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Stock Market & Financial Investment News

News Breaks
February 10, 2014
12:33 EDTBEBE, L, BWP, MDCO, MCHP, AMAP, MCD, CYOU, SUPX, DKS, AAPLOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq leading and the Dow lagging. The stock market had one of its best days of the year last Thursday and followed that advance with another strong session Friday despite the disappointing monthly jobs report. With little on today's domestic economic calendar, investors may be content to wait on the sidelines in advance of testimony due tomorrow from the new head of the Federal Reserve, Janet Yellen. ECONOMIC EVENTS: In the U.S., no major economic data was released. COMPANY NEWS: Activist investor Carl Icahn announced in a letter published on his "Shareholders Square Table" website that he was dropping his proposal that would have asked Apple (AAPL) to buy back $50B of stock this year. Ichan cited Apple recently being more aggressive in repurchasing shares, as well as advisory firm ISS recommending against his proposal, as reasons to give up on the pursuit... Shares of McDonald's (MCD) slid nearly 1% after reporting that its U.S. comparable sales decreased 3.3% amid challenges including severe winter weather. However, the company reported that its global comparable sales rose 1.2% in the month, powered by strength in China, Japan and Europe... Boardwalk Pipeline Partners (BWP), a midstream master limited partnership and subsidiary of Loews Corporation (L), plunged 39% after the partnership slashed its quarterly distribution to 10c per share from over 53c per share previously. Boardwalk said the reduction will free up cash to help fund growth and reduce leverage in order to strengthen the balance sheet during the "difficult market conditions" it is facing. Shares of parent Loews were also down about 4.5% near midday after its own earnings report... Shares of Dick's Sporting (DKS) climbed about 3% after the sporting goods retailer pre-announced stronger than expected results this morning. MAJOR MOVERS: Among the notable gainers was AutoNavi (AMAP), which rose almost 25% after Alibaba Group offered to acquire all of the shares of AutoNavi not already beneficially owned by Alibaba for $21 in cash per New York listed share. Women's apparel retailer bebe stores (BEBE) also advanced nearly 7% after Reuters said the company has hired Guggenheim Securities to help it explore a potential sale. Also higher was Supertex (SUPX), which jumped 35% after agreeing to be acquired by Microchip Technology (MCHP) for $33 per share in cash, while buyer Microchip gained about 1% following the announcement. Among the noteworthy losers was Chinese online game developer Changyou.com (CYOU), which fell 13% after reporting on its quarterly results, announcing the resignation of its Cheif Financial Officer, and having its stock downgraded to Underweight at Morgan Stanley. Also lower were shares of The Medicines Company (MDCO) which tumbled over 6% after a team leader for the FDA recommended against approving the company's Cangrelor drug, which is intended for use in patients undergoing percutaneous coronary intervention. INDEXES: Near midday, the Dow was down 25.84, or 0.16%, to 15,768.24, the Nasdaq was up 12.21, or 0.3%, to 4,138.07, and the S&P 500 was down 1.84, or 0.1%, to 1,795.18.
News For AAPL;MCD;BWP;DKS;AMAP;L;SUPX;MCHP;BEBE;CYOU;MDCO From The Last 14 Days
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February 2, 2016
10:01 EDTMCHPHigh option volume stocks: DF ROK MCHP SFLY PBI IDTI IILG
09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open: FB AAPL BAC GOOGL NFLX GOOG XOM TWTR LVS
08:55 EDTAAPLApple may unveil new 4-inch iPhone, next iPad Air, on March 15, 9to5Mac says
Apple is currently targeting March 15 as the date for an event where it will unveil its new 4-inch iPhone 5se, the iPad Air 3, and new Apple Watch band options, said 9to5Mac, citing sources. The date could "conceivably still shift or turn into an online announcement," the report noted. Reference Link
06:58 EDTAAPLiPad Air 3 may include quad speakers, LED flash, engadget reports
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06:48 EDTAAPLTablet market continued to decline in Q4, VentureBeat says
The tablet market continues to see a decline, with 4Q15 representing the fifth straight quarter to see a year-over-year decrease in shipments, VentureBeat reports, citing market research firm IDC. 65.9M tablet units shipped in Q4, a decline of 13.7% from 76.4M units in the same period last year, the report says. Shipments for FY15 were down 10.1% year over year to 206.8M, the report says. In Q4, top five vendors Apple (AAPL), Samsung (SSNLF), Amazon (AMZN), Lenovo (LNVGY), and Huawei accounted for 54.2% of the market, up from 51% last year, though only Amazon and Huawei grew their own market share year over year, the report says. Reference Link
05:30 EDTMCDMcDonald's implied volatility of 17 at lower end of index mean range
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February 1, 2016
19:15 EDTAAPLAlphabet overtakes Apple as most valuable public company
Shares of Alphabet (GOOG, GOOGL) surged after the company reported fourth quarter results Monday, with after-hours stock prices signaling it has overtaken Apple (AAPL) as the world's most valuable publicly traded company. WHAT'S NEW: Alphabet reported Q4 EPS of $8.67, above analyst expectations of $8.10, and Q4 revenue of $21.33B, above consensus estimates of $20.77B. WHAT'S NOTABLE: Alphabet reported that Google's aggregate paid clicks were up 31% in Q4, while paid clicks on Google Network Members' websites were up 2%, aggregate cost-per-click was down 13%, cost-per-click on Google websites was down 16%, and cost-per-click on Google Network Members' websites was down 8%. PRICE ACTION: Alphabet's Class A shares under ticker symbol GOOGL are up 4.65% to $806.61 while its ordinary shares under symbol GOOG are up 5.25% to $791.50 in after-hours trading. Shares of Apple, meanwhile, are down fractionally to $96.18. According to CNBC, those after-hours levels, though not yet indicating real world value, represent a market capitalization of roughly $570B for Alphabet, surpassing Apple's market cap of $535B.
16:59 EDTAAPLGoogle plans more control over Nexus phone in bid for high-end, Information says
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16:01 EDTAAPLOptions Update; February 1, 2016
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10:52 EDTAAPLActive puts; AAPL SPY TWTR MU UVXY
Active puts @ CBOE: SPY 2/19/16 192, TWTR 2/12/16 15, UVXY 3/18/16 33, AAPL 2/19/16 91, MU 2/5/16 9.50
09:44 EDTAAPLForbes contributor suggests Apple should buy Netflix
Forbes contributor Jay Somaney noted that Apple (AAPL) has recently been reported to be talking to TV producers and Hollywood studios about investing and developing original TV shows and he contends that "one way to circumvent the tedious and lengthy negotiations process with Hollywood and the networks" is for Apple to offer to buy out Netflix (NFLX). Reference Link
09:36 EDTAAPL, MCDActive equity options trading on open
Active equity options trading on open: BAC AAPL FB AMZN TWTR MGM MCD NFLX GILD INTC TSLA AA BABA C
08:51 EDTMDCOThe Medicines Co. completes divestiture of hemostasis portfolio to Mallinckrodt
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07:24 EDTAAPL, MCDEU's Vestager dismisses U.S. criticism of tax cases, Reuters says
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06:53 EDTAAPLApple's iPad Air 3 may come with SMart Connector support, 9to5Mac reports
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05:18 EDTCYOUChangyou.com sees Q1 EPS 56c-65c, consensus 73c
Sees Q1 revenue $120M-$130M, consensus $157.30M.
05:17 EDTCYOUChangyou.com reports Q4 EPS 85c, consensus 66c
Reports Q4 revenue $168M, consensus $154.79M.
January 31, 2016
19:04 EDTAAPLApple acquires Flyby, assembles 'secret' virtual reality team, FT says
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14:12 EDTAAPLApple should avoid 'dubious' M&A, focus on cloud, AI development, Barron's says
"Impatient" investors encouraging Apple (AAPL) to become a mere dividend payer or make "dubious" acquisitions are not making much sense, Barron's contends in its 'Technology Trader' column. Apple continues to innovate and its iPhone franchise "will endure," though the one area where Apple lags behind peers and "can and should" make progress is cloud computing, according to the publication. Alphabet (GOOG), Facebook (FB) and Microsoft (MSFT) are making large strides in cloud and artificial intelligence, but the company still has "plenty of opportunity" to catch up given its product install base, Barron's says. Reference Link
11:39 EDTAAPL, MCDS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
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