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Stock Market & Financial Investment News

News For IT;MSFT;HPQ;DELL;LNVGY;IBM;AAPL From The Last 14 Days
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July 23, 2015
06:24 EDTAAPLApple cuts FY15 CapEx forecast by $1B to $12B
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06:21 EDTAAPLApple Mac shipments expected in 2H!5 to surpass 1H volume, DigiTimes reports
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July 22, 2015
16:27 EDTAAPL, MSFTOn The Fly: Top stock stories for Wednesday
Stocks began the session in negative territory and remained there throughout the day. Uninspiring earnings reports from Apple (AAPL) and Microsoft (MSFT) were enough to push the Nasdaq lower and the rest of the market followed. There was good news on the housing sector, with both existing home sales and a housing market index coming in with good data, but it was not enough to overcome the tech selloff. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: Shares of Apple dropped $5.79, or 4.43%, to $124.96 after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. A number of suppliers to Apple declined in tandem with the tech giant. Skyworks Solutions (SWKS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report... Microsoft declined $1.88, or 3.97%, to $45.40 after reporting its Q4 Devices and Consumer revenue declined 13% and its Windows OEM revenue decreased 22% as revenue was impacted by PC market declines following the XP end-of-support refresh cycle. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose $5.84, or 10.14% to $63.42 after St. Jude Medical (STJ) announced an agreement to acquire the company for $63.50 per share in a transaction valued at $3.4B. Shares of St. Jude, meanwhile, edged down by 4c to $76.67. Also higher following earnings reports were shares of Intuitive Surgical (ISRG) and Chipotle Mexican Grill (CMG), advancing about 8.5% and 7.8%, respectively. Among the noteworthy losers was Caesars Entertainment (CZR), which dropped $3.26, or 40.65%, to $4.76 following reports that a judge ruled the company must face certain creditor lawsuits that could force a bankruptcy. Caesars Acquisition (CACQ) also dipped after the news, falling $1.13, or 14.52%, to $6.65. Also lower was XOMA (XOMA), which plummeted $3.46, or 78.61%, to 94c and saw downgrades at numerous research firms after the company's Phase 3 gevokizumab study did not meet its primary endpoint. INDEXES: The Dow fell 65.60, or 0.37%, to 17,853.69, the Nasdaq lost 36.35, or 0.7%, to 5,171.77, and the S&P 500 declined 5.06, or 0.24%, to 2,114.15.
15:02 EDTAAPL, MSFTOptions Update; July 22, 2015
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13:06 EDTMSFTCompetitors ask EU to probe Google ad technology market practices, FT says
Several of Google's (GOOG) rivals, including OpenX and AppNexus, which is part owned by WPP (WPPGY) and Microsoft (MSFT), have suggested that the European Union investigate the internet giant, claiming it may be unlawfully stifling competition in the market for advertising technology, the Financial Times reports. The companies' grievances relate to the way in which Google bundles its advertising technology products through contracts that may discourage or even prevent customers from using competitors' services, the report says. The companies in question have submitted documents to the EU expressing concern over the issue but have not submitted an official complaint, the report adds. Reference Link
12:32 EDTAAPL, MSFTOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as slides in a number of big name tech stocks following their earnings reports dominated the news flow and largely dictated the market's direction. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: The tech sector has been weak, headlined of course by a 5% pullback in shares of Apple (AAPL) after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. Adding to the negative tone in tech stocks, and contributing further to the decline in the Nasdaq, was the 3% drop seen in Microsoft (MSFT) shares after its quarterly report as well as Yahoo's (YHOO) 1% decline after its revenue outlook missed the consensus forecast... Shares of Boeing (BA) and Coca-Cola (KO) fared better than Dow peer Apple after each reported better than expected sales and profits, though neither stock was moving far from where they closed yesterday's trading. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose 10% after the company agreed to be acquired by St. Jude Medical (STJ) for $3.4 billion in cash, or $63.50 per share. St. Jude shares advanced fractionally after the deal, which had been foreshadowed by media reports yesterday, was announced. Also higher following their earnings reports were Intuitive Surgical (ISRG), which gained 10%, Chipotle Mexican Grill (CMG), which advanced 8% and Whirlpool (WHR), which was up 6%. Among the noteworthy losers were a number of suppliers to Apple that declined in tandem with the tech giant after it reported a sequential drop in iPhone sales. Skyworks Solutions (SWKS), Cirrus Logic (CRUS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report. Also sharply lower was antibody-based therapeutics maker XOMA (XOMA), which plunged more than 73% and was downgraded to Neutral at Piper Jaffray after a Phase III trial of its gevokizumab drug in patients with Behcet's disease uveitis did not meet its primary endpoint. INDEXES: Near midday, the Dow was down 82.22, or 0.46%, to 17,837.07, the Nasdaq was down 42.68, or 0.82%, to 5,165.44, and the S&P 500 was down 6.93, or 0.33%, to 2,112.28.
10:01 EDTAAPLOn The Fly: Analyst Downgrade Summary
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09:38 EDTMSFT, AAPLActive equity options trading on open:
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09:32 EDTAAPLApple results disappointing, says Wells Fargo
Wells Fargo says that Apple's lower than expected Q3 iPhone sales suggest that it may be keeping inventories low because of low demand. The firm thinks the company faces a number of challenges in its September quarter, including product transitions, tough comps, China volatility and less differentiation in the 6S iPhone. Wells keeps a Market Perform rating.
09:19 EDTMSFTBofA/Merrill says Microsoft battling license declines with Cloud and Hardware
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09:07 EDTMSFT, AAPLOn The Fly: Pre-market Movers
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08:58 EDTAAPLApple shares should be bought on weakness, says JMP Securities
After Apple reported higher than expected Q3 EPS but in-line revenue and the stock fell, JMP Securities says that the stock declined due to worries that the company's momentum is diminishing ahead of tougher comps. However, the firm finds the stock's valuation attractive, given the fact that other tech bellwethers are missing expectations. The firm is upbeat on the company's performance in China and believes that iPhone penetration can increase significantly.
08:33 EDTAAPLApple iPhone miss de-risks 2H 2015, says Morgan Stanley
Morgan Stanley said the 2.5M iPhone unit miss is a function of management's conservative approach to channel inventory given currency volatility and related price actions. Firm said demand remains strong despite price increases and sees a decent set-up for 2H channel inventory build that can lead to unit growth year-over-year. Morgan Stanley believes shares are attractive following reset expectations and reiterates its Overweight rating and lowered its price target to $155 from $166 on share.
08:22 EDTAAPLApple weakness a buying opportunity, says Baird
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07:55 EDTMSFTMicrosoft shares should be bought on weakness, says RBC Capital
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07:45 EDTMSFTMicrosoft shares still have downside, says Citi
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07:44 EDTAAPLApple weakness creates buying opportunity, says RBC Capital
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07:27 EDTAAPLApple post-earnings selloff overdone, says JPMorgan
JPMorgan analyst Rod Hall views the post-earnings pullback in shares of Apple as overdone. The company made no mention of demand weakness while China results and commentary were positive, Hall tells investors in a research note. He recommends adding to positions on today's selloff and keeps an Overweight rating on Apple with a $145 price target.
07:20 EDTAAPLApple should be bought on weakness, says Stifel
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07:12 EDTMSFTMicrosoft hurdles remain but still an attractive story, says UBS
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