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Stock Market & Financial Investment News

News Breaks
April 7, 2014
10:00 EDTAGIO, RNST, SEM, UPL, UA, HTGC, SPF, YELP, NFLX, PBF, NEM, LII, AA, ALGN, ADI, BGS, INTC, C, JBLU, KND, POn The Fly: Analyst Upgrade Summary
Agios Pharmaceuticals (AGIO) upgraded to Overweight from Neutral at JPMorgan... Alcoa (AA) upgraded to Hold from Sell at Deutsche Bank... Align Technology (ALGN) upgraded to Outperform from Market Perform at Barrington... Analog Devices (ADI) upgraded to Neutral from Sell at Goldman... B&G Foods (BGS) upgraded to Outperform from Sector Perform at RBC Capital... Citigroup (C) upgraded to Neutral from Underweight at HSBC... Intel (INTC) upgraded to Outperform from Sector Perform at Pacific Crest... JetBlue (JBLU) upgraded to Neutral from Sell at Goldman... Kindred Healthcare (KND) upgraded to Outperform from Sector Perform at RBC Capital... Lennox (LII) upgraded to Outperform from Market Perform at Wells Fargo... Newmont Mining (NEM) upgraded to Hold from Sell at Deutsche Bank... PBF Energy (PBF) upgraded to Buy from Neutral at Citigroup... Renasant (RNST) upgraded to Outperform from Market Perform at Raymond James... Select Medical (SEM) upgraded to Outperform from Sector Perform at RBC Capital... Ultra Petroleum (UPL) upgraded to Outperform from Market Perform at Raymond James... Under Armour (UA) upgraded to Buy from Neutral at Sterne Agee... Hercules Technology (HTGC) upgraded to Buy from Hold at Sandler ONeill... Standard Pacific (SPF) upgraded to Outperform from Market Perform at Raymond James... Yelp (YELP) upgraded to Outperform from Perform at Oppenheimer... Netflix (NFLX) upgraded to Outperform from Perform at Oppenheimer... Pandora (P) upgraded to Outperform from Neutral at Wedbush.
News For AGIO;AA;ALGN;ADI;BGS;INTC;C;JBLU;KND;LII;NEM;PBF;RNST;SEM;UPL;UA;HTGC;SPF;YELP;NFLX;P From The Last 14 Days
Check below for free stories on AGIO;AA;ALGN;ADI;BGS;INTC;C;JBLU;KND;LII;NEM;PBF;RNST;SEM;UPL;UA;HTGC;SPF;YELP;NFLX;P the last two weeks.
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July 15, 2014
16:06 EDTINTCIntel sees FY14 revenue growth approximately 5%, consensus $54.55B
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16:04 EDTINTCIntel sees Q3 revenue $14.4B, plus or minus $500M, consensus $14.02B
Sees Q3 gross margin 66%, plus or minus a couple of percentage points.
16:03 EDTINTCIntel reports Q2 EPS 55c, consensus 52c
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15:27 EDTRNST, INTCNotable companies reporting after market close
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14:48 EDTCCitigroup reports June credit loss 2.33% vs. 2.40% last month
Reports June delinquencies 1.43% vs. 1.46% last month.
12:55 EDTINTCEarnings Preview: Intel up over 12% since pre-announcement
Intel (INTC) is expected to report second quarter earnings after the close on Tuesday, July 15, with a conference call scheduled for 5:00 pm ET. Intel is a global semiconductor manufacturer and a member of the Dow Jones Industrial Average. EXPECTATIONS: Analysts are looking for earnings per share of 52c on revenue of $13.69B. The consensus range is 45c-55c for EPS on revenue of $13.0B-$14.0B, according to First Call. Along with its first quarter report, Intel said it saw Q2 revenue of $13B, plus or minus $500M, compared to consensus at that time of $12.96B. Intel said then that it had expected its fiscal year 2014 revenue to be approximately flat, compared to consensus at that time of $53.15B. Subsequently, on June 12, Intel raised its Q2 revenue forecast to be $13.7B, plus or minus $300M, citing stronger than expected demand for business PCs. Intel added that it now expects some revenue growth for the year and that its full-year gross margin percentage is now expected to be in the upper half of the previous range of 61%, plus or minus a few percentage points, driven mostly by expected improvements in unit cost and volume. LAST QUARTER: Intel reported Q1 EPS of 38c, compared to consensus expectations at that time of 37c. The company's revenue of $12.8B was generally in-line with the consensus forecast. For the quarter, the company's gross margin came in at 59.7%. STREET RESEARCH: On the day after Intel made its positive pre-announcement, its stock was upgraded by several research firms. At that time, Morgan Stanley upgraded the shares to Equal Weight from Underweight, Roth Capital raised its rating to Buy from Neutral, and Drexel Hamilton upped its rating to Buy from Hold. Several firms also increased their price targets on Intel, with Jefferies raising its price target for Intel to $40 from $35 and Pacific Crest taking its target up to $35 from $32. Last night, coverage of Intel was initiated at Imperial Capital, which placed an Outperform rating and $37 target on the stock. NEWS: After eight quarters of declining shipments, worldwide PC shipments experienced flat growth in the second quarter of 2014, Gartner reported recently. Worldwide PC shipments totaled 75.8M units in the quarter, a 0.1% increase from the same quarter of 2013, according to Gartner. Another research firm, International Data Corporation, estimated that worldwide PC shipments totaled 74.4M units in the second quarter, marking a year-on-year decline of 1.7%. In company specific news, a July 9 report from MacRumors, citing Chinese site VR Zone, claimed that Intel has decided to further postpone the shipping of its line of 14-nanometer Broadwell chips, which are anticipated to be included in future versions of the Apple's (AAPL) MacBook Air, Retina MacBook Pro, and iMac. A report two days later from DigiTimes said that Intel is set to unveil its 14nm processors and 10nm wafers at its Developer Forum in San Francisco, citing sources from the upstream supply chain. According to the report, Intel will release the 14nm Core M-series processors in Q4 and 14nm Broadwell-based processors in January 2015. In June, The Wall Street Journal reported that Intel announced plans to package its standard server processors alongside a different class of programmable chip in a combination that includes an FPGA, or field programmable gate array. The Journal noted that FPGAs have been sold for years by Xilinx (XLNX) and Altera (ALTR), but that the general manager of Intelís data center group, Diane Bryant, declined to disclose Intelís partner on the latest effort or when the resulting products would hit the market. PRICE ACTION: Since the day after its earnings pre-announcement, Intel shares have risen over 12% and its stock is up more than 17% over the last three months. In afternoon trading ahead of tonight's report, Intel was trading near flat at $31.53.
10:56 EDTYELPFed calls small cap social media, biotech valuations 'stretched'
The Board of Governors of the Federal Reserve in its Monetary Policy Report dated today said valuation metrics in "some sectors" appear substantially stretched, "particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year." A later part in the document reads, "Equity valuations of smaller firms as well as social media and biotechnology firms appear to be stretched, with ratios of prices to forward earnings remaining high relative to historical norms." The specific targeting of sectors by the Fed seems to be having an impact on stocks in the social media and biotech spaces. Shares of Yelp (YELP) are down over 5% to $67.51, while Twitter (TWTR) and Facebook (FB) are each down 2%. Celgene (CELG) and Amgen (AMGN) are leading the biotech space lower with pullbacks of greater than 1%.
10:37 EDTC, AAOptions with decreasing implied volatility
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10:13 EDTPPandora calls active on renewed takeover chatter
Pandora July 25.5 and 28 calls are active on total call volume of 6,800 contracts (400 puts) on renewed takeover chatter. July call option implied volatility is at 64, August is at 67, September is at 61; compared to its 26-week average of 55 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
10:04 EDTPPandora spikes higher, testing resistance
The shares have spiked higher in the last five minutes off the low of the day, currently at $26.71. Traders may push to test resistance at yesterday's high at $27.19. Support is at $26.40, the prior session low.
10:00 EDTINTCOn The Fly: Analyst Initiation Summary
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09:58 EDTPRumor: Pandora moves up on renewed takeover chatter
08:49 EDTUPLUltra Petroleum announces resignation of CFO and succession plan
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08:03 EDTNFLXPublic speak out on FCC 'net-neutrality' plan, WSJ says
The Federal Communications Commission's has received more than 677K comments so far from the public on its proposed 'net-neutrality' rules for how broadband providers can treat content traveling over their networks and a random sampling of the input suggests that the agency will have work to do to sell the plan, according to The Wall Street Journal. Companies that provide broadband Internet service include Comcast (CMCSA), AT&T (T), Verizon (VZ) Time Warner Cable (TWC), and Cablevision (CVC). Netflix (NFLX) sends a great deal of content over the Internet and strongly supports net neutrality. Reference Link
07:43 EDTCCitigroup successfully executing plan, says RBC Capital
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07:37 EDTCAmerican Enterprise Institute holds a discussion
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07:34 EDTCCitigroup shares cheap on valuation, says UBS
UBS views Citigroup shares as cheap and does not expect them to trade below tangible book value indefinitely. The firm sees earnings stabilization, better than expected trading results, strong loan growth, and valuation as reasons to maintain its Buy rating and raise its price target on Citigroup shares to $61 from $60.
07:33 EDTINTCIntel July 31.5 straddle priced for 3% move into Q2
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07:23 EDTINTCFortune to hold a conference
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06:30 EDTPDOJ investigating music publishing, possible price coordination, WSJ reports
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