New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 17, 2014
16:13 EDTAA, HPQHP appoints Whitman Chairman, Alcoa's Kleinfeld joins board
HP (HPQ)announced that Meg Whitman, HP president and CEO, has been appointed chairman of the board of directors, and current director Pat Russo has been appointed lead independent director. Additionally, Klaus Kleinfeld, chief executive and chairman of Alcoa (AA), has been appointed to the board, bringing the total number of board members to 12. Whitman has been president and chief executive officer of HP since September 2011 and a member of the board since January 2011. Russo has been a director since 2011. She leads the HR and Compensation Committee and is a member of the Nominating, Governance and Social Responsibility Committee. "I'm extremely pleased that the board has elected Meg its chairman and Pat lead independent director," said Ralph Whitworth, departing chairman of HP's board. "Meg and Pat are unwavering in their commitment to the corporate governance, capital allocation and management incentive principles that drove our decisions these past three years. They will stick to and strengthen the critical practices and disciplines we've put in place. HP is in great hands." "Meg has been an outstanding leader since coming to HP, and we believe that as chairman she can most effectively drive the turnaround and continue to build value for our shareholders," said Gary Reiner, chairman of the Nominating, Governance and Social Responsibility Committee. Reiner added, "Throughout Pat's three years on the board, her deep operational and technology experience and her commitment to governance best practice have proved invaluable. She was the obvious choice to step in as lead independent director."
News For HPQ;AA From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
February 5, 2016
09:37 EDTAAActive equity options trading on open
Subscribe for More Information
February 4, 2016
09:36 EDTAAActive equity options trading on open: AAPL FB GPRO AA NFLX BAC TWC YHOO PG
Subscribe for More Information
February 3, 2016
11:33 EDTHPQCiti slashes PC outlook, expresses caution on related stocks
Citi significantly lowered its 2016 PC sales estimates, citing recent negative data points. In conjunction with the call, the firm lowered its estimates for three companies whose results are significantly affected by PC sales: HP Inc. (HPQ), Marvell (MRVL) and Intersil (ISIL). WHAT'S NEW: Citi analyst Jim Silva now expects PC sales to drop 6% this year, down from his previous estimate of a 2% decline. Recent data points indicate that demand for PCs has dropped significantly so far this year, while inventories are above normal, the analyst explained. Constrained budgets and macro concerns are restraining demand for PCs, Silva believes. Meanwhile, "there is not enough evidence" to conclude that the launch of Microsoft's (MSFT) Windows 10 will be a positive catalyst for PC sales this year, Silva said. Citing his view of PC trends, along with increased competition in the printer space, Silva lowered his 2016 EPS estimate for HP to $1.53 from $1.64. Statements by other printer makers, including Xerox (XRX) and Canon (CAJ), suggest that HP's margins on printers will "come under additional pressure," the analyst believes. He lowered his price target on the name to $10.75 from $14.50 and expects the stock to remain range-bound until analysts reduce their estimates further or its end markets improve. Intersil has 20% exposure to the PC market and the sales of its products related to computing are still strongly correlated with PC sales, Citi analyst Atif Malik stated. As a result, the company will face revenue headwinds throughout this year, stated the analyst. Malik, who expects the company's 2016 and 2017 EPS to come in below consensus levels, downgraded the stock to Sell from Neutral and set an $11.50 price target on the shares. Estimating Marvell's PC exposure at about 60%, Malik lowered his 2016 EPS estimate for the company to 42c from 48c and kept a Sell rating on the name. WHAT'S NOTABLE: Hedge fund Starboard Value disclosed this morning that it had bought a 6.7% activist stake in Marvell. The hedge fund said the shares are "undervalued" and The Wall Street Journal, citing sources familiar with the situation, said Starboard is betting the company can its boost margins by cutting costs, perhaps exiting its mobile device business. PRICE ACTION: In late morning trading, HP Inc. fell 3.3% to $9.55, Marvell rose 1.25% to $8.78 and Intersil dropped 4.4% to $11.93.
09:18 EDTHPQCitigroup to hold an analyst/industry conference call
Subscribe for More Information
07:41 EDTHPQCiti lowers 2016 PC estimates to down 6% from down 2%
Citi analyst Jim Suva says recent data points indicate above normal PC inventories and "materially below seasonal demand" in early 2016. The analyst cut his 2016 PC estimates to down 6% from down 2%, well below IDC's estimate of down 3%. Suva believes there is a lack of evidence to suggest that Microsoft's (MSFT) Windows' 10 launch will drive a PC refresh in 2016. The analyst cut his estimates and price target for HP Inc. (HPQ) and kept a Neutral rating on the name.
06:48 EDTHPQHP Inc. esimates and price target lowered at Citi
Subscribe for More Information
February 2, 2016
11:24 EDTAAStocks with call strike movement; AA COP
Subscribe for More Information
February 1, 2016
11:14 EDTAAStocks with call strike movement; NFLX AA
Netflix (NFLX) April 110 call option implied volatility increased 6% to 51, Alcoa (AA) April 8 call option implied volatility increased 4% to 50 according to iVolatility.
09:36 EDTAAActive equity options trading on open
Active equity options trading on open: BAC AAPL FB AMZN TWTR MGM MCD NFLX GILD INTC TSLA AA BABA C
09:04 EDTAAElliott Management: Alcoa 'taking the right steps'
Alcoa and affiliates of Elliott Management, which hold an economic interest in approximately 7.5% of Alcoa's common stock, have entered into an agreement that provides that Elliott will support the company's slate of director nominees at Alcoa's 2016 Annual Meeting of Shareholders.
09:03 EDTAAAlcoa names three new directors to board
Subscribe for More Information
09:02 EDTAAAlcoa to appoint 3 new directors to board; Elliott to support slate of nominees
Alcoa announced that it will appoint Ulrich "Rick" Schmidt, John C. Plant and Sean O. Mahoney to serve on the company's Board of Directors, effective February 5, 2016. These appointments will further strengthen the company and add valuable aerospace and automotive experience to the Board as Alcoa prepares to separate into two independent companies in the second half of 2016. With these appointments, the Alcoa Board will be expanded to consist of 15 directors. In connection with this announcement, Alcoa and affiliates of Elliott Management, which hold an economic interest in approximately 7.5% of Alcoa's common stock, have entered into an agreement that provides that Elliott will support the company's slate of director nominees at Alcoa's 2016 Annual Meeting of Shareholders. Mahoney will be included with the company's slate of director nominees for election at the Company's 2016 Annual Meeting of Shareholders and will be added to the class of directors whose term expires in 2016. Schmidt and Plant will be added to the class of directors whose terms expire in 2017 and 2018, respectively. Dave Miller, Senior Portfolio Manager at Elliott Management said, "We believe the Company is taking the right steps as it moves forward with its separation. This is a pivotal moment for Alcoa and represents an opportunity to create substantial value for shareholders. We are pleased to have worked constructively with Alcoa and believe that Rick, John and Sean bring relevant experience to the Alcoa Board and the future Value-Add Co." As previously announced, Alcoa plans to separate into two, publicly traded companies in the second half of 2016. The Upstream company will comprise five strong business units that today make up Global Primary Products: Bauxite, Alumina, Aluminum, Cast Products and Energy; the innovation and technology-driven Value-Add company will include the Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions businesses. As the Company prepares to implement the separation, the Board of Directors will work closely with Alcoa's management team in a comprehensive review of its portfolio, operations, profitability drivers and cost structure, and will update the market at the appropriate time.
January 28, 2016
15:18 EDTHPQXcel Brands collaborates with HP Inc. to create Isaac Mizrahi smartwatch
Subscribe for More Information
08:31 EDTAAAlcoa, Boeing agree on long-term supply deal
Subscribe for More Information
January 27, 2016
16:01 EDTAAOptions Update; January 28, 2016
iPath S&P 500 VIX Short-Term Futures up 1.02 to 26.01. Option volume leaders: AAPL FB BAC NFLX FCX BABA AA X VZ BA T
January 25, 2016
09:30 EDTAAElliott boosts activist stake in Alcoa to over 7%
Paul Singer's Elliott Associates boosted its activist stake in Alcoa to 7.4% from the 6.4% position the hedge fund reported on November 23. Elliott, in today's filing with the SEC, reiterated its belief that the spin-off transaction recently announced by Alcoa "will create value substantially above the current share price." The hedge fund seeks to "engage in a constructive dialogue" with the company's board and management regarding the transaction "as well as a number of other additional available opportunities to maximize shareholder value."

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use