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Stock Market & Financial Investment News

News Breaks
July 21, 2014
12:10 EDTEXTR, VRX, EMC, KNDI, AGN, EZPW, ITRI, VMWOn The Fly: Midday Wrap
Stocks on Wall Street began the session in negative territory and have remained there throughout the morning. The focus has been on the events in both Israel and Russia, which have pushed earnings into the background for now. The President spoke this morning and called for an immediate ceasefire in Gaza and for the Russian separatists to stop tampering with evidence. The losses remain moderate as investors remain concerned about the world stage but are bracing for a number of huge earnings reports this week, including the latest sales figures from Apple (AAPL), Microsoft (MSFT) and Verizon (VZ). ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity Index dipped to 0.12 in June from a reading of 0.16 in May. The index has been in positive territory, reflecting above trend growth, since February. COMPANY NEWS: Shares of EMC (EMC) advanced 4% after the Wall Street Journal reported, citing sources, that activist investor Elliott Management has taken a stake of over $1B in the data-storage company and plans to push it to break itself up. Elliott reportedly believes EMC's stock would get a boost from spinning off VMware (VMW), in which it owns an 80% stake. Shares of VMware were down a bit over 1% following the Journal's report... Allergan (AGN) rose about 2% after the company's Q2 results and its FY14 outlook beat expectations. The company, which is working to fend off a proposed acquisition by Valeant Pharmaceuticals (VRX), also announced plans to cut its workforce by about 1,500 employees as part of a broader restructuring effort. In related news, Valeant announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business." MAJOR MOVERS: Among the notable gainers was Extreme Networks (EXTR), which rose 15% after the company raised its Q4 earnings per share outlook and narrowed its Q4 revenue view. Also higher were shares of Chinese electric car maker Kandi Technologies (KNDI), which gained 10% after a Chinese newspaper reported that electric cars made outside of China would not qualify for a key tax break in the country, though domestically-made ones would. Among the noteworthy losers was EZCORP (EZPW), which dropped 12% after it appointed CFO Mark Kuchenrither as its interim CEO and President and its stock was downgraded to Neutral from Buy at Sidoti. Also lower were shares of Itron (ITRI), which fell 8% after Bank of America Merrill Lynch downgraded the stock two notches to Underperform from Buy, citing its view that meter deployments will not support the stock's current valuation given continued delays and lower than expected margins. INDEXES: Near midday, the Dow was down 72.05, or 0.42%, to 17,028.13, the Nasdaq was down 17.99, or 0.41%, to 4,414.15, and the S&P 500 was down 8.27, or 0.42%, to 1,969.95.
News For EMC;VMW;AGN;VRX;ITRI;KNDI;EXTR;EZPW From The Last 14 Days
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April 21, 2015
17:26 EDTVMWVMware sees FY15 EPS $3.94-$4.02, consensus $4.00
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17:24 EDTVMWVMware sees Q2 adjusted EPS 90c-92c, consensus 92c
Sees Q2 revenue $1.58B-$1.6B, consensus $1.6B. Sees Q2 adjusted operating margin 30.25%. Guidance from company's Q1 earnings conference call. :
17:21 EDTVMWVMware sees FY15 revenue $6.57B-$6.69B, consensus $6.69B
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16:14 EDTVMWVMware down 2.2% after reporting Q1 results
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16:04 EDTVMWVMware reports Q1 license revenue $576M
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16:01 EDTVMWVMware reports Q1 EPS 86c, consensus 84c
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15:28 EDTEMCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Coca-Cola (KO), consensus 42c... Boeing (BA), consensus $1.81... McDonald's (MCD), consensus $1.06... EMC (EMC), consensus 36c... Abbott Laboratories (ABT), consensus 42c... Thermo Fisher Scientific (TMO), consensus $1.61... Bank of New York Mellon (BK), consensus 59c... TE Connectivity (TEL), consensus $1.01... T. Rowe Price Group (TROW), consensus $1.14... St. Jude Medical (STJ), consensus 91c... Amphenol (APH), consensus 56c... Nielsen (NLSN), consensus 47c... Citizens Financial Group (CFG), consensus 34c... Autoliv (ALV), consensus $1.31... D.R. Horton (DHI), consensus 38c... Westinghouse Air Brake Technologies (WAB), consensus 95c... Huntington Bancshares (HBAN), consensus 19c... SEI Investments (SEIC), consensus 49c... AutoNation (AN), consensus 89c... Gentex (GNTX), consensus 25c... Ryder System (R), consensus $1.00... Owens Corning (OC), consensus 13c... NuStar Energy (NS), consensus 58c... Six Flags (SIX), consensus (67c)... Tupperware Brands (TUP), consensus 98c... MarketAxess Holdings (MKTX), consensus 64c... Lithia Motors (LAD), consensus $1.22... Knight Transportation (KNX), consensus 31c... Evercore Partners (EVR), consensus 58c... Potlatch (PCH), consensus 19c... Natus Medical (BABY), consensus 29c... AZZ (AZZ), consensus 59c... United Community Banks (UCBI), consensus 29c... Sonus Networks (SONS), consensus (31c)... Angie's List (ANGI), consensus 0c... Pacific Premier Bancorp (PPBI), consensus 27c.
15:28 EDTVMWNotable companies reporting after market close
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14:39 EDTVMWVMware technical notes ahead of results
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14:34 EDTEMC, VMWEarnings Watch: EMC to report after several downgrades
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08:46 EDTEXTRExtreme Networks appoints Ed Meyercord as CEO
Extreme Networks appointed Board Chairman Ed Meyercord as its President and CEO effective April 19. Meyercord will be replacing Chuck Berger, who has resigned from his position and from the Board of Directors of Extreme Networks effective April 19. Having served on the Extreme Networks' board for over five years as an independent director, Meyercord brings a deep knowledge of the company and commitment to Extreme customers and employees.
08:41 EDTVMWOptions expected to be active
Options expected to be active: UA TEVA PRGO MYL UTX QCOM VMW HOG CMG IBM VZ
April 20, 2015
14:56 EDTVMWVMware volatility elevated into Q1 and revenue growth outlook
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April 17, 2015
13:31 EDTEMCSymantec approached NetApp, EMC about potential Veritas sale, Bloomberg says
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10:00 EDTEMCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: CECO Environmental (CECE) upgraded on several positive catalysts at Roth Capital... EMC (EMC) upgraded to Outperform from Market Perform at Bernstein... Fleetmatics (FLTX) upgraded to Overweight from Neutral at Piper Jaffray... NorthStar Asset Management (NSAM) upgraded to Buy from Hold at MLV & Co.... Penn National (PENN) upgraded to Overweight from Neutral at JPMorgan... Rosetta Genomics (ROSG) upgraded to Buy from Hold at Cantor... Ulta Salon (ULTA) upgraded to Buy from Neutral at Nomura... Xcel Energy (XEL) upgraded to Buy from Hold at Argus.
06:06 EDTEMCEMC upgraded to Outperform from Market Perform at Bernstein
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April 16, 2015
10:00 EDTVMWOn The Fly: Analyst Upgrade Summary
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05:57 EDTVMWVMware upgraded to Buy from Hold at Summit Research
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April 15, 2015
08:09 EDTVMWGood Technology and VMware resolve patent litigation
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April 14, 2015
17:34 EDTEMCGuidance Software appoints Patrick Dennis as CEO
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