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Stock Market & Financial Investment News

News Breaks
January 29, 2014
12:40 EDTMKC, GOOG, T, EA, YHOO, BA, AOL, VRNG, DOWOn 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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November 7, 2014
09:36 EDTGOOGActive equity options trading
Active equity options trading according to Track Data: AAPL WFM ABX GILD TSLA ZNGA FB FSLR GOOG AMZN
08:46 EDTTCord cutting accelerates as pay-TV loses 179K customers in Q3, WSJ reports
The pay-TV industry lost about 179K customers in Q3, which is steeper than the decline of 83K in the same quarter of last year, reported The Wall Street Journal, citing company reports and estimates from research firm MoffettNathanson. Companies that provide television service include AT&T (T), Verizon (VZ), DISH (DISH), Charter (CHTR), DirecTV (DTV), Cablevision (CVC), Comcast (CMCSA) and Time Warner Cable (TWC). Netflix (NFLX) and Amazon (AMZN) provide television and movie streaming services that compete with broadcast and cable television network offerings. Reference Link
06:46 EDTGOOGMicrosoft begins offering free iPhone Office apps
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06:39 EDTGOOGLenovo to launch low-cost Chromebook in early 2015, DigiTimes reports
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06:38 EDTBABoeing 737 hits buffalo during takeoff, Bloomberg says
One of SpiceJet's Boeing 737 planes collided with a buffalo during its takeoff from an airport in western Gujarat, which caused officials to ground the aircraft, according to Bloomberg, citing an e-mailed statement from SpiceJet. The 140 passengers on-board were not harmed, but the plane endured "significant damage." Reference Link
06:18 EDTAOL, YHOOAOL downgraded to Neutral from Buy at Citigroup (yesterday)
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November 6, 2014
16:00 EDTDOWOptions Update; November 6, 2014
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15:52 EDTGOOGApple appears to be crawling HTML sites with bot, AppleInsider says
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14:44 EDTYHOOYahoo price target raised to $53 at BGC Financial citing Alibaba advance
BGC Financial increased its price target on Yahoo (YHOO) to $53 from $50, citing an increased valuation attributable to the company's stake in Alibaba (BABA), whose shares have advanced over 19% since October 22. BGC, which maintains its Buy rating on Yahoo, values the company's stake in Alibaba at $42B, its stake in Yahoo Japan at $7B and the firm continues to value Yahoo's core business at $7B.
14:14 EDTAOLAOL downgraded to Neutral from Buy at Citigroup
14:08 EDTVRNGFTC bars patent firm from using deceptive tactics
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14:08 EDTTDirecTV says FCC AT&T review clock should begin mid-next week
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13:57 EDTAOLAOL Q3 display advertising weaker than expected, says Cantor
Cantor Fitzgerald lowered its price target for AOL shares to $48 from $50 saying the company's Q3 Brand Group display advertising revenue was weaker than expected. The firm keeps a Buy rating on the stock, however, believing the valuation doesn't reflect the strength of AOL Networks over time.
13:04 EDTGOOGEarnings Preview: Analysts positive on NVIDIA ahead of Q3 earnings report
NVIDIA (NVDA) is expected to report third quarter earnings after the close on Thursday, November 6, with a conference call scheduled for 5:00 pm ET. NVIDIA is a semiconductor manufacturer that produces graphics chips used in personal computers as well as mobile processors used in cell phones and tablets. EXPECTATIONS: Analysts are looking for earnings per share of 29c on revenue of $1.2B. The consensus range is 27c-31c for EPS on revenue of $1.2B-$1.22B, according to First Call. In its last earnings report, NVIDIA said it expects Q3 revenue of $1.2B, plus or minus 2%, which was higher than analysts' consensus of $1.16B at the time. LAST QUARTER: On August 6, NVIDIA reported second quarter EPS of 30c, which beat the consensus forecast of 20c, on revenue of $1.1B, which matched analysts consensus of $1.1B. COMPANY NEWS: On August 26, NVIDIA, VMWare (VMW) and Google (GOOG) announced a collaboration to deliver high-performance virtual desktops and workstation-class graphic on Google Chromebooks. The partnership is anticipated to broaden the hardware options for high-performance virtual desktops. On September 4, NVIDIA announced that it filed complaints against Samsung (SSNLF) and Qualcomm (QCOM) at the International Trade Commission and in the U.S. District Court in Delaware, alleging that the companies were both infringing NVIDIA GPU patents covering technology including programmable shading, unified shaders and multithreaded parallel processing. The identified Samsung products included the Galaxy Note Edge, Galaxy Note 4, Galaxy S5, Galaxy Note 3 and Galaxy S4 mobile phones and the Galaxy Tab S, Galaxy Note Pro and Galaxy Tab 2 computer tablets. STREET RESEARCH: On August 8, Needham upgraded NVIDIA to Buy from Hold. The firm believed that the change in the company's strategy reduced its earnings volatility and raised its margins, while the stock's decline has created a good entry point. The firm also noted that the company reported better than expected results and provided stronger than expected guidance. NVIDIA announced that it had filed graphics processing units patent infringement lawsuits against both Samsung and Qualcomm, Stifel said on September 5 that the lawsuits could at a minimum cause other companies to conclude licensing deals with NVIDIA. The firm kept a $22 price target and Buy rating on NVIDIA. After NVIDIA (NVDA) filed lawsuits against Qualcomm (QCOM) and Samsung, JMP Securities noted that there was a good chance that NVIDIA would obtain a favorable ruling or settlement that is equal or greater to the $1.5B deal it cut with Intel (INTC). The firm thought that other companies, most notably Apple (AAPL), would launch talks with NVIDIA in the wake of the lawsuit. JMP Securities recommended buying NVIDIA ahead of upcoming Apple product refreshes and what it sees as accelerating growth trends for NVIDIA. The firm was upbeat about NVIDIA's new products and reiterated an Outperform rating. Pacific Crest upgraded NVIDIA to Sector Perform from Underperform on November 3. The firm expected the company's share gains in high end desktop GPU and AMD's (AMD) product delays to enable NVIDIA's results to meet or exceed consensus estimates in the near to medium term. PRICE ACTION: Since issuing preliminary earnings on August 6, shares of NVIDIA are up over 12.5%. During late-morning trading, shares of NVIDIA are down fractionally to $20.02.
12:08 EDTBABoeing reports 35 new orders in weekly update
In an update on its orders through November 4 posted to its website, Boeing reported 35 new orders, including Monarch Airlines' 30 737s, three 737s for unidentified customer(s) and two 777s for business jet / VIP customer(s). As reported earlier, Boeing identified Air Canada's order for two 777s listed previously as unidentified. Boeing updated its 2014 gross orders to 1152 and its 2014 net orders to 1046.
10:06 EDTBABoeing, Air Canada announce order for two additional 777-300ERs
Boeing and Air Canada announced an order for two additional 777-300ER airplanes. The order, previously listed as unidentified on Boeing’s Orders & Deliveries website, is valued at $660M at list prices.
08:26 EDTBAUnited Technologies to support Boeing CST-100 vehicle
United Technologies (UTX) unit UTC Aerospace Systems is supporting the development of Boeing's (BA) CST-100 Commercial Crew Transportation System, which won a $4.2B Commercial Crew Transportation Capability Contract from NASA on September 16. UTC Aerospace Systems is responsible for the design, development, qualification and production of components for the Environmental Control and Life Support Subsystem on the CST-100.
07:02 EDTAOLAOL reports Q3 adjusted EPS 52c, consensus 52c
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06:22 EDTGOOGGlobal companies silent on local impact, transparency report shows
Transparency International issued a report saying that global companies are saying too little regarding their businesses abroad. The agency said, "The world’s biggest companies disclose little or no financial details about their operations outside their home country, a new report from Transparency International reveals. Ninety of the 124 companies assessed do not disclose the taxes they pay in foreign countries, while 54 disclose no information on their revenues in other countries. BHP Billiton (BHP), Eni (E), Statoil (STO) and Vodafone (VOD) scored more than six out of ten. The four companies report on a range of corruption prevention measures and disclose details of subsidiaries. However, only three companies, Statoil, Telefónica (TEF) and Vodafone score above 50% for country-by-country reporting, disclosing tax payments in almost all the countries where they operate, though not all financial data. Forty-four of the firms in the report are American, of which Amazon (AMZN), Berkshire Hathaway (BRK.A, BRK.B) and Google (GOOG) performed worst. Only two US companies publish tax payments in foreign countries, ConocoPhilips (COP) in Canada, Walmart (WMT) in Chile. Surprisingly, the sector that makes greater transparency possible is one of the least transparent. U.S. tech giants Amazon, Apple (AAPL), Google and IBM (IBM) all score less than three out of ten." Reference Link
06:16 EDTGOOGGoogle Maps to integrate OpenTable restaurant reservations
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