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October 25, 2013
12:48 EDTEMN, ZNGA, MSFT, DECK, CECO, AMZN, CTCT, PGOn The Fly: Midday Wrap
Stocks on Wall Street were slightly higher at midday after the tech-heavy Nasdaq index, which had been the leader in the morning hours, gave up nearly all of its early gains. The strength in the tech sector was largely attributable to advances by two of the titans in the space, (AMZN) and Microsoft (MSFT), following their earnings reports. ECONOMIC EVENTS: In the U.S., durable goods orders climbed 3.7% in September, stronger than the expected 2.5% increase. Durable goods orders excluding transportation orders were down 0.1%, versus expectations for them to be up 0.5% in the month. The final University of Michigan consumer confidence reading for October was 73.2, versus an expected 75.0 reading. Wholesale trade inventories grew 0.5% in August , versus expectations for a rise of 0.4% for the month. COMPANY NEWS: Amazon shares rallied about 9% after the company reported third quarter losses that were in-line with forecasts and revenue that beat analysts' consensus expectation. Following its report at least eight firms raised their price targets on Amazonís shares and Raymond James upgraded the stock to Strong Buy. Another tech giant, Microsoft, beat expectations on both the top and the bottom line and its stock advanced over 5%... Procter & Gamble (PG) reported earnings per share that matched expectations and backed its full-year outlook, though its shares slid nearly 1% after its report. MAJOR MOVERS: Among the notable gainers was Career Education (CECO), which was up more than 50% near midday after the company last night announced a deal to sell its European education properties for $305M. Also higher was mobile game maker Zynga (ZNGA), which gained 11% after reporting a narrower-than-expected third quarter loss. Also higher following their quarterly reports were Constant Contact (CTCT), which rose over 18%, and Ugg-maker Deckers Outdoor (DECK), which advanced more than 19% near midday. Among the noteworthy losers was Eastman Chemical (EMN), which fell over 6% after cutting its FY13 EPS outlook and being downgraded to Neutral from Conviction Buy at Goldman. INDEXES: Near midday, the Dow was up 26.02, or 0.17%, to 15,535.23; the Nasdaq was up 6.86, or 0.17%, to 3,935.82; and the S&P 500 was up 2.72, or 0.16%, to 1,754.79.
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November 17, 2015
16:01 EDTAMZNOptions Update; November 17, 2015
iPath S&P 500 VIX Short-Term Futures up 1.32 to 21.07. Option volume leaders: GE BAC AAPL FB NFLX SYF WMT CSCO MU SUNE VRX BABA AMZN HD FCX
11:24 EDTAMZNStocks with call strike movement; AAL AMZN
American Airlines (AAL) February 50 call option implied volatility increased 2% to 34, (AMZN) April 760 call option implied volatility increased 1% to 32 according to iVolatility.
09:02 EDTMSFTAnalyst pans competing products, says buy Fitbit
Shares of previous high-flier Fitbit (FIT) have dropped about 30% in the last two weeks following the company's third quarter earnings report, but an analyst at Bank of America upgraded his view of the fitness tracker maker this morning, saying that now is the time to buy ahead of fourth quarter results that may be boosted by the "underwhelming" new products being launched by its competitors. UNDERWHELMING COMPETITION: Fitbit's sales guidance for this holiday quarter looks conservative, contends Bank of America analyst Nat Schindler, who notes that the company only had the launch of one new product last December but will have the Charge, Charge HR and Surge to drive sales this season. Schindler also notes that the company's international advertising has expanded into more countries ahead of the holidays this year. Key, however, may be the "underwhelming" lineup of new or updated fitness trackers launched by competitors, such as the Microsoft's (MSFT) Band 2, Jawbone's UP4 and Sony's (SNE) Smartband 2, many of which have only minor improvements and no "must have" features to pull consumers away from Fitbit, Schindler told investors in his research note. PLATFORM PICKING UP STEAM: The analyst also pointed out that Fitbit now has more than 20 companies signed onto its health and wellness platform, including big names like Target (TGT) and Barclays (BCS), which he believes should help drive revenue beats in the upcoming fiscal year due to increased device sales. Also, the additional dashboard data should help Fitbit maintain long-term user engagement, said Schindler. APPLE WATCH: Apple's (AAPL) Apple Watch is largely viewed as the biggest potential competitive threat to Fitbit's offerings, but on the fitness tracker maker's last earnings call CEO James Park said Fitbit's products differ from those of its competitors in several key aspects, including pricing, cross-platform compatibility, brand awareness and product line breadth. Other wearables makers include Garmin (GRMN) and Samsung. PRICE ACTION: Since the day after Fitbit's last earnings report after the market close on November 2, its shares have fallen about 29.5% to close yesterday at $28.80. In pre-market trading this morning, Fitbit shares rose 2% to $29.40.
07:56 EDTMSFTUBS to hold a conference
Global Technology Conference is being held in San Francisco on November 16-18 with webcasted company presentations to begin on November 17 at 10:45 am.; not all company presentations may be webcasted. Webcast Link
07:52 EDTPGMorgan Stanley to hold a conference
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06:16 EDTMSFTMicrosoft turns around flawed security technology, NY Times says
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November 16, 2015
17:10 EDTAMZNSoros took stake in Paypal, liquidated Herbalife stake
Soros Fund Management gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Paypal (PYPL), CIT Group (CIT), Schlumberger (SLB), Kraft Heinz (KHC), and Amazon (AMZN). INCREASED STAKES: Allergan (AGN), Lions Gate (LGF), Energen (EGN), Southwest Airlines (LUV), and Qunar Cayman Islands (QUNR). DECREASED STAKES: LyondellBasell (LYB), YPF (YPF), Time Warner Cable (TWC), Dow Chemical (DOW), and Monsanto (MON). LIQUIDATED STAKES: Herbalife (HLF), Lennar (LEN), DR Horton (DHI), United Continental (UAL), and Nice Systems (NICE).
17:02 EDTAMZN, MSFTPoint72 added to lululemon position, subtracted from Netflix position
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16:00 EDTMSFT, AMZNOptions Update; November 16, 2015
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10:37 underperforms, heads sharply lower
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09:37 EDTAMZNActive equity options trading on open
Active equity options trading on open: AAPL FB ORCL BAC SUNE FDX FCX EXPE NFLX MU AMZN INTC TSLA
09:33 EDTAMZNeBay second week of November SSS up 0.4%, ChannelAdvisor says
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08:44 EDTAMZNGerman watchdog launches probe into Apple, Amazon audio books pact, Reuters says
Germany's Federal Cartel Office has initiated a probe into Apple's (AAPL) arrangement with Amazon (AMZN) for buying audiobooks, Reuters reports. The watchdog said that both companies had a long-term agreement for the purchase of audio books by Apple from Amazon via Apple's iTunes, the report says. Reference Link
November 15, 2015
19:29 EDTMSFTMicrosoft delays, possibly kills tool to translate Android apps, Re/code says
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November 13, 2015
16:26 EDTAMZNStocks end week lower as retail gets routed
Stocks ended the week sharply lower after weak retail earnings reports, highlighted by Macy's (M), were followed by a worse than expected government report on retail sales performance in October. MACRO NEWS: In the U.S., retail sales rose 0.1% in the month of October, versus expectations for an increase of 0.3%. When autos and gas are removed, the core reading was up 0.3%, versus expectations for a rise of 0.4%. Producer prices fell 0.4%, versus expectations for them to be up 0.2%. When food and energy are removed, the core reading was down 0.3%, versus expectations for it to be up 0.1%. Business inventories grew 0.3% in September while sales were flat compared to August. Consumer sentiment, as measured by the preliminary print from the University of Michigan survey, improved 3.1 points to 93.1 in November, which was better than the 91.5 reading that was expected. In Europe, data showed that eurozone's economy grew by just 0.3% in the third quarter, which was a slowdown from the 0.4% GDP growth recorded three months earlier and weaker than the 0.4% consensus growth forecast. In China, exports declined for a fourth straight month in October, sliding 3.6%, while imports fell for a 12th straight month, declining 16% in yuan terms. China's foreign-exchange reserves rose in October for the first time in six months, increasing to $3.53T from $3.51T at the end of September, the People's Bank of China reported. Industrial output in China rose 5.6% in October, matching March's reading as the weakest since 2008. Retail sales climbed 11% last month, beating expectations. COMPANY NEWS: Shares of retailers broadly declined following disappointing earnings reports and commentary from a number of department store operators, including Macy's, Nordstrom (JWN) and J.C. Penney (JCP). Weather was cited by a number of them, and analysts also pointed to the continued rise in competition felt by brick-and-mortar retailers from e-commerce players, mainly (AMZN)... Among earnings reporters outside of the retail sector, Viacom (VIAB) and Rackspace (RAX) rose immediately following their reports, while Cisco (CSCO), Priceline (PCLN), Hertz (HTZ), and Advance Auto Parts (AAP) fell right after their own... During the company's investor meeting, McDonald's (MCD) raised its global refranchising target to 4,000 restaurants through 2018 with a new long-term goal to become 95% franchised, announced plans to increase its dividend by 5% and said that after "robust" debate it had decided to not pursue a REIT spin-off transaction for its real estate holdings... Anheuser-Busch InBev (BUD) and SABMiller (SBMRY) came to terms on a deal to combine the companies in a transaction worth $107B. In relation to their deal, Molson Coors (TAP) agreed to purchase SABMiller's 58% stake in MillerCoors, the joint venture formed in the United States in 2008, in a deal valued at $12B. Molson Coors was the biggest winner in terms of percentage stock gains immediately following the announcements, rising over 4% on Wednesday... Mylan (MYL) jumped after the company's offer to acquire Perrigo (PRGO) failed, ending a seven-month fight between the two drugmakers. Perrigo Chief Executive Officer Joseph Papa said he was "delighted" that his company's shareholders rejected the offer and the company added that it will immediately commence its previously announced $2B share buyback program, but its shares slid in the wake of the shareholder vote... PayPal (PYPL) shares saw three straight days of losses after the Wall Street Journal reported that Apple (AAPL) is working on a mobile payments service that could compete with the firm's Venmo platform... Angie's List (ANGI) advanced after IAC/InterActiveCorp (IACI), the parent company of HomeAdvisor, made public a $8.75 per share cash buyout offer. Yelp (YELP), which also connects people with local businesses via its web-based and mobile services, also rose following the revelation of the takeout bid for Angie's List... Alibaba Group (BABA) reported blockbuster sales for the 11.11 shopping festival, better known as "Singles' Day." By the end of Wednesday in China, gross merchandise volume on Alibaba's platforms hit $14.3B, far exceeding last year's 24-hour total of $9.3B and topping the company's $11B forecast. INDEXES: The Dow lost about 3.7% to close at 17,245.24, the S&P 500 fell about 4.25% to close at 2,023.04, and the Nasdaq declined about 3.6% to close at 4,927.88.
16:00 EDTAMZN, MSFTOptions Update; November 13, 2015
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09:35 EDTAMZN, MSFTActive equity options trading on open
Active equity options trading on open: AAPL CSCO FB BAC BABA MSFT NFLX INTC JCP AMZN C
07:37 EDTAMZNAmazon Pantry launches for U.K. Prime users, Next Web reports
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06:33 EDTAMZNAmazon, Alibaba approached Wish over possible takeover, Business Insider reports
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06:27 EDTMSFTMicrosoft brings major updates to Xbox One, WSJ reports
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