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Stock Market & Financial Investment News

News Breaks
May 29, 2014
16:38 EDTAAPL, HSH, TSN, PPC, BIIB, PLKI, TLYS, KORSOn The Fly: Closing Wrap
Stocks on Wall Street began the session on the plus side and remained there throughout the day. Most of the day was spent close to the flat line as the market essentially ignored the day’s economic data, including a worse than expected downward revision to Q1 gross domestic product. The averages began to lift late in the day to go out on their highs, though once again the move came on light volume. ECONOMIC EVENTS: In the U.S., the Commerce Department estimated that gross domestic product decreased at a 1% annual rate in the first quarter of the year, which is down significantly from the government's first estimate of positive 0.1% growth for the period and below the consensus expectation for a revision to a 0.5% decline. Initial jobless claims dipped 27K to 300K in the week ended May 24 from a revised 327K previously. An index of pending home sales edged up 0.4% to 97.8 in April, which was less than the expected 1% rise. COMPANY NEWS: Apple (AAPL) shares rose $11.37, or 1.82%, to $635.38 after the company confirmed last night that it has agreed to buy Beats Music, which operates a streaming music service, and Beats Electronics, which makes and sells electronic music products such as headphones and speakers, for $3B. Financial Times first reported on May 8, citing people familiar with the negotiations, that Apple was in talks to acquire Beats. In a note to investors after the confirmation, JPMorgan wrote that the deal "is really about what Apple can do with Beats Music" to revitalize its own iTunes music business. Meanwhile, PiperJaffray stated that Apple acquired Beats for several reasons, including the opportunity to bring Beats co-founders Jimmy Iovine and Dr. Dre to Apple to work on content... Hillshire Brands (HSH) jumped $7.94, or 17.73%, to $52.76 after the company received an unsolicited, all-cash takeover offer of $50 per share from Tyson Foods (TSN), which also rose $2.50, or 6.13%, to $43.25. Tyson's newly disclosed offer topped the $45 per share bid announced just two days ago from Pilgrim's Pride (PPC). MAJOR MOVERS: Among the notable gainers was Popeyes Louisiana Kitchen (PLKI), which rose $5.51, or 14.47%, to $43.58 after reporting better than expected quarterly results and raising its fiscal year earnings view. Also higher was Biogen Idec (BIIB), which gained $11.04, or 3.58%, to $319.85 after JPMorgan upgraded the shares to Overweight, citing upside potential from the company's multiple sclerosis franchise as well as its mid-stage pipeline opportunities. Among the noteworthy losers was apparel, footwear and accessory retailer Tilly's (TLYS), which dropped $1.81, or 17.11%, to $8.77 after the company reported a decline in its first quarter same-store sales and gave lower than expected earnings guidance for the new quarter. Also lower were shares of luxury retailer Michael Kors (KORS), which slipped $4.73, or 4.88%, to $92.28 after the stock was downgraded at Avondale to Market Perform from Outperform. INDEXES: The Dow was up 65.56, or 0.39%, to 16,698.74, the Nasdaq was up 22.87, or 0.54%, to 4,247.95, and the S&P 500 was up 10.25, or 0.54%, to 1,920.03.
News For AAPL;HSH;TSN;PPC;BIIB;PLKI;TLYS;KORS From The Last 14 Days
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October 14, 2014
16:22 EDTAAPLOn The Fly: Closing Wrap
The Wall Street averages were mixed after three of the U.S.'s largest banks reported on their quarterly results and Germany slashed its economic forecasts for this year and next. Following the mostly solid earnings reports from the banks and Dow member Johnson & Johnson (JNJ) investors appeared to breathe a sigh of relief and sent the averages higher in early trading. With oil prices falling almost 5% and settling at a recent low, the averages pared their gains and struggled in positive ground. Another late day slide ended with the averages mixed, as the Nasdaq led and the Dow lagged. ECONOMIC EVENTS: In the U.S., the International Energy Agency said in its monthly oil market report that world oil demand growth would be weaker than previously expected. Afterward, WTI crude oil futures fell 4.6% at $81.84, marking their biggest percentage drop since late 2012 and the lowest settlement for the benchmark in over two years. The National Federation of Independent Business' small business optimism index came in at 95.3, versus the consensus expectation for a 95.8 reading. In Europe, Germany's government cut its forecasts for gross domestic product growth to 1.2% in 2014 and 1.3% next year from its prior view of 1.8% growth this year and 2% in 2015. COMPANY NEWS: The first of America's big banks issued their quarterly reports, with JPMorgan's (JPM) headline earnings per share coming in below analysts’ consensus estimate, Wells Fargo (WFC) reporting in-line earnings and improved credit quality and Citigroup (C) posting better than expected adjusted third quarter profit. Citi, which also announced plans to pull back from retail banking in eleven countries and said it will disband a legacy Banamex unit after an investigation uncovered illegal conduct, saw its stock fare the best among the three, rising $1.57, or 3.15%, to $51.47... Another Dow member, Johnson & Johnson, reported better than expected profits and revenues and raised its FY14 EPS outlook, but its stock slid $2.11, or 2.13%, to $97.01. MAJOR MOVERS: Among the notable gainers was Domino's Pizza (DPZ), which rose $8.58, or 11.33%, to $84.30 after the pizza chain owner and franchisor reported better than expected third quarter earnings per share and revenue. Also higher was Skyworks (SWKS), which advanced $3.59, or 7.92%, to $48.91 after the supplier of chips to Apple (AAPL) raised its fourth quarter earnings per share outlook and revenue guidance. Among the noteworthy losers was Exactech (EXAC), which dropped $4.09, or 16.63%, to $20.50 after the company warned its Q3 income and revenue will likely miss its prior guidance. Also lower were shares of Gilead (GILD), which fell $4.26, or 4.2%, to $97.18 amid a number of developments. Competitor Johnson & Johnson said it would seek to make its own hepatitis C treatment accessible and "competitive," which some may have read as an indication of a potential price cut, and Ireland said it plans to close its "Irish Double" tax loophole, which currently benefits Gilead. INDEXES: The Dow slipped 5.88, or 0.04%, to 16,315.19, the Nasdaq rose 13.52, or 0.32%, to 4,227.17, and the S&P 500 added 2.96, or 0.16%, to 1,877.70.
16:00 EDTAAPLOptions Update; October 14, 2014
iPath S&P 500 VIX Short-Term Futures down 40c to 39.11. Option volume leaders: AAPL TSLA TWTR AMZN GILD C JNJ AA NFLX PBR according to Track Data.
14:02 EDTAAPLApple moves back to lows of the day, levels to watch
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13:18 EDTAAPLSkyworks guidance should be well above consensus, says Craig-Hallum
After Skyworks pre-announced September quarter upside, Craig-Hallum says it expects the company's revenue outlook for the December quarter to be well above consensus. The firm believes Skyworks is benefiting from record Apple (AAPL) iPhone sales. It estimates Skyworks has around $5.50 worth of content in the iPhone 6/6+, up from $4.80 in the iPhone 5S/5C. Craig-Hallum reiterates a Buy rating on the stock with a $62 price target.
11:23 EDTBIIBBIND Therapeutics and The Conference Forum hold a conference
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10:49 EDTAAPLWells Fargo says spending more on compliance, risk management
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10:43 EDTAAPLSkyworks benefiting from gains at Apple, China 4G/LTE ramp, says Oppenheimer
Oppenheimer raised its estimates on Skyworks (SWKS) after the company pre-announced better than expected Q4 results. The firm expects sustained tailwinds into and beyond next quarter for Skyworks based on continued shares gains at Apple (AAPL) and from rising 4G/LTE phone sales in China. Oppenheimer maintains its Outperform rating and $65 price target on Skyworks and says the stock remains one of its top picks.
09:37 EDTAAPLActive equity options trading on open
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09:37 EDTAAPLDomino's Pizza sees potential for additional 3.8K stores in top 15 markets
Says has 'robust' international business. Says its store count growing faster internationally than Pizza Hut or Papa Johns (PZZA). Pizza Hut is owned by Yum! Brands (YUM). Says now offering voice ordering for Apple's (AAPL) iPhone and Google's (GOOG) Android operating systems. Says in terms of the franchise's long-range outlook, sees global net units to increase 4%-6%, sees domestic SSS to increase 2%-4%, sees international SSS to increase 3%-6% and sees global retail sales to increase 6%-10%. Comments taken from the company's Q3 earnings conference call slide presentation.
07:24 EDTAAPLApple price target raised to $110 from $96 at Credit Suisse
Credit Suisse raised Apple's price target to $110 and materially raised estimates to reflect new iPhone forecasts. The firm maintains its Neutral rating based on limited upside.
06:37 EDTAAPLUMC lands 28nm LTE chip orders from Qualcomm, DigiTimes reports
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06:36 EDTAAPL'Double Irish' tax arrangement poised to halt, itnews says
Ireland is positioned to enact legal revisions soon that will slowly cease its "Double Irish" tax agreement, which has allowed companies like Google (GOOG) and Apple (AAPL) to not spend billions of dollars worth of taxes, according to itnews, citing, two sources familiar with the situation. Reference Link
06:30 EDTAAPLApple expected to show new iPads at Thursday's event, Re/code says
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06:30 EDTAAPLSolvay, Apple allegedly enter supply agreement, Bloomberg says
Solvay (SVYZY) and Apple (AAPL) have supposedly entered a supply agreement in which the Belgium chemical company will supply a type of high-performance plastic for iPhone 6 devices, according to Bloomberg, citing two people with knowledge of the situation. Reference Link
05:48 EDTKORSMichael Kors initiated with a Hold at Stifel
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October 13, 2014
16:02 EDTAAPLOptions Update; October 13, 2014
iPath S&P 500 VIX Short-Term Futures up 3.71 to 39.56. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX SUNE GILD BAC PBR according to Track Data.
09:39 EDTAAPLActive equity options trading on open
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08:31 EDTAAPLApple says iPhone 6, 6 Plus to arrive in 36 more countries this month
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06:41 EDTAAPLWalgreens to roll out Apple Pay on October 18, MacRumors reports
Walgreens (WAG) will begin rolling out Apple Pay (AAPL) on Saturday, October 18, according to a memo obtained by MacRumors. Reference Link
06:05 EDTAAPLReport: Apple iPhone 6 pre-orders in China reach 20M, Digitimes says
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