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Stock Market & Financial Investment News

News Breaks
November 20, 2012
12:40 EDTHPQ, BBY, JPM, CS, GMCR, KO, KKD, CLF, PDCOOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday as a surprisingly large write-down, and associated charges of fraud, from Dow component Hewlett-Packard (HPQ) somewhat overshadowed better than expected U.S. housing data. Stocks began the day moderately lower, with the early weakness attributed to a downgrade of French sovereign debt. The averages found a level almost immediately from which they began paring their losses. The averages were mixed and sitting on either side of the flat line as Fed Chairman Bernanke gave a speech stating that the fiscal cliff has the potential to influence economic growth significantly, for better or worse, this coming year... ECONOMIC EVENTS: In the U.S., housing starts increased 3.6% in October from the prior month, to an annual rate of 894K, versus expectations for a decline of 3.7%. Building permits declined 2.7%, to an 866K annual rate, versus expectations for a decline of 2.9%. In Europe, Moody's downgraded France's government bond rating to Aa1 from Aaa... COMPANY NEWS: Hewlett-Packard shares plunged 11% to a 10-year low after the company recorded a $8.8B write-down "linked to serious accounting improprieties, disclosure failures and outright misrepresentations” related to its purchase of U.K. software company Autonomy. Almost lost in the scandal were H-P's results, as its quarterly earnings beat expectations but its view for profit next quarter trailed Street estimates... Best Buy's (BBY) earnings fell short of lowered expectations, its same store sales declined 4.3% and the company lowered its free cash flow view by almost a half a billion dollars, sending shares down 12%... In the financial sector, JPMorgan (JPM) announced a new Chief Financial Officer and Credit Suisse (CS) said it will combine its asset management unit with its private bank resulting in a simplified corporate structure with only two arms... MAJOR MOVERS: Among the notable gainers was Green Mountain Coffee Roasters (GMCR), which rose 6% after it named former Coca-Cola (KO) executive Brian Kelley as its new CEO. Also higher were shares of Krispy Kreme (KKD), up 22% after its Q3 results topped expectations. Among the noteworthy losers were Cliffs Natural Resources (CLF), down 9% following a downgrade to Sell at Goldman, and Patterson Companies (PDCO), down 7% after the company lowered its FY13 EPS view... INDICES: Near 12:30 pm ET, the Dow was up 2.42, or 0.02%, to 12,798.38; the Nasdaq was down 3.44, or 0.12%, to 2,912.63; and the S&P 500 was down 0.33, or 0.02%, to 1,386.56.
News For HPQ;BBY;JPM;CS;GMCR;KO;KKD;CLF;PDCO From The Last 14 Days
Check below for free stories on HPQ;BBY;JPM;CS;GMCR;KO;KKD;CLF;PDCO the last two weeks.
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August 20, 2014
18:29 EDTJPMBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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18:00 EDTHPQHP says delivered YoY revenue growth for first time in three years in Q3
Says product line up is strongest in years with innovation "alive and well." Says product portfolio shifting to SaaS. Says the company is more nimble and better prepared than ever to respond to business conditions. Says can continue to gain market share in PC's. Expects to exit FY14 with $9B in cash flow and will resume share repurchases in Q4. Says M&A will be part of the future, but would prefer to grow organically. Comments from company's Q3 earnings conference call.
17:12 EDTHPQOn The Fly: Closing Wrap
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16:07 EDTHPQHP CEO Whitman says 'very pleased with progress'
"Overall, I'm very pleased with the progress we've made," said Meg Whitman, chairman, president and CEO, HP. "When I look at the way the business is performing, the pipeline of innovation and the daily feedback that I receive from our customers and partners, my confidence in the turnaround grows stronger."
16:07 EDTHPQHP reports Q3 Personal Systems revenue up 12% YoY
Personal Systems revenue was up 12% year over year with a 4.0% operating margin Commercial revenue increased 14% and Consumer revenue increased 8%. Total units were up 13% with Desktops units up 9% and Notebooks units up 18%. Printing revenue was down 4% year over year with an 18.4% operating margin. Total hardware units were down 5% with Commercial hardware units down 2% and Consumer hardware units down 6%. Supplies revenue was down 5%. Enterprise Group revenue was up 2% year over year with a 14.0% operating margin. Industry Standard Servers revenue was up 9%, Storage revenue was down 4%, Business Critical Systems revenue was down 18%, Networking revenue was up 4% and Technology Services revenue was down 3%. Enterprise Services revenue was down 6% year over year with a 4.1% operating margin. Application and Business Services revenue was down 4% and Infrastructure Technology Outsourcing revenue declined 8%. Software revenue was down 5% year over year with a 21.2% operating margin. License revenue was down 16%, support revenue was flat, professional services revenue was down 3% and software-as-a-service revenue was up 8%. HP Financial Services revenue was down 3% year over year with a 1% increase in net portfolio assets and a 14% increase in financing volume. The business delivered an operating margin of 9.2%.
16:05 EDTHPQHP sees FY14 adjusted EPS $3.70-$3.74, consensus $3.72
16:05 EDTHPQHP sees Q4 adjusted EPS $1.03-$1.07, consensus $1.05
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16:04 EDTHPQHP reports Q3 adjusted EPS 89c, consensus 89c
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16:01 EDTHPQOptions Update; August 20, 2014
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15:56 EDTHPQHewlett-Packard August weekly 35 straddle priced for 4.3% move into Q3
15:26 EDTPDCONotable companies reporting before tomorrow's open
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15:26 EDTHPQNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Hewlett-Packard (HPQ), consensus 89c; L Brands (LB), consensus 62c; Synopsys (SNPS), consensus 60c; CACI International (CACI), consensus $1.43; Semtech (SMTC), consensus 39c; Popeyes Louisiana Kitchen (PLKI), consensus 39c; America's Car-Mart (CRMT), consensus 60c.
13:42 EDTHPQEarnings Preview: Analysts view HP positively ahead of Q3 earnings report
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11:54 EDTHPQHP technical comments before earnings
In the prior three months the shares have outperformed the broader averages, rising by more than 8%. The trend has had a decidedly bullish slant, with $36 at the high and $33 at the low. These bounds give us some guidance as to how price might behave depending on earnings and guidance. A breakout above $36 and notably the 52-week high at $36.21, would appear very probable if the news is better than already high expectations. Next major resistance would be at $38, a level not seen since early 2011. An extreme upside reaction could push the stock to $40.34. Given the strong bullish sentiment in the name, the risk may be more to the downside on a disappointment. The key level to watch on the downside if news or guidance is worse than expected is at the 50-day moving average, last at $34.57. A breakdown below the 50-day would break the intermediate-term uptrend and that would have bearish implications for future price. The $33 level would become the next important zone following such a break. A snap below $33 on an extreme disappointment would see $31.48 as next support.
08:59 EDTHPQHewlett-Packard weekly volatility increases into Q3 and outlook
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08:49 EDTHPQHP shares have dropped in August over past four years, Re/code reports
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August 19, 2014
11:05 EDTHPQImperva seen as takeover candidate under new CEO
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09:01 EDTGMCRKeurig Green Mountain estimates raised at SunTrust
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08:59 EDTHPQHewlett-Packard volatility increases into Q3 and outlook
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08:42 EDTHPQImperva new CEO has history of selling companies, says Sterne Agee
After Imperva (IMPV) appointed Anthony Bettencourt as its new CEO, Sterne Agee says that he has a history of selling companies. The firm believes that Imperva "would likely be an acquisition candidate" for a number of large tech companies such as Cisco (CSC), Juniper (JNPR), HP (HPQ), IBM (IBM), Check Point (CHKP), or F5 (FFIV). Sterne Agee believes that Imperva could be acquired for as much as $45 per share, and it keeps a Buy rating on the stock.
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