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Stock Market & Financial Investment News

News Breaks
March 28, 2014
12:16 EDTIDRA, CBSO, RHT, CBS, PCG, RH, BBRYOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the market looks to finish a relatively down week on an up note. The Nasdaq average, which has been down after all but one session this week, is reversing the trend and leading the other averages near noon. ECONOMIC EVENTS: In the U.S., personal income and consumer spending both rose 0.3% in February, matching expectations. The core PCE price index rose 0.1% in the month, which was also in-line with estimates. The final University of Michigan consumer sentiment reading for March came in at 80.0, which was down from February's 81.6 reading and a bit below expectations. In Europe, an index of executive and consumer sentiment rose to 102.4 in March from 101.2 in February, beating the consensus estimate of economists. COMPANY NEWS: Shares of beleaguered smartphone maker BlackBerry (BBRY) initially advanced after the company reported quarterly losses that were not as bad as analysts expected, excluding certain adjustments. BlackBerry said about 3.4M of its smartphones were sold through to end customers in the quarter, which included about 2.3M BlackBerry 7 devices. The company also said it continues to look for opportunities to streamline operations and is targeting break even cash flow results by the end of fiscal 2015. By midday the stock had given up all its early session gains to be down about 2%... CBS (CBS) rose more than 1% after the successful initial public offering of its outdoor advertising subsidiary CBS Outdoor Americas (CBSO). After the offering, CBS owns approximately 83% of CBS Outdoor, which plans to convert into a real estate investment trust later this year. The IPO priced at $28.00 per share and the new stock began trading at $30.10 in its debut this morning. MAJOR MOVERS: Among the notable gainers was home furnishing retailer Restoration Hardware (RH), which rose 12% after the company’s first quarter profit view beat estimates. Also higher were shares of Idera Pharmaceuticals (IDRA), which rose 11% after the company's Phase 2 trial of its treatment for moderate-to-severe plaque psoriasis met its primary objective. Among the noteworthy losers was PG&E Corporation (PCG), which dropped 4% after reporting that they expect that the federal government will bring criminal charges against the utility in connection with the 2010 San Bruno natural gas transmission pipeline accident. Following the announcement the stock was downgraded this morning at Deutsche Bank and Citigroup. Also lower was open source software provider Red Hat (RHT), which fell over 4% after the company’s profit outlook trailed analysts’ consensus estimate. INDEXES: Near midday, the Dow was up 124.94, or 0.77%, to 16,389.17, the Nasdaq was up 40.21, or 0.97%, to 4,191.44, and the S&P 500 was up 15.11, or 0.82%, to 1,864.15.
News For BBRY;CBS;CBSO;RH;RHT;IDRA;PCG From The Last 14 Days
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November 13, 2014
15:40 EDTBBRYBlackBerry CEO says mission is to soften the SAF trajectory
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15:25 EDTBBRYBlackBerry CEO says company is hiring
15:23 EDTBBRYBlackBerry CEO says may do acquisitions and more partnerships
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15:19 EDTBBRYBlackBerry CEO says company is now financially stable, cash position strong
15:17 EDTBBRYBlackBerry CEO says has complimentary strengths with Samsung
BlackBerry CEO speaking on CNBC.
13:28 EDTBBRYBlackBerry hits 52-week high after unveiling partnerships
Shares of BlackBerry (BBRY) hit a new 52-week high after the company announced three new partnership deals. The company is slated to hold its analyst day today, starting at 3:30 PM ET. WHAT'S NEW: BlackBerry announced that it would partner with Samsung to provide a security solution for the South Korean company's mobile devices that utilize Google's (GOOG) Android operating system. Under the deal, BlackBerry’s BES12, an Enterprise Mobility Management system, or EMM that was launched today, will be integrated with some of Samgung's Galaxy smartphones and tablets. BES 12 "securely manages devices from all of the major enterprise mobile platforms" and "will help organizations securely connect employees with each other and with the corporate information and machines” they need, BlackBerry stated. Also today, Blackberry announced that it would connect its EMM solutions to Salesforce's (CRM) top customer relationship management platform. "This agreement will allow Salesforce and BlackBerry joint customers to run their businesses from their phone while complying with specific industry regulations," said Vivek Kundra, a Salesforce Executive Vice President in a statement. "BlackBerry has an excellent reputation in security and networks, and when matched with the Salesforce Customer Success Platform, public sector organizations can use their mobile devices to connect with customers in a whole new way," added Kundra. Finally, BlackBerry announced that Brightstar would distribute BES 12. BlackBerry described Brightstar as "the world's largest wireless distribution company and leader in services for the wireless industry." WHAT'S NOTABLE: BES12 is expected to compete with Apple (AAPL) in the enterprise space. Apple earlier this year announced that it was partnering with IBM (IBM) in an effort to sell more products to corporate customers. PRICE ACTION: In mid-afternoon trading, BlackBerry jumped 6% to $11.95. Earlier today the shares set a new 52-week high of $12.05.
13:12 EDTCBSGruss Capital reports 5.02% passive stake in CBS
12:29 EDTBBRYCitron Research says confident in $15 target for BlackBerry
Citron Research stated on Twitter: "All systems a go for Mr. Chen. New deal with Samsung makes Citron feel confident about our near term $15 target [on BlackBerry.] New 52 week high" Reference Link
12:04 EDTBBRYBlackBerry announces strategic partnership with Samsung
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12:03 EDTBBRYBlackBerry announces agreement with Salesforce.com
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12:01 EDTBBRYBlackBerry announces partnership with Brightstar
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11:00 EDTBBRYStocks with call strike movement; ARCP BBRY
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10:47 EDTCBSLionsgate and CBS Films announce multi-year film distribution partnership
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06:17 EDTCBSSony unveils PlayStation Vue, a cloud-based TV service
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November 12, 2014
12:00 EDTBBRYBlackBerry to host investor day
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10:43 EDTCBSBernstein downgrades Discovery, Viacom, citing 'structural decline' in TV
Research firm Bernstein sees strong evidence that audiences of ad-supported TV have entered a period of "structural decline." The firm cut its rating on Discovery (DISCA), the owner of the Discovery Channel and Animal Planet cable stations, and Viacom (VIA,VIAB), which owns MTV and and Nickelodeon. The firm also cut its price target on CBS (CBS). WHAT'S NEW: Noting that audiences for ad-supported TV have fallen by unprecedented amounts for four months, Bernstein analyst Todd Juenger added that consumption of subscription video on demand, or SVOD, services continue to grow. Meanwhile, TV networks are seeing increased competition from Internet websites for ad dollars, limiting the ability of the networks to raise ad prices, Juenger stated. The profit margins and return on investment of content owners are likely to decline over time, the analyst believes. He downgraded Discovery to Market Perform from Outperform and set a $37 price target on the stock, and cut Viacom to Underperform from Market Perform, placing a $71 price target on that stock. Juenger reduced his price target on CBS to $55 from $60 and kept a Market Perform rating on the shares. He kept Outperform ratings on 21st Century Fox (FOXA), Disney (DIS), and Time Warner (TWX), saying that those are least affected by the trend, as they are less dependent than their peers on the American TV ad market and have a large amount of sports programming. PRICE ACTION: In mid-morning trading, Discovery lost 0.6% to $31.81, Viacom class A shares gained 0.6% to $70.09, CBS fell 0.7% to $51.48, Twenty-First Century Fox class A shares lost 0.5% to $34.75, Time Warner fell 0.5% to $77.69 and Disney was flat near $90 per share.
07:48 EDTCBSWells Fargo to hold a conference
5th Annual Technology, Media & Telecom Conference is being held in New York on November 12-13.
November 11, 2014
18:19 EDTCBSCBS, Disney look to block FCC Comcast merger disclosures, Bloomberg says
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November 10, 2014
08:26 EDTBBRYBlackBerry CEO meets with Lenovo, seeks partnerships in China, Bloomberg reports
BlackBerry (BBRY) CEO John Chen acknowledged meeting with the heads of Xiaomi and Lenovo (LNVGY) and said his company's strengths in security, encryption and privacy may present opportunities for agreements on technology licensing, distribution or manufacturing in China, reported Bloomberg, citing an interview with Chen at the Asia-Pacific Economic Cooperation CEO Summit. Reference Link
07:11 EDTCBSOpen Mobile Media to hold a summit
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