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Stock Market & Financial Investment News

News Breaks
April 8, 2014
10:03 EDTKLAC, SRC, CSCO, AR, LPSN, QCOR, BANC, AEO, SINA, SWN, GIMO, BOKFOn The Fly: Analyst Downgrade Summary
American Eagle (AEO) downgraded to Neutral from Buy at Janney Capital... Antero Resources (AR) downgraded to Neutral from Buy at Citigroup... BOK Financial (BOKF) downgraded to Underperform from Market Perform at BMO Capital... Banc of California (BANC) downgraded to Market Perform at Raymond James... Cisco (CSCO) downgraded to Hold from Buy at Wunderlich... Gigamon (GIMO) downgraded to Sector Perform from Outperform at Pacific Crest... Questcor (QCOR) downgraded to Hold from Buy at Jefferies... Spirit Realty (SRC) downgraded to Equal Weight from Overweight at Morgan Stanley... Southwestern Energy (SWN) downgraded to Neutral from Buy at Citigroup... LivePerson (LPSN) downgraded to Hold from Buy at Benchmark Co.... KLA-Tencor (KLAC) downgraded to Sector Perform from Outperform at Pacific Crest... SINA (SINA) downgraded to Neutral from Buy at Mizuho.
News For AEO;AR;BOKF;BANC;CSCO;GIMO;QCOR;SRC;SWN;LPSN;KLAC;SINA From The Last 14 Days
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November 12, 2014
17:41 EDTCSCOCisco says managing the business 'very well' in tough environment
Says "very well positioned" for this year and beyond. Says "very comfortable" with growth trajectory. Says high end switching now a "tailwind." Says emerging markets and certain service providers "remain challenging." Says expects U.S. carriers to slow, and possibly pause, broadband build-out. Says committed to becoming the number one security company. Sees Q2 non-GAAP gross margin 61%-62% plus or minus 1%. Sees Q2 non-GAAP operating margin 27.5%-28.5%. Comments from company's Q1 earnings conference call.
16:47 EDTCSCOCisco sees Q2 revenue up 4%-7%, consensus $12.09B
16:38 EDTCSCOCisco sees Q2 adjusted EPS 50c-52c, consensus 53c
16:12 EDTCSCOCisco says Q1 was "strongest ever" in terms of revenue, non-GAAP EPS
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16:10 EDTCSCOCisco announces CFO transition, Frank Calderoni to step down
Frank Calderoni recently notified Cisco of his decision to step down as executive vice president and CFO of Cisco, effective January 1, 2015. Cisco plans to appoint Kelly A. Kramer to succeed Calderoni. She is currently senior vice president, Business Technology and Operations Finance of Cisco.
16:07 EDTCSCOCisco repurchased approximately 41M shares of common stock in Q1
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16:06 EDTCSCOCisco reports Q1 cash flow from operations $2.5B
Cash flows from operations were $2.5B for the first quarter of fiscal 2015, compared with $3.6B for the fourth quarter of fiscal 2014, and compared with $2.6B for the first quarter of fiscal 2014.
16:05 EDTCSCOCisco reports Q1 adjusted EPS 54c, consensus 53c
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15:29 EDTCSCONotable companies reporting after market close
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15:08 EDTCSCOEarnings Preview: Cisco reports amid analyst debate on break-up potential
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14:53 EDTSINASINA weekly volatility elevated into Q3 and outlook
SINA November weekly call option implied volatility is at 107, December is at 41, January is at 39; compared to its 26-week average of 46 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 13.
13:07 EDTCSCOPacific Crest remains cautious on Cisco
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11:55 EDTCSCOCisco November weekly 25 straddle priced for 4.4% move into Q1
11:51 EDTCSCOCisco technical comments before earnings
The stock has underperformed the broader averages in the past three months, falling over 1%. That lower performance would have been far worse if not for the recent uptrend off the mid-October lows. That rally helped to overcome the otherwise bearish head and shoulders that had developed on the daily chart and had completed at mid-October. In a long view, the current price action appears to put the shares either at a double top, or poised for a breakout that would results in four-year highs or more. The key level is at $26, not far from where the stock is currently trading. On better news or guidance, a move above $26 would seem highly probable and that would constitute a technical bullish breakout. Next resistance would be at $27.74 and then at $28.40. If the news is not as bullish as current price action suggests, the recent uptrend would probably be broken. It would only take a move below $24.50 for that to happen. Additional downside objectives might be at the following supports at $23.76, $22.43 and $21.94. A move down to or below $22 would confirm a major top was in place, which would have long-term bearish implications for price.
10:13 EDTCSCOEZchip expects revenue from Cisco to grow YoY in 2014
Comments taken from Q3 earnings conference call.
10:00 EDTAEOAmerican Eagle rises on raised Q3 guidance, levels to watch
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09:58 EDTCSCOCisco November volatility increases into Q1 and outlook
Cisco November weekly call option implied volatility is at 77, November is at 34, December is at 23, January is at 19, February is at 20; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q1 results after the market close on November 12.
08:03 EDTAEOAmerican Eagle raises Q3 adjusted EPS view to 22c from 17c-19c
Consensus is 18c. Including restructuring and asset impairment charges of (17c), GAAP earnings are estimated to be 5c per share. Last year, the company earned adjusted EPS of 19c in the third quarter, which excluded asset impairment charges of (6c). The earnings improvement over last year was primarily due to an improvement in markdowns and lower expenses. Third quarter net revenues declined slightly on a comparable sales decline of 5%. The EPS guidance excludes charges of approximately (17c) primarily due to store impairments and corporate overhead reductions related to the company’s profit improvement initiatives. These actions are expected to enable the company to fund key initiatives and generate savings to strengthen future earnings. “Third quarter earnings exceeded our expectations and margins were ahead of last year. We are encouraged by our ability to reduce promotional activity, particularly given the challenging and highly promotional retail climate,” said Jay Schottenstein, Interim CEO. “The team is making steady progress on merchandise improvements. Yet as we approach the holidays, we remain cautious given the ongoing weakness in mall traffic. The restructuring activities reflect our resolve to strengthen our business to deliver higher profitability and returns to shareholders.” Third quarter ending inventories are expected to be down, consistent with prior guidance.
07:28 EDTBANCBofA/Merrill to hold a conference
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06:00 EDTAEOAmerican Eagle implied volatility of 60 at upper end of index mean range
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