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Stock Market & Financial Investment News

News Breaks
January 8, 2013
09:55 EDTNILE, NILE, NILE, EBAY, EBAY, EBAY, COST, COST, COST, M, M, M, JWN, JWN, JWN, UA, UA, UA, WMT, WMT, WMT, RSH, RSH, RSH, AMZN, AMZN, AMZNMorgan Stanley analysts hold a conference call on the eCommerce industry
Internet & Consumer Software Analyst Devitt, Specialty Softlines Analyst Greenberger, Hardlines Analyst Gober, Food & Drug Analyst Wiltamuth and Branded Apparel Analyst Parkhill hold an Analyst/Industry conference call entitled, "eCommerce Disruption: Transforming Traditional Retail". Relevant companies Amazon, Blue Nile, eBay, Costco, Macy, Nordstrom, Under Armour, Walmart and Radio Shack may be among the companies discussed on the Analyst/Industry conference call to be held on January 9 at 10 am.
News For AMZN;NILE;EBAY;COST;M;JWN;UA;WMT;RSH From The Last 14 Days
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December 9, 2014
07:55 EDTAMZNAmazon.com continuing to gain share, says Pacific Crest
After conducting a consumer technology survey, Pacific Crest reports that 81% of respondents plan to shop at Amazon this holiday, while 31% plan to do most or nearly all of their online holiday shopping on the website. The firm thinks the company is continuing to gain share and it recommends buying the stock.
07:29 EDTCOSTCostco December weekly volatility increases into Q1 and outlook
Costco December weekly call option implied volatility is at 32, December is at 16, January is at 15, April is at 14; compared to its 26-week average of 16 according to Track Data suggesting larger near term price movement into the expected release of Q1 results on December 10.
06:29 EDTAMZNAmazon warns of moving more drone research abroad, WSJ reports
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06:23 EDTAMZNAmazon.com testing faster deliveries through bikes, drones, WSJ reports
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06:16 EDTAMZNAmazon unveils 'Make an Offer' for customers to negotiate lower prices
Amazon.com has announced the "Make an Offer" experience that allows customers to negotiate even lower prices on thousands of items. Expanding on Amazonís traditional fixed price model, the new pricing feature allows customers to offer to buy items at even lower prices. If agreed upon, customers can then purchase the items at a savings from the listed price. To start, more than 150,000 items from sellers on Amazon are enabled with the "Make an Offer" experience across Sports and Entertainment Collectibles, Collectible Coins and Fine Art. The new feature will expand to hundreds of thousands of items from sellers in 2015. The "Make an Offer" feature is not an auction format. All negotiations are 1:1 and private between individual customers and sellers. A seller is able to accept a customerís offer at any time. The intention is to lower prices, and a customer negotiating with a seller will never pay more than the listed price.
05:34 EDTEBAY, AMZNChannelAdvisor says Amazon November SSS up 35.7%, eBay up 9.8%
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December 8, 2014
16:24 EDTWMTOn The Fly: Closing Wrap
Stocks on Wall Street were lower amid another drop in crude oil prices, which tumbled to five-year lows. The market opened slightly lower following weaker than expected data from China and Japan, with nothing of note on the domestic calendar to get buyers involved in the dayís activity. Near noon, the averages gained downside momentum and though the market pared its losses several times, it was never able to gain any steam to pull the indexes back into the green. ECONOMIC EVENTS: In the U.S., no major economic data was released. In Asia, Chinese exports rose 4.7% from a year earlier in November, which missed the consensus estimate for an 8% increase. Chinese imports fell 6.7% from the prior year last month, compared with projections for a 3.8% increase. Additionally, Japan's revised third quarter gross domestic product estimate showed the economy shrank more than initially thought, with growth contracting an annualized 1.9%. COMPANY NEWS: Shares of Cubist Pharmaceuticals (CBST) surged $26.24, or 35.29%, to $100.60 after Merck (MRK) agreed to acquire the maker of next-generation antibiotics for $102 per share in cash, or $8.4B and the assumption of $1.1B in debt. A number of other antibiotic makers also climbed, including Tetraphase (TTPH), which rose $2.45, or 8.82%, to $30.24, and Cempra (CEMP), which advanced $1.64, or 11.37%, to $16.06, while shares of Merck finished fractionally higher, adding 39c, or 0.63%, to $61.88 following the deal announcement. MAJOR MOVERS: Among the notable gainers following their presentations at the American Society of Hematology, or ASH, annual meeting were Calithera Biosciences (CALA), which gained $2.38, or 22.52%, to $12.95, and Acceleron Pharma (XLRN), which jumped $5.11, or 13.6%, to $42.67. Among the noteworthy losers was McDonald's (MCD), which fell $3.70, or 3.84%, to $92.61 after the Dow member reported a 2.2% decline in global same-restaurant sales in November. Additionally, the fast-food giant warned that its fourth quarter results would be hurt by its sales pressures, supplier issues in China and a stronger U.S. dollar. Also lower were shares of Liquidity Services (LQDT), which plunged $2.77, or 27.0%, to $7.49 after the company disclosed that Wal-Mart (WMT) had terminated a deal to provide it with surplus merchandise. INDEXES: The Dow fell 106.31, or 0.59%, to 17,852.48, the Nasdaq dropped 40.06, or 0.84%, to 4,740.69, and the S&P 500 slipped 15.06, or 0.73%, to 2,060.31.
16:00 EDTAMZNOptions Update; December 8, 2014
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13:52 EDTEBAYeBay advances slightly in down tape after Stifel upgrades shares
Shares of eBay (EBAY) are rising slightly in a down market after research firm Stifel upgraded the stock to Buy from Hold. WHAT'S NEW: The risk/reward ratio on eBay appears to be favorable, Stifel analyst Scott Devitt wrote in a note to investors today. In the most likely scenario for the company, the shares could increase as high as about $65 from their current level of around $55, but are unlikely to drop much below $50, Devitt believes. In a possible bullish scenario, the shares could go up to $75, the analyst stated. The spin off of eBay's PayPal business, expected to occur within nine months, should be a significant catalyst for the stock, while the gross merchandise volume generated by the company's marketplaces business should accelerate in the second half of next year, wrote Devitt. Marketplaces comparisons become easier starting in the second half of the year, the analyst explained. Additionally, eBay will begin to emphasize that the percentage of e-commerce transactions processed by PayPal is increasing, Devitt stated. Meanwhile, eBay's valuation is "compelling," and the upcoming spin-off reminds Devitt of the separation of Expedia (EXPE) and TripAdvisor (TRIP), which proved to be a positive catalyst, he wrote. Devitt set a $65 price target on the shares. PRICE ACTION: In mid-afternoon trading, eBay gained 17c, or 0.3%, to $54.97.
12:40 EDTWMTOn The Fly: Midday Wrap
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10:49 EDTWMTLiquidity Services plunges after Wal-Mart seeks to end supply deal
Shares of Liquidity Services (LQDT) are tumbling after the company disclosed that Wal-Mart (WMT) had terminated a deal to provide it with merchandise. Liquidity Services operates an auction marketplace that features surplus and salvaged items. WHAT'S NEW: Liquidity Services reported after Friday's market close in a regulatory filing that Wal-Mart had decided to stop supplying products to Liquidity Services.The auction company noted that it had previously had the right to purchase certain consumer items that have been removed from Wal-Mart's shelves. However, Wal-Mart, on December 1, reported to the company that it would terminate the deal, effective today. Wal-Mart is alleging that Liquidity Services violated certain requirements of the agreement between the companies, Liquidity Services stated. However, the auction company disputed Wal-Mart's assertions and said it was "evaluating all its options" before determining how to proceed. Liquidity Services indicated that it still expects to meet its guidance for its December quarter results. ANALYST REACTION: In a note to investors today, Colin Sebastian, an analyst at research firm Robert W. Baird, predicted that the loss of the contract would have a significant impact on Liquidity Services' results starting in 2015. However, he believes that the extent of the impact on the company's earnings before interest taxes depreciation and amortization will depend on its ability to manage its expenses. The analyst cut his price target on the name to $9 from $12 and kept a Neutral rating on the shares. Meanwhile, Janney Capital analyst Shawn Milne wrote that Liquidity Services had previously disclosed that Wal-Mart accounted for 11% of its gross merchandise volume in fiscal 2014. Milne predicted that the termination of the deal would reduce Liquidity Services' annual EBITDA by less than $10M. He also kept a Neutral rating on the stock. PRICE ACTION: In early trading, Liquidity Services sank 25% to $7.70.
10:03 EDTWMTLiquidity Services price target lowered to $9 from $12 at RW Baird
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10:00 EDTEBAYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Antero Resources (AR) upgraded to Buy from Neutral at Citigroup... Apache (APA) upgraded to Buy from Neutral at Citigroup... Applied Materials (AMAT) upgraded to Buy from Hold at Deutsche Bank... Arch Capital (ACGL) upgraded to Outperform from Market Perform at BMO Capital... CU Bancorp (CUNB) upgraded to Buy from Hold at Sandler O'Neill... Calpine (CPN) upgraded to Outperform from Neutral at Macquarie... Commerzbank (CRZBY) upgraded to Market Perform from Underperform at Keefe Bruyette... EastGroup Properties (EGP) upgraded to Neutral from Underperform at Credit Suisse... Enbridge Energy Management (EEQ) upgraded to Equal Weight at Morgan Stanley... Enbridge Energy (EEP) upgraded to Equal Weight from Underweight at Morgan Stanley... GasLog (GLOG) upgraded to Buy from Hold at Stifel... Hoegh LNG (HMLP) upgraded to Buy from Neutral at UBS... Illinois Tool Works (ITW) upgraded to Buy from Accumulate at Global Hunter... LaSalle Hotel (LHO) upgraded at Morgan Stanley... Lufthansa (DLAKY) upgraded to Buy from Neutral at Nomura... NASDAQ (NDAQ) upgraded to Outperform from Market Perform at Keefe Bruyette... Newfield Exploration (NFX) upgraded to Buy from Neutral at Citigroup... Omega Healthcare (OHI) upgraded to Buy from Hold at Jefferies... Orange SA (ORAN) upgraded to Conviction Buy from Neutral at Goldman... SM Energy (SM) upgraded to Outperform from Market Perform at BMO Capital... Southwest (LUV) upgraded at Goldman... TSMC (TSM) upgraded to Buy from Neutral at BofA/Merrill... United Technologies (UTX) upgraded at Bernstein... eBay (EBAY) upgraded to Buy from Hold at Stifel.
09:20 EDTWMTLiquidity Services estimate cuts possible on Wal-Mart fight, says Janney Capital
After Liquidity Services (LQDT) disclosed that Wal-Mart (WMT) terminated its return agreement and that the two are now in dispute over the deal, Janney Capital noted Liquidity 's recent 10K filing indicated that Wal-Mart accounted for 11% of FY14 gross merchandise volume, including Commercial Capital assets. Janney estimates the full year EBITDA impact from the contract to be somewhere below $10M, but said there is a potential for further estimate cuts given the dispute. The firm maintains its Neutral rating on Liquidity Services shares.
09:13 EDTWMTLiquidity Services reports Walmart terminates return agreement
Liquidity Services (LQDT) had previously acquired from ILJ Enterprises its business of purchasing closeouts, excess merchandise and customer returns for resale to retailers, wholesalers, and other third parties and consumers. In connection with the acquisition, the company, through one of its subsidiaries, assumed ILJís rights and obligations with Wal-Mart Stores (WMT). Under the Wal-Mart agreement, Liquidity Services has the exclusive right to purchase certain consumer products from Wal-Mart that have been removed from the sales stream of Wal-Martís retail operations. On December 1, Wal-Mart provided Liquidity Services written notice terminating the Wal-Mart Agreement, effective December 8. The termination notice alleges that the company failed to comply with certain provisions under the Wal-Mart agreement with respect to service level requirements and restrictions on the disposition of merchandise, Liquidity disclosed in a regulatory filing late Friday. The company disputes these allegations and is contesting the termination of the agreement with Wal-Mart. The company had been in negotiations with Wal-Mart to address Wal-Martís failure to honor the companyís exclusive right to purchase selected merchandise from Wal-Mart but was unable to reach a satisfactory resolution. The company is currently evaluating all of its options, reserves all rights with respect to this matter and will continue to seek appropriate relief from Wal-Mart for its failure to honor the companyís exclusive rights to purchase selected merchandise and any related actual damages the company has incurred. The company does not believe that the purported termination of the Wal-Mart Agreement will result in the company being unable to meet its financial guidance for its first fiscal quarter ending December 31, 2014, Liquidity Services stated.
08:50 EDTAMZNAmazon increasing robot fulfilment use faster than expected, says Janney Capital
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07:51 EDTRSHRadioShack denies claims of default under $250M credit agreement
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06:30 EDTAMZNAmazon's German workers strike again, WSJ reports
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06:10 EDTEBAYeBay upgraded to Buy from Hold at Stifel
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December 7, 2014
17:43 EDTRSHRadioShack looks to amend terms of loan from Salus, Bloomberg says
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