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Stock Market & Financial Investment News

News Breaks
May 23, 2014
11:07 EDTAAPL, HPQ, LNVGY, MSFT, IBMHP 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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April 15, 2015
08:01 EDTAAPLApple services profit contribution rising, says UBS
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07:58 EDTHPQTsinghua confirms talks for controlling stake in HP unit in China, WSJ reports
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06:35 EDTAAPLSamsung says Galaxy S6 demand much stronger than expected, Reuters reports
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06:18 EDTAAPLApple, Google, others doubling down on European operations, WSJ reports
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06:17 EDTMSFTCiti cuts Microsoft estimates, price target ahead of Q3 results
Ahead of the tech giant's Q3 results on April 23 and analyst day on April 29, Citigroup cut its below consensus estimates for Microsoft to reflect currency headwinds, lower PC units and reductions in commercial licensing. Citi's FY15, FY16 and FY17 earnings estimates now stand at $2.59, $2.71 and $2.90. The firm believes further contraction to Microsoft’s valuation multiple is possible given downside risk to consensus numbers and "medium-term uncertainty on multiple fronts." It believes the tech giant's strategic issues, including Windows challenges and the cloud transition, have no easy answers. Citi cut its price target for Microsoft shares to $36 from $38 and keeps a Sell rating on the name.
06:14 EDTAAPLSamsung may be borrowing from Apple profit margin strategy, WSJ reports
Samsung (SSNLF) could be borrowing from Apple's (AAPL) profit margin strategy by charging customers $100 more for each incremental gain in storage capacity, reports the Wall Street Journal. IHS senior director of research and analytics Andrew Rassweiler said it costs Samsung makes an extra $87 in profit each time it sells a 64-gigabyte Galaxy S6 and an extra $160 each time it sells a 128-gigabye device. Rassweiler adds that Apple has been structuring its iPhone offerings like this for years to improve margins. Reference Link
05:55 EDTAAPLSmart wearaable device vendors avoid Apple Watch competition, DigiTimes says
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05:10 EDTHPQHP selects Antonio Lucio as Chief Marketing Officer of HP Inc.
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April 14, 2015
17:45 EDTAAPLApple acquires Israel-based camera-technology company LinX, WSJ says
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16:00 EDTAAPLOptions Update; April 14, 2015
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12:01 EDTAAPLApple says ResearchKit now available to medical researchers
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11:04 EDTMSFTMicrosoft acquires Datazen Software, terms not disclosed
Microsoft announced in a blog post the acquisition of Datazen Software, "an industry leader in mobile business intelligence and data visualization on Windows, iOS and Android devices. This acquisition accelerates our Power BI strategy to help organizations create a data culture with easy-to-use, accessible tools to extract maximum value from data – from anywhere, on any device... Beyond great technology, this acquisition brings a group of talented people to Microsoft. They will help us continue to deliver a broad range of products and services that will empower organizations around the world capitalize on their data opportunities." Reference Link
10:27 EDTAAPLSamsung's Galaxy S6 Edge costliest phone to build, Re/code reports
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09:43 EDTAAPLApple to discuss future of iOS and OS X at conference on June 8
Apple announced that it will hold its 26th annual Worldwide Developers Conference June 8 through June 12 at San Francisco’s Moscone West. At WWDC, Apple’s developer community will come together to learn about the future of iOS and OS X. WWDC will feature more than 100 technical sessions, over 1,000 Apple engineers, hands-on labs to help developers integrate technologies and fine tune their apps. Reference Link
09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN PBR SU NFLX ALU BIDU TSLA JNJ GE
08:40 EDTAAPLSeveral signs suggest Apple may build a car, says Bernstein
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07:47 EDTHPQHP announces new $190M Medicaid contract in Arkansas
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05:48 EDTAAPLReport: Foxconn engaged in selling second-hand iPhones in China, DigiTimes says
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05:46 EDTMSFTMicrosoft's Surface 3 expected to see weak sales, DigiTimes Research reports
Microsoft's Surface 3 is expected to see low shipments and weak sales due to fiercer competition than those for its Surface Pro 3, reports DigiTimes Research. The Surface 3, priced over $600, is expected to only have limited impact on other branded 2-in-1 products, which are priced below $350 on average. Reference Link
05:46 EDTMSFTMicrosoft offers fee cut to attract vendors to pre-install apps, DigiTimes says
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