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Stock Market & Financial Investment News

News Breaks
April 17, 2014
09:59 EDTWTFC, RALY, MDW, FRC, BOFI, AA, SPLK, NFLX, HBHC, EFX, BWP, AKZOY, SCTY, NBG, GOGO, EIX, BAC, AEMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Agnico-Eagle (AEM) upgraded to Buy from Hold at Desjardins... AkzoNobel (AKZOY) upgraded to Neutral from Reduce at Nomura... Alcoa (AA) upgraded to Sector Perform from Underperform at RBC Capital... Bank of America (BAC) upgraded at Oppenheimer... Boardwalk Pipeline (BWP) upgraded to Overweight from Underweight at JPMorgan... BofI Holding (BOFI) upgraded to Buy from Neutral at Sterne Agee... Edison International (EIX) upgraded to Buy from Hold at Jefferies... Equifax (EFX) upgraded to Buy from Hold at Deutsche Bank... First Republic Bank (FRC) upgraded to Outperform from Market Perform at Fig Partners... Gogo (GOGO) upgraded to Overweight from Neutral at JPMorgan... Hancock Holding (HBHC) upgraded to Outperform from Market Perform at Raymond James... Midway Gold (MDW) upgraded to Speculative Buy from Hold at Canaccord... National Bank of Greece (NBG) upgraded to Neutral from Underweight at JPMorgan... Netflix (NFLX) upgraded to Outperform from Sector Perform at Pacific Crest... Rally Software (RALY) upgraded to Overweight from Neutral at Piper Jaffray... SolarCity (SCTY) upgraded to Outperform from Neutral at RW Baird... Splunk (SPLK) upgraded to Buy from Outperform at CLSA... Wintrust Financial (WTFC) upgraded to Buy from Neutral at DA Davidson.
News For AEM;AKZOY;AA;BAC;BWP;BOFI;EIX;EFX;FRC;GOGO;HBHC;MDW;NBG;NFLX;RALY;SCTY;SPLK;WTFC From The Last 14 Days
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February 1, 2016
13:42 EDTNFLXEarnings Watch: Alphabet to report Q4 results under new corporate structure
Alphabet (GOOG, GOOGL) is expected to report fourth quarter earnings after the market close on Monday, February 1 with a conference call scheduled for 4:30 pm ET. Alphabet is a multinational conglomerate that serves as the parent company of Google, Calico, GV, Google Capital, and Nest Labs. EXPECTATIONS: Analysts are looking for earnings per share of $8.09 on revenue of $20.77B. The consensus range is $7.32-$8.59 for EPS, and $20.33B-$21.68B for revenue, according to First Call. LAST QUARTER: Alphabet reported third quarter EPS of $7.35 against estimates of $7.21, on revenue of $18.7B against estimates of $18.53B. Google reported Q3 aggregate paid clicks up 23%, paid clicks on Google websites down 5%, aggregate cost-per-clicks down 11%, and cost-per-click on Google websites down 4%. The company also reported Q3 Sites revenue up 16% to $13.08B and Q3 Total advertising revenue up 13% to $26.78B. During its Q3 earnings report, the company said it will begin to disclose the Google business as a single segment in Q4. It also announced that the board authorized the company to repurchase $5.1B of Class C shares in Q4. GOOGLE SEGMENT: Alphabet announced that it will report Google as a single segment within its company beginning in Q4. It stated, "The new operating structure is being introduced in phases. For financial reporting purposes, we expect the reorganization will result in disclosing our Google business as a single segment and all other Alphabet businesses combined as Other Bets beginning in the fourth quarter of 2015." Within Alphabet, the Google segment now has 6 products with over 1B users, including Search, Maps, YouTube, Chrome, Android and Google Play. Gmail is also closing in on the mark with its 900M user base. RBC Capital believes that the disclosure of segment results by Google in conjunction with its Q4 results will cause the stock to rerate. The firm believes that the segment results will highlight the high profits of core Google, supporting an increase in the stocks' sum of the parts valuation. NEWS AND STREET RESEARCH: In the past quarter, Alphabet had a strong holiday season with ChannelAdvisor reporting Google Shopping was up 31.7% over the entire holiday period. Specifically, Google Shopping was up 35.9% on Thanksgiving, up 40.3% on Black Friday, up 25.7% on Cyber Saturday, and up 18.6% on Cyber Monday. Alphabet announced the redesigned launch of Google+ in November, the exploration of Fiber in Chicago and Los Angeles, and announced plans to open its first retail store in New York City. The company also targets the China launch of the Google Play app store in 2016, according to multiple reports. Lenovo (LNVGY) CEO Chen Xudong confirmed that Google Play is expected to come to China at some point this year. The company is expected to make its self-driving car company under the Alphabet structure as a stand-alone business. Ford (F) and Google are in discussions over self-driving cars, with the currently negotiated contract likely to "last a long time." According to a Reuters report, Google expects fewer software failiures in self-driving cars as it learns from its mistakes. Google tested solar-powered Internet drones and expects consumer package delivery via drone to begin in 2017. Google is also in talks with the NFL for streaming rights for London games next year. STREET RESEARCH: Oppenheimer said cloud providers like Alphabet may have a huge opportunity in the coming years. The firm said Alphabet may look for a major partner like Salesforce (CRM) to drive its cloud business. Cantor said Google ad revenue growth should continue to be strong and BMO Capital said Alphabet's outlook has improved as valuation has become more reasonable. Bernstein said the Street continues to underestimate the resilience and growth potential of Alphabet's search ad business and YouTube. Barron's, in particular, was extremely positive on YouTube, saying its revenue per viewer could potentially double in five years. It added it could be twice as valuable as Netflix (NFLX). JMP Securities was also bullish on the company, saying Alphabet benefitted from a relatively strong holiday season for online advertising. Ahead of its Q4 earnings report, JMP Securities expects the company to report "relatively strong" results. PRICE ACTION: Google shares have gained about 6% over the last three months. In Monday afternoon trading ahead of the Q4 report, Google shares are up almost 2%
11:14 EDTAA, NFLXStocks with call strike movement; NFLX AA
Netflix (NFLX) April 110 call option implied volatility increased 6% to 51, Alcoa (AA) April 8 call option implied volatility increased 4% to 50 according to iVolatility.
10:51 EDTBACActive calls; INTC CVS TWTR APC BAC
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09:44 EDTNFLXForbes contributor suggests Apple should buy Netflix
Forbes contributor Jay Somaney noted that Apple (AAPL) has recently been reported to be talking to TV producers and Hollywood studios about investing and developing original TV shows and he contends that "one way to circumvent the tedious and lengthy negotiations process with Hollywood and the networks" is for Apple to offer to buy out Netflix (NFLX). Reference Link
09:36 EDTAA, BAC, NFLXActive equity options trading on open
Active equity options trading on open: BAC AAPL FB AMZN TWTR MGM MCD NFLX GILD INTC TSLA AA BABA C
09:11 EDTNFLXDISH says releases Hopper 3 to customers nationwide
DISH Network (DISH) announced the availability of its award-winning Hopper 3 to customers nationwide. The third-generation of DISH's whole-home DVR system, Hopper 3 features 16 tuners, delivers an enhanced 4K experience and supports up to seven TVs simultaneously. In the coming weeks, Hopper 3 will launch the Netflix (NFLX) app and integrate Netflix titles into its universal search results.
09:04 EDTAAElliott Management: Alcoa 'taking the right steps'
Alcoa and affiliates of Elliott Management, which hold an economic interest in approximately 7.5% of Alcoa's common stock, have entered into an agreement that provides that Elliott will support the company's slate of director nominees at Alcoa's 2016 Annual Meeting of Shareholders.
09:03 EDTAAAlcoa names three new directors to board
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09:02 EDTAAAlcoa to appoint 3 new directors to board; Elliott to support slate of nominees
Alcoa announced that it will appoint Ulrich "Rick" Schmidt, John C. Plant and Sean O. Mahoney to serve on the company's Board of Directors, effective February 5, 2016. These appointments will further strengthen the company and add valuable aerospace and automotive experience to the Board as Alcoa prepares to separate into two independent companies in the second half of 2016. With these appointments, the Alcoa Board will be expanded to consist of 15 directors. In connection with this announcement, Alcoa and affiliates of Elliott Management, which hold an economic interest in approximately 7.5% of Alcoa's common stock, have entered into an agreement that provides that Elliott will support the company's slate of director nominees at Alcoa's 2016 Annual Meeting of Shareholders. Mahoney will be included with the company's slate of director nominees for election at the Company's 2016 Annual Meeting of Shareholders and will be added to the class of directors whose term expires in 2016. Schmidt and Plant will be added to the class of directors whose terms expire in 2017 and 2018, respectively. Dave Miller, Senior Portfolio Manager at Elliott Management said, "We believe the Company is taking the right steps as it moves forward with its separation. This is a pivotal moment for Alcoa and represents an opportunity to create substantial value for shareholders. We are pleased to have worked constructively with Alcoa and believe that Rick, John and Sean bring relevant experience to the Alcoa Board and the future Value-Add Co." As previously announced, Alcoa plans to separate into two, publicly traded companies in the second half of 2016. The Upstream company will comprise five strong business units that today make up Global Primary Products: Bauxite, Alumina, Aluminum, Cast Products and Energy; the innovation and technology-driven Value-Add company will include the Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions businesses. As the Company prepares to implement the separation, the Board of Directors will work closely with Alcoa's management team in a comprehensive review of its portfolio, operations, profitability drivers and cost structure, and will update the market at the appropriate time.
05:13 EDTSCTYSolarCity implied volatility of 117 at upper end of index mean range
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05:11 EDTNFLXNetflix announces Brahman Naman to premiere exclusively on Netflix
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January 31, 2016
20:43 EDTBACOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
20:11 EDTNFLXTime Warner, Hulu talks heat up over issue of current seasons, WSJ says
Time Warner's (TWX) negotiations to potentially buy into Hulu, a joint venture of Comcast (CMCSA, CMCSK), Fox (FOX, FOXA) and Disney (DIS), have been heating up lately over the issue of Hulu subscribers being able to view current-season TV shows, reports the Wall Street Journal, citing sources. Though the feature is a differentiator for Hulu when compared to Netflix (NFLX) and Amazon (AMZN), Time Warner believes the presence of full, current seasons contributes to cord cutting, the report says. Reference Link
12:33 EDTBACU.S. banks could return 20% or more, Barron's says
The banking sector looks like "one of the best bargains in the market," Barron's contends in a cover story. Names such as Citi (C), JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), BB&T (BBT), PNC Financial (PNC), SunTrust (STI) and U.S. Bancorp (USB) are showing healthy balance sheets and could offer "at least" 20% upside, the publication argues, adding that the industry's exposure to the energy sector "looks manageable" given information offered in recent earnings reports and conference calls. Reference Link
January 29, 2016
16:00 EDTBAC, NFLXOptions Update; January 29, 2016
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10:05 EDTBACOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Atlassian (TEAM) upgraded on positive outlook at JMP Securities... BRF S.A. (BRFS) upgraded to Buy from Hold at Deutsche Bank... Bank of America (BAC) upgraded to Outperform from Sell at CLSA... CEMEX (CX) upgraded to Buy from Hold at Jefferies... Chemical Financial (CHFC) upgraded to Outperform from Market Perform at Fig Partners... Computer Programs (CPSI) upgraded to Buy from Hold at Topeka... DST Systems (DST) upgraded to Outperform at Baird... Diamond Offshore (DO) upgraded to Neutral from Sell at Citi... First Cash Financial (FCFS) upgraded to Buy from Neutral at Janney Capital... First Merchants (FRME) upgraded to Overweight from Equal Weight at Stephens... Flex (FLEX) upgraded on solid results at Stifel... Intercept (ICPT) upgraded to Equal Weight from Underweight at Morgan Stanley... J.C. Penney (JCP) upgraded to Neutral from Underperform at Credit Suisse... JetBlue (JBLU) upgraded to Buy from Hold at Evercore ISI... Juniper (JNPR) upgraded to Outperform from Market Perform at Bernstein... Live Oak Bancshares (LOB) upgraded to Buy from Neutral at SunTrust... Microsemi (MSCC) upgraded to Outperform from Market Perform at Wells Fargo... NetSuite (N) upgraded to Buy from Hold at Canaccord... NextEra Energy (NEE) upgraded to Outperform at Baird... Oshkosh (OSK) upgraded to Buy from Neutral at SunTrust... PC Connection (PCCC) upgraded to Market Perform from Underperform at Raymond James... Pinnacle Financial (PNFP) upgraded to Overweight from Equal Weight at Stephens... Potash (POT) upgraded to Outperform from Sector Perform at Scotiabank... Rayonier (RYN) upgraded on valuation at BMO Capital... SanDisk (SNDK) upgraded to Buy from Hold at Needham... Select Comfort (SCSS) upgraded to Outperform from Neutral at Wedbush... Sotherly Hotels (SOHO) upgraded to Buy from Neutral at Janney Capital... Textura (TXTR) upgraded to Outperform from Market Perform at Northland... Valley National (VLY) upgraded to Buy from Hold at Sandler O'Neill.
08:43 EDTSCTYSolarCity and Sunrun to benefit from CPUC decision, says Morgan Stanley
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08:21 EDTBAC, BACBank of America upgraded to Outperform from Sell at CLSA
CLSA analyst Mike Mayo upgraded Bank of America two notches to Outperform from Sell and increased his price target to $16 from $15 on shares. Mayo is more positive on large U.S. banks, saying their stocks are at "recession prices" without a recession, and said Bank of America is more resilient and could grow book value even in a recession. The analyst, who thinks BofA's book value is relatively clean, said the stock could become event-driven, given "lousy efficiency" and a valuation 20% below estimated Q4 tangible book value.
07:48 EDTSCTYSolarCity to benefit from new California rule, says Stifel
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07:31 EDTBACBank, financial stocks look cheap, says Oppenheimer
After an index of bank stocks fell 19% since last summer, versus an 8% decline for the S&P, Oppenheimer says that "the group looks cheap." The firm says that banks' balance sheets will remain strong whether the economy is resilient or enters a downturn. The firm says that the banks' Q4 results were stable, and it expects the group to benefit from steady loan growth and slightly rising NIMs in 2016. Oppenheimer continues to recommend Bank of America (BAC), Citi (C), Goldman Sachs (GS), Discover (DFS), and Fifth Third (FITB)
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