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Stock Market & Financial Investment News

News Breaks
January 24, 2014
09:35 EDTAAPL, GOOG, TSLA, SAN, NFLX, TWTR, C, AAActive equity options trading on open
Active equity options trading on open according to Track Data: SAN C AAPL TSLA NFLX GOOG PBR MSFT AA TWTR
News For C;SAN;AAPL;TWTR;TSLA;AA;NFLX;GOOG From The Last 14 Days
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June 15, 2015
10:34 EDTAAPLMicron declines after another analyst says sell
The shares of memory makers Micron (MU) and SanDisk (SNDK) are falling after Morgan Stanley downgraded both stocks in a note to investors earlier today. MICRON: Morgan Stanley analyst Joseph Moore downgraded Micron to Underweight, the firm's equivalent of a "sell" rating, from Equal Weight. Moore said that his checks in Taiwan indicate that the outlook for DRAM, a form of flash memory sold by Micron, is "cautious versus expectations" for the third quarter. Previously, the analyst had expected DRAM to experience a seasonal boost in Q3, but he now expects this lift to be delayed until at least Q4. Moreover, DRAM prices will probably stay weak through Q3 as customers' inventories of DRAM are excessive, while sales of PC DRAM will probably remain weak in Q3 and could stay low in Q4, the analyst stated. Moore is concerned that DRAM supply could exceed expectations in 2016, while demand for the product could decelerate next year. Micron could have difficulty improving its earnings in 2016 from current levels, warned the analyst, who set a $21 price target on the shares. WHAT'S NOTABLE: On June 9, after conducting checks in Taiwan, research firm Piper Jaffray predicted that PC DRAM prices would continue to decline. However, the firm kept an Overweight rating on Micron, citing its belief that the stock's valuation was "compelling." Much more pessimistic was research firm Drexel Hamilton, which on June 9 cut its rating on Micron to Sell from Hold, DRAM price declines are likely to continue, the firm predicted. SANDISK: On SanDisk, Moore believes that the company will have trouble recovering from declines in purchases of its products by Apple (AAPL). Various technological issues will prevent it from selling its products to other smartphone makers, the analyst stated. Meanwhile, SanDisk is unlikely to find alternative buyers for its SSD memory, since it is not widely used, added Moore. As a result, SandDsk will have to charge lower prices for its products, according to Moore, who downgraded SanDisk to Equal Weight from Overweight and lowered his price target on shares to $75 from $80. PRICE ACTION: In early trading, Micron fell 4.5% to $24 and SanDisk gave back 3.3% to $63.90.
10:29 EDTAAPLApple to pay more than 70% of Music revenue to rights owners, Re/code reports
Apple will pay music owners 71.5% of Apple Music's subscription revenue in the U.S. and 73% of the revenue to music owners outside the U.S, reports Re/code. In an interview, Apple's Robert Kondrik said the totals include payments to people who own the sound recordings Apple Music will pay as well as the people who own the publishing rights to the underlying compositions. Kondrik says Apple’s payouts are a few percentage points higher than the industry standard, in part to account for the lengthy trial period. Reference Link
10:26 EDTNFLXOptions with increasing implied volatility
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09:50 EDTAAPLApple price weakness continues, levels to watch
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09:40 EDTTWTRTwitter touches 52-week lows, levels to watch
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09:38 EDTNFLX, TWTR, AAPL, C, TSLAActive equity options trading on open
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08:34 EDTAAPLGlobal Payments announces support for Apple Pay in the U.K.
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08:19 EDTAAPLLG Display tapped as sole OLED supplier for second-gen Apple Watch, MK reports
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08:04 EDTTSLATesla credit facility clears up near-term cash concerns, says Dougherty
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08:03 EDTCMasterCard adding tokenization support for private label credit cards
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07:46 EDTAAPLJabil Circuit upgraded to Buy on continued growth at Needham
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07:33 EDTCBig banks may target fee-generating firms for acquisitions, WSJ says
Large U.S. banks may begin targeting fee-generating businesses as possible takeover targets, the Wall Street Journal reports. Big banks may start looking at businesses that don’t require too much capital for acquisitions, such as advisory businesses, payment processing, treasury services, and financial tech, the report says. Even though heightened capital and liquidity requirements make many types of acquisitions “unappealing” to big banks, the idea of banks even as big as JP Morgan (JPM) pursuing a multi-billion dollar deal is “no longer out of the realm of possibility,” the report says. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:17 EDTTWTRAlwaleed says would support Dorsey as Twitter CEO, CNBC reports
Prince Alwaleed bin Talal of Saudi Arabia, one of Twitter’s (TWTR) largest stakeholders, clarified statements from The Financial Times, saying that should Twitter interim CEO Jack Dorsey wish to take on the CEO role, "I would support him," CNBC reports. He also commented that "The Financial Times was wrong" in its report, which suggested that Alwaleed would not support Dorsey as permanent CEO of the company.
07:13 EDTTWTRTwitter volatility stays low after Costolo steps down as CEO
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06:45 EDTAAPLBeats axed plans for Sonos-like Wi-Fi speaker system, Variety reports
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06:36 EDTTWTRPrince Alwaleed does not support Dorsey as Twitter CEO, FT reports
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06:30 EDTTWTRSquare planning to go public this year, Forbes reports
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06:12 EDTTWTRTwitter CFO Noto a 'front-runner' to succeed Costolo as CEO, WSJ reports
Twitter CFO Anthony Noto, who has accumulated a broad range of responsibilities in less than a year on the job, has emerged as a front-runner to succeed Dick Costolo, who will be stepping down as CEO on July 1, The Wall Street Journal reports. According to a source, Noto "isn't gunning for the CEO job." Reference Link
05:59 EDTTWTRStocks with implied volatility above IV index mean; TWTR BBRY
Stocks with implied volatility above IV index mean; Twitter (TWTR) 32, BlackBerry (BBRY) 51 according to iVolatility.
05:53 EDTNFLXStocks with implied volatility movement; MNKD NFLX
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