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Stock Market & Financial Investment News

News For C;AAPL;GS;LNG From The Last 14 Days
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April 17, 2014
16:45 EDTC, GSMarket swings to gains in holiday-shortened week
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12:53 EDTGSOn The Fly: Midday Wrap
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10:16 EDTGSGoldman CFO says trajectory for merger activity 'appears good' right now
10:12 EDTGSGoldman Sachs fully-phased-in Basel 3 tier 1 common ratio 9.7%, CFO says
9.7% ratio is under advanced approach.
10:09 EDTGSGoldman Sachs CFO says no plans to adjust size of balance sheet
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09:59 EDTGSGoldman Sachs' Schwartz says no strategic plans for Sigma X dark pool
Goldman CFO Harvey Schwartz speaking on company's Q1 earnings call.
09:48 EDTGSGoldman Sachs CFO says confident in ability to comply with SLR rules
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09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GOOGL GOOG NFLX TSLA AMZN GOLG NOV AA IBM
07:52 EDTGSGoldman Sachs reports total capital $244.73B at March 31
As of March 31, total capital was $244.73B, consisting of $79.10B in total shareholders’ equity and $165.63B in unsecured long-term borrowings. Book value per common share was $154.69 and tangible book value per common share was $145.04, both approximately 1% higher compared with the end of 2013. Under the regulatory capital requirements applicable to bank holding companies, the firm’s Tier 1 capital ratio was 16.3% and the firm’s Common Equity Tier 1 ratio was 14.6% as of March 31. Level 3 assets were $41B as of March 31, compared with $40B as of December 31, 2013, and represented 4.5% of total assets. Total staff of 32,600 was down from 32,900 as of December 31, 2013.
07:48 EDTGSGoldman Sachs CEO Blankfein says 'generally pleased' with Q1 performance
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07:46 EDTGSGoldman Sachs Q1 Basel 1 tier 1 common equity ratio 14.6%
The firm’s global core excess liquidity was $175B as of March 31. The firm’s Tier 1 capital ratio was 16.3% and the firm’s Common Equity Tier 1 ratio was 14.6% as of March 31.
07:44 EDTGSGoldman Sachs reports Q1 EPS $4.02, consensus $3.49
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07:21 EDTAAPLApple April weekly volatility elevated at 38 into Q2
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06:55 EDTAAPLApple plans to launch song-ID feature for iOS software, Bloomberg says
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06:31 EDTC, GSBig banks boosting their business lending, WSJ reports
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06:17 EDTCCitigroup may have received mixed signals from Federal Reserve, WSJ says
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April 16, 2014
17:57 EDTAAPLYahoo seeks default search status for Apple products, Re/code says
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16:00 EDTC, AAPLOptions Update; April 16, 2014
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15:17 EDTGSNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include General Electric (GE), consensus 32c; Philip Morris (PM), consensus $1.16; Schlumberger (SLB), consensus $1.20; PepsiCo (PEP), consensus 75c; Union Pacific (UNP), consensus $2.37; UnitedHealth (UNH), consensus $1.09; Honeywell (HON), consensus $1.26; Goldman Sachs (GS), consensus $3.44; du Pont (DD), consensus $1.59; Morgan Stanley (MS), consensus 60c; Danaher (DHR), consensus 80c; BlackRock (BLK), consensus $4.14; Blackstone (BX), consensus 55c; Chipotle Mexican Grill (CMG), consensus $2.86; Mattel (MAT), consensus 9c; Snap-on (SNA), consensus $1.54; AutoNation (AN), consensus 74c.
14:12 EDTGSGoldman Sachs April 157 straddle priced for 2.5% move into Q1
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11:02 EDTAAPLApple slips lower, levels to watch
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09:36 EDTAAPLActive equity options trading on open
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08:46 EDTAAPLApple risk/reward looks positive into Q2 results, says Pacific Crest
Pacific Crest thinks that Apple's low valuation should prevent it from falling sharply, and it expects the company's Q2 iPhone sales to exceed expectations. The firm believes that iPhone 6 can enable the company to return to growth, and recommends buying the stock. .
08:35 EDTAAPLLiveDeal completes development of iOS mobile app
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07:51 EDTAAPLApple denied motion to dismiss e-books suit, Reuters says
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07:45 EDTAAPLApple earnings have more downside risk than upside risk, says Bernstein
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07:40 EDTAAPLGoogle Play Q1 downloads exceeded downloads from Apple store, App Annie says
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07:16 EDTGSGoldman Sachs volatility flat into Q1 and revenue outlook
Goldman Sachs April call option implied volatility is 39, July is at 21, October is at 20; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q1 results before the open on April 17.
06:52 EDTAAPLSamsung objects to Apple's patent claims in $2B court battle, Bloomberg says
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06:32 EDTGSGoldman Sachs tries to jump start stock-trading business amid concerns, WSJ says
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06:05 EDTLNGCheniere Energy price target raised to $74 from $67 at Deutsche Bank
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April 15, 2014
16:00 EDTAAPL, LNG, COptions Update; April 15, 2014
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14:20 EDTCCitigroup reports March credit loss 2.3% vs. 2.02% last month
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10:00 EDTCOn The Fly: Analyst Upgrade Summary
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09:35 EDTAAPL, CActive equity options trading on open
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08:07 EDTCCitigroup needs more progress to move higher, says Sterne Agee
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07:50 EDTLNGCheniere Energy May volatility elevated at 48
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07:46 EDTAAPLMonitor says Apple antitrust compliance off to 'promising start,' Reuters says
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06:08 EDTAAPLSamsung: Gains in smartphone market the result of strategy shift, WSJ reports
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05:50 EDTCCitigroup upgraded to Outperform from Market Perform at Bernstein
Bernstein upgraded Citigroup to Outperform following the bank's better than expected Q1 results and raised its price target for the stock to $57 from $52.
April 14, 2014
16:24 EDTCOn The Fly: Closing Wrap
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16:00 EDTLNG, C, AAPLOptions Update; April 14, 2014
iPath S&P 500 VIX Short-Term Futures down 32c to 44.41. Option volume leaders: AAPL C GILD TSLA LNG NQ BAC ZNGA according to Track Data.
12:26 EDTCOn The Fly: Midday Wrap
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11:59 EDTCStocks with call strike movement; C MA
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11:16 EDTCCitigroup says one employee terminated related to fraud found in Mexico
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11:09 EDTCCitigroup says committed to improving capital planning process
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10:39 EDTCCitigroup sees lowering consumer banking headcount below 145K by end year
The company noted its headcount in consumer banking stood at 149K in Q1 and it sees the headcount to be cut to below 145K by Q4 of this fiscal year. The company sees cutting its consumer banking card products to under 440 by Q4 and lowering its branch count to under 3,525 in Q4 from 3,601 in Q1. Information from slides for earnings conference call.
10:02 EDTCOn The Fly: Analyst Upgrade Summary
Acorda Therapeutics (ACOR) upgraded to Outperform from Market Perform at FBR Capital... Allegheny Technologies (ATI) upgraded to Neutral from Underperform at Sterne Agee... BP (BP) upgraded to Buy from Hold at Canaccord... Bloomin' Brands (BLMN) upgraded to Buy from Hold at Deutsche Bank... Boardwalk Pipeline (BWP) upgraded to Neutral from Underperform at BofA/Merrill... Boston Scientific (BSX) upgraded at BofA/Merrill... Charles Schwab (SCHW) upgraded to Buy from Neutral at UBS... Citigroup (C) upgraded to Hold from Sell at Rafferty Capital... Community Health (CYH) upgraded to Outperform from Perform at Oppenheimer... Eaton Vance (EV) upgraded to Neutral from Sell at Citigroup... Eli Lilly (LLY) upgraded to Hold from Underperform at Jefferies... F5 Networks (FFIV) upgraded to Buy from Hold at Stifel... HeartWare (HTWR) upgraded to Buy from Neutral at BTIG... Heartland Payment (HPY) upgraded to Hold from Sell at Stifel... Hyatt Hotels (H) upgraded to Outperform from Market Perform at FBR Capital... MasterCard (MA) upgraded to Outperform from Neutral at RW Baird... McDermott (MDR) upgraded to Neutral from Underweight at HSBC... Palo Alto (PANW) upgraded to Overweight at Stephens... PetroChina (PTR) upgraded to Neutral from Underperform at Credit Suisse... Seagate (STX) upgraded to Buy from Hold at Argus... Sensata (ST) upgraded to Buy from Neutral at Citigroup... Stryker (SYK) upgraded to Neutral from Reduce at SunTrust... TD Ameritrade (AMTD) upgraded to Buy from Neutral at UBS... TTM Technologies (TTMI) upgraded to Buy from Hold at Stifel... Transocean (RIG) upgraded to Hold from Sell at Deutsche Bank... VMware (VMW) upgraded to Outperform from Underperform at CLSA... Visa (V) upgraded to Outperform from Neutral at RW Baird... Yahoo (YHOO) upgraded to Buy from Neutral at SunTrust... Zimmer (ZMH) upgraded to Neutral from Reduce at SunTrust... bebe stores (BEBE) upgraded to Buy from Neutral at Janney Capital.
09:38 EDTCCitigroup rallies after results, levels to watch
Shares are up over 4.1% at time of writing to $47.59 following better than expected earnings. At that price next resistance is at $48.36, a pivot high. Support is at $47.12. Rafferty Capital upgraded the stock to Hold from Sell.
09:36 EDTAAPL, CActive equity options trading on open
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08:59 EDTCOn The Fly: Pre-market Movers
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08:48 EDTCCitigroup upgraded to Hold from Sell at Rafferty Capital
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08:31 EDTGSBlackstone and Goldman Sachs to acquire Ipreo from KKR
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08:10 EDTCCitigroup shares up 3% in pre-market trading after Q1 report
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08:09 EDTCCitigroup reports Q1 net interest margin rose to 2.9%
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08:05 EDTCCitigroup reports Q1 loan loss reserve release of $673M
Reports Q1 net credit losses of $2.4B, down 15% versus prior year period. CVA/DVA was $7M, or $4M after-tax, in the first quarter, compared to negative $319M, or negative $198M after-tax, in the prior year period. Q1 included a $210M tax charge related to corporate tax reforms enacted in two states. These reforms lowered marginal tax rates, resulting in a reduction in Citigroup’s state deferred tax assets. CEO Michael Corbat said, “Despite a quarter that was difficult for our company, we delivered strong results. Both our consumer and institutional businesses performed well and we grew both loans and deposits while holding the line on our expenses. We reduced our deferred tax assets more than any other quarter since the crisis and drove Citi Holdings closer to break even. $4B in net income helped generate $6B in regulatory capital during the quarter and increased our estimated Tier 1 Common ratio to 10.4% on a Basel III basis. Very cognizant of our shareholders desire to see a sustainable return of capital, we are engaged with the Fed to better understand their expectations regarding the CCAR process. We are committed to bringing our capital planning process to the highest possible standards, befitting an institution of our global reach. I will dedicate whatever resources and make whatever changes necessary to achieve this critical goal."
08:02 EDTCCitigroup reports estimates Basel III Tier 1 common ratio of 10.4%
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08:00 EDTCCitigroup reports Q1 EPS ex CVA/DVA $1.30, consensus $1.14
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07:54 EDTAAPLApple in talks for $100 iPhone 6 price increase, says Jefferies
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07:20 EDTGSKKR to sell Ipreo to Blackstone, Goldman Sachs for $975M, Financial Times says
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07:10 EDTGSNBG picks Goldman, Morgan Stanley to manage share offering, Reuters says
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07:06 EDTAAPLU.S. Geospatial Intelligence Foundation to hold a symposium
GEOINT 2013 Symposium, originally scheduled for October 2013, is being held in Tampa, Florida on April 14-17.
06:59 EDTCCitigroup says client information leaked at Korean credit units, Bloomberg says
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06:50 EDTAAPLChecks show Apple not developing basebands, says Deutsche Bank
Deutsche Bank says that despite recent press reports, its industry checks show that Apple (AAPL) is not developing its own baseband chipset. Deutsche believes Apple likely seeking better integration with existing baseband chipsets or possibly developing its own internal WiFi chipset. The firm thinks Qualcomm's (QCOM) long term prospects remain intact and it reiterates a Buy rating on the stock with an $86 price target.
06:40 EDTAAPLNo lines for Samsung's Galaxy S5 but carriers say demand healthy, Re/code says
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06:11 EDTAAPLIntel works with HzO to enhance water resistance in products, DigiTimes says
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April 13, 2014
19:07 EDTCCitigroup to eliminate another 200 to 300 jobs, WSJ says
Citigroup has eliminated another 200 to 300 jobs including Steve Prince, the younger brother of former CEO Charles Prince, says the Wall Street Journal. According to the Wall Street Journal report, a Citigroup spokeswoman said the bank is continuing to "tightly manage expenses, making targeted head count reductions in light of current market conditions." Reference Link
April 11, 2014
15:44 EDTGSTyson, Post final contenders to buy Michael Foods, Reuters says
Michael Foods, the egg and dairy products maker that has been put up for sale by Goldman Sachs' (GS) private equity arm, is evaluating binding bids from Tyson (TSN) and Post (POST) and is near a deal to be sold to one of the two for close to $2.5B, according to Reuters, citing people familiar with the matter. Reference Link
15:20 EDTCNotable companies reporting before Monday's open
Notable companies reporting before Monday's open, with earnings consensus, include Citigroup (C), consensus $1.14, and M&T Bank (MTB), consensus $1.61.
12:12 EDTAAPLApple April weekly volatility elevated at 34 into Q2
Apple 4/25/14 weekly call option implied volatility is at 34, May is at 25, June is at 23, October at 21; compared to its 26-week average of 26 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on April 23.
10:25 EDTCCitigroup to host conference call
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10:19 EDTAAPLApple drops to session lows, levels to watch
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09:37 EDTC, AAPLActive equity options trading on open
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08:02 EDTAAPLApple Q1 should be in line but slight risk to Q2, says Cowen
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07:37 EDTC, GSGoldman, Morgan, Citi probed by FINRA over bond deals, WSJ says
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07:09 EDTCLi & Fung collaborates with Citigroup on brand unit spinoff, Bloomberg says
Li & Fung (LFUGF)) is said to be collaborating with Citigroup (C) to spin off its brands division, which is valued at nearly $2B, according to Bloomberg, citing people with knowledge of the matter. The company's brand unit sells clothing and toys to retailers such as Wal-Mart (WMT) and Kohl's (KSS). Reference Link
07:03 EDTCCitigroup volatility increases into Q1and capital outlook
Citigroup April call option implied volatility is at 43, May is at 27, June is at 25; compared to its 26-week average of 25 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 14.
06:47 EDTAAPLSamsung ups S5 incentives to fend off rivals, Bloomberg says
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06:46 EDTAAPLDocuments: Samsung misled investors about Galaxy tablet sales, Fotune says
According to documents revealed in the Samsung (SSNLF)-Apple (AAPL) lawsuit, Samsung misled the public about how many tablets it sold in 2011, Fortune reports. Strategy Analytics told the world Samsung sold 2M Galaxy Tablets in six weeks, when "it took Samsung all of 2011 to sell half that many." Reference Link
06:28 EDTAAPLApple: iOS, OSX not affected by Heartbleed flaw, Re/code reports
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06:20 EDTCCitigroup unit in California facing DOJ probe, WSJ reports
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06:05 EDTAAPLReport: Apple may offer high-res iTunes tracks in 2 months, Apple Insider says
Apple may plan to offer high-resolution 24-bit tracks on iTunes some time in the next few months, reports Apple Insider. Blogger Robert Hutton, citing an unnamed source, said Apple will charge an additional dollar for the high-resolution tracks. Reference Link
April 10, 2014
16:00 EDTC, AAPLOptions Update; April 10, 2014
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10:00 EDTAAPLOn The Fly: Analyst Initiation Summary
Apple (AAPL) initiated with a Buy at Deutsche Bank... Crocs (CROX) initiated with a Buy at Buckingham... Deckers Outdoor (DECK) initiated with a Buy at Buckingham... EMC (EMC) initiated with a Buy at Deutsche Bank... HP (HPQ) initiated with a Buy at Deutsche Bank... IBM (IBM) initiated with a Hold at Deutsche Bank... NeoPhotonics (NPTN) coverage resumed with a Market Perform at Raymond James... NetApp (NTAP) initiated with a Hold at Deutsche Bank... Nutrisystem (NTRI) initiated with a Buy at B. Riley... Questar (STR) initiated with an Underperform at BofA/Merrill... S&T Bancorp (STBA) initiated with an Outperform at Raymond James... STB Systems Inc (STBI) initiated with an Outperform at Raymond James... Skechers (SKX) initiated with an Underperform at Buckingham... Steven Madden (SHOO) initiated with a Buy at Buckingham... UGI Corporation (UGI) initiated with a Buy at BofA/Merrill... Web.com (WWWW) initiated with a Neutral at Buckingham... Ally Financial (ALLY) initiated with a Buy at BTIG... Visteon (VC) initiated with a Buy at Citigroup... Greatbatch (GB) initiated with a Buy at KeyBanc... Steris (STE) initiated with a Buy at KeyBanc... Cooper Companies (COO) initiated with a Hold at KeyBanc... Hill-Rom (HRC) initiated with a Hold at KeyBanc... Invacare (IVC) initiated with a Hold at KeyBanc... Teleflex (TFX) initiated with a Hold at KeyBanc... Provident Financial (PROV) initiated with a Market Perform at Keefe Bruyette... UMH Properties (UMH) initiated with a Hold at Wunderlich.
09:37 EDTC, AAPLActive equity options trading on open
Active equity options trading on open according to Track Data: SIRI RAD AAPL AMZN AA FB TSLA MRK CVX C
08:22 EDTAAPLApple seen offering iWatches priced as high as 'thousands,' AppleInsider says
KGI analyst Ming-Chi Kuo, who has a proven track record of predicting about Apple hardware, predicts that one of the major differences between Apple's smartwatch and those from rivals will be that its casing and band will come in a variety of materials and that luxury iWatches will carry a price tag of "several thousand dollars," reported AppleInsider. Other features expected by Kuo for the device, including biometrics, a flexible AMOLED display with sapphire cover lens and NFC, the report added. Reference Link
08:15 EDTGSGoldman COO says company committed to Brazil operations, Reuters says
Goldman Sachs COO Gary Cohn asserted that the company is committed to retaining its investment-banking operations in Brazil as part of its world-wide footprint, according to Reuters, citing comments from Cohn. Reference Link
07:55 EDTGSGoldman joined by RBC in suing clients after Singapore crash, Bloomberg says
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07:39 EDTAAPLApple Chief Designer gains more say over software, Bloomberg says
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07:24 EDTAAPLApple may release 12" Retina MacBook Air, low price iMac in 2014, MacRumors says
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06:48 EDTAAPLApple initiated with a Buy at Deutsche Bank
Deutsche Bank believes the iPhone and iPad offer good growth for Apple with upside coming from the potential for a larger screen sized phone. The firm initiated the stock with a Buy rating and $650 price target.
06:41 EDTAAPLApple confirms Christie departure, FT reports
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06:35 EDTGS, CMobile banking presents opportunity and risks for banks, WSJ reports
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April 9, 2014
17:26 EDTAAPLGartner says worldwide PC shipments in Q1 fell 1.7%
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16:00 EDTAAPLOptions Update; April 9, 2014
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15:56 EDTAAPLApple interface head rumored to be exiting, AppleInsider says
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15:21 EDTAAPLApple weighing 'dramatic' overhaul of iTunes store, Billboard says
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13:38 EDTLNGHouse panel backs bill to expedite gas exports, The Hill says
A House subcommittee today approved a bill that would seek to expedite natural gas exports to U.S. allies, according to The Hill. Companies that are looking to export natural gas from the U.S. include Cheniere Energy (LNG), Sempra (SRE), Dominion (D), BG Group (BRGYY), and Southern Union, which is jointly owned by Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP). Reference Link
10:39 EDTAAPLJudge says certain WiLAN patent claims are valid in litigation vs. Apple
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10:39 EDTAAPLLogitech has risk of increasing competition from Apple, says UBS
UBS notes that Apple (AAPL) filed a patent with the USPTO for an electronic device/tablet cover that seems to include a keyboard. UBS believes Apple could introduce its own branded keyboard cover, and other branded peripherals, in order to grab market share from its highly loyal consumer base. The analyst believes competition for Neutral rated Logitech (LOGI) will accelerate, significantly impacting growth prospects.
09:36 EDTAAPLActive equity options trading on open
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08:24 EDTAAPLGoogle, Apple have considered acquiring Square, Re/code reports
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07:54 EDTAAPLSamsung, Apple pushed to make high-end phones less costly, Reuters says
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07:28 EDTAAPLAmazon looking to court game developers for Fire TV, NY Post reports
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07:18 EDTCLevy Economics Institute to hold a conference
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06:51 EDTGSGoldman, Warburg move forward in China Huarong sale, Reuters says
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06:35 EDTC, GSRegulators increase leverage ratio requirement for large banks, NY Times says
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06:27 EDTC, GSBig banks must add capital to comply with new rules, WSJ reports
A of January 1, 2018, the U.S.'s eight largest banks -- including Citigroup (C), JPMorgan (JPM) and Goldman Sachs (GS) -- must add up to $68B in extra capital to comply with a new rule intended to help firms weather losses during periods of market stress, the Wall Street Journal. The banks will be required to maintain well above the minimum levels of capital held against assets on their books. Banks must report the new levels next year. Reference Link
06:18 EDTAAPLApple seeks $2.2B in damages from Samsung in patent infringement, WSJ says
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06:18 EDTCEgan-Jones, Glass Lewis oppose Citigroup's pay proposal, WSJ reports
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06:15 EDTAAPLFlexible PCB samples delivered for Apple iWatch validation, DigiTimes says
Flexible PCB suppliers have reportedly delivered FPCB samples for use in Apple's iWatch devices for validation, reports DigiTimes. According to industry sources, Apple is expected to unveil the iWatch wearable devices in September. Reference Link
April 8, 2014
18:56 EDTGSOn The Fly: After Hours Movers
NOTABLE: General Motors (GM) was fined by the National Highway Traffic Safety Administration for failing to respond to the agency's inquiry into the company's recall of faulty ignition switches in a timely manner... According to a report by The Wall Street Journal, Goldman Sachs (GS) executives have broached the subject of closing its dark pool trading operation, Sigma X. HIGHER: Constant Contact (CTCT), up 13% after giving a preliminary first quarter revenue outlook that beat estimates and raising its fiscal 2014 revenue guidance... Alcoa (AA), up 2.5% after reporting adjusted profit that beat estimates on revenue that missed expectations. LOWER: Intuitive Surgical (ISRG), down 9.5% after giving a first quarter revenue outlook that widely missed expectations and saying it will take a $67M charge in the quarter related to legal settlements.
18:29 EDTGSGoldman Sachs considers shutting down dark pool Sigma X, WSJ reports
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16:01 EDTAAPL, CApple Netflix Citigroup Tesla Banco Santander Alcoa
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12:55 EDTAAPLComcast, TWC filing reference development of Apple TV box, 9to5Mac says
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11:25 EDTAAPL3D Systems announces availability of Sense 3D scanner for Mac
3D Systems (DDD) announced earlier the immediate availability of the Sense 3D scanner for Apple's (AAPL) Mac and feature upgrades available with Sense software V1.1. The Sense is the first 3D scanner designed for the consumer and optimized for 3D printing. It is priced at $399.
09:35 EDTC, AAPLActive equity options trading on open
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09:04 EDTAAPLAmazon Instant Video says video streams on Prime Instant Video tripled y/y
Amazon Instant Videoannounced that video streams on Prime Instant Video nearly tripled year over year. According to a report from Qwilt, which tracks growth in online video usage, Amazon (AMZN) has now passed both Apple (AAPL) and Hulu (NWSA, DIS, CMCSA) in streaming video usage.
08:08 EDTAAPLCost to Apple, Google, Intel, of 'no-poaching' deal may be high, DealBook says
Some of the of the biggest names in tech, including Apple (AAPL), Google (GOOG), Intel (INTC)and Adobe (ADBE), are at the center of a class-action suit that seeks $9B as compensation for employees who contend the tech giants colluded to prevent their employees from being hired at rivals, reported The New York Times' DealBook. Reference Link
08:04 EDTAAPLiAnywhere could boost Apple earnings by over 10%, says JPMorgan
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07:26 EDTLNGCheniere Energy risk/reward remains positive, says Morgan Stanley
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06:46 EDTGSGoldman expects Orban risk as Hungary bonds suffer, Bloomberg says
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06:41 EDTLNGU.S. can do little to get gas to Europe in short-term, NY Times says
Although U.S. politicians are talking about exporting gas to Europe to reduce the continent's dependency on Russia, America can export little gas to Europe in the short-term, according to The New York Times. Moreover, a facility being built by Cheniere Energy (LNG) is the only plant that has received all of the regulatory approvals necessary to export natural gas, and in 2017 it will only be able to handle one-sixth of the total amount of gas exported by Russia to Europe, the newspaper added. Companies that are looking to export natural gas from the U.S. other than Cheniere include Sempra (SRE), Dominion (D), BG Group (BRGYY), and Southern Union, which is jointly owned by Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP). Gazprom (OGZPY) is Russia's largest natural gas exporter. Reference Link
06:41 EDTCCitigroup plans to close one third of Korea branches, Reuters says
Citigroup announced that it is planning to close nearly one third of its Korea branches, which makes it the third global bank to reduce its presence in the country in the last year due to increasing expenses and intense competition, according to Reuters, citing a statement from the bank. Reference Link
06:24 EDTAAPLApple may develop baseband chpis for iPhones inhouse, DigiTimes says
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06:24 EDTCCitigroup may miss return-on-tangible-common-equity goal, WSJ reports
According to sources, Citigroup may miss a its 2015 target for return-on-tangible-common-equity after the Federal Reserve last month rejected the bank's capital plan, the Wall Street Journal reports. The Fed denied Citigroup's proposal to boost its dividend and increase stock buybacks on March 26, making it unlikely Citigroup can meet this key profitability target. Reference Link
06:20 EDTAAPLApple may release iWatch in Q3, DigiTimes reports
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06:07 EDTAAPLMicrosoft investing in 'invisible user interface' technology, WSJ reports
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April 7, 2014
19:57 EDTC, GSFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
17:16 EDTCCitigroup to resolve certain private-label securitization repurchase claims
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16:01 EDTAAPL, COptions Update; April 7, 2014
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14:06 EDTAAPLApple slips to lows of the day, levels to watch
Shares were last at $522.56, just off the session low. At current price, next support is at $517.35. Resistance is at $527.67.
10:16 EDTLNGCheniere, Endesa sign 20-year LNG sale, purchase agreement
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10:00 EDTCOn The Fly: Analyst Upgrade Summary
Agios Pharmaceuticals (AGIO) upgraded to Overweight from Neutral at JPMorgan... Alcoa (AA) upgraded to Hold from Sell at Deutsche Bank... Align Technology (ALGN) upgraded to Outperform from Market Perform at Barrington... Analog Devices (ADI) upgraded to Neutral from Sell at Goldman... B&G Foods (BGS) upgraded to Outperform from Sector Perform at RBC Capital... Citigroup (C) upgraded to Neutral from Underweight at HSBC... Intel (INTC) upgraded to Outperform from Sector Perform at Pacific Crest... JetBlue (JBLU) upgraded to Neutral from Sell at Goldman... Kindred Healthcare (KND) upgraded to Outperform from Sector Perform at RBC Capital... Lennox (LII) upgraded to Outperform from Market Perform at Wells Fargo... Newmont Mining (NEM) upgraded to Hold from Sell at Deutsche Bank... PBF Energy (PBF) upgraded to Buy from Neutral at Citigroup... Renasant (RNST) upgraded to Outperform from Market Perform at Raymond James... Select Medical (SEM) upgraded to Outperform from Sector Perform at RBC Capital... Ultra Petroleum (UPL) upgraded to Outperform from Market Perform at Raymond James... Under Armour (UA) upgraded to Buy from Neutral at Sterne Agee... Hercules Technology (HTGC) upgraded to Buy from Hold at Sandler ONeill... Standard Pacific (SPF) upgraded to Outperform from Market Perform at Raymond James... Yelp (YELP) upgraded to Outperform from Perform at Oppenheimer... Netflix (NFLX) upgraded to Outperform from Perform at Oppenheimer... Pandora (P) upgraded to Outperform from Neutral at Wedbush.
09:34 EDTAAPLActive equity options trading on open
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08:45 EDTAAPLInvenSense price target raised to $27 from $20 at Pacific Crest
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07:51 EDTAAPLApple sent iTV panel samples from Korean display maker, Korea Herald says
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07:37 EDTAAPLApple considered dumping long-time ad agency, WSJ reports
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07:16 EDTAAPLRetailers muscle into competitive mobile payment market, Reuters says
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06:58 EDTCDark markets could cause more harm than high-frequency trading, Reuters says
After a book by financial author Michael Lewis sparked worries that high-speed traders have been rigging the U.S. stock market, former regulators and academics say a more serious threat to investors could be the increasing amount of trading that happens outside of exchanges, reported Reuters. Top internalizers include units of KCG Holdings (KCG), Citadel, UBS (UBS), and Citigroup (C). Dark pool operators include Credit Suisse (CS) and Morgan Stanley (MS). In an attempt to earn back some of the retail orders, exchanges such as IntercontinentalExchange Group's (ICE) New York Stock Exchange, Nasdaq (NDAQ), and BATS Global Markets, have allowed brokerages to place dark pool-style orders on their platforms, with the trade hidden until after it is executed. Reference Link
06:36 EDTAAPLApple's sales force worried about iPhone outlook, Re/code reports
Apple's (AAPL) sales force has been worried about weakness in the iPhone's market share, amid strong competition from Google's (GOOG) Android operating system, a document presented in a court case showed, Re/code reported on Friday. According to the internal Apple document, the only portions of the smartphone market showing growth were large devices costing more than $300 or devices that cost less than $300, the website stated. Reference Link
06:28 EDTGSGoldman sees opportunity to slice China junk debt after gains, Bloomberg says
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06:05 EDTCCitigroup upgraded to Neutral from Underweight at HSBC
HSBC upgraded Citigroup to Neutral citing the recent underperformance of shares. The firm raised its price target for the stock to $51 from $48.
April 6, 2014
17:48 EDTAAPLGoogle set to announce Android TV, The Verge says
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April 4, 2014
16:00 EDTAAPL, C, LNGOptions Update; April 4, 2014
iPath S&P 500 VIX Short-Term Futures up 89c to 41.88. Option volume leaders: AAPL C P NFLX LNG BAC INTC TSLA TWTR according to Track Data.
12:16 EDTGSGoldman CEO Blankfein awarded raise for 2013, WSJ says
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09:49 EDTLNGCheniere Energy close to 20-year supply deal with Enel, Reuters says
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09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TSLA MU GNK AMZN FB GILD MA NFLX
08:18 EDTAAPLApple June quarter results likely to miss expectations, says BMO Capital
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07:27 EDTGSMorgan Stanley pushes back at HFT accusations, FT says
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06:14 EDTAAPLApple acquires Novauris, terms not disclosed, Re/code reports
Apple has confirmed that it has acquired Novauris Technologies, a speech technology company, Re/code reports. Reference Link
April 3, 2014
17:36 EDTCCitigroup's Corbat enlists McQuade to lead the CCAR process over next year
In a regulatory filing, Citigroup disclosed that on April 3, it was announced that, at the request of Michael Corbat, the CEO of Citigroup, Eugene M. McQuade, the outgoing CEO of Citibank, will postpone his retirement and lead the Comprehensive Capital Analysis and Review, CCAR, process for Citi over the next year. McQuade will become Vice Chairman of Citi, remain on the Citibank board of directors and report directly to Citi’s CEO. Due to the importance of this effort and the substantial time commitment required by McQuade’s new role, Citi’s board of directors, in conjunction with Mr. McQuade’s consent, withdrew his nomination to serve on Citi's board of directors.
16:00 EDTC, AAPLOptions Update; April 3, 2014
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12:10 EDTCOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory, with the Dow notching a new all-time high, but had slid into negative ground at midday. The Nasdaq is the biggest loser, as it is down more than 0.6%, while the Dow and Nasdaq are just slightly below the flat line. ECONOMIC EVENTS: In the U.S., initial jobless claims rose to 326K in the week ended March 29, versus the expected 319K claims. The trade deficit widened to $42.3B in February from a revised $39.3B deficit in January. ISM's non-manufacturing PMI rose 1.5 points to 53.1 in March, though that was a bit below the 53.5 forecast of economists. In Europe, the ECB maintained its current rates despite the ongoing debate over disinflationary forces posing an increasing risk. In Asia, China's State Council announced a stimulus package for new railways and subways, low-income housing and tax breaks for small business, but most of the measures were part of the government's previously communicated annual economic work plan. COMPANY NEWS: Shares of Barnes & Noble (BKS) are declining after Liberty Media (LMCA) announced a deal to reduce its stake in the bookseller. Liberty said it has sold the majority of its shares to institutional buyers and will retain approximately 10% of its initial investment, which has been reported to equate to a roughly 2% stake in Barnes & Noble. B&N Chairman Leonard Riggio said that Liberty’s reduced ownership gives the company greater flexibility to pursue various strategic options, but shares of B&N slid 13% following the announcement... Citigroup (C) shares fell almost 2% after The New York Times said the federal government has started a criminal investigation into alleged fraud involving Citi's Banamex unit in Mexico. Also of note, research firm Sterne Agee downgraded the stock to Neutral, citing the Fed's refusal to approve the bank's capital plan, along with its slowing earnings growth and lack of catalysts, as reasons for the downgrade. MAJOR MOVERS: Among the notable gainers was Amyris (AMRS), which rose 8% after announcing that it is entering into a strain engineering research and development agreement with chemical giant BASF (BASFY). Also higher was chemical, paint, and coating maker RPM (RPM), which gained 4% and hit a fresh 52-week high earlier in the session after the company raised its fiscal 2014 profit outlook. Among the noteworthy losers was Liquidity Services (LQDT), which slid another 12% after the company confirmed it's withdrawal from auction bidding for a U.S. Department of Defense contract and said it will need to reset its adjusted earnings expectations. Also lower were shares of weight-loss drug maker VIVUS (VVUS), which fell nearly 8% following a downgrade to Underweight at Piper Jaffray. INDEXES: Near midday, the Dow was down 16.31, or 0.1%, to 16,556.69, the Nasdaq was down 26.65, or 0.62%, to 4,249.81, and the S&P 500 was down 3.48, or 0.18%, to 1,887.42.
10:00 EDTLNG, COn The Fly: Analyst Downgrade Summary
BB&T (BBT) downgraded to Outperform from Strong Buy at Raymond James... Broadcom (BRCM) downgraded to Neutral from Overweight at Piper Jaffray... CF Industries (CF) downgraded to Neutral from Buy at Citigroup... CSX (CSX) downgraded to Equalweight from Overweight at Barclays... Cheniere Energy (LNG) downgraded to Neutral from Outperform at Credit Suisse... Citigroup (C) downgraded to Neutral from Buy at Sterne Agee... Deutsche Bank (DB) downgraded to Neutral from Overweight at JPMorgan... G&K Services (GK) downgraded to Neutral from Outperform at RW Baird... Marcus (MCS) downgraded to Neutral from Buy at B. Riley... National Retail Properties (NNN) downgraded to Sell from Neutral at UBS... Norfolk Southern (NSC) downgraded to Neutral from Overweight at Atlantic Equities... Orion Energy (OESX) downgraded to Hold from Buy at Ascendiant... VIVUS (VVUS) downgraded to Underweight from Neutral at Piper Jaffray... Liquidity Services (LQDT) downgraded to Neutral from Outperform at RW Baird... Shaw Communications (SJR) downgraded to Sector Performer from Outperformer at CIBC... USG (USG) downgraded to Neutral from Outperform at Macquarie... Level 3 (LVLT) downgraded to Hold from Buy at Gabelli... U.S. Bancorp (USB) downgraded to Neutral from Conviction Buy at Goldman... Extra Space Storage (EXR) downgraded to Buy from Conviction Buy at Goldman... First Republic Bank (FRC) downgraded to Buy from Conviction Buy at Goldman... TELUS (TU) downgraded to Neutral from Outperform at Macquarie.
09:37 EDTC, AAPLActive equity options trading on open
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09:30 EDTAAPLApple, Pfizer others create 'go slow' patent lobby group, Reuters says
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08:10 EDTCCitigroup downgraded at Sterne Agee
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07:40 EDTAAPLApple bulls bet new products to prompt stock revival, Bloomberg says
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07:28 EDTGSSinopec said to select Goldman for $30B unit sale, Bloomberg says
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07:19 EDTCCitigroup downgraded at Sterne Agee
As previously reported, Sterne Agee downgraded Citigroup to Neutral from Buy. The firm downgraded shares citing the Fed's concerns in the recent capital review, increasing regulatory risk, slowing earnings growth, and lack of meaningful catalysts to drive shares higher. Price target lowered to $52 from $60.
06:24 EDTCU.S. launches criminal probe of Citigroup's Mexican unit, NY Times reports
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06:23 EDTCCitigroup downgraded to Neutral from Buy at Sterne Agee
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