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Stock Market & Financial Investment News

News Breaks
March 18, 2014
12:41 EDTHTZ, PVA, GME, NDAQ, MSFT, AAPL, WMT, ICEOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday amid continued headlines from Russia regarding the Crimea region of Ukraine and a report that showed the cost of living in the U.S. was little changed in February. Also, the Federal Reserve kicked off its two-day policy meeting, which will culminate tomorrow with Janet Yellen's first press conference as the head of the central bank. ECONOMIC EVENTS: In the U.S., consumer prices rose 0.1% in February, matching the consensus forecast of economists. Housing starts fell 0.2% from the prior month in February to a rate of 907K, while building permits rose 7.7% to a rate of 1.02M. In Europe, Vladimir Putin formally called for Crimea and Sevastopol to be annexed and added to Russia, but added in his address to his parliament that Russia is not seeking to split up Ukraine. A measure of German economic expectations dropped more-than-expected to 46.6 in March, which was linked to the Crimea crisis and represented its weakest reading since August 2013. COMPANY NEWS: Rental car company Hertz (HTZ) confirmed plans to separate its equipment rental business and announced a new $1B share repurchase program, but missed earnings expectations. The stock's reaction to the spin-off news was likely muted due to the fact that Financial Times, citing sources familiar with the matter, had already reported on the spin-off on Friday evening and the stock advanced nearly 5% yesterday after that report. MAJOR MOVERS: Among the notable gainers was Penn Virginia (PVA), which jumped 13% after activist investor Soros Fund Management disclosed that it has taken a 9.18% stake and urged the company to explore strategic alternatives. Also higher was Microsoft (MSFT), which rose almost 4% after the tech blog The Verge, citing sources, said the company will introduce a version of its Office product suite for Apple's iPad (AAPL) at a press event later this month. Barclays also published a positive note on Microsoft this morning, stating that the firm believes that the benefit Microsoft could receive from the monetization of Office 365 is underappreciated, while the company's revenue growth from Azure is accelerating. Among the noteworthy losers was Nasdaq OMX (NDAQ), which fell about 4% after New York Attorney General Eric Schneiderman called for tougher regulations and market reforms to eliminate what he called the "unfair advantages" provided to high-frequency trading firms. Also possibly weighing on its shares was a Dow Jones report that claimed the New York Stock Exchange, which is owned by IntercontinentalExchange (ICE), is viewed as the front-runner for the upcoming IPO of China's largest e-commerce company, Alibaba. Also lower were shares of video game retailer GameStop (GME), which slid 4% after Wal-Mart (WMT) announced that customers would soon be able to trade in their used video games in return for store credit. INDEXES: Near midday, the Dow was up 81.65, or 0.5%, to 16,328.87, the Nasdaq was up 41.74, or 0.98%, to 4,321.69, and the S&P 500 was up 10.56, or 0.57%, to 1,869.39.
News For HTZ;PVA;GME;NDAQ;MSFT;AAPL;WMT;ICE From The Last 14 Days
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July 14, 2014
16:00 EDTAAPLOptions Update; July 14, 2014
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12:21 EDTAAPLOn The Fly: Midday Wrap
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10:18 EDTAAPLGT Advanced retreats after downgrade citing production concerns
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10:00 EDTNDAQ, AAPLOn The Fly: Analyst Upgrade Summary
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09:36 EDTAAPLActive equity options trading on open
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09:16 EDTAAPLOn The Fly: Pre-market Movers
HIGHER: Citigroup (C), up 3.6% after reporting better than expected Q2 results, announcing $7B settlement with DOJ and FDIC... Apple (AAPL), up 0.7% after Barclays upgrades stock to Overweight, Morgan Stanley raises Apple estimates above consensus... Shire (SHPG), up 1.6% after receiving revised proposal from AbbVie (ABBV) of GPB 53.20 per share, which it says it would be willing to recommend to Shire shareholders. AbbVie is down 2.8% after the news... Mylan (MYL), up 4% after acquiring Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in all-stock transaction valued at about $5.3B. Abbott up 1.6% after the news... Progenics (PGNX), up 13% after FDA says RELISTOR can be approved on data submitted in sNDA... Exelixis (EXEL), up 13% after announcing coBRIM Phase 3 trial met primary endpoint... URS (URS) up 8% after acquired by AECOM Technology (ACM) for $56.31 per share. AECOM shares alos up 2% after deal announcement... Whiting Petroleum (WLL), up 4.5% after agreeing to acquire Kodiak Oil & Gas (KOG) in a $6B transaction. Kodiak Oil & Gas up 3%... Kandi Technologies (KNDI), up 11% after announcing JV's sale of 4,114 EVs in Q2. LOWER: Riverbed (RVBD), down 4.5% after saying it sees its Q2 adjusted EPS at low end of 26c-28c range... Harmonic (HLIT), down 13% after reporting preliminary Q2 earnings results.. EBay (EBAY), down 0.5% after downgraded at Pacific Crest, confirming partnership plans with Sotheby's (BID).
09:14 EDTAAPLApple's iCloud Mail experiencing an outage for some users
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08:46 EDTMSFTItron selects Microsoft Azure as preferred cloud platform
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08:34 EDTMSFTPC market stability could be short-lived, Reuters says
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08:04 EDTAAPLInvenSense should be bought ahead of results, says Pacific Crest
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07:48 EDTMSFTQuantum computer company D-Wave may come public, FT says
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07:41 EDTAAPL, AAPLGT Advanced 's 2014 guidance at risk, says CLSA
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07:24 EDTAAPLApple may not release 5.5-inch 'phablet' iPhone this year, Apple Insider reports
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07:24 EDTAAPLApple estimates raised above consensus at Morgan Stanley
Morgan Stanley's survey results suggests June quarter iPhone demand upside. The firm raised its iPhone unit estimate to 36M from 34M and increased its EPS estimate to $1.24 from $1.18, vs. consensus of $1.22 and 2015 EPS estimate to $2.33 from $2.25, 11% above consensus. The analyst added iWatch estimates into its model and sees unit sales in the 30M-60M range for the firm 12 months. Shares are rated Overweight with a $110 price target, up from $98.57.
06:40 EDTAAPLApple responds to China broadcaster's privacy charges, China Daily says
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06:13 EDTNDAQNASDAQ upgraded to Overweight from Equal-Weight at Evercore
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06:08 EDTAAPLABI Research: Over 24M cars to be fitted with Apple CarPlay, DigiTimes says
ABI Research said that over 24M cars will be fitted with Apple (AAPL) CarPlay in 2019, reports DigiTimes. ABI Reserch said that the uptake in MirrorLink will also be fairly significant, but predicts more cars will be fitted with CarPlay. It cites several car makers to have the capabilities, including Ford (F), BMW, Audi, Mercedes, Jaguar/Land Rover, Toyota (TM), Nissan (NSANY), and Volvo (VOLVY). Reference Link
06:08 EDTMSFTMicrosoft confirms plans to discontinue MapPoint, Streets & Tips
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06:05 EDTMSFTMicrosoft to expand coverage of free Windows licensing, DigiTimes reports
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05:44 EDTAAPLApple upgraded to Overweight from Equal Weight at Barclays
Barclays upgraded its rating on Apple (AAPL) shares to Overweight citing its channel checks which indicate near-term upside to consensus estimates and strong new products into 2015. The firm also believes troubles at Samsung are creating an opportunity for Apple to regain market share. Barclays raised its price target for Apple shares to $110 from $95. The stock closed Friday at $95.22.
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