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February 27, 2014
09:35 EDTFSLR, BIDU, GOOG, VZ, TSLA, JCP, KMP, AAPLActive equity options trading on open according
Active equity options trading on open according to Track Data: AAPL TSLA BIDU KMP VZ FSLR TGB JCP GOOG MCD
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November 11, 2015
15:33 EDTAAPLPayPal dips after report of Apple woking on payment service
Shares Paypal (PYPL) are down 1.7% following a Dow Jones report that says Apple (AAPL) is working on a mobile person-to-person payment service that could challenge Paypal's Venmo.
15:31 EDTAAPLApple in talks with banks on mobile person-to-person payment sevice, DJ says
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14:51 EDTAAPLApple CEO Cook vows to stay in Ireland regardless of tax verdict, RTE says
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14:31 EDTGOOGAlphabet Inc volatility near historic low as shares trend to record high
Alphabet Inc (GOOG) November weekly call option implied volatility is at 18, November and December is at 19; compared to its 52-week range of 17 to 42, suggesting decreasing price risk as shares trend to record high.
12:56 EDTJCPOptions with increasing call volume
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12:23 EDTBIDUPerfect World said in talks to buy reading arm from Baidu, Bloomberg reports
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12:17 EDTJCPOn The Fly: Top stock stories at midday
Stocks on Wall Street were slightly higher at midday following a morning of lackluster trading, which may be due to lower volume on account of the observance of Veteran's Day. There were four initial public offerings that priced and each opened above their offering; a better reflection of the syndicate market than several weeks ago when deals could not be completed. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet with no major announcements. U.S. bond markets are closed in observance of Veteran's Day. In China, industrial output rose 5.6% in October, matching March's reading as the weakest since 2008. Retail sales climbed 11% last month, beating expectations. COMPANY NEWS: In another sign of China's transition from a purely industrial economy to one driven more by consumption, Alibaba Group (BABA)reported blockbuster sales for the 11.11 shopping festival, better known as "Singles' Day." By the end of Wednesday in China, gross merchandise volume on Alibaba's platforms hit $14.3B, far exceeding last year's 24-hour total of $9.3B, but shares of the Chinese e-commerce giant trading in New York slid 2%... Shares of Macy's (M) plunged over 13.5% and its peers followed it lower after the department store operator cut its outlook for fiscal year 2015 after reporting third quarter revenue that missed analysts' estimates. Macy's also said it will not be pursuing the formation of a real estate investment trust. Conversely, J.C. Penney (JCP) reported stronger than expected same-store sale growth and previewed that its soon-to-be reported earnings and gross margin performance in the third quarter exceeded its expectations, but the stock was caught in Macy's downdraft, falling about 2.5%... The boards of Anheuser-Busch InBev (BUD) and SABMiller (SBMRY) announced that they have reached agreement on the terms of a combination deal worth $107B. In relation to their deal, Molson Coors (TAP) entered into a definitive agreement to purchase SABMiller's (SBMRY) 58% stake in MillerCoors, the joint venture formed in the United States in 2008, in a transaction valued at $12B. MAJOR MOVERS: Among the notable gainers was Atmel (ATML), which rallied 4% after Dialog Semiconductor (DLGNF) said that it continues to "strongly" support its agreement to acquire Atmel. Also higher was Amazon (AMZN), which gained 2% after an analyst at Morgan Stanley raised his price target on the company's stock to $800 from $750M, citing the growing AWS opportunity. Among the noteworthy losers was Horizon Pharma (HZNP), which fell over 16% after Express Scripts (ESRX) cut ties with specialty pharmacy Linden Care, which is used by Horizon and Insys Therapeutics (INSY), which also dropped 9%. Also lower was SunEdison (SUNE), which lost another 14.5%, adding more losses to yesterday's post-earnings slide after UBS cut its price target on the company's shares to $6 from $9. In addition, Anadarko (APC) and Apache (APA) fell about 3.5% and 6%, respectively, after Anadarko confirmed that it sent a takeover proposal to Apache, which it later withdrew. INDEXES: Near midday, the Dow was up 3.87, or 0.02%, to 17,762.08, the Nasdaq was up 14.42, or 0.28%, to 5,097.66, and the S&P 500 was up 0.78, or 0.04%, to 2,082.50.
11:31 EDTFSLRSunEdison sinks after UBS cuts price target to $6
Shares of SunEdison (SUNE) are selling off for a second straight day after UBS cut its price target on the stock to $6. The seller of photovoltaic energy solutions declined yesterday after reporting a larger than expected quarterly loss. UBS analyst Julien Dumoulin-Smith attributed the post-earnings share selloff to "five key factors," including lower than expected margins on retained projects, management's confidence on the pending Vivint Solar (VSLR) acquisition while a renegotiation of the deal would be perceived positively, and LAP Holdings seeking no less than $150M in damages after SunEdison cancelled its acquisition of the Latin America hydropower and wind development maintenance company. Dumoulin-Smith cut his price target for SunEdison this morning to $6 from $9 and kept a Neutral rating on the name. SunEdison is down 15%, or 88c, to $4.89 in late morning trading. Following the stock lower are peers SolarCity (SCTY), SunPower (SPWR) and First Solar (FSLR).
11:11 EDTJCPMacy's tanks after 'disappointing' Q3 report, drags down retail peers
Shares of Macy's (M) and its department store peers are plunging this morning after the retailer cut its outlook for fiscal year 2015 after reporting third quarter revenue that missed analysts' estimates. Macy's also said it will not be pursuing the formation of a real estate investment trust. TEPID SPENDING AT MACY'S: This morning, Macy's reported Q3 earnings per share of 56c excluding items, beating analysts' consensus estimates of 54c, on revenue of $5.87B, missing estimates of $6.09B. Including asset impairment charges primarily related to the previously-announced plans to close 35 to 40 stores in early 2016, EPS for the quarter was 36c. Comparable sales on an owned plus licensed basis were down by 3.6% in the quarter, with SSS down 3.9% on an owned basis. Terry Lundgren, Macy's chairman and chief executive officer, said the company is "disappointed" that the pace of sales did not improve as expected in Q3, noting that spending by U.S. customers was "tepid." Looking ahead, the company forecast fourth quarter EPS of $2.54-$2.64, well below analysts' consensus estimates of $2.90, and forecast SSS on an owned plus licensed basis down 2%-3%. Macy's also cut its FY15 EPS view to $4.20-$4.30 excluding charges from $4.70-$4.80, also well below estimates calling for $4.65, with total sales down 2.7%-3.1%, compared to previous guidance of down about 1%. Macy's now sees FY15 SSS on an owned plus licensed basis down by 1.8% to 2.2%, compared with previous guidance of approximately flat. WHAT'S NOTABLE: Macy's said in its earnings release that it has decided not to pursue the formation of a REIT at this time, but will consider redeveloping some of its flagship properties through joint ventures or other deals. Macy's said it has engaged Tishman Speyer to advise the company's senior management in identifying and advancing potential store redevelopment projects in the U.S. Activist investor Starboard Value had urged Macy's earlier this year to consider spinning off its real estate assets. Macy's said on its earnings conference call that it studied the formation of a REIT, but ultimately said there was "not enough value" to be created from the establishment of one. Macy's also announced this morning that it will reduce capital spending to less than $1B in 2016 from the $1.2B it expects to spend in 2015. Further, Macy's said it will roll out 50 free-standing Macy's Backstage stores in off-mall locations and, in spring 2016, will add Backstage stores within up to 10 existing Macy's stores. Macy's also plans to open about 40 more Bluemercury self-standing beauty specialty stores. The company also said it had signed an agreement with Luxottica Group (LUX) to open licensed LensCrafters shops in as many as 500 Macy's stores over the next three years. PENNEY: J.C. Penney reported stronger than expected SSS growth of 6.4% for Q3. Chief Executive Officer Marvin Ellison said that the company's Q3 EPS and gross margin performance "exceeded our expectations." J.C. Penney is set to report quarterly results on Friday morning. Separately, the retailer also announced the settlement of a class action lawsuit alleging false advertising. The company will make $50M in cash available for claims under the terms of the settlement. PRICE ACTION: Macy's is sliding 13% to $40.82 and J.C. Penney is down about 3% to $8.43. OTHERS TO WATCH: Kohl's (KSS), which will report quarterly earnings tomorrow morning, is down 6.5% and Nordstrom (JWN) is down 4.4%.
09:38 EDTAAPLApple slides lower, levels to watch
The stock was last at $116, down fractionally on the day so far but suggesting a test at $115 is possible. That level has been important support in the past. Below it, support the next key level is at the $105 area. There is still a potential bearish head and shoulders pattern on the long-term chart that would trigger below that point. Resistance is at yesterday's closing price at $116.77.
09:38 EDTAAPL, JCPActive equity options trading on open
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09:28 EDTJCPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: AlarmCom (ALRM), up 13.3%... Full House Resorts (FLL), up 7.4%. ALSO HIGHER: J.C. Penney (JCP), up 3.2% after reporting third quarter Same-Store Sales up 6.4%... Amira Nature Foods (ANFI), up 32.2% after an independent review found that allegations against the company are unsubstantiated... Intrexon (XON), up 1.9% after being upgraded to Neutral from Underperform at Mizuho. DOWN AFTER EARNINGS: Boot Barn (BOOT), down 16.6%... Westport Innovations (WPRT), down 12.8%... Macy's (M), down 9.8%. ALSO LOWER: Horizon Pharma (HZNP), down 14.3% following a lawsuit and allegations by Express Scripts (ESRX)... AmTrust Financial (AFSI), down 5.5% after 5M share Secondary priced at $64.00... Premier (PINC), down 1.6% after 4.03M share Spot Secondary priced at $34.50.
08:25 EDTGOOGFederal claims dismissal in Google browser tracking suit upheld, Reuters reports
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06:38 EDTJCPJ.C. Penney reports Q3 SSS up 6.4%
CEO Marvin Ellison stated that the company's Q3 gross margin and EPS performance "exceeded our expectations". The company will release its Q3 financial results on Friday, November 13, at 7:30 a.m. ET.
06:36 EDTJCPJ.C. Penney to pay $50M in class action lawsuit settlement
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06:34 EDTAAPLApple acquired 15 firms in past year, 6 unknown, AppleInsider reports
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06:27 EDTAAPLApple to hire an additional 1,000 staff in Ireland, Reuters reports
Apple is set to add 1,000 jobs in Ireland, Reuters reports, citing comments made by Irish jobs minister Richard Burton. The jobs are expected to be added at Apple's base in Cork. Reference Link
06:24 EDTTSLANissan testing driverless cars in Japan, Business Insider reports
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06:21 EDTAAPLApple Music available for Android, BuzzFeed News reports
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06:19 EDTGOOGAppNexus talks to Goldman, other banks about IPO plans, Business Insider reports
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