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Stock Market & Financial Investment News

News Breaks
May 23, 2014
16:15 EDTARO, HPQ, PTCT, ARUN, GMEOn The Fly: Closing Wrap
Stocks on Wall Street opened in quiet fashion, though with an upward bias, and proceeded to trade that way throughout the session. The averages drifted higher in a broad based move that saw each of the major averages tack on gains of at least 0.3%. The volume was light, as was to be expected prior to a holiday weekend, and there was little volatility as the market moved in a narrow range once it found its level. Ending the week on a high note, the benchmark S&P 500 managed to close above 1,900 for the first time. ECONOMIC EVENTS: In the U.S., new home sales rose 6.4% in April to a rate of 433K. The percentage increase trailed expectations, but the rate was higher than expected due to upward revisions to last months figures. COMPANY NEWS: Shares of Hewlett-Packard (HPQ) rose $2.00, or 6.1%, to $33.72 after the computer and printer making giant reported second quarter adjusted earnings per share that matched estimates and announced additional job cuts. Following the report, Citigroup said it sees "meaningful upside" to the stock and believes HP's cost savings are underappreciated. After HP's report of roughly in-line results and more layoffs, Wells Fargo noted that HP said it was more confident in its growth outlook. The firm thinks the layoffs may reflect newly discovered cost cutting opportunities, rather than end market pressures, and kept an Outperform rating on the shares. MAJOR MOVERS: Among the notable gainers was PTC Therapeutics (PTCT), which surged $4.71, or 30.74%, to $20.03 after the Committee for Medicinal Products for Human Use of the European Medicines Agency adopted a positive opinion regarding the company's application for a conditional marketing authorization of Translarna for the treatment of nonsense mutation Duchenne muscular dystrophy. Also higher was video game retailer GameStop (GME), which rose $1.55, or 4.2%, to $38.43 after the company reported better than expected first quarter profits and backed its fiscal 2014 guidance. Among the noteworthy losers following their earnings reports were apparel retailer Aeropostale (ARO), which fell $1.09, or 24.12%, to $3.43, and network solutions provider Aruba Networks (ARUN), which slid $2.17, or 10.82%, to $17.89. INDEXES: The Dow was up 63.19, or 0.38%, to 16,606.27, the Nasdaq was up 31.47, or 0.76%, to 4,185.81, and the S&P 500 was up 8.04, or 0.42%, to 1,900.53.
News For HPQ;GME;PTCT;ARO;ARUN From The Last 14 Days
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May 21, 2015
14:10 EDTHPQHP May 34 straddle priced for 5.2% movement
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12:49 EDTHPQOn The Fly: Top stock stories at midday
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10:59 EDTHPQHP options active on selling 51% of China unit and into Q2
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08:11 EDTHPQHP to sell 51% of China unit for $2.3B
HP and Tsinghua Holdings jointly announced a partnership that will bring together Chinese enterprise technology assets of Hewlett-Packard and China's prestigious Tsinghua University to create the leading Chinese provider of technology infrastructure. Under the definitive agreement, Tsinghua Holdings subsidiary, Unisplendour Corporation, will purchase a 51% stake in a new business called H3C, comprising H3C Technologies and HP's China-based server, storage and technology services businesses, for approximately $2.3B, valuing the total business at $4.5B.
08:06 EDTHPQHP announces partnership with Tsinghua Holdings
HP and Tsinghua Holdings jointly announced a partnership that will bring together Chinese enterprise technology assets of Hewlett-Packard and China's prestigious Tsinghua University to create the leading Chinese provider of technology infrastructure. Under the definitive agreement, Tsinghua Holdings subsidiary, Unisplendour Corporation, will purchase a 51% stake in a new business called H3C, comprising H3C Technologies and HP's China-based server, storage and technology services businesses, for approximately $2.3B, valuing the total business at $4.5B. Combining these two entities, the new H3C will be a technology powerhouse in China with a market-leading portfolio that will be #1 in networking and a leader in servers, storage and technology services.
06:06 EDTHPQHP to sell stake in Chinese data-networking operation, WSJ reports
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May 20, 2015
08:45 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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May 19, 2015
12:55 EDTHPQPC related stocks struggle after Morgan Stanley says PC turn won't come until Q3
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06:36 EDTHPQHP sued by MicroTech for $16.5M for 'unfairly taking advantage'
In a lawsuit filed Monday with the United States District Court for the Northern District of California in San Francisco, Virginia technology company MicroTech accuses Hewlett Packard and the software maker it now owns, Autonomy, of unfairly taking advantage by refusing to return $16.5M in cash paid to Autonomy for software never delivered in a fashion where it could be re-sold. During a national telephonic press conference, Lanny J. Davis, a Washington, D.C. attorney advising MicroTech, described the core allegation in the breach of contract case filed against HP: "Regardless of whether HP was defrauded by Autonomy, or whether HP's over-payment for Autonomy was a product of a possible due diligence failure, in my opinion, HP is not entitled to keep both MicroTech's money AND Autonomy's software that MicroTech duly purchased," Davis said.
06:24 EDTHPQHP to sell controlling stake in H3C unit to Tsinghua Unigroup, Reuters reports
HP will sell its 51% stake in H3C, its China-based computing unit, to Tsinghua Unigroup, Reuters reports, citing comments from a spokesperson for the Chinese private-equity fund's parent company. Terms have not been disclosed, but the spokesperson says he believes the deal will be completed in the coming days. Reference Link
May 18, 2015
14:15 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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May 15, 2015
14:43 EDTGMEGameStop May weekly volatility elevated into Q1 and outlook
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11:00 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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07:40 EDTHPQHP split to be positive catalyst, says Deutsche Bank
Deutsche Bank believes HP's split will be a positive catalyst for shares this year. It views the stock as attractively priced ahead of the Q2 results on May 21 and says HP remains a top pick for 2015. Deutsche has a Buy rating on the name with a $45 price target.
05:52 EDTGMEApril NPD video game software sales rose 13%, says Piper Jaffray
Piper Jaffray notes April NPD video game software sales increased 13% year-over-year with next-generation software revenue up 200% versus the prior year. Piper keeps Overweight ratings on Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO).
May 14, 2015
09:40 EDTHPQHP upgraded to Buy from Hold at Cross Research
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06:15 EDTHPQHP Q2 sales weakness largely expected, says Citigroup
Citigroup believes HP's Q2 revenue on May 21 could miss the consensus expectation of $25.8B due to PC weakness and currency pressure. Citi thinks sales weakness is largely expected, however. The firm says HP shares "will start to work again" as management will likely address and quantify the additional costs of operating as two separate companies. Uncertainty around the size of the dis-synergy costs has been a key factor behind the stock's recent underperformance, Citi believes. It keeps a Buy rating on HP with a $41 price target.
May 13, 2015
12:43 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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May 11, 2015
07:50 EDTHPQHP awarded IT services contract by California WCDS
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May 10, 2015
13:48 EDTHPQ3D Systems stock may tumble another 30%, Barron's says
Shares of 3D Systems (DDD) could lose another 30% as the company faces development delays, low demand, and the entry of Hewlett-Packard (HPQ) into the market by 2016, Barron's contends in its "Follow Up" column. Barron's maintains its price forecast of $15. Reference Link
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