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Stock Market & Financial Investment News

News For BAC;CLF;C;DELL;AMZN;INTC;HPQ From The Last 14 Days
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July 30, 2015
10:09 EDTAMZNOptions with decreasing implied volatility
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08:45 EDTBACMerill Lynch brokers threaten to leave 'in mass,' Fox Business reports
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06:55 EDTBACBanks pitch total-return swaps as stock purchase alternative, WSJ reports
Banks have been pitching certain hedge fund clients on using derivatives instead of actual stocks when placing certain bets in an effort to lessen the impact of new capital rules on the banks' businesses, the Wall Street Journal reports, citing people familiar with the efforts. The shift involves derivatives known as total-return swaps that mirror the effects of owning a stock or other asset, the report says. Units of Bank of America (BAC), Goldman Sachs (GS), JPMorgan Chase (JPM), Morgan Stanley (MS), and UBS (UBS) are among the banks asking clients to shift trades into total-return swaps instead of underlying securities, the report says. Reference Link
05:51 EDTHPQStocks with implied volatility above IV index mean; ZNGA HPQ
Stocks with implied volatility above IV index mean; Zynga (ZNGA) 66, Hewlett-Packard (HPQ) 36 according to iVolatility.
July 29, 2015
18:15 EDTAMZNAmazon nears $30M e-book contract with NY Department of Education, CNY says
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16:00 EDTBAC, CLFOptions Update; July 29, 2015
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14:12 EDTHPQEarnings Watch: Hard drive makers report amid PC sector fears
Western Digital (WDC) and Seagate (STX) are expected to report quarterly results on July 29 and 31 with conference calls scheduled for 5:00 pm ET and 9:00 am ET, respectively. The two companies develop and manufacture computer storage solutions, including hard disk drives. EXPECTATIONS: Analysts are expecting Western Digital to report earnings per share of $1.45 on revenue of $3.25B, while Seagate is expected to report earnings per share of 64c on revenue of $2.92B. During its last earnings conference call, Western noted a "cautious" near-term outlook and forecast Q4 EPS to be $1.50-$1.60 on revenue of $3.3B-$3.4B. PRELIMINARY RESULTS: On July 13, Seagate reported preliminary Q4 revenue of $2.9B, adjusted gross margins of 27%, and 45M unit shipments, driven by what the company characterized as "lower than expected intra-quarter demand." The company had previously guided Q4 revenue to $3.2B-$3.3B, and analysts were looking for $3.19B in revenue at the time. LAST QUARTER: On April 17, Seagate reported Q3 adjusted EPS of $1.08 against expectations for $1.04, and revenue of $3.3B versus estimates of $3.4B. Following that, Western Digital reported Q3 EPS of $1.87 on April 28 versus estimates of $1.89, and revenue of $3.5B against expectations for $3.6B. NEWS: On May 1, Seagate announced plans to combine its Cloud Systems and Electronic Solutions groups, and on July 14, the company said it extended its alliance with HP (HPQ). STREET RESEARCH: On May 15, RBC called Western Digital shares "compelling" due to multiple near-term positive catalysts, though Morgan Stanley said on May 19 that it was just "cautiously optimistic" on Western because of softened growth expectations for the general PC market. On May 28, Goldman Sachs called fears of PC weakness overdone and upgraded Western Digital to Buy, saying the company's increasingly enterprise-heavy mix gives it a healthy long-term profit forecast. On June 12, Longbow reported that its hard drive price checks were not quite as bad as it had feared, adding that Western Digital's guidance appears achievable while Seagate's forecast appeared at risk. Heading closer to earnings, Citi said on July 2 that it expects somewhat weak quarterly results for the two hard drive giants but recommended buying both Western Digital and Seagate shares on any perceived post-earnings weakness. Stifel somewhat echoed that point on July 8, saying investor sentiment seemed overly negative towards Western, with traders potentially underestimating the company's shift towards enterprise products. Note that on July 23, Morgan Stanley said its June CIO survey indicated incremental enterprise IT budget weakness, leading the research firm to downgrade Western Digital to Equal Weight and drop Seagate two notches to Underweight. On the M&A front, Susquehanna said on May 29 that SanDisk (SNDK) remained an attractive takeover target, with Western Digital looking like a likely buyer. However, RBC and CLSA both raised doubts on June 5 about the possibility of such a deal. PRICE ACTION: Shares of Western Digital are up 1.34% to $78.83 ahead of Wednesday's report, while Seagate is up 0.84% to $49.28.
10:58 EDTCLFCliffs Natural Resources sees trade cases as 'game changer' for steel makers
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10:36 EDTINTCLockheed Martin launches healthcare technology alliance
Lockheed Martin (LMT) announced the formation of a new healthcare technology alliance, combining the expertise of health IT providers, medical technology companies, and academic institutions to advance public health. The Lockheed Martin Healthcare Technology Alliance's founding members include: Cisco (CSCO), Cloudera, Illumina (ILMN), Intel (INTC) and Montgomery College. The members of the Lockheed Martin Healthcare Technology Alliance will collaborate on technology solutions that help improve care in rapidly evolving and growing areas of health technology such as those that: secure patient medical information; leverage advances in genomic research; and apply big data solutions to improve public health.
10:23 EDTCLFCliffs Natural Resources says it has 'ample liquidity'
Says customers updated forecast for prices was "substantially lower" than prior quarter. Says has opportunity to optimize working capital. Says able to maintain cost guidance despite volume cuts. Says it expects to receive anticipated $160M federal tax refund. Sees FY15 SG&A guidance of $120M. Says continues to resolve all issues left from previous regime. Says has moved forward with divestiture of several assets. Says "we control our destiny and our use of cash." Says working diligently with interested buyers for Pinnacle toward a deal, expects to announce in very near future. Says will continue to pursue further cost reduction opportunities in order to stay cash flow positive. Says will be temporarily be idling production at United Taconite facility. Comments taken from Q2 earnings call. In morning trading, shares in Cliffs Natural Resources were down 7.74% to $2.74.
10:01 EDTHPQBox names Paul Chapman as Chief Information Officer
Box (BOX) announced that 25-year IT industry veteran Paul Chapman has joined the company as its Chief Information Officer, responsible for driving a broad range of IT initiatives to support the company’s more than 1,200 employees worldwide and customer base of 47,000 organizations. Chapman was most recently CIO of HP Software for Hewlett-Packard Company (HPQ).
10:00 EDTAMZNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 3D Systems (DDD) upgraded to Neutral from Underperform at Longbow... AK Steel (AKS) upgraded to Outperform from Neutral at Macquarie... Ally Financial (ALLY) upgraded to Outperform from Neutral at Credit Suisse... Amazon.com (AMZN) upgraded to Buy from Hold at Stifel... Arrow Electronics (ARW) upgraded to Buy from Underperform at CLSA... Beacon Roofing (BECN) upgraded to Buy from Neutral at CL King... Citrix (CTXS) upgraded to Outperform at Baird... Commvault (CVLT) upgraded to Buy from Hold at Jefferies... FireEye (FEYE) upgraded on positive checks, business mdoel changes at Oppenheimer... Hibbett Sports (HIBB) upgraded to Neutral from Underperform at Sterne Agee CRT... Integra LifeSciences (IART) upgraded to Outperform at Raymond James... M/A-COM (MTSI) upgraded to Buy from Hold at Needham... Norsk Hydro (NHYDY) upgraded to Neutral from Underperform at Exane BNP Paribas... NuVasive (NUVA) upgraded to Outperform from Market Perform at Northland... SM Energy (SM) upgraded to Outperform from Market Perform at Raymond James... Scorpio Bulkers (SALT) upgraded to Buy from Hold at Deutsche Bank... Sirius XM (SIRI) upgraded to Buy from Hold at Wunderlich... Sprouts Farmers Markets (SFM) upgraded to Neutral from Underperform at Longbow... Supervalu (SVU) upgraded to Equal Weight from Underweight at Morgan Stanley... Waters (WAT) upgraded to Outperform from Market Perform at Wells Fargo... Wells Fargo (WFC) upgraded to Buy from Neutral at Guggenheim... Williams-Sonoma (WSM) upgraded to Overweight from Neutral at JPMorgan... YRC Worldwide (YRCW) upgraded to Strong Buy at Raymond James.
09:04 EDTAMZNAmazon says to debut two new dramatic plots on Amazon Instant Video on Aug. 7
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08:21 EDTCLFCliffs Natural backs FY15 capital expenditure budget of $100M-$125M
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08:18 EDTCLFCliffs Natural reports Q2 U.S. iron ore pellet sales volume down 2% to 4.2M tons
Cliffs Natural reports U.S. Iron Ore pellet sales volume in Q2 was 4.2M tons, a 2% decrease when compared to the second quarter of 2014. The decrease was driven by reduced year-over-year export sales and lower demand by U.S. mills, partially offset by improved shipping conditions on the Great Lakes. Cash production cost per ton in U.S. Iron Ore was $56.06, down 9% from $61.37 in the prior year's second quarter. The decrease was driven by a reduction in salaried workforce headcount and overall reductions in employment costs along with a year-over-year reduction in energy rates. This was partially offset by decreases in production volume due to scheduled maintenance and repairs. Realized revenue rates of $78.32 per ton were lower than previously guided as a result of a significant adjustment to the hot-band steel price estimate for one major contract.
08:17 EDTCLFCliffs Natural reports Q2 EPS 39c, consensus (11c)
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07:05 EDTAMZNAmazon.com upgraded to Buy with $700 target at Stifel
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06:29 EDTINTCIntel defines 6 desktop market segments for CPU platforms, DigiTimes reports
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06:29 EDTAMZNAmazon.com upgraded to Buy from Hold at Stifel
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05:59 EDTCLFStocks with implied volatility movement; AMGN CLF
Stocks with implied volatility movement; Amgen (AMGN) 30, Cliffs Natural (CLF) 125 according to iVolatility.
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