ResMed (RMD), down 8.7%... Xerox (XRX), down 4.7%... HomeAway (AWAY), down 3.6% after reporting quarterly results and departure of officers. ALSO LOWER: Ubiquiti (UBNT), down 14.4% following CFO resignation and preliminary third quarter results... 3D Systems (DDD), down 10.4% after reporting preliminary first quarter results... StemCells (STEM), down 23.2% after filing to sell common stock... Aerie Pharmaceuticals (AERI), down 54.7% after Rhopressa Phase 3 trial did not meet primary endpoint.
08:58 EDTGOOGGoogle price target raised to $672 from $632 at FBR Capital
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07:56 EDTAAPLApple Q2 results likely to beat expectations, says Bernstein
Bernstein expects Apple to report stronger than expected Q2 results, and says that the company could raise its dividend by 20%+ and buy back an additional $80B+ of its shares through 2017. The firm thinks Apple Watch could increase its gross margins by one percentage point. It raised its price target on the name to $142 from $135 and keeps an Outperform rating on the shares.
07:49 EDTGOOGGoogle results 'on balance positive,' says Bernstein
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07:35 EDTGOOGGoogle price target raised to $670 from $625 at Deutsche Bank
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07:31 EDTAAPLDeutsche sees Apple sales growth slowing from here
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07:21 EDTAAPLApple Watch teardown casts doubt on rumored upgradability, iFixit reports
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07:15 EDTAAPLApple job postings point to improvements in Siri, speech technology, AI reports
Apple is said to be working on improvements to its Siri speech recognition technology, Apple Insider reports. The company on Thursday opened posted several job listing relating to Siri, speech technology and language recognition, and is seeking a platform development manager and developer tools engineer for Siri, the publication says. Additionally, the company is seeking two pattern recognition engineers and software engineers in its Natural Languages Group. Reference Link
07:05 EDTGOOGGoogle reported healthy Q1 results, says Cantor
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06:55 EDTAAPLApple May weekly volatility elevated into Q2 and outlook
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06:22 EDTGOOGGoogle price target raised to $650 from $600 JPMorgan
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06:16 EDTGOOGEU considers new regulator to oversee internet companies, WSJ reports
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06:00 EDTGOOGHillspire acquires minority stake in D.E. Shaw group from Lehman Brothers
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05:27 EDTAAPLExpedia app now available on Apple watch
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05:24 EDTAAPLAmazon announces shopping app for Apple Watch
The Amazon (AMZN) shopping app will be available on Apple Watch (APPL) in Canada, China, France, Germany, Japan, U.S. and U.K. Designed for the on-the-go customer, the shopping app offers a tailored Amazon experience, offering voice search and quick tap features including 1-Click purchase and save to Wish List.
April 23, 2015
19:29 EDTGOOGGoogle sees increased viewership, ad views at YouTube
On its Q1 earnings call, Google CFO Patrick Pichette said, "Over the past year we've seen YouTube viewership climb dramatically, both in established markets but also due to rapid expansion in emerging markets. And quality improvements in TrueView ads mean that more users are, in fact, choosing not to skip them, increasing the overall ad view. So, this means that there is much higher volume of TrueView ads being seen, which has been a significant driver of year-over-year growth in numbers that you seeing inside clicks... Viewership in YouTube videos and TrueView ads are growing significantly, and YouTube's contribution to our advertising revenue continues to grow at a strong rate year-over-year." During the Q&A portion of the call, Pichette added, "In the last quarter, we've just seen a real acceleration at YouTube and that's why we thought it was important because we saw this change, from the fundamental kind of strong performance of YouTube." In after-hours trading, Google is up more than 3% to $564.00.
19:16 EDTGOOGOn The Fly: After Hours Movers
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16:09 EDTGOOGGoogle shares up $3.52 to $551.42 after Q1 results
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16:06 EDTGOOGGoogle says Q1 revenue $795M higher at constant exchange rates
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16:05 EDTGOOGGoogle reports Q1 websites up 14% revenue $11.93B
Reports Q1 Google Network Members' websites revenue up 1% to $3.58B. Total advertising revenues were up 11% to $15.51B.
16:03 EDTGOOGGoogle reports Q1 Aggregate paid clicks up 13%
Reports Q1 Paid clicks on Google websites up 25% vs. last year, Paid clicks on Google Network Members' websites down 12%, Aggregate cost-per-click down 7%, Cost-per-click on Google websites down 13% and Cost-per-click on Google Network Members' websites up 2%.
16:01 EDTGOOGGoogle reports Q1 EPS $6.57, consensus $6.60
Reports Q1 revenue $17.26B, consensus $17.5B.
16:01 EDTC, AAPLOptions Update; April 23, 2015
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15:00 EDTGOOGNotable companies reporting after market close
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14:59 EDTGOOGGoogle April weekly 547 straddle priced for 4% movement into Q1
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14:20 EDTGOOGEarnings Watch: Google up close to 8.5% since last earnings report
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13:05 EDTGSGoldman Sachs Asset Management to acquire Pacific Global solutions business
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12:35 EDTAAPLStocks with call strike movement; CSX AAPL
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11:52 EDTAAPLApple lists several job openings for speech & language teams, Apple Insider says
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11:32 EDTCCiti says capital and liquidity remain 'strong'
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11:27 EDTAAPLApple could announce new iPod touch this year, Apple Insider reports
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09:43 EDTAAPLApple not targeting May 8 for Apple Watch second wave launch, 9to5Mac says
Sources told 9to5Mac that Apple is not currently targeting May 8 for its launch of pre-ordering for the Apple Watch in a second wave on countries, refuting a report yesterday from Italy's iSpazio that said that was the date being considered for the next wave of launches. Reference Link
09:35 EDTAAPL, BACActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL FB PBR TWTR AA COST TSLA AMZN TXN BAC
09:09 EDTGOOGCheetah Mobile obtains worlwide Google Play distribution rights for Tap Titans
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09:07 EDTCCiti to hold a conference call
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09:00 EDTCCiti anjnounces new FHA multifamily platform
Citi has obtained the Federal Housing Administration Multifamily Accelerated Processing Mortgagee designation by the U.S. Department of Housing and Urban Development, offering Citi Community Capital the opportunity to make available to its clients the fullest range of financing for all multifamily product types, including mixed-income and mixed-use development.
07:11 EDTGOOGGoogle April weekly volatility elevated into Q1 and outlook
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07:03 EDTBAC, GSCapital Link to hold a forum
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06:19 EDTAAPLSome Apple Watch orders prepared for shipment ahead of schedule, 9to5Mac says
Though many Apple Watch customers were hit with months-long shipping delays, Apple has started preparing some orders for shipment ahead of schedule, 9to5Mac reports. A spokesperson says "We’re happy to be updating many customers today with the news that their Apple Watch will arrive sooner than expected. Our team is working to fill orders as quickly as possible based on the available supply and the order in which they were received." Reference Link
05:53 EDTBACBank of America appeals $1.3B toxic home loan penalty, Financial Times reports
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April 22, 2015
17:23 EDTAAPLNokia approaches Apple, Amazon, Facebook in sale of maps unit, Bloomberg says
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16:00 EDTC, AAPLOptions Update; April 22, 2015
iPath S&P 500 VIX Short-Term Futures down 22c to 21.30. Option volume leaders: AAPL TSLA TWTR MCD FB PBR AMZN KMI MYL C according to Track Data.
15:12 EDTAAPLAOL debuts three apps for Apple Watch
AOL (AOL) announced the debut of three apps built for the Apple Watch, including Pip, the newly redesigned The Huffington Post app, and the AOL app. Each of them will be available on April 24, the company stated.
13:38 EDTGOOGGoogle to offer basic wireless service for $20 per month
Google says, "We offer one simple plan at one price with 24/7 support. Here's how it works: for $20 a month you get all the basics, and then it's a flat $10 per GB for cellular data while in the U.S. and abroad. 1GB is $10/month, 2GB is $20/month, 3GB is $30/month, and so on. Since it's hard to predict your data usage, you'll get credit for the full value of your unused data. Let's say you go with 3GB for $30 and only use 1.4GB one month. You'll get $16 back, so you only pay for what you use."
13:37 EDTGOOGGoogle introduces Project Fi, to partner with Sprint, T-Mobile
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10:31 EDTAAPLUBS U.S. IT Hardware analyst holds an analyst/industry conference call
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09:54 EDTAAPLApple Watch pre-orders may start May 8 in next wave of countries, MacRumors says
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09:17 EDTGOOGAmazon.com upgraded to Buy, price target raised to $450 at Monness Crespi
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08:47 EDTBACSouth State to acquire 13 branches from Bank of America
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08:10 EDTGOOGWix.com to benefit from Google algorithm change, says FBR Capital
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07:20 EDTAAPLApple survey continues to show strong iPhone demand, says UBS
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07:08 EDTAAPLPriceline Apple launches Apple Watch travel applications
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06:16 EDTAAPLApple retail chief discusses Apple Watch, MacBook in video, BI reports
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06:06 EDTGOOGGoogle, Facebook seek to reach billions of people without Web access, WSJ says
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06:01 EDTGOOGGoogle could launch wireless service today, WSJ reports
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April 21, 2015
18:35 EDTAAPLChinese court rules in favor of Apple in Siri patent case, Economic Times says
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16:00 EDTAAPL, COptions Update; April 21, 2015
iPath S&P 500 VIX Short-Term Futures down 1c to 21.53 Option volume leaders: AAPL TSLA TWTR GILD FB PBR AMZN C KMI KO VZ MCD according to Track Data.
13:55 EDTBACBank of America Merrill Lynch to be fined GBP10M, Sky News says
The Financial Conduct Authority will fine Merrill Lynch International, a Bank of America Merrill Lynch subsidiary, GBP10M on Wednesday for incorrectly reporting certain financial transactions, reports Sky News, citing sources. http://news.sky.com/story/1469564/bank-of-america-braced-for-10m-fca-fine
13:40 EDTAAPLEarnings Watch: AT&T sees Q1 charge of approximately $130M
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12:42 EDTGOOGGoogle April weekly volatility increases into Q1 and outlook
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11:00 EDTAAPLStocks with call strike movement; AMZN AAPL
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10:34 EDTAAPLCorning sapphire glass rumored to be in new Apple iPhone, PatentlyApple says
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09:37 EDTAAPLActive equity options trading on open
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08:20 EDTAAPLOrbitz app now customized for Apple Watch
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06:18 EDTAAPLCitigroup unenthused with IBM mix, still prefers Apple
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05:58 EDTAAPLReport: AU Optronics to supply Apple with iPhone panels, DigiTimes says
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05:58 EDTGOOGEU's Vestager says has 'no grudge' against Google, Re/code reports
EU Competition Commissioner Margrethe Vestager, who is leading an antitrust lawsuit against Google, says she is not holding a grudge against the search giant, Re/code reports, citing comments made during a speech at the NYU School of Law. She commented that "We have made a statement of objection lining out our preliminary view on a certain conduct... This, as we see it, is a pretty straightforward case of consumer domination." Reference Link
April 20, 2015
19:32 EDTCU.S. pressures JPMorgan, Citi, others to settle forex case by mid-May, FT says
The U.S. Department of Justice is pressuring JPMorgan (JPM), Barclays (BCS), Citi (C), Royal Bank of Scotland (RBS), and UBS (UBS) to reach a settlement by mid-May regarding alleged foreign exchange manipulation, reports the Financial Times, citing people familiar with the situation. The Financial Times notes that the settlement could see some of the banks paying roughly $1B. Sources say that the Department is demanding guilty pleas from "most" of the banks. Reference Link
16:01 EDTC, AAPLOptions Update; April 20, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 21.52. Option volume leaders: AAPL VZ PBR TWTR TSLA TWTR NFLX MCP FB AMZN AA C according to Track Data.
09:36 EDTAAPLActive equity options trading on open
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08:42 EDTAAPLApple May weekly volatility elevated into Q2 and outlook
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08:21 EDTGOOGTesla almost sold to Google while near bankruptcy in 2013, Bloomberg says
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08:18 EDTAAPLApple Q2 EPS estimate raised above consensus at Pacific Crest
Pacific Crest raised its Q2 EPS estimate for Apple to $2.17 from $2.15, putting it above the consensus estimate of $2.14. The firm raised its Q2 estimate based on an increase in its iPhone unit outlook, and raised its fiscal 2015 and fiscal 2016 EPS estimates for the company based on higher iPhone and Apple Watch estimates. Nonetheless the firm expects the company to face growth challenges in fiscal 2016, and it keeps a Sector Weight rating on the shares.
08:12 EDTGOOGGoogle April weekly volatility elevated into Q1 and outlook
Google April weekly call option implied volatility is at 38, May is at 26, June is at 24; compared to its 26-week average of 24 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 23.
08:04 EDTGOOGTesla CEO held talks to sell company to Google in 2013, Bloomberg reports
Bloomberg cites a new book due out May 19, entitled "Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future."
07:30 EDTAAPLApple Q2 results likely to beat expectations, says Wells Fargo
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07:24 EDTGOOGGoogle concerns bring buying opportunity, says Deutsche Bank
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06:41 EDTGOOGGoogle EU regulatory worries don't warrant a sell off, WSJ says
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06:18 EDTAAPLAnalyst sees Apple Watch as company's 'most profitable product ever,' BI reports
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05:44 EDTAAPLApple cuts orders to upstream partners to reduce risks, DigiTimes reports
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05:22 EDTAAPLBooking.com launches first booking travel app for Apple Watch
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April 19, 2015
14:17 EDTAAPLSony stock may rise 20% over next year, Barron's says
Shares of Sony (SNE) are likely to jump 20% during the next year, Barron's contends in its "Follow Up" column. Barron's notes that the company is rumored to supply camera chips for Apple's (AAPL) iPhone 7, and Sony could also look to exit its TV and mobile phone businesses. Reference Link
April 17, 2015
16:31 EDTC, GS, GOOGStocks end week lower amid earnings reports, fear about Greece, China
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16:11 EDTC, AAPLOptions Update; April 17, 2015
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15:39 EDTCCostco deal with Visa, Citi has 'near zero' acceptance costs, Bloomberg says
Costco’s (COST) acceptance costs will be near zero under the terms of its new deal with Visa (V) and Citigroup (C), compared to the roughly 0.6% of each transaction it currently pays to incumbent card partner American Express (AXP), reported Bloomberg, citing people familiar with the deal. Reference Link
11:20 EDTGOOGGoogle deal possible after Yahoo amends search pact with Microsoft, analyst says
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10:34 EDTAAPLApple seeks to launch Apple Pay in Canada in November, WSJ reports
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10:25 EDTAAPLApple seeks to launch Apple Pay in Canada in November, DJ reports
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10:00 EDTAAPLOn The Fly: Analyst Initiation Summary
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10:00 EDTGSOn The Fly: Analyst Downgrade Summary
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09:36 EDTAAPLActive equity options trading on open
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08:09 EDTGSGoldman results strong but jury still out on fixed income, says Oppenheimer
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08:04 EDTCCiti reported 'solid beat,' says Oppenheimer
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07:58 EDTGOOGGoogle April weekly volatility elevated into Q1 and outlook
Google April weekly call option implied volatility is at 35, May is at 26, June is at 22; compared to its 26-week average of 24 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 23.
07:31 EDTC, BAC, GSU.K. postpones debt buyback due to Bloomberg terminal crash, WSJ reports
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07:15 EDTGOOGYahoo search deal with Google could add $10/share, says Jefferies
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06:38 EDTAAPLApple initiated with an Outperform at FBR Capital
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06:33 EDTAAPLChina suspends new bank technology policy, NY Times reports
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06:33 EDTBACSources: Halliburton hires BofA, Deutsche Bank to sell assets, Reuters reports
According to sources, Reuters reports that Bank of America (BAC) and Deutsche Bank (DB) have been hired by Halliburton (HAL) to sell two assets that could be valued at up to $5B. Bank of America will work to sell some of Halliburton's Sperry Drilling business, including logging-while-drigging, directional drilling and measuring-while-drilling, while Deutsche Bank is mandated to sell Halliburton's drill bits businesses. Halliburton is seeking to divest some assets to ease regulators' antitrust concerns in its $35B merger deal with Baker Hughes (BHI). Reference Link
06:26 EDTGOOGGoogle looking to improve how users view mobile search results
Google announced in a blog post that it is rolling out a fix to improve how people view mobile search results. The company said it is updating the algorithms that display URLs in the search results "to better reflect the names of websites, using the real-world name of the site instead of the domain name, and the URL structure of the sites in a breadcrumbs-like format." Reference Link
06:13 EDTGSGoldman Sachs downgraded to Market Perform from Outperform at Keefe Bruyette
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06:04 EDTGOOGEconomists warn of uphill battle in case against Google, Financial Times says
Economists believe that the European Commission will have an uphill battle in proving that Google's practices have harmed consumers, reports the Financial Times. Although the antitrust case is enjoying broad political support across Europe and among Google's rivals, economics professors have said “proving a company has engaged in exclusionary practices is not an easy task. This is an area of competition where it is difficult to adopt simple rules and where each case is often a special one.” Reference Link
April 16, 2015
19:37 EDTGOOGGoogle plans $1B investment in Iowa data center, Des Moines Register says
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17:28 EDTGSGoldman Sachs looks like a buy, Barron's says
Goldman Sachs looks like a buy, after reporting quarterly results, as concerns seem to be overdone, Barron's contends in its 'Barron's Take' column. Reference Link
16:21 EDTGS, COn The Fly: Top stock stories for Thursday
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16:02 EDTC, BAC, AAPLOptions Update; April 16, 2015
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15:08 EDTGSGoldman Sachs price target raised to $250 from $229 at Rafferty Capital
13:53 EDTAAPLApple cooperation with antitrust monitor declines, Reuters says
A court appointed monitor notified a judge that Apple's cooperation with him has "sharply declined," says Reuters. The monitor, who was assigned to Apple after the company was found liable for conspiring to raise e-book prices, said that Apple objected to providing information and "inappropriately" attempted to limit his activities, added Reuters. Reference Link
13:36 EDTAAPLApple watches won't be available in-store in May, Telegraph reports
Apple Watches will not be available to buy in-store in May, according to a memo from Apple retail chief Angela Ahrendts, The Telegraph reports. Instead, customers will be asked to order online to "get customers the model they want earlier and faster," according to the memo. Reference Link
12:37 EDTC, GSOn The Fly: Top stock stories at midday
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12:26 EDTAAPLYahoo announces four apps for Apple Watch
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12:25 EDTBACBank of America settles FX-rigging lawsuit, Reuters reports
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12:01 EDTCCiti says has started buying back stock
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12:00 EDTAAPLApple partners with Conservation Fund to preserve 36K acres, Buzzfeed says
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11:48 EDTCCiti says not assuming interest rate increases in outlook for 2015
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11:40 EDTCCiti says 'extremely bullish' on prospects in Mexico
Says "feels good" about changes made to operations, leadership in Mexico.
11:31 EDTCCiti says bank has not yet received formal feedback on CCAR
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11:26 EDTCCiti sees Citi Holdings staying above breakeven on FY basis
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11:25 EDTCCiti says sees credit costs increasing in 2015
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11:24 EDTCCiti sees Q2 NIM down 2-3bps, similar to trend in prior years
Says environment remains "very challenging." Sees need to continue simplifying company. Says has signed deals to divest $30B of assets from holdings. Sees having 30,000 employees in compliance by year end. Says has 600 people dedicated to resolution planning. Sees lower NCL rates later in the year. Sees consumer efficiency ratio at 52% or below for FY15. Says U.S. branches averaging $218M in deposits. Expects to achieve total ICG efficiency ratio closer to midpoint of 53%-57% target range for FY15. Sees Q2 NIM down 2-3bps, similar to trend in prior years. Says 2H results will depend on timing of divestitures, including OneMain, but says 2H NIM could be down 7-8bps. Says FY financial targets include Citicorp efficiency ratio in mid 50s. Sees "modest" revenue growth at Citicorp in 2015. Comments made on the Q1 earnings conference call. Citi shares are up 2.28% to $54.42 in late-morning trading.
10:33 EDTGSGoldman Sachs CFO says may not buy back all stock approved to purchase
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10:05 EDTGSGoldman Sachs CFO says ROE aspirations higher than 14.7%
10:00 EDTAAPLOn The Fly: Analyst Initiation Summary
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09:59 EDTCCiti says 'committed' to delivering 2015 financial targets
Says committed to delivering 2015 financial targets, including continued expense and balance sheet discipline, re-allocating resources to invest in core franchise. Says also focused on gaining wallet share, winding down non-core assets, continuing to utilize deferred tax assets. Comments from slides that will be presented on the Q1 earnings conference call.
09:46 EDTGSGoldman Sachs CFO says firm supplementary leverage ratio 5.3% in Q1
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09:44 EDTGSGoldman Sachs slips after earnings, levels to watch
The shares are fractionally lower following results, with shares testing the lower bound of the bullish price channel at the $200 area. Resistance is at $201.10. Support is at $198.21.
09:41 EDTGSGoldman Sachs CFO says expectation for slow, steady U.S. growth remains intact
Schwartz says ECB easing program helped confidence in Europe. Goldman Sachs CFO Harvey Schwartz is speaking on the company's Q1 earnings call.
09:36 EDTAAPL, CActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX NEE AMT WFM C PM INTC AA MCD
09:18 EDTGSOn The Fly: Pre-market Movers
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09:07 EDTAAPLMaxim starts Apple at Hold on non-China iPhone slowdown
Maxim analyst Nehal Chokshi initiated shares of Apple with a Hold rating and $144 price target. After surveying over 800 international consumers, Chokshi thinks iPhone demand in non-Greater China markets will likely be down 16% year-over-year in 2015. The analyst points out, however, that the survey suggests iPhone demand should continue at a 100% rate for 2015 relative to 2014, a data point he calls "significantly positive." Chokshi views Apple as a "very attractive long-term investment," but thinks mature market smartphone lifecycles will trump the strong share gains in China this year.
08:43 EDTAAPLSunPower's China joint venture with Apple to provide solar power in China
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08:37 EDTBACBank of America outlook remains positive, says RBC Capital
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08:07 EDTCCiti rises 2% to $54.20 after Q1 earnings beat expectations
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08:04 EDTCCiti reports book value per share of $66.79 at end Q1
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08:03 EDTCCorbat says Citi had 'strong quarter overall'
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08:02 EDTCCiti reports Q1 common equity tier 1 capital ratio of 11.0%
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08:00 EDTCCiti reports Q1 EPS ex-CVA/DVA $1.52, consensus $1.39
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07:55 EDTBACBank of America Q1 results 'simply dreadful,' says Oppenheimer
Oppenheimer believes that Bank of America $1B in "retirement-eligible incentive costs" and $0.5B of "market-related adjustments" to net interest income are not one-time items. The firm says that the bank's revenue fell significantly, while its core operating expenses have not followed suit. However, the firm still finds the stock's valuation attractive and recommends buying the shares.
07:44 EDTAAPLApple calls audible to award 30% of A9 chip orders to TSM, Apple Insider says
Apple (AAPL) has made a "last minute decision" to recruit TSMC (TSM) for 30% of A9 chip orders for its next iPhone after GlobalFoundries continued to experience poor yield rates on production of the next-generation CPU, reports AppleInsider. According to a note from KGI Securities Ming-Chi Kuo, Globalfoundries A9 chip yield rate was at about 30% iyeld rate, well below the "basic requirement" of 50%. Kuo adds that Apple is concerned that Samsung's (SSNLF) chipmaking business may not be able to supply enough of its 14-nanometer design. Reference Link
07:42 EDTGSGoldman Sachs reports investment management revenue flat to $1.58M
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07:41 EDTGSGoldman Sachs reports Q1 institutional client services revenue up 23% to $5.46B
Net revenues in Institutional Client Services were $5.46B for Q1, 23% higher than 1Q14 and 73% higher than 4Q14. Net revenues in Fixed Income, Currency and Commodities Client Execution were $3.13B for Q1, 10% higher than 1Q14, due to significantly higher net revenues in currencies and interest rate products, partially offset by significantly lower net revenues in credit products, commodities and mortgages. Net revenues in Equities were $2.33B for Q1, 46% higher than the 1Q14, due to significantly higher net revenues in equities client execution, reflecting strong results in both derivatives and cash products across all major regions.
07:38 EDTGSGoldman Sachs 'encouraged' about prospects for continued growth
“We are pleased with our results this quarter and the fact that all of our major businesses contributed,” said Lloyd C. Blankfein, Chairman and CEO. “Given more normalized markets and higher levels of client activity, we remain encouraged about the prospects for continued growth.”
07:38 EDTGSGoldman Sachs reports Q1 investment banking revenue up 7% to 1.91B
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07:38 EDTGSGoldman Sachs reports Common Equity Tier 1 ratio 11.4% at March 31
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07:37 EDTGSGoldman Sachs increases quarterly dividend to 65c per share
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07:36 EDTGSGoldman Sachs reports Q1 EPS $5.94, consensus $4.26
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07:19 EDTGS, COptions expected to be active: NFLX SNDK UNH PNRA C GS SLB
06:43 EDTAAPLAnalyst: Apple Watch pre-orders exceed 2.3M, MacRumors reports
KGI Securities analyst Ming-Chi Kuo estimates that Apple's debut smartwatch, Apple Watch, has sold over 2.3M units since pre-orders opened, MacRumors reports. The analyst notes that Apple is targeting production of 2M-3M Apple Watch units per month, and that apple could reach 2.5M units produced in June without potential bottlenecks to production. Reference Link
06:25 EDTAAPLPoll: Six percent of Americans intend to buy Apple Watch, Reuters says
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06:11 EDTAAPLApple initiated with a Hold at Maxim
Target $144.
06:08 EDTGOOGMicrosoft counceled EC in Google antitrust probe, NY Post says
Microsoft (MSFT) "complained a lot" and "definitely counseled" the European Commission in its antitrust investigation of Google (GOOG), reports the New York Post, citing a source with direct knowledge of the situation. Reference Link
05:50 EDTAAPLApple to equip next iPhone next iPhone with Force touch tech, DigiTimes says
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April 15, 2015
16:27 EDTGOOGOn The Fly: Top stock stories for Wednesday
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16:01 EDTC, AAPL, BACOptions Update; April 15, 2015
iPath S&P 500 VIX Short-Term Futures down 49c to 21.90. Option volume leaders: AAPL NFLX C PBR KMI RIG MCP TWTR GILD BAC according to Track Data.
15:59 EDTGSVIX methodology for Goldman Sachs down 1.8% to 20.75 into Q1
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15:57 EDTGSGoldman Sachs April 200 straddle priced for 2.1% movement into Q1
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15:05 EDTAAPLEarnings Watch: SanDisk to report Q1 results after lowering revenue guidance
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14:58 EDTCEarnings Watch: Analysts more bullish on Citi after asset sales, CCAR approval
Citigroup (C), one of the largest banks in the U.S., is expected to report first quarter earnings before the open on Thursday, April 16, with a conference call scheduled for 11:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.39 on revenue of $19.82B. The consensus range is $1.32-$1.45 for EPS on revenue of $18.43B-$20.36B, according to First Call. On its last earnings conference call, Citi said it was committed to its 2015 targets and to returning capital to shareholders. Citi is targeting a 2015 consumer banking efficiency ratio of 49%-52%, compared to a ratio of 56% in 2014 and a pro forma 2014 ratio of 55%. LAST QUARTER: Citigroup reported fourth quarter EPS of 6c, versus analysts' consensus forecast of 11c. The company’s revenue came in below expectations at 17.81B. Citi CEO Michael Corbat said at the time: "While the overall results for 2014 fell short of our expectations, we did make significant progress on our top priorities... Although we made some difficult decisions over the course of the year, I believe they allowed us to put our franchise in a position to have a successful 2015." NEWS: On March 2, Costco (COST) announced it has entered into a new co-brand credit card program agreement with Citi and an acceptance and co-brand incentive agreement with Visa (V). Under the terms of the agreements, Citi would become the exclusive issuer of Costco's co-brand credit cards and Visa will replace American Express as the credit card network for Costco in the U.S. and Puerto Rico beginning April 1, 2016. The next day, Citi announced that it has reached a definitive agreement to sell OneMain Financial Holdings to Springleaf (LEAF) for a purchase price of $4.25B. The deal is expected to close in the third quarter of 2015, subject to approvals and other customary conditions. The sale, along with retirement of related funding, are expected to result in a net addition to earnings before income taxes of approximately $1B, the bank stated. On March 5, the Federal Reserve said that Citi had passed its Dodd-Frank stress test, as did all 31 banks that were examined. About a week later, the central bank announced it had not objected to the capital plans of 28 bank holding companies participating in the Comprehensive Capital Analysis and Review, or CCAR. After the Fed advised Citi that it has no objection to the planned capital actions requested by the bank, Citi said it will increase its quarterly common stock dividend to 5c per share from 1c per share. Citi also announced plans for a common stock repurchase program of up to $7.8B during the five quarters starting in the Q2. At the end of March, Citi announced that it has reached a definitive agreement to sell 100% of the shares of Citi Cards Japan, the exclusive issuer of Diners Club cards in Japan, to Sumitomo Mitsui Trust Bank. Also in March, Citi announced that it has sold 396M common shares in Akbank T.A.S. through an equity offering representing its entire 9.9% equity interest in the company. Total proceeds from the transaction are expected to be approximately $1.15B at then current exchange rates. The financial terms of those two transactions are not material to Citi, the bank noted. STREET RESEARCH: On February 10, Deutsche Bank upgraded Citi to Buy from Hold and raised its price target for shares to $54 from $51. Deutsche said then that it believed the decline in the stock since the firm's December 4 downgrade had priced in some of the earnings risk, but added the FY15 consensus estimates for Citi still looked too high. On March 17, Deutsche Bank further raised its price target for Citi shares to $56 from $54, citing positive news flow around the sale of OneMain, its credit card deal with Costco and the Fed's stress test results. On March 3, JPMorgan upgraded Citigroup to Overweight, saying the Costco co-branding credit card deal will add to revenue growth and return on assets. Further, the firm said it expects the banking giant to achieve its operating efficiency targets this year. It upped its price target for shares to $58 from $54. The next day, Morgan Stanley said it believes Citi's sale of OneMain and its new Costco partnership imply, when taken together, that the bank is substituting OneMain's higher risk assets with the Costco portfolio, which has a lower yield, risk and RWA. Such a trade will be viewed favorably by regulators, the firm said. Morgan Stanley, which has an Overweight rating on Citi, said then it sees potential upside to its $60 price target on Citi shares if capital freed from the OneMain sale is returned to shareholders. PRICE ACTION: In afternoon trading ahead of tomorrow morning's report, Citi rose over 1% to $53.31. Over the last three months, Citi shares are up nearly 13%.
14:42 EDTGSEarnings Watch: Goldman to report amid optimism on fixed income, trading
Goldman Sachs (GS) is scheduled to report first quarter earnings before the open on Wednesday, April 16, with a conference call scheduled for 9:30 am ET. Goldman is an investment bank. EXPECTATIONS: Analysts are looking for earnings per share of $4.26 on revenue of $9.35B, according to First Call. The consensus range for EPS is $4.11-$4.44 on revenue of $8.72B-$9.65B. LAST QUARTER: Goldman reported higher than expected fourth quarter profits and revenue. However, the revenue of its investment banking and institutional client services businesses fell 16% and 8% respectively versus the same period a year earlier, while the revenue of its fixed income business tumbled 19% year-over-year. In March, Goldman passed the Fed's stress test, and it raised its quarterly dividend by 5c to 65c per share. In April, Reuters reported that Global investment banking fees dropped 8% to $20B in the first quarter, representing the weakest start to the year for the fees since 2012, according to Reuters. Deal activity in Europe, Asia Pacific, and Japan was weak during the quarter, the news service stated. On a positive note for Goldman investors, The Wall Street Journal on April 2 quoted NAB Research and Deutsche Bank as saying that volatility in the currency market had risen 18% from January to mid-March, which should boost profitability for the fixed-income trading businesses at major banks. PEER RESULTS: Perhaps boding well for Goldman, JPMorgan reported on Monday that its Q1 gross investment banking revenue from its commercial banking clients had soared 68%, STREET RESEARCH: On April 7, research firm Susquehanna raised its Q1 EPS estimate for Goldman to $4.24 from $3.60, citing improved trading and fixed income forecasts. The firm increased its price target on the shares to $198 from $190 and set a Neutral rating on the shares. PRICE ACTION: Goldman's stock has jumped almost 13% over the last three months and almost 30% over the last year.
14:06 EDTCCiti reports March credit loss 2.50% vs. 2.55% last month
Reports March delinquency rate 1.58% vs. 1.61% last month.
12:38 EDTGOOGAngie's List jumps as analysts weigh in on what's next after CEO resignation
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12:30 EDTGOOGOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session in positive territory for the fifth time in the past six sessions. The move came amid lower than expected manufacturing data and industrial production figures in the U.S. and a report on Chinese GDP growth that matched expectations. Although the averages remain higher near midday, the market is well off its highs as investors await the release of the Fed’s Beige Book report. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing report had a reading of -1.19, versus expectations for a 7.17 reading. Industrial production fell 0.6% in March, versus expectations for a 0.3% decline. Capacity utilization came in at 78.4% during the month, versus the 78.6% that was forecast. NAHB's homebuilder confidence index climbed to 56 in April, versus expectations for a reading of 55. The Federal Reserve is scheduled to release its Beige Book at 2 pm EDT this afternoon. In China, the nation's GDP grew at a 7.0% rate in Q1, which met expectations but was the lowest level of quarterly growth since 2009. A number of March data releases came in below expectations in China, including reports on industrial production, retail sales and fixed investments. In Europe, the European Central Bank kept interest rates unchanged. COMPANY NEWS: The European Commission announced it has opened a formal investigation of whether Google’s (GOOG, GOOGL) conduct in relation to its Android mobile operating system as well as applications and services for smartphones and tablets has breached EU antitrust rules. The Commission also sent a Statement of objections to Google alleging the company has abused its dominant position in the markets for general internet search services in the European Economic Area by favoring its own comparison shopping product in its general search results pages. For its part, Google's SVP of Google Search Amit Singhal said the company "respectfully but strongly" disagrees with the need to issue a statement of objections and looks forward to making its case... After Intel (INTC) reported results that were in-line with its preannouncement and estimated that its 2015 revenue would be roughly flat year-over-year, shares rose 4.5%. However, analysts disagreed on the company's ability to meet its revised outlook, with Wedbush upgrading the stock to Outperform from Neutral, but Citi saying that the company's guidance was too bullish and keeping a Neutral rating on the shares. MAJOR MOVERS: Among the notable gainers was Celsion (CLSN), which gained 20% after the company announced interim data from its ongoing open-label Phase 2 DIGNITY Trial of ThermoDox in recurrent chest wall breast cancer. Also higher was gunmaker Smith & Wesson (SWHC), which gained 13% after raising its guidance, citing orders throughout its fiscal fourth quarter that have been stronger than originally anticipated. Among the noteworthy losers was Alcatel-Lucent (ALU), which dropped 19% after agreeing to merge with Nokia (NOK) in an all-share transaction that values Alcatel-Lucent at EUR 15.6B on a fully diluted basis. Also lower were shares of Precision Castparts (PCP), which fell 3% after the company issued fourth quarter guidance, said it was making headcount reductions and the stock was downgraded at DA Davidson. INDEXES: Near midday, the Dow was up 56.39, or 0.31%, to 18,093.09, the Nasdaq was up 24.52, or 0.49%, to 5,001.81, and the S&P 500 was up 9.80, or 0.47%, to 2,105.64.
10:48 EDTGOOGGoogle 'strongly' disagrees with EU Statement of Objections
In a blog post from earlier, Google's SVP of Google Search Amit Singhal said, in part: "We’ve seen similar allegations of harm from competitors in other areas. And the European Commission today confirmed that it is sending Google a Statement of Objections,SO, regarding the display and ranking of shopping results...While Google may be the most used search engine, people can now find and access information in numerous different ways -- and allegations of harm, for consumers and competitors, have proved to be wide of the mark. Any economist would say that you typically do not see a ton of innovation, new entrants or investment in sectors where competition is stagnating -- or dominated by one player. Yet that is exactly what’s happening in our world. Zalando, the German shopping site, went public in 2014 in one of Europe’s biggest-ever tech IPOs. Companies like Facebook, Pinterest and Amazon have been investing in their own search services and search engines like Quixey, DuckDuckGo and Qwant have attracted new funding. We’re seeing innovation in voice search and the rise of search assistants -- with even more to come. It’s why we respectfully but strongly disagree with the need to issue a Statement of Objections and look forward to making our case over the weeks ahead." Reference Link
10:27 EDTGOOGEU unlikely to force structural changes to Google Search, says Baird
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10:13 EDTBACBank of America reports March default rate 2.94% vs. 2.98% last month
Reports March delinquency rate 1.80% vs. 1.86% last month.
10:06 EDTAAPLSamsung creates team to work exclusively on Apple devices, Bloomberg reports
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09:35 EDTBAC, AAPLActive equity options trading on open
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08:56 EDTAAPLVIX methodology for Apple elevated at 35.58
VIX methodology for Apple (VXAPL) at 35.58 compared to its 50-day moving average of 28.57.
08:25 EDTBACBofA expects to remain opportunistic to meet future funding needs
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08:22 EDTBACBank of America sees added costs of about $100M in 2015 due to CCAR resubmission
As previously reported, the Fed issued a conditional non-objection to Bank of America’s capital plan upon which the firm is required to resubmit its plan and address certain weaknesses identified in the capital planning process, with resubmission of the capital plan to occur by September 30. The bank said in slides for its Q1 earnings call that Terry Laughlin has been assigned to lead the CCAR resubmission as well as a longer-term comprehensive evaluation and enhancement of the overall process. BofA noted it has engaged independent third parties to review work streams addressing identified areas to strengthen and implement “best-in-class” processes and controls and that it expects additional associated costs to be approximately $100M in 2015.
08:17 EDTCSAP's financial integration platform selected by Citi and Asian Paints
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08:01 EDTAAPLApple services profit contribution rising, says UBS
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07:08 EDTBACBank of America reports Book Value per Share up 4% to $21.66
Estimated common equity Tier 1 ratio under Basel 3, Standardized Approach, Fully Phased-in, was 10.3%; Advanced Approaches 10.1%. Reports estimated Supplementary Leverage Ratios above 2018 required minimums, with bank holding company at 6.3% and primary bank at 7.1%. Reports global excess liquidity sources of $478B, up $51Bf rom 1Q14 and reports time-to-required funding at 37 months. Reports tangible book value per share increased 7% from year ago to $14.79 per share and book value per share increased 4% from year ago to $21.66 per share.
07:05 EDTBACBank of America reports Q1 provision for credit losses $765M
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07:04 EDTBACBank of America CEO says seeing 'encouraging' signs in consumer, client activity
“Continuing the trend from last quarter, we saw core loan and deposit growth, higher mortgage originations, and increased wealth management client balances," said CEO Brian Moynihan. “We retained a top position in investment banking as our team generated the highest advisory fees since the Merrill Lynch merger. We see continued encouraging signs in customer and client activity, with consumer spending increasing and utilization of credit by our commercial customers rising. This should bode well for the near-term economic outlook. At a time of continued low interest rates, we had good expense control as we focus on responsible growth with a balanced platform to create long-term value for customers and shareholders.” "We continued to strengthen an already strong and liquid balance sheet this quarter," said CFO Bruce Thompson. "We improved our liquidity, accreted capital and tightly managed expenses in a challenging interest rate environment. Meanwhile, credit quality remained strong, reflecting both the economic environment and our risk underwriting."
07:02 EDTBACBank of America reports Q1 EPS with items 27c, consensus 29c
Reports Q1 revenue $21.2B, consensus $21.5B. Results Include $1.0B, or 6c per share, in annual retirement-eligible incentive costs and $0.5B, or 3c per share, in charges to revenue for market-related net interest income adjustments.
06:35 EDTAAPLSamsung says Galaxy S6 demand much stronger than expected, Reuters reports
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06:31 EDTGOOGGoogle's wireless service reportedly called 'Project Fi,' Android Police says
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06:24 EDTGOOGEU sends statement of objections to Google on comparison shopping service
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06:23 EDTGOOGEU opens formal investigation against Google regarding Android mobile OS
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06:18 EDTAAPL, GOOGApple, Google, others doubling down on European operations, WSJ reports
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06:14 EDTAAPLSamsung may be borrowing from Apple profit margin strategy, WSJ reports
Samsung (SSNLF) could be borrowing from Apple's (AAPL) profit margin strategy by charging customers $100 more for each incremental gain in storage capacity, reports the Wall Street Journal. IHS senior director of research and analytics Andrew Rassweiler said it costs Samsung makes an extra $87 in profit each time it sells a 64-gigabyte Galaxy S6 and an extra $160 each time it sells a 128-gigabye device. Rassweiler adds that Apple has been structuring its iPhone offerings like this for years to improve margins. Reference Link
06:11 EDTBAC, GS, CRegulators seek to end 'too big to fail' firms, WSJ reports
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05:55 EDTAAPLSmart wearaable device vendors avoid Apple Watch competition, DigiTimes says
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April 14, 2015
20:00 EDTGOOGGoogle says EU likely to open formal investigation into Android, Re/code says
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18:41 EDTCTarget close to $20M settlement with MasterCard over data breach, WSJ says
According to people familiar with the negotiations, Target (TGT) is approaching a settlement with MasterCard (MA) to reimburse financial institutions roughly $20M for costs they incurred from the retailer’s massive data breach in 2013, The Wall Street Journal reports. Target is negotiating a separate settlement with Visa (V), according to sources, WSJ added. Reference Link
18:27 EDTGOOGGoogle in talks to allow advertisers to target pre-existing customers, WSJ says
Google is in talks with advertisers to gain access to their customer information, allowing Google to target ads to pre-existing customers of a given company, reports the Wall Street Journal, citing people familiar with the matter. The new ads may be launched later this year or in early 2016, said the sources. Reference Link
17:45 EDTAAPLApple acquires Israel-based camera-technology company LinX, WSJ says
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16:00 EDTC, AAPLOptions Update; April 14, 2015
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15:45 EDTGOOGEU decides to charge Google with antitrust violations, WSJ says
European antitrust head Margrethe Vestager has decided to file formal antitrust charges against Google, reports the Wall Street Journal, citing a person familiar with the matter. Sources said the decision will be announced Wednesday and was made after consulting with European Commission President Jean-Claude Juncker. The Journal notes that fines may theoretically exceed $6B.Reference Link
15:34 EDTBACNotable companies reporting before tomorrow's open
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15:34 EDTBACBank of America April 16 straddle priced for 3.4% movement into Q1
15:27 EDTGOOGEU decides to file formal charges against Google, Dow Jones says
14:38 EDTBACEarnings Watch: Bank of America to report after mixed reviews from Fed
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14:36 EDTBACBank of America technical comments ahead of earnings
The stock is trading up to resistance at the 50-day moving average, last at $15.95. Since November 2013, the stock has been trading in a range bound largely by $15 at the low and $18 at the high. A break of either end of the range would help guide where shares might trade thereafter. Failing news that is sufficiently bullish or bearish, we could expect the stock to trade in the same range until another catalyst emerges. On better news, resistance above current levels would be at $16.62, $17.22, and then at $18. If the news is more bearish than expected, a breakdown below $15 might be probable. In that event next support levels below $15 as downside objectives would be at $14.37 which is the 52-week low and then at $13.49 and $12.80.
14:05 EDTGSGoldman Sachs April volatility elevated into Q1 and outlook
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13:20 EDTGOOGRecord labels lobby for better royalties from YouTube, Dailymotion, FT says
The International Federation of the Phonographic Industry alleged Tuesday that certain digital video platforms including Google's (GOOG) YouTube and Orange's (ORAN) Dailymotion are relying too much on "safe harbour" laws to avoid paying royalties to record labels, reports the Financial Times, citing statements by IFPI CEO Frances Moore. The move comes as the European Commission weighs reforming EU copyright law. The IFPI is a recording industry group that counts Sony (SNE) Music Entertainment and Vivendi's (VIVHY) Universal Music Group among its members. Reference Link
12:01 EDTAAPLApple says ResearchKit now available to medical researchers
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11:16 EDTGOOGCredit Suisse's top Internet picks
Credit Suisse's top large-cap Internet picks remain Amazon.com (AMZN) for operating margin expansion and normalizing International growth, Facebook (FB) for underestimated long-term monitization potential from growing new products, and Google (GOOGL) for a slowdown in capex and narrowing of the mobile-desktop monetization gap. The firm's top small-cap picks are LinkedIn (LNKD) for the ramp of Sales Navigator and acceleration of Marketing Solutions and Yelp (YELP) because of reduced churn and increasing mobile traffic growth and ARPU.
11:01 EDTGOOGFrance may push for Google to reveal secret algorithm, Financial Times says
France is considering forcing Google to hand over its secret formula for ranking websites, reports the Financial Times. The French senate will likely pass a law this week that would allow the country's national telecoms regulator to monitor the algorithms. Reference Link
10:51 EDTGOOGGoogle to sell mobile phone plans directly to customers, The Information reports
Google (GOOG) is looking to sell mobile phone plans directly to customers while managing their calls and mobile data over a cellular network, reports The Information. According to people with knowledge of the plans, the new service is expected to run on Sprint (S) and T-Mobile (TMUS) networks. Google expected to reach deals to buy wholesale across to those carriers' networks. A launch this year seems likely. Reference Link
10:35 EDTCCitigroup looks to sell retail FX operations, Reuters says
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10:27 EDTAAPLSamsung's Galaxy S6 Edge costliest phone to build, Re/code reports
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09:43 EDTAAPLApple to discuss future of iOS and OS X at conference on June 8
Apple announced that it will hold its 26th annual Worldwide Developers Conference June 8 through June 12 at San Francisco’s Moscone West. At WWDC, Apple’s developer community will come together to learn about the future of iOS and OS X. WWDC will feature more than 100 technical sessions, over 1,000 Apple engineers, hands-on labs to help developers integrate technologies and fine tune their apps. Reference Link
09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN PBR SU NFLX ALU BIDU TSLA JNJ GE
08:40 EDTAAPLSeveral signs suggest Apple may build a car, says Bernstein
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07:58 EDTCCiti appoints Jamie Forese as sole president, WSJ reports
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07:35 EDTBACBank of America April volatility elevated into Q1 and outlook
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06:08 EDTGOOGAccess to Google's Malaysia website disrupted for some, WSJ reports
Some Google users in Malaysia had their access to the website interrupted on Tuesday, with some redirected to a website saying "Google Malaysia Hacked," The Wall Street Journal reports. A Google spokesperson commented that services like Gmail were not affected and said that "We’re aware that some users are having trouble connecting to google.com.my, or are being directed to a different website. We’ve reached out to the organization responsible for managing this domain name and hope to have the issue resolved shortly." Reference Link
05:48 EDTAAPLReport: Foxconn engaged in selling second-hand iPhones in China, DigiTimes says
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April 13, 2015
19:52 EDTGOOGLeaked Google app reveals potential cell network features, Android Police says
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17:10 EDTAAPLIBM establishes a Watson Health Cloud
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16:21 EDTAAPLOn The Fly: Top stock stories for Monday
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16:01 EDTAAPLOptions Update; April 13, 2015
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13:26 EDTAAPLOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Dow and S&P 500 slightly lower and the Nasdaq clinging to a narrow gain. The broader market opened in positive territory and the averages moved in a narrow trading range during the morning. The Nasdaq has been the strongest of the indices since the open, though early gains from Apple (AAPL) and Qualcomm (QCOM) had evaporated by near midday, taking a bite out of the gains the index had been seeing earlier in the session. ECONOMIC EVENTS: In the U.S., no major economic data was released. In China, export sales unexpectedly contracted 15% in March, while imports shrank 12.7% last month from a year ago. The March fall in imports was in line with forecasts, unlike the one for exports, which were expected to rise 12%. COMPANY NEWS: Activist investor Jana Partners is putting pressure on Qualcomm to increase stock buybacks and take other actions to increase shareholder value, including an exploration of spinning off its chip unit from its patent-licensing unit. In response to statements made by JANA, Qualcomm noted that it recently increased its stock repurchase authorization to $15B and repeated that it plans to repurchase $10B of common stock within one year. Barry Rosenstein of JANA Partners, while speaking on CNBC, said Qualcomm should buy back $15B of its shares over the next six months, before the company undertakes strategic actions that could move the stock higher... Apple shares were rising early in the trading day but had given up their gains by midday. Pre-orders of its new Apple Watch started Friday. The company did not release any sales figures for the first weekend, but research firm Slice Intelligence estimated that nearly one million customers in the U.S. preordered the device on the first day it was available. MAJOR MOVERS: Among the notable gainers were Alamos Gold (AGI), which rose 6%, and AuRico Gold (AUQ), which rose 7%, after the companies announced an agreement to combine via "a merger of equals" with a transaction equity value of about $1.5B. Upon completion of the deal, former Alamos and AuRico shareholders will each own approximately 50% of the new Alamos Gold and a new company, to be named AuRico Metals, will be created to hold AuRico's Kemess project and some other assets. The newly formed company will own a 4.9% equity interest in the spinoff and the remaining "SpinCo" shares will be distributed 50% each to former Alamos and AuRico shareholders. Also higher was Builders FirstSource (BLDR), which gained 65% after announcing that it has entered into an agreement to acquire ProBuild Holdings in an all-cash transaction valued at about $1.63B. Among the noteworthy losers was Basic Energy (BAS), which fell 8% after Raymond James downgraded the stock to Market Perform based on valuation, substantial pricing pressure, and industry overcapacity. Also lower were U.S.-listed shares of Sina (SINA), which dropped 5% after the Financial Times reported that China's government has warned that it will shut down the company's service if it does not "improve censorship." INDEXES: Near midday, the Dow was down 19.08, or 0.11%, to 18,038.57, the Nasdaq was up 7.93, or 0.16%, to 5,003.91, and the S&P 500 was down 3.04, or 0.14%, to 2,099.02.
12:46 EDTAAPLApple to update capital return policy on April 27, says Piper Jaffray
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12:17 EDTCCiti's Bird to replace Medina-Mora, run global consumer bank, WSJ reports
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12:05 EDTCCiti's Bird to replace Medina-Mora, run global consumer bank, Bloomberg says
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09:34 EDTAAPLActive equity options trading on open
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09:24 EDTBACBank of America shares are cheap, says Morgan Stanley
Morgan Stanley said its sum of the parts of analysis of Overweight rated Bank of America indicates a value of $21. The firm said Bank of America's current share price implies no value for the wealth management division, which it values at $4.84 per share. Morgan Stanley said shares are cheap and recommends purchase.
09:24 EDTAAPLApple Watch sales conversion showing good results, says Cowen
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09:20 EDTAAPLOn The Fly: Pre-market Movers
HIGHER: Builders FirstSource (BLDR), up 54.35% after acquiring ProBuild in all-cash transaction... Arrowhead (ARWR), up 14.3% after being cleared to proceed with multiple dose Phase 2b study of ARC-520... Oramed Pharmaceuticals (ORMP), up 6.9% after enrolling first patient in glucose clamp study for oral insulin... Clovis Oncology (CLVS), up 8.2% after being upgraded to Buy from Neutral at Goldman... Quantum (QTM), up 3.2% after announcing go-to-market partnership with Dot Hill Systems (HILL)... Netflix (NFLX), up 3.4% after being upgraded to Buy from Neutral at UBS... Apple (AAPL), up just under 1% following reports of Apple Watch orders. LOWER: Sina (SINA), down 3% following a report from the Financial Times that China may shut down the company if censorship doesn't improve... Ruckus Wireless (RKUS), down 2.9% after being downgraded to Buy from Conviction Buy at Goldman... Allot Communications (ALLT), down 2.7% after being downgraded to Hold from Buy at Needham.
08:42 EDTGSPandora rises after Spotify reportedly valued above $8B in fundraising
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08:14 EDTGOOGSolarCity announces partnership with Nest Labs
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07:48 EDTAAPLVocera announces first clinical communications app for Apple Watch
Vocera (VCRA) announced the Vocera app for Apple's (AAPL) Apple Watch. The Apple Watch enables Vocera to extend the power of the Vocera Communication Platform in new ways so physicians and care teams can engage with and respond to life-critical communications and alerts. The Vocera app for Apple Watch will allow users to rapidly manage life-critical communications by viewing and responding to prioritized calls, alerts, and messages from other care team members, Electronic Health Records and clinical systems, including critical lab values and STAT orders. In addition, users will be able to manage key communication functions by setting their availability to enable proper message routing. The Vocera app also allows users to initiate panic calls in "man-down" emergency situations, improving staff safety. The Vocera app will be available this summer from the Apple Watch App Store.
07:29 EDTAAPLApple May weekly volatility elevated into Q2 and outlook
Apple April call option implied volatility is at 28, May weekly is at 36, June is at 29; compared to its 26-week average of 26 according to Track Data, suggesting large May price into the expected release of Q2 results on April 27.
07:19 EDTBACbloomberg to hold a summit
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07:15 EDTAAPLApple Watch orders totaled about 957K in U.S. on first day, Apple Insider says
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06:51 EDTAAPLApple Watch off to strong start, says Cantor
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06:44 EDTGOOGEU could announce formal charges against Google, NY Times says
The EU's new antitrust commissioner, Margrethe Vestager, is making her first trip to Washington, causing some to speculate that she could announce formal charges against Google, according to The New York Times. Such an announcement could increase pressure on Google to settle the case, but Vestager could also recommend further study of the case or give the company a last opportunity to settle before filing formal charges, the newspaper stated. Reference Link
06:39 EDTGSGoldman Sachs in talks to sell NPL business of Archon to D.E. Shaw, Reuters says
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06:35 EDTAAPLApple Watch trends show solid demand, limited supply, says Piper Jaffray
Piper Jaffray says lead-times for the Apple Watch were unchanged over the weekend, which it views as an indication that Apple is expecting a ramp in production in mid-May to June. Overall, Piper views the Watch trends over the weekend as suggesting solid demand paired with very limited supply. It maintains an Overweight rating on Apple with a $160 price target.
06:30 EDTAAPLApple in talks with Florence and the Machine for Beats service, Bloomberg says
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05:59 EDTAAPLApple contacts Irish banks ahead of Apple Pay rollou, The Independent says
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April 12, 2015
19:01 EDTAAPLNokia maps unit HERE may be of interest to several tech firms, Re/code says
If Nokia is putting its mapping unit HERE up for sale it may draw interest from firms like Microsoft (MSFT), Yahoo (YHOO), Amazon (AMZN) and Apple (AAPL), says Re/code. Reference Link
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