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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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November 18, 2014
05:29 EDTIBMIBM signs EUR 1B contract with Lufthansa
IBM (IBM) announced that it has signed a seven-year EUR 1B outsourcing contract to deliver IT infrastructure services for the Deutsche Lufthansa AG (DLAKY) and its Group companies. According to the agreement, which is subject in particular to the approval of the Lufthansa Supervisory Board and antitrust authorities, IBM will first optimize the airline's IT processes to increase efficiency, which is expected to generate an estimated cost savings by an average of approximately EUR 70M annually for the Lufthansa Group. This agreement is in line with the terms and conditions as published already in October. As part of the outsourcing agreement, IBM will manage Lufthansa Systems' entire data center operations, help desk and printer services along with individual infrastructure services. Around 1,400 Lufthansa Systems employees will transfer to IBM. Infrastructure services are scheduled to begin from IBM on April 1, 2015. The contract was signed November 15, 2014.
November 17, 2014
16:00 EDTAAPLOptions Update; November 17, 2014
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12:02 EDTMSFTSAP names new Chief Digital Officer, Chief Marketing Officer
SAP (SAP) announced that Jonathan Becher has been appointed as the company's first Chief Digital Officer to lead the company's new digital business unit with immediate effect. SAP has appointed Maggie Chan Jones as Chief Marketing Officer. Jones, who will join SAP from Level 3 Communications (LVLT), spent seven years at Microsoft (MSFT). She has extensive cloud experience having successfully navigated Microsoft's transition from on premise to a cloud business.
11:14 EDTAAPLApple price target raised to $120 from $115 at RBC Capital
RBC Capital earlier increased its price target on Apple as the firm estimates that the company's watch will generate $10B in revenue and 40c in EPs in the first 12 months after it's released. The firm increased its FY15 sales estimates for the company by $6.5B and raised its FY15 EPS estimate by 24c. It keeps an Outperform rating on the shares.
09:36 EDTAAPLActive equity options trading
Active equity options trading according to Track Data: AAPL PBR BHI GILD MU HD AMZN TSLA YHOO FB TWTR
07:52 EDTIBMDepartment of Energy awards $425M for supercomputing technologies
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07:28 EDTLNVGYSamsung pushing supply chain to cut OLED panel component prices, DigiTimes says
Samsung Display (SSNLF), which is looking to be price competitive with its own smartphone and has also attracted new customers including Motorola Mobility, Dell and Lenovo (LNVGY) that are developing Samsung Display OLED technology either in smartphones or notebooks, is pushing supply chains, including backlight makers, to lower pricing for components by as much as 30% during Q4, said DigiTimes. Reference Link
06:23 EDTMSFTFacebook working on 'Facebook at Work' website, FT reports
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November 16, 2014
20:04 EDTAAPLApple: App Store adds UnionPay as payment option for customers in China
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November 14, 2014
17:13 EDTAAPLAppaloosa gives quarterly update on stakes
NEW STAKES: NXP Semiconductors (NXPI), Lorillard (LO), Alibaba (BABA), and Shire (SHPG). INCREASED STAKES: Whirlpool (WHR), Priceline (PCLN), Delta (DAL), CBS (CBS), and General Motors (GM). DECREASED STAKES: American Airlines (AAL), Disney (DIS), Apple (AAPL), MGM Resorts (MGM), and Eastman Chemical (EMN). LIQUIDATED STAKES: Expedia (EXPE), AIG (AIG), Prudential (PRU), Celanese (CE), and ASML Holding (ASML).
16:39 EDTIBMBerkshire Hathaway gives quarterly update on stakes
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16:01 EDTAAPLOptions Update; November 14, 2014
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10:49 EDTAAPLReport: iPhone 6 outselling iPhone 6 Plus 3-to-1 margin, Apple Insider says
Apple's iPhone 7 lineup is mostly driven by the 4.7-inch model, accounting for 68% of all iPhone sales, while the iPhone 6 Plus took between 23%-24%, reports Apple Insider. Citing a report from Consumer Intelligence Research Partners, the new iPhones represented 91% of total iPhone sales compared to the iPhone 5s and 5c accounting for 84% of total iPhone sales a year ago. Reference Link
09:38 EDTAAPL, MSFTActive equity options trading
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09:18 EDTMSFTTyler Technologies signs contract with Ohio Police and Fire Pension Fund
Tyler Technologies (TYL) has signed a contract with the Ohio Police and Fire Pension Fund to implement Microsoft Dynamics AX, an enterprise resource planning solution with public sector functionality that Tyler Technologies jointly developed with Microsoft (MSFT). The contract includes related professional services, licensing, training and support.
09:05 EDTMSFTNPD says U.S. video game sales down 27% in October, Bloomberg reports
U.S. retail sales of video-game hardware and software in October were nearly flat compared to the same month of last year at $790.7M, according to NPD Group, which noted that game sales fell 27% and hardware sales increased 59%, reported Bloomberg. Publicly traded companies in the space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO). Game console makers include Microsoft (MSFT), Sony (SNE) and Nintendo (NTDOY). Reference Link
07:52 EDTAAPLIntegrated Device to benefit from wireless charging adoption, says Craig-Hallum
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07:05 EDTAAPLApple told FTC health data will be protected, Reuters reports
The U.S. Federal Trade Commission has asked Apple to prevent sensitive health data that will be collected by its devices from being used without users' consent, according to Reuters, which cited two unnamed sources. The tech giant has promised the FTC that it will not sell the data to third parties or allow developers to do so, the news service stated. Reference Link
06:54 EDTAAPLU.S.warns on vulnerability in Apple's iOS, Reuters reports
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06:16 EDTAAPLEU says Starbucks tax deal in Netherlands may be illegal state aid, WSJ says
The European Union said the tax deal struck by Starbucks (SBUX) in the Netherlands amounts to illegal state aid, reports the Wall Street Journal. European Commission regulators said it reached a preliminary view that the tax deal violated guidelines produced by the Organization for Economic Cooperation and Development. It said the tax deal "tolerates questionable adjustments which allow Starbucks Manufacturing BV to lower the resulting corporate income tax basis in the Netherlands." The EU is also investigating tax arrangements of Apple (AAPL) in Ireland and Amazon (AMZN) and Fiat S.p.A. (FIATY) in Luxembourg. Reference Link
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