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November 14, 2012
12:39 EDTFB, STMP, ANF, IAG, CSCOOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as the sluggish trading that has persisted since the end of the U.S. election continues. The averages began the session in positive territory but were unable to improve on their opening prices. The fiscal cliff continues to weigh on the market as lawmakers continue to comment to the press regarding its urgency but have not offered any solutions. The lack of movement on the issue, coupled with new, more aggresive revenue demands from the president, have kept investors anxious and unwilling to bid up the market... ECONOMIC EVENTS: In the U.S., retail sales fell 0.3% in October, versus expectations for a decline of 0.2%. Producer prices fell 0.2% in the month, versus forecasts for them to have increased 0.2%. Excluding food and energy, the core reading fell 0.2%, versus the expected increase of 0.4%. Business inventories rose 0.7% in September, versus expectations for an increase of 0.6%. In Europe, industrial production dropped the most in more than three years in September, declining 2.5% from August and 2.3% from the prior year... COMPANY NEWS: Cisco (CSCO) reported stronger than expected first quarter results and generally in-line second quarter earnings guidance, sparking an upgrade at Pacific Crest and a 6% rally in its shares... MAJOR MOVERS: Among the notable gainers was Abercrombie & Fitch (ANF), which surged over 27% after its better than expected quarterly results and full year guidance prompted at least four upgrades of its stock. Also higher were shares of Facebook (FB), up 9% in spite of a massive IPO lock-up expiration that allowed employees and early investors in the company to sell their shares. Among the noteworthy losers were IAMGOLD (IAG), down 18% after reporting its quarterly results and revising its gold production guidance for its next fiscal year, and (STMP), down 11% after Craig-Hallum said the company's site experienced a number of outages in November due to IT issues... INDICES: Near 12:30 pm ET, the Dow was down 75.18, or 0.59%, to 12,681.00; the Nasdaq was down 7.48, or 0.26%, to 2,876.41; and the S&P 500 was down 6.54, or 0.48%, to 1,367.99.
News For CSCO;ANF;FB;IAG;STMP From The Last 14 Days
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September 24, 2015
06:32 EDTFB360-degree video should boost GoPro sales, says JPMorgan
JPMorgan analyst Paul Coster believes GoPro (GPRO) has first-mover advantage in the creation of high-quality, low-cost 360-degree content after being named the exclusive spherical content provider for Facebook's (FB) News Feed. Coster is "still reeling from the experience" of riding yesterday via Facebook with Ronnie Renner across the dunes of Idaho. The launch of 360-degree content on Facebook's News Feed should spur sales of GoPro's hardware and give momentum to the company's media and entertainment initiatives, Coster tells investors in a research note. The analyst keeps an Overweight rating on the action camera maker with a $75 price target. The stock closed yesterday down 67c to $32.64.
September 23, 2015
20:08 EDTCSCOChinese president visits U.S. amid cybersecurity, copyright worries
As part of his first official U.S. visit, Chinese president Xi Jinping held a meeting with American business leaders on Wednesday to address concerns of copyright infringement and cybersecurity, among numerous topics. In attendance were corporate giants from both nations, including Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Cisco (CSCO), Alibaba (BABA), Tencent (TCEHY), and Baidu (BIDU), according to media reports. COPYRIGHT CONCERNS: Responding to oft-cited concerns of copyright infringement by Chinese companies, Xi said China will "stand firm to protect" the intellectual property rights of American companies, according to Wall Street Journal coverage of the event. Note that in late 2014, China began establishing specialized courts to deliberate on intellectual property rights cases, and Xi commented Wednesday that "the newly established IPR courts are working smoothly. This means there will be much stronger IPR protection which will serve the interests of foreign businesses as well as Chinese companies." Chinese consumer electronics company Xiaomi is perhaps the most talked-about firm when it comes to the matter, with media outlets frequently criticizing its alleged "copying" of Apple design sensibilities. In mid-July, Xiaomi VP of global operations Hugo Barra told Bloomberg that the company is preparing to enter U.S. markets, though he cautioned that the launch could be "much more" than a year away as it seeks to build up its patent portfolio. CYBERSECURITY TENSIONS: Wednesday's meeting comes in the wake of numerous high-profile "hack attacks," with Sony (SNE), American Airlines (AAL), Anthem (ANTM), United Airlines (UAL), and Target (TGT) all reporting digital security breaches in recent years. Xi has consistently denied the involvement of state-backed hackers, but tensions have nevertheless arisen as cybersecurity firms such as FireEye (FEYE) and Palo Alto Networks (PANW) backtrace connections to the country. Cybersecurity intrusions originating from China have recently slowed ahead of Xi's visit, according to Reuters, with Kevin Mandia of security firm Mandiant telling the publication, "In my gut, I feel like the Chinese and the U.S. over the next couple of years are going to figure this out."
16:34 EDTCSCOOn The Fly: Top stock stories for Wednesday
Stocks began the day in quiet fashion and remained that way during the first hour of trading. Following the release of the weekly energy inventory report, the averages moved lower and looked to be possibly setting up for another selloff. Positive comments on China's economy by its President, who is visiting the U.S., brought out buyers, who pared the market's losses. The averages finished slightly in the red in a day marked by low volume as a number of market participants may have been absent in observance of the Jewish holiday of Yom Kippur. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing purchasing manager's index was flat at 53.0 in September, which was slightly better than the expectation for it to dip to 52.8. EIA inventory data showed a 1.93M barrel fall in crude oil inventories, versus expectations for a weekly drawdown of 1.25M barrels. In China, Markit's flash manufacturing PMI fell to 47.0 in September from 47.3 last month. In Europe, Markit's composite PMI for the eurozone came in at 53.9 in the first look for September, down from 54.3 in August and below expectations for a reading of 54.1. COMPANY NEWS: Shares of Volkswagen (VLKAY) trading in New York rebounded 6.5% to $27.10 following the resignation of Chief Executive Officer Martin Winterkorn, with the company's supervisory board subsequently praising the decision and saying it will consider his replacement at a meeting Friday. Prior to the CEO change news, the stock was downgraded at research firms JPMorgan, Deutsche Bank and Natixis to hold or equivalent ratings this morning. Accounting for today's advance, U.S.-listed shares of Volkwagen are still down nearly 29% since last Friday, when the EPA publicly accused the automaker of equipping certain diesel cars sold in the U.S. with software that circumvented emissions standards... Against the backdrop of China's President Xi Jinping visiting the U.S., Boeing (BA) announced deals to sell 300 planes to three Chinese companies and set up an aircraft factory in China. The deals are possibly worth tens of billions of dollars in total and represent the largest total order the planemaker has received from Chinese companies, according to Reuters. The Wall Street Journal reported, citing people familiar with the matter, that Cisco (CSCO) plans to announce a partnership with Chinese server maker Inspur Group during President Xi Jinping's visit. MAJOR MOVERS: Among the notable gainers was First Niagara (FNFG), which advanced $1.30, or 14.5%, to $10.26 following a Bloomberg report that the company is exploring a sale. DealReporter noted that potential suitors include Toronto-Dominion Bank (TD), Huntington Bancshares (HBAN) and New York Community Bancorp (NYCB). BioMed Realty (BMR) gained $2.36, or 12.3%, to $21.54 after Bloomberg reported that the company is in talks to sell itself and has attracted attention from firms including Blackstone (BX). Heron Therapeutics (HRTX) rose $7.25, or 21.6%, to $40.81 after announcing that its Phase 2 study of HTX-011 for post-operative pain met its primary endpoint. Shares of a competitor Pacira (PCRX) declined 7.65% after the news, with several analysts remarking that Heron's data compares favorably versus Pacira's Exparel drug. Summit Midstream Partners (SMLP) declined $3.90, or 18.2%, to $17.52 following a Bloomberg report that Energy Capital Partners is seeking to sell its stake in the company. Synchronoss (SNCR) fell 10.75% to $33.37 after research firm Baird said it has become "increasingly concerned" that Verizon (VZ) is "no longer fully committed" to the white-label cloud product it offers in conjunction with the cloud services provider. INDEXES: The Dow fell 50.58, or 0.31%, to 16,279.89, the Nasdaq lost 3.98, or 0.08%, to 4,752.74, and the S&P 500 declined 3.98, or 0.2%, to 1,938.76.
16:00 EDTFBOptions Update; September 23, 2015
iPath S&P 500 VIX Short-Term Futures down 53c to 23.81 Option volume leaders: AAPL NFLX BAC FB BABA DOW RIG MU FCX PBR XOM JPM
13:33 EDTFBFacebook introduces 360 video
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13:10 EDTFBGoPro launches 360-degree videos on Facebook
GoPro (GPRO) announces it is bringing "immersive, spherical videos" to Facebook's (FB) News Feed. Beginning today, people on Facebook can experience GoPro 360-degree video directly through their web browser or Android mobile device, the action camera maker said in a press release. In the coming weeks, GoPro will launch additional 360-degree content on Facebook, it added. Shares of the action camera maker are up 10c to $33.41 in afternoon trading.
09:18 EDTCSCOPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
06:36 EDTFBFacebook unveils new 'Click to message' ad-type, Business Insider reports
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06:21 EDTCSCOCisco preps for Inspur deal to bolster China business, WSJ reports
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September 22, 2015
19:08 management to meet with Northland
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17:13 EDTFBFacebook's Instagram surpasses 400M users
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16:00 EDTFBOptions Update; September 22, 2015
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15:52 EDTFBThe Washington Post to send 100% of stories to Facebook Instant Articles
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10:56 EDTCSCOAnalysts disagree on Infoblox outlook
The shares of network controller maker Infoblox (BLOX) are retreating after Deutsche Bank downgraded the stock to Hold in a note to investors today. However, Stifel gave a divergent opinion on the stock yesterday, recommending it as a Buy. BUY: Research firm Stifel yesterday initiated coverage of Infoblox with a Buy rating, saying that the company is poised to benefit from "the tremendous growth of IP-based devices in enterprises." Infoblox has significant growth potential and is the leader in its markets, wrote Stifel, adding that the company should be boosted by its new products and better sales execution going forward. It set a $23 price target on the stock. HOLD: Infoblox still has to work hard to sell its IP Address management system and its Domain Name System, or DNS, product, Deutsche Bank analyst Vijay Bhagavath indicated. Moreover, the company will probably have to increase the amount of money it spends on sales initiatives in fiscal 2016, putting a lid on its earnings power, the analyst warned. Also likely to hurt Infloxblox in fiscal 2016 are its transition to an "as a service model," which is likely to cause analysts to lower their estimates for the company and Cisco's (CSCO) launch of an OpenDNS product for companies, according to Bhagavath, who cut his price target on Infoblox to $20 from $30. PRICE ACTION: In morning trading, Infoblox fell 3.7% to $17.11.
06:33 EDTFBFacebook user data rules have ripple effects, WSJ reports
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September 21, 2015
14:40 EDTFBiPath S&P 500 VIX Short-Term Futures down 90c to 23.79
Option volume leaders: AAPL NFLX BAC FB BABA DOW TSLA
10:55 EDTFBBelgian watchdog: Court shouldn't be be intimidated by Facebook, Bloomberg says
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09:40 EDTFBActive equity options trading on open
Active equity options trading on open: AAPL BAC ESV BABA FB NFLX TSLA TWTR GE GPRO JPM ONVO MU
07:12 EDTCSCOSplunk to hold a users conference
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06:24 EDTFBEU's web rules won't discriminate against U.S. tech companies, WSJ reports
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