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Stock Market & Financial Investment News

News Breaks
August 21, 2014
11:44 EDTHPQ, IBM, LNVGY, AAPL, MSFTHP hits 52-week high after solid revenue growth, positive analyst commentary
Shares of diversified technology giant Hewlett-Packard (HPQ) are rising after the company delivered year-over-year revenue growth in the third quarter for the first time in three years. The company also received a wealth of positive analyst commentary. WHAT'S NEW: Last night, HP reported Q3 adjusted earnings per share of 89c and revenue of $27.6B, compared to analysts' consensus estimates of 89c and $27.01B, respectively. Cash flow from operations for the quarter was $3.6B, up 36% from the prior-year period. For the quarter, Personal Systems revenue was up 12% year over year, while Printing revenue was down 4% y/y and Enterprise Group revenue was up 2% y/y. Enterprise Services revenue was down 6% y/y and Software revenue was down 5% y/y. Chief Executive Officer Meg Whitman said her confidence in the company's turnaround is growing stronger, adding that she is "very pleased" with the progress the company has made. Looking ahead, HP forecast fourth quarter adjusted EPS of $1.03-$1.07, compared to consensus of $1.05. Fiscal 2014 adjusted EPS was seen at $3.70-$3.74, compared to analysts' consensus estimates of $3.72. WHAT'S NOTABLE: On the company's earnings conference call, Whitman said HP's product line up is the strongest in years with innovation "alive and well." She said the company expects to end FY14 with $9B in cash flow and will resume share repurchases in Q4. Whitman also noted that mergers and acquisitions will be part of the future, but she would prefer to grow the company organically. In an interview with Reuters, Whitman said that the company is in an improved spot at the moment to pursue acquisition opportunities than it has been in the past year since it now has $4.7B in net cash. Whitman also told CNBC that HP is in a position to "comfortably" do acquisitions. ANALYST REACTION: This morning, analyst commentary was decidedly positive. Morgan Stanley raised its price target on HP to $40 from $36 and believes the return to revenue growth in PC, industry standard server and networking is sustainable and will continue to re-rate shares. The firm has as Overweight rating on the stock. Brean Capital believes if the company can become a consistent earnings grower and have positive normalized revenue growth, the stock could ultimately be a $40-$75 stock. Deutsche Bank, which reiterated a Buy rating and $40 price target on the stock, said HP's Q3 results contained more positive than negatives with the return of revenue growth and a strong performance in PCs. Cantor Fitzgerald raised its 12-month price target on HP to $34.50 from $30.00, though the firm says its long-term trajectory for HP "remains in question." PRICE ACTION: In late morning trading, HP rose $1.76, or about 5%, to $36.90 on heavy trading volume. Earlier in the session, the stock hit a fresh 52-week high of $36.92. Including today's advance, the stock is up approximately 44% over the past 12 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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September 18, 2014
05:40 EDTAAPLApple says will never allow government access to servers
Apple launched a website dedicated to privacy with a message from its CEO Tim Cook. The message stated in part, "We donít build a profile based on your email content or web browsing habits to sell to advertisers. We donít Ďmonetizeí the information you store on your iPhone or in iCloud. And we donít read your email or your messages to get information to market to you. Our software and services are designed to make our devices better. Plain and simple...Finally, I want to be absolutely clear that we have never worked with any government agency from any country to create a backdoor in any of our products or services. We have also never allowed access to our servers. And we never will."
05:34 EDTMSFTInfosys expands partnership with Microsoft
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September 17, 2014
16:46 EDTAAPLApple says HealthKit apps not available until end of month
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16:00 EDTAAPLOptions Update; September 17, 2014
iPath S&P 500 VIX Short-Term Futures down 24c to 27.63. Option volume leaders: AAPL TSLA BAC TWTR AMZN X WLT KO PBR according to Track Data.
15:46 EDTAAPLApple using own CDN, not Akamai, Level 3, for iOS 8, StreamingMediaBlog says
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13:57 EDTAAPLiPhone code compromises users, reroutes to fake eBay site, BBC says
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12:27 EDTAAPLNet Element shares higher by over 29% after integrating Apple services
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12:17 EDTIBMIBM cuts pay by 10% for some employees, ComputerWorld reports
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11:42 EDTAAPLVerizon says company-wide growth at moment is 'fine'
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10:15 EDTAAPLDiscover calls active, rumored to be eyed as target by Apple, report
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10:07 EDTAAPLApple could announce new products at October event, Apple Insider says
Apple is said to be planning an event for the second half of October where it will unveil more gadgets, a source tells Apple Insider. The company may unveil a next-generation iPad Air and iPad mini which is rumored to feature the company's Tough ID fingerprint sensor. Reference Link
10:04 EDTAAPLDiscover rumored to be eyed as target by Apple, Bank Innovation says
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09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFM X YHOO TSLA TWTR RAX SHLD SPLS
08:23 EDTIBMIBM to hold a meeting
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07:43 EDTAAPLApple iPhone prices could rise, says RBC Capital
After conducting a survey of consumers, RBC Capital believes that average sales prices for Apple's iPhone could rise $90 quarter-over-quarter and $65 year-over-year, while gross margins could increase as a result of higher average memory per device. The firm raised its price target on the name to $114 from $110 and keeps an Outperform rating.
07:22 EDTAAPLEarly reviews point to iPhone 6 battery life similar to iPhone 5s, BI says
After analyzing the first round of major tech publications' reviews of the iPhone 6 and 6 Plus, Business Insider said critics have "mixed" opinion's on the battery life of the 6 and that it "seems like" the smaller phone's battery life won't be radically different from the iPhone 5s. Reference Link
06:39 EDTMSFTMicrosoft planning new wave of layoffs for this week, ZDNet reports
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06:31 EDTAAPLLG Display to supply AMOLED panels for Apple Watch, DigiTimes reports
LG Display (LPL) are expected to supply Apple (AAPL) 5M AMOLED panels a month in 2015 for the Apple Watch, reports DigiTimes. According to sources from LG Display, Apple aims to sell upwards of 50M Apple Watches in 2015. Apple will reportedly not purchase AMOLED panels from Samsung (SSNLF) Display and instead will have LG as the sole panel provider for the Apple Watch. Reference Link
06:29 EDTAAPLApple iPhone 6 products sell out fast in Taiwan market, DigiTimes says
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06:17 EDTAAPLApple supplier reportedly struggling to meet iPhone demand, WSJ reports
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