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Stock Market & Financial Investment News

News Breaks
January 23, 2013
16:30 EDTFSLR, STRI, MCP, AGN, MAPP, COH, CREE, HLF, GOOG, IBM On The Fly: Closing Wrap
Stocks on Wall Street were higher following better than expected earnings from tech giants IBM (IBM) and Google (GOOG). Near midday, the House voted to extend the debt limit until May 19, as expected, and the markets did not react to the news. Eyes on the Street are focused on this evening's report from Nasdaq's largest component, Apple (AAPL)... ECONOMIC EVENTS: In the U.S., the light economic calendar included the Home Price Index, which showed prices rose 0.6% in November, versus expectations for an increase of 0.7%. Also of note, the International Monetary Fund lowered its outlook for 2013 global output growth to 3.5% from 3.6%... COMPANY NEWS: IBM shares gained $8.64, or 4.41%, to $204.72 after its earnings report and guidance exceeded expectations. Google similarly reported earnings that beat consensus. A number of firms increased their price targets on shares, including Jefferies taking their target up to $875. Google advanced $38.63, or 5.5%, to $741.50 following its earnings report... Herbalife (HLF) was again in the news as Greenlight Capital's quarterly letter to investors made the rounds this afternoon. There was some speculation that the letter contained a veiled reference to a short position in Herbalife, however, The Wall Street Journal reported that Greenlight's David Einhorn told investors he does not currently have any bet on the stock. However, Einhorn admitted to profiting from a short position in Herbalife held in 2012 that has since been closed. Shares of Herbalife were down $1.13, or 2.56%, to $43.01 on the day... Among notable companies moving after reporting earnings were Cree (CREE), up $7.38, or 22.05%, to $40.85 after beating expectations, and Coach (COH), down $9.93, or 16.36%, to $50.75 after its earnings fell short of expectations and its Q4 SSS fell 2%... MAJOR MOVERS: Among notable gainers was MAP Pharmaceuticals (MAPP), which rose $9.13, or 58.6%, to $24.71 after it was announced last night that the company had agreed to be acquired by Allergan (AGN) for $25 per share. Allergan shares fell $1.10, or 1.04%, to $104.65 following the announcement. Among notable losers was Molycorp (MCP), which fell 95c, or 10.76%, to $7.88 after disclosing that the company sees Q4 and 1H13 production below expectations and shares were downgraded at Dahlman Rose. Also lower were shares of STR Holdings (STRI), down 79c, or 25.48%, to $2.31 after announcing last night that it expects to lose First Solar (FSLR) as a customer and shares were downgraded to Hold at Craig-Hallum... INDICES: The Dow was up 66.96, or 0.49%, to 13,779.17; the Nasdaq was up 10.49, or 0.33%, to 3,153.67; and the S&P 500 was up 2.22, or 0.15%, to 1,494.78.
News For IBM;GOOG;HLF;CREE;COH;MAPP;AGN;MCP;STRI;FSLR From The Last 14 Days
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October 14, 2014
08:59 EDTGOOGGoogle October volatility elevated into Q3 and outlook
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07:31 EDTGOOGGoogle says YouTube Preferred ads essentially sold out, WSJ reports
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06:42 EDTFSLRPV modules with solar-grade wafers to account for 89% of capacity, DigiTimes says
Solarbuzz says solar photovoltaic modules using solar-grade wafers will account for 89% of solar capacity forecast to be installed in 2014, reports DigiTimes. Thin-filmed panel makers will supply nearly 8% of end-market demand in 2014, while premium cyrstalline silicon suppliers making up the remaining 3% share. Publicly traded companies in the space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL), Panasonic (PCRFY) and Yingli Green Energy (YGE). Reference Link
06:36 EDTGOOG'Double Irish' tax arrangement poised to halt, itnews says
Ireland is positioned to enact legal revisions soon that will slowly cease its "Double Irish" tax agreement, which has allowed companies like Google (GOOG) and Apple (AAPL) to not spend billions of dollars worth of taxes, according to itnews, citing, two sources familiar with the situation. Reference Link
06:25 EDTCREEReplacement of conventional lighting with LEDs picks up pace, DigiTimes says
The replacement of conventional lighting with LED has picked up pace in the United States and Europe as power utilities offer subsidies for LED lighting products and the EU lowers the RoHS Directive maximum mercury content, reports DigiTimes. According to industry sources in Taiwan, the average retail price for an Energy Star-certified LED light bulb in place of a 40W incandescent bulb in the US market is $3.99 and that for a 60W-equivalent LED light bulb stands at $5-$6. Reference Link
06:19 EDTGOOGGoogle expands Express delivery service, to charge membership fee
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06:03 EDTAGNMarket overreacted to new Irish tax rules, says BMO Capital
BMO Capital believes the market may have overreacted yesterday to the report that Ireland is eliminating the "Double Irish" tax loophole. The firm says Allergan (AGN) confirmed that it incorporated potential changes to Irish tax law in its recently raised earnings guidance while Mallinckrodt (MNK) said it does expect the new tax structure to have an immediate impact. BMO views yesterday's pullback in shares of Allergan, Mallinckrodt and Actavis (ACT) as an overreaction.
06:02 EDTGOOGGoogle may be leading $500M funding round for Magic Leap, Re/code reports
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October 13, 2014
15:06 EDTGOOGGoogle confirms limited test of online medical advice, Washington Post reports
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13:53 EDTGOOGYouTube to open New York video production studio
Google's YouTube announced that it would open a new video production studio in New York next month. YouTube already has video production facilities in London, Los Angeles and Tokyo.
13:10 EDTGOOGGoogle's Schmidt says Amazon is company's biggest search rival, FT reports
Eric Schmidt, the executive chairman of Google (GOOG), says Amazon (AMZN) is his company's biggest rival in search, not Bing (MSFT) or Yahoo (YHOO), the Financial Times reports. Schmidt also argued in Berlin that Google should not be regulated "as if it were the gatekeeper of the internet," given the influence of Amazon and Facebook (FB). Reference Link
11:20 EDTFSLRStocks with call strike movement; FSLR DAL
First Solar (FSLR) January 65 call option implied volatility increased 4% to 54, Delta Air Lines (DAL) January 36 call option implied volatility increased 8% to 47 according to IVolatility.
09:01 EDTHLFHerbalife moving distributor websites to central control, NY Post reports
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08:06 EDTGOOGQihoo 360 launches ad exchange platform, Marbridge Daily reports
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07:57 EDTGOOGGoogle price target lowered to $650 from $685 at Cowen
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07:53 EDTGOOGYouTube changes have diffused much of tension with copyright holders, FT says
YouTube, which implemented Content ID in 2007 to help producers manage their rights and generate revenues from copyright-infringing content, has hit $1B in payments to companies that participate in the program and Fred von Lohmann, legal director for copyright at Google, credits the program for diffusing much of the tension the site previously had with copyright holders, reported Financial Times. Via Content ID, copyright owners can “monetize” their content by allowing ads to be sold against it or have the video blocked and taken down and von Lohmann told Financial Times that the "vast majority" choose to monetize. Reference Link
07:22 EDTGOOGSony/ATV could ditch licensing firms due to streaming dollars, NY Post reports
Sony/ATV Music Publishing (SNE) is considering no longer dealing with performance rights groups BMI and ASCP, and instead negotiating directly with online music services like Pandora (P), YouTube (GOOG) and Spotify due to outdated rules and low royalties, the New York Post reports. Reference Link
06:44 EDTGOOGGoogle testing feature that allows video chats with doctors, Engadget reports
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06:44 EDTGOOGGoogle could announce new Nexus tablet on October 15, 9to5Google reports
Google's new Nexus tablet may be announced on Wednesday, October 15, 9to5Google reports, citing Bright Side of News. The HTC-made tablet is rumored to cost $400. Reference Link
06:39 EDTAGNAllergan takeout value at or above $210 per share, says Leerink
Leerink believes Allergan's takeover value is now at or above $210 per share given the company's recent execution. After speaking with management, the firm says Allergan's upside in Q3 was driving by fundamentals, not cost cuts. It continues to view the "most likely and straightforward outcome" for Allergan as being an outright sale of the company. Leerink raised its price target for shares to $215 from $184 and keeps an Outperform rating on Allergan.
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