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Stock Market & Financial Investment News

News Breaks
June 12, 2014
12:31 EDTHPQ, WAVX, RH, GERN, TWTR, LULUOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday after retail sales rose less than expected in May and first-time unemployment claims increased last week. In addition to the mixed bag of economic data, there has also been increased anxiety about Iraq in recent days amidst a backdrop of an Islamist militant uprising there, as evidenced by a seven month high in the price of crude oil. The market opened in negative territory and has remained there throughout the morning, though the averages have drifted in a fairly narrow range again. ECONOMIC EVENTS: In the U.S., retail sales rose only 0.3% in May, and were up 0.1% excluding autos, as both growth figures missed the consensus forecast. Initial jobless claims rose to 317K in the week ended June 7, which was above the expectation for 310K new claims. Import and export prices both rose 0.1% in May. Business inventories rose 0.6% in April, with sales up 0.7%. In Europe, the euro zone's industrial output rose 0.8% in April, versus expectations for a 0.4% increase. COMPANY NEWS: Shares of Hewlett-Packard (HPQ) climbed nearly 2% near noon after Goldman Sachs admitted that its negative thesis on the stock was wrong and upgraded the shares to Neutral from Sell. Among 34 research firms tracked by Bloomberg, none now have a "Sell" or equivalent rating on shares of HP following Goldman's upgrade... Twitter (TWTR) shares gained 4% after the company confirmed a report from Re/code that Ali Rowghani has resigned from his position as Chief Operating Officer. Rowghani will continue to be an employee and act as a strategic advisor to the CEO and the company does not intend to hire a replacement for the COO role, Twitter stated. MAJOR MOVERS: Among the notable gainers was Geron (GERN), which advanced 26.5% after the FDA removed its partial clinical hold on the company's trial of imetelstat in myelofibrosis. Also higher were shares of home furnishings retailer Restoration Hardware (RH), which rose 13% after the company's first quarter quarter results topped analysts' consensus estimates and it raised its fiscal 2014 outlook. Among the noteworthy losers was yoga wear maker lululemon (LULU), which dropped over 15% and was downgraded at both William Blair and Stifel after the company reported Q1 results, lowered its FY14 guidance and announced the retirement of CFO John Currie. Also lower following was Wave Systems (WAVX), which fell 22% after it announced plans to sell about 5.2M shares of its common stock at a price of $1.90 per share. INDEXES: Near midday, the Dow was down 51.99, or 0.31%, to 16,791.89, the Nasdaq was down 10.49, or 0.24%, to 4,321.45, and the S&P 500 was down 5.57, or 0.29%, to 1,938.32.
News For HPQ;TWTR;RH;LULU;GERN;WAVX From The Last 14 Days
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May 19, 2015
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
14:15 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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08:33 EDTRHRestoration Hardware names Sanchak as Chief Real Estate & Development Officer
Restoration Hardware announced that David Stanchak has joined the Company as Chief Real Estate and Development Officer, effective immediately. In this newly created position, Stanchak will be leading the transformation of RH’s current legacy galleries into next generation Design Galleries, with responsibility for the company’s real estate and store development efforts. Stanchak will report to RH’s Chairman and CEO, Gary Friedman, and serve as a member of the company’s Executive Leadership team.
May 15, 2015
16:01 EDTTWTROptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
12:47 EDTLULUAppeals court dismisses lululemon yoga pants lawsuit, Reuters reports
A lawsuit accusing lululemon of defrauding shareholders by failing to reveal the sheerness of its black Luon yoga pants has been properly dismissed by a U.S. appeals court, Reuters reports. The court ruled that "Insofar as the defendants are alleged to have omitted information from Lululemon's corporate website, filings with the SEC, press releases, or investor calls, the has failed adequately to plead with particularity that these omissions rendered the defendants' statements inaccurate, incomplete, or misleading or that the defendants were otherwise under a duty to disclose such information." Reference Link
11:00 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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09:37 EDTTWTRActive equity options trading on open
Active equity options trading on open: AAPL TWTR TSLA NFLX FB
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
16:00 EDTTWTROptions Update; May 14, 2015
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11:33 EDTTWTRStocks with call strike movement; TWTR SUNE
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11:06 EDTLULUOptions with increasing implied volatility
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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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12:01 EDTTWTRStocks with call strike movement; TWTR RIG
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11:22 EDTLULUOptions with increasing implied volatility
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09:49 EDTLULUlululemon April channel checks appear strong, says Bernstein
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09:39 EDTTWTRActive equity options trading on open
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07:02 EDTLULUlululemon announces resignation of EVP, Global Retail Delaney Schweitzer
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