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Stock Market & Financial Investment News

News Breaks
August 30, 2013
09:00 EDTVZ, NUAN, TI, SPLK, SOL, PSUN, GE, OVTI, CRM, VOD, BIG, APA, KKDOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Splunk (SPLK), up 10%... Salesforce.com (CRM), up 8%... Big Lots (BIG), up 3%... ReneSola (SOL), up 15%. ALSO HIGHER: Apache (APA), up 7% after selling minority stake in Egypt venture to China's Sinopec... Telecom Italia (TI), up 8% following upgrade at Bernstein and amid takeover speculation following Verizon (VZ), Vodafone (VOD) deal... Nuance (NUAN), up 3% after Carl Icahn disclosed 16.9% stake, may seek talks with the company regarding board seat... GE (GE), up 2% after WSJ says working on plan to spin off U.S. white-label credit card business of GE Capital... DOWN AFTER EARNINGS: Krispy Kreme Doughnuts (KKD), down 13%... OmniVision Technologies (OVTI), down 14%... Pacific Sunwear of California (PSUN), down 3%.
News For CRM;SPLK;KKD;OVTI;TI;APA;GE;NUAN;BIG;PSUN;VZ;VOD;SOL From The Last 14 Days
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April 8, 2015
17:25 EDTGECourt reverses $664M judgment against United Technologies
In a regulatory filing, United Technologies (UTX) reports that on April 6, the Sixth Circuit Court of Appeals rendered a decision in the litigation concering the F100 engine. The litigation arose from allegations by the U.S. Department of Justice that Pratt & Whitney -- a United subsidiary -- violated the civil False Claims Act relating to the competition between Pratt & Whitney's F100 engine and General Electric's (GE) F110 engine, resulting in alleged overpayments by the government for F100 engines under contracts awarded by the U.S. Air Force in fiscal years 1985-1990. On June 17, 2013, a trial court in Ohio rendered a decision awarding the government $473M in damages and penalties, plus prejudgment interest for a total judgment of approximately $664M. In its latest decision, the Sixth Circuit reversed the trial courtís judgment, noting that the government did not prove any damages, and remanded the case to the trial court to decide whether the government should have another opportunity to prove that it suffered any actual damages.
16:40 EDTAPAApache sells Australian operations for $2.1B
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09:13 EDTGEElectrolux sees GE Appliances deal closing in 2015
Electrolux (ELUXY) announced that results for the business area Major Appliances North America will be significantly lower than anticipated in Q1. Electrolux operations continue to be negatively impacted by the transition of the product ranges within refrigeration and freezers. This transition is a consequence of the new energy requirements imposed during the second half of 2014. Earnings are also affected by the ramp up of the cooking plant in Memphis, which has been slower than anticipated. Results for the business area in the first quarter 2015 will therefore be negative. A program to restore profitability and increase efficiency is under way. It will require most of 2015 before these actions will show full effect. The preparation work for the integration of GE Appliances (GE) is progressing well and Electrolux remains confident that the transaction will be closed in 2015. During the integration planning, additional synergies of $50M have been identified, in excess of the previously communicated $300M. Total cost synergies are now estimated to $350M.
08:01 EDTSPLKSplunk awarded contract to support Lockheed Martin's L-35 Lightning II Program
Splunk (SPLK) announced it was awarded a contract to support Lockheed Martinís (LMT) F-35 Lightning II Program. Splunk has provided Lockheed Martin with Splunk Enterprise to monitor and analyze IT systems and network behavior for the Autonomic Logistics Information System, which supports the F-35 Lightning II, a 5th generation fighter jet. Splunk Enterprise is initially being used by Lockheed Martin in 25 different operating environments for IT operations and application delivery, analyzing machine data from the systems and networks supporting the ALIS infrastructure to help ensure applications are operating at peak performance.
06:00 EDTCRMSalesforce.com implied volatility of 28 at lower end of index mean range
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April 7, 2015
16:00 EDTVZOptions Update; April 7, 2015
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10:43 EDTSPLKInformatica rises after agreeing to be taken private for $48.75 per share
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10:28 EDTVODMavenir announces VoLTE launch with Vodafone Germany
Mavenir Systems (MVNR) announced its VoLTE application solution was launched by Vodafone Germany (VOD), who announced during CEBIT 2015 the first commercially available VoLTE service in the European market. Mavenirís virtualized VoLTE application solution consists of its IMS Telephony Application Server, Application Gateway and Media Resource Function.
10:05 EDTSPLKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Carnival (CCL) upgraded to Outperform from Market Perform at Wells Fargo... Crown Castle (CCI) upgraded to Buy from Hold at Evercore ISI... Ctrip.com (CTRP) upgraded to Overweight from Neutral at Piper Jaffray... Demandware (DWRE) upgraded to Conviction Buy from Buy at Goldman... FirstEnergy (FE) upgraded at BofA/Merrill... Frontier Communications (FTR) upgraded to Neutral from Underperform at DA Davidson... JPMorgan (JPM) upgraded to Outperform from Market Perform at Bernstein... Pattern Energy (PEGI) upgraded to Outperform from Market Perform at Raymond James... Ralph Lauren (RL) upgraded to Buy from Outperform at CLSA... ResMed (RMD) upgraded to Outperform from Neutral at Credit Suisse... Ryanair (RYAAY) upgraded to Overweight from Neutral at JPMorgan... Splunk (SPLK) upgraded to Overweight from Neutral at Piper Jaffray... Total (TOT) upgraded at RBC Capital... Verifone (PAY) upgraded to Buy from Hold at Stifel... XL Group (XL) upgraded to Buy from Neutral at UBS.
09:35 EDTVZActive equity options trading on open
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09:02 EDTOVTIOmniVision and VIA Technologies partner to develop HD video monitoring solution
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06:40 EDTSPLKSplunk upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Katherine Egbert upgraded Splunk (SPLK) to Overweight saying the stock's valuation is more reasonable following the 13% sell-off since the company's Q4 earnings report. Egbert views Splunk's new distribution agreement with Arrow Electronics (ARW) as a sign of improving demand and she sees the potential for upsell of enterprise-wide license agreements. Shares of the provider of big data products closed yesterday up 95c to $60.18 after analysts at Stephens upgraded the stock Monday morning.
April 6, 2015
16:00 EDTVZOptions Update; April 6, 2015
iPath S&P 500 VIX Short-Term Futures down 51c to 24.53. Option volume leaders: AAPL TSLA VZ TWTR BIDU RIG NFLX AMZN KO PBR according to Track Data.
10:33 EDTSPLKFollow-up: Splunk upgraded at Stephens
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10:02 EDTSPLKOn The Fly: Analyst Upgrade Summary
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10:01 EDTVZWeather Channel's core buiness facing 'major' threat, WSJ reports
The Weather Channel, which is owned by a consortium made up of NBCUniversal (CMCSA) and private equity firms Bain Capital and The Blackstone Group (BX), was dropped last month from Verizon's (VZ) FiOS TV service, and now the channel's backers are preparing for the possibility of being dropped by Dish Network (DISH), sources tell The Wall Street Journal. Though The Weather Channel is facing a "major" threat to its core business, the fees it collects from the pay-TV providers, the sources say that no formal sale by the company's owners is under way. Reference Link
07:15 EDTSPLKSplunk upgraded to Overweight from Equal Weight at Stephens
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06:45 EDTVZQualcomm downgraded to Market Perform from Outperform at FBR Capital
FBR Capital downgraded Qualcomm (QCOM) to Market Perform, removed the stock from its Top Picks list and dropped its price target for shares to $72 from $80. FBR said the moves were prompted by a posting on AT&T's (T) website which said the carrierís version of the GS6 smarphone is powered by the Samsung Exynos 7420 processor with a Shannon 333 modem as opposed to Qualcomm's Snapdragon platform. FBR still expects the Verizon (VZ) and Sprint (S) GS6 versions to sport Qualcomm modems, but it believes the change at AT&T signals Samsungís "clear intent to utilize proprietary baseband whenever and wherever possible." Shares of chip maker Qualcomm closed Thursday down $1.46 to $67.97.
April 5, 2015
18:47 EDTGEPart of GE Louisville facility catches fire, Reuters says
A section of General Electric's Louisville, Kentucky facility used for warehousing and offices caught fire on Friday, says Reuters. A company spokesperson said "The fire at GE Appliance Park has been contained," and there were no injuries from the incident, added Reuters. Reference Link
08:43 EDTVZ, GEAT&T, Philip Morris, eight others have reliable yields up to 5.7%, Barron's says
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