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January 18, 2013
16:27 EDTMOV, GE, AAPL, COF, LIFE, FB, AMRN, MS, INTCOn The Fly: Closing Wrap
Stocks on Wall Street were mixed on the day, as earnings and economic data did little to spur the markets, which traded in a narrow range for much of the session. Apple (AAPL), Intel (INTC), which traded lower after its earnings report, and Facebook (FB) all lost ground on the day, weighing on the Nasdaq, while the S&P 500 and the Dow gained modestly, closing at five-year highs... ECONOMIC EVENTS: In the U.S., the preliminary University of Michigan Consumer Confidence reading dropped to 71.3, versus an expected first look reading of 75.0 for January. In Asia, China's GDP grew 7.9% in the final quarter of the year. The late-year rebound led the nation's full year GDP to grow 7.8%, beating analyst consensus of 7.7% and the government's 7.5% target. Also, Japan's stock market surged on increased expectations that the government will take even more aggressive easing steps... COMPANY NEWS: General Electric (GE) reported earnings that were just above Street estimates and a record equipment and services backlog of $210B to end the year, sending shares up 74c, or 3.47%, to $22.04 on the day... Morgan Stanley (MS) also reported earnings that beat consensus estimates, and the company said expenses could decline by about $1.6B through 2014. Shares of Morgan Stanley lead the financial sector on the day, gaining $1.63, or 7.86%, to $22.38... Intel lost $1.43, or 6.31%, to $21.25 after the company reported earnings last night that were generally in-line with Street estimates, though investor concerns over slowing sales and continued capital spending spurred a sell-off of shares... MAJOR MOVERS: Among the notable gainers was Life Technologies (LIFE), up $5.82, or 10.59%, to $60.79 as a number analysts said a takeover or leveraged buyout could be in the works for the company following a media report indicating talks are ongoing. Also higher was Movado (MOV), up $3.17, or 9.32%, to $37.17 after shares were upgraded to Buy from Neutral at Citigroup with price target of $40. Among noteworthy losers were shares of Capital One Financial (COF), down $4.60, or 7.47%, to $56.99 after Janney Capital downgraded shares to Neutral citing last night's disappointing Q4 results, and Amarin (AMRN), down 68c, or 7.42%, to $8.48 after an FDA Orange Book update did not indicate further exclusivity for its drug Vascepa... INDICES: The Dow was up 53.68, or 0.39%, to 13,649.70; the Nasdaq was down 1.29, or 0.04%, to 3,134.71; the S&P 500 5.04, or 0.34%, to 1,485.98.
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January 22, 2016
08:36 EDTFBFacebook outlook positive, says Sterne Agee CRT
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08:33 EDTGEGE CEO says 'still enough business out there' to hit goals despite volatility
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07:29 EDTAAPLApple iPhone sales likely to come in at low 50M range in Q1, says Stifel
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07:13 EDTFBFacebook should report strong Q4 results, says Oppenheimer
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07:05 EDTGEGeneral Electric sees 2016 free cash flow + dispositions of $29B-$32B
Now sees 2016 dispositions of $3B-$4B.
07:02 EDTAAPLApple volatility elevated into Q1 and outlook
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06:58 EDTGEGeneral Electric reports Q4 orders up 3% to $32.5B
Reports backlog of $315B. Reports Q4 Equipment orders up 2%, down (1%) organically, with strength in Gas Power Systems and Transportation with India rail order offsetting O&G market & Aviation comps. Reports Q4 Service orders up 5%, up 3% organically.
06:40 EDTGEGE reports Q4 industrial operating + Verticals EPS 52c, consensus 49c
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06:39 EDTGEGE reaffirms goals laid out for 2016
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06:37 EDTGEGE says GE Capital on track to submit application for SIFI de-designation in Q1
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06:37 EDTGEGeneral Electric CEO: First few weeks of 2016 'especially volatile'
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06:36 EDTAAPLApple suppliers expect drop in iPhone orders, Reuters reports
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06:36 EDTGEGE reaffirms FY16 industrial operating + Verticals EPS view $1.45-$1.55
Consensus is $1.51.
06:33 EDTAAPLApple got $1B from Google to maintain search bar on iPhone, Bloomberg says
Google (GOOG) paid Apple (AAPL) $1B in 2014 to keep its search bar on the iPhone, Bloomberg reports, citing a transcript of court proceedings from Oracle's (ORCL) copyright suit against Google. Google has a pact with Apple that gives the iPHone maker a percentage of the revenue Google brings in through the Apple device, the report says, citing an attorney for Oracle at the hearing. Reference Link
06:33 EDTGEGE reports Q4 industrial operating + Verticals EPS 52c, consensus 49c
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06:29 EDTGEGE rally 'a tad too energetic,' WSJ says
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06:05 EDTAAPLPiper's Munster says Apple could rally over 50% by September
Piper Jaffray analyst Gene Munster recommends buying shares of Apple into the company's earnings report on January 26. Over the next six months, the stock will rally on the iPhone number change cycle and experience multiple expansion, the analyst tells investors in a research note. Munster believes shares of Apple could achieve upside of over 50% from current levels by the iPhone 7 launch in September. Apple has traded at a lower multiple than today in only one month, April 2013, over the past 120 months or 10 years, Munster writes. He believes the "historic multiples" being applied to Apple right now imply that bad news is being priced in. The analyst keeps an Overweight rating on the iPhone maker with a $179 price target. Apple closed yesterday down 49c to $96.30.
05:57 EDTAAPLTaiwan smartphone sales to reach 7.5M-8M units in 2016, DigiTimes reports
Smartphone sales in Taiwan are expected to stay flat at 7.5M-8M units in 2016, reports DigiTimes. According to sources from local retail channels, the proportion of sales of high-end models will continue to fall, which will push vendors to focus on renovation and differentiation, while also strengthening their deployments in new products. Reference Link
05:57 EDTAAPLApple hires top researcher in virtual reality, Financial Times reports
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05:46 EDTINTCStocks with implied volatility below IV index mean; INTC SRPT
Stocks with implied volatility below IV index mean; Intel (INTC) 30, Sarepta (SPRT) 169 according to iVolatility.
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