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Stock Market & Financial Investment News

News For IBM;ADBE;BBY;WMT;AMZN;TGT;SHLD;NILE;JCP From The Last 14 Days
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January 23, 2015
16:01 EDTAMZNOptions Update; January 23, 2015
iPath S&P 500 VIX Short-Term Futures up 80c to 32.10. Option volume leaders: AAPL TSLA TWTR AMZN FB FXCM X GDP PBR according to Track Data.
09:36 EDTAMZNActive equity options trading
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08:07 EDTAMZNU.S. tech giants nervous about backlash in Europe, WSJ says
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January 22, 2015
16:30 EDTAMZNAmazon acquires Annapurna Labs, Re/code says
Amazon confirmed that it has acquired Annapurna Labs, an Israeli startup that designs networking chips for data centers, reports Re/code, citing a spokeswoman for Amazon’s AWS unit. Amazon declined to comment on the price of the transaction; however reports have the price at about $350M, Re/code adds. Reference Link
16:00 EDTAMZNOptions Update; January 22, 2015
iPath S&P 500 VIX Short-Term Futures down 2.13 to 31.32 Option volume leaders: AAPL TSLA TWTR AMZN FB FXCM AVP BAC according to Track Data.
11:37 EDTAMZNStocks with call strike movement; SNDK AMZN
SanDisk (SNDK) March 85 call option implied volatility decreased 13% to 31, Amazon.com (AMZN) April 340 call option implied volatility decreased 3% to 32 according to IVolatility.
10:35 EDTBBYOptions with decreasing implied volatility
Options with decreasing implied volatility: CZR ACHN NFLX SN NBR TLM CREE BBY LNCO BBRY
09:43 EDTAMZNActive equity options trading
Active equity options trading according to Track Data: AAPL DG ABX AMZN FXCM LVS FFIV INFI SD
09:02 EDTAMZNAmazon.com launches Kindle Textbook Creator
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07:11 EDTAMZNAmazon.com Web Services unit worth around $32B, says Piper Jaffray
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06:52 EDTAMZNAmazon.com in advanced talks to buy Israeli chipmaker, Calcalist says
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January 21, 2015
16:35 EDTIBMOn The Fly: Closing Wrap
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16:00 EDTAMZNOptions Update; January 21, 2015
iPath S&P 500 VIX Short-Term Futures down 1.63 to 33.49. Option volume leaders: AAPL TSLA TWTR AMZN FB RIG C ABX SIRI NFLX according to Track Data.
15:51 EDTAMZNAmazon.com upgraded to Buy ahead of earnings at BGC Financial
As previously reported, BGC Financial analyst Colin Gillis upgraded Amazon.com to Buy from Hold ahead of the company's upcoming earnings report, citing expectations for the end of its Hachette dispute to improve North American media sales and profitability in the near-term and for the company's ecosystem building and advertising business to benefit it over the long-term. Gillis, who expects Amazon to turn profits in its December and March quarters, maintains a $340 price target on the stock.
15:45 EDTAMZNAmazon.com upgraded to Buy from Hold at BGC Financial
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13:38 EDTWMTEarnings Preview: eBay shares rise over 5.5% since last earnings report
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12:24 EDTIBMOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, as details of a reported bond buying program planned by the ECB offset weakness in the Dow after IBM's (IBM) earnings report. ECONOMIC EVENTS: In the U.S., housing starts rose 4.4% in December to a 1.89M rate, versus expectations for an increase of 1.2%, while building permits fell 1.9% to a rate of 1.03M, versus expectations of an increase of 0.8%. The Bank of Canada lowered its target for the overnight rate by one-quarter of one percentage point to 0.75% in response to the recent sharp drop in oil prices, which it said will be negative for growth and underlying inflation in Canada. Reports indicated that a proposal from the European Central Bank’s executive board is calling for it to begin making bond purchases of about EUR 50B per month and continue that easing program for at least one year. In Asia, the Bank of Japan refrained from expanding its stimulus program, although it expanded and extended its loan programs aimed at boosting bank lending. Also, the BoJ cut next fiscal year's CPI forecast to 1.0% from the 1.7% it had projected three months ago. COMPANY NEWS: Last night, IBM reported better than expected Q4 earnings, though its revenue and FY15 profit outlook trailed estimates, sending the stock down over 3% this morning. Citigroup cut its price target for IBM shares to $170 from $180 after reducing its sales and earnings estimates following the tech giant's Q4 results. Citi reiterated a Neutral rating on IBM, saying it wants to see stability in fundamentals and free cash flow growth before getting more positive on the name. Meanwhile, Jefferies said IBM's cash flow guidance for 2015 is "very weak" and that the company has yet to reach a bottom. The firm continues to believe the risk/reward for shares is skewed negatively and it kept an Underperform on IBM with a $130 price target following the company's Q4 results... Netflix (NFLX) jumped 17% to trade near $409 per share after the company reported stronger than expected fourth quarter results and a number of research firms raised their price targets for the stock while pointing out the company's global subscriber growth had exceeded expectations. Bucking the trend, FBR Capital analyst Barton Crockett said Netflix's EPS would only have been in-line with the consensus outlook if non-operating items were excluded. He said he is less impressed with Netflix following its report and trimmed his price target on the stock to $400 from $425 while keeping a Neutral rating on the shares. MAJOR MOVERS: Among the notable gainers following their earnings reports were Northern Trust (NTRS), which rose 6%, and U.S. Bancorp (USB), which gained 3.5%. Among the noteworthy losers was Eldorado Gold (EGO), which dropped 19% after the company reported on its 2014 gold production, gave guidance on production in 2015, and its shares were downgraded at Credit Suisse, TD Securities and Canccord. Also lower was Acacia Research (ACTG), which fell more than 14% after a court granted a motion finding no infringement of certain method claims asserted by the company's Adaptix subsidiary against Apple(AAPL), Verizon (VZ), AT&T (T), and HTC. INDEXES: Near midday, the Dow was up 42.03, or 0.24%, to 17,557.26, the Nasdaq was up 27.36, or 0.59%, to 4,682.21, and the S&P 500 was up 12.25, or 0.61%, to 2,034.80.
12:12 EDTSHLD, BBY, JCPBest Buy, home retailers seen getting biggest bump from Sears demise
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11:34 EDTAMZNAmazon pulling plug on Amazon Wallet app beta, CNet reports
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11:28 EDTAMZNAmazon.com spikes higher on heavy volume, retraces, levels to watch
The stock has been on a wild set of turns in price in the last 20 minutes, trading as high as $306 for the day, but last at $296.51. Volume is heavy. There was a rumor circulating that Carl Icahn was taking a position in the company with some plan to spin off its web services. CNBC's David Faber and Scott Wapner have said sources indicate Icahn has no position in the stock at all. At last price resistance is at the $300 area, support is at $294.12.
11:19 EDTAMZNCarl Icahn owns no Amazon.com, CNBC's Faber reports
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11:18 EDTAMZNIcahn has no stake in Amazon.com, CNBC's Wapner says
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11:17 EDTAMZNAmazon.com spikes 6% to $305.93 amid social media chatter
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11:06 EDTAMZNAmazon.com volatility increases as shares rally
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10:47 EDTBBYOptions with decreasing implied volatility
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10:01 EDTWMTOn The Fly: Analyst Downgrade Summary
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09:20 EDTIBMIBM CFO optimistic about 2015 due to rapid growth in cloud unit, CNBC says
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09:16 EDTIBMOn The Fly: Pre-market Movers
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09:10 EDTAMZNSenate Commerce, Science & Transportation Committee holds a hearing
The Committee holds a hearing entitled, "Protecting the Internet and Consumers through Congressional Action" featuring non-government expert witnesses testifying about current authorities of the FCC and Congress’ options to update outdated laws for the Internet Age with Vice President of Amazon.com, Paul Misener on January 21 at 2:30 pm.Webcast Link
08:43 EDTAMZNAmazon discontinues Amazon Elements line of diapers, Re/code reports
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08:00 EDTAMZNHouse Energy & Commerce Committee to hold a hearing
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07:53 EDTIBMIBM cash flow guidance 'very weak,' says Jefferies
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06:52 EDTWMTWal-Mart downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley downgraded Wal-Mart to Equal Weight citing balanced risk/reward and lack of margin growth due to potential re-investments.
06:18 EDTIBMIBM price target lowered to $170 from $180 at Citigroup
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06:17 EDTAMZNOverstock to introduce streaming-video service later this year, WSJ reports
Overstock.com (OSTK) is planning to launch a streaming-video service later this year, CEO Patrick Byrne announced at the National Association of Television Program Executives conference, The Wall Street Journal reports. Overstock would compete in the space with Amazon (AMZN), Hulu (DIS, CMCSA, CMCSK, FOXA), Netflix (NFLX), and Time Warner's (TWX) HBO is also planning a standalone online streaming service that will launch this year. The new Overstock service would be tied to the company's $20-per-year Club O membership program and will launch with about 30,000 titles. Reference Link
05:53 EDTIBMStocks with implied volatility movement; IBM QCOM
Stocks with implied volatility movement; IBM (IBM) 27, Qualcomm (QCOM) 33 according to iVolatility.
January 20, 2015
18:30 EDTIBMOn The Fly: After Hours Movers
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17:07 EDTIBMIBM says Cloud investments continue to impact margins
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17:05 EDTIBMIBM says revenue as reported in 2015 will not grow
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16:56 EDTIBMIBM says $6.3B left on buyback authorization at year-end
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16:39 EDTIBMIBM ended year with $8.5B cash on hand
Comment from Q4 earnings conference call.
16:28 EDTIBMIBM reverses and is now down over 2% in after-hours trading
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16:21 EDTIBMIBM sees FY15 EPS $15.75-$16.50, consensus $16.53
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16:15 EDTIBMIBM reports $128B services backlog
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16:13 EDTIBMIBM reports Q4 revenue from Hardware down 39%
Revenues from continuing operations for the Systems and Technology segment totaled $2.4B for the quarter, down 39% (down 12 percent, adjusting for the impact of the divested System x business and currency) from the fourth-quarter of 2013. Systems and Technology pre-tax income increased 12% and pre-tax margin increased to 15.5%. Pre-tax income and margin include the impact of the fourth-quarter workforce rebalancing charge. Revenues from Power Systems were down 13% (down 11 percent, adjusting for currency) compared with the 2013 period. Revenues from System z mainframe server products decreased 26% (down 23 percent, adjusting for currency). Revenues from System Storage decreased 8 percent (down 5 percent, adjusting for currency).
16:11 EDTIBMIBM reports Q4 revenue from Software Segment revenue down 7%
Revenues from the Software segment were $7.6B, down 7% (down 3 percent, adjusting for currency) compared with the fourth-quarter of 2013. Software pre-tax income decreased 11% and pre-tax margin decreased to 44.7%. Pre-tax income and margin include the impact of the fourth-quarter workforce rebalancing charge. Revenues from IBM’s key middleware products, which include WebSphere, Information Management, Tivoli, Workforce Solutions and Rational products, were $5.4B, down 6% (down 3 percent, adjusting for currency) versus the fourth-quarter of 2013. Operating systems revenues of $557M were down 19% (down 16 percent, adjusting for currency) compared with the prior-year quarter.
16:10 EDTIBMIBM reports Q4 Global Services segment revenue down 8%
Global Services segment revenues decreased 8% to $13.5B. Global Technology Services segment revenues decreased 8 percent (up 2 percent adjusting for the impact of the divested customer care outsourcing and System x businesses and for currency) to $9.2B. Global Business Services segment revenues were down 8% (down 3 percent, adjusting for currency) to $4.3B. Pre-tax income from Global Technology Services decreased 26% and pre-tax margin decreased to 15.6%. Global Business Services pre-tax income decreased 22% and pre-tax margin decreased to 16.4%. Pre-tax income and margin include the impact of the fourth-quarter workforce rebalancing charge. The estimated services backlog at December 31, 2014 was $128B, flat year to year adjusting for the divested customer care outsourcing and System x businesses and currency.
16:07 EDTIBMIBM reports Q4 EPS $5.81, consensus $5.41
Reports Q4 revenue $24.1B, consensus $24.77B.
15:24 EDTIBMEarnings Preview: IBM estimates cut by Jefferies, BofA ahead of report
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15:21 EDTIBMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include IBM (IBM), consensus $5.41; Netflix (NFLX), consensus 45c; CA Technologies (CA), consensus 60c; Cree (CREE), consensus 22c; Woodward (WWD), consensus 46c; Fulton Financial (FULT), consensus 21c; Advanced Micro Devices (AMD), consensus 1c; Interactive Brokers (IBKR), consensus 6c; Pinnacle Financial (PNFP), consensus 53c.
14:28 EDTIBMIBM January weekly 155 straddle priced for 4.1% movement into Q4
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13:29 EDTIBMIBM technical notes ahead of earnings
The stock is trading close to its 52-week low and multi-year low at $150.50 ahead of earnings news. At the current price of $154.47 it would not take much in the form of negative news for that low to be tested. On a breakdown below $150, next support would be at $146.30, $141.18, and $135.23. If the news is not as negative as traders appear to be positioned for, the following resistance levels could become upside objectives: $159.45, $164.25, and $168.69.
13:01 EDTWMTWal-Mart launches cash pickup option for tax refunds
As Americans begin to file their tax returns, Walmart (WMT) announced the launch of a first-of-its-kind service that allows consumers to “skip the check” and pick up their tax refunds in cash. Walmart Direct2Cash is available nationwide starting today and will help customers save time and money when compared to traditional tax refund options. Walmart is working with Tax Products Group, a Green Dot Company (GDOT), and Republic Bank & Trust Company, member FDIC, two providers of tax-related financial products and services, to provide Walmart Direct2Cash as an option to millions of customers. The more than 25,000 tax preparation locations using software with the Walmart Direct2Cash option may provide this service for no additional fee or charge a maximum of $7 at the time of filing. Walmart does not charge customers a fee when refunds are claimed in a store.
12:01 EDTSHLDOverstock.com to appeal patent infringement case
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10:20 EDTBBYOptions with decreasing implied volatility
Options with decreasing implied volatility: RPRX TLM BBY GME CBST NPSP
09:52 EDTAMZNAmazon.com's Q4 revenue trending to $29.5B vs. consnesus of $29.7B at ITG
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09:44 EDTWMT, TGTSupreme Court denies appeal of 'swipe fee' ruling, Reuters reports
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09:38 EDTAMZNActive equity options trading
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08:17 EDTAMZNPattern Energy to supply power to Amazon Web Services
Pattern Energy Group (PEGI) announced it has entered into a 13-year power purchase agreement, or PPA, to supply power to Amazon Web Services, or AWS, an Amazon.com (AMZN) company. AWS will acquire the production from the 150 megawatt Fowler Ridge IV Wind project, to be renamed Amazon Web Services Wind Farm.
08:01 EDTAMZNAmazon Web Services to use wind farm power to supply datacenters with power
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07:39 EDTIBMIBM January weekly volatility elevated into Q4 and outlook
IBM January weekly call option implied volatility is at 53, February is at 25, April is at 22; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q4 results today after the market close.
06:22 EDTJCPJ.C. Penney to bring back 120-page catalog, WSJ reports
J.C. Penney has decided to resurrect its catalog in the form of a 120-page book that will mark the first catalog the chain has sent out since 2010, The Wall Street Journal reports. The retailer, which quit the catalog amid a broader pullback caused by the recession and the rise of e-commerce, now believes the catalog can help drive web sales. Reference Link
January 19, 2015
11:14 EDTAMZNAmazon to produce original movies for theaters, Prime Instant Video
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January 16, 2015
16:36 EDTTGTMarket finishes week lower on continued oil, global growth worries
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16:00 EDTAMZNOptions Update; January 16, 2015
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11:04 EDTSHLDFAA proposes $533,000 civil penalty against Sears Holdings
The U.S. Department of Transportation’s Federal Aviation Administration proposes a $533,000 civil penalty against Sears Holdings Management Corp. for allegedly violating Hazardous Materials Regulations. The FAA alleges that Sears on Dec. 20, 2012 offered UPS 27 boxes, each containing one DieHard Portable Power Supply that encased a non-spillable battery, for air transportation to various locations in the United States. Workers at the UPS sort facility in Louisville, Ky., discovered six of the corrosive shipments were vibrating and one was warm to the touch. The FAA alleges that Sears failed to package the batteries in accordance with the Hazardous Materials Regulations to prevent unintentional activation. The agency also alleges the shipment was not accompanied by shipping papers to indicate the hazardous nature of its contents, and was not marked or labeled. Additionally, Sears offered the shipment without providing emergency response information and failed to ensure its employees had received required hazardous materials training, the FAA alleges. Sears has 30 days from the receipt of the FAA's enforcement letter to respond to the agency.
10:15 EDTBBYOptions with decreasing implied volatility: BBY ETE CBST
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10:12 EDTWMTSprint unit Virgin Mobile to offer no contract data sharing plans
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10:01 EDTTGTOn The Fly: Analyst Upgrade Summary
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09:37 EDTAMZNActive equity options trading
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08:13 EDTBBYBest Buy shares attractive after pullback, says RBC Capital
After Best Buy provided guidance for flat to down comps and EBIT contraction for the first half of fiscal 2016, RBC Capital remains upbeat on the stock due to the company's market share gains and what the firm sees as improving product cycles. RBC Capital trimmed its price target on the stock to $42 from $45 but keeps an Outperform rating.
07:55 EDTTGTChildren's Place Carter's may have opportunity from Target move, say Oppenheimer
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07:23 EDTTGTTarget upgraded at BofA/Merrill
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06:11 EDTAMZNEU says Amazon's tax deal with Luxembourg may violate laws, WSJ reports
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January 15, 2015
16:20 EDTBBY, TGTOn The Fly: Closing Wrap
Stocks on Wall Street had a see-saw trading day, with every attempt at getting the averages into positive territory being met with more selling. The market spent most of the day in negative territory, however, as the latest bank earnings reports failed to impress investors, the price of oil renewed its downtrend, and the Swiss National bank withdrew its floor support on the Swiss franc. ECONOMIC EVENTS: Internationally, Switzerland's central bank unexpectedly gave up its minimum exchange rate, sending the Swiss franc soaring against the dollar and euro and triggering wild swings in its equity markets. In the U.S., initial jobless claims rose 19K to 316K in the week ended January 10, versus expectations for 298K first-time claims. The producer price index fell 0.3% in December, versus expectations for a decrease of 0.4%. The core PPI rate rose 0.3% in the month, versus expectations for it to be up 0.1%. The Empire State index rebounded to 9.95 in January, beating expectations for a 5.0 reading for the measure of manufacturing activity in the New York area. The Philly Fed index fell 18.0 points to 6.3 in January, which was worse than the projected pullback to a reading of 18.7. WTI crude oil, the U.S. benchmark, reversed its early gains to end the trading session down 4.6% at $46.25 per barrel. COMPANY NEWS: Shares of Target (TGT) advanced $1.34, or 1.8%, to $75.67 after the retailer announced plans to stop operating stores in Canada. Target expects this decision will increase its earnings in fiscal 2015 and beyond, and increase its cash flow in fiscal 2016 and beyond. The company also raised its forecasts for Q4 U.S. comparable sales growth and adjusted earnings per share, mostly due to increased traffic and stronger-than-expected digital sales... Bank of America (BAC) slid 84c, or 5.24%, to $15.20 after reporting its fourth quarter results, while Citigroup (C), which also issued its Q4 report, dropped $1.82, or 3.71%, to $47.23. MAJOR MOVERS: Among the notable gainers was Cliffs Natural Resources (CLF), which rose 93c, or 11.94%, to $8.72 amid strength in the basic materials sector. Also benefitting the stock may have been a Bloomberg report that said an adviser to Quebec's investment arm stated that Cliffs' closed down Bloom Lake mine has attracted interest from several potential buyers. Also higher were shares of Kraft Foods (KRFT), which climbed $2.92, or 4.66%, to $65.68 after Goldman Sachs upgraded the stock to Buy and placed the shares on its Conviction List. Also of note, the Consumer Analyst Group of New York confirmed to Bloomberg that the food and beverage manufacturer canceled its upcoming conference appearance. Among the noteworthy losers was Best Buy (BBY), which dropped $5.61, or 14.06%, to $34.30 after reporting holiday growth that was lower than previous quarters, citing factors including weakness in tablets, and guiding toward comparable sales in the first half of FY16, excluding certain items, to be flat to down by a low-single digit percentage. Also lower were shares of BlackBerry (BBRY), which declined $2.49, or 19.77%, to $10.10 after the company said last night that it is not in talks with Samsung (SSNLF) about a potential merger, rebutting a Reuters report. INDEXES: The Dow fell 106.38, or 0.61%, to 17,320.71, the Nasdaq dropped 68.50, or 1.48%, to 4,570.82, and the S&P 500 declined 18.60, or 0.92%, to 1,992.67.
16:17 EDTTGTTarget upgraded to Neutral from Underperform at BofA/Merrill
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16:01 EDTAMZNOptions Update; January 15, 2015
iPath S&P 500 VIX Short-Term Futures up 1.01 to 36.13. Option volume leaders: AAPL TSLA TWTR AMZN FB C CLF ABX SUNE according to Track Data.
14:51 EDTBBYFollow-up: Best Buy guidance likely conservative, says BofA/Merrill
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14:28 EDTBBYBest Buy guidance likely conservative, says BofA/Merrill
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14:09 EDTTGTTarget downgraded at Stifel
As previously reported, Stifel downgraded Target to Hold from Buy. The firm believes near-term tactical opportunities are play out and management commentary indicates investments will be necessary in order to modernize.
13:47 EDTTGTTarget downgraded to Hold from Buy at Stifel
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12:26 EDTTGT, BBYOn The Fly: Midday Wrap
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12:13 EDTAMZNAmazon's Twitch unit to allow users to stream music
In a blog post Amazon.com's Twitch unit said it will allow users to stream music on its online gaming platform. The company said: "Today we’re announcing two important music initiatives: the Twitch Music Library and the beta Music category.The Twitch Music Library, is a library of songs pre-cleared for Twitch broadcasters to use live and with VODs. As you may recall, we implemented an audio recognition system last year out of respect for copyright holders and to protect both our broadcasters and our brand. We knew it was equally important to ensure broadcasters had music options. Thus, the Twitch Music Library was born to offer safe passage through the less-than-clear legal landscape when it comes to audio rights. The Twitch Music Library features more than 500 songs provided by established and burgeoning labels, including Mad Decent, Dim Mak, Spinnin’ Records, OWSLA, Monstercat, Fool’s Gold, and many more. We are also announcing an experiment with music content creators: our beta Music category. The Music category—listed among the game titles you can designate for a broadcast—is for musicians to use for creating, performing, and presenting original music." Reference Link
11:58 EDTTGTTarget sees accelerating plans to expand CityTarget
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11:46 EDTTGTTarget says Canada exit will allow quicker return to share repurchases
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11:43 EDTTGTTarget says 'vast majority' of Canada exit costs are non-cash
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10:35 EDTTGTTarget viewed unchanged after Canada exit, says RW Baird
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10:22 EDTTGTTarget rallies after moving to close Canadian operations, levels to watch
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10:19 EDTBBYOptions with decreasing implied volatility
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10:12 EDTTGTTarget to host business news update conference call
Conference call to discuss Target Canada granted CCAA order will be held on January 15 at 11:30am. Webcast Link
10:04 EDTTGTTarget exit from Canada came sooner than expected, says Wells Fargo
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09:46 EDTTGTTarget Canada granted CCAA order
Target announced that Target Canada has obtained an Initial Order from the Ontario Superior Court of Justice for creditor protection under the Companies' Creditors Arrangement Act, or CCAA, earlier this morning. The Initial Order authorizes Target Canada to begin a court-supervised wind-down of its Canadian businesses. It also provides for a broad stay of proceedings against Target Canada and authorizes Target to provide a debtor-in-possession credit facility of $175M to finance Target Canada’s operations during the CCAA proceedings. Note that Target announced earlier that it has decided to discontinue operations in Canada.
09:44 EDTBBYBest Buy tumbles on outlook, levels to watch
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09:36 EDTAMZNActive equity options trading
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09:24 EDTWMTEpiq Systems to hold a webinar
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09:15 EDTBBY, TGTOn The Fly: Pre-market Movers
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09:02 EDTAMZNAmazon says first pilot season of 2015 available on Instant Video
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08:58 EDTIBMIBM January weekly volatility elevated at 39 into Q4 and outlook
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08:41 EDTTGTTarget raises Q4 adjusted EPS view to $1.43-$1.47, may not compare to $1.21
Based on performance through November and December, Target now expects to report Q4 U.S. comparable sales of approximately 3%, better than prior guidance of approximately 2%, driven primarily by increased traffic and stronger-than-expected digital sales. Sees Q4 adjusted EPS, reflecting results from continuing operations, of $1.43-$1.47, about 6c ahead of expectations for U.S. Segment performance at the beginning of the quarter. The company is not able to provide an estimate of its expected Q4 GAAP EPS. However, GAAP results are expected to include: Losses related to liquidation of Target Canada,net of taxes; Net expenses related to the 2013 data breach, which are not expected to be material; the impact of the reduction of the beneficial interest asset recognized in connection with the 2013 sale of the company’s credit card portfolio, which is expected to reduce GAAP EPS by approximately 2c.
08:30 EDTAMZNEU to publish details of Amazon's tax deal with Luxembourg, Reuters reports
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08:28 EDTTGTTarget to report Canadian operations as discontinued starting in Q4
As a result of the Canada decision, Target Corporation will operate as a single segment that includes all U.S. operations. Beginning with the company’s Q4 financial results, Target will report adjusted earnings per share reflecting operating results from its U.S. operations, excluding discontinued Canadian operations, the impact of the reduction of the beneficial interest asset recognized in connection with the 2013 sale of the Company’s U.S. consumer credit card portfolio, net expenses related to the 2013 data breach, and the resolution of certain tax matters.
08:27 EDTTGTTarget to exit Canadian operations, sees move raising earnings in FY15 and after
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08:24 EDTTGTTarget volatility flat into discontinuation of Canadian operations
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08:23 EDTTGTTarget jumps after announcing plans to exit Canadian operations
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08:21 EDTTGTTarget sees reporting $5.4B pre-tax losses on discontinued operations in Q4
08:19 EDTTGTTarget to discontinue Canadian operations
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07:07 EDTBBYBest Buy sees y/y pressure on operating income rate as early as 1Q16
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07:05 EDTBBYBest Buy sees impact of external pressures continuing in FY16
The company says, "We do expect the impact of the external pressures he laid out to continue throughout FY16 and the impact of the incremental investments to begin in the first quarter. Additionally, we believe that the positive Domestic sales trends that we saw in mobile phones and home theater during the holiday period, in addition to the share gains we saw across other NPD-reported Consumer Electronics categories, were partially driven by the excitement around high-profile products and will not likely continue at holiday levels. As such, while we are excited about these investments and confident in our ability to execute against them, we are also appropriately cautious about the pressures. Therefore, we are currently expecting enterprise comparable sales in the first half of FY16, excluding the estimated impact of installment billing, to be flat to negative low-single digits and the non-GAAP operating income rate to be down approximately 30 to 50 basis points – reflecting a more modest sales environment and the impact of our incremental investments and SG&A inflation. We will more deeply discuss our growth initiatives, investments and external pressures in our fourth quarter earnings call in March – after we have completed our FY16 operating plans.”
07:05 EDTBBYBest Buy says increases Q4 outlook ex-Five Star business
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07:04 EDTBBYBest Buy CEO says holiday period growth rate lower than previous quarters
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07:03 EDTBBYBest Buy reports holiday period domestic revenue $10.13B, up 4.1% from last year
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07:01 EDTBBYBest Buy reports holiday domestic SSS up 2.6%
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January 14, 2015
18:18 EDTADBEOn The Fly: After Hours Movers
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16:26 EDTADBEAdobe announces $2.0B stock repurchase plan through FY17
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16:00 EDTWMT, AMZNOptions Update; January 14, 2015
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12:43 EDTAMZNAmazon.com falls, levels to watch
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10:27 EDTAMZNFacebook, Google seen at front of 'multi-year' positive run for Internet stocks
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10:21 EDTBBYOptions with decreasing implied volatility
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08:34 EDTIBMIBM estimates lowered at BofA/Merrill
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07:42 EDTAMZNEtsy looking to raise $300M with IPO as soon as this quarter, Bloomberg says
Etsy, which operates a website that allows people to sell handmade crafts, is working with Goldman Sachs (GS) and Morgan Stanley (MS) on an initial public offering that could come as soon as this quarter, said Bloomberg, citing people familiar with the matter. Etsy seeks to raise $300M via the offering, the report said. Publicly traded companies in the e-commerce space include Amazon.com (AMZN), eBay (EBAY), Alibaba (BABA) and zulily (ZU). Reference Link
07:13 EDTAMZNAmazon could buy controlling stake in Blue Dart, Economic Times reports
Amazon is said to be in preliminary talks to buy a controlling stake in Blue Dart, a courier and integrated express package distribution company, The Economic Times reports, citing sources. One source says Amazon could buy a 75% stake in Blue Dart held by DHL Express Singapore, though it was noted that talks are currently at an early stage. Reference Link
06:29 EDTADBECompanies reach new deal on worker hiring issue, Reuters says
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January 13, 2015
17:55 EDTIBMIBM launches the z13 mainframe after $1B investment
IBM announced the z13 mainframe system, capable of processing 2.5B transactions per day and it is the first system to make real-time encryption of all mobile transactions at any scale. z13 speeds real-time encryption of mobile transactions to help protect the transaction data and ensure response times consistent with a positive customer experience. The system includes 500 new patents including cryptographic encryption technologies that enable more security features for mobile initiated transactions. The system culminates a $1B investment and five years of development.
16:00 EDTAMZNOptions Update; January 13, 2015
iPath S&P 500 VIX Short-Term Futures up 66c to 34.42. Option volume leaders: AAPL JNJ CELG WFM TSLA TWTR AMZN GILD according to Track Data.
14:11 EDTAMZNAmazon.com climbs after Citi upgrades to buy
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10:30 EDTAMZNAmazon.com tests $300, levels to watch
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10:17 EDTJCP, BBYOptions with decreasing implied volatility
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10:00 EDTAMZN, BBYOn The Fly: Analyst Upgrade Summary
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09:07 EDTBBYOn The Fly: Pre-market Movers
HIGHER: Apple (AAPL), up 1.4% after Credit Suisse upgraded Apple to Outperform and raised its iPhone volume estimates again... Best Buy (BBY), up 2.8% after being upgraded to Buy from Neutral at Goldman... SunPower (SPWR), up 2.6% after being upgraded to Outperform at Credit Suisse... Alcoa (AA), up 2% after Q4 results beat expectations. RISING AFTER GUIDANCE: Pharmacyclics (PCYC), up 17.5%... CTI BioPharma (CTIC), up 8.3%... Emulex (ELX), up 15.5%... ARIAD (ARIA), up 2.6%. LOWER: ChannelAdvisor (ECOM), down 42% following preliminary fourth quarter revenue guidance and after receiving multiple analyst downgrades... Antares Pharma (ATRS), down 7.7% after the FDA recommended that the company create a larger safety database for its clinical development program for QuickShot Testosterone.
09:01 EDTAMZNAmazon Studios signs Woody Allen to create television series
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07:47 EDTADBEUBS to hold investor trip
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07:28 EDTAMZNAmazon says created, filled over 6,000 permanent jobs across EU in 2014
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07:26 EDTAMZNAmazon.com survey suggests solid growth trends, says RW Baird
Baird said their recent inventory survey for Amazon.com suggests solid growth trends in selection and marketplace. The firm sees the selection as a key growth driver for Amazon retail. Baird reiterated its Outperform rating and $340 price target on Amazon shares.
07:04 EDTIBMFederal court confirms halt to sales of chips used by SanDisk, IBM, others
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06:33 EDTIBMTeradata set to acquire Appoxee for about $20M, WSJ reports
Teradata (TDC) will buy Appoxee, a Tel Aviv-based mobile-marketing-automation startup, for around $20M, The Wall Street Journal reports, citing two sources. Teradata rival IBM (IBM) acquired Xtify, a mobile-marketing company, in 2013. Reference Link
06:30 EDTIBMCourt order bars sales of chips used by SanDisk and IBM, WSJ reports
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06:16 EDTAMZNAmazon.com upgraded to Buy from Neutral at Citigroup
Citigroup upgraded Amazon.com to Buy saying the risk/reward on shares is attractive below $300. Citi believes holiday data points look good for Amazon's Q4 results and that the retailer's gross margins will rise in 2015, reversing 2014's downward trend. The firm raised its price target for Amazon to $354 from $325 and thinks the stock has support around $300. Shares of the retailing giant closed yesterday down $5.52 to $291.41.
06:07 EDTAMZNAmazon sued for $25M by Durst Organization, Forbes reports
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05:49 EDTBBYBest Buy volatility elevated into holiday sales report
Best Buy January call option volatility is at 110, February is at 50, March is at 47; compared to its 26-week average of 37 according to Track Data, suggesting large price movement into holiday sales report.
05:39 EDTBBYBest Buy upgraded to Buy from Neutral at Goldman
Goldman Sachs upgraded Best Buy to Buy from Neutral saying a pick-up in advanced TV sales and good sector fundamentals should drive better than expected Q4 results. Goldman also thinks shares will react favorably to any capital allocation decisions made by management given the retailer's "hefty" cash position. It raised its price target for shares to $45 from $38. Best Buy closed yesterday up $1.03 to $39.09.
January 12, 2015
16:00 EDTAMZNOptions Update; January 12, 2015
iPath S&P 500 VIX Short-Term Futures up 1.57 to 33.54. Option volume leaders: AAPL TSLA TWTR AMZN AA SIRI RIG FRO C according to Track Data.
11:51 EDTIBMIBM results seen being hurt by continued dollar strength
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11:41 EDTNILETiffany plummets after cutting fiscal 2014 profit outlook
Shares of jewelry and accessories retailer Tiffany (TIF) are sinking after the company lowered its profit outlook for fiscal 2014. Additionally, the company reported holiday sales for the two-month period ended December 31 were 1% below prior year levels. WHAT'S NEW: Tiffany this morning reported sales results for the two-month holiday period ended December 31. For the period, the company reported worldwide net sales of $1.02B, 1% below the prior year. Worldwide net sales increased 3% and comparable sales were even with the prior year on a constant-exchange-rate basis, which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars. WHAT'S NOTABLE: Tiffany cut its FY14 net earnings per share view to $4.15-$4.20 from $4.20-$4.30, trailing analysts' consensus estimates of $4.32. Tiffany President and Chief Executive Officer Federic Cumenal said that the company is planning "cautiously" for the coming year. Cumenal noted that the company anticipates "significant headwinds from the stronger U.S. dollar against all of our key currencies that, as we experienced in the holiday period, negatively affects both the translation of results and sales to tourists in the U.S." Cumenal said that these factors are expected to result in the company planning low-to-mid single-digit sales and earnings growth in 2015. Cumenal also commented that "Despite these and other global economic pressures that we anticipate in the short-term, we believe that, when they abate, Tiffany will resume higher earnings growth rates based on stronger sales growth and increasing operating margins." ANALYST REACTION: This morning, research firm Sterne Agee lowered its price target for Tiffany to $110 from $121 citing the company's "disappointing" holiday comps and "soft" initial 2015 guidance. However, he firm kept a Buy rating on the name, and said it is encouraged by the company's relative strength in Asia-Pacific and Europe. PRICE ACTION: In late morning trading, Tiffany fell $12.15, or about 11.7%, to $91.30 on more than three times its average daily trading volume. Despite today's pull back, the shares have gained approximately 1% over the past 12 months. OTHERS TO WATCH: Tiffany & Co peers include Signet Jewelers (SIG), down 0.6%, and Blue Nile (NILE), down 2.2%.
10:15 EDTJCPOptions with decreasing implied volatility
Options with decreasing implied volatility: NBIX APOL NPSP BBBY INFY JCP MU TIF
09:04 EDTAMZNAmazon wins first Golden Globe for 'Transparent,' Business Insider reports
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07:52 EDTIBMIBM to undertake biggest re-organization in company history, Register says
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07:52 EDTIBMIBM price target lowered to $130 from $144 at Jefferies
Jefferies lowered its price target for IBM shares to $130 after cutting its estimates to reflect the strengthening of the dollar against almost every other major currency worldwide since the tech giant reported Q3 results. Jefferies believes consensus estimates for IBM need to come down as the company deals with enterprises increasingly allocating investments away from traditional Software and IT Outsourcing toward investments in Cloud, Mobile and and Social initiatives. The firm reiterates an Underperform rating on IBM.
07:35 EDTJCP, IBM, ADBE, WMTNational Retail Federation to hold a trade show
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06:35 EDTSHLD, JCPObama to press for law requiring disclosure of hacking, NY Times says
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January 11, 2015
17:12 EDTBBYBest Buy shares could rise over 20%, Barron's says
Best Buy shares could rise over 20%, to around $45, driven by 4K television sales, Barron's contends in a feature article. Caution should still be used ahead of earnings, the paper adds. Reference Link
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