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Stock Market & Financial Investment News

News For BUD;AJG;DB;ERIC;GME;GWAY;ORCL;PCAR;VZ;WMS;WYNN;SMRT;PMCS;TMO From The Last 14 Days
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October 24, 2014
16:54 EDTVZMarket ends week higher as Apple leads list of earnings winners
Stocks ended the week higher as stronger than expected economic data and upbeat results from a number of companies lifted shares. MACRO NEWS: In the U.S., existing home sales for September and leading economic indicators for the month beat expectations, while weekly jobless claims were roughly in-line with expectations. Markit's “flash” manufacturing Purchasing Managers' Index for October came in at 56.2, versus the consensus forecast for a 57.0 reading... China reported that its GDP rose 7.3% in Q3, above the 7.2% growth expected by economists. HSBC's flash PMI inched up to 50.4 from a final reading of 50.2 in September, beating the consensus forecast for a 50.3 reading. The Asian country said that its industrial production jumped 8% versus the year earlier, easily beating the anticipated 7.5% increase... A euro zone purchasing managers' index increased to 52.2 in October from 52 in September. Most analysts had expected the index to decline modestly. COMPANY NEWS: Apple (AAPL), Microsoft (MSFT), Harley-Davidson (HOG), Yahoo (YHOO), Caterpillar (CAT), diversified manufacturer 3M (MMM) and chip maker Broadcom (BRCM) were among the companies that reported higher than expected profits. Conversely, the bottom lines of IBM (IBM), McDonald's (MCD), Verizon (VZ), AT&T (T), and Angie's List (ANGI) missed expectations... Shares of Amazon (AMZN) fell after the company reported weaker than expected results and provided lower than expected revenue guidance. At least two analysts downgraded the stock following its quarterly report, while a number of others cut their price targets on the shares... Boeing (BA) reported stronger than expected results and raised its full year core EPS guidance, but its stock fell as the airplane maker reduced its full year operating cash flow guidance... Pandora's (P) shares tumbled after the company's Q3 results beat expectations, but its total listener hours declined in Q3 versus Q2... Shares of drug maker Biogen Idec (BIIB) fell after the Q3 sales of its flagship multiple sclerosis treatment, Tecfidera, came in below expectations. Additionally, Biogen reported that one of the patients taking the drug had died after contracting a disease previously linked to MS treatments... BlackBerry (BBRY) rallied following renewed rumors that Chinese computer maker Lenovo (LNVGY) is looking to buy the smartphone maker... At home soda machine maker SodaStream (SODA) rallied after the company said that it would test making some of PepsiCo's (PEP) brands available on its machines. INDEXES: For the week, the Dow gained 2.58% to close at 16,805.41, the S&P 500 rose 4.12% to close at 1,964.58, and the Nasdaq advanced about 5.28% to close at 4,483.71.
16:18 EDTERICEricsson trades down 2.9% following Q3 earnings report
Before the open this morning, Ericsson reported Q3 non-IFRS EPS SEK 1.11 vs. SEK 1.31 last year. The company reported Q3 revenue SEK 57.6B vs. SEK 53.0B last year. Shares ended the day down 2.9% to $11.47.
12:52 EDTDBDeutsche Bank expects Q3 litigation costs of EUR 894M
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12:38 EDTVZFCC delays incentive auction until early 2016
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12:30 EDTGMEGameStop November calls active
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09:54 EDTDBDeutsche Bank braces for $1.3B in UK and UK Libor-related fines, Reuters says
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09:54 EDTDBDeutsche Bank sails through stress test enacted by ECB, Reuters says
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08:44 EDTDBECB draft shows 25 EU banks set to fail stress test, Bloomberg says
Bloomberg cites a draft ECB document the news service has viewed. Publicly traded EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).
07:58 EDTBUDMolson Coors seen as winner if peers merge, Bloomberg says
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October 23, 2014
09:39 EDTVZActive equity options trading on open
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07:46 EDTDBSunEdison closes financing to build 26 MW utility solar power plant
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06:27 EDTVZSpherix provides litigation update
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06:05 EDTERICApple defeats GPNE civil patent suit, Re/code reports
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05:58 EDTVZVerizon makes investment in Flint Mobile, TechCrunch reports
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October 22, 2014
11:34 EDTTMOLeerink's life science tools analyst holds an analyst/industry conference call
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10:36 EDTORCLOracle downgraded to Neutral from Buy at Tigress Financial
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06:13 EDTTMOThermo Fisher reports Q3 Life Sciences Solutions revenue $1.07B
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06:12 EDTTMOThermo Fisher reports expanded adjusted margin by 250 basis points in Q3
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06:02 EDTTMOThermo Fisher narrows FY14 adjusted EPS to $6.87-$6.95 from $6.85-$6.97
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06:00 EDTTMOThermo Fisher reports Q3 adjusted EPS $1.71, consensus $1.69
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October 21, 2014
16:36 EDTVZOn The Fly: Closing Wrap
Stocks on Wall Street were higher after a report showed existing homes sales hit their fastest pace in a year during September and Apple (AAPL) gave a better than expected sales forecast for its December quarter. ECONOMIC EVENTS: In the U.S., existing home sales beat estimates in September, rising 2.4% from the prior month to a 5.17M rate. In China, GDP slowed to 7.3% year-over-year growth pace in Q3 from 7.5% in Q2, though that was slightly better than expected. Chinese industrial production expanded at a 8.0% rate in September, which was well above projections and up from 6.9% growth in August. China's retail sales grew 11.6% in September compared to the prior year, which was nearly in-line with expectations. COMPANY NEWS: Shares of Apple rose $2.71, or 2.72%, to $102.47 after the company reported better than expected quarterly results and gave a better than expected forecast for its sales during the holiday quarter. Following last night's report, analysts at Cantor Fitzgerald said the iPhone maker "executed impressively" in Q4 and provided a strong outlook for Q1. The firm, which believes investors should "start thinking more boldly" about the company, raised its price target for shares to $143 from $123 and kept a Buy rating on the stock... Five of the Dow's 30 members reported on their quarterly results this morning and Coca-Cola (KO) was the clear loser in the bunch. The soda giant's shares dropped $2.61, or 6.03%, to $40.68 after its revenue missed expectations, it warned that it now expects to be below its long-term EPS growth target for 2014, and the company announced new cost-saving measures. Among the other four, McDonald’s (MCD) fell 0.63%, Verizon (VZ) added 0.43%, United Technologies (UTX) gained 0.49%, and Travelers (TRV) rose 1.12%. MAJOR MOVERS: Among the notable gainers following their earnings reports were medical equipment manufacturer Waters (WAT), which rose $9.63, or 9.87%, to $107.17, and motorcycle maker Harley-Davidson (HOG), which advanced $4.27, or 7.31%, to $62.65. Among the noteworthy losers was Ocwen Financial (OCN), which plunged $4.78, or 18.2%, to $21.48 after the company was called out by the New York Department of Financial Services for erroneously dated letters to borrowers. Benjamin Lawsky, the Superintendent for the NYDFS, stated in his letter to the company that if his department concludes it cannot trust Ocwen's systems and processes, "then it cannot trust Ocwen is complying with the law." Also lower following their earnings reports were Mexican restaurant operator Chipotle (CMG), which fell $45.48, or 6.96%, to $607.55, and defense contractor Lockheed Martin (LMT), which slid $2.92, or 1.66%, to $172.61. INDEXES: The Dow gained 215.14, or 1.31%, to 16,614.81, the Nasdaq advanced 103.40, or 2.4%, to 4,419.48, and the S&P 500 rose 37.27, or 1.96%, to 1,941.28.
15:35 EDTWYNN, TMONotable companies reporting before tomorrow's open
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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.
12:57 EDTVZOn The Fly: Midday Wrap
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09:37 EDTVZActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL PBR AMZN C TWTR CVX VZ MCD GILD TXN
09:24 EDTVZVerizon CFO sees FiOS prices going up in Q4 due to content costs
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09:15 EDTVZOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Apple (AAPL), up 3%... Texas Instruments (TXN), up 2.3%... Harley Davidson (HOG), up 7%... Celanese (CE), up 4%... United Technologies (UTX), up 1.4%. ALSO HIGHER: Neonode (NEON), up 20% after signing technology development agreement with global tier-one printer OEM... Illumina (ILMN), up 10%, upgraded at Janney Capital following the company's better than expected Q3 earnings. DOWN AFTER EARNINGS: Coca-Cola (KO), down 5%... Chipotle (CMG), down 4.6%... Verizon (VZ), down 1%. ALSO LOWER: CEL-SCI (CVM), down 15.3% after announcing proposed offering of common stock, warrants... Omeros (OMER), down 12% after suspending Huntington's clinical trial with OMS824... Tesoro Logistics (TLLP), down 2.4% after 20M share secondary priced at $57.47... Rhino Resources (RNO), down 53%, downgraded to Underperform at Raymond James following the reduction in its quarterly cash dividend.
09:06 EDTVZVerizon says 'nothing to announce' regarding asset sales
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09:03 EDTVZVerizon says has highest backlog ever coming into an iPhone launch Q4
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09:01 EDTVZVerizon says will have 'rational' response to competition in wireless market
08:55 EDTVZVerizon sees price-sensetive pre-paid customers moving to post-paid
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08:18 EDTDBBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
07:40 EDTVZVerizon reports Q3 retail postpaid ARPA up 3.5% to $161.24
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07:36 EDTVZVerizon backs FY14 target of 4% consolidated top-line growth
FY14 revenue consensus $126.08B. For the full year, results for consolidated adjusted and wireless segment EBITDA service margin will be dependent on Q4 volumes and installment take rates. Wireline segment EBITDA margin remains on track to expand on a full-year basis, Verizon said.
07:34 EDTVZVerizon sees FY14 capital spending near $17B
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07:33 EDTVZVerizon CEO says seeing continued, healthy demand for wireless, broadband
Verizon Communications Chairman and CEO Lowell McAdam said: "We have great confidence heading into the fourth quarter, as Verizon continues to deliver consistently strong operating and financial results. We see continued, healthy customer demand for wireless and broadband services, and we are encouraged by the growth we are starting to see in the areas of video delivery and machine-to-machine. Our cash generation remains strong, and last month we were pleased to announce board approval of a quarterly dividend increase for the eighth consecutive year."
07:32 EDTVZVerizon reports Q3 EPS 89c, consensus 90c
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06:52 EDTDBCiti purchasea Deutsche energy, metals book, Reuters says
Citigroup (C) acquired Deutsche Bank's (DB) energy and metals book, which is the U.S. company's latest expansion effort in commodities trading as some of its competitors look to exit that sector, according to Reuters, citing a source familiar with the matter. Reference Link
06:40 EDTORCLForrester: Adobe becomes marketing cloud leader, VentureBeat reports
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October 20, 2014
15:36 EDTVZNotable companies reporting before tomorrow's open
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15:19 EDTVZVerizon technical commentary before earnings
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13:53 EDTVZEarnings Preview: Verizon sentiment mixed ahead of Q3 report
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12:09 EDTORCLIBM hits 52 week low after earnings miss, 2015 profit target dropped
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07:17 EDTVZVerizon weekly volatility elevated into Q3 and outlook
Verizon October weekly call option implied volatility is at 25, November and January is at 16; compared to its 26-week average of 15 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 21.
October 17, 2014
09:00 EDTGMEGameStop management to meet with SunTrust
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05:39 EDTGMESeptember NPD video game software sales fell 36%, says Piper Jaffray
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October 16, 2014
06:50 EDTDBEuropean regulator rejects bonus loophole, NY Times says
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October 15, 2014
14:10 EDTWYNNPennsylvania reports September gaming revenue down 2.2% to $239.5M
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14:06 EDTWYNNAtlantic City reports September gaming win down 12.8% to $209.4M
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10:11 EDTGMEGameStop expands layaway program for 2014 holiday season
GameStop announced that it will expand its 2014 holiday layaway program to include more products. In addition, through its new PowerUp Rewards credit card, GameStop is offering special financing. For a limited time, PowerUp Rewards Pro credit cardholders will receive zero percent interest on purchases of $500 or more for six months, GameStop announced.
09:40 EDTGMEGameStop upgraded to Neutral from Underperform at Hilliard Lyons
09:14 EDTDBDeutsche Asset & Wealth Management hires Dessy Arteaga from JPMorgan
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07:26 EDTDBCapital Link to hold a webinar
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October 14, 2014
14:21 EDTTMOThermo Fisher confirms review of alleged Kinetica bugs, Reuters reports
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10:01 EDTWYNNOn The Fly: Analyst Downgrade Summary
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09:37 EDTVZActive equity options trading on open
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08:13 EDTVZCorvex says Crown Castle, Verizon deal would 'diversify' revenues
Corvex said, "A Verizon (VZ) tower deal would diversify Crown Castle's (CCI) revenues and deepen the company's relationship with arguably the U.S.'s strongest wireless company and operator of the country's most robust network. As the largest and most-focused U.S. tower operator and the largest operator of legacy carrier portfolios, Crown Castle could be the best strategic acquirer of Verizon's tower assets. That does not mean the company will be best positioned financially to provide the highest and best bid though. Based on recent press articles, the potential sale price for the Verizon towers could be approximately $6B. However, we strongly believe that the company should not issue any equity at recent prices, and certainly not to acquire more tower assets at premium prices when Crown Castle continues to trade at a material discount to both transaction multiples and publicly traded peers."
08:07 EDTWYNNWynn Resorts downgraded at BofA/Merrill
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06:38 EDTWYNNWynn Resorts downgraded to Neutral from Buy at BofA/Merrill
Price target lowered to $195 from $210.
October 13, 2014
14:01 EDTAJGArthur J. Gallagher acquires Bennett & Shade
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07:26 EDTBUDAB InBev has studied potential deal to acquire PepsiCo, Bloomberg says
Anheuser-Busch InBev (BUD), which has a history of growth via acquisition and has been speculated to be targeting peer SABMiller (SBMRY), has also studied whether a merger with PepsiCo (PEP) makes sense, according to Bloomberg, citing people familiar with the matter. The report added that one source said no talks between Anheuser-Busch and Pepsi are ongoing, no deal is imminent, and the scenario is among many that has been examined. The report also noted that Albert Fried views Monster Beverage (MNST) and Keurig Green Mountain (GMCR) as other suitable targets for AB InBev. Reference Link
05:15 EDTERICFacebook, Ericsson, XL Axiata innovate to improve Indonesia network performance
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October 12, 2014
19:36 EDTDBDeutsche Bank loses traders as it enforces behavior policy, FT says
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14:42 EDTDBDeutsche Bank's provisions for legal costs may rise to $8.8B, Bloomberg says
Deutsche Bank's allocation for potential legal costs may rise to as much as $8.8B, says Bloomberg, citing a report from Spiegel. The banks legal costs which were 3B euros last year are impeding its efforts to build capital and increase returns for investors, added Bloomberg. Reference Link
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