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Stock Market & Financial Investment News

News For AMZN;AAPL;CA;COG;CERN;CB;CINF;DNB;EMN;EXPE;FII;KLAC;PKI;PFG;VAR;VRSN From The Last 14 Days
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July 2, 2015
18:24 EDTAMZNAmazon leads $60M investment round for BankBazaar
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16:37 EDTCBStocks end holiday shortened week lower after Greece defaults
Stocks on Wall Street began with a slide on Monday, but not as precipitous a drop as may have been feared, after Greece shut down its banks and announced it will put the concession deal offered by its creditors, and essentially its continued inclusion in the eurozone, up for a popular vote. The major averages regained a bit of their losses in the next two sessions as news regarding the Greek situation continued to dominate the headlines. U.S. markets are closed on Friday in observance of Independence Day, but investors will be returning to big news, for better or worse, following the referendum that is scheduled to occur on July 5. MACRO NEWS: In the U.S., the monthly nonfarm payrolls report showed the addition of 223,000 jobs, versus expectations for 233,000 jobs to have been added last month. The unemployment rate fell to 5.3% from the prior month’s 5.5% rate. Factory orders fell 1.0% in May, which was larger than the expected 0.5% decline. The Conference Board's consumer confidence index rose to 101.4 in June from a revised 94.6 reading for May, beating expectations for a reading of 97.4. Markit's manufacturing purchasing managers' index for June came in at 53.6, narrowly above the 53.4 forecast. ISM's manufacturing index rose to 53.5 in June, topping May's 52.8 reading and the 53.2 consensus forecast. Construction spending rose 0.8% in May, versus the expected growth of 0.5%. Additionally, Puerto Rico's Governor Alejandro Garcia Padilla, in an interview published by the New York Times, warned that the commonwealth's "debt is not payable" and a report warned that the territory's crisis was even worse than previously thought... In Europe, Greek Prime Minister Alexis Tsipras called a surprise referendum on the terms put forth by the country’s creditors in exchange for additional rescue funds and the country shut down its banks until after this Sunday's vote. Standard & Poor's Ratings lowered its sovereign credit ratings on Greece, stating that the probability of the country exiting the eurozone is now about 50%, in its view. Greece officially missed its $1.7B payment to the International Monetary Fund, as expected. Greece's government requested a third bailout from the eurozone, but the request was dismissed by European officials. Eurogroup president Jeroen Dijsselbloem said Wednesday that he saw no need for further talks on Greece at that point as he awaits the result of its referendum... In China, the People’s Bank cut the one-year lending rate by 25 basis points to 4.85% and lowered the amount of reserves certain banks are required to hold by 50 basis points, but the same day the Shanghai Composite entered bear market territory, meaning the index was down more than 20% from its peak in mid-June. Chinese manufacturing PMIs came in short of expectations, as the HSBC/Markit PMI slipped to a final 49.4 in June from the flash reading of 49.6, while the government's official manufacturing PMI fell to 50.1 in June from 50.9 in May. COMPANY NEWS: Shares of BP (BP) advanced after the oil major announced it has reached agreements in principle to settle all U.S. federal and state claims arising from the Deepwater Horizon accident and spill in 2010. BP said it will pay up to $18.7B to settle the claims and that the expected impact of its agreements would be to increase the cumulative pre-tax charge associated with the accident and spill by around $10B from $43.8B at the end of the first quarter... In a blockbuster deal in the insurance industry, ACE Limited (ACE) agreed to acquire Chubb (CB) in a cash and stock transaction valued at over $28B. The combination will create the number one global Property and Casualty insurance company by P&C underwriting income and the number two U.S. public P&C insurer by market cap. Elsewhere on the M&A front, managed healthcare company Centene (CNC) announced a definitive agreement to acquire managed health care services rival Health Net (HNT) in a cash and stock deal valued at approximately $6.8B, including the assumption of approximately $500M of debt. Additionally, Willis Group (WSH) agreed to combine in an all-stock merger of equals with Towers Watson (TW) and Chambers Street Properties (CSG) announced a merger agreement with Gramercy Property Trust (GPT)... U.S. airline stocks dropped after the Associated Press reported that the Justice Department is investigating potential "unlawful coordination" between companies attempting to artificially limit growth to keep fares high... Juno Therapeutics (JUNO) advanced after the company announced a ten-year global collaboration for the development and commercialization of immunotherapies with Celgene (CELG). As part of the deal, Celgene will make an initial payment of approximately $1B, which includes the purchase of approximately 9.1M shares of Juno stock at $93 per share... Pentair (PNR) gained after Nelson Peltz's Trian Group confirmed it has taken a 7.24% stake. Trian urged the company to consider acquisitions and other industrial parts makers, including SPX Corp. (SPW), Flowserve (FLS), Xylem (XYL) and Colfax (CFX), also advanced following the activist's disclosure of its position... In a ruling with implications for coal miners and electric utilities, the Supreme Court overturned the EPA's Mercury Admissions and Toxic Standard, or MATS, rule, stating that the regulator did not properly take into account the costs to utilities and others in the sector in implementing a national standard for the reduction of power plant emissions of mercury and other air toxins... General Motors (GM) reported its U.S. sales fell 3% in June compared to the same month of last year, while Ford (F) said its sales grew 1.6% last month compared to last year. FCA US, the parent of the Chrysler and Jeep brands, reported U.S. sales increased 8% compared with sales in June 2014... Bond insurers MBIA (MBI) and Assured Guaranty (AGO) declined amid the worries about the debt situation in Puerto Rico. INDEXES: The Dow fell about 1.25% to close at 17,730.11, the Nasdaq declined about 1.43% to close at 5,009.21, and the S&P 500 dropped about 1.22% to close at 2,076.78.
16:04 EDTAAPLOptions Update; July 2, 2015
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14:14 EDTAAPLFitbit shares tack on gains as analyst confidence grows
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10:57 EDTCBChubb upgraded to Outperform from Market Perform at Keefe Bruyette
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09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL HP TSLA FB GRPN BP MEP GILD
08:36 EDTCBACE Limited shares could retreat following deal, says BMO Capital
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07:26 EDTCBACE Limited deal 'transformative,' says RBC Capital
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06:40 EDTAAPLReport: Apple may receive OLED displays from Samsung for watch, DigiTimes says
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06:38 EDTAAPLApple removes Home Sharing support feature for music in iOS 8.4, 9to5Mac says
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06:05 EDTAAPLBarclays extends cheque imaging to Android users
Barclays announced the extension of its pioneering mobile cheque imaging service to nearly a million more customers, including 500,000 customers with android phones. In another UK first, the service is also now being made available to iPad users. Since the launch of cheque imaging a year ago, nearly three quarters of a million pounds have been deposited by the 30,000 Barclays customers signed up to the mobile cheque imaging tool on their iPhones. The latest roll-out will see this number rise yet higher as more customers are able to benefit from the speed and ease of this time-saving technology. Mobile cheque imaging is available through the Barclays Mobile Banking app and allows customers to pay in a Barclays cheque of up to £500 within minutes of receiving it. Customers simply need to take a photo of the cheque then complete a few quick steps before the funds are immediately available in their current account. Reference Link
July 1, 2015
16:42 EDTAMZNAmazon exec says not focused on entering luxury fashion market, BofF reports
In an interview with Business of Fashion, Amazon Fashion's Chief Marketing Officer Jennie Perry remarked, "There has been lot of speculation on us entering the luxury market and that is just not something that we’re focused on right now. What we are focused on is developing an experience for our large customer base." However, Perry also remarked that "we’re in [fashion] for the long haul. We’re really invested in this industry." Reference Link
16:28 EDTCBOn The Fly: Top stock stories for Wednesday
Stocks on Wall Street opened higher amid hopes for a resolution to the Greek debt crisis. The market also received help from positive reports from the ISM on manufacturing and ADP on the labor market. The averages saw their highs shortly after the open and then gradually drifted off those highs, while moving in a fairly narrow range. Investors will now be looking to the release of tomorrow’s nonfarm payrolls report, which will be out a day earlier than normal due to the Independence Day holiday. ECONOMIC EVENTS: In the U.S., ADP reported the private sector added 237,000 jobs in June, versus expectations for 218,000 job additions. Markit's manufacturing purchasing managers' index for June came in at 53.6, narrowly above the 53.4 forecast. ISM's manufacturing index rose to 53.5 in June, topping May's 52.8 reading and the 53.2 consensus forecast. Construction spending rose 0.8% in May, versus the expected growth of 0.5%. In China, manufacturing PMIs came in short of expectations. The HSBC/Markit PMI slipped to a final 49.4 in June from the flash reading of 49.6, while the government's official manufacturing PMI fell to 50.1 in June from 50.9 in May. In Europe, Greece officially missed its $1.7B payment to the International Monetary Fund last night. Reports then indicated that Greece's government was willing to make concessions that get it much closer to creditor demands. The new proposal for budget cuts and policy overhauls from Prime Minister Alexis Tsipras was dismissed by European officials, however, and Eurogroup president Jeroen Dijsselbloem said that he sees no need for further talks on Greece at this point and that he awaits the result of this Sunday's scheduled referendum. COMPANY NEWS: In a blockbuster deal in the insurance industry, ACE Limited (ACE) agreed to acquire Chubb (CB) in a cash and stock transaction valued in excess of $28B that will create the number one global Property and Casualty insurance company by P&C underwriting income and the number two U.S. public P&C insurer by market cap. ACE shares advanced 77c, or 0.76%, to $102.45 following the deal announcement, while Chubb surged $25.63, or 26.94%, to $120.77... U.S. airline stocks dropped after the Associated Press reported that the Justice Department is investigating potential "unlawful coordination" between companies attempting to artificially limit growth to keep fares high. Shares of American Airlines (AAL), Delta Air Lines (DAL), Southwest (LUV), United Continental (UAL) and JetBlue (JBLU) all closed lower by between 1.4% to 3.4% following the report. MAJOR MOVERS: Among the notable gainers was Schnitzer Steel (SCHN), which advanced 13.45% to $19.82 after BofA Merrill Lynch upgraded the shares two notches to Buy from Underperform and raised its price target to $21, saying scrap pricing should be nearing a trough with stability expected ahead. Also higher were shares of Dycom (DY), which gained 7.87% to $63.48 following a fourth quarter guidance hike, an announcement of a $40M repurchase plan and an upgrade to Buy at DA Davidson. Among the noteworthy losers was Baxter (BAX), which fell 44.43% to $38.86 after its spin-off of Baxalta (BXLT), whose shares fell 1.38% to $31.50. Baxter was downgraded to Neutral from Outperform at Credit Suisse after the research firm updated its valuation of Baxter to reflect the split. Also lower was Graham Holdings (GHC), which fell 35.48% to $693.63 after the company completed its spin-off of Cable ONE (CABO), whose shares lost 6.23% to $399. Additionally, shares of General Motors (GM) fell 0.87% to $33.04 after the company halted production at its Russian plant and reported June U.S. sales dropped 3%. INDEXES: The Dow rose 138.40, or 0.79%, to 17,757.91, the Nasdaq gained 26.26, or 0.53%, to 5,013.12, and the S&P 500 advanced 14.31, or 0.69%, to 2,077.42.
16:00 EDTAAPLOptions Update; July 1, 2015
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14:39 EDTCBChubb downgraded to Hold from Buy at Argus
Chubb (CB) has agreed to be acquired by ACE Limited (ACE).
13:05 EDTCBOn The Fly: Top stock stories at midday
Stocks on Wall Street remain higher at midday but off their best levels, which were achieved shortly after the open. The strength is being largely attributed to hopes for a resolution to the Greek crisis, but the move was also supported by better than expected domestic data on employment, construction and manufacturing. ECONOMIC EVENTS: In the U.S., ADP reported the addition of 237,000 private sector jobs in June, versus expectations for 218,000 job additions. Markit's manufacturing purchasing managers' index for June came in at 53.6, narrowly topping the 53.4 forecast. ISM's manufacturing index rose to 53.5 in June, topping May's 52.8 reading and the 53.2 consensus forecast. Construction spending rose 0.8% in May, versus the expected growth of 0.5%. In China, manufacturing PMI's came in short of expectations. The HSBC/Markit PMI slipped to a final 49.4 in June from the flash reading of 49.6 reading, while the official manufacturing PMI fell to 50.1 in June from 50.9 in May. In Europe, Greece officially missed its $1.7B payment to the International Monetary Fund, becoming the first developed country to do so. The Financial Times then reported the Greek government was indicating it was willing to make concessions that get it much closer to creditor demands. The new proposal for budget cuts and policy overhauls from Prime Minister Alexis Tsipras was dismissed by European officials, however, and uncertainty remains high surrounding the next steps in Europe. COMPANY NEWS: In a blockbuster deal in the insurance industry, ACE Limited (ACE) agreed to acquire Chubb (CB) in a transaction valued in excess of $28B in cash and stock. ACE said it expects that the deal will be immediately accretive to EPS and book value, and by year three, the transaction will be accretive to EPS on a double-digit basis and will be accretive to ROE. The combined company is expected to be the number one global Property and Casualty insurance company by P&C underwriting income and the number two U.S. public P&C insurer by market cap. ACE shares advance 2% following the deal announcement, while Chubb surged 29%... General Motors (GM) reported its U.S. sales fell 3% in June compared to the same month of last year, while Ford (F) said its sales grew 1.6% last month compared to last year. FCA US, the parent of the Chrysler and Jeep brands, reported U.S. sales increased 8% compared with sales in June 2014. MAJOR MOVERS: Among the notable gainers was Schnitzer Steel (SCHN), which rose 14% after BofA Merrill Lynch upgraded the shares two notches to Buy from Underperform and raised its price target to $21, saying it believes scrap pricing should be nearing a trough with stability expected ahead. Also higher were shares of Dycom (DY), which gained 7% after the company raised its fourth quarter guidance for both earnings and revenue and announced a $40M stock repurchase program. Among the noteworthy losers was Chambers Street Properties (CSG), which fell 8% after announcing a merger agreement with Gramercy Property Trust (GPT), whose shares also slipped 3% following the announcement of the stock-for-stock transaction. Also lower were shares of Peabody Energy (BTU), which dropped 24% after cutting its second quarter guidance on Tuesday night. The company sees its adjusted EPS below its original target due to multiple factors, including flash flood events in June and price drops in Australian metallurgical coal. INDEXES: Near midday, the Dow was up 88.42, or 0.5%, to 17,707.93, the Nasdaq was up 13.01, or 0.26%, to 4,999.88, and the S&P 500 was up 8.62, or 0.42%, to 2,071.73.
12:55 EDTCBHartford Financial calls active on ACE Limited acquisition of Chubb
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10:28 EDTEXPEOptions with increasing implied volatility
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10:07 EDTAAPLGoogle, Apple seen benefiting from Internet of Things emergence
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09:54 EDTCBWells does not expect competing bid for Chubb
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09:33 EDTAAPLActive equity options trading on open
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09:28 EDTCBOn The Fly: Pre-market Movers
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09:14 EDTCBACE CFO says does not expect to make share buybacks 'for some time'
09:10 EDTCBACE says combined company to be number two U.S. public P&C insurer by market cap
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09:03 EDTCBACE sees no material tax gain from Chubb deal
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08:50 EDTAMZNChannelAdvisor helps customers expand international reach with Amazon Mexico
ChannelAdvisor announced it is helping its customers expand their international reach through its support of Amazon Mexico that just launched its physical goods store and marketplace on June 30. With products in categories such as consumer electronics, home and garden, sports, health and personal care, home improvement and more, Amazon Mexico offers retailers and branded manufacturers a comprehensive site to sell into Mexico. Retailers can ship Amazon Mexico orders from their own distribution center or use Fulfillment by Amazon. Retailers and branded manufacturers using FBA for Amazon Mexico orders are required to import their products to an Amazon Fulfillment Center located in Mexico for storage and local fulfillment. When using FBA, Amazon will provide 24-hour, local language customer support on behalf of the retailer.
08:38 EDTAMZNKnowles outlook has improved, says JMP Securities
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08:24 EDTAAPLApple outlook improved due to Internet of Things forecast, says JMP Securities
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07:49 EDTCBChubb volatility elevated into ACE Limited acquiring for $28B in cash and stock
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07:47 EDTCBACE Limited & Chubb to host joint conference call
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07:47 EDTEXPEExpedia waiving certain clauses in deals with European hotel partners
The Expedia group announced that it intends to waive certain clauses in its agreements with its European hotel partners.A number of European competition authorities are currently investigating rate, conditions and availability parity clauses in certain online travel agency agreements with hotels. Expedia has worked closely and constructively with these authorities and the European Commission and today announced that it is waiving its rate, conditions and availability parity clauses with its hotel partners for a period of five years in line with Clauses 1.1, 1.2 and 2.1 of the formal commitments offered by Booking.com and accepted by the national competition authorities in France, Italy and Sweden in April 2015. The changes announced today apply to all hotel properties in Europe and affect consumers booking via Expedia’s sites worldwide. Expedia’s waivers will become effective as of August 1 and Expedia will contact its hotel partners in Europe individually to communicate this announcement and how it intends to implement the changes announced today.While Expedia maintains that its current rate, conditions and availability parity clauses are lawful and in compliance with competition law, Expedia considers that today’s announcement is a positive step towards facilitating the closure of the open investigations into such clauses on a harmonised pan-European basis.
07:41 EDTCBACE Limited volatility elevated into acquiring Chubb for $28B in cash and stock
ACE Limited (ACE) July call option implied volatility is at 18, August is at 17; compared to its 52-week range of 10 to 21, suggesting large price movement into acquiring Chubb (CB) for $62.93 per share in cash and 0.6019 shares of ACE stock.
07:02 EDTCBACE sees deal immediately accretive to EPS and book value
It is expected that the transaction will be immediately accretive to earnings per share and book value, and by year three, the transaction will be accretive to EPS on a double-digit basis and will be accretive to ROE. It is anticipated that the ROI will exceed ACE’s cost of capital within two years, result in a double-digit return by year three, and tangible book value per share will return to its current level in three years. Morgan Stanley & Co. LLC is serving as financial advisor and Sullivan & Cromwell LLP is serving as legal counsel to ACE. Guggenheim Securities, LLC is serving as financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Chubb.
07:02 EDTCBACE Limited, Chubb company will be led by Evan Greenberg
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07:01 EDTCBACE Limited to acquire Chubb for $28.3B in cash and stock
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07:00 EDTCBACE Limited to acquire Chubb for $28.3B in cash and stock
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06:23 EDTAMZNTwitch’s E3 coverage attracted more than 21M viewers
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06:16 EDTAAPLApple's iPhone 6s could feature 'numerous' internal changes, 9to5Mac reports
Mark Gurman of 9to5Mac published photos that reportedly shows the outside of the rumored iPhone 6s. Gurman notes that the device "will look nearly identical" to the iPhone 6 on the outside, but will feature numerous internal changes, including Force Touch and a different internal mounting structure. Reference Link
05:58 EDTAAPLSecond Circuit affirms Apple's liability for e-book price-fixing conspiracy
Assistant Attorney General Bill Baer of the Justice Department’s Antitrust Division released the following statement yesterday after the U.S. Court of Appeals for the Second Circuit ruling in United States v. Apple Inc.: “We are gratified by the court’s decision. The decision confirms that it is unlawful for a company to knowingly participate in a price-fixing conspiracy, whatever its specific role in the conspiracy or reason for joining it. Because Apple and the defendant publishers sought to eliminate price competition in the sale of e-books, consumers were forced to pay higher prices for many e-book titles. I am proud of the outstanding work done by the trial team who initially established Apple’s liability and by the lawyers who defended the district court’s decision in this appeal. The Antitrust Division will continue to vigorously protect competition and enforce the antitrust laws in this important business, and in other industries that affect the everyday lives of consumers.”
05:54 EDTAAPL, AMZNStagnant tablet demand to continue in 2H15, DigiTimes reports
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June 30, 2015
17:34 EDTAAPLEricsson asks for documents that may be relevant in Apple case, Re/code says
Ericsson (ERIC) has asked a a Taiwanese company, Simplo Technology, thought to be an Apple (AAPL) supplier to hand over documents that may be relevant to its patent dispute case with Apple, says Re/code. Earlier this year, Ericsson filed complaints with the International Trade Commission as well the U.S. District Court in Texas claiming that Apple’s iPhones and iPads violate patents used in setting the 2G and 4G LTE wireless communications standards, added Re/code. Reference Link
16:01 EDTAAPLOptions Update; June 30, 2015
iPath S&P 500 VIX Short-Term Futures down 18c to 20.14. Option volume leaders: AAPL AMD TWTR BAC JPM
11:07 EDTEXPEPriceline rises after analysts highlight positive travel trends
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10:38 EDTAAPLWells Fargo upbeat on core eBay, Bernstein bullish on PayPal
Wells Fargo issued an upbeat note on the outlook for eBay's (EBAY) core business, while another research firm, Bernstein, was bullish on the company's soon to be spun off PayPal (PYPL) unit. eBay has said that it will spin off its PayPal online payments unit through a distribution to eBay shareholders on July 17. CORE EBAY: The shares of core eBay are likely to offer a "unique value opportunity" following the spin-off, as many growth investors will probably sell their shares in eBay creating "an interesting entry point." Wells Fargo stated. eBay's business model is "arguably better" than that of most retailers, as it has no inventory risk, better margins, and more efficient capital deployments than most other companies in the sector, Wells believes. Numerous initiatives that the company is undertaking, including structured data and a simplified listing process, could enable eBay to beat expectations going forward, Wells contended. Additionally, there is little risk to fiscal 2016 estimates for eBay, since its guidance does not factor in any improvement in its business, the firm believes. Noting that "when issued" shares of eBay and PayPal are slated to start trading on July 9, Wells says that eBay's shares would provide "exceptional value" if they trade anywhere near the current $20 per share implied value of core eBay. At $25, the shares would still provide "excellent value," the firm added. PAYPAL: The growth of Internet payments is in its infancy and has "vast untapped potential," according to Bernstein analyst Carlos Kirjner. PayPal's total payments volume should have a compound annual growth rate of over 20% in the next three years, helping its revenue to jump by a CAGR of at least 17% over the period, the analyst stated. Since PayPal's position in mobile is strong, competing services from Apple (AAPL) and Google (GOOG) will, at most, create a small headwind to PayPal's growth over the next three years, Kirjner contended. Moreover, PayPal has room to cut its costs, enabling its margins to expand and its earnings to grow faster than its revenue over the longer term, the analyst stated. He values PayPal at $43 per eBay share. PRICE ACTION: In early trading, eBay added 0.7% to $59.77.
10:36 EDTAAPLAppeals court says Apple conspired to fix e-book prices, Reuters reports
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09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL FB GILD BABA BAC MU WYNN MSFT NFLX
09:07 EDTAMZNAmazon launching Selling on Amazon, Fulfillment by Amazon for firms in Mexico
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09:02 EDTAMZNAmazon announces expansion in Mexico
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08:35 EDTCERNathenahealth weakness a buying opportunity, says SunTrust
SunTrust said it views the 22% year-to-date pullback in athenahealth (ATHN) as a buying opportunity, noting that it thinks the stock is waiting for a large ambulatory deal announcement to move higher. The firm views the Coordinator Enterprise deal the company announced yesterday with UAB as adding an important new customer and indicates that CE is gaining traction in the market, but said that it would likely be hard for Athena to unseat Cerner (CERN), which it believes is UAB’s primary HIT vendor. The firm has a Buy rating on athenahealth shares.
07:41 EDTEXPEOnline travel trends point to solid Q2, says Piper Jaffray
Piper Jaffray analyst Michael Olson said analysis of travel industry trends through May point to a "solid" second quarter for online travel, noting his belief that Priceline (PCLN) has the most favorable risk/reward in the space given the stock's underperformance so far this year. In addition to an Overweight rating on Priceline, Olson keeps an Overweight on HomeAway (AWAY) and TripAdvisor (TRIP), but has a Neutral rating on Expedia (EXPE), citing its relative valuation.
07:08 EDTAAPLGoogle apps take up nearly as much user time as Facebook’s apps, WSJ says
A study released by Forrester Research suggests that U.S. smartphone users in late 2014 spent roughly 12% of their time in Google (GOOG) apps, just below the 13% spent on Facebook (FB) apps, the Wall Street Journal reports. The time spent on Google apps is likely to be “much higher” since respondents were only asked to list apps they downloaded and the time spent on them, excluding apps pre-loaded on certain Google phones, the report says. The same is true of Apple’s (AAPL) apps, amounting to 3% of users time, the report says. Reference Link
07:03 EDTPKIPerkinElmer price target raised to $60 from $53 at Stifel
Stifel says that PerkinElmer's recent multiple expansion appears to be sustainable, and the firm thinks that the company's operating margin can increase to about 20.5% in 2018, up from about 17.6% in 2014. The firm keeps a Buy rating on the stock.
06:58 EDTAAPLSprint to roll out $80 a month 'All-in' plan, Reuters reports
Sprint (S) will today launch an $80 a month "All-in" cellular phone plan, Reuters reports. Chief Marketing Officer Kevin Crull says the plan will offer unlimited talk, text and data at $60, plus $20 to lease phones like the iPhone 6 (AAPL) and Samsung (SSNLF) Galaxy S6. Reference Link
06:24 EDTAMZNAmazon expanding Prime Now to London, TechCrunch reports
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05:59 EDTAAPLGartner: Worldwide IT spending on pace to decline 5.5% in 2015
Worldwide IT spending is on pace to total $3.5T in 2015, a 5.5% decline from 2014, according to the latest forecast by Gartner, Inc. Analysts attribute the decline to the rising U.S. dollar. In constant-currency terms, the market is projected to grow 2.5%. In Gartner's previous forecast in April, it had forecast IT spending to decline 1.3% in U.S. dollars and grow 3.1% in constant currency. "We want to stress that this is not a market crash. Such are the illusions that large swings in the value of the U.S. dollar versus other currencies can create," said John-David Lovelock, research vice president at Gartner. "However, there are secondary effects to the rising U.S. dollar. Vendors do have to raise prices to protect costs and margins of their products, and enterprises and consumers will have to make new purchase decisions in light of the new prices." Communications services will continue to be the largest IT spending segment in 2015 with spending at nearly $1.5T. However, this segment is also experiencing the strongest decline among the five IT sectors. In the device market, mobile phones continue to be the leading segment, with growth in Apple phones, especially in China, keeping overall phone spending consistent. However, overall smartphone unit growth will start to flatten. The PC and tablet market continues to weaken. The expected 10 percent increase in average PC pricing in currency-impacted countries is going ahead, delaying purchases even more than expected. Excessive PC inventory levels, especially in Western Europe, need to be cleared, which will delay Windows 10 inventory in the second half of the year. Within the data center systems segment, storage and network markets are both expected to see weaker growth in U.S. dollar terms as a result of the appreciation of the U.S. dollar. Reference Link
05:33 EDTAMZNAmazon Web Services to open infrastructure region in India
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05:32 EDTAAPLNovartis launches first Apple Watch app for visually impaired people
Novartis Pharmaceuticals (NVS) announced the release of new features for its ViaOpta applications, and the extension for use with smart watches. The discreet, hands-free nature of using ViaOpta app with wearable devices, such as Apple Watch (AAPL) and Android Wear (GOOG), provides users with an experience that seamlessly fits into their existing routines allowing those with visual impairments to navigate daily life with even greater ease.
June 29, 2015
19:49 EDTAAPLSamsung looking to supply NAND to Apple for iPhone, AppleInsider says
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18:05 EDTAAPLApple MacBook's single USB port will prolong life of battery, Mac Observer says
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16:00 EDTAAPLOptions Update; June 29, 2015
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11:03 EDTAAPLAnalyst says sell Qualcomm ahead of predicted price cuts
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10:55 EDTAMZNAmazon expands lending program to sellers in eight more countries, Reuters says
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10:04 EDTCBHigh option volume stocks
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09:38 EDTAMZNAmazon same day SKUs up about 70% from last year, says Piper Jaffray
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09:35 EDTAAPLActive equity options trading on open
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09:14 EDTAAPLApple Music to be accompanied by iOS 8.4, Beats 1 at launch
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08:42 EDTAAPLApple estimates raised at RBC Capital
RBC Capital raised its June quarter estimates for Apple after the firm's survey and supply checks indicated better than expected iPhone demand. The firm thinks that the company's gross margins will probably stabilize in the low 40% range, which it says is well ahead of investor expectations. The firm keeps a $150 price target and Outperform rating on the stock.
07:22 EDTAAPLApple June quarter iPhone estimate raised above conensus at Citi
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06:19 EDTAAPLApple Music will come to Sonos speakers by end of the year, Re/code reports
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06:05 EDTAAPLNotebook demand expected to be weaker than expected in 2H15, DigiTimes reports
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June 28, 2015
19:58 EDTAAPLApple starts production of next iPhone, Bloomberg says
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19:46 EDTAAPLApple acquires fingerprint-scan patents, could be eyeing startup, CNN says
Fingerprint-scan startup Privaris has transferred 26 of its 31 patents to Apple, CNN reported Friday. The report notes that one of the patents allows the use of a touchscreen and fingerprint reader simultaneously. The move could signal that Apple is looking to acquire the company, CNN speculates. Reference Link
14:24 EDTAAPLApple Music 'unlikely to move earnings needle,' Barron's says
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12:47 EDTAMZNTech sector earnings 'melt away' when accounting for stock comp, Barron's says
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June 26, 2015
16:32 EDTAAPLStocks end week lower with Greece still searching for deal
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16:00 EDTAAPLOptions Update; June 26, 2015
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11:00 EDTAMZNOptions with increasing implied volatility
Options with increasing implied volatility: SRPT AGO CRC WMB AMZN CMG TRIP ZTS AET MBI
10:00 EDTAMZNOn The Fly: Analyst Initiation Summary
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09:36 EDTAAPLActive equity options trading on open
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08:24 EDTAMZNEtsy price target lowered to $9 from $13 at Wedbush
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07:43 EDTAAPLApple Watch attracts few buyers at Zurich launch, Bloomberg reports
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06:38 EDTKLACKLA-Tencor backs Q4 non-GAAP EPS 78c-$1.02, consensus 91c
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06:37 EDTKLACKLA-Tencor to recognize $26M-$36M in costs related to workforce reduction
KLA-Tencor currently estimates that, in connection with the global employee workforce reduction plan, it will recognize net charges in the range of approximately $26M-$36M for estimated severance costs and other related costs. Substantially all of these net charges are expected to be cash expenditures. The company expects to recognize a majority of these charges in the fourth quarter of fiscal year 2015. On April 23, 2015, the company announced a plan to reduce its global employee workforce by up to 10% to streamline its organization and business processes in response to changing customer requirements in its industry. The goal of this reduction is to enable continued innovation and direct the company’s resources toward its best opportunities. The company expects to substantially complete the employee reduction by the end of the first quarter of fiscal year 2016, but certain reductions will occur in the second quarter of fiscal year 2016.
06:17 EDTAMZNConcerns over AWS pricing overblown, says Piper Jaffray
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05:51 EDTAAPLReport: Apple set to switch to OLED displays for iPhone, DigiTimes says
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05:51 EDTAAPLFoxconn expects to be largest handset, tablet ODM/OEM in 2015, DigiTimes says
Foxconn Chairman Terry Guo said the company is set to be the largest OEM/ODM for handsets, tablets and desktops in 2015, reports DigiTimes. Guo added that Foxconn will establish component supply chains to increase its advantage over competitors. Reference Link
June 25, 2015
18:32 EDTAMZNAmazon establishes $100M fund for voice technology
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16:49 EDTAMZNAmazon.com initiated with a Buy at Mizuho
Target $498.
16:00 EDTAAPLOptions Update; June 25, 2015
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14:59 EDTAAPLFitbit tacks on gains after Leerink calls smartwatch competition overblown
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12:59 EDTAMZNOptions with increasing implied volatility
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11:37 EDTAAPLTaylor Swift says to put '1989' on Apple Music
Recording artist Taylor Swift says in a tweet that "After the events of this week, I've decided to put 1989 on Apple Music...and happily so." Reference Link
10:31 EDTCACA Technologies appoints Jeff DeMarrais as Chief Communications Officer
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10:00 EDTAMZNOn The Fly: Analyst Downgrade Summary
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09:34 EDTAMZN, AAPLActive equity options trading on open
Active equity options trading on open: AAPL FB NFLX AMZN BAC CVX TWTR INTC GILD BBBY
09:04 EDTAMZNAmazon opens Alexa Voice Service to third party hardware makers
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07:12 EDTEXPEExpedia Q2 trends positive, says Cantor
After conducting checks, Cantor says that hotel rates in Europe and the U.S. are improving, while Internet metrics look favorable for Expedia. The firm keeps a $120 price target and Buy rating on the stock.
06:31 EDTAAPLMicrosoft focusing on increasing smartphone sales in India, WSJ reports
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06:25 EDTAMZNAmazon.com downgraded to Hold from Buy at Evercore ISI
Evercore downgraded Amazon.com to Hold and maintained its $460 price target. The firm downgraded shares due to valuation and growing capital investment through leasing activity. Evercore ISI said increased capital leasing activity has grown to over 50% of capital investment in Q1 2015 from 33% in Q1 2013, making modeling free-cash-flow upside more difficult.
06:20 EDTAAPLIndependent music labels say they now support Apple Music, AP reports
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05:53 EDTAAPLApple to increase flexible PCB orders, DigiTimes reports
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June 24, 2015
16:21 EDTAAPLOn The Fly: Top stock stories for Wednesday
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16:00 EDTAAPLActionable Options for Wednesday, June, 24
iPath S&P 500 VIX Short-Term Futures up 30c to 17.32 Option volume leaders: AAPL FB NFLX BAC VALE MU BABA WMB T F EBAY FCX TWTR BBRY
14:13 EDTAAPLApple blocks use of app data to target ads, The Information reports
Apple (AAPL) is "quietly moving" to block companies from accessing data from other, unrelated apps, a practice which was used to target ads, says The Information. The report notes that Facebook (FB) and Twitter (TWTR) often analyze information from other apps on a user's phone in order to better target ads. Reference Link
12:45 EDTAAPLIcahn says have not sold one share of Apple
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12:37 EDTAAPLApple where Netflix was a couple of years ago, Icahn says
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12:36 EDTAAPLIcahn says Apple shares still have 'hundreds of points' left
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12:30 EDTAAPLOn The Fly: Top stock stories at midday
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11:16 EDTAMZNOptions with increasing implied volatility
Options with increasing implied volatility: WMB AMZN CMG BIIB VMW QLIK ISRG FB UA FFIV
10:44 EDTAAPLCarl Icahn sells last of Netflix stake, positive on Apple
Carl Icahn said via Twitter, "Sold last of our $NFLX today. Believe $AAPL currently represents same opportunity we stated NFLX offered several years ago."
09:48 EDTAAPLApple reaches royalty deal with Beggars Group
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09:37 EDTAAPLReport: Apple may adopt flexible OLED displays in 2018, DigiTimes says
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09:35 EDTAAPLActive equity options trading on open
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09:30 EDTAAPLGoogle competing with itself after unveiling free music service, Bloomberg says
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09:19 EDTAMZNAmazon price target raised to $500 from $460 at Axiom
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09:18 EDTAAPLApple June quarter iPhone demand strong, says Morgan Stanley
Morgan Stanley's AlphaWise survey indicates 53M iPhone unit demand for the June quarter, unchanged from last month's reading. The firm adds that Apple Watch demand has sustained healthy levls after the initial spike and investor expectations for iPhone and Watch growth are low. Morgan Stanley rates Apple an Overweight with a $166 price target.
09:02 EDTAMZNAmazon says HDR now available on Instant Video for Prime members
Amazon announced that Prime members in the US can instantly watch the debut season of the Amazon Original Series, Mozart in the Jungle in high dynamic range, or HDR, at no additional cost to their membership, marking the first video service to offer HDR
07:45 EDTAAPLSharp asking suppliers to cut prices for LCD parts, WSJ says
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06:12 EDTAAPLiPhone 6 resale value suggests strong demand, says Piper Jaffray
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06:00 EDTAAPL, AMZNGoogle held 29 high-level meetings in Brussels in 6 months, Financial Times says
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05:49 EDTAMZNStocks with implied volatility movement; AMZN LNG
Stocks with implied volatility movement; Amazon.com (AMZN) 34, Cheniere Energy (LNG) 35 according to iVolatility.
June 23, 2015
18:27 EDTAAPLLiquidmetal, Apple extend intellectual property agreement
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18:04 EDTAMZNWal-Mart poaches technology talent from eBay, WSJ says
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16:00 EDTAMZN, AAPLOptions Update; June 23, 2015
iPath S&P 500 VIX Short-Term Futures down 46c to 17. Option volume leaders: AAPL FB AAPL T BAC MU BTU WMB AMZN TWTR BBRY
14:57 EDTAMZNAmazon.com to remove Confederate flag merchandise from site, Reuters says
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14:42 EDTAMZNAmazon.com to remove Confederate flag merchandise from site, Reuters says
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12:54 EDTAAPLPC concerns weighing on shares of Seagate, Western Digital
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11:00 EDTAMZNOptions with increasing implied volatility
Options with increasing implied volatility:TRIP WPZ CMG BIIB WMB AMZN ISRG VMW
09:36 EDTAAPLActive equity options trading on open
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09:01 EDTAMZNAmazon.com says Amazon Echo now available to all customers
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09:00 EDTAAPLTelus, BCE, Rogers to roll out mobile payments app, Bloomberg reports
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08:20 EDTAMZNCLSA IT outsourcing analyst holds an analyst/industry conference call
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08:04 EDTAAPLApple Watch launch buzz lagging behind other devices, says Bernstein
After analyzing Internet search data, Bernstein estimates that the Internet "buzz" on the Apple Watch was only about 1/3 of the iPhone at its launch and about 1/4 of the iPod at its launch. Based on this data, the firm estimates that Apple will sell only 750,000 units of the Watch in Q3 and 1.3M in Q4. Nonetheless the firm thinks the Watch can be accretive to Apple's gross margins and could generate significant sales volumes going forward. Bernstein keeps a $142 price target and Outperform rating on Apple.
07:46 EDTAMZNPiper Jaffray to hold a field trip
Seattle Field Trip travels throughout Seattle visiting with Costco, Starbucks and Amazon on June 23-24.
06:05 EDTAAPLNo clear prospects for PC component suppliers until July, DigiTimes reports
There are no clear business prospects for PC component suppliers until July, reports DigiTimes. According to sources in the supply chain, Intel's decision to delay the launch of its Skylake platform has weakened market demand for notebooks and other PC systems. The planned release of Microsoft (MSFT) Windows 10 may also affect the production of PC makers. Reference Link
06:04 EDTAMZNOracle says extending enterprise cloud portfolio
At a live event yesterday, Oracle (ORCL) Executive Chairman of the Board and CTO Larry Ellison announced new additions to the Oracle Cloud Platform, a comprehensive, integrated suite of services that make it easier for developers, IT professionals, business users and analysts to build, extend and integrate cloud applications. With more than 24 new cloud services, the Oracle Cloud Platform "extends Oracle's leadership with the world's broadest and deepest portfolio" of SaaS, PaaS and IaaS. Newly available Oracle Cloud services include, Oracle Database Cloud - Exadata, Oracle Archive Storage Cloud, Oracle Big Data Cloud, Oracle Integration Cloud, Oracle Mobile Cloud, and Oracle Process Cloud. The Oracle Cloud Platform helps customers build new applications, extend existing ones, and easily move existing on-premises workloads to the cloud with no application changes. The services are designed to maximize end user experience and productivity; enable developers to manage and analyze data, rapidly develop, test and deploy applications; enable architects to quickly integrate across on-premises and cloud applications; and enable business users to drive rich business insights and enterprise collaboration. With the Oracle Cloud Platform, customers and partners are able to take advantage of the industry-leading Oracle middleware and database software that thousands of global organizations already use to run their own businesses, all delivered via cloud. The extensive level of automation that has been engineered into the Oracle Cloud, results in faster time-to-value, greater innovation, and lower cost for customers. "Oracle is growing really fast. We sold $426M worth of business in SaaS and PaaS last quarter, a 200 percent increase over the same quarter last year. That's an industry record, no company has ever sold that much in just one quarter," said Ellison. "Oracle is the only company on the planet that can deliver a complete, integrated, standards-based suite of services at every layer of the cloud. Those technology advantages enable us to be much more cost-effective than our competitors. Our new Archive Storage service goes head-to-head with Amazon Glacier (AMZN) and it's one-tenth their price."
05:56 EDTAAPLEarnings Watch: Analyst says BlackBerry's FY16 targets looking 'unttainable'
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05:56 EDTAMZNStocks with implied volatility movement; AMZN AMBA
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June 22, 2015
19:36 EDTAAPLApple Music artist royalties may be 'insignificant' during trial, WSJ says
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17:43 EDTAMZNAmazon to pay independent authors by number of pages read, Reuters says
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16:00 EDTAAPLOptions Update; June 22, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 17.45. Option volume leaders: AAPL FB BAC CHK WMB BABA TWTR MU AMBA TSLA JPM
14:42 EDTAAPLOculus potential not reflected in Facebook's stock price, Piper Jaffray says
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13:33 EDTAAPLApple iPhone redesign without home button not before 2017, AppleInsider says
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10:46 EDTEXPEAirbnb to hurt Priceline more than Expedia, Deutsche Bank says
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10:00 EDTEXPE, EMNOn The Fly: Analyst Upgrade Summary
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09:40 EDTAAPLActive equity options trading on open
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08:09 EDTAAPLMasimo receives CE Mark for MightySat Rx pulse oximeter
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07:46 EDTAAPLApple CEO: Chinese consumer tastes weighed in product designs, Bloomberg says
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07:46 EDTEMNEastman Chemical upgraded to Buy from Neutral at Nomura
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07:19 EDTEXPEExpedia upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Expedia (EXPE) to Buy citing an improving core business and cost synergies from acquisitions. The firm sees a path for Expedia to reach $200 per share over the next five year. It raised its price target for the stock to $130 from $95. Deutsche coupled the upgrade with a downgrade of Priceline (PCLN).
07:17 EDTEXPEPriceline downgraded to Hold from Buy at Deutsche Bank
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07:05 EDTCERNCerner management to meet with FBR Capital
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06:42 EDTEXPEExpedia upgraded to Buy from Hold at Deutsche Bank
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06:23 EDTAMZNAmazon updates customer reviews system with machine learning, CNet says
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05:59 EDTAAPLApple developing in-house TDDI solutions, DigiTimes reports
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05:55 EDTAAPLApple changes tune over music streaming royalties, Financial Times says
Apple has agreed to pay for all the music carried on its new streaming music service during free trials, reports the Financial Times. The company signaled the climbdown after singer Taylor Sift released an open letter Sunday that denounced Apple Music as "shocking" and "disappointing.", adding that her views were shared by "every artist, writer and producer" in her social circles. The company will now pay for the music it streams during free trials, though it would pay less for each stream than it will when a user has taken a full subscription. Reference Link
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