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Stock Market & Financial Investment News

News Breaks
May 29, 2014
16:38 EDTKORS, BIIB, HSH, TLYS, PPC, AAPL, PLKI, TSNOn 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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July 21, 2015
16:30 EDTAAPLApple sees Q4 revenue $49B-$51B, consensus $51.05B
Sees Q4 gross margin 38.5%-39.5%.
16:30 EDTAAPLApple reports Q3 EPS $1.85, consensus $1.81
Reports Q3 revenue $49.6B, consensus $49.31B.
16:01 EDTAAPLOptions Update; July 21, 2015
iPath S&P 500 VIX Short-Term Futures down 13c to 16.20. Option volume leaders: AAPL BAC FB BAC MSFT NFLX AMD IBM CHK
15:56 EDTAAPLApple July weekly 131 straddle priced for 5.2% movement into Q3
15:02 EDTAAPLNotable companies reporting after market close
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14:14 EDTAAPLEarnings Watch: Apple flat since last report with iPhone, Watch results in focus
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13:43 EDTAAPLApple services restored after nearly 4-hour outage, CNBC reports
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13:21 EDTAAPLApple July weekly 131 straddle priced for 4.7% movement into Q3
11:39 EDTAAPLApple experiencing issues with App Store, iTunes Store, CNBC reports
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10:05 EDTAAPLApple technical notes ahead of results
The stock has been trading in a range since February of this year that is bound by a low at $120 and a high at $133. There have been three touches at the range high since then and two tests at the low suggesting the bias is for a breakout. If the news is strongly bullish, notably around China sales and guidance, a breakout above $133 and the brief life high at $134.54 would be highly probable. Based on the height of the range the upside potential would be to $147 to $150. Without overhead resistance, price could continue to drift beyond that objective depending on the strength of the news. If the news is a bearish surprise, which very few expect, the low of the range would likely be tested for a third time. A breakdown below $120 would have the same range expectations as on the upside, with a downside target potential to $107 to $105 implied from the range height. Such a move would break the 10-month moving average at $122.16 which has been a good proxy for the uptrend that began off lows in August 2013. The last time this average was broken was during the downturn in price in late 2012 which then ended in August 2013.
09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL FB IBM TSLA BAC PVA NFLX
07:45 EDTAAPLSell PayPal amid mounting payments competition, Piper says
Shares of PayPal (PYPL) advanced over 5% yesterday in the stock's first day of trading following a split from eBay (EBAY), with the majority of research firms issuing optimistic notes on its prospects. This morning, however, analyst Gene Munster of Piper Jaffray recommends selling the share as competition grows in the digital payments space. BEARS: Munster started shares of PayPal with an Underweight rating, the firm's equivalent of a "Sell," saying increased competition could pressure the stock's multiple over the next 6-24 months. Google's (GOOG) Android Pay and Apple's (AAPL) Apple Pay will give consumers a "real alternative to PayPal" for the first time, Munster tells investors in his research note. In addition, interest in payments from Amazon.com (AMZN) and Facebook (FB) bring potential for more digital wallet offerings, the analyst notes. Munster set a $30 price target for PayPal. Of note, Evercore ISI also started coverage of PayPal shares yesterday with a Sell rating. BULLS: Wells Fargo initiated coverage of PayPal yesterday with an Outperform rating, saying the company's unique assets will enable it to maintain its leadership role in digital payments and benefit from the growth of e-commerce. Also upbeat was Robert W. Baird analyst Colin Sebastian, who contends that PayPal has the top pure play online payment system and is continuing to grow its share of the Internet payment market. PayPal should be able to innovate more effectively after its spin-off, added the analyst, who set a $45 price target on the shares. PRICE ACTION: Shares of PayPal are pointing toward further gains in their second day of standalone trading, with the stock up about 2.7% to $41.55 in pre-market trading.
07:38 EDTAAPLApple July weekly volatility elevated into Q2 and outlook
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07:00 EDTAAPLApple granted patent for 'fine tuning' input taps, AppleInsider reports
A patent granted to Apple by the USPTO involves a method of highly granular user interface manipulations by tapping on the side of an iPhone to "nudge" onscreen items with great precision, reported AppleInsider. Reference Link
06:46 EDTAAPLApple July weekly 132 straddle priced for 4.7% movement into Q3
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06:24 EDTBIIBPiper expects 'stronger, bolder' move from Biogen
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06:23 EDTAAPLApple's iPhone 6s will cut 16GB version, M.I.C. Gadget reports
Apple's (AAPL) new iPhone 6s and 6s Plus will not come with a 16GB edition yet will have a 32GB edition with more capacity, M.I.C. Gadget reports, citing "some Foxconn (FXCNY) insiders." Reference Link
06:19 EDTAAPLSilicon Valley giants side with Samsung in battle with Apple, InsideSources says
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06:12 EDTBIIBBiogen implied volatility of 50 at upper end of index
05:34 EDTAAPLPayPal initiated with an Underweight at Piper Jaffray
Piper Jaffray analyst Gene Munster started shares of PayPal (PYPL) with an Underweight rating saying increased competition could pressure the stock's multiple over the next 6-24 months. Underweight is Piper's equivalent of a sell rating. Google's (GOOG) Android Pay and Apple's (AAPL) Apple Pay will give consumers a "real alternative to PayPal" for the first time, Munster tells investors in a research note. In addition, interest in payments from Amazon.com (AMZN) and Facebook (FB) bring potential for more digital wallet offerings, the analyst notes. Munster set a $30 price target for PayPal, which began trading yesterday following a spinoff from parent company eBay (EBAY). Shares of the online payment system closed Monday up $2.08 to $40.47.
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