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Stock Market & Financial Investment News

News Breaks
August 22, 2014
16:42 EDTGME, AEO, RAX, DLTR, LB, CRM, EBAY, FDO, HPQ, FL, HTZ, PETM, DG, IFNNY, ONNN, SMTC, FCS, IRF, ISILMarket finishes week higher on economic data, earnings
Stocks ended the week higher after several pieces of economic data beat expectations and investors cheered results from a number of companies, offsetting weak overseas economic data and somewhat hawkish statements from the Fed. MACRO NEWS: Weekly jobless claims, housing starts for July, a manufacturing index for July, existing home sales for July, and leading economic indicators for July all beat expectations... Overseas economic data was less upbeat, however, as purchasing managers' indexes for the euro zone and China came in below expectations... Minutes of the Fed's last meeting stated that some FOMC members believe that interest rates may have to be raised sooner than expected. Meanwhile, Fed Chairman Yellen reiterated in a speech today that the Fed's policy changes would be based on upcoming economic data. However, she did say that the FOMC s questioning the degree of slack in the economy. COMPANY NEWS: M&A news flow was strong against this week. German semiconductor company Infineon (IFNNY) agreed to buy its smaller peer, International Rectifier (IRF). Other names in the space, including Semtech (SMTC), Intersil (ISIL), Fairchild Semiconductor (FCS) and ON Semiconductor (ONNN), rose in sympathy... Dollar General (DG) made a $78.50 per share bid for Family Dollar (FDO), in an effort to trump a previous $74.50 per share bid for Family Dollar by Dollar Tree (DLTR). Family Dollar rejected Dollar General's offer based on antitrust concerns... PetSmart (PETM) announced that it would pursue strategic alternatives, including a potential sale of the company... The website The Information reported that eBay (EBAY) is considering spinning off its PayPal digital payments unit... Hedge fund Blue Harbour Group announced that it had obtained a 6.4% stake in cloud computing company Rackspace (RAX)... Carl Icahn disclosed an 8.5% stake in Hertz (HTZ), but the car rental company withdrew its fiscal 2014 guidance, saying that it expects its full-year results to be well below its previous guidance range... In earnings news, cloud computing company Salesforce.com (CRM), apparel retailers American Eage (AEO) Foot Locker (FL) and L Brands (LB), and video game retailer Gamestop (GME), were among the companies that rose after reporting their results. HP (HPQ) and PetSmart dropped slightly after reporting their results.
News For IFNNY;IRF;SMTC;ISIL;FCS;ONNN;DG;FDO;DLTR;PETM;EBAY;RAX;HTZ;CRM;AEO;FL;LB;GME;HPQ From The Last 14 Days
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July 23, 2015
07:58 EDTHPQBrean Capital maintains Buy on EMC due to activist, merger potential
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07:43 EDTAEOStephens to hold a tour
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06:42 EDTHTZHertz downgraded to Underweight from Equal Weight at Morgan Stanley
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July 22, 2015
13:51 EDTEBAYeBay initiated with a Sector Perform at FBN Securities
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10:01 EDTEBAYOn The Fly: Analyst Downgrade Summary
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09:04 EDTEBAYeBay downgraded to Market Perform following spin-out of PayPal at Raymond James
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07:12 EDTEBAYeBay downgraded to Market Perform from Outperform at Raymond James
07:04 EDTFLFoot Locker price target raised to $77 from $67 at UBS
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05:24 EDTCRMStocks with implied volatility movement; CHK CRM
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July 21, 2015
15:11 EDTCRMEarnings Watch: Microsoft up 5% since announcing Nokia writedown
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14:24 EDTHPQEarnings Watch: EMC reports amid M&A speculation in sector
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11:12 EDTEBAYeBay downgraded to Neutral from Buy at Tigress Financial
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11:02 EDTEBAYPayPal volatility at 37 following split from eBay
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10:01 EDTEBAYOn The Fly: Analyst Downgrade Summary
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09:56 EDTCRMSalesforce rallies amid renewed speculation of Microsoft deal
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09:55 EDTCRMSalesforce calls active
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07:52 EDTHPQHP announces renewable energy agreement with SunEdison
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07:45 EDTEBAYSell PayPal amid mounting payments competition, Piper says
Shares of PayPal (PYPL) advanced over 5% yesterday in the stock's first day of trading following a split from eBay (EBAY), with the majority of research firms issuing optimistic notes on its prospects. This morning, however, analyst Gene Munster of Piper Jaffray recommends selling the share as competition grows in the digital payments space. BEARS: Munster started shares of PayPal with an Underweight rating, the firm's equivalent of a "Sell," saying increased competition could pressure the stock's multiple over the next 6-24 months. Google's (GOOG) Android Pay and Apple's (AAPL) Apple Pay will give consumers a "real alternative to PayPal" for the first time, Munster tells investors in his research note. In addition, interest in payments from Amazon.com (AMZN) and Facebook (FB) bring potential for more digital wallet offerings, the analyst notes. Munster set a $30 price target for PayPal. Of note, Evercore ISI also started coverage of PayPal shares yesterday with a Sell rating. BULLS: Wells Fargo initiated coverage of PayPal yesterday with an Outperform rating, saying the company's unique assets will enable it to maintain its leadership role in digital payments and benefit from the growth of e-commerce. Also upbeat was Robert W. Baird analyst Colin Sebastian, who contends that PayPal has the top pure play online payment system and is continuing to grow its share of the Internet payment market. PayPal should be able to innovate more effectively after its spin-off, added the analyst, who set a $45 price target on the shares. PRICE ACTION: Shares of PayPal are pointing toward further gains in their second day of standalone trading, with the stock up about 2.7% to $41.55 in pre-market trading.
07:30 EDTEBAYeBay downgraded on valuation at Stifel
As noted earlier, Stifel downgraded eBay to Hold from Buy. The firm downgraded the stock on valuation.
06:19 EDTEBAY, HPQSilicon Valley giants side with Samsung in battle with Apple, InsideSources says
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