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Stock Market & Financial Investment News

News Breaks
March 18, 2014
12:41 EDTGME, ICE, MSFT, PVA, WMT, NDAQ, HTZ, AAPLOn 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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April 15, 2015
09:35 EDTAAPLActive equity options trading on open
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08:56 EDTAAPLVIX methodology for Apple elevated at 35.58
VIX methodology for Apple (VXAPL) at 35.58 compared to its 50-day moving average of 28.57.
08:01 EDTAAPLApple services profit contribution rising, says UBS
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06:35 EDTAAPLSamsung says Galaxy S6 demand much stronger than expected, Reuters reports
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06:18 EDTAAPLApple, Google, others doubling down on European operations, WSJ reports
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06:17 EDTMSFTCiti cuts Microsoft estimates, price target ahead of Q3 results
Ahead of the tech giant's Q3 results on April 23 and analyst day on April 29, Citigroup cut its below consensus estimates for Microsoft to reflect currency headwinds, lower PC units and reductions in commercial licensing. Citi's FY15, FY16 and FY17 earnings estimates now stand at $2.59, $2.71 and $2.90. The firm believes further contraction to Microsoft’s valuation multiple is possible given downside risk to consensus numbers and "medium-term uncertainty on multiple fronts." It believes the tech giant's strategic issues, including Windows challenges and the cloud transition, have no easy answers. Citi cut its price target for Microsoft shares to $36 from $38 and keeps a Sell rating on the name.
06:14 EDTAAPLSamsung may be borrowing from Apple profit margin strategy, WSJ reports
Samsung (SSNLF) could be borrowing from Apple's (AAPL) profit margin strategy by charging customers $100 more for each incremental gain in storage capacity, reports the Wall Street Journal. IHS senior director of research and analytics Andrew Rassweiler said it costs Samsung makes an extra $87 in profit each time it sells a 64-gigabyte Galaxy S6 and an extra $160 each time it sells a 128-gigabye device. Rassweiler adds that Apple has been structuring its iPhone offerings like this for years to improve margins. Reference Link
05:55 EDTAAPLSmart wearaable device vendors avoid Apple Watch competition, DigiTimes says
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April 14, 2015
18:32 EDTWMTCourt rules Wal-Mart can reject shareholder proposal on gun sales, WSJ says
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17:45 EDTAAPLApple acquires Israel-based camera-technology company LinX, WSJ says
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16:00 EDTAAPLOptions Update; April 14, 2015
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12:01 EDTAAPLApple says ResearchKit now available to medical researchers
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11:04 EDTMSFTMicrosoft acquires Datazen Software, terms not disclosed
Microsoft announced in a blog post the acquisition of Datazen Software, "an industry leader in mobile business intelligence and data visualization on Windows, iOS and Android devices. This acquisition accelerates our Power BI strategy to help organizations create a data culture with easy-to-use, accessible tools to extract maximum value from data – from anywhere, on any device... Beyond great technology, this acquisition brings a group of talented people to Microsoft. They will help us continue to deliver a broad range of products and services that will empower organizations around the world capitalize on their data opportunities." Reference Link
10:27 EDTAAPLSamsung's Galaxy S6 Edge costliest phone to build, Re/code reports
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09:43 EDTAAPLApple to discuss future of iOS and OS X at conference on June 8
Apple announced that it will hold its 26th annual Worldwide Developers Conference June 8 through June 12 at San Francisco’s Moscone West. At WWDC, Apple’s developer community will come together to learn about the future of iOS and OS X. WWDC will feature more than 100 technical sessions, over 1,000 Apple engineers, hands-on labs to help developers integrate technologies and fine tune their apps. Reference Link
09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN PBR SU NFLX ALU BIDU TSLA JNJ GE
08:40 EDTAAPLSeveral signs suggest Apple may build a car, says Bernstein
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05:48 EDTAAPLReport: Foxconn engaged in selling second-hand iPhones in China, DigiTimes says
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05:46 EDTMSFTMicrosoft's Surface 3 expected to see weak sales, DigiTimes Research reports
Microsoft's Surface 3 is expected to see low shipments and weak sales due to fiercer competition than those for its Surface Pro 3, reports DigiTimes Research. The Surface 3, priced over $600, is expected to only have limited impact on other branded 2-in-1 products, which are priced below $350 on average. Reference Link
05:46 EDTMSFTMicrosoft offers fee cut to attract vendors to pre-install apps, DigiTimes says
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