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Stock Market & Financial Investment News

News For DTEGY;AAPL From The Last 14 Days
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February 4, 2016
12:44 EDTAAPLOn The Fly: Top stock stories at midday
Stocks on Wall Street had an up and down morning, with the Dow swinging by triple digits in either direction. The market opened lower as oil prices lost their early gains, but as oil began to move higher so did stocks. When oil prices met resistance near the $34 a barrel level it began to pare its gains, once again taking stocks with it. The averages are now back in the green as investors await tomorrow's monthly jobs report. ECONOMIC EVENTS: In the U.S., the Labor Department said that productivity fell at an annual rate of 3% in the fourth quarter, marking the biggest quarterly decline in nearly two years and worse than the expected decline of 2%. Labor costs rose 4.5% in the fourth quarter, versus expectations for an increase of 4.3%. Initial jobless claims rose to 285,000 in the week ended January 30, versus expectations for 277,000 first-time claims. Factory orders declined 2.9% in December, versus expectations for them to be down 2.8% for the month. In Europe, the European Commission lowered its 2016 economic growth forecast for the 19-nation single currency area to 1.7% from the 1.8% expansion the commission had forecast in November. The Bank of England also cut its economic growth forecasts, saying it now expects Britain's economy to grow 2.2% this year and 2.3% next year, which is down from the 2.5% growth for 2016 and 2.6% in 2017 that it previously predicted. Additionally, the BoE maintained its bank rate and held the size of its asset purchase program steady. COMPANY NEWS: Shares of GoPro (GPRO) sunk to an all-time low after the action camera maker reported fourth quarter revenue that fell $60M short of expectations and guided toward sales in the new quarter that were even further below the consensus forecast. GoPro, which also guided to losses in the first quarter and named a new CFO, fell as low as $9.01 earlier in the session before cutting its losses to be down about 8% near noon... Sumner Redstone stepped down as Executive Chairman of both CBS (CBS) and Viacom (VIA, VIAB), being replaced by the CEOs of the companies in both cases. CBS shares were up 1% after Leslie Moonves was named the next Chair of its board, while Class A shares of Viacom were up about 1.5% after Philippe Dauman was selected to succeed Redstone... ConocoPhillips (COP) fell nearly 7% after the oil and gas explorer reported a worse than expected quarterly loss and slashed its dividend to 25c from 74c per share. CEO Ryan Lance said the decision to reduce the dividend was a "difficult one," but that the company believes it is prudent to plan for lower commodity prices for a longer period of time. MAJOR MOVERS: Among the notable gainers was Hersha Hospitality (HT), which rallied 14% after it announced that it signed agreements with Cindat to form a joint venture for seven of the company's hotels in Manhattan for $571.4M. Also higher was VirnetX (VHC), which gained 53% after it was awarded $625.6M in a verdict against Apple (AAPL) for infringing four VirnetX patents. In addition, GrubHub (GRUB) and ProtoLabs (PRLB) were up 15% and 12%, respectively, after reporting quarterly earnings. Among the noteworthy losers were Ralph Lauren (RL), Kohl's (KSS), and AstraZeneca (AZN), which were down 17%, 19%, and 7%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 70.02, or 0.43%, to 16,406.68, the Nasdaq was up 6.50, or 0.14%, to 4,510.74, and the S&P 500 was up 3.90, or 0.2%, to 1,916.43.
12:23 EDTAAPLApple says some users unable to make purchases
Apple on its Store Services page said that "some users may have been unable to access multiple stores/services or make purchases." Regarding its multiple iCloud services, the iPhone maker said, "New and recently changed content may not have updated across devices for iCloud Drive, Backup, iCloud Notes, iWork for iCloud, and Photos. Users may also have been unable to use multiple services at iCloud.com." Reference Link
11:29 EDTAAPLVirnetX win in Apple case should help in signing licenses, says Cowen
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11:15 EDTDTEGYBroadcom, Analog Devices seen as beneficiaries of cellular/Wi-Fi convergence
Shares of three companies involved in cellular and Wi-Fi technology -- Broadcom Limited (AVGO), Analog Devices (ADI), and Microsemi Corporation (MSCC) -- are all trading higher after a Sterne Agee research note suggested they would benefit from a trend toward the convergences of the two communications technologies. WHAT'S NEW: On February 3, Qualcomm (QCOM) and Deutsche Telekom (DTEGY) announced that, through the aggregation of licensed and unlicensed spectrum bands, recent testing demonstrated the ability of LTE Licensed-Assisted Access, or LAA, to extend coverage and increase network capacity, while delivering seamless mobility, and ensuring a fair coexistence with Wi-Fi in unlicensed spectrum. "LAA is one of the key technologies that will help satisfy the increasing demand for data and better mobile connectivity," said Deutsche Telekom Chief Technology Officer Bruno Jacobfeuerborn. "The trial will help the wireless ecosystem and key stakeholders verify and experience the benefits of LAA first hand." WHAT'S NOTABLE: Sterne Agee CRT analyst Douglas Freedman believes the line between cellular and Wi-Fi is likely to blur, pointing to the Qualcomm-Deutsche Telekom partnership as an example of this technology trend. Freedman said three stocks that could benefit from the shift are Broadcom Limited, given its premium RF filtering and Wi-Fi connectivity solutions, Analog Devices, because of its increased data converter content in small cell applications, and Microsemi Corporation, due to its Wi-Fi access point and timing enablers. The firm has Buy ratings on all three stocks. PRICE ACTION: In late morning trading, Broadcom was trading higher by 2.2%, Analog Devices was up fractionally and Microsemi rose 1%.
10:52 EDTAAPLChinese minister reccomends phone subsidies be extened, Taipei Times reports
National Development Council Minister Lin Chu-chia proposed that an economic stimulus program that includes subsidies for the purchase of energy-efficient home appliances and the replacement of 2G handsets with 4G smartphones be extended beyond its February 29 deadline to June, reported the Taipei Times. Reference Link
09:36 EDTAAPLActive equity options trading on open: AAPL FB GPRO AA NFLX BAC TWC YHOO PG
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09:31 EDTAAPLVirnetX awarded $625.6M verdict against Apple
VirnetX (VHC) announced a jury in the United States Court for the Eastern District of Texas, Tyler Division, in the case VirnetX Inc., et al. v. Apple (AAPL), No. 6:12-cv-00855, has awarded VirnetX $625.6 million in a verdict against Apple Corporation for infringing four VirnetX patents, marking the second time a federal jury has found Apple liable for infringing VirnetX's patented technology. The verdict includes royalties awarded to VirnetX based on an earlier patent infringement finding against Apple. The jury found that Apple's modified VPN On-Demand, iMessage and FaceTime services infringed VirnetX's patents and that Apple's infringement was willful. In addition to determining the royalty owed by Apple for its prior infringement, today's verdict also includes an award based on the jury's finding that Apple's modified VPN On Demand, iMessage and FaceTime services have continued to infringe VirnetX's patents.
09:18 EDTDTEGYSterne Agee CRT names three winners from convergence of cellular, Wi-Fi
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09:13 EDTDTEGYQualcomm, Deutsche Telekom say LAA technologies to enhance mobile broadband
Qualcomm (QCOM), through its subsidiary, Qualcomm Technologies, and Deutsche Telekom (DTEGY) announced that, through the aggregation of licensed and unlicensed spectrum bands, recent testing demonstrated LTE Licensed-Assisted Access' ability to extend coverage and increase network capacity, while delivering seamless mobility, for an enhanced end user experience. The over-the-air trial was completed on November 20, 2015, in Nuremberg, Germany after a three-week period of extensive measurement campaigns. The team measured and demonstrated LAA's extended coverage and increased network capacity in utilizing unlicensed spectrum compared to Wi-Fi, as well as smooth and opportunistic aggregation of unlicensed spectrum during drive tests which also included seamless inter-eNB handovers. The fair coexistence between LAA and Wi-Fi in unlicensed 5 GHz bands was also demonstrated under different radio interference conditions and for a varied number of interfering nodes, the companies announced yesterday.
05:52 EDTAAPLVirnetX Holding volatility elevated into winning $625M verdict against Apple
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05:13 EDTAAPLApple implied volatility of 27 at lower end of index mean range
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February 3, 2016
18:16 EDTAAPLVirnetX wins $625.6M in patent infringement case against Apple
VirnetX (VHC) won a $625.6M verdict today in favor of in a patent infringement lawsuit against Apple (AAPL), marking the second time a federal jury has found Apple liable for infringing VirnetX's patented technology. The verdict announced Feb. 3 in the U.S. District Court for the Eastern District of Texas in Tyler includes royalties awarded to VirnetX based on an earlier patent infringement finding against Apple that law firm Caldwell Cassady & Curry also won for VirnetX. The jury found that Apple's modified VPN On Demand, iMessage and FaceTime services infringed VirnetX's patents and that Apple's infringement was willful.
17:56 EDTAAPLVirnetX spikes 74% after Apple ordered to pay damages in patent dispute
17:39 EDTAAPLApple ordered to pay VirnetX $625M in patent ruling, Apple Insider says
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16:00 EDTAAPLOptions Update; February 3, 2016
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09:37 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL BAC FB YHOO GILD CMG NFLX GOOGL QCOM
06:56 EDTAAPLiPhone 7 may come with Flush Rear camera, MacRumors says
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06:38 EDTAAPLApple bought LegbaCore in November 2015, MacRumors says
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February 2, 2016
16:02 EDTAAPLOptions Update; February 2, 2016
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15:46 EDTAAPLEarnings Watch: Media networks report amid shifts in streaming, TV landscape
Comcast (CMCSA), CBS (CBS), Time Warner (TWX), Viacom (VIA), and 21st Century Fox (FOX) are among media companies expected to report quarterly results over the next several weeks. EXPECTATIONS: Comcast is expected to report EPS of 82c on revenue of $18.77B, CBS is expected to report EPS of 93c, Time Warner is expected to report EPS of $1.00 on revenue of $7.53B, Viacom is expected to report EPS of $1.18 on revenue of $3.26B, and Fox is expected to report EPS of 44c on revenue of $7.54B. LAST QUARTER: Comcast, Fox, and viacom reported mixed results for the previous quarter, while CBS and Time Warner beat on both top and bottom lines. NEWS: On November 10, Comcast announced it expanded its advanced fiber network to Modesto, California as part of the company's ongoing response to Google (GOOG) Fiber. On November 12, the Wall Street Journal broke news that Hulu, a video streaming joint venture of Disney (DIS), Comcast and Fox, is in talks to sell a stake to Time Warner, though the Journal said on January 31 that the company has expressed dissatisfaction with Hulu's inclusion of current-season TV episodes, which it believes contributes to cord-cutting. On December 2, the Wall Street Journal reported that YouTube was holding talks with Hollywood studios and production companies to seek content licenses amid intensified competition with Netflix (NFLX), Amazon (AMZN), and Hulu. On December 9, Re/code reported that Apple (AAPL), rumored to be working on a subscription TV service, walked away from its negotiations with the major networks after being pressed to include "filler" channels in its hypothetical service. Speaking at a January 7 media conference, Time Warner CFO Howard Averill said the company was negotiating to make full seasons of TV shows available to pay-TV customers on demand, mirroring the "binge watching" offered by Netflix. On January 8, the New York Post reported that Corvex Management was considering an activist position in Time Warner. That same day, Benzinga reported that Twenty-First Century Fox remained interested in the company and had made a $105 per share acquisition offer, though Fox later denied the report. On January 14, the New York Post reported that Comcast has begun "ripping up" agreements with cable networks, moving them from basic cable onto digital tiers in response to consumer demand for smaller bundles. On January 27, Reuters reported that SpringOwl Asset Management is urging Viacom to seek outside investment from strategic partners. On January 30, the New York Post reported that Nelson Peltz is considering an activist position in Time Warner. On February 1, the National Football League announced a broadcasting agreement with CBS and Comcast's NBC which will see the two companies paying roughly $225M each for rights to the next two seasons of Thursday Night Football. Also on February 1, it was reported that Fox offered certain employees voluntary buyouts as part of a $250M cost cutting target. STREET RESEARCH: On November 5, Wells Fargo analyst Marci Ryvicker downgraded Time Warner to Market Perform after its "huge" guidance cut last quarter, with the shares also seeing downgrades at CLSA and Bank of America Merrill Lynch. On December 22, Morgan Stanley analyst Benjamin Swinburne called Comcast one of his top large cap picks for 2016, saying the company can use skinny bundles to take market share and potentially add net video customers for the first time since 2006. On January 8, research firm Stifel cut its price target on CBS to $54 from $66, citing a belief that industry syndication and SVOD revenues will significantly decelerate going forward, with CBS having more exposure to those areas than its peers. Meanwhile, JPMorgan added the company to its U.S. focus list on January 11, citing its heavily discounted stock and potentially strong EPS growth in 2016. On February 1, Pacific Crest argued that Comcast shares should be owned going into fourth quarter results, contending that the company's video and broadband investments will likely translate to increased market share and strong cash flows this year. PRICE ACTION: Comcast and Fox, the first of the media giants to report quarterly earnings, are down 2% and 3.6%, respectively, amid the broader market selloff.
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