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Stock Market & Financial Investment News

News For AAPL;GOOG;INTC From The Last 14 Days
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February 4, 2016
12:44 EDTAAPLOn The Fly: Top stock stories at midday
Stocks on Wall Street had an up and down morning, with the Dow swinging by triple digits in either direction. The market opened lower as oil prices lost their early gains, but as oil began to move higher so did stocks. When oil prices met resistance near the $34 a barrel level it began to pare its gains, once again taking stocks with it. The averages are now back in the green as investors await tomorrow's monthly jobs report. ECONOMIC EVENTS: In the U.S., the Labor Department said that productivity fell at an annual rate of 3% in the fourth quarter, marking the biggest quarterly decline in nearly two years and worse than the expected decline of 2%. Labor costs rose 4.5% in the fourth quarter, versus expectations for an increase of 4.3%. Initial jobless claims rose to 285,000 in the week ended January 30, versus expectations for 277,000 first-time claims. Factory orders declined 2.9% in December, versus expectations for them to be down 2.8% for the month. In Europe, the European Commission lowered its 2016 economic growth forecast for the 19-nation single currency area to 1.7% from the 1.8% expansion the commission had forecast in November. The Bank of England also cut its economic growth forecasts, saying it now expects Britain's economy to grow 2.2% this year and 2.3% next year, which is down from the 2.5% growth for 2016 and 2.6% in 2017 that it previously predicted. Additionally, the BoE maintained its bank rate and held the size of its asset purchase program steady. COMPANY NEWS: Shares of GoPro (GPRO) sunk to an all-time low after the action camera maker reported fourth quarter revenue that fell $60M short of expectations and guided toward sales in the new quarter that were even further below the consensus forecast. GoPro, which also guided to losses in the first quarter and named a new CFO, fell as low as $9.01 earlier in the session before cutting its losses to be down about 8% near noon... Sumner Redstone stepped down as Executive Chairman of both CBS (CBS) and Viacom (VIA, VIAB), being replaced by the CEOs of the companies in both cases. CBS shares were up 1% after Leslie Moonves was named the next Chair of its board, while Class A shares of Viacom were up about 1.5% after Philippe Dauman was selected to succeed Redstone... ConocoPhillips (COP) fell nearly 7% after the oil and gas explorer reported a worse than expected quarterly loss and slashed its dividend to 25c from 74c per share. CEO Ryan Lance said the decision to reduce the dividend was a "difficult one," but that the company believes it is prudent to plan for lower commodity prices for a longer period of time. MAJOR MOVERS: Among the notable gainers was Hersha Hospitality (HT), which rallied 14% after it announced that it signed agreements with Cindat to form a joint venture for seven of the company's hotels in Manhattan for $571.4M. Also higher was VirnetX (VHC), which gained 53% after it was awarded $625.6M in a verdict against Apple (AAPL) for infringing four VirnetX patents. In addition, GrubHub (GRUB) and ProtoLabs (PRLB) were up 15% and 12%, respectively, after reporting quarterly earnings. Among the noteworthy losers were Ralph Lauren (RL), Kohl's (KSS), and AstraZeneca (AZN), which were down 17%, 19%, and 7%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 70.02, or 0.43%, to 16,406.68, the Nasdaq was up 6.50, or 0.14%, to 4,510.74, and the S&P 500 was up 3.90, or 0.2%, to 1,916.43.
12:23 EDTAAPLApple says some users unable to make purchases
Apple on its Store Services page said that "some users may have been unable to access multiple stores/services or make purchases." Regarding its multiple iCloud services, the iPhone maker said, "New and recently changed content may not have updated across devices for iCloud Drive, Backup, iCloud Notes, iWork for iCloud, and Photos. Users may also have been unable to use multiple services at iCloud.com." Reference Link
11:33 EDTINTCSamsung postpones investment in Xi'an semi plant, BusinessKorea says
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11:29 EDTAAPLVirnetX win in Apple case should help in signing licenses, says Cowen
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10:52 EDTAAPLChinese minister reccomends phone subsidies be extened, Taipei Times reports
National Development Council Minister Lin Chu-chia proposed that an economic stimulus program that includes subsidies for the purchase of energy-efficient home appliances and the replacement of 2G handsets with 4G smartphones be extended beyond its February 29 deadline to June, reported the Taipei Times. Reference Link
10:25 EDTINTC, GOOG$25B cloud boost seen coming for Amazon, Microsoft, Google
Amazon (AMZN), Microsoft (MSFT) and Alphabet (GOOGL, GOOG) are all poised to get huge boosts from their cloud businesses over the next three years, research firm Pacific Crest wrote in a note to investors today. The combined revenue from their cloud initiatives should surge $25B over the next three years as companies move more workloads to the cloud from legacy IT systems, the firm believes. NEXT MAJOR CLOUD CYCLE: The revenue of Amazon's cloud business, AWS, could triple to $25B by 2018, according to Pacific Crest analyst Evan Wilson. Moreover, by 2018, AWS could account for 14% of the company's revenue and over 50% of its profits, up from 7% and 41%, respectively, today, the analyst predicts. Meanwhile, within three years, Microsoft's revenue from its commercial cloud business could jump 50% to $25B, the analyst stated. By 2018, the business could account for almost 25% of the tech giant's revenue and 15% of its profits, up from 15% of its revenue and very little of its profit today, the analyst added. Google's revenue from infrastructure as a service, a form of cloud computing, can surge 500% over the next three years to about $4.5B, Wilson believes. Additionally, noting that AWS' incremental operating margin came in at 51.9% last quarter, Wilson believes that investors are underestimating the profitability of cloud businesses. The analyst maintained an $800 price target and Overweight rating on Amazon, a $65 price target and Overweight rating on Microsoft, and a $910 price target and Overweight rating on Alphabet. WHAT'S NOTABLE: Intel (INTC), along with hard disk drive maker Western Digital (WDC) and Arista Networks (ANET), which supplies cloud networking solutions, should all benefit from the tremendous growth in demand for cloud platforms, Wilson believes. He kept Overweight ratings on all three of the latter stocks. Conversely, Wilson identifies EMC (EMC), HP Enterprise (HPE) and NetApp (NTAP) as "cloud share donors" and keeps Sector Weight ratings on their shares. PRICE ACTION: In early trading, Amazon fell 1% to $525.80, Microsoft was flat near $52 per share and Alphabet Class A shares dropped 1.8% to $736.15.
09:36 EDTAAPLActive equity options trading on open: AAPL FB GPRO AA NFLX BAC TWC YHOO PG
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09:31 EDTAAPLVirnetX awarded $625.6M verdict against Apple
VirnetX (VHC) announced a jury in the United States Court for the Eastern District of Texas, Tyler Division, in the case VirnetX Inc., et al. v. Apple (AAPL), No. 6:12-cv-00855, has awarded VirnetX $625.6 million in a verdict against Apple Corporation for infringing four VirnetX patents, marking the second time a federal jury has found Apple liable for infringing VirnetX's patented technology. The verdict includes royalties awarded to VirnetX based on an earlier patent infringement finding against Apple. The jury found that Apple's modified VPN On-Demand, iMessage and FaceTime services infringed VirnetX's patents and that Apple's infringement was willful. In addition to determining the royalty owed by Apple for its prior infringement, today's verdict also includes an award based on the jury's finding that Apple's modified VPN On Demand, iMessage and FaceTime services have continued to infringe VirnetX's patents.
08:59 EDTGOOGAmazon.com Alphabet Microsoft should get huge cloud boost, says Pacific Crest
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07:07 EDTINTCHMG Strategy is holding a summit
2016 Phoenix CIO Executive Leadership Summit is being held in Scottsdale, AZ on February 4.
05:52 EDTAAPLVirnetX Holding volatility elevated into winning $625M verdict against Apple
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05:52 EDTGOOGGoogle bringing free gigabit internet to public housing across the U.S.
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05:13 EDTAAPLApple implied volatility of 27 at lower end of index mean range
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February 3, 2016
18:16 EDTAAPLVirnetX wins $625.6M in patent infringement case against Apple
VirnetX (VHC) won a $625.6M verdict today in favor of in a patent infringement lawsuit against Apple (AAPL), marking the second time a federal jury has found Apple liable for infringing VirnetX's patented technology. The verdict announced Feb. 3 in the U.S. District Court for the Eastern District of Texas in Tyler includes royalties awarded to VirnetX based on an earlier patent infringement finding against Apple that law firm Caldwell Cassady & Curry also won for VirnetX. The jury found that Apple's modified VPN On Demand, iMessage and FaceTime services infringed VirnetX's patents and that Apple's infringement was willful.
17:56 EDTAAPLVirnetX spikes 74% after Apple ordered to pay damages in patent dispute
17:39 EDTAAPLApple ordered to pay VirnetX $625M in patent ruling, Apple Insider says
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16:00 EDTAAPLOptions Update; February 3, 2016
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13:43 EDTGOOGGoogle to start testing autonomous cars near Seattle, WSJ reports
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13:31 EDTGOOGJohn Giannandrea to become Google's new search chief, Bloomberg reports
John Giannandrea, an executive who has worked on machine intelligence efforts at Google, will become the company's new search chief, Bloomberg reports. Earlier today, current head of search Amit Singhal announced his retirement. Reference Link
12:41 EDTGOOGGoogle's head of search Singhal to leave company, effective February 26
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