New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 22, 2014
11:59 EDTATVI, TTWO, SNE, EA, MSFT, NTDOY, GMEGameStop surges after Q2 EPS, revenue beat expectations
Shares of video game retailer GameStop (GME) are surging after the company reported second quarter earnings per share and revenue that surpassed analysts' consensus. WHAT'S NEW: GameStop's Q2 EPS was 22c, higher than analysts' 18c consensus. The retailer's Q2 revenue was $1.73B, which was better than analysts' consensus of $1.63B. GameStop's Q2 same-store-sales were up 21.9%. During the quarter, new hardware sales increased 124.8%, as worldwide demand for Microsoft’s (MSF) Xbox One and Sony’s (SNE) PlayStation 4 remained very high. New software sales grew 15.6% driven by the strong performance of recently released new titles, such as Ubisoft’s Watch Dogs and Nintendo’s (NTDOY) Mario Kart 8. GameStop anticipates Q3 EPS in the range of 58c-64c, which is in-line with analysts' 59c consensus. The company sees Q2 SSS to be up 1%-5%. The retailer anticipates FY14 EPS to be in the range of $3.40-$3.70, which falls in-line with analysts' consensus of $3.68 GameStop foresees FY14 SSS to be up 6%-12%. ANALYST OPINION: R.W. Baird raised its price target on GameStop to $52 from $50 after the company reported Q2 results "above expectations" which were prompted by strong demand for hardware, growing software sales, and increasing digital receipts. Baird said that advantages exist in the retailer's "technology brand" which remains on schedule for 300-400 openings for the year. Baird kept an Outperform rating on GameStop. Piper Jaffray feels that GameStop's guidance for the year could be "conservative" in the second half as SSS expectations look to be low in the midst of a quicker than anticipated uptake of next generation consoles along with strong software attach rates. Piper feels that the video game industry as a whole is still working through a console transition "air pocket," but still, noted that it foresees the optics of the video game market will get better in the second half when software sales become positive. The firm increased its price target on the stock to $53 from $52 while maintaining its Overweight rating. PRICE ACTION: In late-morning trading, GameStop climbed $2.43, or 6%, to $42.92. OTHERS TO WATCH: Publicly traded video game makers include Electronic Arts (EA), Take-Two Interactive (TTWO), and Activision Blizzard (ATVI).
News For GME;MSFT;SNE;NTDOY;EA;TTWO;ATVI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 >>
September 24, 2015
12:11 EDTMSFTMicrosoft partnership a modest positive for Baidu, says Summit Research
Summit Research analyst Henry Guo said he considers Baidu's (BIDU) newly announced strategic partnership with Microsoft (MSFT) for the Edge browser in Windows 10 as a modest positive, but thinks it is likely only a headline positive in the near term. However, if Baidu were to strike a deal to become the default search engine for Internet Explorer, that would be "huge" for the Chinese company, Guo tells investors in a research note. The analyst has a Buy rating on Baidu shares.
September 23, 2015
20:08 EDTMSFT, SNEChinese 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."
16:13 EDTMSFTMicrosoft partners with Baidu for Windows 10 upgrade
Subscribe for More Information
10:00 EDTMSFTMicrosoft and mcaConnect form joint program offering AX4Lean
Subscribe for More Information
09:18 EDTMSFTPaulson 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.
08:07 EDTMSFTDataStax announces strategic collaboration with Microsoft
DataStax announced a strategic collaboration with Microsoft to deliver Internet of Things, Web and mobile applications in public, private or hybrid cloud environments. With DataStax Enterprise available on Azure, Microsoft's cloud computing platform, enterprises can quickly build high-performance applications that can massively scale and remain operationally simple across public and private clouds, with ease and at lightning speed.
05:56 EDTEAReviews solid for EA's FIFA 16, says Piper Jaffray
Subscribe for More Information
September 22, 2015
12:54 EDTSNEGoPro CEO says market share has grown since Sony entered market
Subscribe for More Information
12:53 EDTSNEGoPro CEO says competitors like Sony have helped grow total reach
Subscribe for More Information
09:33 EDTMSFTActive equity options trading on open
Subscribe for More Information
07:52 EDTATVIActivision Blizzard price target raised to $36 from $30 at Baird
Subscribe for More Information
07:15 EDTMSFTCloudFlare raises $110M from consortium of Google, Microsoft, others
Subscribe for More Information
05:14 EDTMSFTIngram Micro to participate in Microsoft Cloud Solution program in India
Ingram Micro (IM) announced its participation in the Microsoft (MSFT) Cloud Solution Provider program in India. The program is designed to strengthen customer relationships and expand cloud sales by allowing channel partners to provision, bundle, invoice, manage and support Microsoft cloud offerings including Microsoft Office 365, Windows Intune, Enterprise Mobility Suite, Azure, and CRM online subscriptions with greater ease and efficiency.
September 21, 2015
16:53 EDTSNEOn The Fly: Top stock stories for Monday
Stocks on Wall Street began the session in positive territory and remained there for most of the morning. The Nasdaq was the first index to show signs of weakness after Hillary Clinton pledged to address the high cost of specialty drugs, sinking multiple biotech stocks. The averages later recovered from their afternoon lows, with both the Dow and S&P posting gains and the Nasdaq narrowly finishing in the green after Monday's drug pricing debate. ECONOMIC EVENTS: In the U.S., existing home sales fell 4.8% to a 5.31M rate in August, versus expectations for them to be down 1.6% to a rate of 5.5M. Over the weekend, three Federal Reserve officials, namely San Francisco Fed President John Williams, St. Louis Fed President James Bullard and Richmond Fed President Jeffrey Lacker, all argued that an interest-rate increase is still warranted this year. COMPANY NEWS: Biotech stocks declined after privately-held Turing Pharmaceuticals made headlines by enacting a 5,000% price increase on its treatment for toxoplasmosis, reigniting a debate around drug prices that previously embroiled costly Hepatitis C drugs including AbbVie's (ABBV) Viekira Pak and Gilead's (GILD) Sovaldi and Harvoni. Presidential candidate Hillary Clinton sent the debate to center stage by criticizing the "outrageous" prices of specialty drugs and promising to lay out a plan tomorrow to tackle "price gouging" in the specialty drug market. The NASDAQ Biotechnology index fell roughly 4.4% following the attention paid to Turing's drug and Clinton's response... Shares of Volkswagen (VLKAY) trading in New York dropped 17.1% to $30.10 after the EPA and California Air Resources Board detected manipulations that violate U.S. environmental standards while testing certain Volkswagen diesel cars. The EPA said Volkswagen may face civil penalties of $37,500 for each vehicle not in compliance with federal clean air rules, which could total as much as $18B, according to Reuters... Apple (AAPL), which has previously been reported to be working on an electric car via its "Project Titan," is speeding up those efforts and setting 2019 as a target to ship its first vehicle, according to The Wall Street Journal. Shares of Tesla Motors (TSLA) were volatile following the Journal's report, but closed the day up 1.37% at $264.20. MAJOR MOVERS: Among the notable gainers was Atmel (ATML), which surged 12.65%, to $8.19 after agreeing to be acquired by German chipmaker Dialog Semiconductor in a deal valued at roughly $4.6B. Also higher was Starwood Waypoint (SWAY), which gained $2.89, or 12.70%, to $25.64 after announcing a stock-for-stock merger agreement with Colony American Homes. Additionally, Pandora (P) rose 8.17% to $21.31 after receiving an interim opinion from the Register of Copyrights regarding the company's agreements with Merlin and Naxos. Among the noteworthy losers was GoPro (GPRO), which fell $2.88, or 8.19%, to $32.27 after Barron's contended that the company's stock could plunge another 30% to $25 as Apple, Sony (SNE), and others pressure the company's "one-hit wonder" products. Also lower was Mallinckrodt (MNK), which lost $8.23, or 10.02%, to $73.87 after ANI Pharma (ANIP) announced plans to acquire two new drug applications from Merck (MRK) that could compete with Acthar, Mallinckrodt's largest product. Separately, D.R. Horton (DHI) dipped 2.91% after the August U.S. existing home sales report showed a 4.8% drop for the month. Note also that Lennar (LEN) slipped 0.27% after its quarterly earnings report beat analyst estimates. INDEXES: The Dow rose 125.61, or 0.77%, to 16,510.19, the Nasdaq added 1.73, or 0.04%, to 4,828.96, and the S&P 500 gained 8.94, or 0.46%, to 1,966.97.
10:49 EDTSNEGoPro falls after Barron's predicts 'dramatic' drop in share price
GoPro (GPRO) shares fell in morning trading after an article from Barron's argued that the company's share price may drop to as low as $25. WHAT'S NEW: Alexander Eule argued in a Barron's article that GoPro's stock price may see a "dramatic" slip of as much as 30% to $25 due to significant competitive pressure from Apple (AAPL), Sony (SNE) and others. Eule noted that the company's shares have crashed to a recent $35 after peaking at $98 in October 2014 and even called the mostly bullish analyst views on the camera maker's stock "wishful thinking." Additionally, Eule called the company's cameras a "one-product wonder" and compares them to BlackBerry (BBRY) smartphones and Palm digital organizers, which previously dominated their respective markets. The article adds that there is risk in being overly bearish on the company, since the "impressive" brand might become an acquisition target. WHAT'S NOTABLE: Last Wednesday, Citi analyst Jeremy David said that GoPro chief financial officer Jack Lazar confirmed at the bank's Global Tech Conference the week before that the Hero4 Session camera has been off to a slow start since its launch on July 12. David said that the recent selloff in the company's shares has been motivated by investor concerns about the Session. At the time, Citi cut its third quarter fiscal 2015 estimate for the company to $425M from $438M and fourth quarter estimate to $560M from $737M, $148M below consensus estimate at the time of $708M. David also said he was reducing estimates for the second half of fiscal 2015 and first quarter of fiscal 2016 as a result of downside from the Hero4 Session, but left estimates after 1Q16 unchanged, saying the long-term fundamentals of the company are "intact." The analyst added that his firm was "humbled" by the recent move in share price and acknowledged that GoPro is the "quintessential product cycle stock," though he said he remains bullish on the long-term prospects of the camera maker and reiterated a $90 price target. David argued that GoPro missing Q3 estimates and guiding below the consensus for Q4 is largely priced in. Separately, The Wall Street Journal said on September 13 that shares of GoPro were starting to look like a bargain after dropping 50% in a month. The company had a difficult time selling its Hero4 Session camera in July in the face of competition from older GoPro models, the publication added. PRICE ACTION: In morning trading, GoPro shares are down 5.15% to $33.34. OTHERS TO WATCH: Ambarella (AMBA), which supplies chips to GoPro, is down 3.7% to $68.81.
07:13 EDTMSFTMicrosoft Office 365, Azure momentum improving, says Pacific Crest
After speaking with 20 Microsoft resellers, Pacific Crest says that the momentum of the company's Office 365 and Azure is improving. The firm is now more confident that the company's Q1 results are on track. It keeps a $55 price target and Overweight rating on the shares.
06:14 EDTMSFTSkype reports 'presence issues,' says working on fix
Skype says in an update, "Some of you may experience problems with Skype presence and may not see online. We have detected an issue with the status settings of Skype. Affected users will not be able to change their status, their contacts will all show as offline and they will be unable to start Skype calls to them. We're working on a fix for this issue and hope to have an update for you soon. Please accept our apologies for any inconvenience caused while we get this resolved." Reference Link
06:07 EDTMSFTMicrosoft cuts orders to supply chains for components, DigiTimes reports
Subscribe for More Information
September 20, 2015
19:48 EDTSNE'Maze Runner' sequel outpaces 'Black Mass'
Young-adult science fiction film "Maze Runner: The Scorch Trials" raced ahead of Johnny Depp-led crime biopic "Black Mass" in their respective weekend debuts. WEEKEND LEADER: Falling somewhat short of estimated sales in the range of $34M-$36M, Fox's (FOX, FOXA) "Maze Runner: The Scorch Trials" grossed $30.3M domestically for the weekend of September 20. The sci-fi action thriller's $61M budget nearly doubles that of the first "Maze Runner" film, building on a trend of dystopic young-adult films popularized by Lionsgate's (LGF) "The Hunger Games" and "Divergent." BOX OFFICE RUNNERS-UP: "Black Mass" from Time Warner (TWX) subsidiary Warner Bros. took in $23.4M for its domestic open. The Boston-based crime film garnered acclaim from critics and audiences alike, with particular praise given to Johnny Depp in the role of mobster Whitey Bulger. Meanwhile, Comcast (CMCSA, CMCSK) subsidiary Universal's horror thriller "The Visit" earned $11.4M in its second week in theaters, while Sony (SNE) thriller "The Perfect Guy" fell to fourth place with $9.7M. Rounding out this weekend's Top 5, Universal's disaster film "Everest" grossed $7.6M despite opening in just 545 theaters ahead of its wider release.
12:49 EDTSNEGoPro shares could fall another 30% to $25, Barron's says
Subscribe for More Information
1 | 2 | 3 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use