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February 5, 2013
16:49 EDTMHP, CSC, VMED, BIDU, YUM, MSFT, ACM, LBTYA, DELLOn The Fly: Closing Wrap
Stocks on Wall Street were higher as the Dow's third straight session with a triple digit move allowed it to close just shy of the 14K level, while the S&P 500 climbed back above 1,500... ECONOMIC EVENTS: In the U.S., the Institute for Supply Management's index of non-manufacturing activity dipped to 55.2 in January from 55.7 in December, but beat expectations for a reading of 55.0. In Europe, the composite euro-zone services PMI rose to 48.6 in January from a 48.3 reading in the prior month. In China, HSBC's services PMI jumped to 54.0 in January from 51.7 the month before... COMPANY NEWS: Dell's (DELL) expected "go private" deal was officially announced, as private equity firm Silver Lake and Michael Dell agreed to buy the company for $13.65 in cash, or about $24.4B. As had been speculated, the financing for the deal includes a $2B loan from Microsoft (MSFT). Dell shares, which had risen about 22% over the last month amidst the going private chatter, gained 15c, or 1.13%, to $13.42... Virgin Media (VMED) rose $6.92, or 17.89%, to $45.61 after confirming that it is in discussions with Liberty Global (LBTYA) concerning a possible transaction. CNBC's David Faber reported late in the afternoon that the boards of both companies voted to approve a cash and stock deal that will see Liberty Global take over Virgin Media. Liberty shares lost $1.58, or 2.27%, to $67.88... Yum! Brands (YUM) reported earnings after yesterday's close that were in-line with expectations, but the company reported same-store-sales in China fell 6% in Q4. Shares of Yum! Brands were downgraded at RW Baird and Goldman and slid $1.86, or 2.91%, to $62.08... MAJOR MOVERS: Among the notable gainers was Computer Sciences (CSC), up $3.84, or 9.16%, to $45.75, and AECOM Technology (ACM), up $1.95, or 7.7%, to $27.26 after both companies reported earnings that beat estimates. Among the notable losers was McGraw-Hill (MHP), which followed yesterday's slide with another loss of $5.38, or 10.7%, to close at $44.92 after the DOJ confirmed it is suing Standard & Poor's for alleged fraud in rating mortgage-based securities. Also lower was Baidu (BIDU), which fell $10.83, or 10.1%, to $96.37 after its Q4 report, as shares were downgraded by Stifel Nicolaus and Raymond James with both firms citing increased margin pressure... INDICES: The Dow was up 99.22, or 0.71%, to 13,979.30; the Nasdaq was up 40.41, or 1.29%, to 3,171.58; and the S&P 500 was up 15.58, or 1.04%, to 1,511.29.
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October 1, 2015
10:00 EDTMSFTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMEC Foster Wheeler (AMFW) upgraded to Neutral from Underperform at Macquarie... Ares Capital (ARCC) upgraded to Outperform from Neutral at Macquarie... Celgene (CELG) upgraded to Overweight from Neutral at JPMorgan... Deutsche Boerse (DBOEY) upgraded to Overweight from Underweight at Barclays... Devon Energy (DVN) upgraded on valuation, catlysts at Bernstein... HeartWare (HTWR) upgraded to Market Perform from Underperform at Northland... IBERIABANK (IBKC) upgraded to Buy from Hold at Sandler O'Neill... (JD) upgraded to Buy from Hold at Deutsche Bank... Kirby (KEX) upgraded to Neutral from Underperform at Macquarie... Madison Square Garden (MSG) upgraded to Buy from Hold at Jefferies... Microsoft (MSFT) upgraded to Neutral from Underperform at BofA/Merrill... Newell Rubbermaid (NWL) upgraded to Buy from Neutral at B. Riley... Norfolk Southern (NSC) upgraded to Outperform from Peer Perform at Wolfe Research... Pernod Ricard (PDRDY) upgraded to Buy from Neutral at Goldman... RWE AG (RWEOY) upgraded to Sector Perform from Underperform at RBC Capital... SanDisk (SNDK) upgraded to Overweight from Equal Weight at Morgan Stanley... Steven Madden (SHOO) upgraded to Outperform ahead of earnings turn at Telsey Advisory... Trex Company (TREX) upgraded to Strong Buy from Buy at CL King... Universal Health (UHS) upgraded to Overweight from Sector Weight at KeyBanc... Western Digital (WDC) upgraded on transaction, valuation, momentum at Argus... Workday (WDAY) upgraded to Overweight from Equal Weight at Stephens.
07:18 EDTYUMYum! Brands October volatility elevated into Q3 and outlook
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06:23 EDTMSFTMicrosoft upgraded to Neutral from Underperform at BofA/Merrill
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September 30, 2015
16:50 EDTMSFTMicrosoft, Google agree to end patent feud over phones, Xbox, Bloomberg says
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11:09 EDTMSFTMicrosoft to open flagship stores in Manhattan, Syndey
Microsoft announced that it plans to open a flagship store in Manhattan on Fifth Avenue and 53rd Avenue on October 26 and one at Westfield Sydney on Pitt Street Mall on November 12. On the company's blog, it said the flagship stores have been in the making for six years. Reference Link
10:01 EDTBIDUOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abengoa Yield (ABY) downgraded to Equal Weight from Overweight at Morgan Stanley... American Airlines (AAL) downgraded to Neutral from Buy at Goldman... Baidu (BIDU) downgraded to Hold from Buy at Summit Research... Banco Santander (SAN) downgraded to Neutral from Overweight at JPMorgan... Barracuda (CUDA) downgraded to Equal Weight from Overweight at Stephens... Basic Energy (BAS) downgraded to In-Line from Outperform at Imperial Capital... C.H. Robinson (CHRW) downgraded to Sell from Neutral at Goldman... Cheetah Mobile (CMCM) downgraded to Neutral from Outperform at Credit Suisse... FleetCor (FLT) downgraded to Hold from Buy at Evercore ISI... Gap (GPS) downgraded to Sell from Neutral at UBS... Genuine Parts (GPC) downgraded to Sell from Neutral at Goldman... Grupo Televisa (TV) downgraded to Hold from Buy at HSBC... ITC Holdings (ITC) downgraded to Sell from Neutral at UBS... Lantheus (LNTH) downgraded to Market Perform from Outperform at Wells Fargo... Rentrak (RENT) downgraded to Buy from Strong Buy at Needham... SQM (SQM) downgraded to Neutral from Overweight at JPMorgan... Sequenom (SQNM) downgraded to Hold from Buy at Jefferies... Team (TISI) downgraded to Equal Weight from Overweight at Stephens... Universal Truckload (UACL) downgraded to Hold from Buy at BB&T.
08:45 EDTMSFTNVIDIA price target raised to $30 from $28 at JMP Securities
JMP Securities increased its price target on NVIDA (NVDA) after Microsoft's (MSFT) cloud platform began offering NVIDIA's Grid 2.0 GPU virtualization solutions, JMP says that Microsoft's move "paves the way for broader Cloud adoption and further entrenchment of Nvidia Quadro solutions." The firm reiterates an Outperform rating on the stock.
07:18 EDTYUMYum! Brands has multiple positive catalysts, says RBC Capital
RBC Capital believes that Yum is benefiting from a rebound of KFC in the U.S. ,continued outperformance by Taco bell, and stabilizing Pizza Hut trends. The firm expects the company's profitability in China to exceed expectations. It maintains its above-consensus EPS estimates for Yum and keeps a $103 price target and Top Pick rating on the shares.
06:14 EDTMSFTRackspace expected to partner with Amazon, WSJ reports
Rackspace Hosting (RAX) is expected to partner with Amazon (AMZN) to make it easier for corporate customers to move computing operations to Amazon Web Services from their own facilities, The Wall Street Journal reports. According to two sources, the partnership, which is similar to an agreement Rackspace signed with Microsoft (MSFT) in July, will be announced at a conference for AWS users next week. Reference Link
05:33 EDTBIDUBaidu downgraded to Hold from Buy at Summit Research
Summit Research analyst Henry Guo downgraded Baidu to Hold citing limited visibility into the company's O2O initiatives. The profitability drag from O2O investments will weigh on Baidu's financials for multiple years, Guo tells investors in a research note. The O2O competitive landscape in China is increasing with Meituan and Dianping having early mover advantages, the analyst argues. He cut his price target for Baidu shares to $150 from $205. The Chinese-language Internet search provider closed yesterday up $3.62 to $136.68. Guo points out that his industry checks suggest the company's core search business remains solid and that he believes consensus revenue estimates for Q3 and Q4 are achievable.
September 29, 2015
10:37 EDTBIDUNetflix could announce strategic cooperation with Wanda Group, Techweb says
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08:06 EDTACMAECOM receives selective catalytic reduction retrofit contract with APS
AECOM has been selected for the project with Arizona Public Service to engineer, procure and construct selective catalytic reduction retrofits and related balance of plant equipment at the Four Corners Station near Farmington, N.M. AECOM will install SCR technology for APS Four Corners units 4 and 5 at the coal-fired power plants. AECOM has a three-decade history that represents the cleaning of more than 25,000 megawatts of coal-plant emissions and is an established market leader in SCR systems design and installation for both grassroots and retrofit projects. The project's value was included in AECOM's ending backlog for the third quarter.
06:01 EDTMSFTMicrosoft to host conference call
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September 28, 2015
16:34 EDTMSFTMicrosoft to change financial reporting structure
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13:13 EDTMSFTMicrosoft comments on privacy, Windows 10 on blog
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12:06 EDTMSFTMicrosoft acquires Adxstudio, terms not disclosed
Bob Stutz -- Corporate VP, Microsoft Dynamics CRM -- disclosed in a blog post that Microsoft has acquired has reached a definitive agreement to acquire key product and technology assets of Adxstudio Inc., a provider of Web portals, online engagement solutions and application lifecycle management solutions for Microsoft Dynamics CRM. Stutz says, "With this acquisition of our long-time partner, our customers will immediately be able to take advantage of new and exciting ways to engage with customers online." Terms of the deal have not been disclosed. Reference Link
10:43 EDTMSFTMicrosoft planning Google Cardboard VR competitor, TNW News says
Microsoft (MSFT) is working on a competitor to Google's (GOOG) Cardboard Virtual Reality program, TNW News reports. The Seattle-based tech giant is inviting participants to an event in Russia on October 17, offering cardboard headsets to those with "successful" suggestions, the report says. Microsoft is already developing its HoloLens "mixed reality" technology, the report says. Reference Link
05:07 EDTLBTYAVodafone says asset exchange talks with Liberty Global have ended
On June 5, Vodafone Group (VOD) confirmed that it was in the early stages of discussions with Liberty Global (LBTYA) regarding a possible exchange of selected assets between the two companies. Vodafone today announced that discussions with Liberty Global have terminated.
September 25, 2015
18:13 EDTMSFTGates Foundation files lawsuit against Petrobras, auditor, WSJ says
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September 24, 2015
12:11 EDTMSFT, BIDUMicrosoft partnership a modest positive for Baidu, says Summit Research
Summit Research analyst Henry Guo said he considers Baidu's (BIDU) newly announced strategic partnership with Microsoft (MSFT) for the Edge browser in Windows 10 as a modest positive, but thinks it is likely only a headline positive in the near term. However, if Baidu were to strike a deal to become the default search engine for Internet Explorer, that would be "huge" for the Chinese company, Guo tells investors in a research note. The analyst has a Buy rating on Baidu shares.
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