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Stock Market & Financial Investment News

News For AAPL;JPM;RDSA;NVS;BKS;WDC;GD;VIA;VIAB;BLK;MPC From The Last 14 Days
Check below for free stories on AAPL;JPM;RDSA;NVS;BKS;WDC;GD;VIA;VIAB;BLK;MPC the last two weeks.
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May 23, 2013
11:56 EDTJPMVisa names Ryan McInerney president
Visa (V) announced the appointment of Ryan McInerney as president of Visa. In this role, McInerney will be responsible for Visa's global client organization, product management as well as a new solutions group, which will focus on building and bringing to market new products and services to Visa's issuer, acquirer and merchant clients. Mr. McInerney will report to Charlie Scharf, CEO of Visa . McInerney joins Visa from JP Morgan Chase (JPM) where he was the CEO of Consumer Banking.
09:59 EDTAAPLAnalyst: Apple won't launch computerized watch until late 2014, BGR says
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09:37 EDTAAPLActive equity option families trading on open
Active equity option families trading on open according to Track Data: AAPL NFLX GOOG HPQ
09:25 EDTAAPLSamsung's Galaxy S4 reaches 10M channel sales
Samsung Electronics announced that global channel sales of its GALAXY S4 has surpassed 10M units sold in less than one month after its commercial debut. Launched globally on April 27 in 60 countries, the phone is estimated to be selling at a rate of four units per second.
08:10 EDTJPMJPMorgan compelling at current levels, says RW Baird
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07:12 EDTJPMWall Street trying to use trade deals to weaken Dodd-Frank, Bloomberg reports
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07:11 EDTAAPLEU's Barnier wants big companies to disclose national tax bills, Reuters reports
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06:32 EDTJPMDimon looks to improve JPMorgan after winning vote, NY Times says
After JPMorgan's (JPM) shareholders voted to allow Jamie Dimon to keep his dual role as the bank's CEO and chairman, Dimon is looking to repair the bank's relationship with regulators and "fortify risk controls," according to The New York Times. Reference Link
06:29 EDTJPMSoftware firm Luxoft files for IPO in New York, Bloomberg reports
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06:08 EDTJPM, AAPLOn the Fly: Periodicals Wrap-Up
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06:04 EDTAAPLApple hoping to launch music service at June conference, NY Post reports
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05:48 EDTBLK, JPMProxy advisers see their power diminish, WSJ reports
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05:45 EDTAAPLBig companies remove subsidiaries based on SEC disclosure rules, WSJ reports
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May 22, 2013
14:54 EDTJPMJPMorgan not likely to add new board members soon, Bloomberg says
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12:07 EDTAAPLConsumer Reports says Galaxy S 4 is top smartphone, iPhone 5 fifth, CNN says
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12:05 EDTVIA, VIABViacom increases quarterly dividend to 30c from 27.5c
Viacom announced that its board has approved an increase in its quarterly dividend to 30c per share of Class A and B common stock from 27.5c per share. The increase will take effect beginning with Viacom's next quarterly dividend, payable on July 1, to stockholders of record at the close of business on June 14.
12:03 EDTVIAB, VIAViacom raises quarterly dividend to 30c from 27.5c
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10:31 EDTJPMJPMorgan spikes higher along with peers, levels to watch
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09:42 EDTAAPLApple rises in early trading, levels to watch
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09:39 EDTAAPLActive equity option families trading
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09:02 EDTJPMFinancials upgraded to Overweight from Market Weight at Wells Fargo
Wells Fargo believes that financials' earnings continue to be the strongest of any sector in the S&P 500. The firm thinks that the sector's stocks appear to be breaking out from a technical standpoint. Citigroup (c) and Ameriprise Financial (AMP) are on the firm's priority list.
07:10 EDTAAPLApple bonds lose $280.6M as rates increase, Bloomberg reports
Apple’s bonds have lost $280.6M of market value since buyers bought $17B of the iPhone maker’s debt last month, declining as yields climb from record lows, reports Bloomberg.Reference Link
07:09 EDTAAPLApple used unusual tax loophole in Ireland to shelter billions, Reuters reports
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06:02 EDTAAPLOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Since the financial crisis, bonds backed by a single loan have been less common than securities made up of a group of unrelated loans. But the market for loans on commercial properties has changed in recent months and is booming again--$12.1B so far this year--the Wall Street Journal reports...Big phone companies (SAP, T, TEF, VZ, VOD, CCO) have begun to sell the vast amounts of data they gather about their subscribers' locations, travels and Web-browsing habits. The information provides a powerful tool for marketers but raises new privacy concerns, the Wall Street Journal reports...REUTERS: Apple's (AAPL) ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs. Apple channeled profits into Irish-incorporated subsidiaries that had no declared tax residency anywhere in the world, Reuters reports...The dollar languished well below last week's 4 1/2-year high against the yen today, ahead of testimony from the Fed Chairman Bernanke after two regional Fed presidents hinted that the central bank will continue its bond-buying scheme, Reuters reports...BLOOMBERG: Samsung (SSNLF) and LG Electronics are reworking their strategies for high-end TVs after spending billions of dollars on a new display technology that’s behind schedule and costs nearly $10,000 a set. The misstep has created an opening for Sony (SNE), Sharp (SHCAY) and Chinese maker Skyworth Digital, Bloomberg reports...Apple’s (AAPL) bonds have lost $280.6M of market value since buyers snapped up $17B of the iPhone maker’s debt last month, declining as yields climb from record lows, Bloomberg reports.
May 21, 2013
16:26 EDTJPMOn The Fly: Closing Wrap
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16:04 EDTAAPLOptions Update; May 21, 2013
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12:36 EDTJPMOn The Fly: Midday Wrap
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11:47 EDTJPMJPMorgan holders vote to keep Dimon as Chairman, CEO
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11:09 EDTJPMJPMorgan's Raymond says 'stay tuned' on composition of risk committee
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11:03 EDTJPMJPMorgan's Dimon says more regulatory consent orders expected
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11:01 EDTBLKBlackRock buys private equity real estate fund MGPA, Reuters says
BlackRock bought private equity real estate fund MGPA, increasing the firms presence in Asia and Europe says Reuters. Reference Link
10:00 EDTBLKOn The Fly: Analyst Upgrade Summary
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09:42 EDTAAPLActive equity option families trading on open
Active equity option families trading on open according to Track Data: AAPL HD MCP ABX TSLA C
09:34 EDTAAPLApple trades lower, levels to watch
The shares are down less than 1% in the early going, last at $439.04. At that price, next support is at $437.85, a prior pivot high and then at $433.26. Resistance is at $444.46.
09:33 EDTBLKBloomberg LINK to host a summit
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09:10 EDTWDCWestern Digital price target raised to $68 from $58 at Lazard Capital
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09:03 EDTJPMJPMorgan CEO looks set to hold onto chairman role, NY Times reports
Preliminary votes indicate JPMorgan CEO Jamie Dimon will hold onto his title of chairman, New York Times reports, citing people who have seen today's shareholder vote results. Reference Link
08:12 EDTAAPLSenate Homeland Security and Governmental Affairs Committee to hold a hearing
The Permanent Subcommittee on Investigations holds a hearing entitled, "Offshore Profit Shifting and the U.S. Tax Code - Part 2 (Apple Inc.)" with CEO Cook, SVP & CFO Oppenheimer and Head of Tax Operations Bullock of Apple (AAPL) on May 21 at 9:30 am. Webcast Link
07:50 EDTAAPLIreland rejects allegations that it's a tax haven, FT reports
Ireland rejected allegations contained in a U.S. Senate committee report that it is a tax haven which has helped Apple avoid paying billions of dollars in taxes worldwide, reports the Financial Times. Deputy Prime Minister Eamon Gilmore said Ireland was “a highly tax compliant country” and loopholes in other countries were to blame for multinational companies’ use of complex tax avoidance strategies. Reference Link
07:44 EDTNVSSachs Associates to host a forum
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07:32 EDTJPMJPMorgan's Mowat likes India among emerging market stocks, Economic Times says
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07:24 EDTNVSGlobal Health Care to host a conference
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07:13 EDTJPMU.S. bank mergers less likely this year, Bloomberg reports
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07:11 EDTJPMJPMorgan board changes expected, WSJ reports
JPMorgan Chase plans to shake-up of its board even if every director wins re-election at today’s shareholder meeting and James Dimon keeps his dual job as chairman and CEO, reports the Wall Street Journal.Reference Link
07:05 EDTAAPLSenate report says Apple avoided paying taxes on $44B of income, Politico says
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06:10 EDTJPMOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: JPMorgan Chase (JPM) plans to shake-up of its board even if every director wins re-election at today’s shareholder meeting and James Dimon keeps his dual job as chairman and CEO, the Wall Street Journal reports...Mutual-fund firms are joining activist investors in getting more aggressive over demands for change in how board members are paid at U.S. companies. Activist investors have been experimenting more frequently with incentive pay packages for the board members they nominate in proxy fights, the Wall Street Journal reports...REUTERS: Specialty chemicals producer Rockwood Holdings’s (ROC) pigments businesses have attracted offers from buyout firms including Blackstone Group (BX) and Advent International, sources say, Reuters reports...The Asian prime brokerage unit of Credit Suisse (CS) replaced Morgan Stanley (MS) as the second largest firm servicing the region's $148B hedge funds industry, according to a survey by AsiaHedge. Goldman Sachs (GS) remains Asia's top prime broker with 179 clients and total assets under management of $24.6B, Reuters reports...BLOOMBERG: Bank managers in the U.S. are less likely to engage in mergers and acquisitions this year as regulators heighten scrutiny on potential deals and sellers wait for higher valuations, according to a KPMG survey, Bloomberg reports...PIMCO’s Bill Gross says the bull market for bonds may have ended last month. But investors are staying put. Four years into the biggest rally in U.S. stocks since 2000, bond mutual funds are attracting more money than their equity counterparts, Bloomberg reports.
06:08 EDTJPMSurging equity sales in Poland attract investment firms, Bloomberg reports
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06:00 EDTBLKBlackRock upgraded to Outperform from Neutral at Macquarie
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May 20, 2013
17:12 EDTAAPLApple has avoided paying taxes on operations for five years, U.S. Senate says
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17:11 EDTAAPLApple Operations International has no physical presence, says Senator Levin
Apple Operations International has no physical presence and no employees, according to Senator Levin. Two of three directors are Apple employees, based in the U.S., the Senator added.
16:02 EDTAAPLOptions Update; May 20, 2013
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15:19 EDTAAPLApple sees paying over $7B in taxes to U.S. in current fiscal year
Apple released testimony the company plans to give before the permanent subcommittee on investigations of the U.S. Senate tomorrow. In part, the company plans to state it expects to pay over $7B in taxes to the U.S. Treasury in its current fiscal year. Apple also contends it is "likely the largest corporate income tax payer in the US, having paid nearly $6B in taxes" to the U.S. in FY12. Reference Link
12:04 EDTAAPLApple rumored to be testing OLED for iWatch, AppleInsider says
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11:37 EDTJPMCalpers votes to separate Dimon's dual roles at JPMorgan, Bloomberg reports
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10:11 EDTBLKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Artisan Partners (APAM) downgraded to Market Perform from Outperform at Keefe Bruyette... Bank of America (BAC) downgraded to Market Perform from Outperform at Keefe Bruyette... Bed Bath & Beyond (BBBY) downgraded to Hold from Buy at Jefferies... BlackRock (BLK) downgraded to Market Perform from Outperform at Keefe Bruyette... Cavium (CAVM) downgraded to Market Perform from Outperform at JMP Securities... Charles Schwab (SCHW) downgraded to Underperform from Market Perform at Keefe Bruyette... Dunkin' Brands (DNKN) downgraded to Neutral from Buy at Longbow... Equifax (EFX) downgraded to Neutral from Buy at Goldman... Leap Wireless (LEAP) downgraded to Sell from Hold at Deutsche Bank... Lowe's (LOW) downgraded to Perform from Outperform at Oppenheimer... MicroStrategy (MSTR) downgraded to Market Perform from Outperform at JMP Securities... NetApp (NTAP) downgraded to Underperform from Neutral at RW Baird... NeuStar (NSR) downgraded to Neutral from Buy at Goldman... Red Hat (RHT) downgraded to Market Perform from Outperform at BMO Capital... Ruby Tuesday (RT) downgraded to Market Perform from Outperform at Wells Fargo... Synovus (SNV) downgraded to Sell from Neutral at Goldman... TD Ameritrade (AMTD) downgraded to Underperform from Market Perform at Keefe Bruyette... Thoratec (THOR) downgraded to Neutral from Buy at Goldman... CF Industries (CF) downgraded to Hold from Buy at Miller Tabak... Children's Place (PLCE) downgraded at Susquehanna... CarMax (KMX) downgraded to Market Perform from Outperform at William Blair... SanDisk (SNDK) downgraded to Neutral from Buy at Nomura... Red Hat (RHT) downgraded at BMO Capital... Rex Energy (REXX) downgraded to Hold from Buy at Stifel... Range Resources (RRC) downgraded to Hold from Buy at Stifel... Kansas City Southern (KSU) downgraded to Sell from Hold at Stifel... Capella Education (CPLA) downgraded to Hold from Buy at Stifel.
09:40 EDTAAPLActive equity option families trading
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08:51 EDTBKSBarnes & Noble to add browser, email to low-cost e-readers, TechCrunch says
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08:40 EDTBKSBarnes & Noble could rise above $30 a share, Barron's says
Barnes & Noble (BKS) shares are up about 15% since TechCrunch said Microsoft (MSFT) may pay $1B for its Nook e-reader business but the stock may have another 50% upside to $30 per share based on Barnes & Noble's asset value, contended Barron's in a report this weekend. Barron's, however, called the situation "admittedly tough to assess" because neither Microsoft nor B&N will comment on the purchase rumor. The Fly notes Barnes & Noble shares are up 4% to $20.80 in pre-market trading. Reference Link
08:30 EDTJPMJPMorgan: Earnings drag for major emerging stock markets, Bloomberg reports
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07:29 EDTNVSDeutsche Bank to host a conference
dbAccess Asia Conference 2013 is being held in Singapore on May 20-22.
07:14 EDTJPMSeven of JPMorgan’s 10 biggest owners run by chairmen/CEOs, Bloomberg reports
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06:27 EDTAAPLApple MacBook orders to rise 20% sequentially in Q2, DigiTimes says
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06:23 EDTAAPLApple next-generation iPad trial production to begin soon, Digitimes says
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06:09 EDTJPMOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: The New York Department of Financial Services yesterday sent subpoenas to Apollo Global Management (APO), Guggenheim Partners and Harbinger Group (HRG) as part of an investigation seeking more information on investments that back so-called fixed annuities, sources say, the Wall Street Journal reports...As Home Depot (HD) and Lowe’s (LOW) report fiscal Q1 results this week, the reconstruction phase from last year's superstorm Sandy will be looming large as cooler-than-normal temperatures delay spring selling, the Wall Street Journal reports...REUTERS: Danone Group (DANOY) will invest $417M in two deals with China Mengniu Dairy Co., marking a comeback for the French group in China where scandals have hurt confidence in food safety, Reuters reports...The Nikkei share average surged to a new 5 1/2 year high today, boosted by further weakness in the yen and optimism over the growth outlook after the Japanese government raised its assessment of the economy for the first time in two months, Reuters reports...BLOOMBERG: The longest decline in Treasuries this year has left U.S. government debt the cheapest since March 2011 when measured by real yields and the best relative value compared with German bunds in more than two decades, Bloomberg reports...As JPMorgan Chase’s (JPM) Jamie Dimon prepares for a vote Tuesday on whether he should keep his chairman and CEO titles, he may take comfort knowing that seven of the bank’s 10 largest owners are run by CEOs who are also chairmen, Bloomberg reports.
05:38 EDTBLKBlackRock downgraded to Market Perform from Outperform at Keefe Bruyette
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May 19, 2013
16:41 EDTVIABViacom's 'Into Darkness' tops Disney's “Iron Man 3” at box office, WSJ says
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May 17, 2013
16:20 EDTNVSNovartis drug Afinitor extended time without disease progression in women
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16:00 EDTAAPLOptions Update; May 17, 2013
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12:13 EDTAAPLSamsung says S4 sales to reach 10M next week, Korea Times says
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12:01 EDTAAPLiPad mini panel shipments from AUO expected to drop this quarter, DigiTimes says
AU Optronics' (AUO) shipments of panels for Apple's (AAPL) iPad minis are expected to sink to 2.5M-2.8M in Q2 from 4M in the first quarter, Taiwan-based supply chain sources stated, according to DigiTimes. Reference Link
11:05 EDTAAPLApple devices approves for use on U.S. military networks, Bloomberg says
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09:57 EDTAAPLApple devices approved for use by Pentagon, Bloomberg reports
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09:37 EDTAAPLActive equity option families trading on open
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07:11 EDTAAPLApple to suggest tax reform for offshore cash, Bloomberg reports
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07:10 EDTJPMJPMorgan asks shareholders to reject chairman, CEO split, WSJ reports
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06:43 EDTAAPLApple disputing government's e-book allegations, NY Times says
Apple (AAPL) is aggressively combating the U.S. government's contention that it pushed Amazon.com (AMZN) and publishers to raise e-book prices,The New York Times reported yesterday, citing court papers filed this week. Amazon and publishing companies were already looking to use a different pricing model before Apple joined the e-book business in 2000, the newspaper quotes Apple as stating. A trial over the Justice Department's lawsuit against Apple regarding e-book pricing is slated to start June 3, the newspaper noted. Reference Link
06:12 EDTAAPLApple losing its edge as innovator, poll shows, Bloomberg reports
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06:06 EDTJPM, AAPLOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: A so-so Q1 earnings season hasn't dented investors' enthusiasm for stocks as prices have been rising, with the DJIA up 16% for the year and 4.2% since earnings season began April 8, the Wall Street Journal reports...JPMorgan Chase (JPM), in a last-ditch effort to beat back activist investors, sent a letter to shareholders who have yet to vote on the nonbinding proposal ahead of the May 21 annual meeting, urging them to reject a proposal to split the chairman and CEO roles held by James Dimon, the Wall Street Journal reports...REUTERS: Amazon.com (AMZN) will be called back to the British parliament to clarify how its activities in the U.K. justify its low corporate income tax bill, Reuters reports...J.C. Penney (JCP) CEO Ullman says that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer, Reuters reports...BLOOMBERG: Apple (AAPL), which holds $102B in cash and investments outside the U.S., will suggest changes to corporate-tax laws to encourage companies to bring more cash into the country, Bloomberg reports...Fiat’s (FIATY) deliberations over moving its headquarters to the U.S. after a merger with Chrysler Group LLC. raised concern among Italian unions and politicians about the plans of the country’s biggest manufacturer. CEO Marchionne is considering the move because Fiat’s main sources of revenue and profit are shifting to North America, Bloomberg reports.
May 16, 2013
14:01 EDTAAPLOptions Update; May 16, 2013
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13:53 EDTBLKBlackRock downgraded to Hold from Buy at Gabelli
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13:05 EDTAAPLSpending on Apple, Android video games jumped in Q1, AllThingsD says
In the first quarter spending on video games for Apple (AAPL) and Android devices increased significantly versus the previous quarter, while spending on video games for traditional handheld consoles fell meaningfully, research firms IDC and App Annie found, according to AllThingsD. Consumers spent three times more on games for smartphones and tablets than on games for traditional handheld consoles last quarter, the website stated. Reference Link
12:01 EDTJPMBill Daley assisting JPMorgan over vote, CNBC's Tausche reports
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10:20 EDTAAPLApple reverses sharply higher after breaking below $420
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10:03 EDTAAPLOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Amazon.com (AMZN) initiated with a Buy at Lazard Capital... Apple (AAPL) initiated with a Neutral at Susquehanna... Churchill Downs (CHDN) initiated with a Buy at Brean Capital... Interpublic Group (IPG) initiated with an Overweight at Evercore... Monarch Casino (MCRI) initiated with a Buy at Brean Capital... Stillwater Mining (SWC) coverage resumed with an Outperform at Wells Fargo... Wabtec (WAB) initiated with an Overweight at Atlantic Equities... eBay (EBAY) initiated with a Buy at Lazard Capital... Dangdang (DANG) initiated with a Buy at BofA/Merrill... Coeur d’Alene Mines (CDE) coverage resumed with a Neutral at JPMorgan... ValueClick (VCLK) initiated with an Underperform at Northland Securities... Yelp (YELP) initiated with an Outperform at Cowen.
09:44 EDTAAPLApple falls in early trading, levels to watch
The shares are down over 1.6% to $420.77. At that price, next support is at $419.85. Resistance is at $424.85. Among issues that could be contributing to the price decline are continued cutting of postions by hedge funds long the stock, a news item that Apple and its supplier Foxconn are violating work-hour laws in China, and a U.S. Senate inquiry into its treatment of taxes and non-patriated foreign profits.
09:36 EDTAAPLActive equity option families trading on open
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08:51 EDTJPMJPMorgan management to meet with UBS
Meeting to be held in New York on May 16 hosted by UBS.
08:36 EDTAAPLApple says over 50B apps downloaded from App Store
Apple announced that customers have downloaded over 50B apps from its App Store. Customers are downloading more than 800 apps per second at a rate of over two billion apps per month on the App Store, the company added.
08:11 EDTNVSNovartis says no intention of pursuing Actavis, Bloomberg reports
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07:40 EDTAAPLFoxconn and Apple exceeding work-hour laws in China, WSJ reports
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07:37 EDTMPCMorgan Stanley to host a conference
Refining Corporate Access Day is being held in New York on May 16.
07:35 EDTJPMJ.C. Penney May volatility elevated at 106 into Q1
J.C. Penney May call option implied volatility is at 106, June is at 57, July is at 50; compared to its 26-week average of 62 according to Track Data, suggesting larger near term price movement in the expected release of Q1 results after the market close today.
06:47 EDTAAPLApple initiated with a Neutral at Susquehanna
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06:41 EDTJPMBig banks to benefit from U.S. concession on derivatives, NY Times says
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06:12 EDTJPMJPMorgan's Dimon has long helped select new board members, Reuters reports
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May 15, 2013
19:37 EDTNVSNovartis weighing Actavis bid, WSJ reports
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18:17 EDTNVSNovartis weighs possible bid for Actavis, DJ reports
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17:18 EDTMPCBP Capital gives quarterly update on stakes
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17:09 EDTAAPLGreenlight gives quarterly update on stakes
NEW STAKES: Oil States International (OIS), Hess (HES), Spirit (SPR), IAC/InterActiveCorp (IACI), and Capital Bank (CBF). INCREASED STAKES: Apple (AAPL). DECREASED STAKES: Microsoft (MSFT), Seagate (STX), Delphi (DLPH), CBS (CBS), and Computer Sciences (CSC). LIQUIDATED STAKES: Ensco (ESV), Xerox (XRX), Yahoo (YHOO), NVR (NVR), and Google (GOOG).
17:03 EDTAAPL, JPMSoros gives quarterly update on stakes
NEW STAKES: MeadWestvaco (MWV), Brocade (BRCD), Red Hat (RHT), Liberty Global (LBTYK), and VMware (VMW). INCREASED STAKES: Google (GOOG), Liberty Global (LBTYA), EQT Corp (EQT), Charter (CHTR), and US Airways (LCC). DECREASED STAKES: Citigroup (C), AIG (AIG), Apple (AAPL), Invesco (IVZ), and Motorola Solutions (MSI). LIQUIDATED STAKES: JPMorgan (JPM), General Electric (GE), CF Industries (CF), Morgan Stanley (MS), and Capital One (COF).
16:55 EDTGDBerkshire Hathaway gives quarterly update on stakes
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16:02 EDTAAPLOptions Update; May 15, 2013
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15:55 EDTAAPLApple slide attributed to 13F filings, bearish '$240 per share' call, BI says
With Apple's stock down sharply over the last two days, analysts and media sources searching for a reason have pointed to 13F filings that show hedge funds have been trimming or liquidating their positions, as well as a publicized call from an Apple bear who said the stock is only worth $240 per share based on its Return On Invested Capital, said Business Insider. Reference Link
13:20 EDTAAPLApple's slide picks up momentum, levels to watch
The shares have been on a very steady downward track today, last at $426.45. That is a loss of over 3.9%. At current price, next support would be at $420.05. Resistance is at $428.43.
12:30 EDTJPMJPMorgan, Portugal in talks to resolve derivative contracts issue, Reuters says
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11:37 EDTAAPLMicrosoft replacing Xbox points with gift cards, currency, The Verge reports
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09:55 EDTAAPLApple slides further, levels to watch
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09:55 EDTAAPLTiger Management liquidates stake in Apple
Julian Robertson's Tiger Management disclosed today in its quarterly filing that it held no position in Apple. The hedge fund reported owning 42K shares of Apple as of December 31, 2012.
09:32 EDTAAPLInvenSense has multiple positive catalysts, says Pacific Crest
Pacific Crest thinks that InvenSense (INVN) remains extremely well positioned to penetrate Apple (AAPL) this year. The firm expects InvenSense to recover market share on Samsung's (SSNLF) Galaxy Note 3, and it recommends buying InvenSense shares.
09:25 EDTAAPLApple unlikely to launch low cost iPhone, says Pacific Crest
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08:56 EDTAAPLApple fingerprint sensor seems confirmed by PayPal exec, BGR says
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08:19 EDTAAPLSamsung shipped 6M Galaxy S4 devices through May 10, androidcentral says
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08:08 EDTAAPLPC sales decline in Western Europe, Economic Times reports
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06:53 EDTJPMJPMorgan holders look unlikely to strip Dimon of chairmanship, FT says
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06:42 EDTAAPLU.S. says Apple was "ringmaster" in e-book price fixing scheme, NY Times says
The Justice Department is alleging that Apple (AAPL) was "the ringmaster" in an e-book price fixing scheme, according to The New York Times, citing a lawsuit filed by the agency. One piece of evidence the agency is using to try to prove that charge is an e-mail from former Apple CEO Steve Jobs to News Corp's (NWSA) James Murdoch, in which Jobs allegedly suggested that the two companies set specific prices for e-books, the newspaper added. Reference Link U
06:34 EDTJPMJPMorgan CEO has obtained advice from Goldman counterpart, NY Times says
JPMorgan (JPM) CEO Jamie Dimon has spoken with his counterpart at Goldman Sachs (GS), Lloyd Blankfein, a number of times in recent months about the challenges that Dimon is facing, according to The New York Times, which cited unnamed sources. Reference Link J
06:15 EDTJPMJPMorgan reports April net credit losses 3.49% vs. 3.48% last month
Reports April delinquency rate 1.70% vs. 1.80% last month.
May 14, 2013
18:02 EDTJPMJPMorgan vote to split CEO and Chairman role just above 40%, WSJ reports
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16:00 EDTAAPLOptions Update; May 14, 2013
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15:16 EDTAAPLApple fades to session lows, down over 2%, levels to watch
The shares last hit $443.92 at time of writing. Next support below is at $439.29. Resistance is at $445.25, a prior pivot high.
13:59 EDTAAPLApple shares drop, down 2% to $445.84
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12:47 EDTBKSOptions with increasing implied volatility: FMCN FIO SVU BKS
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11:12 EDTAAPLBlackBerry plans to bring BBM to iOS, Android this summer
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11:01 EDTAAPLBlackBerry says bringing BBM platform to iOS, Android
Says BBM on Google's (GOOG) Android and Apple's (AAPL) iOS to start with messaging, other BBM features to follow. Comment from CEO Thorsten Heins speaking at BlackBerry Live event.
10:07 EDTAAPLGroupon introduces Breadcrumb point-of-sale app for iPad
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10:01 EDTVIABOn The Fly: Analyst Initiation Summary
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09:38 EDTAAPLActive equity option families trading on open
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08:37 EDTBKSBarnes & Noble launches enhanced NOOK apps for iPad, iPhone
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08:33 EDTJPMCFTC investigates swap contracts, FT reports
The Commodity Futures Trading Commission issued a “special call” asking Wall Street banks and other traders to provide documents that would prove recent derivatives transactions known as “exchanges of futures for swaps” were legal. Lawyers at the CFTC enforcement division are also scrutinizing the trades for possible violations. The probe is into the legitimacy of more than 1M energy and metals transactions by the biggest traders in commodities markets over the past two years.Reference Link
08:24 EDTJPMDavid Tepper says has 'small position' in JPMorgan
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08:18 EDTAAPLDavid Tepper says Citigroup position 'more than twice' Apple stake
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08:16 EDTAAPLDavid Tepper says Apple shares 'ok' at current levels
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08:15 EDTAAPLDavid Tepper says still owns Apple, cut stake 'a little bit'
David Tepper of Appaloosa Management is speaking on CNBC.
07:50 EDTAAPLApple to reach 50B app downloads before Wednesday, Fortune reports
Apple is expected to reach 50B app downloads in before midnight Tuesday, reports Fortune. With apps being downloaded at the rate of 580 per second today, things may accelerate considerably as the goal approaches. Reference Link
07:50 EDTAAPLSharp to seek increased sales to Samsung, Reuters reports
Sharp Corp. (SHCAY), a supplier to Apple (AAPL), will look to increase sales to rival Samsung Electronics (SSNLF) under a three-year rehabilitation roadmap to secure its survival, reports Reuters. The business plan is expected to be released today, and will lean further on banks that last year saved it from failure, as a $2B convertible bond will fall due in September, sources say. Reference Link
07:28 EDTJPMUBS to host a conference
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07:23 EDTMPCOppenheimer to host a summit
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06:27 EDTVIABViacom initiated with a Market Perform at BMO Capital
Target $71.
06:22 EDTAAPLGartner reports Q1 mobile phone sales growth
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05:58 EDTJPMJP Morgan volatility at low end of six-year range
JP Morgan May call option implied volatility is at 22, June is at 20, August and September at 19; compared to its 26-week average of 22 according to Track Data, suggesting non-directional price movement.
05:53 EDTAAPLWeb browsers are being reinvented, WSJ reports
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05:44 EDTJPMBanks work deals from both sides of the field, WSJ reports
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May 13, 2013
19:56 EDTBLKEx-BlackRock manager arrested in U.K. insider probe, Bloomberg says
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16:25 EDTBKSOn The Fly: Closing Wrap
Stocks on Wall Street were little changed from their opening levels as investors weighed the potential end of the Fed's quantitative easing program against a better than expected report on retail sales. The Wall Street Journal's Jon Hilsenrath suggested in a report over the weekend that the Federal Reserve has mapped a QE exit strategy. The report paired with the retail sales data left the market lacking conviction in either direction today, as the averages spent the majority of the session range-bound near the flatline. ECONOMIC EVENTS: In the U.S., retail sales rose 0.1% in April, which beat expectations for a 0.3% decline. Retail sales excluding autos, gas, and building materials rose 0.6%, which was also better than expected. Business inventories were flat in March, versus expectations for a 0.3% gain. In Asia, Chinese factory output grew 9.3% annually in April, which was up from 8.9% in March but still missed expectations for a 9.5% growth rate. COMPANY NEWS: The Supreme Court ruled unanimously that Monsanto's (MON) patented genetically altered soybeans are protected and that farmers cannot use them to create new seeds without paying the company... Dell's (DELL) special committee publicly asked for more information from Carl Icahn and Southeastern Asset Management about their proposed leveraged recapitalization. This request follows television interviews by Icahn last Friday in which he discussed his Dell proposal, as well as a weekend report in Barron's saying the Icahn and Southeastern plan could be a better deal for shareholders. MAJOR MOVERS: Among the notable gainers was Theravance (THRX), up $6.26, or 17.92%, to $41.20 after Elan Corporation (ELN) bought a stake in the potential future royalty payments from four respiratory programs partnered with GlaxoSmithKline (GSK) in exchange for $1B in cash. Also higher was Tesla (TSLA), which rose $11.04, or 14.38%, to $87.80 in its third straight double-digit percentage gain following a better-than-expected earnings report last week. Among the noteworthy losers was Barnes & Noble (BKS), down $2.21, or 9.48%, to $21.10 after the blog InsiderMonkey disputed a previous report about Microsoft's (MSFT) interest in the bookseller's NOOK assets. Also lower was JoS. A. Bank (JOSB), down $3.31, or 7.16%, to $42.90 after the company's first quarter earnings view came in below expectations. INDICES: The Dow was down 26.81, or 0.18%, to 15,091.68; the Nasdaq was up 2.21, or 0.06%, to 3,438.79; and the S&P 500 was nearly unchanged at 1,633.77.
15:45 EDTAAPLOptions Update; May 13, 2013
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15:04 EDTJPMFed says large banks must submit midyear stress tests on July 5
Eighteen large U.S. bank holding companies are required to submit the results of their company-run, midyear stress tests to the Federal Reserve on July 5, the Federal Reserve said. The Dodd-Frank Wall Street Reform and Consumer Protection Act required that large bank holding companies and non-bank financial institutions that are designated for Federal Reserve supervision by the Financial Stability Oversight Council conduct two stress tests each year. In the midyear test, which is being conducted for the first time in 2013, each firm develops its own baseline, adverse, and severely adverse scenarios to best reflect its individual operations and risks. Each firm in the midyear test is required to release the results produced under its severely adverse scenario, helping promote market discipline and understanding of the financial conditions and risks of individual firms, between September 15 and September 30, the Fed added.
14:32 EDTBKSBarnes & Noble volatility spikes on sharp pullback after blog report
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14:24 EDTBKSBarnes & Noble tumbles after blog pans potential Nook deal
Shares of Barnes & Noble (BKS) are sinking after website Insider Monkey stated that Microsoft (MSFT) doesn't plan to buy the book retailer's NOOK Media unit in the near future. Last Thursday another website, TechCrunch, reported that Microsoft was considering acquiring NOOK Media, which includes NOOK devices and other digital businesses, for $1B. WHAT'S NEW: "Nothing imminent is happening" between Microsoft and NOOK, Insider Monkey quoted a "highly placed source" at Microsoft as saying. TechCrunch's story was "only a rumor," the unnamed source added, according to Insider Monkey. WHAT'S NOTABLE: Microsoft has already invested $300M in NOOK Media in exchange for a stake of about 17% in the unit. The New York Times last week quoted a source as saying that the TechCrunch story was based on valid documents, but that they appeared to be at least several weeks old. The book retailer's stock surged over 20% on Thursday after TechCrunch published its story. TODAY'S PRICE ACTION: In mid-afternoon trading, Barnes & noble fell $2.90, or 12.40%, to $20.40.
13:38 EDTBKSMicrosoft, Barnes & Noble NOOK deal unlikely, InsiderMonkey says
A report by InsiderMonkey, citing a "highly placed source inside Microsoft (MSFT)," says reports last week that Microsoft may look to acquire buy Barnes & Noble's (BKS) NOOK Media assets were only a rumor, with the source adding that "[Microsoft] has no intention of acquiring the NOOK unit." Shares of Barnes & Noble, which had been flat for the session, are now sharply lower, down $2.86, or 12.17%, to $20.45. Reference Link
13:37 EDTBKSBarnes & Noble falls 11% to $20.80
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11:29 EDTGDPentagon contracts tumbled in April, Washington Post says
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11:12 EDTBKSOptions with increasing implied volatility: BKS FIO SOHU AGNC HNZ
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10:38 EDTGDOshkosh vehicle design rejected by Pentagon, Defense News says
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10:24 EDTAAPLFollow-up: Wedge Partners believes InvenSense shipping units to Apple
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09:39 EDTAAPLActive equity option families trading
Active equity option families trading on open according to Track Data: AAPL C TSLA LVS GILD FSLR
07:58 EDTAAPLBarclays' technology research team holds analyst/industry conference call
Analyst Research Team discusses the supply chain and major trends on an Analyst/Industry conference call to be held on May 13 at 10 am.
07:41 EDTJPMDimon role may be decided by board director Raymond's view, NY Times reports
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07:07 EDTJPMJPMorgan shares offer good value, says Bernstein
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06:22 EDTJPMJPMorgan's Dimon has considered leaving the bank, WSJ reports
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May 12, 2013
18:49 EDTAAPLABC app to let users live stream local programming, NYT says
ABC, a unit of the Walt Disney Company (DIS), will unveil the "live" function for its app for iPhones (AAPL) and iPads, allowing users around New York and Philadelphia to live stream all the programming from ABC’s local stations there, says the New York Times. Reference Link
May 11, 2013
14:26 EDTAAPLPentagon expects to give clearance for Apple mobile devices, Bloomberg says
The U.S. Defense Department plans to give clearance for Apple mobile devices for use on its networks early next week, says Bloomberg, citing a Pentagon spokeswoman. Reference Link
May 10, 2013
16:01 EDTAAPLOptions Update; May 10, 2013
CBOE Volatility Index VIX down 56c to 12.57. Option volume leaders: BIDU AAPL TSLA GOOG C MBI MGM according to Track Data.
14:21 EDTJPMJPMorgan directors recommend against splitting Chairman, CEO roles
Two of JPMorgan's directors, Lee Raymond and William Weldon, sent a letter to shareholders of the bank urging for re-election of all its existing directors and supporting Jamie Dimon continuing as both Chairman and CEO. The directors, who identified themselves as the Presiding Director and the Chairman of the Corporate Governance & Nominating Committee, stated: "We believe that a vote against our current Directors or a vote to permanently separate the Chairman and CEO positions could be disruptive to the Company and is not in shareholders’ best interests," according to a copy of the letter posted online by Financial Times. Reference Link
12:32 EDTBKSOptions with increasing implied volatility: SNTA BKS FIO QIHU VMED
09:38 EDTAAPLActive equity option families trading
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08:03 EDTAAPLLenovo to sell smartphones in Africa, beginning with Nigeria, Bloomberg reports
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07:07 EDTAAPLApple margin decline concerns overblown, says Piper Jaffray
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05:57 EDTBKSStocks with implied volatility movement; BKS SPWR
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05:42 EDTNVSNovartis drug Ilaris approved by FDA
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May 9, 2013
17:12 EDTJPMJPMorgan sued by California for "fraudulent, unlawful debt-collection practices"
Attorney General Kamala D. Harris filed an enforcement action against JPMorgan Chase alleging that the bank engaged in fraudulent and unlawful debt-collection practices against tens of thousands of Californians. The suit alleges that Chase engaged in widespread, illegal robo-signing, among other unlawful practices, to commit debt-collection abuses against approximately 100,000 California credit card borrowers over at least a three-year period. Chase used California’s judicial system as a mill to obtain default judgments, the suit alleges, using illegal tactics to flood the state’s court system in order to secure default judgments and garnish wages from Californians. Reference Link
16:47 EDTBKSOn The Fly: Closing Wrap
Stocks on Wall Street were lower, breaking the recent streak of the Dow and S&P 500 setting new closing highs. The averages moved higher during the afternoon, as the dollar topped the Y100 level for the first time in three years, though the averages fell again and failed to regain positive territory into the close. ECONOMIC EVENTS: In the U.S., jobless claims fell 4K from the prior week to 323K, which was below the consensus 335K claim forecast. Wholesale inventories rose 0.4% in March, which matched expectations. In Asia, Chinese consumer prices increased 2.4% in April, which was just above expectations, and producer prices fell 2.6%, which was more than expected. Also, the Bank of Korea unexpectedly cut its interest rate. COMPANY NEWS: Two heavily shorted stocks, Tesla (TSLA) and Green Mountain Coffee Roasters (GMCR), surged after reporting quarterly earnings after yesterday's close. Tesla added $13.61, or 24.4%, to $xx 69.40 after its top and bottom line results beat Street estimates and it raised its full-year vehicle delivery outlook to 21,000 from 20,000 vehicles. Green Mountain shares gained $16.56, or 27.84%, to $76.04 after the company's earning came in better than expected and it announced a long-term strategic partnership with Starbucks. MAJOR MOVERS: Among the notable gainers was Barnes & Noble (BKS), up $4.31, or 24.25%, to $22.08 after a report saying Microsoft (MSFT) is considering acquiring the digital assets of Nook Media. Also higher was News Corp. (NWSA), up $1.43, or 4.49%, to $33.29 after its third quarter earnings were in-line and its revenues topped consensus estimates. Among the noteworthy losers Rackspace (RAX), down $12.88, or 24.66%, to $39.36 after its second quarter revenue missed Street estimates and its stock received downgrades from at least four analyst firms. Also lower following its quarterly report was Monster Beverage (MNST), which fell $2.96, or 5.2%, to $54.01. INDICES: The Dow was down 22.50, or 0.15%, to 15,082.62; the Nasdaq was down 4.10, or 0.12%, to 3,409.17; and the S&P 500 was down 6.02, or 0.37%, to 1,626.67.
15:25 EDTAAPLRoyalty talks for Apple's iRadio hit snag, FT reports
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14:55 EDTWDCFTC approves modified final order on Western Digital purchase
The Federal Trade Commission approved and issued a modified final decision and order settling charges that Western Digital’s (WDC) proposed acquisition of rival Hitachi Global Technologies would have been anticompetitive in the market for hard disk drives used in desktop PCs. The proposed order settling the FTC’s charges, first announced on March 5, 2012, required Western Digital to sell assets used to manufacture and sell desktop computer hard disk drives to Toshiba (TOSBF) to resolve the agency’s competition concerns. The FTC has approved several modifications to the proposed order to incorporate adjustments that Western Digital and Toshiba Corporation, the buyer of the divested assets, made in the transaction documents. The final order provides for the additional time Western Digital required to complete the divestiture in order to obtain the necessary approvals from other relevant competition authorities and also includes revised production and asset transfer schedules, and extended time in which Western Digital will have access to certain employees. The FTC has also approved changes to the Divestiture Agreement and Contract Manufacturing Agreement to reflect the changes to the remedial agreements made by Western Digital and Toshiba Corporation.
12:53 EDTAAPLGundlach says would own Apple vs. short over next six months
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12:52 EDTAAPLGundlach says 'not positive or negative' on Apple shares
DoubleLine CEO Jeff Gundlach is speaking on CNBC.
12:51 EDTAAPLGundlach says Apple shares 'not expensive at all'
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12:51 EDTAAPLGundlach says Apple short covered, 'easy money' has been made
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12:35 EDTBKSOn The Fly: Midday Wrap
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12:00 EDTBKSBarnes & Noble rises 16.2%
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11:34 EDTBKSOptions with increasing implied volatility: BKS MMR LIFE GDI
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11:15 EDTBKSHigh option volume stocks: BKS ISIS BRY GMCR JOE
10:46 EDTBKSBarnes & Noble founder deal put on hold, dealReporter says
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10:10 EDTBKSBarnes & Noble spikes on possible Microsoft Nook Media bid
The stock is up over 17.9% to $20.95 after a report that Microsoft (MSFT) may buy Nook Media assets in a deal estimated to be worth $1 billion. At current price, next resistance is at $21.03. There is then no resistance until the life high at $25.79. Support is at $20.38.
10:08 EDTBLKOn The Fly: Analyst Downgrade Summary
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10:00 EDTBKSBarnes & Noble rises 18.4%
Barnes & Noble is up 18.4%, or $3.27, to $21.04
09:38 EDTAAPLActive equity option families trading
Active equity option families trading on open according to Track Data: TSLA AAPL GOOG MNST BIDU MCD.
09:20 EDTWDCWestern Digital volatility low into Chanos cautious mention
Western Digital overall option implied volatility of 32is below its 26-week average of 35 according to Track Data suggesting decreasing price movement into Jim Chanos cautiously mentioned the shares in a presentation.
09:19 EDTWDC, BKSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tesla (TSLA), up 23.7%... Green Mountain (GMCR), up 14.5%... Groupon (GRPN), up 14.1%... Walter Investment (WAC), up 6.1%... News Corp. (NWSA), up 3.9%... ALSO HIGHER: Barnes & Noble (BKS), up 29.4% after TechCrunch says Microsoft (MSFT) may buy Nook Media assets for $1B... Oil States (OIS), up 4.2% after David Einhorn recommends shares at investor conference... MGM Resorts (MGM), up 1.2% following upgrade to Buy at Sterne Agee. DOWN AFTER EARNINGS: Rackspace (RAX), down 21.6%... Monster Beverage (MNST), down 9.8%... McDermott (MDR), down 8.3%... Activision Blizzard (ATVI), down 7.1%. ALSO LOWER: Seagate (STX), down 3.4%, and Western Digital (WDC), down 2.2% after negative mention of both by Jim Chanos at Sohn conference.
09:00 EDTBKSBarnes & Noble rises 29.2%
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08:09 EDTJPMJPMorgan, Bank of America had perfect trading records in Q1, Bloomberg reports
JPMorgan Chase (JPM) and Bank of America (BAC) had perfect trading records in the first quarter, making money every day of the period as Morgan Stanley (MS) posted losses in eight sessions and Goldman Sachs (GS) in two, reports Bloomberg. One daily gain at JPMorgan was over $200M as the bank recovered from last year’s London Whale derivatives loss, the company said in a regulatory filing. Reference Link
08:06 EDTBKSBarnes & Noble jumps 24% after report says Microsoft may be Nook digital assets
Shares are up 25%, or $4.23, to $22.00 in pre-market trading.
07:57 EDTBLKRio Tinto CEO defends iron ore expansion criticized by holders, FT says
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07:37 EDTBKSBarnes & Noble volatility flat into Microsoft may acquire Nook Media assets
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07:35 EDTJPMPlatts to host a conference
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07:12 EDTAAPLApple parts assembler increases China workforce 40%, Bloomberg reports
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06:40 EDTJPMCalpers to support separation of chairman, CEO roles at JPMorgan, NY Times says
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06:40 EDTBKSMicrosoft may acquire Nook Media assets for $1B, TechCrunch reports
Microsoft (MSFT) is considering to acquire the digital assets of Nook Media for $1B, reports TechCrunch. Microsoft would redeem preferred units of Nook Media, a joint venture with Barnes & Noble (BKS) and other investors. Nook Media may also plan to discontinue its Android-based tablet business by end of FY14. Reference Link
06:10 EDTAAPLOn the Fly: Periodicals Wrap-Up
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05:50 EDTAAPLSamsung using its own parts to cut costs, WSJ reports
Samsung Electronics's (SSNLF) newsest smartphone, the Galaxy S 4, takes advantage of its chip- and display-manufacturing prowess to get its material costs closer to Apple's (AAPL) costs for the iPhone 5, reports the Wall Street Journal. Reference Link
05:44 EDTBLKBlackRock downgraded to Neutral from Buy at Citigroup
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05:43 EDTJPMBig banks take the offense against Washington, WSJ reports
The biggest U.S. banks are going on the offensive to fight off growing efforts in Washington to rein them in, reports the Wall Street Journal. They've hired longtime, influential Washington insiders to deflect regulatory and political pressure to strengthen their finances and to sell assets. Reference Link
05:39 EDTJPMJPMorgan looks for more board directors for its risk committee, WSJ reports
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