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Stock Market & Financial Investment News

News Breaks
November 20, 2012
16:24 EDTBBY, HTWR, CLF, HPQ, KKDOn The Fly: Closing Wrap
Stocks on Wall Street were mixed after pre-open news of a $8.8B write-down at Hewlett-Packard (HPQ) and midday comments from Federal Reserve Chairman Ben Bernanke dented the averages. Better than expected housing data provided a counter point to Bernanke's warnings about the potential impact of the fiscal cliff and a late day recovery brought the indices back to being nearly unchanged on the day... ECONOMIC EVENTS: In the U.S., housing starts increased 3.6% in October from the prior month, to an annual rate of 894K, versus expectations for a decline of 3.7%. Building permits declined 2.7%, to an 866K annual rate, versus expectations for a decline of 2.9%. In Europe, Moody's downgraded France's government bond rating to Aa1 from Aaa... COMPANY NEWS: Hewlett-Packard shares plunged $1.59, or 11.95%, to $11.71, closing near 10-year lows after the company disclosed "serious accounting improprieties, disclosure failures and outright misrepresentations” related to its purchase of U.K. software company Autonomy. In addition to the scandal, H-P's quarterly earnings beat expectations but its view for profit next quarter trailed Street estimates... MAJOR MOVERS: Among the notable gainers was Krispy Kreme Doughnuts (KKD), up $1.77, or 23.47%, to $9.31 after the company's Q3 earnings beat consensus estimates and Wedbush raised their price target on the shares to $11 from $9. Also higher were shares of HeartWare (HTWR), which rose $7.53, or 9.18%, to $89.54 after the company received FDA approval for a heart failure pump. Among the noteworthy losers was Best Buy (BBY), which slid $1.79, or 13.02%, to $11.96 after its earnings fell short of lowered expectations and its same store sales declined 4.3%. Also lower were shares of Cliffs Natural Resources (CLF), down $4.19, or 12.07%, to $30.48 following a downgrade to Sell from Neutral at Goldman... INDICES: The Dow was down 7.45, or 0.06%, to 12,788.51; the Nasdaq was up 0.61, or 0.02%, to 2,916.68; and the S&P 500 was up 0.93, or 0.07%, to 1,387.82.
News For HPQ;KKD;HTWR;BBY;CLF From The Last 14 Days
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May 21, 2015
06:05 EDTBBYStocks with implied volatility above IV index mean; ALTR BBY
Stocks with implied volatility above IV index mean; Altera (ALTR) 68, Best Buy (BBY) 40 according to iVolatility.
May 20, 2015
16:23 EDTCLFCliffs Natural says Wabush has commenced restructuring proceedings
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15:21 EDTBBYBest Buy May weekly volatility elevated into Q1 and outlook
Best Buy May weekly call option implied volatility is at 104, June is at 39, September is at 34; compared to its 90-day average of 32, suggesting large near term price movement into the expected release of Q1 earnings on May 21.
15:00 EDTBBYNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Dollar Tree (DLTR), consensus 75c... Best Buy (BBY), consensus 29c... Advance Auto Parts (AAP), consensus $2.48... Patterson Companies (PDCO), consensus 65c... Donaldson Company (DCI), consensus 35c... Booz Allen Hamilton Holding (BAH), consensus 33c... The Buckle (BKE), consensus 78c... Monro Muffler Brake (MNRO), consensus 39c... Brady Corp. (BRC), consensus 37c... Trina Solar (TSL), consensus 9c... Quality Systems (QSII), consensus 15c... Kirkland's (KIRK), consensus 11c... Bon-Ton Stores (BONT), consensus ($1.56).
09:34 EDTBBYBest Buy trends moderating, says Cleveland Research
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08:45 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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06:07 EDTBBYStocks with implied volatility above IV index mean; KORS BBY
Stocks with implied volatility above IV index mean; Michael Kors (KORS) 40, Best Buy (BBY) 37 according to iVolatility.
May 19, 2015
12:55 EDTHPQPC related stocks struggle after Morgan Stanley says PC turn won't come until Q3
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09:53 EDTBBYBest Buy May volatility elevated into Q1 and outlook
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06:36 EDTHPQHP sued by MicroTech for $16.5M for 'unfairly taking advantage'
In a lawsuit filed Monday with the United States District Court for the Northern District of California in San Francisco, Virginia technology company MicroTech accuses Hewlett Packard and the software maker it now owns, Autonomy, of unfairly taking advantage by refusing to return $16.5M in cash paid to Autonomy for software never delivered in a fashion where it could be re-sold. During a national telephonic press conference, Lanny J. Davis, a Washington, D.C. attorney advising MicroTech, described the core allegation in the breach of contract case filed against HP: "Regardless of whether HP was defrauded by Autonomy, or whether HP's over-payment for Autonomy was a product of a possible due diligence failure, in my opinion, HP is not entitled to keep both MicroTech's money AND Autonomy's software that MicroTech duly purchased," Davis said.
06:24 EDTHPQHP to sell controlling stake in H3C unit to Tsinghua Unigroup, Reuters reports
HP will sell its 51% stake in H3C, its China-based computing unit, to Tsinghua Unigroup, Reuters reports, citing comments from a spokesperson for the Chinese private-equity fund's parent company. Terms have not been disclosed, but the spokesperson says he believes the deal will be completed in the coming days. Reference Link
May 18, 2015
15:50 EDTKKDKrispy Kreme signs development agreement to open 31 shops in South Africa
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14:15 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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May 15, 2015
11:00 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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07:40 EDTHPQHP split to be positive catalyst, says Deutsche Bank
Deutsche Bank believes HP's split will be a positive catalyst for shares this year. It views the stock as attractively priced ahead of the Q2 results on May 21 and says HP remains a top pick for 2015. Deutsche has a Buy rating on the name with a $45 price target.
May 14, 2015
09:40 EDTHPQHP upgraded to Buy from Hold at Cross Research
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06:15 EDTHPQHP Q2 sales weakness largely expected, says Citigroup
Citigroup believes HP's Q2 revenue on May 21 could miss the consensus expectation of $25.8B due to PC weakness and currency pressure. Citi thinks sales weakness is largely expected, however. The firm says HP shares "will start to work again" as management will likely address and quantify the additional costs of operating as two separate companies. Uncertainty around the size of the dis-synergy costs has been a key factor behind the stock's recent underperformance, Citi believes. It keeps a Buy rating on HP with a $41 price target.
May 13, 2015
12:43 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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06:35 EDTBBYBest Buy May volatility elevated into Q1 and outlook
Best Buy May weekly call option implied volatility is at 54, June is at 34, September is at 33; compared to its 90-day average of 32 according to Track Data, suggesting large near term price movement into the expected release of Q1 earnings on May 21.
May 11, 2015
07:50 EDTHPQHP awarded IT services contract by California WCDS
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