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Stock Market & Financial Investment News

News Breaks
March 13, 2014
12:40 EDTAMZN, TSRO, CALL, MEI, COVSOn 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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August 25, 2014
16:03 EDTAMZNAmazon acquires Twitch Interactive for approximately $970M
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14:05 EDTAMZNAmazon has agreed to buy videogame site Twitch for more than $1B, WSJ reports
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13:08 EDTAMZNAmazon in late-stage talks to buy Twitch, The Information reports
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06:18 EDTAMZNAmazon.com implied volatility of 21 at lower end of index mean range
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August 24, 2014
21:59 EDTAMZNVMware to hold a conference
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14:09 EDTAMZNAmazon develops ad sales program in challenge to Google and Microsoft, WSJ says
Amazon (AMZN) is developing its own software for placing ads online that may utilize the online retailer's knowledge of millions of Web shoppers, says the Wall Street Journal. Amazon's new ad platform which is called Amazon Sponsored Links may be tested this year and is a potential challenge to Google's (GOOG) and Microsoft's (MSFT) advertising business, added the Wall Street Journal. Reference Link
August 22, 2014
06:07 EDTAMZNAmazon hopes entry-level smartphone could extend ecommerce reach, DigiTimes says
Amazon released its mid-range to high-end Fire Phone in late July as it looks to extend its e-commerce reach, reports DigiTimes Research. Amazon had been in talks with Taiwan-based handset ODMs for the production of entry-level Fire Phones prior to the release of the current Fire Phone. Reference Link
05:49 EDTAMZNAmazon.com implied volatility of 20 at lower end of index mean range
August 21, 2014
12:24 EDTAMZNAmazon.com hired workers for drone delivery program, TechCrunch says
Amazon has hired several technical workers for its Amazon Prime Air project, which involves attempting to set up a program to deliver packages in 30 minutes or less using drones, according to TechCrunch. Among the employees that Amazon has hired for the project are former aerospace engineers, a NASA astronaut, a number of Microsoft researchers and Bing engineers, and the co-founder of Keyhole, the original developer of Google Earth, TechCrunch stated. Reference Link
06:02 EDTAMZNAmazon.com implied volatility of 22 at lower end of index mean range
August 20, 2014
06:40 EDTAMZNAmazon.com to launch China e-commerce hub, WantChinaTimes says
Amazon will launch an e-commerce hub in the Shanghai Pilot Free Trade Zone at the end of September, according to WantChinaTimes, which cited a report in Chinese-language news agency the Paper. The hub will enable Amazon to bring goods from around the world to China, and to sell China's goods to buyers around the world, WantChinaTimes explained. Reference Link
06:02 EDTAMZNAmazon.com implied volatility of 21 at lower end of index mean range
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August 19, 2014
06:57 EDTAMZNAmazon.com implied volatility of 22 at lower end of index mean range
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August 18, 2014
16:00 EDTAMZNOptions Update; August 18, 2014
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10:57 EDTCALLOptions with decreasing implied volatility
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09:35 EDTAMZNActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN DG TSLA GILD FB ABX WFC C
August 15, 2014
17:02 EDTAMZNStocks end week slightly higher despite flare-up in Russian tensions
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16:00 EDTAMZNOptions Update; August 15, 2014
iPath S&P 500 VIX Short-Term Futures up 1c to 28.88. Option volume leaders: AAPL GILD NFLX PBR TWTR TSLA MNKD AMZN C according to Track Data.
09:59 EDTAMZNAmazon doubles storage in Kindle Paperwhite, TechCrunch reports
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09:35 EDTAMZNActive equity options trading on open
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