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Stock Market & Financial Investment News

News Breaks
January 24, 2013
12:30 EDTLOGI, ERJ, RTN, BMY, NFLX, MKC, SWFT, LMT, SNDK, AAPL, DBD, TZOO, ALTR, WDCOn 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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January 25, 2016
13:07 EDTLMTLockheed Martin volatility flat into Q4 and outlook
Lockheed Martin February call option implied volatility is at 23, March is at 22; compared to its 52-week range of 14 to 33, suggesting non-directional price movement into the expected release of Q4 results on January 26.
12:59 EDTAAPLApple executives unsatisfied with progress of 'Project Titan,' AppleInsider says
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11:24 EDTSWFTOptions with increasing volume
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10:56 EDTSWFTSwift Transport February volume and volatility increases into Q4 and outlook
Swift Transport February 13 and 14 calls are active on total call volume of 8,800 contracts (140 puts) suggesting traders taking positions for upside price movement suggesting large near term price movement into the expected release of Q4 results on January 26. February call option implied volatility is at 71, March is at 63; compared to its 52-week range of 25 to 69.
10:27 EDTSNDKOptions with increasing implied volatility: CLDX INSY SNDK
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10:22 EDTNFLXOptions with decreasing implied volatility
Options with decreasing implied volatility: SRPT SPWR NFLX CREE FFIV ISRG TIF MXIM QIHU IBM
10:16 EDTSWFTHigh option volume stocks
High option volume stocks: IRM SWFT STLD AAN PKG NVRO PZZA SYY EDAP SSYS
10:03 EDTAAPLApple's iPhone 5se to likely come with faster A9/M9 chips, 9to5Mac reports
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10:00 EDTSNDK, BMYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
09:32 EDTDBDDiebold upgraded to Buy from Neutral at Northcoast
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09:32 EDTNFLX, AAPLApple Active equity options trading on open
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08:27 EDTBMYBristol-Myers downgraded at BMO Capital
As noted earlier, BMO Capital downgraded Bristol-Myers to Market Perform from Outperform. The firm says that its positive thesis on clinical catalysts for the company's Opdivo drug has "mostly materialized." Target to $70 from $74.
08:11 EDTWDCWestern Digital acquires over a hundred patents from IBM
Western Digital (WDC) announced that it has acquired more than 100 patent assets from IBM (IBM). The parties also entered into a patent cross-license agreement. Terms of the transaction were not disclosed. Patents acquired by Western Digital are in distributed storage, object storage, and emerging non-volatile memory. Western Digital expects the IP to further strengthen its technology leadership position and drive value creation for the company and its customers. The patents will augment Western Digital's existing portfolio of more than 10,000 patents and patent applications.
08:04 EDTBMYAgilent's Dako announces FDA expanded approval of Dako PD-L1 IHC 28-8 pharmDx
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07:37 EDTSNDK, SNDKSanDisk downgraded to Underperform from Outperform at CLSA
CLSA analyst Mark Heller downgraded SanDisk (SNDK) to Underperform due to weakening NAND fundamentals and higher deal risk. The analyst does not believe Western Digical (WD) can walk away from the deal due to weakening fundamentals, but is more cautious on Unisplenour's investment in Western Digital and the share pullback. Heller said Western Digital's shareholders would decide on SandDisk if Unisplendour were to step away. Heller lowered his price target to $70 from $86 on SanDisk shares.
07:10 EDTSNDK, WDCWestern Digital pricing in 'extreme bear case,' says Jefferies
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07:06 EDTAAPLApple volatility elevated into Q1 and outlook
Apple 1/29/16 call option implied volatility is at 57, February is at 38; compared to its 52-week range of 18 to 55, suggesting large near term price movement into the expected release of Q1 results on January 26.
06:44 EDTAAPLApple to release new iPhone, iPad Air 3 in 1H16, AppleInsider says
Apple is planning to launch a 4-inch iPhone as well as the iPad Air 3 in the first half of the year, AppleInsider reports, citing KGI analyst Ming-Chi Kuo. Reference Link
06:05 EDTBMYBristol-Myers downgraded to Market Perform from Outperform at BMO Capital
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05:51 EDTAAPLOptions expected to be active: TYC JCI TWTR SUNE AAPL PG HAL AMZN FB
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