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Stock Market & Financial Investment News

News Breaks
February 11, 2014
04:55 EDTCHKP, CHKP, CHKP, N, N, N, Z, Z, Z, AKAM, AKAM, AKAM, FB, FB, FB, GOOG, GOOG, GOOG, YELP, YELP, YELP, BRCM, BRCM, BRCM, YHOO, YHOO, YHOO, IBM, IBM, IBM, LNKD, LNKD, LNKD, P, P, PGoldman to hold a conference
Technology and Internet Conference is being held in San Francisco on February 11-13.
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April 3, 2014
15:49 EDTIBMGlobalfoundries in lead to buy IBM chip plants, TSMC out of talks, DJ says
IBM (IBM) also held talks with Intel (INTC), according to Dow Jones, citing sources.
15:10 EDTGOOGVIX methodology for Google decreases 9.2% after 2-1 stock split
VIX methodology for Google (VXGOG) is recently down 9.2% to 28.56 after 2-1 stock split
13:38 EDTFBFacebook retests the $60 area, levels to watch
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13:09 EDTYELPYelp volatility up a day after FTC reveals over 2,000 complaints since 2008
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12:20 EDTGOOGGoogle considers wireless service in Fiber markets, The Information says
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11:56 EDTYELPYelp drops again after revealing subpoenas are issued monthly
Shares of Yelp (YELP) are declining for a second straight day after the Federal Trade Commission disclosed yesterday that it had received over 2,000 complaints about the company over the last five years. Meanwhile, The Wall Street Journal, citing a Yelp spokeswoman, reported today that the company receives about six subpoenas per month. WHAT'S NEW: Yelp's stock is falling for a second day after the Federal Trade Commission yesterday stated that it had received 2,046 complaints about Yelp from 2008 through March 4, 2014. The agency's statement came in response to a Freedom of Information Act request by Wall Street Journal writer Angus Loten. Many of the subpoenas received by Yelp relate to lawsuits filed by business owners over reviews, The Journal reported. Other subpoenas that the company receives seek the names of anonymous users who have posted reviews on Yelp, the newspaper added. WHAT'S NOTABLE: Later this month, the Virginia Supreme Court is slated to hear a key lawsuit involving Yelp, The Journal noted. The carpet cleaning business that filed the lawsuit alleges that seven negative reviews about it which were placed on Yelp were fraudulent and may have been posted by its competitors, the newspaper stated. The business has sued the seven reviewers for defamation and is trying to force Yelp to disclose the names of the reviewers, The Journal reported. ANALYST REACTION: In a note to investors earlier today, SunTrust analyst Robert Peck wrote that the 6% decline in the stock yesterday was "likely an overreaction." The number of complaints received by the FTC against Yelp is not "noteworthy," given the large number of reviews on the website, Peck stated. Moreover, the number of subpoenas that the company receives is "uninspiring," the analyst argued. He kept a Neutral rating on the shares. PRICE ACTION: In late morning trading, Yelp fell $3, or 4%, to $72.60.
10:00 EDTPPandora rises 5.1%
Pandora is up 5.1%, or $1.59, to $33.03
10:00 EDTBRCMOn The Fly: Analyst Downgrade Summary
BB&T (BBT) downgraded to Outperform from Strong Buy at Raymond James... Broadcom (BRCM) downgraded to Neutral from Overweight at Piper Jaffray... CF Industries (CF) downgraded to Neutral from Buy at Citigroup... CSX (CSX) downgraded to Equalweight from Overweight at Barclays... Cheniere Energy (LNG) downgraded to Neutral from Outperform at Credit Suisse... Citigroup (C) downgraded to Neutral from Buy at Sterne Agee... Deutsche Bank (DB) downgraded to Neutral from Overweight at JPMorgan... G&K Services (GK) downgraded to Neutral from Outperform at RW Baird... Marcus (MCS) downgraded to Neutral from Buy at B. Riley... National Retail Properties (NNN) downgraded to Sell from Neutral at UBS... Norfolk Southern (NSC) downgraded to Neutral from Overweight at Atlantic Equities... Orion Energy (OESX) downgraded to Hold from Buy at Ascendiant... VIVUS (VVUS) downgraded to Underweight from Neutral at Piper Jaffray... Liquidity Services (LQDT) downgraded to Neutral from Outperform at RW Baird... Shaw Communications (SJR) downgraded to Sector Performer from Outperformer at CIBC... USG (USG) downgraded to Neutral from Outperform at Macquarie... Level 3 (LVLT) downgraded to Hold from Buy at Gabelli... U.S. Bancorp (USB) downgraded to Neutral from Conviction Buy at Goldman... Extra Space Storage (EXR) downgraded to Buy from Conviction Buy at Goldman... First Republic Bank (FRC) downgraded to Buy from Conviction Buy at Goldman... TELUS (TU) downgraded to Neutral from Outperform at Macquarie.
09:37 EDTLNKDActive equity options trading on open
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09:30 EDTIBMApple, Pfizer others create 'go slow' patent lobby group, Reuters says
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09:27 EDTYELPYelp sell-off yesterday likely an overreaction, says SunTrust
SunTrust believes the number of FTC complaints regarding Yelp is not noteworthy given the number of companies that have been reviewed on the company's platform. The firm views yesterday's sell-off in shares as a likely overreaction but keeps a Neutral rating on the name.
08:54 EDTGOOGGoogle Class C shares begin trading today
Google (GOOG) is effectively splitting its stock via a dividend distribution of new "Class C" shares, which begin trading today. The price of existing Google A shares, which hold one vote each, is expected to fall by half today as the C shares begin trading. WHAT'S NOTABLE: In January, Google announced that its board approved a dividend of Class C shares to be distributed on April 2 to holders of record as of March 27. The new Class C shares will trade under the ticker "GOOG" and the company's existing Class A shares will trade under a new ticker, "GOOGL." The company has previously said that its Q1 GAAP EPS will be half of what it would otherwise report because its net earnings are divided by twice as many shares. The company also said that its non-GAAP EPS will be similarly affected by the Class C dividend issuance, but will also be impacted by the expected sale of Motorola Mobile to Lenovo (LNVGY). This sale triggers "discontinued operations" accounting treatment, Google noted. Both Google Class A and Class C will be included in the S&P 500 and S&P 100 and there will not be a switch from Class A to Class C. Class A shares will subsequently be removed from Nasdaq indexes when the exchange operator rebalances them on June 23. By introducing non-voting C shares, Google's Sergey Brin and Larry Page will be able to issue stock to compensate workers or make acquisitions without diluting their voting stake, Bloomberg has noted.
08:31 EDTPPandora reports 75.3M active listeners at the end of March
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07:50 EDTGOOGNew Google shares land in market, Bloomberg says
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06:36 EDTYELPYelp receives subpoenas monthly over users, WSJ reports
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06:29 EDTGOOGTaiwan makers: Chromebook shipments in 2014 to reach 4M-5M units, DigiTimes says
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06:24 EDTGOOGGoogle could ship up to 11M Chromebooks worldwide by 2019, DigiTimes says
ABI Research believes Google could ship an estimated 11M Chromebooks in 2019 after shipping nearly 2.1M in 2013, reports DigiTimes. Research Analyst Stephanie Van Vactor said the device is a disruptive force to the portable PC market after finding the ASP to be $338. Reference Link
06:20 EDTYHOOYahoo's goal of raising encryption could clash with advertising, WSJ reports
Yahoo's Chief Information Security Officer Alex Stamos announced new progress on efforts to beef up encryption although he admits there are limits to this encryption, reports the Wall Street Journal. The company could use HTTPS, which would block outsiders from watching data people submit, but Yahoo would then have to persuade every advertising network running ads to use the same encryption. Reference Link
06:10 EDTGOOG, FBGoogle's LeBeau hired by Facebook, TechCrunch reprots
Google (GOOG) product designer Mike LeBeau has been hired by Facebook (FB), TechCrunch reports. LeBeau had a hand in developing several voice-related technologies, including iPhone Voice Search, while working as a staff software engineer and product designer at Google, and was an early member of the Android team. LeBeau will become a product manager at Facebook. Reference Link
06:01 EDTFBInstagram fixing bug that hides users' photos, AP reports
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