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News Breaks
May 9, 2014
Stocks on Wall Street were higher in a choppy session that saw the averages spend time on either side of the flatline before gaining ground in the last hour of trade to close near session highs. With today's close, the S&P 500 and Nasdaq finished the week with losses, while the Dow gained about 0.4% to close at new all-time closing high. ECONOMIC EVENTS: In the U.S., wholesale inventories were up 1.1% in March, which was above the 0.5% forecast, while wholesale sales rose 1.4% in the month. The JOLTS report showed job openings fell 111K in March to 4.01M. COMPANY NEWS: Apple (AAPL) was in-focus after the Financial Times said last night that the iPhone and iPad maker is in talks to acquire Beats Electronics for $3.2B. Following the report of Apple's interest in the headphone maker co-founded by rapper and record producer Dr. Dre, shares of another audio equipment maker, Skullcandy (SKUL), gained 32c, or 4.66%, to $7.18. Pandora (P), which like Beats offers a music streaming service, was up 42c, or 1.89%, to $22.62... Shares of Omnicom (OMC) rose $1.46, or 2.21%, to $67.66 after the company and its advertising peer Publicis Groupe (PUBGY) terminated their proposed merger of equals, citing "difficulties in completing the transaction within a reasonable timeframe." MAJOR MOVERS: Among the notable gainers was CSC (CSC), up $4.35, or 7.49%, to $62.39 after reporting a mixed fourth quarter report but raising its dividend 15% and announcing a new $1.5B share repurchase program. Also higher was Akorn (AKRX), which gained $1.12, or 4.53%, to $25.82 after announcing an agreement to acquire VersaPharm for $440M in a deal the company expects to add $90M-$100M in annual revenue and 10c-12c per share in earnings. Among the noteworthy losers was Jazz Pharmaceuticals (JAZZ), down $4.24, or 3.17%, to $129.45 after the company's first quarter profit and revenue fell short of expectations. Analysts at Piper Jaffray, however, said Jazz's growth story is still "very much intact." Also lower following their quarterly reports were shares of Ubiquiti Networks (UBNT), down $9.99, or 24.15%, to $31.38 and Post Holdings (POST), down $4.05, or 7.78%, to $48.03. INDEXES: The Dow gained 32.37, or 0.20%, to 16,583.34, the S&P 500 was up 2.85, or 0.15%, to 1,878.48, the Nasdaq was up 20.37, or 0.50%, to 4,071.87.
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November 18, 2015
10:49 EDTAAPLGoldman says buy Apple ahead of 'Apple-as-a-Service' sentiment shift
The shares of Apple (AAPL) are climbing after Goldman Sachs added the stock to its Conviction Buy List. Apple is taking steps to increase the monetization of its customer base and investors should begin to focus on the company's monetization and recurring revenue opportunities over the next year, leading to a higher valuation after this transition occurs, the firm predicts. WHAT'S NEW: Apple can significantly increase the monetization of its 500M users over the next few years, Goldman analyst Simona Jankowski wrote in a note to investors today. It should be able to attain this goal by selling more of its services, such as Apple TV and Apple Music, to its customers and by convincing them to buy more of its hardware products, including Macs, iPads and watches, the analyst stated. Apple's introduction of installment plans for the iPhone should also facilitate its transition to a recurring revenue model, Jankowski indicated. If Apple creates similar installment plans for its other products and services, its current average revenue per iPhone user would be $42 per month, the analyst estimated. If every iPhone users adopts every Apple product and service, the tech giant's ARPU would climb to $153 per month, implying that it can grow significantly as its users adopt more of its products and services, according to Jankowski. The market currently values Apple as a hardware company and would give the company a higher valuation if it began to view the tech giant as having a recurring revenue model, which she dubs "Apple-as-a-Service." She has a $163 price target on the shares. PRICE ACTION: In morning trading, Apple rose about 3% to $117 per share.
10:47 EDTAAPLTarget sees Apple Watch to be top gift in wearable category in holiday season
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10:29 EDTCSCOptions with increasing implied volatility
Options with increasing implied volatility: TERP CSC SGMS RH BBRY ULTA SNDK ORCL NKE VNET
10:00 EDTAAPLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Apple (AAPL) upgraded to Conviction Buy from Buy at Goldman... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... Cognex (CGNX) upgraded to Buy from Hold at Canaccord... FARO Technologies (FARO) upgraded to Buy from Hold at Canaccord... Lazard (LAZ) upgraded to Strong Buy from Outperform at Raymond James... LendingClub (LC) upgraded on valuation, positive outlook at Sterne Agee CRT... Middleby (MIDD) upgraded to Outperform from Market Perform at BMO Capital... Perrigo (PRGO) upgraded to Buy from Neutral at B. Riley... RE/MAX Holdings (RMAX) upgraded to Market Perform from Underperform at JMP Securities... Sally Beauty (SBH) upgraded to Buy from Neutral at Goldman... Shopify (SHOP) upgraded to Outperform from Market Perform at Raymond James... TASER (TASR) upgraded to Buy from Neutral at Ladenburg... USG (USG) upgraded to Buy from Neutral at Northcoast.
09:52 EDTAAPLApple trades up, Goldman adds to Conviction Buy List
The stock was last at $116.89, up over 2.8% on the session on moderate volume. At current price next resistance is at $119.27. Support is at $115.75, the opening price of the day.
09:34 EDTAAPLActive equity options trading on open
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08:28 EDTJAZZLeerink to hold a bus tour
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08:01 EDTSKULFurey Research Partners to hold a conference
Hidden Gems Conference is being held in New York on November 18.
06:14 EDTAAPLApple upgraded to Conviction Buy from Buy at Goldman
Goldman Sachs analyst Simona Jankowski upgraded Apple to Conviction Buy saying the stock trades at a 30% discount to the S&P 500 multiple. The market views Apple as a "hardware" stock, or a company with limited recurring revenue and visibility that only extends to the next product cycle, Jankowski tells investors in a research note. Over the next year, however, the analyst expects the market focus will shift from unit growth to installed base monetization and recurring revenues, which she dubs "Apple-as-a-Service." Jankowski believes Apple has a "significant multi-year opportunity" to increase monetization given its estimated installed base of 500M loyal iPhone users. She has a $163 price target for shares. The iPhone maker closed yesterday down 49c to $113.69.
06:12 EDTAAPLApple Pay coming to Domino's by end of year, Cinnabon in 2016, AP reports
Apple (AAPL) yesterday said that company-owned Domino's (DPZ) pizza outlets will be accepting Apple Pay by the end of 2015, while Cinnabon plans to integrate the mobile payments solution in its stores in 2016, The Associated Press reports. Reference Link
05:56 EDTAAPLSony Mobile, LG to develop smartphone app processors in-house, DigiTimes says
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November 17, 2015
16:01 EDTAAPLOptions Update; November 17, 2015
iPath S&P 500 VIX Short-Term Futures up 1.32 to 21.07. Option volume leaders: GE BAC AAPL FB NFLX SYF WMT CSCO MU SUNE VRX BABA AMZN HD FCX
10:20 EDTCSCOptions with increasing implied volatility
Options with increasing implied volatility: SGMS HZNP CSC ULTA RH BURL GME AEO BBRY TIF
09:35 EDTAAPLActive equity options trading on open: AAPL FB GE HD
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09:02 EDTAAPLAnalyst pans competing products, says buy Fitbit
Shares of previous high-flier Fitbit (FIT) have dropped about 30% in the last two weeks following the company's third quarter earnings report, but an analyst at Bank of America upgraded his view of the fitness tracker maker this morning, saying that now is the time to buy ahead of fourth quarter results that may be boosted by the "underwhelming" new products being launched by its competitors. UNDERWHELMING COMPETITION: Fitbit's sales guidance for this holiday quarter looks conservative, contends Bank of America analyst Nat Schindler, who notes that the company only had the launch of one new product last December but will have the Charge, Charge HR and Surge to drive sales this season. Schindler also notes that the company's international advertising has expanded into more countries ahead of the holidays this year. Key, however, may be the "underwhelming" lineup of new or updated fitness trackers launched by competitors, such as the Microsoft's (MSFT) Band 2, Jawbone's UP4 and Sony's (SNE) Smartband 2, many of which have only minor improvements and no "must have" features to pull consumers away from Fitbit, Schindler told investors in his research note. PLATFORM PICKING UP STEAM: The analyst also pointed out that Fitbit now has more than 20 companies signed onto its health and wellness platform, including big names like Target (TGT) and Barclays (BCS), which he believes should help drive revenue beats in the upcoming fiscal year due to increased device sales. Also, the additional dashboard data should help Fitbit maintain long-term user engagement, said Schindler. APPLE WATCH: Apple's (AAPL) Apple Watch is largely viewed as the biggest potential competitive threat to Fitbit's offerings, but on the fitness tracker maker's last earnings call CEO James Park said Fitbit's products differ from those of its competitors in several key aspects, including pricing, cross-platform compatibility, brand awareness and product line breadth. Other wearables makers include Garmin (GRMN) and Samsung. PRICE ACTION: Since the day after Fitbit's last earnings report after the market close on November 2, its shares have fallen about 29.5% to close yesterday at $28.80. In pre-market trading this morning, Fitbit shares rose 2% to $29.40.
08:16 EDTPPandora acquisitions suggest core business weak, says Pacific Crest
Pacific Crest believes that Pandora's recent acquisitions indicate that its core business has " impaired operational leverage." Additionally, the firm does not think the acquisitions improve the company's long-term profit potential. It does not recommend owning the stock.
07:43 EDTPPandora acquisition an attempt to expand platform, says Canaccord
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07:25 EDTPPandora transaction positive, says Stifel
After Pandora announced that it had acquired key tech assets of Rdio and would launch an on-demand service, Stifel says that Pandora obtained the high quality assets at a lower price than it had previously thought possible. The firm thinks that Pandora's high quality "music discovery" will enable it to differentiate its on-demand product from that of the competition. Stifel keeps a $27 price target and Buy rating on the shares.
07:01 EDTAAPLGlobal Payments to offer Apple Pay support in Canada
Global Payments (GPN) said it will offer its merchants in Canada the ability to accept American Express (AXP) payments made with Apple (AAPL) Pay. As an Apple Pay-qualified payment provider, Global Payments' robust suite of payments solutions is fully enabled for Apple Pay acceptance, allowing merchants to offer their customers the convenience of Apple Pay acceptance in-store, in-app and on-the-go.
05:22 EDTPStocks with implied volatility movement; P PFE
Stocks with implied volatility movement; Pandora (P) 104, Pfizer (PFE) 29 according to iVolatility.
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