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Stock Market & Financial Investment News

News Breaks
August 14, 2014
16:30 EDTRRGB, WMT, OVTI, CSCO, NDLS, KSSOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory and drifted higher throughout the session. The president gave an optimistic press conference about the situation in Iraq, followed by press reports that the nation's incumbent Prime Minister has conceded defeat and will back the PM-designate. In another positive international development, a ceasefire was called by Russia to allow humanitarian efforts to take place in Ukraine. Investors are setting their sights now on tomorrow’s economic reports, which include the producer prices index, treasury bond flows, industrial production and capacity utilization reports and the University of Michigan consumer confidence report. ECONOMIC EVENTS: In the U.S., initial jobless claims rose to 311K in the second week of August, versus expectations for 295K claims. Import prices fell 0.2%, while export prices were flat in July. In Europe, growth in the shared currency zone stagnated, with Q2 GDP slipping to unchanged. The biggest economy in the region, Germany, saw its GDP contract 0.2% in the quarter. COMPANY NEWS: Cisco Systems (CSCO) was the laggard on the Dow Jones Industrial Average, falling 66c, or 2.62%, to $24.54 after saying it does not expect emerging markets growth for "several quarters" and that it expects to cut 6,000 jobs, or 8% of its workforce. The move lower came despite its report of higher than expected sales and profits for its fiscal fourth quarter and multiple Street research firms raising their price targets on Cisco's stock... Another member of the Dow, Wal-Mart (WMT), reported second quarter results that were in-line with expectations, but the world's largest retailer cut its fiscal year earnings outlook citing additional investments in e-commerce and higher U.S. health-care costs than previously anticipated. Despite the lowered guidance, Wal-Mart shares finished the day up 36c, or 0.49%, at $74.39. MAJOR MOVERS: Among the notable gainers was OmniVision (OVTI), which rose $3.69, or 15.0%, to $28.29 after announcing its board has received a preliminary non-binding proposal from Hua Capital Management to acquire all of the outstanding shares of common stock of the company for $29.00 per share in cash. Also higher was department store operator Kohl's (KSS), which gained $1.80, or 3.27%, to $56.91 after reporting better than expected second quarter earnings and noting that its sales improved as the quarter progressed, with July comparable sales turning positive. Among the noteworthy losers was Red Robin Gourmet Burgers (RRGB), which fell $11.92, or 18.47%, to $52.63 after the company reported lower than anticipated second quarter results and its stock was downgraded to Neutral from Buy at Longbow. Also lower after reporting quarterly earnings that missed expectations was another restaurant operator, Noodles & Company (NDLS), which dropped $4.05, or 16.08%, to $21.16. INDEXES: The Dow gained 61.78, or 0.37%, to 16,713.58, the Nasdaq advanced 18.88, or 0.43%, to 4,453.00, and the S&P 500 added 8.46, or 0.43%, to 1,955.18.
News For CSCO;WMT;KSS;OVTI;RRGB;NDLS From The Last 14 Days
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February 3, 2016
20:02 EDTWMTWal-Mart to build own gas stations going forward, WSJ says
Wal-Mart (WMT) plans to build and operate its own gas stations going forward, though Murphy USA (MUSA) will continue the operate the 1,000-plus stations it has already built near Wal-Mart locations, reports the Wall Street Journal. A Wal-Mart spokesperson told the publication that, when building new stores, the company will add its own gas stations "to as many as possible." Reference Link
16:40 EDTCSCOCisco and Jasper Technologies hold a joint conference call
Cisco Vice President Salvagno and Jasper Technologies CEO Mohammed discuss Cisco's intent to acquire Jasper Technologies on a joint conference call to be held on February 3 at 5 pm. Webcast Link
16:19 EDTCSCOCisco to acquire Jasper Technologies for $1.4B
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14:36 EDTCSCOArista shares jump as analysts encouraged patent issues can be overcome
Shares of Arista Networks (ANET) jumped Wednesday after the U.S. International Trade Commission reached an initial determination in the first of the company's ongoing patent disputes with Cisco (CSCO). The findings, though not entirely in Arista's favor, were cheered by several Wall Street analysts, who foresee little to no impact on Arista's business from the patent fight. NO BUSINESS IMPACT: Oppenheimer analyst Ittai Kidron argued today that, while the ITC's early ruling found Arista in violation of three of the five Cisco patents in question, the company already has workarounds for two of the disputed patents and is working on a third. That last workaround is scheduled for a second quarter rollout and could potentially miss the final determination deadline, but Kidron explained that Arista would simply work with U.S. Customs on the matter at that point. The analyst expects Arista to take the necessary steps to preempt any disruption and foresees zero impact to its business, leading him to keep an Outperform rating on the shares and recommends buying them on any weakness. Kidron noted, however, that the stock could be volatile surrounding the final determination in early June and the rulings for the second ITC investigation, due late April and August. ARISTA ATTRACTIVE: Wells Fargo analyst Jess Lubert echoed Kidron's bullish outlook, saying the ITC findings were largely as expected and "more than priced into" the shares. Arista's story remains attractive, customer sentiment is unlikely to be affected, and securing approval for the Q2 software workaround is "unlikely to be a problem," said the analyst, adding that the additional engineering costs associated with the fix appear already embedded in Arista's financial model. Lubert kept an Outperform rating on the shares, though he too noted potential volatility surrounding future legal findings. PRICE ACTION: Shares of Arista Networks have jumped 5.4% to $60.83, while Cisco has edged up nearly 1%.
07:37 EDTCSCOArista Networks infringement 'largely priced into shares,' says Wells Fargo
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07:17 EDTCSCOArista Networks should be bought o nany weakness, says Oppenheimer
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06:04 EDTCSCOCisco says ITC ruling 'beginning of the end' for Arista's copying
Cisco's (CSCO) Mark Chandler in a blog post last night commented on the International Trade Commission's ruling in the first of their investigations into Arista Networks (ANET). The judge found violations of three Cisco patents, foreshadowed an exclusion order banning imports of all Arista switches and installed a challenging ITC review process for any new designs, Chandler wrote. "The details of the Judge's determination will be published within 30 days, but this notice marks the beginning of the end for Arista's systemic copying of our intellectual property," he added. He listed four options for Arista: Withdraw the products, modify the products so that they no longer infringe, face an exclusion order or evade the ITC exclusion order. Chandler continued, "And this is just the beginning. In April we will see a ruling in the second ITC investigation, which may confirm more violations and import bans. Arista will also face two District Court juries with these rulings on their record. The judges and juries in those trials will note this day as the day that Arista no longer can pretend that its products aren't tainted by misconduct. This will be important as they consider injunctions to remove infringing Arista product from the market." Shares of Arista closed yesterday down $1.56 to $57.70. Cisco closed down 65c to $22.83. Reference Link
February 2, 2016
16:25 EDTCSCOArista responds to initial ruling in Cisco dispute, plans new software in Q2
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15:50 EDTCSCOCisco looks to stop imports of Arista Networks routers, Bloomberg says
Arista (ANET), according to a U.S. trade judge, violates three Cisco (CSCO) patents, adds Bloomberg.
10:34 EDTKSSKohl's upgraded on valuation, strategy success, Q4 outlook at Buckingham
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10:26 EDTCSCOFireEye calls active
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10:18 EDTCSCOCisco could be interested in FireEye, dealReporter says citing sources
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10:00 EDTKSSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: DuPont Fabros (DFT) upgraded to Buy from Hold at Evercore ISI... GOL Linhas (GOL) upgraded to Neutral from Sell at Goldman... Integrated Device (IDTI) upgraded to Outperform from Neutral at Wedbush... Julius Baer (JBAXY) upgraded to Hold from Sell at Deutsche Bank... Kohl's (KSS) upgraded to Buy from Neutral at Buckingham... Mattel (MAT) upgraded on positive catalysts at Stifel... Mitsubishi sees limited downside for Tableau (DATA), ups to Neutral ... Morgan Stanley (MS) upgraded to Outperform from Neutral at Macquarie... Netflix (NFLX) upgraded to Overweight from Neutral at Piper Jaffray... Realty Income (O) upgraded to Equal Weight from Underweight at Morgan Stanley... TJX (TJX) upgraded to Outperform from Market Perform at BMO Capital.
08:17 EDTKSSKohl's upgraded to Buy from Neutral at Buckingham
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February 1, 2016
08:08 EDTWMTMoneyGram, Wal-Mart announce new three-year agreement
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January 29, 2016
06:51 EDTWMTJury says Wal-Mart must by pharmacist $31.22M in gender bias case, Reuters says
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January 28, 2016
16:50 EDTCSCOCisco says Chief Development Officer Pankaj Patel to step down
Cisco disclosed in a regulatory filing that, on January 25, Pankaj Patel, EVP and Chief Development Officer, Global Engineering of Cisco Systems notified the company of his decision to step down from his current position during 2H16.
11:18 EDTKSSOptions with increasing put volume
Options with increasing put volume: DRII SNE LH CAVM KSS UCO ILMN JBLU AVT SWK JNPR RRC CL HES
January 27, 2016
09:29 EDTCSCOFacebook data center project supported by telco heavyweights, FT reports
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08:56 EDTCSCOEMC CEO says 'very committed' to partnership with Cisco
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