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Stock Market & Financial Investment News

News Breaks
May 9, 2014
10:40 EDTAAPL, SKUL, P, HAR, YHOO, TWTR, YELPMunster says Beats seems like poor fit for Apple
After a media report stated that Apple (AAPL) was in talks about buying Beats Electronics, Piper Jaffray analyst Gene Munster wrote that acquiring Beats "sounds like a bad idea" for the iPhone and iPad maker. Beats Electronics, which was co-founded by rapper and record producer Dr. Dre, sells headphones and other audio equipment and operates a music streaming service. WHAT'S NEW: Financial Times reported last night, citing people familiar with the negotiations, that Apple is in talks to acquire Beats for $3.2B in a deal that could be announced as early as next week. It's difficult to understand Apple's rationale for acquiring Beats, wrote Munster in a note to investors earlier today. Beats does not have any intellectual property that would make it a good acquisition for Apple, and although Beats would provide a world class music brand, the tech giant already has a world class brand, according to Munster. He believes that Apple would be better served by acquiring an Internet services company such as Yelp (YELP), Twitter (TWTR), Square "and even Yahoo (YHOO)." Munster kept an Overweight rating on Apple. WHAT'S NOTABLE: Shares of another audio equipment maker, Skullcandy (SKUL), are surging following the report. In a note to investors earlier today, research firm Roth Capital wrote that the valuation at which Apple is reportedly looking to buy Beats suggests that Skullcandy was materially undervalued before the market opened today. Apple is reportedly discussing buying Beats for about 2.2 times Beats' estimated 2013 revenue, while Skullcandy was trading at just 0.9 times its 2013 revenue, according to the firm. The firm kept a $10 price target and Buy rating on Skullcandy. OTHERS TO WATCH: Harman International (HAR) is an audio equipment maker, while Pandora (P) offers a music streaming service that is significantly more popular than that of Beats. PRICE ACTION: In early trading, Apple fell about 1% to $583.20, Skullcandy jumped 5% to $7.21, Pandora rose 1.5% to $22.54 and Harman was fractionally lower at $103.65.
News For AAPL;SKUL;P;HAR;YHOO;TWTR;YELP From The Last 14 Days
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October 14, 2014
07:24 EDTAAPLApple price target raised to $110 from $96 at Credit Suisse
Credit Suisse raised Apple's price target to $110 and materially raised estimates to reflect new iPhone forecasts. The firm maintains its Neutral rating based on limited upside.
06:37 EDTAAPLUMC lands 28nm LTE chip orders from Qualcomm, DigiTimes reports
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06:36 EDTAAPL'Double Irish' tax arrangement poised to halt, itnews says
Ireland is positioned to enact legal revisions soon that will slowly cease its "Double Irish" tax agreement, which has allowed companies like Google (GOOG) and Apple (AAPL) to not spend billions of dollars worth of taxes, according to itnews, citing, two sources familiar with the situation. Reference Link
06:30 EDTAAPLApple expected to show new iPads at Thursday's event, Re/code says
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06:30 EDTAAPLSolvay, Apple allegedly enter supply agreement, Bloomberg says
Solvay (SVYZY) and Apple (AAPL) have supposedly entered a supply agreement in which the Belgium chemical company will supply a type of high-performance plastic for iPhone 6 devices, according to Bloomberg, citing two people with knowledge of the situation. Reference Link
October 13, 2014
16:04 EDTSKULSkullcandy announces two ASTRO headsets compatible with Xbox One
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16:02 EDTAAPLOptions Update; October 13, 2014
iPath S&P 500 VIX Short-Term Futures up 3.71 to 39.56. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX SUNE GILD BAC PBR according to Track Data.
13:10 EDTYHOOGoogle's Schmidt says Amazon is company's biggest search rival, FT reports
Eric Schmidt, the executive chairman of Google (GOOG), says Amazon (AMZN) is his company's biggest rival in search, not Bing (MSFT) or Yahoo (YHOO), the Financial Times reports. Schmidt also argued in Berlin that Google should not be regulated "as if it were the gatekeeper of the internet," given the influence of Amazon and Facebook (FB). Reference Link
12:13 EDTYHOOYahoo upgraded as BGC sees higher chances for tax efficient monetization
Research firm BGC Partners upgraded its rating on Yahoo (YHOO) to Buy from Hold, saying that the chances of the company monetizing its assets in a more tax efficient manner have increased now that Alibaba (BABA) has come public. Among the possible scenarios, Yahoo may be acquired by Alibaba, the firm added. WHAT'S NEW: Yahoo's chances of paying a relatively low tax rate on the sale of its stakes in Alibaba and Yahoo Japan, a Japanese Internet company, have risen, BGC Financial analyst Colin Gillis stated. Yahoo could owe up to $15B of taxes on its sale of the assets, the analyst estimated. If Yahoo pays full tax liability, its stakes would be worth $43.5B. If it pays no taxes, the assets would be worth $58.5B, he estimated. Gillis set his price target on Yahoo at $50, representing the midpoint of the two scenarios, he stated. Among various scenarios that could play out, Alibaba could choose to buy Yahoo and subsequently unload Yahoo's core business and the American company's stake in Yahoo Japan, the analyst said. Yahoo shareholders could receive cash and shares of Alibaba as part of such a deal, Gillis stated. If Yahoo is not acquired by Alibaba, the American company should combine with AOL (AOL), as recently proposed by activist investor Starboard Value, Gillis contended. Merging with AOL could accelerate Yahoo's revenue growth by over 50% and increase its EBITDA by over 35%, Gillis estimated. PRICE ACTION: In early afternoon trading, Yahoo fell 1% to $39.18.
10:50 EDTTWTRTwitter reverses lower on the session, levels to watch
Shares are down 2% to $49.38 at time of writing, nearing 1-month lows. Support below is at $47.56, the 1-month low. Resistance is at $50.16.
10:26 EDTSKULSkullcandy management to meet with Roth Capital
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10:08 EDTYHOOOn The Fly: Analyst Upgrade Summary
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09:39 EDTAAPL, TWTRActive equity options trading on open
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09:28 EDTYHOOYahoo upgraded to Buy from Hold at BGC Financial
BGC Financial analyst Colin Gillis upgraded his rating on Yahoo (YHOO) shares to Buy saying the company's remaining assets should get monetized in a more tax efficient manner now that Alibaba (BABA) is public. Gillis also points out that Alibaba could see benefits from acquiring Yahoo. He raised his price target for Yahoo shares to $50 from $37.
08:31 EDTAAPLApple says iPhone 6, 6 Plus to arrive in 36 more countries this month
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07:38 EDTYELPSalesforce to hold a conference
Dreamforce 2014 is being held in San Francisco on October 13-16.
07:22 EDTPSony/ATV could ditch licensing firms due to streaming dollars, NY Post reports
Sony/ATV Music Publishing (SNE) is considering no longer dealing with performance rights groups BMI and ASCP, and instead negotiating directly with online music services like Pandora (P), YouTube (GOOG) and Spotify due to outdated rules and low royalties, the New York Post reports. Reference Link
06:41 EDTAAPLWalgreens to roll out Apple Pay on October 18, MacRumors reports
Walgreens (WAG) will begin rolling out Apple Pay (AAPL) on Saturday, October 18, according to a memo obtained by MacRumors. Reference Link
06:05 EDTAAPLReport: Apple iPhone 6 pre-orders in China reach 20M, Digitimes says
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October 12, 2014
18:06 EDTTWTRTwitter, French bank partner to allow money transfers via tweets
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