New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For AAPL;C;BAC;GOOG;GS From The Last 14 Days
Check below for free stories on AAPL;C;BAC;GOOG;GS the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | all recent news | >>
July 30, 2014
16:00 EDTAAPLOptions Update; July 30, 2014
Subscribe for More Information
15:17 EDTBACBank of America raises offer to DOJ, nears mortgage settlement, Bloomberg says
Subscribe for More Information
14:30 EDTAAPLApple tells engineers not to expect TV launch this year, The Information says
Apple (AAPL) engineers working on the company's television product have been told not to expect a launch this year, with the tech giant citing cable companies “dragging their heals” and the pending merger of Comcast (CMCSA) and Time Warner Cable (TWC) as reasons the TV service has been delayed, according to The Information, citing a person familiar with the company's plans. Reference Link
13:53 EDTBACBank of America, U.S. near mortgage deal after bank raises offer, Bloomberg says
13:44 EDTBACBank of America division ordered to pay $1.3B over mortgages, Bloomberg reports
Bank of America's (BAC) Countrywide division has been ordered to pay $1.3B in penalties for defective mortgage loans it sold to Fannie Mae (FNMA) and Freddie Mac (FMCC) during the 2008 financial crisis, Bloomberg reported. The fine is just over half the amount the government had requested, Bloomberg added. Reference Link
13:26 EDTBACBofA Countrywide unit ordered by judge to pay $1.3B, Bloomberg reports
Subscribe for More Information
11:57 EDTAAPL, GOOGNew COO Beard says BlackBerry will 'prove' people incorrect, WSJ says
Even though BlackBerry (BBRY) is up against obstacles from rivals such as Apple (AAPL) and Google's (GOOG) Android smartphones, the company's new COO Marty Beard says that the firm is positioned to "prove people wrong" and take advantage of an emerging market for internet-connected devices, according to The Wall Street Journal, citing comments from Beard. Reference Link
09:53 EDTAAPLBest Buy CEO Joly says sales of tablets 'crashing,' Re/code reports
Subscribe for More Information
09:38 EDTAAPL, CActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN TWTR NFLX GILD C MA FB RFMD AMGN GNW TSLA
08:31 EDTAAPLInvenSense likely obtained substantial business from Apple, says Pacific Crest
Subscribe for More Information
08:15 EDTAAPLApple's iPad global market share may ship below 25% in 2H14, DigiTimes says
Subscribe for More Information
July 29, 2014
19:55 EDTGOOGBaidu developing 'self-driving' car, China Daily reports
Subscribe for More Information
16:01 EDTAAPLOptions Update; July 29, 2014
Subscribe for More Information
12:39 EDTAAPLFord replacing employees' BlackBerry phones with iPhones, Bloomberg reports
Subscribe for More Information
10:57 EDTAAPLApple iWatch launch said to be delayed to at least December, BGR reports
Subscribe for More Information
10:52 EDTAAPLApple iPhone 6 with sapphire to be limited by production issues, LEDinside says
Analysis of Apple's (AAPL) iPhone 6 supply chain indicates component suppliers have to start shipping products to OEMs for assembly in June to meet the September launch date, but LEDinside said its research did not discover demands for smartphone cover glass. "The sapphire glass version iPhone 6 will be issued in limited volumes this year," the periodical contends. Note that GT Advanced is a parter to Apple and sapphire supplier to the tech giant. Reference Link
09:52 EDTAAPLActive equity options trading on open
Subscribe for More Information
09:38 EDTGSGoldman may expand metal warehousing into China, Reuters says
Seeing a potential opportunity after a Chinese trading firm allegedly fraudulently used a single cargo of metal as collateral for multiple loans, Goldman Sachs' metals warehousing unit is exploring its first entry into China's market, reported Reuters, citing sources. Reference Link
08:31 EDTAAPLApple updates MacBook Pro with Retina display
Subscribe for More Information
08:00 EDTAAPLGarmin should be bought on any weakness after results, says Oppenheimer
Subscribe for More Information
06:47 EDTCCiti looks to hire 100 Asia unit bankers to rival HSBC, Reuters says
Subscribe for More Information
06:41 EDTAAPLFoxconn's labor practices in spotlight again following employee death, WSJ says
Foxconn says that an employee died in Shenzhen, China, putting the Apple supplier's labor practices in the spotlight again, the Wall Street journal reports. The cause of the 22-year-old male employee's death is still being investigated. The company, which assembles many iPhones and iPads for Apple, has been under scrutiny for its labor practices after several suicides and accidents at its Chinese factories. Reference Link
06:06 EDTBACBank of America, DOJ talks hit snag, WSJ reports
Subscribe for More Information
July 28, 2014
16:00 EDTGOOG, AAPLOptions Update; July 28, 2014
Subscribe for More Information
13:15 EDTGOOGBaidu mirrors Google with self-driving vehicle, FT says
Subscribe for More Information
12:45 EDTAAPLApple says large amount of data can be obtained about iPhone users, Reuters says
Apple employees can extract personal data from iPhones through previously unpublicized methods, Apple acknowledged last week, Reuters reported on Friday night. The company's admission came after a researcher showed last week how iPhone services extract a "surprising" amount of data about their users, the news service stated. Reference Link
12:26 EDTAAPLIHS teardown says Amazon Fire phone costs $205 to build, Re/code reports
Subscribe for More Information
10:22 EDTAAPLMIT Technology Review discusses new sapphire production at GT
Subscribe for More Information
09:50 EDTAAPLActive equity options trading on open
Subscribe for More Information
08:13 EDTGOOGGoogle rumored to work on 5.9" Nexus phone, Android Police says
Subscribe for More Information
07:40 EDTGOOGAmazon could see new cloud competition on many fronts, WSJ says
Subscribe for More Information
07:23 EDTAAPLApple's acquisition of Beats cleared by European Commission
The European Commission has cleared under the EU Merger Regulation Apple's acquisition of Beats Electronics and Beats Music. Beats Electronics was established in 2008 and designs, develops and sells audio products such as headphones and audio speakers. The Commission concluded that the combination of the two businesses did not raise competition concerns because the combined market share of Apple and Beats Electronics is low. In addition, Apple and Beats Electronics are not close competitors because the headphones they sell differ markedly in functionality and design.
07:21 EDTAAPLBlackBerry, Dell play-down risk of Apple-IBM partnership, Reuters says
Subscribe for More Information
06:37 EDTAAPLRival asks for ban on sale of Beats products, Re/code says
Subscribe for More Information
05:58 EDTGOOG, AAPLApple nears deal to buy Swell radio app for $30M, Re/code reports
Subscribe for More Information
July 27, 2014
18:57 EDTGOOGAmazon's cloud computing unit AWS faces more rivals, WSJ says
Amazon.com's (AMZN) cloud computing unit AWS has been competing with Google (GOOG) and Microsoft (MSFT) but more company's have launched offerings in the space including Verizon (VZ), Cisco Systems (CSCO), International Business Machines (IBM) and VMware (VMW), which may threaten the profitability plans that Amazon has for AWS, says the Wall Street Journal. Reference Link
16:14 EDTGSGoldman close to settling FHFA suit on faulty mortgage claims, Bloomberg says
Subscribe for More Information
15:38 EDTAAPLApple acquires book analytic startup BookLamp, TechCrunch says
Subscribe for More Information
10:40 EDTAAPLLarger iPhone could squeeze iPad sales further, Barron's says
Subscribe for More Information
July 25, 2014
16:49 EDTAAPLS&P ends week little changed amid earnings deluge
The S&P 500 finished little changed this week as mixed U.S. economic data and continued geopolitical uncertainty offset strong earnings from a number of major companies and upbeat overseas economic data. MACRO NEWS: U.S. economic data was mixed, as fewer than expected jobless claims were reported and durable goods orders for June were slightly higher than expected, but new home sales for June and a preliminary purchasing managers' index for July came in below expectations... Investors received some positive economic news from overseas, as HSBC's preliminary China purchasing managers' index for July reached an 18-month high. Meanwhile, a preliminary PMI for the euro zone for July came in at 54, versus 52.8 in June... Ongoing conflicts between Israel and Hamas and Russia and Ukraine kept investors on edge, with Friday reports indicating that no truce accord had been reached in Israel and that Russia was building up its troop presence along the Ukrainian border. COMPANY NEWS: Among the notable companies whose stocks rose after they reported quarterly results were Facebook (FB), Apple (AAPL), Allergan (AGN) and Chipotle Mexican Grill (CMG). Notable companies whose stocks sold off following their results included Netflix (NFLX), Harley-Davidson (HOG), General Motors (GM), Boeing (BA), McDonald's (MCD) and Pandora (P)... McDonald's was also hit this week by revelations that its restaurants in China had sold expired meat that was allegedly intentionally supplied by a China-based company. Yum! Brands (YUM) and a provider of products to Starbucks (SBUX) are also believed to have bought and sold expired meat from the supplier... In M&A news, Bloomberg reported that real estate website operator Zillow (Z) held talks about buying its rival, Trulia (TRLA). Both stocks surged. Shares of SodaStream (SODA) also rallied after Bloomberg reported that the company is in talks about selling itself to an investment firm that would take the beverage system maker private... On Monday, hedge fund manager Bill Ackman promised on CNBC that his presentation about Herbalife (HLF) would show why the company "is going to collapse." But the shares actually surged higher during and immediately after Ackman's presentation. Ackman has a large short position in the stock and notably alleged it is a pyramid scheme... BlackBerry's (BBRY) CEO told the Financial Times that his company was in early talks about partnering with companies to target the enterprise markets, in order to counter a recently announced partnership between Apple and IBM (IBM). INDEXES: For the week, the Dow fell 0.83% to 16,960.57, the Nasdaq rose 0.4% to 4,449.56, and the S&P was flat at 1,978.34.
16:02 EDTGOOGOptions Update; July 25, 2014
Subscribe for More Information
13:55 EDTAAPLBose sues Beats Electronics over alleged patent infringement
Bose Corporation filed a lawsuit requesting that the International Trade Commission commence an investigation to "remedy the unlawful importation" into the U.S. and/or sale within the U.S. of certain noise canceling headphones and components from Beats Electronics that are alleged to infringe one or more valid and enforceable U.S. patents owned by Bose. Beats Electronics has agreed to be acquired by Apple. Reference Link
13:13 EDTAAPLEinhorn bought Lam Research shares, sold Rite Aid last quarter
Subscribe for More Information
12:49 EDTGOOGYouTube could name music subscription service 'MusicKey,' GigaOM reports
Subscribe for More Information
12:12 EDTAAPLEinhorn takes stake in Lam Research, Bloomberg reports
Subscribe for More Information
11:03 EDTCCitigroup unit LavaFlow to pay $5M in settlement with SEC
The Securities and Exchange Commission has charged a Citigroup business unit operating an alternative trading system with failing to protect the confidential trading data of its subscribers. New York-based LavaFlow Inc. has agreed to pay $5M to settle the SEC’s charges, including a $2.85M penalty that is the agency’s largest to date against an ATS. According to the SEC’s order instituting a settled administrative proceeding, LavaFlow allowed an affiliate operating a technology application known as a smart order router to access and use confidential information related to the non-displayed orders of LavaFlow’s ECN’s subscribers. While LavaFlow only allowed the affiliate to use the confidential trading data for order router customers who also were ECN subscribers, the firm did not obtain consent from its subscribers to use their confidential information in this way, nor did LavaFlow disclose the use in its regulatory filings with the SEC. In addition to the Regulation ATS violations, the SEC’s order finds that LavaFlow aided and abetted a violation by the same affiliate that operated the smart order router, Lava Trading Inc., which continued to provide broker-dealer services for several months after it deregistered in August 2008.
10:05 EDTAAPLSwatch says not working with Apple on smartwatches, Business Insider reports
Subscribe for More Information
09:37 EDTC, AAPLActive equity options trading on open
Subscribe for More Information
09:31 EDTAAPLApple rumored to push out larger iPhone 6 production, AppleInsider says
Subscribe for More Information
07:47 EDTGOOGGoogle X project to gather 'baseline' of healthy human, WSJ says
Google X, the search giant's research arm, is undertaking "Baseline Study," an ambitious project to collect genetic and molecular information first from 175 people, and later from thousands more, to amass a much larger and broader set of new data on what a healthy human being should be than is currently available or being gathered by other mass studies, said The Wall Street Journal. Reference Link
06:43 EDTAAPLApple $450M e-books agreement terms troubles U.S. judge, Reuters says
Subscribe for More Information
05:55 EDTGOOGGoogle to buy Twitch for $1B, VentureBeat reports
Google will acquire Twitch, a game livestreaming company, for around $1B, sources confirm to VentureBeat. It is unclear when the deal will be announced or what the exactly purchase price will be, but the sources say YouTube is heading the purchase. Reference Link
July 24, 2014
16:38 EDTGSJames Schiro retires from the board of Goldman Sachs due to health reasons
The board of The Goldman Sachs Group announced that James Schiro, lead director and chair of the board’s corporate governance, nominating and public responsibilities committee, has retired from the board in order to undergo treatment after a diagnosis of multiple myeloma.
16:00 EDTC, AAPLiPath S&P 500 VIX Short-Term Futures down 10c to 28.08
Subscribe for More Information
13:16 EDTAAPLAkamai advances following Macquarie upgrade
Subscribe for More Information
11:12 EDTBACBank of America to pay $16.6M to resolve U.S. sanctions violations, Reuters says
The Treasury Department said Bank of America has agreed to say $16.6M to resolve allegations it processed transactions for drug traffickers subject to U.S. sanctions, reports Reuters. The bank processed around $91,000 in transactions for six designated narcotics traffickers between 2005 and 2009, and failed to file timely reports on accounts owned by four others. Reference Link
10:37 EDTAAPLBlackBerry CEO says in enterprise partnership talks, FT reports
Subscribe for More Information
09:36 EDTAAPLActive equity options trading on open
Subscribe for More Information
09:30 EDTAAPLApple set to become TSMC's largest client, DigiTimes reports
Subscribe for More Information
09:28 EDTAAPLApple to release iPhones at different times to avoid competition, DigiTimes say
Subscribe for More Information
06:46 EDTAAPLApple could launch mobile wallet as early as this fall, The Information reports
Subscribe for More Information
06:38 EDTGOOGWatchdog says Google evokes memories meant to be omitted, Bloomberg says
Subscribe for More Information
July 23, 2014
18:03 EDTAAPLInvestors shouldn't wait too long to buy Apple, Barron's says
Subscribe for More Information
17:01 EDTAAPLOn The Fly: Closing Wrap
Stocks began the session mixed and remained that way throughout the trading day, with the Nasdaq the leader and the Dow the laggard. The tech-heavy Nasdaq was helped by a post-earnings rise in shares of Apple (AAPL), while the blue-chip index was weighed down by Boeing's (BA) under-performance following its own quarter report. There was little movement in the averages during the day as they remained in a narrow range, but the increase in the S&P 500 did manage to push it to a new all-time closing high. After the bell, investors will receive the next wave of earnings with AT&T (T), Facebook (FB) and Qualcomm (QCOM) scheduled to report. ECONOMIC EVENTS: In the U.S., MBA's mortgage market index rose 2.4%, with a 0.3% rise in the purchase index and a 4.1% gain in the refinance index for the week ended July 18. Also, the International Monetary Fund predicted that U.S. economic growth for 2014 as a whole will be a disappointing 1.7%. However, barring unforeseen shocks, 2015 growth should accelerate to the fastest annual pace since 2005, propelled by strong consumption growth, a declining fiscal drag, a pickup in residential investment, and easy financial conditions, said the IMF. COMPANY NEWS: Shares of Apple advanced $2.47, or 2.61%, to $97.19 after reporting third quarter earnings that beat expectations. However, the iPhone maker's revenue came in a bit short of analyst expectations for its just completed quarter and its guidance for sales in the new quarter was also below expectations. Piper Jaffray analyst Gene Munster said Apple's September quarter guidance suggests an iPhone 6 launch on September 26, versus the firm's prior expectation for a September 19 launch. Piper views Apple's Q3 results as removing the last major variable ahead of the iPhone and iWatch launches later this year and reiterates an Overweight rating on the stock. Another research firm, Janney Capital, said Apple did not address rumored new products, like the iPhone 6 and iWatch, on its earnings call, but did indicate that its wider than normal revenue guidance range was due to "many moving pieces," suggesting one or two new products may be introduced, but late in the quarter... Dow component Boeing sank $3.03, or 2.34%, to $126.71 despite reporting "core" EPS that beat expectations and raising its fiscal year earnings outlook to a range above the Wall Street consensus. Boeing's revenue missed expectations, however, and it also reported its total company backlog of $440B was unchanged from the beginning of the quarter... Another Dow member, McDonald's (MCD), fell 92c, or 0.96%, to $95.35 after the company reported weaker than expected second quarter results yesterday and its stock was downgraded by at least five research firms. MAJOR MOVERS: Among the notable gainers was Puma Biotechnology (PBYI), whose stock surged $174.40, or 295.44%, to $233.43 after the company reported positive data for its breast cancer drug and an analyst at Citigroup said that the company would probably become a takeover target. Also higher was Intuitive Surgical (ISRG), which rose $69.47, or 17.71%, to $461.63 and was upgraded at both Raymond James and Stifel after the company reported better than expected Q2 results. Among the noteworthy losers was Xilinx (XLNX), which tumbled $6.89, or 14.31%, to $41.26 after the company reported lower than expected first quarter revenue and forecast that its sales could drop as much as 4% in Q2 versus Q1. After the report, analysts at William Blair, Bank of America Merrill Lynch and BMO Capital all downgraded the stock. Also lower were shares of Juniper Networks (JNPR), which fell $2.39, or 9.63%, to $22.43 and was also downgraded at Bank of America Merrill Lynch after its Q3 guidance missed expectations. INDEXES: The Dow slid 26.91, or 0.16%, to 17,086.63, the Nasdaq rose 17.68, or 0.4%, to 4,473.70, and the S&P 500 gained 3.48, or 0.18%, to 1,987.01.
16:02 EDTCSallie Mae names Jeffrey Dale as company’s first Chief Risk Officer
Sallie Mae (SLM) appointed Jeffrey Dale as the company’s first Chief Risk Officer. Mr. Dale will work with senior executives and other company stakeholders to build out the enterprise risk management function and framework for the company and its Sallie Mae Bank subsidiary. Mr. Dale arrives from Citigroup (C) where he most recently served as the North American Group Risk Director responsible for consumer credit in the United States, Puerto Rico and Canada.
16:00 EDTAAPL, COptions Update; July 23, 2014
iPath S&P 500 VIX Short-Term Futures up 23c to 28.17. Option volume leaders: AAPL FB C GILD MSFT PBR NFLX AMZN TWTR TSLA according to Track Data
14:47 EDTAAPLEarnings Preview: Qualcomm reports after Goldman takes off 'Conviction Buy' list
Subscribe for More Information
13:01 EDTGOOGSprint teams with Google to offer Google Apps for business
Subscribe for More Information
12:27 EDTGOOGGoogle acquires drawElements
Subscribe for More Information
12:17 EDTAAPLOn The Fly: Midday Wrap
Subscribe for More Information
12:01 EDTAAPLStocks with call strike movement; AAPL HLF
Subscribe for More Information
10:40 EDTAAPLApple tentatively plans to announce iPhone 6 in mid-September, 9to5Mac says
Subscribe for More Information
09:41 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX FB MSFT CELG TWTR TSLA VALE CNW
08:52 EDTAAPLApple guide suggests big products to come late in quarter, says Janney Capital
Subscribe for More Information
08:49 EDTAAPLVirnetX volatility elevated into CAFC decision
VirnetX (VHC) July weekly call option implied volatility is at 107, August is at 110, September is at 106, September is at 89; compared to its 26-week average of 85 according to Track Data, suggesting large near term price movement as investors await a with regard to VirnetX's case with Apple (AAPL).
08:08 EDTAAPL, AAPLApple price target raised to $120 from $115 at CLSA
07:47 EDTAAPLApple results more or less status quo, says Wells Fargo
Subscribe for More Information
07:03 EDTAAPLApple price target raised to $123 from $111 at Cantor
Subscribe for More Information
06:54 EDTAAPLApple shares recommended after June quarter results at Citigroup
Subscribe for More Information
06:50 EDTGOOGGoogle, Spotify didn't talk about a deal, Re/code says
Subscribe for More Information
06:45 EDTGOOG, AAPLMicrosoft faces increased competition from MacBooks, Chromebooks, DigiTimes says
Subscribe for More Information
06:26 EDTGOOGGoogle tried to buy Spotify last year, WSJ reports
Subscribe for More Information
05:59 EDTGOOGYouTube's Chris LaRosa quits as music head, WSJ reports
Subscribe for More Information
July 22, 2014
18:33 EDTAAPLOn The Fly: After Hours Movers
UP AFTER EARNINGS: Broadcom (BRCM), consensus up 3% after reporting second quarter results... Intuitive Surgical (ISRG), up 10.4%... Manhattan Associates (MANH), up 3%... Robert Half International (RHI), up 3.9%... Hawaiian Holdings (HA), up 3.1%... Microsoft (MSFT), up just under 1%... FMC Technologies (FTI), up 1.1%. ALSO HIGHER: Ballard Power Systems (BLDP), up 2.7% following purchase order from New Flyer Industries... Unwired Planet (UPIP), up 2.4% after filing a lawsuit against Microsoft for breach of contract. NOTABLE: Puma Biotechnology (PBYI), up 193.8% after reporting positive top line results from Phase III PB272 trial. DOWN AFTER EARNINGS: Xilinx (XLNX), down 8.7%... Apple (AAPL), down after reporting third quarter results and fourth quarter guidance... Juniper Networks (JNPR), down 4.7%... ALSO LOWER: Farmland Partners (FPI), down 3.8% after filing to sell 3.72M shares of common stock.
18:10 EDTAAPLApple guidance suggests Sept. 26 iPhone launch, says Piper Jaffray
Subscribe for More Information
17:31 EDTAAPLApple sees business as a catalyst for iPad sales
Subscribe for More Information
17:12 EDTAAPLApple says iPad sales were 'gated' by channel inventory, market softness
Comment made on Q2 earnings conference call.
16:35 EDTAAPLApple shares up 17c to $94.89 following Q3 results
16:34 EDTAAPLApple CEO says 'strong' sales of iPhone, Mac in Q3
Apple CEO Tim Cook said, "“Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters. We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce."
16:33 EDTAAPLApple sold 35.2M iPhones in Q3
Apple sold 13.28M iPads in Q3, 4.4M Macs, and 2.93M iPods.
16:32 EDTAAPLApple reports Q3 gross margin 39.4% vs. 36.9% last year
International sales accounted for 59% of the quarter's revenue.
16:31 EDTAAPLApple sees Q4 revenue $37B-$40B, consensus $40.44B
Sees Q4 gross margin between 37%-38%.
16:30 EDTAAPLApple reports Q3 EPS $1.28, consensus $1.23
Reports Q3 revenue $37.4B, consensus $37.99B.
16:00 EDTAAPLOptions Update; July 22, 2014
Subscribe for More Information
15:30 EDTAAPLNotable companies reporting after market close
Subscribe for More Information
15:12 EDTAAPLApple July weekly 94.64 straddle priced for 4.6% move into Q2
Subscribe for More Information
13:18 EDTAAPLEarnings Preview: Apple reports after stock split, Beats purchase, iOS 8 launch
Apple (AAPL) is set to report third quarter earnings after the market close on Tuesday, July 22, with a conference call scheduled for 5:00 pm ET. Apple, the world's most valuable company by market capitalization, is the manufacturer of the iPhone and iPad, among other desktop and mobile computing devices. EXPECTATIONS: Analysts are looking for earnings per share of $1.23 on revenue of $37.99B, according to First Call. The consensus range for EPS is $1.14-$1.37 on revenue of $36.58B-$40.31B. In a note to investors, Piper Jaffray analyst Gene Munster said Street analysts expect year-over-year iPhone sales growth of 14% to 35M-36M units, flat iPad sales of 14M-15M units, and a Q3 gross margin of 38%. Munster added that he expects Apple to guide Q4 revenues to $39B-$41B, which is in keeping with Street estimates for about $40.4B in Q4 revenue. LAST QUARTER: Apple reported second quarter EPS of $11.62 on revenue of $45.6B, which topped estimates for $10.18 and $43.5B, respectively. Apple reported iPhones sales of 43.7M units, iPad sales of 16.35M units and Mac sales of 4.14M. Apple said it sees Q3 revenue of $36B-$38B and a gross margin of 37%-38%. Along with its Q2 report, Apple announced a seven-for-one stock split. Apple also announced that its board raised its share repurchase authorization to $90B from the $60B level announced last year and an increase to the company’s quarterly dividend of approximately 8% to $3.29 per common share. NEWS: On May 28, Apple confirmed that it agreed to buy Beats Music, which operates a streaming music service, and Beats Electronics, which makes and sells electronic music products such as headphones and speakers, for $3B. As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple. Apple said at that time that it expects the transaction to close in Q4. On June 2, Apple announced OS X Yosemite, a new version of OS X redesigned and refined with a new look, new apps and new continuity features. Apple also unveiled iOS 8, a new version of its mobile operating system with new features for users and developers. Among the features were iCloud Photo Library, which allows user to enjoy photos and videos more easily across devices, new Messages features to easily share voice, video or photos, and a new Health app. Apple noted that the software development kit, or SDK, for iOS 8 was its "biggest developer release ever," with more than 4,000 new APIs. Apple and IBM announced last week that they would collaborate to provide mobile solutions for businesses. Under the deal, the companies will develop more than 100 enterprise solutions, including native apps, for Apple's iPhone and iPads. Moreover, IBM will sell iPhone and iPads to all of its business clients around the world, the companies noted. Also last week, Apple announced that Susan Wagner, founding partner and director of BlackRock (BLK), has been elected to Apple's board and that Bill Campbell, the board’s longest-serving member, is retiring after 17 years of service. Mac Rumors reported on July 10 that Apple was said to have ordered 68M iPhone 6 devices, citing a report in Taiwan's Business Weekly. That's double the amount of phones that the tech giant ordered prior to launching the iPhone 5 in 2012, the tech blog noted. The Wall Street Journal subsequently claimed that Apple has asked its suppliers to manufacture between 70M-80M of its two upcoming large-screen iPhones by the end of the year. ANALYST OPINION: On the day after Apple's last quarterly report, CLSA upgraded its rating on the shares to Buy from Outperform. On May 9, ISI Group downgraded Apple to Buy from Strong Buy, citing valuation. On June 2, following Apple's launch event for iOS 8, Piper Jaffray said it believed parts of Apple's new operating system point towards a possible iWatch later in the year and potential connected home products in the future. Piper said at that time that Apple remains on track to deliver multiple new product categories by the end of 2014. On June 17, Societe Generale upgraded Apple to Buy from Hold. On July 14, Barclays raised its rating on Apple to Overweight from Equal Weight, citing its channel checks that indicated near-term upside to consensus estimates. The firm also believes troubles at Samsung are creating an opportunity for Apple to regain market share and raised its price target for Apple shares to $110 from $95. The same day, Morgan Stanley said its survey results suggest June quarter iPhone demand upside. The firm raised its iPhone unit estimate to 36M from 34M and increased its EPS estimate to $1.24. Morgan Stanley increased it price target on Apple to $110 per share. Yesterday, JMP Securities upgraded Apple to Outperform from Market Perform, as the firm thinks the company is poised to report higher than expected sales and gross margins over the near-term and intermediate term. JMP set a price target of $135 on the stock. In his note previewing Apple's quarter, Munster wrote that Apple's guidance for its September-end quarter should tell investors if new iPhones are launching in September or later in the year. The Piper analyst expects a typical September launch, which could give the company 5 or 12 days of sales with the new phone depending on a standard Friday launch and its timing. Munster estimated the potential 7 day swing in the timing of the new phone could mean a 3M-4M unit and about $2B difference in the guidance for Q4, citing recent weekly run-rates for iPhone sales near launch quarters. PRICE ACTION: Each Apple shareholder of record at the close of business on June 2 received six additional shares for every share held on the record date and trading began on a split-adjusted basis on June 9. Shares of Apple advanced about 8% on the first day of trade following its Q2 report. Since the first day of trade following its last quarterly report, shares of Apple are up nearly 26%. In early afternoon trading ahead of its Q3 report tonight, Apple was up fractionally to just over $94 per share.
12:30 EDTGOOGEU regulators to revisit Google antitrust settlement, WSJ reports
Subscribe for More Information
11:56 EDTGOOGEU may revise antitrust settlement with Google, Dow reports
Subscribe for More Information
10:51 EDTAAPLApple technical comments ahead of earnings
Subscribe for More Information
10:30 EDTAAPLApple July weekly volatility increases into Q3
Subscribe for More Information
10:16 EDTGOOGAmazon quietly debuts mobile wallet app, TechCrunch says
Subscribe for More Information
10:01 EDTAAPLPandora advances after upbeat notes from analysts
Subscribe for More Information
09:36 EDTC, AAPLActive equity options trading on open
Subscribe for More Information
07:45 EDTAAPLApple granted patent for smartwatch with gesture support, AppleInsider says
A patent granted to Apple and published by the USPTO provides one of the clearest signs yet that the company has been working on a smartwatch, reported AppleInsider, which noted that the patent covers a wrist-worn wearable device, dubbed "iTime" in one illustration, that supports arm and wrist gestures and has advanced proximity-sensing circuitry. Reference Link
07:31 EDTAAPLInvestors prepare for large dose of earnings reports
U.S. equity futures are suggesting a market bounce following yesterday’s down day. Investors are feeling optimistic about the week’s large number of earnings reports. Scheduled to release results today are tech heavyweights Apple (AAPL) and Microsoft (MSFT.) Both companies' earnings have the ability to impact the rest of the technology sector. Investors will also be examining the Consumer Prices Index, a housing price index, an existing home sales report, and Richmond Fed manufacturing data.
07:17 EDTBACNational Association for Business Economics to hold a seminar
Subscribe for More Information
06:34 EDTGSGoldman, others close to $2B Huarong agreement, Reuters says
Goldman Sachs and other private equity firms such as Warburg Pincus, Khazanah Nasional, CITIC Group, China International Capital, Fosun Group and COFCO are nearing an agreement to purchase up to a 20% stake in China Huarong Asset Management for approximately $2B, according to Reuters, citing people familiar with the matter. Reference Link
06:30 EDTGOOGItaly grants Google 18 months to modify data use habits, Reuters says
Italy's data protection regulator granted Google 18 months to modify the manner in which it treats and stores user information, ending a probe that is part of a European target to change the company's privacy practices, according to Reuters, citing a statement from the Italian watchdog. A Google spokesman said the firm had always complied with the regulator and would continue to do so. Reference Link
06:21 EDTGOOGWitsView: Acer surpasses Samsung in Chromebook shipments in Q2, DigiTimes says
Subscribe for More Information
06:01 EDTAAPLApple asking suppliers to produce 80M large-screen iPhones, WSJ reports
Subscribe for More Information
July 21, 2014
16:52 EDTGOOGGoogle ranked as top U.S. search marketplace in June
Subscribe for More Information
16:00 EDTAAPLOptions Update; July 21, 2014
iPath S&P 500 VIX Short-Term Futures up 65c to 28.53. Option volume leaders: AAPL FB NFLX DG CMCSA GILD PBR TWTR TSLA according to Track Data.
14:27 EDTAAPLApple inventory, older iPhone demand should be watched, says BGC Financial
Subscribe for More Information
14:23 EDTAAPLApple July weekly volatility elevated at 57 into Q3
Subscribe for More Information
13:15 EDTGOOGGoogle ranked as top online video content property in June
Subscribe for More Information
10:45 EDTAAPL, GOOGAnalysts roll out coverage on GoPro with differing views
Shares of GoPro (GPRO) are climbing after a number of analysts initiated coverage of the stock with different outlooks. GoPro develops mountable and wearable cameras. BULLISH TAKE: JPMorgan analyst Paul Coster initiated coverage of GoPro with an Overweight rating. GoPro is gaining share in the digital camcorder market, and it has begun to penetrate "active lifestyle" markets, which are a much larger opportunity for the company, Coster believes. The company could ship 10M of its products for use by active lifestyle participants annually, the analyst estimated. In a best case scenario, the company could also sell low-cost devices for the mass market, according to Coster. However, GoPro will face competition from major companies, including Google (GOOG) and possibly Apple (AAPL) in this market, warned Coster, who set a $51 price target on GoPro. Also initiating coverage of the name with an Overweight rating was Piper Jaffray analyst Sean Naughton. GoPro is in the early stages of growth, as the company's user base is poised to expand beyond extreme sports enthusiasts, the analyst forecast. The company has a competitive advantage over other brands, which should enable it to maintain strong profitability, added Naughton, who set a $48 price target on the shares. BEARISH TAKE: Stifel analyst Jim Duffy started coverage of GoPro with a Hold rating. The company's three year growth outlook is compelling, but the stock is fully valued, the analyst believes. The company faces a number of risks, including competition in the image device market and the possibility that its relationship with key channel partners, including Best Buy (BBY), could be disrupted, the analyst wrote. Sales to Best Buy accounted for 17% of GoPro's revenue in fiscal 2013, Duffy reported. After GoPro surged following its initial public offering, the stock is likely to advance by only limited amounts, wrote Barcalys analyst Joseph Wolf, who initiated coverage of the shares with an Equal Weight rating. The stock could fall to $30 if the company is unable to increase its hardware sales or make progress in its efforts to develop a media business, the analyst warned. He set a $45 price target on the shares. PRICE ACTION: A total of seven analysts rolled out coverage today on GoPro, according to The Fly’s research, with only two recommending the stock with buy-equivalent ratings. Shares of the camera marker are up 3%, or $1.10, to $42.53 in morning trading.
10:02 EDTAAPLOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
09:38 EDTGOOG, AAPL, CActive equity options trading on open
Subscribe for More Information
08:17 EDTAAPLApple upgraded at JMP Securities
Subscribe for More Information
07:29 EDTBACAIG settlement with BofA takes crisis claw back total up to $2B, FT says
Subscribe for More Information
07:23 EDTCCiti unit, Mexican regulator at odds over fraud probes, Reuters says
Subscribe for More Information
07:15 EDTGOOGO'Reilly to hold a conference
Subscribe for More Information
07:14 EDTAAPLApple should be owned into tomorrow's results, says Piper Jaffray
Subscribe for More Information
06:47 EDTGSGoldman signs preliminary agreement with Socar unit, Reuters says
Subscribe for More Information
06:42 EDTAAPLApple price target raised to $115 from $100 at UBS
Subscribe for More Information
05:57 EDTAAPLApple upgraded to Outperform from Market Perform at JMP Securities
Subscribe for More Information
July 20, 2014
13:06 EDTAAPLFormer Obama spokesman Carney said to consider job at Apple, Bloomberg says
Subscribe for More Information
July 18, 2014
18:47 EDTGOOGGoogle considers transforming NYC pay phones to Wi-Fi hot spots, Bloomberg says
Subscribe for More Information
16:47 EDTGS, C, GOOG, BAC, AAPLMarket ends week higher as earnings, M&A offset geopolitical tensions
Subscribe for More Information
16:20 EDTGOOGOn The Fly: Closing Wrap
Subscribe for More Information
16:03 EDTAAPLOptions Update; July 18, 2014
Subscribe for More Information
13:02 EDTGSGoldman, JPMorgan ready with $25B bridge loan for Time Warner takeover by Fox
Subscribe for More Information
12:42 EDTGOOGOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory and have remained there throughout the morning. The averages moved in a narrow range for most of the opening hour of the session but spurted to higher levels during the second hour. Investors appear to be using yesterday’s sell-off as a buying opportunity, despite the ongoing events in Russia and Israel that largely contributed to yesterday’s action. ECONOMIC EVENTS: The first release of the University of Michigan consumer sentiment index for July fell to 81.3 after ending June with an 82.5 reading. The leading economic indicator index rose 0.3% to 102.2, which was a bit below the forecast for an increase of 0.5%. COMPANY NEWS: Class A shares of Google (GOOGL) advanced over 3% after the search giant reported quarterly revenue that beat expectations last night. Following its report, at least three Wall Street research firms raised their price targets on the stock, while noted tech analyst Collin Gillis of BGC Financial upgraded the stock to Buy from Hold... Dow component General Electric (GE) reported second quarter EPS of 39c, matching the consensus forecast, and revenue that just missed the consensus view of analysts. The company also reported that it is targeting the initial public offering of IPO of Synchrony Financial (SYF), its North American Retail Finance business, for July. In the IPO, Synchrony is offering 125M shares of its common stock, which will be listed on the New York Stock Exchange under the symbol “SYF,” and anticipates that the IPO price of the shares will be between $23.00 and $26.00 per share... Another Dow member, IBM (IBM), fell 0.4% after reporting adjusted Q2 earnings per share and revenue that beat expectations. Afterward, Cantor said it thinks the worst is over for the company and reiterated its Buy rating on the shares, though Societe Generale downgraded IBM to Sell from Hold and Credit Suisse said IBM continues to be driven by less revenue growth and kept its Underperform rating and $160 price target on Big Blue's stock. MAJOR MOVERS: Among the notable gainers was Skyworks (SWKS), which gained 14% after reporting third quarter results and fourth quarter guidance above analyst estimates and seeing no less than five analyst firms raise their price targets on its stock. Also higher was Gentiva Health (GTIV), which rose 14% after it announced that its board unanimously determined to reject the partial tender offer from Kindred Healthcare (KND) to acquire 14.9% of the outstanding shares of Gentiva for a price of $16.00 per share in cash and disclosed that it has received a $17.25 per share, all-cash takeover proposal from a "recognized owner, operator and investor in the sector." After the announcement, shares of Kindred fell 2%. Also lower following their earnings reports were RealPage (RP), which fell over 21%, and Advanced Micro Devices (AMD), which dropped nearly 18%. INDEXES: Near midday, the Dow was up 107.05, or 0.63%, to 17,083.86, the Nasdaq was up 57.98, or 1.33%, to 4,421.43, and the S&P 500 was up 17.04, or 0.87%, to 1,975.16.
12:21 EDTGOOGCable ad upfront volumes may drop 4% or more, WSJ says
Two of the U.S.'s biggest marketers, Procter & Gamble (PG) and General Motors (GM), have pulled back on their TV network advertising commitments in advance of the "upfront" selling season for cable networks, said The Wall Street Journal, citing people familiar with the matter. The overall volume of ad dollars committed to cable networks during the upfront, which is still under way, could be down 4% or more from last year, people familiar with the situation said. Notable owners of cable television stations include 21st Century Fox (FOXA), Time Warner (TWX), Disney (DIS), CBS (CBS), Comcast (CMCSA), Discovery (DISCA), Viacom (VIAB), and AMC Networks (AMCX). The report added that cutbacks partly reflect a shift of tv ad budgets to digital media, including online video. Google (GOOG) has a large presence in online video with YouTube and Facebook (FB) is taking steps to grow in the area. Reference Link
12:01 EDTCCitigroup says DOJ settlement includes est. of cost of consumer relief
Says $3.8B charge for DOJ settlement included estimates of cost of consumer relief.
11:30 EDTCCitigroup sees issuing 'somewhat more' securitizations during rest of year
Says liquidity position remains strong. Sees FY NCL rate in Asia, Latin America roughly in line with 1H. Says expects to repurchase or redeem $10B of debt this year. Expects to issue preferred stock between now and when Basel III rules are implemented at a measured pace. Sees 2014 preferred stock issuance volume below 2013 levels. Says capital position remains among the strongest in the industry. Says will issue "somewhat more" securitizations during the rest of the year, says credit cards to be primary source of additional securitizations. Comments made on the company's Q2 Fixed Income Investor Review.
11:03 EDTGOOG, AAPLEU says Google adding 'in-app' purchase protections, Apple yet to commit
Subscribe for More Information
10:41 EDTGOOGGoogle upgraded to Buy from Hold at BGC Financial
10:33 EDTAAPLSkyworks price target raised to $62 from $56 at Craig-Hallum
Craig-Hallum increased its price target on Skyworks (SWKS) after the company's Q3 results surpassed its guidance, and the company issued guidance for its September quarter that the firm views as strong. The firm thinks the company's annual EPS is moving towards $5. It expects the company to benefit from the launch of Apple's (AAPL) iPhone 6 and the recent popularity of Internet of Things devices. Craig-Hallum thinks the shares look cheap and reiterates a Buy rating on the shares.
10:32 EDTCCitigroup says making continued progress in resolving legacy issues
Subscribe for More Information
09:48 EDTGOOG, AAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NQ GOOG GOOGL TSLA KGC TWTR AMZN ELNK AMGN FB
09:24 EDTGOOGOn The Fly: Pre-market Movers
Subscribe for More Information
09:18 EDTGOOGSoftbank hire of Arora from Google 'interesting,' says Wells Fargo
Subscribe for More Information
08:14 EDTGOOGGoogle price target raised to $690 from $675 at RW Baird
Subscribe for More Information
07:57 EDTGOOGGoogle price target raised to $715 from $700 at Canaccord
Canaccord raised its price target on Google to $715 from $700 following its strong Q2 results. The firm cited valuation, potential for margin expansion, and undiscounted potential from Youtube, mobile ad pricing and other adjacent businesses. Canaccord maintains its Buy rating on Google.
07:55 EDTGOOGGoogle results positive, says Wells Fargo
Subscribe for More Information
07:49 EDTAAPLEU says Apple should do more to battle in-app purchases issue, Reuters says
Subscribe for More Information
07:13 EDTGOOGGoogle looks to expand Google Fiber to Britain, Telegraph reports
Subscribe for More Information
06:58 EDTAAPLReport says iPhone 6 begins mass production this month, Reuters says
Subscribe for More Information
06:57 EDTGOOGGoogle price target raised to $670 from $645 at JPMorgan
JPMorgan raised its price target for Google shares to $670 citing accelerating growth and mobile monetization improvements following the company's "strong" Q2 results. The firm reiterates an Overweight rating on the stock.
06:45 EDTBACDocument reveals SEC examining firms in HFT probe, Reuters says
An internal document from the U.S. Securities and Exchange Commission revealed that the regulator has been looking for data on 10 registered broker dealers as part of an ongoing probe into high-frequency trading strategies, according to Reuters, citing the document. The firms in question include Allston Trading, Hudson River Trading, Jump Trading, Latour Trading, which is an affiliate of Tower Trading, Merrill Lynch, Pierce, Fenner & Smith, owned by Bank of America (BAC), Octeg, which has been merged into a unit of KCG (KCG), Tradebot Systems, Two Sigma Investments, Two Sigma Securities and Virtu Financial. Reference Link
06:23 EDTGOOGYouTube making new content push with video-makers, WSJ reports
Subscribe for More Information
06:21 EDTGSCTW Investment asks SEC to probe Walgreen's meetings, NY Post says
CTW Investment Group has asked the SEC to investigate private meetings that top Walgreen (WAG) executives held with investors to reincorporate overseas for tax reasons, reports the New york Post. The pension advisor is raising questions about whether Walgreen's meetings with Goldman Sachs (GS), Jana Partners, Och-Ziff and Corvex broke fair disclosure rules. Reference Link
05:31 EDTGOOGGoogle reported solid Q2 results, says Piper Jaffray
Subscribe for More Information
July 17, 2014
18:31 EDTGOOGOn The Fly: After Hours Movers
Subscribe for More Information
16:40 EDTAAPLBill Campbell retires from Apple's board, replaced by Susan Wagner
Apple (AAPL) announced that Susan Wagner, founding partner and director of BlackRock (BLK), has been elected to Apple's board. Bill Campbell, the board’s longest-serving member, is retiring after 17 years of service. Wagner co-founded BlackRock in 1988, holding a range of leadership positions including vice chairman until mid-2012.
16:15 EDTGOOGGoogle reports Chief Business Officer Nikesh Arora leaving to join Softbank
Subscribe for More Information
16:13 EDTGOOGGoogle reports Q2 average cost-per-click down 6%
Average cost-per-click, which includes clicks related to ads served on Google sites and the sites of our Network members, decreased approximately 6% over prior year and remained constant from Q1. Aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of our Network members, increased approximately 25% over prior year increased approximately 2% over Q1.
16:12 EDTGOOGGoogle reports Q2 sites revenue up 23% to $10.94B
Subscribe for More Information
16:11 EDTGOOGGoogle reports Q2 EPS $6.08, consensus $6.24
Subscribe for More Information
16:01 EDTAAPL, GOOGOptions Update; July 17, 2014
iPath S&P 500 VIX Short-Term Futures up 2.66 to 29.93. Option volume leaders: AAPL FB GOOG APA MSFT PBR SUNE AMZN TWTR TSLA according to Track Data.
15:26 EDTGOOGNotable companies reporting after market close
Subscribe for More Information
15:26 EDTGOOGRaymond James remains positive on Google ahead of tonight's results
Subscribe for More Information
15:05 EDTAAPLEarnings Preview: IBM reports after Apple deal, dividend hike
Subscribe for More Information
14:51 EDTAAPLApple heads lower to test of support, levels to watch
The shares are heading lower, last at $93.48. At that price the stock is just above uptrend support at the 30-day moving average, last at $93.11. A break below the 30-day moving average would set the stage for a test down to the 50-day moving average at $90.57. Resistance is at $95.10, the 10-day moving average.
14:44 EDTAAPLAsus tablet sales in Japan top Apple in first half of year, Nikkei says
Subscribe for More Information
13:33 EDTAAPL, GOOGAmazon.com reportedly deveoping Android app for Prime content, Cnet says
Amazon (AMZN) may soon release an app that would enable users of Google's (GOOG) Android operating system to stream content from Amazon's Prime Instant Video, PC Advisor reported, according to Cnet. Currently Amazon's Kindle Fire tablets and Apple's (AAPL) iPads are the only mobile devices that can access content from Prime, Cnet stated. Reference Link
12:52 EDTGOOGEarnings Preview: Google shares up 4.5% since last earnings report
Google (GOOG, GOOGL) is expected to report second quarter earnings after the market close on Thursday, July 17 with a conference call scheduled for 4:30 pm ET. Google is a global technology company that focuses on Internet search, cloud computing, and advertising technologies. EXPECTATIONS: Analysts are looking for earnings per share of $6.24 on revenue of $15.62B. The consensus range is $5.73-$6.64 for EPS, and $15.36B-$15.94B for revenue, according to First Call. LAST QUARTER: Google reported first quarter EPS of $6.27 against estimates of $16.40 on revenue of $15.42B against estimates of $15.52B. Google reported Q1 paid clicks up 26% and average cost-per-click decreased 9%. The company also reported Q1 Sites revenue $10.47B and Q1 Network revenue $3.4B. Google said it expects to continue to make "significant capital expenditures" and reported free cash flow in Q1 of $2.05B. NEWS: Google announced several acquisitions in the past quarter, most notably for music streaming service Songza, live video-streaming service Twitch, and high-res imaging satellite maker Skybox Imaging. The company also expanded Shopping Express to New York and other parts of California, including Los Angeles. There were also reports that Google has set aside $500M to expand the service worldwide. Bloomberg reported the company intends to spend a "significant portion" of its offshore cash to make acquisitions with nearly $20B-$30B on foreign companies and foreign technology rights. Google also entered the domain registration business through an invite-only beta website, may likely overhaul Google+ in the near future, and is said to be developing a 7-inch tablet that can capture 3D images. At Google's I/O opening keynote in June, the company said Android had over 1B users, Chrome for Mobile had 300M active users and Google Drive has over 190M active users. STREET RESEARCH: Cantor said the company's revenue growth relative to CapEx has declined in the past several years as it has spent less efficiently on growth than its peers. Susquehanna, on the other hand, said Google's recent underperformance has created a buying opportunity due to favorite mix shift and strong core growth at Google.com and YouTube. Ahead of the Q2 earnings report, Google's price target was also raised at Citigroup after channel checks with search marketing companies suggested the business accelerated slightly in Q2. PRICE ACTION: Google shares have risen 4.5% since the first day of trading following the company's Q1 report. In Wednesday afternoon trading ahead of Q2 report, Google shares are down a little over 1.5%.
09:40 EDTAAPLActive equity options trading on open
Subscribe for More Information
09:09 EDTGOOGSenate Commerce, Science & Transportation Committee holds a hearing
Subscribe for More Information
08:47 EDTGSAdvanced Emissions provides operations update
Subscribe for More Information
08:39 EDTGOOGMicrosoft shifting some Nokia X designs to Lumia products running Windows
Subscribe for More Information
06:50 EDTGOOGAirbus considering partnering with high tech companies, NY Times says
Subscribe for More Information
06:47 EDTGOOGGoogle plans big push in India for Android One initiative, The Informations says
Subscribe for More Information
06:38 EDTBACStudy says UBS largest private bank with assets near $2T, Reuters says
Subscribe for More Information
06:00 EDTGSGoldman Sachs implied volatility of 15 at lower end of index mean range
Subscribe for More Information
July 16, 2014
17:39 EDTGOOGeBay says Google search algorithm change slowed traffic in June
Subscribe for More Information
16:54 EDTAAPLIcahn says Apple's Tim Cook doing a 'good job'
Subscribe for More Information
16:24 EDTAAPLOn The Fly: Closing Wrap
Stocks on Wall Street started the trading day higher, thanks in part to solid earnings reports from some of the nation’s largest companies as well as a proposed mega-merger in the entertainment industry. Investors preparing for the next round of earnings after the close, which includes reports from eBay (EBAY), Yum! Brands (YUM), and Las Vegas Sands (LVS), did so with the Dow at a new all-time high. ECONOMIC EVENTS: In the U.S., the Producer Price Index for June rose 0.4%, which was ahead of expectations for a 0.2% increase. Industrial production grew 0.2% in June, missing the forecast for 0.3% growth. The NAHB homebuilder confidence index rose to 53 in July, ahead of expectations for it to tick up 1 point to 50. Economic activity expanded in all regions of the country at a moderate to modest pace in recent weeks, the Fed reported today in its Beige Book. Consumer spending rose in every region, as retail sales grew modestly in most areas and vehicle sales were stronger than sales of most other products, the central bank reported. COMPANY NEWS: Shares of HBO and Warner Bros. parent Time Warner (TWX) surged $12.12, or 17.07%, to $83.13 after it was reported by CNBC and DealBook's Andrew Ross Sorkin that the company had received, and rejected, a takeover offer worth about $80B, or $85 per share, from Rupert Murdoch's Twenty-First Century Fox (FOXA). Both Time Warner and Fox subsequently confirmed the report, with Time Warner stating that it rejected the bid since it was "not in the best interests of stockholders" and Fox noting that the companies are not currently in discussions. Afterward, research firm Jefferies said it believes 21st Century Fox could raise its bid for Time Warner into the mid-to-upper $90's per share, but it also thinks that Time Warner would still be unlikely to accept the offer. Meanwhile, FBR Capital said Fox could pay up to $120 for Time Warner and still make an accretive deal. Class A shares of Twenty-First Century Fox ended the day down $2.19, or 6.22%, to $33.00... Shares of Apple (AAPL) initially rose after announcing last night that it would collaborate with IBM (IBM) to provide mobile solutions for businesses. Goldman Sachs analyst Bill Shope wrote in a note to investors that the deal with IBM is clearly positive for Apple, as it validates the "unique enterprise capabilities" of iOS, which has a lack of fragmentation that makes it uniquely suited for organizations. BlackBerry (BBRY), which has a focus on mobile devices for business use, slid $1.33, or 11.77%, to $9.97 after the tech giants announced their new partnership. Apple closed down 54c, or 0.57%, to $94.78, though IBM (IBM), which reports after tomorrow's close, climbed $3.87, or 2.05%, to $192.36. MAJOR MOVERS: Among the notable gainers was Intel (INTC), which advanced $2.94, or 9.27%, to $34.65 after the semiconductor giant's second quarter results beat analysts' consensus estimates. Also higher was Tenet Healthcare (THC), which rallied $3.74, or 8.32%, to $48.71 after after another company in the hospital sector, HCA Holdings (HCA), pre-announced stronger than expected second quarter results. For its part, HCA rose $5.78, or 10.47%, to $60.99 after providing better than expected Q2 guidance and increasing its fiscal year outlook. Among the noteworthy losers was Yahoo (YHOO), which fell $1.82, or 5.11%, to $33.79 after the company's second quarter results fell short of analysts' consensus estimates. The company also said it will lower the amount of stock it will sell in Alibaba's initial public offering to 140M shares and that it plans to return "at least half" of its after-tax proceeds from the stake sale to its shareholders. Also lower were shares of Ross Stores (ROST), which fell $3.12, or 4.78%, to $62.15 after Sterne Agee downgraded its stock to Neutral from Buy and cut its price target for shares to $68 from $81, citing negative traffic trends and low visibility. INDEXES: The Dow rose 77.52, or 0.45%, to 17,138.20, the Nasdaq gained 9.58, or 0.22%, to 4,425.97, and the S&P 500 advanced 8.29, or 0.42%, to 1,981.57.
16:00 EDTAAPL, GOOG, COptions Update; July 16, 2014
iPath S&P 500 VIX Short-Term Futures down 70c to 27.25. Option volume leaders: AAPL FB GOOG AMZN TWTR TSLA C HPQ TWX INTC AMZN according to Track Data.
12:47 EDTGOOGYahoo falls after results disappoint, details additional plans for Alibaba stake
Shares of media and search engine company Yahoo (YHOO) are falling after the company's second quarter results fell short of analysts' consensus estimates. The company also said it will lower the amount of stock it will sell in Alibaba's initial public offering to 140M shares and that it plans to return "at least half" of its after-tax proceeds from the stake sale to its shareholders. WHAT'S NEW: Last night, Yahoo reported Q2 earnings per share of 37c and revenue ex-tac of $1.04B, narrowly missing analysts' consensus estimates of 38c and $1.08B, respectively. The company's Q2 display ad revenue fell 7% to $394M, while Q2 price per ad fell 24% versus last year. Q2 search revenue ex-tac increased 6% to $428M. Yahoo said that in Q2, the number of ads sold increased approximately 24% compared to last year, while the number of paid clicks increased approximately 3%. Price-per-click increased 15% compared to last year. Marissa Mayer, Yahoo's Chief Executive Officer, said that as the company's top priority is revenue growth, it is "not satisfied" with Q2 results. Mayer noted that several areas showed strength in the quarter, including Yahoo Search, which grew 6% year-over-year on a revenue ex-tac basis, but their growth was offset by declines. Meyer says the company needs to "work faster to ameliorate" negative trends in display. Mayer says the company "can and will do better" going forward. WHAT'S NOTABLE: Looking ahead, Yahoo forecast third quarter revenue ex-tac of $1.02B-$1.06B, below the consensus of $1.1B. The company also guided Q3 adjusted earnings before interest, taxes, depreciation and amortization, or EBTIDA, at $220M-$260M and non-GAAP operating income of $70M-$110M. Yahoo also noted that it will lower the number of shares it sells in the Alibaba IPO to 140M from 208M, and is committed to return at least half of the after-tax IPO proceeds to shareholders. Mayer noted on the company's earnings conference call that "A transformation of this size will take several years," adding that "it will take a little longer than originally forecasted." ANALYST REACTION: This morning, research firm CRT Capital downgraded Yahoo to Fair Value from Buy, citing mixed Q2 earnings and weak guidance. The firm sees pressure on ad pricing continuing for at at least two to three quarters. Another firm, Bernstein, lowered their price target on Yahoo to $40 from $43 following the company's weaker than expected results and said that it would return 50% of its proceeds from the Alibaba IPO to shareholders. The firm thinks there is an increased risk that Yahoo will use the other 50% on M&A, and Bernstein sees high risk that the M&A will destroy value. Bernstein kept an Outperform rating on the stock. Piper Jaffray said Yahoo should be owned ahead of the Alibaba IPO, noting its agreement with Alibaba to reduce the number of shares it will sell at the IPO should outweigh the "unsurprising" challenges in the company's core business. The firm, which kept an Overweight rating on the stock, expects the stock to react positively on the Q2 earnings report. PRICE ACTION: In early afternoon trading, Yahoo fell $1.66, or about 4.7%, to $33.95 on heavy trading volume. Despite today's pull back, the stock is up approximately 25% over the past 12 months. OTHERS TO WATCH: Yahoo peer AOL (AOL) is down over 4.% to $38.98. Jackie Reses, Yahoo's chief of mergers and acquisitions, said at the Fortune Brainstorm Tech Conference that the company is not planning to buy AOL, Re/code reported this morning. Mayer previously told a number of people that she does not "get" the merger.
12:26 EDTAAPL, BACOn The Fly: Midday Wrap
Subscribe for More Information
12:07 EDTAAPLApple, IBM rise after agreeing to collaborate on mobile products
Subscribe for More Information
12:05 EDTAAPLNew York AG enters E-Book price fixing settlement with Apple
Subscribe for More Information
12:01 EDTAAPLNew York AG announces e-book price settlement with Apple
Subscribe for More Information
11:28 EDTCLeon Cooperman gives 12 stock picks at CNBC conference
Subscribe for More Information
11:16 EDTCCooperman lists Actavis, Citigroup, KKR among top-picks, CNBC says
Subscribe for More Information
10:58 EDTGOOG, AAPLSamsung in talks to buy SmartThings for about $200M, TechCrunch reports
Samsung is in talks to acquire SmartThings, a company in the home automation space that allows users to connect devices like lights and doorlocks to a system controlled by their mobile phone, TechCrunch reports. The purchase price is said to be around $200M. Reference Link
10:14 EDTBACBofA said to offer $13B to settle mortgage-securities probe, WSJ reports
Subscribe for More Information
10:00 EDTAAPLOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Airlines (AAL) initiated with an Overweight at Atlantic Equities... Apple (AAPL) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Neutral at RW Baird... Brookdale Senior Living (BKD) initiated with a Buy at Goldman... CA Technologies (CA) initiated with a Market Perform at FBR Capital... Dresser-Rand (DRC) initiated with a Neutral at RW Baird... Fortinet (FTNT) initiated with a Neutral at Goldman... Frank's International (FI) initiated with a Hold at Jefferies... Home Bancorp (HBCP) initiated with an Outperform at Fig Partners... Key Energy (KEG) initiated with an Outperform at RW Baird... McDermott (MDR) initiated with a Neutral at Tigress Financial... ORBCOMM (ORBC) initiated with a Neutral at Macquarie... Oil States (OIS) initiated with an Outperform at RW Baird... PBF Energy (PBF) initiated with an Equal Weight at Barclays... Palo Alto (PANW) assumed with a Conviction Buy at Goldman... Proofpoint (PFPT) initiated with a Buy at Goldman... Qlik Technologies (QLIK) initiated with a Market Perform at FBR Capital... Radius Health (RDUS) initiated with a Buy at Canaccord... Seventy Seven Energy (SSE) initiated with a Hold at Jefferies... Superior Energy (SPN) initiated with an Outperform at RW Baird... Tandem Diabetes (TNDM) initiated with an Outperform at William Blair... Trecora Resources (TREC) initiated with a Buy at B. Riley... Ultragenyx (RARE) initiated with an Outperform at RW Baird... United Natural Foods (UNFI) initiated with an Outperform at Oppenheimer... Viper Energy (VNOM) initiated with a Market Perform at Northland... Whiting Petroleum (WLL) initiated with a Buy at Tigress Financial.
09:37 EDTBAC, C, AAPLActive equity options trading on open
Subscribe for More Information
09:37 EDTAAPLPhoto claims to show iPhone 6 Touch ID component, Business Insider says
Subscribe for More Information
09:23 EDTAAPLOn The Fly: Pre-market Movers
HIGHER: Time Warner (TWX), up 15% after company confirmed that it rejected an $80B takeover offer from 21st Century Fox (FOX, FOXA), as had been reported earlier this morning... Apple (AAPL), up 2% after announcing an enterprise mobile partnership with IBM (IBM), which is also up 2%... International Game (IGT), up 9.5% after agreeing to be acquired by GTECH for $4.7B in cash and stock... FireEye (FEYE), up 5% after shares upgraded at Goldman... Precision Drilling (PDS), up 4% after announcing strategic agreement with Schlumberger (SLB), upgraded at Deutsche Bank... Mellanox (MLNX), up 4.7% following upgrade at Jefferies. UP AFTER EARNINGS: Intel (INTC), up 5.4%... HCA Holdings (HCA), up 6%... Textron (TXT), up 3.2%... Abbott (ABT), up 1%. DOWN AFTER EARNINGS: PNC Financial (PNC), down 2.5%... MGIC Investment (MTG), down 3.6%. LOWER: Yahoo (YHOO), down 3% after downgraded at CRT Capital following second quarter earnings report... Ares Capital (ARCC), down 2.5% after filing to sell 11.85M shares of common stock... Nationstar (NSM), down 2.4% after downgraded at Wells Fargo... Walter Investment (WAC), which was also downgraded at Wells Fargo, down 1.6%.
08:51 EDTBACBank of America sees reserve releases to decline 'modestly' through rest of year
Subscribe for More Information
08:47 EDTBACBofA now sees 'New BAC" cost savings of $2B to be achieved by Q4
Subscribe for More Information
08:45 EDTBACBofA says balance sheet still positioned for NII benefit as rates move up
Subscribe for More Information
08:36 EDTBACBofA says underlying trading business performed well despite lower volumes
Subscribe for More Information
08:03 EDTAAPLApple deal with IBM could drive enterprise sales, says Canaccord
Subscribe for More Information
08:00 EDTAAPLInvenSense Orbotech look good into Q2 results, says Oppenheimer
Subscribe for More Information
07:17 EDTBACBofA/Merrill to hold a roundtable
Subscribe for More Information
07:13 EDTBACBank of America CEO says economy strengthening, customers doing more business
Subscribe for More Information
07:11 EDTBACBank of America reports $21.16 book value per share at June 30
Subscribe for More Information
07:08 EDTBACBofA reports Q2 provision for credit losses $411M, net charge-offs $1.1B
Subscribe for More Information
07:05 EDTBACBofA sees Basel 3 common equity tier 1 ratio up to 9.5%
Subscribe for More Information
07:04 EDTBACAIG to receive $650M in cash in Bank of America settlement
Subscribe for More Information
07:02 EDTBACBank of America reports Q2 EPS ex-items 41c, consensus 29c
Reports Q2 revenue $21.75B, consensus $21.61B. Results include litigation expense of $4.0B pretax or approximately 22c per share after tax.
07:02 EDTBACAIG announces settlement with BofA on residential mortgage related disputes
American International Group (AIG) announced that it has reached a global resolution of its residential mortgage related disputes with Bank of America (BAC). The resolution includes its claims pending in New York and California federal courts related to the creation, offering, and sale of RMBS from which AIG and its subsidiaries suffered losses either directly on their own account or in connection with their participation in AIG’s securities lending program. The resolution also covers AIG’s objections to the $8.5 billion settlement of Countrywide’s mortgage repurchase obligations to various investors, as well as disputes concerning the issuance of mortgage guaranty insurance by AIG’s United Guaranty subsidiaries to Bank of America and Countrywide. Under the terms of the settlement, AIG will receive $650M in cash plus its pro rata share of whatever amount is ultimately paid out to investors in connection with the Countrywide repurchase settlement. In addition, the parties have agreed, subject to the approval of Fannie Mae, Freddie Mac and certain other mortgage holders, to resolve the outstanding mortgage guaranty claims disputes in accordance with agreed-to claims processes and payment formulae.
07:01 EDTBACAIG announces settlement with BofA on residential mortgage related disputes
Subscribe for More Information
06:55 EDTAAPLSurvey shows Samsung losing smartphone ground, Reuters says
Subscribe for More Information
06:38 EDTAAPLApple price target raised to $107 on enterprise opportunity at Goldman
Subscribe for More Information
06:20 EDTAAPLDRAM chip prices likely to increase 10% in July, DigiTimes reports
Subscribe for More Information
06:18 EDTAAPLApple's iPhone orders to benefit Taiwan component maker revenue, DigiTimes says
Subscribe for More Information
06:17 EDTAAPLApple initiated with a Buy at Citigroup
Citigroup believes consensus expectations are underappreciating the upgrade potential of Apple’s installed base. Citi believes Street estimates for 2015 and 2016 are too low and started shares of Apple with a Buy rating and $110 price target.
06:14 EDTAAPL, GOOGABI Research: More than 2B smartphones to ship in 2018, DigiTimes says
Subscribe for More Information
<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use