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Stock Market & Financial Investment News

News Breaks
August 18, 2014
16:00 EDTHD, NFLX, AMZN, TSLA, C, GILD, TWTR, AAPLOptions Update; August 18, 2014
iPath S&P 500 VIX Short-Term Futures down 99c to 27.90. Option volume leaders: AAPL C NFLX TWTR TSLA TEVA HD GILD AMZN according to Track Data.
News For AAPL;C;NFLX;TWTR;TSLA;HD;GILD;AMZN From The Last 14 Days
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August 20, 2015
06:05 EDTAMZNAmazon Web Services to open data support center in London, Financial Times says
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05:56 EDTAMZNGoogle Express to shut down two California delivery hubs, Re/code says
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August 19, 2015
19:13 EDTAAPLSamsung to ask Supreme Court to review Apple patent ruling
Samsung (SSNLF) has filed court documents indicating it will ask the U.S. Supreme Court to hear an appeal of its Apple (AAPL) patent fight. Reference Link
18:40 EDTTSLAAudi electric SUV entering production in 2018 with 310 mile range
Volkswagen's (VLKAY) Audi (AUDVF) released additional details on its forthcoming "e-tron Quattro" electric SUV. The company said "the latest battery technology" will provide a range of more than 310 miles, adding that the SUV will be "in series production from 2018." In an August 13 press release, the company said it will be partnering with LG Chem and Samsung (SSNLF) SDI on batteries for the vehicle. Note that on August 5, Tesla (TSLA) stated that its Model X crossover utility vehicle remains on track for a late Q3 launch. Reference Link
17:44 EDTAAPLApple iPhone 6s to feature stronger metal body, MacRumors says
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16:00 EDTNFLX, TWTR, AAPLOptions Update; August 19, 2015
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12:00 EDTTWTRTwitter falls, levels to watch
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11:50 EDTTSLATesla mentioned cautiously by Seeking Alpha contributor
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11:14 EDTAAPLApple to open first Middle East store this year, Bloomberg reports
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10:58 EDTCCiti to pay $15M to settle SEC charges of compliance, surveillance failures
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10:57 EDTNFLXT-Mobile promotion gives Netflix analyst greater confidence
UBS raised its price target on Netflix (NFLX) to $143 from $116, saying that its confidence in the company's outlook has improved following a promotion undertaken by T-Mobile (TMUS). WHAT'S NEW: T-Mobile recently began offering one free year of Netflix to consumers who switch to its wireless service, UBS analyst Doug Mitchelson wrote in a note to investors today. Mitchelson said that the promotion increases his confidence in the outlook for Netflix's U.S. business. Moreover, he believes that Netflix could "become a standard promotional tool" for wired and wireless broadband providers going forward. Although Netflix's stock "looks very expensive" in the near-term, the company's long-term opportunity is "extraordinary," given the potential size of the global streaming market, the analyst stated. Mitchelson's "upside case" for Netflix shares is $199 while his "downside case" is $55. The downside case assumes Hollywood starts restricting content licensing to streaming services like Netflix in attempt to slow their growth. He raised his price target on the name to $143 from $116 and kept a Buy rating on the shares. WHAT'S NOTABLE: On August 10, research firm Stifel raised its price target on Netflix to $143 from $128, saying that the company's U.S. subscriber base can reach 80M by 2024, above the midpoint of its guidance. PRICE ACTION: In mid-morning trading, Netflix fell 1% to $122.
10:26 EDTHDLowe's advances as Q2 revenue increases 4.5% from prior year
Shares of Lowe's (LOW) are advancing after the company reported second quarter revenue that increased 4.5% and a comparable store increase of 4.3%. WHAT'S NEW: Lowe's reported Q2 earnings per share of $1.20, missing analysts' estimates of $1.24, on revenue of $17.35B, slightly beating estimates of $17.27B and an increase of 4.5% from the prior year. Comparable store sales for the quarter rose 4.3%, the company said. Regarding the quarter, Robert Niblock, the company's chairman, president and Chief Executive Officer, said that the company was able to capitalize on big-ticket market share opportunities with "strong" growth in categories including outdoor power equipment and appliances. Looking ahead, the company forecast fiscal year 2015 EPS of about $3.29, above analysts' consensus estimates of $3.28, and revenue for the year up 4.5%-5% year over year. This guidance is in line with previously provided guidance. Lowe's added that it sees FY15 SSS rising 4%-4.5% over last year and it expects to add 15-20 stores in FY15. Additionally, the company sees FY15 operating margin up 80-100 basis points and expects the effective income tax rate will be approximately 38.1%. WHAT'S NOTABLE: On its earnings conference call, Lowe's noted that recovery within the housing market continues and that drivers for the improvement include disposable personal income, home prices and housing turnover. Lowe's said it expects to repurchase $3.8B of stock in 2015, in line with prior forecasts. The company said it is planning to open 70 stores in Canada by 2017. The Fly notes that Lowe's announced earlier this month plans to open its first Manhattan store "in the coming weeks." STREET RESEARCH: Following the release of the company's earnings, Baird said that it views weakness in Lowe's shares as a buying opportunity and that the company's confidence in their unchanged FY15 guidance implies significant flow-through improvement and 30%+ EPS growth over the second half of the year. Baird added that upgraded online/project management functionality and installation/delivery optimization capabilities coming in 2015 show that progress on providing a seamless shopping experience for consumers should continue. In addition, Bank of America Merrill Lynch reiterated its Buy rating on the Lowe's shares due its view of the company as a beneficiary of the consumer shift into bigger ticket purchases, which should sustain comp growth. OTHERS TO WATCH: Lowe's peer Home Depot (HD) yesterday reported Q2 adjusted EPS of $1.71, in line with analysts' consensus estimates of $1.71, on revenue of $24.83B, relatively in line with the consensus estimate of $24.69B. Home Depot said SSS rose 4.2%, with U.S. SSS up 5.7%. The company also raised its FY15 EPS growth view to 13% from 11%-12%, with analysts expecting $5.27, and its FY15 sales growth view to 5.2%-6% from 4%-4.6%, with analysts expecting $87.02B. PRICE ACTION: In morning trading, shares in Lowe's are up 0.63% to $73.50. Meanwhile, Home Depot is up 0.14% to $122.96.
10:06 EDTCCiti reports July credit loss 2.33% vs. 2.49% last month
Reports July delinquencies 1.46% vs. 1.42% last month.
09:33 EDTAAPL, NFLX, TWTRActive equity options trading on open
Active equity options trading on open: AAPL BAC FB BA TWTR NFLX WMT BABA
07:52 EDTAAPLAnalog Devices growth being driven by Apple, says Jefferies
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07:42 EDTAMZNPhoenix Amazon warehouse evacuated due to chemical leak, ABC15 says
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07:17 EDTHDHome Depot price target raised to $138 from $129 at UBS
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06:35 EDTAAPLApple Stores to shift iPod stock to shelves, drop iPad smart signs, 9to5Mac says
Apple plans to make changes at its stores by relocating iPod stock to accessory shelves and removing iPad-based Smart Signs, 9to5Mac reports, citing several Apple Retail managers briefed on the plans. Apple will start to roll out these changes overnight on Tuesday of next week in the U.S., the report says. Reference Link
06:24 EDTCCiti to give back additional $4.5M in fee overcharges, Reuters reports
Citigroup subsidiary Citigroup Global Markets has reached an agreement with the New York attorney general to return $4.5M in account management fees charged on roughly 15,000 frozen accounts, Reuters reports. As a result of the deal, more than $20M will be refunded to Citi customers for overcharges in a probe started by New York attorney general Eric Schneiderman, the report says. Reference Link
06:01 EDTNFLXNetflix price target raised to $143 from $116 at UBS
UBS analyst Doug Mitchelson raised his price target for Netflix (NFLX) shares to $143 after increasing his longer term revenue assumptions. The streaming service closed yesterday down $1.31 to $124.05. Mitchelson upped his 2020-2026 revenue estimates to reflect his belief that Netflix will successfully monetize its streaming platform beyond just monthly subscription fees, such as bundling and promoting third party services. He has increased confidence in the company's U.S. growth outlook after T-Mobile (TMUS) just launched a promotion for its wireless service that included one free year of Netflix. As competition among broadband providers intensifies, Netflix's inexpensive monthly streaming service could become one of the standard promotional tools, Mitchelson tells investors in a research note. The analyst's "upside case" for Netflix shares is $199 while his "downside case" is $55. The downside case assumes Hollywood starts restricting content licensing to streaming services like Netflix in attempt to slow their growth. Mitchelson keeps a Buy rating on Netflix.
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