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Stock Market & Financial Investment News

News Breaks
January 28, 2014
12:36 EDTAAPL, CBM, AAL, DD, STX, GLW, F, CMCSA, PFE, RCIIOn 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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September 5, 2014
06:41 EDTCMCSAFCC head says agency to promote high speed Internet choices, NY Times reports
Stating that fewer than 25% of American homes have access to more than one high speed Internet provider, FCC Chairman Tom Wheeler said the agency would look to promote additional choices in the sector, according to The New York Times. High speed Internet providers include Comcast (CMCSA), Cablevision (CVC), Verizon (VZ), AT&T (T), and Google (GOOG). Reference Link
06:29 EDTAAPL$30 to be competitive price for sapphire covers in 2015, DigiTimes Research says
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06:20 EDTAAPLApple plans to warn users of attempts to hack iCloud, WSJ reports
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06:15 EDTAAPLAvago price target raised to $100 from $90 at Citigroup
Citigroup raised its price target for Avago (AVGO) shares to $100 citing increased confidence in the company's wireless content gains after meeting with management. Citi believes Avago will likely double its dollar content in Apple's (AAPL) iPhone 6 when compared to the iPhone 5S. The firm reiterates a Buy rating on Avago, calling the stock its top specialty semi pick. The stock closed yesterday up 70c to $86.09.
September 4, 2014
17:32 EDTAAPLApple can head higher, Samsung event underwhelms, Barron's says
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16:05 EDTPFEPfizer granted orphan status for sickle cell disease drug
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16:00 EDTAAPLOptions Update; September 4, 2014
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11:59 EDTAAPLApple to feature NFC in iWatch as well as iPhone, WSJ says
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11:30 EDTAALStocks with call strike movement; AAL GILD
American Airlines (AAL) November 44 call option implied volatility increased 6% to 39, Gilead (GILD) November 130 call option implied volatility decreased 5% to 40 according to IVolatility.
11:20 EDTAAPLApple iPhone 6 seen lacking sapphire cover, AppleInsider says
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09:35 EDTAAPLActive equity options trading on open
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09:08 EDTAAPLExperts: Photo theft should highlight cloud risk, The Hill reports
The recent theft of celebrity photos from Apple's iCloud should make people realize the dangers of using the cloud to store personal information, The Hill quoted security experts as saying. Meanwhile, the website reported that the Federal Trade Commission could launch a probe in response to the incident, while Congress may also respond. Reference Link
08:47 EDTAAPLApple shares should be bought on weakness, says JMP Securities
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07:30 EDTAAPLApple has good read through from ineffective Samsung launch, says Cantor
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07:23 EDTPFEAstraZeneca called for inversion clamp down as part of defense, WSJ says
Amid its defense against an unsolicited takeover bid from rival Pfizer (PFE), AstraZeneca (AZN) hired advisers with close ties to the Obama administration, who made calls to senior administration officials urging a clamp down on tax inversions, said The Wall Street Journal, citing people familiar with the previously undisclosed calls. Reference Link
06:51 EDTAAPLApple's iPhone 6 subsidies unlikely to be cut in China, WantChinaTimes says
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06:40 EDTAAPLApple, others restart discussions with tech staff in hiring suit, Reuters says
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06:30 EDTAAPLIDC: Phablet shipments to pass PCs in 2014, tablets in 2015, DigiTimes reports
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06:22 EDTAAPLeBay to meet PayPal estimates despite competition, says Piper Jaffray
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05:56 EDTAAPLStocks with implied volatility movement; END AAPL
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