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March 18, 2013
Clean Tech Forum San Francisco is being held in San Francisco on March 18-20.
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November 13, 2015
09:27 EDTWMTWal-Mart upgraded to Buy from Neutral at Northcoast
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09:20 EDTEMCCisco CEO says 'certainly have ability to acquire'
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08:26 EDTMSFederal Reserve Board to hold a conference
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November 12, 2015
18:58 EDTGOOGT-Mobile in preliminary talks to include YouTube in 'Binge On' service, WSJ says
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18:19 EDTWMTWal-Mart workers group to launch 15-day protest into Black Friday, Reuters says
A Wal-Mart Stores worker group that has urged the retailer to increase pay and benefits is conducting a 15-day protest leading up to Black Friday to rekindle the fight for a $15 per hour minimum wage and more opportunities to work full time, Reuters reports. Reference Link
16:18 EDTBPBP awards FleetCor long-term contract
FleetCor Technologies (FLT) announced that BP Products North America (BP) has extended its contract with FleetCor to provide commercial fleet card processing and program management for all of its fleet card products.
13:24 EDTGOOGEarnings Watch: Cisco seeks to break out of trading rut with Q1 report
Cisco Systems (CSCO) is scheduled to report results of its fiscal first quarter after the market close on Thursday, November 12 with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 56c on revenue of $12.65B, according to First Call. The consensus range for EPS is 55c-59c on revenue of $12.55B-$12.81B. Along with its quarterly report, Cisco guided to Q1 EPS of 55c-57c and said it expects its revenue to increase 2%-4% year over year. LAST QUARTER: On August 12, Cisco reported fourth quarter EPS of 59c on revenue of $12.8B, beating consensus estimates of 56c and $12.65B for EPS and revenue, respectively. NEWS: On its Q4 earnings conference call, Cisco said that it was looking at acquisitions at the right price, particularly in areas like software and security. On August 31, Apple (AAPL) and Cisco announced a partnership to build a "fast lane" for iOS business users by optimizing Cisco networks for iOS devices and apps, integrating iPhone with Cisco enterprise environments and providing unique collaboration on iPhone and iPad. The next day, Cisco was among multiple other companies, including Amazon (AMZN), Google (GOOG), Intel (INTC), Microsoft (MSFT), Mozilla, and Netflix (NFLX), announcing the formation of the Alliance for Open Media to build next-generation media formats, codecs, and technologies in the public interest. On September 3, Business Insider reported that people at Cisco still though that chairman John Chambers was running the show as chief executive officer after appointing Chuck Robbins to that role last May. On September 15, Mandiant, a FireEye (FEYE) subsidiary, said in a blog post that researchers discovered previously unknown attacks on certain routers and that such attacks replace the operating system used in Cisco equipment. About a week later, the Wall Street Journal reported that Cisco was aiming to strengthen its business in China by joining forces with Inspur group, a move which was confirmed on September 24. On October 29, Cisco announced its intention to acquire 1 Mainstream. CNBC later reported that the company paid $100M-$150M to acquire 1 Mainstream. On November 9, Ericsson (ERIC) and Cisco announced a global business and technology partnership to "create the networks of the future." The companies said that the strategic partnership will be a key driver of growth and value for the next decade, with each company benefiting from incremental revenue in calendar year 2016 and expected to ramp to $1B or more for each by 2018. STREET RESEARCH: On August 17, Morgan Stanley downgraded Cisco to Equal Weight from Overweight and maintained a $30 price target on the stock, saying it did not believe improved growth is "secular" and anticipates growth will revert to GDP like levels as the upgrade cycle concludes. Wells Fargo said on August 28 that a 10% selloff in communication tech stocks, including Cisco, had created an attractive buying opportunity. Bernstein said a week later that Cisco, Juniper (JNPR), and F5 Networks (FFIV) should be bought on wider macro economic weakness. On October 6, Citi initiated coverage of Cisco with a Buy rating and $30 price target. A week later, Barclays initiated coverage of Cisco with an Overweight rating and a $32 price target. On November 9, RBC Capital maintained an Outperform rating and $33 price target on Cisco, saying it expects the company to report slightly better than expected results. The next day, SunTrust maintained a Buy rating on Cisco, saying its partnership with Ericsson was a positive and should strengthen Cisco's service provider business. PRICE ACTION: In afternoon trading ahead of tonight's report, Cisco shares were up 0.5% to $27.97. In the last three months, Cisco shares are fractionally higher and virtually unchanged when discounting this afternoon's slight rise.
12:38 EDTGOOGYouTube launches Music app
YouTube has launched the YouTube Music app for iOS and Android. In a blog post, the company commented, YouTube is offering a free 14-day trial of premium mode. "No matter where you start in the app, the music will never stop. Every song you play or artist you choose will take you on an endless journey through YouTube's music catalog. A simple tap and you're on your way, enjoying your favorite music and discovering new artists effortlessly. The home tab will recommend tracks just for you and create personalized stations based on your tastes." Reference Link
11:07 EDTEMCVMware rallies after canceling conference appearances
Shares of VMware (VMW) are rallying after the company cancelled its appearances at two upcoming industry conferences being held by Credit Suisse and UBS, according to sources. VMware is "following the lead of EMC" by not appearing, a person familiar with the matter told The Fly. VMware rallied on Tuesday after Re/code's Arik Hesseldahl reported that EMC's (EMC) planned merger with Dell could be complicated or derailed by potential tax issues. Wells Fargo analyst Maynard Um wrote yesterday in a research note downgrading EMC that a "wide range of potential outcomes" exist regarding the EMC, Dell merger. He views the ideal scenario as Dell and EMC selling off assets or spinning off Pivotal in early 2016 coupled with a buy-in of VMware.
09:19 EDTGOOGPayPal sinks with Apple eyeing peer-to-peer payments
Shares of PayPal (PYPL) are weak again this morning following a report yesterday afternoon alleging that Apple (AAPL) is set to launch a competitor to one of the payment technology company's offerings. Analysts that were already split about PayPal's prospects are also divided on the potential impact of Apple's entry, with a bull at Citi downplaying the risk and a bear at Piper Jaffray voicing greater concern. APPLE COMPETITION: Apple is in talks with U.S. banks to create a mobile person-to-person payment service, reported The Wall Street Journal yesterday afternoon, citing people familiar with the matter. Apple's service, which would likely be linked to the company's Apple Pay system and could get off the ground next year, would compete with PayPal's Venmo peer-to-peer, or P2P, payment platform, the Journal said. BULLISH TAKE: Citi analyst Ashwin Shirvaikar says his Buy thesis on PayPal is unchanged after the Journal's report regarding Apple's efforts. Apple is a "viable competitor in a crowded field," but its product is unlikely to change the near-term growth trajectory of PayPal's Venmo, Shirvaikar told investors in a research note. He keeps a Buy rating on PayPal with a $44 price target. BEARISH TAKE: Piper Jaffray analyst Gene Munster believes Apple's reported plans for a P2P payment offering sometime in 2016 will have limited to no impact on his model for the iPhone maker, but cautions that more mobile wallets offering P2P will add to the challenges facing PayPal's Venmo. The analyst believes the "real estate for all logos at the point-of-sale will be scarce and cluttered," noting that in addition to new entrants like Apple Pay, Samsung Pay, Google's (GOOG) Android Pay, JPMorgan's (JPM) Chase Pay, MCX/CurrentC and PayPal there are still legacy players such as Visa (V) Checkout, MasterCard (MA) Masterpass, and American Express' (AXP) Express Checkout. Munster thinks Venmo is a strong offering that will keep gaining share, but in addition to competition, he sees low interest rates hindering float income and thinks the value proposition for consumers and merchants remains "uncertain." The analyst keeps an Underweight on PayPal, which is the firm's equivalent of a "sell" rating, with a $30 target for its shares. PRICE ACTION: Shares of PayPal slipped 1.8% to close at $36.33 yesterday following the Journal's report. In pre-market trading, the stock fell another 1% to $36 per share.
08:01 EDTWMTJuniper names Kevin Walker as Security Chief Technology Officer
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06:17 EDTWMTWal-Mart starts Black Friday earlier on Thanksgiving day, WSJ says
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06:12 EDTMSMorgan Stanley to offer wealth management clients savings accounts, Reuters says
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November 11, 2015
18:45 EDTGOOGGoogle may face competitive hurdles in China, WSJ says
Google (GOOG) could face intense competition in China even as it looks to secure government approval to launch its Google Play mobile app store in the country, reports the Wall Street Journal. After pulling its services from China roughly five years ago over censorship issues, local rivals Baidu (BIDU), Xiaomi, and others have gained significant footholds. Sources in the Chinese internet industry told the Journal it "shouldn't be too difficult" for Google to obtain regulatory approval for Play, and the app store may in fact be Google's best chance of penetrating the region, given the high fragmentation and security issues of local offerings. Reference Link
14:31 EDTGOOGAlphabet Inc volatility near historic low as shares trend to record high
Alphabet Inc (GOOG) November weekly call option implied volatility is at 18, November and December is at 19; compared to its 52-week range of 17 to 42, suggesting decreasing price risk as shares trend to record high.
09:59 EDTEMCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Amedisys (AMED) downgraded to Neutral from Buy at Mizuho... Apple Hospitality REIT (APLE) downgraded to Neutral from Buy at Ladenburg... BioCryst (BCRX) downgraded to Underperform from Neutral at BofA/Merrill... Boot Barn (BOOT) downgraded to Hold from Buy at BB&T... C1 Financial (BNK) downgraded to Market Perform from Outperform at Raymond James... Clarcor (CLC) downgraded to Market Perform from Outperform at Avondale... EMC (EMC) downgraded to Market Perform from Outperform at Wells Fargo... Eaton (ETN) downgraded on near-term challenges at Argus... Keurig Green Mountain (GMCR) downgraded to Negative from Mixed at OTR Global... Lennox (LII) downgraded to Neutral from Overweight at JPMorgan... Mediaset (MDIUY) downgraded to Hold from Buy at HSBC... MetLife (MET) downgraded to Equal Weight from Overweight at Morgan Stanley... Metaldyne Performance (MPG) downgraded to Equal Weight from Overweight at Barclays... Oracle (ORCL) downgraded to Equal Weight from Overweight at Morgan Stanley... Penn Virginia (PVA) downgraded to Hold from Buy at Canaccord... Rex Energy (REXX) downgraded to Market Perform from Outperform at Northland... Rice Energy (RICE) downgraded to Neutral from Buy at Goldman... Rockwell Automation (ROK) downgraded to Underperform from Outperform at CLSA... Sabra Health Care (SBRA) downgraded to Neutral from Buy at SunTrust... SanDisk (SNDK) downgraded to Market Perform from Outperform at Bernstein... Vestas Wind (VWDRY) downgraded to Hold from Buy at HSBC.
08:25 EDTGOOGFederal claims dismissal in Google browser tracking suit upheld, Reuters reports
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07:07 EDTWMTWal-Mart volatility elevated into Q3 and outlook
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06:32 EDTEMCEMC downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Maynard Um downgraded EMC (EMC) to Market Perform and cut his price target range for shares to $25-$28 from $29-$30. The closed yesterday down 58c to $25.25. The analyst says valuing the proposed tracking stock proposed by Dell is a "significant challenge." Um also highlights yesterday's report by Re/code's Arik Hesseldahl which noted EMC's merger with Dell could be complicated or derailed by potential tax issues. Disruption from the deal could have an adverse impact on EMC's business, the analyst argues. Um believes there could still be "wide range of potential outcomes" regarding the planned EMC, Dell merger, and views the ideal scenario as selling off assets or spinning off Pivotal in early 2016 coupled with a buy-in of VMware (VMW).
06:19 EDTGOOGAppNexus talks to Goldman, other banks about IPO plans, Business Insider reports
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