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November 30, 2015
10:48 EDTNOCGeneral Dynamics gains as Barclays shuffles ratings on major defense stocks
Shares of General Dynamics (GD) rose, while Lockheed Martin (LMT) and Raytheon (RTN) fell in morning trading after an analyst from Barclays shuffled his rating on the three defense companies. ANALYST ACTIONS: Barclays analyst Carter Copeland upgraded General Dynamics to Overweight from Equal Weight and maintained a $157 price target on shares, saying that Gulfstream-related fears are "overly discounted" at the current price. The analyst added that the company has the best risk/reward chances of any company in the sector, despite its recent lag in its valuation. In other moves, Copeland downgraded Lockheed Martin to Underweight from Equal Weight on valuation and lowered the price target to $210 from $215. The Barclays analyst said that Lockheed's 2016/2017 consensus estimates need to come down 8%10% as the company's new segments will likely a have lower multi-year profile than investors currently believe. Copeland added that "there's a lot to like" about Lockheed Martin, but that it "doesn't make sense" to expect further outperformance. The analyst also downgraded Raytheon to Equal Weight from Overweight with a $125 price target, also citing valuation. Copeland said that the defense contractor has reached the firm's price target and that "not much has changed" from a fundamental perspective to argue for further expansion. INDUSTRY VIEW: Copeland maintained his neutral stance on the defense sector as a whole given macro uncertainties elsewhere as well as terrorism-related fears but despite higher valuations. The Barclays analyst said that recent moves have motivated the firm to alter its ratings of companies in the sector, placing General Dynamics at the top of its rank-order preference, then Northrop Grumman (NOC), Raytheon, L-3 Communications (LLL), Lockheed Martin and Huntington Ingalls (HII) "at the bottom." SECTOR PEERS: The analyst added that defense peer Huntington Ingalls seems to be the best structural underperformer despite its recent rally, while Northrop Grumman has become arguably the best fundamental story in the industry. Copeland also said that L-3's improvements are "arguably priced in," though the company has much to do without any assurance of success. The analyst said he still prefers Orbital ATK (OA) and Harris (HRS) to the "defense primes" and anticipates upside to warrant Overweight ratings. PRICE ACTION: In morning trading, General Dynamics gained 0.78% to $146.70, while Lockheed Martin fell 2.2% to $220.95, Raytheon declined 1.32% to $125.15. Huntington Ingalls fell 0.5% to $132.11, Northrop Grumman declined 0.14% to $188.14, L-3 fell 1.09% to $123.11, Orbital ATK dropped 0.35% to $86.10. Meanwhile, Harris gained 0.52% to $83.53.
09:35 EDTAMZNActive equity options trading on open
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09:34 set to test life high
The stock is up over 1.1% to $680.75 at time of writing. At that price resistance is at the life high at $682.77. A break above the life high would open up the potential for a move to the $685 to $690 area. Support is at $675.95.
09:14 EDTAMZNAmazon 'Cyber Sunday' SSS up 20.5%, eBay SSS up 4.5%, ChannelAdvisor says
In a continuation of its series of holiday weekend updates, market researcher ChannelAdvisor said (AMZN) "Cyber Sunday" same-store sales rose 20.5% and eBay's (EBAY) SSS grew 4.5%. Google Shopping/PLA (GOOG) SSS growth came in at 23.7% for Cyber Sunday, the blog added. Reference Link
08:46 EDTAMZNAmazon SSS rose over 20% on Black Friday, Cyber Saturday, ChannelAdvisor says
ChannelAdvisor reported in blog posts over the holiday weekend that (AMZN) outperformed the 15% e-commerce growth benchmark with same-store sales estimated to grow by 20.8% on Black Friday and by 20.6% on Cyber Saturday. eBay (EBAY) SSS increased 1.5% year-over-year on Black Friday and 3.6% on Cyber Saturday, ChannelAdvisor said. Google Shopping/PLA (GOOG, GOOGL) SSS grew 40.3% on Black Friday and by 25.7% for Cyber Saturday, the blog added. Reference Link
08:40 EDTAMZNAmazon says Black Friday 'surpassed all expectations' in U.K. had its busiest day ever on Black Friday, November 27, 2015, Amazon announced over the weekend. "With hundreds of discounted products on offer, sold more than 7.4 million items, at a rate of around 86 items per second. In fact, at 9.10pm yesterday, Black Friday 2015 had already become's biggest day ever...Amazon has been heavily investing in its UK infrastructure throughout 2015 to be ready for what is expected to be its biggest Christmas on record," the company said.
07:56 EDTAMZNMicrosoft upgraded to Strong Buy on Cloud strength at Raymond James
As previously reported, Raymond James analyst Michael Turits upgraded Microsoft (MSFT) two notches to Strong Buy from Market Perform, saying he views it as one of the only "hyperscale" hybrid cloud vendors with the ability to integrate Infrastructure-as-a-Service, Platform-as-a-Service and Software-as-a-Service. Turits also noted that despite the challenge from Google Apps (GOOG), Office appears to be accelerating several years into the transition to cloud and he believes 365 offers enough cross platform value to keep consumers loyal. The analyst set a $62 price target on Microsoft, which he sees as joining Google and Amazon (AMZN) as the only "hyperscale" cloud vendors across IaaS, PaaS and SaaS.
07:34 EDTNOCCredit Suisse to hold a conference
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07:01 EDTBIOCBiocept gains patent protection in Hong Kong and Japan
Biocept announces the allowance of the patent detection or isolation of target molecules using a microchannel apparatus in Hong Kong and Japan. The patent issued as HK1135725 in Hong Kong and JP5824387 in Japan, and covers Biocept's microchannels for the capture of molecular targets, including circulating tumor cells and other rare cells, from blood and other biological fluids.
06:17 volatility flat into Cyber Monday
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November 29, 2015
20:16 EDTBAFAA to propose new safety directives for some Boeing, Embraer jets, WSJ says
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16:17 EDTAMZNAmazon showcases 'Prime Air' drone delivery system
Amazon has launched a website showcasing its "Prime Air" drone delivery system, offering a number of images of the drones as well as a video presented by Jeremy Clarkson of "Top Gear" fame. The footage displays a drone using "sense and avoid" technology to scan the backyard of an Amazon customer as it looks for a suitable landing area before dropping off a package. "In time, there'll be a whole family of Amazon drones -- different designs for different environments," noted Clarkson, while Amazon itself commented, "We're excited about Prime Air, a future delivery system from Amazon designed to safely get packages to customers in 30 minutes or less... Putting Prime Air into service will take some time, but we will deploy when we have the regulatory support needed to realize our vision." The company explained further that the drones operate below 400 feet and employ a "high degree of automation" to fly to distances of 10 miles or more. "Safety is our top priority. Our vehicles will be built with multiple redundancies, as well as sophisticated 'sense and avoid' technology. We will not launch Prime Air until we are able to demonstrate safe operations," said Amazon, adding, "We have more than a dozen prototypes that we've developed in our research and development labs... in the United States, the United Kingdom and Israel." Reference Link
November 27, 2015
14:09 EDTAMZNOptions Update; November 27, 2015
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13:22 EDTAMZNOn The Fly: Top stock stories for Friday
Stocks on Wall Street were mixed following the short Black Friday session. In addition to periodic checks on traffic at malls and big box retailers, the day's media coverage was dominated by discussion of Disney's disclosure that subscribers for ESPN have dropped about 3% from last year's levels. ECONOMIC EVENTS: In the U.S., no major data was released, as several reports that usually come out on Thursdays or Fridays were accelerated into Wednesday due to the holiday. In China, shares of brokerages sold off sharply, with Citic Securities, Founder Securities and China Merchants all falling about 10% on news that the China Securities Regulatory Commission had launched investigations into the firms in an effort to limit short selling and speculation. Amid the rout in the brokerages, the Shanghai Composite index tumbled 5.5%. COMPANY NEWS: Shares of Disney (DIS) fell $3.56, or 3.0%, to $115.11 after the media giant disclosed in a regulatory filing late Wednesday that domestic subscribers for ESPN were estimated to have declined by 3M. As of October 3, ESPN had 92M subscribers in the U.S., as estimated by Nielsen Media Research. In the company's 10-K filing last year, Disney stated that Nielsen estimated that ESPN had 95M subscribers as of September 27, 2014. Disney's weakness weighed on its big media peers as well, with Twenty-First Century Fox (FOX, FOXA) falling 1.2%, Time Warner (TWX) dropping 0.74% and Viacom (VIA, VIAB) sliding 1.8%... Amazon (AMZN) shares were flattish, falling 0.3% despite Adobe Systems estimating that online shoppers in the U.S. would spend $1.7B in online shopping by the end of the day on Thanksgiving, a 22% jump from last year. Additionally, ChannelAdvisor estimated that Amazon had a "strong showing" on Thanksgiving day, calculating that its same-store sales grew 28.9% compared to last year. MAJOR MOVERS: Among the notable gainers was Exact Sciences (EXAS), which rose 3.8% to $9.23 after the Centers for Medicare and Medicaid Services, or CMS, posted the 2016 Clinical Diagnostic Laboratory Fee Schedule. Exact Sciences announced this morning that it has requested that CMS clarify the 2016 reimbursement rate for the company's Cologuard test. Also higher were shares of KaloBios Pharmaceuticals (KBIO), which jumped 30.8% to $34.83 after its new CEO, Martin Shkreli, announced last night via his Twitter account that after speaking with his counsel and advisers that he has decided to stop lending his KaloBios shares out until he "better [understands] the advantages of doing so." Among the noteworthy losers were a number of oil and gas explorers, as Pioneer Energy Services (PES), Stone Energy (SGY) and Southwestern Energy (SWN) fell 8%, 10.2% and 7.2%, respectively, during another down day for oil prices. INDEXES: The Dow fell 14.90, or 0.08%, to 17,798.49, the Nasdaq gained 11.38, or 0.2%, to 5,127.52, and the S&P 500 added 1.24, or 0.06%, to 2,090.11.
12:55 EDTAMZNBlack Friday online spending estimated up 15% in early read, Bloomberg reports
Adobe said in an e-mailed statement to Bloomberg that early data show a 15% increase in online spending compared to last year, with $822M spent online between midnight and 11 am this Black Friday morning.
12:19 EDTAMZNOn The Fly: Weekly technical notes for S&P 500
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11:15 EDTAMZNChannelAdvisor says Amazon SSS up 29% on Thanksgiving, eBay up 7%
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11:12 offers year of Cloud Drive unlimited online storage for $5.00
The company said: "When you upload a file or photo to Cloud Drive, you're saving a backup copy in Amazon's secure servers. There's no limit to how many files you can upload, and we'll never change or reduce the resolution of your images.I t's easy to access your stuff from nearly any device. Free mobile apps for iOS and Android let you quickly view, organize, and share things when you need to, no matter where you are. Auto-save your photos to Cloud Drive, then delete them from your device. You'll still be able to view and share them on your phone via the free Amazon Photos app." Reference Link
09:36 EDTAMZNActive equity options trading on open
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08:35 EDTCHKChesapeake CEO Lawler still aiming to turn company around, WSJ says
Chesapeake CEO Doug Lawler is facing the challenge of surviving in the U.S. energy sector despite low oil and gas prices by making deep changes financially, operationally, and culturally at the company, the Wall Street Journal says. The company was deeply in debt before Lawler took over two years ago, and the new CEO found a litany of other problems the more he dug into the reckless spending pattern of his predecessor, the report says. Under Lawler's guidance, Chesapeake ahs cut spending by more than half compared with 2012, pared its workforce by 67%, and reduced its drilling footpring by nearly 5.5M acres, the report says. The cuts go beyond traditional business cuts, as Lawler has changed a lot of cultural areas of the company, including using funds that normally went to an ostentatious holiday lights display to make charitable donations instead, the report says. Reference Link
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