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Stock Market & Financial Investment News

News Breaks
June 18, 2014
12:04 EDTCRM, ADBE, ORCL, ADSK, MSFTAdobe hits 52-week high after Q2 results top expectations
Shares of diversified software company Adobe Systems (ADBE) hit a fresh 52-week high after the company's second quarter results exceeded analysts' consensus estimates. In addition, several research firms also raised their respective price targets on the shares. WHAT'S NEW: Last night, Adobe reported Q2 earnings per share of 37c and revenue of $1.07B, topping analysts' consensus estimates of 30c and $1.03B, respectively. Looking ahead, the company forecast third quarter EPS of 22c-28c and revenue of $975M-$1.025B, compared to consensus estimates of 27c and $1.02B, respectively. The company expects to add approximately $250M of Digital Media ARR in the quarter, with with Digital Media segment revenue declining sequentially. Adobe is targeting Adobe Marketing Cloud revenue to grow approximately 20% year-over-year and expects combined revenue with LiveCycle and Connect to decline sequentially. The company is targeting Print and Publishing segment revenue to be relatively flat. WHAT'S NOTABLE: In the second half of fiscal 2014, Adobe expects Creative Cloud adoption to continue to accelerate and expects to add around 1M net new Creative Cloud subsriptions, with sequential growth in each quarter. By year-end, Adobe sees achieving approximately 3.3M creative cloud subscriptions, 300,000 higher than its prior target of approximately 3M. Adobe is targeting Digital Media ARR to grow sequentially in Q4 to a total of $1.925B exiting the year, an increase over its prior annual target of $1.85B. ANALYST REACTION: This morning, four separate research firms -- Citigroup, UBS, RBC Capital, and RW Baird -- each raised their respective price targets on Adobe following its stronger than expected Q2 results. PRICE ACTION: In early afternoon trading, Adobe rose $5.13, or about 7.6%, to $72.67 on nearly twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $74.69. Including today's advance, the stock is up approximately 68% over the past 12 months. OTHERS TO WATCH: Microsoft (MSFT) is down almost 1% this afternoon and Salesforce.com (CRM) is down almost 1.5%. Meanwhile, Autodesk (ADSK) is up nearly 4% and Oracle (ORCL) is up almost 0.5%.
News For ADBE;MSFT;ORCL;CRM;ADSK From The Last 14 Days
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March 13, 2015
18:23 EDTCRMSalesforce.com CEO Benioff: Mobile data management a 'huge new area'
Marc Benioff is speaking on CNBC.
18:22 EDTCRMSalesforce.com CEO Benioff: Analytics cloud can run on Apple watch
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10:34 EDTMSFTApple joins data center group with Facebook, Microsoft, The Information says
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09:50 EDTCRMActive equity options trading on open
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09:33 EDTADBEAdobe upgraded to Positive from Mixed at OTR Global
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08:17 EDTMSFTMicrosoft price target lowered to $48 from $58 at Pacific Crest
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07:49 EDTMSFTVideo game hardware sales up 10% in February, software up 7%, Game Informer says
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06:04 EDTORCLOracle implied volatility of 28 at upper end of index mean range
05:54 EDTMSFTIDC: Worldwide tablet long term growth in low single digits, Digitimes says
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March 12, 2015
16:25 EDTMSFTOn The Fly: Closing Wrap
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15:56 EDTMSFTIDC lowers PC outlook for 2015, says long-term outlook slightly improved
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14:42 EDTMSFTMicrosoft reiterated as an Underperform following Intel warning at BofA/Merrill
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14:39 EDTMSFTMicrosoft hits session lows following Intel warning, levels to watch
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14:21 EDTADBEAdobe March volatility elevated at 47 into Q1 and outlook
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13:06 EDTMSFTHP rises fractionally despite Barclays downgrade, Intel guidance cut
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12:29 EDTMSFTOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday. A slight bounce in the euro overnight lifted overseas markets and U.S. stocks followed. Stock futures were higher during early pre-market trading, then strengthened further following the report of lower than expected retail sales figures for last month, which gave investors hope the Fed will wait longer to raise interest rates. ECONOMIC EVENTS: In the U.S., headline retail sales fell 0.6% in February compared to the prior month, missing expectations for an increase of 0.3%. Retail sales excluding autos and gas declined 0.2%, versus the consensus estimate for a month-over-month increase of 0.3%. Initial jobless claims fell to 289K in the week ended March 7, versus the consensus forecast for 305K first-time claims. Business inventories were flat in January, versus the consensus forecast for them to grow 0.1%. In Asia, the Bank of Korea cut rates for the third time since last August, lowering its base rate to the historical low level of 1.75%. The decision came as a surprise, more in terms of the timing than the cut itself. Data from China showed the nationís M2 money supply growth picked up in February and its banksí new loan creation came in higher than expected as well. COMPANY NEWS: Shares of Intel (INTC) fell 4% after the chip-making giant lowered its Q1 revenue outlook to $12.8B, plus or minus $300M, compared to the previous expectation of $13.7B, plus or minus $500M, citing weaker than expected demand for business desktop PCs and lower than expected inventory levels across the PC supply chain. Some other stocks levered to PCs also slid, with Microsoft (MSFT) declining 2% and Advanced Micro Devices (AMD) sliding 3.5%. Hewlett-Packard (HPQ) shares were up fractionally, despite Intel's news and the fact that Barclays downgraded HP's stock this morning to Equal Weight, saying the weak euro could impact demand for PCs and printers... Citi (C), American Express (AXP) and Regions Financial (RF) were identified by analysts as being among the winners following the Fed's recently completed Comprehensive Capital Analysis and Review, or CCAR. Analysts were more cautious on Bank of America (BAC), after the Fed identified deficiencies in the bank's capital planning process and ordered it to resubmit its plan, but allowed it to proceed with its capital plan in the meantime. MAJOR MOVERS: Among the notable gainers was Amarin (AMRN), which jumped 27% after H.C. Wainwright upgraded the stock to Buy and raised its price target for shares to $10 from $2.50, citing management's commitment to completing the Vascepa outcomes' study REDUCE-IT. Also higher was Lumber Liquidators (LL), which rose 12.5% after the company held a call to update on the impact that 60 Minutes' recent critical report has had on its business. As part of the call, the flooring retailer reported on its recent sales trends, gave Q1 guidance and said it believes its cash flow from operations and existing liquidity sources will be sufficient to fund operations and anticipated capital expenditures for the "foreseeable future." Among the noteworthy losers was ACADIA (ACAD), which dropped 25% after announcing that it will delay submitting its NUPLAZID NDA for the treatment of Parkinsonís disease psychosis by two or three quarters and reporting that its CEO has retired. Also lower following their first earnings reports since coming public was Box, Inc. (BOX), which dropped 15%. INDEXES: Near midday, the Dow was up 183.31, or 1.04%, to 17,818.70, the Nasdaq was up 26.68, or 0.55%, to 4,876.62, and the S&P 500 was up 18.56, or 0.91%, to 2,058.80.
09:35 EDTMSFTActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL C PBR POT MRVL AMAT MSFT TSLA X TWTR
09:04 EDTMSFTMicrosoft drops after Intel cuts Q1 revenue outlook on PC weakness
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07:51 EDTMSFTAlibaba hiring for cloud computing in Seattle, Silicon Valley, Reuters says
Alibaba (BABA) has begun hiring cloud computing professionals in Seattle and Silicon Valley, reports Reuters, citing postings on LinkedIn. Reuters notes that recruiters in the region suggested Alibaba is "eyeing staff," particularly developers, at Amazon (AMZN), Microsoft (MSFT), and Facebook (FB). According to LinkedIn data, Alibaba has already hired 20 former Microsoft employees. Reference Link
07:19 EDTMSFTUBS to hold a conference
U.S. Software Conference is being held in New York on March 12.
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