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News For AAPL;DDAIF;VLKAY;F;HMC;NSANY;TSLA;GM;FIATY;TM;EADSY;BA From The Last 14 Days
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July 24, 2014
06:44 EDTFFord Credit sees FY14 pre-tax profit to be higher than 2013
Ford Credit also now expects year-end managed receivables of $112 billion to $115 billion, up from prior guidance of about $110 billion. Ford Credit continues to expect managed leverage in the range of 8:1 to 9:1, and distributions to its parent of about $250 million.
06:43 EDTFFord Credit reports Q2 pre-tax profit of $434M, net income $264M
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06:42 EDTFFord reports Q2 Total Automotive wholesale volume down 1%, revenue down 2%
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06:42 EDTFFord 'on track' for a solid year, 'higher volumes, revenues in 2015 and beyond'
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06:41 EDTFFord sees FY14 North America pre-tax profit to be lower than 2013
Sees North America operating margin in 8%-9% range. The companyís guidance includes 13 weeks of production downtime this year for the launch of the new F-150, including the summer shutdown at Fordís Dearborn and Kansas City plants. Ford expects South America to incur a larger loss in FY14 than previously guided. It now expects the rest of the year for South America to be about breakeven to a loss due to lower-than-expected industry volumes and weaker currencies. The volatility in the region, including potential currency devaluations, adds uncertainty to short-term projections. Ford sees Q2 Europe pre-tax profit of $14M, due to lower costs and favorable exchange. Restructuring costs were lower than a year ago, primarily due to a reserve release this quarter associated with its Cologne investment agreement and non-recurrence of a facility write-off in Genk last year. Fordís full-year guidance for Europe remains unchanged, with the region expected to improve pre-tax results compared with 2013. Ford expects Europeís second half loss to be higher than the first half loss of $180 million. Lower second half wholesale volumes of about 100,000 units include the effect of summer shutdowns in the third quarter and year-end shutdowns in the fourth quarter. Fordís full-year guidance for Middle East & Africa remains unchanged, with the region expected to be about breakeven with quarterly variability driven by factors such as the timing of production, mix of vehicles and long shipping times. Asia Pacific reported a second quarter pre-tax profit of $159M. For the full year, Ford continues to expect Asia Pacific to earn a higher pre-tax profit than a year ago. Ford expects full year results will be strong for the region, with third and fourth quarter results down from second quarter.
06:36 EDTFFord backs FY14 pre-tax profit guidance of $7B-$8B
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06:07 EDTBABoeing downgraded to Neutral from Buy at BofA/Merrill
July 23, 2014
18:03 EDTAAPLInvestors shouldn't wait too long to buy Apple, Barron's says
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17:01 EDTAAPL, BAOn The Fly: Closing Wrap
Stocks began the session mixed and remained that way throughout the trading day, with the Nasdaq the leader and the Dow the laggard. The tech-heavy Nasdaq was helped by a post-earnings rise in shares of Apple (AAPL), while the blue-chip index was weighed down by Boeing's (BA) under-performance following its own quarter report. There was little movement in the averages during the day as they remained in a narrow range, but the increase in the S&P 500 did manage to push it to a new all-time closing high. After the bell, investors will receive the next wave of earnings with AT&T (T), Facebook (FB) and Qualcomm (QCOM) scheduled to report. ECONOMIC EVENTS: In the U.S., MBA's mortgage market index rose 2.4%, with a 0.3% rise in the purchase index and a 4.1% gain in the refinance index for the week ended July 18. Also, the International Monetary Fund predicted that U.S. economic growth for 2014 as a whole will be a disappointing 1.7%. However, barring unforeseen shocks, 2015 growth should accelerate to the fastest annual pace since 2005, propelled by strong consumption growth, a declining fiscal drag, a pickup in residential investment, and easy financial conditions, said the IMF. COMPANY NEWS: Shares of Apple advanced $2.47, or 2.61%, to $97.19 after reporting third quarter earnings that beat expectations. However, the iPhone maker's revenue came in a bit short of analyst expectations for its just completed quarter and its guidance for sales in the new quarter was also below expectations. Piper Jaffray analyst Gene Munster said Apple's September quarter guidance suggests an iPhone 6 launch on September 26, versus the firm's prior expectation for a September 19 launch. Piper views Apple's Q3 results as removing the last major variable ahead of the iPhone and iWatch launches later this year and reiterates an Overweight rating on the stock. Another research firm, Janney Capital, said Apple did not address rumored new products, like the iPhone 6 and iWatch, on its earnings call, but did indicate that its wider than normal revenue guidance range was due to "many moving pieces," suggesting one or two new products may be introduced, but late in the quarter... Dow component Boeing sank $3.03, or 2.34%, to $126.71 despite reporting "core" EPS that beat expectations and raising its fiscal year earnings outlook to a range above the Wall Street consensus. Boeing's revenue missed expectations, however, and it also reported its total company backlog of $440B was unchanged from the beginning of the quarter... Another Dow member, McDonald's (MCD), fell 92c, or 0.96%, to $95.35 after the company reported weaker than expected second quarter results yesterday and its stock was downgraded by at least five research firms. MAJOR MOVERS: Among the notable gainers was Puma Biotechnology (PBYI), whose stock surged $174.40, or 295.44%, to $233.43 after the company reported positive data for its breast cancer drug and an analyst at Citigroup said that the company would probably become a takeover target. Also higher was Intuitive Surgical (ISRG), which rose $69.47, or 17.71%, to $461.63 and was upgraded at both Raymond James and Stifel after the company reported better than expected Q2 results. Among the noteworthy losers was Xilinx (XLNX), which tumbled $6.89, or 14.31%, to $41.26 after the company reported lower than expected first quarter revenue and forecast that its sales could drop as much as 4% in Q2 versus Q1. After the report, analysts at William Blair, Bank of America Merrill Lynch and BMO Capital all downgraded the stock. Also lower were shares of Juniper Networks (JNPR), which fell $2.39, or 9.63%, to $22.43 and was also downgraded at Bank of America Merrill Lynch after its Q3 guidance missed expectations. INDEXES: The Dow slid 26.91, or 0.16%, to 17,086.63, the Nasdaq rose 17.68, or 0.4%, to 4,473.70, and the S&P 500 gained 3.48, or 0.18%, to 1,987.01.
16:00 EDTTSLA, AAPLOptions Update; July 23, 2014
iPath S&P 500 VIX Short-Term Futures up 23c to 28.17. Option volume leaders: AAPL FB C GILD MSFT PBR NFLX AMZN TWTR TSLA according to Track Data
15:30 EDTF, GMNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Ford (F), consensus 36c; General Motors (GM), consensus 58c; Potash (POT), consensus 46c; Caterpillar (CAT), consensus $1.52; 3M (MMM), consensus $1.91; Union Pacific (UNP), consensus $1.43; Bristol-Myers Squibb (BMY), consensus 44c; Eli Lilly (LLY), consensus 65c; Celgene (CELG), consensus 89c; Precision Castparts (PCP), consensus $3.35; Raytheon (RTN), consensus $1.59; Noble Energy (NBL), consensus 79c; Hershey (HSY), consensus 76c; Southwest Airlines (LUV), consensus 61c; Boston Scientific (BSX), consensus 19c; JetBlue (JBLU), consensus 19c.
15:02 EDTFFord July weekly 18 straddle priced for 2.7% move into Q2
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14:56 EDTFFord technical commentary ahead of results
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14:47 EDTAAPLEarnings Preview: Qualcomm reports after Goldman takes off 'Conviction Buy' list
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14:02 EDTF, GMEarnings Preview: Ford approaches 52-week high ahead of Q2 report
Ford Motor Co. (F) is expected to report second quarter earnings on Thursday, July 24, before the market open with a conference call scheduled for 8:30 am ET. Ford is a manufacturer and distributor of cars and trucks across six continents. EXPECTATIONS: Analysts are looking for earnings per share of 36c on revenue of $36.26B, according to First Call. The consensus range for earnings per share is 31c-43c on revenue of $34.65B-$39.42B. LAST QUARTER: Ford reported first quarter adjusted EPS of 25c against estimates for 31c on revenue of $35.9B against estimates for $34.06B. On its Q1 earnings report, the company said its plan for FY14 automotive revenue to be about equal to FY13's $139.4B is on track. It said FY14 operating margin and operating related cash flow plans are on track as well. The company maintained its view for U.S. and China industry volumes, but increased its view for EU 20 industry volume this year to 14M-15M from 13.5M-14.5M. The company expects second quarter production to be 1.7M units, up 32,000 units from a year ago, more than explained by higher volume in Asia Pacific. Compared with the first quarter, second quarter production is up 87,000 units. On its Q1 earnings conference call, Ford said it expects the remaining quarters of year to be 'substantially better' than Q1. On May 1, Ford announced CEO Alan Mulally was retiring and would be replaced by Mark Fields, effective July 1. On May 7, Ford announced a $1.8B stock repurchase plan. On June 24, Ford's Americas Chief Joe Hinrichs said the company was on schedule for its aluminum bodied 2015 Ford F-150 pickup truck. STREET RESEARCH: Street research has been mostly positive in the weeks leading up to Fords's Q2 earnings report. On April 28, Craig-Hallum upgraded Ford to Buy from Hold based on balance sheet, earnings profitability and dividend yield, and the upcoming 2015 F-Series launch. The firm raised its price target on the shares to $21 from $16. On May 15, Buckingham said Ford shares should be sold. Buckingham recommended buying GM's (GM) shares aggressively and selling Ford's stock. The firm reported that GM's performance in May had significantly outpaced that of Ford, while GM's full-size pickup sales had risen year-over-year. The firm kept a Buy rating on GM and a Sell rating on Ford. PRICE ACTION: Ford's shares have traded 13% higher since its Q1 report and are approaching their 52-week high of $18.08. In afternoon trading ahead of Thursday's Q2 report, Ford is up about 0.4% to $17.90.
13:45 EDTGM, FEarnings Preview: General Motors to take Q2 charge up to $1.2B on recalls
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13:30 EDTGMGM announces six new recalls totaling 717,950 vehicles
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12:17 EDTBA, AAPLOn The Fly: Midday Wrap
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12:01 EDTAAPLStocks with call strike movement; AAPL HLF
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11:40 EDTEADSY, BAATR-made prop plane involved in deadly crash in Taiwan, Reuters reports
A 70-seat turboprop ATR 72 operated by TransAsia Airways crashed in tyhoon-hit Taiwan, killing 47 people, Reuters reported, citing the nation's Civil Aeronautics Administration. Reference Link
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