New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 31, 2013
12:33 EDTLQDT, BYI, FIO, FB, CLSN, SGMS, SWKS, STZ, RDEN, IGT, WMS, QCOM, BUDOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday after jobless claims jumped last week and consumer spending grew a bit less than expected last month. However, a regional purchasing managers' index came in better than expected and the averages have moved in a narrow range following the mixed data and a slew of earnings reports... ECONOMIC EVENTS: In the U.S., weekly unemployment applications jumped 38K to a seasonally adjusted 368K, versus expectations for a more modest rise to 350K. The Challenger job cuts report showed planned layoffs were down 24.4% from the same period a year ago. The Commerce Department said consumer spending rose 0.2% in December, which was slightly slower than the 0.4% increase in November, though income jumped 2.6% in December for the biggest monthly gain since December 2004. The Chicago Purchasing Manager’s report, which is available early to some market participants, came in at 55.6, beating an expected reading of 50.5... COMPANY NEWS: U.S. listed shares of Anheuser-Busch InBev (BUD) fell over 7% after the Justice Department sued to block the company‘s proposed $20.1B deal to buy control of Mexico's Grupo Modelo. Falling even further on the news were shares of Constellation Brands (STZ), which had agreed to purchase the remaining 50% interest in the Crown Imports joint venture that it runs with Grupo Modelo in conjunction with AB InBev completing its own acquisition of Modelo. Both AB InBev and Constellation said they were disappointed by and opposed the DOJ's action, but added that given the move they no longer see their transactions closing in Q1. Near noon, Constellation shares were down over 20%... Facebook (FB) was downgraded by at least five firms after its earnings and revenue beat expectations but the company also said it plans to invest heavily in its business in 2013. Shares, which were down sharply at the open, recovered throughout the morning to be down about 1% near noon... Qualcomm (QCOM) surged almost 5% and price targets on shares were raised around the Street following its Q1 results and increased guidance. Among other tech component makers that reported, Skyworks Solutions (SWKS) advanced over 13%, while Fusion-io (FIO) slid nearly 16%... MAJOR MOVERS: Among the notable gainers was WMS Industries (WMS), which rose 52% after agreeing to be acquired by Scientific Games (SGMS) for $26.00 per share in cash. Shares of Scientific Games also advanced over 11%. Other casino and gaming suppliers moved higher following the news, as Bally Technologies (BYI) rose nearly 5% and International Games (IGT) gained about 1.5%... Among the noteworthy losers was Celsion (CLSN), which plunged 81% after its Phase III HEAT study of ThermoDox did not meet its primary endpoint. Also lower were shares of Liquidity Services (LQDT), down 24%, and Elizabeth Arden (RDEN), which fell 14% after their earnings reports... INDICES: Near noon, the Dow was down 26.54, or 0.19%, to 13,883.88; the Nasdaq was up 0.40, or 0.01%, to 3,142.71; and the S&P 500 was down 2.80, or 0.19%, to 1,499.16.
News For BUD;STZ;FB;QCOM;SWKS;FIO;WMS;SGMS;BYI;IGT;CLSN;LQDT;RDEN 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 | 4 | 5 | all recent news | >>
November 6, 2014
17:17 EDTQCOMOn The Fly: Closing Wrap
Subscribe for More Information
16:56 EDTSWKSSkyworks sees Q1 EPS $1.18, consensus $1.08
Sees Q1 revenue $770M, consensus $737.68M. CFO Donald Palette said, “Based on broad customer demand and crisp operational execution, we are now scaling to more than a $3B revenue run-rate with annualized non-GAAP earnings per share approaching $5.00. Specifically, for the first fiscal quarter of 2015, we anticipate revenue to be up 52% year-over-year to $770M with further margin expansion yielding $1.18 of non-GAAP diluted earnings per share.”
16:54 EDTSWKSSkyworks reports Q4 EPS $1.12, consensus $1.08
Reports Q4 revenue $718.2M, consensus $718.07M. Reports Q4 non-GAAP operating margin expanded to 32.8%.
16:41 EDTIGTInternational Game reports adjusted Q4 EPS 37c, consensus 30c
Subscribe for More Information
16:00 EDTFBOptions Update; November 6, 2014
Subscribe for More Information
15:27 EDTSWKS, IGTNotable companies reporting after market close
Subscribe for More Information
13:04 EDTQCOMOn The Fly: Midday Wrap
Subscribe for More Information
13:04 EDTQCOMEarnings Preview: Analysts positive on NVIDIA ahead of Q3 earnings report
NVIDIA (NVDA) is expected to report third quarter earnings after the close on Thursday, November 6, with a conference call scheduled for 5:00 pm ET. NVIDIA is a semiconductor manufacturer that produces graphics chips used in personal computers as well as mobile processors used in cell phones and tablets. EXPECTATIONS: Analysts are looking for earnings per share of 29c on revenue of $1.2B. The consensus range is 27c-31c for EPS on revenue of $1.2B-$1.22B, according to First Call. In its last earnings report, NVIDIA said it expects Q3 revenue of $1.2B, plus or minus 2%, which was higher than analysts' consensus of $1.16B at the time. LAST QUARTER: On August 6, NVIDIA reported second quarter EPS of 30c, which beat the consensus forecast of 20c, on revenue of $1.1B, which matched analysts consensus of $1.1B. COMPANY NEWS: On August 26, NVIDIA, VMWare (VMW) and Google (GOOG) announced a collaboration to deliver high-performance virtual desktops and workstation-class graphic on Google Chromebooks. The partnership is anticipated to broaden the hardware options for high-performance virtual desktops. On September 4, NVIDIA announced that it filed complaints against Samsung (SSNLF) and Qualcomm (QCOM) at the International Trade Commission and in the U.S. District Court in Delaware, alleging that the companies were both infringing NVIDIA GPU patents covering technology including programmable shading, unified shaders and multithreaded parallel processing. The identified Samsung products included the Galaxy Note Edge, Galaxy Note 4, Galaxy S5, Galaxy Note 3 and Galaxy S4 mobile phones and the Galaxy Tab S, Galaxy Note Pro and Galaxy Tab 2 computer tablets. STREET RESEARCH: On August 8, Needham upgraded NVIDIA to Buy from Hold. The firm believed that the change in the company's strategy reduced its earnings volatility and raised its margins, while the stock's decline has created a good entry point. The firm also noted that the company reported better than expected results and provided stronger than expected guidance. NVIDIA announced that it had filed graphics processing units patent infringement lawsuits against both Samsung and Qualcomm, Stifel said on September 5 that the lawsuits could at a minimum cause other companies to conclude licensing deals with NVIDIA. The firm kept a $22 price target and Buy rating on NVIDIA. After NVIDIA (NVDA) filed lawsuits against Qualcomm (QCOM) and Samsung, JMP Securities noted that there was a good chance that NVIDIA would obtain a favorable ruling or settlement that is equal or greater to the $1.5B deal it cut with Intel (INTC). The firm thought that other companies, most notably Apple (AAPL), would launch talks with NVIDIA in the wake of the lawsuit. JMP Securities recommended buying NVIDIA ahead of upcoming Apple product refreshes and what it sees as accelerating growth trends for NVIDIA. The firm was upbeat about NVIDIA's new products and reiterated an Outperform rating. Pacific Crest upgraded NVIDIA to Sector Perform from Underperform on November 3. The firm expected the company's share gains in high end desktop GPU and AMD's (AMD) product delays to enable NVIDIA's results to meet or exceed consensus estimates in the near to medium term. PRICE ACTION: Since issuing preliminary earnings on August 6, shares of NVIDIA are up over 12.5%. During late-morning trading, shares of NVIDIA are down fractionally to $20.02.
12:04 EDTQCOMQualcomm plummets after results and guidance disappoint, FTC probe disclosed
Subscribe for More Information
10:40 EDTQCOMQualcomm tumbles after results, guidance, FTC investigation
Subscribe for More Information
10:39 EDTSGMSOptions with decreasing implied volatility
Options with decreasing implied volatility: ACHN GRPN ZU SGMS AFSI PNK SALE HLF CODE OWW
09:40 EDTQCOMActive equity options trading
Subscribe for More Information
09:36 EDTQCOMQualcomm downgraded to Neutral from Overweight at Atlantic Equities
Subscribe for More Information
09:11 EDTQCOMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tesla (TSLA), up 0.6%... CBS (CBS), up 2.3%... Whole Foods (WFM) up 8.4%... American Capital (ACAS), up 9.5%... Horizon Pharma (HZNP) up 6.8%... Kate Spade (KATE), up 10%. ALSO HIGHER: Planar Systems (PLNR), up 70%, upgraded at Needham following the company's Q4 results... Tableau (DATA), up 9.8%, upgraded at RBC Capital following the company's Q3 earnings report... Allergan (AGN), up 1% after disclosing in new regulatory filing that discussions between the company and another unnamed party regarding a potential merger transaction have continued and "may lead to negotiations.” DOWN AFTER EARNINGS: Qualcomm (QCOM), down 6.9%... Zillow (Z), down 6.7%... PhotoMedex (PHMD), down 17.3%... Kulicke & Soffa (KLIC), down 7%... BioScrip (BIOS), down 5.8%. ALSO LOWER: Solazyme (SZYM), down 47%, downgraded at RW Baird, Pacific Crest and Cowen following the company's Q3 report... Genworth (GNW), down 23%, downgraded at Compass Point following the company's Q3 results... Cornerstone OnDemand (CSOD), down 19%, downgraded at various firms including William Blair and FBR Capital following the company's Q3 report.
09:09 EDTQCOM, QCOMQualcomm risk/reward remains attractive, says CLSA
CLSA believes Qualcomm's risk/reward is still attractive, especially given cash returns, despite the messy quarter. The firm rates said shares are inexpensive and reiterates its Outperform rating with a $85 price target, down from $90.
08:04 EDTQCOMQualcomm should be bought on weakness, says Stifel
Subscribe for More Information
07:42 EDTQCOMQualcomm has limited risk, says Oppenheimer
After Qualcomm reported weaker than expected Q3 results and provided weaker than expected full-year guidance, Oppenheimer says the misses were due to multiple difficulties in China. But the firm believes that the stock is unlikely to fall much further, given what it sees as the company's strong technology foundation and ability to return significant amounts of funds to shareholders. The firm keeps an $84 price target and Outperform rating on the shares.
07:37 EDTQCOMQualcomm price target lowered to $80 from $89 at Brean Capital
Subscribe for More Information
07:28 EDTQCOMQualcomm litigation issues to persist, says William Blair
William Blair attributes Qualcomm's weaker than expected results to headwinds in China related to the NDRC litigation and Chinese handset vendors continued unwillingness to pay the company royalties as well as the continuing mix shift toward low-end smartphones. The firm expects the litigation to persist in the near term, but sees "several reasons to remain positive in the long run." It keeps an Outperform rating on Qualcomm, saying the November 19 analyst day could be a catalyst for the stock.
06:25 EDTBUDAnheuser-Busch to acquire 10 Barrel Brewing, terms not disclosed
Anheuser-Busch announced it has agreed to purchase 10 Barrel Brewing Company, located in Bend, Ore. In addition to the Bend brewery, the acquisition will include the company’s existing brewpubs in Bend and Boise, Idaho; and a Portland brewpub scheduled to open in early 2015. Anheuser-Busch’s purchase of 10 Barrel is expected to close by the end of 2014. Terms of the agreement were not disclosed. First Beverage Group acted as financial adviser to 10 Barrel, and Spencer Fane Britt & Browne provided legal counsel.
1 | 2 | 3 | 4 | 5 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use