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Stock Market & Financial Investment News

News For C;AAPL;T;AKAM From The Last 14 Days
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October 15, 2014
06:39 EDTAKAMAkamai warns of UPnP devices used in DDoS attacks
Akamai Technologies released, through the company's Prolexic Security Engineering & Response Team, or PLXsert, a new cybersecurity threat advisory. The advisory alerts the security community, device vendors, Internet service providers and enterprises to the risk of massive distributed denial of service, or DDoS, attacks involving Universal Plug and Play, or UPnP, devices. PLXsert has observed the use of a new reflection and amplification DDoS attack that deliberately misuses communications protocols that come enabled on millions of home and office devices, including routers, media servers, web cams, smart TVs and printers. The protocols allow devices to discover each other on a network, establish communication and coordinate activities. DDoS attackers have been abusing these protocols on Internet-exposed devices to launch attacks that generate floods of traffic and cause website and network outages at enterprise targets.
06:37 EDTAAPLGT Advanced executive sold shares before bankruptcy, WSJ says
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06:34 EDTAAPLIHS: Apple, Samsung set to drive fingerprint sensor market, DigiTimes says
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06:32 EDTAAPLTablet supply chains expect lagging orders in Q4, DigiTimes reports
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06:28 EDTAAPLTSMC lands CPU orders for Apple's next-generation iPad, DigiTimes reports
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06:27 EDTCCitigroup pushing Mexican unit chairman to retire, NY Times says
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06:16 EDTAAPLApple asks permission to lodge objections to GT bankrupcy in secret, Re/code says
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October 14, 2014
16:22 EDTAAPL, COn The Fly: Closing Wrap
The Wall Street averages were mixed after three of the U.S.'s largest banks reported on their quarterly results and Germany slashed its economic forecasts for this year and next. Following the mostly solid earnings reports from the banks and Dow member Johnson & Johnson (JNJ) investors appeared to breathe a sigh of relief and sent the averages higher in early trading. With oil prices falling almost 5% and settling at a recent low, the averages pared their gains and struggled in positive ground. Another late day slide ended with the averages mixed, as the Nasdaq led and the Dow lagged. ECONOMIC EVENTS: In the U.S., the International Energy Agency said in its monthly oil market report that world oil demand growth would be weaker than previously expected. Afterward, WTI crude oil futures fell 4.6% at $81.84, marking their biggest percentage drop since late 2012 and the lowest settlement for the benchmark in over two years. The National Federation of Independent Business' small business optimism index came in at 95.3, versus the consensus expectation for a 95.8 reading. In Europe, Germany's government cut its forecasts for gross domestic product growth to 1.2% in 2014 and 1.3% next year from its prior view of 1.8% growth this year and 2% in 2015. COMPANY NEWS: The first of America's big banks issued their quarterly reports, with JPMorgan's (JPM) headline earnings per share coming in below analystsí consensus estimate, Wells Fargo (WFC) reporting in-line earnings and improved credit quality and Citigroup (C) posting better than expected adjusted third quarter profit. Citi, which also announced plans to pull back from retail banking in eleven countries and said it will disband a legacy Banamex unit after an investigation uncovered illegal conduct, saw its stock fare the best among the three, rising $1.57, or 3.15%, to $51.47... Another Dow member, Johnson & Johnson, reported better than expected profits and revenues and raised its FY14 EPS outlook, but its stock slid $2.11, or 2.13%, to $97.01. MAJOR MOVERS: Among the notable gainers was Domino's Pizza (DPZ), which rose $8.58, or 11.33%, to $84.30 after the pizza chain owner and franchisor reported better than expected third quarter earnings per share and revenue. Also higher was Skyworks (SWKS), which advanced $3.59, or 7.92%, to $48.91 after the supplier of chips to Apple (AAPL) raised its fourth quarter earnings per share outlook and revenue guidance. Among the noteworthy losers was Exactech (EXAC), which dropped $4.09, or 16.63%, to $20.50 after the company warned its Q3 income and revenue will likely miss its prior guidance. Also lower were shares of Gilead (GILD), which fell $4.26, or 4.2%, to $97.18 amid a number of developments. Competitor Johnson & Johnson said it would seek to make its own hepatitis C treatment accessible and "competitive," which some may have read as an indication of a potential price cut, and Ireland said it plans to close its "Irish Double" tax loophole, which currently benefits Gilead. INDEXES: The Dow slipped 5.88, or 0.04%, to 16,315.19, the Nasdaq rose 13.52, or 0.32%, to 4,227.17, and the S&P 500 added 2.96, or 0.16%, to 1,877.70.
16:00 EDTAAPL, COptions Update; October 14, 2014
iPath S&P 500 VIX Short-Term Futures down 40c to 39.11. Option volume leaders: AAPL TSLA TWTR AMZN GILD C JNJ AA NFLX PBR according to Track Data.
14:02 EDTAAPLApple moves back to lows of the day, levels to watch
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13:18 EDTAAPLSkyworks guidance should be well above consensus, says Craig-Hallum
After Skyworks pre-announced September quarter upside, Craig-Hallum says it expects the company's revenue outlook for the December quarter to be well above consensus. The firm believes Skyworks is benefiting from record Apple (AAPL) iPhone sales. It estimates Skyworks has around $5.50 worth of content in the iPhone 6/6+, up from $4.80 in the iPhone 5S/5C. Craig-Hallum reiterates a Buy rating on the stock with a $62 price target.
12:20 EDTCOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after three of the nation's largest banks reported on their results in the most recent quarter of the year. The market began the session in positive territory but the move seemed tenuous and the averages were almost back in negative ground within a half hour of the opening bell. As the morning progressed and the bears were unable to gain control, the buyers emerged and pushed the Dow to a triple digit gain and the Nasdaq to an increase of nearly 1.5%. ECONOMIC EVENTS: In the U.S., the National Federation of Independent Business' small business optimism index came in at 95.3, versus the consensus expectation for a 95.8 reading. COMPANY NEWS: JPMorgan (JPM) swung to a third quarter profit, but its headline earnings per share fell below analystsí consensus estimate. Of note, the company's press release on its results came out earlier than planned on Nasdaq's (NDAQ) Shareholder.com website, which the exchange operator attributed to an internal "human error." Wells Fargo (WFC) reported in-line earnings and stronger credit quality, but its stock slid 1.4% following the report. Citigroup (C) generated the most headlines, however, as it reported better than expected adjusted third quarter profit, announced plans to pull back from retail banking in eleven countries and said it will disband a legacy Banamex unit that provided personal security services after an investigation uncovered illegal conduct. Shares of Citi bucked the trend set by its two peers, rising 3% near noon... In addition to JPMorgan, Dow member Johnson & Johnson (JNJ) reported on its third quarter earnings. The drug and medical device giant reported better than expected profits and revenues and raised its FY14 EPS outlook, but the stock was fractionally lower near midday. MAJOR MOVERS: Among the notable gainers was Energy Transfer Equity (ETE), which gained 8.5% after the stock was among the energy industry names upgraded this morning at RW Baird. Also higher was Skyworks (SWKS), which rose 11% after the company preannounced stronger than expected results that its CEO attributed to the "broad-based strength" of its business. Among the noteworthy losers was EnerNOC (ENOC), which dropped 11% after JPMorgan downgraded the stock to Neutral citing risk to the company's Demand Response revenue at PJM given the challenge to FERC Rule 745. Also lower was Tyco (TYC), which fell nearly 4% after Barclays downgraded the stock citing valuation and coupled the ratings change with an upgrade of Eaton (ETN). INDEXES: Near midday, the Dow was up 133.38, or 0.82%, to 16,454.45, the Nasdaq was up 60.63, or 1.44%, to 4,274.29, and the S&P 500 was up 21.51, or 1.15%, to 1,896.25.
11:59 EDTCCitigroup sees Q4 legal costs continuing to be 'elevated and episodic'
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11:58 EDTCCitigroup sees Q4 consumer banking revenue growth continuing
11:57 EDTCCitigroup says Q4 NIM may decline buy a 'basis point or two'
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11:38 EDTCCitigroup CEO says Citi Holdings now 5% of bank's balance sheet
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10:49 EDTAAPLWells Fargo says spending more on compliance, risk management
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10:43 EDTAAPLSkyworks benefiting from gains at Apple, China 4G/LTE ramp, says Oppenheimer
Oppenheimer raised its estimates on Skyworks (SWKS) after the company pre-announced better than expected Q4 results. The firm expects sustained tailwinds into and beyond next quarter for Skyworks based on continued shares gains at Apple (AAPL) and from rising 4G/LTE phone sales in China. Oppenheimer maintains its Outperform rating and $65 price target on Skyworks and says the stock remains one of its top picks.
10:23 EDTCCitigroup rises after results, trades lower off earlier high
The stock is up 1.5% to $50.58 at time of writing, off the earlier session high at $51.63. At current price support is at $50.44, the low of the day, and then at $51.14 which was the opening price.
09:37 EDTC, AAPLActive equity options trading on open
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