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Stock Market & Financial Investment News

News For GOOG;AAPL;NOK;P;AMZN From The Last 14 Days
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August 3, 2015
16:53 EDTAMZNAmazon limits sharing of Prime memberships, Consumerist says
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16:00 EDTAAPLOptions Update; August 3, 2015
iPath S&P 500 VIX Short-Term Futures down 10c to 15.92 Option volume leaders: AAPL MWE TWTR FB RIG BAC DIS WMB NFLX CHK XOM CCE
14:41 EDTAAPLApple breaks down below support at $120, levels to watch
Shares were last at $118.59, off the session low at $117.52 which is now support. Below the low of the day next support is at $115.56. Resistance is at $120.
13:38 EDTAAPLApple weekly volatility increases as shares trend lower
Apple August weekly call option implied volatility is at 32, August is at 29, September and October is at 27; compared to its 52-week range of 15 to 36, suggesting larger near term price movement.
13:32 EDTAMZNNY AG confirms toy gun sales settlement with Amazon, Walmart, others
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11:28 EDTAAPLApple in talks to launch MNVO service in US and Europe, Business Insider says
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11:04 EDTAMZNAmazon, Wal-Mart, others settle toy gun sales probe in NY, Bloomberg says
Five retailers, including Amazon (AMZN) and Wal-Mart (WMT) have agreed to pay over $300,000 to end an investigation in New York into alleged sales of toy guns that were deemed too realistic, Bloomberg reports. Under an agreement to be officially announced later, the retailers, which also include Kmart, Sears (SHLD), and ACTA, will pay fines and create procedures to ensure that illegal toy guns are not sold in the state of New York, the report says. Reference Link
10:17 EDTNOKTomTom exploring options that could lead to sale, Bloomberg reports
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09:38 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL FB AAL TWTR MU BAC NFLX ABX FIT
07:08 EDTAAPLApple testing voicemail service for Siri, Business Insider reports
Apple is testing a voicemail service whish uses Siri to answer calls and transcribe voicemails, Business Insider reports. The new service is planned for launch in 2016, the report says. Reference Link
06:01 EDTGOOGStocks with implied volatility below IV index mean; TEVA GOOG
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05:56 EDTAAPLUBS sees Apple shipping 13M more iPhones in FY16
UBS analyst Steven Milunovich now believes Apple can ship 245M iPhones in its 2016 fiscal year, up from his previous estimate of 232M. A key debate among investors is whether iPhone shipments can grow in the fiscal year, Milunovich writes in a research note. He believes they can with potential upside from new customers additions. Phone upgrades are roughly two-thirds of iPhone shipments and are fairly predictable, he points out. And half of China buyers are new to Apple, the analyst notes. "The iPhone does have legs," Milunovich concludes. He views upside to iPhone estimates from new users as a potential catalyst for stock appreciation and keeps a Buy rating on Apple with a $150 price target. The shares closed Friday down $1.07 to $121.30.
05:47 EDTPPandora shares remain undervlaued, says Piper Jaffray
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05:38 EDTNOKNokia to sell HERE to automotive industry consortium for EUR 2.8B
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August 2, 2015
20:27 EDTAAPLSilicon Valley shuttle drivers approve three-year union contract, WSJ says
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19:11 EDTNOKGerman auto group to buy Nokia mapping unit for $3.2B, Reuters says
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16:52 EDTAMZNAlibaba, others invest $500M in India's Amazon.com rival, Re/code says
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16:14 EDTAAPLApple CEO toured BMW electric vehicle factory, Reuters says
Apple (AAPL) CEO Tim Cook and other senior executives travelled to BMW (BAMXY) headquarters last year and toured its Leipzig factory to gather data on electric car manufacturing, reports Reuters, citing two sources familiar with the matter. Collaboration talks ended without a definite conclusion because Apple appeared to want to pursue its own car development, said one the sources. Reference Link
13:17 EDTAAPLLG Display shares could rise 40% in one year, Barron's says
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July 31, 2015
16:00 EDTAAPLOptions Update; July 31, 2015
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11:22 EDTNOKGerman luxury auto group close to $3B deal for Nokia's HERE, Bloomberg says
A group of German luxury car makers including BMW (BAMXY), Mercedes-Benz parent Daimler (DDAIF), and Audi (AUDVF) are close to an agreement to purchase Nokia's (NOK) digital-maps business HERE for roughly $3B, Bloomberg reports, citing people familiar with the matter. An official announcement may come as soon as Monday, the report says. Reference Link
10:02 EDTAAPLOn The Fly: Analyst Initiation Summary
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09:56 EDTAAPLApple heads for retest of support
Shares are down less than 1% to $121.68, but the drift lower suggests the range low at the $120 area will be retested. A break below the range would be bearish. Resistance is at $122.99.
09:36 EDTAAPLActive equity options trading on open
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09:03 EDTAMZNAmazon announces availability of Amazon Acoustics
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06:53 EDTAAPL, GOOGToyota signs pact with two companies for in-car navigation, Re/code says
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06:45 EDTGOOGGoogle, Silent Circle partner to add Android for Work to Blackphone, WSJ says
Google is partnering with Silent Circle, a Geneva-based maker of privacy-centric phones, to add Google's Android for Work software onto Silent Circle's Blackphone, a phone with encrypts calls, texts, and data, the Wall Street Journal reports. Reference Link
06:16 EDTAAPLSamsung allowed to halt Smartflash infringement proceedings, Reuters reports
The U.S. Court of Appeals for the Federal Circuit has ruled that Samsung (SSNLF) can halt patent infringement proceedings brought by Smartflash while the patents are examined by the USPTO, Reuters reports. The court also declined to stay the Smartflash case against Apple (AAPL), the report says. Reference Link
05:58 EDTGOOGStocks with implied volatility below IV index mean; TEVA GOOG
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July 30, 2015
18:56 EDTGOOGFacebook plans drone test later this year, AP says
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17:28 EDTAAPLApple to announce next-generation Apple TV in September, BuzzFeed says
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16:14 EDTAAPLApple initiated with a Buy at Nomura
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16:00 EDTAAPLOptions Update; July 30, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 16.05. Option volume leaders: AAPL FB SPLS X TWTR BAC NFLX MU CHK BIDU WFM HPQ LNKD MDLZ XOM
15:19 EDTGOOGGoogle pitching new version of 'Glass' to businesses, WSJ reports
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14:34 EDTGOOGGoogle rejects global delisting request from French regulator
In a company blog post published Thursday, Google global privacy counsel Peter Fleischer said the tech giant respectfully disagrees with French regulator CNIL's recent delisting request. According to the blog, CNIL requested that Google apply French "right to be forgotten" requests -- whereby a citizen requests removal of search results containing his or her name -- to all versions of Google across the globe, rather than just French or European versions of the search engine. "We believe that no one country should have the authority to to control what content someone in a second country can access," said Fleischer. Reference Link
12:23 EDTGOOGGoogle loses patent royalty battle with Microsoft, Bloomberg reports
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12:20 EDTGOOGGoogle denies French request to apply 'right to be forgotten,' Reuters says
Google is denying a request from the French privacy watchdog to clean search results worldwide when users invoke their "right to be forgotten" online, Reuters reports. Reference Link
11:37 EDTGOOGFacebook price targets hiked while shares slide after earnings
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11:26 EDTGOOGAppeals court affirms lower court judgment in Microsoft, Motorola patent suit
The 9th Circuit Appeals court affirmed the judgment of a district court in a patent lawsuit between Microsoft (MSFT) and Motorola, which is now owned by Google (GOOG). In its ruling, the appeals court wrote: "With the parties’ consent, the district court conducted a lengthy, thorough bench trial on the RAND rate and range. The court analyzed that evidence in its exhaustive findings of fact and conclusions of law, in a manner consistent with the Federal Circuit’s recent approach to establishing damages in the RAND context. The court’s factual findings were properly admitted at the jury trial. The jury’s verdict was supported by substantial evidence, and its damages award was proper." In a tweet after the ruling was released, Markman Advisors, which specializes in patent law, stated that Microsoft, Qualcomm (QCOM), InterDigital (IDCC) and others will be affected by this ruling, which it characterized as "tough for licensors of standard-essential patents."
10:09 EDTP, AMZNOptions with decreasing implied volatility
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09:36 EDTAAPLActive equity options trading on open
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09:36 EDTAAPLActive equity options trading on open
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08:29 EDTNOKNokia Q2 results show Q1 weakness was temporary, says Bernstein
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06:48 EDTAAPLGlobal tablet market fell 7% y/y in Q2, DigiTimes reports
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06:04 EDTAAPLApple implied volatility of 20 at lower end of index mean range
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05:46 EDTNOKNokia sees FY15 revenue increasing year over year
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05:41 EDTNOKNokia reports Q2 EPS EUR 0.09 vs. (EUR 0.01) last year
Reports Q2 revenue EUR 3.2B vs. EUR 2.9B last year.
July 29, 2015
18:15 EDTAMZNAmazon nears $30M e-book contract with NY Department of Education, CNY says
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12:40 EDTNOKNokia announces VR camera for professional content creators
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10:00 EDTAMZNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 3D Systems (DDD) upgraded to Neutral from Underperform at Longbow... AK Steel (AKS) upgraded to Outperform from Neutral at Macquarie... Ally Financial (ALLY) upgraded to Outperform from Neutral at Credit Suisse... Amazon.com (AMZN) upgraded to Buy from Hold at Stifel... Arrow Electronics (ARW) upgraded to Buy from Underperform at CLSA... Beacon Roofing (BECN) upgraded to Buy from Neutral at CL King... Citrix (CTXS) upgraded to Outperform at Baird... Commvault (CVLT) upgraded to Buy from Hold at Jefferies... FireEye (FEYE) upgraded on positive checks, business mdoel changes at Oppenheimer... Hibbett Sports (HIBB) upgraded to Neutral from Underperform at Sterne Agee CRT... Integra LifeSciences (IART) upgraded to Outperform at Raymond James... M/A-COM (MTSI) upgraded to Buy from Hold at Needham... Norsk Hydro (NHYDY) upgraded to Neutral from Underperform at Exane BNP Paribas... NuVasive (NUVA) upgraded to Outperform from Market Perform at Northland... SM Energy (SM) upgraded to Outperform from Market Perform at Raymond James... Scorpio Bulkers (SALT) upgraded to Buy from Hold at Deutsche Bank... Sirius XM (SIRI) upgraded to Buy from Hold at Wunderlich... Sprouts Farmers Markets (SFM) upgraded to Neutral from Underperform at Longbow... Supervalu (SVU) upgraded to Equal Weight from Underweight at Morgan Stanley... Waters (WAT) upgraded to Outperform from Market Perform at Wells Fargo... Wells Fargo (WFC) upgraded to Buy from Neutral at Guggenheim... Williams-Sonoma (WSM) upgraded to Overweight from Neutral at JPMorgan... YRC Worldwide (YRCW) upgraded to Strong Buy at Raymond James.
09:35 EDTAAPLActive equity options trading on open
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09:04 EDTAMZNAmazon says to debut two new dramatic plots on Amazon Instant Video on Aug. 7
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07:05 EDTAMZNAmazon.com upgraded to Buy with $700 target at Stifel
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06:29 EDTAMZNAmazon.com upgraded to Buy from Hold at Stifel
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06:23 EDTGOOGTwitter's VP of product management Christian Oestlien departs for YouTube
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July 28, 2015
16:00 EDTAAPLOptions Update; July 28, 2015
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14:41 EDTPHigh option volume stocks
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13:43 EDTAAPLEarnings Watch: Akamai reports as cloud services, content streaming accelerate
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12:44 EDTAMZNAmazon proposes drones-only fly zone, Guardian reports
Amazon proposed at a NASA UTM Convention at NASA Ames in California that a pristine slice of airspace above the world's cities and suburbs should be set aside for high-speed aerial drones without any human interference, the Guardian reports. The company suggested that a 200-foot parcel of air located between 200-400 feet from the ground should be segregated and reserved for high-tech drones, the report says. The proposal marks the next step in the company's goal of delivering packages via drones, the report says. Reference Link
10:47 EDTGOOGUBS says YouTube paid service could be $1B business
Google's (GOOG, GOOGL) revenue could increase by about $1B or more if it decides to offer a paid, ad free version of its YouTube website in the U.S., UBS wrote in a note to investors today. The firm made the estimate based on a survey it conducted of U.S. consumers. WHAT'S NEW: YouTube remains well-positioned to benefit from the growth of online video, UBS analyst Eric Sheridan stated. After UBS conducted a survey of U.S. adult consumers, Sheridan reported that the survey found that 27% of U.S. consumers would probably subscribe to a paid, ad free version of YouTube. According to Bloomberg, YouTube has decided to launch such a service in coming months. If only 5% of U.S. YouTube users buy subscriptions to the service, Google's revenue would rise by about $943M, Sheridan estimated. Following the survey, the analyst is more confident that Google will meet his revenue estimates, which exceed consensus levels. Specifically, he predicted that Google's revenue for the second half of 2015 would come in at $32.4B, versus the consensus outlook of $31.8B, while its 2016 revenue would be $72.2B, compared with the consensus estimate of $69.7B. Sheridan kept a $750 price target and Buy rating on the stock. WHAT'S NOTABLE: Other companies that are significantly exposed to online video include Netflix (NFLX), Facebook (FB) and AOL, which has been acquired by Verizon (VZ). PRICE ACTION: In morning trading, Google Class A shares were little changed at $657.55.
10:15 EDTAMZNOptions with decreasing implied volatility
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09:54 EDTAMZNCLSA U.S. Internet analyst holds an analyst/industry conference call
U.S. Internet Analyst James Lee hosts Toynk's E-commerce Director, Dave Madoch, to compare and contrast Amazon and eBay's cross-border trade business models and performance on an Analyst/Industry conference call to be held on August 3 at 11 am.
09:42 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL BIDU FB NFLX F T FCX TWTR
09:20 EDTGOOGGoogle well positioned to benefit from online video shift, says UBS
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09:02 EDTAMZNAmazon.com announces Amazon Launchpad program
Amazon announced Amazon Launchpad, a new program that makes it easy for startups to launch, market, and distribute their products to hundreds of millions of Amazon customers across the globe. The program offers a streamlined onboarding experience, custom product pages, a comprehensive marketing package, and access to Amazon’s global fulfillment network, all geared toward helping startups successfully launch their innovations and share their stories.
06:15 EDTGOOGVessel recruits former YouTube exec Kirkbride, Re/code reports
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06:14 EDTGOOGGoogle recently attempted to buy Impossible Foods, The Information reports
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06:06 EDTGOOGStocks with implied volatility below IV index mean; BIIB GOOG
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06:00 EDTGOOGGoogle Express workers file for representation by Teamsters union
Teamsters Local Union 853 announced yesterday that workers at Palo Alto-based Google Express Services filed for a representation election. The more than 140 warehouse and shipping workers sought out the Teamsters for help with improving working conditions, treatment on the job and compensation. Google Express Services, operated by Adecco, provides products shipped from local businesses to consumers on a same-day or overnight basis. Workers are required to sign short-term employment agreements with Adecco that limit them to two years before the company lets them go. Workers have also alleged subjection to constant harassment to work faster in poor conditions that includes damaged equipment, cracked floors and failing electrical systems that have resulted in fires.
05:15 EDTAMZNAmazon web services makes Amazon Aurora available to all customers
Amazon Web Services, or AWS, an Amazon.com company, announced that Amazon Aurora, a MySQL-compatible database engine that combines the speed and availability of high-end commercial databases with the simplicity and cost-effectiveness of open source databases, is now available to all customers. More than a thousand AWS customers, including global enterprises and startups from a range of industries, participated in the preview and saw that Amazon Aurora can provide up to five times better performance than the typical MySQL database, and availability as good or better than commercial databases – at one-tenth the cost. These customers also found Amazon Aurora has the scalability, durability, and reliability to run the most demanding enterprise and Internet-scale applications – everything from massive Internet of Things applications to mission-critical e-commerce sites.
July 27, 2015
20:01 EDTGOOGGoogle to decouple Google+ from YouTube, other services
Google will begin decoupling Google+ from other services such as YouTube within the coming months after previously requiring users to log in through the social network. "While we got certain things right, we made a few choices that, in hindsight, we’ve needed to rethink," said Bradley Horowitz, Google VP of streams, photos, and sharing. Reference Link
19:54 EDTAAPLApple Music reaches 10M subscribers in four weeks, HITS says
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16:00 EDTAAPLOptions Update; July 27, 2015
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13:16 EDTGOOG, AAPLADT rises after Citi downplays 'smart home' concerns
Shares of ADT (ADT) are heading higher in afternoon trading following an upgrade from Citi, within which the research firm said traditional home security firms have plenty of traction as self-installed, self-monitored security solutions from the likes of Apple (AAPL) and Google's (GOOG) Nest are slow to be adopted by homeowners. WHAT'S NEW: Citi's Jason Bazinet issued a research note on the home security sector, upgrading ADT to Buy from Neutral while slightly lowering his price target to $39 from $40. Bazinet notes that the sector is expanding into "smart home" technology powered by companies like Apple and Google's Nest. Despite this, the analyst contends that consumer data shows continued preference for the traditional approach in the form of professionally installed and professionally monitored services from ADT, Monitronics, Vivint, AT&T (T) and Comcast (CMCSA, CMCSK). WHAT'S NOTABLE: Though tech firms and venture capitalists seem drawn towards the concept of self-installed, self-monitored "smart homes," consumers appear to be sticking with the professionals, says Citi. Security systems using Apple HomeKit and Google's Nest products are seeing "limited" adoption, and firms like ADT -- equipped with call centers and installation specialists -- appear ready to "hold their own," with recent weakness in ADT shares called an "opportunity" by Bazinet. The analyst conceded that professional security providers will see their market share drop to 15% from a current 20%, but Bazinet set a 2035 date for that shift, leaving plenty of near-term opportunity for traditional players. PRICE ACTION: After a 25% drop since mid-April, shares of ADT are up about 1.4% to trade near $32 this afternoon.
12:43 EDTGOOGGoogle AdSense publishers to obtain EU end users' consent before accessing data
Google has announced a change to its user consent policy which will affect website publishers using Google AdSense. Under the new policy, publishers will have to obtain EU end users’ consent before storing or accessing their data, Google says in a blog post. Jason Woloz, Security & Privacy Program Manager, Display and Video Ads, comments, "European Union data protection authorities requested some changes to current practices for obtaining end user consents. It has always been Google’s policy to comply with privacy laws, so we’ve agreed to make certain changes affecting our own products and partners using Google products. If your websites are getting visitors from any of the countries in the European Union, you must comply with the EU user consent policy. We recommend you start working on a policy-compliant user consent mechanism today." Reference Link
10:29 EDTAMZNOptions with decreasing implied volatility
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10:07 EDTAAPLApple falls, levels to watch
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09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL NFLX INTC MU VZ BIDU AMBA
09:30 EDTGOOGGoogle to shut down Autocomplete API on August 10
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08:30 EDTAAPLNew Apple ipad mini rumored to be 'miniature iPad Air 2,' AppleInsider says
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07:49 EDTAAPLApple said to talk with BMW about electric car project, MacRumors reports
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06:36 EDTAAPLNike to pay $2.4M to FuelBand customers, AppleInsider reports
Under terms agreed upon in June, Nike (NKE) will pay $2.4M to customers who purchased a FuelBand product anytime between January 19, 2012 and June 17, 2015 to settle a class action suit leveled against itself and Apple (AAPL) in 2013, AppleInsider reports. Apple was named as a defendant in the suit, but holds no responsibility or liability for attorneys' fees or costs, the report says. The plaintiffs alleged that the Fuelband was unable to accurately track calorie burn, steps, and overall activity, the report says. Reference Link
06:30 EDTAAPLSky prepares to unveil set-top box, Telegraph reports
Sky is finishing up an advanced set-top box called SkyQ, a device it hopes can help its pay-TV business compete against BT (BT), the Telegraph reports. The new hardware is set to be unveiled in the next few weeks and will offer satellite households an "Apple (AAPL) and Netflix (NFLX) style" experience, the report says, citing industry insiders. Reference Link
06:23 EDTGOOGInstagram's mobile ad revenues to reach $2.81B in 2017, eMarketer says
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06:21 EDTGOOGGoogle Ventures joins Secret Escapes' $60M funding round, TechCrunch reports
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06:05 EDTAAPLBest Buy to begin selling Apple Watch in August, WSJ reports
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06:01 EDTGOOGStocks with implied volatility below IV index mean; ASHR AMBA
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July 26, 2015
19:22 EDTNOKBaidu CEO 'still interested' in Nokia map unit, Re/code says
In a Re/code interview published Friday afternoon, Baidu (BIDU) CEO Robin Li remarked that the company is "still interested" in Nokia's (NOK) HERE mapping unit. When asked about potential partners, Li commented, "I cannot say too much about it because it’s not a done deal." Note that earlier media reports have suggested Nokia is or was leaning towards selling HERE to a group of German luxury car makers including Daimler (DDAIF), BMW (BAMXY), and Volkswagen's (VLKAY) Audi (AUDVF). Reference Link
14:44 EDTAMZNAmazon cloud sales signal risk for traditional data storage, Barron's says
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July 24, 2015
16:30 EDTAMZN, AAPLStocks end week lower as Apple headlines busy week of earnings
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16:22 EDTAMZNOn The Fly: Top stock stories for Friday
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15:06 EDTAAPLEarnings Watch: TV networks report as streaming services gain ground
CBS (CBS), Time Warner (TWX), Viacom (VIA, VIAB), and 21st Century Fox (FOX, FOXA) are among TV network companies expected to report quarterly results over the next several weeks, with Comcast (CMCSA, CMCSK) already having reported before the open on July 23. EXPECTATIONS: Time Warner is expected to report EPS of $1.03 on revenue of $6.9B, CBS is expected to report EPS of 73c on revenue of $3.22B, Viacom is expected to report EPS of $1.47 on revenue of $3.22B, and 21st Century Fox is expected to report EPS of 37c on revenue of $6.48B. LAST QUARTER: CBS, Time Warner, and Fox all reported stronger than expected Q1 results, while Viacom reported higher than expected Q2 EPS but missed on revenue. THIS WEEK'S EARNINGS: On the morning of July 23, Comcast reported Q2 EPS of 84c in line with estimates, and revenue of $18.7B versus expectations for $18.14B. Cable customer relationships for the quarter were up 31,000 to 27.3M, driven by increases in double and triple product relationships. During a subsequent conference call, the company noted that TV viewership continues to be under pressure. NEWS: At Re/code's Code Conference on May 27, CBS CEO Leslie Moonves remarked that his network will "probably" sign up for Apple's (AAPL) rumored TV service, and on June 3, CBS announced that its Showtime network will be offered over the internet as a stand-alone streaming service launching in early July for a monthly price of $10.99, with Apple as its first partner. On July 1, Variety quoted sources as saying Viacom was attempting to entice advertisers by offering to construct social-media and digital extensions of traditional TV ad campaigns as the company seeks to move away from Nielsen-based advertising sales. On July 8, the Wall Street Journal reported that Viacom's Paramount Pictures reached an agreement with AMC (AMC) to accelerate the home release of movies, noting that the company hoped to implement the quickened schedule for all new releases beginning later in the year. On July 17, Re/code reported that Viacom held talks to acquire e-commerce and media company Thrillist Media, according to sources. On June 17, 21st Century Fox named James Murdoch as CEO, with founder and former chairman and CEO Rupert Murdoch appointed executive co-chairman alongside Lachlan Murdoch. The Telegraph reported on June 20 that Fox rejected offers for its stake in Sky (SKYAY) from Vodafone (VOD) and Vivendi (VIVHY), potentially signalling an interest in outright purchasing the rest of Sky, according to the report. More recently, the European Commission announced on July 23 that it delivered a statement of objections to Sky and various film studios owned by Comcast, Viacom, Fox, Time Warner, Disney (DIS), and Sony (SNE), discussing anti-trust concerns due to limitations on country-by-country availability of pay-TV services. STREET RESEARCH: On May 12, Pacific Crest said it believes Apple will launch its TV service before the end of the year, saying the move should benefit TV networks as well as Apple itself. On June 24, Brean Capital said Facebook's (FB) agreement with Time Warner to host premier episodes of certain upcoming shows was "a trend worth following," and possibly indicative of Facebook hosting additional TV content in the future. Also on June 24, FBR Capital contended that Netflix (NFLX) was on pace to have a larger 24-hour audience than all traditional broadcast networks, where ratings are seeing declines on average, according to the research firm. Those comments were followed by a July 10 note on Netflix from Morgan Stanley, saying the subscription streaming service was seeing higher time spent per day than any single broadcast network. Moving away from the Netflix factor, on July 10, JPMorgan said CBS shares looked "very attractive" following a recent selloff, though the company saw a downgrade on July 20 from Pivotal, which cited higher costs of capital among other factors. Finally, Citi upgraded Viacom on July 16 to Neutral, citing recent underperformance in the company's shares heading into earnings season.
14:04 EDTAMZN, GOOGOn The Fly: Weekly technical notes on 'FANG' and divergences
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13:51 EDTAMZNAmazon.com retraces, levels to watch
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13:29 EDTNOKAlcatel CEO says Nokia deal may close sooner than expected, Re/code reports
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13:00 EDTAMZNAmazon.com levels to watch
Shares appear to be trying to hold the line at the $550 area as the afternoon session begins. That is still over $68 of upside, but down nearly $42 from the after-hours session high yesterday. There is a risk the move is broadly extended and blow-off top at least in the short-term. Support is at the session low at $549.67. Without any established support price retracement is likely to follow round-number and common option strikes. Next support on that basis below the low would be $545 and then at $540. Resistance similarly is at $555.
12:54 EDTP, AMZNOn The Fly: Top stock stories at midday
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12:33 EDTAMZNAmazon.com volatility pulls back on better than expected Q2 and outlook
Amazon.com July weekly call option implied volatility is at 33, August and September is at 27, compared to its 52-week range of 21 to 68, suggesting decreasing price risk.
11:51 EDTP, AAPLPandora soars after results, guidance top estimates
Shares of internet radio provider Pandora (P) are rising after the company’s second quarter results beat analysts' expectations. The company's third quarter and fiscal year 2015 revenue outlooks also exceeded the consensus. WHAT'S NEW: Thursday after the bell, Pandora reported Q2 adjusted earnings per share of 5c and revenue of $285.56M, easily topping analysts’ consensus estimates of 2c and $283.06M, respectively. Adjusted EBITDA for the quarter was $16.3M, a 29% year-over-year improvement. The company also said that total RPMs increased 24% to $53.91 in Q2, ad RPMs grew 25% to $49.94, ad revenue was $230.9M and said total mobile revenue was $229.7M. For the quarter, total listener hours increased 5% to 5.3B and active listeners were 79.4M at the end of Q2 compared to 76.4M from the same period last year. Looking ahead to Q3, the company forecast revenue of $310M-$315M, slightly ahead of analysts' consensus estimates of $309.2M, and sees Q3 adjusted EBITDA of $25M-$30M. For FY15, Pandora forecast revenue of $1.175B-$1.185B, slightly better than analysts' consensus of $1.17B. Pandora also sees FY15 adjusted EBITDA of $75M-$85M and a tax rate of 30%-35%. WHAT’S NOTABLE: Brian McAndrews, the company's Chief Executive Officer, commented on Apple Music, Apple's (AAPL) recently launched music streaming service. McAndrews said that since the app launched at the end of June, "there was no impact yet" to Pandora. Going forward, McAndrews said that the company "feels really good about our trajectory and competitive position," noting that "there could be some users that experiment with [Apple Music] and there could be some short-term impact." McAndrews does not see any long-term impact from the Apple app. ANALYST REACTION: This morning, analyst commentary has been mixed. Research firm Stifel said Pandora's outlook remains favorable. Stifel said that the company plans to intensify its marketing efforts during the seasonally stronger 2H15 and that the company's outlook for 2H15 has improved following the results. The firm kept a $25 price target and Buy rating on the shares. Another firm, JMP Securities, said Pandora’s mobile trends were encouraging, but said it will stay on sidelines until the company's user trends accelerate and its royalty case concludes. JMP Securities kept a Market Perform rating on the shares. PRICE ACTION: In late morning trading, Pandora rose $2.05, or about 14.8%, to $15.93 on nearly twice its average daily trading volume. Despite today’s advance, the shares have fallen approximately 45% over the past year.
10:34 EDTP, AMZNOptions with decreasing implied volatility
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10:09 EDTAMZNAmazon shares, price targets soar following earnings beat
Shares of Amazon.com (AMZN) are surging this morning and research firms are rushing to increase their price targets on the stock after the e-commerce giant unexpectedly reported a quarterly profit and gave a better than expected revenue forecast for its new quarter. UPGRADES: Barclays analyst Paul Vogel upgraded Amazon to Overweight from Equal Weight, saying the online retailer's margins are expanding much faster than previously thought. Vogel views the company's outside the U.S. and Web Services revenue growth as both a surprise and sustainable, telling investors that the second quarter "was too good in our view to wait" for an upgrade. He raised his price target for Amazon shares to $700 from $412. B. Riley analyst Scott Tilghman also upgraded Amazon this morning, upping it to Buy from Neutral as he also believes the company's revenue upside looks sustainable. Tilghman, who believes margin upside is likely to follow, raised his price target for the stock to $646 from $428. TARGETS ABOVE $700: JPMorgan analyst Doug Anmuth raised his December 2016 price target for Amazon.com to $710 and reiterates an Overweight rating on the stock, as he believes Amazon is now benefiting from its investments in Prime, category expansion and fulfillment centers. Meanwhile, Morgan Stanley analyst Brian Nowak hiked his price target on Amazon.com to $740, which is the highest among firms tracked by Bloomberg at time of writing. Nowak, who entitled his note "The Everything Quarter," said the company's business is inflecting around the globe and noted that top-line growth accelerated in all four of its main retail segments for the second quarter in a row. PRICE ACTION: In early trading following its report last night, Amazon shares jumped 16% to about $561 per share.
10:00 EDTP, AMZNOn The Fly: Analyst Upgrade Summary
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09:36 EDTAAPL, AMZNActive equity options trading on open
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09:18 EDTPPandora upgraded to Overweight from Market Perform at Albert Fried
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09:14 EDTAMZN, POn The Fly: Pre-market Movers
UP AFTER EARNINGS: Amazon (AMZN), up 20.7%... Pandora (P), up 10.3%... Juniper (JNPR), up 9.1%... Visa (V), up 6.7%... Starbucks (SBUX), up 5%... Skyworks (SWKS), up 2.6%... American Airlines (AAL), up 2.1%. ALSO HIGHER: SolarCity (SCTY), up 2.5% after being upgraded to Outperform from Neutral at Baird. DOWN AFTER EARNINGS: Tripadvisor (TRIP), down 8.5%... Biogen (BIIB), down 14.1%.
09:11 EDTPPandora mobile trends encouraging but stay on sidelines, says JMP Securities
After Pandora reported stronger than expected results, JMP Securities says it was encouraged by Pandora’s continued execution on mobile monetization. However, the firm says it will remain on the sidelines on the stock until the company's user trends accelerate and its royalty case concludes. JMP Securities keeps a Market Perform rating on the shares
08:56 EDTPPandora results underscore growth and stability, says Canaccord
Canaccord views Pandora's Q2 results as strong and said its ad revenue underscores its inherent growth and stability. The company maintained its revenue and earnings guidance, leading Canaccord to reiterate its Buy rating and $26 price target on Pandora shares.
08:28 EDTAMZNAmazon.com price target raised to $740 from $520 at Morgan Stanley
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08:26 EDTPPandora outlook remains favorable, says Stifel
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07:43 EDTAMZN, GOOGGoogle, others to create air traffic control for drones, Bloomberg says
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07:38 EDTAMZNAmazon.com price target raised to $665 from $500 at Deutsche Bank
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07:34 EDTAMZNAmazon.com price target raised to $650 from $460 at Citi
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07:07 EDTAMZNAmazon.com price target raised to $650 from $550 at UBS
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07:04 EDTAMZNAmazon.com price target raised to $670 from $460 at Cantor
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06:53 EDTAMZNAmazon urges FTC to approve Staples-Office Depot deal, NY Post says
Amazon (AMZN) founder and CEO Jeff Bezos has reached out to FTC regulators through intermediaries supporting approval of Staples' (SPLS) proposed $6.3B offer to acquire Office Depot (ODP), the New York Post reports, citing sources familiar with the matter. Reference Link
06:19 EDTAMZNAmazon.com price target raised to $710 from $535 at JPMorgan
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06:18 EDTGOOGYouTube updates app, to offer VR, Engadget says
Google's YouTube has updated its mobile app, adding Home, Subscriptions, and Account tabs, Engadget reports. Users can watch full-screen vertical videos with just a single tap for the first time. In addition, the redesigned app comes with a set of video creation tools, including the option to trim footage, tint the image with filters, add music, and upload creations within the app. In addition, YouTube said that virtual reality will come to the streaming service with 360-degree video, the report says. Reference Link
06:13 EDTAAPL, GOOGApple removes Nest smart thermostat from online, retail stores, Mashable says
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06:08 EDTNOKNokia receives European Commission approval for Alcatel-Lucent acquisition
Nokia (NOK) announced that it has received approval from the European Commission for its pending acquisition of Alcatel-Lucent (ALU). The proposed transaction was notified to the European Commission on June 19, 2015 and was cleared today without conditions following a Phase 1 review. Approval by the European Commission follows previously disclosed antitrust clearances in Brazil and Serbia and the expiration of the antitrust review period in the United States. In addition, the parties confirmed today they have received further antitrust clearances from Albania, Canada, Colombia and Russia. Both companies will continue to cooperate with the remaining authorities to close their reviews as quickly as possible. The transaction remains subject to approval by Nokia shareholders, Nokia holding over 50.00% of the share capital of Alcatel-Lucent on a fully diluted basis upon completion of the public exchange offer, receipt of other regulatory approvals and other customary conditions. The transaction is expected to close in the first half of 2016.
06:08 EDTGOOGStocks with implied volatility below IV index mean; LOCK GOOG
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05:53 EDTAMZNStocks with implied volatility above IV index mean; AMZN TWTR
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05:52 EDTAMZNAmazon.com price target raised to $630 from $475 at Baird
Baird analyst Colin Sebastian raised his price target for Amazon.com to $630 saying the company's Q2 was a "pristine quarter almost across the board." Accelerating growth and higher than expected margins will "prove irresistible to investors," Sebastian tells investors in a post-earnings research note. He reiterates an Outperform rating on the stock. Shares of Amazon were upgraded this morning at B. Riley and Barclays.
05:49 EDTAMZNAmazon.com price target raised to $650 from $520 at Piper Jaffray
Piper Jaffray analyst Gene Munster raised his price target for Amazon.com shares to $650 saying the company just reported a third straight quarter of margins materially above expectations. Munster expects further margin expansion after management reiterated its intent to focus on productivity in 2015. He sees unit growth as being a catalyst for shares and reiterates an Overweight rating on the stock. Amazon shares, which upgraded this morning at B. Riley and Barclays, are trading up $87.82 to $570.00 in pre-market trading.
05:38 EDTAMZNAmazon.com upgraded to Buy from Neutral at B. Riley
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05:36 EDTAMZNAmazon.com upgraded to Overweight with $700 target at Barclays
Barclays analyst Paul Vogel upgraded Amazon.com to Overweight from Equal Weight saying the online retailer's margins are expanding much faster than previously thought. Following Amazon's Q2 results, Vogel views the company's outside the U.S. and Web Services revenue growth as both a surprise and sustainable. The quarter "was too good in our view to wait" for an upgrade, the analyst tells investors. He raised his price target for Amazon shares to $700 from $412. In pre-market trading, the stock is up $88.77 to $570.95.
July 23, 2015
19:41 EDTAMZNAmazon to test drive-thru grocery store, SV Business Journal says
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19:24 EDTGOOG, AAPLWal-Mart's Apple Pay competitor launching soon, Bloomberg says
CurrentC, the mobile payment application funded by Wal-Mart (WMT), Target (TGT), Best Buy (BBY) and others, will see an early trial run next month, Bloomberg reported earlier, citing three people familiar with the situation. A spokesperson for Lowe's (LOW) said the consortium behind the app expects an official launch in Q3, and Bloomberg noted that CurrentC will compete with more "established" offerings such as Apple's (AAPL) Apple Pay and Google's (GOOG) Android Pay. Reference Link
19:06 EDTAMZN, POn The Fly: After Hours Movers
UP AFTER EARNINGS: Amazon (AMZN), up 17.2%... Marketo (MKTO), up 15.4%... Juniper Networks (JNPR), up 9.9%... NetGear (NTGR), up 9.2%... Qlik Technologies (QLIK), up 9.1%... LogMeIn (LOGM), up 9.9%... Pandora (P), up 10.3%... Mitek Systems (MITK), up 7.8%... Proofpoint (PFPT), up 5.1%... Supreme Industries (STS), up 4.7%... Skyworks (SWKS), up 3.6%... IGI Laboratories (IG), up 3.7%... Maxim Integrated Products (MXIM), up 4.1%... Boyd Gaming (BYD), up 4.1%... Trinity Industries (TRN), up 5%... Trinity Industries (N), up 3.2%... Starbucks (SBUX), up 4.5%. ALSO HIGHER: Qorvo (QRVO), up 2.7% after Skyworks reported quarterly results. DOWN AFTER EARNINGS: TrueCar (TRUE), down 33.1% after reporting quarterly results and cutting fiscal 2015 revenue guidance... Tripadvisor (TRIP), down 9.2%... Align Technology (ALGN), down 7.4%... Capital One (COF), down 4.9%... PMC-Sierra (PMCS), down 9.1%... athenahealth (ATHN), down 2.1%. ALSO LOWER: Sunesis Pharmaceuticals (SNSS), down 59.7% after giving vosaroxin regulatory update... Avalanche Biotechnologies (AAVL), down 5.6% after CEO Thomas Chalberg, Jr., Ph.D. resigns and Hans Hull name interim CEO.
18:22 EDTAMZNAmazon.com says prime membership continues to grow
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18:16 EDTAMZNAmazon.com says AWS segment income rose 407%
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17:38 EDTAMZNAmazon.com reports Q2 AWS net revenue up 81% to $1.82B
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16:16 EDTPPandora reports Q2 adjusted EPS 5c, consensus 2c
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16:14 EDTAMZNAmazon.com reports Q2 AWS segment net sales $1.82B
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16:12 EDTAMZNAmazon.com jumps 14% to $549.50 after reporting Q2 profits
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16:12 EDTAMZNAmazon.com sees Q3 revenue $23.3B-$25.5B, consensus $23.89B
Sees Q3 operating income (loss) to be between ($480M) and $70M, compared to ($544M) million in third quarter 2014.
16:11 EDTAMZNAmazon.com reports Q2 EPS 19c, consensus (14c)
Reports Q2 revenue $23.18B, consensus $22.39B. Operating cash flow increased 69% to $8.98B for the trailing twelve months, compared with $5.33B for the trailing twelve months ended June 30, 2014.
16:10 EDTPPandora sees FY15 revenue $1.175B-$1.185B, consensus $1.17B
Sees FY15 adjusted EBITDA $75M-$85M. Sees tax rate 30%-35%.
16:08 EDTPPandora rallies sharply, levels to watch
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16:08 EDTPPandora sees Q3 revenue $310M-$315M, consensus $309.2M
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16:07 EDTPPandora reports total Q2 RPMs up 24% to $53.91
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15:04 EDTP, AMZNNotable companies reporting after market close
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14:17 EDTGOOGEarnings Watch: Visa reports after 'top pick' mention by Bernstein
Visa (V) is expected to report third quarter results after the close on July 23, with a conference call scheduled for 5:00 pm ET. Visa is a global payments technology company. EXPECTATIONS: Analysts are looking for earnings per share of 59c on revenue of $3.36B. EPS consensus ranges 54c-65c on a revenue range of $3.32B-$3.41B, according to First Call. LAST QUARTER: On April 30, Visa reported second quarter EPS of 63c against expectations for 62c, and reported revenue of $3.41B versus estimates of $3.34B. During its quarterly conference call, the company noted that "we're now looking at Q3 fully diluted EPS being 6c-8c lower than analyst's current expectations," adding that results are likely to be pressured by higher client incentives. Visa executives also disclosed expectations for a "meaningful step-up" in Q3 expense growth, with a number of marketing and technology initiatives having shifted towards the latter half of the year. PEERS: American Express (AXP) reported quarterly earnings after the close on July 22, with earnings above consensus estimates but revenue somewhat below expectations, noting a "significant" impact from a stronger U.S. dollar on international operations. NEWS: On May 8, Bloomberg reported that Visa was in preliminary talks to acquire Visa Europe for $15B-$20B, according to sources. On June 3, Visa and FireEye (FEYE) announced a strategic partnership to co-develop tools and services to protect against cyber attacks targeting payment data. On June 5, the Wall Street Journal reported that, due to Visa and MasterCard (MA) having finalized their card-security technology, Google's (GOOG) Android Pay will not be earning any transaction fees from credit-card issuers, and on June 17, Reuters reported that a U.S. appeals court affirmed that American Express can no longer block businesses from steering customers towards competitor cards, such as those of Visa. STREET RESEARCH: On May 19, Pacific Crest's Josh Beck shifted his preference to MasterCard from Visa, though he noted that the shift was simply due to Visa's outperformance over the past year. On May 20, Bernstein noted that the risk/reward ratio for both Visa and MasterCard looks positive, with the companies offering secular growth, "compelling" business models, and modest risk. More recently on July 14, Bernstein named Visa among its "Vintage Values 2016" list, citing the company's U.S. acquirer price increase and expectations that the Visa Europe put option will be exercised this year. PRICE ACTION: Shares of Visa have fallen just under 1% to $71.41 ahead of Thursday's earnings report.
13:53 EDTAAPL, GOOG, AMZN“Fab Five” option implied volatility
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13:18 EDTAMZNAmazon.com July weekly 35 straddle priced for 9.3% movement into Q2
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13:13 EDTGOOG, AMZNEarnings Watch: Amazon to report Q2 results after ‘record breaking’ Prime Day
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13:03 EDTAMZNAmazon.com July weekly volatility elevated into Q2 and outlook
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11:23 EDTGOOGGoogle announces program to help give patents to startups
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10:54 EDTAAPLStreet Check: Summit said buy SanDisk before earnings rallied shares
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10:24 EDTAMZNAmazon.com technical comments ahead of earnings
The key technical feature, most easily seen on a 5-year chart, is that a recent bullish pennant pattern has completed. Heading into earnings, even good news might still result in a retracement which is typical following a pattern's completion. That process may be underway as price eases down from the life high at $493.20. If there is strongly bullish news, the life high is the only resistance level on the chart. A breakout would likely mean a move to $500 and potentially much higher. Without overhead resistance, there is nothing to prevent a further run. Potential targets at $525 and $550 could be tested given the momentum coming into earnings. But such a move would be an extension of the already-parabolic advance, and typically these do not end well. A better scenario would be a consolidation in price at higher levels that builds support. If the news disappoints there is little in the way of enduring support below given the recent jumps. There is a zone of support at the $450 area which could be tested. Such a price drop would retrace the entire "pole" off the pennant that has brought shares to current levels. Below $450 there is only the low of the pennant pattern itself at the $425 area and then a zone of support below at $410 to $400 due to a price gap which was the first breakaway from resistance at the $400 area.
10:20 EDTGOOGGM CEO says just completed car sharing program at Google HQ
General Motors (GM) CEO Mary Barra made the comment on the company's Q2 earnings conference call.
09:45 EDTAAPLJPMorgan sees risk of Synaptics losing Apple business
Apple (AAPL) is working on bringing its touch and display driver integration functionality in-house to better protect its operating system, JPMorgan analyst Paul Coster tells investors today in a research note. The move increases the likelihood of the iPhone maker terminating its use of Synaptics' display diver solution in mid-2017, Coster writes. To reflect the risk of losing the business, the analyst cut his price target for Synaptics to $97 from $112. The supplier of human interface solutions is trading up 49c to $80.34 in early trading. Coster keeps an Overweight rating on Synaptics, however, saying the stock is already pricing in the risk of losing the Apple business after selling off 20% since mid June.
09:38 EDTAAPLActive equity options trading on open
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07:11 EDTAMZNAmazon.com July weekly volatility elevated into Q2 and outlook
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06:32 EDTGOOGOracle requests permission to update suit against Google, Reuters reports
Oracle (ORCL) has requested permission from a U.S. judge to update its copyright lawsuit against Google (GOOG) to include the Android operating system's current market dominance, Reuters reports. Oracle has said it wants the suit to add that Google continues its copyright infringement through updated versions of Android, the report says. Reference Link
06:25 EDTAAPLApple says no changes to product plans despite CapEx cut, WSJ reports
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06:25 EDTGOOG, AAPLApple Watch, Android Wear Wi-Fi adoption to motivate others, DigiTimes says
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06:24 EDTAAPLApple cuts FY15 CapEx forecast by $1B to $12B
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06:21 EDTAAPLApple Mac shipments expected in 2H!5 to surpass 1H volume, DigiTimes reports
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06:19 EDTGOOGSony plans 'stripped back' version of Android
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06:05 EDTGOOGStocks with implied volatility below IV index mean; GOOG LOCK
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05:48 EDTAMZNStocks with implied volatility above IV index mean; HOT AMZN
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July 22, 2015
23:09 EDTGOOGFormer MTV executive joins YouTube as VP of originals, Variety says
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16:27 EDTAAPLOn The Fly: Top stock stories for Wednesday
Stocks began the session in negative territory and remained there throughout the day. Uninspiring earnings reports from Apple (AAPL) and Microsoft (MSFT) were enough to push the Nasdaq lower and the rest of the market followed. There was good news on the housing sector, with both existing home sales and a housing market index coming in with good data, but it was not enough to overcome the tech selloff. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: Shares of Apple dropped $5.79, or 4.43%, to $124.96 after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. A number of suppliers to Apple declined in tandem with the tech giant. Skyworks Solutions (SWKS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report... Microsoft declined $1.88, or 3.97%, to $45.40 after reporting its Q4 Devices and Consumer revenue declined 13% and its Windows OEM revenue decreased 22% as revenue was impacted by PC market declines following the XP end-of-support refresh cycle. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose $5.84, or 10.14% to $63.42 after St. Jude Medical (STJ) announced an agreement to acquire the company for $63.50 per share in a transaction valued at $3.4B. Shares of St. Jude, meanwhile, edged down by 4c to $76.67. Also higher following earnings reports were shares of Intuitive Surgical (ISRG) and Chipotle Mexican Grill (CMG), advancing about 8.5% and 7.8%, respectively. Among the noteworthy losers was Caesars Entertainment (CZR), which dropped $3.26, or 40.65%, to $4.76 following reports that a judge ruled the company must face certain creditor lawsuits that could force a bankruptcy. Caesars Acquisition (CACQ) also dipped after the news, falling $1.13, or 14.52%, to $6.65. Also lower was XOMA (XOMA), which plummeted $3.46, or 78.61%, to 94c and saw downgrades at numerous research firms after the company's Phase 3 gevokizumab study did not meet its primary endpoint. INDEXES: The Dow fell 65.60, or 0.37%, to 17,853.69, the Nasdaq lost 36.35, or 0.7%, to 5,171.77, and the S&P 500 declined 5.06, or 0.24%, to 2,114.15.
15:41 EDTAMZNAngie's List price target lowered to $5.50 from $8 at Piper Jaffray
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15:02 EDTAAPLOptions Update; July 22, 2015
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13:06 EDTGOOGCompetitors ask EU to probe Google ad technology market practices, FT says
Several of Google's (GOOG) rivals, including OpenX and AppNexus, which is part owned by WPP (WPPGY) and Microsoft (MSFT), have suggested that the European Union investigate the internet giant, claiming it may be unlawfully stifling competition in the market for advertising technology, the Financial Times reports. The companies' grievances relate to the way in which Google bundles its advertising technology products through contracts that may discourage or even prevent customers from using competitors' services, the report says. The companies in question have submitted documents to the EU expressing concern over the issue but have not submitted an official complaint, the report adds. Reference Link
12:35 EDTAMZNAmazon.com offers Prime members 5% cash-back credit card, Re/code reports
Amazon is offering Prime members access to an Amazon credit card that pays back 5% on every Amazon.com order, reports Re/code. The company has quietly introduced the card in March and has been slowly rolling out marketing for it on the website since then. Reference Link
12:32 EDTAAPLOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as slides in a number of big name tech stocks following their earnings reports dominated the news flow and largely dictated the market's direction. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: The tech sector has been weak, headlined of course by a 5% pullback in shares of Apple (AAPL) after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. Adding to the negative tone in tech stocks, and contributing further to the decline in the Nasdaq, was the 3% drop seen in Microsoft (MSFT) shares after its quarterly report as well as Yahoo's (YHOO) 1% decline after its revenue outlook missed the consensus forecast... Shares of Boeing (BA) and Coca-Cola (KO) fared better than Dow peer Apple after each reported better than expected sales and profits, though neither stock was moving far from where they closed yesterday's trading. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose 10% after the company agreed to be acquired by St. Jude Medical (STJ) for $3.4 billion in cash, or $63.50 per share. St. Jude shares advanced fractionally after the deal, which had been foreshadowed by media reports yesterday, was announced. Also higher following their earnings reports were Intuitive Surgical (ISRG), which gained 10%, Chipotle Mexican Grill (CMG), which advanced 8% and Whirlpool (WHR), which was up 6%. Among the noteworthy losers were a number of suppliers to Apple that declined in tandem with the tech giant after it reported a sequential drop in iPhone sales. Skyworks Solutions (SWKS), Cirrus Logic (CRUS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report. Also sharply lower was antibody-based therapeutics maker XOMA (XOMA), which plunged more than 73% and was downgraded to Neutral at Piper Jaffray after a Phase III trial of its gevokizumab drug in patients with Behcet's disease uveitis did not meet its primary endpoint. INDEXES: Near midday, the Dow was down 82.22, or 0.46%, to 17,837.07, the Nasdaq was down 42.68, or 0.82%, to 5,165.44, and the S&P 500 was down 6.93, or 0.33%, to 2,112.28.
10:01 EDTAAPLOn The Fly: Analyst Downgrade Summary
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10:01 EDTAMZNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded to Buy at MKM Partners... Agnico Eagle (AEM) upgraded to Buy from Hold at HSBC... Allegiant Travel (ALGT) upgraded to Outperform from Market Perform at Raymond James... Amazon.com (AMZN) upgraded on positive outlook at JMP Securities... Bank of Ireland (IRE) upgraded to Buy from Neutral at Nomura... Canadian Pacific (CP) upgraded to Buy at Canaccord... Carrizo Oil & Gas (CRZO) upgraded to Outperform from Neutral at Credit Suisse... Concho Resources (CXO) upgraded to Outperform from Neutral at Credit Suisse... Crown Castle (CCI) upgraded to Buy from Neutral at Citi... Exxon Mobil (XOM) upgraded to Conviction Buy from Buy at Goldman... Fidelity & Guaranty Life (FGL) upgraded to Outperform from Neutral at Macquarie... First Interstate (FIBK) upgraded to Buy from Hold at Sandler O'Neill... Hess Corp. (HES) upgraded to Outperform from Neutral at Credit Suisse... Intuitive Surgical (ISRG) upgraded to Buy at Canaccord... J.C. Penney (JCP) upgraded to Buy from Neutral at Buckingham... Murphy Oil (MUR) upgraded to Neutral from Underperform at Credit Suisse... Noble Energy (NBL) upgraded to Outperform at Credit Suisse... Packaging Corp. (PKG) upgraded to Outperform from Market Perform at BMO Capital... Prologis (PLD) upgraded to Outperform from Neutral at Baird... Signature Bank (SBNY) upgraded to Strong Buy from Outperform at Raymond James... Sonic Automotive (SAH) upgraded to Buy from Neutral at BofA/Merrill... Tate & Lyle (TATYY) upgraded to Neutral from Sell at Goldman... Technip (TKPPY) upgraded to Neutral from Sell at Goldman... Union Bankshares (UBSH) upgraded to Buy from Neutral at Compass Point... Yamana Gold (AUY) upgraded to Buy from Hold at HSBC... Yara (YARIY) upgraded to Neutral from Underweight at JPMorgan.
09:38 EDTAMZN, AAPLActive equity options trading on open:
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09:32 EDTAAPLApple results disappointing, says Wells Fargo
Wells Fargo says that Apple's lower than expected Q3 iPhone sales suggest that it may be keeping inventories low because of low demand. The firm thinks the company faces a number of challenges in its September quarter, including product transitions, tough comps, China volatility and less differentiation in the 6S iPhone. Wells keeps a Market Perform rating.
09:07 EDTAAPLOn The Fly: Pre-market Movers
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09:01 EDTAMZNAmazon.com upgraded on positive outlook at JMP Securities
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08:58 EDTAAPLApple shares should be bought on weakness, says JMP Securities
After Apple reported higher than expected Q3 EPS but in-line revenue and the stock fell, JMP Securities says that the stock declined due to worries that the company's momentum is diminishing ahead of tougher comps. However, the firm finds the stock's valuation attractive, given the fact that other tech bellwethers are missing expectations. The firm is upbeat on the company's performance in China and believes that iPhone penetration can increase significantly.
08:33 EDTAAPLApple iPhone miss de-risks 2H 2015, says Morgan Stanley
Morgan Stanley said the 2.5M iPhone unit miss is a function of management's conservative approach to channel inventory given currency volatility and related price actions. Firm said demand remains strong despite price increases and sees a decent set-up for 2H channel inventory build that can lead to unit growth year-over-year. Morgan Stanley believes shares are attractive following reset expectations and reiterates its Overweight rating and lowered its price target to $155 from $166 on share.
08:22 EDTAAPLApple weakness a buying opportunity, says Baird
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08:08 EDTPPandora has reached attractive entry point, says Oppenheimer
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07:51 EDTAMZNAlibaba cloud services president says can catch AWS in 3-4 years, Bloomberg says
Speaking at an event about Alibaba Group's (BABA) accelerated investment in its data centers, the president of the company's Aliyun cloud services arm, Simon Hu said, "It took Amazon (AMZN) 10 years to get where it is today. It took us six years, and we hope to match or even surpass Amazon in three to four years,” according to Bloomberg. Reference Link
07:44 EDTAAPLApple weakness creates buying opportunity, says RBC Capital
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07:27 EDTAAPLApple post-earnings selloff overdone, says JPMorgan
JPMorgan analyst Rod Hall views the post-earnings pullback in shares of Apple as overdone. The company made no mention of demand weakness while China results and commentary were positive, Hall tells investors in a research note. He recommends adding to positions on today's selloff and keeps an Overweight rating on Apple with a $145 price target.
07:20 EDTAAPLApple should be bought on weakness, says Stifel
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07:07 EDTAAPLApple iPhone sales light but no reason to sell stock, says UBS
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07:05 EDTAAPLApple shares still attractive, says Cantor
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06:54 EDTAMZNJMP Securities says Amazon shifting to 'execution mode,' ups to Outperform
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06:41 EDTGOOGLG denies rumors that Google will take 35% stake, Korea Herald reports
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06:38 EDTAAPLApple downgraded to Market Perform from Outperform at Cowen
Cowen analyst Timothy Arcuri downgraded Apple to Market Perform and lowered his price target for shares to $130 from $140 following the iPhone maker's June quarter results. In a research note titled "Every Rose Has Its Thorn," Arcuri says "tepid" iPhone sales in the quarter coupled with his supply-side channel checks indicate that phone builds are down cycle-over-cycle for the first time. June quarter iPhone units were weaker than expected even after adjusting for channel inventory, the analyst tells investors. Apple is entering a transition period and the stock's risk/reward no longer supports a buy rating, Arcuri writes. Shares of Apple are down $7.09 to $123.66 in pre-market trading. On the flip side, Piper Jaffray analyst Gene Munster recommends buying the iPhone maker on today's selloff.
06:35 EDTAMZNAmazon.com upgraded to Outperform from Market Perform at JMP Securities
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06:15 EDTGOOGGoogle's updated Glass to be foldable, more weather-resistant, 9to5Google says
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06:12 EDTAMZNAmazon.com's Home Services expands to many cities throughout U.S.
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06:08 EDTGOOG, AMZNSony to create drone company to offer services for business customers, WSJ says
Sony (SNE) plans to create a drone company to offer services like inspecting aged infrastructure and surveying land that is difficult to access, The Wall Street Journal reports. The drone company, Aerosense, will be created in a joint venture with ZMP Inc, a Tokyo startup which specializes in autopilot technology. Amazon (AMZN) and Google (GOOG) are currently researching the use of drones for package delivery, the report notes. Reference Link
05:55 EDTAAPLApple Watch component reserves to remain high until September, DigiTimes reports
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05:38 EDTAAPLPiper's Munster a buyer of Apple today on the selloff
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05:29 EDTGOOGStocks with implied volatility below IV index mean; WMB GOOG
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05:27 EDTAMZNStocks with implied volatility above IV index mean; XOMA AMZN
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05:17 EDTAAPLApple shares drop after iPhone sales, guidance fail to impress
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July 21, 2015
19:09 EDTGOOGYahoo CEO sees Q3 pressure on revenue ex-TAC and adjusted EBITDA
Speaking on the company's Q2 earnings conference call, Yahoo (YHOO) CEO Marissa Mayer said she is "pleased" with momentum in display business, adding that the company will continue to focus on sustaining GAAP revenue growth while striving to grow adjusted EBITDA. She noted search clicks were up 13% for the quarter, and mobile user base was up 14%. Mayer cautioned that the Gemini search platform will see pricing pressure and reduced revenue per search in the near-term as Yahoo optimizes the service. She said she expects "some" pressure in Q3 including pressure on revenue ex-TAC and adjusted EBITDA, and remarked separately that Yahoo has been investing "modestly" over the past two years in algorithmic and paid search technologies. Finally, Mayer declined to speculate on any future agreements with Google (GOOG). CFO Ken Goldman said the company's "highest priority" is to execute the Alibaba (BABA) spinoff this year. Goldman also noted that Yahoo's board of directors and management team have met with advisors to review alternatives with regards to Yahoo Japan, but had no specific conclusion to share.
19:00 EDTAAPLOn The Fly: After Hours Movers
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18:14 EDTAAPLApple supplier stocks sink after iPhone, iPad unit volumes lower sequentially
Shares of iPhone suppliers, including Skyworks (SWKS), Cirrus Logic (CRUS), NXP Semiconductors (NXPI), and QUALCOMM (QCOM), are trading lower after Apple (AAPL) reported third quarter earnings after the close. WHAT'S NOTABLE: Apple reported iPhone unit volume of 47.5M in Q3 versus 61.1M in the prior quarter. Apple's iPad unit volume was 10.9M for Q3, lower than the 12.6M unit volume reported in the prior quarter. PRICE ACTION: Apple is sinking almost 7% in after-hours trading, while its suppliers are also lower, with Skyworks down more than 5%, Cirrus Logic down just under 5%, NXP Semiconductors slumping almost 5%, and QUALCOMM sliding 1.2%.
17:58 EDTAAPLApple says remains 'extremely bullish' on China
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17:50 EDTAAPLApple says India iPhone sales up 93%, Korea up 100%
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17:25 EDTAAPLApple says 'seeing great momentum' in enterprise market
Says happy with progress with IBM (IBM) partnership. Says Apps store revenue more than doubled in China. Says Watch sales offset iPod sales decline. Says will not release Watch sales results. Comments from Q3 earnings conference call.
17:14 EDTAAPLApple CEO Cook says iPhone continues to gain 'significant share'
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16:41 EDTAAPLApple calls Watch launch successful, does not give sales figures
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16:33 EDTAAPLApple shares drop 8% to $120.56 following Q3 report
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16:33 EDTAAPLApple reports Q3 iPhone units 47.53M vs. 61.17M last quarter
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16:31 EDTAAPLApple reports Q3 gross margin 39.7% vs. 39.4% last year
International sales accounted for 64% of the quarter’s revenue.
16:30 EDTAAPLApple sees Q4 revenue $49B-$51B, consensus $51.05B
Sees Q4 gross margin 38.5%-39.5%.
16:30 EDTAAPLApple reports Q3 EPS $1.85, consensus $1.81
Reports Q3 revenue $49.6B, consensus $49.31B.
16:01 EDTAAPLOptions Update; July 21, 2015
iPath S&P 500 VIX Short-Term Futures down 13c to 16.20. Option volume leaders: AAPL BAC FB BAC MSFT NFLX AMD IBM CHK
15:56 EDTAAPLApple July weekly 131 straddle priced for 5.2% movement into Q3
15:02 EDTAAPLNotable companies reporting after market close
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14:14 EDTAAPLEarnings Watch: Apple flat since last report with iPhone, Watch results in focus
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14:02 EDTGOOGYouTube pulls Streamus app, Variety reports
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13:43 EDTAAPLApple services restored after nearly 4-hour outage, CNBC reports
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13:40 EDTNOKNokia to unveil virtual reality project next week, Re/code reports
Nokia plans to unveil its first major virtual reality project next week at a special event in Los Angeles, California, Re/code reports, citing sources familiar with the company's plans. Reference Link
13:33 EDTGOOGGoogle acquires Pixate, terms not disclosed
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13:21 EDTAAPLApple July weekly 131 straddle priced for 4.7% movement into Q3
12:59 EDTGOOGEarnings Watch: Tax questions linger into Yahoo Q2 report
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11:39 EDTAAPLApple experiencing issues with App Store, iTunes Store, CNBC reports
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10:05 EDTAAPLApple technical notes ahead of results
The stock has been trading in a range since February of this year that is bound by a low at $120 and a high at $133. There have been three touches at the range high since then and two tests at the low suggesting the bias is for a breakout. If the news is strongly bullish, notably around China sales and guidance, a breakout above $133 and the brief life high at $134.54 would be highly probable. Based on the height of the range the upside potential would be to $147 to $150. Without overhead resistance, price could continue to drift beyond that objective depending on the strength of the news. If the news is a bearish surprise, which very few expect, the low of the range would likely be tested for a third time. A breakdown below $120 would have the same range expectations as on the upside, with a downside target potential to $107 to $105 implied from the range height. Such a move would break the 10-month moving average at $122.16 which has been a good proxy for the uptrend that began off lows in August 2013. The last time this average was broken was during the downturn in price in late 2012 which then ended in August 2013.
09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL FB IBM TSLA BAC PVA NFLX
09:06 EDTGOOGADT Corp. announces partnership with Nest Labs
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07:45 EDTAAPL, GOOG, AMZNSell PayPal amid mounting payments competition, Piper says
Shares of PayPal (PYPL) advanced over 5% yesterday in the stock's first day of trading following a split from eBay (EBAY), with the majority of research firms issuing optimistic notes on its prospects. This morning, however, analyst Gene Munster of Piper Jaffray recommends selling the share as competition grows in the digital payments space. BEARS: Munster started shares of PayPal with an Underweight rating, the firm's equivalent of a "Sell," saying increased competition could pressure the stock's multiple over the next 6-24 months. Google's (GOOG) Android Pay and Apple's (AAPL) Apple Pay will give consumers a "real alternative to PayPal" for the first time, Munster tells investors in his research note. In addition, interest in payments from Amazon.com (AMZN) and Facebook (FB) bring potential for more digital wallet offerings, the analyst notes. Munster set a $30 price target for PayPal. Of note, Evercore ISI also started coverage of PayPal shares yesterday with a Sell rating. BULLS: Wells Fargo initiated coverage of PayPal yesterday with an Outperform rating, saying the company's unique assets will enable it to maintain its leadership role in digital payments and benefit from the growth of e-commerce. Also upbeat was Robert W. Baird analyst Colin Sebastian, who contends that PayPal has the top pure play online payment system and is continuing to grow its share of the Internet payment market. PayPal should be able to innovate more effectively after its spin-off, added the analyst, who set a $45 price target on the shares. PRICE ACTION: Shares of PayPal are pointing toward further gains in their second day of standalone trading, with the stock up about 2.7% to $41.55 in pre-market trading.
07:38 EDTAAPLApple July weekly volatility elevated into Q2 and outlook
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07:36 EDTGOOGGoogle shutting down Google+ Photos beginning August 1
Google said in a blog post, "In May, we launched Google Photos as the home for all your photos and videos. With Google Photos you can store unlimited high quality photos and videos for free, find photos fast, and see them organized by what matters to you. Plus, you can bring moments to life and share anywhere with anyone. In an effort to ensure everyone has the best photos experience we can deliver, on August 1st we’ll start to shut down Google+ Photos -- initially on Android, and soon thereafter on the Web and iOS. If you’re still using Google+ Photos, now is a great time to make the switch. You may have seen a prompt in Google+ Photos on Android with a link to download the new Google Photos. Don’t worry, all your photos and videos will still be saved and available after you switch to the new, stand-alone Google Photos app. With the new app you’ll still be able to backup, edit, and share your photos and videos, with unlimited storage, automatic organization, and more." Reference Link
07:00 EDTAAPLApple granted patent for 'fine tuning' input taps, AppleInsider reports
A patent granted to Apple by the USPTO involves a method of highly granular user interface manipulations by tapping on the side of an iPhone to "nudge" onscreen items with great precision, reported AppleInsider. Reference Link
06:46 EDTAAPLApple July weekly 132 straddle priced for 4.7% movement into Q3
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06:42 EDTNOKNokia close to selling HERE to German auto makers, Bloomberg reports
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06:23 EDTAAPLApple's iPhone 6s will cut 16GB version, M.I.C. Gadget reports
Apple's (AAPL) new iPhone 6s and 6s Plus will not come with a 16GB edition yet will have a 32GB edition with more capacity, M.I.C. Gadget reports, citing "some Foxconn (FXCNY) insiders." Reference Link
06:19 EDTGOOG, AAPLSilicon Valley giants side with Samsung in battle with Apple, InsideSources says
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05:34 EDTGOOG, AAPL, AMZNPayPal initiated with an Underweight at Piper Jaffray
Piper Jaffray analyst Gene Munster started shares of PayPal (PYPL) with an Underweight rating saying increased competition could pressure the stock's multiple over the next 6-24 months. Underweight is Piper's equivalent of a sell rating. Google's (GOOG) Android Pay and Apple's (AAPL) Apple Pay will give consumers a "real alternative to PayPal" for the first time, Munster tells investors in a research note. In addition, interest in payments from Amazon.com (AMZN) and Facebook (FB) bring potential for more digital wallet offerings, the analyst notes. Munster set a $30 price target for PayPal, which began trading yesterday following a spinoff from parent company eBay (EBAY). Shares of the online payment system closed Monday up $2.08 to $40.47.
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