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August 30, 2013
12:24 EDTLCC, CRM, OVTI, AAMRQ, APA, KKD, SPLKOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as the worst month for the market in some time looks set to have a fitting last day of trading. Investors received data on personal spending, a regional business barometer and a final confidence reading for the month, but given the risks of a possible weekend military action in Syria investors did not appear ready to add to their stock exposure ahead of the long holiday weekend. The Nasdaq, which was within striking distance of ending the week in positive territory early in the session, has dropped along with the other averages, making it look as if it will suffer its fourth consecutive weekly decline. ECONOMIC EVENTS: In the U.S., consumer spending rose less than forecast in July as income growth slowed. Personal income in the month rose 0.1%, versus the expected increase of 0.2%, while personal spending rose 0.1%, versus an expected 0.3% increase. The Chicago ISM rose 0.7 points to 53.0 in August, matching the forecast of analysts. The final August reading of the University of Michigan Consumer Sentiment survey was revised up to 82.1, which was higher than the preliminary August estimate of 80.0, but lower than Julyís reading of 85.1. In Asia, Japanís consumer prices increased at the fastest pace since 2008 in July, a sign Prime Minister Shinzo Abe's steps to pull the nation's economy out of 15 years of deflation have made progress. COMPANY NEWS: Shares of energy explorer Apache (APA) rose after the company announced a deal to sell a 33% stake in its Egyptian business to China's Sinopec for $3.1B in cash. A number of analysts reacted positively to the news and Apache's stock advanced about 7% near noon... A judge sided with US Airways (LCC) and American Airlines parent AMR Corp. (AAMRQ) and set a November date for a trial to rule on the Department of Justice's challenge to the airlines' proposed merger. Shares of US Air rose 4% and AMR shares were up nearly 9% following the ruling. MAJOR MOVERS: Among the notable gainers was enterprise cloud computing provider (CRM), which rose 14% after the company beat second quarter estimates and raised its full year 2014 outlook. Also higher following its earning report was another tech name, Splunk (SPLK), which was upgraded at FBR Capital and gained 11%. Among the noteworthy losers was image-sensor devices company OmniVision Technologies (OVTI), which fell over 15% after the company's first quarter revenue fell shy of consensus estimates and it issued disappointing guidance. Also lower following its earnings report was donut maker Krispy Kreme (KKD), which saw its stock drop 14%. INDEXES: Near noon, the Dow was down 39.84, or 0.27%, to 14,801.11; the Nasdaq was down 24.24, or 0.67%, to 3,596.06; and the S&P 500 was down 4.55, or 0.28%, to 1,633.62.
News For APA;CRM;SPLK;AAMRQ;LCC;KKD;OVTI From The Last 14 Days
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November 18, 2015
14:23 EDTCRMSalesforce technical comments ahead of earnings
The stock is trading relatively close to lifetime highs ahead of earnings. The trend has been strongly bullish since January 2012, with price having recently tested near the $80 area, the life high is at $79.82. If the news is a positive surprise, a breakout above the $80 area seems probable, opening up a run to the $85 level. If the news is a bearish disappointment, there is significant support at the $75 area. If that breaks, next support below would be at $73.08 and then at $71.05.
13:47 EDTCRMSalesforce November 77 straddle priced for 7% movement into Q3
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12:48 EDTAPAApache volatility elevated as WTI crude oil trades below $40
Apache current 30-day overall call option implied volatility is at 49, compared to a one-month ago of 41; suggesting large price movement as WTI crude oil traded below $40/bbl level.
08:16 EDTCRMSalesforce volatility increases into Q3 and outlook
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07:49 EDTKKDStephens to host a tour
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07:23 EDTSPLKSplunk checks suggest Q3 outperformance, says Stephens
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05:37 EDTCRMStocks with implied volatility above IV index mean; CRM BBY
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November 17, 2015
15:43 EDTCRMStutz leaving Microsoft to join Salesforce, Re/code reports
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10:11 EDTAPAOptions with decreasing implied volatility
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08:38 EDTAPAApache assets do not warrant a premium, says Canaccord
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08:10 EDTAPAMitsubishi UFJ to hold a conference
Oil & Gas Conference is being held in New York on November 17.
08:10 EDTSPLKSplunk volatility elevated into Q3 and outlook
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07:33 EDTSPLKSplunk results should modestly beat expectations, says RBC Capital
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05:24 EDTCRMStocks with implied volatility above IV index mean; CRM HD
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November 16, 2015
08:05 EDTAPAEnLink Midstream acquires full ownership of Deadwood facility from Apache
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07:42 EDTAPAAnadarko named a Top Pick at Cowen
Cowen moved Anadarko (APC) to a Top Pick, citing valuation and the company's ability to execute large, complex mergers. Cowen noted Anadarko approached Apache (APA) and declined when the deal did not happen, but the firm sees material upside for Anadarko shares. Cowen reiterated its Outperform rating and $87 price target on Anadarko.
05:30 EDTCRMStocks with implied volatility above IV index mean; ODP CRM
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November 13, 2015
15:52 EDTAPAApache to hold a conference call
Management discusses the company's North Sea Region's current operations and drilling success on a conference call to be held on November 17 at 10 am. Webcast Link
08:37 EDTCRMSalesforce volatility elevated into Q3 and outlook
Salesforce November call option implied volatility is at 74, December is at 45, January is at 40; compared to its 52-week range of 27 to 60, suggesting large near term price movement into the expected release of Q3 results on November 18.
05:24 EDTCRMStocks with implied volatility above IV index mean; ODP CRM
Stocks with implied volatility above IV index mean; Office Depot (ODP) 108, Salesforce (CRM) 48 according to iVolatility.
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