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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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January 28, 2015
16:56 EDTBAC, CFederal judge says FOREX manipulation case to proceed, Reuters reports
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16:46 EDTAMZNAmazon.com announces Amazon WorkMail
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16:00 EDTAMZNOptions Update; January 28, 2015
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14:55 EDTAMZNAmazon.com WorkMail could lead to $10B+ opportunity, says RW Baird
After multiple news outlets reported that Amazon would announce a new enterprise e-mail and calendar solution called WorkMail, Robert W. Baird believes the product could lead to software-as-a-service solutions that could produce $10B + in revenue for Amazon. The firm keeps a $340 price target and Outperform rating on Amazon.
13:51 EDTAMZNAmazon.com will launch WorkMail, an email and calendar service, WSJ reports
Amazon (AMZN) plans to launch WorkMail, an email and electronic calendar service, hoping to compete against Microsoft (MSFT) and Google (GOOG) in the corporate-email marketplace, Wall Street Journal reports. The company hopes that its sales pitch of "simplicity and security" will pull customers in. Reference Link
11:21 EDTAMZNAmazon.com volatility elevated into Q4 and outlook
Amazon.com January weekly call option implied volatility is at 131, February is at 48, March is at 41; compared to its 26-week average of 34 according to Track Data, suggesting larger near term price movement in the expected release of Q4 results on January 29.
09:35 EDTCActive equity options trading
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09:07 EDTAMZNAmazon announces content licensing agreement with Starz Digital Media
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07:23 EDTINTCIntel pullback yesterday a buying opportunity, says Jefferies
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06:30 EDTCCiti unit reaches agreement with NY AG on ChexSystems data, WSJ reports
Citigroup's Citibank unit is expected to announce today that it has reached an agreement with New York Attorney General Eric Schneiderman to change its screening processes for checking and savings accounts to be more forgiving of customers' histories, The Wall Street Journal reports. The new rules, which will begin on March 15, will change how the bank uses information from consumer-reporting agency ChexSystems. Reference Link
05:58 EDTINTCIntel cooperates with Spreadtrum, Rockchip to enter China market, DigiTimes says
Intel (INTC) has cooperated with and Rockchip Electronics to rpomote its platforms in the China market, reports DigiTimes. According to Taiwan-based supply chain makers, the move is to compete with Qualcomm (QCOM) and Mediatek for smartphone and tablet use chip solutions. Intel is set to ship 44M tablet processors in 2015. Reference Link
05:48 EDTINTCStocks with implied volatility movement; INTC QQQ
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January 27, 2015
16:00 EDTAMZN, COptions Update; January 27, 2015
iPath S&P 500 VIX Short-Term Futures up 1.40 to 32.01. Option volume leaders: AAPL TSLA TWTR AMZN FB MSFT X RIG YHOO C GILD according to Track Data.
14:34 EDTAMZNNetflix, Amazon saw increase of 15%-20% in streams during blizzard, CNBC says
Netflix (NFLX) saw an increase of 15% in streaming video, and Amazon (AMZN) saw a rise of 20% in Amazon Prime video in some New England markets during winter storm Juno, CNBC reports, citing Procera Networks. Numbers do not include mobile streaming or New York City market.
13:43 EDTINTCIntel would not let AMD x86 license 'fall into hands' of China, Hesseldahl says
Following a Chinese language report claiming that Chinese company BLX IC Design could be interested in buying AMD (AMD), Re/code's Arik Hesseldahl said on Twitter that he believes there is "no way" Intel (INTC) would allow AMD's x86 license to fall into the hands of a China-based owner. AMD shares, which rose significantly yesterday, are up another 5.2% today in afternoon trading. Reference Link
13:16 EDTINTCAMD continues advance following Chinese report of takeover interest
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13:14 EDTCLFCliffs Natural seeks CCAA protection for Bloom Lake mine
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13:12 EDTCLFCliffs Natural seeks CCAA protection for Bloom Lake mine
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12:55 EDTCLFCliffs Natural trading halted, pending news
12:21 EDTAMZNAmazon.com volatility elevated into Q4 and outlook
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11:14 EDTINTCMicrosoft sinks after outlook brings multiple downgrades
Shares of Microsoft (MSFT) are falling after the company last night issued guidance for its quarter ending in March that came in significantly below analysts' expectations. JPMorgan, Citigroup, MKM Partners and Nomura responded to the company's results by downgrading the stock. BACKGROUND: Microsoft's revenue guidance for its March quarter missed expectations, driven by U.S. dollar strength, and continued weakness in China, Russia and Japan, according to JPMorgan analyst Mark Murphy. The company's second quarter results were roughly in-line with expectations, but its software sales came in below the consensus outlook, as customers shifted to cheaper Web-based products. ANALYST REACTION: In a note to investors, JPMorgan's Murphy downgraded the stock to Neutral for Overweight. Microsoft plans to spend more money than anticipated going forward, according to the analyst, who consequently cut his fiscal 2015 earnings per share forecast for the company by 8%. The reduced profit outlook could delay the stock's move above $50, warned Murphy, who reduced his price target on the name to $47 from $53. But the analyst did note that the tech giantís commercial cloud revenue growth jumped 114% year-over-year last quarter, a higher growth rate than during the same period a year earlier. Citigroup cut its rating on Microsoft to Sell from Neutral, saying that the company's earnings headwinds are becoming clearer. The firm set a $38 price target on the stock. Both Nomura and MKM Partners cut its ratings on the name to Neutral from Buy. PRICE ACTION: In late morning trading, Microsoft fell 9.55 to $42.50. Other companies
11:07 EDTAMZNAmazon.com shares pricing in soft margin outlook, says Piper Jaffray
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10:18 EDTHPQHP falls as Microsoft results hit PC-related stocks, levels to watch
The stock is down over 4.4% to $37.13 at time of writing. The move has triggered a bearish head and shoulders pattern on the daily chart, which has its neckline at $37.50. Downside potential for the pattern is to the $33 area. Next support is at $36.22. Resistance is at $37.46, the opening price of the day.
10:14 EDTINTCIntel drops after Microsoft results, levels to watch
Shares are down 4.6% to $34.15 at time of writing as Microsoft's (MSFT) results weigh on PC-related shares. At current price, next support is at $33, a recent pivot low. Resistance is at $34.79.
09:36 EDTHPQ, CActive equity options trading
Active equity options trading according to Track Data: AAPL MSFT TWTR TSLA GILD NFLX C AA HPQ X
08:59 EDTAMZNJPMorgan 'warming up' to shares of Amazon.com
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07:46 EDTAMZNStifel to hold a conference
2015 Senior Housing and Healthcare Real Estate Conference is being held in Dana Point, California on January 27.
07:29 EDTAMZNPepsi launches naturally-sweetened Pepsi True in three states, WSJ says
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07:03 EDTCCiti Foundation CEO Pam Flaherty to retire, WSJ says
Pam Flaherty, Citigroup veteran since 1968 and current head of Citi's charitable foundation, will retire Friday, the Wall Street Journal reports. Citi Foundation COO Brandee McHale is expected to succeed Flaherty. Reference Link
06:01 EDTCLFCliffs Natural implied volatility of 109 at upper end of index mean range
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05:53 EDTHPQStocks with implied volatility movement; HP VALE
Stocks with implied volatility movement; HP (HPQ) 28, Vale (VALE) 57 according to iVolatility.
January 26, 2015
16:01 EDTAMZNOptions Update; January 26, 2015
iPath S&P 500 VIX Short-Term Futures down 1.47 to 30.63. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX X MSFT BP GILD according to Track Data.
15:03 EDTHPQHP announces management teams for both companies
HP said it has been "working diligently to ensure that both HP Inc. and Hewlett-Packard Enterprise are set up for success." It added, "We are excited about the progress weíve made and today weíre happy to share the first level of leadership for both companies. As we continue through this transition year, we will operate as HP and are focused on minimizing disruption to customers, partners and employees." Hewlett-Packard Enterprise will be lead by Meg Whitman as President and CEO, Cathie Lesjak as Chief Financial Officer, Henry Gomez as Chief Marketing and Communications Officer, John Hinshaw as Chief Customer Officer and lead Technology & Operations and Martin Fink as Chief Technology Officer. HP Inc. will be led by Dion Weisler as President and CEO, Jon Flaxman as Chief Operating Officer and Shane Wall as Chief Technology Officer.
12:49 EDTC, BACFederal Reserve discloses plan to improve U.S. payment system, WSJ reports
The Federal Reserve released a plan that would improve the U.S. payment system, saying the current outlook, which covers banking, checking, credit cards and online transactions is fragmented and outdated with respect to new technologies that may harm consumers, the Wall Street Journal reports. The Federal Reserve invited banks, credit card companies and payment processors to coordinate efforts. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
10:28 EDTINTCIntel trades down, testing lows of the recent range
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09:49 EDTAMZNActive equity options trading
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09:15 EDTAMZNAmazon.com volatility elevated into Q4 and outlook
Amazon.com January weekly call option implied volatility is at 90, February is at 44, March is at 35; compared to its 26-week average of 34 according to Track Data, suggesting larger near term price movement in the expected release of Q4 results on January 29.
08:54 EDTINTCIntel management to meet with Deutsche Bank
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07:58 EDTAMZNAmazon unit being probed in Japan on child porn allegations, Bloomberg says
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07:06 EDTCLFCliffs Natural announces debt reduction and elimination of quarterly dividend
Cliffs Natural Resources announced that during the Q4 of FY14 and the beginning of January 2015, the Company reduced its net debt balance by more than $400M. This accelerated debt reduction was achieved through the repayment of short-term debt as well as the repurchase of more than $200M aggregate principal amount of senior notes in the open market at an average discount of 34% to par, capturing a total discount of approximately $70M. The sources of funds to execute the accelerated debt reduction program were cash from operations generated during the Q4 of 2014 and net proceeds from the sale of Cliffs Logan County Coal. In addition, the Cliffs' Board of Directors has decided to eliminate the quarterly dividend of 15c per share on Cliffs' common shares. The decision is applicable to the Q1 and all subsequent quarters.
06:27 EDTHPQHP CEO names Henry Xiang-Ying Cao as CEO of H3C, WSJ reports
Meg Whitman, the CEO of Hewlett-Packard, has named former H3C Technologies COO Henry Xiang-Ying Cao as CEO of HP's China-based subsidiary, replacing Jessie Jing-Chuan Wu, who will become vice chairman, The Wall Street Journal reports, citing an internal email. Workers at the unit recently petitioned against HP's new China chairman, Mao Yu'nan, and also pushed for financial incentives, which Whitman has reportedly recently offered. Reference Link
January 23, 2015
16:01 EDTAMZNOptions Update; January 23, 2015
iPath S&P 500 VIX Short-Term Futures up 80c to 32.10. Option volume leaders: AAPL TSLA TWTR AMZN FB FXCM X GDP PBR according to Track Data.
14:33 EDTCCiti CEO Corbat denies rumors of selling subsidiary Banamex, Forbes reports
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09:36 EDTAMZNActive equity options trading
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08:07 EDTAMZNU.S. tech giants nervous about backlash in Europe, WSJ says
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07:23 EDTC, BACBass does not expect large U.S. banks to break up
Publicly traded companies in the space include Bank of America (BAC), Citi (C), JPMorgan (JPM), and Wells Fargo (WFC). Kyle Bass of Hayman Capital continues speaking on CNBC.
07:08 EDTCNorwegian Statoil seeks to cut costs as oil prices drop, WSJ says
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06:42 EDTBAC, CU.S. banks preparing for prolonged low bond yields, Reuters says
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06:04 EDTINTCIntel may look to form stylus alliance, DigiTimes reports
Intel has recently invited several touch sensor IC designers to form an alliance in order to establish a specification standard for stylus, reports DigiTimes. According to sources from IC designers, the alliance's first product is expected to launch in Q3 and will be to make the input device usable across different mobile devices. Reference Link
January 22, 2015
16:30 EDTAMZNAmazon acquires Annapurna Labs, Re/code says
Amazon confirmed that it has acquired Annapurna Labs, an Israeli startup that designs networking chips for data centers, reports Re/code, citing a spokeswoman for Amazonís AWS unit. Amazon declined to comment on the price of the transaction; however reports have the price at about $350M, Re/code adds. Reference Link
16:00 EDTBAC, AMZNOptions Update; January 22, 2015
iPath S&P 500 VIX Short-Term Futures down 2.13 to 31.32 Option volume leaders: AAPL TSLA TWTR AMZN FB FXCM AVP BAC according to Track Data.
15:26 EDTCCiti to hold a conference call
4Q14 Fixed Income Investor Review conference call to be held on January 23 at 11 am. Webcast Link
11:37 EDTAMZNStocks with call strike movement; SNDK AMZN
SanDisk (SNDK) March 85 call option implied volatility decreased 13% to 31, Amazon.com (AMZN) April 340 call option implied volatility decreased 3% to 32 according to IVolatility.
09:43 EDTAMZNActive equity options trading
Active equity options trading according to Track Data: AAPL DG ABX AMZN FXCM LVS FFIV INFI SD
09:02 EDTAMZNAmazon.com launches Kindle Textbook Creator
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07:11 EDTAMZNAmazon.com Web Services unit worth around $32B, says Piper Jaffray
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06:52 EDTAMZNAmazon.com in advanced talks to buy Israeli chipmaker, Calcalist says
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January 21, 2015
16:00 EDTAMZN, COptions Update; January 21, 2015
iPath S&P 500 VIX Short-Term Futures down 1.63 to 33.49. Option volume leaders: AAPL TSLA TWTR AMZN FB RIG C ABX SIRI NFLX according to Track Data.
15:51 EDTAMZNAmazon.com upgraded to Buy ahead of earnings at BGC Financial
As previously reported, BGC Financial analyst Colin Gillis upgraded Amazon.com to Buy from Hold ahead of the company's upcoming earnings report, citing expectations for the end of its Hachette dispute to improve North American media sales and profitability in the near-term and for the company's ecosystem building and advertising business to benefit it over the long-term. Gillis, who expects Amazon to turn profits in its December and March quarters, maintains a $340 price target on the stock.
15:45 EDTAMZNAmazon.com upgraded to Buy from Hold at BGC Financial
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11:34 EDTAMZNAmazon pulling plug on Amazon Wallet app beta, CNet reports
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11:28 EDTAMZNAmazon.com spikes higher on heavy volume, retraces, levels to watch
The stock has been on a wild set of turns in price in the last 20 minutes, trading as high as $306 for the day, but last at $296.51. Volume is heavy. There was a rumor circulating that Carl Icahn was taking a position in the company with some plan to spin off its web services. CNBC's David Faber and Scott Wapner have said sources indicate Icahn has no position in the stock at all. At last price resistance is at the $300 area, support is at $294.12.
11:19 EDTAMZNCarl Icahn owns no Amazon.com, CNBC's Faber reports
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11:18 EDTAMZNIcahn has no stake in Amazon.com, CNBC's Wapner says
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11:17 EDTAMZNAmazon.com spikes 6% to $305.93 amid social media chatter
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11:06 EDTAMZNAmazon.com volatility increases as shares rally
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09:10 EDTAMZNSenate Commerce, Science & Transportation Committee holds a hearing
The Committee holds a hearing entitled, "Protecting the Internet and Consumers through Congressional Action" featuring non-government expert witnesses testifying about current authorities of the FCC and Congressí options to update outdated laws for the Internet Age with Vice President of Amazon.com, Paul Misener on January 21 at 2:30 pm.Webcast Link
08:43 EDTAMZNAmazon discontinues Amazon Elements line of diapers, Re/code reports
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08:03 EDTHPQHP PC market share, sales seem to have risen, says Argus
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08:00 EDTAMZNHouse Energy & Commerce Committee to hold a hearing
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07:15 EDTINTCAny Intel server weakness likely a hiccup, says RBC Capital
After JMP Securities yesterday downgraded Intel (INTC) based partly on information from a source who said that server component sales have been weak in 2015, RBC Capital says any weakness is probably due to a three month delay caused by a technical problem and is not demand driven. RBC Capital expects the technical problem to be resolved within three months but keeps a $40 price target and Sector Perform rating on Intel.
06:17 EDTAMZNOverstock to introduce streaming-video service later this year, WSJ reports
Overstock.com (OSTK) is planning to launch a streaming-video service later this year, CEO Patrick Byrne announced at the National Association of Television Program Executives conference, The Wall Street Journal reports. Overstock would compete in the space with Amazon (AMZN), Hulu (DIS, CMCSA, CMCSK, FOXA), Netflix (NFLX), and Time Warner's (TWX) HBO is also planning a standalone online streaming service that will launch this year. The new Overstock service would be tied to the company's $20-per-year Club O membership program and will launch with about 30,000 titles. Reference Link
January 20, 2015
16:00 EDTCOptions Update; January 20, 2015
iPath S&P 500 VIX Short-Term Futures down 36c to 35.12 Option volume leaders: AAPL TSLA TWTR GILD NFLX MGM ABX AMAT JNJ C according to Track Data.
14:06 EDTCLFCitizens, Keysight identified as long positions by Einhorn
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13:24 EDTCLFGreenlight has new long positions in Citizens, Time Warner, Bloomberg says
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12:55 EDTHPQThousands of HP employees protest new China head, China Daily says
About 2,500 employees of HP's (HPQ) China based subsidiary, H3C Technologies, have signed a petition against HP's new China chairman, Mao Yu'nan, according to China Daily. The employees fear that Mao will endanger H#C's autonomy and torpedo an employee stock option plan that has been in the works for some time, the newspaper stated. Reference Link
11:15 EDTINTCIntel slips after JMP cuts to sell, Canaccord says upgrade not yet warranted
Following Intel's (INTC) fourth quarter results last week, two research firms issued cautious notes on the stock today. JMP Securities downgraded the stock to Underperform, which is the firm's "Sell" equivalent rating, while Canaccord kept a Hold rating on the shares, though the latter firm said its outlook on the company's fundamentals is continuing to become more positive and raised its price target on the name. WHAT'S NEW: Intel's Q4 results were "mixed," but the company's fundamentals appear to have improved, Canaccord analyst Matt Ramsay wrote in a note to investors today. The company's data center group and Internet of Things group should generate sustained 15%+ and 20%+ growth, respectively, over the next several years, the analyst stated. Meanwhile, Intel's PC client group should be able to cut costs further, Ramsay believes. The analyst said he had "intended to upgrade the stock" after the results, given his long-term upbeat view of the company, but was unable to do so. Ramsay explained that he changed his mind because he does not think the company's profits will increase at all this year, while the stock largely already reflects his expectations for solid profit growth in 2016. The analyst increased his price target on the shares to $40 from $36 but kept a Hold rating on the stock. More bearish was JMP Securities analyst Alex Gauna. Gauna downgraded the stock to Underperform from Market Perform and set a $30 price target on Intel. After speaking with a source who sells server components, the analyst reported that the source's business has been weak this month. Weak server component sales are likely to pull down Intel's stock, given its relatively high valuation, the analyst stated. Meanwhile, Intel's gross margins have probably peaked, Gauna believes. PRICE ACTION: In morning trading, Intel fell 1.7% to $35.82.
11:13 EDTHPQHP looks to boost sales with specific tablets for professionals, Bloomberg says
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09:52 EDTAMZNAmazon.com's Q4 revenue trending to $29.5B vs. consnesus of $29.7B at ITG
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09:38 EDTAMZN, C, BACActive equity options trading
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08:54 EDTBACBank of America upgraded to Conviction Buy from Buy at Goldman
Goldman added Bank of America to the Conviction Buy List with an $18 price target following recent underperformance. The firm continues to believe shares to will be driven by better than expected top-line growth, accelerated capital returns, and a business shift towards less capital intensive earnings streams.
08:17 EDTAMZNPattern Energy to supply power to Amazon Web Services
Pattern Energy Group (PEGI) announced it has entered into a 13-year power purchase agreement, or PPA, to supply power to Amazon Web Services, or AWS, an Amazon.com (AMZN) company. AWS will acquire the production from the 150 megawatt Fowler Ridge IV Wind project, to be renamed Amazon Web Services Wind Farm.
08:07 EDTINTCIntel downgraded at JMP Securities
As noted earlier, JMP Securities downgraded Intel to Underperform from Market Perform. The firm reports that industry sources said there has been a sharp downturn in server activity going into 2015.
08:01 EDTAMZNAmazon Web Services to use wind farm power to supply datacenters with power
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07:59 EDTINTCIntel upgrade not warranted due to lack of EPS growth, says Canaccord
Canaccord said it intended to upgrade Intel following its mixed Q4 results, but with estimates for essentially no earnings growth in 2015, the firm could not justify it. As a result, Canaccord raised its price target to $40 from $35 on Intel shares and maintained its Hold rating, but noted it stands ready to upgrade the stock on a pullback.
07:28 EDTBACTreasury Institute for Higher Education to hold a symposium
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06:12 EDTINTCIntel downgraded to Underperform from Market Perform at JMP Securities
January 19, 2015
12:56 EDTHPQHP-Autonomy investigation closed by U.K.'s Serious Fraud Office
The Director of the Serious Fraud Office has closed the SFO's investigation into the sale of Autonomy to the Hewlett-Packard company in 2011. This investigation was commenced in early 2013, following a referral from HP.In respect of some aspects of the allegations, the SFO has concluded that, on the information available to it, there is insufficient evidence for a realistic prospect of conviction.In respect of other aspects and on the application of well-established principles, jurisdiction over the investigation has been ceded to the US authorities whose investigation is ongoing. Reference Link
11:14 EDTAMZNAmazon to produce original movies for theaters, Prime Instant Video
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January 18, 2015
16:57 EDTCCiti may have lost more than $150M on Swiss franc volatility, Bloomberg says
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15:14 EDTCMashreqbank interested in Citigroupís Egyptian consumer unit, Bloomberg says
Dubai-based bank, Mashreqbank PSC confirmed it is interested in acquiring Citigroupís Egyptian consumer banking unit, says Bloomberg citing comments from Mashreqbank PSC CEO Abdul Aziz Al Ghurair. Reference Link
January 16, 2015
16:36 EDTBACMarket finishes week lower on continued oil, global growth worries
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16:00 EDTAMZN, BACOptions Update; January 16, 2015
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13:01 EDTCCitigroup losses on currency top $150M, Bloomberg reports
Citigroup's (C) losses after the Swiss central bank abandoned the cap on the franc's value against the euro totaled more than $150M, a source tells Bloomberg. The losses occurred on the bank's trading desks and aren't related to its relationships with FXCM (FXCM) and other platforms, the source adds. Reference Link
12:43 EDTCCiti losses on currency top $150M, Bloomberg reports
11:36 EDTCLFCliffs Natural volatility elevated on wide price movement
Cliffs Natural January weekly call option implied volatility is at 96. January is at 98, March is at 88, compared to its 26-week average of 79 according to Track Data, suggesting large price movement.
09:37 EDTAMZN, BAC, CActive equity options trading
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08:49 EDTINTCIntel CEO says has made 'incremental improvement' on diversity
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08:47 EDTINTCIntel CEO says relationship with Apple 'strong'
Krzanich says he's heard the "rumors" of Apple (AAPL) looking at other types of chips for some of its products. Apple will always choose innovation and Intel's (INTC) job is to offer them the most competitive products, Krzanich said. Intel's CEO says many customers want to have a single supply source, which is a reason Intel needs to be in a broad array of businesses including mobile, PCs and servers. Krzanich says "very comfortable" with inventory levels and that Q4 played out the way the company expected. Intel CEO Brian Krzanich is speaking on CNBC.
08:32 EDTINTCIntel results, 2015 plans 'very impressive,' says Wells Fargo
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08:25 EDTBACMorgan Stanley says to buy the dip in Bank of America
Morgan Stanley said investors are missing the fact that Bank of America's the $578M FAS91 charge is non-cash and temporary and can reverse with higher rates. The analyst said Bank of America's expense decline is ahead of expectations and expects increased capital returns. Morgan Stanley recommends buying Bank of America on the dip and reiterates its Overweight rating and $21 price target.
08:24 EDTCCiti catalysts can still drive multiple expansion, says Wells Fargo
After Citi reported slightly lower than expected Q4 results, Wells Fargo thinks the company still has several positive upcoming catalysts that could cause its multiple to rise. The firm cut its price target on the name to $57-$60 from $60-$63 but keeps an Outperform rating on the shares.
07:35 EDTINTCChanos says short Intel for around six months
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07:30 EDTINTCIntel post-earnings pullback a buying opportunity, says Jefferies
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07:26 EDTINTCIntel margins to rise through 2015, says Deutsche Bank
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07:02 EDTBACWet Seal files for Chapter 11 bankruptcy protection
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06:11 EDTAMZNEU says Amazon's tax deal with Luxembourg may violate laws, WSJ reports
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06:10 EDTHPQGlobal notebook shipments to reach 46M units in Q4, DigiTimes Research says
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05:59 EDTINTCIntel aims to ship 44M tablet APs in 2015, DigiTimes reports
Intel (INTC) targets shipping 44M tablet APs in 2015 to acount for one third of the non-Apple (AAPL) tablet shipments in 2015, reports DigiTimes. According to sources from tablet players, Intel expects losses from its tablet segment to narrow significant in 2016 as it acquires a leading position in the non-Apple tablet sector. Reference Link
January 15, 2015
18:28 EDTINTCOn The Fly: After Hours Movers
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18:16 EDTBACE2open seeks sale, Wall Street Journal reports
E2open (EOPN) is looking to sell after its stock plummeted and the company is working with Bank of America (BAC) on the sale process, reports the Wall Street Journal, citing people familiar with the matter. Reference Link
18:02 EDTINTCIntel says shipped chips into 46M tablets in 2014
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16:42 EDTINTCIntel CFO says corporate PC demand growth likely to slow, consumer to improve
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16:20 EDTC, BAC, CLFOn The Fly: Closing Wrap
Stocks on Wall Street had a see-saw trading day, with every attempt at getting the averages into positive territory being met with more selling. The market spent most of the day in negative territory, however, as the latest bank earnings reports failed to impress investors, the price of oil renewed its downtrend, and the Swiss National bank withdrew its floor support on the Swiss franc. ECONOMIC EVENTS: Internationally, Switzerland's central bank unexpectedly gave up its minimum exchange rate, sending the Swiss franc soaring against the dollar and euro and triggering wild swings in its equity markets. In the U.S., initial jobless claims rose 19K to 316K in the week ended January 10, versus expectations for 298K first-time claims. The producer price index fell 0.3% in December, versus expectations for a decrease of 0.4%. The core PPI rate rose 0.3% in the month, versus expectations for it to be up 0.1%. The Empire State index rebounded to 9.95 in January, beating expectations for a 5.0 reading for the measure of manufacturing activity in the New York area. The Philly Fed index fell 18.0 points to 6.3 in January, which was worse than the projected pullback to a reading of 18.7. WTI crude oil, the U.S. benchmark, reversed its early gains to end the trading session down 4.6% at $46.25 per barrel. COMPANY NEWS: Shares of Target (TGT) advanced $1.34, or 1.8%, to $75.67 after the retailer announced plans to stop operating stores in Canada. Target expects this decision will increase its earnings in fiscal 2015 and beyond, and increase its cash flow in fiscal 2016 and beyond. The company also raised its forecasts for Q4 U.S. comparable sales growth and adjusted earnings per share, mostly due to increased traffic and stronger-than-expected digital sales... Bank of America (BAC) slid 84c, or 5.24%, to $15.20 after reporting its fourth quarter results, while Citigroup (C), which also issued its Q4 report, dropped $1.82, or 3.71%, to $47.23. MAJOR MOVERS: Among the notable gainers was Cliffs Natural Resources (CLF), which rose 93c, or 11.94%, to $8.72 amid strength in the basic materials sector. Also benefitting the stock may have been a Bloomberg report that said an adviser to Quebec's investment arm stated that Cliffs' closed down Bloom Lake mine has attracted interest from several potential buyers. Also higher were shares of Kraft Foods (KRFT), which climbed $2.92, or 4.66%, to $65.68 after Goldman Sachs upgraded the stock to Buy and placed the shares on its Conviction List. Also of note, the Consumer Analyst Group of New York confirmed to Bloomberg that the food and beverage manufacturer canceled its upcoming conference appearance. Among the noteworthy losers was Best Buy (BBY), which dropped $5.61, or 14.06%, to $34.30 after reporting holiday growth that was lower than previous quarters, citing factors including weakness in tablets, and guiding toward comparable sales in the first half of FY16, excluding certain items, to be flat to down by a low-single digit percentage. Also lower were shares of BlackBerry (BBRY), which declined $2.49, or 19.77%, to $10.10 after the company said last night that it is not in talks with Samsung (SSNLF) about a potential merger, rebutting a Reuters report. INDEXES: The Dow fell 106.38, or 0.61%, to 17,320.71, the Nasdaq dropped 68.50, or 1.48%, to 4,570.82, and the S&P 500 declined 18.60, or 0.92%, to 1,992.67.
16:08 EDTINTCIntel down 2% following Q4 results, guidance
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16:08 EDTINTCIntel sees FY15 revenue growth in mid-single digits, consensus $59.19B
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16:06 EDTINTCIntel CEO says Q4 a 'strong finish to a record year'
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16:05 EDTINTCIntel reports Q4 gross margin 65.4%
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16:04 EDTINTCIntel reports Q4 PC Client Group revenue $8.9B, down 3% sequentially, up 3% YoY
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16:02 EDTINTCIntel sees Q1 revenue $13.7B, plus or minus $500M, consensus $13.77B
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16:01 EDTINTCIntel reports Q4 EPS 74c, consensus 66c
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16:01 EDTC, AMZN, CLFOptions Update; January 15, 2015
iPath S&P 500 VIX Short-Term Futures up 1.01 to 36.13. Option volume leaders: AAPL TSLA TWTR AMZN FB C CLF ABX SUNE according to Track Data.
15:57 EDTCLFCliffs Natural said to have multiple suitors for mine, Bloomberg reports
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15:32 EDTCLFCliffs Natural said to have multiple suitors for Bloom Lake, Bloomberg reports
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15:14 EDTINTCNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Intel (INTC), consensus 66c; Schlumberger (SLB), consensus $1.46; Bank of the Ozarks (OZRK), consensus 41c; People's United (PBCT), consensus 21c; Wintrust Financial (WTFC), consensus 77c.
15:02 EDTINTCEarnings Preview: Jefferies refutes bear case on Intel
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14:14 EDTINTCIntel technical notes ahead of earnings
The shares have been in a sideways consolidation pattern for the past two months which could become an active, in this case bullish, symmetrical triangle pattern. That pattern would be confirmed and active at or above $37.75. Upside potential for the pattern at a minimum would be to the $40 area. On good news and strong guidance, that pattern could trigger. If the news disappoints, that potential pattern could become void. A move below $36 would destroy the pattern's potential. Next downside levels based on support could be at $35.26, $34.23, and $32.54.
14:07 EDTBACBank of America says 800,000 customers enrolled in Apple Pay
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14:05 EDTCCiti reports December credit loss 2.79% vs. 2.37% last month
Reports December delinquencies 1.56% vs. 1.52% last month.
13:29 EDTINTCIntel January 36.5 straddle priced for 3.8% movement into Q4
12:26 EDTBAC, COn The Fly: Midday Wrap
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12:22 EDTCCiti sees FY15 trading revenue performing in-line with the market
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12:14 EDTCCiti CFO says committed to equities business, performance ex-AMEA good
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12:13 EDTAMZNAmazon's Twitch unit to allow users to stream music
In a blog post Amazon.com's Twitch unit said it will allow users to stream music on its online gaming platform. The company said: "Today weíre announcing two important music initiatives: the Twitch Music Library and the beta Music category.The Twitch Music Library, is a library of songs pre-cleared for Twitch broadcasters to use live and with VODs. As you may recall, we implemented an audio recognition system last year out of respect for copyright holders and to protect both our broadcasters and our brand. We knew it was equally important to ensure broadcasters had music options. Thus, the Twitch Music Library was born to offer safe passage through the less-than-clear legal landscape when it comes to audio rights. The Twitch Music Library features more than 500 songs provided by established and burgeoning labels, including Mad Decent, Dim Mak, Spinniní Records, OWSLA, Monstercat, Foolís Gold, and many more. We are also announcing an experiment with music content creators: our beta Music category. The Music categoryólisted among the game titles you can designate for a broadcastóis for musicians to use for creating, performing, and presenting original music." Reference Link
11:39 EDTCCiti says 2015 repositioning costs 'shouldn't be like' 2014
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11:34 EDTCCiti sees Citi Holdings staying 'at or above' breakeven in FY15
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11:32 EDTCCiti sees FY15 revenue growth for Citicorp in low to mid single digit percentage
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11:30 EDTCCiti sees 1H15 NIM to be 'more or less flat' to FY14 levels
Comment from Q4 earnings conference call.
10:19 EDTCCiti says committed to 2015 targets, returning capital to shareholders
Citi says active sales processes ongoing for consumer operations marked for exit. Will continue to serve institutional clients in these countries, but operations will be reported as part of Citi Holdings as of 1Q15. Citi says active processes underway to exit certain non-core institutional businesses in a "timely and economically rational manner." Says roughly half of those non-core institutional businesses operationsí pre-tax loss in 2014 was directly related to repositioning and other actions associated with the exits. Citi is targeting a 2015 consumer banking efficiency ratio of 49%-52%, compared to a ratio of 56% in 2014 and a pro forma 2014 ratio of 55%. Citi is targeting a 2015 institutional clients group efficiency ratio of 43%-57%, compared to a ratio of 59% in 2014 and a pro forma 2014 ratio of 58%. Citigroup reports a Q4 net interest margin of 2.92%, up from 2.91% in Q3 and from 2.88% in 4Q13. Citi sees positioning for increased return of capital over time in 2015. Comments from slides for Q4 earnings conference call.
10:13 EDTBACBank of America reports December default rate 3.13% vs. 3.08% last month
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09:36 EDTAMZN, C, BACActive equity options trading
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09:31 EDTBACBank of America upgraded to Sector Perform from Underperform at Portales
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09:21 EDTBACBank of America says funded exposure to oil/gas about $23B at end year
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09:15 EDTBAC, COn The Fly: Pre-market Movers
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09:10 EDTBACBofA CFO says Q4 noninterest expense lowest since Merrill Lynch merger
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09:05 EDTBACBank of America sees pick-up in mortgage production in Q1 from re-fi
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09:02 EDTAMZNAmazon says first pilot season of 2015 available on Instant Video
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08:30 EDTAMZNEU to publish details of Amazon's tax deal with Luxembourg, Reuters reports
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08:08 EDTCCiti reports Q4 net interest margin 2.92%
08:07 EDTCCitigroup reports Citi Holdings assets down 16% to $98B
Citigroup reports Q4 Citi Holdings revenues of $1.3B, which included CVA/DVA of negative $5M, compared to $1M in the prior year period. Excluding CVA/DVA, Citi Holdings revenues increased slightly from the prior year period driven by higher gains on asset sales and lower cost of funds. As of the end of the quarter, Citi Holdings assets were $98B, 16% below the prior year period, and represented approximately 5% of total Citigroup assets. Citi Holdings allowance for credit losses was $4.5B at the end of Q4, or 6.20% of loans, compared to $6.5B, or 6.98% of loans, in the prior year period. 90+ days delinquent consumer loans in Citi Holdings decreased 28% to $2.0B, or 2.88% of loans.
08:05 EDTCCiti CEO says overall 2014 results fell short of expectations
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08:03 EDTCCiti reports Q4 net credit losses down 12% from prior year to $2.2B
Citi reports Q4 legal and related expenses and repositioning charges totaled $3.5B in the current quarter, compared to $1.0B in the prior year period. Citigroupís cost of credit in Q4 was $2.0B, a decrease of 3% from the prior year period, primarily reflecting a $299M improvement in net credit losses, partially offset by a lower net release of loan loss reserves. Reports Q4 loan loss reserve release of $441M. Reports Q4 provision for benefits and claims $206M. Citigroupís book value per share was $66.16 and its tangible book value per share was $56.83, each as of quarter end, representing 1% and 3% increases, respectively, versus the prior year period. At quarter end, Citigroupís Basel III Common Equity Tier 1 Capital ratio was 10.5%, up from 10.1% in the prior year period. Citigroupís estimated Basel III Supplementary Leverage ratio for the fourth quarter 2014 was 6.0%, up from 5.4% in the prior year period.
08:00 EDTCCiti reports Q4 EPS 6c, consensus 11c
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07:32 EDTBACBank of America down 2.2% after Q4 revenue miss
07:30 EDTBACBank of America reports Q4 FTE headcount down 2.5% from Q3
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07:14 EDTBACBank of America CEO says bank enters 2015 'in good shape'
"In 2014, we continued to invest in our businesses while reducing expenses and resolving our most significant litigation matters. Last quarter, consumer deposits and loan originations were solid; wealth management client balances grew to $2.5 trillion; we increased lending to middle-market and large companies; and we retained a leadership position in investment banking. There's more work and tremendous opportunity ahead as we improve on the platform we've built to serve our customers and clients, and we enter 2015 in good shape to manage both the opportunities and the challenges the markets and economy will offer," said CEO Brian Moynihan.
07:09 EDTBACBank of America reports book value per share $21.32 at Dec. 31, 2014
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07:07 EDTBACBank of America reports Q4 charge-offs $0.9B
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07:04 EDTBACBank of America reports Q4 results include 7c per share charges
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07:02 EDTBACBank of America reports Q4 EPS ex-charges 32c, consensus 32c
Reports Q4 revenue ex DVA/FVA $19.58B, consensus $20.94B.
06:55 EDTHPQHP removed from short-term buy list at Deutsche Bank
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06:27 EDTINTCIntel to partner with more IT players for Internet of Things, DigiTimes reports
Intel (INTC) is preparing to team up with more IT firms such as AT&T (T), Verizon (VZ), Cisco (CSCO), SAP (SAP), and Microsoft (MSFT) in order to expand the Internet of Things industry in 2015, reports DigiTimes. According to sources from the upstream supply chain, Intel has been playing an active role in helping Taiwan build its smart city infrastructure and has also cooperated with Chunghwa Telecom to develop the IoT and cloud computing applications. Reference Link
06:25 EDTCJPMorgan, Citi fire or suspend Forex employees after Justice Dept probe, WSJ say
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January 14, 2015
16:00 EDTAMZNOptions Update; January 14, 2015
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15:46 EDTCCiti technical comments before results
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15:27 EDTC, BACNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Citigroup (C), consensus 11c; Bank of America (BAC), consensus 32c; Charles Schwab (SCHW), consensus 24c; Fastenal (FAST), consensus 39c.
15:08 EDTCEarnings Preview: Citi sees being 'marginally profitable' after legal issues
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15:07 EDTBACBank of America technical comments ahead of earnings
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15:00 EDTBACBank of America January 16 straddle priced for 3.3% movement into Q4
14:59 EDTCCiti January 48.5 straddle priced for 3.3% movement into Q4
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13:25 EDTBACEarnings Preview: Bank of America to report after mixed competitors' results
Bank of America (BAC), one of the largest banks in the U.S., is expected to report fourth quarter earnings before the open on Thursday, January 15, with a conference call scheduled for 8:30 am ET. EXPECTATIONS: Analysts are looking for earnings per share of 32c on revenue of $20.94B. The consensus range is 30c-39c for EPS on revenue of $20.39B-$21.48B, according to First Call. LAST QUARTER: Bank of America reported stronger than expected third quarter results, as it said its customer and client activity was "solid." Its net chargeoffs declined across most major portfolios versus the same period a year earlier, and its tangible book value increased 4% over the same period in 2013 to $14.13 per share. COMPETITORS' RESULTS: Wells Fargo (WFC) reported in-line fourth quarter profit and slightly higher than expected fourth quarter revenue. The bank said that its credit quality continued to improve last quarter. The bank's commercial and consumer loans, as well as its deposits also increased, it stated. However, its home lending originations fell to $44B from $48B in Q3. Also, JPMorgan (JPM) reported weaker than expected results, and noted that legal expenses lowered its EPS by 26c. Notably the results for JPMorgan's Corporate and Investment Bank sank significantly last quarter, compared with the previous quarter. The unit's net revenue fell to $7.4B from $9.1B, while its net income dropped to $972M from $1.7B. STREET RESEARCH: Large banks were hurt by trading volatility last quarter, research firm MKM Partners wrote last month. "Trading and investment banking are key quarterly swing factors" for Bank of America, the firm stated. MKM cut its Q4 EPS estimate for the bank by 9% to 32c. On the other hand, Barron's on December 27 named Bank of America as one of its ten favorite stocks for 2015. The bank had to absorb "massive legal charges" last year, but these charges should quickly decline in 2015, the magazine forecast. Bank of America trades at 12 times the consensus 2015 EPS estimate of $1.48, and its EPS is expected to reach about $2 by 2017, Barron's stated. Additionally, the bank will benefit if interest rates rise, Barron's believes. PRICE ACTION: Bank of America's stock has fallen 7% over the last month, and 5% over the last year.
12:49 EDTBAC, COn The Fly: Midday Wrap
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12:43 EDTAMZNAmazon.com falls, levels to watch
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11:23 EDTINTCIntel lower after report says Apple may displace chips in Macs
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11:01 EDTINTCAnalyst says Apple may replace Intel chips in Macs, AppleInsider reports
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10:27 EDTAMZNFacebook, Google seen at front of 'multi-year' positive run for Internet stocks
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09:36 EDTBAC, CActive equity options trading
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09:16 EDTBAC, COn The Fly: Pre-market Movers
HIGHER: ZIOPHARM (ZIOP), up 53% after the company and Intrexon (XON) announced a licensing agreement with University of Texas. Intrexon shares are also up 12%... GameStop (GME), up 10.6% after reporting holiday SSS, providing guidance for the fourth quarter and fiscal 2014, and being upgraded at Pacific Crest... Smith Micro (SMSI), up 12.7% after reporting preliminary fourth quarter revenue and providing revenue guidance for the first quarter and fiscal 2015... BioCryst (BCRX), up 3.2% after receiving a positive opinion on EMA orphan drug designation for BCX4161... GoPro (GPRO), up 1% following analyst remarks that sell-off after yesterday's report on Apple (AAPL) patent was "overdone." DOWN AFTER EARNINGS: JPMorgan (JPM), down 2.7%... Wells Fargo (WFC), down 2.2%... Banking peers down as well, with Bank of America (BAC) down 2.8% and Citi (C) down 2%. ALSO LOWER: Tesla (TSLA), down 9% following comments made by CEO Elon Musk at an automotive conference in Detroit regarding a slowdown in China... New Media (NEWM), down 4.8% after 7M share spot secondary priced at $21.70... General Motors (GM), down 3% after giving 2015 guidance, saying it is on track to meet previously announced 2016 financial targets... Apple (AAPL), down 1% following lawsuit against Ericsson (ERIC) and countersuit filing.
08:25 EDTCTwo Dubai lenders among bidders for Citi consumer unit in Egypt, Bloomberg says
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08:18 EDTINTCIntel Q4 revenue likely to be at high end of guidance range, says Pacific Crest
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07:46 EDTINTCIntel January volatility elevated into Q4 and outlook
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07:42 EDTAMZNEtsy looking to raise $300M with IPO as soon as this quarter, Bloomberg says
Etsy, which operates a website that allows people to sell handmade crafts, is working with Goldman Sachs (GS) and Morgan Stanley (MS) on an initial public offering that could come as soon as this quarter, said Bloomberg, citing people familiar with the matter. Etsy seeks to raise $300M via the offering, the report said. Publicly traded companies in the e-commerce space include Amazon.com (AMZN), eBay (EBAY), Alibaba (BABA) and zulily (ZU). Reference Link
07:34 EDTBACNew rules prompt BofA to sever ties with 150 hedge funds, Bloomberg reports
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07:13 EDTAMZNAmazon could buy controlling stake in Blue Dart, Economic Times reports
Amazon is said to be in preliminary talks to buy a controlling stake in Blue Dart, a courier and integrated express package distribution company, The Economic Times reports, citing sources. One source says Amazon could buy a 75% stake in Blue Dart held by DHL Express Singapore, though it was noted that talks are currently at an early stage. Reference Link
06:57 EDTBACBarclays appoints Jonathan Moulds as Group COO
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06:29 EDTINTCCompanies reach new deal on worker hiring issue, Reuters says
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06:16 EDTINTCIntel to expand 2-in-1 reference design to 12.5-inch display, DigiTimes says
Intel has expanded its $349-$399 2-in-1 devices' reference design to cover 12.5-inch display products, reports DigiTimes. Citing sources from notebook makers, the expansion will likely heat up competition in the 12-inch IT product segment. Reference Link
06:14 EDTHPQMediaTek: Worldwide tablet shipments rise at slower pace, DigiTimes says
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06:04 EDTCCiti appoints CD Davies head of global Mortgage business
Citi yesterday announced that CD Davies has been appointed Head of Citiís Mortgage business globally. Davies joined Citi in March 2014. He will continue to report to Jane Fraser, CEO of CitiMortgage and U.S. Consumer and Commercial Banking. Davies was previously President and CEO of Wachovia Mortgage Corporation.
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