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Stock Market & Financial Investment News

News Breaks
November 15, 2012
06:09 EDTGM, MSFT, GS, HON, COL, BA, VOD, VZOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Honeywell International (HON) and Rockwell Collins (COL) are expected to receive major contracts to supply systems to Boeing (BA) for its updated 737 Max jetliner, sources say, the Wall Street Journal reports...As retailers prepare for the traditional shopping day called Black Friday, they are focusing on the crowds that line up outside stores and increasingly on the masses that shop online from home. Sales growth during the busy Thanksgiving weekend more often comes from Internet shoppers, the Wall Street Journal reports...REUTERS: Vodafone Group (VOD) CEO Vittorio Colao said he could not rule out an exit from the U.S., a day after posting results showing the Verizon Wireless business there has become the main growth engine for the British company. Vodafone owns 45% of Verizon Wireless and Verizon Communications (VZ) owns the rest, Reuters reports...GM (GM) will soon exit one of its venture capital unit's investments, either through an IPO or the acquisition of that company by another, said the company's Chief Technology Officer Jon Lauckner. GM started its venture capital unit more than two years ago with a $200M budget to invest in start-up companies with promising auto-related technologies, Reuters reports...BLOOMBERG: Microsoft (MSFT) CEO Steve Ballmer said the company must exploit the opportunity to combine hardware and software as it challenges Apple’s (AAPL) iPad with the Surface tablet computer, Bloomberg reports...Asia’s bond market is facing a possible bubble after capital inflows surged this year, according to Goldman Sachs Asset Management Co. (GS), Bloomberg reports.
News For HON;COL;BA;VOD;VZ;GM;MSFT;GS From The Last 14 Days
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July 16, 2014
12:47 EDTMSFTYahoo falls after results disappoint, details additional plans for Alibaba stake
Shares of media and search engine company Yahoo (YHOO) are falling after the company's second quarter results fell short of analysts' consensus estimates. The company also said it will lower the amount of stock it will sell in Alibaba's initial public offering to 140M shares and that it plans to return "at least half" of its after-tax proceeds from the stake sale to its shareholders. WHAT'S NEW: Last night, Yahoo reported Q2 earnings per share of 37c and revenue ex-tac of $1.04B, narrowly missing analysts' consensus estimates of 38c and $1.08B, respectively. The company's Q2 display ad revenue fell 7% to $394M, while Q2 price per ad fell 24% versus last year. Q2 search revenue ex-tac increased 6% to $428M. Yahoo said that in Q2, the number of ads sold increased approximately 24% compared to last year, while the number of paid clicks increased approximately 3%. Price-per-click increased 15% compared to last year. Marissa Mayer, Yahoo's Chief Executive Officer, said that as the company's top priority is revenue growth, it is "not satisfied" with Q2 results. Mayer noted that several areas showed strength in the quarter, including Yahoo Search, which grew 6% year-over-year on a revenue ex-tac basis, but their growth was offset by declines. Meyer says the company needs to "work faster to ameliorate" negative trends in display. Mayer says the company "can and will do better" going forward. WHAT'S NOTABLE: Looking ahead, Yahoo forecast third quarter revenue ex-tac of $1.02B-$1.06B, below the consensus of $1.1B. The company also guided Q3 adjusted earnings before interest, taxes, depreciation and amortization, or EBTIDA, at $220M-$260M and non-GAAP operating income of $70M-$110M. Yahoo also noted that it will lower the number of shares it sells in the Alibaba IPO to 140M from 208M, and is committed to return at least half of the after-tax IPO proceeds to shareholders. Mayer noted on the company's earnings conference call that "A transformation of this size will take several years," adding that "it will take a little longer than originally forecasted." ANALYST REACTION: This morning, research firm CRT Capital downgraded Yahoo to Fair Value from Buy, citing mixed Q2 earnings and weak guidance. The firm sees pressure on ad pricing continuing for at at least two to three quarters. Another firm, Bernstein, lowered their price target on Yahoo to $40 from $43 following the company's weaker than expected results and said that it would return 50% of its proceeds from the Alibaba IPO to shareholders. The firm thinks there is an increased risk that Yahoo will use the other 50% on M&A, and Bernstein sees high risk that the M&A will destroy value. Bernstein kept an Outperform rating on the stock. Piper Jaffray said Yahoo should be owned ahead of the Alibaba IPO, noting its agreement with Alibaba to reduce the number of shares it will sell at the IPO should outweigh the "unsurprising" challenges in the company's core business. The firm, which kept an Overweight rating on the stock, expects the stock to react positively on the Q2 earnings report. PRICE ACTION: In early afternoon trading, Yahoo fell $1.66, or about 4.7%, to $33.95 on heavy trading volume. Despite today's pull back, the stock is up approximately 25% over the past 12 months. OTHERS TO WATCH: Yahoo peer AOL (AOL) is down over 4.% to $38.98. Jackie Reses, Yahoo's chief of mergers and acquisitions, said at the Fortune Brainstorm Tech Conference that the company is not planning to buy AOL, Re/code reported this morning. Mayer previously told a number of people that she does not "get" the merger.
12:42 EDTVZTime Warner said to see Verizon,Comcast, AT&T as logical bidders, Bloomberg says
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09:35 EDTBAChina's 9 Air places $3.7B CFM engine order
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09:09 EDTBAGeneral Electric-powered Boeing 777X commissioned by Qatar Airways
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09:03 EDTBAQatar Airways commits to additional 50 GE9X-powered Boeing 777x
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09:02 EDTGMGeneral Motors volatility low into testimony at Senate hearing
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08:10 EDTBABoeing, Airbus narrow engine choices in move toward efficient jets, WSJ says
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08:09 EDTMSFT21Vianet and GigaTrust sign partnership agreement in China
21Vianet (VNET) and GigaTrust, provider of Microsoft (MSFT)-based email and document protection software solutions for mobile devices, have signed an exclusive partnership agreement for the China market. 21Vianet will market and sell the portfolio of GigaTrust security products to enterprises and Office 365 cloud subscribers in China.
07:18 EDTVODVodafone head says unlikely interested in America Movil assets, Reuters says
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06:47 EDTBABoeing Qatar Airways finalize order for 50 777Xs
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06:40 EDTBABoeing, Hainan Airlines announce commitment for 50 737 MAX 8s
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06:31 EDTGMDocuments show GM hid defect from regulators, NY Times reports
Documents indicate that GM knew at least three fatal crashes were caused by its faulty ignition switches, but failed to tell regulators that when asked about the cause of the accidents, according to The New York Times. Reference Link
06:29 EDTGMSenators turn scrutiny towards GM General Counsel, WSJ reports
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06:24 EDTMSFTMicrosoft aims to reduce 1K jobs in Finland, Reuters says
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06:19 EDTGMFord, GM, Chrysler not interested in Tesla patents, Detroit News says
Ford (F), General Motors (GM), and Chrysler (FIATY) either have little interest in Tesla's (TSLA) EV patents or the companies are not sharing their plans, reports the Detroit News. Reference Link
06:14 EDTMSFTABI Research: More than 2B smartphones to ship in 2018, DigiTimes says
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06:10 EDTBABoeing, MG Aviation finalize order for two 787-9 Dreamliners
Boeing and MG Aviation finalized an order for two additional 787-9 Dreamliners, valued at $499M at current list prices. The order will support the leasing company's growing fleet of modern airplanes. MG Aviation previously placed an order for two 787-9s in 2006 and now has four unfilled 787-9s orders.
05:56 EDTBABoeing, Air Algerie announce order for two Next-Generation 737-700Cs
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05:54 EDTCOLCathay Pacific begins implementation of Rockwell Collins ARINC eEnabled solution
Rockwell Collins (COL) announced it has reached a major milestone in implementing a complete take-off-to-touchdown advanced information management solution as Cathay Pacific (CPCAY) begins operational evaluation of the company’s eEnabled Aircraft Solution on three 777-300ER aircraft. Rockwell Collins’ ARINC eEnabled Aircraft Solution allows for secure information management of flight operations, data communication services, cabin services, maintenance, diagnostics and vital safety information throughout flight, enhancing operational efficiencies and reducing costs. It improves accuracy of fueling requirements, provides potential for increased payload, and allows for automatic upgrades of installed and portable electronic flight bags.
05:50 EDTBABoeing rolls out 5,000th Next Generation 737
Boeing rolled out the 5,000th Next-Generation 737 this week. The airplane is a Boeing C-40A Clipper, a modified 737-700C, that will serve as a transport aircraft for the U.S. Navy. To date, orders stand at 6,804 for Next-Generation 737s and 2,109 for 737 MAXs. Total 737 orders have surpassed 12,000 including Classics and more than 100 orders for military derivatives.
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