New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 19, 2014
12:32 EDTPIR, COH, TEL, KR, BBRY, MEAS, RHTOn The Fly: Midday Wrap
Stocks on Wall Street were slightly lower at midday after drifting in a narrow range throughout the morning. The S&P 500 did manage to hit a new all-time high again early in the session following a mixed bag of domestic economic data, but the major averages had all moved back into negative ground, but only narrowly, near noon. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 6K to 312K last week, which was nearly in-line with expectations. The Philly Fed manufacturing index rose 2.4 points to 17.8 in June, which was better than expected. The leading economic indicator index for May rose 0.5%, which was slightly below the consensus forecast for it to have grown 0.6%. COMPANY NEWS: Shares of BlackBerry (BBRY) climbed more than 11% after the company reported stronger than expected first quarter results and said that it had recognized revenue on more handsets in Q1 than in the previous quarter. BlackBerry reported a loss per share, excluding certain items, of (11c), versus analysts' consensus estimate of a (26c) per share loss and the company's revenue came in slightly higher than expected. Moreover, it said that it was close to reaching the breakeven point on hardware sales and added that it expects its subscriber numbers to be steady going forward. BlackBerry should be profitable sometime in fiscal 2016, the company's CEO, John Chen, stated. MAJOR MOVERS: Among the notable gainers was Measurement Specialties (MEAS), which advanced 10.5% after announcing last night that it has agreed to be acquired by TE Connectivity (TEL) for $86 cash per share, or a total transaction value of approximately $1.7B including the assumption of debt. Shares of TE Connectivity trading in New York were also up 1% following the news. Also higher following their earnings reports were supermarket operator Kroger (KR), which rose nearly 6%, and open source software provider Red Hat (RHT), which gained about 3%. Among the noteworthy losers was luxury handbag maker Coach (COH), which dropped more than 9% after stating at its investor day meeting that it expects to sees revenue decline by a "low double digit" percentage in FY15. Also lower was home furnishings retailer Pier 1 Imports (PIR), which dropped 13% and hit a fresh 52-week low after the company's first quarter results missed analysts' consensus estimates and it cut its fiscal 2015 earnings per share outlook. INDEXES: Near midday, the Dow was down 23.15, or 0.14%, to 16,883.47, the Nasdaq was down 7.99, or 0.18%, to 4,354.84, and the S&P 500 was down 1.12, or 0.06%, to 1,955.86.
News For BBRY;COH;RHT;KR;PIR;MEAS;TEL From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 >>
September 22, 2015
07:46 EDTRHTRed Hat remains among best positioned infra-software companies, says UBS
UBS said Red Hat remains one of the best positioned pure-play infra-software companies following its steady Q2 results. The firm said the only blemish on the quarter is its as-reported billings, which the firm notes may bounce around from quarter-to-quarter. UBS is incrementally more positive on Red Hat following its recent pullback and reiterated its Buy rating while lowering its price target on shares to $85 from $88.
07:20 EDTRHTRed Hat billings can accelerate in 2H15, says RBC Capital
Subscribe for More Information
06:26 EDTRHTRed Hat price target raised to $89 from $85 at JPMorgan
Subscribe for More Information
06:05 EDTRHTRed Hat Q2 results better than they appear, says Jefferies
Subscribe for More Information
05:17 EDTBBRYStocks with implied volatility above IV index mean; AMD BBRY
Stocks with implied volatility above IV index mean; AMD (AMD) 108, BlackBerry (BBRY) 55 according to iVolatility.
September 21, 2015
16:37 EDTRHTRed Hat raises FY16 EPS view to $1.85-$1.87 from $1.81-$1.84, consensus $1.83
Subscribe for More Information
16:25 EDTRHTRed Hat reports Q2 subscription revenue $442M, up 13% year-over-year
Subscribe for More Information
16:24 EDTRHTRed Hat reports Q2 operating cash flow $120M
Operating cash flow was $120M for the second quarter, an increase of 12% on a year-over-year basis. Total cash, cash equivalents and investments as of August 3 was $2B after repurchasing approximately $70M, or approximately 895 thousand shares, of common stock in the second quarter. As of August 31, the remaining balance in the current repurchase authorization was approximately $430M. Deferred Revenue: At quarter end, the company's total deferred revenue balance was $1.41B, an increase of 13% on a year-over-year basis. The negative impact to total deferred revenue from changes in foreign exchange rates was $91M year-over-year. On a constant currency basis, total deferred revenue would have been up 20% year-over-year as detailed in the tables below
16:21 EDTRHTRed Hat sees Q3 EPS 47c, consensus 46c
Sees Q3 revenue $519M-$523M , consensus $513.56M.
16:20 EDTRHTRed Hat sees FY16 EPS $1.85-$1.87, consensus $1.83
Subscribe for More Information
16:17 EDTRHTRed Hat reports Q2 EPS 47c, consensus 44c
Subscribe for More Information
14:57 EDTRHTNotable companies reporting after market close
Subscribe for More Information
12:48 EDTRHTRed Hat technical comments ahead of earnings
Subscribe for More Information
12:00 EDTBBRYGoogle, Shopify expand presence in BlackBerry's hometown, Reuters says
Subscribe for More Information
10:51 EDTBBRY, PIROptions with increasing implied volatility
Subscribe for More Information
10:49 EDTBBRYGoPro falls after Barron's predicts 'dramatic' drop in share price
GoPro (GPRO) shares fell in morning trading after an article from Barron's argued that the company's share price may drop to as low as $25. WHAT'S NEW: Alexander Eule argued in a Barron's article that GoPro's stock price may see a "dramatic" slip of as much as 30% to $25 due to significant competitive pressure from Apple (AAPL), Sony (SNE) and others. Eule noted that the company's shares have crashed to a recent $35 after peaking at $98 in October 2014 and even called the mostly bullish analyst views on the camera maker's stock "wishful thinking." Additionally, Eule called the company's cameras a "one-product wonder" and compares them to BlackBerry (BBRY) smartphones and Palm digital organizers, which previously dominated their respective markets. The article adds that there is risk in being overly bearish on the company, since the "impressive" brand might become an acquisition target. WHAT'S NOTABLE: Last Wednesday, Citi analyst Jeremy David said that GoPro chief financial officer Jack Lazar confirmed at the bank's Global Tech Conference the week before that the Hero4 Session camera has been off to a slow start since its launch on July 12. David said that the recent selloff in the company's shares has been motivated by investor concerns about the Session. At the time, Citi cut its third quarter fiscal 2015 estimate for the company to $425M from $438M and fourth quarter estimate to $560M from $737M, $148M below consensus estimate at the time of $708M. David also said he was reducing estimates for the second half of fiscal 2015 and first quarter of fiscal 2016 as a result of downside from the Hero4 Session, but left estimates after 1Q16 unchanged, saying the long-term fundamentals of the company are "intact." The analyst added that his firm was "humbled" by the recent move in share price and acknowledged that GoPro is the "quintessential product cycle stock," though he said he remains bullish on the long-term prospects of the camera maker and reiterated a $90 price target. David argued that GoPro missing Q3 estimates and guiding below the consensus for Q4 is largely priced in. Separately, The Wall Street Journal said on September 13 that shares of GoPro were starting to look like a bargain after dropping 50% in a month. The company had a difficult time selling its Hero4 Session camera in July in the face of competition from older GoPro models, the publication added. PRICE ACTION: In morning trading, GoPro shares are down 5.15% to $33.34. OTHERS TO WATCH: Ambarella (AMBA), which supplies chips to GoPro, is down 3.7% to $68.81.
10:05 EDTPIRHigh option volume stocks
Subscribe for More Information
07:43 EDTBBRYBlackBerry September weekly volatility elevated into Q2 and outlook
BlackBerry September weekly call option implied volatility is at 84, October is at 55; compared to its 52-week range of 34 to 75, suggesting large near term price movement into the expected release of Q2 results on September 25.
07:41 EDTRHTRed Hat remains positioned for continued execution, says UBS
UBS said Red Hat remains positioned for continued execution and is one of the best positioned pure-play infra-software companies. The firm is incrementally more positive following the stock's recent pullback. UBS reiterated its Buy rating and $88 price target on Red Hat shares, citing better than expected Q2 sales, net positive results from its deal pipeline and increased customer interest in its OpenStack product.
05:21 EDTBBRYStocks with implied volatility above IV index mean; AMD BBRY
Subscribe for More Information
1 | 2 | 3 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use