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January 24, 2013
12:30 EDTAAPL, MKC, DBD, ERJ, SWFT, TZOO, RTN, LMT, ALTR, BMY, SNDK, WDC, NFLX, LOGIOn The Fly: Midday Wrap
Wall Street's averages managed to withstand a disappointment from the biggest name in technology, Apple (AAPL), on the strength of some other encouraging earnings reports and PMI data from around the globe. The averages began the session mixed, with the Dow and S&P slightly higher and the Nasdaq deep in negative territory. As the morning progressed, the Dow and S&P added to their gains and the Nasdaq moved off its opening lows but was unable to cross over into positive territory... ECONOMIC EVENTS: In the U.S., weekly jobless claims fell last week to the lowest level in five years. Weekly unemployment applications dropped 5K to a seasonally adjusted 330K, which was below expectations for 360K. Markit's Flash U.S. Purchasing Managersí Index jumped to 56.1 in January from the 54.0 final print for December. The leading indicators increased 0.5% to 93.9 in December, versus an expected increase of 0.4%. In Europe, the composite euro zone Purchasing Managersí Index rose to 48.2 in January from 47.2 in December, beating expectations. In China, HSBC's flash PMI rose to 51.9 in January, slightly beating expectations for a 51.7 reading... COMPANY NEWS: The world's most valuable company, Apple, saw a fair amount of its market cap evaporate after the company's quarterly report disappointed investors. Despite earnings that beat consensus, Apple's revenue and iPhone sales fell short of expectations and the company said on its conference call that it is changing its approach to guidance, admitting it had been intentionally conservative in the past. Both Jefferies and Scotia Capital downgraded the shares, which declined 10.5% in midday trading... Netflix (NFLX) was upgraded by at least five firms after its earnings, subscriber additions and guidance all impressed. Shares were up nearly 38% near noon following its report... Among other large cap companies reporting results, Western Digital (WDC), SanDisk (SNDK) and Bristol-Myers (BMY) advanced, while Altera (ALTR), Lockheed Martin (LMT) and Raytheon (RTN) declined... MAJOR MOVERS: Among the notable gainers were Travelzoo (TZOO), up 25%, and Swift Transportation (SWFT), also up 25% after both beat earnings expectations. Also higher were shares of Embraer (ERJ), which rose almost 10% after Republic Airways (RJET) agreed to purchase 47 new aircraft from the company. Among the noteworthy losers were Diebold (DBD), down about 9%, McCormick (MKC), down 8%, and Logitech (LOGI), down 8% after their quarterly reports... INDICES: Near noon, the Dow was up 78.22, or 0.57%, to 13,857.55; the Nasdaq was down 8.66, or 0.27%, to 3,145.01; and the S&P 500 was up 3.90, or 0.26%, to 1,498.71.
News For AAPL;NFLX;WDC;SNDK;BMY;ALTR;LMT;RTN;TZOO;SWFT;ERJ;DBD;MKC;LOGI From The Last 14 Days
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October 16, 2014
09:39 EDTAAPL, NFLXActive equity options trading on open
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09:26 EDTNFLXNetflix long-term growth intact, says BTIG
BTIG would not sell Netfix and said issues are short-term and that long-term growth is intact. The analyst said content quality is ramping and the company has an underappreciated technology lead of incumbent media peers and is able to produce content an a far more efficient, global scale, increasing its international expansion opportunities. Shares are Buy rated
09:23 EDTNFLXOn The Fly: Pre-market Movers
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09:21 EDTNFLXNetflix core competitive advantages appear intact, says Pacific Crest
After Netflix reported Q3 results that Pacific Crest views as weak, the firm thinks the company's core competitive advantages appear to be intact. The firm believes that the company has much growth and profit potential remaining. It cut its price target on the name to $490 from $530 but keeps an Outperform rating on the shares.
08:42 EDTBMYBristol-Myers upgraded at BMO Capital
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08:06 EDTAAPLAlmunia says political pressure around Google case 'unprecented,' WSJ reports
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08:03 EDTTZOOTravelzoo reports Q3 EPS 2c ex-items, consensus 13c
Reports Q3 revenue $33.5M, consensus $35.18M. EPS excludes a $2.3M release of reserve for Travelzoo Inc.'s anticipated settlement agreements in connection with a dispute over unclaimed property audits.
08:02 EDTRTNRaytheon awarded $49.5M missile contract by U.S. Navy
Raytheon has been awarded a $49.5M contract by the U.S. Navy for production of new laser-guided Maverick missiles. The Navy also intends to exercise a contract option to purchase additional units bringing the total contract value to $54.9M.
07:58 EDTNFLXNetflix weakness a buying opportunity, says RW Baird
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07:48 EDTAAPLSony must decide quickly what to do with smartphone strategy, Nikkei says
Sony's (SNE) "One Sony" strategy is built around providing contents to consumers and smartphones are one of three pillars it sees for growth, but the strategy is "on the brink of collapse" as the company falls behind Apple (AAPL) and Chinese rivals, according to the Nikkei Asian Review. Sony officials are debating whether smartphone operations in Asia should be downsized and whether cutting 1,000 jobs, or 15% of its mobile communications workforce, would be warranted, according to the report. Reference Link
07:23 EDTNFLXFutures suggest market plunge
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07:19 EDTNFLXNetflix new content can 'reinvigorate' growth, says JPMorgan
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07:16 EDTNFLXNetflix shares should be bought on weakness, says RBC Capital
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07:04 EDTNFLXNetflix price target lowered to $415 from $500 at Cantor
Cantor cut its price target on Netflix after the company reported lower than expected Q3 subscriber growth and provided lower than expected Q4 subscriber guidance. However, the firm keeps a Buy rating on the shares, citing the ongoing shift to Internet TV and Netflix's strong position in that segment.
06:39 EDTNFLXNetflix October volatility elevated into disappointing Q3
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06:26 EDTNFLXNetflix price target lowered to $364 from $453 at Citigroup
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06:20 EDTNFLXNetflix downgraded to Fair Value from Buy at CRT Capital
CRT Capital downgraded Netflix to Fair Value and reduced its price target to $375 from $510 following disappointing Q3 results. The analyst said Netflix invests heavily in content and expansion, faces increasing competition, and lack s enough near-term catalysts to move shares.
06:16 EDTBMYBristol-Myers upgraded to Outperform from Market Perform at BMO Capital
06:00 EDTNFLXNetflix upgraded to Hold from Underperform at Jefferies
Jefferies upgraded Netflix to Hold with a $300 price target citing a more favorable risk/reward following the post-earnings sell-off.
05:52 EDTNFLXNetflix price target lowered to $345 from $434 at Piper Jaffray
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