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February 6, 2013
Stocks on Wall Street were mixed as the averages moved in a tighter range than they had during the first two trading sessions of the week. A quiet economic calendar, a light news flow and modest trading volume resulted in a quieter day for the market... ECONOMIC EVENTS: In the U.S., the Department of Energy reported that crude supplies grew by 2.62M barrels, roughly in-line with forecasts. In Japan, the governor of its central bank offered to step down three weeks before the end of his term, fueling speculation that accelerated and more aggressive stimulus measures may follow and sparking a 3.8% run-up in the Nikkei average... COMPANY NEWS: Dow component Walt Disney (DIS) opened the session at all time highs after the company's quarterly results beat consensus estimates. Citigroup also raised its price target on Disney stock to $63 from $54, but shares finished off their early highs, up 23c, or 0.42%, to $54.52... Elan (ELN) shares slid $1.06, or 10.13%, to $9.40 after the company agreed to sell its 50% interest in the Tysabri multiple sclerosis drug to Biogen (BIIB) for $3.25B in cash and future royalty payments. Biogen shares rose $3.62, or 2.3%, to $160.98 following the announcement... MAJOR MOVERS: Among the notable gainers was BIOLASE (BIOL), up 55c, or 19.43%, to $3.38 after receiving FDA clearance for a soft tissue laser device. Also higher was Metals USA (MUSA), up $2.35, or 12.84%, to $20.65 after agreeing to be acquired by Reliance Steel (RS) for $20.65 per share. Reliance steel also gained $5.56, or 8.59%, to $70.25 following the news. Among those trading higher after earnings were Shutterfly (SFLY), up $6.81, or 20.27%, to $40.40 and Take-Two Interactive (TTWO), up $1.78, or 14.06%, to $14.44. Among the noteworthy losers was GameStop (GME), down $1.61, or 6.01%, to $25.20 following a report suggesting the next version of Microsoft's (MSFT) Xbox video game system will not allow used games to be resold. Among those trading lower after earnings were C.H. Robinson (CHRW), down $6.51, or 9.71%, to $60.50 and Calix (CALX), down 83c, or 9.75%, to $7.68... INDICES: The Dow was up 7.22, or 0.05%, to 13,986.52; the Nasdaq was down 3.10, or 0.10%, to 3,168.48; and the S&P 500 was up 0.83, or 0.05%, to 1,512.12.
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November 20, 2015
08:31 EDTGMEGameStop volatility elevated into Q3 and outlook
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07:17 EDTBIIBBiogen says Benepali receives 'positive' opinion from CHMP
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07:16 EDTGMEGameStop should be bought on any weakness after results, says Oppenheimer
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06:20 EDTMSFTSony mulling bringing PS2 games to PS4, WSJ says
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November 19, 2015
08:18 EDTMSFTMicrosoft participates in a panel discussion
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November 18, 2015
16:01 EDTMSFTOptions Update; November 18, 2015
iPath S&P 500 VIX Short-Term Futures down 1.39 to 19.44. Option volume leaders: AAPL NBG TGT NFLX F FB QCOM SUNE GPRO MSFT
14:49 EDTMSFTEarnings Watch: Salesforce shares up 14% since last earnings report
Salesforce (CRM) is scheduled to report third quarter results after the market close on Wednesday, November 18, with a conference call scheduled for 5:00 pm ET. Salesforce is a provider of enterprise cloud computing solutions that include apps and platform services. EXPECTATIONS: Analysts are looking for earnings per share of 19c on revenue of $1.7B, according to First Call. The consensus range for EPS is 17c-20c on revenue of $1.68B-$1.72B. On its last earnings conference call, Salesforce gave Q3 EPS guidance of 18c-19c and revenue guidance of $1.69B-$1.7B. It also gave FY16 EPS guidance of 70c-72c and FY16 revenue of $6.6B-$6.63B. The company expects FY16 operating cash flow growth of approximately 34%-35%. Salesforce said it is now on pace to reach $7B run rate later this year. LAST QUARTER: On August 20, Salesforce reported second quarter EPS of 19c, beating the consensus analyst forecast of 18c. The company's revenue came in at $1.63B, topping the consensus estimate of $1.60B. It reported deferred revenue on balance of $3.03B as of July 31 and Q2 subscription and support revenue of $1.52B. Salesforce added that Q2 was the "best quarter ever" for the company due to momentum in Europe and growth in the adoption of its core platform. NEWS: Salesforce and Western Union (WU) announced an agreement for Western Union to use Sales Cloud, Community Cloud, Analytics Cloud and App Cloud to automate previously paper-based processes. Salesforce also announced plans to extend its strategic partnership with Microsoft (MSFT). The company said it would double its workforce in the Seattle area. STREET RESEARCH: Brean Capital said Salesforce should be a core holding due its new cloud targets, operating margin expansion and revenue growth in the 20%-30% range year over year. Jeffries said it was impressed with the company's DreamForce conference, but kept an Underperform rating on the stock because the net present value of new business may be negative for Salesforce at this time. In late September, Oppenheimer said that the company's checks were positive. It added that Salesforce's share of the market could be increasing and adds that Salesforce's platform strategy is becoming more popular with customers. PRICE ACTION: Salesforce shares are up over 14% since the company's Q2 report. In afternoon trading ahead of Thursday's report, Salesforce shares are up fractionally.
07:59 EDTCALXUBS to hold a conference
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November 17, 2015
18:58 EDTMSFTMicrosoft CEO says building new cyber defense center, NBC reports
Speaking at the Microsoft Government Cloud Forum on Tuesday, CEO Satya Nadella revealed plans to open a Cyber Defense Operations Center, gathering security experts from across the company's suite of products in order to respond to security threats in real-time, reports NBC. Reference Link
10:20 EDTGMEOptions with increasing implied volatility
Options with increasing implied volatility: SGMS HZNP CSC ULTA RH BURL GME AEO BBRY TIF
09:02 EDTMSFTAnalyst pans competing products, says buy Fitbit
Shares of previous high-flier Fitbit (FIT) have dropped about 30% in the last two weeks following the company's third quarter earnings report, but an analyst at Bank of America upgraded his view of the fitness tracker maker this morning, saying that now is the time to buy ahead of fourth quarter results that may be boosted by the "underwhelming" new products being launched by its competitors. UNDERWHELMING COMPETITION: Fitbit's sales guidance for this holiday quarter looks conservative, contends Bank of America analyst Nat Schindler, who notes that the company only had the launch of one new product last December but will have the Charge, Charge HR and Surge to drive sales this season. Schindler also notes that the company's international advertising has expanded into more countries ahead of the holidays this year. Key, however, may be the "underwhelming" lineup of new or updated fitness trackers launched by competitors, such as the Microsoft's (MSFT) Band 2, Jawbone's UP4 and Sony's (SNE) Smartband 2, many of which have only minor improvements and no "must have" features to pull consumers away from Fitbit, Schindler told investors in his research note. PLATFORM PICKING UP STEAM: The analyst also pointed out that Fitbit now has more than 20 companies signed onto its health and wellness platform, including big names like Target (TGT) and Barclays (BCS), which he believes should help drive revenue beats in the upcoming fiscal year due to increased device sales. Also, the additional dashboard data should help Fitbit maintain long-term user engagement, said Schindler. APPLE WATCH: Apple's (AAPL) Apple Watch is largely viewed as the biggest potential competitive threat to Fitbit's offerings, but on the fitness tracker maker's last earnings call CEO James Park said Fitbit's products differ from those of its competitors in several key aspects, including pricing, cross-platform compatibility, brand awareness and product line breadth. Other wearables makers include Garmin (GRMN) and Samsung. PRICE ACTION: Since the day after Fitbit's last earnings report after the market close on November 2, its shares have fallen about 29.5% to close yesterday at $28.80. In pre-market trading this morning, Fitbit shares rose 2% to $29.40.
07:56 EDTMSFTUBS to hold a conference
Global Technology Conference is being held in San Francisco on November 16-18 with webcasted company presentations to begin on November 17 at 10:45 am.; not all company presentations may be webcasted. Webcast Link
06:16 EDTMSFTMicrosoft turns around flawed security technology, NY Times says
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November 16, 2015
17:02 EDTMSFTPoint72 added to lululemon position, subtracted from Netflix position
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16:00 EDTMSFTOptions Update; November 16, 2015
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12:01 EDTDIS'Star Wars: The Force Awakens' to be available as Dolby Cinema experience
Dolby Laboratories (DLB) and The Walt Disney Studios (DIS) announced that Star Wars: The Force Awakens, in theatres December 18, will be available as a Dolby Cinema experience.
10:00 EDTDISOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abengoa (ABGB) downgraded to Hold from Buy at Canaccord... Best Buy (BBY) downgraded to Sector Perform from Outperform at RBC Capital... CDTi (CDTI) downgraded to Neutral from Buy at Roth Capital... CNH Industrial (CNHI) downgraded to Underweight from Neutral at JPMorgan... Clayton Williams (CWEI) downgraded to Sell from Neutral at Roth Capital... Disney (DIS) downgraded to Neutral from Buy at Guggenheim... Endo (ENDP) downgraded to Neutral from Buy at Mizuho... Five Below (FIVE) downgraded to Hold from Buy at Deutsche Bank... Garrison Capital (GARS) downgraded to Market Perform from Outperform at William Blair... General Growth (GGP) downgraded to Hold from Buy at Evercore ISI... Helmerich & Payne (HP) downgraded to Hold from Buy at Evercore ISI... Kosmos (KOS) downgraded on investor sentiment, costs at RBC Capital... MannKind (MNKD) downgraded to Neutral from Buy at Griffen Securities... Media General (MEG) downgraded to Hold from Buy at Evercore ISI... Progressive (PGR) downgraded to Sell from Neutral at Goldman... Sabra Health Care (SBRA) downgraded on challenges, investor sentiment at Stifel... Simon Property (SPG) downgraded to Hold from Buy at Evercore ISI... Springleaf (LEAF) downgraded after settlement on acquisition reached at BMO Capital... Steiner Leisure (STNR) downgraded to Market Perform from Outperform at William Blair... Taubman Centers (TCO) downgraded to Hold from Buy at Evercore ISI... TerraForm Power (TERP) downgraded to Neutral from Buy at UBS... UniCredit (UNCFF) downgraded to Neutral from Buy at Citi... Violin Memory (VMEM) downgraded to Hold from Buy at Maxim... Vipshop (VIPS) downgraded to Equal Weight from Overweight at Morgan Stanley... Wolseley (WOSYY) downgraded to Hold from Buy at Deutsche Bank.
06:19 EDTDISTV programmers negotiate promotional deals with Netflix, WSJ says
Television programmers are negotiating with Netflix (NFLX) over promotional content and branding opportunities, the Wall Street Journal reports. For example, Disney's (DIS) ABC negotiated a deal where Netflix subscribers watching the ABC program "How to Get Away with Murder" will first watch a four second shot of star Viola Davis alongside an ABC logo right before watching the show, the report says. Reference Link
06:18 EDTDISDisney downgraded to Neutral from Buy at Guggenheim
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November 15, 2015
19:29 EDTMSFTMicrosoft delays, possibly kills tool to translate Android apps, Re/code says
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