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Stock Market & Financial Investment News

News Breaks
January 25, 2013
10:07 EDTSKS, CHMT, WPRT, EBAY, SRPT, OMCL, STRZA, RHT, PKOH, MMC, FOR, BRO, BXP, BIOS, BMR, AON, AMZN, ACT, ACNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Accenture (ACN) initiated with an Overweight at Evercore... Actavis (ACT) initiated with an Overweight at Morgan Stanley... Amazon.com (AMZN) initiated with a Buy at ISI Group... Aon Corp. (AON) initiated with a Market Perform at Wells Fargo... BioMed Realty (BMR) initiated with a Neutral at Goldman... BioScrip (BIOS) initiated with a Buy at SunTrust... Boston Properties (BXP) initiated with an Overweight at Evercore... Brown & Brown (BRO) initiated with a Market Perform at Wells Fargo... Forestar Group (FOR) initiated with a Buy at DA Davidson... Marsh & McLennan (MMC) initiated with an Outperform at Wells Fargo... Park-Ohio (PKOH) initiated with an Outperform at Imperial Capital... Red Hat (RHT) initiated with an Outperform at Northland Securities... Starz (STRZA) initiated with a Sell at Stifel Nicolaus... Starz (STRZA) initiated with an Underweight at Evercore... Omnicell (OMCL) initiated with a Buy at Benchmark Co... Sarepta (SRPT) initiated with an Outperform at Cowen... eBay (EBAY) initiated with a Positive at Susquehanna... Westport Innovations (WPRT) initiated with a Market Perform at Raymond James... Chemtura (CHMT) initiated with a Buy at Sidoti... Saks (SKS) initiated with a Buy at Maxim.
News For ACN;ACT;AMZN;AON;BMR;BIOS;BXP;BRO;FOR;MMC;PKOH;RHT;STRZA;OMCL;SRPT;EBAY;WPRT;CHMT;SKS From The Last 14 Days
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October 16, 2014
14:42 EDTAMZN, EBAYeBay appears done with same-day delivery 'experiment,' Re/Code says
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12:29 EDTEBAYOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, though well off their worst levels. The market opened sharply lower following less than stellar quarterly reports from some of the country’s largest corporations and a number of in-focus "momentum" names such as Netflix (NFLX) and eBay (EBAY). The early drop extended the market’s recent declines and put the averages close to correction territory. The market moved off its lows after a regional Fed president, who'd recently been seen as hawkish, said in an interview that the central bank should consider delaying the end of quantitative easing and that it should be more data driven than time driven. The comments were attributed as the catalyst for a reversal that brought the averages all the way back to positive territory, though the market has once again drifted back into negative ground. ECONOMIC EVENTS: In the U.S., initial jobless claims decreased by 23K to 264K last week to hit their lowest level since April 2000. Industrial production rebounded 1.0% in September, beating expectations for a rise of 0.4% and pushing capacity utilization up to 79.3% from 78.7% previously. The Philadelphia Fed manufacturing index fell 1.8 points to 20.7 in October, which was not as low as the expected 19.9 reading. The NAHB homebuilder sentiment index fell 5 points to 54 in October, versus expectations for it to hold steady at 59. Also of significant note, St. Louis Fed President James Bullard, who is not a voting FOMC member though was quoted recently saying that a rate hike might be appropriate as soon as early next year, reversed course this morning and told Bloomberg in an interview that the Fed should consider delaying an end to its quantitative easing program. COMPANY NEWS: Shares of Netflix (NFLX) plunged 22% after the company provided lower than expected Q4 profit guidance and reported lower than expected subscriber data. The move after its earnings report last night also follows Time Warner's (TWX) announcement yesterday of plans for a standalone HBO online service and Piper Jaffray saying it believes CBS (CBS) will similarly launch an over-the-top Showtime offering next year... eBay (EBAY) shares slipped nearly 6% after the company missed revenue expectations for the third quarter and lowered its outlook for fiscal 2014. Following the report, analysts at both RBC Capital and CLSA downgraded the stock. MAJOR MOVERS: Among the notable gainers was Chesapeake Energy (CHK), which rose 17% after the company announced that it sold Marcellus and Utica shale assets to Southwestern Energy (SWN) for $5.375B. Shares of the buyer Southwestern, however, fell 8% after the deal announcement. Also lower was Extreme Networks (EXTR), which dropped almost 19% after cutting its first quarter outlook citing significant delays with its North American deals as well as headwinds in Europe. INDEXES: Near midday, the Dow was down 28.46, or 0.18%, to 16,113.28, the Nasdaq was down 16.16, or 0.38%, to 4,199.16, and the S&P 500 was down 2.08, or 0.11%, to 1,860.41.
12:11 EDTAMZN, EBAYeBay sinks after trimming fiscal 2014 revenue outlook
Shares of e-commerce company eBay (EBAY) are sinking after the firm missed revenue expectations for the third quarter and lowered its outlook for for fiscal 2014. The mid-point of its fourth quarter earnings per share, as well as its Q4 revenue guidance also fell below analysts' consensus estimates. WHAT'S NEW: Last night, eBay reported Q3 EPS of 68c and revenue of $4.35B, compared to consensus of 67c and $4.37B, respectively. For the quarter, Marketplaces segment toatl net revenue increased $129M from last year, Payments segment total net revenue increased $330M and Enterprise segment total net revenue increased $7M. In a filing, eBay said that it had no material operating expenses directly related to a cyberattack, but noted that the cyberattack did adversely affect its Marketplaces revenue in the quarter. The company said it is currently unclear whether any loss of customer trust resulting from the breach could negatively impact its Marketplaces segment's results of operations on an ongoing basis or "require us to increase promotional efforts to regain such trust." WHAT'S NOTABLE: Looking ahead, eBay forecast Q4 EPS of 88c-91c and revenue of $4.85B-$4.95B, versus consensus estimates of 91c and $5.16B, respectively. The company announced that FY14 EPS would come in at the low end of its previous guidance of $2.95-$3.00, compared to consensus of $2.97. eBay also lowered its FY14 revenue outlook to $17.85B-$17.95B from $18B-$18.3B, versus analysts' consensus estimates of $18.15B. eBay cited slower Marketplace growth and FX headwinds for the reduced guidance. eBay said PayPal is on track to process 1B mobile transactions in 2014 and that it expects the PayPal separation to be complete in 2H15. ANALYST REACTION: This morning, research firm RBC Capital downgraded eBay to Sector Perform from Outperform following the Q3 report, citing softness in Marketplaces and lower than expected Payments segment margins. The firm lowered its price target on the shares to $55 from $62. Another firm, Stifel, said eBay shares are approaching compelling levels. However, Stifel noted that it is reluctant to become more positive on the stock without more information about the PayPal spin off, potential cost structure changes after the spin and before the stabilization of current operating trends. Stifel kept a Hold rating on the shares. CLSA downgraded eBay to Underperform from Buy and lowered its price target to $52 from $66. The firm cited ongoing issues with Marketplaces, execution risks post split, diminishing PayPal competitive advantages and potential M&A barriers. PRICE ACTION: In intra day trading, eBay fell $3.13, or about 6.3%, to $47.10 on heavy trading volume. Including today's pull back, the shares have lost approximately 12% over the past 12 months. OTHERS TO WATCH: Other ecommerce companies include Amazon.com (AMZN), down 1.8%, and Mercadolibre (MELI), down 0.9%.
10:23 EDTAMZNAmazon.com breaks below $300, levels to watch
Shares have broken psychologically important support at $300, last at $299.59. At that price, next support is at $296.76. Resistance is at $305.01.
10:06 EDTEBAYThe Federal Trade Commission (FTC) to hold a conference
7th Annual Federal Trade Commision Microeconomics Conference is being held in Washington, D.C. on October 16-17.
10:01 EDTEBAYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Akamai (AKAM) downgraded to Market Perform from Outperform at Wells Fargo... CGG SA (CGG) downgraded to Reduce from Neutral at Nomura... Central Valley Community (CVCY) downgraded to Hold from Buy at Sandler O'Neill... DSM (RDSMY) downgraded to Neutral from Buy at Nomura... Disney (DIS) downgraded at Guggenheim... Francesca's (FRAN) downgraded to Underperform from Outperform at Macquarie... Netflix (NFLX) downgraded to Fair Value from Buy at CRT Capital... Nordstrom (JWN) downgraded to Neutral from Outperform at Macquarie... Norfolk Southern (NSC) downgraded at Credit Suisse... Rio Tinto (RIO) downgraded to Market Perform at Cowen... Seadrill (SDRL) downgraded to Reduce from Neutral at Nomura... Ternium (TX) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Neutral from Outperform at Macquarie... Viacom (VIAB) downgraded at BofA/Merrill... eBay (EBAY) downgraded to Underperform from Buy at CLSA... lululemon (LULU) downgraded to Underperform from Neutral at Macquarie.
09:23 EDTEBAYOn The Fly: Pre-market Movers
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08:41 EDTEBAY, EBAYeBay downgraded to Underperform from Buy at CLSA
CLSA downgraded eBay to Underperform to reflect ongoing issues with Marketplaces, execution risks post split, diminishing PayPal competitive advantages, and potential M& barriers. Price target lowered to $52 from $66.
08:08 EDTACTActavis confirms generic Quillivant XR patent challenge
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08:06 EDTAMZNAlmunia says political pressure around Google case 'unprecented,' WSJ reports
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08:02 EDTACTIronwood announces initiation of Phase II linaclotide trial
Ironwood Pharmaceuticals (IRWD) announced the initiation of a Phase II clinical trial evaluating linaclotide for the treatment of adults suffering from opioid-induced constipation. Data are expected in the second half of 2015. The clinical trial is being conducted jointly by Ironwood and Actavis plc (ACT), Ironwood’s co-development and co-promotion partner for linaclotide in the United States. Linaclotide is a guanylate cyclase-C agonist approved by the FDA for the treatment of adults with irritable bowel syndrome with constipation or chronic idiopathic constipation. Linaclotide is not currently approved for the treatment of OIC. The randomized, double-blind, placebo-controlled, multi-site Phase II clinical trial is expected to enroll approximately 240 adult patients with chronic, non-cancer pain who have been receiving a stable dose of an opioid analgesic and suffer from constipation, defined as fewer than three spontaneous bowel movements per week. Patients will be randomized to receive 145 mcg of linaclotide, 290 mcg of linaclotide, or placebo for eight weeks. The primary endpoint of the trial is an increase in SBM frequency. Additionally, a number of secondary endpoints and exploratory analyses intended to inform future development plans are included in the study design.
08:01 EDTRHTRed Hat, Cloudera announce alliance to deliver enterprise software solutions
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07:50 EDTEBAYeBay shares approaching compelling levels, says Stifel
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07:06 EDTEBAYeBay downgraded to Sector Perform from Outperform at RBC Capital
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07:01 EDTEBAYeBay price target lowered to $60 from $63 at Cantor
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05:22 EDTAMZNAmazon.com to add 80,000 seasonal jobs
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October 15, 2014
18:26 EDTAMZN, EBAYOn The Fly: After Hours Movers
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18:02 EDTEBAYeBay sees FY14 EPS at low end of $2.95-$3.00, consensus $2.97
Lowers FY14 revenue view to $17.85B-$17.95B from prior view $18B-$18.3B, consensus $18.15B.
17:38 EDTEBAYeBay sees PayPal separation complete in 2H15
17:16 EDTEBAYeBay says biggest driver to increased operating expenses was sales/marketing
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