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Stock Market & Financial Investment News

News For AMZN;BA;CHK;MERU;BIOC;CPNO;KMP;ISIS;MTOR;NOC;PLXT;HNT;CODE From The Last 14 Days
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October 16, 2014
16:01 EDTAMZNOptions Update; October 16, 2014
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14:42 EDTAMZNeBay appears done with same-day delivery 'experiment,' Re/Code says
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13:03 EDTBABoeing reports one new 747 order in weekly update
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12:29 EDTCHKOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, though well off their worst levels. The market opened sharply lower following less than stellar quarterly reports from some of the country’s largest corporations and a number of in-focus "momentum" names such as Netflix (NFLX) and eBay (EBAY). The early drop extended the market’s recent declines and put the averages close to correction territory. The market moved off its lows after a regional Fed president, who'd recently been seen as hawkish, said in an interview that the central bank should consider delaying the end of quantitative easing and that it should be more data driven than time driven. The comments were attributed as the catalyst for a reversal that brought the averages all the way back to positive territory, though the market has once again drifted back into negative ground. ECONOMIC EVENTS: In the U.S., initial jobless claims decreased by 23K to 264K last week to hit their lowest level since April 2000. Industrial production rebounded 1.0% in September, beating expectations for a rise of 0.4% and pushing capacity utilization up to 79.3% from 78.7% previously. The Philadelphia Fed manufacturing index fell 1.8 points to 20.7 in October, which was not as low as the expected 19.9 reading. The NAHB homebuilder sentiment index fell 5 points to 54 in October, versus expectations for it to hold steady at 59. Also of significant note, St. Louis Fed President James Bullard, who is not a voting FOMC member though was quoted recently saying that a rate hike might be appropriate as soon as early next year, reversed course this morning and told Bloomberg in an interview that the Fed should consider delaying an end to its quantitative easing program. COMPANY NEWS: Shares of Netflix (NFLX) plunged 22% after the company provided lower than expected Q4 profit guidance and reported lower than expected subscriber data. The move after its earnings report last night also follows Time Warner's (TWX) announcement yesterday of plans for a standalone HBO online service and Piper Jaffray saying it believes CBS (CBS) will similarly launch an over-the-top Showtime offering next year... eBay (EBAY) shares slipped nearly 6% after the company missed revenue expectations for the third quarter and lowered its outlook for fiscal 2014. Following the report, analysts at both RBC Capital and CLSA downgraded the stock. MAJOR MOVERS: Among the notable gainers was Chesapeake Energy (CHK), which rose 17% after the company announced that it sold Marcellus and Utica shale assets to Southwestern Energy (SWN) for $5.375B. Shares of the buyer Southwestern, however, fell 8% after the deal announcement. Also lower was Extreme Networks (EXTR), which dropped almost 19% after cutting its first quarter outlook citing significant delays with its North American deals as well as headwinds in Europe. INDEXES: Near midday, the Dow was down 28.46, or 0.18%, to 16,113.28, the Nasdaq was down 16.16, or 0.38%, to 4,199.16, and the S&P 500 was down 2.08, or 0.11%, to 1,860.41.
12:11 EDTAMZNeBay sinks after trimming fiscal 2014 revenue outlook
Shares of e-commerce company eBay (EBAY) are sinking after the firm missed revenue expectations for the third quarter and lowered its outlook for for fiscal 2014. The mid-point of its fourth quarter earnings per share, as well as its Q4 revenue guidance also fell below analysts' consensus estimates. WHAT'S NEW: Last night, eBay reported Q3 EPS of 68c and revenue of $4.35B, compared to consensus of 67c and $4.37B, respectively. For the quarter, Marketplaces segment toatl net revenue increased $129M from last year, Payments segment total net revenue increased $330M and Enterprise segment total net revenue increased $7M. In a filing, eBay said that it had no material operating expenses directly related to a cyberattack, but noted that the cyberattack did adversely affect its Marketplaces revenue in the quarter. The company said it is currently unclear whether any loss of customer trust resulting from the breach could negatively impact its Marketplaces segment's results of operations on an ongoing basis or "require us to increase promotional efforts to regain such trust." WHAT'S NOTABLE: Looking ahead, eBay forecast Q4 EPS of 88c-91c and revenue of $4.85B-$4.95B, versus consensus estimates of 91c and $5.16B, respectively. The company announced that FY14 EPS would come in at the low end of its previous guidance of $2.95-$3.00, compared to consensus of $2.97. eBay also lowered its FY14 revenue outlook to $17.85B-$17.95B from $18B-$18.3B, versus analysts' consensus estimates of $18.15B. eBay cited slower Marketplace growth and FX headwinds for the reduced guidance. eBay said PayPal is on track to process 1B mobile transactions in 2014 and that it expects the PayPal separation to be complete in 2H15. ANALYST REACTION: This morning, research firm RBC Capital downgraded eBay to Sector Perform from Outperform following the Q3 report, citing softness in Marketplaces and lower than expected Payments segment margins. The firm lowered its price target on the shares to $55 from $62. Another firm, Stifel, said eBay shares are approaching compelling levels. However, Stifel noted that it is reluctant to become more positive on the stock without more information about the PayPal spin off, potential cost structure changes after the spin and before the stabilization of current operating trends. Stifel kept a Hold rating on the shares. CLSA downgraded eBay to Underperform from Buy and lowered its price target to $52 from $66. The firm cited ongoing issues with Marketplaces, execution risks post split, diminishing PayPal competitive advantages and potential M&A barriers. PRICE ACTION: In intra day trading, eBay fell $3.13, or about 6.3%, to $47.10 on heavy trading volume. Including today's pull back, the shares have lost approximately 12% over the past 12 months. OTHERS TO WATCH: Other ecommerce companies include Amazon.com (AMZN), down 1.8%, and Mercadolibre (MELI), down 0.9%.
12:05 EDTCHKChesapeake rises, Southwestern Energy slips after shale asset deal
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11:36 EDTCODEOptions with increasing implied volatility
Options with increasing implied volatility: UVXY NQ PVA SVXY VXX SUNE CIE COV ZU CODE
10:23 EDTAMZNAmazon.com breaks below $300, levels to watch
Shares have broken psychologically important support at $300, last at $299.59. At that price, next support is at $296.76. Resistance is at $305.01.
09:23 EDTCHKOn The Fly: Pre-market Movers
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08:06 EDTAMZNAlmunia says political pressure around Google case 'unprecented,' WSJ reports
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07:05 EDTCHKSouthwestern Energy acquires Marcellus and Utica assets from Chesapeake
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07:05 EDTCHKChesapeake announces sale of shale assets for $5.375B
Chesapeake (CHK) announced that it has executed a Purchase and Sale Agreement to sell assets in the Southern Marcellus Shale and a portion of the Eastern Utica Shale in West Virginia to Southwestern Energy Company (SWN) for aggregate proceeds of $5.375B. The transaction, which is subject to certain customary closing conditions, including the receipt of third-party consents, is expected to close in Q4. Chesapeake has agreed to sell approximately 413K net acres and approximately 1,500 wells in Northern West Virginia and Southern Pennsylvania, of which 435 are in the Marcellus and Utica formations, along with related property, plant and equipment. Average net daily production from these properties was approximately 56K barrels of oil equivalent during the month of September, consisting of 184K Mcf of gas, 20K barrels of natural gas liquids and 5,000 barrels of condensate. The company said, "We expect our full-year production guidance for 2015 to remain in the range of 7-10% growth from 2014 levels adjusted for asset sales. I am very proud of the efforts that our Southern Marcellus team and all of our employees have put into building and developing our assets and creating value for our company. We look forward to deploying the proceeds from this significant transaction in ways that will continue to drive even greater shareholder value.”
06:28 EDTBABoeing mulls potential helicopter deal with Brazilian Army, Reuters says
Boeing said that the Brazilian Army has shown an interest in purchasing a few of the company's CH-47 Chinook helicopters, and explained that it maintains its opinion that Brazil is a noteworthy collaborator for projects in the defense and commercial space, according to Reuters, citing comments from Boeing spokesman Scott Day. Reference Link
05:22 EDTAMZNAmazon.com to add 80,000 seasonal jobs
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October 15, 2014
18:26 EDTAMZNOn The Fly: After Hours Movers
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16:15 EDTKMPKinder Morgan Energy increases quarterly dividend to $1.40 from $1.39
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16:13 EDTKMPKinder Morgan now sees exceeding published annual budget dividend of $1.72
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16:00 EDTAMZNOptions Update; October 15, 2014
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15:28 EDTKMPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include American Express (AXP), consensus $1.36; eBay (EBAY), consensus 67c; Kinder Morgan (KMI), consensus 34c; Kinder Morgan Energy Partners (KMP), consensus 64c; Kinder Morgan Management (KMR), consensus 58c; El Paso Pipeline Partners (EPB), consensus 39c; Netflix (NFLX), consensus 93c; United Rentals (URI), consensus $2.08; Navient (NAVI), consensus 52c; Las Vegas Sands (LVS), consensus 58c; Umpqua Holdings (UMPQ), consensus 29c; Astoria Financial (AF), consensus 16c; Rambus (RMBS), consensus 5c.
13:21 EDTAMZNAmazon investor sentiment near all-time lows, analyst says
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