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Stock Market & Financial Investment News

News Breaks
January 31, 2014
08:46 EDTBLK, MW, GS, RDC, MSFT, TGT, BX, GOOG, IBM, LNVGY, TWTR, JOSBOn the Fly: Periodicals Wrap
WSJ: BlackRock (BLK) reduced Spanish, Italian sovereign bond holdings...Twitter (TWTR) uses Super Bowl to reinforce ad platform...REUTERS: Lenovo (LNVGY) likely to receive regulatory approval for IBM (IBM), Google (GOOG) deals...Blackstone (BX) hired to consider TI Automotive IPO or sale...Target (TGT) representative guarded in U.S. panel briefing...China's JD.com filed for a U.S. listing...BLOOMBERG: Microsoft (MSFT) preparing to name Satya Nadella CEO, may name Thompson chairman...Rowan (RDC) battling out-of-control gas well in Gulf of Mexico...OTHER NEWS: Goldman Sachs (GS) sued by Libya's sovereign wealth fund, FT reports...Men's Wearhouse (MW) could raise bid for Jos. A Bank (JOSB), NY Times reports.
News For BLK;TWTR;LNVGY;IBM;GOOG;BX;TGT;MSFT;RDC;GS;MW;JOSB From The Last 14 Days
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August 20, 2014
07:58 EDTMSFTBallmer stepping down a positive for Microsoft, says FBR Capital
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07:01 EDTGOOGGarmin introduces first Android-based fleet navigators
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06:36 EDTMSFT, GOOGIliad speaks to Google, Microsoft regarding T-Mobile offer, NY Post says
After Iliad's (ILIAF) surprise bid for T-Mobile (TMUS) was rejected, the firm is now in contact with , personnel at Google (GOOG) and Microsoft (MSFT) about working together to come up with a larger offer for the company, according to the New York Post, citing a "well-placed" source. Reference Link
06:12 EDTLNVGYLenovo to decrease notebook production outsourcing, DigiTimes reports
Lenovo plans to reduce notebook outsourcing as it raises in-house notebook production in 2015, reports DigiTimes. Citing Taiwan-based supply chain makers based on Lenovo's requests for quotation for 2015, total outsourcing orders will decrease by over 3M units on year and the correpsonding proportion of targets is expected to slip to 40% from 50%. Reference Link
August 19, 2014
17:14 EDTMSFTOn The Fly: Closing Wrap
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16:00 EDTTWTROptions Update; August 19, 2014eBay
iPath S&P 500 VIX Short-Term Futures down 28c to 27.52. Option volume leaders: AAPL C HD PBR GILD AA NFLX TWTR TSLA EBAY according to Track Data.
15:16 EDTTGTNotable companies reporting before tomorrow's open
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14:42 EDTTGTTarget August weekly 59.5 straddle priced for 2.4% move into Q2
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14:12 EDTMSFTBallmer steps down from Microsoft board, sees holding shares
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13:04 EDTTGTTarget technical comments before earnings
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13:00 EDTTGTEarnings Preview: Target cuts Q2 EPS view to reflect flat U.S. segment SSS
Target (TGT) is scheduled to report second quarter results before the market open on Wednesday, August 20, with a conference call scheduled for 10:30 am ET. Target offers merchandise at discounted prices through its retail stores and online business. EXPECTATIONS: Analysts are looking for earnings per share of 79c on revenue of $17.38B, according to First Call. The consensus range for EPS is 78c-91c on revenue of $17.28B-$17.5B. LAST QUARTER: Target reported first quarter adjusted EPS of 70c on revenue of $17.05B, against estimates for 71c and $17.01B, respectively. U.S. comparable sales decreased 0.3% in Q1, near the high end of the expected range. Target was unable to estimate future expenses related to the data breach that occurred in the fourth quarter of 2013, but said costs may have a "material adverse effect" on Q2 and FY14 results. NEWS: In July, Target named Brian Cornell as chairman and Chief Executive Officer, effective August 12. Cornell most recently served as the CEO of PepsiCo (PEP) Americas Foods. Chief Financial Officer and former interim CEO John Mulligan previously told CNBC that he would be "happy" transitioning back to CFO role. The company cut its Q2 adjusted EPS guidance to "within a range around 78c" from 85c-$1.00, which excluded approximately 2c related to the expected reduction of its beneficial interest asset, as well as any net expenses related to the data breach. The updated guidance reflects U.S. Segment essentially flat comparable sales with lower-than-expected EBITDA margin driven by promotional markdowns, as guests continue to spend cautiously and focus on value in the current environment, and Canadian segment's somewhat softer-than-expected sales combined with the impact of continued investments to clear excess inventory. The Q2 results are also expected to include gross expenses of $148M related to the December 2013 data breach. Mulligan commented that the environment in both the U.S. and Canada "continues to be challenging, and results arenít yet where they need to be," but noted that the retailer is making progress in efforts to drive U.S. sales and traffic and improve Canadian operations. Target plans to extend the hours at over 50% of its U.S. locations in an effort to increase the number of customers who shop later in the day, according to the Wall Street Journal, citing a spokesperson. STREET RESEARCH: Goldman downgraded Target to Neutral from Buy and cut its price target to $59 from $65 to reflect estimate cuts following the Q2 pre-announcement, lack of catalysts, and e-commerce devaluation of general merchandise retailers. Baird thinks that Target may see better results later in 2014 and could restart its share buybacks at some point in the second half of the year, but sees stiff competition in Target's space. Wells Fargo wrote that the costs related to the data breach are on track to come in well below the $1B that some had initially feared. PRICE ACTION: Target shares are up almost 2% over the past three months. In intra-day trading ahead of tomorrow's earnings report, shares are up more than 1% to $59.35.
11:25 EDTMSFTHTC unveils the HTC One for Windows
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11:05 EDTIBMImperva seen as takeover candidate under new CEO
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08:42 EDTIBMImperva new CEO has history of selling companies, says Sterne Agee
After Imperva (IMPV) appointed Anthony Bettencourt as its new CEO, Sterne Agee says that he has a history of selling companies. The firm believes that Imperva "would likely be an acquisition candidate" for a number of large tech companies such as Cisco (CSC), Juniper (JNPR), HP (HPQ), IBM (IBM), Check Point (CHKP), or F5 (FFIV). Sterne Agee believes that Imperva could be acquired for as much as $45 per share, and it keeps a Buy rating on the stock.
07:07 EDTTGTTarget weekly volatility increases into Q2 and outlook
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06:50 EDTGOOGImages show impending Google music subscription service, Android Police says
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06:34 EDTGSGoldman abandons effort to toss out $1B Gaddafi suit, Telegraph says
Goldman Sachs (GS) abandoned its effort to toss out a London court suit from the Libyan Investment Authority who alleged that the bank lost over $1B worth of funds during the final years of Muammar Gaddafi's reign as dictator, according to the Telegraph, citing comments from the LIA. The LIA sued both Goldman and Societe Generale (SCGLY) over claims that the banks' London divisions took-in exorbitant fees while losing money in derivative trades. Reference Link
06:13 EDTGOOGContinental AG hires Google's Seval Oz to lead new division, WSJ reports
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06:10 EDTTWTRTwitter testing highlighting 'favorited' tweets, WSJ reports
Twitter is testing inserting tweets in some users' timelines that have been "favorited" by accounts they follow, an experiment which is receiving mixed reviews, the Wall Street Journal reports. Reference Link
05:57 EDTGOOGGoogle to offer accounts to children under 13, WSJ reports
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