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Stock Market & Financial Investment News

News Breaks
March 19, 2014
12:38 EDTHZNP, ORCL, OWW, FDX, RENN, FSLROn The Fly: Midday Wrap
Stocks on Wall Street were virtually unchanged at midday as investors await the latest rate decision and associated policy updates from the Federal Reserve. The market spent the morning consolidating its recent gains and stocks moved in a very narrow range since the open. Rates are expected to remain the same and Treasury purchases are expected to be reduced again. Investors and analysts will be paying close attention to the accompanying statement and press conference for clues as to any change in monetary policy. ECONOMIC EVENTS: In the U.S., the fourth quarter current account deficit narrowed to $81.1B, which lower than expected and down from a revised Q3 deficit of $96.4B. Investors await the FOMC meeting announcement, due at 2:00 pm ET, to be followed by Fed Chairwoman Janet Yellen’s press conference at 2:30 pm ET. COMPANY NEWS: Delivery giant FedEx (FDX) reported lower than expected third quarter revenue and earnings per share and lowered its FY14 outlook. Shares were down in pre-market trading but have bounced back to be up just slightly near midday as investors appear to be attributing the earnings miss to the severe winter weather, as the company explained... Another giant corporation, Oracle (ORCL), reported headline earnings and revenue for its last quarter than missed consensus expectations and its shares were down about 1% in midday trading. However, analysts at firms including Wells Fargo, Susquehanna and Stifel argued Oracle's underlying results were better than the headlines and contended the weakness was a buying opportunity. MAJOR MOVERS: Among the notable gainers was Horizon Pharma (HZNP), which advanced 14% after agreeing to buy Vidara Therapeutics through a reverse merger for stock and cash valued at about $660M to create a new company that will be organized under the laws of Ireland. Also higher was First Solar (FSLR), which jumped 14% after the company gave an earnings outlook for the current fiscal year that missed expectations but also guided to significantly better than expected earnings next fiscal year. Among the noteworthy losers after its earnings report was Renren (RENN), which operates a real name social networking Internet platform in China. The company's headline earnings beat the consensus forecast, but that was primarily due to a gain from the deconsolidation of its subsidiaries, and its shares dropped 10% following the report. Also lower was online travel company Orbitz Worldwide (OWW), which fell 9% after Goldman downgraded the stock to a Sell rating from Neutral. INDEXES: Near midday, the Dow was down 5.81, or 0.04%, to 16,330.38, the Nasdaq was down 4.41, or 0.1%, to 4,328.90, and the S&P 500 was down 0.52, or 0.03%, to 1,871.73.
News For FDX;ORCL;FSLR;OWW;HZNP;RENN From The Last 14 Days
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March 17, 2015
17:32 EDTORCLOracle says cloud bookings now growing 100% per year
17:30 EDTORCLOracle says will outsell Salesforce.com in new SaaS, PaaS business this year
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17:24 EDTORCLOracle says growing faster than Salesforce.com
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17:18 EDTORCLOracle sees Q4 EPS in constant currency 90c-96c, consensus 94c
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17:06 EDTORCLOracle up 3.38% after reporting Q3 financial results
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17:05 EDTORCLOracle Q3 Software and Cloud revenue up 7% in constant currency
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16:09 EDTORCLOracle says total Cloud SaaS, PaaS and IaaS revenues were up 33%
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16:05 EDTORCLOracle raises quarterly dividend 25% to 15c per share
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16:03 EDTORCLOracle says Q3 Software and Cloud revenues up 1% to $7.2B
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16:02 EDTORCLOracle reports Q3 EPS 68c, consensus 68c
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15:18 EDTFDXNotable companies reporting before tomorrow's open
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15:18 EDTORCLNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Oracle (ORCL), consensus 68c... Adobe (ADBE), consensus 39c.
15:03 EDTORCLWipro takes minority stake in Drivestream
Wipro (WIT) and Drivestream announced that they have signed an agreement to enter into a strategic partnership to build an integrated Cloud Solutions stack for customers. As part of this arrangement, Wipro is investing $5M in Drivestream, a leading Oracle (ORCL) cloud applications systems integrator. This is part of Wipro’s strategic drive to actively participate in the external innovation eco-system, for which the company has set up Wipro Ventures, a $100M fund focused on investing in disruptive start-ups.
14:38 EDTFDXFedEx technical comments ahead of earnings
The shares have been trading in a range largely bound by $170 at the low and $180 at the high since December of last year. So well-defined is the range that the 50-day moving average has gone flat, neatly bisecting the range at $174.63. These bounds may help us better understand where the shares may move following results. A breakout above $180 on strong news or outlook would resolve this range bullishly. The life high at $183.51 would very likely be tested, opening up a run to the $185 to $190 area. When ranges resolve, they tend to exhibit strong price reactions which could easily exceed the reaction expected by straddle pricing. On neutral news, the stock may fall near the 50-day moving average. If the news is a bearish surprise, we could expect the low of the range to be tested at the $170 area. It would take a break below that range low to turn the trend to bearish. Next support in that event would be at $167.62.
14:28 EDTFDXFedEx March 177 straddle priced for 3.6% movement into Q3
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13:15 EDTORCLOracle March 43.5 straddle priced for 5.1% movement into Q3
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08:34 EDTFDXFedEx March volatility elevated into Q3 and outlook
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March 16, 2015
14:02 EDTOWWMagnetar Financial reports 5.6% stake in Orbitz
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12:36 EDTORCLOracle March volatility increases into Q3 and outlook
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07:32 EDTORCLUBM Tech to hold a conference
Enterprise Connect 2015 is being held in Orlando, Florida on March 16-19.
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