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Stock Market & Financial Investment News

News For GOOG;AAPL From The Last 14 Days
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January 14, 2015
09:46 EDTGOOGGoogle initiated with a Buy at Rosenblatt
Target $575.
09:36 EDTGOOG, AAPLActive equity options trading
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09:16 EDTAAPLOn The Fly: Pre-market Movers
HIGHER: ZIOPHARM (ZIOP), up 53% after the company and Intrexon (XON) announced a licensing agreement with University of Texas. Intrexon shares are also up 12%... GameStop (GME), up 10.6% after reporting holiday SSS, providing guidance for the fourth quarter and fiscal 2014, and being upgraded at Pacific Crest... Smith Micro (SMSI), up 12.7% after reporting preliminary fourth quarter revenue and providing revenue guidance for the first quarter and fiscal 2015... BioCryst (BCRX), up 3.2% after receiving a positive opinion on EMA orphan drug designation for BCX4161... GoPro (GPRO), up 1% following analyst remarks that sell-off after yesterday's report on Apple (AAPL) patent was "overdone." DOWN AFTER EARNINGS: JPMorgan (JPM), down 2.7%... Wells Fargo (WFC), down 2.2%... Banking peers down as well, with Bank of America (BAC) down 2.8% and Citi (C) down 2%. ALSO LOWER: Tesla (TSLA), down 9% following comments made by CEO Elon Musk at an automotive conference in Detroit regarding a slowdown in China... New Media (NEWM), down 4.8% after 7M share spot secondary priced at $21.70... General Motors (GM), down 3% after giving 2015 guidance, saying it is on track to meet previously announced 2016 financial targets... Apple (AAPL), down 1% following lawsuit against Ericsson (ERIC) and countersuit filing.
08:27 EDTAAPLGoPro sell-off overdone, says JMP Securities
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08:15 EDTGOOGGoogle sentiment may be overly negative, says RW Baird
Baird believes investor sentiment for Google may be overly negative, exacerbated by the accelerating shift to mobile. The firm believes that 50%-60% of Google's revenues are already coming from Mobile, Video, Local Enterprise and other segments, which removes worries about desktop dependence. Baird also noted the company's valuation is at the low end of comparable multiples, suggesting a favorable risk/reward scenario. Baird reiterated its Outperform rating and $680 price target on Google shares.
07:41 EDTGOOGGoogle risk/reward compelling, says SunTrust
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06:43 EDTAAPLCirrus Logic upgraded to Sector Perform from Underperform at Pacific Crest
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06:29 EDTGOOG, AAPLCompanies reach new deal on worker hiring issue, Reuters says
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06:14 EDTAAPL, GOOGMediaTek: Worldwide tablet shipments rise at slower pace, DigiTimes says
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05:49 EDTAAPLApple sues Ericsson over patent royalty rates, Bloomberg says
Apple (AAPL) filed a lawsuit against Ericsson (ERIC) in the U.S. District Court for the Northern District of California, stating that Ericsson's royalty rates are excessive and its patents are not essential to LTE standards, reports Bloomberg. Reference Link
05:28 EDTAAPLEricsson files complaint against Apple in U.S. District Court
Following Apple's (AAPL) action, Ericsson (ERIC) has filed a complaint in the U.S. District Court for the Eastern District of Texas requesting a ruling on Ericsson's proposed global licensing fees with Apple. During the past two years of negotiations, the companies have not been able to reach an agreement on licensing of Ericsson's patents that enable Apple's mobile devices to connect with the world and power many of their applications. Ericsson filed the suit in order to receive an independent assessment on whether Ericsson's global licensing offer complies with Ericsson's fair, reasonable, and non-discriminatory, or FRAND, commitment. The global license agreement between Ericsson and Apple for mobile technology has expired and Apple has declined to take a new license on offered FRAND terms. Ericsson's Q4 IPR revenue will include payment from Apple under previous agreement. Every Apple smartphone and tablet with cellular capability uses technology from Ericsson. On January 12, Apple filed a lawsuit asking the U.S. District Court for the Northern District of California to find that it does not infringe a small subset of Ericsson's patents.
January 13, 2015
16:24 EDTAAPLOn The Fly: Closing Wrap
The Wall Street averages spent time in both positive and negative territory during the session, before closing a bit below where they'd started the day. The market opened sharply higher after Alcoa’s (AA) better than expected report gave some optimism about the upcoming earnings season. The early move higher came despite oil continuing its slide. The major averages saw their highs shortly after the open and then began to drift slowly lower. By mid-afternoon the market was in the red, though the equity averages eventually made it briefly back into positive ground, but failed to hold those narrow gains into the close. ECONOMIC EVENTS: In the U.S., the NFIB small business optimism index for December came in at 100.4, which was stronger than the expected 98.5 reading. The JOLTS report showed job openings increased 142K to 4.972M in November, beating the 4.85M consensus forecast. Treasury posted a $1.9B surplus in December, which was a bit below the expected surplus of $3B. Also of note is the fact that the U.S. and European benchmarks of WTI and Brent crude were at parity for the first time since 2013 during the session, with both trading near $46 per barrel for a time. COMPANY NEWS: KB Home (KBH) reported better than expected revenue and higher orders in its fourth quarter, but the stock declined $2.70, or 16.29%, to $13.87 after CEO Jeffrey Mezger warned on the associated earnings call that margins could drop "significantly" in its current quarter from the levels seen last year. KB's margin outlook, which it blamed on rising costs, heavier use of incentives and a sequential decline in average selling prices, dragged down peers in the housing space as well. D.R. Horton (DHI), the biggest homebuilder by market cap, finished the day down $1.26, or 4.83%, to $24.82, while PulteGroup (PHM) also slid $56c, or 2.47%, to $22.13... MetLife (MET) said it will sue to oppose the U.S. Financial Stability Oversight Council’s designation of the insurer as a SIFI, or "systemically important financial institution." The life insurer called the label premature and said it has offered “substantial and compelling evidence” that it isn’t a SIFI. Wells Fargo said it thinks it is appropriate for MetLife to challenge the ruling, though the firm does not presently see a Dodd-Frank provision that enables an entity to shed its designation. Wells added that a MetLife victory would have no impact on either AIG (AIG) or Prudential (PRU), which did not challenge their SIFI designations before their windows closed. MAJOR MOVERS: Among the notable gainers was Emulex (ELX), which rose $1.21, or 20.86%, to $7.01 after the company issued better than expected guidance on its second quarter results. Also higher was McGraw Hill Financial (MHFI), which jumped $5.13, or 5.98%, to $90.89 after reports said the company's Standard & Poor’s rating unit was in talks about a potential $1B settlement to its fight with the Justice Department and state attorneys general over allegations of inflating credit ratings on mortgage investments preceding the financial crisis. Among the noteworthy losers was ChannelAdvisor (ECOM), which plunged $11.32, or 53.52%, to $9.83 after its fourth quarter revenue warning prompted no less than eight downgrades of the stock by Street analysts. Also lower were shares of Ocwen Financial (OCN), which dropped $4.41, or 36.18%, to $7.78 after the Los Angeles Times reported that California is seeking to suspend the company's mortgage license in the state. Altisource Portfolio Solutions (ASPS), which is a related company to Ocwen, also declined $10.45, or 38.79%, to $16.49. Shares of GoPro (GPRO) fell $6.91, or 12.17%, to $49.87 after the Patently Apple blog reported that Apple (AAPL) was granted a patent for a camera system that specifically mentions the weaknesses of GoPro devices. INDEXES: The Dow fell 27.16, or 0.15%, to 17,613.68, the Nasdaq lost 3.21, or 0.07%, to 4,661.50, and the S&P 500 dropped 5.23, or 0.26%, to 2,023.03.
16:00 EDTAAPLOptions Update; January 13, 2015
iPath S&P 500 VIX Short-Term Futures up 66c to 34.42. Option volume leaders: AAPL JNJ CELG WFM TSLA TWTR AMZN GILD according to Track Data.
15:55 EDTAAPLGoPro weakness due to Apple camera patent news is overdone, says Barclays
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13:56 EDTGOOGGM open to partnering with Google on self-driving cars, Time says
GM (GM) would be open to having a discussion with Google (GOOG) about jointly developing self-driving cars, GM Chief Technology Officer Jon Lauckner said, according to Time Magazine. Reference Link
12:33 EDTAAPLApple granted patent for remote-controlled camera system, Patently Apple says
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12:32 EDTGOOGGoogle February volatility elevated as shares rally from 14-month low
Google January call option implied volatility is at 21, January weekly is at 22, February is at 28, March is at 23; compared to its 26-week average of 22 according to Track Data, suggesting large near tem price movement.
10:59 EDTAAPLApple rises after Credit Suisse, Canaccord hike iPhone estimates
Shares of Apple (AAPL) are climbing after two research firms issued upbeat notes on the company in notes to investors today. WHAT'S NEW: Credit Suisse analyst Kulbinder Garcha upgraded Apple to Outperform from Market Perform. The company should sell 215M iPhones in both fiscal 2015 and fiscal 2016, Garcha estimated. Meanwhile, Apple's gross margins are being boosted by the increased popularity of both its 64 GB memory phones and of the IPhone 6 Plus, the analyst stated. Garcha increased his earnings per share estimate for the iPhone maker by 18% in fiscal 2015 and 20% in fiscal 2016. Additionally, the firm believes excessive net cash levels indicate a new $200B return program should occur. The analyst thinks the shares can reach $130 at least. After analyzing surveys in the U.S. that took place in December and into January, Canaccord analyst T. Michael Walkley said the surveys showed strong demand and market share gains for the new iPhones. The analyst increased his iPhone estimates for Apple's December quarter, as well as his estimates for the company's overall December quarter results. The increases were based on the positive demand trends, particularly for models with higher memory levels and prices, Walkley stated. He expects these positive trends to continue and reiterated a $135 price target and Buy rating on the shares. PRICE ACTION: In mid-morning trading, Apple climbed $3.39, or 3.1%, to $112.64.
10:00 EDTAAPLOn The Fly: Analyst Upgrade Summary
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09:36 EDTGOOG, AAPLActive equity options trading
Active equity options trading according to Track Data: AAPL AMD AA TWTR GILD C CELG TSLA GOOG
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