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News Breaks
June 2, 2014
13:52 EDTGOOGLGoogle Class A slips lower, levels to watch
The shares are trading lower after news that Apple's next version OS X, Yosemite, will use Microsoft's Bing for search. At the current price of $560.33, next support is at $556.70, the low of the session so far. Resistance is at $562.90.
News For GOOGL From The Last 14 Days
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September 30, 2015
06:31 EDTGOOGLGoogle open to self-driving cars with manual option, WSJ reports
Google co-founder Sergey Brin said that the company is open to self-driving cars that can also be driven manually, the Wall Street Journal reports. The car may be able to switch between the two modes, the report says. Reference Link
06:15 EDTGOOGLGoogle secretive about self-driving car business plan, Re/code says
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September 29, 2015
11:23 EDTGOOGLNeuroMetrix launches Android app for Quell
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09:42 EDTGOOGLD-Wave agrees to provide tech to Google, NASA, USRA
Harris & Harris (TINY) said its portfolio company, D-Wave Systems, announced that it has entered into a new agreement covering the installation of a succession of D-Wave systems located at NASA's Ames Research Center in Moffett Field, California. This agreement supports collaboration among Google (GOOG), NASA, and USRA that is dedicated to studying how quantum computing can advance artificial intelligence and machine learning and the solution of difficult optimization problems. The new agreement enables Google and its partners to keep their D-Wave system operating at the state-of-the-art level of performance for up to seven years, with new generations of D-Wave systems to be installed at NASA Ames as they become available.
06:56 EDTGOOGLApple markets privacy, criticizes Google, Verge says
Apple (AAPL) continues to strengthen its credentials as a company caring about privacy, having updated its privacy site, adding in details on how data is collected for new iOS 9 features, such as the News app, the Verge reports. The site includes a letter from CEO Tim Cook, the report says. The company's description of Maps privacy may be a thinly-veiled criticism of Google (GOOG), the Verge says. Reference Link
September 28, 2015
10:43 EDTGOOGLMicrosoft planning Google Cardboard VR competitor, TNW News says
Microsoft (MSFT) is working on a competitor to Google's (GOOG) Cardboard Virtual Reality program, TNW News reports. The Seattle-based tech giant is inviting participants to an event in Russia on October 17, offering cardboard headsets to those with "successful" suggestions, the report says. Microsoft is already developing its HoloLens "mixed reality" technology, the report says. Reference Link
07:40 EDTGOOGLGoogle to unveil new phones at September 29 event, BI reports
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September 25, 2015
17:33 EDTGOOGLDelta Air Lines, Google, Amgen look attractively priced, Barron's says
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10:48 EDTGOOGLMorgan Stanley cautious on media, but sees several stocks punished too hard
Morgan Stanley cut its price targets on a number of media companies, citing the impact of cord cutting and skinny bundles. The firm also reduced its outlook for the pay-TV sector due to its belief that the adoption of skinny bundles will accelerate, while the outlook for cable TV ads has deteriorated slightly, given macro pressures. The firm kept a Cautious view on the media sector, but also identified several stocks in the space that it thinks have been punished too harshly by investors recently. WHAT'S NEW: TV networks in general, and cable networks in particular, have the highest margins in media and are encountering increased top and bottom line competitive pressures, Morgan Stanley analyst Benjamin Swinburne believes. On the top line, they are being hit by ratings and ad pressures as well as cord cutting and distribution consolidation, the analyst stated. Meanwhile, their profit is being hurt by the increased need to obtain new content and intensified competition for content from new sources like Netflix (NFLX) and Google's (GOOG) YouTube, Swinburne said. However, the analyst thinks that media stocks are "starting to get" cheap, given the leverage that many of the companies carry. Swinburne cuts his price target on 21st Century Fox (FOXA) to $31 from $37, on AMC Networks (AMCX) to $86 from $88, on CBS (CBS) to $46 from $56, on Time Warner (TWX) to $72 from $87 and on Viacom (VIAB) to $48 from $60. He kept Overweight ratings on Fox, AMC and CBS, an Equal Weight rating on Time Warner and an Underweight rating on Viacom. OVERDONE DECLINES: Swinburne believes that the declines in three media stocks - CBS, 21st Century Fox, and AMC Networks - have been overdone, while the decline in Comcast's (CMCSA) stock has also been excessive. CBS and 21st Century Fox are "best positioned for the skinny bundle" and have the cheapest valuations relative to their growth rates, Swinburne believes. Meanwhile, AMC Networks has "content momentum" and its EPS can exceed expectations, the analyst believes. Comcast is gaining share in the broadband Internet market, could take share in video soon, and has sufficient scale and offerings to benefit from the increased popularity of skinny bundles, according to the analyst, who kept an Overweight rating on the stock. The media sector could benefit from consolidation going forward, added Swinburne, who recommended that investors interested in buying potential takeover targets in the space focus on AMC Networks, MSG Networks (MSG) and Dreamworks Animation (DWA). He kept Overweight ratings on all three of those stocks. OTHERS TO WATCH: Besides Comcast, other pay TV companies include DISH Network (DISH) and Charter Communications (CHTR). PRICE ACTION: In early trading, Fox A shares lost 0.5% to $25.83, AMC fell 0.3% to $73.29, CBS added 0.2% to $41, Time Warner was little changed at $67.66 and Comcast A shares added 0.6% to $57.17.
10:26 EDTGOOGLBlackBerry posts quarterly loss, says turnaround continuing
BlackBerry (BBRY) shares are lower in morning trading after the company posted a second quarter loss that was steeper than analysts' expectations. BlackBerry is in the middle of a turnaround for its smartphone business and confirmed today that it plans to launch a new device that uses Google's (GOOG) Android operating system. EARNINGS: Excluding items, BlackBerry reported a loss per share for Q2 of (13c), below analysts' consensus estimates of (9c). Revenue for the quarter was $490M, reflecting a purchase accounting write down of deferred revenue associated with the acquisition of WatchDox. The revenue result may not compare with analysts' estimate of $611M. Looking ahead, BlackBerry said it is targeting "sustainable" non-GAAP profitability in the fourth quarter and sees "modest" sequential growth in total revenue for the rest of fiscal year 2016. The company sees a "slight" uptick in third quarter revenue compared to this quarter, and announced it will change its non-GAAP income statement presentation to be "consistent with the primary practice in the software industry." BlackBerry said it believes this is necessary due to its increased emphasis on software, as well as acquisitions of software companies with material recurring revenue streams. On the company's earnings conference call, John Chen, BlackBerry's chief executive officer, announced that the board approved an increase to the current buyback program by an additional 15M shares, bringing the total available for repurchase to 21M shares. The approval was based on expectations for continued free cash flow. Chen said that he believes the company has made "good progress" moving its software business from perpetual to subscription. Chen said he is "not satisfied" as far as overall revenue and profitability, particularly in its handset business, but said the company is focused on growing device volume profitably, generating recurring revenue from IP licensing and making its software business larger. WHAT'S NOTABLE: To help strengthen its device business, Chen confirmed BlackBerry will launch a new slider device powered by Google's Android operating system later this calendar year, to be called Priv. Chen also confirmed that the company will continue to develop and enhance the BlackBerry 10 operating system and confirmed plans to release platform updates focused on security and privacy enhancements. Chen said the company is working with Google to secure Android and is not using Samsung's (SSNLF) Knox. Chen said the company is not planning another BlackBerry 10 device this year and noted that if the plan of doing the Android type of implementation "works well," it could consider replacing BB10 or merging it into Android. PRICE ACTION: BlackBerry is down 2% to $6.89 in morning trading.
08:50 EDTGOOGLBlackBerry says working with Google on securing Android
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07:04 EDTGOOGLBlackBerry launches slider device Priv
BlackBerry (BBRY) is announcing two new additions to its handheld device roadmap. First, the company will launch a flagship slider device, Priv, which will run on the Android (GOOG) operating system, bringing together the best of BlackBerry security and productivity with the expansive mobile application ecosystem available on the Android platform. In combination with BlackBerry's efforts to support Android for Work on the BES12 platform, the new device will offer best in class security for enterprise customers. BlackBerry expects the device to be available late in the calendar year in major markets in-store and online, and will release further details in the coming weeks. While the new device will provide a choice in OS to new and existing customers, the company remains committed to the BlackBerry 10 operating system, which enables industry-leading security and productivity benefits. Second, the company will continue to develop and enhance the BlackBerry 10 operating system and is confirming plans to release platform updates focused on security and privacy enhancements, with version 10.3.3 scheduled to be available in March 2016.
06:59 EDTGOOGLGoogle to be investigated by U.S. regulators over Android, Bloomberg reports
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06:21 EDTGOOGLFacebook's free internet effort in developing countries 'inadequate,' WSJ says
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September 24, 2015
13:03 EDTGOOGLEU investigates internet firms' online practices, Reuters reports
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11:15 EDTGOOGLAnalyst sees $55,000 car from Apple as soon as 2019
Apple (AAPL) could introduce a car by as soon as 2019, but assuming an average selling price of $55,000 and 200,000 shipments, the contribution to the tech giant's earnings in that year is probably not enough to "excite" investors, said the research team at Jefferies this morning. However, a car would give the tech giant some "much needed" diversification away from the iPhone and would be positive for the broader tech space, the firm added. RIPE FOR DISRUPTION: Jefferies analysts Sundeep Bajikar, Mark Lipacis and their team say their analysis indicates the automobile industry is "ripe for disruption" and that Apple is well positioned to introduce a car, potentially as early as 2019. A car could add 32c to Apple's earnings per share in FY19 under a best-case scenario, Bajikar tells investors. He assumes a $55,000 average selling price for an Apple Car and an operating margin of 20%, over 1,000 basis points higher than the Street's 2019 margin estimate for electric carmaker Tesla (TSLA). Investors are likely to find the assumptions "highly aggressive," the analyst cautions. Meanwhile, the potential earnings impact is probably not big enough for Apple investors to get excited and earnings contributions from a vehicle may not become meaningful before iPhone decelerates, the analysts argue. However, the firm said it could get more constructive on Apple shares if diversification in earnings were to drive less iPhone risk. Bajikar and Lipacis keep a Hold rating on the iPhone maker with a $126 price target. TOP CHIP PICKS: Efforts in the car market from tech heavyweights Apple and Google (GOOGL) will lead the industry to design and sell more intelligent vehicles, accelerating the growth of semiconductors for automobiles above current forecasts, contend Jefferies' analysts in a separate note to investors this morning. The analysts lay out their top picks among automotive semiconductor suppliers, saying the pending merger of NXP Semiconductors (NXPI) and Freescale (FSL) will create the world's biggest automotive semi company, adding that growth in microcontroller content and networking applications will benefit that combined giant. NVIDIA's (NVDA) automotive sales have grown the fastest since the end of the 2012 fiscal year among the companies the firm follows, while Maxim Integrated (MXIM) had the second fastest growth in that time frame, the analysts noted in naming those two as their other top picks in the space. Lipacis and Bajikar identified Analog Devices (ADI), Microchip (MCHP) and Linear Technology (LLTC) as other notable beneficiaries from the expected growth of semiconductor content in automobiles. PRICE ACTION: Amid broad weakness in the market, Apple shares are down 1.5% to $112.56. Meanwhile, the Philadelphia Stock Exchange Semiconductor Sector index (SOX) is down 2.4% this morning.
08:57 EDTGOOGLGoogle price target raised to $781 from $730 at Citi
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07:24 EDTGOOGLWPP CEO: Google needs to weed out 'fake' online ad views, FT reports
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06:59 EDTGOOGLFacebook and Google more 'Yelp-like' than ever, says Northland
Northland analyst Darren Aftahi says Facebook (FB), Google (GOOG, GOOGL) and (AMZN) have recently added new features that focus on improved local search as well as tools enabling easier business-consumer communication. Facebook and Google are now more "Yelp-like" than ever, Aftahi tells investors in a research note. And while Apple's (AAPL) new "swipe right" feature could drive a near-term surge in Yelp (YELP) app downloads, it may translate into lower engagement on the Yelp app over longer term, the analyst argues. He remains cautious on Yelp's growth prospects and cut his price target for the stock to $17.75 from $21.50. Shares of the local business review site closed yesterday down 25c to $23.10. Aftahi has an Underperform rating on the stock, his firm's equivalent of a sell.
September 22, 2015
07:15 EDTGOOGLCloudFlare raises $110M from consortium of Google, Microsoft, others
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