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Stock Market & Financial Investment News

News Breaks
January 14, 2013
09:38 EDTHPQ, RIG, AAPL, FB, AKSActive equity option families trading
Active equity option families trading on open according to Track Data: AAPL HPQ FB AKS RIG.
News For AKS;AAPL;HPQ;FB;RIG From The Last 14 Days
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January 28, 2016
10:52 EDTFBStocks with call strike movement; QCOM FB
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10:34 EDTAAPLApple supplier Cirrus jumps after results beat expectations
The shares of Cirrus Logic (CRUS) are surging after the company reported stronger than expected third quarter results last night. Research firm Oppenheimer responded to the news by upgrading the stock to Outperform from Market Perform. Cirrus, which develops integrated circuits, is said to get about 75% of its revenue from Apple (AAPL). WHAT'S NEW: Cirrus reported Q3 EPS of 82c, versus analysts' consensus outlook of 81c. The company's revenue also came in slightly above expectations. However, it provided Q4 revenue guidance of $225M at the midpoint of their range of $210M-$240M, versus the consensus outlook of about $260M. However, Cirrus said that it continues to expect its revenue to increase more than 15% in its upcoming fiscal year. "Short-term weakness for certain audio products" caused Cirrus' Q3 results and Q4 outlook to be weaker than the company originally expected, the company stated. iPhones, whose sales came in below analysts' consensus forecast last quarter, utilize audio products from Cirrus. Cirrus CEO Jason Rhode said he remains upbeat about the company's prospects, stating, "We are confident that our strategy of focusing on innovative market leading customers in the fastest growing audio and voice segments will fuel future growth." Rhode added that Cirrus expects to sell more products to its existing customers going forward. ANALYST REACTION: Oppenheimer analyst Rick Schafer upgraded Cirrus to Outperform from Market Perform in a note to investors today. Apple will utilize a smart codec from Cirrus to reduce noise in the earbuds of the upcoming iPhone 7 device, Schafer predicted. As a result, Cirrus will obtain an average of about $5.50 for each iPhone 7 sold, up from about $3.50 for the iPhone 6 and iPhone 6+, the analyst estimated. Meanwhile, Cirrus is selling more of its smart codecs and audio amps to Android smartphone makers, accrding to Schafer. He raised its 2017 EPS estimate for the company to $3.30 from $2.74, and he thinks the company's results could beat expectations through the second half of this year. Schafer set a $40 price target on the shares. PRICE ACTION: In early trading, Cirrus climbed 15.5% to $32.29.
10:13 EDTFBOptions with decreasing implied volatility
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10:05 EDTAAPLApple recalls wall plug adapters outside the U.S.
Apple announced a voluntary recall of AC wall plug adapters designed for use in Argentina, Australia, Brazil, Continental Europe, New Zealand and South Korea. "In very rare cases, affected Apple two-prong wall plug adapters may break and create a risk of electrical shock if touched," the iPhone maker said in a statement. The wall plug adapters shipped with Mac and certain iOS devices between 2003 and 2015 and were also included in the Apple World Travel Adapter Kit. Apple is aware of 12 incidents worldwide. The recall does not affect any other Apple AC wall plug adapters designed for Canada, China, Hong Kong, Japan, United Kingdom, United States or any Apple USB power adapters.
09:38 EDTFB, AAPL, RIGActive equity options trading on open
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09:19 EDTFBOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Facebook (FB), up 13.9%... Under Armour (UA), up 14.6%... MicroStrategy (MSTR), up 8.9%... Harley-Davidson (HOG), up 8%... Paypal (PYPL), up 6%... Mellanox (MLNX), up 7.9%... Cirrus Logic (CRUS), up 6.2%... Alibaba (BABA), up 4.5%. ALSO HIGHER: Neos Therapeutics (NEOS), up 61.4% after the FDA approved Adzenys XR-ODT for the treatment of ADHD... Exelixis (EXEL), up 4.7% after the U.S. FDA determined the company's New Drug Application for cabozantinib is sufficiently complete... Kinder Morgan (KMI), up 6.7% after being upgraded at Credit Suisse and Stifel. DOWN AFTER EARNINGS: OSI Systems (OSIS), down 21.3%... ServiceNow (NOW), down 22.3%... eBay (EBAY), down 11.5%... InvenSense (INVN), down 10.5%... Juniper Networks (JNPR), down 9.3%... Hologic (HOLX), down 4.4%... Abbott Laboratories (ABT), down 3.6%... Potash (POT), down 2.1%... Qualcomm (QCOM), down 3.6%.
08:33 EDTFBOptions expected to be active
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08:16 EDTFBFacebook price target raised to $145 from $135 at Jefferies
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08:09 EDTFBFacebook price target raised to $130 from $120 at Stifel
Stifel raised its price target on Facebook after the company reported stronger than expected Q4 results. The firm thinks the company's mobile ad products all performed well, while its user engagement continues to grow steadily. Stifel keeps a Buy rating on the shares.
07:48 EDTFBFacebook reported solid results, says Oppenheimer
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07:46 EDTAAPLNew iPad Air production to start in Q2, Digitimes reports
Apple is anticipated to unveil its new edition of the iPad Air in March 2016 and production will begin in Q2, with General Interface Solution and TPK to supply touch panels, Digitimes reports, citing Taiwan-based supply chain makers. The new iPad will reportedly come with a 4K resolution panel and up to 4GB in RAM, as well as better battery life, the report says. Reference Link
07:45 EDTFBFacebook price target raised to $140 from $125 at Cowen
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07:15 EDTAAPLMarathon Patent Group announces trial date of May 2 in case against Apple
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07:11 EDTRIGTransocean price target cut to $2.70 from $12 at Morgan Stanley
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06:46 EDTAAPLApple may unveil iPad Air 3 at March event, 9to5Mac reports
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06:36 EDTFBFacebook price target raised to $145 from $125 at Deutsche Bank
Deutsche Bank analyst Ross Sandler raised his price target for Facebook shares to $145 saying the company's Q4 results delivered the greatest upside since mid-2013. The analyst increased his 2016 revenue and EBITDA estimates by 6.5% and 14.1%, respectively, and keeps a Buy rating on Facebook.
06:22 EDTAAPLGoogle, Apple push back on Euro tax deals, FT reports
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06:18 EDTFBFacebook price target raised to $136 from $127 at JPMorgan
JPMorgan analyst Doug Anmuth raised his price target for Facebook to $136 saying the social media giant is "standing out from the pack" following its Q4 results. Revenue growth is accelerating and margins are expanding, Anmuth tells investors in a post-earnings research note. The company is not seeing signs of macro pressure, he points out. The analyst keeps an Overweight rating on Facebook.
06:11 EDTAAPLApple could ship 20M Macs this year, DigiTimes reports
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05:46 EDTFBFacebook price target raised to $170 from $155 at Piper Jaffray
Piper Jaffray analyst Gene Munster raised his price target for shares of Facebook (FB) to $170 following the social media giant's Q4 results. The stock is up $11.55, or 12%, to $106.00 in pre-market trading. Facebook beat Q4 revenue estimates by 9% on stronger contribution from core mobile and the ramp of Instagram, Munster tells investors in a post-earnings research note. Management made only one mention of macro concerns for the business in 2016, significantly different than Apple's (AAPL) earnings call on Tuesday night, Munster points out. He expects Facebook shares "can continue to work" and keeps an Overweight rating on the name.
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