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Stock Market & Financial Investment News

News For GOOG;CAR;ZIP;RIG;BP From The Last 14 Days
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March 26, 2015
12:17 EDTGOOGEarnings Preview: Analyst sees BlackBerry's revenue bottoming in Q4
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11:37 EDTGOOGAnalyst says preliminary Google click data looks negative
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10:36 EDTGOOGGoogle paid clicks growth slowed in Q1, says Axiom
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09:27 EDTGOOGGoogle expands product ratings in search results to U.K., France, Germany
In a blog post, Google reported it is expanding its "product ratings" advertisement feature to the U.K., France, and Germany. The feature appends customer reviews to product ads that appear in search results. Reference Link
08:40 EDTGOOGFTC responds to recent Google reports, calls claims of impropriety factless
In a statement released yesterday, the Federal Trade Commission responded to recent news regarding its 2012 antitrust investigation of Google. The Commission stated the inadvertently disclosed memo is "only a fraction [of the total documents that were reviewed.] As we stated when the investigation was closed, the Commission concluded that Google’s search practices were not, 'on balance, demonstrably anticompetitive.' Contrary to recent press reports, the Commission’s decision on the search allegations was in accord with the recommendations of the FTC’s Bureau of Competition, Bureau of Economics, and Office of General Counsel. Some of the FTC’s staff attorneys on the investigation raised concerns about several other Google practices. In response, the Commission obtained commitments from Google regarding certain of those practices. Over the last two years, Google has abided by those commitments... On the same day that it closed the search investigation, the Commission settled a complaint alleging that Google’s conduct with regard to certain standard essential patents constituted unfair methods of competition under the FTC Act. The Wall Street Journal article 'Google Makes Most of Close Ties to White House' makes a number of misleading inferences and suggestions about the integrity of the FTC’s investigation. The article suggests that a series of disparate and unrelated meetings involving FTC officials and executive branch officials or Google representatives somehow affected the Commission’s decision to close the search investigation in early 2013. Not a single fact is offered to substantiate this misleading narrative. Finally, we regret the inadvertent disclosure of confidential documents and information in response to a Freedom of Information Act request. We are taking additional steps to ensure that such a disclosure does not occur in the future."
07:25 EDTGOOGThe Economist to hold a forum
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06:59 EDTGOOGFacebook video outpaces YouTube in recent metrics, BI says
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06:41 EDTGOOGTwitter to outpace Yahoo in display ad revenue, WSJ says
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06:36 EDTBPOil surges after Saudis attack Yemen rebels, Reuters reports
The price of West Texas Intermediate oil was up about 4% after Saudi Arabia and other countries bombed Iranian-backed rebel forces in Yemen, according to Reuters. OVerseas stocks fell signficantly following the attacks, the news service noted. Publicly traded oil companies include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
06:05 EDTGOOGIntel to partner with notebook makers for Chromebook 2-in-1s, DigiTimes says
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March 25, 2015
06:54 EDTGOOGPotential YouTube competitor launches, Variety says
Digital subscription video start-up Vessel, which is looking to compete with Google's (GOOG) YouTube, launched yesterday, according to Variety. Vessel was founded by Jason Kilar, the founding CEO of Hulu, the magazine stated. Disney (DIS), 20th Century Fox (FOX, FOXA), and Comcast (CMCSA) own stakes in Hulu. Reference Link
06:46 EDTGOOGGoogle visited White House 230 times during Obama administration, WSJ
Google employees have visited the White House to meet with senior officials roughly 230 times -- averaging once per week -- since President Obama took office, reports the Wall Street Journal, citing visitor logs and emails. CEO Larry Page met with FTC officials and Chairman Eric Schmidt met with a senior presidential adviser during the 2012 Google antitrust investigation, which was closed soon after the meetings. The Journal notes that on November 6, 2012, Schmidt personally oversaw a voter-turnout platform for Obama -- by the end of the month, the FTC had closed their investigation into the company. Reference Link
06:02 EDTGOOGYouTube to relaunch livestreaming platform, Daily Dot says
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March 24, 2015
16:20 EDTGOOGOn The Fly: Closing Wrap
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16:00 EDTGOOGOptions Update; March 24, 2015
iPath S&P 500 VIX Short-Term Futures down 10c to 25.14 Option volume leaders: AAPL TSLA TWTR GILD FB AMAT GOOG C MRK GILD according to Track Data.
15:33 EDTGOOGGoogle working on project to add bill pay function to Gmail, Re/code reports
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09:38 EDTGOOGActive equity options trading on open
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09:09 EDTGOOGMorgan Stanley CFO Porat to join Google as new CFO
Google (GOOG, GOOGL) and Morgan Stanley (MS) this morning announced that current Morgan Stanley Chief Financial Officer Ruth Porat will leave the firm and take on the same role at Google. WHAT'S NEW: Morgan Stanley said in a filing that Porat, who joined the firm in 1987, will leave the company, effective April 30. At Morgan Stanley, Porat was previously vice chairman of Investment Banking, global head of the Financial Institutions Group and and co-head of Technology Investment Banking. Google said in a separate statement that Porat will join the company as CFO on May 26. At Google, Porat will report to Google Chief Executive Officer and co-founder, Larry Page. WHAT'S NOTABLE: Jonathan Pruzan, currently co-head of the Global Financial Institutions Group in Investment Banking at Morgan Stanley, will succeed Porat as the bank's CFO upon Porat's departure. PRICE ACTION: Morgan Stanley is down 0.14% in pre-market trading and Google is up 1.09%.
08:59 EDTGOOGMorgan Stanley confirms Jonathan Pruzan will succeed Ruth Porat as CFO
Morgan Stanley (MS) announced in a filing that Ruth Porat, executive VP and CFO, would leave the company on April 30. In a memo, CEO James Gorman says, "After a 28-year career at Morgan Stanley, Ruth Porat has decided to leave the Firm to take on a new role in Silicon Valley and return to her California roots. It is with a heavy heart that we see her go. Ruth joined Morgan Stanley in 1987 and has played a number of key roles at the Firm, from her time leading the tech banking franchise during the Internet boom, to leading the FIG banking team during the financial crisis, then as CFO partnering with the senior team to transform Morgan Stanley for the new regulatory environment. She has been a mentor and sponsor to many colleagues, and a role model for even more. Her tremendous energy, diligence and insight have been an enormous asset to the Firm... Jonathan Pruzan, currently Co-Head of the Global Financial Institutions Group in Investment Banking, will be appointed CFO upon Ruth’s departure. Jon joined Morgan Stanley in 1994 and has spent more than 20 years at the Firm working with financial institution clients. He understands the current regulatory environment, having shepherded clients through the Fed’s stress test and CCAR processes. He brings both great technical skill and proven leadership to this new role. Jon has served on the Morgan Stanley/MUFG steering committee since 2013 and will continue to do so. He will join the Firm’s Operating Committee and Management Committee."
08:57 EDTGOOGGoogle confirms that Morgan Stanley's Ruth Porat to join company as CFO
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08:55 EDTGOOGGoogle to name Ruth Porat as CFO, Bloombeg reports
Dow Jones previously reported that Porat is leaving Morgan Stanley (MS).
06:42 EDTGOOGGoogle to start showing TV ads to Google Fiber customers, NY Times says
Google said it would soon begin showing local, targeted TV ads to customers of its Google Fiber service in Kansas City, Kansas and Kansas City, Missouri, according to The New York Times, which cited a letter that Google sent to its customers in those cities. Reference Link
05:58 EDTGOOGGoogle partners with Taiwan banks to nurture marketing talent, DigiTimes reports
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March 23, 2015
15:44 EDTRIGTransocean sees 2015-2018 newbuild CapEx at $1B-$1.8B per year
Transocean currently forecasts 2015-2018 newbuild CapEx at $1B-$1.8B per year. To improve fleet quality, Transocean said it will divest or scrap non]core assets and invest in high]specification rigs. Transocean says exploration successes support long]term ultra]deepwater demand. Market conditions are currently challenging and the rig market, including ultra]deepwater, is temporarily oversupplied, Transocean added. Continued progress on margin improvement initiatives help mitigate deteriorating market conditions with objective of about $800M in margin improvement by year]end 2015. Transocean said it will remain "disciplined and prudent" in terms of capital investment. Information from slides for the company's presentation at the Scotia Howard Weil Energy Conference.
10:32 EDTGOOGApple positioned to reach $1 trillion market cap, Cantor says
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09:29 EDTGOOGGoogle's Eric Schmidt says Google Glass is long-term project, WSJ reports
Google Executive Chairman Eric Schmidt said Google Glass is too important of a technology to scrap, reports the Wall Street Journal. Although Google stopped selling the first version of Glass, shut down its Explorer program, and made personnel changes, Schmidt said Google Glass remains a "big and very fundamental platform" for the company and will be a long-term project. Reference Link
08:13 EDTGOOGPendrell unit: Court rejects attempts to limit scope of DRM patents
ContentGuard Holdings, a subsidiary of Pendrell Corporation (PCO), announced that on Friday, March 20, Judge J. Rodney Gilstrap of the U.S. District Court for the Eastern District of Texas issued a 144 page Claim Construction Order in lawsuits ContentGuard filed against several companies who continue to use its patented Digital Rights Management solutions without a license, including Apple (AAPL), Amazon.com (AMZN), DirecTV (DTV), Google (GOOG), HTC, Huawei, Motorola Mobility and Samsung Electronics (SSNLF). In his order, Judge Gilstrap interpreted the language in ContentGuard’s patents in a manner that fully preserves the breadth of ContentGuard’s patented Digital Rights Management technologies. These technologies were developed to enable the distribution of digital media over the Internet and other networks, including cellular and satellite networks, and provide innovative solutions to problems that were once thought to be unsolvable. “We are very pleased with the Court’s ruling,” commented James Baker, ContentGuard’s Vice President for Licensing and Strategic Development. “We believe these claim constructions demonstrate that the online stores defendants provide for buying and renting DRM-protected movies, videos, books, and music and devices that play, run, display or print this DRM-protected content infringe ContentGuard’s pioneering DRM patents.”
06:47 EDTGOOGFTC staffers' position on Google may affect EU outlook, WSJ says
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06:00 EDTGOOGGoogle dives deeper into health data gathering, Financial Times reports
Google is diving deeper into the health sector, placing a series of bets that include Google Genomics and an investment in 23AndMe, reports the Financial Times. This comes after the company closed its Google Health division a few years ago and CEO Larry Page said regulations about the use of personal health data was holding back medical research. Reference Link
March 22, 2015
17:59 EDTBPOPEC will not take sole responsibility for supporting oil price, Reuters says
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17:07 EDTGOOGFTC disclosures embolden potential EU Google probe, WSJ says
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March 20, 2015
07:19 EDTBP, RIGWhite House expected to unveil fracking rules today, WSJ says
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06:37 EDTBPOil prices fall again, Reuters reports
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06:16 EDTGOOG2012 antitrust report calls Google harmful to market, WSJ says
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06:04 EDTGOOGGlobal smartphone shipments to reach 1.4B units in 2015, DigiTimes Research says
Global smartphone shipments in 2015 is expected to increase 16.4% to reach 1.40B units, reports DigiTimes Research. The shipment growth is due to higher growth in demand in emerging markets including India, Southeast Asia and Latin America. Android (GOOG) will account for 78.5% of 2015 global smartphone shipments, Apple's (AAPL) iOS 16.6%, Microsoft (MSFT) Windows 4% and BlackBerry (BBRY) 0.6%.Reference Link
March 19, 2015
15:35 EDTGOOGKey FTC staff wanted to sue Google on antitrust charges, WSJ says
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13:00 EDTRIGOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with Nasdaq slightly higher and the Dow and S&P 500 both down a bit more than 0.5%. The day’s economic reports were generally benign and are likely less significant to the trading action than participants having had some time to digest yesterday’s Fed comments. Immediately after the Fed's policy statement yesterday, the U.S. dollar fell as low as 1.10 against the euro, but that move was almost entirely reversed overnight. The dollar was back near pre-Fed levels against the euro early this morning, and similar moves were seen in pairs of the dollar and other major currencies. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. In Europe, the Swiss National Bank left rates unchanged, cut its growth forecasts for the country's economy, said that it will intervene in currency markets as needed since it believes the Swiss Franc remains overvalued. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average today, replacing AT&T (T). Shares of the iPhone maker were down 0.5% near midday, while AT&T stock fell a bit more than 1%... Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $98.50 earlier this afternoon following the company's investor day meeting yesterday. In conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. MAJOR MOVERS: Among the notable gainers was Coronado Biosciences (CNDO), which gained 42% after announcing the formation of a new company, Mustang Therapeutics, focused on Chimeric Antigen Receptor, or CAR-T, technology. The company also announced a licensing agreement with NeuPharma for EGFR inhibitors. Also higher was Guess (GES), which gained 15% after reporting higher than expected profits for its fiscal fourth quarter. Among the noteworthy losers was Transocean (RIG), which fell 6% after having announced last night that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI (E) for the Transocean Amirante was terminated. Transocean also said it intends to scrap four rigs, noting that with those it has announced plans to scrap a total of 16 floaters. Also lower following its earnings report was diversified apparel company Vince Holding (VNCE), which fell 16%. INDEXES: Near midday, the Dow was down 128.51, or 0.71%, to 17,947.68, the Nasdaq was up 3.15, or 0.06%, to 4,985.98, and the S&P 500 was down 13.36, or 0.64%, to 2,086.14.
11:24 EDTRIGStocks with call strike movement; X RIG
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11:18 EDTGOOGeBay cut to sell by noted analyst on mounting PayPal competition
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09:20 EDTRIGOn The Fly: Pre-market Movers
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09:02 EDTGOOGIntel, Google, TAG Heuer announce Swiss smartwatch collaboration
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07:50 EDTRIGTransocean reiterated as a Sell, target to $11 at Goldman
After the close, Transocean announced that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI for the Transocean Amirante was terminated due to the deteriorating security situation in Libya. The firm said these two announcements are indicative of the very weak contracting environment. Goldman reiterates its Sell rating on Transocean and lowered its price target to $11 from $12.
07:19 EDTBPKuwaiti minister says OPEC can't cut oil production, Bloomberg reports
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06:55 EDTGOOGCertain news agencies form advertising alliance to rival Google, others, BI says
The Guardian, CNN International, The Financial Times , Reuters (TRI) and The Economist are forming an advertising alliance, called Pangaea, in hopes of rivaling Google (GOOG), Facebook (FB), Twitter (TWTR), and LinkedIn (LNKD), reports Business Insider UK. The Financial Times is owned by Pearson (PSO), The Economist Group is 50% owned by Pearson via The Financial Times, and CNN is owned by Time Warner (TWX). Reference Link
06:42 EDTGOOGSafety standards for self-driving cars remain in flux, WSJ says
A 2012 California proposal to create safety standards for self-driving cars has yet to materialize because lawmakers, regulators, researchers, and government agencies do not know how to fully assess the technology, reports the Wall Street Journal. Google and other auto makers want to verify safety themselves, but law firm TroyGould and advocacy group Auto Reliability and Safety say third party testing is necessary, while a UC Berkeley transportation expert called the issue an "open question." The National Highway Traffic Safety Administration plans to test the technology "as it emerges... to inform future federal regulation," while the California DMV stated last week it's working quickly but doesn't want to release a premature ruling. Reference Link
05:42 EDTGOOGeBay downgraded to Underweight from Neutral at Piper Jaffray
Piper Jaffray analyst Gene Munster downgraded eBay (EBAY) to Underweight, the firm's sell-equivalent rating, saying competition from Google Wallet (GOOG), Apple Pay (AAPL), Facebook (FB) and Samsung will weigh on PayPal's valuation and market share over the next three years. Munster notes shares of eBay are up 12% since the beginning of February due to optimism around the PayPal spin-out. He cut his price target for shares to $49 from $55. The online marketplace and PayPal owner closed yesterday down $1.07 to $58.42.
March 18, 2015
16:28 EDTRIGTransocean provides fleet update summary
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16:00 EDTBPOptions Update; March 18, 2015
iPath S&P 500 VIX Short-Term Futures down 1.20 to 26.10. Option volume leaders: AAPL RAD PBR TWTR FB TSLA CLF BP MGM according to Track Data.
10:03 EDTBPBP call activity attributed to renewed takeover speculation
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09:56 EDTBPRumor: BP strength attributed to takeover speculation
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08:04 EDTGOOGAmerican Enterprise Institute to hold a discussion
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07:02 EDTBPExterran nominates five new directors to board
Exterran Holdings (EXH) announced that its Board of Directors has nominated the following individuals for election to the Exterran Holdings Board at the Company’s 2015 Annual Meeting of Stockholders on April 28: Anne-Marie N. Ainsworth – former President and CEO of the general partner of Oiltanking Partners, L.P. (OILT); Frances Powell Hawes – independent financial consultant and former CFO of NCI Building Systems (NCS); James H. Lytal – independent energy consultant and former President of Gulfterra Energy Partners LP; Richard R. Stewart- former President and CEO of GE Aero Energy (GE); and Ieda Gomes Yell – Managing Director of Energix Strategy Ltd. and former President of BP Brazil (BP). “In November 2014, we announced a plan to separate Exterran’s international contract operations, international aftermarket services and global fabrication businesses into an independent, publicly traded company in the second half of 2015,” said Mark Sotir, Executive Chairman of the Board. “Our Board has nominated these additional well qualified director candidates in anticipation of certain of Exterran’s directors resigning from the Board at the time of the separation in order to join the board of directors of the new publicly traded company. We have not yet reached a final determination regarding which directors will remain on Exterran’s Board and which directors will join the board of directors of SpinCo at the time of the separation.”
06:04 EDTGOOGGoogle's initial drone design failed, company working on new drone, WSJ reports
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05:59 EDTGOOGGoogle sees self-driving car on market within five years, Re/code says
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05:55 EDTGOOGApple has small team working on augmented reality, says Piper Jaffray
Piper Jaffray analyst Gene Munster says that following talks with industry contacts, he believes Apple (AAPL) has a small team working and exploring the augmented reality space. Munster believes augmented reality has the potential to "be as profound a technology platform as the smartphone today," but admits broader consumer adoption is likely 10 years away. He views Apple's involvement in the space as an indication the company is preparing for the next evolution of computing. Munster has an Overweight rating on Apple with a $160 price target. He describes augmented reality as the "overlay of digital information on the physical world," with Google (GOOG) Glass given as an example.
05:43 EDTGOOGGoogle introduces new app approval process
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March 17, 2015
16:00 EDTRIGOptions Update; March 17, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 27.30. Option volume leaders: AAPL RIG MGM HTZ TWTR TSLA CY KO NFLX C according to Track Data.
14:13 EDTGOOGMorgan Stanley questions GM capital allocation plan
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09:27 EDTGOOGApple plans to allow trade-ins of Android, BlackBerry devices, Bloomberg says
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09:26 EDTCARAvis Budget management to meet with JPMorgan
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09:11 EDTBPBP study criticized by Gulf oil spill trustees, Financial Times says
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09:07 EDTGOOGDISH's Sling TV launches on Xbox One
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09:05 EDTGOOGMicrosoft Band now available at Best Buy, Target, Amazon, Re/code reports
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08:27 EDTBPBP says environmental assessment shows most spill impact of short duration
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07:42 EDTGOOGBoeing may produce satellite for tech giants, Reuters says
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06:37 EDTGOOGAfter losing marketshare, Google now asks Firefox users to switch, BI says
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05:57 EDTGOOGChina vendors to ship 50M Androids with fingerprint sensors, DigiTimes reports
China vendors is expected to ship 50M Android (GOOG) smartphones with fingerprint sensors in 2015, reports DigiTimes. According to sources at Taiwan-based IC backend service companies, Android smartphone vendors have adopted sliding-type fingerprint sensors, which are more competitive in pricing compared to press-type sensors used by Apple (AAPL). Reference Link
March 16, 2015
14:37 EDTCARAvis Budget backs FY15 EPS view $3.15-$3.75, consensus $3.53
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14:13 EDTGOOGApple to offer Android users rebates to switch to iPhones, 9to5Mac says
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11:11 EDTBPOPEC sees oil prices to hit U.S. oil output by late 2015, Reuters says
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March 15, 2015
17:49 EDTBPBP and Egypt in $12B energy deal, Reuters says
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March 13, 2015
16:01 EDTRIGOptions Update; March 13, 2015
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11:36 EDTGOOGGoogle Apps security breach affects 282,867 domain owners, The Next Web says
Personal information for 282,867 Google Apps domain owners was exposed Friday, reports The Next Web, citing Google statements and a Cisco report. Names, addresses, email information, and phone numbers were made public, though a Google spokesperson stated, "We identified the root cause, made the appropriate fixes, and communicated this with affects Apps customers." Presently there is no evidence of malicious use. Reference Link
09:50 EDTGOOGActive equity options trading on open
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08:21 EDTGOOGGoogle price target raised to $681 from $640 at Cowen
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08:20 EDTGOOGGoogle not making aggressive domain name push, NY Post says
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06:32 EDTBPIEA says oil price pressure likely to resume, Reuters reports
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06:29 EDTBPOil companies reach tentative agreement with union, WSJ says
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06:02 EDTBPBP to sell Australian bitumen business to Puma Energy
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05:54 EDTGOOGIDC: Worldwide tablet long term growth in low single digits, Digitimes says
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March 12, 2015
13:14 EDTBPShell, BP, Total oil trading divisions may yield profit boost, Bloomberg says
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