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Stock Market & Financial Investment News

News Breaks
March 27, 2014
12:18 EDTAMZN, LDOS, BAX, GOOG, GME, BAC, AAPL, LULU, COn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as slides in Citigroup (C) and a number of tech giants weighed on the indexes. The weakness comes in spite of the government's estimate for GDP growth in the fourth quarter having been revised upward, as well as encouraging data about unemployment claims. ECONOMIC EVENTS: The estimate of GDP growth in the fourth guarter was revised up to 2.6% from the prior 2.4% estimate, but analyst had expected it to be bumped up to 2.7% in this third reading. There were 311K initial jobless claims in the week ended March 22, which was below the consensus forecast for 323K claims. Pending home sales fell 0.8% in February from the prior month, missing expectations for them to have risen 0.2%. COMPANY NEWS: Shares of Citigroup dropped 6% after the bank was one of five to have its capital plan rejected by the Federal Reserve. The central bank said Citi's plan reflected a "number of deficiencies" in its planning. Citi was denied its request for a $6.4B share repurchase program and to increase its dividend to 5c per share, but will be permitted to continue with its current capital actions. Following last night's Fed announcment, Citigroup shares were downgraded at Keefe Bruyette and at Bernstein... Shares of Bank of America (BAC) were also lower by nearly 2% near midday, despite receiving approval from the Fed for its 2014 capital plan. The bank will be allowed to repurchase $4B of its common stock and increase its dividend to 5c from 1c per share. The bank also announced a more than $9B settlement with the Federal Housing Finance Agency related to mortgage-backed securities sold to Fannie Mae (FNMA) and Freddie Mac (FMCC) between 2005 and 2007... Shares of Baxter (BAX) rose 5.5% after the company announced plans to split into two separate, independent companies -- one focused on biopharmaceuticals and the other on medical products. The split, which is intended to take the form of a tax-free distribution to Baxter shareholders of a new publicly traded stock in the new biopharmaceuticals company, is expected to be completed by mid-year 2015... Shares of Apple (AAPL), Google (GOOG), Amazon.com (AMZN) and a number of other tech stocks were all lower near noon. MAJOR MOVERS: Among the notable gainers was athletic apparel maker lululemon (LULU), which rose over 6% after the company's fourth quarter results topped analysts' consensus expectation and the company's previously lowered outlook. Also higher was Garmin (GRMN), which gained 4.5% after research firm Oppenheimer joined Citigroup to issue the second positive note about the GPS product maker in two days. Among the noteworthy losers was security, health and engineering solutions firm Leidos (LDOS), which dropped more than 15% after its guidance dissapointed and its COO announced plans to leave the company. Also lower following its earnings reports was video game retailer GameStop (GME), which fell 7%. INDEXES: Near midday, the Dow was down 35.52, or 0.22%, to 16,233.47, the Nasdaq was down 34.23, or 0.82%, to 4,139.35, and the S&P 500 was down 7.94, or 0.43%, to 1,844.62.
News For C;BAC;BAX;LULU;GME;LDOS;AAPL;GOOG;AMZN From The Last 14 Days
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November 14, 2014
06:30 EDTLULUlululemon downgraded to Underperform from Neutral at Sterne Agee
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06:16 EDTAMZN, AAPLEU says Starbucks tax deal in Netherlands may be illegal state aid, WSJ says
The European Union said the tax deal struck by Starbucks (SBUX) in the Netherlands amounts to illegal state aid, reports the Wall Street Journal. European Commission regulators said it reached a preliminary view that the tax deal violated guidelines produced by the Organization for Economic Cooperation and Development. It said the tax deal "tolerates questionable adjustments which allow Starbucks Manufacturing BV to lower the resulting corporate income tax basis in the Netherlands." The EU is also investigating tax arrangements of Apple (AAPL) in Ireland and Amazon (AMZN) and Fiat S.p.A. (FIATY) in Luxembourg. Reference Link
06:00 EDTGOOGGoogle to retire Google Wallet for digital goods API on March 2, 2015
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05:52 EDTGMEOctober NPD video game software sales fell 27%, says Piper Jaffray
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November 13, 2014
16:03 EDTAMZN, AAPLOptions Update; November 13, 2014
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14:26 EDTGOOGAVG Technologies, Google renew Internet search and advertising agreement
AVG Technologies (AVG) announced earlier it has signed a renewal of its Internet search and advertising services agreement with Google (GOOG; GOOGL). The agreement has a 16-month term. AVG Technologies advised that the company's news release earlier today included an incorrect statement of the terms of the Google contract.
13:28 EDTAAPLBlackBerry hits 52-week high after unveiling partnerships
Shares of BlackBerry (BBRY) hit a new 52-week high after the company announced three new partnership deals. The company is slated to hold its analyst day today, starting at 3:30 PM ET. WHAT'S NEW: BlackBerry announced that it would partner with Samsung to provide a security solution for the South Korean company's mobile devices that utilize Google's (GOOG) Android operating system. Under the deal, BlackBerry’s BES12, an Enterprise Mobility Management system, or EMM that was launched today, will be integrated with some of Samgung's Galaxy smartphones and tablets. BES 12 "securely manages devices from all of the major enterprise mobile platforms" and "will help organizations securely connect employees with each other and with the corporate information and machines” they need, BlackBerry stated. Also today, Blackberry announced that it would connect its EMM solutions to Salesforce's (CRM) top customer relationship management platform. "This agreement will allow Salesforce and BlackBerry joint customers to run their businesses from their phone while complying with specific industry regulations," said Vivek Kundra, a Salesforce Executive Vice President in a statement. "BlackBerry has an excellent reputation in security and networks, and when matched with the Salesforce Customer Success Platform, public sector organizations can use their mobile devices to connect with customers in a whole new way," added Kundra. Finally, BlackBerry announced that Brightstar would distribute BES 12. BlackBerry described Brightstar as "the world's largest wireless distribution company and leader in services for the wireless industry." WHAT'S NOTABLE: BES12 is expected to compete with Apple (AAPL) in the enterprise space. Apple earlier this year announced that it was partnering with IBM (IBM) in an effort to sell more products to corporate customers. PRICE ACTION: In mid-afternoon trading, BlackBerry jumped 6% to $11.95. Earlier today the shares set a new 52-week high of $12.05.
11:43 EDTAMZNAmazon.com, Hachette end dispute, New York Times reports
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11:13 EDTAAPLApple hits 52-week high after Bernstein says margins could climb
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09:40 EDTAAPLActive equity options trading
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08:01 EDTAAPLApple price target raised to $120 from $110 at Bernstein
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08:01 EDTAAPLCalpian says deploys Apple Pay for merchants
Calpian, Inc. (CLPI) has successfully enabled Apple Pay (AAPL) for its merchant customers as they respond to growing consumer interest in the new mobile payment service.
07:24 EDTGMEGameStop November volatility elevated into Q3 and outlook
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07:15 EDTGMEGameStop board authorizes $500M share repurchase program
GameStop said in a filing yesterday that on November 11, its Board of Directors approved a cash dividend to its stockholders. The quarterly dividend of 33c per share of Class A Common Stock will be paid on December 16, 2014 to stockholders of record on the close of business on November 25, 2014. Additionally, GameStop Corp. announced that its Board of Directors has authorized $500M of funds to be used in the company’s share repurchase plan. This new authorization replaces the $500M stock repurchase plan announced in November 2013, which had approximately $176.4M remaining at the time of the new authorization.
06:39 EDTAAPLApple's rumored iPad Pro delayed to 2Q15, AppleInsider reports
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06:23 EDTAAPLChipmakers in Apple Watch supply chain to start production, DigiTimes reports
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06:22 EDTGOOGLenovo, Asustek to launch $149 Chromebook, DigiTimes reports
Lenovo and Asustek plan to release Chromebooks using Google (GOOG) certified solutions from Rockchip in 1H15, reports DigiTimes. According to DigiTimes Resarch's latest finding from the Greater China supply chain, the devices are expected to be priced at $149. Reference Link
06:20 EDTAMZN, GOOGAmazon's Web-services chief not threatened by cash threat from rivals, WSJ says
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06:07 EDTAAPLApple paying little in iTunes taxes outside North America, AFR reports
According to a report from The Australian Financial Review, which cites an investigation led by the International Consortium of Investigative Journalists, more than two-thirds of the money Apple’s iTunes makes outside North America goes through the group’s Luxembourg holding company where it is not taxable. Apple has been widely criticized for its tax practices in Europe. Reference Link
06:04 EDTGME, LULUStocks with implied volatility above IV index mean; GME LULU
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