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Stock Market & Financial Investment News

News Breaks
May 23, 2014
16:15 EDTHPQ, GME, PTCT, ARO, ARUNOn 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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July 15, 2014
11:35 EDTGMEGameStop management to meet with BB&T
Meetings to be held in New York July 22-23 hosted by BB&T.
08:09 EDTHPQRalph Whitworth taking leave of absence at Relational INvestors
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08:05 EDTHPQHP announces interim chairman Whitworth resigns for health reasons
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08:02 EDTHPQHP announces resignation of chairman Ralph Whitworth
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06:27 EDTHPQHP looks to crack tablet market in India with phablets, India Times reports
HP has aggressive plans to crack the tablet market in India by breaking into the phablet space, reports the India Times. The company's VP Ivy Liang said the company wants to "crack the right products in the phablet market" as it looks to expand its wings in the Indian market following the moderate success of HP Slate Voice Tabs. HP will now also explore telecom channels for the phablet go-to-market route. Reference Link
06:06 EDTHPQHP implied volatility of 21 at lower end of index mean range
July 14, 2014
11:21 EDTHPQHP added to short-term buy list at Deutsche Bank
10:00 EDTARUNOn The Fly: Analyst Upgrade Summary
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08:34 EDTHPQPC market stability could be short-lived, Reuters says
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08:05 EDTARUNAruba Networks upgraded to Outperform from Neutral at Macquarie
July 13, 2014
15:54 EDTGMEGameStop, TJX, Staples, three other retailers look cheap, Barron's says
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July 11, 2014
14:15 EDTARUNRuckus, Aruba advance after FCC approves new school WiFi program
Shares of Ruckus Wireless (RKUS) and Aruba Networks (ARUN) are rising after the FCC announced that it would allocate new funds to subsidize the launch of WiFi networks in schools and libraries. Ruckus and Aruba provide products used for WiFi networks. WHAT'S NEW: The FCC said it would allocate $2B over the next two years to subsidize the launch of WiFi connections at schools and libraries. For the following three years, the agency said it would look to spend $1B annually on the project. The FCC said the funds would be "distributed fairly to all schools and libraries while recognizing the needs of the nationís rural and poorest school districts." PRICE ACTION: In mid-afternoon trading, Ruckus surged 5.5% to $11.62 and Aruba advanced 4.6% to $17.04.
08:49 EDTHPQJune CIO survey indicates strong 2H, says Morgan Stanley
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06:33 EDTGMEGameStop CEO says retailer won't mess with creative direction, CNet reports
GameStop CEO Paul Raines said the company will not tamper with the creative direction, reports CNet. The company, however, is in the early stages of talking with game publishers about funding exclusive game content for customers. Reference Link
July 10, 2014
18:02 EDTHPQWells sees 'shrinking list' of strategic buyers for Rackspace
Wells Fargo sees a "shrinking list" of potential buyers for Rackspace (RAX), with only remaining HP (HPQ) and CenturyLink (CTL) remaining in its opinion. Wells believes Rackspace going private through a leveraged buyout is a possibility, but it thinks such an outcome is a lower probability given the required return assumptions and implied exit multiple. The firm believes the market has correctly assumed a high probability that Rackspace will not undergo a strategic event. However, Wells thinks the potential for a value creating event limits downside in the name. It keeps an Outperform rating on the stock.
11:18 EDTAROZumiez rallies after raising second quarter outlook
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09:13 EDTHPQHP Western Digital Seagate to benefit from PC rebound, says RBC Capital
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07:46 EDTHPQHP awarded computing, servers contract by USAF
HP announced that the United States Air Force, or USAF, has issued a Quantum Enterprise Buy, or QEB, procurement for select HP business PCs and Workstations. Products that will be distributed as part of the procurement include a wide array of business desktop and notebook PCs, including the HP Compaq Pro 6305 SFF, HP Z230 Workstation, HP Z820 Workstation, HP ProBook 640 G1 and the HP ZBook Mobile Workstations. Products acquired through this QEB award will be distributed to USAF bases and facilities around the world.
06:26 EDTHPQTablet quarterly shipments fall for first time to 56M on year, DigiTimes says
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06:18 EDTHPQIDC: PC shipments in mature regions stabilizes market in Q2, DigiTimes
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