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January 17, 2013
06:07 EDTTM, TSLA, F, AAPL, BA, FIATY, NSANY, VLKAY, EADSY, GM, HMC, DDAIFOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Investors are grappling with what could be a watershed moment for Apple (AAPL). In many fund managers' eyes, the recent decline could mark Apple's transformation from a growth stock to a more plodding value stock, the Wall Street Journal reports...The power that U.S. baby boomers have exercised for some 50 years over the auto industry is starting to wane. Auto industry executives at the North American International Auto Show in Detroit this week made it clear with their designs for coming models that they are pivoting their attention—and their product strategies—toward the 20, 30 and 40-something consumers collectively known as Generations X and Y, the Wall Street Journal reports...REUTERS: PC makers, trying to beat back a tablet mania that's hurting their sales, are making what may be a last attempt to sway customers by mimicking the competition, Reuters reports...Airbus (EADSY) reported a 43% drop in orders and lost its title as the world's largest plane maker to Boeing (BA) in 2012, as it predicted improvements in orders and deliveries for 2013 as airlines look to reduce fuel costs. Adjusted for cancellations, Airbus had 833 net orders, while Boeing led on net orders with 921 aircraft, Reuters reports...BLOOMBERG: Fed officials are increasingly concerned that record-low interest rates are overheating markets for assets from farmland to junk bonds, which could heighten risks when they reverse their bond purchases, Bloomberg reports...Treasuries fell, as 10-year notes halted a four-day advance, before Commerce Department data forecast to show U.S. housing starts rose last month, adding to signs the U.S. economy is improving, Bloomberg reports.
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January 24, 2016
15:27 EDTAAPLHead of Apple's car project stepping down, Bloomberg says
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January 22, 2016
17:57 EDTAAPLApple looks cheap, poised to rise 50%, Barron's reports
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16:36 EDTAAPLOn The Fly: Top stock stories for Friday
Stocks opened sharply higher thanks to gains in oil prices and speculation on potential stimulus programs in Japan, China and the European Union. The averages had a midday swoon and lost about half of their gains, but the market was able to find a level where it reversed and regained upside momentum. The Nasdaq was the day's clear winner with gains of more than 2% and led the other indexes with its best gains of the week. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast. In Europe, Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. In Asia, Japan's Nikkei average rallied nearly 6%, with part of the strength attributed to a Nikkei Asian Review stating that the Bank of Japan is taking a "serious look" at additional easing. COMPANY NEWS: Shares of American Express (AXP) sunk 12.12% to $55.05 after the company reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors... Apple (AAPL) rose 5.32% to $101.42 after Piper Jaffray analyst Gene Munster recommended buying the iPhone maker's shares ahead of its earnings report next week, contending that the stock will rally over the next six months. Munster believes shares of Apple could achieve upside of over 50% from current levels by the iPhone 7 launch in September. MAJOR MOVERS: Among the notable gainers was Golar LNG (GLNG), which rallied 50.67% to $17.99 after it signed a memorandum of understanding with Schlumberger (SLB) to jointly market gas monetization solutions. Meanwhile, Schlumberger shares gained 6.12% to $65.21 after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs. Among the noteworthy losers was Cardiovascular Systems (CSII), which dropped 29.86% to $8.74 and was downgraded to Underperform at Needham following its quarterly earnings report. Also lower were shares of Tutor Perini (TPC), which fell 16.69% to $10.68 after the Construction & Engineering company cut its FY15 forecast and gave lower than expected guidance for the next fiscal year as well. INDEXES: The Dow gained 210.83, or 1.33%, to 16,093.51, the Nasdaq rose 119.12, or 2.66%, to 4,591.18, and the S&P 500 added 37.91, or 2.03%, to 1,906.90.
16:01 EDTAAPLActionable Options for Friday January 22
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14:46 EDTTSLAEinhorn short Tesla, Netflix, Amazon, Institutional Investor's Alpha says
Greenlight Capital's David Einhorn told attendees to his firm's annual meeting that he is making short bets against high-fliers Tesla (TSLA), Netflix (NFLX) and (AMZN), according to Institutional Investor's Alpha, citing a source who heard the presentation. Reference Link
14:44 EDTTSLADavid Einhorn short Tesla, Netflix, Amazon, Institutional Investor's Alpha says
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13:42 EDTAAPLApple iPhone upgrade program off to stable start, says Piper Jaffray
Piper Jaffray analyst Gene Munster noted that Citizen's Financial (CFG), Apple's (AAPL) financing partner for the iPhone upgrade program, reported that it had $220M in iPhone loans at the end of the year. That balance implies that Apple sold about 250,000 iPhones on the program since the iPhone 6S launch, said Munster, adding that he views this as a "stable start" for the program. Munster, who continues to think that program will help shrink the iPhone upgrade cycle in the U.S., keeps an Overweight rating and $179 price target on Apple shares.
13:35 EDTAAPLCitizens Financial reports $220M of iPhone loans made by end 2015
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10:42 EDTAAPLStocks with call strike movement; AAPL NFLX
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09:35 EDTFFord to host fixed income call
Conference call to be held on January 28 at 11 am. Webcast Link
09:34 EDTAAPLActive equity options trading on open
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09:28 EDTAAPLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: 8x8, Inc. (EGHT), up 12.5%... Intuitive Surgical (ISRG), up 2.2%. ALSO HIGHER: Apple (AAPL), up 1.9% after Piper Jaffray's Gene Munster says that Apple could rally over 50% by September... Chesapeake Energy (CHK), up 6.4% after announcing that it is suspending its quarterly preferred stock dividends... NephroGenex (NRX), up 27.3% after the independent Data and Safety Monitoring Board recommendation to continue the Pyridorin study... Avon Products (AVP), up 4.4% after being upgraded to Overweight from Neutral at Piper Jaffray... Freeport-McMoRan (FCX), up 6.7% after Reuters reports that Indonesia asked the company to set aside another $530M into an escrow account for the miner to extend its permit to export copper concentrate. DOWN AFTER EARNINGS: American Express (AXP), down 6.9%... Starbucks (SBUX), down 2.6%... Cardiovascular Systems (CSII), down 32.3%... GE (GE), down marginally. ALSO LOWER: Barrick Gold (ABX), down 3.4% after giving fourth quarter and fiscal 2015 production guidance and announcing potential asset impairment charges of $1B-$1.2B.
08:52 EDTBABoeing will not be hurt by lower 747 demand, says Stifel
After Boeing announced that it plans to reduce the 747-8 production rate to 0.5 per month from 1 per month, Stifel says that higher demand for Boeing's fuel-efficient, twin jet 777, 787 and A350 XWB planes should more than offset the decline in demand for the 747. The firm thinks that the move could result in margin gains for Boeing and Triumph Group (TGI). It keeps a $175 price target and Buy rating on Boeing.
07:29 EDTAAPLApple iPhone sales likely to come in at low 50M range in Q1, says Stifel
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07:02 EDTAAPLApple volatility elevated into Q1 and outlook
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06:36 EDTAAPLApple suppliers expect drop in iPhone orders, Reuters reports
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06:33 EDTAAPLApple got $1B from Google to maintain search bar on iPhone, Bloomberg says
Google (GOOG) paid Apple (AAPL) $1B in 2014 to keep its search bar on the iPhone, Bloomberg reports, citing a transcript of court proceedings from Oracle's (ORCL) copyright suit against Google. Google has a pact with Apple that gives the iPHone maker a percentage of the revenue Google brings in through the Apple device, the report says, citing an attorney for Oracle at the hearing. Reference Link
06:05 EDTAAPLPiper's Munster says Apple could rally over 50% by September
Piper Jaffray analyst Gene Munster recommends buying shares of Apple into the company's earnings report on January 26. Over the next six months, the stock will rally on the iPhone number change cycle and experience multiple expansion, the analyst tells investors in a research note. Munster believes shares of Apple could achieve upside of over 50% from current levels by the iPhone 7 launch in September. Apple has traded at a lower multiple than today in only one month, April 2013, over the past 120 months or 10 years, Munster writes. He believes the "historic multiples" being applied to Apple right now imply that bad news is being priced in. The analyst keeps an Overweight rating on the iPhone maker with a $179 price target. Apple closed yesterday down 49c to $96.30.
05:57 EDTAAPLTaiwan smartphone sales to reach 7.5M-8M units in 2016, DigiTimes reports
Smartphone sales in Taiwan are expected to stay flat at 7.5M-8M units in 2016, reports DigiTimes. According to sources from local retail channels, the proportion of sales of high-end models will continue to fall, which will push vendors to focus on renovation and differentiation, while also strengthening their deployments in new products. Reference Link
05:57 EDTAAPLApple hires top researcher in virtual reality, Financial Times reports
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