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Stock Market & Financial Investment News

News For GOOG;DISH;T;VZ;SNE;PC;KBSTY;GE;SSNLF;AAPL;UAL From The Last 14 Days
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April 27, 2015
20:03 EDTAAPLBest Buy's use of Apple Pay raises questions about Wal-Mart's MCX, Re/code says
Best Buy (BBY) announced it will accept Apple (AAPL) Pay in its stores later in the year, reports Re/code, citing company statements. Re/code notes that the move raises questions about Best Buy's previously announced partnership with rival payment consortium MCX, spearheaded by Wal-Mart (WMT). A Best Buy spokesperson said it is "too early to declare" whether the company will use MCX's platform at launch, while multiple sources claimed the delay in implementing Apple Pay is partly due to exclusivity agreements with MCX. Reference Link
18:56 EDTAAPLOn The Fly: After Hours Movers
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17:48 EDTAAPLApple says iPhone revenue was up 70% in Greater China in Q2
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17:36 EDTAAPLApple CFO says Watch margins will be lower than company average
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17:31 EDTAAPLApple anticipates expanding nunmber of countries for Watch in late June
17:28 EDTAAPLApple says Q2 emerging market revenue up 58%
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17:27 EDTAAPLApple says FX had negative impact of 100 basis points in Q2
Sees 40 basis point negative impact from FX in Q3.
17:22 EDTAAPLApple plans for annual dividend increases going forward
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17:20 EDTAAPLApple CFO says app store revenue up 29% in Q2
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17:12 EDTAAPLApple CEO says new MacBook began shipping
Comments from Q2 earnings conference call.
16:43 EDTAAPLApple reports Q2 iPhone units 61.17M vs. 74.47M last quarter
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16:41 EDTAAPLApple reports Q2 gross margin 40.8% vs. 39.3% last year
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16:40 EDTAAPLApple reports Q2 iPhone sales 61.17M
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16:40 EDTAAPLApple rallies $2.11 to $134.50 after earnings beat, buyback raise
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16:38 EDTAAPLApple says higher rate of people switching to iPhone
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16:33 EDTAAPLApple boosts buyback to $140B from $90B, ups dividend 11%
Apple announced that its board has authorized an increase of more than 50% to the company's program to return capital to shareholders. Under the expanded program, Apple plans to utilize a cumulative total of $200B of cash by the end of March 2017. As part of the revised program, the board has increased its share repurchase authorization to $140B from the $90B level announced last year. In addition, the company expects to continue to net-share-settle vesting restricted stock units. The board has also approved an increase of 11% to the company's quarterly dividend, and has declared a dividend of 52c per share, payable on May 14, to shareholders of record as of the close of business on May 11. To assist in funding the program, Apple plans to continue to access the domestic and international debt markets.
16:31 EDTAAPLApple expands capital return program to $200B
16:31 EDTAAPLApple sees Q3 revenue $46B-$48B, consensus $47.06B
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16:30 EDTAAPLApple reports Q2 EPS $2.33, consensus $2.16
Reports Q2 revenue $58.01B, consensus $56.06B.
16:00 EDTAAPLOptions Update; April 27, 2015
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15:09 EDTAAPLEarnings Watch: Apple reports with iPhone sales, capital return in focus
Apple (AAPL) is set to report second quarter earnings after the market close on Monday, April 27, with a conference call scheduled for 5:00 pm ET. Apple, the world's most valuable company by market capitalization, is the manufacturer of the iPhone and iPad, among other desktop and mobile computing devices. EXPECTATIONS: Analysts are looking for earnings per share of $2.16 on revenue of $56.06B, according to First Call. The consensus range for EPS is $1.89-$2.43 on revenue of $51.37B-$59.46B. Along with its last earnings report, Apple said it sees Q2 revenue of $52B-$55B and a gross margin between 38.5%-39.5%. In a note to investors, Piper Jaffray analyst Gene Munster said he believes Apple will report revenue, excluding foreign exchange impacts, in line with Street estimates of $56B, implying 57M iPhones. Munster added that he believes the Street is currently looking for 42.7M iPhones in the company's June report, 45.1M in September, and 73.4M in December. LAST QUARTER: Apple reported first quarter EPS of $3.06, which topped the consensus estimate for $2.60. First quarter revenue of $74.6B also beat the $67.69B consensus expectation. Apple reported it sold 74.5M iPhones, 21.42M iPads and 5.52M Macs in Q1. Apple reported a Q1 gross margin of 39.9%, versus 37.9% in the same quarter of last year. NEWS: On February 11, Carl Icahn stated that he has gained further confidence in his thesis on the company, increasing the forecasted EPS for FY 2015 in his model from $9.60 to $9.70. Ichan noted then that he believed the market "should value Apple at $216 per share." A few days later, Financial Times reported Apple had been recruiting automotive technology and vehicle design experts who are at work in a confidential Silicon Valley location near the company’s Cupertino campus and The Wall Street Journal said the company was working secretly toward creating an Apple-branded electric vehicle. On March 6, S&P Dow Jones Indices announced Apple had been selected to replace AT&T (T) in the Dow Jones Industrial Average after the close of trading on Wednesday, March 18. On March 9, Apple announced that Apple Watch would be available on Friday, April 24 to customers in Australia, Canada, China, France, Germany, Hong Kong, Japan, the U.K. and the U.S. In addition to unveiling the Watch that day, Apple also announced a lower price tag of $69 for Apple TV, debuted the thinner new edition of its MacBook and Time Warner's (TWX) HBO announced HBO NOW was coming to Apple TV, making an HBO subscription available directly to Apple customers for the first time. ANALYST OPINION: On the day after Apple's last earnings report, a number of analysts hiked their price targets for the stock, with Cantor increasing its price target to what was then a "Street high" $160 from $143. In a note to investors on March 23, Cantor analyst Brian White then raised his price target on Apple to $180 from $160. At $180 per share, the company's total valuation would be about $1 trillion, the analyst stated. The streaming TV offering it will reportedly launch could be a stepping stone into making actual TVs, according to White, who noted that the LCD TV market is worth $100B a year. Additionally, given the 4G expansion in China, as well as the larger iPhones and Apple's relationship with China Mobile (CHL), Apple is better positioned than ever in China, according to the analyst. The reviews of the Apple Watch suggest that the product will be far short of "insanely great," Raymond James analyst Tavis McCourt wrote in a note to investors on April 10. The lukewarm reviews could raise doubts in investors' minds about the company's ability to launch successful new products and iPhone unit sales are likely to drop in fiscal 2016 versus fiscal 2015, McCourt contended. Against this backdrop, Apple's stock is likely to remain range-bound, wrote McCourt, who downgraded the stock to Market Perform from Outperform. Last April, Apple increased its share repurchase to $90B from $60B and increased its dividend by 8% to $11B annually, Piper's Munster has pointed out. This year, the firm believes "the bogey" for investors is a 15% increase to Apple's total reported capital return number, share repurchase plus past dividends, which would imply a $150B headline number, up from the $130B announced last year. Piper, however, estimates the most likely range for Apple's new capital return policy will fall between $170B and $180B. It keeps an Overweight rating on the stock with a $160 price target. This morning, Brean Capital analyst Ananda Baruah initiated shares of Apple with a Buy rating and $160 price target ahead of the company's March quarter report. Baruah told investors that consensus estimates for the iPhone maker are "materially low" though 2017. The analyst sees upside through 2017 from iPhone shipments and favorable gross margin due to greater than expected sales of the more profitable 6 Plus. PRICE ACTION: Shares of Apple advanced 5.65% on the first day of trade following its Q1 report. Over the last three months, shares of Apple are up more than 20%. In afternoon trading ahead of its Q2 report, Apple is up 1% to $131.58 per share.
15:04 EDTAAPLNotable companies reporting after market close
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14:59 EDTAAPLApple May 130 weekly straddle priced for 4.9% movement into Q2
12:39 EDTAAPLApple technical notes ahead of results
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12:25 EDTAAPLOn The Fly: Top stock stories at midday
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12:00 EDTAAPLApple May weekly volatility elevated into Q2 and outlook
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11:54 EDTAAPLStocks with call strike movement; BABA AAPL
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11:37 EDTVZESPN files breach of contract suit against Verizon, Re/code reports
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10:07 EDTGOOGGoogle offers to buy patents under new promotion
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10:00 EDTAAPLOn The Fly: Analyst Initiation Summary
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10:00 EDTUALOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 3D Systems (DDD) downgraded to Hold from Buy at Canaccord... Akorn (AKRX) downgraded to Neutral from Overweight at Piper Jaffray... Allegiant Travel (ALGT) downgraded to Fair Value from Buy at CRT Capital... Altera (ALTR) downgraded to Neutral from Outperform at Baird... Amazon.com (AMZN) downgraded on valuation at Argus... American Science & Engineering (ASEI) downgraded to Sell from Fair Value at CRT Capital... Basic Energy (BAS) downgraded to Underperform from Neutral at Macquarie... C.H. Robinson (CHRW) downgraded to Sell from Neutral at UBS... Celladon (CLDN) downgraded to Neutral from Buy at Roth Capital... DST Systems (DST) downgraded to Neutral from Outperform at Credit Suisse... DeVry (DV) downgraded on weaker than expected outlook at Stifel... Eaton Vance (EV) downgraded to Sell from Neutral at Citigroup... Emerge Energy (EMES) downgraded to Hold from Buy at Wunderlich... FMC Technologies (FTI) downgraded to Accumulate from Speculative Buy at Global Hunter... Fibria Celulose (FBR) downgraded to Underweight from Equal Weight at Morgan Stanley... Forum Energy (FET) downgraded to Neutral at Baird... Gulf Island Fabrication (GIFI) downgraded to Hold from Accumulate at Johnson Rice... Hancock Holding (HBHC) downgraded to Hold from Buy at Drexel Hamilton... Hi-Crush Partners (HCLP) downgraded to Hold from Buy at Wunderlich... Houghton Mifflin (HMHC) downgraded to Neutral from Buy at Citigroup (Friday)... Infosys (INFY) downgraded to Hold from Buy at Deutsche Bank... Marvell (MRVL) downgraded to Hold from Buy at Craig-Hallum... Merge Healthcare (MRGE) downgraded to Hold from Buy at Topeka... Oceaneering (OII) downgraded to Neutral from Buy at Goldman... Omega Healthcare (OHI) downgraded at BofA/Merrill... Perrigo (PRGO) downgraded to Neutral from Buy at UBS... Petrobras (PBR) downgraded to Underweight from Equal Weight at Morgan Stanley... Procter & Gamble (PG) downgraded on lack of upside at CLSA... ResMed (RMD) downgraded to Neutral from Buy at Goldman... Seadrill (SDRL) downgraded to Sell from Neutral at Citigroup... Six Flags (SIX) downgraded to Neutral from Buy at Goldman... Stratasys (SSYS) downgraded to Hold at Canaccord... Telecom Italia (TI) downgraded to Neutral from Buy at BofA/Merrill... Twitter (TWTR) downgraded to Neutral from Buy at SunTrust... United Continental (UAL) downgraded to Fair Value from Buy at CRT Capital... Virgin America (VA) downgraded to Sell from Buy at CRT Capital.
09:36 EDTAAPLActive equity options trading on open
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09:22 EDTAAPLOn The Fly: Pre-market Movers
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09:02 EDTAAPLZAGG introduces InvisibleShield HD for Apple Watch
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08:39 EDTUALUnited Continental downgraded to Fair Value from Buy at CRT Capital
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08:37 EDTAAPLDiscover announces Apple Pay agreement with Apple
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08:14 EDTT, VZ, DISHBofA/Merrill media & telecom analysts hold analyst/industry conference call
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08:06 EDTAAPLApple Q2 revenue likely to surpass guidance, says RBC Capital
RBC Capital says that Apple's Q2 revenue should come in above the high end of its $52B-$55B guidance. The firm thinks the company's gross margins could beat expectations, and it keeps an Outperform rating on the shares.
07:13 EDTGOOG, T, VZUBM Tech to hold a conference
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07:00 EDTAAPLFutures higher as investors prepare for more earnings reports
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06:31 EDTAAPLApple may be intentionally slowing release of Tidal app updates, NY Post says
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06:01 EDTGOOGGoogle's Dan Fredinburg dies in avalanche on Mount Everest, TechCrunch reports
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05:58 EDTGOOGeBay backs Google's response to EU antitrust inquiry, Financial Times says
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05:58 EDTSSNLFAMD to launch Godavari APUs at end of May, DigiTimes reports
AMD (AMD) plans to launch Godavari series APUs at the end of may to compete with Intel's (INTC) Broadwell and Skylake platforms, reports DigiTimes. According to Taiwan-based supply chain makers, AMD will launch 14nm Summit Ridge APUs to be produced by Samsung (SSNLF) and Globalfoundries in 2016 and the Raven Ridge-series in 2017. Reference Link
05:58 EDTSSNLFSamsung holds leading position in 4K TV panel shipments in Q1, DigiTimes says
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05:31 EDTAAPLApple initiated with a Buy, $160 target at Brean Capital
Brean Capital analyst Ananda Baruah initiated shares of Apple with a Buy rating and $160 price target ahead of the company's March quarter results tonight. Baruah tells investors that consensus estimates for the iPhone maker are "materially low" though 2017. The analyst sees upside through 2017 from iPhone shipments and favorable gross margin due to greater than expected sales of the more profitable 6 Plus. Shares of Apple closed Friday up 61c to $130.28.
April 26, 2015
17:05 EDTSNEUniversal's 'Furious 7' leads U.S. weekend box office with $18.3M
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12:50 EDTAAPLApple, Celgene, others are 'top picks' for spring, Barron's says
In a survey of U.S. money managers, shares of Apple (AAPL), Dow Chemical (DOW), American Airlines (AAL), Celgene (CELG), General Motors (GM), and McDermott (MDR) were identified as top picks for this spring, Barron's contends in its cover story. Reference Link
April 24, 2015
18:50 EDTUALUnited Continental files automatic mixed securities shelf
18:27 EDTAAPLTD Bank Group announces Apple Watch app
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16:31 EDTGOOGStocks finish week higher following strong tech earnings
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16:19 EDTGOOGOn The Fly: Top stock stories for Friday
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16:00 EDTGOOG, AAPLOptions Update; April 24, 2015
iPath S&P 500 VIX Short-Term Futures down 21c to 20.89. Option volume leaders: AAPL AMZN PBR RIG GOOG TWTR TSLA MSFT ALTR according to Track Data.
14:50 EDTAAPLOn The Fly: Weekly technical notes ahead of Apple earnings
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13:45 EDTAAPLGrubHub launches Seamless App for Apple Watch
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12:53 EDTGOOGLuxottica says company working on new versions of Google Glass, Engadget says
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12:51 EDTTAT&T says all twelve board nominees reelected for one-year terms
12:49 EDTGOOGOn The Fly: Top stock stories at midday
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12:33 EDTAAPLOptions with increasing implied volatility
Options with increasing implied volatility: MEMP GPRO TWTR AAPL
11:03 EDTDISHDISH says Comcast, TWC merger termination 'best possible outcome'
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10:47 EDTUALFollow-up: United Continental upgraded at Evercore ISI
As previously reported, Evercore ISI upgraded United Continental to Buy from Hold with an $80 price target. The firm upgraded shares based on compelling valuation, improving free cash generation, reset expectations, and shareholder friendly actions.
10:00 EDTT, UALOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AT&T (T) upgraded to Outperform from Neutral at Macquarie... Alaska Air (ALK) upgraded to Buy from Neutral at Buckingham... Amazon.com (AMZN) upgraded at Raymond James... American Electric (AEP) upgraded to Buy from Hold at Deutsche Bank... Broadridge (BR) upgraded to Buy from Hold at Evercore ISI... Cablevision (CVC) upgraded to Hold from Sell at Brean Capital... Cisco (CSCO) upgraded to Conviction Buy from Buy at Goldman... Core Laboratories (CLB) upgraded to Outperform from Sector Perform at Iberia... Crown Castle (CCI) upgraded to Outperform from Market Perform at Raymond James... Encore Wire (WIRE) upgraded to Buy from Neutral at Sidoti... Gigamon (GIMO) upgraded to Buy from Neutral at DA Davidson... Juniper (JNPR) upgraded on improved outlook at RBC Capital... KPN (KKPNY) upgraded to Buy from Neutral at Goldman... Knight Transportation (KNX) upgraded to Outperform from Market Perform at Avondale... Mattel (MAT) upgraded to Buy from Neutral at Goldman... Microsoft (MSFT) upgraded to Buy from Neutral at Nomura... Premiere Global (PGI) upgraded to Outperform from Market Perform at Raymond James... Quintiles (Q) upgraded to Buy from Hold at Jefferies... Southwestern Energy (SWN) upgraded to Market Perform at Raymond James... TE Connectivity (TEL) upgraded on positive catalysts at SunTrust... Target (TGT) upgraded to Buy from Neutral at BofA/Merrill... TriState Capital (TSC) upgraded to Overweight from Equal Weight at Stephens... United Continental (UAL) upgraded to Buy from Hold at Evercore ISI... Vipshop (VIPS) upgraded to Buy from Hold at HSBC... Vocera (VCRA) upgraded to Buy from Hold at Craig-Hallum.
09:37 EDTAAPL, GOOGActive equity options trading on open
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09:20 EDTGOOGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: eHealth (EHTH), up 24.7%... Starbucks (SBUX), up 4.2%... Microsoft (MSFT), up 5.2%... Google (GOOG, GOOGL), up 3.2% and up 3.7%, respectively... Amazon (AMZN), up 12% after reporting quarterly results and announcing shopping app for Apple Watch... Gigamon (GIMO), up 16.5%... Juniper Networks (JNPR), up 6.6%. ALSO HIGHER: Molycorp (MCP), up 10.2% following a Bloomberg report that China's export tax decision may boost rare earth demand... Mattel (MAT), up 4.4% after being upgraded to Buy from Neutral at Goldman... Innocoll (INNL), up 13.1% after 3.3M share Secondary priced at $9.00... Cytosorbents (CTSO), up 9.7% after CEO comments on CytoSorb in letter to shareholders. DOWN AFTER EARNINGS: Biogen (BIIB), down 4.7%... Altera (ALTR), down 1.7%... Pandora (P), down 4%... ResMed (RMD), down 8.7%... Xerox (XRX), down 4.7%... HomeAway (AWAY), down 3.6% after reporting quarterly results and departure of officers. ALSO LOWER: Ubiquiti (UBNT), down 14.4% following CFO resignation and preliminary third quarter results... 3D Systems (DDD), down 10.4% after reporting preliminary first quarter results... StemCells (STEM), down 23.2% after filing to sell common stock... Aerie Pharmaceuticals (AERI), down 54.7% after Rhopressa Phase 3 trial did not meet primary endpoint.
09:08 EDTDISHDISH May volatility elevated into Q1 and outlook
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08:58 EDTGOOGGoogle price target raised to $672 from $632 at FBR Capital
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08:56 EDTTAT&T comments on merger bode well for Dycom, says FBR Capital
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07:56 EDTAAPLApple Q2 results likely to beat expectations, says Bernstein
Bernstein expects Apple to report stronger than expected Q2 results, and says that the company could raise its dividend by 20%+ and buy back an additional $80B+ of its shares through 2017. The firm thinks Apple Watch could increase its gross margins by one percentage point. It raised its price target on the name to $142 from $135 and keeps an Outperform rating on the shares.
07:49 EDTGOOGGoogle results 'on balance positive,' says Bernstein
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07:35 EDTGOOGGoogle price target raised to $670 from $625 at Deutsche Bank
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07:31 EDTAAPLDeutsche sees Apple sales growth slowing from here
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07:21 EDTAAPLApple Watch teardown casts doubt on rumored upgradability, iFixit reports
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07:15 EDTAAPLApple job postings point to improvements in Siri, speech technology, AI reports
Apple is said to be working on improvements to its Siri speech recognition technology, Apple Insider reports. The company on Thursday opened posted several job listing relating to Siri, speech technology and language recognition, and is seeking a platform development manager and developer tools engineer for Siri, the publication says. Additionally, the company is seeking two pattern recognition engineers and software engineers in its Natural Languages Group. Reference Link
07:05 EDTGOOGGoogle reported healthy Q1 results, says Cantor
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06:55 EDTAAPLApple May weekly volatility elevated into Q2 and outlook
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06:50 EDTVZDisney, Fox refuse to run FiOS commercials, NY Times says
Disney (DIS) and 21st Century Fox (FOXA) are refusing to run commercials for Verizon (VZ) FiOS' slimmed down, a la carte package on a number of their stations, according to The New York Times. Disney, Fox and Comcast (CMCSA) have objected to FiOS' new offering, the news service stated. Reference Link
06:22 EDTGOOGGoogle price target raised to $650 from $600 JPMorgan
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06:21 EDTTAT&T upgraded to Outperform from Neutral at Macquarie
Macquarie upgraded AT&T (T) to Outperform and increased its price target to $37 from $33 following the Q1 report. The firm does not foresee any regulatory issues with the DirecTV (DTV) merger and recommends investors buy AT&T for increasing 2016 and beyond estimates, improving dividend coverage, free-cash-flow growth, and a potential $20B in assets that can be sold to deleverage, among other reasons.
06:16 EDTGOOGEU considers new regulator to oversee internet companies, WSJ reports
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06:13 EDTUALUnited Continental upgraded to Buy from Hold at Evercore ISI
06:00 EDTGOOGHillspire acquires minority stake in D.E. Shaw group from Lehman Brothers
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05:57 EDTGEStocks with implied volatility below IV index mean; GE NFLX
Stocks with implied volatility below IV index mean; General Electric (GE) 16, Netflix (NFLX) 27 according to iVolatility.
05:27 EDTAAPLExpedia app now available on Apple watch
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05:24 EDTAAPLAmazon announces shopping app for Apple Watch
The Amazon (AMZN) shopping app will be available on Apple Watch (APPL) in Canada, China, France, Germany, Japan, U.S. and U.K. Designed for the on-the-go customer, the shopping app offers a tailored Amazon experience, offering voice search and quick tap features including 1-Click purchase and save to Wish List.
April 23, 2015
19:29 EDTGOOGGoogle sees increased viewership, ad views at YouTube
On its Q1 earnings call, Google CFO Patrick Pichette said, "Over the past year we've seen YouTube viewership climb dramatically, both in established markets but also due to rapid expansion in emerging markets. And quality improvements in TrueView ads mean that more users are, in fact, choosing not to skip them, increasing the overall ad view. So, this means that there is much higher volume of TrueView ads being seen, which has been a significant driver of year-over-year growth in numbers that you seeing inside clicks... Viewership in YouTube videos and TrueView ads are growing significantly, and YouTube's contribution to our advertising revenue continues to grow at a strong rate year-over-year." During the Q&A portion of the call, Pichette added, "In the last quarter, we've just seen a real acceleration at YouTube and that's why we thought it was important because we saw this change, from the fundamental kind of strong performance of YouTube." In after-hours trading, Google is up more than 3% to $564.00.
19:16 EDTGOOGOn The Fly: After Hours Movers
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16:09 EDTGOOGGoogle shares up $3.52 to $551.42 after Q1 results
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16:06 EDTGOOGGoogle says Q1 revenue $795M higher at constant exchange rates
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16:05 EDTGOOGGoogle reports Q1 websites up 14% revenue $11.93B
Reports Q1 Google Network Members' websites revenue up 1% to $3.58B. Total advertising revenues were up 11% to $15.51B.
16:03 EDTGOOGGoogle reports Q1 Aggregate paid clicks up 13%
Reports Q1 Paid clicks on Google websites up 25% vs. last year, Paid clicks on Google Network Members' websites down 12%, Aggregate cost-per-click down 7%, Cost-per-click on Google websites down 13% and Cost-per-click on Google Network Members' websites up 2%.
16:01 EDTGOOGGoogle reports Q1 EPS $6.57, consensus $6.60
Reports Q1 revenue $17.26B, consensus $17.5B.
16:01 EDTAAPLOptions Update; April 23, 2015
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15:00 EDTGOOGNotable companies reporting after market close
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14:59 EDTGOOGGoogle April weekly 547 straddle priced for 4% movement into Q1
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14:20 EDTGOOGEarnings Watch: Google up close to 8.5% since last earnings report
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12:35 EDTAAPLStocks with call strike movement; CSX AAPL
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11:52 EDTAAPLApple lists several job openings for speech & language teams, Apple Insider says
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11:27 EDTAAPLApple could announce new iPod touch this year, Apple Insider reports
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11:19 EDTTAT&T eyes benchmark bond offering to back DirecTV merger, Forbes reports
AT&T (T) is shopping a benchmark offering of SEC-registered senior notes across as many as six tranches to back its planned merger with DirecTV (DTV), reports Forbes. The company is eyeing the placement of June-dated five-year notes in fixed- and/or floating-rate formats. Reference Link
11:05 EDTUALBoeing says has received 10 new orders since last update
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11:01 EDTUALUnited Continental cuts FY15 capacity to 1%-2% from 1.5%-2.5%
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09:43 EDTAAPLApple not targeting May 8 for Apple Watch second wave launch, 9to5Mac says
Sources told 9to5Mac that Apple is not currently targeting May 8 for its launch of pre-ordering for the Apple Watch in a second wave on countries, refuting a report yesterday from Italy's iSpazio that said that was the date being considered for the next wave of launches. Reference Link
09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL FB PBR TWTR AA COST TSLA AMZN TXN BAC
09:09 EDTGOOGCheetah Mobile obtains worlwide Google Play distribution rights for Tap Titans
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09:04 EDTDISHDISH announces launch of WeatherNation
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07:34 EDTUALUnited Continental backs annual CapEx guidance of $2.7B-$2.9B over 3-4 years
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07:34 EDTUALUnited Continental announces refinement to fleet plan
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07:33 EDTUALUnited Continental reports Q1 passenger revenue up 0.5% to $7.4B
Consolidated revenue passenger miles increased 0.1 percent and consolidated available seat miles increased 0.1 percent year-over-year for the first quarter, resulting in a first-quarter consolidated load factor of 81.1 percent.
07:32 EDTUALUnited Continental reports Q1 PRASM up 0.4%
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07:31 EDTUALUnited Continental reports Q1 EPS $1.52, consensus $1.44
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07:11 EDTGOOGGoogle April weekly volatility elevated into Q1 and outlook
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06:19 EDTAAPLSome Apple Watch orders prepared for shipment ahead of schedule, 9to5Mac says
Though many Apple Watch customers were hit with months-long shipping delays, Apple has started preparing some orders for shipment ahead of schedule, 9to5Mac reports. A spokesperson says "We’re happy to be updating many customers today with the news that their Apple Watch will arrive sooner than expected. Our team is working to fill orders as quickly as possible based on the available supply and the order in which they were received." Reference Link
05:31 EDTTADTRAN downgraded to Neutral from Buy at Goldman
Goldman Sachs downgraded ADTRAN (ADTN) to Neutral after the company said on its Q1 earnings call that its deployment with AT&T (T) has been fully cancelled. Goldman expected the AT&T business to drive revenue and earnings reacceleration. It cut its price target for ADTRAN shares to $18 from $26.
April 22, 2015
19:14 EDTTOn The Fly: After Hours Movers
UP AFTER EARNINGS: Select Comfort (SCSS), up 3.3%... Alliance Fiber Optic (AFOP), up 6.9%... eBay (EBAY), up 6.2%... Cheesecake Factory (CAKE), up 5.6%... O'Reilly Automotive (ORLY), up 3.8%... Corelogic (CLGX), up 3.2%... Skechers (SKX), up 2.5%... AT&T (T), up 1.3%. ALSO HIGHER: ARRIS Group (ARRS), up 24.9% after acquiring Pace plc. for $2.1B in cash and stock... Esperion Therapeutics (ESPR), up 2.5% after being initiated with an Outperform at RBC Capital... Uniqure (QURE), up 3.7% after being initiated with an Outperform at BMO Capital. DOWN AFTER EARNINGS: Texas Instruments (TXN), down 6.7%... Las Vegas Sands (LVS), down 4.2%... Oceaneering International (OII), down 3.7%... F5 Networks (FFIV), down 2.8%... Xilinx (XLNX), down 3.3%... Qualcomm (QCOM), down 3%... Facebook (FB), down 2.2%... Tractor Supply (TSCO), down 3.1%. ALSO LOWER: Noble Corp (NE), down 1.2% after being downgraded to Underweight from Equal Weight at Morgan Stanley.
17:23 EDTAAPLNokia approaches Apple, Amazon, Facebook in sale of maps unit, Bloomberg says
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16:10 EDTTAT&T sees DirecTV deal closing in Q2
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16:08 EDTTAT&T Q1 wireless revenues up 1.8% to $18.2B
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16:03 EDTTAT&T says FY15 standalone guidance 'on track'
16:02 EDTTAT&T reports Q1 adjusted EPS 63c, consensus 62c
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16:00 EDTAAPLOptions Update; April 22, 2015
iPath S&P 500 VIX Short-Term Futures down 22c to 21.30. Option volume leaders: AAPL TSLA TWTR MCD FB PBR AMZN KMI MYL C according to Track Data.
15:50 EDTUALNotable companies reporting before tomorrow's open
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15:30 EDTTNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include eBay (EBAY), consensus 70c... Facebook (FB), consensus 40c... Texas Instruments (TXN), consensus 62c... Las Vegas Sands (LVS), consensus 72c... Qualcomm (QCOM), consensus $1.33... AT&T (T), consensus 62c... F5 Networks (FFIV), consensus $1.50... Plexus (PLXS), consensus 69c... Skechers (SKX), consensus $1.01... Select Comfort (SCSS), consensus 41c... Tractor Supply (TSCO), consensus 41c... Covanta (CVA), consensus (8c)... Crown Castle (CCI), consensus $1.09... Torchmark (TMK), consensus $1.05... Ameriprise (AMP), consensus $2.33... Polycom (PLCM), consensus 21c... Citrix (CTXS), consensus 65c... Core Laboratories (CLB), consensus 85c... Graco (GGG), consensus 78c... Cheesecake Factory (CAKE), consensus 48c... Equifax (EFX), consensus $1.02... SLM (SLM), consensus 7c... Xilinx (XLNX), consensus 50c... O'Reilly Automotive (ORLY), consensus $1.94... Susquehanna (SUSQ), consensus 18c... Raymond James (RJF), consensus 83c... SL Green Realty (SLG), consensus $1.49... CoreLogic (CLGX), consensus 31c... Oceaneering (OII), consensus 62c... Valmont (VMI), consensus $1.49... Brandywine Realty (BDN), consensus 32c... Weatherford (WFT), consensus 1c.
15:12 EDTAAPLAOL debuts three apps for Apple Watch
AOL (AOL) announced the debut of three apps built for the Apple Watch, including Pip, the newly redesigned The Huffington Post app, and the AOL app. Each of them will be available on April 24, the company stated.
13:39 EDTGEAnalyst warns competition growing in 3D printing space
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13:38 EDTGOOGGoogle to offer basic wireless service for $20 per month
Google says, "We offer one simple plan at one price with 24/7 support. Here's how it works: for $20 a month you get all the basics, and then it's a flat $10 per GB for cellular data while in the U.S. and abroad. 1GB is $10/month, 2GB is $20/month, 3GB is $30/month, and so on. Since it's hard to predict your data usage, you'll get credit for the full value of your unused data. Let's say you go with 3GB for $30 and only use 1.4GB one month. You'll get $16 back, so you only pay for what you use."
13:37 EDTGOOGGoogle introduces Project Fi, to partner with Sprint, T-Mobile
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10:58 EDTGEGeneral Electric says dividend a 'priority'
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10:31 EDTAAPLUBS U.S. IT Hardware analyst holds an analyst/industry conference call
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09:54 EDTAAPLApple Watch pre-orders may start May 8 in next wave of countries, MacRumors says
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09:17 EDTGOOGAmazon.com upgraded to Buy, price target raised to $450 at Monness Crespi
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09:02 EDTGEAdvanced Power selects GE for 7F.05 gas turbines
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08:37 EDTSNESony raises FY revenue view to Y8.21T from Y8T
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08:10 EDTGOOGWix.com to benefit from Google algorithm change, says FBR Capital
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07:20 EDTAAPLApple survey continues to show strong iPhone demand, says UBS
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07:08 EDTAAPLPriceline Apple launches Apple Watch travel applications
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06:25 EDTTFCC staff to meet with commissioners today on Comcast deal, Reuters reports
FCC staff is slated to brief the agency's commissioners later today on their review of Comcast's (CMCSA) proposed merger with Time Warner Cable (TWC), according to Reuters, which cited two unnamed sources. The staff is also slated to discuss its view of a $48B pending deal between AT&T (T) and DirecTV (DTV), the news agency quoted one of the sources as saying. Reference Link
06:21 EDTGEGeneral Electric to look to sell Czech banking unit, Reuters says
General Electric will divest its Czech banking subsidiary, believed to be worth more than $787M, within two years, a newspaper quoted the bank's CEO as saying, according to Reuters. Reference Link
06:16 EDTAAPLApple retail chief discusses Apple Watch, MacBook in video, BI reports
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06:06 EDTGOOGGoogle, Facebook seek to reach billions of people without Web access, WSJ says
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06:01 EDTGOOG, T, VZGoogle could launch wireless service today, WSJ reports
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05:59 EDTGEStocks with implied volatility below IV index mean; ALU GE
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05:54 EDTSNEFireEye president: Sony hack 'not an insider,' Re/code reports
FireEye (FEYE) president Kevin Mandia said Code/Enterprise in San Francisco that last year's Sony (SNE) hack was "definitely not an insider," Re/code reports. Mandia believes the Sony hack was "clearly" the work of a government. Reference Link
April 21, 2015
18:53 EDTVZFox, NBC say Verizon cable packages violate license terms, Washington Post says
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18:35 EDTAAPLChinese court rules in favor of Apple in Siri patent case, Economic Times says
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16:26 EDTVZOn The Fly: Top stock stories for Tuesday
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16:00 EDTVZ, AAPLOptions Update; April 21, 2015
iPath S&P 500 VIX Short-Term Futures down 1c to 21.53 Option volume leaders: AAPL TSLA TWTR GILD FB PBR AMZN C KMI KO VZ MCD according to Track Data.
15:34 EDTDISHDish and The Weather Channel sign contract renewal
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15:23 EDTUALUnited Continental April weekly volatility elevated into Q1 and outlook
United Continental April weekly call option implied volatility is at 64, May is at 45, June is at 41, September is at 40; compared to its 26-week average of 43 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 22.
13:40 EDTAAPL, TEarnings Watch: AT&T sees Q1 charge of approximately $130M
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12:42 EDTGOOGGoogle April weekly volatility increases into Q1 and outlook
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12:33 EDTVZOn The Fly: Top stock stories at midday
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11:00 EDTAAPLStocks with call strike movement; AMZN AAPL
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10:34 EDTSSNLF, AAPLCorning sapphire glass rumored to be in new Apple iPhone, PatentlyApple says
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10:20 EDTVZWells thinks carrier equipment vendors factored in weak capex
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09:37 EDTVZ, AAPLActive equity options trading on open
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09:32 EDTGEGE Energy Financial Services invests in GPI's solar project in Futtsu City
GE Energy Financial Services has formed a new partnership with Tokyo-based renewable energy project developer, Green Power Investment Corp., to invest in a 42-megawatt photovoltaic solar power project in Futtsu City, Japan. GE Energy Financial Services will invest alongside GPI in the project. In addition to the investment from GPI and GE Energy Financial Services, financing from a syndicate of four banks, led by The Bank of Tokyo Mitsubishi UFJ, Ltd. will be utilized for the project. Additional financial details are not disclosed.
09:02 EDTGEBlackstone, Wells Fargo in talks on more GE financial assets, Bloomberg says
General Electric (GE), which has announced plans to divest the majority of its GE Capital businesses, is in talks about the potential sale of its $74B U.S. commercial-lending unit, reported Bloomberg, echoing a similar report from The Wall Street Journal. Potential buyers include Blackstone (BX), Mitsubishi UFJ (MTU) Wells Fargo (WFC) and Apollo Global (APO), according to people with knowledge of the matter. Reference Link
08:57 EDTVZVerizon says deleveraging plans on track
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08:41 EDTVZOptions expected to be active
Options expected to be active: UA TEVA PRGO MYL UTX QCOM VMW HOG CMG IBM VZ
08:20 EDTAAPLOrbitz app now customized for Apple Watch
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07:57 EDTTAT&T April weekly volatility elevated into Q1 and outlook
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07:43 EDTVZVerizon CEO says confident in ability to maintain momentum
“Verizon is off to a strong start in 2015 with another quarter of profitable growth. We expanded our base of customers seeking a premium experience, and we grew revenues, earnings and cash flow during a quarter in which we also took significant steps to sharpen our strategic focus. We are confident in our ability to maintain momentum and continue to add value for customers and shareholders,” said Verizon Chairman and CEO Lowell McAdam.
07:42 EDTVZVerizon added 133K net new FiOS Internet, 90K net new FiOS Video connections
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07:40 EDTVZVerizon reports 565,000 retail postpaid net additions in Q1
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07:37 EDTVZVerizon backs FY15 capex view $17.5B-$18B
Verizon continues to expect FY15 capital expenditures to range between $17.5 billion and $18.0 billion.
07:37 EDTVZVerizon reports Q1 consolidated operating income margin 24.9%
Verizon reports Q1 consolidated operating income margin was 24.9%, compared with 23.2% in first-quarter 2014. Cash flow from operating activities increased to $10.2B in Q1, compared with $7.1B in first-quarter 2014. The $10.2B included a non-recurring $2.4B related to the monetization of tower assets. Excluding the tower-transaction impact, free cash flow totaled about $4.2B in Q1, compared with $3.0B in first-quarter 2014.
07:37 EDTSNEMad Catz Interactive extends agreement with Harmonix for Rock Band 4
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07:36 EDTT, VZU.S. mobile cariers could be pressured from new data plans, WSJ says
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07:35 EDTVZVerizon reports Q1 EPS $1.02, consensus 95c
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06:18 EDTAAPLCitigroup unenthused with IBM mix, still prefers Apple
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06:04 EDTGEStocks with implied volatility below IV index mean; ALU GE
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05:59 EDTSSNLFReport: Samsung considers moving LCM business from S Korea, DigiTimes says
Samsung Display is considering moving its LCD module business to China or Vietnam from South Korea, reports DigiTimes. According to a Korean-language AJU Business Daily report, the move comes after related labor expenses in South Korea is rising dramatically. Since the assembly of LCD modules still require heavy manual labor, Samsung Display is looking to move production lines out of South Korea to save costs. Reference Link
05:58 EDTAAPLReport: AU Optronics to supply Apple with iPhone panels, DigiTimes says
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05:58 EDTGOOGEU's Vestager says has 'no grudge' against Google, Re/code reports
EU Competition Commissioner Margrethe Vestager, who is leading an antitrust lawsuit against Google, says she is not holding a grudge against the search giant, Re/code reports, citing comments made during a speech at the NYU School of Law. She commented that "We have made a statement of objection lining out our preliminary view on a certain conduct... This, as we see it, is a pretty straightforward case of consumer domination." Reference Link
April 20, 2015
16:01 EDTAAPL, VZOptions Update; April 20, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 21.52. Option volume leaders: AAPL VZ PBR TWTR TSLA TWTR NFLX MCP FB AMZN AA C according to Track Data.
15:37 EDTVZNotable companies reporting before tomorrow's open
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15:37 EDTGEGE Ventures invests in talent acquisition platform Ascendify
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14:48 EDTSSNLFQualcomm to have Samsung foundry make next high-end chip, Re/code says
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14:22 EDTVZVerizon technical commentary before earnings
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13:41 EDTVZEarnings Watch: Verizon shares up marginally since Q4 results
Verizon Communications (VZ) is expected to report first quarter earnings before the market open on Tuesday, April 21, with a conference call scheduled for 8:30 am ET. Verizon is a holding company providing communications, information and entertainment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $32.27B, according to First Call. The consensus range for EPS is 89c-$1.00 on revenue of $31.74B-$32.97B. LAST QUARTER: Verizon reported fourth quarter adjusted EPS of 71c against estimates for 72c on revenue of $33.19B against estimates for $32.69B. For Q4 in Wireless, the company reported 2.1M net retail connections; 2.0M net retail postpaid connections, including net additions of 672,000 postpaid phones; retail postpaid churn of 1.14%; 108.2M total retail connections and 102.1M total retail postpaid connections. In Wireline, it reported 4.1% year-over-year quarterly increase in consumer revenues. Verizon reported Q4 retail postpaid ARPA, or average revenue per account, increased 1.0% over Q4 of 2013 to $158.82 per month, and 3.9% over the full year. Verizon reported Q4 FiOS consumer revenue growth of 11.1%; 6.6M FiOS Internet subscribers, with 145K net additions; 5.6M FiOS Video subscribers, with 116K net additions. For 2015, Verizon expects consolidated revenue growth of at least 4%. It sees sustained profitability with a consolidated adjusted EBITDA margin at a level consistent with full-year 2014 performance. It also expects strong free cash flow generation with consolidated capital spending of $17.5B-$18.0B. On February 5, Frontier Communications (FTR) announced a definitive agreement with Verizon under which Frontier will acquire Verizon’s wireline operations that provide services to residential, commercial and wholesale customers in California, Florida and Texas, for $10.54B in cash. On the same day, Verizon announced a $5B accelerated share-repurchase program and agreed to lease the rights to over 11,300 of its company-owned wireless towers to American Tower (AMT), which will also purchase approximately 165 Verizon towers, for a total upfront payment of approximately $5B. American Tower will have exclusive rights to lease and operate over 11,300 Verizon cell towers, a significant majority of the towers the company currently owns. In addition, Verizon will sell approximately 165 towers outright. On March 10 at the Deutsche Bank Media, Internet & Telecom Conference, CFO Fran Shammo said there was “not much change” in the competitive environment since Q4-end, Q1 volume should return to "more normal levels," and Q1 churn is likely to be elevated from year ago, but not "something that is going to be concerning." PRICE ACTION: Verizon’s shares are up marginally since the company's Q4 report. Over the past twelve months, they are up about 3.3%. In afternoon trading ahead of Tuesday's Q1 report, Verizon’s shares are up 0.5%.
12:34 EDTGEGE in discussions to sell $74B U.S. commercial lending unit, WSJ says
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12:03 EDTGEGE in discussions to sell $74B commercial lending business, Dow Jones says
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09:36 EDTAAPLActive equity options trading on open
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08:42 EDTAAPLApple May weekly volatility elevated into Q2 and outlook
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08:21 EDTGOOGTesla almost sold to Google while near bankruptcy in 2013, Bloomberg says
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08:18 EDTAAPLApple Q2 EPS estimate raised above consensus at Pacific Crest
Pacific Crest raised its Q2 EPS estimate for Apple to $2.17 from $2.15, putting it above the consensus estimate of $2.14. The firm raised its Q2 estimate based on an increase in its iPhone unit outlook, and raised its fiscal 2015 and fiscal 2016 EPS estimates for the company based on higher iPhone and Apple Watch estimates. Nonetheless the firm expects the company to face growth challenges in fiscal 2016, and it keeps a Sector Weight rating on the shares.
08:12 EDTGOOGGoogle April weekly volatility elevated into Q1 and outlook
Google April weekly call option implied volatility is at 38, May is at 26, June is at 24; compared to its 26-week average of 24 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 23.
08:04 EDTGOOGTesla CEO held talks to sell company to Google in 2013, Bloomberg reports
Bloomberg cites a new book due out May 19, entitled "Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future."
07:30 EDTAAPLApple Q2 results likely to beat expectations, says Wells Fargo
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07:24 EDTGOOGGoogle concerns bring buying opportunity, says Deutsche Bank
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07:16 EDTVZVerizon April weekly volatility elevated into Q1 and outlook
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06:41 EDTGOOGGoogle EU regulatory worries don't warrant a sell off, WSJ says
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06:18 EDTAAPLAnalyst sees Apple Watch as company's 'most profitable product ever,' BI reports
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06:08 EDTGEStocks with implied volatility below IV index mean; ALU GE
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06:03 EDTVZESPN raises objections to Verizon FiOS TV packages, WSJ reports
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05:44 EDTAAPLApple cuts orders to upstream partners to reduce risks, DigiTimes reports
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05:22 EDTAAPLBooking.com launches first booking travel app for Apple Watch
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April 19, 2015
15:24 EDTSNEComcast's 'Furious 7' leads U.S. weekend box office with $29.1M
For the weekend of April 19, Universal's (CMCSA, CMCSK) "Furious 7" topped domestic box office charts at $29.1M. Sony's (SNE) "Paul Blart: Mall Cop 2" landed in second place with $24M for the weekend while Universal's "Unfriended" came in third with $16M. Fox's (FOX, FOXA) "Home" and "The Longest Ride" took fourth and fifth place at $10.3M and $6.8M, respectively. Data gathered by Rentrak.
14:17 EDTSNE, AAPLSony stock may rise 20% over next year, Barron's says
Shares of Sony (SNE) are likely to jump 20% during the next year, Barron's contends in its "Follow Up" column. Barron's notes that the company is rumored to supply camera chips for Apple's (AAPL) iPhone 7, and Sony could also look to exit its TV and mobile phone businesses. Reference Link
April 17, 2015
16:31 EDTGOOGStocks end week lower amid earnings reports, fear about Greece, China
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16:24 EDTGEOn The Fly: Top stock stories for Friday
Stocks on Wall Street began the session deep in negative territory and remained there throughout the day. The losses were broad based, with the S&P 500 losing 1% and the Dow and Nasdaq each sliding about 1.5%. There was little in the way of buying, as the number of declining stocks dwarfed the number of advancing stocks. Fears about Greece exiting the euro, steps taken by securities regulators in China and inflation data here at home were all pointed to as potential contributors to the down day in the market. The slide also coincided with the expiration of options, which can lead to volatility and heavy volume. ECONOMIC EVENTS: In the U.S., the headline Consumer Price Index rose 0.2% in March, versus expectations for it to be up 0.3%. The "core" rate, excluding food and energy prices, rose 0.2%, as expected. The leading economic index rose 0.2% to 121.4 in March, versus expectations for it to be up 0.3%. The University of Michigan consumer sentiment index jumped 2.9 points to 95.9 in the preliminary print for April, topping expectations for a 94.0 reading. In China, announcements by Chinese securities regulators, the Shanghai and Shenzhen stock exchanges, and related bodies raised fears of a selloff in China. The China Securities Regulatory Commission imposed sanctions to try to control margin buying of stocks with borrowed money and the Securities Association of China said it will allow fund managers to lend stocks for short selling to increase the supply of shares. In Europe, strategists reportedly said a lack of progress in negotiations between Greece and its creditors had substantially increased the risk of Greece defaulting on its debt and even exiting the euro. COMPANY NEWS: Shares of both Comcast (CMCSA) and Time Warner Cable (TWC) dropped after Bloomberg, citing sources, reported that lawyers at the Justice Department’s antitrust division are leaning toward making a recommendation to file suit to block the companies' proposed merger. Spokespeople for Comcast and TWC reportedly told Bloomberg they see "no basis" for a lawsuit to block the transaction. Comcast ended the day down $1.25, or 2.09%, to $58.42, while Time Warner Cable shares slid $8.59, or 5.43%, to $149.61... First the Wall Street Journal, then Bloomberg, reported that Teva Pharmaceutical (TEVA) is internally discussing a potential takeover bid for Mylan (MYL). Shares of both moved higher following the reports, which Mylan responded to by stating that it is fully committed to its stand-alone strategy, including its proposal to acquire Perrigo (PRGO). Mylan Chairman Robert Coury said that rumors of potential interest from Teva have been "circulating for some time," but that such a combination is "without sound industrial logic or cultural fit" and would be unlikely to receive antitrust regulatory clearances. Coury added that Mylan's board would "carefully consider" a bid if any party makes an "actual offer" to acquire the company. Shares of General Electric (GE) reported a loss of $1.35 per share due to large charges related to its planned exit from the majority of its GE Capital business. Adjusting for special items, GE's operating earnings per share of 31c topped the consensus forecast by 1c. Additionally, GE said it has received "strong inbound interest" in its GE Capital assets following the company's April 10 investor update. MAJOR MOVERS: Among the notable gainers following their earnings reports were Celanese (CE), which rose $9.04, or 15.55%, to $67.18, and Mattel (MAT), which advanced $1.48, or 5.84%, to $26.75. Among the noteworthy losers after their quarterly reports were SerivceNow (NOW), which fell $9.55, or 11.53%, to $73.29, and Advanced Micro Devices (AMD), which dropped 29c, or 10.28%, to $2.58. INDEXES: The Dow declined 279.47, or 1.54%, to 17,826.30, the Nasdaq fell 75.98, or 1.52%, to 4,931.81, and the S&P 500 dropped 23.81, or 1.13%, to 2,081.18.
16:11 EDTAAPLOptions Update; April 17, 2015
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13:39 EDTSNEElectronic Arts says Star Wars Battlefront begins shipping November 17
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12:21 EDTGE, VZOn The Fly: Top stock stories at midday
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11:20 EDTGOOGGoogle deal possible after Yahoo amends search pact with Microsoft, analyst says
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11:00 EDTGESynchrony Financial will not return dividends, buybacks till after separation
Synchrony Financial (SYF) does not expect to have any dividends or buybacks till it is fully separated from General Electric (GE). It expects capital to grow in that time. The company adds that it expects credit trends will continue to be stable and it is seeing impact of compelling new value propositions. Comments taken from Q1 earnings conference call.
10:34 EDTAAPLApple seeks to launch Apple Pay in Canada in November, WSJ reports
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10:25 EDTAAPLApple seeks to launch Apple Pay in Canada in November, DJ reports
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10:00 EDTAAPLOn The Fly: Analyst Initiation Summary
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09:36 EDTAAPLActive equity options trading on open
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09:14 EDTGEOn The Fly: Pre-market Movers
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09:06 EDTGESynchrony Financial reports Q1 provision for loan losses $687M
Synchrony (SYF) reports Q1 provision for loan losses decreased $77M to $687M largely due to improved asset quality trends. Reports estimated Tier 1 Common Equity ratio under Basel I was 16.9% and the estimated fully phased-in Common Equity Tier 1 ratio under Basel III was 16.4%. Q1 return on assets was 3.0% and return on equity was 20.8%. Net interest margin declined 304 basis points to 15.79%, primarily due to the impact from the significant increase in liquidity versus the prior year. Efficiency ratio increased to 32.2%, mainly due to increased investments in growth and infrastructure build in preparation for separation from GE (GE).
09:04 EDTGESynchrony Financial says separation from General Electric on track
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08:36 EDTGEGE CEO says U.S. economy getting 'a little better every day'
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08:33 EDTGEGE says received 'strong' inbound interest on GE Capital assets
General Electric (GE) said it has received "strong inbound interest" in its GE Capital assets following the company's April 10 investor update. The company said it is prioritizing portfolio actions to maximize franchise value and that its Synchrony (SYF) separation efforts are on track.
08:04 EDTGEGeneral Electric sees double-digit growth in Power & Water orders in Q2
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07:58 EDTGOOGGoogle April weekly volatility elevated into Q1 and outlook
Google April weekly call option implied volatility is at 35, May is at 26, June is at 22; compared to its 26-week average of 24 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 23.
07:15 EDTGOOGYahoo search deal with Google could add $10/share, says Jefferies
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07:15 EDTSNEMarch NPD video game software sales declined 3%, says Piper Jaffray
Piper Jaffray notes March NPD video game software sales declined 3% year-over-year, with major titles for the month including Electronic Arts' (EA) Battlefield Hardline, Bloodborne from Sony (SNE) and Take-Two's (TTWO) Grand Theft Auto V. Piper notes the monthly decline is the first in 2015, leaving the segment up 2% through the first three months combined. It keeps Overweight ratings on Activision Blizzard (ATVI), Electronic Arts, GameStop (GME) and Take-Two.
06:41 EDTGEGeneral Electric reports Q1 Oil and Gas revenue flat and operating profit up 11%
06:39 EDTGEGeneral Electric CEO says GE performed in well in volatile environment
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06:38 EDTGEGeneral Electric on track for FY15 Industrial EPS $1.10-$1.20
06:38 EDTAAPLApple initiated with an Outperform at FBR Capital
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06:38 EDTGEGeneral Electric reports Q1 Industrial segment profit up 9% to $3.6B
Reports Q1 orders $23.1B; Reports Q1-end backlog $263B; Reports Q1 Industrial segment gross margins up 90 basis points to 26.2%. Reports Q1 Industrial segment operating margins up 120 basis points to 14.6%.
06:35 EDTGEGeneral Electric reports Q1 operating EPS 31c, consensus 30c
Reports Q1 preliminary revenue excluding GE Capital exit impacts $33.1B, consensus $34.23B
06:33 EDTAAPLChina suspends new bank technology policy, NY Times reports
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06:26 EDTGOOGGoogle looking to improve how users view mobile search results
Google announced in a blog post that it is rolling out a fix to improve how people view mobile search results. The company said it is updating the algorithms that display URLs in the search results "to better reflect the names of websites, using the real-world name of the site instead of the domain name, and the URL structure of the sites in a breadcrumbs-like format." Reference Link
06:17 EDTDISH, VZVerizon to offer monthly custom TV plans, Reuters reports
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06:04 EDTGOOGEconomists warn of uphill battle in case against Google, Financial Times says
Economists believe that the European Commission will have an uphill battle in proving that Google's practices have harmed consumers, reports the Financial Times. Although the antitrust case is enjoying broad political support across Europe and among Google's rivals, economics professors have said “proving a company has engaged in exclusionary practices is not an easy task. This is an area of competition where it is difficult to adopt simple rules and where each case is often a special one.” Reference Link
05:53 EDTSNEWikiLeaks publishes previously hacked Sony emails, Financial Times reports
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April 16, 2015
19:37 EDTGOOGGoogle plans $1B investment in Iowa data center, Des Moines Register says
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16:02 EDTAAPLOptions Update; April 16, 2015
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15:49 EDTGEGeneral Electric April volatility elevated into Q1 and outlook
General Electric April call option implied volatility is at 54, May and June is at 18; compared to its 26-week average of 18 according to Track Data, suggesting large near term price movement into the expected release of Q1 on April 17.
15:23 EDTGENotable companies reporting before tomorrow's open
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13:53 EDTAAPLApple cooperation with antitrust monitor declines, Reuters says
A court appointed monitor notified a judge that Apple's cooperation with him has "sharply declined," says Reuters. The monitor, who was assigned to Apple after the company was found liable for conspiring to raise e-book prices, said that Apple objected to providing information and "inappropriately" attempted to limit his activities, added Reuters. Reference Link
13:36 EDTAAPLApple watches won't be available in-store in May, Telegraph reports
Apple Watches will not be available to buy in-store in May, according to a memo from Apple retail chief Angela Ahrendts, The Telegraph reports. Instead, customers will be asked to order online to "get customers the model they want earlier and faster," according to the memo. Reference Link
12:57 EDTGEEarnings Watch: Analyst sentiment positive ahead of GE's Q1 report
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12:26 EDTAAPLYahoo announces four apps for Apple Watch
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12:00 EDTAAPLApple partners with Conservation Fund to preserve 36K acres, Buzzfeed says
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10:00 EDTAAPLOn The Fly: Analyst Initiation Summary
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09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX NEE AMT WFM C PM INTC AA MCD
09:07 EDTAAPLMaxim starts Apple at Hold on non-China iPhone slowdown
Maxim analyst Nehal Chokshi initiated shares of Apple with a Hold rating and $144 price target. After surveying over 800 international consumers, Chokshi thinks iPhone demand in non-Greater China markets will likely be down 16% year-over-year in 2015. The analyst points out, however, that the survey suggests iPhone demand should continue at a 100% rate for 2015 relative to 2014, a data point he calls "significantly positive." Chokshi views Apple as a "very attractive long-term investment," but thinks mature market smartphone lifecycles will trump the strong share gains in China this year.
08:43 EDTAAPLSunPower's China joint venture with Apple to provide solar power in China
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08:04 EDTGECon Edison Devleopment enters into agreement to procure GE energy storage system
GE (GE) announced it will supply Con Edison Development (ED) with an 8 MWh battery energy storage system in Central Valley, CA. The new storage solution will be utilizing GE’s Mark VIe-based plant control system, Brilliance MW Inverters, and packaged lithium ion battery modules. As part of its expanding energy storage portfolio, this project marks the first time GE will introduce a lithium ion battery solution. The system will provide two megawatts of power over a four-hour period, and the deal includes delivery of a complete energy storage system, with associated long-term service agreements.
07:44 EDTSSNLF, AAPLApple calls audible to award 30% of A9 chip orders to TSM, Apple Insider says
Apple (AAPL) has made a "last minute decision" to recruit TSMC (TSM) for 30% of A9 chip orders for its next iPhone after GlobalFoundries continued to experience poor yield rates on production of the next-generation CPU, reports AppleInsider. According to a note from KGI Securities Ming-Chi Kuo, Globalfoundries A9 chip yield rate was at about 30% iyeld rate, well below the "basic requirement" of 50%. Kuo adds that Apple is concerned that Samsung's (SSNLF) chipmaking business may not be able to supply enough of its 14-nanometer design. Reference Link
06:43 EDTAAPLAnalyst: Apple Watch pre-orders exceed 2.3M, MacRumors reports
KGI Securities analyst Ming-Chi Kuo estimates that Apple's debut smartwatch, Apple Watch, has sold over 2.3M units since pre-orders opened, MacRumors reports. The analyst notes that Apple is targeting production of 2M-3M Apple Watch units per month, and that apple could reach 2.5M units produced in June without potential bottlenecks to production. Reference Link
06:25 EDTAAPLPoll: Six percent of Americans intend to buy Apple Watch, Reuters says
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06:11 EDTAAPLApple initiated with a Hold at Maxim
Target $144.
06:08 EDTGOOGMicrosoft counceled EC in Google antitrust probe, NY Post says
Microsoft (MSFT) "complained a lot" and "definitely counseled" the European Commission in its antitrust investigation of Google (GOOG), reports the New York Post, citing a source with direct knowledge of the situation. Reference Link
05:55 EDTSSNLFGalaxy S6 expected to reach 70M in sales during 2015, DigiTimes reports
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05:50 EDTAAPLApple to equip next iPhone next iPhone with Force touch tech, DigiTimes says
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April 15, 2015
16:27 EDTGOOGOn The Fly: Top stock stories for Wednesday
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16:01 EDTAAPLOptions Update; April 15, 2015
iPath S&P 500 VIX Short-Term Futures down 49c to 21.90. Option volume leaders: AAPL NFLX C PBR KMI RIG MCP TWTR GILD BAC according to Track Data.
15:41 EDTGEGeneral Electric, Alstom may have interest in Bombardier rail unit
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15:05 EDTSSNLF, AAPLEarnings Watch: SanDisk to report Q1 results after lowering revenue guidance
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12:38 EDTGOOGAngie's List jumps as analysts weigh in on what's next after CEO resignation
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12:30 EDTGOOGOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session in positive territory for the fifth time in the past six sessions. The move came amid lower than expected manufacturing data and industrial production figures in the U.S. and a report on Chinese GDP growth that matched expectations. Although the averages remain higher near midday, the market is well off its highs as investors await the release of the Fed’s Beige Book report. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing report had a reading of -1.19, versus expectations for a 7.17 reading. Industrial production fell 0.6% in March, versus expectations for a 0.3% decline. Capacity utilization came in at 78.4% during the month, versus the 78.6% that was forecast. NAHB's homebuilder confidence index climbed to 56 in April, versus expectations for a reading of 55. The Federal Reserve is scheduled to release its Beige Book at 2 pm EDT this afternoon. In China, the nation's GDP grew at a 7.0% rate in Q1, which met expectations but was the lowest level of quarterly growth since 2009. A number of March data releases came in below expectations in China, including reports on industrial production, retail sales and fixed investments. In Europe, the European Central Bank kept interest rates unchanged. COMPANY NEWS: The European Commission announced it has opened a formal investigation of whether Google’s (GOOG, GOOGL) conduct in relation to its Android mobile operating system as well as applications and services for smartphones and tablets has breached EU antitrust rules. The Commission also sent a Statement of objections to Google alleging the company has abused its dominant position in the markets for general internet search services in the European Economic Area by favoring its own comparison shopping product in its general search results pages. For its part, Google's SVP of Google Search Amit Singhal said the company "respectfully but strongly" disagrees with the need to issue a statement of objections and looks forward to making its case... After Intel (INTC) reported results that were in-line with its preannouncement and estimated that its 2015 revenue would be roughly flat year-over-year, shares rose 4.5%. However, analysts disagreed on the company's ability to meet its revised outlook, with Wedbush upgrading the stock to Outperform from Neutral, but Citi saying that the company's guidance was too bullish and keeping a Neutral rating on the shares. MAJOR MOVERS: Among the notable gainers was Celsion (CLSN), which gained 20% after the company announced interim data from its ongoing open-label Phase 2 DIGNITY Trial of ThermoDox in recurrent chest wall breast cancer. Also higher was gunmaker Smith & Wesson (SWHC), which gained 13% after raising its guidance, citing orders throughout its fiscal fourth quarter that have been stronger than originally anticipated. Among the noteworthy losers was Alcatel-Lucent (ALU), which dropped 19% after agreeing to merge with Nokia (NOK) in an all-share transaction that values Alcatel-Lucent at EUR 15.6B on a fully diluted basis. Also lower were shares of Precision Castparts (PCP), which fell 3% after the company issued fourth quarter guidance, said it was making headcount reductions and the stock was downgraded at DA Davidson. INDEXES: Near midday, the Dow was up 56.39, or 0.31%, to 18,093.09, the Nasdaq was up 24.52, or 0.49%, to 5,001.81, and the S&P 500 was up 9.80, or 0.47%, to 2,105.64.
10:49 EDTUALUnited Continental April weekly volatility elevated into Q1 and outlook
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10:48 EDTGOOGGoogle 'strongly' disagrees with EU Statement of Objections
In a blog post from earlier, Google's SVP of Google Search Amit Singhal said, in part: "We’ve seen similar allegations of harm from competitors in other areas. And the European Commission today confirmed that it is sending Google a Statement of Objections,SO, regarding the display and ranking of shopping results...While Google may be the most used search engine, people can now find and access information in numerous different ways -- and allegations of harm, for consumers and competitors, have proved to be wide of the mark. Any economist would say that you typically do not see a ton of innovation, new entrants or investment in sectors where competition is stagnating -- or dominated by one player. Yet that is exactly what’s happening in our world. Zalando, the German shopping site, went public in 2014 in one of Europe’s biggest-ever tech IPOs. Companies like Facebook, Pinterest and Amazon have been investing in their own search services and search engines like Quixey, DuckDuckGo and Qwant have attracted new funding. We’re seeing innovation in voice search and the rise of search assistants -- with even more to come. It’s why we respectfully but strongly disagree with the need to issue a Statement of Objections and look forward to making our case over the weeks ahead." Reference Link
10:27 EDTGOOGEU unlikely to force structural changes to Google Search, says Baird
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10:06 EDTAAPL, SSNLFSamsung creates team to work exclusively on Apple devices, Bloomberg reports
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09:35 EDTAAPLActive equity options trading on open
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08:56 EDTAAPLVIX methodology for Apple elevated at 35.58
VIX methodology for Apple (VXAPL) at 35.58 compared to its 50-day moving average of 28.57.
08:35 EDTDISHRovi to power DISH's voice-based TV interface
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08:01 EDTAAPLApple services profit contribution rising, says UBS
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06:46 EDTTAT&T files lawsuit to challenge net neutrality order, WSJ says
AT&T filed a lawsuit to overturn the FCC's net neutrality order to reclassify the internet as a telecommunications service, reports the Wall Street Journal. The move is surprising, as AT&T didn't join in prior suits, the Journal adds. Reference Link
06:35 EDTAAPLSamsung says Galaxy S6 demand much stronger than expected, Reuters reports
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06:31 EDTGOOGGoogle's wireless service reportedly called 'Project Fi,' Android Police says
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06:24 EDTGOOGEU sends statement of objections to Google on comparison shopping service
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06:23 EDTGOOGEU opens formal investigation against Google regarding Android mobile OS
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06:18 EDTGOOG, AAPLApple, Google, others doubling down on European operations, WSJ reports
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06:14 EDTSSNLF, AAPLSamsung may be borrowing from Apple profit margin strategy, WSJ reports
Samsung (SSNLF) could be borrowing from Apple's (AAPL) profit margin strategy by charging customers $100 more for each incremental gain in storage capacity, reports the Wall Street Journal. IHS senior director of research and analytics Andrew Rassweiler said it costs Samsung makes an extra $87 in profit each time it sells a 64-gigabyte Galaxy S6 and an extra $160 each time it sells a 128-gigabye device. Rassweiler adds that Apple has been structuring its iPhone offerings like this for years to improve margins. Reference Link
05:55 EDTAAPLSmart wearaable device vendors avoid Apple Watch competition, DigiTimes says
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05:55 EDTSSNLFSamsung Taiwan mobile business general manager to resign, DigiTimes reports
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April 14, 2015
20:00 EDTGOOGGoogle says EU likely to open formal investigation into Android, Re/code says
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18:27 EDTGOOGGoogle in talks to allow advertisers to target pre-existing customers, WSJ says
Google is in talks with advertisers to gain access to their customer information, allowing Google to target ads to pre-existing customers of a given company, reports the Wall Street Journal, citing people familiar with the matter. The new ads may be launched later this year or in early 2016, said the sources. Reference Link
17:45 EDTAAPLApple acquires Israel-based camera-technology company LinX, WSJ says
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16:00 EDTAAPLOptions Update; April 14, 2015
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15:45 EDTGOOGEU decides to charge Google with antitrust violations, WSJ says
European antitrust head Margrethe Vestager has decided to file formal antitrust charges against Google, reports the Wall Street Journal, citing a person familiar with the matter. Sources said the decision will be announced Wednesday and was made after consulting with European Commission President Jean-Claude Juncker. The Journal notes that fines may theoretically exceed $6B.Reference Link
15:27 EDTGOOGEU decides to file formal charges against Google, Dow Jones says
13:20 EDTSNE, GOOGRecord labels lobby for better royalties from YouTube, Dailymotion, FT says
The International Federation of the Phonographic Industry alleged Tuesday that certain digital video platforms including Google's (GOOG) YouTube and Orange's (ORAN) Dailymotion are relying too much on "safe harbour" laws to avoid paying royalties to record labels, reports the Financial Times, citing statements by IFPI CEO Frances Moore. The move comes as the European Commission weighs reforming EU copyright law. The IFPI is a recording industry group that counts Sony (SNE) Music Entertainment and Vivendi's (VIVHY) Universal Music Group among its members. Reference Link
12:40 EDTT, SSNLFPCTEL lowers FY15 revenue to $124M-$130M from $133M-$138M, two estimates $130M
Following its March 5 acquisition of Nexgen Wireless, PCTEL (PCTI) reported in a regulatory filing earlier that on April 7, Samsung Electronics America, a Samsung (SSNLF) subsidiary, provided Nexgen and PCTEL with a notice of Samsung’s election to terminate, effective April 30, the contractor services agreement between Samsung and Nexgen. Nexgen furnishes services to Samsung under the CSA including Meridian software-based services and contract personnel. The termination applies to the CSA only and will have no effect on other agreements between Samsung and Nexgen or PCTEL. The company continues to forecast 15%-18% revenue growth over FY14 and views the Nexgen acquisition as accretive to earnings in FY15. The company has revised its overall revenue forecast for FY15 in light of reduced business with Samsung, the reduction in capital spending by AT&T (T), and a decline in new network infrastructure investment in the oil and gas market. The company has revised revenue guidance from $133M-$138M to $124M-$130M. Finally, the company and Nexgen have signed a term sheet calling for a material reduction of the total consideration paid or payable by PCTEL for the Nexgen assets, and a material reduction of the equity compensation for which John Thakkar, the founder and president of Nexgen, will be eligible. These reductions seek to align the asset acquisition costs with the revised revenue and EBITDA estimates.
12:05 EDTGEMarketo engagement marketing platform to integrate with LinkedIn
Marketo (MKTO) announced it will partner with LinkedIn (LNKD) on a solution that connects LinkedIn's Lead Accelerator solution with Marketo's Engagement Marketing Platform. The combination "bridges the gap between digital, social and offline channels to enable marketers to engage in relevant conversations with customers wherever they are online," the company said. GE (GE) will pioneer the joint solution, Marketo announced.
12:01 EDTAAPLApple says ResearchKit now available to medical researchers
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11:16 EDTGOOGCredit Suisse's top Internet picks
Credit Suisse's top large-cap Internet picks remain Amazon.com (AMZN) for operating margin expansion and normalizing International growth, Facebook (FB) for underestimated long-term monitization potential from growing new products, and Google (GOOGL) for a slowdown in capex and narrowing of the mobile-desktop monetization gap. The firm's top small-cap picks are LinkedIn (LNKD) for the ramp of Sales Navigator and acceleration of Marketing Solutions and Yelp (YELP) because of reduced churn and increasing mobile traffic growth and ARPU.
11:01 EDTGOOGFrance may push for Google to reveal secret algorithm, Financial Times says
France is considering forcing Google to hand over its secret formula for ranking websites, reports the Financial Times. The French senate will likely pass a law this week that would allow the country's national telecoms regulator to monitor the algorithms. Reference Link
10:51 EDTGOOGGoogle to sell mobile phone plans directly to customers, The Information reports
Google (GOOG) is looking to sell mobile phone plans directly to customers while managing their calls and mobile data over a cellular network, reports The Information. According to people with knowledge of the plans, the new service is expected to run on Sprint (S) and T-Mobile (TMUS) networks. Google expected to reach deals to buy wholesale across to those carriers' networks. A launch this year seems likely. Reference Link
10:49 EDTGEWells Fargo sees remaining at high end of 55%-59% efficiency ratio target
Says adjusted tax rate leaves company in "mid-32%" range for rest of year. Says will look to work closely with GE Capital (GE) as it sells other businesses. Sees remaining at high end of 55%-59% efficiency ratio target. Says "optimistic" about Q2.
10:27 EDTAAPL, SSNLFSamsung's Galaxy S6 Edge costliest phone to build, Re/code reports
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10:26 EDTGEWells Fargo says underlying economic expansion 'largely on track'
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09:43 EDTAAPLApple to discuss future of iOS and OS X at conference on June 8
Apple announced that it will hold its 26th annual Worldwide Developers Conference June 8 through June 12 at San Francisco’s Moscone West. At WWDC, Apple’s developer community will come together to learn about the future of iOS and OS X. WWDC will feature more than 100 technical sessions, over 1,000 Apple engineers, hands-on labs to help developers integrate technologies and fine tune their apps. Reference Link
09:35 EDTAAPL, GEActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN PBR SU NFLX ALU BIDU TSLA JNJ GE
09:11 EDTDISHDISH says Netflix now availble to Joey clients
DISH (DISH) announced that it began making Netflix (NFLX) available on Hopper’s accompanying Joey units for second, third and fourth-room viewing. With this update, DISH becomes the first major U.S. pay-TV provider to offer its customers a whole-home Netflix experience, the company said. The Joey launch follows the launch of the Netflix app on its second-generation Hopper DVR in December, DISH noted. DISH also said it became the first pay-TV provider to offer Vevo, which gives customers access to more than 140,000 music videos from their TV. The new Vevo app begins rolling out to DISH’s second-generation Hopper today.
08:40 EDTAAPLSeveral signs suggest Apple may build a car, says Bernstein
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07:35 EDTGEVeracyte and General Electric join to develop genomic diagnosis solutions
Veracyte (VCYT) and GE (GE) announced a research collaboration to develop new solutions that can improve disease diagnosis. Financial and other terms were not disclosed. Veracyte will collaborate with GE Ventures, GE Healthcare, and the GE Global Research Center to explore the feasibility of combining Veracyte's genomic technology with GE Healthcare's digital imaging technology. Through the agreement, Veracyte and GE aim to identify features from raw imaging data that, when combined with genomic information, have the potential to elucidate useful, new information to further address unmet clinical needs.
07:10 EDTUALAviation Week to hold a conference
MRO Americas 2015 is being held in Miami Beach on April 14-16.
06:08 EDTGOOGAccess to Google's Malaysia website disrupted for some, WSJ reports
Some Google users in Malaysia had their access to the website interrupted on Tuesday, with some redirected to a website saying "Google Malaysia Hacked," The Wall Street Journal reports. A Google spokesperson commented that services like Gmail were not affected and said that "We’re aware that some users are having trouble connecting to google.com.my, or are being directed to a different website. We’ve reached out to the organization responsible for managing this domain name and hope to have the issue resolved shortly." Reference Link
05:54 EDTSNESony creates unit built for local language production, Financial Times says
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05:48 EDTAAPLReport: Foxconn engaged in selling second-hand iPhones in China, DigiTimes says
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05:46 EDTSSNLFReport: Samsung to hold off release of flexible tablets in 2015, DigiTimes says
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April 13, 2015
20:16 EDTVZ, TUSTelecom files net neutrality lawsuit against FCC
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19:52 EDTGOOGLeaked Google app reveals potential cell network features, Android Police says
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17:10 EDTAAPLIBM establishes a Watson Health Cloud
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16:21 EDTAAPLOn The Fly: Top stock stories for Monday
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16:01 EDTAAPL, GEOptions Update; April 13, 2015
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13:26 EDTAAPLOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Dow and S&P 500 slightly lower and the Nasdaq clinging to a narrow gain. The broader market opened in positive territory and the averages moved in a narrow trading range during the morning. The Nasdaq has been the strongest of the indices since the open, though early gains from Apple (AAPL) and Qualcomm (QCOM) had evaporated by near midday, taking a bite out of the gains the index had been seeing earlier in the session. ECONOMIC EVENTS: In the U.S., no major economic data was released. In China, export sales unexpectedly contracted 15% in March, while imports shrank 12.7% last month from a year ago. The March fall in imports was in line with forecasts, unlike the one for exports, which were expected to rise 12%. COMPANY NEWS: Activist investor Jana Partners is putting pressure on Qualcomm to increase stock buybacks and take other actions to increase shareholder value, including an exploration of spinning off its chip unit from its patent-licensing unit. In response to statements made by JANA, Qualcomm noted that it recently increased its stock repurchase authorization to $15B and repeated that it plans to repurchase $10B of common stock within one year. Barry Rosenstein of JANA Partners, while speaking on CNBC, said Qualcomm should buy back $15B of its shares over the next six months, before the company undertakes strategic actions that could move the stock higher... Apple shares were rising early in the trading day but had given up their gains by midday. Pre-orders of its new Apple Watch started Friday. The company did not release any sales figures for the first weekend, but research firm Slice Intelligence estimated that nearly one million customers in the U.S. preordered the device on the first day it was available. MAJOR MOVERS: Among the notable gainers were Alamos Gold (AGI), which rose 6%, and AuRico Gold (AUQ), which rose 7%, after the companies announced an agreement to combine via "a merger of equals" with a transaction equity value of about $1.5B. Upon completion of the deal, former Alamos and AuRico shareholders will each own approximately 50% of the new Alamos Gold and a new company, to be named AuRico Metals, will be created to hold AuRico's Kemess project and some other assets. The newly formed company will own a 4.9% equity interest in the spinoff and the remaining "SpinCo" shares will be distributed 50% each to former Alamos and AuRico shareholders. Also higher was Builders FirstSource (BLDR), which gained 65% after announcing that it has entered into an agreement to acquire ProBuild Holdings in an all-cash transaction valued at about $1.63B. Among the noteworthy losers was Basic Energy (BAS), which fell 8% after Raymond James downgraded the stock to Market Perform based on valuation, substantial pricing pressure, and industry overcapacity. Also lower were U.S.-listed shares of Sina (SINA), which dropped 5% after the Financial Times reported that China's government has warned that it will shut down the company's service if it does not "improve censorship." INDEXES: Near midday, the Dow was down 19.08, or 0.11%, to 18,038.57, the Nasdaq was up 7.93, or 0.16%, to 5,003.91, and the S&P 500 was down 3.04, or 0.14%, to 2,099.02.
12:46 EDTAAPLApple to update capital return policy on April 27, says Piper Jaffray
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09:34 EDTGE, AAPLActive equity options trading on open
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09:24 EDTAAPLApple Watch sales conversion showing good results, says Cowen
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09:20 EDTAAPLOn The Fly: Pre-market Movers
HIGHER: Builders FirstSource (BLDR), up 54.35% after acquiring ProBuild in all-cash transaction... Arrowhead (ARWR), up 14.3% after being cleared to proceed with multiple dose Phase 2b study of ARC-520... Oramed Pharmaceuticals (ORMP), up 6.9% after enrolling first patient in glucose clamp study for oral insulin... Clovis Oncology (CLVS), up 8.2% after being upgraded to Buy from Neutral at Goldman... Quantum (QTM), up 3.2% after announcing go-to-market partnership with Dot Hill Systems (HILL)... Netflix (NFLX), up 3.4% after being upgraded to Buy from Neutral at UBS... Apple (AAPL), up just under 1% following reports of Apple Watch orders. LOWER: Sina (SINA), down 3% following a report from the Financial Times that China may shut down the company if censorship doesn't improve... Ruckus Wireless (RKUS), down 2.9% after being downgraded to Buy from Conviction Buy at Goldman... Allot Communications (ALLT), down 2.7% after being downgraded to Hold from Buy at Needham.
08:42 EDTSNEPandora rises after Spotify reportedly valued above $8B in fundraising
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08:14 EDTGOOGSolarCity announces partnership with Nest Labs
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07:52 EDTGEBlackstone Mortgage portfolio purchase from GE a win for both, says UBS
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07:48 EDTAAPLVocera announces first clinical communications app for Apple Watch
Vocera (VCRA) announced the Vocera app for Apple's (AAPL) Apple Watch. The Apple Watch enables Vocera to extend the power of the Vocera Communication Platform in new ways so physicians and care teams can engage with and respond to life-critical communications and alerts. The Vocera app for Apple Watch will allow users to rapidly manage life-critical communications by viewing and responding to prioritized calls, alerts, and messages from other care team members, Electronic Health Records and clinical systems, including critical lab values and STAT orders. In addition, users will be able to manage key communication functions by setting their availability to enable proper message routing. The Vocera app also allows users to initiate panic calls in "man-down" emergency situations, improving staff safety. The Vocera app will be available this summer from the Apple Watch App Store.
07:29 EDTAAPLApple May weekly volatility elevated into Q2 and outlook
Apple April call option implied volatility is at 28, May weekly is at 36, June is at 29; compared to its 26-week average of 26 according to Track Data, suggesting large May price into the expected release of Q2 results on April 27.
07:16 EDTVZTechWeek to hold a conference
TechWeek Detroit 2015 is being held in Detroit on 4/13-19.
07:15 EDTAAPLApple Watch orders totaled about 957K in U.S. on first day, Apple Insider says
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07:03 EDTGEGeneral Electric risk/reward ratio positive, says Bernstein
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06:51 EDTAAPLApple Watch off to strong start, says Cantor
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06:44 EDTGOOGEU could announce formal charges against Google, NY Times says
The EU's new antitrust commissioner, Margrethe Vestager, is making her first trip to Washington, causing some to speculate that she could announce formal charges against Google, according to The New York Times. Such an announcement could increase pressure on Google to settle the case, but Vestager could also recommend further study of the case or give the company a last opportunity to settle before filing formal charges, the newspaper stated. Reference Link
06:35 EDTAAPLApple Watch trends show solid demand, limited supply, says Piper Jaffray
Piper Jaffray says lead-times for the Apple Watch were unchanged over the weekend, which it views as an indication that Apple is expecting a ramp in production in mid-May to June. Overall, Piper views the Watch trends over the weekend as suggesting solid demand paired with very limited supply. It maintains an Overweight rating on Apple with a $160 price target.
06:32 EDTGEReal estate is a big part of Blackstone's business, NY Times says
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06:30 EDTAAPLApple in talks with Florence and the Machine for Beats service, Bloomberg says
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06:24 EDTDISHTime Warner tries to win over TV providers in cord-cutter pitch, WSJ says
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06:09 EDTGEGE must prove that industrial business can grow reliably, WSJ reports
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06:09 EDTSSNLFSamsung semiconductor CapEx to reach $15B in 2015, DigiTimes reports
Samsung's semiconductor capital spending is expected to reach a record $15B in 2015, reports DigiTimes Research. The company's CapEx for system ICs is expected to reach $4B, mainly to finance the commencement of its Line-17 fab in Hwasong and a buildup of its plant in Austin, Texas. Reference Link
06:07 EDTUALUS airline carriers accused of hypocrisy in subsidy debate, LA Times reports
American Airlines (AAL), Delta Air Lines (DAL) and United Airlines (UAL) have complained that Etihad, Emirates and Qatar Airlines have an unfair advantage due to the $42B in government subsidies received over the last decade, reports the Los Angeles Times. The U.S. carriers have asked federal officials to renegotiate an Open Skies agreement, although a new congressional report says that the U.S. airline industry benefited from $155B in support from the U.S. government from 1918 to 1999. Reference Link
05:59 EDTAAPLApple contacts Irish banks ahead of Apple Pay rollou, The Independent says
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05:49 EDTGEStocks with implied volatility movement; GE SD
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