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Stock Market & Financial Investment News

News Breaks
May 29, 2014
12:43 EDTAAPL, P, KORS, HSH, TSN, PPC, TLYS, PANW, JNPROn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite a significant downward revision to the government's estimate of economic growth in the first three months of the year. The market opened slightly higher and has seen little in the way of volatility, mirroring the pattern seen throughout the week. Volume remains light and the market remains locked in a very narrow range, albeit near all-time highs. ECONOMIC EVENTS: In the U.S., the Commerce Department estimated that gross domestic product decreased at a 1% annual rate in the first quarter of the year, which is down significantly from the government's first estimate of positive 0.1% growth for the period and below the consensus expectation for a revision to a 0.5% decline. Initial jobless claims dipped 27K to 300K in the week ended May 24 from a revised 327K previously. An index of pending home sales edged up 0.4% to 97.8 in April, which was less than the expected 1% rise. COMPANY NEWS: Last night, Apple (AAPL) confirmed that it has agreed to buy Beats Music, which operates a streaming music service, and Beats Electronics, which makes and sells electronic music products such as headphones and speakers, for $3B. Financial Times first reported on May 8, citing people familiar with the negotiations, that Apple was in talks to acquire Beats. In a note to investors after the confirmation, JPMorgan analyst Rod Hall wrote that the deal "is really about what Apple can do with Beats Music" to revitalize its own iTunes music business. Meanwhile, PiperJaffray analyst Gene Munster wrote that Apple acquired Beats for several reasons, including the opportunity to bring Beats co-founders Jimmy Iovine and Dr. Dre to Apple to work on content. Near noon, Apple rose nearly 1% to trade near $630 per share, while Pandora, which also offers a streaming music service, was fractionally lower. MAJOR MOVERS: Among the notable gainers was Hillshire Brands (HSH), which jumped about 17% to trade near $52 per share after the company received an unsolicited takeover offer of $50 per share in cash from Tyson Foods (TSN) that trumped the $45 per share bid announced just two days ago from Pilgrim's Pride (PPC). Also higher was Palo Alto Networks (PANW), which rose 8.5% after the company reported stronger than expected third quarter results and agreed to pay Juniper (JNPR) $175M in cash, stock and warrants as part of a settlement of their patent litigation. Among the noteworthy losers was apparel, footwear and accessory retailer Tilly's (TLYS), which dropped 16% after the company reported a decline in its first quarter same-store sales and gave lower than expected earnings guidance for the new quarter. Also lower in the day after its earnings report was Michael Kors (KORS), which slipped 5% after the shares were downgraded this morning at Avondale to Market Perform from Outperform. INDEXES: Near midday, the Dow was up 15.38, or 0.09%, to 16,648.56, the Nasdaq was up 11.86, or 0.28%, to 4,236.94, and the S&P 500 was up 4.12, or 0.22%, to 1,913.90.
News For AAPL;P;KORS;HSH;TSN;PPC;TLYS;PANW;JNPR From The Last 14 Days
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September 9, 2014
10:36 EDTAAPLJeffrey Gundlach says would sell Apple shares
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10:36 EDTAAPLGundlach says Apple has 'tremendous optimistic' guidance
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09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL KNDI NFLX YHOO TWTR TSLA C BAC FB MCD
09:06 EDTKORSJimmy Choo near London IPO with $1B valuation, Bloomberg says
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08:56 EDTAAPLGT Advanced September volatility elevated into Apple event
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08:42 EDTAAPLApple's online store goes down ahead of today's event
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08:34 EDTAAPLWebMD to benefit from Apple initiatives, says RBC Capital
RBC Capital expects WebMD (WBMD) to benefit from Apple's (AAPL) launch of initiatives in the consumer health IT market. The firm believes that Apple's efforts in this area will provide more publicity for WebMD. RBC Capital keeps a $70 price target and Top Pick rating on WebMD.
08:24 EDTAAPLVIX methodology for Apple at 30.30, above its 10-day moving average of 27.66
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07:30 EDTAAPLApple new launches biggest test yet for CEO Cook, WSJ says
Three years into his tenure, and with his company trying to prove that it can still be a groundbreaking innovator, Apple CEO Tim Cook will look to make his mark on the company with the expected launch of larger iPhones and its first wearable device, said The Wall Street Journal. Reference Link
07:28 EDTAAPLFutures drift in early trading
U.S. equity futures are suggesting another quiet open as they trade near fair value. There is little to look forward to as far as a catalyst, but investors will be watching the highly anticipated launch of Apple's (AAPL) new products .Meanwhile, little market moving economic data is expected to be announced today.
07:28 EDTAAPLThe Money Event, Inc to hold a conference
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07:27 EDTAAPLApple partner Mayo Clinic to demonstrate HealthKit at event, Star Tribune says
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07:18 EDTAAPLApple expanding Siri team in Boston, BetaBoston reports
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06:56 EDTAAPLApple September weekly 98 straddle priced for 4.2% move into press event
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06:53 EDTAAPLApple volatility elevated into press event
Apple September weekly call option implied volatility is at 59, September is at 35, October is at 28, November is at 26, December is at 26, January is at 24; compared to its 26-week average of 25 according to Track Data, suggesting large near term price movement into today’s press event.
06:35 EDTAAPLApple looking to refocus on 9.7-inch iPad in 2H14, DigiTimes Research says
Apple looks to refocus its aggressiveness on the new 9.7-inch iPad and overall iPad shipments in Q3 are expected to return to growth, reports DigiTimes Research. For the full year, however, the weakening demand in Europe and the US, the upcoming larger iPhones and the delay of the next-generation iPad mini are expected to impact iPad sihpments, with the volume estimated to be lower than 70M units. Reference Link
06:33 EDTAAPLApple may call 5.5-inch iPhone 'iPhone 6 Plus,' Business Insider reports
Apple may call the 5.5-inch iPhone the "iPhone 6 Plus," Business Insider reports, citing Japanese Apple blog Macotakara. The 4.7-inch version of the device is expected to be called the iPhone 6. Reference Link
06:20 EDTAAPLForrester: Apple could sell 10M iWatches this year, FT reports
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06:18 EDTAAPLNXP Semiconductors volatility low into Apple event
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06:15 EDTAAPLSynaptics volatility low into Apple event
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