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Stock Market & Financial Investment News

News Breaks
February 20, 2014
16:45 EDTJACK, BBRY, CONN, PRAA, TSLA, ONTX, WMT, FBOn The Fly: Closing Wrap
Stocks on Wall Street were higher despite mixed economic data and continued volatility in the political situations in Ukraine and Venezuela. The averages opened the session mixed and were all in negative ground by an hour into trading. However, the averages moved upward near mid-morning and powered higher throughout the session, closing near session highs. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 3K to 336K in the week ended February 15, which was generally in-line with expectations. The Consumer Price Index edged up 0.1% in January, as expected, and the core reading excluding food and energy also rose 0.1%. Markit's “flash” Purchasing Managers' Index for February rose to 56.7 from a prior 53.7 reading, beating expectations. The Philadelphia Fed manufacturing business outlook for February fell to -6.3, versus expectations for a much smaller pull back to 8.0 from its prior 9.4 reading. The Leading Index for January rose 0.3%, matching the consensus estimate. In China, factory activity appeared to shrink again in February, as the flash Markit/HSBC Purchasing Managers' Index fell to a seven-month low of 48.3 from January's final reading of 49.5. In Europe, Markit’s composite eurozone PMI fell to 52.7 from 52.9 in January. COMPANY NEWS: Facebook (FB) last night announced that it had agreed to buy mobile messaging service WhatsApp for $16B in cash and stock, with an additional $3B in restricted stock units to be granted to WhatsApp’s founders and employees that will vest over four years. Facebook shares, which initially sold off after the deal, closed the session up $1.57, or 2.31%, to $69.63. Shares of BlackBerry (BBRY), which has its own Blackberry Messenger messaging service, climbed 34c, or 3.77%, to $9.35 as analysts debated BBM's valuation relative to WhatsApp... Tesla Motors (TSLA) gained $16.33, or 8.43%, to a new all-time closing high of $209.97 after the electric car maker's earnings and 2014 delivery guidance of 35K Model S cars topped estimates... Wal-Mart (WMT) was the Dow's laggard, falling $1.33, or 1.78%, to $73.52 after its earnings guidance for the current quarter and new fiscal year trailed expectations. For the just-completed quarter, the retail giant reported in-line earnings and sales that were just below expectations. Also, the company raised its dividend 2% to $1.92 annually. MAJOR MOVERS: Among the notable gainers was Portfolio Recovery (PRAA), which added $8.92, or 17.67%, to $59.40 after last night announcing a deal to acquire Aktiv Kapital for $880M, a deal analysts at JMP Securities believe will be immediately accretive. Portfolio Recovery also reported earnings that were roughly in-line with expectations. Also higher following a better-than-expected quarterly report was Jack in the Box (JACK), up $4.26, or 7.97%, to $57.73. Among the noteworthy losers was Onconova (ONTX), which plunged $5.07, or 36.58%, to $8.79 after a Phase 3 trial of its rigosertib drug did not meet its primary endpoint. Also lower was Conn's (CONN), which fell $23.91, or 42.85%, to $31.89 after the company issued weaker than expect fourth quarter earnings guidance and lowered its fiscal 2014 and 2015 profit forecasts. INDEXES: The Dow was up 92.67, or 0.58%, to 16,133.23, the Nasdaq was up 29.59, or 0.7%, to 4,267.54, and the S&P 500 was up 11.03, or 0.6%, to 1,839.78.
News For FB;TSLA;BBRY;WMT;PRAA;JACK;ONTX;CONN From The Last 14 Days
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August 18, 2015
07:05 EDTWMTWal-Mart reports Q2 total revenue $120.2B, constant currency basis rev. $124.5B
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07:04 EDTWMTWal-Mart reports Q2 e-commerce sales up approx. 16%
E-commerce sales globally increased approximately 16% on a constant currency basis. Gross merchandise value, or GMV, increased approximately 18% on a constant currency basis. Q2 earnings were pressured by currency fluctuations, lower Walmart U.S. margins and investments in customer experience. Consolidated operating income declined 10%. CEO Doug McMillion says, "We're pleased that the investments we've made are helping to improve our business. Even if it's not as fast as we would like, the fundamentals of serving our customers are consistently improving, and it's reflected in our comps and revenue growth. In this case, our desired changes require investments, which are pressuring earnings this year. We're confident that our strategic plan will create robust sustainable growth for shareholder returns over time."
07:03 EDTWMTWal-Mart sees Q3 EPS 93c-$1.05, consensus $1.08
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07:03 EDTWMTWal-Mart cuts FY16 EPS view to $4.40-$4.70 from $4.70-$5.05
Consensus is $4.77.
07:02 EDTWMTWal-Mart reports Q2 EPS $1.08, consensus $1.12
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06:12 EDTWMTWal-Mart implied volatility of 23 at upper end of index
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August 17, 2015
19:54 EDTFBComcast online video platform to give creators 70% share of ad revenue, WSJ says
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19:29 EDTFBFacebook tests expanded blog capabilities, CNET says
Facebook (FB) is testing an expanded version of its "notes" feature, allowing users to include large background photos in the blog-like service, reports CNET. The new look puts the service more in line with Yahoo's (YHOO) Tumblr blogging platform, said the report, and a Facebook spokesperson remarked that the test aims to "make it easier for people to create and read longer-form stories on Facebook." Reference Link
16:00 EDTTSLA, FBOptions Update; August 17, 2015
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15:03 EDTWMTWal-Mart August 72 straddle priced for 3.6% movement into Q2
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14:48 EDTWMTNotable companies reporting before tomorrow's open
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14:08 EDTWMTWal-Mart August volatility increases into Q2 and outlook
Wal-Mart August call option implied volatility is at 41, September is at 23, October is at 20; compared to its 52-week range of 10 to 21 suggesting large price movement into the expected release of Q2 results on Aug 18.
12:44 EDTWMTEarnings Watch: Wal-Mart down more than 9% over last three months
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09:38 EDTTSLA, FBActive equity options trading on open
Active equity options trading on open: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT
09:26 EDTTSLAOn The Fly: Pre-market Movers
HIGHER: AVEO (AVEO), up 119.7% after announcing licensing agreement with Novartis (NVS)... OHR Pharmaceutical (OHRP), up 24.9% after Soros reports new stake in company in 13F filing... Kite Pharma (KITE), up 4.6% after saying patient death unrelated to KTE-C19... Tesla (TSLA), up 5.5% after price target raised to $465 from $280 at Morgan Stanley... Mobileye (MBLY), up 2.7% after price target raised to $80 from $71 at Morgan Stanley... J.C. Penney (JCP), up 1.5% after being initiated with a Buy at B. Riley and Piper Jaffray raised its price target to $17 from $15. DOWN AFTER EARNINGS: Estee Lauder (EL), down 2.1% after reporting quarterly results and giving guidance for first quarter and fiscal 2016. ALSO LOWER: KKR (KKR), down 3.3% after Samson enters restructuring deal and expects to file for bankruptcy within 30 days... Aquinox (AQXP), down 4.7% after Lloyd Mackenzie, vice president - Technical Operations and Planning, disclosed late Friday the sale of 35,887 shares worth over $670,000 in a sale related to the exercise of options.
07:42 EDTTSLANew Street-high target of $465 gives Tesla shares a charge
Shares of Tesla Motors (TSLA) are jumping after Morgan Stanley boosted its price target by $185 to $465, a new high among Wall Street analysts. The company is positioned to dominate as car sales shift to robot-driven and shared vehicles, the firm argues. SELLING MILES: Morgan Stanley analyst Adam Jonas raised his price target for Tesla Motors to $465 from $280, well above Friday's closing price of $243.15. Today, ten trillion vehicle miles are driven annually, with almost all of them delivered by "companies practicing a 100-year-old business model of human-driven, privately owned, internal-combustion vehicles," Jonas tells investors in a research note. General Motors (GM), Ford (F), Toyota (TM) and Honda (HMC) are among the publicly traded traditional carmakers. The market of selling cars is going through some fundamental changes, argues Jonas. He believes Tesla is "uniquely positioned" to dominate given its expertise in autonomous technology and networked machine learning. An app-based, on-demand mobility service could more than triple Tesla's potential revenues by 2029, the analyst estimates. He expects Tesla over the next 18 months to roll out formalized business plans on shared mobility, allowing the electric vehicle maker to sell miles in addition to cars. His new price target of $465 reflects Tesla's potential to lead the revolution of the shared mobility public transportation hyper-structure and more confidence around the commercial viability of Tesla Energy. ROBOT-DRIVEN: Jonas expects nearly all car sales to eventually shift from human-driven, individually-owned cars to robot-driven and shared cars. If Tesla wants to succeed on its mission of accelerating the world's transition to sustainable transport, the move to a shared mobility model is critical, he argues. All of Tesla's cars are electric, connected, and able to "learn" through over-the- air firmware updates at any time, which no other established automaker can claim today, Jonas writes. MARKET REACTION: Investors are buying into what Jonas is arguing. Shares of Tesla are up 5%, or $13.10, to $256.25 in pre-market trading. Over the past three months through Friday's close, the stock is down 2%.
07:39 EDTBBRYTMC to hold a conference
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07:29 EDTWMTWal-Mart dividend and valuation provides support, says Baird
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07:21 EDTWMTWal-Mart coverage transitioned with an Overweight at Stephens
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06:42 EDTTSLATesla price target raised to $465 from $280 at Morgan Stanley
Morgan Stanley analyst Adam Jonas raised his price target for Tesla Motors to $465 from $280, well above Friday's closing price of $243.15. Today, ten trillion vehicle miles are driven annually, with almost all of them delivered by "companies practicing a 100-year-old business model of human-driven, privately owned, internal-combustion vehicles," Jonas tells investors in a research note. The market is going through some fundamental changes, however, argues Jonas. He believes Tesla is "uniquely positioned" to dominate given its expertise in autonomous technology and networked machine learning. An app-based, on-demand mobility service could more than triple Tesla's potential revenues by 2029, the analyst estimates. He expects Tesla over the next 18 months to roll out formalized business plans on shared mobility, allowing the electric vehicle maker to sell miles in addition to cars. His new price target of $465 reflects Tesla's potential to lead the revolution of the shared mobility public transportation hyper-structure and more confidence around the commercial viability of Tesla Energy. Jonas keeps an Overweight rating on shares of Tesla. His new price target is a high among sell-side analysts on Wall Street.
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