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Stock Market & Financial Investment News

News For AAPL;FB;RSH;TGT;EXPR;SNTS;LULU;GIVN From The Last 14 Days
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May 22, 2015
16:41 EDTAAPLStocks end week little changed despite weaker than expected domestic data
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16:00 EDTAAPL, FBOptions Update; May 22, 2015
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14:09 EDTTGTTarget $19M settlement with MasterCard rejected by banks, Star Tribune reports
Target (TGT) and MasterCard (MA) have both confirmed that their proposed $19M settlement over Target's data breach was not approved by the requisite 90% of banks affected, which appears to send the dispute back to a federal lawsuit that is seeking class action status, reported The Star Tribune. “At this stage we will continue to work to resolve the matter,” stated MasterCard, according to the report. Reference Link
12:21 EDTAAPLApple to focus on quality instead of new additions in OS upgrade, 9to5Mac says
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11:00 EDTAAPLIntel may be launching next-gen Skylake chips in August, Apple Insider says
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10:39 EDTAAPLData firm: Apple Watch orders haven't grown since initial surge, Quartz says
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10:38 EDTAAPLMizuho says buy NXP, Micron, ON Semi
Mizuho Securities initiated coverage of a number of chip makers in a note to investors last night. Among its recommendation in the space, NXP Semiconductors (NXPI), Micron (MU), and ON Semiconductor (ON) were called out with Buy ratings. NXP: NXP Semiconductors dominates the mobile payment market with its NFC products, Mizuho analyst Vijay Rakesh wrote. The company's NFC chips are used in Apple's (AAPL) Apple Pay and NXP has a strong mobile payment ecosystem in China, the analyst explained. NXP Semiconductors is also a leader in providing chips used to enhance credit card security, as its Chip+Pin system has a 75% share of the global market and is in the process of being deployed in the U.S, according to Rakesh. Going forward, NXP's growth should be driven by the automotive products of Freescale, which the company acquired earlier this year, the analyst stated, adding that NXP should derive strong synergies and cash flow from the deal. He set a $140 price target on the stock. MICRON: Sales of flash memory device maker Micron's DRAM products should be boosted by a PC rebound in the second half of this year, according to Rakesh. Additionally, the company's new CFO could make its actions more predictable, pleasing investors, the analyst stated. ON: ON Semiconductor should benefit from its acquisition of Aptina, which gave ON a significant presence in the Advanced Driver Assistance Systems, or ADAS, market, Rakesh believes. ADAS is likely to grow rapidly around the world, driven by mandates, the analyst predicted. A second positive catalyst for ON will be the proliferation of wireless charging, added the analyst, who set a $16 price target on the shares. PRICE ACTION: In early trading, NXP rose nearly 1% to trade nearly $108, Micron gained 2.6% to $27.61, and ON was fractionally higher. Other semiconductor makers initiated with Buy ratings by the firm include Skyworks (SWKS), Synaptics (SYNA), Avago (AVGO) and Cypress Semiconductor (CY).
10:33 EDTFBFacebook management to meet with Oppenheimer
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09:34 EDTFB, AAPLActive equity options trading on open
Active equity options trading on open: AAPL BABA AMZN FB MU BIDU SDRL BAC INTC EXPE CHK FEYE
09:01 EDTAAPLApple wants TV service to have local programming, Re/code reports
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06:56 EDTAAPLTrendforce expects iPhone shipments to reach 230M in 2015, DigiTimes says
Trendforce said Apple's iPhone shipments is expected to reach over 230M in 2015, reports DigiTimes. The 4.7-inch and 5.5-inch versions of the next iPhone will enter mass production in June and will be shipped in Q3. Quarterly shipments is projected to reach 24M units. Reference Link
06:35 EDTAAPLApple developing dual-app mode, 12-inch iPads, multi-user support, 9to5Mac says
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May 21, 2015
19:44 EDTFBGoogle advertising head remarks that larger phones may help mobile ads, WSJ says
In a Wall Street Journal interview at the San Francisco ad:tech conference, Google (GOOG) advertising chief Sridhar Ramaswamy commented on the conversation rate from mobile ad viewership to actual mobile sales, stating, "As phones get bigger the [screen] space issue becomes less challenging... [My six-inch phone] is essentially a tablet. People’s ability to navigate sites and fill out forms and such goes up tremendously." Ramaswamy also offered commentary on Facebook's (FB) advertising metrics, asking, "How many of Facebook’s video views are engaged views?" The Journal notes that Google's YouTube waits 30 seconds to register a video view, while Facebook counts a view "more quickly." Reference Link
17:34 EDTTGTGoogle data shows link between mobile ads, store visits, WSJ says
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17:16 EDTAAPLApple plans 12-inch iPads, split-screen functionality, 9to5Mac says
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16:00 EDTFB, AAPLOptions Update; May 21, 2015
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15:25 EDTAAPLApple to add public transit support to Maps app, 9to5Mac says
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14:14 EDTAAPLMobileye says not currently at work with Apple
Mobileye (MBLY) announced that an article published in InformationWeek on May 20 quoted an industry expert and current director as stating that the company is commencing work with Apple (AAPL) on an autonomous driving project. Mobileye stated: "The company is not currently at work with Apple. Although it is not the company's policy to comment on press reports or other media, the article has caused confusion and concern among market participants. As a result, the company felt it was important to correct the inaccuracy. The company has asked the publication to correct the article on its website."
11:21 EDTAAPLApple considers expansion into San Jose, Silicon Valley Business Journal says
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10:43 EDTLULUOptions with increasing implied volatility
Options with increasing implied volatility: FTR LL XLNX LULU
09:36 EDTAAPL, FBActive equity options trading on open
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09:07 EDTAAPLApple may unveil next iPhones in August, MacRumors reports
Apple may unveil its next iPhones in August and launch them in September, reports MacRumors. According to a research note from KGI Securities Ming-Chi Kuo, Foxconn is expected to secure between 60%-70% of orders to assemble the new iPhones. Reference Link
08:02 EDTFBDuPont Fabros expands relationship with Facebook at ACC7 data center
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07:58 EDTAAPLApple iPhone and Watch estimates raised at Morgan Stanley
Morgan Stanley's checks indicate June quarter iPhone demand is tracking ahead of Street expectations and Watch demand has jumped following the launch. The firm raised its June quarter iPhone unit estimate to 50M from 46M, FY15 unit estimate to 240M, and FY16 unit estimate to 249M. Morgan Stanley raised its base case Watch estimate to 36M units from 30M in the first 12 months. As a result, the firm's CY15 EPS estimate is increased 6% to $9.73, roughly in-line with consensus. The firm has an Overweight rating with a $166 price target on Apple shares.
07:51 EDTAAPLIPhone growth fears premature, says Oppenheimer
Oppenheimer expects investors to question whether Apple's growth can continue at recent rates, given the tough comps it is facing. The firm thinks these doubts could pressure the stock, but it expects the company's earnings growth to continue to come in above expectations, driven by iPhone share gains, momentum in China, Apple's ecosystem, new product categories, and shareholder-friendly actions. The firm keeps a $155 price target and Outperform rating on the stock.
07:13 EDTAAPLApple showing substantial issue with iCloud services, 9to5Mac reports
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07:09 EDTTGTTarget reported solid results, says Wells Fargo
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06:43 EDTAAPLTSMC to manufacture fingerprint sensors for next iPhone, DigiTimes reports
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05:52 EDTAAPLTesla batteries may surpass $1B in sales faster than iPhone, Economic Times says
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05:41 EDTAAPLUber poaches new legal counsel Sabrina Ross from Apple, Re/code reports
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05:38 EDTAAPLApple Pay may launch in Europe sooner than expected, BGR reports
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May 20, 2015
19:54 EDTAAPLApple streaming music service coming first to Russia, Billboard says
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18:40 EDTTGTTarget looks cheap, Barron's says
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16:00 EDTAAPL, FBOptions Update; May 20, 2015
iPath S&P 500 VIX Short-Term Futures up 3c to 19.19. Option volume leaders: AAPL AAL YHOO DAL FB BABA UAL BAC TWTR LUV C TSLA GE MU
14:04 EDTFBFacebook acquires web publisher tool maker Tugboat Yards
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10:59 EDTTGTTarget sees Q2 comparable sales up 2%-2.5%
Sees Q2 gross margin rate to improve 50 basis points.
10:55 EDTTGTTarget plans to review with board for need to increase share repurchases
10:54 EDTTGTTarget reports Q1-end inventory 9% higher than a year ago
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10:42 EDTTGTTarget expects to open six additional Target Express locations in 2015
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09:36 EDTAAPL, TGT, FBActive equity options trading on open
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08:06 EDTTGTTarget CEO says pleased with Q1 traffic, sales
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08:05 EDTTGTTarget incurred breach-related expenses of $3M in Q1
Target incurred breach-related expenses of $3M in Q1, compared with $18M of net pre-tax expense last year. Since 4Q13, Target has incurred net expense related to the data breach of $166M, reflecting $256M of gross expense, partially offset by the recognition of a $90M insurance receivable. As of April 12, Target Canada completed its inventory liquidation efforts and closed the last of its 133 Canadian retail stores. A court-approved real estate sales process is underway and expected to be complete by the end of June, Target said. Consistent with expectations, after-tax losses from discontinued operations were $16M in Q1, compared with $153M last year. Certain assets and liabilities of Target’s discontinued operations are based on estimates. "The company believes it is reasonably possible that future adjustments to these amounts could be material to its results of operations in future periods. Any such adjustments would be recorded in discontinued operations," Target stated.
08:03 EDTTGTTarget sees Q2 adjusted EPS $1.04-$1.14, consensus $1.12
08:02 EDTTGTTarget raises FY15 adjusted EPS view to $4.50-$4.65 from $4.45-$4.65
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08:01 EDTTGTTarget reports Q1 adjusted EPS $1.10, consensus $1.03
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07:49 EDTTGTCherokee partnerships add to long-term growth, says Brean Capital
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06:25 EDTAAPLSamsung could release next Galaxy Note phone as early as July, BI reports
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May 19, 2015
16:23 EDTAAPLOn The Fly: Top stock stories for Tuesday
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16:01 EDTFB, AAPLOptions Update; May 19, 2015
iPath S&P 500 VIX Short-Term Futures down 27c to 19.17. Option volume leaders: AAPL BAC WMT MSFT FB TWTR MNKD NFLX T PBR
15:00 EDTTGTNotable companies reporting before tomorrow's open
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14:41 EDTTGTTarget (TGT) May weekly 78 straddle priced for 3.6% movement Q1
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14:38 EDTTGTTarget volatility elevated into Q1 and outlook
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13:52 EDTAAPLPiper Jaffray says shelving television plans won't hurt Apple shares
Following a report by The Wall Street Journal that Apple (AAPL) shelved its television set plans "more than a year ago," Piper Jaffray issued a research note updating its view on the company. WHAT'S NEW: Prior to the market open, The Wall Street Journal released an article stating that, according to people familiar with the matter, Apple has "quietly shelved" its plans to develop a high-definition television set. The company experimented with video calls and 4K resolution as it searched for a justification to enter the TV market, but ultimately decided to instead focus on an online television service and a redesigned Apple TV device. Following the release of that article, Piper Jaffray analyst Gene Munster issued a note reconciling its long-held hope for an Apple television set with the Wall Street Journal's cancellation news. Later in the afternoon, Carl Icahn appeared on CNBC to respond to his recent open letter claiming that Apple was significantly undervalued, partly because of expectations for an Apple television set by 2016. In the CNBC interview, Icahn claimed the Wall Street Journal's article is contradictory, but maintained that the purpose of his letter was to spur additional stock repurchases by Apple. WHAT'S NOTABLE: Piper Jaffray said it believes there will be "no sustained impact" to Apple shares on the news because most analysts did not have definite expectations for a television. The firm believes that Apple will continue to develop its Apple TV set top box and possibly incorporate HomeKit, Siri, and an app store into the next model of the device. However, Piper did reiterate its belief that Apple will somehow move into the living room, citing statements by CEO Tim Cook calling the TV viewing experience "broken." The firm believes Apple is "actively" developing virtual and augmented reality products, though it cautions that a product launch could be five years away, if not more. Piper concluded with a reminder that its television expectations were not built into its model for Apple, and reiterated its Overweight rating and $162 price target. PRICE ACTION: Apple has advanced fractionally during the trading session, rising 0.35% to $130.65 at time of writing.
13:04 EDTTGTEarnings Watch: Lowe's sees FY15 EPS $3.29, strongest comps of year in Q1
Lowe's Companies (LOW), a home improvement retailer, is scheduled to report on its first quarter before the market open on Wednesday, May 20, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of 74c on revenue of $14.27B, according to First Call. The consensus range for EPS is 69c-80c on revenue of $13.97B-$14.52B. LAST QUARTER: Lowe's reported fourth quarter EPS of 46c on revenue of $12.54B, beating analyst's estimates of 44c and $12.31B, respectively. The company also reported Q4 same-store sales rose 7.3%, with U.S. comparable sales up 7.4%. The company forecast fiscal year 2015 EPS $3.29 against estimates at that time for $3.28 and said it expects revenue up 4.5%-5% in the fiscal year compared to last. Lowe's also forecast FY15 SSS up 4%-4.5% and said it expects to report the highest comp for FY15 in Q1. On its earnings conference call, the company said it expects higher comps in the first half of 2015 than the second half. The company said it expects jobs, incomes and household financial conditions to improve in 2015. NEWS: During the quarter, Lowe's announced a new $5B share repurchase program, which has no expiration date and adds to the previous program's balance, which was $2.4B at January 30. Seeking Alpha contributor Xuhua Zhou, described as a hedge fund analyst, recently wrote in a blog post that "research confirms Lowe's is guilty of formaldehyde noncompliance in sourcing laminate flooring from China." The Consumer Products Safety Commission and Environmental Protection Agency should include Lowe's products in their safety testing of Lumber Liquidators' (LL) wood, the writer believes. A Lowe's spokesperson told Bloomberg that the Tescun flooring is being removed from stores. Lowe's Canada recently reached an agreement to acquire the leases of 13 former Target (TGT) Canada Locations and will buy Target's Milton, Ontario distribution center for approximately C$151M. STREET RESEARCH: On the day after its last earnings report, UBS raised its price target on Lowe's to $83 from $75, citing the company's big ticket comp growth, the improving economy and pent up demand from consumers putting projects on hold since the downturn. Argus also raised its price target, to $82 from $70, and said its confidence in the company's ability to generate profitable growth has increased. In March, Oppenheimer raised its price target on Lowe's to $85 from $77 and said the stock has a number of positive catalysts, including solid U.S. consumer spending trends, significant slack in the U.S, housing recovery, improving market sentiment and investors' interest in domestic plays as the dollar strengthens. BofA/Merrill said the home improvement space is one of the more attractive areas within retail and recommends buying Lowe's. The firm remains positive on the company's earnings growth and lack of negative catalysts. PRICE ACTION: Over the last three months, Lowe's shares are up nearly 1%. In early afternoon trading ahead of Wednesday's report, Lowe's is fractionally lower at $72.77.
12:47 EDTTGTEarnings Watch: Target sees FY15 adjusted EPS $4.45-$4.65, 2%-3% sales growth
Target (TGT) is scheduled to report first quarter results before the market open on Wednesday, May 20, with a conference call scheduled for 10:30 am ET. Target offers merchandise at discounted prices through its retail stores and online business. EXPECTATIONS: Analysts are looking for earnings per share of $1.03 on revenue of $17.09B, according to First Call. The consensus range for EPS is 85c-$1.09 on revenue of $16.98B-$17.25B. LAST QUARTER: Target reported fourth quarter adjusted EPS of $1.50 on revenue of $21.75B, beating analysts' estimates for $1.46 and $21.63B, respectively. The company said comparable sales increased 3.8% in Q4, reflecting a 3.2% increase in comparable transactions. Target said digital channel sales contributed 0.9 percentage points to SSS growth. Target forecast Q1 adjusted EPS 95c-$1.05, SSS up about 2% and said its top priority is to drive digital sales growth. The company said it could be in a position to revisit stock buybacks later this year and noted that its workers' wages are "competitive." NEWS: At its Financial Community Meeting on March 3, Target forecast fiscal year 2015 adjusted EPS $4.45-$4.65, against estimates at that time for $4.50, on sales growth of 2%-3% for the fiscal year. The company also forecast 10% annual EPS growth for 2016 and beyond, as well as 5%-10% annual dividend growth. Target forecast $2B in savings in expenses and cost of goods over the next two years and 9.5%-10% EBITDA margins over the next five years. As for share repurchases, Target sees $2B this year, and said it continues to support the dividend and repurchase "billions." Looking to FY15, Target forecast FY15 capital expenditures of $2.1B and sees expected CapEx of $2B-$2.5B over the next five years. Target said its gross margin rate of 29.5% is "achievable." Target said it would focus on categories including style, baby, kids and wellness. As part of its $2B cost savings plan, Target said it will cut "several thousand jobs." Target said in a filing that on March 10, the company notified approximately 1,700 employees whose employment will be terminated as part of an overall plan to transform Target’s business. The company said it expects to incur severance costs of $10M. During the quarter, Target said it planned to raise its minimum pay for all workers to at least $9 an hour starting in April, according to The Wall Street Journal, and agreed to pay $10M to settle a class action lawsuit related to its 2013 data breach, Reuters reported. Target reached a settlement with MasterCard (MA) to resolve claims by MasterCard and its issuers related to the retailer’s 2013 data breach. Under the agreement, Target will make available up to $19M in alternative recovery offers to eligible banks and credit unions across the globe. Target Canada said it would close the last 133 retail stores by April 12. Target also announced plans to sell its Target Commercial Interiors subsidiary to Omni Workspace. The retailer launched the Lilly Pulitzer for Target collection in April, which rendered its website inaccessible for short time after it was overwhelmed by customer traffic, The WSJ said. The WSJ also reported that, according to sources, Target gave notice to Campbell Soup (CPB), General Mills (GIS), Kellogg (K), Kraft Foods (KRFT) and others that it will reduce their presence in Target circulars and in-store advertisements. STREET RESEARCH: Following Target's analyst meeting, Wells Fargo said it thinks the company's operating plan sets the stage for the company to potentially beat expectations in 2015 and beyond. The firm believes that"outsized digital growth" or new products could enable Target's results to beat expectations. Piper Jaffray views Target's long term earnings algorithm, which is based on a 1% store comp and 40% growth in digital sales annually, as realistic and the company's capital deployment as encouraging. BofA/Merrill upgraded Target to Buy from Neutral in April and increased its price target to $92 from $86. The firm believes Target is well positioned to benefit from an improving middle-income core customer base. The firm said customers are responding well to improved assortment and merchandising and expects Target to continue to see increased spending at stores and online as customers trade-up to more expensive items. PRICE ACTION: Target shares are up over 1.6% over the past three months. In early afternoon trading ahead of Wednesday's earnings report, shares are down 0.51% to $77.96.
12:47 EDTAAPLIcahn says will 'definitely be wearing' Apple Watch, but does not have one yet
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12:39 EDTAAPLIcahn says Apple CEO, board doing 'great job'
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12:36 EDTAAPLIcahn says letter had 'one purpose,' getting Apple to buy back more stock
Icahn says "one thing" he disagrees with Apple about is the company's stock repurchase levels. Icahn said if Apple decides not to build a television it does not change his view of the company "one iota." Icahn says he "talks from time to time" with Apple CEO Tim Cook, but he will not discuss what is said in those talks publicly as one of the company's larger shareholders. Carl Icahn is speaking on CNBC.
12:32 EDTAAPLCarl Icahn says 'a bit confused' by WSJ report on Apple television plans
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12:25 EDTAAPLOn The Fly: Top stock stories at midday
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09:37 EDTFB, AAPLActive equity options trading on open
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09:25 EDTAAPLJim Cramer tells Apple CEO to acquire Harman
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09:20 EDTAAPLApple estimates raised on iPhone gains at Cleveland Research
Cleveland Research's iPhone feedback remains favorable and raised unit forecasts on improving share gains. The firm is modeling 48M iPhone units for the June quarter, 232M for FY15, and 241M for FY16 vs estimates of 45M, 228M, and 232M respectively. Cleveland rates Apple a Neutral.
08:34 EDTAAPLApple introduces 15-inch MacBook Pro with Force Touch trackpad
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07:12 EDTAAPLAlibaba's Ma confirms talks with Apple over payment system talks, Reuters says
Alibaba (BABA) Executive Chairman Jack Ma confirmed reports that the company is talks with Apple (AAPL) over cooperation for a payment system, Reuters reports. Apple CEO Tim Cook last week told the official news agency of China, Xinhua, that the iPhone maker is in talks with Chinese banks and Alibaba about launching Apple Pay in China. Reference Link
06:48 EDTAAPLApple shelved plans to produce ultra-HD television, WSJ reports
Apple tried hard to find breakthrough features that would warrant building an ultra-high-definition television set, but after nearly a decade of research, executives did not see a compelling enough reason to enter the highly competitive TV market, according to The Wall Street Journal, citing people familiar with the matter. Reference Link
06:29 EDTAAPLBlackBerry CEO says smartphone business will be profitable again, BI reports
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06:06 EDTAAPLPiper thinks shelving TV won't hurt shares of Apple
Piper Jaffray analyst Gene Munster says Apple's shelving of its plans to make a television is unlikely to have a sustained impact on the stock. After the Wall Street Journal suggested that Apple has scrapped a program to make a television, Munster points out that investor expectations for a TV were low and that Street estimates do not reflect such a product. The analyst still believes Apple will continue to develop the Apple TV as a set top box. He keeps an Overweight rating on Apple with a $162 price target.
05:59 EDTAAPLSources: Apple able to launch iPhone 6s as early as August, BGR says
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May 18, 2015
16:21 EDTAAPLOn The Fly: Top stock stories for Monday
Stocks on Wall Street advanced in Monday trading, sending the Dow Jones Industrial Average and the S&P 500 to new all-time closing highs. The early part of the day saw the market move in a narrow range, but by early afternoon the market punched through its upper range and moved to session highs. The market drifted throughout the afternoon as the news flow was quiet and the trading volume remained light. ECONOMIC EVENTS: In the U.S., the National Association of Home Builders’ confidence index fell 2 points to a reading of 54 in May, missing expectations for a 1 point increase to a reading of 57. COMPANY NEWS: Shares of Apple (AAPL) advanced $1.47, or 1.14%, to $130.24 after noted investor Carl Icahn stated in an open letter to the company's CEO that he thinks other investors, analysts and the news media continue to misunderstand Apple and that its stock is "worth $240 today." Icahn urged Apple CEO Tim Cook to take advantage by launching a "much larger buyback" of the iPhone maker's shares. Separately, FBR Capital analysts Daniel Ives and James Moore wrote this morning in a note to investors that the Street is still underestimating Apple's growth outlook in China. The analysts believe that Apple's China revenue will exceed its revenue from the Americas in fiscal 2017... Endo International (ENDP) slid $4.53, or 5.31%, to $80.82 after the company agreed to pay $8B for privately held Par Pharmaceutical, which will roughly double Endo’s generics revenue and place its generics business among the top five as measured by U.S. sales. MAJOR MOVERS: Among the notable gainers was Ann Inc. (ANN), which surged $7.69, or 19.87%, to $46.40 after agreeing to be acquired by Ascena Retail Group (ASNA) for about $2.15B in cash and stock. Ascena, which agreed to pay $37.34 in cash and 0.68 of a share of its own common stock in exchange for each share of the parent of the Ann Taylor brand, slipped 14c, or 0.99%, to $14.07 after announcing the deal. Also higher was Achillion (ACHN), which rose $1.41, or 14.79%, to $10.98 after the company cancelled its presentation at the UBS Global Healthcare Conference. Conference cancellations often generate speculation as to whether a company is engaged in merger or acquisition talks. Among the noteworthy losers was Eleven Biotherapeutics (EBIO), which dropped $8.29, or 69.26%, to $3.68 after announcing the company’s Phase 3 study of its lead drug candidate, EBI-005, in moderate to severe dry eye disease did not meet either of its two co-primary endpoints. Also lower were shares of Weibo (WB), which fell 87c, or 5.24%, to $15.73 after the shares were downgraded to Hold from Buy at Summit Research. INDEXES: The Dow rose 26.32, or 0.14%, to 18,298.88, the Nasdaq gained 30.15, or 0.6%, to 5,078.44, and the S&P 500 added 6.47, or 0.3%, to 2,129.20.
16:00 EDTAAPL, FBOptions Update; May 18, 2015
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14:04 EDTAAPLEarnings Watch: Wal-Mart sees Q1 EPS 95c-$1.10, U.S. SSS up 1%-2%
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13:49 EDTAAPLEarnings Watch: Home Depot sees FY15 EPS $5.11-$5.17, revenue growth 3.5%-4.7%
Home Depot (HD), a home improvement retailer, is scheduled to report first quarter results before the market opens on Tuesday, May 19, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.15 on revenue of $20.82B, according to First Call. The consensus range for EPS is $1.12-$1.19 on revenue of $20.47B-$21.26B. LAST QUARTER: Home Depot reported fourth quarter adjusted EPS of $1.00 on revenue of $19.16B, beating analysts' consensus estimates for 89c and $18.7B, respectively. The company said same-store sales increased 7.9%, with U.S. SSS up 8.9%. The company forecast fiscal year 2015 EPS of $5.11-$5.17 on revenue growth of 3.5%-4.7%, against estimates at that time for $5.23 and $86.46B, respectively. Home Depot also guided to FY15 SSS growth of 3.3%-4.5% and said it expected FY15 gross margin to be flat, with a tax rate of approximately 37%. Capital expenditures for FY15 were foreseen at $1.6B, with cash flow from business at $9B. In addition to reporting better than expected Q4 earnings, Home Depot also announced an $18B share repurchase program and increased its quarterly dividend by 26% to 59c. NEWS: On its Q4 earnings conference call, Home Depot said it expected moderate GDP growth and housing recovery to drive growth in 2015. The company noted that if foreign currency rates continued as they were in February, sales in 2015 could be negatively impacted by $1B. At March's Raymond James conference, Home Depot backed its guidance for FY15. The company also said it sees FY15 operating margin approximately 60bps to greater than 13%. The company plans to open six new stores in FY15, including five stores in Mexico and one in Canada. The retailer is targeting FY15 share repurchases of $4.5B. On May 5, MacRumors reported that Home Depot may begin phasing out support for Apple Pay (AAPL) at its retail stores. Point72 Asset Management announced that it liquidated its stake during the quarter. STREET RESEARCH: In March, Oppenheimer said it believes that Home Depot has a number of positive catalysts, including solid U.S. consumer spending trends, significant slack in the U.S, housing recovery, improving market sentiment and investors' interest in domestic plays as the dollar strengthens. The firm raised its price target to $133 from $115 and kept an Outperform rating on the stock. On April 26, Barron's said shares of Home Depot could rise towards $124 as the housing market regenerates and demand for renovation grows. BofA/Merrill said the home improvement is one of the more attractive areas within retail and recommended buying Home Depot. During the quarter, Home Depot was initiated with a Hold rating and $108 target at Cantor. PRICE ACTION: Over the last three months, Home Depot shares are up over 1.5%. Ahead of Tuesday's earnings, Home Depot is fractionally higher at $113.77.
12:51 EDTAAPLOn The Fly: Top stock stories at midday
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11:49 EDTAAPLApple readying new features for Apple Watch, 9to5Mac reports
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11:26 EDTAAPLFBR, Icahn both say Apple being underappreciated
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11:16 EDTFBFacebook says move to digital ads from TV and print is 'in early days'
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11:08 EDTAAPLIcahn says Apple shares 'worth $240 today,' urges 'much larger' buyback
In an open letter to Apple CEO Tim Cook posted to his Shareholder's Square Table website, investor Carl Icahn stated that he believes Apple shares "are worth $240 today." With Apple’s shares trading for "just $128.77 per share" versus Icahn's valuation of $240 per share, the investor said it is the time for a "much larger buyback" to be launched by the company. Apple’s earnings multiple has stayed "irrationally discounted," according to Icahn, since investors, analysts and the news media continue to misunderstand Apple and "generally fail to value Apple’s net cash separately from its business, fail to adjust earnings to reflect Apple’s real cash tax rate, fail to recognize the growth prospects of Apple entering new categories, and fail to recognize that Apple will maintain pricing and margins."
11:04 EDTAAPLCarl Icahn says Apple shares 'worth $240 today'
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10:37 EDTFBFacebook ramps up interest in games, The Information reports
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09:36 EDTFB, AAPLActive equity options trading on open
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09:36 EDTAAPLAppeal says Samsung $930M damages to Apple must be adjusted, Bloomberg reports
The U.S. Court of Appeals for the Federal Circuit ruled that Samsung (SSNLF) did infringe Apple’s (AAPL) design patents, but did not violate Apple’s trade dress, meaning the $930M damages award to Apple must be adjusted, reported Bloomberg. Reference Link
09:26 EDTAAPLApple gets mixed ruling from appeals court in Samsung case, Bloomberg reports
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08:28 EDTAAPLApple Watch volume down but mix is up. says UBS
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08:22 EDTFBVerizon deal has multiple positive catalysts, says Wells Fargo
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07:29 EDTAAPLApple China growth underappreciated by investors, says FBR Capital
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07:27 EDTFBJPMorgan to hold a conference
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May 17, 2015
19:11 EDTTGTTarget to reduce advertising space for certain large brands, WSJ says
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18:04 EDTAAPLApple acquires Coherent Navigation, NYT says
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May 15, 2015
16:01 EDTAAPL, FBOptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
12:47 EDTLULUAppeals court dismisses lululemon yoga pants lawsuit, Reuters reports
A lawsuit accusing lululemon of defrauding shareholders by failing to reveal the sheerness of its black Luon yoga pants has been properly dismissed by a U.S. appeals court, Reuters reports. The court ruled that "Insofar as the defendants are alleged to have omitted information from Lululemon's corporate website, filings with the SEC, press releases, or investor calls, the has failed adequately to plead with particularity that these omissions rendered the defendants' statements inaccurate, incomplete, or misleading or that the defendants were otherwise under a duty to disclose such information." Reference Link
11:28 EDTAAPLSpotify to roll out streaming service next week, CNBC reports
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11:08 EDTAAPLOmega Advisors gives quarterly update on stakes
NEW STAKES: Targa Resources (TRGP), Targa Resources Partners (NGLS), Humana (HUM), Dow Chemical (DOW), and Twenty-First Century Fox (FOXA). INCREASED STAKES: Kinder Morgan (KMI), Chimera Investment Corporation (CIM), AerCap Holdings (AER), Shire (SHPG), and KKR & Co. (KKR). DECREASED STAKES: eBay (EBAY), Altisource Portfolio Solutions (ASPS), Caesars Entertainment (CZR), Navient (NAVI), and TerraForm Power (TERP). LIQUIDATED STAKES: HCA Holdings (HCA), Gilead (GILD), Cabot Oil & Gas (COG), and Apple (AAPL).
10:23 EDTAAPLQuanta says Apple Watch yield rate no longer an issue, DigiTimes reports
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09:37 EDTFB, AAPLActive equity options trading on open
Active equity options trading on open: AAPL TWTR TSLA NFLX FB
08:46 EDTFBMobile operators ad blocking plan sets up fight with Google, FT reports
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08:24 EDTEXPRAmerican Eagle, Express should be bought ahead of results, says BMO Capital
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May 14, 2015
19:11 EDTAAPLApple job listing hints at map service overhaul
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18:39 EDTAAPLApple, others raise objections to sale of RadioShack customer data, Law360 says
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17:36 EDTAAPLApple responds to rumored HomeKit delay, says first device next month, WSJ says
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17:17 EDTAAPLApple submits patent application to expand 'home button' features
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16:00 EDTAAPL, FBOptions Update; May 14, 2015
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14:32 EDTTGTTarget to sell commercial interiors subsidiary to Omni Workspace
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14:04 EDTAAPLApple delays launch of HomeKit to early fall, Fortune reports
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11:06 EDTLULUOptions with increasing implied volatility
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10:09 EDTEXPRIncreasing equity options volume on open
Increasing equity options volume on open: ONTY CBRL PBYI GWW AXLL IEV KSS EXPR UEC JACK
09:34 EDTFB, AAPLActive equity options trading on open
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07:34 EDTAAPLApple search volume continues to surge in China, says UBS
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06:29 EDTAAPLApple Music to have deep social integration for artists, 9to5Mac reports
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06:17 EDTAAPLApple plans expansion of key Irish plant, Irish Independent reports
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06:16 EDTAAPLApple and A123 prepare to settle employee-poaching lawsuit, WSJ reports
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May 13, 2015
16:06 EDTFB, AAPLOptions Update; May 13, 2015
iPath S&P 500 VIX Short-Term Futures down 38c to 20.67. Option volume leaders: AAPL CSCO NTI FB CSX BABA EIX BAC DD WMB TSLA JCP QCOM DAL
14:05 EDTTGTTarget May weekly volatility elevated into Q1 and outlook
Target May weekly call option implied volatility is at 26, June is at 21, July is at 19; compared to its 90-day average of 19, suggesting large price movement into the expected release of Q1 results on May 20.
13:15 EDTAAPLInquirer discusses recent Apple for BlackBerry takeover rumors
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11:22 EDTLULUOptions with increasing implied volatility
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09:49 EDTLULUlululemon April channel checks appear strong, says Bernstein
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09:39 EDTAAPLActive equity options trading on open
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08:21 EDTFBFormer FCC chairman hired by Facebook to manage access efforts, Bloomberg says
Kevin Martin, the former chairman of the FCC who has been consulting for Facebook the past two years, is joining on a permanent basis as the company's VP for mobile and global access policy, reported Bloomberg. Facebook also announced that Chief Privacy Officer Erin Egan will start serving a dual role as VP of U.S. Public Policy, the report added. Reference Link
07:52 EDTAAPLApple Watch margins will grow to over 50%, says UBS
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07:03 EDTAAPLNext iPhone to feature 12 MP camera, be offered in rose gold, AppleInsider says
For its next iPhone 6 model, Apple will offer a new rose gold option, according to KGI Securities analyst Ming-Chi Kuo, who did not make clear whether the luxury model would be made of actual gold or if it will simply resemble the color of the high-end Apple Watch Edition, reported AppleInsider. Kuo also said Apple will upgrade the camera to 12 megapixels and suggested that some "Plus" models may use scratch-resistant sapphire covers, though that is dependent on success in testing, the report added. Reference Link
07:02 EDTLULUlululemon announces resignation of EVP, Global Retail Delaney Schweitzer
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06:55 EDTAAPLInsiders speculate bidding war to erupt over AOL, Business Insider reports
The consensus speculation from investment bankers, hedge fund traders and people close to AOL (AOL) is that another company will emerge and offer a price for AOL that is higher than $50 per share, reports Business Insider. The potential suitors include Time Warner (TWX), Comcast (CMCSA), Yahoo (YHOO), Alibaba (BABA), Softbank (SFTBF), AT&T (T), Netflix (NFLX) and Apple (AAPL). Reference Link
06:22 EDTFBFacebook introduces Instant Articles, says working with nine launch partners
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05:55 EDTAAPLTSMC awarded orders for SSD controller chips for Apple, DigiTimes reports
TSMC (TSM) has landed SSD controller chip orders from Apple, reports DigiTimes. According to industry sources, TSMC will utilize a 28nm process to fabricate controller cihps for Apple. Reference Link
May 12, 2015
16:01 EDTAAPL, FBOptions Update; May 12, 2015
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15:50 EDTAAPLSamsung releases next-gen smart watch details to developers, SamMobile says
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13:06 EDTAAPLVivendi says talking to Spotify about streaming, Bloomberg reports
Vivendi (VIVHY) said on its earnings conference call that is having discussions with Spotify regarding a streaming service, Bloomberg reports. Apple's (AAPL) streaming service may affect music sales and margins, Vivendi noted. Shares of Spotify competitor Pandora (P) are up 36c to $18.53 in afternoon trading.
10:28 EDTLULUOptions with increasing implied volatility: YELP HUM LULU CTRX
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09:38 EDTAAPLActive equity options trading on open
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08:31 EDTAAPLApple likely to launch TV video service this year, says Pacific Crest
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07:41 EDTAAPLApple CEO says holding talks about Apple Pay with Alibaba, Reuters reports
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07:00 EDTFBPublishers contend with Facebook clout as traffic-driving power grows, WSJ says
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06:58 EDTAAPLApple examines new nano material touch panels, ETNews reports
Apple (AAPL) is planning to example nano new material on touch panels, reports ETNews. The company expects the new technology to raise sense of touch and decrease cost. According to unnamed sources, Apple requested AgnW touch-panel samples that is verified for mass-production from LG Display (LPL), Samsung Display (SSNLF), Japan Display and other suppliers. Reference Link
May 11, 2015
19:05 EDTFBFacebook tests in-house search engine, WSJ says
Facebook (FB) is testing a feature within its app that allows users to search for previously-shared links, reports the Wall Street Journal's Digits blog, citing spokesperson statements. "We’re piloting a new way to add a link that’s been shared on Facebook," said a company spokesperson. The Journal notes that the feature could give Facebook an information edge over search engine leader Google (GOOG). Reference Link
16:00 EDTFB, AAPLOptions Update; May 11, 2015
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15:33 EDTLULULululemon Athletica calls active on renewed takeover speculation
Lululemon Athletica May 67.5 and 68 calls are active on total call volume of 3,100 contracts (500 puts) on May call option implied volatility is at 31, June is at 37, September is at 36; compared to its 90-day average of 36. Active volume suggests traders taking positions for price movement.
15:14 EDTLULURumor: lululemon strength attributed to renewed takeover speculation
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14:57 EDTAAPLUSPTO sides with Apple, says certain claims of VirnetX 'unpatentable'
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13:07 EDTLULULululemon Athletica volatility flat on tight price movement
Lululemon Athletica June call option implied volatility is at 37, September is at 36; compared to its 90-day average of 36, suggesting non-directional price movement into the expected release of Q1 in June.
12:17 EDTAAPLApple mulls expansion of key Irish plant, Independent. ie says
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11:37 EDTAAPLApple expanding renewable energy projects in China
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11:24 EDTAAPLUBS says Apple Watch could become 'must-have' device, but not yet
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10:30 EDTFBFacebook management to meet with Pacific Crest
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09:56 EDTAAPLIDC: Apple leads smartphone vendors in China during Q1
IDC’s latest Mobile Phone Tracker shows the China smartphone market contracted by 4% year-on-year with 98.8M units shipped in the first quarter of 2015. This is the first time in six years that the China smartphone market declined YoY as the market continues to mature. On a QoQ basis, the market contracted 8% on the back of a large inventory buildup at the end of last year. The study said Apple (AAPL) was the top smartphone vendor in China in the first quarter, with consumers still having a strong appetite for the larger screens on the iPhone 6 and iPhone 6 Plus. Xiaomi slipped to the second position as it faced strong competition from other vendors in the low to mid-range segment of the market, while Huawei maintained third position as it saw a good uptake in the mid-range segment. Samsung (SSNLF) and Lenovo (LNVGY) both led the market at least once last year, but rankings have since changed quickly, highlighting the volatility of consumers' brand preference in China. Reference Link
09:37 EDTFB, AAPLActive equity options trading on open
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09:01 EDTTGTLowe's acquires leases of 13 former Target stores in Canada
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08:41 EDTAAPLApple Watch may become 'must have' as interface to internet, says UBS
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06:44 EDTAAPLFiat Chrysler CEO met with Apple, Tesla CEOs, Reuters says
During a trip to California, Fiat Chrysler (FCAU) CEO Sergio Marchionne met with Apple (AAPL) CEO, Tim Cook, and Tesla (TSLA) CEO Elon Musk, reports Reuters, citing Marchionne. Marchionne also vowed that the company would make a stronger attempt in the luxury SUV market, Reuters adds. Reference Link
05:05 EDTAAPLApple announces environmental initiatives in China
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May 10, 2015
17:45 EDTTGTJudge allows $19M Target data breach settlement to move ahead, Reuters says
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