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October 9, 2015
05:20 EDTAMZNPhilips strengthens collaboration with Amazon Web Services
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October 8, 2015
16:02 EDTAMZNOptions Update; October 8, 2015
iPath S&P 500 VIX Short-Term Futures down 1.04 to 21.22. Option volume leaders: AAPL NFLX FB TWTR BAC EMC TSLA GE HUN FCX P BABA AA INTC AMZN GPRO
14:24 EDTAMZNEtsy drops 4% after Amazon launches Handmade marketplace
Retail marketplace Etsy (ETSY), which focuses on handmade, vintage, and craft items, is falling intraday after the launch of a competing service from (AMZN). WHAT'S NEW: Handmade at Amazon went live on Thursday with more than 80,000 items from about 5,000 sellers in multiple countries. Amazon VP Peter Faricy, who is overseeing Handmade, said, "You can think of it as a factory-free zone, a mass-produced-free zone. For the first time on Amazon, we're going to have a picture of the artist, a little icon of what state they're from, what country they're from. We're going to launch with an experience that's very different. Customers are going to see the difference." WHAT'S NOTABLE: While Handmade at Amazon promotes strictly "unique, handcrafted goods" that must meet Amazon's definition of handmade, Etsy has allowed sellers to use manufacturing partners since 2013, which has caused issues and backlash around mass-manufactured items posing as handmade items. PRICE ACTION: Etsy is trading down about 4% to $13.63 in afternoon trading, while Amazon shares are lower by 2.5%.
13:39 EDTAMZNAmazon Web Services announces AWS IoT
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12:20 EDTAMZNOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Dow a bit higher, the S&P little changed and the Nasdaq lagging. The averages began the session uniformly in negative territory, but began to pare their losses almost immediately, then spent the rest of the morning teetering near the flat line. The tepid action is not surprising as investors await the release of the minutes from last month's FOMC rate setting meeting. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped to 263,000 in the week ended October 3, versus expectations for 273,00 first-time claims. Investor attention is clearly focused on this afternoon's release of the FOMC minutes for the September 16-17 policy meeting, given the Fed's surprise decision to delay liftoff at that time. The minutes are scheduled to be released at 2 pm EDT. In Asia, markets were mixed, with Japan, Hong Kong, Taiwan and India all seeing some profit taking following days of strong gains, though mainland China re-opened for the first time since last Wednesday following the Golden Week holiday and saw a catch-up rally that pushed the Shanghai composite up about 3%. COMPANY NEWS: EMC (EMC) rose over 5.5% in early trading amid conflicting reports regarding M&A talks between the IT services and software company and Dell, which is privately owned by founder Michael Dell and private-equity partner Silver Lake. Last night, The Wall Street Journal reported that Dell and Silver Lake are in "advanced talks" to buy EMC, noting that one source indicated the deal being discussed calls for the buyers to spin off EMC's VMware (VMW) unit. Then, Re/code's Arik Hesseldahl reported that EMC has approached Dell in recent weeks about selling its VNX data storage business to the private technology company, but contended that acquiring a unit would make more logical and financial sense for Dell than buying all of EMC. However, CNBC's David Faber subsequently said, in keeping with the Journal, that Dell is in talks to acquire all of EMC for "above $27 per share," adding that a deal could be announced as soon as a week from now. Several analysts weighing in on the potential for a deal expressed doubt that a takeover of EMC by Dell is likely, but agreed that some alternate deal may make sense, adding that a potential Dell-EMC tie-up would be negative for HP Enterprise (HPQ)... Shares of eBay (EBAY) were among the worst performing on the S&P 500, sliding almost 8% near noon. The weakness in the online marketplace operator followed a report from e-commerce solutions and data provider ChannelAdvisor (ECOM), which estimated that eBay's same-store sales growth decelerated to 1.1% in September from August's 3.4% rate. In the same blog post, ChannelAdvisor reported that Amazon's (AMZN) same-store sales grew 19.2% in September, noting that was a decrease compared to August's 24.7% SSS growth rate. MAJOR MOVERS: Among the notable gainers was Tronox (TROX), which jumped 18.5% after Bloomberg reported that Apollo Global (APO) was mulling a takeover of Chemours (CC) as a potential first step in then consolidating titanium-dioxide makers. Shares of Chemours gained 7.5% following the report. Also higher were Polycom (PLCM) and Mitel (MITL), which gained 15% and 17%, respectively, after Elliott Management disclosed stakes in both companies and urged the two to consider a combination. Among the noteworthy losers was BioCryst (BCRX), which dropped 21% after the company said it completed patient enrollment in its clinical trial of orally-administered avoralstat in patients with hereditary angioedema, noting that without a deferral an NDA filing would occur in 2018. That NDA timing estimate was further out than prior comments from the company. Also lower was GoPro (GPRO), which fell 5.7% after Cleveland Research downgraded the stock to Neutral from Buy and lowered estimates below consensus to reflect deterioration in action camera shipments. INDEXES: Near midday, the Dow was up 25.75, or 0.15%, to 16,938.04, the Nasdaq was down 30.53, or 0.64%, to 4,760.62, and the S&P 500 was barely changed at 1,995.32.
11:43 EDTIBMIBM October weekly options active
IBM October weekly 152.5 and 155 calls are active on total call volume of 11K contracts (4K puts) on speculation an activist investor has taken a stake. October weekly call option implied volatility is at 25, October and November is at 21; compared to its 52-week range of 14 to 31. Active call volume suggests traders taking positions for price movement.
11:26 EDTIBMRumor: IBM moves higher on speculation an activist investor has taken a stake
10:15 EDTAMZNGroupon retreats after analyst starts coverage with sell rating
The shares of Groupon (GRPN) after falling after research firm Cowen initiated coverage of the stock with an Underperform rating, the firm's equivalent to a sell, warning that the company's operating margins are "low and trending down." WHAT'S NEW: Groupon's margins are "steadily deteriorating" as the company has lowered the amount it charges retailers who participate in its Services deals, Cowen analyst Kevin Kopelman reported. Moreover, Groupon has begun subsidizing the discounts that Services merchants offer, the analyst said. Meanwhile, the coupon company's Shopping business carries much lower margins than its Services unit and its efforts to raise Shopping's margins have yielded "choppy" progress, according to Kopelman. The year-over-year growth of Groupon's active North America customer base dropped to 10% in Q2, from 18% in the second quarter of 2014, indicating that its core market has peaked, the analyst stated. Noting that Groupon has identified food delivery as its next growth catalyst, Kopelman warned that the space is "hyper-competitive." Yelp (YELP), Amazon (AMZN) and Uber have all announced plans to enter the sector, noted the analyst, who believes that it will be difficult for Groupon to generate return on investment in the space. Kopelman set a $2.75 price target on Groupon. WHAT'S NOTABLE: Grubhub (GRUB) is a key player in the Internet food delivery space. PRICE ACTION: In early trading, Groupon fell 3.7% to $3.68, while GrubHub lost 1% to $28.18.
10:14 EDTIBMThomson Reuters, IBM partner to deliver Watson computing technology
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09:17 EDTAMZNChannelAdvisor says Amazon September SSS up 19.2%, eBay up 1.1%
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07:59 EDTADBEAdobe earnings outlook appears conservative, says UBS
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06:26 EDTJCPJ.C. Penney hires Mcgarrybowen to help lead revival, Adweek reports
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05:58 EDTIBMOptions expected to be active: EMC VMW IBM HPQ ORCL AA DB LL
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05:58 EDTAMZNAmazon launches Handmade at Amazon
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October 7, 2015
16:22 EDTADBEOn The Fly: Top stock stories for Wednesday
Stocks began the session in positive territory, rallying in tandem with the price of crude, which has been on a tear over the past week. With crude oil prices getting close to $50 per barrel, stocks opened with moderate gains, though those evaporated after the weekly energy inventory report showed a higher than expected build up in crude. The averages waffled back and forth across the flat line as oil prices recovered. The equity buyers emerged, pushing the market to solid gains and back on its winning track. ECONOMIC EVENTS: In the U.S., the EIA reported that crude oil inventories rose by 3.07M barrels in the week ending October 2, versus the consensus forecast for a 2.25M barrel build. Consumer credit grew $16B in August, versus expectations for it to be up $19.5B in the month. COMPANY NEWS: Yum! Brands (YUM) was the worst performer in the S&P 500, falling $15.71, or 18.83%, to $67.71 after the owner of the KFC, Taco Bell and Pizza Hut restaurant brands reported worse than expected quarterly results and lowered its fiscal year guidance. Yum cited a slower than expected recovery in its sales in China, as well as stronger foreign exchange headwinds, for its reduced outlook... Flash-based storage systems maker Pure Storage (PSTG) closed its first day of public trading at $16.01 per share, about $1 below the $17 per share price that it set for its initial public offering... Anheuser-Busch InBev (BUD) made a third proposal to combine with SABMiller (SBMRY), upping its offer for the rival brewing giant to 42.15 pounds a share. Altria Group (MO), SABMiller's largest shareholder, said it supports a proposal of GBP 42.15, or higher, with a partial share alternative, and would be prepared to elect the partial share alternative. However, SABmiller, said this morning that the new overture still undervalues it "very substantially." MAJOR MOVERS: Among the notable gainers was Freeport-McMoran (FCX), which advanced $1.16, or 9.79%, to $13.01 after adding two Carl Icahn representatives to its board, with Icahn himself remarking that shareholders will "generally" benefit from the move. Also higher was SunEdison (SUNE), which gained 11.9% to $9.72 after confirming that it will abandon its planned purchase of Latin American Power and remarking on a business update conference call that it would drop no assets into its two yieldcos, TerraForm Global (GLBL) and TerraForm Power (TERP), over the next year. Among the noteworthy losers was GoPro (GPRO), which fell $1.32, or 4.31%, to close at $29.33 after Morgan Stanley cut its price target on the stock after disappointing sales of the Session camera. During the trading day, shares of the action camera maker hit a lifetime record-low of $27.52. Also lower was Adobe (ADBE), which declined $4.50, or 5.28%, to $80.65 after issuing lower than expected fiscal year earnings guidance during the company's analyst day. Additionally, Nu Skin (NUS) crashed 25.6% to $34.64 after cutting its third quarter guidance, citing reduced sales of its new cosmetic oils in China. INDEXES: The Dow gained 122.10, or 0.73%, to 16,912.29, the Nasdaq advanced 42.79, or 0.9%, to 4,791.15, and the S&P 500 rose 15.91, or 0.8%, to 1,995.83.
15:14 EDTAMZNAmazon considering possible online service for live TV, Bloomberg says
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15:00 EDTAMZNAmazon exploring potential online TV service, Bloomberg says
Amazon (AMZN) is said to have reached out to CBS (CBS) and Comcast's (CMCSA) NBCUniversal about online TV, according to Bloomberg.
14:59 EDTADBETwitter, LinkedIn sign on to Google accelerated web project
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13:51 EDTAMZNAccenture, AWS to partner on cloud migration business group
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13:48 EDTAMZNAmazon adds QuickSight business intelligence service to AWS
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