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January 3, 2014
16:50 EDTS, JBLU, RAD, HMC, HLF, UAL, FEYE, F, AAL, DAL, TM, GMOn The Fly: Closing Wrap
Stocks on Wall Street were mixed in the second trading session of the year, with the Dow climbing, the Nasdaq falling, and the S&P 500 finishing virtually flat. Volume remained light, with snow in the northeast and the fractured holiday week perhaps keeping some market participants home. The averages traded in a modest range for much of the session, with commentary from some Fed members, including outgoing chairman Ben Bernanke, moving the markets in the final hour of trade. ECONOMIC EVENTS: In the U.S., the New York ISM fell to 63.8 in December from a prior reading of 69.5. Crude oil inventories fell by more than projected last week, drawing down by about 7M barrels. COMPANY NEWS: Automakers released their U.S. sales data for December, and among the notable reporters was General Motors (GM), which reported sales fell by over 6% during the month compared to last year and shares of the car-maker fell $1.38, or 3.37%, to $39.57 following the announcement. Ford (F) reported December sales grew by almost 2%, while Japanese manufacturers Honda (HMC) reported sales that rose 1.9% and Toyota (TM) saw sales drop 1.7%. Shares of computer-security firm FireEye (FEYE) gained $15.89, or 38.63%, to $57.02 after the company announced last night that it had bought privately held cybersecurity firm Mandiant in a deal valued at $1 billion. FireEye also raised its revenue outlook and analysts at Bank of America Merrill Lynch and JPMorgan increased their price targets on the stock. MAJOR MOVERS: Among the notable gainers was Rite Aid (RAD), up 43c, or 8.53%, to $5.47 after the company reported December same-store sales that rose 2.9%, with analysts at Deutsche Bank noting that this is the pharmacy's best growth in 21 months. Also higher was Delta (DAL), up $1.53, or 5.52%, to $29.23 after reporting that its Passenger Revenue per Available Seat Mile, or PRASM, was up 10% in December compared to the prior year. Delta's airline peers, including United Continental (UAL), up $2.22, or 5.88%, to $39.95, JetBlue (JBLU), up 45c, or 5.23%, to $9.05, and American Airlines (AAL), up $1.18, or 4.65%, to $26.54 also advanced. Among the noteworthy losers was Herbalife (HLF), down $2.74, or 3.43%, to $77.09 after the Federal Trade Commission announced it will hold a press conference next Tuesday to announce an initiative against "deceptive advertising of weight-loss products," though the FTC did not name the products or manufacturers it will target. Also lower was Sprint (S), down 46c, or 4.42%, to $9.94 after the stock was cut to Sell from Hold at Stifel, which said it is skeptical of the company's near-term M&A prospects. INDEXES: The Dow was up 28.64, or 0.17%, to 16,469.99; the S&P 500 was down 0.61, or 0.03%, to 1,831.37; the Nasdaq was down 11.16, or 0.27%, to 4,131.91.
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September 24, 2015
19:03 EDTSVerizon offers annual upgrade plan for iPhone users
In the wake of recent iPhone purchase plans announced by Sprint (S) and T-Mobile (TMUS), Verizon (VZ) announced that customers who purchase either the Apple (AAPL) iPhone 6s or iPhone 6s Plus with Verizon's Device Payment option will be eligible to get a new iPhone every year. "Yes, no more waiting for your contract to end... The new program allows you to turn in your phone and upgrade to a new iPhone every year," remarked the company. Verizon added that its customers will still have the option to pay off the phone without upgrading.
15:48 EDTAALBE Aerospace may become AA vendor amid rival's struggles, RGN says
American Airlines (AAL) is seeking a new vendor to supply business class seats for its Boeing (BA) 787-9 aircraft and 777-200 retrofit aircraft, after struggling with "chronic delays" from seat vendor Zodiac Aerospace, according to Runway Girl Network, citing an airline spokeswoman. Competitor B/E Aerospace (BEAV) had previously said it expected to pick up new business as a result of the Zodiac delays, but Runway Girl Network noted that it was not clear if B/E Aerospace would win American Airlines' new business. Reference Link
14:04 EDTSSprint CEO expects to have adequate supply of new iPhones, Re/code says
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12:34 EDTSSprint volatility at one-year high
Sprint October weekly call option implied volatility is at 78, October is at 71, November is at 72; compared to its 52-week range of 37 to 75, suggesting large price movement.
11:06 EDTJBLUJetBlue management to meet with Sterne Agee CRT
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10:19 EDTDALDelta increases service between New York-JFK and Tel Aviv
Delta Air Lines (DAL) will add four weekly year-round flights between its New York-JFK hub and Tel Aviv beginning May 26, 2016. The new flights will be available for sale beginning Saturday, Sept. 26, 2015. The additional flights will complement Delta's existing daily service to Tel Aviv for a total of 11 weekly flights between the two cities and third largest trans-Atlantic market. Delta will operate the added flights with a 291-seat, Boeing (BA) 777-200ER, which is Wi-Fi equipped so customers can stay connected at 30,000 feet.
10:03 EDTDALDelta adds nonstop service from Raleigh-Durham to Paris
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09:25 EDTFFord to host sales conference call
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09:22 EDTFFord exec says company does not use emissions 'defeat devices,' CNBC reports
Ford President of the Americas Joe Hinrichs said, while appearing on CNBC's Squawk Box, that Ford does not use "defeat devices and we clearly understand what it means from an integrity standpoint to make sure our vehicles perform on the road like they do in the lab." Hinrichs' comments come after Volkswagen (VLKAY) was accused by the EPA of installing a device in its diesel vehicles to mask their true emissions and after a German report said that a discrepancy with on-road emissions performance was found with an SUV made by BMW (BAMXY). Reference Link
09:22 EDTSSprint to offer iPhone 6s 16GB for $1 per month
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09:03 EDTGM, FAlcoa completes expansion of Tennessee facility
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07:55 EDTGMVW scandal strengthens Marchionne's quest for consolidation, Bloomberg says
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06:30 EDTSAltice to aggressively expand presence with Cablevision buy, Variety says
Altice's (ATCEY) proposal to acquire Cablevision (CVC) is a signal that Altice founder Patrick Drahi intends to extend his vision across the Atlantic, Variety says. Altice may just be getting started when it comes to shopping for U.S. media assets, and has already snatched some $40B worth of cable, wireless and telecom assets over the past two years, the report says. There's talk of Altice also going after a wireless firm such as Sprint (S) or T-Mobile (TMUS) to further its strategy for growth, the report says. Reference Link
September 23, 2015
20:08 EDTUAL, AAL, FEYEChinese president visits U.S. amid cybersecurity, copyright worries
As part of his first official U.S. visit, Chinese president Xi Jinping held a meeting with American business leaders on Wednesday to address concerns of copyright infringement and cybersecurity, among numerous topics. In attendance were corporate giants from both nations, including Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Cisco (CSCO), Alibaba (BABA), Tencent (TCEHY), and Baidu (BIDU), according to media reports. COPYRIGHT CONCERNS: Responding to oft-cited concerns of copyright infringement by Chinese companies, Xi said China will "stand firm to protect" the intellectual property rights of American companies, according to Wall Street Journal coverage of the event. Note that in late 2014, China began establishing specialized courts to deliberate on intellectual property rights cases, and Xi commented Wednesday that "the newly established IPR courts are working smoothly. This means there will be much stronger IPR protection which will serve the interests of foreign businesses as well as Chinese companies." Chinese consumer electronics company Xiaomi is perhaps the most talked-about firm when it comes to the matter, with media outlets frequently criticizing its alleged "copying" of Apple design sensibilities. In mid-July, Xiaomi VP of global operations Hugo Barra told Bloomberg that the company is preparing to enter U.S. markets, though he cautioned that the launch could be "much more" than a year away as it seeks to build up its patent portfolio. CYBERSECURITY TENSIONS: Wednesday's meeting comes in the wake of numerous high-profile "hack attacks," with Sony (SNE), American Airlines (AAL), Anthem (ANTM), United Airlines (UAL), and Target (TGT) all reporting digital security breaches in recent years. Xi has consistently denied the involvement of state-backed hackers, but tensions have nevertheless arisen as cybersecurity firms such as FireEye (FEYE) and Palo Alto Networks (PANW) backtrace connections to the country. Cybersecurity intrusions originating from China have recently slowed ahead of Xi's visit, according to Reuters, with Kevin Mandia of security firm Mandiant telling the publication, "In my gut, I feel like the Chinese and the U.S. over the next couple of years are going to figure this out."
19:07 EDTHMC, GM, TM, FStudy shows U.S. cars less safe than EU vehicles, Independent says
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12:36 EDTFEYEGovernment cyber attack affects larger number of fingerprint data
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12:16 EDTFEYEPiper says reseller event positive for Palo Alto, Imperva, CyberArk
Piper Jaffray analyst Andrew Nowinski says his investor briefing with a large security reseller yielded positive feedback on Palo Alto (PANW), Imperva (IMPV) and CyberArk (CYBR). The reseller's customers' top spending priority is now inside threat protection, which bodes well for Imperva and CyberArk, Nowinski tells investors in a research note. Further, their growth with Palo Alto continues to ramp and should exceed 50% in 2016, the analyst adds. Nowinski found comments around FireEye (FEYE) "slightly more cautious" with some viewing the Mandiant service organization as competitive to their professional service offerings.
11:19 EDTFEYEApple security breach larger than first thought, Sky News says
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09:55 EDTFActive calls on open: BIIB FCX X F INTC
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09:18 EDTGMPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
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