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Stock Market & Financial Investment News

News Breaks
November 25, 2012
15:40 EDTGOOG, SSNLF, AAPLApple asks court to add more Samsung devices to case, Bloomberg says
According to court papers, Apple (AAPL) asked the court to add Samsung's (SSNLF) Galaxy S III, running the new Jelly Bean system from Google (GOOG), the Galaxy Tab 8.9 Wifi tablet computer, the Galaxy Tab 2 10.1 and the Rugby Pro and Galaxy S III mini to its Samsung case, says Bloomberg. Reference Link
News For AAPL;SSNLF;GOOG From The Last 14 Days
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January 28, 2016
13:53 EDTAAPLApple acquires education technology startup LearnSprout, Bloomberg reports
13:07 EDTAAPLFacebook says expanding ability to share live video in U.S. via iPhone
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10:34 EDTAAPLApple supplier Cirrus jumps after results beat expectations
The shares of Cirrus Logic (CRUS) are surging after the company reported stronger than expected third quarter results last night. Research firm Oppenheimer responded to the news by upgrading the stock to Outperform from Market Perform. Cirrus, which develops integrated circuits, is said to get about 75% of its revenue from Apple (AAPL). WHAT'S NEW: Cirrus reported Q3 EPS of 82c, versus analysts' consensus outlook of 81c. The company's revenue also came in slightly above expectations. However, it provided Q4 revenue guidance of $225M at the midpoint of their range of $210M-$240M, versus the consensus outlook of about $260M. However, Cirrus said that it continues to expect its revenue to increase more than 15% in its upcoming fiscal year. "Short-term weakness for certain audio products" caused Cirrus' Q3 results and Q4 outlook to be weaker than the company originally expected, the company stated. iPhones, whose sales came in below analysts' consensus forecast last quarter, utilize audio products from Cirrus. Cirrus CEO Jason Rhode said he remains upbeat about the company's prospects, stating, "We are confident that our strategy of focusing on innovative market leading customers in the fastest growing audio and voice segments will fuel future growth." Rhode added that Cirrus expects to sell more products to its existing customers going forward. ANALYST REACTION: Oppenheimer analyst Rick Schafer upgraded Cirrus to Outperform from Market Perform in a note to investors today. Apple will utilize a smart codec from Cirrus to reduce noise in the earbuds of the upcoming iPhone 7 device, Schafer predicted. As a result, Cirrus will obtain an average of about $5.50 for each iPhone 7 sold, up from about $3.50 for the iPhone 6 and iPhone 6+, the analyst estimated. Meanwhile, Cirrus is selling more of its smart codecs and audio amps to Android smartphone makers, accrding to Schafer. He raised its 2017 EPS estimate for the company to $3.30 from $2.74, and he thinks the company's results could beat expectations through the second half of this year. Schafer set a $40 price target on the shares. PRICE ACTION: In early trading, Cirrus climbed 15.5% to $32.29.
10:05 EDTAAPLApple recalls wall plug adapters outside the U.S.
Apple announced a voluntary recall of AC wall plug adapters designed for use in Argentina, Australia, Brazil, Continental Europe, New Zealand and South Korea. "In very rare cases, affected Apple two-prong wall plug adapters may break and create a risk of electrical shock if touched," the iPhone maker said in a statement. The wall plug adapters shipped with Mac and certain iOS devices between 2003 and 2015 and were also included in the Apple World Travel Adapter Kit. Apple is aware of 12 incidents worldwide. The recall does not affect any other Apple AC wall plug adapters designed for Canada, China, Hong Kong, Japan, United Kingdom, United States or any Apple USB power adapters.
09:38 EDTAAPLActive equity options trading on open
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08:04 EDTGOOGHarman CEO: On track to deliver full year plan
"I am pleased to announce our 11th consecutive quarter of top and bottom line growth. Our strong first half results were in-line with our expectations. While we are closely monitoring macroeconomic developments, at this time, we are on track to deliver on our full year plan," said Dinesh C. Paliwal, Harman (HAR) Chairman, President and CEO. "HARMAN continues to innovate and bring industry-first solutions to market. We are also partnering with key technology leaders such as Google (GOOG), Microsoft (MSFT) and Under Armour (UA) to capitalize on the opportunities presented by IoT for automotive, enterprise and consumer electronics. In addition, our acquisition of TowerSec will strengthen our cybersecurity leadership position for automotive."
07:46 EDTAAPLNew iPad Air production to start in Q2, Digitimes reports
Apple is anticipated to unveil its new edition of the iPad Air in March 2016 and production will begin in Q2, with General Interface Solution and TPK to supply touch panels, Digitimes reports, citing Taiwan-based supply chain makers. The new iPad will reportedly come with a 4K resolution panel and up to 4GB in RAM, as well as better battery life, the report says. Reference Link
07:45 EDTGOOGFacebook price target raised to $140 from $125 at Cowen
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07:15 EDTAAPLMarathon Patent Group announces trial date of May 2 in case against Apple
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06:46 EDTAAPLApple may unveil iPad Air 3 at March event, 9to5Mac reports
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06:24 EDTGOOGSNP calls on EU to probe Google's U.K. tax agreement, FT reports
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06:22 EDTAAPL, GOOGGoogle, Apple push back on Euro tax deals, FT reports
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06:19 EDTGOOGItaly finance police say Google avoided EUR227M in taxes, Reuters says
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06:11 EDTAAPLApple could ship 20M Macs this year, DigiTimes reports
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January 27, 2016
19:30 EDTGOOGOn The Fly: After Hours Movers
UP AFTER EARNINGS: Facebook (FB), up 11.4%... Mellanox (MLNX), up 6.4%... Paypal (PYPL), up 5%... Crown Castle (CCI), up 2.2%... Citrix (CTXS), up 2.4%... Las Vegas Sands (LVS), up 1%... SanDisk (SNDK), up 1%. ALSO HIGHER: Radius Health (RDUS), up 1.2% after announcing a clinical collaboration with Novartis (NVS)... LinkedIn (LNKD) is up 2.4%, Alphabet (GOOG, GOOGL) is up 2.2% and 2.6%, respectively, Netflix (NFLX) is up 1%, Amazon.com (AMZN) is up 2%, and Twitter (TWTR) is up marginally after Facebook reported quarterly results... MGM Resorts (MGM) is up 2.2% and Wynn Resorts (WYNN) is up 2.2%. DOWN AFTER EARNINGS: ServiceNow (NOW), down 16.5%... eBay (EBAY), down 12.8%... United Rentals (URI), down 9.7%... Juniper Networks (JNPR), down 9.6%... Silicon Graphics (SGI), down 9.1%... Discover Financial (DFS), down 7.4%... InvenSense (INVN), down 6.1%... Core Laboratories (CLB), down 4.3%... Vertex Pharmaceuticals (VRTX), down 1.1%. ALSO LOWER: Incyte (INCY), down 12.8% after announcing that it will halt the Phase 2 sub-study of ruxolitinib or placebo in combination with regorafenib after a planned interim analysis of the high CRP subgroup demonstrated that ruxolitinib plus regorafenib did not show a sufficient level of efficacy to warrant continuation.
18:58 EDTSSNLFSamsung to repurchase 2.99T won of shares in second phase of buyback
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18:49 EDTSSNLFSamsung reports Q4 net profit 3.24T won, consensus 5.4T won, Bloomberg reports
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18:00 EDTSSNLF, AAPL, GOOGFacebook executives pleased with China growth, hazy on Oculus launch
Speaking on the company's fourth quarter earnings conference call, Facebook (FB) Chief Executive Officer Mark Zuckerberg highlighted the company's more than 2.5M active advertisers as well as the growth of its Messenger and WhatsApp services, which have expanded to 800M and nearly 1B monthly users, respectively. More services will be coming soon to Messenger, Zuckerberg promised, including airline integration. The CEO noted he is "pleased" with initial consumer reaction to Samsung's (SSNLF) Gear VR virtual reality headset, though commentary on pre-orders for Facebook's own Oculus Rift device was notably light, with Zuckerberg saying only that the Oculus launch is "shaping up to be a big moment for the gaming community." Meanwhile, Chief Operating Officer Sheryl Sandberg said the company is pleased with the growth its seeing in emerging markets, including China, where businesses are using Facebook to reach customers internationally. The commentary comes in contrast to the downbeat macro view voiced during Apple's (AAPL) conference call Tuesday night. Globally, 98 of the quarter's top 100 Facebook advertisers also chose to market on Instagram, Sandberg said, adding that as businesses realize they need to catch up to consumer shifts towards mobile, she foresees a "big" opportunity to continue growing advertiser count. ANALYST TAKE: Piper Jaffray analyst Gene Munster issued a post-earnings note on Facebook, reiterating his Overweight rating and $155 price target on the social network giant in the wake of its strong beat. PRICE ACTION: Shares of Facebook have surged 12.8% to $106.60 in after-hours trading. Other members of the FANG stock grouping are also moving higher, with Amazon (AMZN), Netflix (NFLX) and Alphabet (GOOG) rising a respective 2.3%, 2.25% and 2.6%.
16:54 EDTGOOGGoogle, Movidius partner on 'deep learning' for mobile devices
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16:36 EDTAAPLOn The Fly: Top stock stories for Wednesday
Stocks began the session in negative territory as sliding oil prices and disappointing guidance from Apple (AAPL) and Boeing (BA) had investors on the defensive. The averages reversed and moved into positive territory following a rally in oil, which came despite the weekly Department of Energy inventory build up coming in higher than expected. The market pared its gains heading into the Fed's rate announcement and then moved sharply lower following the central banks comments about lower growth in U.S. in 2016. Other comments were less dovish than expected and the market sold off into the close. ECONOMIC EVENTS: In the U.S., new home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. The FOMC rate decision was issued at 2:00 pm, with the Federal Reserve keeping interest rates unchanged and commenting that the "Committee expects that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate... Inflation is expected to remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further." COMPANY NEWS: Apple (AAPL) declined $6.55, or 6.55% to $93.44 after the tech giant reported first quarter earnings that topped consensus estimates last night, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China... Apple was not the worst performer in the Dow, however, with that distinction going to Boeing (BA). Shares of the commercial airplane maker and defense contractor plummeted $11.43, or 8.93%, to $116.58 after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Shell (RDS.A, RDS.B) investors approved the company's proposed acquisition of BG Group (BRGYY), with roughly 83% of votes cast in favor of the deal. MAJOR MOVERS: Among the notable gainers was SunEdison (SUNE), which added 8.7% to its already meaningful gains over the past several days after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote. Also higher was Freeport McMoRan (FCX), which gained 10.95% to $4.66 after Indonesia's energy minister said he is "certain" of finding a solution to extend the company's copper export permit and as analysts applauded the company's decision to consider selling mining assets to pay down debt. Meanwhile, United Technologies (UTX), Biogen (BIIB) and Norfolk Southern (NSC) rose 0.19%, 5.15% and 1.44%, respectively, following their earnings reports. Among the noteworthy losers was DeVry (DV), which crashed 15.4% to $20.09 after the FTC filed suit over its allegedly deceptive marketing, with the Department of Education also announcing actions against the for-profit education company. Also lower were U.S. Steel (X), VMware (VMW) and Anthem (ANTM), which lost 14.35%, 9.82% and 4.74%, respectively, following their earnings reports. INDEXES: The Dow fell 222.77, or 1.38%, to 15,944.46, the Nasdaq lost 99.51, or 2.18%, to 4,468.17, and the S&P 500 declined 20.68, or 1.09%, to 1,882.95.
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