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News Breaks | | | | November 16, 2011 | | 12:18 EDT |  | EPD, ZOOM, PEIX, TSRA, A, ANF, TYC, ADSK, DELL, TGT, ENB, UNIS | On 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. | |
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News For EPD;ENB;TGT;DELL;ADSK;TYC;ANF;A;TSRA;PEIX;ZOOM;UNIS From The Last 14 Days Check below for free stories on EPD;ENB;TGT;DELL;ADSK;TYC;ANF;A;TSRA;PEIX;ZOOM;UNIS the last two weeks. |
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| May 19, 2013 | | 12:22 EDT |  | ADSK | Autodesk to acquire Tinkercad, web-based 3D design software
Autodesk has signed a definitive agreement to acquire Tinkercad, an easy-to-use browser-based 3D design tool. The addition of Tinkercad to Autodesk will help broaden the popular Autodesk 123D family of apps and supports Autodesk’s vision to help anybody imagine, design and create anything. The acquisition will also revive the Tinkercad service and community, despite a previously announced shutdown by its founders and creators. This transaction is expected to have no impact on guidance issued on May 16. | | | May 17, 2013 | | 14:03 EDT | | DELL | Market set to finish week with gains after Cisco results, comments
 Subscribe for More Information | | | 12:05 EDT | | ADSK | On The Fly: Midday Wrap
Subscribe for More Information | | | 11:59 EDT |  | A | Options with decreasing implied volatility: ILMN LO A HES INFY CSCO
| | | 10:06 EDT |  | ADSK | Autodesk falls after results, levels to watch
Subscribe for More Information | | | 08:29 EDT |  | DELL | JPMorgan's business and information services analyst holds a conference call
Subscribe for More Information | | | 08:02 EDT |  | DELL | Dell results could increase votes for Silver Lake offer, says Wells Fargo
Subscribe for More Information | | | 07:47 EDT |  | ADSK | Autodesk downgraded to Sector Perform from Outperform at Pacific Crest
Subscribe for More Information | | | 07:08 EDT | | TSRA | Tessera says ISS, Glass Lewis recommend against Starboard control
Tessera announced that with addition of the report from Egan-Jones, proxy advisory firms including Institutional Shareholder Services and Glass Lewis have recommended that Starboard Value does not merit control of the company's board. ISS and Egan-Jones recommended for the company’s slate of nominees, Tessera added. | | | May 16, 2013 | | 18:56 EDT | | ADSK | On The Fly: After Hours Movers
UP AFTER EARNINGS: SINA (SINA), up 4.2%. ALSO HIGHER: Kansas City Southern (KSU), up 1.6% after it was announced the company would replace Dean Foods (DF) in the S&P 500 on May 23. DOWN AFTER EARNINGS: Autodesk (ADSK), down 6.5% after earnings, guiding its second quarter below expectations... Aruba Networks (ARUN), down 17.1% after earnings, guiding its fourth quarter below expectations... Nordstrom (JWN), down 3.5%... J.C. Penney (JCP), down 1.7%... Brocade (BRCD), down 2.4% after earnings, guiding its third quarter below expectations. | | | | 18:01 EDT | | DELL | Dell continues to expect 'relatively weak' demand in end-user PC business
Subscribe for More Information | | | 16:27 EDT | | TSRA | SAC Capital reports 5.0% passive stake in Tessera
Subscribe for More Information | | | 16:08 EDT | | ADSK | Autodesk falls sharply after results, first look
Subscribe for More Information | | | 16:06 EDT |  | ADSK | Autodesk sees Q2 EPS 39c-44c, consensus 51c
Subscribe for More Information | | | 16:05 EDT | | DELL | Dell reports Q1 enterprise solutions, services, software revenue up 12% to $5.5B
Subscribe for More Information | | | 16:04 EDT | | ADSK | Autodesk reports Q1 EPS 42c, consensus 45c
Reports Q1 revenue $570.4M, consensus $583.4M. | | | 16:02 EDT | | DELL | Dell not providing guidance for Q2
Subscribe for More Information | | | 16:01 EDT | | DELL | Dell reports Q1 adjusted EPS 21c, consensus 35c
Reports Q1 revenue $14.1B, consensus $13.52B. | | | 15:14 EDT | | ADSK, DELL | Notable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Dell (DELL), consensus 35c; Applied Materials (AMAT), consensus 13c; Nordstrom (JWN), consensus 76c; Autodesk (ADSK), consensus 45c; J. C. Penney (JCP), consensus (86c); SINA (SINA), consensus (3c); ViaSat (VSAT), consensus 2c; Brocade Communications (BRCD), consensus 15c; Aruba Networks (ARUN), consensus 15c. | | | 13:58 EDT | | DELL | Earnings Preview: Dell facing uncertainty about going private ahead of Q1 report
Dell (DELL) is set to report Q1 earnings after the market close on Thursday, May 16, with a conference call scheduled for 4:45 pm ET. Dell is a global IT company that operates enterprise, business, and consumer segments. EXPECTATIONS: Analysts are looking for EPS of 35c on revenue of $13.52B, according to First Call. The consensus range for EPS is 28c-42c on revenue of $12.6B-$14.22B. A report by Dow Jones earlier this week said Dell will report non-GAAP EPS of 20c on revenue of about $14B. LAST QUARTER: Dell reported Q4 adjusted EPS of 40c against consensus for 39c on revenue of $14.3B against estimates for $14.12B. On its Q4 earnings conference call, the company said it expects continued margin pressure and market competitiveness in 2013. GO-PRIVATE NEWS: On February 5, Dell officially announced that it had agreed to be taken private for $13.65 per share by a consortium lead by Silver Lake. On March 25, Dell announced it had received two alternative proposals during its go-shop process, which began following its February 5 announcement. These proposals included a $14.25 per share offer from Blackstone (BX), and a $15 per share offer from Carl Icahn and affiliated funds, including Icahn Enterprises (IEP). On April 19, Dell announced that Blackstone decided not to submit a bid for the company. Last Friday, Icahn and Southeastern Asset Management, which collectively hold about a 13% stake in Dell, submitted an alternative proposal to Dell's board. The Icahn and Southeastern proposal would allow Dell shareholders to receive a $12 per share cash distribution or $12 of additional shares valued at $1.65 per share. On Monday, the special committee of Dell's board asked Icahn and Southeastern for more information related to proposal, while Icahn and Southeastern proposed a slate of directors to the company's board that same day. COMPANY NEWS: In addition to news surrounding the company's go-private proposal, data regarding global PC demand has also weighed on Dell. On April 10, data from IDC said worldwide PC shipments totaled 76.3M in Q1, a 13.9% decline from the prior year period, which was worse than the expected decline of 7.7%. IDC also added that this year-over-year decline was the worst since the firm began its quarterly tracking of the PC market in 1994. On March 28, data released by Gartner said worldwide IT spending is projected to increase 4.1% in 2013 to $3.8T. PRICE ACTION: Shares of Dell have slid more than 2.5% since the first day of trading following its Q4 report. Following the March announcement that Dell received alternative proposals from Blackstone and Icahn, shares closed as high as $14.51 per share. Through April, however, shares of Dell slipped, including a sharp decline after disclosing Blackstone withdrew its offer, with shares closing as low as $13.09 per share. In afternoon trading ahead of its Q1 report, shares of Dell are down 0.2%, to about $13.42. | | |
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