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Stock Market & Financial Investment News

News Breaks
June 18, 2014
17:35 EDTT, AMZNAmazon Phone will get prominent position in AT&T stores, CNET says
AT&T (T) will provide full marketing priority on the Amazon (AMZN) Fire Phone and make the device its "flagship smartphone" for the summer, reports CNET citing Jeff Bradley, head of AT&T's devices business. Reference Link
News For AMZN;T From The Last 14 Days
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March 20, 2015
09:45 EDTAMZNActive equity options trading on open
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March 19, 2015
16:31 EDTAMZNAmazon Logistics UAS gets experimental airworthiness certificate
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16:26 EDTTOn The Fly: Closing Wrap
Stocks on Wall Street opened lower but turned mixed early in the day and remained that way for most of the session. The Dow and S&P spent most of the day deep in negative territory, while the Nasdaq managed to stay just above the flat line. Investors had a chance to digest yesterday’s comments from the Fed and may have re-considered whether it latest policy stance was as dovish as originally believed. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average after the close last night, replacing AT&T (T). Shares of Apple finished their first day in the blue chip index down 97c, or 0.76%, at $127.50, while AT&T fell 39c, or 1.16%, to $33.20... Coffee giant Starbucks (SBUX) rose $1.92, or 2%, to close at $97.76 after hitting a new all-time high of $99.20 earlier. The move follows the company's investor day meeting yesterday, where it unveiled plans for two pilots of delivery services, reported a partnership to expand the distribution of its ready-to-drink products in China, and announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992. Goldman Sachs and Wells Fargo were both unphased by the record highs and predicted the rally is not over for Starbucks in upbeat notes on the stock today. MAJOR MOVERS: Among the notable gainers was Amicus Therapeutics (FOLD), which rose $3.11, or 33.26%, to $12.46 after reporting positive results in meetings with the EMA and FDA. Also higher was Wynn Resorts (WYNN), which gained $7.19, or 5.85%, to $130.11 after research firm Brean Capital last night initiated coverage of the stock and several casino peers with Buy ratings. Among the noteworthy losers was Transocean (RIG), which fell $1.09, or 7.15%, to $14.16 after saying that it intends to scrap four rigs and noting that with those it has announced plans to scrap a total of 16 floaters. Also lower after its earnings report was diversified apparel company Vince Holding (VNCE), which fell $3.50, or 16.36%, to $17.89. INDEXES: The Dow fell 117.16, or 0.65%, to 17,959.03, the Nasdaq gained 9.55, or 0.19%, to 4,992.38, and the S&P 500 declined 10.23, or 0.49%, to 2,089.27.
13:09 EDTTAT&T to pay $40M after missing appeal deadline, Bloomberg reports
AT&T is required to pay $40M in a patent infringement case because the company's lawyers failed to read a court document, reports Bloomberg. An appeals court ruled that AT&T missed the deadline to appeal a jury verdict for $27.5M, plus interest, won by Two-Way Media LLC. AT&T said its missed deadline was “excusable neglect” because of the incorrect docket entry, but the U.S. Court of Appeals for the Federal Circuit said others were given the information needed and refused to extend the time period for the appeal. Reference Link
13:00 EDTTOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with Nasdaq slightly higher and the Dow and S&P 500 both down a bit more than 0.5%. The day’s economic reports were generally benign and are likely less significant to the trading action than participants having had some time to digest yesterday’s Fed comments. Immediately after the Fed's policy statement yesterday, the U.S. dollar fell as low as 1.10 against the euro, but that move was almost entirely reversed overnight. The dollar was back near pre-Fed levels against the euro early this morning, and similar moves were seen in pairs of the dollar and other major currencies. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. In Europe, the Swiss National Bank left rates unchanged, cut its growth forecasts for the country's economy, said that it will intervene in currency markets as needed since it believes the Swiss Franc remains overvalued. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average today, replacing AT&T (T). Shares of the iPhone maker were down 0.5% near midday, while AT&T stock fell a bit more than 1%... Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $98.50 earlier this afternoon following the company's investor day meeting yesterday. In conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. MAJOR MOVERS: Among the notable gainers was Coronado Biosciences (CNDO), which gained 42% after announcing the formation of a new company, Mustang Therapeutics, focused on Chimeric Antigen Receptor, or CAR-T, technology. The company also announced a licensing agreement with NeuPharma for EGFR inhibitors. Also higher was Guess (GES), which gained 15% after reporting higher than expected profits for its fiscal fourth quarter. Among the noteworthy losers was Transocean (RIG), which fell 6% after having announced last night that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI (E) for the Transocean Amirante was terminated. Transocean also said it intends to scrap four rigs, noting that with those it has announced plans to scrap a total of 16 floaters. Also lower following its earnings report was diversified apparel company Vince Holding (VNCE), which fell 16%. INDEXES: Near midday, the Dow was down 128.51, or 0.71%, to 17,947.68, the Nasdaq was up 3.15, or 0.06%, to 4,985.98, and the S&P 500 was down 13.36, or 0.64%, to 2,086.14.
09:05 EDTTApple up fractionally in pre-market trade ahead of Dow entry
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07:04 EDTTAmerican Express confirms plans to launch Plenti loyalty program
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05:53 EDTAMZNAmazon plans to shut down Shopify rival Amazon Webstore, Re/code reports
Amazon is planning to shut down Amazon Webstore, its competitor to Shopify and Bigcommerce, Re/code reports, citing sources. The company will allow its Webstore customers over a year to find a new vendor before the service is fully shut down, the sources say. Reference Link
05:30 EDTAMZNAmazon.com expands Prime Now delivery to Baltimore and Miami
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March 18, 2015
13:59 EDTTT-Mobile announces 'Un-contract,' 'Carrier Freedom' initiatives
Today, during an event held to announce Un-carrier 9.0 − Un-carrier for Business − T-Mobile (TMUS) unveiled two new major Un-carrier initiatives for consumers. First, with T-Mobile’s new "Un-contract," customers will now have more certainty in their wireless pricing than ever before. Consumers and businesses with the Simple Choice rate plan will find that rates won’t go up as long as they’re a T-Mobile customer and keep their plan − and even customers with unlimited 4G LTE will lock in their rates for a minimum of two years. The Un-carrier also launched "Carrier Freedom," a new move where T-Mobile will now cover all outstanding phone and tablet payments up to $650 per line when customers from AT&T (T), Verizon (VZ) or Sprint (S) switch to T-Mobile.
07:30 EDTTAT&T-DirecTV getting less attention than Comcast-Time Warner Cable, Reuters says
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06:16 EDTTAmerican Express to launch Plenti loyalty program this spring, WSJ reports
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March 17, 2015
14:55 EDTAMZNVMware to face more competitive process for DOD contract, says Stifel
After government websites indicated that Citrix (CTXS), Amazon (AMZN) and others succeeded in getting the DoD to reconsider its awarding of a $1.6B, five-year contract to VMware (VMW), Stifel said it doesn't think VMware has necessarily lost the opportunity, but that the company will now likely face a more competitive bidding process to win the deal. The firm view this example as supporting its concerns that VMware's steps to become a more strategic vendor have the potential to be as much of a threat as an opportunity and Stifel maintains its Hold rating on the stock.
14:43 EDTAMZNVMware award from DISA canceled after protest, siliconANGLE reports
On March 12, the Defense Information Security Agency, or DISA, reversed a decision to award VMware (VMW) with a $1.6B contract following protests by Amazon Web Services (AMZN), Citrix Systems (CTXS), and others, reported siliconANGLE. A government posting noted that "Amendment 0002 is issued to cancel the request for proposal to further analyze the government's needs." Reference Link
11:23 EDTAMZNApple willing to share TV data to attract programming partners, NY Post reports
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09:07 EDTAMZNDISH's Sling TV launches on Xbox One
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09:05 EDTAMZNMicrosoft Band now available at Best Buy, Target, Amazon, Re/code reports
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07:42 EDTAMZNBoeing may produce satellite for tech giants, Reuters says
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March 16, 2015
16:00 EDTAMZNOptions Update; March 16, 2015
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10:44 EDTAMZNNetflix retreats after cut to sell on competition, cost concerns
The shares of Netflix (NFLX) are falling after research firm Evercore ISI downgraded the stock to Sell from Hold. Increased competition will force the company to increase its investments and the return from those investments is uncertain, the firm contends. WHAT'S NEW: In the U.S., technological advancements are enabling content providers to sell their programming to a wider range of Internet video distributors, Evercore ISI analyst Ken Sena wrote in a note to investors earlier today. Moreover, content providers themselves are now able to stream more of their programming online and obtain higher profits from doing so, Sena reported. The analyst noted that Apple (AAPL) recently obtained a three month exclusive deal to stream content form Time Warner's (TWX) HBO Now, while Yahoo (YHOO), Amazon (AMZN), and Hulu (DIS, CMCSA, NWSA) are all reportedly interested in obtaining streaming rights to "Seinfeld." Netflix's international expansion will not be sufficient to offset the increased competition, especially because foreign viewers are likely to watch less TV and be less interested in paying for TV content, the analyst believes. Furthermore, Netflix will face more competition from other Internet TV services overseas than in the U.S., according to Sena, who cut his 2015 consolidated operating income estimate for the company by 26% to $381M from $517M previously. In addition to cutting his rating, Sena lowered his price target on the shares to $380 from $450. PRICE ACTION: In early trading, Netflix sank $16, or 3.7%, to $422.
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