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News For GOOG;AAPL From The Last 14 Days
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October 5, 2015
18:28 EDTAAPLApple acquires startup Perceptio, Bloomberg says
Apple acquired Perceptio, a startup "developing technology to let companies run advanced artificial intelligence systems on smartphones without needing to share as much user data," according to Bloomberg. The acquisition was confirmed by Apple, but terms were not disclosed. Reference Link
16:16 EDTAAPLOn The Fly: Top stock stories for Monday
The Dow began the day with a triple digit jump and continued to tack on gains from there, rising nearly 2% by the time the closing bell rang. The Nasdaq and S&P also posted significant gains in the market's broad based advance. The number of advancing stocks crushed the number of declining stocks while the up volume overwhelmed the down volume. The S&P 500 is now on a five day winning streak with earnings season set to unofficially begin on Thursday, when Alcoa (AA) releases its quarterly report after the close. ECONOMIC EVENTS: In the U.S., Markit's services PMI dropped to 55.1 in the final September print, compared to the preliminary reading of 55.6 and August's 56.1 figure. ISM's services index dropped 2.1 points to 56.9 in September, versus expectations for a more modest pullback to a reading of 57.5. COMPANY NEWS: General Electric (GE) was the best performer on the Dow, advancing $1.35, or 5.3%, to $26.82 after activist investor Nelson Peltz disclosed that his firm, Trian Fund Management, has accumulated a $2.5B stake, making it one of the company's top ten shareholders. Trian, which believes GE is "executing a bold transformation" from a broad conglomerate into an industrial company, predicted that GE stock may be worth $40-$45 per share by 2017... Shares of Twitter (TWTR) rose $1.85, or 7.03%, to $28.16 after the company appointed co-founder and interim Chief Executive Jack Dorsey as permanent CEO. Analysts welcomed the news, saying Dorsey was simply "too good to pass up" despite his concurrent role as head of payments company Square. Axiom analyst Victor Anthony upgraded the stock to Buy from Hold, though the rating change was made prior to this morning's CEO news, which had been previewed last week by Re/code, was confirmed by the company... The U.S., Japan and ten other countries came to terms on the Trans-Pacific Partnership, a trade agreement meant to open agricultural markets, tighten intellectual property rules and establish a group that will have the clout to challenge China's influence in the region. Reacting to the deal, Honeywell (HON) said trade agreements like the TPP have the potential to boost exports, support jobs, and increase access abroad, while Boeing (BA) pointed out that more than 70% of its commercial airplane revenue last year came from customers outside the U.S. MAJOR MOVERS: Among the notable gainers was Spark Therapeutics (ONCE), which surged $9.09, or 20.69%, to $53.02 after the Phase 3 trial of the company's lead gene therapy product met its primary endpoint. Also higher was SunEdison (SUNE), which gained 77c, or 9.31%, to $9.04 after announcing plans to optimize its business operations by refocusing on its core markets and simplifying its structure, among other initiatives. Among the noteworthy losers were a number of Apple (AAPL) chip suppliers, with Cirrus Logic (CRUS), Skyworks (SWKS) and Avago (AVGO) falling a respective 4.5%, 1.7%, and 2.6% after Citi analysts lowered fourth quarter iPhone sales estimates. Also lower was Valeant (VRX), which lost $18.86, or 10.34%, to $163.46 after its alleged "price hike" business strategy was highlighted in reports by the New York Times and Barron's. Additionally, AtriCure (ATRC) declined 8.8% to $20.47 after releasing preliminary third quarter results and agreeing to acquire cardiac device maker nContact. INDEXES: The Dow gained 304.06, or 1.85%, to 16,776.43, the Nasdaq advanced 73.49, or 1.56%, to 4,781.26, and the S&P 500 rose 35.69, or 1.83%, to 1,987.05.
16:00 EDTAAPLOptions Update; October 5, 2015
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15:28 EDTAAPLCiti lowers iPhone unit sales estimates for Q4
Shares of Apple (AAPL) are underperforming a strong broader market rally after Citi lowered its fourth quarter iPhone unit sales estimates in a note to investors earlier. WHAT'S NEW: Not all of Apple's first weekend sales of iPhone 6S and 6S will be included in the company's Q4 earnings, Citi analyst Jim Suva wrote. Suva, who has a Buy rating and $145 target price on Apple shares, said that although first weekend sales of 13M units of iPhone 6S and 6S Plus exceeded sell side targets, Apple noted that not all of these units unit sales will be included in Apple's Q4 earnings given cut off of the reporting quarter. Only sales through Friday and Saturday of the weekend launch will be included in Q4. The remainder of the units sold on Sunday will be reported in December financial results, said Suva. As a result, Citi reduced its iPhone unit estimates to 47M from its prior view of 48M. This is below the Q4 consensus of 48M. The remaining units will be shifted to the December quarter. Citi expects many sell-side analysts to follow suit and lower their September quarter iPhone estimates in the weeks ahead before Apple reports on October 27. According to the Citi note, Apple share volatility will continue and the firm sees limited earnings and sales upside potential in the near-term causing some investors to exit the stock. The investment thesis for Apple is likely to shift from an iPhone "beat and raise" investment story to a gross margin upside story heading into a difficult comp year for iPhone 6S unit sales, Suva tells investors. He thinks any pullback will prove an attractive opportunity for long-term investors. WHAT'S NOTABLE: Late last week, an article from the DigiTimes said Apple may be adjusting its chip orders lower for Q4. Sources said that a substantial integrated circuit supplier is saying that Apple has "slightly lowered its demand for supplies for the new iPhones for December," the report said. The sources said that overall shipments of the iPhone 6s series are expected to reach 75M-80M units in Q3 and 65M-70M units in Q4.PRICE ACTION: In late afternoon trading, shares of Apple are underperforming broader market measures and are up 0.4% compared to a 1.75% gain for the S&P 500. OTHERS TO WATCH: Shares of Apple chip suppliers are also relatively weak, with Cirrus Logic (CRUS) down almost 4%, Skyworks Solutions (SWKS) sliding 2.5%, Qorvo (QRVO) trading near flat, Avago (AVGO) lower by 1.4%, and NXP Semiconductors (NXPI) down 0.25%.
14:46 EDTGOOGGoogle takes stake in financial messaging start-up Symphony, WSJ reports
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14:37 EDTGOOGGoogle takes stake in financial messaging start-up Symphony, WSJ reports
14:33 EDTAAPLApple won't renew expiring VMware licensing deal, CRN reports
Apple (AAPL) has been using VMware (VMW) software to run parts of its corporate IT infrastructure, but the iPhone giant won't renew an expiring enterprise licensing agreement with VMware and will be stepping up its deployment of an open-source alternative, according to CRN, citing multiple sources with knowledge of the matter. One source said the VMware ELA extension would have cost around $20M, the report noted. VMware shares are still up fractionally in afternoon trading but have slipped from where they were trading before the CRN report was circulated. Reference Link
14:29 EDTAAPLApple won't renew expiring VMware licensing deal, CRN reports
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12:51 EDTGOOGRussia tells Google in antitrust ruling to unbundle services in Android phones
Russia's Federal Anti-Monopoly Service has given Google (GOOG) until November 18 to unbundle its pre-installed applications in devices running the Android operating system, according to a translation of an order posted to the regulator's website. The regulator said Google can't restrict other apps and services in order so that it does not abuse its dominant market position, according to the translation. "To restore competition on the market, Google should amend agreements with mobile-device producers within a month and exclude the anti-competitive clauses," Russia's regulator said. Google may also face a fine of 1%-15% of the revenue from the services where the violation occurred, according to the Federal Anti-Monopoly Service. Shares of Yandex (YNDX), which competes with Google in Russia and had initiated the complaint to the regulator, rose $1.11, or 9.8% to $12.45 in afternoon trading in New York. Reference Link
09:44 EDTAAPLActive equity options trading on open
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09:39 EDTGOOGeSports seen as next big growth opportunity in media
Competitive video game playing in organized leagues, or eSports, is on the verge of reaching mainstream adoption and moving from an engagement tool to a monetization opportunity for video game makers, according to Baird analyst Colin Sebastian, who calls the trend the "biggest media and sports growth opportunity you've never heard of." NEXT BIG THING: eSports could have 200M active and engaged participants as early as next year and can grow from about $200M this year to $1B in revenues by 2018, Sebastian tells investors this morning in a research note. Game publishers such as Activision Blizzard (ATVI), Electronic Arts (EA) and Take-Two Interactive (TTWO) are "natural beneficiaries," according to Sebastian, who believes that eSports has the potential to drive earnings growth and multiple expansion for the sector. eSports is still mainly a tool to help engage and keep core gamers, but Sebastian expects this to change quickly as game makers focus on incremental revenue opportunities and increasing average revenue per user. The analyst also sees "significant opportunities" from eSports for online streaming platforms, like Amazon's (AMZN) Twitch and Google's (GOOG) newer platform, as well as for Microsoft (MSFT), Sony (SNE) and PC and component makers. ANOTHER eSPORTS BULL: Jefferies analyst Mark Lipacis previously told investors that he believes the surging popularity of competitive video gaming on a global basis will benefit game publishers as well as hardware companies like NVIDIA (NVDA). In a note to investors last month, the analyst said that Activision Blizzard had five of the top fifteen most popular games on Twitch in July, and contended that the company looks best positioned among game makers to benefit from the eSports opportunity. On the date of his eSports note, Lipacis upgraded NVIDIA to Buy from Hold, saying secular growth in gaming will trump PC weakness. The company's Gaming Graphics Processing Unit is "under the radar" and has grown 23% annually over the past three years, noted Lipacis, who raised his price target for shares to $30 from $23. PRICE ACTION: In early trading, Activision Blizzard rose 1.4% to $31.90, Electronic Arts gained 1.04% to $67.18 and Take-Two Interactive advanced 0.85% to $29.64.
08:28 EDTAAPLCiti sees reasons for investors to exit Apple over near-term
Citi analyst Jim Suva dropped his September quarter earnings per share estimate for Apple to $9.06 from $9.14 after shifting some iPhone sales to the December quarter. Suva dropped his iPhone estimate for the quarter to 47M, below the consensus of 48M as only sales through Friday and Saturday of the weekend launch will be included in the quarter. He expects many sell-side analysts to follow suit and lower their September quarter iPhone estimates in the weeks ahead before Apple reports on October 27. Suva expects Apple share volatility to continue and thinks limited earnings and sales upside potential in the near term may cause some investors to exit the stock. The investment thesis for Apple is likely to shift from an iPhone "beat and raise" investment story to a gross margin upside story heading into a difficult comp year for iPhone 6S unit sales, Suva tells investors in a research note. He thinks any pullback will prove an attractive opportunity for long-term investors. The analyst keeps a Buy rating on Apple with a $145 price target. The iPhone maker closed Friday up 80c to $110.38.
08:02 EDTGOOGGoogle, Assurant Solutions partner to offer Nexus Protect
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06:11 EDTAAPLApple iOS users in China, Taiwan targeted by ad-focused malware
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06:00 EDTAAPLReports: iPhone 6s & 6s Plus were weaker than iPhone 6 in Japan, DigiTimes says
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October 4, 2015
18:23 EDTGOOGGoogle completes Alphabet merger
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13:54 EDTGOOGGoogle, Facebook set to continue dominating web ads, Barron's says
Google (GOOG) and Facebook (FB) are likely to continue dominating online advertising, with Twitter (TWTR), Yahoo (YHOO), and LinkedIn (LNKD) increasingly becoming "distant rivals" as advertisers flock to the two biggest names in the space, Barron's contends in its 'Technology Trader' column. Shares of Google and Facebook "probably have decent upside from here," while the future of Angie's List (ANGI) and Yelp (YELP) looks "less certain," Barron's adds. Reference Link
October 2, 2015
16:46 EDTAAPLStocks end week higher after Friday reversal following disappointing jobs data
U.S. markets fell sharply following a weaker than expected nonfarm payrolls report on Friday morning, but rallied back to finish the day, and the week, slightly higher. MACRO NEWS: In the U.S., 142,000 nonfarm jobs were added last month, missing expectations for 201,000 job additions. Average hourly earnings were flat month-over-month, compared to expectations for them to rise 0.2% in September. The unemployment rate held at 5.1%, as expected. Factory orders fell 1.7% in August, versus expectations for them to drop 1.2%. Personal income grew 0.3% in August, versus expectations for it to rise 0.4%. Personal spending rose 0.4% last month, versus expectations for growth of 0.3%. Consumer confidence unexpectedly rose in September, as a confidence reading strengthened to 103.0. Markit's manufacturing purchasing managers' index inched up to 53.1 in the final September reading, compared to the preliminary September figure of 53.0. ISM's manufacturing index fell to 50.2 in September, versus expectations for a reading of 50.6... Chinese markets will be closed for "Golden Week" from October 1 to October 7, but monthly manufacturing data was still released. The government's official manufacturing PMI ticked up to 49.8, beating expectations for a 49.6 reading, while the final Caixin/Markit PMI fell to 47.2 in September, though that was slightly improved from an earlier flash estimate of 47. In Japan, the central bank's quarterly tankan survey of large manufacturers for the September quarter came in at positive 12, compared with expectations for a positive 13 reading. Elsewhere in Asia, the Reserve Bank of India made a larger than expected cut to its interest rates, lowering its benchmark policy rate to 6.75% from 7.25%... In Europe, Markit's final Eurozone manufacturing PMI for September came in at 52.0, down from August's final 52.3 reading but still in expansion territory. COMPANY NEWS: Apple (AAPL) reported that it set a record by selling more than 13M new iPhone 6s and iPhone 6s Plus models in the first three days after launch of the devices. However, shares of the tech giant slid following the announcement... Biotech stocks continued recent declines, with Valeant (VRX) dropping after a group of Democratic congressmen urged additional scrutiny of the company's "price hike" business model... Re/code's Kara Swisher and Kurt Wagner reported, citing sources, that Twitter (TWTR) founder and interim CEO Jack Dorsey was set to be named permanent Chief Executive, possibly as soon as Thursday, but no announcement had been made by the company by the end of the week. Shares of Gap (GPS) and Ralph Lauren (RL) moved in opposite directions after an executive for one left to take over for an icon at the other. At least three research firms downgraded Gap shares to sell or equivalent ratings and the stock fell after Stefan Larsson stepped down as global president of Old Navy in order to become the new Chief Executive Officer of Ralph Lauren, while the latter company's shares were upgraded and traded higher in the wake of the executive shake-up... On the M&A front, Reynolds American (RAI) announced that the international rights to the Natural American Spirit brand name and associated trademarks will be sold to the Japan Tobacco Group in an all-cash transaction with a value of about $5B. Nexstar (NXST) proposed to acquire Media General (MEG) for a combination of cash and shares that was valued at $14.50 per Media General share before the proposal was made public on September 28. Media General, which previously announced an agreement to buy Meredith Corporation (MDP), said it would "carefully review and consider the proposal" with the help of its advisors. Shares of Rentrak (RENT) and comScore (SCOR) both advanced after the companies announced a stock-for-stock merger agreement... General Motors (GM) reported its U.S. sales grew 12% in September compared to the same month of last year. Additionally, the auto giant hosted a global business update event, where it announced two new car- and ride-sharing projects and confirmed its plans to jointly develop a commercially viable fuel cell vehicle with Honda (HMC) in the 2020 timeframe. Meanwhile, Ford (F) said its U.S. sales rose 23% in September and Fiat Chrysler's (FCAU) U.S. sales increased 14% last month... FXCM (FXCM) disclosed that it was the victim of a cybersecurity attack involving "a small number of unauthorized wire transfers from customer accounts" and Experian (EXPGY) announced that one of its units experienced an attack by hackers that exposed data from its client T-Mobile (TMUS)... Wynn Resorts (WYNN), Las Vegas Sands (LVS), MGM Resorts (MGM) and Melco Crown (MPEL) all advanced at the end of the week following reports that the Chinese government may provide economic support to the gaming center Macau, where the companies operate casinos. INDEXES: The Dow gained about 0.96% to close at 16,472.37, the S&P 500 rose about 1.02% to close at 1,951.36, and the Nasdaq advanced about 0.43% to close at 4,707.77.
16:03 EDTAAPLOptions Update; October 2, 2015
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14:09 EDTAAPLApple November weekly volatility elevated
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