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January 25, 2013
16:30 EDTAAPL, SCSS, NFLX, OSK, NUS, HLF, XOM, MSFT, T, PG, EGHTOn The Fly: Closing Wrap
Stocks on Wall Street were higher with the Nasdaq leading the major averages, despite another down day from its biggest component Apple (AAPL). The S&P 500 spent most of the session near the important psychological level of 1500, eventually finishing just above that level, within reach of its all-time highs... ECONOMIC EVENTS: In the U.S., data showed new home sales fell 7.3% to a 369K rate in December, versus expectations for an increase of 2.1%. However, November sales were revised substantially higher. In Europe, the ECB announced that 278 banks will repay over EUR137B of LTRO funds at the end of this month, which was more than expected. Also, German business confidence increased more than economists forecast, as indicated by the Ifo institutes' business climate index climbing to 104.2 from 102.4 in December... COMPANY NEWS: Three Dow components reported earnings last night or this morning and all three advanced after their reports. Procter & Gamble (PG) led the Dow, up $2.83, or 4.02%, to $73.25 after its earnings and guidance beat expectations. Microsoft (MSFT) gained 25c, or 0.9%, to $27.88 and AT&T (T) gained 27c, or 0.8%, to $34.02... Apple shares fell $10.65, or 2.36%, to $439.85, bringing the company's market cap to $413.04B, making ExxonMobil (XOM) the world's most valuable company and taking Apple shares to their 52-week low... On CNBC's Fast Money Halftime, Bill Ackman discussed his short position in Herbalife (HLF) again, and responded to attacks by activist investor Carl Icahn. During his interview, Ackman mentioned that he has heard Dan Loeb, who notably took a long position in Herbalife, is short shares of Nu Skin (NUS). Icahn later joined the broadcast and the two hedge fund managers aired their personal grievances in a bizarre half hour of television... MAJOR MOVERS: Among the notable gainers were Oshkosh (OSK), up $6.50, or 18.8%, to $41.08 after beating quarterly earnings expectations and raising its FY13 profit view, and Netflix (NFLX), which gained $22.70, or 15.46%, to $169.56 following a 42% gain during yesterday's session. Among the noteworthy losers following earnings reports were Select Comfort (SCSS), down $5.04, or 17.87%, to $23.16 and 8x8 (EGHT), down 86c, or 10.83%, to $7.08... INDICES: The Dow was up 70.65, or 0.51%, to 13,895.98; the Nasdaq was up 19.33, or 0.62%, to 3,149.71; the S&P 500 was up 8.14, or 0.54%, 1,502.96.
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July 15, 2014
16:00 EDTAAPLOptions Update; July 15, 2014
iPath S&P 500 VIX Short-Term Futures up 53c to 28.02. Option volume leaders: AAPL FB GOOG AMZN ABX DIS NFLX TWTR TSLA according to Track Data.
12:55 EDTAAPLEarnings Preview: Intel up over 12% since pre-announcement
Intel (INTC) is expected to report second quarter earnings after the close on Tuesday, July 15, with a conference call scheduled for 5:00 pm ET. Intel is a global semiconductor manufacturer and a member of the Dow Jones Industrial Average. EXPECTATIONS: Analysts are looking for earnings per share of 52c on revenue of $13.69B. The consensus range is 45c-55c for EPS on revenue of $13.0B-$14.0B, according to First Call. Along with its first quarter report, Intel said it saw Q2 revenue of $13B, plus or minus $500M, compared to consensus at that time of $12.96B. Intel said then that it had expected its fiscal year 2014 revenue to be approximately flat, compared to consensus at that time of $53.15B. Subsequently, on June 12, Intel raised its Q2 revenue forecast to be $13.7B, plus or minus $300M, citing stronger than expected demand for business PCs. Intel added that it now expects some revenue growth for the year and that its full-year gross margin percentage is now expected to be in the upper half of the previous range of 61%, plus or minus a few percentage points, driven mostly by expected improvements in unit cost and volume. LAST QUARTER: Intel reported Q1 EPS of 38c, compared to consensus expectations at that time of 37c. The company's revenue of $12.8B was generally in-line with the consensus forecast. For the quarter, the company's gross margin came in at 59.7%. STREET RESEARCH: On the day after Intel made its positive pre-announcement, its stock was upgraded by several research firms. At that time, Morgan Stanley upgraded the shares to Equal Weight from Underweight, Roth Capital raised its rating to Buy from Neutral, and Drexel Hamilton upped its rating to Buy from Hold. Several firms also increased their price targets on Intel, with Jefferies raising its price target for Intel to $40 from $35 and Pacific Crest taking its target up to $35 from $32. Last night, coverage of Intel was initiated at Imperial Capital, which placed an Outperform rating and $37 target on the stock. NEWS: After eight quarters of declining shipments, worldwide PC shipments experienced flat growth in the second quarter of 2014, Gartner reported recently. Worldwide PC shipments totaled 75.8M units in the quarter, a 0.1% increase from the same quarter of 2013, according to Gartner. Another research firm, International Data Corporation, estimated that worldwide PC shipments totaled 74.4M units in the second quarter, marking a year-on-year decline of 1.7%. In company specific news, a July 9 report from MacRumors, citing Chinese site VR Zone, claimed that Intel has decided to further postpone the shipping of its line of 14-nanometer Broadwell chips, which are anticipated to be included in future versions of the Apple's (AAPL) MacBook Air, Retina MacBook Pro, and iMac. A report two days later from DigiTimes said that Intel is set to unveil its 14nm processors and 10nm wafers at its Developer Forum in San Francisco, citing sources from the upstream supply chain. According to the report, Intel will release the 14nm Core M-series processors in Q4 and 14nm Broadwell-based processors in January 2015. In June, The Wall Street Journal reported that Intel announced plans to package its standard server processors alongside a different class of programmable chip in a combination that includes an FPGA, or field programmable gate array. The Journal noted that FPGAs have been sold for years by Xilinx (XLNX) and Altera (ALTR), but that the general manager of Intelís data center group, Diane Bryant, declined to disclose Intelís partner on the latest effort or when the resulting products would hit the market. PRICE ACTION: Since the day after its earnings pre-announcement, Intel shares have risen over 12% and its stock is up more than 17% over the last three months. In afternoon trading ahead of tonight's report, Intel was trading near flat at $31.53.
12:01 EDTMSFTMicrosoft July weekly volatility elevated into Q4 and outlook
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11:55 EDTMSFTMicrosoft hits a fresh 52-week high, levels to watch
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11:41 EDTAAPLApple CEO has 'never met' Carney, The Loop reports
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10:46 EDTAAPLApple rumored to solve alleged battery problem in new iPhones, AppleInsider says
According to reports from Asia, Apple is rumored to have solved its issue with the construction of ultra-thin batteries for its next-generation iPhones, says AppleInsider. Apple is said to have enlisted a new manufacturing partner in Taiwan to craft the batteries, added AppleInsider. Reference Link
09:40 EDTAAPLApple 'iWatch' said to debut in two sizes, three models, AppleInsider says
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09:38 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL FB JPM TSLA
09:31 EDTMSFTSenate Judiciary Committee to hold a hearing
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09:29 EDTMSFTMicrosoft in talks to buy cybersecurity start-up Aorato, WSJ says
Microsoft is in talks to buy Israel-based cybersecurity start-up Aorato in a deal worth around $200M, according to The Wall Street Journal, citing a person familiar with the matter who noted that the pact could close within the next two months. Reference Link
09:05 EDTMSFTMicrosoft price target raised to $50 from $45 at Nomura
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08:35 EDTMSFTCisco announces multi-year sales, go-to-market agreement with Microsoft
Cisco (CSCO) announced a multi-year sales and go-to-market agreement with Microsoft (MSFT) designed to modernize data centers through the delivery and acceleration of integrated solutions. Cisco and Microsoft will both invest in sales, marketing and engineering resources to drive global alignment, while delivering deeper technology integration across cloud and data center markets. The companies will focus on integrating market leading technologies, including Cisco Unified Computing System, Cisco Nexus switching and Microsoft Cloud OS solutions including Windows Server, System Center, SQL Server and Microsoft Azure.
08:03 EDTNFLX, TPublic speak out on FCC 'net-neutrality' plan, WSJ says
The Federal Communications Commission's has received more than 677K comments so far from the public on its proposed 'net-neutrality' rules for how broadband providers can treat content traveling over their networks and a random sampling of the input suggests that the agency will have work to do to sell the plan, according to The Wall Street Journal. Companies that provide broadband Internet service include Comcast (CMCSA), AT&T (T), Verizon (VZ) Time Warner Cable (TWC), and Cablevision (CVC). Netflix (NFLX) sends a great deal of content over the Internet and strongly supports net neutrality. Reference Link
07:24 EDTMSFTMicrosoft to hold a conference
MSFT Worldwide Partner Conference to be held in Washington, D.C. on July 13-17.
07:23 EDTMSFTFortune to hold a conference
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07:15 EDTTIIR Holdings to hold a conference
14th Annual Shopper Insights in Action Conference to be held in Chicago on July 14-16.
06:43 EDTAAPLApple reportedly considering Carney for PR head position, Re/code reports
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06:24 EDTMSFTMicrosoft poised to make job reductions, Bloomberg says
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06:20 EDTAAPLBoy's rash linked to possible exposure to nickel found in iPad, WSJ reports
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06:06 EDTMSFTElectronic Arts names Ken Moss as Chief Technology Officer
Electronic Arts (EA) announced on its website that it has named Ken Moss as its Chief Technology Officer. As CTO, Ken will lead the organization, strategy and vision for EAís Digital Platform and Information Technology divisions. Moss comes to EA most recently from eBay (EBAY), where he led the Marketplace Technology, Science and Data global organization. He is a 20-year veteran of Microsoft (MSFT), where he founded and led the engineering and product teams on Search -- which later became Bing -- and played an important role in Microsoftís transition to large-scale services. Reference Link
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