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Stock Market & Financial Investment News

News Breaks
August 21, 2014
11:44 EDTMSFT, IBM, AAPL, HPQ, LNVGYHP 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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January 13, 2015
07:18 EDTAAPLQuanta ramps up production of 12-inch MacBook Air, DigiTimes reports
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07:04 EDTIBMFederal court confirms halt to sales of chips used by SanDisk, IBM, others
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06:44 EDTHPQHP downgraded to Sector Perform from Outperform at Pacific Crest
Pacific Crest downgraded HP (HPQ) to Sector Perform citing valuation and rising competitive risks from hyperconvergence and new datastores. The firm lists Tableau (DATA), F5 Networks (FFIV), lik Technologies (QLIK) and Nimble Storage (NMBL) as its top names to own in the Cloud, Analytics & Data Infrastructure space. Pacific Crest also downgraded also NetApp (NTAP) to Sector Perform citing the same rationale as HP.
06:33 EDTIBMTeradata set to acquire Appoxee for about $20M, WSJ reports
Teradata (TDC) will buy Appoxee, a Tel Aviv-based mobile-marketing-automation startup, for around $20M, The Wall Street Journal reports, citing two sources. Teradata rival IBM (IBM) acquired Xtify, a mobile-marketing company, in 2013. Reference Link
06:30 EDTIBMCourt order bars sales of chips used by SanDisk and IBM, WSJ reports
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06:21 EDTAAPLApple upgraded at Credit Suisse
As previously reported, Credit Suisse upgraded Apple to Outperform from Neutral. The firm raised iPhone volume estimates again to 215M units for both FY15/16 and sees $10 EPS power in CY16 based on a solid and sustainable iPhone trends combined with a muted response from Samsung. Additionally, the firm believes excessive net cash levels indicate a new $200B return program should occur. Price target raised to $130 from $110.
06:20 EDTAAPLApple supplier shows 'unbreakable' smartphone with sapphire display, WSJ says
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06:18 EDTAAPLSilicon Valley shuttle drivers looking to unionize, USA Today reports
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06:09 EDTAAPLApple implied volatility of 38 at upper end of index mean range
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06:06 EDTAAPLApple upgraded to Outperform from Neutral at Credit Suisse
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January 12, 2015
16:50 EDTAAPL, HPQ, LNVGYGartner says worldwide PC shipments in Q4 grew 1%
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16:00 EDTAAPLOptions Update; January 12, 2015
iPath S&P 500 VIX Short-Term Futures up 1.57 to 33.54. Option volume leaders: AAPL TSLA TWTR AMZN AA SIRI RIG FRO C according to Track Data.
12:53 EDTAAPLApple falls, levels to watch
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11:51 EDTIBMIBM results seen being hurt by continued dollar strength
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09:34 EDTAAPLActive equity options trading
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08:21 EDTAAPLApple poised to gain market share, says JMP Securities
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08:05 EDTMSFTGameStop to use Microsoft Azure to stream game content, promotional materials
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07:52 EDTIBMIBM to undertake biggest re-organization in company history, Register says
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07:52 EDTIBMIBM price target lowered to $130 from $144 at Jefferies
Jefferies lowered its price target for IBM shares to $130 after cutting its estimates to reflect the strengthening of the dollar against almost every other major currency worldwide since the tech giant reported Q3 results. Jefferies believes consensus estimates for IBM need to come down as the company deals with enterprises increasingly allocating investments away from traditional Software and IT Outsourcing toward investments in Cloud, Mobile and and Social initiatives. The firm reiterates an Underperform rating on IBM.
07:35 EDTIBMNational Retail Federation to hold a trade show
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