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Stock Market & Financial Investment News

News Breaks
May 4, 2012
12:46 EDTBODY, LF, ROVI, MSFT, DLB, CF, WRC, SWN, CFN, AIG, LNKDOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday following the disappointing non-farm payrolls report. Stock futures weakened after the worse than expected data, leading to a sharply lower open for the broader market. Earlier in the week the averages had hit fresh recovery highs on positive ISM data but investor’s confidence was clearly shaken by the weak employment numbers. The Nasdaq continues to be the weakest index, down more than 2% for the session... ECONOMIC EVENTS: In the U.S., employers added fewer workers than forecast in April and the jobless rate unexpectedly declined as people left the labor force. The Labor Department said 115,000 jobs were added, the smallest gain in six months, missing analysts' calls 160,000 additions. The unemployment rate, however, fell to 8.1%... COMPANY NEWS: Insurer American International Group (AIG) reported earnings that beat estimates but its stock slid almost 4% during today's session after rising fairly steadily during the past week. Among other companies reporting earnings, advancers included LinkedIn (LNKD) and CareFusion (CFN); decliners included Southwestern Energy (SWN), Warnaco (WRC) and CF Industries (CF)... MAJOR MOVERS: Among the notable gainers were Dolby Labs (DLB), up 19%, after its earnings beat consensus and it announced a new partnership with Microsoft (MSFT), and LeapFrog (LF), up 15%, after its quarterly losses were not as steep as expected and its guidance exceeded expectations. Noteworthy losers included Body Central (BODY), down 44%, after downgrades from at least three firms following its results and guidance, and Rovi (ROVI), down over 6%, after reporting in line earnings and backing its full year guidance but also announcing the departure of its CFO... INDICES: Near 12:40 pm ET, the Dow was down 179.10, or 1.36%, to 13,027.49; the Nasdaq was down 63.09, or 2.09%, to 2,961.21; and the S&P 500 was down 22.85, or 1.64%, to 1,368.72.
News For AIG;LNKD;CFN;SWN;WRC;CF;DLB;MSFT;LF;BODY;ROVI From The Last 14 Days
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July 17, 2015
06:46 EDTLNKDJPMorgan puts $800 target on Google after 'thesis-changing' Q2
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06:18 EDTROVINegative catalysts now behind Rovi, says Brean Capital
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July 16, 2015
13:11 EDTMSFTMicrosoft July weekly volatility elevated into Q4 and outlook
Microsoft July weekly call option implied volatility is at 36, August is at 27, September is at 20 compared to its 52-week range of 15 to 29, suggesting large near term price movement into the expected release of Q4 results on July 21.
12:12 EDTROVIOn The Fly: Top stock stories at midday
Stocks began the session in positive territory after Greece's Parliament approved austerity measures that should pave the way for the country to receive a new bailout package. With earnings season gaining steam and the situations in Greece and China appearing more stable in recent days, the S&P and Nasdaq are back within striking distance of their all-time highs. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped to 281,000 in the week ended July 11, versus expectations for 285,000 first-time claims. The NAHB homebuilder sentiment index for July came in at 60, a point better than forecast. The Philly Fed business outlook index dropped 9.5 points to 5.7 in July, falling short of the 12.0 reading that was expected. In Europe, Greek lawmakers passed the country's austerity agreement and Euro-area finance ministers also reportedly agreed in principle to extend a $7.6B bridge loan to Greece. The loan, which will come from the European Financial Stabilization Mechanism, should help keep Greece afloat while Prime Minister Alexis Tsipras negotiates the details of the country's three-year bailout. COMPANY NEWS: Netflix (NFLX) rallied 16% and hit a split-adjusted all-time high of $114.45 per share after the streaming service operator reported stronger than expected second quarter results, including higher than expected Q2 subscriber metrics, prompting a large number of research firms to raise their price targets on the stock... The third-largest U.S. bank, Citigroup (C), posted second quarter profit, excluding adjustments and one-time items, of $1.45 per share, beating the $1.34 average estimate of analysts. Goldman Sachs (GS) reported Q2 earnings per share of $1.98, which fell far short of the consensus forecast of $3.89. However, the firm recorded $1.45B in net provisions for litigation and regulatory matters, which reduced EPS for the quarter by $2.77. Goldman Chairman and CEO Lloyd Blankfein said the bank was "pleased" with its quarterly performance, adding that while "uncertainty in the EU" weighed on investors’ conviction, many of its businesses continued to benefit from generally improving economic conditions. Citi shares rose 3.5% following its report, while Goldman shares slipped a bit more than 1.5%... eBay (EBAY), which is set to split from PayPal (PYPL) in just a few days, reported better than expected earnings for the still-combined company. eBay also announced an additional $1B stock repurchase authorization, bringing its total buyback allowance to $3B, and confirmed it reached a deal to sell eBay Enterprise to a consortium consisting of Sterling Partners, Permira Funds and others for $925M. MAJOR MOVERS: Among the notable gainers was Amira Nature Foods (ANFI), which advanced 16% after the company reported earnings and said it sees "double-digit" revenue growth in its new fiscal year. Also higher was Philip Morris (PM), which gained 3% after reporting better than expected earnings and revenue, excluding certain items. Among the noteworthy losers was Rovi (ROVI), which dropped 16.5% after Netflix was granted a motion of summary judgment invalidating all five of the remaining Rovi patents that were being contested in litigation between the companies. Also lower was Garmin (GRMN), which fell 9% after reporting preliminary Q2 earnings that fell short of expectations, citing the negative impact of currency movements and a "more promotional pricing environment" in the fitness segment. INDEXES: Near midday, the Dow was up 35.47, or 0.2%, to 18,085.64, the Nasdaq was up 54.08, or 1.06%, to 5,153.02, and the S&P 500 was up 14.10, or 0.67%, to 2,121.50.
10:45 EDTROVINetflix price targets soar as Bernstein stays bearish
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10:19 EDTROVIRovi tumbles, levels to watch
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10:04 EDTROVIHigh option volume stocks
High option volume stocks: TWX PMCS SHW ASML GRMN GSAT ROVI ALLY LC HZNP
10:00 EDTROVIOn The Fly: Analyst Downgrade Summary
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09:55 EDTROVIRovi trial loss immaterial to estimates, says Piper Jaffray
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09:31 EDTROVIRovi downgraded to Sector Weight from Overweight at KeyBanc
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09:10 EDTMSFTMicrosoft to acquire FieldOne Systems, terms not disclosed
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09:09 EDTAIGAIG expands presence in Chinese-American life insurance market
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08:54 EDTAIGBofA/Merrill U.S. life insurance analyst holds analyst/industry conference call
U.S. Life Insurance Analyst Weiss, along with Jill Hoffman, VP of Government Affairs and Felicia Smith, VP & Senior Counsel for Regulatory Affairs from the Financial Services Roundtable, discuss the Labor Department's recent proposal to impose fiduciary standards on the sale of retirement products on an Analyst/Industry conference call to be held on July 20 at 11 am.
08:05 EDTAIGAIG launches design, construction risk mitigation service for luxury homes
AIG Private Client Group said it introduced the insurance industry’s first risk management and mitigation service for residential construction projects with budgets of $5M or more. The service seeks to minimize risks related to natural catastrophe, water damage, security, fire and life safety, and potential threats to fine art or other collections that will be located in a home. AIG’s Smart Build recommendations come from the company’s deep experience protecting some of the world’s largest luxury homes, as well as extensive analysis of AIG claims data and overall loss trends.
05:56 EDTROVINetflix ruling irrelevant to Rovi contract renewals, says B. Riley
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05:52 EDTROVIRuling in Netflix case a negative for Rovi, says JPMorgan
JPMorgan analyst Sterling Auty says court filings released after yesterday's market close indicate Netflix (NFLX) was granted a motion of summary invalidating all five of the remaining Rovi (ROVI) patents that were being contested. Auty expects Rovi to sell off on the news as investors consider what the ruling may do to the company's upcoming contract renewals with Comcast (CMCSA), Time Warner Cable (TWC), DirecTV (DTV) and DISH (DISH). The "big 4" choosing to litigate against Rovi is "certainly a possibility," but the companies have bigger patent infringement exposures than an over-the-top vendor like Netflix, Auty writes in a research note. He keeps a Neutral rating on Rovi.
05:46 EDTMSFTMicrosoft's new Surface expected to be available in October, DigiTimes reports
Microsoft's new Surface tablet is expected to be launched in October after upstream supply chains have been notified to start mass shipments of components in September, reports DigiTimes. According to sources, Microsoft's Surface Pro shipments were 200K-250K units per month in Q1 and its monthly tablet shipment volume rose to above 300K. Sources say Microsoft's monthly tablet shipments may have a chance to reach 500K-600K units. Reference Link
05:46 EDTMSFTMicrosoft may increase smartphone outsourcing in Taiwan, Vietnam, DigiTimes says
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05:16 EDTROVIRovi provides update on litigation against Netflix
Rovi (ROVI) provided an update on ongoing litigation against Netflix (NFLX). Rovi has been engaged in litigation against Netflix with respect to five patents related to various features and functionality provided by the over-the-top, or OTT, video service. On July 15, Judge Phyllis Hamilton issued a ruling granting Netflix’s motion for summary judgment on the five patents at issue in the current litigation, finding the patents invalid on the grounds that they are not directed to patentable subject matter based upon the Supreme Court’s 2014 ruling in Alice Corp. Pty. Ltd. v. CLS Bank International. As a result, the Court has entered judgment in favor of Netflix in the case. As part of the decision, Judge Hamilton also issued a claim construction ruling in the case in which the Court construed the nine disputed claim terms in the case. The Court ruled in Rovi’s favor on nearly all of the disputed claim terms, only adopting Netflix’s proposed construction of a single term. Importantly, the Court rejected attempts by Netflix to limit the scope of the patents to the area of “broadcast television,” noting that the claims contain no such limitations and the patents refer to other types of media. Furthermore, the Court rejected attempts by Netflix to limit the scope of the patents to set-top box implementations.
05:06 EDTROVIRovi enters into patent license agreement with SK Broadband in Korea
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