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News For AMZN;MSFT From The Last 14 Days
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November 11, 2015
12:45 EDTAMZNAmazon advances after analyst sees AWS benefiting from public cloud adoption
Shares of Amazon (AMZN) are advancing after Morgan Stanley raised its price target on shares, saying that it sees a growing opportunity in Amazon Web Services, or AWS. WHAT'S NEW: Morgan Stanley analyst Brian Nowak raised his price target on Amazon to $800 from $750 per share as he sees nearly 60% of the company's future profitability coming from AWS. Nowak, who maintained an Overweight rating on shares, says AWS "is driving and benefiting from accelerating public cloud adoption." The analyst pointed out that the firm is now including AWS in its base case valuation methodology. The analyst sees AWS driving almost 60% of the company's non-GAAP operating income over the next couple of years. WHAT'S NOTABLE: The analyst maintained that Amazon is now worth $800 per share even if North American retail margins improve only 300 basis points over the next five years and international margins expand to only 2% from the break-even level they are at currently. PRICE ACTION: Amazon shares are up $15.45, or 2.34%, to $675.13 in midday trading.
12:17 EDTAMZNOn The Fly: Top stock stories at midday
Stocks on Wall Street were slightly higher at midday following a morning of lackluster trading, which may be due to lower volume on account of the observance of Veteran's Day. There were four initial public offerings that priced and each opened above their offering; a better reflection of the syndicate market than several weeks ago when deals could not be completed. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet with no major announcements. U.S. bond markets are closed in observance of Veteran's Day. In China, industrial output rose 5.6% in October, matching March's reading as the weakest since 2008. Retail sales climbed 11% last month, beating expectations. COMPANY NEWS: In another sign of China's transition from a purely industrial economy to one driven more by consumption, 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, but shares of the Chinese e-commerce giant trading in New York slid 2%... Shares of Macy's (M) plunged over 13.5% and its peers followed it lower after the department store operator cut its outlook for fiscal year 2015 after reporting third quarter revenue that missed analysts' estimates. Macy's also said it will not be pursuing the formation of a real estate investment trust. Conversely, J.C. Penney (JCP) reported stronger than expected same-store sale growth and previewed that its soon-to-be reported earnings and gross margin performance in the third quarter exceeded its expectations, but the stock was caught in Macy's downdraft, falling about 2.5%... The boards of Anheuser-Busch InBev (BUD) and SABMiller (SBMRY) announced that they have reached agreement on the terms of a combination deal worth $107B. In relation to their deal, Molson Coors (TAP) entered into a definitive agreement to purchase SABMiller's (SBMRY) 58% stake in MillerCoors, the joint venture formed in the United States in 2008, in a transaction valued at $12B. MAJOR MOVERS: Among the notable gainers was Atmel (ATML), which rallied 4% after Dialog Semiconductor (DLGNF) said that it continues to "strongly" support its agreement to acquire Atmel. Also higher was Amazon (AMZN), which gained 2% after an analyst at Morgan Stanley raised his price target on the company's stock to $800 from $750M, citing the growing AWS opportunity. Among the noteworthy losers was Horizon Pharma (HZNP), which fell over 16% after Express Scripts (ESRX) cut ties with specialty pharmacy Linden Care, which is used by Horizon and Insys Therapeutics (INSY), which also dropped 9%. Also lower was SunEdison (SUNE), which lost another 14.5%, adding more losses to yesterday's post-earnings slide after UBS cut its price target on the company's shares to $6 from $9. In addition, Anadarko (APC) and Apache (APA) fell about 3.5% and 6%, respectively, after Anadarko confirmed that it sent a takeover proposal to Apache, which it later withdrew. INDEXES: Near midday, the Dow was up 3.87, or 0.02%, to 17,762.08, the Nasdaq was up 14.42, or 0.28%, to 5,097.66, and the S&P 500 was up 0.78, or 0.04%, to 2,082.50.
11:52 hits fresh life highs
The stock was last at $674.09, a fraction lower than the high of the day at $674.26. A move back to the high that then pushes past $675 would open up a run to $680 to $685. Support is at the $670 area.
09:38 EDTAMZNActive equity options trading on open
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08:45 price target raised to $800 from $750 at Morgan Stanley
Morgan Stanley analyst Owen Hyde raised's price target to $800 from $750 on the growing AWS opportunity. Owen said AWS will contribute nearly 60% of Amazon's forward profitability driven by accelerating public cloud adoption and reiterates his Overweight rating.
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