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News Breaks
January 14, 2013
Stocks on Wall Street were mixed at midday, with the Dow clinging to modest gains and Apple's (AAPL) decline weighing on the Nasdaq. The earnings calendar, like the economic calendar, was light today but earnings season will pick up in earnest this week with reports due from some of the biggest names in the financial industry, including JPMorgan (JPM), Citibank (C), Bank of America (BAC), Morgan Stanley (MS), Goldman Sachs (GS), U.S. Bancorp (USB) and Capital One (COF)... ECONOMIC EVENTS: In the U.S., no major economic data was reported. After the close, Federal Reserve Chairman Ben Bernanke is scheduled to speak at the University of Michigan, which will be closely monitored by those on the Street... COMPANY NEWS: Shares of Apple are down about 3% but back above the psychologically and technically important $500 level near noon after a dip below that round number at the open. The weakness has been attributed to a Wall Street Journal report from over the weekend citing sources that claim Apple has cut its orders for iPhone 5 components due to weak demand. The report also dented several of Apple's component suppliers, including Cirrus Logic (CRUS), down 8%, TriQuint (TQNT), down 1%, and Qualcomm (QCOM), also down 1%... UPS shares rose over 1% after the company announced it will drop its pursuit of TNT Express (TNTEY) after concluding their proposed merger would not be allowed in the EU. Following the announcement, UPS shares were upgraded to Buy at Deutsche Bank and to Market Perform at Avondale... MAJOR MOVERS: Among the notable gainers was Aurizon Mines (AZK), which rose 33% after Alamos Gold launched an offer to buy the miner for C$780M. Also higher were shares of Comverse Technology (CMVT), Verint Systems (VRNT) and Nice Systems (NICE) which all rose about 7% following a report from Globes that said Verint and Nice are in tie-up talks. Verint Systems signed a merger agreement with Comverse in August of last year. Among the noteworthy losers were hhgregg (HGG), down nearly 9% after cutting its yearly earnings view, and Qihoo 360 (QIHU), down over 5% after reports that Baidu (BIDU) is making a strategic investment in one of its key competitors. Also lower were shares of H&R Block, which slid 3.7% following a downgrade to Underweight at Morgan Stanley... INDICES: Near noon, the Dow was up 4.49, or 0.03%, to 13,492.92; the Nasdaq was down 14.84, or 0.47%, to 3,110.79; and the S&P 500 was down 3.72, or 0.25%, to 1,468.33.
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November 17, 2015
07:01 EDTAAPLGlobal Payments to offer Apple Pay support in Canada
Global Payments (GPN) said it will offer its merchants in Canada the ability to accept American Express (AXP) payments made with Apple (AAPL) Pay. As an Apple Pay-qualified payment provider, Global Payments' robust suite of payments solutions is fully enabled for Apple Pay acceptance, allowing merchants to offer their customers the convenience of Apple Pay acceptance in-store, in-app and on-the-go.
06:12 EDTBIDUBaidu to partner with Citic Bank to launch online bank, Financial Times reports
Baidu will partner with Citic Bank to launch an online bank, reports the Financial Times. China Citic Bank had suspended its shares in Shanghai and Hong Kong on Monday pending announcement of a "proposed external investment" while Baidu said it would make an announcement on Wednesday. Reference Link
05:33 EDTQCOMStocks with implied volatility below IV index mean; YUM QCOM
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November 16, 2015
20:42 EDTNICENICE Systems management to meet with William Blair
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17:10 EDTNICESoros took stake in Paypal, liquidated Herbalife stake
Soros Fund Management gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Paypal (PYPL), CIT Group (CIT), Schlumberger (SLB), Kraft Heinz (KHC), and Amazon (AMZN). INCREASED STAKES: Allergan (AGN), Lions Gate (LGF), Energen (EGN), Southwest Airlines (LUV), and Qunar Cayman Islands (QUNR). DECREASED STAKES: LyondellBasell (LYB), YPF (YPF), Time Warner Cable (TWC), Dow Chemical (DOW), and Monsanto (MON). LIQUIDATED STAKES: Herbalife (HLF), Lennar (LEN), DR Horton (DHI), United Continental (UAL), and Nice Systems (NICE).
16:43 EDTAAPLGreenlight Capital added Apple, sold some SunEdison
Greenlight Capital gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: CNX Coal Resources (CNXC), Garmin (GRMN), Terraform Global (GLBL), and Liberty Global (LILA). INCREASED STAKES: Apple (AAPL), Michael Kors (KORS), Dillard's (DDS), UIL Holdings (UIL), and Twenty-First Century Fox (FOXA). DECREASED STAKES: SunEdison (SUNE), Micron (MU), Voya (VOYA), Applied Materials (AMAT), and SunEdison Semiconductor (SEMI). LIQUIDATED STAKES: Citizens Financial (CFG), Lam Research (LRCX), Spirit AeroSystems (SPR), Hertz (HTZ), and Macy's (M).
16:00 EDTAAPLOptions Update; November 16, 2015
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15:53 EDTQCOMJANA Partners reduces stakes in Rackspace, Qualcomm
JANA Partners gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Mattel (MAT), Zoetis (ZTS), and Aramark (ARMK). INCREASED STAKES: ConAgra Foods (CAG). DECREASED STAKES: Rackspace (RAX), Qualcomm (QCOM), Time Warner (TWX), Starz (STRZA), and Lions Gate (LGF). LIQUIDATED STAKES: Johnson Controls (JCI), Precision Castparts (PCP), AerCap Holdings (AER), United Rentals (URI), and HD Supply Holdings (HDS).
12:35 EDTAAPLApple reaps 94% of global smartphone profits, Business Insider says
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11:11 EDTNICENICE Systems management to meet with Oppenheimer
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10:25 EDTAAPLUBS trims Apple target, says iPhone partner cut production forecast
Hon Hai, which manufactures Apple's (AAPL) iPhones, expects to assemble significantly fewer iPhones this quarter than in the same period in 2014, UBS wrote in a note to investors today. WHAT'S NEW: Hon Hai Precision Industry, also known as Foxconn, is expected to assemble 10% fewer iPhones this quarter than in the same period in 2014, said UBS analyst Steven Milunovich, citing work from fellow UBS analyst Arthur Hsieh. Previously, companies that supply force touch components for iPhones saw a 10%-15% reduction in their orders, the analyst reported. These developments "are not encouraging," but Apple had previously ordered a large number of iPhones for Q4, according to Milunovich. Overall iPhone demand "could still be decent," he believes. However, the analyst lowered his iPhone sales estimate for Apple's March quarter to 61M from 62.5M, asserting that iPhone sales on China's November 11 Singles Day holiday may have come in below expectations. Based on October search volumes, he continues to believe that demand for iPhone units in the fourth quarter of the calendar year will be 75M, in-line with the consensus outlook. Milunovich trimmed his price target on Apple to $140 from $150 but kept a Buy rating on the shares. WHAT'S NOTABLE In a note to investors on November 10, Credit Suisse reported that it was cutting its estimates for 2016 iPhone sales. The firm expects sales of the device to fall 10.4% in the first quarter versus the same period in 2015, and it predicts that iPhone sales will decline 5.5% year-over-year in 2016. Suppliers with greater than 10% exposure to Apple include Avago (AVGO), SanDisk (SNDK), Analog Devices (ADI), Broadcom (BRCM), Texas Instruments (TXN), NXP Semiconductors (NXPI) and Fairchild (FCS), Credit Suisse reported. The firm said it continues to have a negative view of the smartphone sector. PRICE ACTION: In early trading, Apple added nearly 1% to $113.34.
09:37 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL FB ORCL BAC SUNE FDX FCX EXPE NFLX MU AMZN INTC TSLA
08:46 EDTAAPL4-inch iPhone 6c may be available in middle of 2016, Cult of Mac reports
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08:44 EDTAAPLGerman watchdog launches probe into Apple, Amazon audio books pact, Reuters says
Germany's Federal Cartel Office has initiated a probe into Apple's (AAPL) arrangement with Amazon (AMZN) for buying audiobooks, Reuters reports. The watchdog said that both companies had a long-term agreement for the purchase of audio books by Apple from Amazon via Apple's iTunes, the report says. Reference Link
07:09 EDTVRNTDemand for Verint products likely to increase after attacks, says Oppenheimer
Oppenheimer believes that demand for Verint's small, mid-level and higher end security solutions is likely to increase following the Paris attacks. The firm says that orders for the company's security solutions have risen in the past following major terror attacks in Europe. It notes that Verint generates about 40% of its revenue from its government and cyber security products. Oppenheimer keeps a $65 price target and Outperform rating on the shares.
06:37 EDTAAPLApple's Cook: No plans to make 'converged' MacBook and iPad, Independent reports
Apple has no plans to build a "converged" MacBook and iPad, the Independent reports, citing CEO Tim Cook. "We feel strongly that customers are not really looking for a converged Mac and iPad," Cook said. "Because what that would wind up doing, or what we're worried would happen, is that neither experience would be as good as the customer wants. So we want to make the best tablet in the world and the best Mac in the world. And putting those two together would not achieve either. You'd begin to compromise in different ways." Reference Link
06:19 EDTAAPLApple News fails to impress publishers, Digiday reports
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06:05 EDTAAPLApple price target lowered to $140 from $150 at UBS
UBS analyst Steven Milunovich lowered his price target for Apple to $140 from $150 saying the stock's multiple is likely to be pressured until supply chain concerns are resolved. UBS analyst Arthur Hsieh indicates Hon Hai's Q4 iPhone assembly order forecast has been cut and should be down 10% year-over-year, Milunovich tells investors in a research note. The analyst is unclear what the order pullback means for iPhone shipments, but notes "it is not encouraging." Milunovich maintains his above-consensus December estimates for Apple, but trimmed his estimates for the March quarter. He keeps a Buy rating on Apple.
November 15, 2015
19:49 EDTAAPLApple CEO Cook expects 'huge' Watch sales this year, IE says
In an interview with Irish Independent published Sunday, Apple CEO Tim Cook said he expects "huge" Apple Watch sales this year. Cook added that he sees iPad sales rebounding, and said the company does not plan a combined iPad-Mac device. Reference Link
13:12 EDTBIDUBaidu shares look attractive on O2O potential, Barron's says
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