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Stock Market & Financial Investment News

News Breaks
April 3, 2014
09:14 EDTBKS, CYTR, ORCL, FIO, MON, VVUS, LQDT, PLUG, LMCA, CACIOn The Fly: Pre-market Movers
HIGHER: Plug Power (PLUG), up 3% after agreeing to acquire hydrogen fuel cell stack technology developer ReliOn... Fusion-io (FIO), up 2% after announcing a collaboration with Oracle (ORCL) on the development of flash-aware interfaces for MySQL... Monsanto (MON), up 1.5% following upgrades to Overweight at JPMorgan... CytRx (CYTR), up 9.7% after announcing data from a trial that it said supports the current evaluation of aldoxorubicin as a treatment for patients with GBM tumors. LOWER: Liquidity Services (LQDT), down 13% after confirming it withdrew from live auction bidding for the DoD rolling stock contract, shares downgraded to Neutral at RW Baird... Barnes & Noble (BKS), down 9% after Liberty Media (LMCA) agreed to reduce its stake in B&N... VIVUS (VVUS), down 5% following downgrade to Underweight at Piper Jaffray... CACI International (CACI), down 8.7% after cutting its fiscal 2014 earnings and sales outlook, citing reduced government spending and delays in award activity.
News For BKS;LMCA;PLUG;LQDT;VVUS;MON;FIO;ORCL;CYTR;CACI From The Last 14 Days
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October 22, 2014
10:36 EDTORCLOracle downgraded to Neutral from Buy at Tigress Financial
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08:32 EDTBKSSamsung, Barnes & Noble introduce new large screen Galaxy Tab 4 NOOK
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October 21, 2014
14:34 EDTORCLEarnings Preview: EMC reports after HPQ merger talks said to end
EMC Corporation (EMC) is expected to report third quarter earnings before the bell on Wednesday, October 22, with a conference call scheduled for 8:30 am ET. EMC provides software, hardware and IT services to business customers through its three federated businesses: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure, which is represented by EMC’s majority equity stake in VMware (VMW). VMware is expected to report on its own third quarter results after the bell on Tuesday, October 21, with a conference call scheduled for 5:00 pm ET. EXPECTATIONS: For EMC, analysts are looking for earnings per share of 46c on revenue of $6.0B. The consensus range is 44c-49c for EPS and $5.91B-$6.16B for revenue, according to First Call. Along with its last earnings report, EMC raised its FY14 adjusted EPS view to $1.91 from $1.90 and guided to FY14 revenues of $24.58B. Analysts consensus for FY14 EPS and revenue currently stand at $1.91 and $24.55B. For VMware, analysts are looking for earnings per share of 83c on revenue of $1.5B. The consensus range is 81c-85c for EPS and $1.48B-$1.52B for revenue, according to First Call. LAST QUARTER: EMC reported Q2 adjusted EPS of 43c, which matched the consensus expectation. EMC's revenue of $5.9B came in slightly ahead of the $5.83B consensus projection. EMC also accelerated its 2014 share buyback plan, stating that it now expects to repurchase an aggregate of $3B of the company's common stock in 2014. VMware reported Q2 EPS of 81c, versus consensus of 79c, on revenue $1.46B, versus consensus of $1.44B. NEWS: VMware held its "VMWorld 2014" conference from August 24-28, during which the company updated its 2015 guidance. VMware's guidance for revenue growth in the mid teens percentage level and margin expansion of up to one percentage point is positive, RBC Capital analyst Matthew Hedberg wrote in a note to investors on August 26. The same day Cowen analyst Gregg Moskowitz wrote that VMware's FY15 revenue guidance would "likely weigh modestly" on the stock, even though he was not surprised by the outlook. Less than two weeks ago, Elliott Management sent a letter to the board of directors of EMC Corporation detailing its recommendations on the right path forward for EMC, in which Elliott holds a stake. Elliott believes that EMC’s Federation structure obscures enormous value at the company and that the board and management should pursue pathways to recognize this value, including a separation of VMware from Core EMC and/or various M&A opportunities, Elliott wrote. In response, EMC said its directors regularly review and evaluate the company's strategy with a view towards enhancing shareholder value. "Over the past few months, EMC's leadership has met with representatives of Elliott several times and has listened carefully to their ideas, as we do with all of our shareholders," the company said. Last week, HP (HPQ) announced the resumption of its share repurchase program after Reuters reported the company's merger talks with EMC had ended. HP had suspended the buyback program due to "possession of material non-public information." The tech giant said that day that it is "no longer in possession of such information." During September, Re/code reported, citing sources familiar with Oracle's plans, that the company was not interested in acquiring EMC. Meanwhile, Cisco (CSCO) CEO John Chambers also said last month at a Wall Street Journal breakfast that his company is not among the potential merger partners for EMC. Chambers said a deal between the two companies would have been done a "year or two ago" were it to happen, according to Reuters. STREET RESEARCH: On the day after its last earnings report, Brean Capital raised its price target on EMC to $33 from $30, citing the company's aggressive capital return strategy, encouraging core Storage dynamics and potential pent up demand. Tigress Financial, however, downgraded EMC to Buy from Strong Buy, citing valuation. Additionally, VMware estimated that its total available market would reach more than $60B in 2017, versus its estimate last year of a $50B+ total addressable market by 2016, Moskowitz noted. PRICE ACTION: In afternoon trading, EMC shares are up 1% to $27.22, while VMware is fractionally higher at $87.79. Over the last three months, EMC shares have declined almost 4%, while VMware's stock is down about 5.5% in that same time frame.
09:31 EDTBKSEagle Materials, GenCorp mentioned positively by Lerner, Bloomberg reports
Chesapeake Partners' Traci Lerner is said to have mentioned Eagle Materials (EXP), GenCorp (GY), Barnes & Noble (BKS) and American Airlines (AAL) as stocks she likes, according to Bloomberg, citing comments made by Lerner at the Robin Hood Conference.
06:40 EDTORCLForrester: Adobe becomes marketing cloud leader, VentureBeat reports
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October 20, 2014
12:09 EDTORCLIBM hits 52 week low after earnings miss, 2015 profit target dropped
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06:09 EDTCYTRCytRx announces positive data from Phase 1b/2 study of Aldoxorubicin
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October 17, 2014
09:17 EDTCYTROn The Fly: Pre-market Movers
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06:15 EDTCYTRCytRx aldoxorubicin trial not yet reached enough survival events to report OS
CytRx announced that data regarding the company's Phase 2b global clinical trial of aldoxorubicin for the treatment of first-line soft tissue sarcoma, or STS, will be presented in a moderated paper presentation at the 2014 Connective Tissue Oncology Society Annual Meeting which is being held October 15-18, 2014, in Berlin, Germany. Due to the longer than expected survival of patients in the clinical trial, there have not been a sufficient number of survival events to enable the company to report data on overall survival, or OS, a secondary endpoint of the study.
October 16, 2014
14:13 EDTMONU.S farmers use less fertilizer this autumn as crop prices fade, Reuters says
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October 13, 2014
07:45 EDTMONU.S. chemical company declines an overreaction to macro outlook, says UBS
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06:03 EDTCYTRCytRx commenced operations at new discovery laboratory
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October 12, 2014
17:20 EDTMONGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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October 10, 2014
12:05 EDTMONUSDA raises U.S. corn production estimate to 14.475B
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07:03 EDTPLUGPlug Power backs FY14 revenue guidance of $75M, consensus $75.93M
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