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Stock Market & Financial Investment News

News Breaks
November 16, 2011
12:18 EDTEPD, ZOOM, PEIX, TSRA, A, ANF, TYC, ADSK, DELL, TGT, ENB, UNISOn The Fly: Mid-Day Wrap
Stocks on Wall Street were lower at mid-day, as the price of crude spiked above $101. Futures were negative in the pre-market, leading to a lower open for the broader market. The averages moved quickly to the downside right out of the gate, marking session lows and remaining in a lower range for about the first hour of trade. The report on energy inventories from the DOE, followed by the close of trading in Europe, helped spark a move higher, but the attempt to retake the baseline fell flat. Near noon, the market is down about 0.6%, but off its lowest levels of the day... ECONOMIC EVENTS: Domestically, the Consumer Price Index fell 0.08% in October, versus the consensus estimate of unchanged. The "core" CPI, which excludes food and energy, rose 0.14%, versus the consensus estimate of a 0.1% increase. The Federal Reserve said that industrial production rose 0.7% in October. Economists had expected an increase of 0.4%. Capacity utilization also beat estimates, rising to 77.8%, compared with the forecast of 77.6%. The NAHB Housing Market Index had a 20 reading, beating expectations of 18. The DOE report on energy inventories showed that crude inventories dropped by 1.06M barrels, versus the consensus of a 1.20M draw. Gasoline inventories built by 992K barrels, versus the forecast of a 1.00M barrel draw. From Europe, the European Central Bank was believed to have bought Spanish and Italian bonds, though yields on both continue to be very high despite the intervention. Also, in Greece, the country's new Prime Minister passed his first test, winning a confidence vote. In Asia, Japan's central bank lowered its assessment of its economy and kept its key interest rate at virtually zero... MARKET NEWS: An announcement from Enterprise Products Partners (EPD) and Enbridge (ENB) that they would seek regulatory permission to reverse the direction of crude oil flows on the Seaway pipeline sent oil prices higher and the share prices of refiners lower... Target (TGT) reported Q3 adjusted EPS of 87c, soundly beating analyst estimates. Dell (DELL) reported Q3 earnings above estimates, but revenue fell below expectations as the company gave up “low-value” PC opportunities to preserve margins. Among others reporting, winners included Autodesk (ADSK) and Tyco (TYC); losers included Abercrombie & Fitch (ANF) and Agilent (A)... MAJOR MOVERS: Among the notable gainers were Tessera Technologies (TSRA), following Samsung Electronics exercising its renewal option in a license agreement with the company, and Pacific Ethanol (PEIX), after the company announced that it has retired in full its $35M senior convertible notes. Noteworthy losers included Zoom Technologies (ZOOM), after its Q3 revenue missed estimates and the company cut its FY11 revenue view, and Unilife (UNIS), which priced a 8.25M share secondary offering at $4.35... INDICES: Near noon, the Dow was down 77.91, or 0.64%, to 12,018.25; the Nasdaq was down 16.23, or 0.60%, to 2,669.97; and the S&P 500 was down 7.65, or 0.61%, to 1,250.16.
News For EPD;ENB;TGT;DELL;ADSK;TYC;ANF;A;TSRA;PEIX;ZOOM;UNIS From The Last 14 Days
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August 17, 2014
20:39 EDTTSRAPatent overhaul efforts seem to have stalled before November election, WSJ says
Legal experts say that it is unlikely that a full Congress will revisit the issue of patent reform before the election in November, says the Wall Street Journal. Large technology companies like Google (GOOG) and Microsoft (MSFT) are pushing Congress to reform patent laws to curb litigation from patent-holding firms, added the Wall Street Journal. Publicly traded companies in the space include Acacia Research (ACTG), Tessera (TSRA), Rambus (RMBS) InterDigital (IDCC) and Vringo (VRNG). Reference Link
August 15, 2014
15:03 EDTZOOMZoom Technologies files to delay 10-Q due to internal review
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12:43 EDTADSKAutodesk weakness a buying opportunity, says JPMorgan
JPMorgan attributes the post-earnings weakness in shares of Autodesk to investors concerns that the company's growth may be unsustainable and driven by promotional activity. However, the firm views the company subscriber additions positively and believes it will be able to continue to drive subscriber growth. JPMorgan maintains its Overweight rating on the stock and recommends the weakness be viewed as a buying opportunity.
11:20 EDTTGTOptions with increasing implied volatility
Options with increasing implied volatility: CRM URBN TGT
10:47 EDTADSKAutodesk hits fresh highs after earnings, turns negative
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09:10 EDTADSKOn The Fly: Pre-market Movers
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08:23 EDTADSKAutodesk price target raised to $65 from $58 at Cowen
Cowen raised its price target on Autodesk to $65 from $58 following its better than expected Q2 results. Cowen maintains its Outperform rating on the shares, citing healthy revenues and earnings, increases in total billings, and strong net subscription additions.
07:40 EDTADSKAutodesk price target raised to $66 from $60 at Pacific Crest
Pacific Crest raised its price target for Autodesk shares to $66 saying the company's Q2 results show it is successfully moving to the cloud. The firm keeps an Outperform rating on the stock.
07:38 EDTTGTTarget weekly volatility elevated into Q2 and new leadership outlook
Target August weekly call option implied volatility is at 29, September is at 19, January is at 20; compared to its 26-week average of 18 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on August 20.
August 14, 2014
19:08 EDTADSKOn The Fly: After Hours Movers
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16:10 EDTADSKAutodesk sees Q3 EPS 17c-23c, consensus 28c
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16:09 EDTADSKAutodesk raises FY15 revenue growth view to 7%-9%
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16:09 EDTAAgilent sees FY14 EPS $3.04-$3.08, consensus $3.07
Sees FY14 revenue $6.99B-$7.03B, consensus $6.99B
16:08 EDTAAgilent sees Q4 EPS 87c-91c, consensus 94c
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16:06 EDTADSKAutodesk reports Q2 EPS 35c, consensus 29c
Reports Q2 revenue $637.1M, consensus $603.39M. Reports billings increased 27% compared to the second quarter of fiscal 2014. Total subscriptions increased by approximately 74,000 from Q1
16:06 EDTAAgilent reports Q3 EPS 78c, consensus 74c
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15:03 EDTANotable companies reporting after market close
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14:37 EDTADSKAutodesk August 55 straddle priced for 6.2% move into Q2
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06:51 EDTADSKAutodesk August volatility increases into Q2 and outlook
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August 13, 2014
06:21 EDTTGTTarget says supply chain repair will relieve Canada worries, Reuters says
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