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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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December 21, 2014
13:53 EDTHPQHP denied court approval for Autonomy deal investor settlement, Bloomberg says
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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.
08:08 EDTPTCTPTC Therapeutics Translarna granted orphan designation in U.S., EU
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December 18, 2014
10:00 EDTGMEGameStop offers holiday deals on Call of Duty, Xbox One, Gamespot reports
GameStop announced yesterday a number of deals on games and hardware, including Activision's (ATVI) Call of Duty: Advanced Warfare being offered for $40 and a $50 gift card being offered with all new Xbox One (MSFT) purchases, reported video game blog Gamespot. Reference Link
06:35 EDTPTCTPTC Therapeutics initiated with a Buy at Citigroup
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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 15, 2014
11:31 EDTHPQHP, NYC Comptroller reach $10.6M settlement to resolve ECTP dispute
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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
12:02 EDTPTCTPTC Therapeutics Translarna granted orphan drug designation
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07:12 EDTHPQHP reinstated with a Buy at BofA/Merrill
Target $47.
05:38 EDTGMENovember NPD video game software sales fell 2%, says Piper Jaffray
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December 11, 2014
19:50 EDTGMENovember new video game sales up 14% from last year, Game Informer says
November sales of newly launched video games rose 14% from the same period last year, but overall software sales were down 2%, according to Game Informer, citing NPD data. Publicly traded companies in the space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO). Reference Link
06:01 EDTARUNAruba Networks management to meet with Northland
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December 10, 2014
08:25 EDTHPQHP capital return potential makes valuation attractive, says Brean Capital
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December 9, 2014
12:15 EDTPTCTPTC Therapeutics mentioned positively by dealReporter
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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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