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Stock Market & Financial Investment News

News Breaks
May 23, 2014
11:07 EDTHPQ, IBM, LNVGY, AAPL, MSFTHP rallies after announcing additional job cuts, positive analyst commentary
Shares of diversified technology company Hewlett-Packard (HPQ) are advancing after the company announced additional job cuts, and received positive analyst commentary. WHAT'S NEW: Last night, Hewlett-Packard reported second quarter adjusted earnings per share of 88c and revenue of $27.3B, against consensus views of 88c and $27.4B, respectively. Q2 cash flow from operations was $3.0B. The company forecast Q3 adjusted EPS of 86c-90c, versus consensus of 89c. For FY14, adjusted EPS was seen at $3.63-$3.75, compared to consensus of $3.71. WHAT’S NOTABLE: Hewlett-Packard announced it would add 11,000-16,000 employees to its workforce reduction plan. Established in 2012, the restructuring effort originally called for 34,000 lay-offs. 41,000 total employees are slated to leave by the end of FY14, with the remainder departing by the end of FY15. The job cuts will be made across almost all of the company's business units and across all geographies. CEO Meg Whitman said she was, "not at all disappointed," and that it was, "the natural course of what makes sense in a turnaround of this size and scale." She does not anticipate additional job cuts when this program is finished. ANALYST REACTION: This morning, analyst commentary was positive. Deutsche Bank recommended using any weakness in shares of HP following the company's Q2 results and additional job cuts announcement as a buying opportunity. The firm believed HP is seeing demand stabilization and that the job cuts will drive improved operational efficiencies. Deutsche kept a Buy rating on HP with a $40 price target. Citigroup believed HP's cost savings will drive further upside to its earnings outlook. The firm sees "meaningful upside" to the stock and believes HP's cost savings are underappreciated. Citi kept a Buy rating on the name with a $40 price target. Morgan Stanley said HP's additional restructuring addressed weaker Enterprise Services results and provides additional investment. The firm's FY15 EPS of $4.05 vs. consensus of $3.85 assumes a strong Q4 and a margin rebound in Enterprise Services. Shares were Overweight rated with a $36 price target. PRICE ACTION: In late morning trading, Hewlett-Packard rose $1.97, or about 6.2%, to $33.75 on heavy trading volume. Including today’s advance, the stock has gained over 35% over the past twelve months. OTHERS TO WATCH: Other diversified technology companies include IBM (IBM), Lenovo Group (LNVGY), Apple (AAPL) and Microsoft (MSFT).
News For HPQ;IBM;LNVGY;AAPL;MSFT From The Last 14 Days
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October 7, 2014
14:00 EDTAAPLGT Advanced sapphire not used for iPhones because 'proved brittle,' WSJ says
Apple's (AAPL) decision to choose glass screens over GT Advanced's (GTAT) sapphire screens for the iPhone 6 was because of "tests in which the synthetic sapphire proved brittle, cracking when phones were dropped from various heights and angles," The Wall Street Journal reported last night, citing people familiar with the matter. Apple's decision to withhold GT Advanced's expected $139M payment was the tipping point for GT Advanced to declare bankruptcy, people familiar with the matter added. Reference Link
12:50 EDTMSFTSamsung aiming for arbitration versus Microsoft, Bloomberg says
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12:45 EDTMSFTMicrosoft near deal to buy text analysis start-up for about $200M, WSJ says
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12:45 EDTMSFTMicrosoft to hold cloud event on October 20
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11:27 EDTHPQHP non-public info may relate to Rackspace, Betaville speculates
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10:52 EDTMSFTNokia suspends handset production at Chennai facility, Reuters reports
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10:43 EDTHPQOptions with decreasing implied volatility
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10:29 EDTAAPLGT Advanced lists Apple, Airgas, GrafTech, Ultra Clean among top 30 creditors
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10:17 EDTAAPLSamsung outlook miss weighs on suppliers
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09:36 EDTAAPLActive equity options trading on open
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08:46 EDTAAPLFireEye announces targeted attack protection for Apple platform
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08:15 EDTAAPLApple leaks point to iPad Air 2 with Touch ID, gold color, Michael Report says
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08:09 EDTHPQHP undisclosed info seen pointing to life in EMC talks, Bloomberg reports
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07:48 EDTMSFT, IBMU.S. Chamber of Commerce to hold a discussion
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07:00 EDTMSFTReport says 100K Xbox Ones sold throughout China, Kotaku says
A report from Chinese video games news website 17173 said that Shanghai Media Group vice-president Zhang Dazhong accidentally noted that over 100K Microsoft Xbox One consoles sold throughout China during the first week they were launched, according to Kotaku, citing the report from 17173. Reference Link
06:29 EDTIBMIBM, Globalfoundries reignite discussions for chip division, Bloomberg says
IBM and Globalfoundries have restarted discussions for IBM to sell its unprofitable chip production division, according to Bloomberg, citing a person familiar with the matter. The source said that IBM could pay Globalfoundries more than $1B to take over the unit. Reference Link
06:14 EDTAAPLSamsung may find difficulty competing with TSMC for Apple chips, DigiTimes says
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06:11 EDTAAPLApple adjusts supply ratio for iPhone 6 and iPhone 6 Plus, DigiTimes reports
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06:09 EDTAAPLApple 12-inch tablet may integrate both Mac OS and iOS, DigiTimes reports
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06:06 EDTAAPLApple reinstated with a Buy at BofA/Merrill
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