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Stock Market & Financial Investment News

News For GE;DELL;GSK;AZN;BEN;AAPL From The Last 14 Days
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October 29, 2014
11:48 EDTAAPLCurrentC mobile payment system endures breach, Business Insider says
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09:42 EDTAAPLActive equity options trading
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09:05 EDTAAPLAerohive clarifies Wi-Fi infrastructure donated in support of Apple program
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07:53 EDTAAPLMCX member stores block Apple Pay amid threat of fines, NY Times says
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October 28, 2014
17:01 EDTAZNOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory despite two disappointing economic data points and a mixed report from social media giant Twitter (TWTR). The market moved in a narrow range for the opening half hour of trading but gained upside momentum following a much better than expected consumer confidence reading. The market continued to tack on points throughout the afternoon and closed at its highs, led by the Nasdaq, which gained 1.75% for the session. ECONOMIC EVENTS: In the U.S., durable goods orders fell 1.3% in September, significantly undershooting expectations for them to have rise 0.7% in the month. The S&P Case-Shiller home price report showed prices were lower on a seasonally adjusted basis in the month of August compared to the prior month. A reading of consumer confidence surged to a seven-year high of 94.5 in October from a revised 89.0 final reading for September. The Richmond Fed's manufacturing index rose 6 points to 20 in October, beating expectations for it to have pulled back to 10. COMPANY NEWS: Twitter (TWTR) sunk $4.78, or 9.84%, to $43.78 after the social media company reported in-line profit and higher than expected Q3 revenue, but also reported a slowdown in user growth and provided weaker than expected Q4 guidance. Following last night's report, the stock was downgraded at RBC Capital, Nomura and Bank of America Merill Lynch to "Hold" or equivalent ratings, while Stifel lowered its rating on Twitter shares to Sell from Hold... Shares of Pfizer (PFE) edged up 6c, or 0.21%, to $29.09 after the pharmaceutical giant reported third quarter adjusted earnings per share and revenue that were a bit better than expected and narrowed its fiscal year profit outlook. Of note, Pfizer said during its earnings conference call that while proposed rule changes have made "inversions" more difficult, that meaningful value from inversion deals can still exists on a "case-by-case" basis. Shares of AstraZeneca (AZN), which was previously a target of Pfizer, gained 67c, or 0.95%, to $71.43 following Pfizer's comments. MAJOR MOVERS: Among the notable gainers following their earnings reports were Whirlpool (WHR), which advanced $10.66, or 6.77%, to $168.06, Cummins (CMI), which gained $9.22, or 6.81%, to $144.59, and Cliffs Natural (CLF), which jumped $2.05, or 22.19%, to $11.29. Among the noteworthy losers was Kohl’s (KSS), which dropped $3.89, or 6.64%, to $54.66 after the department store operator’s outlook for third quarter same store sales and fiscal 2014 profit missed expectations. Also lower were shares of Coach (COH), which fell $2.15, or 5.95%, to $34.00 after the luxury handbag and accessory maker reported sales declined 9% on a constant currency basis in its first quarter. INDEXES: The Dow rose 187.81, or 1.12%, to 17,005.75, the Nasdaq advanced 78.36, or 1.75%, to 4,564.29, and the S&P 500 gained 23.42, or 1.19%, to 1,985.05.
16:08 EDTAAPLAerohive today's $50M market cap addition is too much, says at Northland
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16:00 EDTAAPLOptions Update; October 28, 2014
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14:10 EDTGSKGlaxoSmithKline liquidates passive stake in Amicus Therapeutics
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13:48 EDTAAPLAerohive Networks selected by Apple to provide Wi-Fi for ConnectED initiative
Aerohive Networks (HIVE) announced it will provide the Wi-Fi infrastructure to support Apple’s (AAPL) $100M contribution to ConnectED. Aerohive’s next-generation networking solutions will enable connectivity for Apple devices and supporting content, providing teachers a new set of tools to engage and inspire their students. Aerohive is the only Wi-Fi infrastructure company working with Apple on this initiative.
13:07 EDTAAPLNXP Semiconductors seen as beneficiary if Apple, Alibaba strike deal
Chip maker NXP Semiconductors (NXPI) would benefit significantly if Apple (AAPL) teams up with China's Alibaba (BABA) on a mobile payment system, research firm Sterne Agee wrote in a note to investors today. Alibaba founder Jack Ma and Apple CEO Tim Cook reportedly suggested last night that such a tie-up could occur. WHAT'S NEW: Alibaba founder Jack Ma said he's willing to collaborate with Apple regarding their mobile payment services, according to Reuters. Noting that Cook had suggested that there could be "a marriage" between Apple's mobile payment system, Apple Pay, and Alibaba's mobile payment system, Alipay, Sterne Agee analyst Vijay Rakesh wrote that such a deal would boost NXP Semiconductors, whose chips power NFC in Apple's iPhone 6 and 6 Plus. Alipay has a 70% share of the mobile payments market in China with about 550M users, Rakesh estimated. A deal between Apple and Alibaba would open up the China market to NXP Semiconductors and stimulate additional "domino effect" growth for NXP, the analyst stated. Raskesh reiterated his previous contention that the proliferation of mobile payment systems could increase NXP's EPS by 35c-70c per year by 2017, assuming that 50% of smartphones have mobile payment systems by that year. The analyst kept an $82 price target and Buy rating on NXP Semiconductors; shares. WHAT'S NOTABLE: A number of U.S. retailers, including CVS (CVS), Rite Aid (RAD), Wal-Mart (WMT), and Best Buy (BBY) have reportedly decided not to accept Apple Pay at this time. Cook countered yesterday that many other companies plan to utilize the system and indicated that the tech giant would look to expand the system to overseas markets. PRICE ACTION: In early afternoon trading, NXP Semiconductors rose 1.3% to $66.64. Meanwhile, Apple added 1.3% and hit a 52-week high of $106.50 and Alibaba gained 2% to $99.83.
12:57 EDTAZNOn The Fly: Midday Wrap
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12:56 EDTAAPLGT Advanced says litigation against Apple would be 'expensive,' WSJ reports
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11:56 EDTAAPLT-Mobile sees iPhone supply issues lasting through Q4
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10:23 EDTAZNPfizer says still looking at deals based on strategic fit
Pfizer (PFE) said during its earnings conference call that uncertainty around future tax actions remain a concern, but that the company is still looking for M&A opportunities. Pfizer says proposed rule changes have made "inversions" more difficult, but that meaningful value from inversion deals can still exists on a "case-by-case" basis. Shares of AstraZeneca (AZN), which was previously a target of Pfizer, are up 1.3% to $71.69 as Pfizer's earnings conference call continues.
09:37 EDTAAPLActive equity options trading
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09:37 EDTAAPLNXP Semiconductors would benefit from Apple, Alibaba deal, says Sterne Agee
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06:56 EDTAAPLWal-Mart rejecting Apple Pay for consumer 'best interests', Business Insider say
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06:44 EDTAAPLApple warns of 'event' that would cause people to think about privacy, BI says
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06:42 EDTAAPLMore than 1M credit cards registered on Apple Pay, Re/code says
More than 1M credit cards were registered on Apple's Apple Pay mobile payment system in the first 72 hours after the system was launched, Apple CEO Tim Cook said, according to Re/code. NXP Semiconductors (NXPI) and VeriFone (PAY) have been identified as other companies that could benefit from Apple Pay. Reference Link
06:38 EDTAAPLApple says Apple Pay in 220,000 locations already, Business Insider reports
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