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Stock Market & Financial Investment News

News Breaks
July 28, 2014
06:17 EDTINTC, WMBStocks with implied volatility below IV index mean; INTC WMB
Stocks with implied volatility below IV index mean; Intel (INTC) 17, Williams (WMB) 22 according to iVolatility.
News For INTC;WMB From The Last 14 Days
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February 10, 2016
12:03 EDTWMBEnergy Transfer Equity still pursuing Williams bid, dealReporter says
09:38 EDTINTCActive equity options trading on open; FB NFLX INTC DIS AAPL BAC CSCO JNJ SCTY
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February 8, 2016
16:23 EDTWMBOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory thanks in part to lower oil prices, poor banking data out of China, and selling in Europe. The market saw little in the way of buying for most of the day, with all ten of the S&P sectors in negative territory. Oil prices struggled to stay above $30 per barrel, while "safe haven" gold moved above $1,200 an ounce, its highest price since June. Once oil settled, stocks saw a late rally and cut into their losses, but the averages still ended the day deep in the red even following the comeback. ECONOMIC EVENTS: In the U.S., the labor market conditions index came in at 0.4 for January, below expectations for a reading of 2.0. In Asia, markets in mainland China, Hong Kong, Taiwan and Korea were all closed for the New Year holiday. Data was still released in China that showed the country's foreign currency reserves fell to their lowest level since May 2012, dropping about $99B in January, though that was better than analyst forecasts and ahead of some recent whispers. COMPANY NEWS: Chesapeake Energy (CHK) tumbled 33.2% to $2.05 after media reports indicated that the natural gas producer has hired restructuring lawyers from Kirkland & Ellis. The company later remarked that the law firm has been retained as an adviser, though Chesapeake noted it has "no plans" to pursue bankruptcy, which helped the stock recover some of its early losses... Meanwhile, another player in the oil space with ties to Chesapeake, Energy Transfer Equity (ETE), declined 41.3% to $4.10 after the company disclosed it was making a change to the Chief Financial Officer of its general partner. Williams Company (WMB), which has agreed to merge with Energy Transfer, also slid nearly 35%... Yelp (YELP) ended Monday down 11% at $16.11 after the earlier than expected release of its quarterly earnings report, which the company blamed on the news distribution service that issued the press release before the results were due. Yelp's earnings and revenue came in above expectations, though the company also disclosed that its finance chief Rob Krolik would be stepping down. MAJOR MOVERS: Among the notable gainers was Apollo Education (APOL), which rallied 24% to $8.62 after agreeing to be acquired for $9.50 per share by a group of investors led by private equity firm Apollo Global (APO), with the news also sending its for-profit education competitor DeVry (DV) up 5.5%. Also higher was GoPro (GPRO), which gained 10.3% to $10.99 after Microsoft (MSFT) announced a new collaborative patent licensing agreement with the beaten down action camera maker. In addition, Outerwall (OUTR), owner of the Redbox and Coinstar kiosk brands, rose 11% to $30.01 after Bloomberg reported that at least three buyout firms have sought to take it private in the past two years, with activist investor Engaged Capital later in the day confirming a 14% stake in the company. Among the noteworthy losers was Sarepta (SRPT), which declined 12.1% to $10.74 after the FDA delayed a decision on the company's closely-watched Duchenne muscular dystrophy treatment eteplirsen. Also lower was BioCryst (BCRX), which plunged 71% to $1.77 after a clinical trial of its hereditary angioedema drug failed to meet its primary endpoint. Meanwhile, Twitter (TWTR) fell 5.3% to $14.89 following reports over the weekend that it is rethinking its news feed, potentially ordering posts based on popularity rather than chronological date. INDEXES: The Dow fell 177.92, or 1.1%, to 16,027.05, the Nasdaq lost 79.39, or 1.82%, to 4,283.75, and the S&P 500 declined 26.61, or 1.42%, to 1,853.44.
12:05 EDTWMBOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session deep in negative territory and proceeded to move lower throughout the session, amid a renewed selloff in oil prices and fears that bankruptcies related to the prolonged slump will begin to pick up pace. The move lower is not restricted to the energy sector and has been broad-based, as each of the major equity indexes was lower by about 2% or more. ECONOMIC EVENTS: In the U.S., the labor market conditions index came in at 0.4 for January, below expectations for a reading of 2.0. In Asia, markets in mainland China, Hong Kong, Taiwan and Korea were all closed for the New Year holiday. Data was still released in China that showed the country's foreign currency reserves fell to their lowest level since May 2012, dropping about $99B in January, though that was better than analysts forecast and ahead of some recent whispers. COMPANY NEWS: Chesapeake Energy (CHK) tumbled over 50%, dropping as low as $1.50 per share, after media reports indicated that the natural gas producer has hired restructuring lawyers from Kirkland & Ellis. Subsequently, the stock was halted pending news and the company confirmed that Kirkland & Ellis continues to advise the company as it seeks to further strengthen its balance sheet. However, Chesapeake noted that it currently has "no plans to pursue bankruptcy," and its shares recovered some of their earlier losses upon being reopened for trading. The stock was down a bit over 25% near noon... Meanwhile, another player in the oil space with ties to Chesapeake, Energy Transfer Equity (ETE), declined 30% after the company disclosed, via a regulatory filing after Friday's close, that it was making a change to the Chief Financial Officer of its general partner. According to the company, the departure of CFO Jamie Welch from the post was not caused by any disagreements between him and the MLP over accounting issues or financial matters. Williams Company (WMB), with has agreed to merge with Energy Transfer, also slid 25%. MAJOR MOVERS: Among the notable gainers was Apollo Education (APOL), which rallied 25% after it agreed to be acquired by a group led by private equity company Apollo Global (APO) for $9.50 per share. Also higher was GoPro (GPRO), which gained 9% after Microsoft (MSFT) announced a new collaborative patent licensing agreement with the beaten down action camera maker. Among the noteworthy losers was Sarepta (SRPT), which fell 12% after the FDA delayed a decision on the company's Duchenne muscular dystrophy treatment eteplirsen. Also lower was BioCryst (BCRX), which plunged 67% after a clinical trial of its hereditary angioedema drug failed to meet its primary endpoint. In addition, DexCom (DXCM) was 17% lower after it was downgraded to Neutral from Outperform at Baird. INDEXES: Near midday, the Dow was down 317.14, or 1.96%, to 15,887.83, the Nasdaq was down 101.02, or 2.32%, to 4,262.12, and the S&P 500 was down 36.43, or 1.94%, to 1,843.62.
10:37 EDTWMBEnergy Transfer leads MLP rout after CFO change
The shares of Energy Transfer Equity (ETE) are plunging after the company disclosed, via a regulatory filing after Friday's close, that it was making a change to the Chief Financial Officer of its general partner. Meanwhile, the shares of the Master Limited Partnership, or MLP, and a number of peers were downgraded by research firm Robert W. Baird. Master Limited Partnerships are publicly traded partnerships that receive tax benefits and often own oil assets. WHAT'S NEW: Energy Transfer Equity announced that its CFO, Jamie Welch, would step down from the post. According to the company, Welch's departure was not caused by any disagreements between him and the MLP over accounting issues or financial matters. Welch will be replaced by Thomas Long, who is currently CFO of Energy Transfer Partners, L.L.C., which owns the general partner of Energy Transfer Partners, L.P. (ETP), another MLP. STREET RESEARCH: This morning, Baird analyst Ethan Bellamy downgraded nine MLP stocks, including both Energy Transfer names. The analyst said he would remain bearish on the sector until oil prices and high yield bottom. Bellamy expects the sector to be pressured by a number of related factors, including the bankruptcy of exploration and production companies, fund outflows, and macro economic conditions. In addition to ETE and ETP, the analyst downgraded EnLink Midstream (ENLC), ONEOK Partners (OKS), Plains All American (PAA) and Plains GP Holdings (PAGP) to Underperform and cut Antero Midstream (AM), ONEOK (OKE) and Tallgrass Energy GP (TEGP) to Neutral. Addressing the departure of Energy Transfer Equity's CFO, Wells Fargo said it does not think that the CFO's departure indicates any change to the MLP's pending merger with The Williams Company (WMB). The firm added that it has no knowledge of any accounting issues that prompted the CFO to leave. It continues to believe that Energy Transfer Equity will rise over the longer term and it kept an Outperform rating on that stock. It maintained a Market Perform rating on Williams. PRICE ACTION: In early trading, Energy Transfer Equity sank 26% to $5.20, Williams tumbled 24% to $13.03, Oneok dropped 13.5% to $22.10, Plains All American retreated 9.8% to $18.46 and Tallgrass sank 20% to $11.59.
10:26 EDTWMBOptions with increasing implied volatility
Options with increasing implied volatility: WMB SPLK Z PANW CRM PAGP LGF SQQQ WDAY ETP
09:59 EDTWMBWilliams halted for circuit-breaker after falling 33.6% to $11.37
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07:19 EDTWMBEnergy Transfer, Williams likely to drop on CFO departure, says Wells Fargo
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February 4, 2016
11:33 EDTINTCSamsung postpones investment in Xi'an semi plant, BusinessKorea says
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10:25 EDTINTC$25B cloud boost seen coming for Amazon, Microsoft, Google
Amazon (AMZN), Microsoft (MSFT) and Alphabet (GOOGL, GOOG) are all poised to get huge boosts from their cloud businesses over the next three years, research firm Pacific Crest wrote in a note to investors today. The combined revenue from their cloud initiatives should surge $25B over the next three years as companies move more workloads to the cloud from legacy IT systems, the firm believes. NEXT MAJOR CLOUD CYCLE: The revenue of Amazon's cloud business, AWS, could triple to $25B by 2018, according to Pacific Crest analyst Evan Wilson. Moreover, by 2018, AWS could account for 14% of the company's revenue and over 50% of its profits, up from 7% and 41%, respectively, today, the analyst predicts. Meanwhile, within three years, Microsoft's revenue from its commercial cloud business could jump 50% to $25B, the analyst stated. By 2018, the business could account for almost 25% of the tech giant's revenue and 15% of its profits, up from 15% of its revenue and very little of its profit today, the analyst added. Google's revenue from infrastructure as a service, a form of cloud computing, can surge 500% over the next three years to about $4.5B, Wilson believes. Additionally, noting that AWS' incremental operating margin came in at 51.9% last quarter, Wilson believes that investors are underestimating the profitability of cloud businesses. The analyst maintained an $800 price target and Overweight rating on Amazon, a $65 price target and Overweight rating on Microsoft, and a $910 price target and Overweight rating on Alphabet. WHAT'S NOTABLE: Intel (INTC), along with hard disk drive maker Western Digital (WDC) and Arista Networks (ANET), which supplies cloud networking solutions, should all benefit from the tremendous growth in demand for cloud platforms, Wilson believes. He kept Overweight ratings on all three of the latter stocks. Conversely, Wilson identifies EMC (EMC), HP Enterprise (HPE) and NetApp (NTAP) as "cloud share donors" and keeps Sector Weight ratings on their shares. PRICE ACTION: In early trading, Amazon fell 1% to $525.80, Microsoft was flat near $52 per share and Alphabet Class A shares dropped 1.8% to $736.15.
10:10 EDTWMBOptions with decreasing implied volatility
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07:07 EDTINTCHMG Strategy is holding a summit
2016 Phoenix CIO Executive Leadership Summit is being held in Scottsdale, AZ on February 4.
February 3, 2016
10:54 EDTWMBOptions with decreasing implied volatility
Options with decreasing implied volatility: WMB INVN FTNT NOW SNDK HOG UA CTXS KORS AMZN
10:21 EDTINTCActive puts: IWM INTC WDR EEM SPY
Active puts: IWM 3/18/16 97, INTC 2/19/16 31, WDR 3/18/16 20, EEM 2/19/16 28, SPY 2/19/16 190
10:00 EDTINTCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Equal Weight from Underweight at Morgan Stanley... Badger Meter (BMI) upgraded to Outperform from Neutral at Baird... Boot Barn (BOOT) upgraded to Buy from Neutral at B. Riley... Chipotle (CMG) upgraded to Outperform from Market Perform at Wells Fargo... Dow Chemical (DOW) upgraded to Top Pick from Outperform at RBC Capital... Electro Scientific (ESIO) upgraded to Buy from Hold at Needham... Hyatt (H) upgraded to Outperform from Market Perform at Wells Fargo... Intel (INTC) upgraded to Neutral from Sell at Goldman... Mallinckrodt (MNK) upgraded to Buy from Neutral at Mizuho... Michael Kors (KORS) upgraded to Neutral from Sell at Citi... NeoPhotonics (NPTN) upgraded to Strong Buy from Outperform at Raymond James... PGT, Inc. (PGTI) upgraded to Buy from Hold at Craig-Hallum... Performance Sports Group (PSG) upgraded to Outperform from Neutral at Wedbush... Superior Drilling (SDPI) upgraded to Buy from Neutral at Roth Capital... Syntel (SYNT) upgraded to Buy from Hold at Maxim... Valley National (VLY) upgraded to Overweight from Neutral at Piper Jaffray... Willis Towers Watson (WLTW) upgraded to Buy from Neutral at SunTrust.
February 2, 2016
18:01 EDTINTCIntel upgraded to Neutral from Sell at Goldman
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07:29 EDTWMBHouse Energy & Commerce Committee to hold a hearing
The Energy & Power Subcommittee holds a hearing entitled, "A Legislative Hearing on Eight Energy Infrastructure Bills" with Director Miles of FERC and Timothy Powell of the Williams Company on February 2 at 10 am. Webcast Link
February 1, 2016
10:51 EDTINTCActive calls; INTC CVS TWTR APC BAC
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10:25 EDTWMBWilliaOptions with increasing implied volatility: WMB ENDP RAD
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09:36 EDTINTCActive equity options trading on open
Active equity options trading on open: BAC AAPL FB AMZN TWTR MGM MCD NFLX GILD INTC TSLA AA BABA C
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