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Stock Market & Financial Investment News

News Breaks
July 14, 2014
12:21 EDTC, AAPL, URS, RVBD, MYL, ABT, ACM, HLITOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday to start the week after Citigroup's (C) better than expected headline results appeared to renew investor optimism over the earnings season. Also, a number of additional M&A deals were reported over the weekend and this morning. Since its initial move higher the market has moved in a very narrow range, but the early gains are still enough to put the major averages on track for their best daily performance since late May. ECONOMIC EVENTS: In the U.S., no major economic data was released this morning. COMPANY NEWS: Shares of Citigroup (C), the second major U.S. bank to report on its second quarter results, advanced 3% after its headline earnings and revenue beat expectations. Also, the bank announced that it has reached a $7B settlement that resolves actual and potential civil claims by the Department of Justice, several state attorneys general and the Federal Deposit Insurance Corporation relating to RMBS and collateralized debt obligations issued, structured or underwritten by Citi between 2003 and 2008... Mylan (MYL) struck a deal to buy Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in an all-stock transaction valued at about $5.3B. Under the terms of the deal, Abbott will carve out the assets and transfer them to a new public company organized in the Netherlands. Mylan will then merge with that company to become a new public company, called Mylan N.V., allowing it certain tax advantages. Abbott will receive 105M shares of the combined company, meaning it will hold an approximate 21% stake in Mylan following the deal. Shares of both companies advanced after the deal announcement, with Abbott gaining 1% and Mylan rising nearly 3%. MAJOR MOVERS: Shares of Apple (AAPL) rose 1.5% after Barclays upgraded its stock to Overweight and raised its price target for the shares to $110 from $95, citing channel checks that indicate near-term upside to consensus estimates and strong new products into 2015. The firm also said it believes troubles at Samsung are creating an opportunity for Apple to regain market share. Meanwhile, Morgan Stanley reported that its survey results suggests June quarter iPhone demand upside and the firm raised its iPhone unit estimate and its EPS estimate for the coming quarter above the consensus forecasts. Among the notable gainers with merger news was URS (URS), which rose about 11% after it announced this weekend that it agreed to be acquired by AECOM Technology (ACM) for a combination of cash and stock valued at approximately $4B, or $56.31 per URS share. Shares of the buyer also rose 7.5% after the announcement. Among the noteworthy losers was Harmonic (HLIT), which plunged 10.5% after the company's second and third quarter outlooks fell significantly short of analysts' consensus estimates. Also lower following its own profit warning was Riverbed (RVBD), which fell 5.5% after the company cut its second quarter adjusted EPS and revenue outlook. Afterward, activist investor Elliot Management reaffirmed its prior $21 per share bid for the company and urged the company's board to "immediately" retain an advisor and announce a review of strategic alternatives, including a sale. INDEXES: Near midday, the Dow was up 129.89, or 0.77%, to 17,073.70, the Nasdaq was up 31.62, or 0.72%, to 4,447.11, and the S&P 500 was up 11.13, or 0.57%, to 1,978.70.
News For C;AAPL;URS;RVBD;MYL;ABT;ACM;HLIT From The Last 14 Days
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September 19, 2014
08:48 EDTAAPLUBS Internet and IT hardware analysts hold an analyst/industry conference call
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08:33 EDTAAPLCalpian to support Apple Pay for merchants
Calpian (CLPI) is set to support Apple Pay and provide merchants with access to Apple’s (AAPL) new mobile payments ecosystem. The new mobile payment system from Apple, Apple Pay will allow consumers to pay for goods and services with Touch ID using Apple’s iPhone 6, iPhone 6 Plus and the Apple Watch through an antenna design.
08:23 EDTAAPLApple price target raised to $110 from $106 at Cowen
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08:11 EDTAAPLTriQuint chip among those in iPhone 6 Plus, iFixit reports
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08:03 EDTAAPLInvenSense, NXP, RF Micro chips included in iPhone 6, iFixit reports
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07:17 EDTCCitigroup up against hard situation in Argentina bond plea, Reuters says
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06:43 EDTAAPLYouTube spending more money on original content, Re/code reports
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06:33 EDTAAPLTELUS announces iPhone 6, iPhone 6 Plus available in stores
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06:22 EDTAAPLGoogle planning to encrypt phone data in Android, Washington Post reports
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September 18, 2014
16:00 EDTAAPLOptions Update; September 18, 2014
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15:22 EDTAAPLBroadcom appears to be WiFi chip provider for Apple Watch, Chipworks says
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14:08 EDTCBanks look to high-interest personal loans to boost revenue, WSJ says
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09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL YHOO TWTR VVUS RAD PWE WFM TSLA PIR SHLD
08:46 EDTAAPLApple patent points to development of bone conducting EarPods, AppleInsider says
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07:29 EDTAAPLApple, U2 collaborate on digital format to up music-buying, Time says
Apple and U2 are collaborating on a new project to develop a digital music format which will increase music purchases and fairly compensate artists, reported Time. Reference Link
07:26 EDTAAPLGartner: Smartwatch market ready to expand, poised for takeoff, DigiTimes says
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06:55 EDTAAPLApple launches new iOS 8 phones with 'kill switch'
Attorney General Eric Schneiderman and San Francisco District Attorney George Gascon revealed that new iPhones sold with iOS 8 will include Apple’s theft deterrent system, Activation Lock, as a default setting. This marks the first time in the history of the smartphone industry that theft deterrent technology is available by default on new products. In addition to being standard on the new iPhone 6 and 6 Plus, newly-sold iPhones will also prompt users to upgrade to iOS 8. Additionally, the new operating system can also be installed on most previous models of iPhones. As co-chairs of the Secure Our Smartphone, or S.O.S. Initiative, Attorney General Schneiderman and District Attorney Gascon led the effort to call on the wireless industry to address the global rise in smartphone thefts. The ultimate goal of SOS is for every mobile device to have a “kill switch” on by default. A default solution is imperative because it ensures that the device will be worthless to thieves. Reference Link
06:40 EDTAAPLApple wants to sell 50M Apple Watches in 2015, DigiTimes reports
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06:27 EDTAAPLReport says one iPhone 6 Chinese license approved, Reuters says
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05:40 EDTAAPLApple says will never allow government access to servers
Apple launched a website dedicated to privacy with a message from its CEO Tim Cook. The message stated in part, "We don’t build a profile based on your email content or web browsing habits to sell to advertisers. We don’t ‘monetize’ the information you store on your iPhone or in iCloud. And we don’t read your email or your messages to get information to market to you. Our software and services are designed to make our devices better. Plain and simple...Finally, I want to be absolutely clear that we have never worked with any government agency from any country to create a backdoor in any of our products or services. We have also never allowed access to our servers. And we never will."
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