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Stock Market & Financial Investment News

News Breaks
January 28, 2014
12:36 EDTRCII, DD, F, AAPL, CBM, STX, CMCSA, AAL, GLW, PFEOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday with the Nasdaq unable to overcome the weight of Apple (AAPL), which was sharply lower following its earnings report last night. The higher than expected consumer confidence reading offset a disappointing report on durable goods orders and appeared to help the S&P and Dow hold onto their gains near the lunch hour. ECONOMIC EVENTS: In the U.S., durable goods orders dropped 4.3% in December from a revised November figure, missing expectations for an increase of 1.5%. The S&P/Case-Shiller 20-city composite home-price index showed prices rose 13.7% from the prior year in November, which was roughly in-line with economists' forecast. Home prices in the twenty cities dipped by a seasonally adjusted 0.88% in November from October. The Conference Board's consumer confidence index climbed to a five month high reading of 80.7 in January, beating expectations for it to remain nearly unchanged near 78. The Richmond Fed manufacturing survey for January slide to 12 from a prior month reading of 13. COMPANY NEWS: Shares of Apple (AAPL) declined more than 7% after the tech giant reported earnings and revenue that beat expectations, but gave a second quarter revenue outlook that came in below expectations. The company said its Holiday quarter iPhone sales grew to 51M units, but even that large number missed the lofty forecasts of many of Wall Street analysts. The company reported Holiday quarter sales of 26M iPads and 4.8M Macs, both of which were increases from the prior year. Apple shares were downgraded to Outperform from Strong Buy at Raymond James following the report and Oppenheimer also cut its rating on Apple this morning, but at least five other research firms said that weakness in the stock presents a buying opportunity. Also, noted investor and vocal Apple shareholder Carl Icahn took to Twitter to announce he had purchased an additional $500M worth of Apple shares this morning... Pfizer (PFE) led the advancers on the Dow Jones Industrial Index with gains of over 2% after the pharmaceutical maker's profits, adjusted for certain non-recurring issues, beat analysts' consensus forecast. Among other large companies reporting results this morning, Comcast (CMCSA) and Ford (F) advanced, while Corning (GLW) and Du Pont (DD) declined. MAJOR MOVERS: Among the notable gainers was American Airlines (AAL), which rose nearly 5% after the company recently formed from the combination of the former US Airways and AMR Corporation reported earnings and revenue that beat forecasts. Also higher was Cambrex (CBM), which gained more than 16% after its stock was upgraded to Overweight from Equal Weight at First Analysis. Among the noteworthy losers was Rent-to-own retailer Rent-A-Center (RCII), which plunged nearly 20% after the company's fourth quarter results and fiscal 2014 profit guidance fell significantly below expectations. Also lower were shares of Seagate (STX), which slid over 11% after the company reported weaker than expected results, though analysts at Pacific Crest said the stock was still attractive after the miss and Needham recommended using the post-earnings pullback as a buying opportunity. INDEXES: Near midday, the Dow was up 75.98, or 0.48%, to 15,913.86, the Nasdaq was down 1.30, or 0.03%, to 4,082.31, and the S&P 500 was up 8.71, or 0.49%, to 1,790.27.
News For AAPL;PFE;CMCSA;F;GLW;STX;DD;AAL;CBM;RCII From The Last 14 Days
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August 18, 2015
08:04 EDTCMCSABuzzFeed says NBCUniversal to make $200M equity investment in company
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06:30 EDTAAPLU.S. PTO views Apple D'677 iPhone design patent as invalid, Foss Patents says
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06:15 EDTAAPLNew Apple TV's OS to be TV-optimized version of iOS 9, 9to5Mac reports
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06:12 EDTAALAmerican Airlines implied volatility of 35 at lower end of index mean range
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05:55 EDTAAPLQualcomm to supply all modem chips for next iPhone, DigiTimes reports
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August 17, 2015
20:09 EDTCMCSACable companies test virtual reality offerings, Variety says
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19:54 EDTCMCSAComcast online video platform to give creators 70% share of ad revenue, WSJ says
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19:12 EDTAAPLNew Apple TV device to feature iPhone-like interface, 9to5Mac says
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18:46 EDTAAPLGerman carriers prepare for September launch of next iPhone, AppleInsider says
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17:44 EDTAAPLApple says services, store, cloud may be down for some users, Bloomberg reports
16:00 EDTAAPLOptions Update; August 17, 2015
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10:05 EDTAAPLApple preparing first Kangaroo bond, Reuters reports
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09:38 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT
08:22 EDTAAPLSprint customers can upgrade iPhone anytime, included in monthly rate
Sprint (S) announced that customers can upgrade their Apple (AAPL) iPhone anytime, included in their monthly rate. New and upgrade eligible Sprint customers can get iPhone for just $22 per month with iPhone Forever. Anytime customers don't have the latest iPhone, they are eligible to upgrade. They bring their iPhone, upgrade on the spot and away they go. It's that simple. iPhone Forever is available on any eligible Sprint rate plan and upgrade eligibility is always included in your price. New or existing customers who are upgrade eligible can bring in any smartphone and get a 16GB iPhone 6 model and their monthly rate will be reduced to just $15 until their next upgrade. As a special promotion, customers who get iPhone 6 and upgrade before December 31 continue with the discount price of $15 until their next upgrade.
07:54 EDTAAPLApple iPhone sales likely to fall in start of fiscal 2016, says Pacific Crest
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07:42 EDTFNew Street-high target of $465 gives Tesla shares a charge
Shares of Tesla Motors (TSLA) are jumping after Morgan Stanley boosted its price target by $185 to $465, a new high among Wall Street analysts. The company is positioned to dominate as car sales shift to robot-driven and shared vehicles, the firm argues. SELLING MILES: Morgan Stanley analyst Adam Jonas raised his price target for Tesla Motors to $465 from $280, well above Friday's closing price of $243.15. Today, ten trillion vehicle miles are driven annually, with almost all of them delivered by "companies practicing a 100-year-old business model of human-driven, privately owned, internal-combustion vehicles," Jonas tells investors in a research note. General Motors (GM), Ford (F), Toyota (TM) and Honda (HMC) are among the publicly traded traditional carmakers. The market of selling cars is going through some fundamental changes, argues Jonas. He believes Tesla is "uniquely positioned" to dominate given its expertise in autonomous technology and networked machine learning. An app-based, on-demand mobility service could more than triple Tesla's potential revenues by 2029, the analyst estimates. He expects Tesla over the next 18 months to roll out formalized business plans on shared mobility, allowing the electric vehicle maker to sell miles in addition to cars. His new price target of $465 reflects Tesla's potential to lead the revolution of the shared mobility public transportation hyper-structure and more confidence around the commercial viability of Tesla Energy. ROBOT-DRIVEN: Jonas expects nearly all car sales to eventually shift from human-driven, individually-owned cars to robot-driven and shared cars. If Tesla wants to succeed on its mission of accelerating the world's transition to sustainable transport, the move to a shared mobility model is critical, he argues. All of Tesla's cars are electric, connected, and able to "learn" through over-the- air firmware updates at any time, which no other established automaker can claim today, Jonas writes. MARKET REACTION: Investors are buying into what Jonas is arguing. Shares of Tesla are up 5%, or $13.10, to $256.25 in pre-market trading. Over the past three months through Friday's close, the stock is down 2%.
06:38 EDTAAPLApple Watch revenue leader in wearable category, Business Insider reports
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August 16, 2015
19:34 EDTAAPLApple inquires about automotive testing facility, AP says
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18:20 EDTAALFAA working with airlines to restore operations after August 15 cancellations
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16:59 EDTCMCSA'Straight Outta Compton' sidesteps rivals in $56.1M weekend debut
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