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Stock Market & Financial Investment News

News For JBL;ARRS;GOOG;NYX;ICE;SD;ACN;BBBY;FOLD;GSK;MDRX From The Last 14 Days
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October 2, 2014
10:05 EDTICEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AK Steel (AKS) upgraded to Buy from Hold at Deutsche Bank... Autodesk (ADSK) upgraded to Neutral from Sell at Citigroup... Bank of America (BAC) upgraded to Buy from Neutral at UBS... Barrick Gold (ABX) upgraded to Hold from Sell at Canaccord... Bemis (BMS) upgraded to Neutral from Underperform at BofA/Merrill... EOG Resources (EOG) upgraded to Buy from Accumulate at KLR Group... Electronics for Imaging (EFII) upgraded to Buy from Neutral at Citigroup... Encana (ECA) upgraded to Buy from Hold at Deutsche Bank... Equity One (EQY) upgraded to Neutral from Sell at Citigroup... Fossil (FOSL) upgraded to Buy from Hold at ISI Group... Gentex (GNTX) upgraded to Outperform from Market Perform at Wells Fargo... Gentherm (THRM) upgraded to Outperform from Market Perform at Barrington... Hi-Crush Partners (HCLP) upgraded to Buy from Neutral at Ladenburg... Home Properties (HME) upgraded to Hold from Sell at Cantor... IntercontinentalExchange (ICE) upgraded to Buy from Hold at Deutsche Bank... JetBlue (JBLU) upgraded to Market Perform from Underperform at Raymond James... Kinder Morgan (KMI) upgraded to Outperform from Market Perform at Wells Fargo... Mattel (MAT) upgraded to Market Perform from Underperform at BMO Capital... NASDAQ (NDAQ) upgraded to Buy from Hold at Deutsche Bank... National Oilwell (NOV) upgraded to Strong Buy from Outperform at Raymond James... Pandora (P) upgraded to Buy from Hold at Topeka... Preferred Bank (PFBC) upgraded to Outperform from Market Perform at Raymond James... PulteGroup (PHM) upgraded to Neutral from Sell at Goldman... Time Warner (TWX) upgraded to Hold from Sell at Topeka... Twitter (TWTR) upgraded to Overweight from Neutral at JPMorgan... UDR, Inc. (UDR) upgraded to Buy from Hold at Cantor... ViewPoint Financial (VPFG) upgraded to Overweight from Equal Weight at Stephens.
09:09 EDTGOOGWaze announces government data exchange program, TheNextWeb reports
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07:42 EDTGOOGACCC approves Expedia-Wotif takeover deal
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06:45 EDTGOOGGoogle touts progress of Drive, Chromebook, 9to5Google says
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06:20 EDTGOOGHollywood lawyer treatens to sue Google over nude photo leak, Page Six says
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05:22 EDTICENASDAQ upgraded to Buy from Hold at Deutsche Bank
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05:21 EDTICEIntercontinentalExchange upgraded to Buy from Hold at Deutsche Bank
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October 1, 2014
13:03 EDTGOOGGoogle cuts Compute Engine prices 10%, TechCrunch reports
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10:27 EDTJBLOptions with decreasing implied volatility
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09:05 EDTGOOGMondelez signs agreement with Google focusing on online video
Mondelez International (MDLZ) announced has signed a global agreement with Google (GOOG), focusing on online video. This is part of the company's strategy to invest more of its media spending in digital and, in particular, online video. Globally, the company has committed to shifting 10% of its ad budgets to online video in 2014.
08:05 EDTMDRXAllscripts management to meet with Deutsche Bank
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07:05 EDTGSKIsis Pharmaceuticals earns $1.5M milestone payment from GSK
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06:55 EDTGOOGGerman regulator demands Google change user info handling, Bloomberg says
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06:21 EDTGOOGOtter Media names Virasb Vahidi as CEO
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06:03 EDTICEIntercontinentalExchange completes 1st phase of transition to ICE Futures Europe
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September 30, 2014
16:39 EDTGSKCMS discloses drug makers' payments to doctors, WSJ says
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13:18 EDTGOOGTwitter to launch new app development platform, The Information reports
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11:29 EDTGOOGGoogle could be interested in eBay after spinoff, says Pacific Crest
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11:27 EDTJBL, BBBYOptions with decreasing implied volatility
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10:02 EDTACNOn The Fly: Analyst Initiation Summary
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08:05 EDTGOOGeBay could be worth $62/share on sum-of-the-parts, says Piper Jaffray
Piper Jaffray says it still estimates the total valuation of eBay's two divisions at around $62 per share on a sum-of-the-parts basis. Piper believes Marketplace could be more attractive as an acquisition candidate post separation, which it notes investors have been thinking about since the Alibaba (BABA) IPO. The firm thinks competition from Apple Pay (AAPL) and Google Wallet (GOOG) will likely add some uncertainty to PayPal’s standalone valuation. Piper has a Neutral rating on eBay. The stock is up 9% to $57.25 after announcing it will spin off PayPal into a separate publicly traded company.
08:01 EDTGSKGE Healthcare to collaborate with GlaxoSmithKline in commercial oncology testing
GE Healthcare (GE) announced an agreement between its affiliate, Clarient Diagnostic Services, and GlaxoSmithKline (GSK). The collaboration aims to improve access to diagnostic testing for cancer patients by establishing a network of clinical laboratories to identify genetic mutations associated with different tumour types. The collaboration will enable GE to develop a broader laboratory and data analytics service that will enable better efficiency in the healthcare market related to oncology precision medicine. This will be made available as a subscription-based service and operated by GE Healthcare. Under terms of the agreement with GSK, GE Healthcare, through its Clarient affiliate, will initially use its clinical laboratory, pathology and genomics expertise, to certify laboratories and generate diagnostic data on metastatic melanoma patients. The first Clarient certified laboratories to initiate this work, are expected to be operational in several countries in early 2015. Laboratory testing will initially focus on more than 70 mutations relevant to melanoma, including BRAF V600E and V600K, with the opportunity to expand testing beyond melanoma into other tumor types, as the network of clinical laboratories develops.
07:45 EDTGOOGGoogle introducing new mobile ad types, Ad Age reports
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07:40 EDTACN, ACNAccenture initiated with an Outperform at CLSA
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07:30 EDTGSKSachs Associates to hold a conference
14th Annual Biotech in Europe Forum for Global Partnering and Investment to be held in Basel, Switzerland on September 30-October 1.
07:06 EDTACNAccenture selected by AIG for life and annuity software
Accenture (ACN) has been selected by American International Group (AIG) to transform its software platform. AIG will implement the Accenture Life Insurance Platform across its U.S. life insurance business to create and modify products faster in order to attract and retain customers. ALIP will also help AIG achieve operational efficiencies by simplifying and automating processes.
06:56 EDTGOOGGoogle, Netflix hindered from TV review by CRTC, Bloomberg says
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06:04 EDTGOOGGoogle rivals launch 'Focus on the User' site
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05:29 EDTACNAccenture, Alcatel-Lucent announce strategic alliance
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September 29, 2014
13:47 EDTGSKGlaxoSmithKline reports 45% survival rate of Tafinlar-treated melanoma patients
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13:30 EDTGOOGGoogle Capital invests in InnoLight Technology, WSJ reports
Google Capital has made an investment in InnoLight Technology, a Chinese manufacturer of high-speed optical transceivers that are used by computer servers, the Wall Street Journal reports. Google co-led a Series C round totaling $38M with Lightspeed China Partners, the publication says, marking Google Capital's first investment in China. Reference Link
13:15 EDTGOOGGoogle, Adobe announce Creative Cloud for Chromebooks
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11:15 EDTJBL, BBBYOptions with decreasing implied volatility
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09:38 EDTGOOGGoogle unveils new mobile-focused display ad formats
Google says on its blog that "We’re excited to announce that over the coming months we will launch several mobile display ad formats and tools across the Google Display Network, the AdMob Network and DoubleClick that will make it easier for advertisers to build successful ads that work across screens." Reference Link
09:08 EDTGOOGTremor Video partners with programmatic demand partners
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09:00 EDTGOOGGoogle price target raised to $730 from $650 at RBC Capital
RBC Capital increased its price target on Google, as the firm expects the company's core search growth to "remain highly consistent" in the near-term, and it thinks the company has developed three material medium-term growth drivers. It keeps an Outperform rating on the shares.
07:26 EDTGSKInforma Business Information to hold a conference
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07:15 EDTACNNational Association of Business Economics to hold annual meeting
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06:29 EDTGOOGYouTube's Tom Pickett to leave company, WSJ reports
Tom Pickett, Google’s VP for YouTube content, is set to leave the company, the Wall Street Journal reports. Pickett, who was responsible for policy and other initiatives including "YouTube Spaces," will reportedly become the CEO at another company. Reference Link
06:29 EDTGOOGFacebook to challenge Google with ad platform, NY Times says
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September 26, 2014
17:26 EDTMDRXHealthCor Management reports 4.0% stake in Allscripts
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16:55 EDTBBBYMarket ends week lower after inversion crackdown, mixed data
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13:06 EDTSDSandRidge Energy management to meet with MKM Partners
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11:19 EDTGOOGGoogle adds requirements for Android manufacturers, The Informatoin reports
Google (GOOG) may be adding requirements for dozens of manufacturers including Samsung (SSNLF), Huawei and HTC that want to build devices powered by Android, reports The Information. According to obtained confidential documents, the new requirements may include increasing the number of Google apps that must be pre-installed to as many as 20, placing more Google apps on the home screen and making Google Search more prominent. Reference Link
10:18 EDTJBL, BBBYOptions with decreasing implied volatility
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08:12 EDTJBLJabil Circuit looks to be turning the corner, says Argus
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06:47 EDTGOOGFAA drone decision could be milestone, NY Times says
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06:39 EDTGOOGMost connected devices have security flaw, NY Times says
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06:13 EDTGOOGGoogle checks show accelerating search spend, says Citigroup
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September 25, 2014
10:45 EDTJBLJabil Circuit falls amid market pullback despite Q4 earnings beat
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10:33 EDTBBBYOptions with decreasing implied volatility
Options with decreasing implied volatility: VHC RPRX SFLY VNET YHOO RHT KMX BBBY CCL ACN
10:13 EDTJBLHigh option volume stocks
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09:13 EDTJBLOn The Fly: Pre-market Movers
HIGHER: LipoScience (LPDX), up 63% after agreeing to be acquired by LabCorp (LH) for $5.25 per share in cash... Magnum Hunter (MHR), up 12.5% after announcing that throughput volumes on Eureka Hunter's gas gathering pipeline system have increased to about 316,500 MMBtu per day... Jabil Circuit (JBL), up 4.7% following its report of better than expected fourth EPS and revenue... JD.com (JD), up 0.7% after the stock was initiated with an Outperform rating at Macquarie. LOWER: Yahoo (YHOO), down 0.6% after RBC Capital downgraded its rating on the stock to Sector Perform from Outperform, saying the risk/reward is less attractive following Alibaba's (BABA) initial public offering... HB Fuller (FUL), down 15% after reporting quarterly results and guidance that missed analyst estimates... Omnova Solutions (OMN), down 10.8% after its Q3 adjusted EPS missed expectations... Pacira Pharmaceuticals (PCRX), down 9.2% after receiving an FDA warning letter over certain promotional materials on Exparel.
09:00 EDTGOOGGoogle responds to News Corp. criticism in blog post
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07:31 EDTGOOGBrookings Institution to hold a discussion
The Governance Studies at Brookings hosts an event on the challenges facing cross-border data flows in the digital economy. A panel of experts discuss the possible ramifications on communication, trade and commerce of a fractioned internet to be held in Washington, D.C. on September 25 at 10 am.
06:07 EDTGOOGGlobal tablet sales momentum to slow down in 2015, DigiTimes reports
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05:36 EDTGSKGlaxoSmithKline names Philip Hampton Non-Executive Director
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September 24, 2014
18:19 EDTJBLOn The Fly: After Hours Movers
UP AFTER EARNINGS: Jabil Circuit (JBL), up 3.8% after reporting fourth quarter results and fiscal 2015 guidance. ALSO HIGHER: Rexahn Pharmaceuticals (RNN), up 11.8% after announcing that the FDA has granted Orphan Drug Designation for its drug RX-3117 for the treatment of patients with pancreatic cancer... xG Technology (XGTI), up 7.8% after announcing stock purchase agreements for up to $16M... Marchex (MCHX), up 2.1% after receiving notice of termination from Allstate (ALL). DOWN AFTER EARNINGS: HB Fuller (FUL), down 11.3% after reporting second quarter results and guidance below analyst estimates.
17:35 EDTJBLJabil Circuit targets FY15 growth of 0%-5% for EMS segment, margins of 2%-4%
Targets FY15 growth of 8%-10% for diversified manufacturing services segment, margins of 5%-7%. Expects to make "substantial investments" in FY15. Says exploring new, "non-traditional markets." Sees strong operating cash flows going forward. Sees FY15 operating margins in mid 3% range. Sees FY15 CapEx $350M-$450M, weighted towards DMS segment. Comments from company's Q4 earnings conference call.
16:22 EDTBBBYOn The Fly: Closing Wrap
Stocks on Wall Street were higher after a report showed that sales of new homes rose to their highest level in over six years in August. The volume and news flow were relatively light, which may be the case again tomorrow as many market participants celebrate the Jewish holiday of Rosh Hashanah. ECONOMIC EVENTS: In the U.S., new home sales rose 18.0% in August to a 504K unit rate, which was much higher than the expected 4.4% increase. COMPANY NEWS: Bed Bath & Beyond (BBBY) advanced $4.64, or 7.4%, to $67.33 after the home goods retailer last night reported second quarter earnings and revenue that surpassed analysts' consensus estimates. The better than expected report and rise in the stock comes a day after William Blair downgraded the stock yesterday morning... Citizen Financial (CFG), the U.S. retail bank unit of Royal Bank of Scotland (RBS), became the year's second largest IPO behind Alibaba (BABA) after 140M shares began trading on the NYSE this morning. The stock ended it first day up $1.58, or 7.35%, at $23.08, which was far cry from the advance seen by another of the day's new stock debuts. CyberArk (CYBR) priced 5.36M shares at $16.00, opened for trade at $25.00 and ended the day at $29.94, making for a rise of over 87% from its IPO pricing. MAJOR MOVERS: Among the notable gainers was Acorda Therapeutics (ACOR), which advanced $8.27, or 28.18%, to $37.62 after the company agreed to acquire Civitas Therapeutics for $525M in cash. Civitas, which was private, had been scheduled to come public via an IPO that was expected to happen later this week prior to the deal announcement. Also higher was Hasbro (HAS), which rose $2.01, or 3.8%, to $54.95 after striking a deal that gives the company global rights, excluding Japan, to develop dolls based on Disney's (DIS) princess characters, as well as Frozen, beginning in 2016. Mattel (MAT), which currently holds those rights, slid 40c, or 1.25%, to $31.67 in the wake of the news. Also lower were shares of Skechers (SKX), which fell $5.69, or 9.8%, to $52.40 after research firm SportscanInfo reported that the footwear maker's sales had fallen 3% last week. However, Sterne Agee recommended buying the stock on the weakness. INDEXES: The Dow rose 154.19, or 0.9%, to 17,210.06, the Nasdaq gained 46.53, or 1.03%, to 4,555.22, and the S&P 500 added 15.53, or 0.78%, to 1,998.30.
16:15 EDTJBLJabil Circuit sees FY15 revenue $16.5B-$18.0B, consensus $16.35B
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16:07 EDTJBLJabil Circuit up over 6% following Q4 results, FY15 guidance
16:05 EDTJBLJabil Circuit sees Q1 Diversified Manufacturing Services revenue up 6%
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16:04 EDTJBLJabil Circuit sees Q1 core EPS 41c-53c, consensus 41c
Sees Q1 revenue $4.2B-$4.4B, consensus $4.11B.
16:03 EDTJBLJabil Circuit backs FY15 core EPS $1.65-$1.95, consensus $1.74
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16:02 EDTJBLJabil Circuit reports Q4 core EPS 5c, consensus 0c
Reports Q4 revenue $4.1B, consensus $3.83B.
15:43 EDTJBLJabil Circuits October 21 straddle priced for 8.2% move into Q4
15:34 EDTJBLJabil Circuit technical comments ahead of results
In the prior three months the shares have underperformed the averages, trading flat. The trading range has been between $20 at the low and $21.50 at the high. In the longer-term view, the shares have been in a bullish trend since hitting lows back in May. The stock does tend to advance and consolidate which is characteristic of the current price behavior. On a breakout above $21.50 on better than expected news, next resistance would be at $22.68. On progressively stronger news, the following resistance levels could become upside objectives: $23.90, and then the 52-week high at $24.13. If the news does not support additional upside, the following support levels could become downside objectives: $19.63, $18.37, $17.19, and $16.12. The short-base in the shares is moderate suggesting traders are not positioned for negative news. That could exacerbate the downside reactions on a negative surprise.
15:19 EDTJBLNotable companies reporting after market close
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14:10 EDTACNAccenture FY15 guidance below Street not surprising, says Wells Fargo
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12:29 EDTBBBYOn The Fly: Midday Wrap
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11:04 EDTBBBYOptions with decreasing implied volatility
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11:00 EDTBBBYBed Bath & Beyond climbs after Q2 earnings beat expectations
Shares of home decor retailer Bed Bath & Beyond (BBBY) are rising after the company's second quarter earnings per share and revenue surpassed analysts' consensus estimates. WHAT'S NEW: Bed Bath & Beyond's Q2 EPS was $1.17, which was 3c higher than analysts' consensus. The company's Q2 revenue of $2.95B topped analysts' consensus of $2.89B. Same-store-sales for the quarter were up approximately 3.4%. The retailer sees Q3 EPS in the range of $1.17-$1.21, compared with analysts' consensus view of $1.20. Bed Bath & Beyond expects fiscal year 2014 EPS to be between $5.00-$5.08, compared to analysts' view of $5.03. WHAT'S NOTABLE: During the company's conference call, Bed Bath & Beyond said that it was investing "significantly" in its business. It expects FY14 capital expenditures of approximately $350M. The retailer is opening a new distribution facility and is working on a new point of sale system. Bed Bath & Beyond said it is "cautiously optimistic" on its balance for the rest of the year. Next quarter, the company is expecting SSS growth of 2%-3%, and for Q4 it foresees 4%-5% of same-store growth. ANALYST REACTION: Yesterday morning, prior to the release of Bed Bath and Beyond's Q2 earnings report, William Blair analyst Daniel Hofkin downgraded the stock to Market Perform from Outperform. Hofkin cited his continued worries regarding the retailer's above-average exposure to e-commerce competitors. He feels that Bed Bath & Beyond waited too long before developing a strong multichannel platform and that competition from other e-commerce rivals will continue accumulating. He noted that while the company's price premium relative to Amazon (AMZN) has gotten smaller in the past few years, it still is material. Today, UBS analyst Michael Lasser raised his price target on the stock to $68 from $62 after Bed Bath & Beyond reported sales that surpassed expectations. Still, he felt that the good sales numbers occurred at the expense of its margin. He expects the retailer's operating margin decrease to impact the company's PE multiple. Lasser believes that the retailer's Q3 and Q4 comp outlook could be "aggressive," but he noted that he won't have much of an idea about those numbers until early January. He keeps a Neutral rating on the stock. OTHERS TO WATCH: Other companies in the home furnishings space include Williams Sonoma (WSM), Pier 1 Imports (PIR) and Restoration Hardware (RH). PRICE ACTION: During morning trading, Bed Bath & Beyond rose $3.99, or 6.4%, to $66.68.
10:18 EDTGSKGlaxoSmithKline set to name RBS' Philip Hampton as next chairman, Sky News says
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09:08 EDTICEIntercontinentalExchange Trade Vault approved by Ontario Securities Commission
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09:05 EDTACN, BBBYOn The Fly: Pre-market Movers
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08:55 EDTGOOGEndurance and Google partner for web presence solutions in Africa and Asia
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07:43 EDTARRSARRIS and Comcast trial ew RDK software in broadband modems
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07:37 EDTBBBYBed Bath & Beyond price target raised to $68 from $62 at UBS
UBS raised its price target on Bed Bath & Beyond to $68 from $62 after the company's Q2 sales beat expectations, but the firm noted that its better than expected sales came at the expense of its margin. UBS sees the company's operating margin decline affecting the stock's PE multiple and maintains its Neutral rating on the stock.
07:28 EDTGOOGAmazon expanding hardware unit, working on smart home devices, Reuters says
Amazon.com (AMZN) plans to boost its full-time payroll at Lab126, the hardware unit that developed the Kindle and other consumer electronics devices, by at least 27% over the next five years, reported Reuters, citing a government document and people familiar with the matter. The expansion comes as Amazon tests connected-home devices that could compete with those available from or being developed by Google (GOOG) and Apple (AAPL), two people familiar with the Lab's activities said, Reuters noted. Reference Link
07:18 EDTGOOGEU antitrust head says Google must improve search settlement terms, WSJ reports
Joaquín Almunia, the outgoing head of the EU competition department, told European Parliament lawmakers that Google must improve its proposal to settle concerns over its search practices or that it will face formal antitrust charges, even though the commissioner has already acknowledged that a final decision on the case will now fall to his successor, reported The Wall Street Journal. Reference Link
07:12 EDTACNAccenture sees FY15 new bookings $34B-$36B
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07:11 EDTACNAccenture increases dividend 10% to $1.02 per share
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07:11 EDTACNAccenture sees Q1 revenue $7.55B-$7.8B, consensus $7.8B
Accenture expects net revenues for Q1 of $7.55B-$7.8B, which assumes a foreign-exchange impact of negative 2% compared with the 1Q14.
07:10 EDTACNAccenture sees FY15 EPS $4.74-$4.88, consensus $4.91
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07:07 EDTACNAccenture reports Q4 EPS $1.08, consensus $1.10
Reports Q4 revenue $7.8B, consensus $7.62B. Reports Q4 free cash flow $1.5B. Reports Q4 bookings $8.3B.
September 23, 2014
18:24 EDTBBBYOn The Fly: After Hours Movers
UP AFTER EARNINGS: Bed Bath & Beyond (BBBY), up 7.4%. ALSO HIGHER: Lipocine (LPCN), up 15.9% after announcing webcast on Phase 3 study of LPCN 1021... ZS Pharma (ZSPH), up 5.1% after reporting positive top-line results from HARMONIZE, its second Phase 3 clinical trial of ZS-9. DOWN AFTER EARNINGS: AAR Corp. (AIR), down 3.5%. ALSO LOWER: Atossa Genetics (ATOS), down down 54.5% after ForeCYTE aspirator not awarded FDA clearance... Envision Healthcare (EVHC), down 2.2% after filing to sell 17.5M shares of common stock for holders.
17:32 EDTBBBYBed Bath & Beyond says investing 'significantly' in the business
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16:20 EDTBBBYBed Bath & Beyond up over 6% following Q2 results, guidance
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16:19 EDTBBBYBed Bath & Beyond repurchased approximately $1B of common stock in Q2
As of August 30, the remaining balance of the new $2B share repurchase program authorized in July 2014 was approximately $1.8B.
16:18 EDTBBBYBed Bath & Beyond sees Q4 EPS $1.78-$1.83
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16:17 EDTBBBYBed Bath & Beyond sees FY14 EPS $5.00-$5.08, consensus $5.03
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16:16 EDTBBBYBed Bath & Beyond sees Q3 EPS $1.17-$1.21, consensus $1.20
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16:16 EDTBBBYBed Bath & Beyond reports Q2 EPS $1.17, consensus $1.14
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16:05 EDTMDRXAllscripts, Citra Health announce partnership
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15:31 EDTACNAccenture October 80 weekly straddle priced for 3.9% move into Q4
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15:27 EDTACNNotable companies reporting before tomorrow's open
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15:27 EDTBBBYNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Bed Bath & Beyond (BBBY), consensus $1.14; Copart (CPRT), consensus 41c; HB Fuller (FUL), consensus 76c; Steelcase (SCS), consensus 23c; AAR Corp. (AIR), consensus 38c; Overland Storage (OVRL), one estimate (33c).
15:15 EDTBBBYBed Bath September weekly 63 straddle priced for 5.9% move into Q2
14:25 EDTARRSARRIS management to meet with Stephens
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12:51 EDTBBBYBed Bath & Beyond technical notes ahead of earnings
In the prior three months the shares have moderately outperformed the broader averages. The trend has been bullish, with very little volatility, over the interval. The stock is trading below the middle of its range for the last 52 weeks. There has been a strong degree of resistance at the $65 area since mid April of this year. On strongly bullish news, a breakout above $65 could turn the intermediate-term trend to bullish from neutral. Additional upside objectives could be at the following resistance levels on an increasing band of positive surprises: $67.25, $68.10, and $69.80. If the news is not bullish, the recent uptrend in the prior three months could be broken. A move that remains below $62 would break the short-term uptrend. Additional downside objectives could be at the following support levels on a progressive band of misses: $61.27, $59.61, and $57.80.
10:02 EDTBBBYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Analog Devices (ADI) downgraded to Neutral from Overweight at JPMorgan... Bed Bath & Beyond (BBBY) downgraded to Market Perform at William Blair... Cameco (CCJ) downgraded to Neutral from Buy at BofA/Merrill... Clorox (CLX) downgraded to Neutral from Buy at Citigroup... Concur (CNQR) downgraded to Neutral from Buy at Roth Capital... Del Frisco's (DFRG) downgraded at Sterne Agee... Dick's Sporting (DKS) downgraded to Market Perform from Outperform at William Blair... Dresser-Rand (DRC) downgraded to Hold from Buy at KeyBanc... Equinix (EQIX) downgraded to Market Perform from Outperform at Wells Fargo... Fluor (FLR) downgraded at Wells Fargo... Gordmans Stores (GMAN) downgraded at Canaccord... Jacobs Engineering (JEC) downgraded to Market Perform from Outperform at Wells Fargo... Nanometrics (NANO) downgraded to Hold from Buy at Canaccord... ON Semiconductor (ONNN) downgraded to Neutral from Overweight at JPMorgan... Siemens (SIEGY) downgraded to Equal Weight from Overweight at Barclays... Sigma-Aldrich (SIAL) downgraded to Hold from Buy at KeyBanc... Taminco (TAM) downgraded to Hold from Buy at Jefferies... Viasystems (VIAS) downgraded to Hold from Buy at Canaccord... Watsco (WSO) downgraded to Accumulate from Buy at Global Hunter.
08:29 EDTGSKGlaxoSmithKline weakness creates buying opportunity, says Argus
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08:07 EDTACNAccenture weekly volatility increases into Q4 and outlook
Accenture September weekly call option implied volatility is at 51, October weekly is at 30, November and January is at 21; 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 on September 24.
08:07 EDTGSKFDA Pediatric Advisory Committee to hold a meeting
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07:54 EDTMDRXLeerink to hold a conference
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07:36 EDTBBBYBed Bath and Beyond weekly volatility elevated into Q2 and outlook
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07:10 EDTBBBYBed Bath & Beyond downgraded to Market Perform at William Blair
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07:07 EDTGOOGGoogle planning to build data center in Netherlands, Bloomberg reports
Google will spend over EUR 600M over the next four years to build a data center in the Netherlands, Bloomberg reports. Google will employ about 150 permanent workers at the Eemshaven hub once the job is completed. Reference Linkp
06:56 EDTGOOGGoogle exec to manage Snapchat PR, policy, Re/code says
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06:20 EDTGOOGAlmunia: Google must improve EU settlement or will face charges, WSJ says
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06:00 EDTGOOGFacebook expected to launch new advertising platform, WSJ reports
This week, Facebook (FB) will introduce Atlas, a new advertising platform to improve effectiveness of online ads, the Wall Street Journal reports, citing people familiar with the matter. Atlas is a re-engineered version of the Atlas Advertiser Suite Facebook acquired in 2013 from Microsoft (MSFT). Facebook is looking to challenge Google (GOOG) in the online ad space. Reference Link
05:46 EDTBBBYBed Bath & Beyond downgraded to Market Perform from Outperform at William Blair
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September 22, 2014
12:14 EDTGOOGTel Aviv in negotiations with Waze to relieve traffic jams, Globes reports
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10:15 EDTGSKOn The Fly: Analyst Upgrade Summary
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07:31 EDTBBBYBed Bath & Beyond Q2 results likely similar to recent quarters, says UBS
UBS said it expects Bed Bath & Beyond's Q2 results to "look a lot like" its recent quarters, reflecting a modest comp sales increase and ongoing gross margin pressure. The firm maintains its Neutral rating and $62 price target on the stock.
07:21 EDTGSKEBD Group to hold a conference
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06:35 EDTGOOGGoogle hurt by new Chinese Internet cracckdown, NY Times says
New restrictions that China has placed on the Internet is making it more difficult for the country's citizens to use the search giant's services, according to The New York Times. Reference Link
06:34 EDTGOOGGoogle selects HTC to make 9-inch Nexus tablet, WSJ reports
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05:27 EDTGSKGlaxoSmithKline upgraded to Buy from Neutral at Goldman
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September 19, 2014
11:06 EDTBBBYBed Bath and Beyond weekly volatility elevated into Q2 and outlook
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10:12 EDTGOOGSony expected to launch SmartEyeglass by end of March, The Verge reports
Sony (SNE) is expected to launch SmartEyeglass, a competitor to Google Glass (GOOG), by the end of March, according to The Verge. Reference Link
06:43 EDTGOOGYouTube spending more money on original content, Re/code reports
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06:22 EDTGOOGGoogle planning to encrypt phone data in Android, Washington Post reports
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05:58 EDTGSKGlaxoSmithKline to pay GBP 297M fine to Chinese government
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September 18, 2014
15:47 EDTGOOGHimax may be back in with Google, buy shares, says Northland
Northland said Google (GOOG) has finished testing the Samsung OLED displays and have determined they are not bright enough. The analyst believes Google will go back to Himax (HIMX). Google has the option to invest in HIMX by October 21, which the firm believes they will do if they go back to them for displays. Norhtland recommends buying shares aggressively into an expected strong September quarter.
15:44 EDTGOOGHimax may be back in with Google, says Northland
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13:57 EDTGOOGGoogle mulls new R&D unit focused on longer term projects, The Information says
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13:00 EDTJBLJabil Circuits October volatility increases into Q4
Jabil Circuits October call option implied volatility is at 34, December is at 29, January is at 28, compared to its 26-week average of 28 according to Track Data, suggesting slightly larger near term price movement into the expected release of Q4 results after the market close on September 24.
10:40 EDTBBBYPier 1 Imports falls to 12-month low after weak Q2, lowered outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a 12-month low after the company's second quarter results fell below analysts' consensus estimates and it reduced its fiscal 2015 earnings per share outlook. WHAT'S NEW: Pier 1 Imports reported Q2 EPS of 10c on revenue of $418.6M, missing analysts' consensus estimates of 14c and $426.02M, respectively. Same-store-sales for the quarter were up 4.5%. The retailer lowered its FY15 EPS outlook to 95c-$1.05 from $1.14-$1.22. Analysts' consensus estimates for FY15 EPS prior to the earnings report was $1.13. The company sees FY15 SSS in the mid-to-high single digits and gross profit, as a percentage of sales, are expected to be 40.5%-41.5%. Pier 1 Imports CEO Alex Smith said that he foresees online sales to surpass $400M in 2016. WHAT'S NOTABLE: During the company's conference call, Pier 1 Imports said that it expects to see improving merchandise margins in coming quarters with fewer coupons. The company noted plans to continue returning cash to shareholders in the form of dividends and share buybacks. ANALYST REACTION: This morning, Wells Fargo analyst Matt Neemer downgraded Pier 1 Imports to Market Perform from Outperform. He feels that the stock will be a difficult one to own in the medium term as the retailer moves towards a multi-channel approach. Neemer believes that the company has a difficult journey ahead as it cuts broad-based discounters, and he feels that consumers will take time to get accustomed to the new messaging. He cut his price target range to $15-$16 from $19-$20 for the company. Barclays analyst Alan Rifkin downgraded Pier 1 Imports to Equal Weight from Overweight due to slow revenue growth and heightened promotions. He feels that that the "soft" revenues could continue. He believes that the company's elongated online profitability pipeline and increased promotions are certain to be a burden on the business in ways that the company had not initially thought. Rifkin said that growing the top line will be even harder in the absence of promotions. He reduced his price target for shares to $14 from $18. Argus analyst Christopher Graja downgraded Pier 1 Imports to Hold from Buy due to the company's lower than anticipated Q2 earnings. He feels that in terms of the home furnishings market, companies such as Williams-Sonoma (WSM), Home Depot (HD) and Lowe's (LOW) are more "resilient" for shareholders. Pier 1 Imports was also downgraded to Hold from Buy at BB&T. PRICE ACTION: In morning trading, Pier 1 Imports fell $2.63, or 16.99%, to $12.90. Including today's pull back, the stock is down approximately 45.2% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
08:58 EDTGOOGGoogle October volatility flat on tight three-month price range
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07:26 EDTGOOGGartner: Smartwatch market ready to expand, poised for takeoff, DigiTimes says
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07:19 EDTACNAccenture weekly volatility elevated into Q4 and outlook
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07:18 EDTGOOGSupply chains expect component orders from Motorola through 2014, DigiTimes says
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07:14 EDTACNAccenture should be bought on any weakness, says Wells Fargo
Wells Fargo expects Accenture to report in-line Q4 results but believes that its initial FY15 guidance could come in below expectations, partly due to reduced IT spending this year by some enterprises. However, the firm still thinks that the company has "the most admirable" IT services business" and recommends buying the stock on any near-term weakness caused by a guidance miss. It keeps an Outperform rating on the shares.
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