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Stock Market & Financial Investment News

News Breaks
May 23, 2014
11:07 EDTLNVGY, MSFT, IBM, AAPL, HPQHP 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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August 18, 2015
06:30 EDTAAPLU.S. PTO views Apple D'677 iPhone design patent as invalid, Foss Patents says
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06:15 EDTAAPLNew Apple TV's OS to be TV-optimized version of iOS 9, 9to5Mac reports
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05:55 EDTAAPLQualcomm to supply all modem chips for next iPhone, DigiTimes reports
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August 17, 2015
19:12 EDTAAPLNew Apple TV device to feature iPhone-like interface, 9to5Mac says
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18:46 EDTAAPLGerman carriers prepare for September launch of next iPhone, AppleInsider says
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17:44 EDTAAPLApple says services, store, cloud may be down for some users, Bloomberg reports
16:00 EDTMSFT, AAPLOptions Update; August 17, 2015
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10:05 EDTAAPLApple preparing first Kangaroo bond, Reuters reports
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09:38 EDTAAPL, MSFTActive equity options trading on open
Active equity options trading on open: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT
09:14 EDTHPQHP Q3 results have modest expectations at UBS
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09:03 EDTLNVGYLenovo, StorMagic to offer software-defined-storage for small business
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08:22 EDTAAPLSprint customers can upgrade iPhone anytime, included in monthly rate
Sprint (S) announced that customers can upgrade their Apple (AAPL) iPhone anytime, included in their monthly rate. New and upgrade eligible Sprint customers can get iPhone for just $22 per month with iPhone Forever. Anytime customers don't have the latest iPhone, they are eligible to upgrade. They bring their iPhone, upgrade on the spot and away they go. It's that simple. iPhone Forever is available on any eligible Sprint rate plan and upgrade eligibility is always included in your price. New or existing customers who are upgrade eligible can bring in any smartphone and get a 16GB iPhone 6 model and their monthly rate will be reduced to just $15 until their next upgrade. As a special promotion, customers who get iPhone 6 and upgrade before December 31 continue with the discount price of $15 until their next upgrade.
07:56 EDTHPQHP Q3 results have modest expectations at UBS
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07:54 EDTAAPLApple iPhone sales likely to fall in start of fiscal 2016, says Pacific Crest
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07:39 EDTIBM, MSFTTMC to hold a conference
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07:30 EDTLNVGYLenovo weakness overdone, says Bernstein
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06:52 EDTHPQHewlett-Packard August volatility elevated into Q3 and outlook
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06:38 EDTAAPLApple Watch revenue leader in wearable category, Business Insider reports
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August 16, 2015
19:34 EDTAAPLApple inquires about automotive testing facility, AP says
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13:59 EDTIBMIBM product development strategy leaves cause for concern, Barron's says
IBM's hefty dividend and buyback programs have expended upward of 80% of operating cash flow in the past three years, and the company's "thin" R&D investments should give investors a "reason to be concerned," Barron's contends in its 'Technology Trader' column. Reference Link
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