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Stock Market & Financial Investment News

News Breaks
January 31, 2014
12:15 EDTGOOG, AMZN, WMT, CMG, ZNGA, N, GDOT, MPOOn The Fly: Midday Wrap
Stocks on Wall Street were sharply lower at the outset, but the averages have managed to cut their losses in half from that early low point. The market is approaching correction territory and investors may have tried to take advantage of stocks being beaten up to add to positions. With today's slide the market is putting the finishing touches on its first losing month since August. ECONOMIC EVENTS: In the U.S., personal income was reported to be flat in December, versus expectations for it to have grown 0.2%, though spending rose 0.4%, which was above the forecast for spending growth of 0.2%. Employment costs rose 0.5% during the fourth quarter, versus the expected increase of 0.4%. The Chicago ISM business barometer dropped to 59.6 in January from 60.8 in December, though that was a little better than analysts forecast for it to slip to 59.5. The University of Michigan consumer sentiment index fell to 81.2 in the final January print, though that was close to expectations. In Europe, reports on the labor market and inflation suggested that the ECB will be under pressure to provide more monetary stimulus. The unemployment rate in the euro zone was 12% in December, unchanged since October after a revision of prior months’ data. The inflation rate came in at 0.7% in January, which is down from 0.8% in December and significantly lower than economists expected. The “core” rate excluding energy, food, alcohol and tobacco, rose to 0.8% in January from 0.7% in the prior month. COMPANY NEWS: The world's largest retailer, Wal-Mart (WMT), warned that its profits for its Holiday quarter and for the year may come in at or slightly below its prior view. The company said two factors contributed to its lower than expected comparable store sales performance in the U.S., namely a greater than expected impact from the government's changes to its nutrition assistance program and eight named winter storms that forced store closures and hurt traffic throughout the quarter. Despite the downbeat view, shares of the company were fractionally higher near noon... Shares of another retail giant, on-line retailer Amazon.com (AMZN), fell 9% after the company’s fourth quarter results and first quarter guidance fell short of analysts’ expectations. Despite earnings and revenue that came in below forecasts, analyst commentary was mostly positive this morning, as four separate research firms raised their respective price targets on Amazon... Google (GOOG) edged closer to $1,200 per share, rising almost 4% near noon after its quarterly report last night revealed profits that fell a bit short of expectations but revenues that exceeded the consensus estimate. Several firms ratcheted up their price targets on the search leader's shares after the report, with FBN Securities bumping its price target for Google to $1,400, citing the company's strong paid click growth and improving network revenue. MAJOR MOVERS: Among the notable gainers was Zynga (ZNGA), which advanced 16% after the company reported a narrower-than-expected quarterly loss and said it expects to be profitable in 2014. The mobile game maker also announced a deal to acquire NaturalMotion for $527M and disclosed plans to cut 15% of its workforce. Also higher was Chipotle Mexican Grill (CMG), which rose nearly 14% to be the S&P 500's biggest gainer after the Mexican restaurant chain reported fourth quarter revenue that beat estimates and comparable restaurant sales that increased 9.3%. Among the noteworthy losers following their quarterly reports were software provider NetSuite (N), down more than 7% near noon, and pre-paid debit card provider Green Dot (GDOT), which fell over 16%. Also lower was Midstates Petroleum (MPO), down 14% after analysts at Morgan Stanley downgraded the stock to Equal Weight from Overweight, citing the company's disappointing production guidance. INDEXES: Near midday, the Dow was down 86.04, or 0.54%, to 15,762.57, the Nasdaq was down 9.38, or 0.23%, to 4,113.75, and the S&P 500 was down 5.32, or 0.30%, to 1,788.87.
News For GOOG;AMZN;WMT;CMG;ZNGA;N;GDOT;MPO From The Last 14 Days
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October 9, 2014
14:37 EDTGOOGYahoo looking to make Tumblr another YouTube, Business Insider says
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14:35 EDTAMZNAmazon.com falls to lows of the day, levels to watch
The shares are down over 2% and just off the lows of the session at $315.33. At current price, resistance is at $317.13. Support is at $315.33 and then at $314.14.
14:34 EDTAMZNAmazon plans first physical retail store in NYC, WSJ reports
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14:23 EDTAMZNAmazon plans first physical retail store in NYC, DJ reports
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11:42 EDTCMGRuby Tuesday surges after Q1 profit beats estimates
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10:00 EDTNOn The Fly: Analyst Initiation Summary
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07:34 EDTNNetSuite initiated with a Buy at MKM Partners
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06:33 EDTAMZNCourt considers whether to pay Amazon workers for security checks, WSJ says
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06:29 EDTGOOGIDC: Worldwide PC shipments down 1.7% in Q3, DigiTimes reports
Worldwide PC shipments are down 1.7% with 78.5M units shipped in Q3, reports DigiTimes, citing the IDC. Shipments in the US grew 4.3% to 17.3M, with growth centered from strong momentum in te portables category. Reference Link
06:26 EDTAMZN, GOOGGoogle's tax arrangement facing new challenge by France, WSJ reports
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October 8, 2014
17:53 EDTAMZNAmazon.com expands operations in Costa Rica, creates more than 1,000 new jobs
Amazon Support Services in Costa Rica inaugurates its fourth service center and announces 1,000 new jobs at its offices located in Calle Blancos and Lagunilla. The Earth's most customer centric company offers seasonal jobs and permanent positions with open dress code, paid training, transportation, doctor on site, plus others. The new operation comes as part of the $19M accumulated investment by 2014. With the company's expansion and the ongoing hiring of staff at its other sites, Amazon expects to employ more than 3,000 persons in Costa Rica by the end of 2014.
16:01 EDTAMZNOptions Update; October 8, 2014
iPath S&P 500 VIX Short-Term Futures down 2.73 to 29.51. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX PBR AA CLF GILD according to Track Data.
11:41 EDTAMZNJ.C. Penney says store base count 'roughly' where it needs to be
Says evaluating stores to see if EBITDA accretive. Says "disciplined" regarding promotions. Says won't risk margin over promotions. Says Apple (AAPL), Samsung (SSNLF), Amazon (AMZN) taking "chunk" out of consumer spending. Sees returning to 37%-39% gross margins over time.
10:48 EDTZNGAGlu drops despite Benchmark optimism about Kardashian game
Research firm Benchmark Co. upgraded digital video game maker Glu Mobile (GLUU) to Buy from Hold, based on optimism about the company's upcoming third quarter earnings report. WHAT'S NEW: Glu may report higher than expected third quarter sales and earnings before interest taxes depreciation and amortization on October 29, Benchmark analyst Mike Hickey wrote in a note to investors today. The company may also raise its fourth quarter guidance, Hickey believes. Glu's results are being lifted by the success of the company's "Kim Kardashian: Hollywood" game, the analyst believes. He has a $5.90 price target on the name. WHAT'S NOTABLE: Taking the opposite view on Glu Mobile in an article yesterday was a short-selling blog, TheStreetSweeper. The blog said it "wouldn't be surprised" if the company cut its Q4 guidance, as Kim Kardashian and other Glu games "are fading fast." Company insiders are "selling huge chinks" of the company's shares, added the blog. Northland Capital analyst Darren Aftahi yesterday countered by accusing TheStreetSweeper of "acting as a megaphone" for shorts in the name, trying to drive down the stock in a weak market, and producing an article that is "full of conjecture." The analyst said he thinks the company could beat Q3 revenue expectations by a large amount, potentially producing a "massive short squeeze." OTHERS TO WATCH: Other digital video game makers include Zynga (ZNGA) and King Digital (KING). PRICE ACTION: In early trading, Glu dropped 4% to $4.56.
09:48 EDTGOOGGoogle says new movies can be pre-ordered, watched on first day of availibility
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09:42 EDTAMZNeBay SSS rose 8.9% in September, Amazon SSS up 37.9%, ChannelAdvisor says
Amazon's (AMZN) September SSS rose 37.9%, a decrease compared to August's 45.1%, ChannelAdvisor reported. eBay's (EBAY) September came in at 8.9% up from August's 5.9%, but below the e-commerce growth rate. "This is the first up-tick in eBay SSS since June and indicates that eBay is recovering from the breach and Google issues," ChannelAdvisor stated. Reference Link
07:46 EDTGOOGcomScore well positioned for change, says Brean Capital
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07:32 EDTNFederal Reserve Bank of Chicago President to speak on the economy
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06:53 EDTAMZNAmazon has not enacted Luxembourg special tax agreements, Reuters says
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06:13 EDTAMZNNon-Apple notebook, tablet demand to be weak till 2Q15, DigiTimes reports
Demand for non-Apple (AAPL) notebooks and tablets may remain weak until the second quarter of 2015, reports DigiTimes. Citing Taiwan makers, the pressure due to booming sales from Apple products may decrease sales until Microsoft (MSFT) launches Windows 10 next year. Demand for Samsung (SSNLF), Sony (SNE) , And HTC smartphones have also dropped worldwide recently. Reference Link
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