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December 19, 2012
19:24 EDTFOLD, SD, GOOG, MDRX, BBBY, ICE, ARRS, GSK, ACN, NYX, JBLOn The Fly: After Hours Movers
UP AFTER EARNINGS: Jabil Circuit (JBL), up 5.5%... ALSO HIGHER: Arris (ARRS), up 15% after acquiring Google's (GOOG) Motorola Home Business for $2.35B in cash and stock... NYSE Euronext (NYX), up 13% after a Wall Street Journal report said the company was in merger talks with IntercontinentalExchange (ICE). Shares of IntercontinentalExchange also advanced 2.8%... SandRidge Energy (SD), up 7.6% after agreeing to sell its Permian Basin assets for $2.6B in cash... DOWN AFTER EARNINGS: Accenture (ACN), down 4.7%... Bed Bath & Beyond (BBBY), down 3.5%... ALSO LOWER: Amicus Therapeutics (FOLD), down 50% after completed phase 3 study with GlaxoSmithKline (GSK) failed to show statistical significant against placebo... Allscripts (MDRX), down 18% after announcing completed review of strategic alternatives.
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September 24, 2015
11:21 EDTGOOGJury says Pendrell patents not infringed on by Samsung, Google products
Pendrell announced earlier, that on September 23, a jury in the United States District Court for the Eastern District of Texas found that certain claims of five digital rights management patents asserted by Pendrell (PCO) subsidiary, ContentGuard Holdings, against Samsung Electronics (SSNLF) and Google (GOOG) are valid, but that Samsung products and Google products accused in the lawsuit do not infringe the asserted patents. ContentGuard is assessing the jury's findings and evaluating its options to challenge the verdict. ContentGuard's claims against Samsung and Google are part of a larger lawsuit filed by ContentGuard against several companies that have not paid for a license to use ContentGuard's patented digital rights management solutions, including Apple (AAPL), DirecTV, HTC, Huawei and Motorola Mobility. The jury verdict does not impact ContentGuard's August 2015 settlement and license agreement with (AMZN); nor does ContentGuard believe the jury verdict will impact or delay ContentGuard's upcoming November trial against Apple. Shares of Pendrell are down 35.34% in morning trading.
11:15 EDTGOOGAnalyst sees $55,000 car from Apple as soon as 2019
Apple (AAPL) could introduce a car by as soon as 2019, but assuming an average selling price of $55,000 and 200,000 shipments, the contribution to the tech giant's earnings in that year is probably not enough to "excite" investors, said the research team at Jefferies this morning. However, a car would give the tech giant some "much needed" diversification away from the iPhone and would be positive for the broader tech space, the firm added. RIPE FOR DISRUPTION: Jefferies analysts Sundeep Bajikar, Mark Lipacis and their team say their analysis indicates the automobile industry is "ripe for disruption" and that Apple is well positioned to introduce a car, potentially as early as 2019. A car could add 32c to Apple's earnings per share in FY19 under a best-case scenario, Bajikar tells investors. He assumes a $55,000 average selling price for an Apple Car and an operating margin of 20%, over 1,000 basis points higher than the Street's 2019 margin estimate for electric carmaker Tesla (TSLA). Investors are likely to find the assumptions "highly aggressive," the analyst cautions. Meanwhile, the potential earnings impact is probably not big enough for Apple investors to get excited and earnings contributions from a vehicle may not become meaningful before iPhone decelerates, the analysts argue. However, the firm said it could get more constructive on Apple shares if diversification in earnings were to drive less iPhone risk. Bajikar and Lipacis keep a Hold rating on the iPhone maker with a $126 price target. TOP CHIP PICKS: Efforts in the car market from tech heavyweights Apple and Google (GOOGL) will lead the industry to design and sell more intelligent vehicles, accelerating the growth of semiconductors for automobiles above current forecasts, contend Jefferies' analysts in a separate note to investors this morning. The analysts lay out their top picks among automotive semiconductor suppliers, saying the pending merger of NXP Semiconductors (NXPI) and Freescale (FSL) will create the world's biggest automotive semi company, adding that growth in microcontroller content and networking applications will benefit that combined giant. NVIDIA's (NVDA) automotive sales have grown the fastest since the end of the 2012 fiscal year among the companies the firm follows, while Maxim Integrated (MXIM) had the second fastest growth in that time frame, the analysts noted in naming those two as their other top picks in the space. Lipacis and Bajikar identified Analog Devices (ADI), Microchip (MCHP) and Linear Technology (LLTC) as other notable beneficiaries from the expected growth of semiconductor content in automobiles. PRICE ACTION: Amid broad weakness in the market, Apple shares are down 1.5% to $112.56. Meanwhile, the Philadelphia Stock Exchange Semiconductor Sector index (SOX) is down 2.4% this morning.
10:00 EDTACNAccenture increases dividend, approves $5B share repurchase authority
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09:05 EDTACNOn The Fly: Pre-market Movers
HIGHER: Arrowhead Research (ARWR), up 35% after disclosing top-line findings from the Heparc-2001 Phase 2a clinical study of ARC-520, its candidate for the treatment of chronic hepatitis B infection... Conatus Pharmaceuticals (CNAT), up 19% after the company's Phase 2 Portal Hypertension clinical trial of emricasan met its primary endpoints... Keryx Biopharmaceuticals (KERX), up 13% after announcing that the European Commission has approved Fexeric for the control of elevated serum phosphorus levels, or hyperphosphatemia, in adults with chronic kidney disease. LOWER: Caterpillar (CAT), down 5% after announcing restructuring plans, lowering revenue guidance, and having stock initiated with a Sell rating and a $28 price target at Axiom... Twitter (TWTR), down 1.5% after Citi cut estimates below consensus and lowered its price target to $30. DOWN AFTER EARNINGS: Worthington (WOR), down 12.5%... Accenture (ACN), down 3%.
08:57 EDTGOOGGoogle price target raised to $781 from $730 at Citi
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07:24 EDTGOOGWPP CEO: Google needs to weed out 'fake' online ad views, FT reports
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07:04 EDTACNAccenture sees FY16 EPS $5.09-$5.24, consensus $5.22
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07:02 EDTACNAccenture reports Q4 EPS $1.15, consensus $1.12
Reports Q4 revenue $8.36B, consensus $7.68B. Revenues before reimbursements for the fourth quarter of fiscal 2015 were $7.89B.
07:02 EDTACNAccenture sees Q1 net revenue $7.7B-$7.95B, consensus $8.11B
This range assumes a foreign-exchange impact of negative 8.5 percent compared with the first quarter of fiscal 2015.
06:59 EDTGOOGFacebook and Google more 'Yelp-like' than ever, says Northland
Northland analyst Darren Aftahi says Facebook (FB), Google (GOOG, GOOGL) and (AMZN) have recently added new features that focus on improved local search as well as tools enabling easier business-consumer communication. Facebook and Google are now more "Yelp-like" than ever, Aftahi tells investors in a research note. And while Apple's (AAPL) new "swipe right" feature could drive a near-term surge in Yelp (YELP) app downloads, it may translate into lower engagement on the Yelp app over longer term, the analyst argues. He remains cautious on Yelp's growth prospects and cut his price target for the stock to $17.75 from $21.50. Shares of the local business review site closed yesterday down 25c to $23.10. Aftahi has an Underperform rating on the stock, his firm's equivalent of a sell.
06:08 EDTGOOGSamsung Pay has over $30M in accumulated transaction volume in first month
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05:24 EDTGSKGlaxoSmithKline and Theravance intend to file Relvar Ellipta for COPD in Japan
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05:19 EDTACNAccenture chosen by Alba Leasing to support digital transformation program
Alba Leasing has chosen Accenture to support its digital transformation program under a new agreement the companies have signed. The agreement expands the scope of services Accenture has been providing under a contract the two companies signed in 2011 and extends it for four-and-a-half more years, through the end of 2019. Accenture will provide technology consulting services in addition to its current provision of application management and infrastructure services. The new contract supports Alba Leasing's digital transformation program, which the company has launched to respond to market changes and develop new and enhanced offerings and customer services.
September 23, 2015
15:05 EDTBBBYBed Bath & Beyond volatility elevated into Q2 and outlook
Bed Bath & Beyond September weekly call option implied volatility is at 92, October is at 37, November is at 30; compared to its 52-week range of 15 to 40, suggesting large near term price movement into the expected release of Q2 results on September 24.
15:02 EDTACNNotable companies reporting before tomorrow's open
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14:45 EDTACNAccenture September weekly 98 straddle priced for 3.9% movement into Q4
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13:09 EDTGSKEU could green light GlaxoSmithKline's new asthma drug this week, Reuters says
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08:54 EDTARRSARRIS shares attractive at current levels, says RBC Capital
RBC Capital says that the set-top business will not disappear, as cord cutting is increasing slowly, while ARRIS is looking to diversify its business. The firm expects the company's Pace deal to be significantly accretive. It keeps a $36 price target and Outperform rating on the shares.
07:18 EDTMDRXAllscripts management to meet with Deutsche Bank
Meeting to be held in San Francisco on September 23 hosted by Deutsche Bank.
05:32 EDTGSKViiV Healthcare announces Triumeq Phase IIIb study met primary endpoint
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