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Stock Market & Financial Investment News

News Breaks
June 5, 2014
09:38 EDTNQ, TWTR, SHLD, SPWR, RAD, ZNGA, AAPL, SSYS, DIS, MNKDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL SHLD MNKD ZNGA TWTR DIS RAD NQ SSYS SPWR
News For AAPL;SHLD;MNKD;ZNGA;TWTR;DIS;RAD;NQ;SSYS;SPWR From The Last 14 Days
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November 12, 2014
13:11 EDTTWTRTwitter says user base to shift towards Android, managing products accordingly
Says currently, user base equally split between iPhone and Android. Expects Android to become dominant amid global expansion.
13:06 EDTTWTRTwitter says plans to simplify sign-up process, will ask fewer questions
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12:50 EDTTWTRTwitter says plans to launch consumer video
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12:42 EDTTWTRTwitter says now measuring impressions from syndication partners
Says has about 185B impressions per quarter.
12:38 EDTTWTRTwitter says not interested in streaming music business
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12:38 EDTTWTROn The Fly: Midday Wrap
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12:33 EDTTWTRTwitter says scope to meet goal includes syndication platform
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12:28 EDTTWTRTwitter says expects to grow as fast or faster than IDC forecast rate
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12:19 EDTTWTRTwitter says will explore additional mobile applications
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12:17 EDTTWTRTwitter says will introduce 'instant timeline' feature
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12:16 EDTTWTRTwitter says plans to accelerate pace and breadth of product change
Says adding significant functionality to private messaging and will roll out this quarter. Says goal is to build world's largest daily audience. Comments from analyst day presentation.
11:59 EDTTWTRTwitter November weekly 40 straddle priced for 5% move into analyst day
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11:44 EDTDISSeaWorld sinks to 52-week low after Q3 profit, attendance fall
Shares of theme park and entertainment company SeaWorld (SEAS) are plunging after the company’s profit, attendance and adjusted EBITDA all fell significantly on a year over year basis. The also forecast fiscal year 2014 revenue and adjusted EBITDA to be down from last year. WHAT'S NEW: This morning, SeaWorld reported Q3 adjusted earnings per share of $1.01, missing analysts' $1.13 consensus by 12 cents. Revenue for the quarter was $495.84M, compared to analysts' consensus estimates of $495.4M. Adjusted EBITDA in the quarter was $209.1M, a decrease of $45.3M, or 18%, compared to the third quarter of 2013. Attendance in Q3 ws 8.4M, down from 8.9M a year ago. The company believes the decline in attendance results from a combination of factors including negative media attention in California along with a challenging competitive environment, particularly in Florida. The competitive challenges in Florida relate to significant new attraction offerings at competitor destination parks, along with a delay in the scheduled opening of one of the company's new rides at its Busch Gardens Tampa park. The decrease in total revenue in the third quarter was primarily driven by a 5.2% decline in attendance, along with a 2.9% decline in total revenue per capita from $60.74 in the third quarter of 2013 to $58.99. WHAT’S NOTABLE: Looking ahead, SeaWorld forecast FY14 revenue and adjusted EBITDA to be down 6%-7% and 14%-16%, respectively. The FY14 revenue consensus ahead of the company's report was $1.37B. The company also said it expects to take a restructuring charge of up to $13M in Q4 related to its cost reduction initiatives. The company sees FY14 capital expenditures to be in the range of $155M-$165M and fiscal year 2015 CapEx to be in the range of $185M-$195M. Jim Atchison, the company's Chief Executive Officer, noted that the attendance trends the company experienced in the latter part of the second quarter continued into Q3. He called 2014 a “challenging year,” and said the company was executing a cost savings plan that is expected to deliver approximately $50M of annual cost savings by the end of 2015. He also said the company was adjusting its attraction and marketing plans to address immediate top-line concerns. PRICE ACTION: In late morning trading, SeaWorld fell $2.24, or 12.04%, to $16.36 on more than twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $16.53. Including today's pull back, the shares have lost approximately 48% over the past 12 months. OTHERS TO WATCH: Other companies in the theme park space include Disney (DIS), up 0.03%, Six Flags (SIX), down 0.16%, and Cedar Fair (FUN), up 0.76%.
10:43 EDTDISBernstein downgrades Discovery, Viacom, citing 'structural decline' in TV
Research firm Bernstein sees strong evidence that audiences of ad-supported TV have entered a period of "structural decline." The firm cut its rating on Discovery (DISCA), the owner of the Discovery Channel and Animal Planet cable stations, and Viacom (VIA,VIAB), which owns MTV and and Nickelodeon. The firm also cut its price target on CBS (CBS). WHAT'S NEW: Noting that audiences for ad-supported TV have fallen by unprecedented amounts for four months, Bernstein analyst Todd Juenger added that consumption of subscription video on demand, or SVOD, services continue to grow. Meanwhile, TV networks are seeing increased competition from Internet websites for ad dollars, limiting the ability of the networks to raise ad prices, Juenger stated. The profit margins and return on investment of content owners are likely to decline over time, the analyst believes. He downgraded Discovery to Market Perform from Outperform and set a $37 price target on the stock, and cut Viacom to Underperform from Market Perform, placing a $71 price target on that stock. Juenger reduced his price target on CBS to $55 from $60 and kept a Market Perform rating on the shares. He kept Outperform ratings on 21st Century Fox (FOXA), Disney (DIS), and Time Warner (TWX), saying that those are least affected by the trend, as they are less dependent than their peers on the American TV ad market and have a large amount of sports programming. PRICE ACTION: In mid-morning trading, Discovery lost 0.6% to $31.81, Viacom class A shares gained 0.6% to $70.09, CBS fell 0.7% to $51.48, Twenty-First Century Fox class A shares lost 0.5% to $34.75, Time Warner fell 0.5% to $77.69 and Disney was flat near $90 per share.
09:37 EDTAAPL, TWTRActive equity options trading
Active equity options trading according to Track Data: AAPL CLSN TWTR BABA NFLX TSLA AMZN CSIQ C
07:51 EDTDISDisney trades at a premium despite low forward growth, says Cowen
Cowen raised its price target on Disney shares to $83 from $75, but reiterated its Market Perform rating on Disney shares, citing the stock's premium trading valuation despite the lowest forward earnings growth of its peer group. The firm also cited higher sports programming costs, as well as difficulty envisioning outperformance to current estimates.
06:37 EDTTWTRTwitter weekly volatility increases into analyst day
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06:36 EDTAAPLOrder visibility highest for Apple, Lenovo shipments in 2015, DigiTimes says
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06:35 EDTSPWRU.S., China reach carbon emissions deal, NY Times says
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05:50 EDTMNKDStocks with implied volatility movement; MNKD XLF
Stocks with implied volatility movement; MannKind (MNKD) 65, Financial Select Sector (XLF) 15 according to iVolatility.
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