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Stock Market & Financial Investment News

News Breaks
May 23, 2014
11:04 EDTGME, MSFT, SNE, WMTGameStop advances after profits beat expectations, outlook backed
Shares of multichannel video game retailer GameStop (GME) are rising this morning after the company reported better than expected first quarter profits and backed its fiscal 2014 guidance. WHAT'S NEW: GameStop reported Q1 earnings per share of 59c, which beat analysts' consensus estimate of 57c, and revenue of $2B, which was relatively in-line with an estimate of $2.03B. Consolidated comparable sales for the quarter increased 5.8%. For the quarter, the new hardware category grew 81.1% from the year-ago period, driven by strong worldwide consumer demand for Sony's (SNE) PlayStation 4 and Microsoft's (MSFT) Xbox One. The company said total market sales in the U.S. from launch through April of XBox One and PS4 hardware more than doubled the combined sales of Xbox 360 and PlayStation 3 hardware through their first six months of sales. Looking ahead, the company backed its fiscal year 2014 EPS view of $3.40-$3.70. The consensus forecast of analysts for FY14 EPS prior to the report was $3.68. Full year SSS are expected to be up 6%-12%. The company also forecast second quarter EPS of 12c-20c with SSS up 12%-19%. The consensus forecast for Q2 EPS prior to the report was 17c. WHAT'S NOTABLE: On its earnings conference call, GameStop CEO Paul Raines said the company is seeing "stronger" demand for the Xbox One as a result of the console's recent price drop last week, adding that the good news for the company is "we'll sell a lot more units." Also during the call, an analyst asked if GameStop's business has been impacted from Wal-Mart (WMT) recently entering the used game space. Raines said the company has not seen any impact from competitors entering the used game space and commented that "I would encourage you to go do some trades at all of our competitors, because I think all of them are in the trade business. We have a deep knowledge of how execution looks at all of those competitors and we do not have any impact from them." PRICE ACTION: GameStop is trading up $1.85, or about 5%, to $38.74 in mid-morning trading.
News For GME;MSFT;SNE;WMT From The Last 14 Days
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August 21, 2014
16:07 EDTGMEGameStop sees Q3 EPS 58c-64c, consensus 59c
Sees Q3 SSS up 1%-5%.
16:02 EDTGMEGameStop reports Q2 EPS 22c, consensus 18c
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15:15 EDTGMENotable companies reporting after market close
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14:52 EDTGMEGameStop technical comments ahead of results
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13:23 EDTWMTWal-Mart cut iPhone prices, Washington Post says
Wal-Mart (WMT) today began selling Apple's (AAPL) iPhone 5s for $79, and cut the price of the iPhone 5c to just 97c, according to The Washington Post. The devices previously cost $99 and $29 respectively at Wal-Mart, the newspaper stated. Reference Link
12:30 EDTMSFTMicrosoft plans to unveil Windows 9 on September 30, The Verge reports
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11:44 EDTMSFTHP hits 52-week high after solid revenue growth, positive analyst commentary
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10:34 EDTWMTOptions Update; August 21, 2014
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09:57 EDTGMEGameStop August weekly 41 straddle priced for 6.7% move into Q2
09:37 EDTWMTActive equity options trading on open
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09:04 EDTMSFTMicrosoft and TracFone announce collaboration
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06:26 EDTGMEGameStop August weekly volatility elevated into Q2 and revenue outlook
GameStop August weekly call option implied volatility is at 163, September is at 47, January is at 40; compared to it 26-week average of 43 according to Track Data, suggesting large near term price movement into the expected release of Q2 today.
August 20, 2014
08:30 EDTWMTWal-Mart management to meet with MKM Partners
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07:58 EDTMSFTBallmer stepping down a positive for Microsoft, says FBR Capital
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06:36 EDTMSFTIliad speaks to Google, Microsoft regarding T-Mobile offer, NY Post says
After Iliad's (ILIAF) surprise bid for T-Mobile (TMUS) was rejected, the firm is now in contact with , personnel at Google (GOOG) and Microsoft (MSFT) about working together to come up with a larger offer for the company, according to the New York Post, citing a "well-placed" source. Reference Link
August 19, 2014
17:14 EDTMSFTOn The Fly: Closing Wrap
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14:12 EDTMSFTBallmer steps down from Microsoft board, sees holding shares
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11:25 EDTMSFTHTC unveils the HTC One for Windows
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09:28 EDTGMEGameStop says CEO underwent unexpected surgery for tumor
GameStop disclosed in a regulatory filing that late last week Paul Raines, its CEO, underwent unexpected surgery during which a "very small, cancerous tumor was identified and successfully removed from an easily accessible part of the brain." The company added, "Because it was found very early, his doctors have advised him that his prognosis for a full and complete recovery is very good. The next step is for Paul to undergo preventive chemotherapy. Recovery from this process is expected to take about six weeks. This regimen will restrict his travel during that period, but will not interfere with his continued leadership of the Company." Daniel DeMatteo, Executive Chairman, said, "Speaking for the Board, we have every confidence in Paulís continued leadership and wish him a speedy recovery. While he recovers, our highly-tenured executive team will ensure that our business continues without interruption."
06:11 EDTGMEGameStop FY14 guidance likely in-line, says Piper Jaffray
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