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June 9, 2014
09:36 EDTLVS, HSH, TWTR, NFLX, AMZN, GILD, BIDU, TSLA, CActive equity options trading on open
Active equity options trading on open according to Track Data: C GILD TWTR TSLA AMZN HSH BIDU NFLX LVS WFM
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September 28, 2015
09:36 EDTAMZN, GILD Active equity options trading on open
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07:56 EDTNFLXNetflix appears to have a hit with Narcos, says UBS
UBS analyst Doug Mitchelson said the firm's "Evidence Lab" found that Netflix' Narcos is already among the top four most liked of the company's original shows on Facebook in less than 1 month after premiering, adding that the reception of the show has been particularly strong in Latin America. The apparent hit increases the firm's confidence in Q3 subscriber growth estimates for both the U.S. and international markets, Mitchelson told investors in a research note. The analyst also noted that Netflix ranked sixth in week 1 and 24th in week 2 in terms of iOS app downloads for Japan after launching there. Though the launch is the weakest internationally since 2013, the size of the market should still let it contribute to Q3, wrote Mitchelson who keeps a Buy rating and $143 price target on Netflix shares.
07:50 EDTLVSUBS and Deutsche Bank to co-host a forum
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06:57 EDTTSLANHTSA mulls Takata air bag recall expansion, Bloomberg reports
The National Highway Traffic Safety Administration, or NHTSA, is mulling an order that would expand that recalls of Takata (TKTDY) air bags and has contacted seven manufacturers who may be affected, including Volkswagen (VLKAY) and Tesla (TSLA), Bloomberg reports. Takata had identified seven companies that it has supplied with air bag inflators that use ammonium nitrate propellant, the report says, citing NHTSA letters dated September 22. The NHTSA also contacted Mercedes-Benz (DDAIF), Jaguar Land Rover (TTM), Suzuki (SZKMF), Volvo Trucks (VOLVY), and Spartan Motors (SPAR), the report says. Reference Link
06:27 EDTNFLXNetflix acquires rights to three more TV shows, Variety reports
Netflix has acquired the global streaming rights to CW's "Jane the Virgin," USA's "Colony" and CBS's "Zoo," sources confirm to Variety. Netflix previously announced the acquisition of exclusive global rights to ABC's "How to Get Away with Murder." Reference Link
06:22 EDTAMZNAmazon acquires Safaba Translation Systems, TechFlash reports
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06:11 EDTCCiti upgraded to Buy from Hold at Jefferies
Jefferies analyst Ken Usdin upgraded Citi to Buy citing a better risk/reward following the recent pullback in shares. At current levels the stock is discounting bad news from the global macro slowdown, Usdin tells investors in a research note. Book value growth and better capital return should drive long-term value, the analyst argues. He cut his price target for Citi shares to $60 from $65. Credit Suisse analyst Susan Roth Katzk also upgraded Citi this morning to a buy. She has a $62 price target for shares. The bank closed Friday up $1.43 to $50.56.
05:40 EDTCCiti upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse analyst Susan Roth Katzke upgraded Citi to Outperform saying the current valuation more adequately reflects her concerns. Further, Citi has the "capacity for a material step up in capital return," Katzke tells investors in a research note. The analyst believes capital management and valuation will drive Citi shares higher in the near-term. She keeps a $62 price target for the stock. The bank closed Friday up $1.43 to $50.56.
September 25, 2015
16:35 EDTGILDStocks end week lower as biotechs sink, Volkswagen crashes
Stocks ended the week lower after concerns about drug prices were reignited, sinking biotech stocks, an emissions scandal engulfed Volkswagen (VLKAY), dragging down shares of automakers and their suppliers, and Caterpillar (CAT) announced that it may eliminate as many as 10,000 jobs in the next three years as commodity prices continue to slump. MACRO NEWS: Following the Federal Reserve's decision last week to wait before raising rates, the central bank made a concerted effort to give the market more clarity this week. Over last weekend, three Federal Reserve officials - San Francisco Fed President John Williams, St. Louis Fed President James Bullard and Richmond Fed President Jeffrey Lacker - all argued that an interest-rate increase is still warranted this year. Then, on Thursday night, Fed Chair Janet Yellen said during a speech at UMass Amherst that the central bank remains inclined to hike rates this year. Yellen's remarks were incrementally hawkish, but welcomed by the market, since they helped clarify the message the Fed delivered a week ago... In the U.S., Markit's flash manufacturing purchasing manager's index was flat at 53.0 in September, which was slightly better than the expectation for it to dip to 52.8. Durable goods orders for August declined 2.0%, versus expectations for a drop of 2.3%. When transportation items were removed, the core reading was breakeven, versus expectations for a rise of 0.1%. The third estimate of second quarter GDP showed the economy grew 3.9% quarter-over-quarter, versus expectations for the GDP growth estimate to stay at 3.7%. Personal consumption in Q2 is now believed to have grown 3.6%, up from the prior estimate of 3.1%. The final University of Michigan consumer sentiment reading for September came in at 87.2, which was down from August's 91.9 but above the expected 86.2 reading... The Asian Development Bank cut its growth forecast for the region, citing a weaker outlook for China and India and a delayed recovery in the world's advanced economies. The bank now sees the Chinese economy growing 6.8% this year and 6.7% next year, down from its previous forecasts of 7.2% and 7%, respectively. Markit's flash manufacturing PMI for China fell to 47.0 in September from 47.3 last month. Meanwhile, Japanese Prime Minister Shinzo Abe unveiled new economic targets, including a goal for a 20% increase in the target size of the Japanese economy to 600T yen, though he gave no timeframe for achieving this aspiration... In Europe, Markit's composite PMI for the eurozone came in at 53.9 in the first look for September, down from 54.3 in August and below expectations for a reading of 54.1. COMPANY NEWS: Biotech stocks declined after privately-held Turing Pharmaceuticals made headlines by enacting a 5,000% price increase on its treatment for toxoplasmosis, reigniting a debate around drug prices that previously embroiled costly Hepatitis C drugs including AbbVie's (ABBV) Viekira Pak and Gilead's (GILD) Sovaldi and Harvoni. Presidential candidate Hillary Clinton sent the debate to center stage by criticizing the "outrageous" prices of specialty drugs and laying out a plan to tackle "price gouging" in the specialty drug market. The NASDAQ Biotechnology index fell roughly xxx% for the week amid the attention paid to Turing's drug and Clinton's response... Volkswagen (VLKAY) shares trading in New York fell sharply to begin the week and ended the week far from where they'd been last Friday before the EPA said it found manipulations that violate U.S. environmental standards while testing certain of the automaker's diesel cars. The EPA said Volkswagen may face civil penalties of $37,500 for each vehicle not in compliance with federal clean air rules, which could total as much as $18B, according to Reuters. In the wake of the scandal, Chief Executive Officer Martin Winterkorn resigned, with the company's supervisory board subsequently praising the decision and selecting Matthias Mueller, the former head of Porsche (POAHY), as Winterkorn's successor as the company's new CEO... Caterpillar (CAT) shares dropped after the heavy machinery maker announced plans for job cuts and lowered its revenue guidance for this year and next. Caterpillar said that it would lay off 4,000-5,000 of its employees between now and the end of 2016 and could lay off up to 10,000 employees by 2018. Caterpillar cut its fiscal year 2015 revenue forecast by $1B and said its sees its fiscal year 2016 revenue to be 5% below this year, adding that it expects revenue declines in all three large segments next year... Online and mobile deal provider Groupon (GRPN) said it plans to cut 1,100 jobs relating primarily to the company's international operations... Nike jumped after the athletic gear giant reported better than expected earnings and futures orders, prompting numerous price target hikes and at least one upgrade at Street research firms. Among other companies reporting earnings this week, BlackBerry (BBRY), ConAgra (CAG), Carnival (CCL), and CarMax (KMX) fell immediately following their quarterly reports... Apple (AAPL), which has previously been reported to be working on an electric car via its "Project Titan," is speeding up those efforts and setting 2019 as a target to ship its first vehicle, according to The Wall Street Journal... Against the backdrop of China's President Xi Jinping visiting the U.S., Boeing (BA) announced deals to sell 300 planes to three Chinese companies and set up an aircraft factory in in the Asian nation, while Cisco (CSCO) announced a partnership with Chinese server maker Inspur Group... Lloyd Blankfein, Goldman Sachs (GS) Chairman and CEO, disclosed that he was diagnosed with lymphoma. "Fortunately, my form of lymphoma is highly curable and my doctors' and my own expectation is that I will be cured," Blankfein stated in an open letter that was shared by the bank... GoPro (GPRO) finished the week about xxx% lower after Barron's contended in a feature article last weekend that the company's stock could plunge another 30% to $25 as Apple, Sony (SNE) and others pressure the company's "one-hit wonder" products... On the M&A front, Atmel (ATML) agreed to be acquired by German chipmaker Dialog Semiconductor in a deal valued at roughly $4.6B and Starwood Waypoint (SWAY) announced a stock-for-stock merger agreement with Colony American Homes. INDEXES: The Dow lost about 0.43% to close at 16,314.67, the S&P 500 fell about 1.35% to close at 1,931.34, and the Nasdaq declined about 2.89% to close at 4,686.50.
16:00 EDTTSLA, AMZN, NFLXOptions Update; September 25, 2015
iPath S&P 500 VIX Short-Term Futures up 66c to 25.09. Option volume leaders: AAPL NFLX BAC FB AU NKE PFE INTC AMZN TSLA
15:29 EDTTWTRSquare to file IPO within next two weeks, Fortune reports
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14:59 trades off lows, levels to watch
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12:04 EDTCGlencore taps banks to help sell grains business, Bloomberg reports
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11:58 EDTTWTR, NFLXStocks with call strike movement; TWTR NFLX
Twitter (TWTR) January 32 call option implied volatility increased 2% to 53, Netflix (NFLX) January 115.7 call option implied volatility decreased 2% to 55 according to IVolatility.
10:48 EDTNFLXMorgan Stanley cautious on media, but sees several stocks punished too hard
Morgan Stanley cut its price targets on a number of media companies, citing the impact of cord cutting and skinny bundles. The firm also reduced its outlook for the pay-TV sector due to its belief that the adoption of skinny bundles will accelerate, while the outlook for cable TV ads has deteriorated slightly, given macro pressures. The firm kept a Cautious view on the media sector, but also identified several stocks in the space that it thinks have been punished too harshly by investors recently. WHAT'S NEW: TV networks in general, and cable networks in particular, have the highest margins in media and are encountering increased top and bottom line competitive pressures, Morgan Stanley analyst Benjamin Swinburne believes. On the top line, they are being hit by ratings and ad pressures as well as cord cutting and distribution consolidation, the analyst stated. Meanwhile, their profit is being hurt by the increased need to obtain new content and intensified competition for content from new sources like Netflix (NFLX) and Google's (GOOG) YouTube, Swinburne said. However, the analyst thinks that media stocks are "starting to get" cheap, given the leverage that many of the companies carry. Swinburne cuts his price target on 21st Century Fox (FOXA) to $31 from $37, on AMC Networks (AMCX) to $86 from $88, on CBS (CBS) to $46 from $56, on Time Warner (TWX) to $72 from $87 and on Viacom (VIAB) to $48 from $60. He kept Overweight ratings on Fox, AMC and CBS, an Equal Weight rating on Time Warner and an Underweight rating on Viacom. OVERDONE DECLINES: Swinburne believes that the declines in three media stocks - CBS, 21st Century Fox, and AMC Networks - have been overdone, while the decline in Comcast's (CMCSA) stock has also been excessive. CBS and 21st Century Fox are "best positioned for the skinny bundle" and have the cheapest valuations relative to their growth rates, Swinburne believes. Meanwhile, AMC Networks has "content momentum" and its EPS can exceed expectations, the analyst believes. Comcast is gaining share in the broadband Internet market, could take share in video soon, and has sufficient scale and offerings to benefit from the increased popularity of skinny bundles, according to the analyst, who kept an Overweight rating on the stock. The media sector could benefit from consolidation going forward, added Swinburne, who recommended that investors interested in buying potential takeover targets in the space focus on AMC Networks, MSG Networks (MSG) and Dreamworks Animation (DWA). He kept Overweight ratings on all three of those stocks. OTHERS TO WATCH: Besides Comcast, other pay TV companies include DISH Network (DISH) and Charter Communications (CHTR). PRICE ACTION: In early trading, Fox A shares lost 0.5% to $25.83, AMC fell 0.3% to $73.29, CBS added 0.2% to $41, Time Warner was little changed at $67.66 and Comcast A shares added 0.6% to $57.17.
10:39 EDTTWTRTwitter falls, levels to watch
The stock is down over 2.4% at time of writing to $25.98. At that price next support is at $25.02. Resistance is at $26.42.
09:34 EDTTSLA, NFLXActive equity options trading on open
Active equity options trading on open: AAPL BAC FB NKE NFLX PFE AU TSLA
08:30 EDTAMZNInternap downgraded on earnings miss, negative outlook at Oppenheimer
As noted earlier, Oppenheimer downgraded Internap (INAP) to Perform from Outperform. The firm downgraded the stock after the company significantly lowered its guidance. Oppenheimer says that Internap is not benefiting from strong demand for its prices, while Amazoin (AMZN) is poised to reduce its cloud prices significantly next month, hurting Internap in the process. The firm thinks that if Internap sells the company it will probably obtain less than $10 per share, making the stock's risk/reward unattractive at current levels.
07:34 EDTGILDGilead says CHMP adopts poistive opinion for single tablet regimen Genvoya
Gilead Sciences announced that the Committee for Medicinal Products for Human Use has adopted a positive opinion on the company's Marketing Authorization Application for the investigational, once-daily single tablet regimen Genvoya for the treatment of HIV-1 infection. The data submitted in the MAA support the use of the regimen among adult and adolescent treatment-naive individuals, virologically suppressed adults who switch regimens and adults with mild-to-moderate renal impairment. The CHMP's recommendation will now be reviewed by the European Commission, which has the authority to approve medicines for use in the 28 countries of the European Union. If authorized, Genvoya would be Gilead's first single tablet regimen to contain TAF. The MAA for Genvoya is supported by 48-week data from two pivotal Phase 3 studies in which the regimen met its primary objective of non-inferiority compared to Gilead's Stribild among treatment-naive adult patients. In the studies, Genvoya demonstrated improvement in surrogate laboratory markers of renal and bone safety as compared to Stribild. The MAA is also supported by data from additional Phase 3 studies evaluating the TAF-based regimen among adolescents, virologically suppressed adult patients who switched to Genvoya and adult patients with mild-to-moderate renal impairment.
06:13 EDTNFLXPiper's Munster sees building virtual reality momentum for Facebook
Piper Jaffray analyst Gene Munster says Facebook's (FB) virtual reality theme is building momentum after its Oculus unit announced a 50% price cut for its mobile VR solution headset to $99. Also announced was that the headset, named Gear VR, will work with five phones versus three in the past. A better virtual reality experience is now available to a larger market and the "critically important" content is growing, Munster tells investors in a research note. Oculus has partnerships with Netflix (NFLX), Hulu, Tivo (TIVO), Sega and Midway to bring their content into Gear VR, Munster points out. He expects Samsung to sell 5M-10M Oculus enabled Gear VR headsets next year, up from around 1M in 2015. Munster maintains an Overweight rating on Facebook with a $146 price target. The stock closed yesterday up 44c to $94.41.
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