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Stock Market & Financial Investment News

News Breaks
November 13, 2012
16:29 EDTHD, MSFT, MBI, BAC, GBX, AMD, TROX, AKSOn The Fly: Closing Wrap
Stocks on Wall Street were unable to rally after the major averages spent the majority of the day near their starting points. The U.S. reported its October federal budget at midday and the market met the data with a shrug. Dow member Cisco Systems (CSCO) is among those reporting earnings after today's close... ECONOMIC EVENTS: In the U.S., October's budget deficit grew to $120B from a $98.5B shortfall a month ago. Analysts forecast a $113B deficit for October. In Europe, euro-zone leaders failed to agree on the release of the latest round of aid for Greece, though the nation was granted a two-year extension by the EU to repay its current bailout loans... COMPANY NEWS: Home Depot (HD) reported better than expected earnings before the bell and outpaced all members of the Dow Jones Industrial Average, advancing $2.22, or 3.63%, to $63.38... Microsoft (MSFT) saw shares trade down 90c, or 3.22%, to $27.09 after the head of its Windows unit resigned, though Stifel Nicolaus suggested that the departure could help the company over the long term... Shares of MBIA (MBI) slipped $1.60, or 19.02%, to $6.81 after midday news broke that Bank of America (BAC) commenced a debt tender offer in a bid to stop MBIA from getting consent from bondholders to make certain changes to its bond covenants... MAJOR MOVERS: Among the notable gainers was Greenbrier (GBX), up $2.78, or 19.93%, to $16.73 after activist investor Carl Icahn reported a 9.99% stake in the company and called shares undervalued. Also higher were shares of Advanced Micro Devices (AMD), which spiked as high as $2.26 but closed up 10c, or 5.03%, at $2.09 after Reuters said the company has hired JPMorgan (JPM) to explore options potentially including the sale of patents or an outright sale of the company. Among the noteworthy losers was Tronox (TROX), down $3.54, or 18.91%, to $15.18 after the company reported Q3 earnings that missed consensus estimates, though the company's CEO said he sees sales increasing in 2013. Also lower were shares of AK Steel (AKS), down 96c, or 17.58%, to $4.50 after the company warned its Q4 losses are likely to be worse than analysts estimated... INDICES: The Dow lost 58.90, or 0.46%, to 12,756.18; the Nasdaq fell 20.37, or 0.70%, to 2,883.89; and the S&P 500 shed 5.50, or 0.40%, to 1,374.53.
News For HD;MSFT;MBI;BAC;GBX;AMD;TROX;AKS From The Last 14 Days
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August 18, 2014
08:04 EDTAMDSemiconductors sector downgraded to Cautious from Neutral at Goldman
Goldman downgraded the Semiconductors sector to Cautious given signs the cycle is turning based on expectations for a slowdown in semiconductor revenue growth, above trend semi unit shipments that should normalize, and stretching lead times. As a result, the analyst sees risk to Q4 estimates and sees further downside of 10%-25% for the SOX (SOX) and downgraded NXP Semiconductors (NXPI) to Sell from Neutral, InvenSense (INVN) to Neutral from Buy, and removed Maxim Integrated (MXIM) from the Conviction Buy List.
06:47 EDTBACU.S. banks consider Ireland fitting spot for EU divisions, FT says
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06:24 EDTHDOptions expected to be active
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August 15, 2014
10:07 EDTBACBank of America reports July default rate 3.01% vs. 3.24% last month
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10:01 EDTMBIOn The Fly: Analyst Upgrade Summary
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09:39 EDTMSFTNPD: Sony's PS4 beats out Xbox One in July, BGR reports
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09:10 EDTMBIOn The Fly: Pre-market Movers
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07:35 EDTMBIMBIA upgraded to Buy from Neutral at BTIG
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August 14, 2014
18:04 EDTMSFTInterDigital loses patent case against Nokia, ZTE, Bloomberg reports
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08:28 EDTBACBofA, DOJ still in talks over $17B settlement, NY Post says
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August 13, 2014
14:54 EDTMSFTEarnings Preview: Cisco reports following Deutsche upgrade, Pac Crest downgrade
Cisco Systems (CSCO) is scheduled to report fourth quarter results after the market close on Wednesday, August 13, with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 53c on revenue of $12.14B, according to First Call. The consensus range for EPS is 51c-54c on revenue of $11.8B-$12.25B. Along with its last quarterly report, Cisco guided to Q4 adjusted EPS of 51c-53c and said it expects its revenue to be down 1% to 3% in the quarter compared to the prior year. At that time, the company also said it sees its FY14 adjusted EPS to come in at the higher end of its previously communicated $1.95-$2.05 range. LAST QUARTER: On May 14, Cisco reported third quarter adjusted EPS of 51c, beating the consensus analyst forecast of 48c. It's revenue came in at $11.5B, topping the $11.38B consensus forecast. Cisco reported a Q3 adjusted gross margin of about 62.7%. NEWS: On June 17, Cisco announced its intent to acquire privately held Tail-f Systems, whose products help service providers and enterprise IT organizations easily and cost-effectively implement applications, network services and solutions across networking devices. Upon completion of the acquisition, which is expected to be complete in Q4, Tail-f employees will join Cisco's Cloud and Virtualization Group. About two weeks later, tech blog Gigaom reported that Cisco has acquired British firm Assemblage for technology that uses real-time collaboration that does not require the user to download programs or plug-ins. On July 15, Cisco announced a multi-year sales and go-to-market agreement with Microsoft (MSFT) designed to modernize data centers through the delivery and acceleration of integrated solutions. Cisco and Microsoft will both invest in sales, marketing and engineering resources to drive global alignment, while delivering deeper technology integration across cloud and data center markets, the companies stated. STREET RESEARCH: On May 21, Northland said that after speaking with Cisco's management and attending Cisco Live, the firm believed that the company is taking share form Arista Networks (ANET), which has since come public. The firm added that it did not believe that Juniper (JNPR) has gained traction in data center switching and it recommended Cisco as a cyclical recovery play and a relative bargain to peers. About a week later, Deutsche Bank upgraded its rating on Cisco shares to Buy from Hold, citing expectations that the company's new product ramps in FY15 and FY16 will be stronger than expected. Deutsche said then that it saw upside to consensus estimates and raised its price target for Cisco shares to $30 from $25. On July 28, Pacific Crest downgraded its rating on Cisco shares to Sector Perform from Outperform, citing valuation and concern that the company's margin expansion could moderate in 2015. The firm believes Cisco shares are fairly valued at $26. Less than a week ago, Morgan Stanley said its checks indicate the enterprise market is improving. The firm said it expects Cisco's outlook to be conservative and said concerns over rapid software-defined networking adoption and margin impact are overblown. Morgan Stanley has an Overweight rating with a $30 price target on Cisco. PRICE ACTION: In the last three months, Cisco has advanced about 9.5%. In afternoon trading ahead of tonight's report, Cisco shares are down 0.5% to $25.01.
August 12, 2014
13:19 EDTMSFTSony says 10M PS4 consoles have been sold since launch, TechCrunch reports
Sony has sold 10M units of the PlayStation 4 consoles to consumers since its launch last year, TechCrunch reports, citing comments made by Sony Computer Entertainment Europe CEO Jim Ryan at Gamescom 2014. Reference Link
09:35 EDTBACActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GOOG C TSL EXAS BAC DNDN JNJ TSLA
07:48 EDTBACBanks posted second-highest profit in 23 years in second quarter, WSJ says
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August 11, 2014
15:19 EDTMSFTMicrosoft schedules event likely focused on Lumia phones, WMPoweruser says
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14:48 EDTHDHome Depot August volatility elevated into Q2 and revenue outlook
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11:56 EDTAMDStocks with call strike movement; PBR AMD
Petrobras (PBR) November 19 call option implied volatility increased 4% to 54, AMD (AMD) January 4.5 call option implied volatility decreased 5% to 45 according to IVolatility.
06:35 EDTMSFTMicrosoft Devices unveils low-cost Nokia 130 phone
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06:18 EDTAMDAMD to release A68 chipsets in September, DigiTimes reports
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August 9, 2014
15:31 EDTAKSAK Steel applauds legislation bolstering the Highway Trust Fund
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