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Stock Market & Financial Investment News

News For AMZN;NFLX;IBM;CRM;RAX;VMW From The Last 14 Days
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November 21, 2014
15:08 EDTAMZNOptions Update; November 21, 2014
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12:31 EDTAMZN, NFLXAmazon.com looking to launch new video streaming service, NY Post says
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10:47 EDTAMZNAmazon reported travel entry viewed positively by Piper's Munster
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10:38 EDTCRMJefferies says Microsoft, Salesforce.com, Symantec facing significant problems
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10:01 EDTCRM, AMZNOn The Fly: Analyst Initiation Summary
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09:49 EDTAMZNAmazon.com travel entrance could help margins, says Piper Jaffray
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09:36 EDTAMZNActive equity options trading
Active equity options trading according to Track Data: AAPL AMZN TSLA BIDU CLF DOW LVS BABA TWTR GILD
06:43 EDTAMZNAmazon.com initiated with a Buy at Nomura
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06:38 EDTAMZNAmazon could launch travel service, Skift reports
Amazon is planning on launching a travel service, according to a report from Skift. Amazon Travel, which will go live around January 1, will feature a selection of hotels, the publication says. Reference Link
06:21 EDTAMZNAmazon lease hints at same-day shipping, brick-and-mortar ambitions, WSJ says
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06:08 EDTAMZNFacebook working to expand drone team, Re/code reports
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06:01 EDTNFLXStocks with implied volatility below IV index mean; BHI NFLX
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November 20, 2014
18:21 EDTRAXOn The Fly: After Hours Movers
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17:05 EDTRAXRackspace founder, Chairman Graham Weston purchases $2.5M of company stock
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16:44 EDTVMWVMware initiated with a Buy at Jefferies
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16:11 EDTCRMSalesforce.com initiated with an Underperform at Jefferies
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15:44 EDTAMZNOptions Update; November 20, 2014
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14:52 EDTNFLXNetflix to discuss future of TV with top industry executives, Re/code says
Netflix is holding a summit about the future of TV next month, according to Re/code The company invited many of the leading executives from the TV and film industries to the private event, the website added. Reference Link
11:37 EDTCRMSalesforce.com weakness a buying opportunity, says FBN Securities
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09:36 EDTCRMActive equity options trading
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09:21 EDTCRMOn The Fly: Pre-market Movers
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09:08 EDTCRMSalesforce guidance in-line when forex adjusted, says Stephens
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08:06 EDTCRMSalesforce.com should be bought on weakness, says Oppenheimer
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07:29 EDTCRMSalesforce.com price target raised to $70 from $65 at Canaccord
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06:48 EDTNFLXNetflix's Kelly Merryman to join YouTube, TechCrunch reports
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06:39 EDTNFLXStocks with implied volatility below IV index mean; GNW NFLX
Stocks with implied volatility below IV index mean; Genworth (GNW) 53, Netflix (NFLX) 31 according to iVolatility.
06:30 EDTAMZNAmazon using robots to help speed delivery, WSJ reports
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05:17 EDTAMZNAmazon.com to start Black Friday deals on Friday, Nov. 21
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November 19, 2014
19:16 EDTNFLXNetflix orders fourth season of Longmire
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18:22 EDTCRMOn The Fly: After Hours Movers
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17:52 EDTCRMSalesforce.com down 4.5% to $58.26 after reporting Q3 results, guidance
16:21 EDTCRMSalesforce.com COO to take leave of absence for up to 6 months
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16:15 EDTCRMSalesforce.com sees FY16 revenue $6.45B-$6.50B , consensus $6.66B
16:09 EDTCRMSalesforce.com narrows FY15 EPS 51c-52c, consensus 52c
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16:08 EDTCRMSalesforce.com falls after results
In the extended session the shares are down 4.3% to $58.27 following the initial release of earnings. At that price next support is at $57.45, while resistance is at $59.97.
16:07 EDTCRMSalesforce.com sees Q4 EPS 13c-14c, consensus 15c
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16:06 EDTCRMSalesforce.com reports Q3 EPS 14c, consensus 13c
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15:31 EDTCRMNotable companies reporting after market close
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14:25 EDTNFLX, AMZNOptions Update; November 14, 2014
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13:29 EDTNFLXCharter CEO sees Comcast, Time Warner Cable deal getting done
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13:21 EDTCRMSalesforce.com November 61 straddle priced for 4.5% move into Q3
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10:11 EDTAMZNJetPay names Pete DuPré as Chief Information Officer
JetPay (JTPY) announced the hiring of Pierre "Pete" J. DuPré as Chief Information Officer of the company. DuPré will be leading the company’s efforts to expand our product offering and as well as add new functionalities to our current products and services. DuPré's most recent position was with Amazon Web Services (AMZN), where he served as a Technology Transformation Advisor.
10:00 EDTRAXOn The Fly: Analyst Initiation Summary
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09:39 EDTAMZN, NFLXActive equity options trading on open
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09:38 EDTNFLXCCS Insight predicts Netflix to be acquired next year, FT reports
CCS Insight, a U.K.-based technology research firm, is predicting that a major internet player such as Yahoo (YHOO), Alibaba (BABA) or Google (GOOG) will buy Netflix (NFLX) next year, reported Financial Times. Reference Link
09:02 EDTIBMVeolia Environment, IBM announce new partnership
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09:01 EDTAMZNAmazon says Fire TV Stick begins shipping today
Amazon announced that Fire TV Stick started shipping today. Fire TV Stick costs $39.
06:34 EDTAMZN, NFLXNielsen to begin measuring viewing of subscription video services, WSJ reports
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06:00 EDTNFLXStocks with implied volatility below IV index mean; PCLN NFLX
Stocks with implied volatility below IV index mean; Priceline (PCLN) 22, Netflix (NFLX) 29 according to iVolatility.
05:36 EDTRAXRackspace initiated with an Overweight at Barclays
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November 18, 2014
17:40 EDTNFLXNetflix to launch in Australia, New Zealand in March, 2015
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15:05 EDTAMZNcomScore sees 2014 U.S. holiday e-commerce spending up 16% to $61B
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13:36 EDTCRMSalesforce.com November volatility elevated into Q3 and outlook
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12:47 EDTAMZNEarnings Preview: Lowe's shares up over 15% since last earnings report
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11:48 EDTIBMIBM introduces new e-mail application for business
IBM announced earlier today that it is reinventing enterprise email with a new freemium social collaboration offering that uses built-in analytics to give individuals a new way to converse, find the right people and information fast, and get work done. The company added, "IBM Verse stems from the company's $100M investment in design innovation and brings together its leading cloud, analytics, social and security platforms to transform the future of work. IBM Verse takes a vastly different approach to enterprise email by integrating the many ways employees connect each day – via email, meetings, calendars, file sharing, instant messaging, social updates, video chats and more – through a single collaboration environment. It is the first messaging system to feature 'faceted search,' which enables users to pinpoint and retrieve specific information they're seeking across all the various types of content within their email. IBM Verse uses built-in analytics to provide an 'at-a-glance' view that intelligently surfaces an individual's most critical actions for the day. By learning unique employee preferences and priorities over time, it provides instant context about a given project as well as the people and teams collaborating on it. This is in contrast to most freely available mail services that mine a user's inbox to increase advertising and monetize that data in other ways – an unwelcome proposition for business users concerned about privacy or which operate in regulated industries such as healthcare and finance.Clients using IBM Verse will also have the future option to embed a Watson feature into their collaboration environment, which enables users to query Watson on a given topic and receive a direct reply with answers ranked by degree of confidence."
09:29 EDTAMZNAmazon.com Q4 revenue tracking to $29.66, says ITG Research
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07:56 EDTCRMSalesforce.com remains a top large cap growth pick at BofA/Merrill
BofA/Merrill reiterates Salesforce.com as a top large cap growth pick for 2014 based on potential for accelerating operating income and TAM of $100B. Shares are Buy rated with a $73 price target.
07:36 EDTIBMUBS to hold a conference
Global Technology Conference to be held in Sausalito, California on November 18-20 with webcasted company presentations to begin on November 18 at 10:45 am; not all company presentations may be webcasted. Webcast Link
06:57 EDTIBMCray price target raised to $40 from $35 at Stifel
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06:04 EDTAMZNAmazon Fresh grocery delivery expands to Philadelphia
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05:57 EDTNFLXStocks with implied volatility below IV index mean; PCLN NFLX
Stocks with implied volatility below IV index mean; Priceline (PCLN) 22, Netflix (NFLX) 30 according to iVolatility.
05:29 EDTIBMIBM signs EUR 1B contract with Lufthansa
IBM (IBM) announced that it has signed a seven-year EUR 1B outsourcing contract to deliver IT infrastructure services for the Deutsche Lufthansa AG (DLAKY) and its Group companies. According to the agreement, which is subject in particular to the approval of the Lufthansa Supervisory Board and antitrust authorities, IBM will first optimize the airline's IT processes to increase efficiency, which is expected to generate an estimated cost savings by an average of approximately EUR 70M annually for the Lufthansa Group. This agreement is in line with the terms and conditions as published already in October. As part of the outsourcing agreement, IBM will manage Lufthansa Systems' entire data center operations, help desk and printer services along with individual infrastructure services. Around 1,400 Lufthansa Systems employees will transfer to IBM. Infrastructure services are scheduled to begin from IBM on April 1, 2015. The contract was signed November 15, 2014.
November 17, 2014
16:00 EDTAMZNOptions Update; November 17, 2014
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12:03 EDTRAXOptions with decreasing implied volatility
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10:02 EDTAMZNAmazon SSS up 36% in second week November, eBay up 10%, ChannelAdvisor says
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09:36 EDTAMZNActive equity options trading
Active equity options trading according to Track Data: AAPL PBR BHI GILD MU HD AMZN TSLA YHOO FB TWTR
08:40 EDTAMZNOppenheimer technology analysts hold an analyst/industry conference call
Technology Analysts discuss Amazon's recently-held AWS re:Invent Conference, as well as implications for other cloud and software companies in the Technology sector, on an Analyst/Industry conference call to be held on November 17 at 9 am.
07:52 EDTIBMDepartment of Energy awards $425M for supercomputing technologies
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November 14, 2014
17:07 EDTNFLXSoros Fund Management gives quarterly update on stakes
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17:01 EDTNFLXIcahn Associates gives quarterly update on stakes
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16:58 EDTRAXThird Point gives quarterly update on stakes
NEW STAKES: Alibaba (BABA), eBay (EBAY), Bed Bath & Beyond (BBBY), Shire (SHPG), and Parker Hannifin (PH). INCREASED STAKES: Actavis (ACT), Amgen (AMGN), EQT (EQT), Sensata (ST), Coca-Cola Enterprises (CCE). DECREASED STAKES: Williams Cos (WMB), Ally Financial (ALLY), Cheniere Energy (LNG), YPF (YPF), and FedEx (FDX). LIQUIDATED STAKES: AIG (AIG), T-Mobile (TMUS), Rackspace (RAX), Hertz (HTZ), and Citrix Systems (CTXS).
16:39 EDTIBMBerkshire Hathaway gives quarterly update on stakes
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16:26 EDTCRMNasdaq clear leader as major averages end week higher
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16:01 EDTNFLXOptions Update; November 14, 2014
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13:52 EDTVMWVMware volatility at low end of historic range
VMware November call option implied volatility is at 22, December is at 23, January is at 20, April is at 25; compared to its 26-week average of 31 according to Track Data, suggesting decreasing price movement.
11:37 EDTNFLXNetflix shuts down public API today, Gigaom reports
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10:10 EDTRAXOptions with decreasing implied volatility
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09:38 EDTAMZNActive equity options trading
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06:19 EDTNFLXStocks with implied volatility below IV index mean; PCLN NFLX
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06:16 EDTAMZNEU says Starbucks tax deal in Netherlands may be illegal state aid, WSJ says
The European Union said the tax deal struck by Starbucks (SBUX) in the Netherlands amounts to illegal state aid, reports the Wall Street Journal. European Commission regulators said it reached a preliminary view that the tax deal violated guidelines produced by the Organization for Economic Cooperation and Development. It said the tax deal "tolerates questionable adjustments which allow Starbucks Manufacturing BV to lower the resulting corporate income tax basis in the Netherlands." The EU is also investigating tax arrangements of Apple (AAPL) in Ireland and Amazon (AMZN) and Fiat S.p.A. (FIATY) in Luxembourg. Reference Link
November 13, 2014
16:03 EDTAMZNOptions Update; November 13, 2014
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13:28 EDTIBMBlackBerry hits 52-week high after unveiling partnerships
Shares of BlackBerry (BBRY) hit a new 52-week high after the company announced three new partnership deals. The company is slated to hold its analyst day today, starting at 3:30 PM ET. WHAT'S NEW: BlackBerry announced that it would partner with Samsung to provide a security solution for the South Korean company's mobile devices that utilize Google's (GOOG) Android operating system. Under the deal, BlackBerry’s BES12, an Enterprise Mobility Management system, or EMM that was launched today, will be integrated with some of Samgung's Galaxy smartphones and tablets. BES 12 "securely manages devices from all of the major enterprise mobile platforms" and "will help organizations securely connect employees with each other and with the corporate information and machines” they need, BlackBerry stated. Also today, Blackberry announced that it would connect its EMM solutions to Salesforce's (CRM) top customer relationship management platform. "This agreement will allow Salesforce and BlackBerry joint customers to run their businesses from their phone while complying with specific industry regulations," said Vivek Kundra, a Salesforce Executive Vice President in a statement. "BlackBerry has an excellent reputation in security and networks, and when matched with the Salesforce Customer Success Platform, public sector organizations can use their mobile devices to connect with customers in a whole new way," added Kundra. Finally, BlackBerry announced that Brightstar would distribute BES 12. BlackBerry described Brightstar as "the world's largest wireless distribution company and leader in services for the wireless industry." WHAT'S NOTABLE: BES12 is expected to compete with Apple (AAPL) in the enterprise space. Apple earlier this year announced that it was partnering with IBM (IBM) in an effort to sell more products to corporate customers. PRICE ACTION: In mid-afternoon trading, BlackBerry jumped 6% to $11.95. Earlier today the shares set a new 52-week high of $12.05.
12:03 EDTCRMBlackBerry announces agreement with Salesforce.com
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12:02 EDTIBMIBM signs 10-year, large-scale services agreement with WOOX Innovations
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11:43 EDTAMZNAmazon.com, Hachette end dispute, New York Times reports
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10:44 EDTRAXOptions with decreasing implied volatility
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10:01 EDTVMWOn The Fly: Analyst Initiation Summary
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09:01 EDTRAXRackspace appoints Todd Cione as Chief Revenue Officer
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08:24 EDTCRMSalesforce.com November volatility elevated into Q3 and outlook
Salesforce.com November call option implied volatility is at 50, December is at 38, January is at 33; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 19.
08:14 EDTVMWVMware initiated with a Buy at Maxim
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06:20 EDTAMZNAmazon's Web-services chief not threatened by cash threat from rivals, WSJ says
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November 12, 2014
17:02 EDTCRMSalesforce.com signs agreement to purchase 50 Fremont Street building
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16:00 EDTAMZNOptions Update; November 12, 2014
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15:08 EDTVMWEarnings Preview: Cisco reports amid analyst debate on break-up potential
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14:08 EDTVMWIntel reports 427.7K share position in Rocket Fuel
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13:47 EDTAMZNEarnings Preview: Wal-Mart sees FY15 net sales up 2%-3% vs. last year
Wal-Mart Stores (WMT) is scheduled to report third quarter earnings before the market open on Thursday, November 13, with a conference call scheduled for 7:00 am ET. Wal-Mart, a member of the Dow Jones Industrial Average, operates retail stores in various formats under 69 different banners in 27 countries with its "everyday low price" philosophy. EXPECTATIONS: Analysts are looking for earnings per share of $1.12 on revenue of $118.35B, according to First Call. The consensus range for EPS is $1.08-$1.17 on revenue of $115.17B-$119.67B. LAST QUARTER: Wal-Mart reported second quarter EPS of $1.21, in line with estimates, on revenue of $119.3B, against estimates of $119B. Walmart U.S. comp sales were flat for the 13-week period ended August 1, and U.S. net sales increased $1.9B, or 2.7%, to over $70B. Currency exchange rate fluctuations negatively impacted net sales by approximately $700M, the company said. Wal-Mart forecast Q3 EPS of $1.10-$1.20, with U.S. comp store sales relatively flat and Sam's Club comp sales, excluding fuel, slightly positive. and increased investments in Sam's Club membership programs. The company lowered its fiscal year 2015 EPS view to $4.90-$5.15 from $5.10-$5.45, against estimates at that time of $5.15. The new full year guidance reflects incremental investments in e-commerce and higher U.S. health-care costs than previously anticipated. The annual effective tax rate is projected to be between 32%-34%. NEWS: On its Q2 earnings conference call, Wal-Mart lowered its FY15 e-commerce sales growth forecast to 25%. In mid-October, Wal-Mart said that as a result of a tougher sales environment than it anticipated a year ago, it now expects to grow net sales for FY15 between 2%-3% on last year’s $473.1B. The company indicated in February that it expected net sales growth to be at the low end of its guidance provided last October of 3%-5%. The company sees fiscal year 2016 net sales growth of 2%-4%, or approximately $10B-$20B of net sales growth. The company said FY16 operating expenses will grow at a rate "somewhat faster" than sales growth and operating income will be flat to slightly down. Chief Executive Officer Doug McMillon said the company will invest less in stores and more in e-commerce. Wal-Mart sees FY15 capital investments of $12.5B-$13B and FY16 capital investments $11.6B-$12.9B. Wal-Mart also sees FY16 e-commerce and digital spending of $1.2B-$1.5B. Ahead of a holiday shopping season that may be fiercely promotional, Wal-Mart is testing a program to match online prices from rivals including Amazon.com (AMZN), reported the Wall Street Journal. The company announced the "New Black Friday" will include five days of deals. STREET RESEARCH: Cleveland Research said Wal-Mart's trends softened in September and October following a strong August driven by soft traffic and less promotional activity. The firm believes Wal-Mart is positioned to maintain share during the holidays, but sees "growing caution" on the consumer spending outlook. Baird said expectations for Wal-Mart appear to be muted into the Q3 report. The firm believes sales may remain lackluster and margins may slip in the near-term, but sees international as an opportunity. During the quarter, shares were initiated with a Neutral rating at Sterne Agee. PRICE ACTION: Wal-Mart shares are up 6.9% over the last three months but are only up 0.8% year-to-date. In early afternoon trading, Wal-Mart shares are up 0.4% to $79.35.
12:55 EDTAMZNAmazon to expand its R&D in Cambridge, UK, TechCrunch reports
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09:37 EDTAMZN, NFLXActive equity options trading
Active equity options trading according to Track Data: AAPL CLSN TWTR BABA NFLX TSLA AMZN CSIQ C
08:18 EDTNFLXNetflix CFO expects to expand as much or 'bit more' next year, Bloomberg says
Netflix CFO David Wells said the company plans a “sizable expansion” into new markets next year, projecting expansion on the order of this year or "even potentially a little bit more,” reported Bloomberg, citing Wells' comments at an RBC Capital Markets conference. Reference Link
07:48 EDTIBMWells Fargo to hold a conference
5th Annual Technology, Media & Telecom Conference is being held in New York on November 12-13.
07:13 EDTIBMIBM data solutions selected by Kenya Power
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06:03 EDTIBMAcacia Research enters into settlement and patent license agreement with IBM
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November 11, 2014
16:24 EDTRAXOn The Fly: Closing Wrap
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16:01 EDTAMZN, NFLXOptions Update; November 11, 2014
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13:08 EDTIBMIBM CFO says not looking for big, transformative acquisitions
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12:46 EDTRAXOn The Fly: Midday Wrap
Stocks on Wall Street were little changed at midday, as the light economic calendar and bond markets being closed in observance of Veteran's Day make for a quiet tone to the market. The averages have remained close to the flat line throughout the morning, as the major averages undergo a day of consolidation near their record levels. ECONOMIC EVENTS: In the U.S., the National Federation of Independent Business' small business optimism index came in at 96.1, which was up from the prior 95.3 figure and roughly matched the consensus forecast. In Asia, Japan's Prime Minister Shinzo Abe said that the country's intended second sales tax hike will be delayed, according to government sources cited by Reuters. COMPANY NEWS: Chinese e-commerce giant Alibaba (BABA) generated record sales during the Chinese Singles Day holiday and a number of research firms initiated coverage of the stock with upbeat notes. Alibaba stated on its official corporate news Twitter feed that its final Singles Day shopping festival gross merchandise volume exceeded $9.3B and the company's Executive Chairman Jack Ma made headlines by stating that the company's Alipay finance services arm will "definitely" go public. Additionally, Oppenheimer initiated coverage of Alibaba with an Outperform rating in a note to investors last night and HSBC earlier today initiated coverage of Alibaba with an Overweight rating and a Street-high price target of $148 per share. Despite all of this, the stock appeared to have a "sell-the-news" reaction to the Singles Day event, as its shares fell about 3% in midday trading. MAJOR MOVERS: Among the notable gainers was Rackspace (RAX), which rallied 13.5% after the cloud computing service provider reported better than expected third quarter results and announced a $500M share repurchase plan. Also higher was ICU Medical (ICUI), which rose 14% and was upgraded at Roth Capital and Piper Jaffray following its second consecutive better than expected quarterly report. Among the noteworthy losers was Vivint Solar (VSLR), which tumbled over 21% after the company reported steeper than expected losses in its first quarterly report since coming public last month. Also lower following its first earnings report since coming public was e-commerce home goods retailer Wayfair (W), which dropped 13% despite posting revenues that beat the consensus forecast and Pacific Crest and Wells Fargo making positive comments on its results. INDEXES: Near midday, the Dow was down 9.89, or 0.06%, to 17,603.85, the Nasdaq was up 1.67, or 0.04%, to 4,653.29, and the S&P 500 was little changed at 2,038.15.
12:09 EDTRAX, VMWRackspace soars after Q3 results top estimates, $500M share buyback plan
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09:37 EDTAMZNeBay October SSS up 4.4%, Amazon SSS up 32.4%, ChannelAdvisor says
ChannelAdvisor released October same-store sales data for eBay (EBAY) and Amazon (AMZN) in a blog post. The research company reported eBay's October SSS growth came in at 4.4%, down from September's 8.9% and below the e-commerce growth rate of about 15% reported by ComScore. Amazon's October SSS growth came in at 32.4%, which was a decrease compared to August's 37.9% rate, ChannelAdvisor stated. Reference Link
09:37 EDTRAXActive equity options trading
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08:42 EDTRAXRackspace buyback likely to push shares higher, says Needham
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08:42 EDTVMWEMC returns could be limited after potential spin off, says Bernstein
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08:13 EDTRAXRackspace reported strong Q3 results, says Oppenheimer
Oppenheimer believes that Rackspace's Q3 results showed very strong trends, and it thinks the company's revenue/EBITDA growth can reach high teen percentage levels in 2015-2016. The firm keeps a $62 price target and Outperform rating on the shares.
07:51 EDTRAXRackspace price target raised to $50-$52 from $42-$46 at Wells Fargo
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06:03 EDTAMZNQ4 global tablet shipments estimated at 74.5M units, DigiTimes reports
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November 10, 2014
18:32 EDTRAXOn The Fly: After Hours Movers
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17:10 EDTRAXRackspace CEO says buyback an example of confidence in future
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17:08 EDTRAXRackspace CEO says management 'feels good' about Q4 pipeline
16:50 EDTRAXRackspace CEO says company is committed to revenue growth, margin
Comments provided during Q3 earnings conference call.
16:44 EDTNFLXOn The Fly: Closing Wrap
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16:42 EDTRAXRackspace up 2% to $38 after Q3 results, $500M share buyback
16:40 EDTRAXRackspace says joined Microsoft Cloud OS Network
Rackspace (RAX) said it expanded its Managed Private Cloud product portfolio and joined the Microsoft (MSFT) Cloud OS Network, adding Fanatical Support for the Microsoft Cloud Platform. It stated, "This includes expertise and support for Windows Server with Hyper-V, System Center and Azure Pack. The offering is now in general availability in all U.S. data centers providing customers with SLA-backed management across the underlying infrastructure, guest operating systems, and select applications including Microsoft Exchange, SharePoint and Lync."
16:39 EDTRAXRackspace says Q4 revenue outlook includes negative FX impact
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16:37 EDTRAXRackspace announces $500M share repurchase plan
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16:10 EDTRAXRackspace sees Q4 adjusted EBITDA margin 33%-35%
16:09 EDTRAXRackspace sees Q4 EPS $469M-$476M , consensus 476.51M
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16:08 EDTRAXRackspace reports Q3 EPS 18c, consensus 16c
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15:44 EDTAMZNAmazon Web Services to hold a conference
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15:26 EDTRAXNotable companies reporting after market close
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14:09 EDTNFLXBoehner strongly opposes net neutrality
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13:47 EDTRAXRackspace technical comments before earnings
The shares have broadly outperformed in the prior three months, trading up over 16%. Since a bearish gap down in September, the stock has been trending up. A look at a 1-year chart shows the importance of the $40 level. It has been touched as resistance several times over that interval, but without being able to break through for long. On stronger than expected news, a move to the $40 area would seem probable. If the news or outlook is sufficiently strong, there could be a breakout above $40. Such a breakout given the length of time the $40 area has been resistance would be long-term bullish for price. Additional upside objectives above $40 would be at $42.09 and then at $43.83. If the news is worse than expected, there are several points of support that could be tested as downside objectives: $34.70, $32.36, and $30.74. A move down through all of the levels noted would retrace the advance made in recent months nearly completely.
13:26 EDTNFLXCable providers fall after Obama weighs in on net neutrality
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12:24 EDTNFLXOn The Fly: Midday Wrap
Stocks on Wall Street were modestly higher at midday. The averages opened mixed, but very close to the flat line, and have continued to drift slowly higher from that point. There is little to stand in the way of the market’s drift, as the economic calendar is quiet, the earnings season is winding down, and the most closely watched geopolitical situations are currently status quo. ECONOMIC EVENTS: In the U.S., little of note was on the economic calendar. The Federal Reserve's newly introduced Labor Market Conditions Index was flat at 4 in October. The Fed started updating estimates of the LMCI every month beginning with last month. COMPANY NEWS: Shares of Netflix (NFLX) advanced about 1% after xxx President Barack Obama publicly urged the Federal Communications Commission to implement the "strongest possible rules" to protect net neutrality. In response, Verizon (VZ) said it supports the open Internet and continues to believe that the "light-touch regulatory approach in place for the past two decades has been central to the Internet’s success," adding that it believes the reclassification Obama called for would "apply 1930s-era utility regulation to the Internet" and be a "radical reversal of course" that would threaten great harm to an open Internet, competition and innovation." A number of Internet Service Providers, including Comcast (CMCSA), Time Warner Cable (TWC), Charter (CHTR) and Cablevision (CVC), moved lower after Obama weighed in on the hot-button issue. MAJOR MOVERS: Among the notable gainers was Achillion Pharmaceuticals (ACHN), which rose 22% after the company presented data from the ongoing Phase 2 study of its Hepatitis C virus treatment at the Annual Meeting of the American Association for the Study of Liver Diseases, or AASLD. Also higher was Dean Foods (DF), which rose more than 13% after the dairy products distributor’s third quarter results, as well as its fourth quarter and full year profit outlook, surpassed analysts’ consensus estimates. Among the noteworthy losers was Rayonier (RYN), which dropped 13% after management determined that there was a material weakness in the company's internal controls, restated certain previously made financial statements, and cut its dividend reflecting expectations of reduced cash available for distribution due to lower expected annual harvest levels. INDEXES: Near midday, the Dow was up 18.55, or 0.11%, to 17,592.48, the Nasdaq was up 10.77, or 0.23%, to 4,643.30, and the S&P 500 was up 4.01, or 0.2%, to 2,035.93.
10:28 EDTIBMIBM announces collaboration with with NVIDIA and Julich Supercomputing
IBM (IBM), in collaboration with NVIDIA (NVDA), and the Julich Supercomputing Center, part of the largest research center in Germany, announced plans for a new competency center to advance the creation and optimization of research applications on GPU-accelerated OpenPOWER compatible systems.
09:45 EDTNFLXObama urges FCC to enact 'strongest possible rules' to protect net neutrality
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09:43 EDTNFLXObama urges FCC to enact 'strongest possible rules' to protect net neutrality
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07:54 EDTCRMChecks on Salesforce.com positive, says Oppenheimer
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07:23 EDTNFLXRBC Capital to hold a conference
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07:12 EDTIBMCA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
05:58 EDTNFLXStocks with implied volatility below IV index mean; CHK NFLX
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