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November 27, 2015
09:36 EDTTSLA, AAPLActive equity options trading on open
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08:25 EDTVLKAYAudi engines target of focus in Volkswagen emissions crisis, WSJ says
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07:44 EDTVLKAYVW backs $7B in planned provisions despite simple fix, Reuters says
Volkswagen will not reduce planned provisions of $7.1B for the costs of the emissions test cheating scandal, though the fix for 8.5M cars in Europe has been simpler than anticipated, Reuters reports. The company is seeking as much as $21.18B in bank funding in an effort to cope with expected costs of the scandal, which certain analysts indicated could top EUR40B, the report says. Reference Link
07:08 EDTAAPLApple acquires mocap maker Faceshift, TechCrunch reports
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06:46 EDTAAPLTarget lists Apple iPads among Black Friday best sellers
Target reported this morning a "successful start to its Black Friday weekend, with unprecedented results on and a strong turnout in stores on Thanksgiving Day." The retailer added, "Demand outpaced 2014's record Thanksgiving performance, making it Target's biggest day for online sales yet, driven largely by electronics." Top selling Black Friday items included Apple (AAPL) iPads, gaming consoles like including Nintendo (NTDOY) Wii U, TVs and Beats Solo 2 headphones, Target stated.
November 25, 2015
17:35 EDTVLKAYCalifornia regulator orders Volkswagen to draft recall plan for 3-liter vehicles
California's Air Resources Board has sent an "In Use Compliance" letter notifying Volkswagen (VLKAY), Audi (AUDVF), and Porsche (POAHY) to start the process to recall and repair illegal emissions software in all 3-liter diesel vehicles, model years 2009-2015, sold in California. "The companies will now have 45 business days to assemble their plan and deliver it to the Air Resources Board. This action is the result of an admission by officials at Audi, manufacturer of all the engines involved, that the vehicles contain three undisclosed auxiliary emissions control devices," said the agency. Reference Link
16:49 EDTTSLAOn The Fly: Top stock stories for Wednesday
Stocks began Wednesday in positive territory and remained higher for much of the day before dipping slightly near close. The averages moved in a narrow range as investors digested a host of economic data, including reports on consumer confidence, jobless claims and housing, none of which moved the market in any discernible way ahead of the Thanksgiving holiday. ECONOMIC EVENTS: In the U.S., several days of economic reports were compressed into a single, busy morning. Jobless claims for the week ended November 21 fell to 260,000 against expectations for 270,000 first-time claims. Personal income rose 0.4% in October, matching expectations, while spending rose 0.1% versus estimates for a 0.3% increase. Meanwhile, durable goods orders were up 3% last month versus expectations for up 1.7%. Removing transportation items showed a core reading of up 0.5% against estimates for 0.3%. The FHFA home price index rose 0.8% in September to 226.5, while Markit's services index improved to 56.5 in the flash reading for November, topping the 55.1 forecast. New home sales rose 10.7% to a 495,000 rate in October. Consumer sentiment rose to 91.3 in the final November print of the University of Michigan survey, up from October's 90.0 reading but down from the preliminary November reading of 93.1. COMPANY NEWS: Shares of HP Inc. (HPQ) and HP Enterprise (HPE) headed in opposite directions following the final combined earnings report of the recently-split companies. HP Inc., which was downgraded to Hold at research firm Needham following last night's report, ended the session down 13.63% to $12.65. Meanwhile, HP Enterprise, which also announced a cloud partnership with Microsoft (MSFT), gained 3.14% to $14.12... Deere (DE), which reported better than expected earnings and issued a 2016 sales outlook matching estimates, gained 4.79% to $80 following its quarterly report. MAJOR MOVERS: Among the notable gainers was Tesla (TSLA), which advanced $11.39, or 5.22%, to $229.64 after research firm Credit Suisse reiterated its Outperform rating and $325 price target on the shares, saying the carmaker's January volume report should positively address investor fears over its fourth-quarter performance and Model X production ramp. Also higher was American Capital (ACAS), which gained $1.32, or 9.50%, to $15.22 after expanding its stock buyback program and announcing a strategic review of the company, including a possible sale. Additionally, Veeva (VEEV) jumped 5.01% to $28.73 following its quarterly numbers, which prompted analysts at both JPMorgan and Canaccord to raise their price targets on the stock. Among the noteworthy losers was PTC Therapeutics (PTCT), which declined $2.23, or 7.02%, to $29.52 after Jefferies analyst Gena Wang downgraded the stock to Underperform, saying yesterday's FDA panel for BioMarin's (BMRN) competing muscular dystrophy drug is a negative for PTC. BioMarin, meanwhile, slipped 1.78% to $96.06 for the day, while Sarepta (SRPT), also competing in the same therapeutic space, was up fractionally to $37.49. Also lower were SunEdison (SUNE) and TerraForm Power (TERP), which crashed a respective 21.6% and 17.67% after research firm UBS downgraded both stocks on "considerable" risks suggested by recent management changes at Terraform. TerraForm Global (GLBL), meanwhile, plunged 21.26% to $4.11. Separately, Dow Chemical (DOW) slipped 2.72% to $51.93 after the EPA withdrew approval for the company's Enlist Duo herbicide. INDEXES: The Dow rose 1.20, or 0.01%, to 17,813.39, the Nasdaq gained 13.33, or 0.26%, to 5,116.14, and the S&P 500 slipped 0.27, or 0.01%, to 2,088.87.
16:01 EDTAAPL, TSLAOptions Update; November 25, 2015
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14:57 EDTAAPLApple to launch OLED iPhones by 2018, Nikkei says
Apple (AAPL) plans to use so-called organic light-emitting diode displays, or OLED, in its iPhones beginning in 2018, reports the Nikkei. The company has notified suppliers, with LG Display (LPL) already starting to plan for capacity upgrades, according to the report. The publication contends that securing enough screens to meet global demand for iPhones will "likely" be difficult, leading Apple to potentially offer OLED iPhones alongside standard LCD models. Reference Link
09:36 EDTAAPL, TSLAActive equity options trading on open: AAPL TSLA TGT TSN FB
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09:31 EDTAAPLSupply chain talks point to Q1 iPhone units of 75M-80M, says Cleveland Research
Cleveland Research said its recent talks with members of Apple's supply chain suggest iPhone units in the December quarter are still tracking for year-over-year growth, with units trending in the 75M-80M range. Talks still suggest a softening in the March quarter, the research firm added. Cleveland Research keeps a Neutral rating on Apple shares.
08:37 EDTTSLATesla early January volume report should ease concerns, says Credit Suisse
Credit Suisse analyst Dan Galves said he expects short-term worries currently plaguing Tesla Motors, namely Q4 volume concerns and fears about the Model X production ramp, to be positively addressed by early January when Tesla discloses its volumes for the quarter. Galves, who thinks it is possible for Tesla to reach 17,000 units in the quarter and views Monday's release of full Model X specs and pricing as a sign that a production ramp is "in sight," keeps an Outperform rating and $325 price target on Tesla shares.
08:37 EDTNSANY, TMToyota to recall Takata air bag inflators previously ruled safe, NY Times says
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08:31 EDTVLKAYVolkswagen reiterates $4.4B Spain investment plan, Reuters reports
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06:29 EDTHMC, F, NSANY, TMTakata manipulated air bag testing data as early as 2000, NY Times reports
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05:58 EDTNSANY, TMToyota recalls 1.6M cars after Nissan air bag injury, Bloomberg reports
Toyota (TM) reissued a recall for 1.6M cars in Japan over Takata air bags, reports Bloomberg. The recall comes after a component that was deemed safe in a Nissan (NSANY) vehicle ended up injuring a passenger last month. Reference Link
November 24, 2015
16:00 EDTAAPLOptions Update; November 24, 2015
iPath S&P 500 VIX Short-Term Futures up 13c to 19.04, Option volume leaders: AAPL FB NFLX BAC PFE AMZN CHK TWTR GE SUNE DE AGN AAL MSFT INTC X BABA A
14:19 EDTFFord to host sales conference call
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14:14 EDTFFord to hold a conference call
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10:00 EDTDDAIFOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Avon Products (AVP) upgraded to Buy from Neutral at Citi... Box (BOX) upgraded to Buy from Neutral at BofA/Merrill... Daimler AG (DDAIF) upgraded to Buy from Neutral at UBS... Emerge Energy (EMES) upgraded on amended credit deal at Stifel... Fairmount Santrol (FMSA) upgraded to Hold from Underperform at Jefferies... IAMGOLD (IAG) upgraded to Hold from Reduce at HSBC... Kinross Gold (KGC) upgraded on acquisitions at RBC Capital... Lowe's (LOW) upgraded to Overweight from Neutral at Atlantic Equities... Nimble Storage (NMBL) upgraded on valuation at DA Davidson... Resolute Energy (REN) upgraded to Equalweight from Underweight at Capital One... Schnitzer Steel (SCHN) upgraded to Equal Weight from Underweight at Morgan Stanley... Webster Financial (WBS) upgraded to Overweight from Neutral at JPMorgan.
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