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Stock Market & Financial Investment News

News Breaks
August 21, 2014
11:44 EDTLNVGY, MSFT, IBM, AAPL, HPQHP 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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February 17, 2015
16:00 EDTAAPLOptions Update; February 17, 2015
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13:18 EDTAAPLOmega Advisors gives quarterly update on stakes
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12:50 EDTAAPLOn The Fly: Midday Wrap
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12:26 EDTIBMIBM launches new storage software
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10:31 EDTAAPLApple rises as analysts applaud reported auto ambitions
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09:40 EDTAAPLActive equity options trading on open
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09:09 EDTMSFTBox announces Microsoft Office cloud integration
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09:06 EDTMSFTCitrix joins Microsoft Cloud Storage Partner Program
Citrix (CTXS) announced it is an inaugural member of the new Microsoft (MSFT) Cloud Storage Partner Program.
07:32 EDTAAPLApple asking suppliers to make 5M-6M Apple Watches in Q1, WSJ says
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07:28 EDTAAPLApple design chief working on store redesign ahead of Watch, New Yorker says
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07:22 EDTAAPLMitsubishi UFJ to hold a tour
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07:15 EDTAAPLApple foray into autos would be logical, says Barclays
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07:08 EDTAAPLAuto market could be meaningful for Apple, says Cantor
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06:02 EDTLNVGYNXP Semiconductors selected by Lenovo Group
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05:57 EDTLNVGYLenovo will not further ramp in-house notebook production in FY16, DigiTimes say
Lenovo will not ramp up notebook shipments from its joint venture with Compal Electronics in FY16, reports DigiTimes. According to sources in Taiwan's notebook supply chain, the decision not to ramp up shipments is due to higher than expected shipments reached in FY15. Total notebook shipments from LCFC are expected to reach 23 million units in fiscal 2015. Reference Link
05:51 EDTMSFTStocks with implied volatility below IV index mean; MSFT QCOM
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February 16, 2015
17:24 EDTIBMFIS, Oracle among those exploring Monitise bid, Sky News reports
FIS (FIS) is among the U.S. companies considering a takeover bid for Monitise, the UK mobile banking software manufacturer which put itself up for sale last month, Mark Kleinman of Sky News reports. Other possible bidders include Oracle (ORCL) and IBM (IBM), Kleinman added. He pointed out that all of the takeover discussions are said to be at an early stage. Reference Link
February 15, 2015
16:44 EDTAAPLApple Watch could increase revenue by 10% next year, Barron's says
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07:47 EDTAAPLHope of car positive for Apple shares, says Piper Jaffray
Piper Jaffray analyst Gene Munster said in a note to investors yesterday that the potential for a car gives investors something to look at as "the next big thing" for Apple. Munster believes the Wall Street Journal's report that Apple is building an electric car will help support the stock over the next six months. He believes it is unlikely that the company launches anything in the next five years, however. Munster reiterated an Overweight rating on Apple with a $160 price target. The stock closed Friday up 62c to $127.08.
07:46 EDTAAPLApple working on minivan-like electric vehicle, WSJ reports
Apple has "several hundred" employees working secretly toward creating an Apple-branded electric vehicle, Wall Street Journal reported yesterday, citing people familiar with the matter. The project is known internally as "Titan" and has a design that resembles a minivan, the Journal added. The Financial Times reported yesterday that the iPhone maker is recruiting experts in automotive technology and vehicle design. Reference Link
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