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Stock Market & Financial Investment News

News Breaks
February 22, 2013
12:18 EDTMMSI, WBMD, FIRE, AIG, FRO, ARUN, HPQOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, bouncing back from two down days fueled by worries that the Fed may pull back on its easing actions sooner than expected. European markets were helped by a better than expected German business confidence survey, despite some other downbeat data and forecasts, and U.S. markets followed their lead. Also helping the Dow was better than expected earnings from two of its members... ECONOMIC EVENTS: In the U.S., no market moving economic data was reported. In Germany, Federal Statistics Office data confirmed an earlier flash estimate that the nation's GDP shrank 0.6% from the prior quarter in the last three months of 2012. However, the Ifo Institute business confidence reading rose to 107.4 from 104.2 in January, beating expectations for a 105.0 February figure. Also in Europe, the European Commission lowered it forecast for gross domestic product in the 17-nation region, estimating now that GDP will fall 0.3% this year. The EC predicted in November that the region's economy would grow 0.1% in 2013... COMPANY NEWS: Hewlett-Packard (HPQ) surged 9% higher and led the Dow Jones Industrial Average after its Q1 results topped estimates on both the top and bottom lines. HP's earnings guidance for the current quarter was also better than expected. Also reporting better than expected results, and seeing its shares rise, was fellow Dow component American International Group (AIG). The insurer's operating earnings were better than forecast and its stock advanced over 2%... MAJOR MOVERS: Among the other notable gainers following their earnings reports were WebMD (WBMD), up 24%, Aruba Networks (ARUN), up 21% and Sourcefire (FIRE), up 14%. Among the noteworthy losers was Merit Medical (MMSI), which fell 19% and was downgraded at Raymond James following its quarterly report. Also lower were shares of Frontline (FRO), which declined nearly 14% after the company provided preliminary Q4 earnings, said it expects the following quarter's operating results to be lower and announced it will will not pay a dividend for Q4... INDICES: Near noon, the Dow was up 69.34, or 0.50%, to 13,949.96; the Nasdaq was up 17.80, or 0.57%, to 3,149.29; and the S&P 500 was up 7.59, or 0.51%, to 1,510.01.
News For HPQ;AIG;WBMD;ARUN;FIRE;MMSI;FRO From The Last 14 Days
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December 19, 2014
18:54 EDTHPQHP, Autonomy shareholder settlement rejected by Judge, Bloomberg says
This is the second time the settlement was rejected, Bloomberg added.
December 17, 2014
10:14 EDTHPQHP best way to play coming PC sales outperformance, Citi says
Sales of PCs will be at least flat next year, before growing slightly in 2016 and 2017, Citigroup wrote in a note to investors today. The firm identified HP (HPQ) as the best way to play better than expected PC sales. WHAT'S NEW: Although many believe that PCs will become extinct, there are several reasons why sales of personal computers will begin growing again, Citi analyst Jim Suva contended. Sales of commercial PCs in emerging markets should increase over the long-term, as those PCs are aging, according to Suva. He estimated that commercial PCs in emerging markets account for 27% of the total PC market. Meanwhile, tablets were supposed to replace PCs, but tablet sales growth slowed to just 8% this year, indicating that tablets are becoming less of a threat to PCs, he wrote. Additionally, some believe that PC demand was inflated by a rush to replace computers running Microsoft's (MSFT) Windows XP operating system this year after the company stopped supporting XP, but Suva believe that PC demand growth in 2014 was more driven by a need to buy new computers following a lull in growth in 2012-2013 than by the XP situation. As a result, the analyst estimates that the XP phenomenon will only reduce next year's PC growth by 1%, versus the 3%+ reduction that investors fear. HP is the best way to play the PC rebound, wrote Suva, who raised his price target on the company's shares to $46 from $40 and kept a Buy rating on the stock. WHAT'S NOTABLE: Suva raised his price target on hard disk drive maker Western Digital (WDX) to $125 from $110 and on its competitor, Seagate (STX), to $74 from $70, as he noted that the companies obtain about 50% of their revenue from PCs. He kept Buy ratings on both names. PRICE ACTION: In early trading, Hewlett-Packard gained 2.7% to $38.32, Western Digital rose 1.7% to $106.30, and Seagate climbed 1% to $63.89.
06:20 EDTHPQHP price target raised to $46 from $40 at Citigroup
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December 16, 2014
10:36 EDTFROFrontline announces debt-for equity exchange
Earlier today, Frontline announced that it has entered into a private agreement to exchange $22,500,000 of the outstanding principal amount of the Company's 4.5% Convertible Bond Issue 2010/2015 for an aggregate of 3,984,375 shares at an exchange price of $3.12 per share, and a cash payment of $9,562,500 plus accrued interest. In addition, under the exchange agreement, Frontline has agreed to issue, on December 23, up to an additional 760,377 shares to the holders of the Bonds based on an agreed formula if the 5-day volume-weighted average price, VWAP, of the Company's shares, for the period ending December 22, 2014, is lower than the exchange price, subject to a minimum VWAP price of $2.62 per share. Shares of Frontline are lower by almost 18% to $2.36 in morning trading.
December 15, 2014
11:31 EDTHPQHP, NYC Comptroller reach $10.6M settlement to resolve ECTP dispute
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10:10 EDTFROHigh option volume stocks:
High option volume stocks: RVBD AGCO FRO CRUS UBNT LH PAY PETM OREX KOS
10:05 EDTHPQHP participates in a conference call with Oppenheimer
Oppenheimer hosts Antonio Neri, Senior Vice President & General Manager-Enterprise Group, who discusses HP convergence, servers and networking on a conference call to be held on December 15 at 11 am.
December 12, 2014
08:09 EDTAIGBofA/Merrill financial analysts hold an analyst/industry conference call
Banks Analyst Najarian, along with Capital Markets Analyst Carrier, Specialty Finance Analyst Bruce discuss the year ahead in Financials, covering the Banks, Capital Markets, Life and P/C Insurance, REIT, Specialty Finance and Canadian Banks/Life Insurance sectors on an Analyst/Industry conference call to be held on December 16 at 10 am.
07:12 EDTHPQHP reinstated with a Buy at BofA/Merrill
Target $47.
December 11, 2014
06:01 EDTARUNAruba Networks management to meet with Northland
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December 10, 2014
09:33 EDTMMSIMerit Medical announces multiple regulatory approvals
Merit Medical announced that it has received 501k clearance for three products: the ReSolve Biliary Locking Drainage Catheter, the ONE Snare Endovascular Microsnare System and the AEROmini Tracheobronchial Stent System.
08:25 EDTHPQHP capital return potential makes valuation attractive, says Brean Capital
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December 8, 2014
08:02 EDTARUNAruba says NHS replaces Cisco network with Aruba wireless infrastructure
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07:28 EDTHPQFBN Securities to hold a bus tour
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December 7, 2014
15:53 EDTHPQHP shares could gain 15%, Barron's says
HP shares could gain 15% to $45.00 per share as the company splits its enterprise business from PCs and printer business, by next October, Barron's argues in a follow up article. Reference Link

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