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Stock Market & Financial Investment News

News Breaks
November 27, 2012
16:29 EDTACAD, RAH, THO, MNST, CAG, MMR, HPQOn The Fly: Closing Wrap
Stocks on Wall Street finished lower on the day, after a mixed session turned negative for all three major averages following comments from Senate Majority Leader Harry Reid. Reid said that he was disappointed with the most recent round of negotiations regarding the fiscal cliff and that little progress had been made... ECONOMIC EVENTS: In the U.S., non-defense capital goods orders excluding aircraft rose 1.7% in October, versus expectations for a 0.5% decline. Total durable goods orders were unchanged for the month, versus expectations for them to decline 0.7%. The S&P Case-Shiller 20-city home-price index gained 0.4% in September compared to the prior month. The Conference Board's consumer confidence index rose to 73.7 in November, beating expectations and hitting its highest level in almost five years. The Richmond Fed manufacturing survey for November registered +9, compared to expectations for it to slide to -9. In Europe, the region's finance ministers, the ECB and the IMF reached an aid deal on Greece, which is expected to help the nation reduce its debt-to-GDP ratio to 124% by 2020... COMPANY NEWS: ConAgra Foods (CAG) agreed to acquire Ralcorp Holdings (RAH) for $90.00 per share, or about $6.8B including the assumption of debt. Shares of Ralcorp shot up $18.57, or 26.44%, to $88.80 following the deal announcement and ConAgra also climbed $1.34, or 4.74%, $29.63 after the news... Hewlett-Packard (HPQ), in response to an open letter issued by Autonomy founder Mike Lynch, said it has evidence that Autonomy inflated its financial metrics and would take legal action on the matter when appropriate. Shares of HP traded lower on the session, down 38c, or 2.98%, to $12.36... MAJOR MOVERS: Among notable gainers were shares of Monster Beverage (MNST) up $6.08, or 13.26%, to $51.96 after Goldman said the FDA's response to Senator Durbin's letter on energy drinks was generally benign and encouraging. Also higher was ACADIA Pharmaceuticals (ACAD), up $3.13, or 136.09%, to $5.43 following its report of positive results from a trial of its treatment for Parkinson's disease psychosis, or PDP. Among the noteworthy losers was McMoRan Exploration (MMR), which slid another $1.47, or 15.23%, to $8.18 a day after the company provided an update on its Gulf of Mexico exploration results and indicated ongoing well difficulties. Also lower were shares of Thor Industries (THO), down $5.00, or 11.47%, to $38.60 after a disappointing Q1 report... INDICES: The Dow was down 89.24, or 0.69%, to 12,878.13; the Nasdaq was down 8.99, or 0.30%, to 2,967.79; and the S&P 500 was down 7.35, or 0.52%, to 1,398.94.
News For CAG;RAH;HPQ;MNST;ACAD;MMR;THO From The Last 14 Days
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February 24, 2015
16:11 EDTHPQHP lower by over 4% after reporting Q1 results, guidance
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16:10 EDTHPQHP personal systems revenue for Q1 was flat
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16:08 EDTHPQHP sees Q2 EPS 84c-88cc, consensus 96c
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16:08 EDTHPQHP lowers FY15 EPS view to $3.53-$3.73 from $3.83.-$4.03, consensus $3.95
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16:06 EDTHPQHP reports Q1 EPS 92c, consensus 91c
Reports Q1 revenue $26.8B, consensus $27.34B.
15:21 EDTHPQNotable companies reporting after market close
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13:46 EDTHPQHP technical notes before results
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13:35 EDTHPQHP February weekly 38 straddle priced for 4.6% movement into Q1
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12:47 EDTHPQEarnings Preview: HP reports with break-up inching closer
Hewlett-Packard (HPQ) is set to report first quarter earnings after the market close on Tuesday, February 24, with a conference call scheduled for 5:00 pm ET. Hewlett-Packard is an IT company that provides hardware, software, and business and enterprise solutions. In October of last year, HP announced plans to separate into two new publicly traded companies: one comprising HP's enterprise technology infrastructure, software and services businesses, which will do business as Hewlett-Packard Enterprise, and one that will comprise HP's personal systems and printing businesses, which will do business as HP Inc. EXPECTATIONS: Analysts are looking for earnings per share of 91c on revenue of $27.34B, according to First Call. The consensus range for EPS is 88c-95c on revenue of $27.01B-$27.92B. With its last earnings report, the company said it expects Q1 EPS of 89c-93c. HP has an FY15 EPS forecast of $3.83-$4.03, compared to a consensus estimate of $3.96. LAST QUARTER: On November 25, HP reported fourth quarter EPS of $1.06, matching the consensus estimate, on revenue of $28.4B, against a consensus estimate of $28.76B. HP said its Q4 personal systems revenue was up 4% from the prior year period, with total units up 5%, including Desktops units being down 2% and Notebooks units being up 8%. Enterprise Group revenue was down 4% year over year, with Industry Standard Servers revenue down 2%, Storage revenue down 8%, Business Critical Systems revenue down 29%, Networking revenue up 2% and Technology Services revenue down 3%. NEWS: On the day after HP's Q4 report, HP CEO Meg Whitman said in an interview on CNBC that the company will have a moratorium on acquisitions during 2015 as it readies for its split. Whitman also noted that the newly formed companies will have a supply chain agreement to ensure they do not lose leverage after their split. In mid January, research firm Gartner estimated that worldwide shipments of PCs increased 1% last quarter. "These results indicate a slow, but consistent improvement following more than two years of decline," the firm wrote. Late last month, HP said it has been "working diligently to ensure that both HP Inc. and Hewlett-Packard Enterprise are set up for success" and announced Hewlett-Packard Enterprise will be headed by Meg Whitman as President and CEO and that HP Inc. will be led by Dion Weisler as President and CEO. STREET RESEARCH: On December 17, Citigroup analyst Jim Suva contended that sales of PCs will be at least flat next year, before growing slightly in 2016 and 2017. The firm identified HP as the best way to play better than expected PC sales. Suva raised his price target on HP shares to $46 from $40 and kept a Buy rating on the stock. Also at that time, Suva raised his price target on hard disk drive maker Western Digital (WDX) to $125 from $110 and on its competitor, Seagate (STX), to $74 from $70, as he noted that the companies obtain about 50% of their revenue from PCs. He kept Buy ratings on both names. On January 13, Pacific Crest downgraded HP to Sector Perform from Outperform, citing increased competition and the fact that a number of companies are buying integrated IT stacks and buying fewer individual servers and IT storage products. More recently, Wells Fargo said it believes that HP's Q1 results could exceed the consensus outlook, driven by PC share gains, strong server demand, and solid printing demand. The firm believes that currency issues may pressure the company's outlook, but it thinks that investors expect such a scenario. The firm reiterated an Outperform rating on the shares. PRICE ACTION: Over the last three months, shares of HP are up almost 2%. Near midday ahead of Tuesday's report, the stock was down fractionally near $38 per share.
12:22 EDTACADOn The Fly: Analyst Initiation Summary
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07:06 EDTACADACADIA initiated with a Buy at H.C. Wainwright
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06:54 EDTHPQTwo reshuffles in HP's cloud computing unit, Gigaom says
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06:36 EDTHPQHP obtains ten year outsourcing deal from Deutsche Bank, Reuters reports
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February 23, 2015
08:55 EDTHPQHP volatility elevated into Q1 and outlook
HP February weekly call option implied volatility is at 61, March is 30, April is at 28, August is at 27; compared to its 26-week average of 27 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on February 24.
07:40 EDTHPQHP Q1 results could beat expectations, says Wells Fargo
Wells Fargo believes that HP's Q1 results could exceed the consensus outlook, driven by PC share gains, strong server demand, and solid printing demand The firm believes that currency issues may pressure the company's outlook, but it thinks that ivnestors expect such a scenario. The firm reiterates an Outperform rating on the shares.
February 20, 2015
09:22 EDTMNSTMonster Beverage volatility elevated into Q4 and outlook
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07:27 EDTHPQHP volatility elevated into Q1 and growth outlook
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February 19, 2015
08:45 EDTHPQHP launches open network switches for web scale cloud data centers
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February 18, 2015
10:02 EDTHPQe.Digital Corporation files patent infringement lawsuits against HP, others
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06:15 EDTHPQHP Q1 sales should be in-line despite currency, says Citigroup
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