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News Breaks
May 2, 2012
17:26 EDTTRIP, BKS, TGT, TWX, OPEN, MCHP, AAPL, CHK, CMCSA, END, SMSC, AMZN, CBSOn The Fly: Closing Wrap
Stocks on Wall Street were mixed, as generally good earnings reports were dampened by a weak private-sector jobs report. Stock futures traded slightly lower this morning ahead of the ADP employment change report. The report, which measures U.S. service sector jobs, missed expectations, precipitating a sell-off in futures and a lower open for the broader market. The market hit its low point about an hour into the session, with averages subsequently beginning to trade with an upward drift. The indices turned mixed around midday, with the Nasdaq crossing into positive territory after noon. From there, the averages continued to limp along in what was a lackluster session… ECONOMIC EVENTS: In the U.S., ADP said that 119,000 private-sector jobs were added in April, missing expectations for 170,000 job additions. Factory orders declined 1.5% in March, versus expectations of a 1.6% drop. In Europe, two pieces of disappointing data were reported: unemployment rose to 10.9% in the shared-currency bloc, and the eurozone's manufacturing sector contracted, with the manufacturing PMI for the region falling to 45.9 in April from 47.7 in March… COMPANY NEWS: A number of media companies reported better than expected results on both the top and bottom lines, including Comcast (CMCSA), Time Warner (TWX) and CBS (CBS), but only CBS saw its shares move up following its announcement. CBS shares gained 2.30%, while Comcast fell 0.60% and Time Warner moved 1.66% lower... Chesapeake (CHK) fell 14.59% after its earnings missed consensus and Reuters reported on new potential conflicts of interests for its CEO Aubrey McClendon… Target (TGT) has announced it will stop selling Amazon’s (AMZN) Kindle while continuing to offer similar products from Apple (AAPL) and Barnes & Noble (BKS)… MAJOR MOVERS: Among the notable gainers were Standard Microsystems (SMSC), up $10.19, or 38.83%, to $36.43, on news it will be acquired by Microchip Technology (MCHP) for $37 per share in cash, and TripAdvisor (TRIP), up $6.10, or 16.70%, to $42.63, following a better-than-expected Q1 earnings report. Noteworthy losers included Endeavour International (END), down $3.05, or 23.79%, to $9.77, as its Q1 net loss widened on poor natural gas sales in the U.K. and falling gas prices, and OpenTable (OPEN), down $6.56, or 15.02%, to $37.12, after the company missed on revenues and lowered its Q2 EPS and revenue guidance… INDICES: The Dow lost $10.75, or 0.08%, to $13,268.57; the Nasdaq rose $9.41, or 0.31%, to $3,059.85; and the S&P 500 dropped $3.51, or 0.25%, to $1,402.31.
News For CMCSA;TWX;CBS;CHK;TGT;AMZN;AAPL;BKS;SMSC;MCHP;TRIP;END;OPEN From The Last 14 Days
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April 10, 2015
15:28 EDTAAPLApple may charge $10-$15 per month for Beats music service, Bloomberg says
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12:46 EDTAAPLOn The Fly: Midday Wrap
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12:15 EDTTWXTime Warner volatility at low end of historic range
Time Warner April call option implied volatility is at 17, May weekly is at 21, July is at 20; compared to its 26-week average of 22 according to Track Data, suggesting decreasing price movement into the expected release of Q1 results on April 29.
11:00 EDTAAPLApple Watch largely sold out in 30 minutes, says Piper Jaffray
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10:56 EDTAAPLStocks with call strike movement; BIDU AAPL
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10:41 EDTAAPLBattleground: Analysts differ on Apple as Watch pre-orders kick off
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10:00 EDTAAPLOn The Fly: Analyst Downgrade Summary
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09:39 EDTAAPL, AMZNActive equity options trading on open
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09:14 EDTAMZNAmazon.com acquired shoe fitting technology startup, TechCrunch says
Amazon has purchased Shoefitr, a startup whose 3D technology helps match online shoppers with shoes that will best fit them, reported TechCrunch, citing a "reliable source very close to the company." Reference Link
09:11 EDTAMZNCleveland Research sees modest Q1 CSOI upside for Amazon.com
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09:01 EDTAMZNAmazon says High Dynamic Range coming to Prime Instant Video this year
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08:23 EDTAAPLGarmin may be appealing to value seekers, says Pacific Crest
Pacific Crest says its checks found no signs of a pause in demand for Garmin's (GRMN) products leading up to the release of Apple's (AAPL) Apple Watch. The firm suspects that Garmin may be less hurt by the Apple Watch than many believe, and it thinks downside risk from the launch of the Apple Watch has subsided. The firm believes that value seekers could see an opportunity in Garmin, but it keeps a Sector Perform rating on Garmin.
07:47 EDTAAPLApple target raised to $150 at Canaccord after survey shows strong iPhone demand
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07:45 EDTAAPLApple volatility elevated into Apple Watch launch
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06:51 EDTAAPLApple downgraded at Raymond James on tough comps, Apple Watch risk
As previously reported, Raymond James analyst Tavis McCourt downgraded Apple to Market Perform from Outperform ahead of Q2 results. McCourt raised estimates due to iPhone strength in China and stronger buyback activity but believes FY16 comps get tougher and Apple Watch expectations could fall short. He said early reviews of Apple Watch have been muted and could add to investors' fears regarding the company's ability to launch a new successful product. McCourt views Apple's valuation as in-line with large-cap tech peers and expects shares to remain range-bound.
06:48 EDTTWXTime Warner, Legos to market figures that can be brought to life, NY Times says
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06:36 EDTAAPLApple downgraded to Market Perform from Outperform at Raymond James
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06:23 EDTAMZNAmazon begins suing websites providing fake product reviews, BI reports
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06:15 EDTAMZNAmazon receives FAA approval for new drone tests, Reuters reports
Amazon has won the approval from the FAA to test new delivery drone outdoors, reports Reuters. The FAA granted the company request to test delivery drones in a letter dated Wednesday on the agency's website. According to the letter, Amazon must keep flights at an altitud no more than 400 feet and no faster than 100 miles per hour. Reference Link
06:04 EDTAAPLApple sees customer demand for Apple Watch exceeding supply at launch
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