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Stock Market & Financial Investment News

News Breaks
August 22, 2014
11:59 EDTATVI, EA, MSFT, NTDOY, GME, TTWO, SNEGameStop 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
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November 18, 2014
12:49 EDTMSFTMicrosoft, Real Madrid announce alliance
Real Madrid C.F. and Microsoft have signed a landmark agreement accelerating the digital transformation of the club through technology. This alliance, through which Microsoft becomes the strategic technological partner of Real Madrid, will revolutionize the experience enjoyed by members and supporters of the club by providing digital services that are accessible anywhere, anytime and on a host of devices.
10:34 EDTSNESony climbs after setting long-term targets for movie unit
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09:56 EDTSNEOn The Fly: Analyst Upgrade Summary
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07:36 EDTEAUBS to hold a conference
Global Technology Conference to be held in Sausalito, California on November 18-20 with webcasted company presentations to begin on November 18 at 10:45 am; not all company presentations may be webcasted. Webcast Link
06:46 EDTMSFTMicrosoft could spin off Nokia MixRadio, TechCrunch reports
According to sources, Microsoft (MSFT) is considering spinning off Nokia MixRadio, the music streaming service it acquired as part of its takeover of Nokia's (NOK) Devices and Services unit, TechCrunch reports. Microsoft is reportedly seeking investors for Nokia MIxRadio, and the potential spin-off is said to be making "good progress." Reference Link
06:40 EDTSNESony looking to boost movie entertainment revenue, Reuters reports
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06:39 EDTSNESony to re-evaluate support for free online music, WSJ says
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06:30 EDTSNESony upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Sony to Buy after the company gave Pictures and Music sales targets for FY17 saying it had undervalued management's strategic initiatives.
06:28 EDTSNESony targets FY17 Pictures sales $10B-$11B, Music sales $4.8B-$5.2B
Sony announced its financial targets for the Pictures and Music segments for the fiscal year ending March 31, 2018. For Pictures, Sony targets FY17 sales of $10B-$11B and operating income margin of 7%-8%. For Music, Sony targets FY14 sales of $4.8B-$5.2B and operating margin income 10.5%-11.5%. Sony also announced that it has increased its $250M in targeted overhead and procurement savings in its Pictures segment that it announced in November 2013, by $50 for a total of $300M. Sony expects the annualized savings to be fully implemented by the end of the fiscal year ending March 31, 2016. For FY15, Sony targets Pictures sales of $8.1B and Music sales of $4.8B.
06:10 EDTMSFTMicrosoft, Real Madrid to announce 'significant' partnership, Re/code reports
Microsoft is expected to today announce a "significant" tie-up with Real Madrid, a Spanish soccer team, Re/code reports. The partnership is likely to be a technology and sponsorship deal. Reference Link
05:55 EDTGMEStocks with implied volatility above IV index mean; GME LULU
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05:49 EDTMSFTStocks with implied volatility movement; MSFT UNG
Stocks with implied volatility movement; Microsoft (MSFT) 19, United States Natural Gas Fund (UNG) 57 according to iVolatility.
05:34 EDTEAElectronic Arts initiated with an Overweight at Barclays
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November 17, 2014
12:02 EDTMSFTSAP names new Chief Digital Officer, Chief Marketing Officer
SAP (SAP) announced that Jonathan Becher has been appointed as the company's first Chief Digital Officer to lead the company's new digital business unit with immediate effect. SAP has appointed Maggie Chan Jones as Chief Marketing Officer. Jones, who will join SAP from Level 3 Communications (LVLT), spent seven years at Microsoft (MSFT). She has extensive cloud experience having successfully navigated Microsoft's transition from on premise to a cloud business.
10:02 EDTSNEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: CyrusOne (CONE) upgraded to Buy from Hold at Stifel... MGIC Investment (MTG) upgraded to Conviction Buy from Buy at Goldman... NuVasive (NUVA) upgraded to Outperform from Market Perform at Wells Fargo... Phillips 66 (PSX) upgraded to Outperform from Neutral at Credit Suisse... Pinnacle Foods (PF) upgraded to Buy from Hold at Deutsche Bank... Rayonier (RYN) upgraded to Outperform from Sector Perform at RBC Capital.. Thoratec (THOR) upgraded to Outperform from Market Perform at Wells Fargo... Volcano (VOLC) upgraded to Outperform from Neutral at Credit Suisse... Progressive Waste (BIN) upgraded to Neutral from Underperform at Macquarie... Clean Harbors (CLH) upgraded to Outperform from Neutral at Wedbush... McGraw Hill Financial (MHFI) upgraded to Buy from Hold at Benchmark Co... Chesapeake (CHK) upgraded to Outperform from Market Perform at Bernstein... American Science & Engineering (ASEI) upgraded to Fair Value from Sell at CRT Capital... Sony (SNE) upgraded to Overweight from Equal Weight at Morgan Stanley.
08:28 EDTGMEGameStop Q3 results should be at high end of guidance, says Wedbush
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07:08 EDTGMEGameStop November volatility elevated into Q3 and outlook
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06:23 EDTMSFTFacebook working on 'Facebook at Work' website, FT reports
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06:05 EDTGMEStocks with implied volatility above IV index mean; GME LULU
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November 16, 2014
19:58 EDTSNEJapan's GDP contracts 1.6% in third quarter, WSJ says
Japan's economy has slumped into a recession in the third quarter as a sales tax increase resulted in firms cutting inventory and capital investment, says the Wall Street Journal. According to the Wall Street Journal report, Japan's real GDP in Q3 retreated 1.6% on an annualized basis against a median forecast for a 2.25% expansion. The setback in the country's growth will likely result in Prime Minster Shinzo Abe postponing a second sales tax increase, added the Wall Street Journal. Reference Link
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