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Stock Market & Financial Investment News

News Breaks
January 29, 2014
12:40 EDTBA, T, DOW, YHOO, GOOG, VRNG, EA, MKC, AOLOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday ahead of the last FOMC policy decision announcement of Ben Bernanke's tenure. Stocks began the session deep in negative territory thanks in part to foreign currency pressures in a number of emerging markets, including Turkey, Argentina and South Africa. There was also weakness in Dow components Boeing (BA) and AT&T (T) following their earnings reports. The market had recouped a fair part of its losses by noon as investors await the Fed's decision and the associated comments following its two day rate-setting meeting that concludes today. ECONOMIC EVENTS: In the U.S., the FOMC statement is scheduled to be released at 2:00 pm ET. In emerging markets, South Africa's central bank decided to increase interest rates for the first time in almost six years and the rand tumbled sharply after the country’s bid to halt the decline in the currency appeared to have backfired within minutes of the announcement. The reaction sparked a renewed sell-off in emerging market currencies, including the Turkish lira, which gave up all the gains it had registered after Turkey's central bank took aggressive action overnight to tighten its monetary policy. COMPANY NEWS: Dow member Boeing reported better than expected fourth quarter results, but the commercial airplane maker is the worst loser on the blue-chip index after it also issued guidance for fiscal 2014 that fell significantly short of expectations. Boeing guided to FY14 core EPS and revenue that were both well below consensus expectations. The company said it expects to make commercial deliveries of 715 to 725 planes in 2014 and expects operating cash flow of about $6.25B in 2014. Analysts at Wells Fargo said Boeing's cash flow outlook in particular could pressure shares, as it could imply no major ramp-up in share repurchases, and the stock was down over 6% near midday... Fellow Dow component AT&T was the second worst performer among its peers following its own quarterly report, issued last night after the close. Like Boeing, the telecom company reported results that beat expectations for the just-completed quarter, but the phone carrier's stock slid nearly 2% after it said it expects adjusted earnings per share to grow in the mid-single digits in the coming year, with revenue expected to be up only 2%-3%. MAJOR MOVERS: Among the notable gainers was Dow Chemical (DOW), which rose over 3.5% after reporting fourth quarter profits and revenue that both exceeded analysts' consensus estimate and increasing its quarterly dividend and its share repurchase program. Also higher was video game maker Electronic Arts (EA), which advanced more than 3% after raising its fiscal year earnings outlook and being upgraded to Buy from Neutral at BofA Merrill Lynch. Shares of Vringo (VRNG) rose almost 30% after the company received a 6.5% royalty rate from a judge in its suit against Google (GOOG) and AOL (AOL). Among the noteworthy losers was Yahoo (YHOO), which fell more than 7% after issuing a first quarter outlook that disappointed and being downgraded to Hold from Buy at Gabelli. Also lower after issuing a lower than expected outlook was spice maker McCormick (MKC), which slid almost 7%. INDEXES: Near midday, the Dow was down 150.05, or 0.94%, to 15,778.51, the Nasdaq was down 27.28, or 0.67%, to 4,070.68, and the S&P 500 was down 12.36, or 0.69%, to 1,780.14.
News For BA;T;DOW;YHOO;GOOG;VRNG;EA;MKC;AOL From The Last 14 Days
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July 17, 2014
16:15 EDTGOOGGoogle reports Chief Business Officer Nikesh Arora leaving to join Softbank
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16:13 EDTGOOGGoogle reports Q2 average cost-per-click down 6%
Average cost-per-click, which includes clicks related to ads served on Google sites and the sites of our Network members, decreased approximately 6% over prior year and remained constant from Q1. Aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of our Network members, increased approximately 25% over prior year increased approximately 2% over Q1.
16:12 EDTGOOGGoogle reports Q2 sites revenue up 23% to $10.94B
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16:11 EDTGOOGGoogle reports Q2 EPS $6.08, consensus $6.24
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16:01 EDTGOOGOptions Update; July 17, 2014
iPath S&P 500 VIX Short-Term Futures up 2.66 to 29.93. Option volume leaders: AAPL FB GOOG APA MSFT PBR SUNE AMZN TWTR TSLA according to Track Data.
15:26 EDTGOOGNotable companies reporting after market close
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15:26 EDTGOOGRaymond James remains positive on Google ahead of tonight's results
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14:52 EDTYHOOYahoo Sports, NBC Sports announce expanded fantasy football coverage
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13:33 EDTGOOGAmazon.com reportedly deveoping Android app for Prime content, Cnet says
Amazon (AMZN) may soon release an app that would enable users of Google's (GOOG) Android operating system to stream content from Amazon's Prime Instant Video, PC Advisor reported, according to Cnet. Currently Amazon's Kindle Fire tablets and Apple's (AAPL) iPads are the only mobile devices that can access content from Prime, Cnet stated. Reference Link
12:52 EDTGOOGEarnings Preview: Google shares up 4.5% since last earnings report
Google (GOOG, GOOGL) is expected to report second quarter earnings after the market close on Thursday, July 17 with a conference call scheduled for 4:30 pm ET. Google is a global technology company that focuses on Internet search, cloud computing, and advertising technologies. EXPECTATIONS: Analysts are looking for earnings per share of $6.24 on revenue of $15.62B. The consensus range is $5.73-$6.64 for EPS, and $15.36B-$15.94B for revenue, according to First Call. LAST QUARTER: Google reported first quarter EPS of $6.27 against estimates of $16.40 on revenue of $15.42B against estimates of $15.52B. Google reported Q1 paid clicks up 26% and average cost-per-click decreased 9%. The company also reported Q1 Sites revenue $10.47B and Q1 Network revenue $3.4B. Google said it expects to continue to make "significant capital expenditures" and reported free cash flow in Q1 of $2.05B. NEWS: Google announced several acquisitions in the past quarter, most notably for music streaming service Songza, live video-streaming service Twitch, and high-res imaging satellite maker Skybox Imaging. The company also expanded Shopping Express to New York and other parts of California, including Los Angeles. There were also reports that Google has set aside $500M to expand the service worldwide. Bloomberg reported the company intends to spend a "significant portion" of its offshore cash to make acquisitions with nearly $20B-$30B on foreign companies and foreign technology rights. Google also entered the domain registration business through an invite-only beta website, may likely overhaul Google+ in the near future, and is said to be developing a 7-inch tablet that can capture 3D images. At Google's I/O opening keynote in June, the company said Android had over 1B users, Chrome for Mobile had 300M active users and Google Drive has over 190M active users. STREET RESEARCH: Cantor said the company's revenue growth relative to CapEx has declined in the past several years as it has spent less efficiently on growth than its peers. Susquehanna, on the other hand, said Google's recent underperformance has created a buying opportunity due to favorite mix shift and strong core growth at Google.com and YouTube. Ahead of the Q2 earnings report, Google's price target was also raised at Citigroup after channel checks with search marketing companies suggested the business accelerated slightly in Q2. PRICE ACTION: Google shares have risen 4.5% since the first day of trading following the company's Q1 report. In Wednesday afternoon trading ahead of Q2 report, Google shares are down a little over 1.5%.
12:03 EDTBABoeing says aware of reports on MH17 plane incident
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11:54 EDTBAMalaysia Airlines says lost contact of MH17 from Amsterdam
Malaysia Airlines said on its official twitter feed, "Malaysia Airlines has lost contact of MH17 from Amsterdam. The last known position was over Ukrainian airspace. More details to follow." According to media reports the plane was a Boeing plane. Reference Link
11:12 EDTYHOOOptions with decreasing implied volatility
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09:09 EDTGOOGSenate Commerce, Science & Transportation Committee holds a hearing
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09:06 EDTTAT&T and town of Carrboro sign agreement for 1 Gigabit network
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08:42 EDTYHOOCBS, Yahoo among potential CNN buyers if Time Warner divests, WSJ says
If Time Warner (TWX) were to divest CNN, which has been raised as a possiblity given the interest in Time Warner expressed by Fox News owner 21st Century Fox (FOXA), the "long list of potential buyers" would include CBS (CBS), Yahoo (YHOO) and Bloomberg LP, said The Wall Street Journal, citing media analysts and executives. Reference Link
08:39 EDTGOOGMicrosoft shifting some Nokia X designs to Lumia products running Windows
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06:50 EDTGOOGAirbus considering partnering with high tech companies, NY Times says
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06:47 EDTGOOGGoogle plans big push in India for Android One initiative, The Informations says
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06:41 EDTBADefense Department to seek rival bids for satellite launches, WSJ reports
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