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June 3, 2014
12:26 EDTKKD, IDCC, F, TSN, ZQK, FIATY, GM, HSH, ACHC, SSNLF, PF, PPCOn The Fly: Midday Wrap
Stocks on Wall Street began the session in negative territory and spent most of the morning there. At one point the averages turned mixed with the Dow and S&P in positive ground while the Nasdaq continued to lag, but all three slipped back into the red before long, which is where they stood near noon. ECONOMIC EVENTS: In the U.S., factory orders rose 0.7% in April from the revised March figure, topping the consensus forecast for a 0.5% increase. In China, the government's official services purchasing managers' index hit a 6-month high, rising to 55.5 in May from 54.8 in April. COMPANY NEWS: Shares of Hillshire Brands (HSH) jumped 9% to trade above $58 as the bidding war for the meat producer continues. Pilgrim's Pride (PPC) confirmed that it submitted a revised proposal to acquire Hillshire for $55.00 per share in cash, which is up from its prior offer of $45 and tops a rival bid of $50 per share that was made by Tyson Foods (TSN). For its part, Hillshire said its board has agreed to provide information to, and conduct separate talks with Pilgrimís Pride and Tyson about their recent unsolicited proposals, but Hillshire cautioned that it does not have the right to terminate its Pinnacle Foods (PF) merger agreement on the basis of either of the two companies' takeover proposals... Despite its recall woes, General Motors (GM) reported that its U.S. sales grew 12.6% from the prior year in May. Fiat's (FIATY) Chrysler unit also reported a double-digit percentage increase in its U.S. sales last month, while Ford (F) reported that its retail sales grew 3%, powering the company to its strongest May result since 2004. Despite the strong sales reports, shares of both GM and Ford were up just a fraction of a percent near midday. MAJOR MOVERS: Among the notable gainers was InterDigital (IDCC), which advanced over 19% after the company announced a patent license agreement with Samsung (SSNLF) and increased its Q2 revenue guidance. Also higher was Acadia Healthcare (ACHC), which rose nearly 15% after it agreed to acquire Partnerships in Care in a deal that analysts at Wells Fargo expect to be "meaningfully accretive." Among the noteworthy losers following their earnings reports and guidance were surfing, skateboarding and snowboarding apparel retailer Quiksilver (ZQK), which plunged 40%, and doughnut maker Krispy Kreme (KKD), which fell over 14%. INDEXES: Near midday, the Dow was down 24.33, or 0.15%, to 16,719.30, the Nasdaq was down 8.13, or 0.19%, to 4,229.07, and the S&P 500 was down 1.97, or 0.1%, to 1,923.00.
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September 28, 2015
09:31 EDTSSNLFSamsung Pay debuts for MasterCard cardholders
Beginning today, Samsung Pay (SSNLF) is now available to MasterCard (MA) cardholders for everyday purchases. Samsung device owners can use their MasterCard credit, debit and select prepaid and small business cards from participating banks directly through Samsung Pay.
09:06 EDTSSNLFGlobal Payments announces full support for Samsung Pay in the U.S.
Global Payments Inc. (GPN) is pleased to offer its merchants in the United States the ability to accept Samsung Pay (SSNLF). As a Samsung Pay-qualified payment provider, Global Payments' suite of payment solutions is fully enabled for acceptance, allowing merchants to offer their customers the convenience of Samsung Pay.
07:28 EDTSSNLFSamsung to pay customers up to $120 for buying new Galaxy phone, Verge says
Samsung's (SSNLF) new promotion in the U.S. will pay the rest of a customer's monthly payments in 2015 towards a new Galaxy S6, S6 Edge, S6 Edge+, or Galaxy Note 5, the Verge reports. The promotion will result in $120 off the price of any of those phones if users buy one under a new carrier installment plan between now and October 9, the report says. AT&T (T) will sit the promotion out, the report says. Reference Link
September 25, 2015
10:26 EDTSSNLFBlackBerry posts quarterly loss, says turnaround continuing
BlackBerry (BBRY) shares are lower in morning trading after the company posted a second quarter loss that was steeper than analysts' expectations. BlackBerry is in the middle of a turnaround for its smartphone business and confirmed today that it plans to launch a new device that uses Google's (GOOG) Android operating system. EARNINGS: Excluding items, BlackBerry reported a loss per share for Q2 of (13c), below analysts' consensus estimates of (9c). Revenue for the quarter was $490M, reflecting a purchase accounting write down of deferred revenue associated with the acquisition of WatchDox. The revenue result may not compare with analysts' estimate of $611M. Looking ahead, BlackBerry said it is targeting "sustainable" non-GAAP profitability in the fourth quarter and sees "modest" sequential growth in total revenue for the rest of fiscal year 2016. The company sees a "slight" uptick in third quarter revenue compared to this quarter, and announced it will change its non-GAAP income statement presentation to be "consistent with the primary practice in the software industry." BlackBerry said it believes this is necessary due to its increased emphasis on software, as well as acquisitions of software companies with material recurring revenue streams. On the company's earnings conference call, John Chen, BlackBerry's chief executive officer, announced that the board approved an increase to the current buyback program by an additional 15M shares, bringing the total available for repurchase to 21M shares. The approval was based on expectations for continued free cash flow. Chen said that he believes the company has made "good progress" moving its software business from perpetual to subscription. Chen said he is "not satisfied" as far as overall revenue and profitability, particularly in its handset business, but said the company is focused on growing device volume profitably, generating recurring revenue from IP licensing and making its software business larger. WHAT'S NOTABLE: To help strengthen its device business, Chen confirmed BlackBerry will launch a new slider device powered by Google's Android operating system later this calendar year, to be called Priv. Chen also confirmed that the company will continue to develop and enhance the BlackBerry 10 operating system and confirmed plans to release platform updates focused on security and privacy enhancements. Chen said the company is working with Google to secure Android and is not using Samsung's (SSNLF) Knox. Chen said the company is not planning another BlackBerry 10 device this year and noted that if the plan of doing the Android type of implementation "works well," it could consider replacing BB10 or merging it into Android. PRICE ACTION: BlackBerry is down 2% to $6.89 in morning trading.
09:05 EDTGMGeneral Motors volatility elevated
General Motors October weekly call option implied volatility is at 34, October and November is at 33; compared to its 52-week range of 14 to 36, suggesting large near term price movement.
08:50 EDTSSNLFBlackBerry says working with Google on securing Android
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06:34 EDTGMGM CEO again rejects idea of merger with Fiat Chrysler, WSJ reports
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06:07 EDTGMGM CEO says pursuing profit margins, not market share, WSJ reports
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September 24, 2015
20:04 EDTSSNLFFacebook virtual reality initiative picks up speed with $99 Samsung device
Thursday's Oculus Connect 2 event saw numerous announcements from Facebook (FB) virtual reality subsidiary Oculus VR, including content deals with major media players as well as a $99 VR headset developed in conjunction with Samsung (SSNLF). CONTENT OFFERINGS: The virtual reality firm will be partnering with Fox (FOX, FOXA) and Lionsgate (LGF) to bring more than 100 films to the Oculus Store at launch. Additionally, Netflix (NFLX), Amazon's (AMZN), TiVo (TIVO), and Hulu -- the joint venture of Disney (DIS), Fox, and Comcast's (CMCSA, CMCSK) NBCUniversal -- will be launching apps for the company's virtual reality products, bringing web TV and streaming content to early adopters of the new technology. MAINSTREAM DEVICE: Samsung joined with Oculus to reveal a new $99 "Gear VR" headset on Thursday. Standing in contrast to Oculus' own pricier devices, the Samsung headset will rely on the company's Galaxy line of smartphones to power its virtual reality experiences. Note that a major point of contention regarding the "blockbuster" potential -- or lack thereof -- of VR technology is whether consumers will be willing to pay upwards of $399 for the Oculus gadgets. Samsung's Gear VR tends more towards what Piper Jaffray analyst Gene Munster has called "medium immersion" devices, potentially allaying investor concern over adoption rates with its more attractive point of entry. PRICE ACTION: Facebook shares closed higher by 0.5% and continued to rise in after-hours trading, up another 0.2%.
12:02 EDTSSNLFSTARZ PLAY now available on Samsung Smart TVs
Starz announced that STARZ PLAY, the authenticated online TV Everywhere service for STARZ premium subscribers, has launched on Samsung (SSNLF) Smart TVs. STARZ subscribers may now watch exclusive STARZ Original series including "Blunt Talk," "Survivor's Remorse," and "Power," among others, as well as hundreds of movies and first-run films on Samsung Smart TVs. Starting today, the STARZ PLAY App will be available in Samsung App store within the Smart Hub across select 2014 and 2015 Samsung Smart TVs.
11:21 EDTSSNLFJury says Pendrell patents not infringed on by Samsung, Google products
Pendrell announced earlier, that on September 23, a jury in the United States District Court for the Eastern District of Texas found that certain claims of five digital rights management patents asserted by Pendrell (PCO) subsidiary, ContentGuard Holdings, against Samsung Electronics (SSNLF) and Google (GOOG) are valid, but that Samsung products and Google products accused in the lawsuit do not infringe the asserted patents. ContentGuard is assessing the jury's findings and evaluating its options to challenge the verdict. ContentGuard's claims against Samsung and Google are part of a larger lawsuit filed by ContentGuard against several companies that have not paid for a license to use ContentGuard's patented digital rights management solutions, including Apple (AAPL), DirecTV, HTC, Huawei and Motorola Mobility. The jury verdict does not impact ContentGuard's August 2015 settlement and license agreement with (AMZN); nor does ContentGuard believe the jury verdict will impact or delay ContentGuard's upcoming November trial against Apple. Shares of Pendrell are down 35.34% in morning trading.
09:25 EDTFFord to host sales conference call
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09:22 EDTFFord exec says company does not use emissions 'defeat devices,' CNBC reports
Ford President of the Americas Joe Hinrichs said, while appearing on CNBC's Squawk Box, that Ford does not use "defeat devices and we clearly understand what it means from an integrity standpoint to make sure our vehicles perform on the road like they do in the lab." Hinrichs' comments come after Volkswagen (VLKAY) was accused by the EPA of installing a device in its diesel vehicles to mask their true emissions and after a German report said that a discrepancy with on-road emissions performance was found with an SUV made by BMW (BAMXY). Reference Link
09:03 EDTF, GMAlcoa completes expansion of Tennessee facility
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07:55 EDTGMVW scandal strengthens Marchionne's quest for consolidation, Bloomberg says
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06:34 EDTSSNLFApple 'A10' processor may switch to six-cores, AppleInsider reports
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06:08 EDTSSNLFSamsung Pay has over $30M in accumulated transaction volume in first month
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September 23, 2015
19:07 EDTGM, FStudy shows U.S. cars less safe than EU vehicles, Independent says
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09:55 EDTFActive calls on open: BIIB FCX X F INTC
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09:18 EDTGMPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
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