News For AAPL;INTC;C;GOOG;LVS From The Last 14 Days
|October 5, 2015|
|06:53 EDT||C||Average ATM fees reach $4.52, WSJ says |
The average ATM fee rose to $4.52 this year as regulators have pressured banks to reduce other fees and consumers aren't using ATMs as frequently as in the past, reports the Wall Street Journal, citing a Bankrate Inc. survey. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB), Wells Fargo (WFC), and Cardtronics (CATM). Reference Link
|06:21 EDT||LVS||Vegas casinos look to buy own electricity, WSJ reports|
MGM Resorts (MGM), Wynn Resorts (WYNN), and Las Vegas Sands (LVS) say they could cut millions of dollars from their electric bills if they buy directly from solar farms or power-plant owners, reports the Wall Street Journal. According to documents released by the state's Public Utilities Commission, Berkshire Hathaway's (BRK.A) NV Energy is pushing regulators to make it expensive for casinos to stop buying its power. Reference Link
|06:11 EDT||AAPL||Apple iOS users in China, Taiwan targeted by ad-focused malware|
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|06:00 EDT||AAPL||Reports: iPhone 6s & 6s Plus were weaker than iPhone 6 in Japan, DigiTimes says|
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|October 4, 2015|
|18:23 EDT||GOOG||Google completes Alphabet merger|
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|13:54 EDT||GOOG||Google, Facebook set to continue dominating web ads, Barron's says|
Google (GOOG) and Facebook (FB) are likely to continue dominating online advertising, with Twitter (TWTR), Yahoo (YHOO), and LinkedIn (LNKD) increasingly becoming "distant rivals" as advertisers flock to the two biggest names in the space, Barron's contends in its 'Technology Trader' column. Shares of Google and Facebook "probably have decent upside from here," while the future of Angie's List (ANGI) and Yelp (YELP) looks "less certain," Barron's adds. Reference Link
|October 2, 2015|
|16:46 EDT||LVS, AAPL||Stocks end week higher after Friday reversal following disappointing jobs data|
U.S. markets fell sharply following a weaker than expected nonfarm payrolls report on Friday morning, but rallied back to finish the day, and the week, slightly higher. MACRO NEWS: In the U.S., 142,000 nonfarm jobs were added last month, missing expectations for 201,000 job additions. Average hourly earnings were flat month-over-month, compared to expectations for them to rise 0.2% in September. The unemployment rate held at 5.1%, as expected. Factory orders fell 1.7% in August, versus expectations for them to drop 1.2%. Personal income grew 0.3% in August, versus expectations for it to rise 0.4%. Personal spending rose 0.4% last month, versus expectations for growth of 0.3%. Consumer confidence unexpectedly rose in September, as a confidence reading strengthened to 103.0. Markit's manufacturing purchasing managers' index inched up to 53.1 in the final September reading, compared to the preliminary September figure of 53.0. ISM's manufacturing index fell to 50.2 in September, versus expectations for a reading of 50.6... Chinese markets will be closed for "Golden Week" from October 1 to October 7, but monthly manufacturing data was still released. The government's official manufacturing PMI ticked up to 49.8, beating expectations for a 49.6 reading, while the final Caixin/Markit PMI fell to 47.2 in September, though that was slightly improved from an earlier flash estimate of 47. In Japan, the central bank's quarterly tankan survey of large manufacturers for the September quarter came in at positive 12, compared with expectations for a positive 13 reading. Elsewhere in Asia, the Reserve Bank of India made a larger than expected cut to its interest rates, lowering its benchmark policy rate to 6.75% from 7.25%... In Europe, Markit's final Eurozone manufacturing PMI for September came in at 52.0, down from August's final 52.3 reading but still in expansion territory. COMPANY NEWS: Apple (AAPL) reported that it set a record by selling more than 13M new iPhone 6s and iPhone 6s Plus models in the first three days after launch of the devices. However, shares of the tech giant slid following the announcement... Biotech stocks continued recent declines, with Valeant (VRX) dropping after a group of Democratic congressmen urged additional scrutiny of the company's "price hike" business model... Re/code's Kara Swisher and Kurt Wagner reported, citing sources, that Twitter (TWTR) founder and interim CEO Jack Dorsey was set to be named permanent Chief Executive, possibly as soon as Thursday, but no announcement had been made by the company by the end of the week. Shares of Gap (GPS) and Ralph Lauren (RL) moved in opposite directions after an executive for one left to take over for an icon at the other. At least three research firms downgraded Gap shares to sell or equivalent ratings and the stock fell after Stefan Larsson stepped down as global president of Old Navy in order to become the new Chief Executive Officer of Ralph Lauren, while the latter company's shares were upgraded and traded higher in the wake of the executive shake-up... On the M&A front, Reynolds American (RAI) announced that the international rights to the Natural American Spirit brand name and associated trademarks will be sold to the Japan Tobacco Group in an all-cash transaction with a value of about $5B. Nexstar (NXST) proposed to acquire Media General (MEG) for a combination of cash and shares that was valued at $14.50 per Media General share before the proposal was made public on September 28. Media General, which previously announced an agreement to buy Meredith Corporation (MDP), said it would "carefully review and consider the proposal" with the help of its advisors. Shares of Rentrak (RENT) and comScore (SCOR) both advanced after the companies announced a stock-for-stock merger agreement... General Motors (GM) reported its U.S. sales grew 12% in September compared to the same month of last year. Additionally, the auto giant hosted a global business update event, where it announced two new car- and ride-sharing projects and confirmed its plans to jointly develop a commercially viable fuel cell vehicle with Honda (HMC) in the 2020 timeframe. Meanwhile, Ford (F) said its U.S. sales rose 23% in September and Fiat Chrysler's (FCAU) U.S. sales increased 14% last month... FXCM (FXCM) disclosed that it was the victim of a cybersecurity attack involving "a small number of unauthorized wire transfers from customer accounts" and Experian (EXPGY) announced that one of its units experienced an attack by hackers that exposed data from its client T-Mobile (TMUS)... Wynn Resorts (WYNN), Las Vegas Sands (LVS), MGM Resorts (MGM) and Melco Crown (MPEL) all advanced at the end of the week following reports that the Chinese government may provide economic support to the gaming center Macau, where the companies operate casinos. INDEXES: The Dow gained about 0.96% to close at 16,472.37, the S&P 500 rose about 1.02% to close at 1,951.36, and the Nasdaq advanced about 0.43% to close at 4,707.77.
|16:27 EDT||LVS||On The Fly: Top stock stories for Friday|
Stocks on Wall Street were lower at the open after the government's monthly jobs report showed fewer people than expected were hired last month and average hourly wages did not increase. However, the major indexes gathered themselves and began drifting higher, crossing back into the green in early afternoon trading. Before this morning, many investors expected that the Federal Reserve would start raising interest rates before the end of the year, but the jobs data for September has certainly raised doubts in that regard. ECONOMIC EVENTS: In the U.S., 142,000 nonfarm jobs were added last month, missing expectations for 201,000 job additions. Average hourly earnings were flat month-over-month, compared to expectations for them to rise 0.2% in September. The unemployment rate held at 5.1%, as expected. Factory orders fell 1.7% in August, versus expectations for them to drop 1.2%. Baker Hughes said that the U.S. rig count fell by 29 total rigs from last week to 809. COMPANY NEWS: Shares of big banks were underperformers after the jobs report cast doubt on how soon the Fed will begin raising interest rates. Shares of Wells Fargo (WFC) slid 0.32%, JPMorgan (JPM) dropped 0.21% and Bank of America declined 1.09%... Two of the nation's big four wireless carriers were in the news after Experian (EXPGY) announced that one of its units experienced an attack by hackers that exposed data from its client T-Mobile (TMUS) and The Wall Street Journal reported that Sprint (S) plans to eliminate as much as $2.5B in costs and make job cuts over the next six months. MAJOR MOVERS: Among the notable gainers was Wynn Resorts (WYNN), which surged 22.73% to $63.47 following reports that the Chinese government may provide economic support to the gaming center Macau, where Wynn and several peers operate casinos. Shares of Las Vegas Sands (LVS) gained 10.52%, MGM Resorts (MGM) rose 6% and Melco Crown (MPEL) advanced 13.88% after the news as well. Among the noteworthy losers was Amicus Therapeutics (FOLD), which dropped 53.53% to $6.39 after the company said it is unlikely to submit a New Drug Application for its Fabry disease treatment to the FDA by the end of the year. Also lower were shares of backup generator maker Generac (GNRC), which fell 5.18% to $27.62 after weather forecasters' latest models predicted that Hurricane Joaquin may stay offshore and not make landfall along the East Coast of the U.S. INDEXES: The Dow rose 200.36, or 1.23%, to 16,472.37, the Nasdaq gained 80.69, or 1.74%, to 4,707.77, and the S&P 500 advanced 27.54, or 1.43%, to 1,951.36.
|16:03 EDT||AAPL, C||Options Update; October 2, 2015|
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|14:09 EDT||AAPL||Apple November weekly volatility elevated |
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|14:08 EDT||AAPL||Apple acquires speech technology start-up VocalIQ, FT reports|
Apple confirmed that it has acquired speech technology start-up VocalIQ, whose software helps computers and people communicate in a more natural dialogue, reported Financial Times. "Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans," Apple stated. Reference Link
|13:34 EDT||INTC||Altera to host special shareholder meeting|
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|13:26 EDT||C||Banks, brokers slide as weak jobs report pushes out rate hike|
Shares of banks and brokers are sliding after a weak jobs report pushed out the probability of near-term rate hike. WHAT'S NEW: Friday morning, the Labor Department reported that the U.S. economy added only 142,000 jobs in September compared to economists expectations of 203,000. The Labor Department's September jobs report strengthened the argument that the Fed will not raise rates in October, and even lessened the probability of a December rate hike. An increase in interest rates would let banks and brokers benefit from higher spreads on deposits. PRICE ACTION: Shares of Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB), and Wells Fargo (WFC) are all declining despite a rebound in the broad market. OTHERS TO WATCH: Shares of online brokers, including TD Ameritrade (AMTD), Charles Schwab (SCHW), E*TRADE (ETFC), and Interactive Brokers (IBKR) are also lower in afternoon trading.
|12:40 EDT||LVS||On The Fly: Top stock stories at midday|
Stocks on Wall Street were sharply lower early this morning after the government's monthly jobs report showed fewer people than expected were hired last month and wages stagnated. However, the averages gathered themselves about a half an hour after the opening bell and began drifting higher, making their way all the way back to unchanged near the lunch hour. ECONOMIC EVENTS: In the U.S., 142,000 nonfarm jobs were added last month, missing expectations for 201,000 job additions. Average hourly earnings were flat month-over-month, compared to expectations for them to rise 0.2% in September. The unemployment rate held at 5.1%, as expected. Factory orders fell 1.7% in August, versus expectations for them to drop 1.2%. COMPANY NEWS: Shares of Macau casino operators rallied following reports that the Chinese government may provide economic support to the gaming center. China's government might clarify the city's jurisdiction over certain land and sea waters, which may lead to Macau having more space for development, and the government is also looking into how to increase the city's tourism, Bloomberg said, citing local reports. At midday, shares of Wynn Resorts (WYNN) were up 17%, while Las Vegas Sands (LVS) gained 8% and MGM Resorts (MGM) rose 4%. MAJOR MOVERS: Among the notable gainers was CalAmp (CAMP), which gained 14% after the wireless communications solutions provider reported better than expected earnings and revenue. Also higher was Barracuda Networks (CUDA), which gained 11% after its board authorized the purchase of up to $50M of its common stock. JPMorgan analyst Sterling Auty says Barracuda's share repurchase program takes advantage of the stock's "attractive" valuation and sends a positive signal to the market. Among the noteworthy losers was Amicus Therapeutics (FOLD), which dropped 47% after the company said it is unlikely to submit a New Drug Application for its Fabry disease treatment to the FDA by the end of the year. Also lower were shares of Teladoc (TDOC), which fell 15% after Deutsche Bank analyst George Hill pointed out that Western Pennsylvania insurer Highmark will not be renewing its contract that is set to expire on December 31. INDEXES: Near midday, the Dow was down 4.51, or 0.03%, to 16,267.50, the Nasdaq was up 9.58, or 0.21%, to 4,636.67, and the S&P 500 was down 0.72, or 0.04%, to 1,923.10.
|12:25 EDT||LVS||Macau casino shares rally on report of possible government aid|
Shares of Macau casino operators rallied after the government of Macau reported September revenue in line with forecasts and amid reports that the Chinese government may provide economic support to the city. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Crown (MPEL) and Wynn Resorts (WYNN). WHAT'S NEW: According to the Macau government website, gaming sector revenue for the month of September was down 33% year-over-year to 17.13B patacas, marking the 16th straight month of decline. Through September, Macau gaming revenue is down 36.2% compared to the first nine months of 2014. WHAT'S NOTABLE: Macau Chief Executive Officer Fernando Chui said that the government will pay "close attention" to gaming revenues in September and the fourth quarter and that he would reconsider any "non-essential" spending during a time of gaming industry consolidation. Chui previously said the city plans to announce a new tourism strategy "soon" to attract more visitors. In addition, Beijing plans to introduce additional policies this year to support Macau amid an economic adjustment, Bloomberg reports, citing local Macau broadcaster Teledifusao de Macao. According to Li Gang, director of the Chinese government's local liaison office in Macau, the report says Beijing might clarify the city's jurisdiction over certain land and sea waters, which may lead to the city having more space for development, and the government is also looking into how to increase the city's tourism. ANALYST OPINION: Any potential measures to help Macau's visitation "could be a great boon for the industry," Bloomberg cited JPMorgan analyst DS Kim as saying. PRICE ACTION: At midday, Las Vegas Sands was up 8.27 to $40.04, MGM Resorts rose 4.23% to $19.45, Wynn Resorts rallied 17.27% to $60.64, and Melco Crown jumped 10.13% to $15.00.
|12:09 EDT||INTC||Microsoft acquires Havok from Intel, terms not disclosed|
In a company blog post, Microsoft (MSFT) said, "Today, we are proud to announce that Microsoft has acquired Havok, the leading provider of 3D physics, from Intel (INTC). As we welcome Havok to the Microsoft family, we will continue to work with developers to create great gaming experiences, and continue to license Havok's development tools to partners." Reference Link
|11:55 EDT||GOOG||Google expects Alphabet merger to close today |
Google announced that it expects the Alphabet merger will close after the close of business today, October 2. Google anticipates that shares of Google Class C Capital Stock and shares of Google Class A Common Stock will begin trading as Alphabet Class C Capital Stock and Alphabet Class A Common Stock, respectively, on the NASDAQ on October 5. Shares of Alphabet Class C Capital Stock and shares of Alphabet Class A Common Stock will continue to be traded under the same ticker symbols under GOOG and GOOGL, respectively.
|10:23 EDT||GOOG||Analyst predicts Facebook-like turnaround for Twitter shares|
Twitter (TWTR) shares have been cut in half over the last six months, but an analyst at Deutsche Bank sees a positive sentiment swing like the one that Facebook (FB) has had since 2012 as possible for the microblog operator. POSITIVE NEWS COMING: Deutsche Bank analyst Ross Sandler says he remains "firmly in the bull camp" on Twitter. A host of positive news is forthcoming, including the October 6 launch of Moments, better than expected revenue in the Q3 earnings report, and the filing of the CEO role along with a board re-shuffle. These events should be positive for investor sentiment, Ross told investors in a research note. His channel checks continue to suggest "solid revenue trajectory" for Twitter in most markets, including U.S. direct sales, self-serve and international. Ross believes sentiment on Twitter has "swung too far to the negative," likening the current view on Twitter to where sentiment stood on Facebook in 2012 and recalling when Google (GOOG) went out of favor in the first half of 2015. Ross keeps a Buy rating on Twitter shares with a $50 price target. CEO REPORT: On September 30, Re/code's Kara Swisher and Kurt Wagner reported, citing sources, that Twitter founder and interim CEO Jack Dorsey was set to be named permanent Chief Executive, possibly as soon as yesterday, though no company announced has yet been made. Re/code also reported at the time that Dorsey will remain as CEO of Square, the payments company he also founded. MORE CAUTIOUS STANCE: On September 24, Citi analyst Mark May said his analysis indicated that consensus estimates for Twitter may be too high as they assume "meaningful increases" in monetization, which he believes may prove difficult to realize. May cut his 2015, 2016 and 2017 earnings per share estimates for Twitter well below the consensus estimates and also cut his 2016 revenue estimate to 3% below the consensus. The analyst moved the stock to Citi's "High Risk" designation, given Twitter's recent user trends and his belief that his estimates are unlikely to move up in the near-term, and kept a Neutral rating on the name. PRICE ACTION: Since April 6, Twitter shares have declined roughly 50%, though the stock rose about 1.8% to $25.13 in early trading this morning in a down market. Since closing at $17.73 on September 4, 2012, Facebook shares have advanced to $88.83 in morning trading today.
|10:03 EDT||AAPL||Target to begin selling Apple Watch at stores this week|
Target (TGT) announced that the Apple (AAPL) Watch is coming to Target stores this week and all stores by October 25. At Target.com, Apple Watch will be available beginning Oct. 18. Reference Link
|10:00 EDT||AAPL||On The Fly: Analyst Initiation Summary|
Today's noteworthy initiations include: Anthem (ANTM) initiated with a Buy at Citi... Apple (AAPL) initiated with a Buy at Drexel Hamilton... BioMarin (BMRN) initiated with an Outperform at Raymond James... Brookfield Property (BPY) initiated with a Buy at Evercore IS... Carbylan (CBYL) initiated with an Outperform at JMP Securities... Centene (CNC) initiated with a Buy at Citi... Cigna (CI) initiated with a Buy at Citi... Community Health (CYH) initiated with a Neutral at Citi... Diamondback Energy (FANG) initiated with a Buy at Evercore ISI... Domino's Pizza (DPZ) initiated with a Buy at Nomura... Envision Healthcare (EVHC) initiated with a Neutral at Citi... First Merchants (FRME) initiated with an Equal Weight at Stephens... FirstService (FSV) initiated with a Buy at Sidoti... HCA Holdings (HCA) initiated with a Neutral at Citi... Hibbett Sports (HIBB) initiated with a Market Perform at Barrington... Horizon Bancorp (HBNC) initiated with an Overweight at Stephens... LifePoint (LPNT) initiated with a Buy at Citi... MEDNAX (MD) initiated with a Neutral at Citi... Madison Square Garden (MSG) initiated with a Buy at BTIG... MainSource Financial (MSFG) initiated with an Overweight at Stephens... McDonald's (MCD) initiated with a Neutral at Nomura... MutualFirst Financial (MFSF) initiated with an Equal Weight at Stephens... Old Dominion (ODFL) initiated with a Buy at BofA/Merrill... PNC Financial (PNC) initiated with a Neutral at Hilliard Lyons... Papa John's (PZZA) initiated with a Buy at Nomura... Parsley Energy (PE) initiated with a Buy at Evercore ISI... PayPal (PYPL) initiated with a Sector Weight at Pacific Crest... RSP Permian (RSPP) initiated with a Buy at Evercore ISI... Radian Group (RDN) initiated with a Market Perform at Wells Fargo... Radius Health (RDUS) initiated with an Overweight at JPMorgan... Rogers Corporation (ROG) initiated with a Neutral at B. Riley... Smart & Final Stores (SFS) initiated with a Perform at Oppenheimer... Sprint (S) initiated with a Neutral at DA Davidson... State National (SNC) initiated with an Outperform at JMP Securities... T-Mobile (TMUS) initiated with a Buy at DA Davidson... Tenet (THC) initiated with a Neutral at Citi... UnitedHealth (UNH) initiated with a Buy at Citi... Universal Health (UHS) initiated with a Neutral at Citi... Wendy's (WEN) initiated with a Neutral at Nomura... Yum! Brands (YUM) initiated with a Buy at Nomura.