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Stock Market & Financial Investment News

News Breaks
July 9, 2014
12:54 EDTGRMN, GPRO, AAPLGarmin tumbles after analyst sees risk from GoPro, Apple products
Shares of portable device maker Garmin (GRMN) are sinking after research firm Pacific Crest downgraded the stock to Underperform from Sector Perform, saying that the company is facing a number of challenges. WHAT'S NEW: Sales of the company's fitness tracker, vivofit, are unlikely to surpass expectations this year or propel the company's EPS above the current consensus outlook, Pacific Crest analyst Brad Erickson wrote. Meanwhile, Erickson said Garmin's action camera, VIRB, is being crushed by a competing product from newly-public GoPro (GRPO), which is showing no signs of slowing down. Additionally, Apple (AAPL) is widely expected to launch a larger screen iPhone later this year and such a device could create challenges for Garmin's personal navigation devices, the analyst warned. Also, the watch that Apple is reportedly developing would create some competitive risk for Garmin and create a negative catalyst, according to Erickson. The analyst added that with the potential headwinds facing the company, its stock multiple could compress, pushing its fair value to "the mid-$40 range." PRICE ACTION: In early afternoon trading, Garmin sank $3.59, or 6%, to $57.04.
News For GRMN;GPRO;AAPL From The Last 14 Days
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September 8, 2014
16:00 EDTAAPLOptions Update; September 8, 2014
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13:59 EDTAAPLApple tests support ahead of product announcement
The shares are down less than a percent to $98.20 ahead of Tuesday's expected product announcements. At that price the shares are below the 30-week moving average, but above the 50-week moving average at $96.92. So far there appears little in the way of significant technical damage in spite of recent concerns from the sell-side community. A breakdown tomorrow below the 50-day moving average following the announcements would be cause for greater concern. A move below $95 would break the intermediate-term uptrend on a technical basis. Conversely a move back above the $101 area, near the 10-day moving average, would signal an all-clear on a technical basis for higher prices. The life high for the shares is at $103.74.
13:51 EDTAAPLApple may launch both iPhone models on Sept 19, Apple Insider reports
Apple may launch both iPhone 6 models on September 19, reports Apple Insider. Citing rumors from iGen.fr, the larger 5.5-inch model may not lag behind the 4.7-inch model after all although quantities of the larger version could be limited. Reference Link
12:50 EDTGPROGoPro Septemnrt weekly volatility elevated as shares at record high
GoPro September weekly call option implied volatility is at 84, September is at 70, October is at 53, January is at 40; compared to its 9-week average of 56 according to Track Data, suggesting large near term price movement.
11:29 EDTGPROStocks with call strike movement; GPRO YHOO
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11:19 EDTAAPLApple begins sending email alerts when iCloud accounts assessed, MacRumors says
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11:15 EDTAAPLApple to unveil a new product
The product launch will be held on September 9 at 1 pm. Webcast Link
10:06 EDTGPROOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AIG (AIG) initiated with a Buy at Citigroup... Agilent (A) initiated with an Equal Weight at Morgan Stanley... Altisource Residential (RESI) initiated with a Neutral at JPMorgan... AngloGold (AU) initiated with an Overweight at JPMorgan... Arista Networks (ANET) initiated with an Outperform at FBN Securities... C1 Financial (BNK) initiated with a Buy at Wunderlich... Cherokee (CHKE) initiated with a Buy at Roth Capital... ContraFect (CFRXU) initiated with a Buy at Maxim... DRDGOLD (DRD) initiated with an Underweight at JPMorgan... Enable Midstream (ENBL) initiated with an Equal Weight at Morgan Stanley... Enservco (ENSV) initiated with an Outperform at Northland... GoPro (GPRO) initiated with an Outperform at FBN Securities... Gold Fields (GFI) initiated with an Overweight at JPMorgan... Gulfport Energy (GPOR) initiated with an Equal Weight at Morgan Stanley... Harmony Gold (HMY) initiated with a Neutral at JPMorgan... Illumina (ILMN) initiated with an Equal Weight at Morgan Stanley... LINN Energy (LINE) reinstated with an Outperform at Credit Suisse... LinnCo (LNCO) reinstated with an Outperform at Credit Suisse... Randgold (GOLD) initiated with a Neutral at JPMorgan... Rentrak (RENT) initiated with a Buy at Needham... Rice Energy (RICE) initiated with an Accumulate at KLR Group... SanDisk (SNDK) initiated with an Outperform at FBN Securities... Seadrill (SDRL) initiated with a Sell at Canaccord... Tesla (TSLA) initiated with an Outperform at FBN Securities... Thermo Fisher (TMO) initiated with an Overweight at Morgan Stanley... Waters (WAT) initiated with an Underweight at Morgan Stanley... Whiting Petroleum (WLL) initiated with an Equal Weight at Morgan Stanley.
09:56 EDTAAPLGT Advanced risk profile 'neutral at best' into Apple event, says Canaccord
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09:40 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TWTR TSLA YHOO BAC FB MSFT NFLX GILD MCD
09:29 EDTAAPLCraig-Hallum says Integrated Device likely in Apple iWatch
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09:25 EDTAAPLAlleged leaked images of Apple's iWatch show mic, speaker, Siri, 9to5Mac says
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08:40 EDTAAPLApple volatility increases into September 9 press event
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08:08 EDTGPROGoPro initiated with an Outperform at FBN Securities
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07:35 EDTAAPLAmazon mulls Fire phone UK exclusively deal with O2, FT says
In an effort to rival Apple (AAPL) and Samsung (SSNLF) in the premium smartphone industry, Amazon (AMZN) is in final-stage discussions to sell its new Fire smartphone exclusively through Telefonica’s (TEF) O2 throughout the UK, reported the Financial Times. Reference Link
07:22 EDTAAPLFormer GT Advanced manager points to sapphire covers at Apple, MacRumors says
While neither Apple (AAPL) nor GT Advanced (GTAT) have confirmed that Apple plans to use sapphire covers for its upcoming iPhones, a former product manager at GT claims on his LinkedIn profile that he played a key role in selling Apple on sapphire display covers for its "mobile devices," according to MacRumors, citing a prior report from TechViking. Reference Link
06:44 EDTAAPLApple's iWatch could have own App Store, will run third-party apps, 9to5Mac says
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06:24 EDTAAPLGT Advanced September volatility elevated into Apple event
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06:21 EDTAAPLSmartwatch market to reach $10B by 2018, says Citigroup
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06:07 EDTGPROGoPro implied volatility of 97 at upper end of index mean range
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