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Stock Market & Financial Investment News

News For BRCM;GILD;GE;BA;DVAX;CSCO;WPRT;CELG;DKS;CLNE;EXEL;HD;SODA;O;SAND;QCOM From The Last 14 Days
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February 13, 2015
08:19 EDTGILD, CELGAckman noncommittal on McDonald's rumors, Bloomberg reports
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05:45 EDTQCOMStocks with implied volatility below IV index mean; MSFT QCOM
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05:38 EDTCELGCelgene volatility increases on wide price movement
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February 12, 2015
16:57 EDTCSCOOn The Fly: Closing Wrap
Stocks on Wall Street began the session in positive territory, thanks in part to the ceasefire brokered between Russia and Ukraine as well as the ongoing debt discussions between Greece and Eurozone leaders. Another contributor may have been oil prices, which continues to rally from their low point of a couple of weeks ago. The move in stocks was broad based, though the tech-heavy Nasdaq led the way with a gain of about 1%. ECONOMIC EVENTS: In the U.S., retail sales decreased 0.8% in January, versus expectations for a 0.4% decline. When autos and gas components are removed, the core reading was up 0.2%, versus expectations for an increase of 0.4%. Initial jobless claims rose 25K to 304K in the week ended January 7, versus expectations for 287K first-time claims. Business inventories edged up 0.1% in December, versus expectations for them to grow 0.2%. In Europe, Russian, Ukrainian, German and French leaders came to terms on a cease-fire to begin Sunday. In Greece, yesterday's Eurogroup meeting failed to reach a final bailout deal, but reports afterward seemed to have an optimistic tone about the continuation of talks. Sweden’s Riksbank became the latest central bank to cut interest rates and said it would undertake a program of sovereign bond buying. COMPANY NEWS: Shares of American Express (AXP) dropped $5.53, or 6.43%, to $80.48 after the company announced that its U.S. co-brand and merchant acceptance agreements with Costco (COST) are set to end in March of next year. Costco has been one of the few big U.S. merchants that to-date had accepted AmEx cards exclusively. American Express CEO Ken Chenault said in a call about the news that the company now expects that overall earnings growth in 2015 will likely be "flat to down modestly" year-over-year... Expedia (EXPE) rose $11.35, or 14.51%, to $89.57 after it agreed to acquire rival Orbitz Worldwide (OWW) for $12 per share. Orbitz shares surged $2.10, or 21.83%, to $11.72 after the deal was announced, while Priceline (PCLN), which be the last big global online travel agency left standing next to Expedia if the deal is approved, advanced $31.89, or 3.01%, to $1,091.95. MAJOR MOVERS: Among the notable gainers was TripAdvisor (TRIP), which rose $15.13, or 22.49%, to $82.40 amid the big deal in its industry and after its own fourth quarter revenue beat analysts' expectations. Also higher after its quarterly report was networking products giant Cisco Systems (CSCO), which rallied $2.53, or 9.39%, to $29.46. Among the noteworthy losers following their earnings reports were NetApp (NTAP), which fell $2.90, or 7.28%, to $36.90, and Kellogg (K), which dropped $3.00, or 4.52%, to $63.30. Also lower were shares of Tesla Motors (TSLA), which declined $9.92, or 4.66%, to $202.88 after the electric car maker unexpectedly reported losses for its fourth quarter, delivered fewer vehicles than expected and guided toward a significant increase in spending for the coming year. INDEXES: The Dow rose 110.24, or 0.62%, to 17,972.38, the Nasdaq gained 56.43, or 1.18%, to 4,857.61, and the S&P 500 advanced 19.95, or 0.96%, to 2,088.48.
12:28 EDTGILDBridgewater Associates cut Apple stake in half last quarter
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11:49 EDTCSCOCisco hits 52-week high after Q2 results beat expectations, dividend raised 11%
Shares of networking products company Cisco Systems (CSCO) are rallying after the company's second quarter results surpassed analysts' consensus estimates. WHAT'S NEW: Last night, Cisco reported Q2 adjusted earnings per share of 53c and revenue of $11.94B, topping analysts’ consensus estimates of 51c and $11.8B, respectively. Cash flows from operations were $2.9B in Q2 versus $2.5B in the prior quarter. The company repurchased about 44M shares of stock in the quarter at an average price of $27.63 per share. John Chambers, Cisco's chairman and Chief Executive Officer, said the company grew revenues 7% and delivered strong EPS growth despite a volatile economic environment. WHAT’S NOTABLE: Looking ahead to the third quarter, Cisco forecast EPS of 51c-53c and revenue growth of 3%-5%, compared to analysts' consensus estimates of of 52c and $12.01B, respectively. On the earnings conference call, Chambers said it is "too early to call a turn" in emerging markets. In addition to the better than expected quarterly earnings, Cisco raised its quarterly dividend 11% to 21c from 19c per share. Chief Financial Officer Kelly Kramer said the company is committed to returning at least 50% of its free cash flow annually. ANALYST REACTION: Research firm Piper Jaffray said this morning that it sees little downside risk in Cisco shares and believes Cisco is benefiting from a switching upgrade cycle that should sustain throughout 2015. The firm kept an Overweight rating on the stock with a $33 price target. Conversely, Citigroup said that despite the improving demand seen in Q2, Cisco shares remain fully priced at current levels. Citi continues to view Cisco as a "very low" single-digit grower with no upside to operating margin and tough comps ahead. The firm raised its price target for shares to $25 from $22, but kept a Sell rating on the name. PRICE ACTION: In late morning trading, Cisco rose $2.32 or 8.61% to $29.25 on nearly twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $29.58. Including today's advance, the shares have gained approximately 27% over the past 12 months. OTHERS TO WATCH: Cisco’s main competitor in the networking space, Juniper Networks (JNPR), is up 1.5%.
10:39 EDTWPRTOptions with increasing implied volatility
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09:36 EDTGILDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TSLA WFM BIDU TWTR GILD FB AMAT EXPE TRIP
09:22 EDTCSCOOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tripadvisor (TRIP), up 13.5%... Cisco Systems (CSCO), up 7.2%... FireEye (FEYE), up 7.7%... GNC (GNC), up 4.8%... NVIDIA (NVDA), up 5.5%... Whole Foods (WFM), up 2.5%. ALSO HIGHER: Orbitz Worldwide (OWW), up 21.6% after agreeing to be acquired by Expedia (EXPE). Expedia is up 11%... Ballard Power (BLDP), up 8.1% after being upgraded to Buy from Hold at Lake Street... Verastem (VSTM), up 4.7% after receiving orphan drug designation from FDA VS-5584 in mesothelioma. DOWN AFTER EARNINGS: Zulily (ZU), down 25.4%... Cabelas (CAB), down 9%... Cheesecake Factory (CAKE), down 5.9%.... Baidu (BIDU), down 4.8%... NetApp (NTAP), down 6.5%... Avon Products (AVP), down 3.6%... Tesla (TSLA), down 8.9%... Kellogg (K), down 5.1%... Amber Road (AMBR), down 16%. ALSO LOWER: Achillion Pharmaceuticals (ACHN), down 4.5% after 12M share Secondary priced at $10.25.
08:33 EDTBABoeing and Transavia announce order for up to 20 next-generation 737-800s
Boeing (BA) and Transavia Company, a wholly owned subsidiary of the Air France KLM (AFLYY), announced an order for 17 Next-Generation 737-800s, including options for three additional airplanes. The order, valued at $1.6B at current list prices, was previously booked and attributed to an unidentified customer on the Boeing Orders & Deliveries website. The order will significantly support the growth of Transavia's operations from France and the Netherlands. The airline currently has a combined all-Boeing fleet of 45 Next-Generation 737s.
07:28 EDTBABoeing not looking to bring back 757 with new engines, Reuters says
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07:27 EDTCSCOCisco price target raised to $34, remains a top pick at SunTrust
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07:26 EDTCLNEIBF Conferences to hold a summit
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06:59 EDTBABoeing to send more work to plant in South Carolina, Reuters says
Boeing's new Propulsion South Carolina plant will receive more work from the company than originally announced. The plant will work on 737 MAX engine coverings as well as designing engine parts for the 777X, reports Reuters. Reference Link
06:30 EDTQCOMQualcomm under investigation by South Korean competition authorities, FT reports
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06:29 EDTCSCOFacebook designing own network equipment, WSJ says
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06:18 EDTCSCOCisco shares remain fully priced, says Citigroup
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06:03 EDTCSCOCisco shares have little downside risk, says Piper Jaffray
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05:55 EDTQCOMStocks with implied volatility below IV index mean; MSFT QCOM
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05:42 EDTBABoeing and Korean Air announce order for five 777 freighters
Boeing and Korean Air finalized an order for five 777 Freighters. The order, valued at more than $1.5B at current list prices, will add further efficiency and reliability to Korean Air's all-Boeing freighter fleet. Korean Air currently operates an all-Boeing freighter fleet of 26 airplanes that includes 17 747-400 Freighters, five 747-8 Freighters and four 777 Freighters.
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