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Stock Market & Financial Investment News

News Breaks
April 17, 2013
16:32 EDTALKS, TXT, EOPN, AAPL, BAC, ACUR, CRUS, ENDPOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower as the S&P and Nasdaq gave back all of yesterday's gains. The Dow returned almost all of yesterday's advance, logging its third consecutive triple-digit move. ECONOMIC EVENTS: The Federal Reserve's Beige Book, released this afternoon, said that economic activity expanded at a moderate pace, which was in-line with expectations. In Europe, Germany's top central banker said it may take Europe a decade to recover from its debt crisis and ratings agency Egan Jones reportedly cut its rating on Germany to A from A+. COMPANY NEWS: Apple's (AAPL) shares fell below $400 during the session and closed down $23.44, or 5.5%, at $402.80. One of the company's suppliers, Cirrus Logic (CRUS), estimated that revenue for its current quarter would be significantly below expectations, reinforcing expectations from some analysts that second quarter iPhone shipments will be much lower than in the first quarter. Cirrus shares lost $3.36, or 15.69%, to $18.05 following its warning and a number of other suppliers with exposure to Apple's supply chain fell also... Bank of America (BAC) reported headline earnings that missed consensus, though its revenue topped expectations. The bank also announced it has agreed to a $500M settlement in principle that would dismiss more suits brought against its Countrywide unit related to residential mortgage-backed securities. BofA was the Dow's worst performer following its quarterly report, falling 58c, or 4.72%, to $11.70. MAJOR MOVERS: Among notable gainers were shares of Acura Pharma (ACUR), up 73c, or 33.95%, to $2.88, and Endo Health (ENDP), up $1.10, or 3.16%, to $35.96 after the FDA announced it will not approve generic versions of non-tamper-resistant OxyContin. Also higher was Alkermes (ALKS), up $4.12, or 16.09%, to $29.72 after reporting preliminary results from a study of a drug candidate for major depressive disorder. Among the noteworthy losers was E2open (EOPN), down $4.49, or 24.18%, to $14.08 after its earnings and guidance fell well short of expectations. Also lower were shares of Textron (TXT), down $3.94, or 13.42%, to $25.41 after the company reported first quarter results that missed expectations and it cut its full-year view... INDICES: The Dow was down 138.19, or 0.94%, to 14,618.59; the Nasdaq was down 59.96, or 1.84%, to 3,204.67; and the S&P 500 was down 22.56, or 1.43%, to 1,552.01.
News For AAPL;CRUS;BAC;ENDP;ACUR;ALKS;EOPN;TXT From The Last 14 Days
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July 21, 2015
16:31 EDTAAPLApple reports Q3 gross margin 39.7% vs. 39.4% last year
International sales accounted for 64% of the quarter’s revenue.
16:30 EDTAAPLApple sees Q4 revenue $49B-$51B, consensus $51.05B
Sees Q4 gross margin 38.5%-39.5%.
16:30 EDTAAPLApple reports Q3 EPS $1.85, consensus $1.81
Reports Q3 revenue $49.6B, consensus $49.31B.
16:01 EDTBAC, AAPLOptions Update; July 21, 2015
iPath S&P 500 VIX Short-Term Futures down 13c to 16.20. Option volume leaders: AAPL BAC FB BAC MSFT NFLX AMD IBM CHK
15:56 EDTAAPLApple July weekly 131 straddle priced for 5.2% movement into Q3
15:02 EDTAAPLNotable companies reporting after market close
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14:14 EDTAAPLEarnings Watch: Apple flat since last report with iPhone, Watch results in focus
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13:43 EDTAAPLApple services restored after nearly 4-hour outage, CNBC reports
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13:21 EDTAAPLApple July weekly 131 straddle priced for 4.7% movement into Q3
11:39 EDTAAPLApple experiencing issues with App Store, iTunes Store, CNBC reports
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10:14 EDTTXTHigh option volume stocks:
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10:05 EDTAAPLApple technical notes ahead of results
The stock has been trading in a range since February of this year that is bound by a low at $120 and a high at $133. There have been three touches at the range high since then and two tests at the low suggesting the bias is for a breakout. If the news is strongly bullish, notably around China sales and guidance, a breakout above $133 and the brief life high at $134.54 would be highly probable. Based on the height of the range the upside potential would be to $147 to $150. Without overhead resistance, price could continue to drift beyond that objective depending on the strength of the news. If the news is a bearish surprise, which very few expect, the low of the range would likely be tested for a third time. A breakdown below $120 would have the same range expectations as on the upside, with a downside target potential to $107 to $105 implied from the range height. Such a move would break the 10-month moving average at $122.16 which has been a good proxy for the uptrend that began off lows in August 2013. The last time this average was broken was during the downturn in price in late 2012 which then ended in August 2013.
09:35 EDTBAC, AAPLActive equity options trading on open
Active equity options trading on open: AAPL FB IBM TSLA BAC PVA NFLX
07:45 EDTAAPLSell PayPal amid mounting payments competition, Piper says
Shares of PayPal (PYPL) advanced over 5% yesterday in the stock's first day of trading following a split from eBay (EBAY), with the majority of research firms issuing optimistic notes on its prospects. This morning, however, analyst Gene Munster of Piper Jaffray recommends selling the share as competition grows in the digital payments space. BEARS: Munster started shares of PayPal with an Underweight rating, the firm's equivalent of a "Sell," saying increased competition could pressure the stock's multiple over the next 6-24 months. Google's (GOOG) Android Pay and Apple's (AAPL) Apple Pay will give consumers a "real alternative to PayPal" for the first time, Munster tells investors in his research note. In addition, interest in payments from Amazon.com (AMZN) and Facebook (FB) bring potential for more digital wallet offerings, the analyst notes. Munster set a $30 price target for PayPal. Of note, Evercore ISI also started coverage of PayPal shares yesterday with a Sell rating. BULLS: Wells Fargo initiated coverage of PayPal yesterday with an Outperform rating, saying the company's unique assets will enable it to maintain its leadership role in digital payments and benefit from the growth of e-commerce. Also upbeat was Robert W. Baird analyst Colin Sebastian, who contends that PayPal has the top pure play online payment system and is continuing to grow its share of the Internet payment market. PayPal should be able to innovate more effectively after its spin-off, added the analyst, who set a $45 price target on the shares. PRICE ACTION: Shares of PayPal are pointing toward further gains in their second day of standalone trading, with the stock up about 2.7% to $41.55 in pre-market trading.
07:38 EDTAAPLApple July weekly volatility elevated into Q2 and outlook
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07:00 EDTAAPLApple granted patent for 'fine tuning' input taps, AppleInsider reports
A patent granted to Apple by the USPTO involves a method of highly granular user interface manipulations by tapping on the side of an iPhone to "nudge" onscreen items with great precision, reported AppleInsider. Reference Link
06:46 EDTAAPLApple July weekly 132 straddle priced for 4.7% movement into Q3
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06:23 EDTAAPLApple's iPhone 6s will cut 16GB version, M.I.C. Gadget reports
Apple's (AAPL) new iPhone 6s and 6s Plus will not come with a 16GB edition yet will have a 32GB edition with more capacity, M.I.C. Gadget reports, citing "some Foxconn (FXCNY) insiders." Reference Link
06:19 EDTAAPLSilicon Valley giants side with Samsung in battle with Apple, InsideSources says
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05:34 EDTAAPLPayPal initiated with an Underweight at Piper Jaffray
Piper Jaffray analyst Gene Munster started shares of PayPal (PYPL) with an Underweight rating saying increased competition could pressure the stock's multiple over the next 6-24 months. Underweight is Piper's equivalent of a sell rating. Google's (GOOG) Android Pay and Apple's (AAPL) Apple Pay will give consumers a "real alternative to PayPal" for the first time, Munster tells investors in a research note. In addition, interest in payments from Amazon.com (AMZN) and Facebook (FB) bring potential for more digital wallet offerings, the analyst notes. Munster set a $30 price target for PayPal, which began trading yesterday following a spinoff from parent company eBay (EBAY). Shares of the online payment system closed Monday up $2.08 to $40.47.
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