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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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January 26, 2015
18:30 EDTAAPLApple closing in on Samsung in smartphone sales, WSJ reports
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18:28 EDTMSFTOn The Fly: After Hours Movers
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18:14 EDTMSFTMicrosoft sees Q3 Devices & Consumers, Other revenue approximately $2B
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18:04 EDTMSFTMicrosoft sees Q3 phone hardware revenue $1,4B-$1.5B
18:03 EDTMSFTMicrosoft sees Q3 computing and gaming revenue $1.5B-$1.7B
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18:02 EDTMSFTMicrosoft sees Q3 consumer licensing revenue $3.4B-$3.6B
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18:01 EDTIBMIBM to lay off 12,000 employees, TechCrunch reports
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18:00 EDTMSFTMicrosoft anticipates lower gross margins over next few quarters
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17:57 EDTMSFTMicrosoft sees four point revenue impact from FX in Q3
17:46 EDTMSFTMicrosoft says results in China, Japan fell short of expectations in Q2
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17:36 EDTMSFTMicrosoft says Commercial Cloud run-rate $5.5B
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16:17 EDTMSFTMicrosoft shares drop 2% to $45.99 following Q2 results
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16:16 EDTMSFTMicrosoft reports Q2 Commercial revenue up 5% to $13.3B
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16:15 EDTMSFTMicrosoft reports Q2 Devices and Consumer revenue up 8% to $12.9B
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16:13 EDTMSFTMicrosoft expects to complete $40B share repurchase by end of 2016
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16:12 EDTMSFTMicrosoft says results include 6c of restructuring, IRS expenses
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16:11 EDTMSFTMicrosoft reports Q2 EPS 71c, consensus 71c
Reports Q2 revenue $26.5B, consensus $26.33B.
16:01 EDTMSFT, AAPLOptions Update; January 26, 2015
iPath S&P 500 VIX Short-Term Futures down 1.47 to 30.63. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX X MSFT BP GILD according to Track Data.
15:32 EDTMSFTMicrosoft January weekly 47 straddle priced for 3.7% movement into Q2
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15:30 EDTMSFTNotable companies reporting after market close
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15:03 EDTHPQHP announces management teams for both companies
HP said it has been "working diligently to ensure that both HP Inc. and Hewlett-Packard Enterprise are set up for success." It added, "We are excited about the progress we’ve made and today we’re happy to share the first level of leadership for both companies. As we continue through this transition year, we will operate as HP and are focused on minimizing disruption to customers, partners and employees." Hewlett-Packard Enterprise will be lead by Meg Whitman as President and CEO, Cathie Lesjak as Chief Financial Officer, Henry Gomez as Chief Marketing and Communications Officer, John Hinshaw as Chief Customer Officer and lead Technology & Operations and Martin Fink as Chief Technology Officer. HP Inc. will be led by Dion Weisler as President and CEO, Jon Flaxman as Chief Operating Officer and Shane Wall as Chief Technology Officer.
14:10 EDTAAPL, MSFTEarnings Preview: Analysts' opinions on Microsoft divided
Microsoft (MSFT) is scheduled to report results of its second quarter of fiscal year 2015 after the market close on Monday, January 26, with a conference call scheduled for 5:30 pm ET. Microsoft, a member of the Dow Jones Industrial Average, sells and licenses software to consumers and businesses, offers cloud computing and other business services, and markets hardware including the Xbox entertainment system, the Surface tablet and Windows smartphones. EXPECTATIONS: Analysts are looking for earnings per share of 71c on revenue of $26.33B, according to First Call. The consensus range for EPS is 65c-81c on revenue of $25.87B-$27.52B. On its last earnings call, Microsoft said it sees Q2 licensing revenue of $4B-$4.2B, computers and gaming revenue of $3.5B-$3.8B, phone hardware revenue of $2B-$2.2B, device and consumer other revenue of $2.3B-$2.4B, commercial licensing revenue of $10.8-$11B and commercial other revenue of $2.5B-$2.6B. Microsoft noted that it expects a quarter-over-quarter decline in its non-commercial segment in Q2. LAST QUARTER: On October 23, Microsoft reported first quarter EPS of 54c, beating the consensus analyst forecast of 49c. It's revenue came in at $23.2B, topping the consensus estimate of $22.02B. Microsoft said its Q1 financial results include $1.14B of integration and restructuring expenses, or an 11c per share negative impact, related to both Microsoft’s restructuring plan announced in July and the ongoing integration of the Nokia Devices and Services business. Microsoft reported that its Q1 Devices and Consumer revenue grew 47% to $10.96B and that its Commercial revenue grew 10% to $12.28B. NEWS: On November 4, Dropbox and Microsoft announced a partnership, with the two companies teaming up to integrate their services for collaboration across Dropbox and Microsoft Office on phones, tablets and the web. On December 4, Barnes & Noble (BKS) announced that it would buy Microsoft's entire stake in the book retailer's NOOK Media subsidiary for about $62.5M in cash and 2.74M Barnes & Noble shares. Barnes & Noble said it was buying back the stake to facilitate the spin off of the NOOK business. On January 21, Microsoft announced at its Windows 10 event that Windows 8 and Windows 7 customers will get free upgrades to Windows 10. The company also said that Cortana, its rival to Apple's (AAPL) Siri personal assistant, will be available for the desktop in Windows 10, making the virtual assistant available across smartphones, PCs and tablets. STREET RESEARCH: On the day after the company's last quarterly report, Credit Suisse said Microsoft reported strong hardware revenue outperformance combined with cost controls and cloud businesses momentum. The firm raised its price target on the stock to $55 from $50 and said it believed the company can return to double-digit EPS growth. On November 20, Jefferies initiated shares of Microsoft with an Underperform rating, saying the "new" Microsoft will look very much like the "old" Microsoft for some time. The firm attributed a rally in shares over the past year to optimism around new management, but it thinks the tech giant's fundamentals remain challenged despite its focus on cloud and mobile given its dependency on the PC market. Jefferies put a $40 price target on the stock at that time. In early December, JPMorgan started shares of Microsoft with an Overweight rating, saying the company has the strongest cloud platform among enterprise IT mega vendors. The firm set a $53 price target for the stock. Less than two weeks later, Piper Jaffray also began coverage on shares of Microsoft with an Overweight rating, saying the tech giant should benefit from stabilization in the PC market and "healthy" enterprise spending. The firm set a $54 price target for shares. However, on December 16, BofA Merrill Lynch downgraded Microsoft to Underperform from Neutral. The firm downgraded shares based on elevated valuation and reduced visibility. BofA/Merrill has concerns of a slowing Win Pro cycle, the Consumer 365 transition, and challenging gross margins. BofA had a price target of $47 on Microsoft. PRICE ACTION: Over the last three months, Microsoft shares are up about 1%. In afternoon trading ahead of tonight's report, Microsoft is down almost 1% to trade near $46.74 per share.
13:36 EDTMSFTMicrosoft technical notes before earnings
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10:15 EDTIBMIBM not commenting on 'ridiculous,' 'baseless' rumors
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09:49 EDTAAPLActive equity options trading
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09:46 EDTIBMIBM not laying off 100K people, CNBC's Job Fortt reports
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09:44 EDTIBMIBM to cut 26% of worldwide staff, Forbes reports
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09:44 EDTMSFTInterDigital announces commencement of ITC evidentiary hearing in Microsoft case
InterDigital (IDCC) announced the commencement of the evidentiary hearing in the remand of U.S. International Trade Commission "613 Investigation" of the company's complaint against respondents Nokia Corporation, Nokia Inc. and Microsoft (MSFT). In the 613 Investigation, InterDigital seeks an exclusion order prohibiting the importation into the U.S. of Nokia and Microsoft Mobile devices with 3G WCDMA capabilities that infringe two InterDigital patents. The 613 Investigation was remanded to the ITC from the U.S. Court of Appeals for the Federal Circuit, which held that the Commission had erred in interpreting certain claim terms in InterDigital's patents.
08:45 EDTAAPLApple iPhone shipments forecast at 73M for Q4, 61.7M for Q1, Apple Insider says
Apple iPhone 6 shipments have been forecast at 73M units for 4Q14 and 61.7M for 1Q15, reports Apple Insider, citing a research note by KGI analyst Ming-Chi Kuo. Kuo expects a Q1 launch for the latest MacBook Air and a March launch for the Apple Watch, with 4M-5M shipments and 2.8M sales of the smartwatch expected for the quarter. The analyst note also revises down iPad forecasts to 21.4M for 4Q14 and 10.1M for 1Q15, a 17.8% and 38% respective drop from last year. Reference Link
08:27 EDTAAPLApple volatility elevated into Q1 and outlook
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07:24 EDTAAPLApple has multiple catalysts, says RBC Capital
RBC Capital predicts that Apple's December quarter revenue and iPhone sales will beat expectations, but warns that foreign exchange could hurt the company's margin growth. However, the firm expects the stock to perform well following the results and thinks the company has multiple positive catalysts. It recommends that investors own the stock through 1H15.
07:23 EDTMSFTMicrosoft volatility elevated into Q2 and outlook
Microsoft January weekly call option implied volatility is at 34, February is at 23, March is at 20; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q2 results today after the market close.
06:46 EDTAAPLSamsung to supply processors for next iPhone, Reuters says
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06:37 EDTAAPLApple to report China iPhone sales topped US iPhone sales, Financial Times says
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06:27 EDTHPQHP CEO names Henry Xiang-Ying Cao as CEO of H3C, WSJ reports
Meg Whitman, the CEO of Hewlett-Packard, has named former H3C Technologies COO Henry Xiang-Ying Cao as CEO of HP's China-based subsidiary, replacing Jessie Jing-Chuan Wu, who will become vice chairman, The Wall Street Journal reports, citing an internal email. Workers at the unit recently petitioned against HP's new China chairman, Mao Yu'nan, and also pushed for financial incentives, which Whitman has reportedly recently offered. Reference Link
05:52 EDTAAPLApple guidance could imply 5% upside to consensus, says Piper Jaffray
Piper Jaffray believes investors are expecting Apple to report 65M-69M iPhone sales for the December quarter and it raised its iPhone unit expectation to 65M from 61M. Piper thinks the iPhone 6 sales cycle is off to a better than expected start and will be more sustainable than in past cycles. The firm believes Apple's March quarter revenue guidance could imply about 5% upside to Street estimates, which it feels should be enough for the stock to react positively post earnings. Piper reiterates an Overweight rating on Apple with a $135 price target ahead of tomorrow's earnings report.
January 23, 2015
16:01 EDTAAPLOptions 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.
15:27 EDTMSFTMicrosoft volatility elevated into Q2 and outlook
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15:17 EDTAAPLApple volatility at upper end of five-year range into Q1
Apple January weekly call option implied volatility is at 51, February is at 33, March is at 32; compared to its 26-week average of 26 according to Track Data, suggesting larger price movement into the expected release of Q1 results on January 27.
11:58 EDTMSFTMicrosoft to acquire Revolution Analytics to aid customers with data analysis
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10:44 EDTAAPLPandora rallies after analyst releases upbeat survey results
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09:36 EDTAAPLActive equity options trading
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08:11 EDTMSFTMicrosoft reveals smartphone-controlled "smart scarf," Business Insider says
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08:07 EDTMSFTU.S. tech giants nervous about backlash in Europe, WSJ says
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07:28 EDTAAPLDeutsche sees limited near-term catalysts for Apple shares
Deutsche Bank raised its Q1 estimates for Apple to reflect strong iPhones sales and now believes 67M phones shipped in the quarter. It notes that expectations are likely closer to 70M. Deutsche sees limited near-term catalysts for the stock, however, with iPhone sales peaking in Q1 and Apple Watch not expected to ship until the end of Q2. It keeps a Hold rating on Apple shares with a $102 price target.
06:22 EDTAAPL, LNVGYApple sees strong growth in Asian smartphone sales, CNBC says
Apple (AAPL) captured 33% of South Korea's smartphone market share in November, reports CNBC, citing Counterpoint Research. South Korean Samsung's (SSNLF) market share fell from 60% six months earlier to 46%. Apple also captured over 50% market share in Japan and saw a rise to 12% in China behind Lenovo (LNVGY) and Xiaomi. Reference Link
06:12 EDTAAPLFord announces opening of Palo Alto engineering center
Ford (F) yesterday opened the Research and Innovation Center Palo Alto, growing its global research team and accelerating the company’s innovation in connectivity, mobility, autonomous vehicles, customer experience and big data. The all-new Research and Innovation Center Palo Alto joins Ford’s global network of research and innovation centers, including its location in Dearborn, Michigan, which focuses on advanced electronics, human-machine interface, materials science, big data and analytics; and Aachen, Germany, which focuses on next-generation powertrain research, driver-assist technologies and active safety systems. With the new facility, Ford expects to have one of the largest automotive manufacturer research centers in Silicon Valley by the end of the year, with 125 researchers, engineers and scientists. Located in Stanford Research Park, the facility also expands Ford’s physical footprint – with further expansion planned in the near future. Ford opened its first Silicon Valley office in 2012. Leading the new research center is Dragos Maciuca, an engineer who joins Ford from Apple (AAPL) with a background in consumer electronics, semiconductor manufacturing, aerospace and automotive. While Ford’s research and development in autonomous vehicles is a global effort, including ongoing work with University of Michigan and Massachusetts Institute of Technology, the Palo Alto team will expand collaboration with Stanford University that kicked off in 2013. For this next phase of research, Ford is contributing a Fusion Autonomous Research Vehicle to the Stanford engineering program to begin testing the path planning-and-prediction algorithms researchers have developed over the past year. Ford is integrating with the Nest application programming interface, targeting home energy and emergency system management while on the road through a series of research experiments.
06:00 EDTMSFTWindows 10 unlikely to bring dramatic changes to mobile market, DigiTimes says
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05:55 EDTAAPLApple ranks top smartphone vendor in Taiwan for December, DigiTimes reports
Apple has ranked as the top smartphone vendor in the Taiwan market in December in both sales and volume, reports DigiTimes. According to data compiled by local retail channels, Apple took a 25.9% share in sales volume and 53.2% in sales value due to its success in iPhone 6 sales. Reference Link
05:52 EDTAAPLGartner: Samsung, Apple remain top semiconductor buyers in 2014, Digitimes says
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January 22, 2015
17:18 EDTAAPLJ. Crew CEO Mickey Drexler to retire from Apple board
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16:00 EDTAAPLOptions 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.
14:26 EDTMSFTTwitter introduces Tweet translation with Bing Translator
Twitter (TWTR) announced that the company has partnered with Bing Translator (MSFT) to provide machine translations of Tweets between more than 40 language pairs. Tweet translation is available on twitter.com, Twitter for iOS, Twitter for Android, and TweetDeck, according to the company's support page about the new feature. Reference Link
14:12 EDTAAPLXoom will incorporate Apple’s Touch ID technology in app
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13:03 EDTAAPLAnalysts differ on SanDisk after Apple loss clips outlook
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12:37 EDTMSFTMicrosoft volatility into Q2 and outlook
Microsoft January weekly call option implied volatility is at 30, February is at 23, March is at 20; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on January 26.
09:43 EDTAAPLActive equity options trading
Active equity options trading according to Track Data: AAPL DG ABX AMZN FXCM LVS FFIV INFI SD
08:36 EDTAAPLApple volatility at upper end of five-year range into Q1
Apple January weekly call option implied volatility is at 48, February is at 35, March is at 32; compared to its 26-week average of 26 according to Track Data, suggesting larger price movement into the expected release of Q1 results on January 27.
08:28 EDTLNVGYBank document shows Samsung still pursuing BlackBerry, Financial Post says
Samsung (SSNLF) continues to pursue acquisition of BlackBerry (BBRY), reports the Financial Post, citing an investment bank document and a source with knowledge of the plan. Prepared by Evercore Partners in 4Q14, the document hints at only a partial takeover, notes that Lenovo (LNVGY) may compete with Samsung for the company, cites BlackBerry's operating system and Messenger as potential divestitures, adds that Samsung could offset $50M in taxable income, and suggests Samsung start by approaching Fairfax Financial about acquiring a minority stake. Reference Link
08:01 EDTMSFTSeagate expands collaboration with Super Micro Computer
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07:59 EDTAAPLSanDisk growth story remains intact, says Citigroup
Citigroup attributes the 7% post-earnings drop in shares of SanDisk (SNDK) to the company unexpectedly announcing that Apple (AAPL) was dropping SanDisk as a supplier of client SSDs. The firm estimates that the Apple SSD business is roughly 8%-10% of SanDisk's revenue. Citi says it was relieved, however, when management attributed the Q4 miss to product shortage, implying NAND industry excess inventory is not an issue. It believes the company's secular growth story remains intact, and keeps a Buy rating on the name despite lowering its price target to $97 from $110.
07:55 EDTAAPLApple survey could mean earnings upside, says UBS
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06:29 EDTAAPLApple's iPhone 6 Plus surging in China, Business Insider reports
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06:11 EDTAAPLWhatsApp now available in web browsers
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06:03 EDTMSFTMicrosoft Windows 10 not a 'material' catalyst, says Jefferies
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January 21, 2015
16:35 EDTIBMOn The Fly: Closing Wrap
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16:00 EDTAAPLOptions 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.
15:18 EDTMSFTMicrosoft unveils holographic goggle prototype, Wired reports
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12:31 EDTAAPL, MSFTMicrosoft Cortana to be available on Windows 10 computers, Business Insider says
Microsoft (MSFT) announced at its Windows 10 event that Cortana, its rival to Apple's (AAPL) Siri personal assistant, will be available for the desktop in Windows 10, Business Insider reports, adding that Cortana will be available across smartphones, PCs and tablets. Reference Link
12:24 EDTAAPL, IBMOn 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.
12:22 EDTMSFTMicrosoft says Windows 8, Windows 7 customers to get free upgrade to Windows 10
This comment was made at the Microsoft Windows 10 Briefing. Reference Link
11:34 EDTAAPLAmazon pulling plug on Amazon Wallet app beta, CNet reports
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10:29 EDTAAPLAcacia Research down almost 13% after patent ruling
Earlier today, Acacia Research (ACTG) announced its CEO and President Matt Vella will discuss the January 20th, 2015 ruling received by Adaptix, , a subsidiary of Acacia Research, relating to patent cases pending in the District Court for the Northern District of California. The Court’s ruling granted a motion finding no infringement of certain method claims asserted by Adaptix against Apple(AAPL), Verizon (VZ), AT&T (T), and HTC. Shares of Acacia Research are lower by almost 13% to $13.90 in morning trading.
10:06 EDTMSFTMicrosoft set to test key support, levels to watch
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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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08:37 EDTAAPLSkyworks shares should be bought ahead of results, says Pacific Crest
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08:11 EDTAAPLApple acquires music analytics company Semetric, Guardian says
Apple (AAPL) acquired British startup Semetric as it prepares to relaunch its Beats Music streaming service, reports The Guardian. Semetric owns the Musicmetric analytics tool, giving music industry clients the ability to track legitimate sales and streaming downloads, illegal pirate downloads, and social media activity. The Guardian notes that Apple may be looking to undercut Spotify's subscription rates and rebrand Beats Music under its iTunes label. Reference Link
08:09 EDTMSFTDTS to enhance Starz audio technology on Microsoft's Xbox One
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08:03 EDTHPQHP PC market share, sales seem to have risen, says Argus
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07:53 EDTIBMIBM cash flow guidance 'very weak,' says Jefferies
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07:41 EDTAAPLApple volatility at upper end of five-year range into Q1
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07:26 EDTAAPLApple Q4, Q1 results likely to beat expectations, says Oppenheimer
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06:18 EDTIBMIBM price target lowered to $170 from $180 at Citigroup
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06:13 EDTAAPLApple's rumored iPhone 6S could feature 'radical' changes, Forbes reports
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05:53 EDTIBMStocks with implied volatility movement; IBM QCOM
Stocks with implied volatility movement; IBM (IBM) 27, Qualcomm (QCOM) 33 according to iVolatility.
05:53 EDTLNVGY, AAPLTrendForce: Global smartphone shipments grew 26% in 2014, DigiTimes reports
Global smartphone shipments grew about 25.9% to 1.17B units, reports DigiTimes, according to TrendForce. Samsuing amanged to retain to the number one position, although its global market share dropped to 28% from 32.5% while Apple shipments grew to 24.5% market share compared to 16.6% last year. Reference Link
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.
16:00 EDTAAPLOptions Update; January 20, 2015
iPath S&P 500 VIX Short-Term Futures down 36c to 35.12 Option volume leaders: AAPL TSLA TWTR GILD NFLX MGM ABX AMAT JNJ C according to Track Data.
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.
12:55 EDTHPQThousands of HP employees protest new China head, China Daily says
About 2,500 employees of HP's (HPQ) China based subsidiary, H3C Technologies, have signed a petition against HP's new China chairman, Mao Yu'nan, according to China Daily. The employees fear that Mao will endanger H#C's autonomy and torpedo an employee stock option plan that has been in the works for some time, the newspaper stated. Reference Link
11:13 EDTHPQHP looks to boost sales with specific tablets for professionals, Bloomberg says
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11:08 EDTMSFTMicrosoft acquires Equivio, terms not disclosed
Rajesh Jha, Microsoft's Corporate VP, Outlook and Office 365, announced on the company's blog that Microsoft has acquired Equivio, a provider of machine learning technologies for eDiscovery and information governance. Jha explains, "We are making this acquisition to help our customers tackle the legal and compliance challenges inherent in managing large quantities of email and documents." Reference Link
09:39 EDTMSFTMicrosoft Outlook in China hacked by government censorship department, CNBC says
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09:38 EDTAAPLActive equity options trading
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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.
06:38 EDTAAPLApple stops developers in Crimea from creating App Store apps, TechCrunch says
Apple has sent out emails to app developers in Crimea telling them that they can no longer develop iPhone apps, TechCrunch reports. The move is based on new U.S. sanctions against Crimea, the Russian-annexed area of Ukraine. Reference Link
January 19, 2015
12:56 EDTHPQHP-Autonomy investigation closed by U.K.'s Serious Fraud Office
The Director of the Serious Fraud Office has closed the SFO's investigation into the sale of Autonomy to the Hewlett-Packard company in 2011. This investigation was commenced in early 2013, following a referral from HP.In respect of some aspects of the allegations, the SFO has concluded that, on the information available to it, there is insufficient evidence for a realistic prospect of conviction.In respect of other aspects and on the application of well-established principles, jurisdiction over the investigation has been ceded to the US authorities whose investigation is ongoing. Reference Link
January 18, 2015
13:45 EDTAAPLGoogle in talks to acquire mobile-pay platform Softcard, WSJ says
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January 16, 2015
16:00 EDTAAPLOptions Update; January 16, 2015
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15:10 EDTAAPLApple volatility at upper end of five-year range
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09:47 EDTMSFTPolice arrest U.K. man in connection with Sony, Microsoft hack, Bloomberg says
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08:47 EDTAAPLIntel CEO says relationship with Apple 'strong'
Krzanich says he's heard the "rumors" of Apple (AAPL) looking at other types of chips for some of its products. Apple will always choose innovation and Intel's (INTC) job is to offer them the most competitive products, Krzanich said. Intel's CEO says many customers want to have a single supply source, which is a reason Intel needs to be in a broad array of businesses including mobile, PCs and servers. Krzanich says "very comfortable" with inventory levels and that Q4 played out the way the company expected. Intel CEO Brian Krzanich is speaking on CNBC.
08:09 EDTAAPLApple price target raised to $123 from $120 at RBC Capital
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06:27 EDTAAPLSamsung names Lee Don-tae as global design team leader, Korea Joongang says
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06:25 EDTAAPLApple to open five new stores in China in next five weeks, Xinhua News reports
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06:11 EDTAAPLEU says Amazon's tax deal with Luxembourg may violate laws, WSJ reports
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06:11 EDTAAPLApple implied volatility of 41 at upper end of index mean range
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06:10 EDTHPQ, LNVGY, AAPLGlobal notebook shipments to reach 46M units in Q4, DigiTimes Research says
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05:59 EDTAAPLIntel aims to ship 44M tablet APs in 2015, DigiTimes reports
Intel (INTC) targets shipping 44M tablet APs in 2015 to acount for one third of the non-Apple (AAPL) tablet shipments in 2015, reports DigiTimes. According to sources from tablet players, Intel expects losses from its tablet segment to narrow significant in 2016 as it acquires a leading position in the non-Apple tablet sector. Reference Link
January 15, 2015
19:46 EDTMSFTMicrosoft's Xbox wins holiday retail fight against PS4, Re/code reports
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16:01 EDTAAPLOptions 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.
15:13 EDTMSFTQihoo 360, Microsoft announce advertising alliance in China, TechWeb says
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15:02 EDTAAPLEarnings Preview: Jefferies refutes bear case on Intel
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14:07 EDTAAPLBank of America says 800,000 customers enrolled in Apple Pay
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13:06 EDTAAPLGoogle to stop selling Glass to individuals on January 19, WSJ reports
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11:36 EDTAAPLChina's Xiaomi targets iPhone users with new handset model, AP says
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11:08 EDTAAPLReport: Apple may include 2GB of faster RAM in iPhone 6s, MacRumors says
Apple may boost its internal RAM to 2GB and use "force touch" technology for its iPhone 6s, reports MacRumors. Citing a report from TechNews Taiwan, the RAM modules offer low power consumption and a significant performance increase from the 1GB used in the current iPhone 6 and iPhone 6 Plus. Reference Link
10:06 EDTAAPLApple falls, levels to watch
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10:00 EDTLNVGYLenovo announces a strategic alliance with Zenoss
Lenovo announced a strategic alliance with Zenoss to help enterprises and service providers improve IT service reliability, responsiveness and operational efficiency. With this agreement, Lenovo and Zenoss will extend the Zenoss Resource platform by adding the ZenPack plug-in to Lenovo’s lineup of x86 servers.
10:00 EDTAAPLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Campus (ACC) downgraded to Sell from Neutral at Goldman... Apple (AAPL) downgraded to Neutral from Buy at Mizuho... Archer Daniels (ADM) downgraded to Neutral from Buy at Goldman... Barrick Gold (ABX) downgraded to Underweight from Equal Weight at Barclays... CNOOC (CEO) downgraded to Underperform from Hold at Jefferies... CSC (CSC) downgraded to Underweight from Neutral at JPMorgan... Computer Programs (CPSI) downgraded to Market Perform from Outperform at William Blair... D.R. Horton (DHI) downgraded to Neutral from Buy at UBS... DDR Corp. (DDR) downgraded to Neutral from Overweight at JPMorgan... Dominion Diamond (DDC) downgraded to Equal Weight from Overweight at Barclays... EVERTEC (EVTC) downgraded to Neutral from Overweight at JPMorgan... Education Realty (EDR) downgraded to Sell from Neutral at Goldman... Franco-Nevada (FNV) downgraded to Underweight from Equal Weight at Barclays... General Cable (BGC) downgraded to Neutral from Buy at Longbow... Green Dot (GDOT) downgraded to Neutral from Overweight at JPMorgan... Greif (GEF) downgraded to Neutral from Buy at BofA/Merrill... Grupo Simec (SIM) downgraded to Neutral from Buy at Goldman... Hecla Mining (HL) downgraded to Hold from Buy at BB&T... Host Hotels (HST) downgraded to Hold from Buy at MLV & Co.... Ingredion (INGR) downgraded to Sell from Neutral at Goldman... Insulet (PODD) downgraded to Market Perform from Outperform at Raymond James... Johnson & Johnson (JNJ) downgraded to Sell from Neutral at Goldman... Magna (MGA) downgraded to Hold from Buy at TD Securities... Molson Coors (TAP) downgraded to Neutral from Buy at Goldman... Nuverra Environmental (NES) downgraded at Roth Capital... Omnicom (OMC) downgraded to Hold from Buy at Evercore ISI... PetroChina (PTR) downgraded to Underperform from Hold at Jefferies... Philip Morris (PM) downgraded to Sell from Neutral at Goldman... Precision Castparts (PCP) downgraded to Hold from Buy at KeyBanc... Rio Tinto (RIO) downgraded to Neutral from Outperform at Macquarie... STAG Industrial (STAG) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Equal Weight from Overweight at Barclays... Sinopec (SNP) downgraded to Underperform from Hold at Jefferies... Sky (SKYAY) downgraded to Neutral from Outperform at Exane BNP Paribas... Teledyne (TDY) downgraded to Underweight from Hold at KeyBanc... Woodward (WWD) downgraded to Underweight from Hold at KeyBanc... Xilinx (XLNX) downgraded to Equal Weight from Overweight at Barclays.
09:36 EDTAAPLActive equity options trading
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08:58 EDTIBMIBM January weekly volatility elevated at 39 into Q4 and outlook
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08:30 EDTAAPLEU to publish details of Amazon's tax deal with Luxembourg, Reuters reports
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07:08 EDTMSFTMicrosoft Windows shipments still growing, says Bernstein
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06:55 EDTHPQHP removed from short-term buy list at Deutsche Bank
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06:27 EDTMSFTIntel to partner with more IT players for Internet of Things, DigiTimes reports
Intel (INTC) is preparing to team up with more IT firms such as AT&T (T), Verizon (VZ), Cisco (CSCO), SAP (SAP), and Microsoft (MSFT) in order to expand the Internet of Things industry in 2015, reports DigiTimes. According to sources from the upstream supply chain, Intel has been playing an active role in helping Taiwan build its smart city infrastructure and has also cooperated with Chunghwa Telecom to develop the IoT and cloud computing applications. Reference Link
06:12 EDTAAPLTSMC sales likely to disappoint in Q2, DigiTimes reports
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06:06 EDTAAPLApple downgraded to Neutral from Buy at Mizuho
Mizuho downgraded Apple to Neutral and maintained its $115 price target based on balanced risk/reward. The firm expects solid Q1 results on January 27 and for March outlook to be inline with consensus but expects iPhone sales to decelerate later in the year and for iWatch sales to potentially disappoint.
06:05 EDTAAPLApple implied volatility of 39 at upper end of index mean range
January 14, 2015
16:00 EDTAAPLOptions Update; January 14, 2015
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11:23 EDTAAPLIntel lower after report says Apple may displace chips in Macs
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11:14 EDTAAPLGoPro rebounds after analysts downplay Apple patent worries
Shares of action camera maker GoPro (GPRO) are recovering some of the ground they lost yesterday, after two research firms wrote that the stock's decline yesterday on worries about an Apple (AAPL) patent were overdone. WHAT'S NEW: Noting that a report circulated yesterday that Apple received a patent for a wearable camera, Barclays wrote that the 11% decline in GoPro's stock yesterday was an overreaction. Although Apple's patent envisions a product similar to GoPro's camera, and Apple's entrance into the market would be "a headline grabber," there's a big difference between being awarded a patent and entering a market, the firm believes. Apple is often awarded patents for products that it never launches, Barclays explained. Moreover, GoPro has a number of attributes that could enable it to maintain its leadership in the market despite new competitors, Barclays believes. Among these attributes are the company's user base, software functionality, and ability to keep a technological edge, Barclays stated. The firm kept a $60 price target and Neutral rating on the shares. Even more upbeat was JMP Securities analyst Alex Gauna. After reviewing Apple's patent, the analyst thinks the document "hints" that the camera is primarily meant to be installed on smart watches and smartphones. Apple is unlikely to enter the action camera market, the analyst believes. Moreover, many companies are trying to imitate GoPro's cameras, but none have been able to match GoPro's quality in brand energy, performance, range of uses, and/or software and social networking value, Gauna stated. He recommended that investors buy GoPro on weakness and reiterated a $105 price target and Outperform rating on the shares. PRICE ACTION: In late morning trading, GoPro rose $2.72, or 5.5%, to $52.59. GoPro shares had declined a bit over 12% yesterday after the Patently Apple blog reported on the Apple's patent.
11:01 EDTAAPLAnalyst says Apple may replace Intel chips in Macs, AppleInsider reports
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09:36 EDTAAPLActive equity options trading
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09:16 EDTAAPLOn The Fly: Pre-market Movers
HIGHER: ZIOPHARM (ZIOP), up 53% after the company and Intrexon (XON) announced a licensing agreement with University of Texas. Intrexon shares are also up 12%... GameStop (GME), up 10.6% after reporting holiday SSS, providing guidance for the fourth quarter and fiscal 2014, and being upgraded at Pacific Crest... Smith Micro (SMSI), up 12.7% after reporting preliminary fourth quarter revenue and providing revenue guidance for the first quarter and fiscal 2015... BioCryst (BCRX), up 3.2% after receiving a positive opinion on EMA orphan drug designation for BCX4161... GoPro (GPRO), up 1% following analyst remarks that sell-off after yesterday's report on Apple (AAPL) patent was "overdone." DOWN AFTER EARNINGS: JPMorgan (JPM), down 2.7%... Wells Fargo (WFC), down 2.2%... Banking peers down as well, with Bank of America (BAC) down 2.8% and Citi (C) down 2%. ALSO LOWER: Tesla (TSLA), down 9% following comments made by CEO Elon Musk at an automotive conference in Detroit regarding a slowdown in China... New Media (NEWM), down 4.8% after 7M share spot secondary priced at $21.70... General Motors (GM), down 3% after giving 2015 guidance, saying it is on track to meet previously announced 2016 financial targets... Apple (AAPL), down 1% following lawsuit against Ericsson (ERIC) and countersuit filing.
08:34 EDTIBMIBM estimates lowered at BofA/Merrill
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08:27 EDTAAPLGoPro sell-off overdone, says JMP Securities
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06:43 EDTAAPLCirrus Logic upgraded to Sector Perform from Underperform at Pacific Crest
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06:29 EDTAAPLCompanies reach new deal on worker hiring issue, Reuters says
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06:14 EDTMSFT, LNVGY, HPQ, AAPLMediaTek: Worldwide tablet shipments rise at slower pace, DigiTimes says
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05:49 EDTAAPLApple sues Ericsson over patent royalty rates, Bloomberg says
Apple (AAPL) filed a lawsuit against Ericsson (ERIC) in the U.S. District Court for the Northern District of California, stating that Ericsson's royalty rates are excessive and its patents are not essential to LTE standards, reports Bloomberg. Reference Link
05:28 EDTAAPLEricsson files complaint against Apple in U.S. District Court
Following Apple's (AAPL) action, Ericsson (ERIC) has filed a complaint in the U.S. District Court for the Eastern District of Texas requesting a ruling on Ericsson's proposed global licensing fees with Apple. During the past two years of negotiations, the companies have not been able to reach an agreement on licensing of Ericsson's patents that enable Apple's mobile devices to connect with the world and power many of their applications. Ericsson filed the suit in order to receive an independent assessment on whether Ericsson's global licensing offer complies with Ericsson's fair, reasonable, and non-discriminatory, or FRAND, commitment. The global license agreement between Ericsson and Apple for mobile technology has expired and Apple has declined to take a new license on offered FRAND terms. Ericsson's Q4 IPR revenue will include payment from Apple under previous agreement. Every Apple smartphone and tablet with cellular capability uses technology from Ericsson. On January 12, Apple filed a lawsuit asking the U.S. District Court for the Northern District of California to find that it does not infringe a small subset of Ericsson's patents.
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.
16:24 EDTAAPLOn The Fly: Closing Wrap
The Wall Street averages spent time in both positive and negative territory during the session, before closing a bit below where they'd started the day. The market opened sharply higher after Alcoa’s (AA) better than expected report gave some optimism about the upcoming earnings season. The early move higher came despite oil continuing its slide. The major averages saw their highs shortly after the open and then began to drift slowly lower. By mid-afternoon the market was in the red, though the equity averages eventually made it briefly back into positive ground, but failed to hold those narrow gains into the close. ECONOMIC EVENTS: In the U.S., the NFIB small business optimism index for December came in at 100.4, which was stronger than the expected 98.5 reading. The JOLTS report showed job openings increased 142K to 4.972M in November, beating the 4.85M consensus forecast. Treasury posted a $1.9B surplus in December, which was a bit below the expected surplus of $3B. Also of note is the fact that the U.S. and European benchmarks of WTI and Brent crude were at parity for the first time since 2013 during the session, with both trading near $46 per barrel for a time. COMPANY NEWS: KB Home (KBH) reported better than expected revenue and higher orders in its fourth quarter, but the stock declined $2.70, or 16.29%, to $13.87 after CEO Jeffrey Mezger warned on the associated earnings call that margins could drop "significantly" in its current quarter from the levels seen last year. KB's margin outlook, which it blamed on rising costs, heavier use of incentives and a sequential decline in average selling prices, dragged down peers in the housing space as well. D.R. Horton (DHI), the biggest homebuilder by market cap, finished the day down $1.26, or 4.83%, to $24.82, while PulteGroup (PHM) also slid $56c, or 2.47%, to $22.13... MetLife (MET) said it will sue to oppose the U.S. Financial Stability Oversight Council’s designation of the insurer as a SIFI, or "systemically important financial institution." The life insurer called the label premature and said it has offered “substantial and compelling evidence” that it isn’t a SIFI. Wells Fargo said it thinks it is appropriate for MetLife to challenge the ruling, though the firm does not presently see a Dodd-Frank provision that enables an entity to shed its designation. Wells added that a MetLife victory would have no impact on either AIG (AIG) or Prudential (PRU), which did not challenge their SIFI designations before their windows closed. MAJOR MOVERS: Among the notable gainers was Emulex (ELX), which rose $1.21, or 20.86%, to $7.01 after the company issued better than expected guidance on its second quarter results. Also higher was McGraw Hill Financial (MHFI), which jumped $5.13, or 5.98%, to $90.89 after reports said the company's Standard & Poor’s rating unit was in talks about a potential $1B settlement to its fight with the Justice Department and state attorneys general over allegations of inflating credit ratings on mortgage investments preceding the financial crisis. Among the noteworthy losers was ChannelAdvisor (ECOM), which plunged $11.32, or 53.52%, to $9.83 after its fourth quarter revenue warning prompted no less than eight downgrades of the stock by Street analysts. Also lower were shares of Ocwen Financial (OCN), which dropped $4.41, or 36.18%, to $7.78 after the Los Angeles Times reported that California is seeking to suspend the company's mortgage license in the state. Altisource Portfolio Solutions (ASPS), which is a related company to Ocwen, also declined $10.45, or 38.79%, to $16.49. Shares of GoPro (GPRO) fell $6.91, or 12.17%, to $49.87 after the Patently Apple blog reported that Apple (AAPL) was granted a patent for a camera system that specifically mentions the weaknesses of GoPro devices. INDEXES: The Dow fell 27.16, or 0.15%, to 17,613.68, the Nasdaq lost 3.21, or 0.07%, to 4,661.50, and the S&P 500 dropped 5.23, or 0.26%, to 2,023.03.
16:00 EDTAAPLOptions 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.
15:55 EDTAAPLGoPro weakness due to Apple camera patent news is overdone, says Barclays
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12:48 EDTHPQOn The Fly: Midday Wrap
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12:33 EDTAAPLApple granted patent for remote-controlled camera system, Patently Apple says
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11:57 EDTHPQ, MSFTHP rises after PC report despite Pacific Crest downgrade
Shares of personal computer maker Hewlett-Packard (HPQ) are rising after research firm Gartner estimated that worldwide PC shipments had risen 1% last quarter. The advance comes despite research firm Pacific Crest having downgraded HP shares this morning. WHAT'S NEW: Worldwide shipments of PCs increased 1% last quarter, Gartner estimated. "These results indicate a slow, but consistent improvement following more than two years of decline," the firm wrote. The estimate suggests that PCs are not fading into oblivion, as some had predicted. Despite this news, research firm Pacific Crest downgraded HP to Sector Perform from Outperform in a note to investors today. HP is facing increased competition, as a number of companies are buying fewer individual servers and IT storage products, Pacific Crest analyst Brent Bracelin stated. Instead, they are buying integrated IT stacks. Ongoing technological trends could make this option more popular going forward, the analyst believes. Additionally, new data storage systems - including next wave systems with software-defined controls, cloud storage systems, and open sources systems - are growing rapidly and could increase the competitive pressure on HP, the analyst stated. Bracelin is less confident that HP's multiple can expand further going forward, he added. WHAT'S NOTABLE: Bracelin also downgraded NetApp (NTAP) to Sector Perform from Outperform for the same reasons that he cut his rating on HP. The analyst identified Tableau (DATA), F5 Networks (FFIV), Qlik Technologies (QLIK), and Nimble Storage (NMBL) as his favorite names in the IT infrastructure sector. F5 should benefit from earnings and multiple expansion as it carries out its security strategy, while Qlik is well-positioned to generate improved growth and margins, the analyst stated. Tableau and Nimble are poised to report better than expected results as their new products ramp up, Bracelin believes. OTHERS TO WATCH: Other companies that benefit from upbeat PC sales include Intel (INTC), Microsoft (MSFT), and hard disk drive makers Seagate (STX) and Western Digital (WDC). PRICE ACTION: In late morning trading, HP shares climbed 1.5% to $40.50.
11:42 EDTMSFTJustice Department partners with Facebook, Bing to expand reach of AMBER Alerts
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10:59 EDTAAPLApple rises after Credit Suisse, Canaccord hike iPhone estimates
Shares of Apple (AAPL) are climbing after two research firms issued upbeat notes on the company in notes to investors today. WHAT'S NEW: Credit Suisse analyst Kulbinder Garcha upgraded Apple to Outperform from Market Perform. The company should sell 215M iPhones in both fiscal 2015 and fiscal 2016, Garcha estimated. Meanwhile, Apple's gross margins are being boosted by the increased popularity of both its 64 GB memory phones and of the IPhone 6 Plus, the analyst stated. Garcha increased his earnings per share estimate for the iPhone maker by 18% in fiscal 2015 and 20% in fiscal 2016. Additionally, the firm believes excessive net cash levels indicate a new $200B return program should occur. The analyst thinks the shares can reach $130 at least. After analyzing surveys in the U.S. that took place in December and into January, Canaccord analyst T. Michael Walkley said the surveys showed strong demand and market share gains for the new iPhones. The analyst increased his iPhone estimates for Apple's December quarter, as well as his estimates for the company's overall December quarter results. The increases were based on the positive demand trends, particularly for models with higher memory levels and prices, Walkley stated. He expects these positive trends to continue and reiterated a $135 price target and Buy rating on the shares. PRICE ACTION: In mid-morning trading, Apple climbed $3.39, or 3.1%, to $112.64.
10:00 EDTHPQOn The Fly: Analyst Downgrade Summary
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10:00 EDTAAPLOn The Fly: Analyst Upgrade Summary
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09:36 EDTAAPLActive equity options trading
Active equity options trading according to Track Data: AAPL AMD AA TWTR GILD C CELG TSLA GOOG
09:07 EDTAAPLOn 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.
07:49 EDTLNVGYLenovo weighs IPO for small device unit, Bloomberg reports
Lenovo, whose new small device unit to be called Shenqi could be worth “a couple of billion dollars” when it begins selling smartphones and smart-home devices under its own brand, is considering taking the new unit public, reported Bloomberg, citing an interview with Lenovo CEO Yang Yuanqing in Beijing. Reference Link
07:36 EDTAAPLApple survey suggests demand remains strong, says Canaccord
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07:18 EDTAAPLQuanta ramps up production of 12-inch MacBook Air, DigiTimes reports
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07:04 EDTIBMFederal court confirms halt to sales of chips used by SanDisk, IBM, others
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06:44 EDTHPQHP downgraded to Sector Perform from Outperform at Pacific Crest
Pacific Crest downgraded HP (HPQ) to Sector Perform citing valuation and rising competitive risks from hyperconvergence and new datastores. The firm lists Tableau (DATA), F5 Networks (FFIV), lik Technologies (QLIK) and Nimble Storage (NMBL) as its top names to own in the Cloud, Analytics & Data Infrastructure space. Pacific Crest also downgraded also NetApp (NTAP) to Sector Perform citing the same rationale as HP.
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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06:21 EDTAAPLApple upgraded at Credit Suisse
As previously reported, Credit Suisse upgraded Apple to Outperform from Neutral. The firm raised iPhone volume estimates again to 215M units for both FY15/16 and sees $10 EPS power in CY16 based on a solid and sustainable iPhone trends combined with a muted response from Samsung. Additionally, the firm believes excessive net cash levels indicate a new $200B return program should occur. Price target raised to $130 from $110.
06:20 EDTAAPLApple supplier shows 'unbreakable' smartphone with sapphire display, WSJ says
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06:18 EDTAAPLSilicon Valley shuttle drivers looking to unionize, USA Today reports
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06:09 EDTAAPLApple implied volatility of 38 at upper end of index mean range
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06:06 EDTAAPLApple upgraded to Outperform from Neutral at Credit Suisse
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January 12, 2015
16:50 EDTLNVGY, HPQ, AAPLGartner says worldwide PC shipments in Q4 grew 1%
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16:00 EDTAAPLOptions 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.
12:53 EDTAAPLApple falls, levels to watch
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11:51 EDTIBMIBM results seen being hurt by continued dollar strength
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09:34 EDTAAPLActive equity options trading
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08:21 EDTAAPLApple poised to gain market share, says JMP Securities
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08:05 EDTMSFTGameStop to use Microsoft Azure to stream game content, promotional materials
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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 EDTIT, IBMNational Retail Federation to hold a trade show
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