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Stock Market & Financial Investment News

News Breaks
March 13, 2014
12:40 EDTCALL, COVS, TSRO, MEI, AMZNOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as an initial bump from better than expected domestic economic data got overshadowed by poor data from China and increasing jitters about the situation in Ukraine. Stocks began the session slightly higher thanks in part to better than expected jobless claims and retail sales figures. The market moved higher at the open but then began to drift lower and crossed into negative territory a little over an hour into trading. Comments by Secretary of State Kerry that the U.S. and Europe would react to Russia on Monday if a dialogue had not taken place may have reignited anxiety about the still unsettled situation there. It certainly did not help the market tone that virtually all of the data released overnight by China missed expectations. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 9K from the revised total for the prior week to 315K in the week ended March 8. The 315K weekly figure was a three-month low and came in below the consensus forecast for 330K initial claims. Retail sales rose 0.3% in February compared to the previous month, beating an expected increase of 0.2%. The import price index for February rose 0.9% from the prior month, versus an expected increase of 0.5%. Business inventories grew 0.4% in January, which was in-line with the consensus estimate. In China, industrial output growth slowed to 8.6% in January and February compared to the prior year, which missed forecasts of 9.5% and is down from 9.7% in December. Property sales, fixed-asset investment and retail sales for the two months all also dropped and came in below forecasts. Note that China publishes January and February numbers together to smooth out distortions caused by the timing of the lunar new year. COMPANY NEWS: Amazon.com (AMZN) shares were up 1% after the company announced an increase in the price of its Prime service for existing regular members to $99 from $79. During its fourth quarter results conference call in late January the e-commerce giant had said that it could raise the price for the Prime service by $20-$40 per year in the future. In a note to investors earlier today, UBS analyst Eric Sheridan reiterated his theory that Amazon would have to provide Prime users with additional services in order to justify the price increase. Sheridan first disseminated the theory on February 2 and today he noted that media outlets have reported that the company is developing a streaming music service. Another firm, Piper Jaffray, estimates Amazon's $20 Prime pricing increase could add about $800M in revenue and $150M in operating income through the first full year. Piper expects any increase in operating income would be reinvested back into the business and keeps an Overweight rating on Amazon with a $420 price target. MAJOR MOVERS: Among the notable gainers was TESARO (TSRO), which jumped 29% after the company signed a license agreement with AnaptysBio that Mizuho analyst Peter Lawson said provides the company access to multiple candidates in the "rapidly developing" cancer immunotherapy market. Also higher was magicJack (CALL), a provider of voice over Internet protocol services in the United States, which surged 17% after its fourth quarter results and guidance significantly surpassed analysts' consensus estimate. Among the noteworthy losers was Covisint (COVS), which dropped 24% after it gave a preliminary Q4 revenue view that missed forecasts and named a new interim CEO. Also lower was Methode Electronics (MEI), which fell 13% after the company's third quarter profit missed expectations following two straight "beat and raise" reports in its past two quarters. INDEXES: Near midday, the Dow was down 130.95, or 0.8%, to 16,209.13, the Nasdaq was down 41.09, or 0.95%, to 4,282.24, and the S&P 500 was down 12.98, or 0.69%, to 1,855.22.
News For AMZN;TSRO;CALL;MEI;COVS From The Last 14 Days
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June 19, 2015
05:52 EDTAMZNStocks with implied volatility movement; AMZN QCOM
Stocks with implied volatility movement; Amazon.com (AMZN) 24, Qualcomm (QCOM) 19 according to iVolatility.
05:40 EDTTSROTESARO a favorite stock for second half of year at Mizuho
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June 18, 2015
12:04 EDTAMZNActive options: AAPL ORCL FB RAD BAC HTZ MU GE TSLA AMZN BABA KO
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10:54 EDTAMZNAmazon says long-term pact struck with publisher Penguin, AP reports
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09:35 EDTAMZNActive equity options trading on open
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08:14 EDTAMZNAmazon.com international EGM revenues poised to accelerate, says Bernstein
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08:04 EDTAMZNGoogle accelerating pace of cloud product innovation, says Baird
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June 17, 2015
13:43 EDTAMZNAmazon.com says 30-minute delivery by drone on the horizon, AP reports
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09:16 EDTAMZNAmazon.com introduces new Kindle Paperwhite
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09:08 EDTAMZNFedEx says properly identified delivery people an 'important issue'
FedEx (FDX) executives, responding to a question about "a prominent user of parcel services," likely referring to Amazon.com (AMZN), reportedly exploring its own solutions for delivery, said that "what a lot of people lose in this conversation" is that setting up a transportation network is extremely capital intensive, requires very sophisticated information technology and takes a very long time to build out to scale. FedEx also said that "research has indicated time and time again that a uniformed person with proper identification showing up at your doorstep is an important issue for customers" and that the consistency of customer experience is very critical. FedEx noted that it will continue to monitor these situations, but that it feels "pretty comfortable in terms of our strategy going forward and our ability to serve the e-commerce market and our customers."
07:24 EDTAMZNHouse Oversight & Government Reform Committee to hold a hearing
The Committee holds a hearing entitled, "Drones: The Next Generation of Commerce?" with Michael Whitaker, Deputy Administrator of the FAA, Brian Wynne, CEO of Association for Unmanned Vehicle Systems International and Paul Misener, Vice President of Amazon on June 17 at 9 am. Webcast Link
06:30 EDTAMZNAmazonís Twitch wants to bring in 'nongaming brands,' CNBC reports
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June 16, 2015
11:26 EDTAMZNAmazon working on app to crowdsource package delivery, WSJ reports
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11:03 EDTAMZNAmazon working on app to crowdsource package delivery, DJ reports
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10:01 EDTMEIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded to Hold from Buy at Deutsche Bank... Alumina (AWCMY) downgraded to Neutral from Outperform at Credit Suisse... Avalanche Biotechnologies (AAVL) downgraded on lack of catalysts at SunTrust... DealerTrack (TRAK) downgraded to Hold from Buy at Craig-Hallum... Greenbrier (GBX) downgraded to Hold from Buy at Stifel... Methode Electronics (MEI) downgraded to Neutral at Baird... Profire Energy (PFIE) downgraded to Hold from Buy at Maxim... Standard Pacific (SPF) downgraded to Neutral from Outperform at Credit Suisse... The Fresh Market (TFM) downgraded to Sell from Neutral at Northcoast... Twitter (TWTR) downgraded to Neutral at MKM Partners on stalled user growth... United Natural Foods (UNFI) downgraded to Hold from Buy at Argus... United Rentals (URI) downgraded to Underperform from Neutral at Macquarie.
08:07 EDTMEIMethode Electronics downgraded to Neutral at Baird
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06:29 EDTMEIMethode Electronics downgraded to Neutral from Outperform at Baird
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June 15, 2015
11:50 EDTAMZNStocks with call strike movement; TSLA AMZN
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08:48 EDTAMZNFacebook poised to benefit from Internet ad growth, says RBC Capital
RBC Capital says that it "sees something of" a positive turning point in Internet advertising, driven by demand for video and mobile ads. The firm thinks that Facebook (FB) may be the biggest beneficiary of this trend. RBC finds the stock's valuation "highly attractive" and identifies Facebook as its second favorite large cap Internet stock behind Amazon (AMZN). RBC keeps a $105 price target and Outperform rating on Facebook.
07:38 EDTAMZNAmazon.com price target raised to $400 from $380 at Canaccord
Canaccord raised its price target on Amazon.com to $400 from $380 based on the constructive margin commentary from the company, solid growth and the breakout of AWS as a separate segment. Canaccord maintained its Hold rating on Amazon.com shares.
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