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Stock Market & Financial Investment News

News Breaks
April 26, 2013
16:23 EDTEXPE, LOGM, AMZN, JCP, PKI, QLIKOn The Fly: Closing Wrap
Stocks on Wall Street were mixed after U.S. GDP accelerated during the first quarter, but less than had been expected. The averages opened the session mixed and traded in a narrow range, as each of the major equity indices logged gains of more than 1% for the week. ECONOMIC EVENTS: In the U.S., real GDP growth accelerated to 2.5% in the first quarter, from 0.4% in the prior quarter. However, analysts expected the growth rate to tick up to 3%. Personal consumption in Q1 was estimated to have risen 3.2%, beating expectations for 2.8% growth. The final University of Michigan consumer sentiment index for April rose to 76.4, versus expectations for a 73.5 reading. COMPANY NEWS: J.C. Penney (JCP) traded sharply higher after George Soros disclosed a 7.91% passive stake in the company last night, and a late afternoon report by CNBC's David Faber said that Goldman has commitments for a $1.75B term loan for the company. Shares of J.C. Penney rallied to their highs following Faber's report, closing just off those levels, up $1.76, or 11.55%, to $17.00. MAJOR MOVERS: Among the notable gainers following their earnings reports were LogMeIn (LOGM), up $3.81, or 21.33%, to $21.67, and Qlik Technologies (QLIK), up $2.29, or 9.60%, to $26.14. Among the noteworthy losers was Amazon (AMZN), down $19.89, or 7.24%, to $254.81 after the company reported first quarter earnings that beat estimates, but gave a second quarter operating income view well below the prior year's results. Also lower after reporting earnings was Expedia (EXPE), down $6.41, or 9.87%, to $58.56, and PerkinElmer (PKI), down $4.12, or 11.95%, to $30.35. INDICES: The Dow was up 11.75, or 0.08%, to 14,712.55; the S&P 500 was down 2.92, or 0.18%, to 1,582.24; the Nasdaq was down 10.73, or 0.33%, to 3,279.26.
News For JCP;LOGM;QLIK;AMZN;EXPE;PKI From The Last 14 Days
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January 29, 2016
13:52 EDTAMZNAmazon.com may help Covenant Transportation rise 50%, Barron's says
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13:43 EDTAMZNAmazon filing another clue on future Transportation & Logistics plan, says Baird
Baird analyst Colin Sebastian, who has forecast for some time that Amazon will eventually offer Transportation & Logistics services to third parties, noted that Amazon called itself a "transportation service provider" for the first time in a regulatory filing this morning and added this expense to its cost of sales. Sebastian keeps an Outperform rating and $710 price target on Amazon shares.
11:17 EDTAMZNStocks with call strike movement; AMZN AAL
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10:37 EDTAMZNVIX methodology for Amazon VXAZN down 26% to 37.33
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10:32 EDTAMZNAnalysts remain upbeat on Amazon in face of post-earnings selloff
The shares of Amazon (AMZN) are falling after the company's fourth quarter results came in below expectations. However, many analysts defended the stock, saying that the miss was caused by higher than expected shipping costs, while the company's outlook for operating margin expansion remains intact. RESULTS: Amazon last night reported Q4 earnings per share of $1.00, versus the consensus outlook of $1.56. The company's revenue came in slightly below expectations. The e-commerce giant said the number of consumers subscribing to its Prime service jumped 51% in 2015 versus the year earlier. ANALYST REACTION: Amazon's profit margin came in slightly below expectations because of the large jump in Prime adoption and higher than expected order rates, Piper Jaffray tech analyst Gene Munster wrote. Additionally, a higher than expected percentage of orders on Amazon were lodged with third party retailers, raising the company's fulfillment costs beyond the Street's outlook, Munster stated. However, Amazon said it continues to focus on productivity, and in the past this has been the company's way of saying that its margins are rising, the analyst wrote. As a result, he expects Amazon's margins to beat expectations this year. Munster kept an $800 price target and Overweight rating on the shares. According to Citi analyst Mark May, the decline in the stock in after-hours trading yesterday was overdone. The company's margins, excluding certain items, rose in Q4 versus the same period a year earlier, and the revenues generated by its cloud business jumped 69% year-over-year, May estimated. He continues to expect Amazon's EPS, excluding certain items, to increase to about $20 per share in 2020. May trimmed his price target on the shares to $780 from $785 but reiterated a Buy rating on the stock. Also upbeat on Amazon was Pacific crest analyst Edward Yruma. High fulfillment costs weighed on Amazon's profits, but its results indicate that the company is gaining share in both retail and the cloud, the analyst stated. Moreover, the weakness in the stock creates a good entry point for long-term investors, according to Yruma, who kept an $800 price target and Overweight rating on the shares. Also defending Amazon today were analysts at JPMorgan and RBC Capital. PRICE ACTION: In early trading, Amazon fell 9% to $578 per share.
10:10 EDTAMZNOptions with decreasing implied volatility
Options with decreasing implied volatility: ETE INVN FTNT VMW CTXS NOW COH AMZN NWL NYRT
10:05 EDTJCPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Atlassian (TEAM) upgraded on positive outlook at JMP Securities... BRF S.A. (BRFS) upgraded to Buy from Hold at Deutsche Bank... Bank of America (BAC) upgraded to Outperform from Sell at CLSA... CEMEX (CX) upgraded to Buy from Hold at Jefferies... Chemical Financial (CHFC) upgraded to Outperform from Market Perform at Fig Partners... Computer Programs (CPSI) upgraded to Buy from Hold at Topeka... DST Systems (DST) upgraded to Outperform at Baird... Diamond Offshore (DO) upgraded to Neutral from Sell at Citi... First Cash Financial (FCFS) upgraded to Buy from Neutral at Janney Capital... First Merchants (FRME) upgraded to Overweight from Equal Weight at Stephens... Flex (FLEX) upgraded on solid results at Stifel... Intercept (ICPT) upgraded to Equal Weight from Underweight at Morgan Stanley... J.C. Penney (JCP) upgraded to Neutral from Underperform at Credit Suisse... JetBlue (JBLU) upgraded to Buy from Hold at Evercore ISI... Juniper (JNPR) upgraded to Outperform from Market Perform at Bernstein... Live Oak Bancshares (LOB) upgraded to Buy from Neutral at SunTrust... Microsemi (MSCC) upgraded to Outperform from Market Perform at Wells Fargo... NetSuite (N) upgraded to Buy from Hold at Canaccord... NextEra Energy (NEE) upgraded to Outperform at Baird... Oshkosh (OSK) upgraded to Buy from Neutral at SunTrust... PC Connection (PCCC) upgraded to Market Perform from Underperform at Raymond James... Pinnacle Financial (PNFP) upgraded to Overweight from Equal Weight at Stephens... Potash (POT) upgraded to Outperform from Sector Perform at Scotiabank... Rayonier (RYN) upgraded on valuation at BMO Capital... SanDisk (SNDK) upgraded to Buy from Hold at Needham... Select Comfort (SCSS) upgraded to Outperform from Neutral at Wedbush... Sotherly Hotels (SOHO) upgraded to Buy from Neutral at Janney Capital... Textura (TXTR) upgraded to Outperform from Market Perform at Northland... Valley National (VLY) upgraded to Buy from Hold at Sandler O'Neill.
09:48 EDTAMZNAmazon.com trades off session lows
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09:34 EDTAMZNActive equity options trading on open: AMZN MSFT FB AAPL GILD GE
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09:21 EDTJCP, AMZNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Gigamon (GIMO), up 17.7%... Fortinet (FTNT), up 10%... Flextronics (FLEX), up 10%... Skyworks (SWKS), up 5.7%... Seagate Technology (STX), up 4.9%.. Microsoft (MSFT), up 4.6%. ALSO HIGHER: Inovio Pharmaceuticals (INO), up 8.1% after CEO says Zika vaccine could enter human testing this year... J.C. Penney (JCP), up 2.1% after being upgraded to Neutral from Underperform at Credit Suisse... BRF S.A. (BRFS), up 3.1% after being upgraded to Buy from Hold at Deutsche Bank... Axiall (AXLL), up 83.4% after rejecting $20 per share acquisition proposal from Westlake Chemical (WLK)... Energous (WATT), up 12% after Bloomberg reported that Apple (AAPL) is working with partners in the U.S. and Asia to develop new wireless charging technology. DOWN AFTER EARNINGS: Amazon.com (AMZN), down 10.1%... Electronic Arts (EA), down 6.2%... AbbVie (ABBV), down 4%... American Airlines (AAL), down 1.3%. ALSO LOWER: Gilead Sciences (GILD), down 5.5% after CEO John Martin to assume role of executive chairman and COO John Milligan will be promoted to CEO.
09:03 EDTAMZNAmazon.com weakness creates good entry point, says Pacific Crest
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08:53 EDTAMZNAmazon.com shares should be bought on weakness, says JMP Securities
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08:33 EDTAMZNAmazon.com weakness creates buying opportunity, says RBC Capital
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07:35 EDTAMZNJPMorgan ups Amazon target, says buy on the weakness
JPMorgan analyst Doug Anmuth admits that after four quarters of "big beats and clean results," Amazon.com's Q4 results last night were more mixed. The analyst, however, believes Amazon's "strong topline growth trajectory" in unchanged. He expects the company's margin expansion to continue. Anmuth raised his price target for the shares to $825 from $800 and reiterates an Overweight rating on the name. He recommends buying Amazon on today's selloff. The stock is down $62.35 to $573.00 in pre-market trading.
07:24 EDTAMZNAmazon.com outlook remains positive, says Oppenheimer
After Amazon.com reported lower than expected North American margins and the stock fell in after-hours trading, Oppenheimer blames the miss on seasonal Q4 factors. Consequentially, the firm does not expect a repeat performance this quarter. It says that pricing remains strong at AWS, and it remains upbeat on the company's outlook. Oppenheimer cut its price target on the name to $700 from $745 but keeps an Outperform rating on the shares.
06:50 EDTAMZNDeutsche says buy Amazon 'once the dust settles'
Deutsche Bank analyst Ross Sandler says the post-earnings pullback in shares of Amazon.com shares should create a "nice buying opportunity once the dust settles." He calls around $530 per share a "decent entry point" and notes the Q4 results did not change his long-term bullish thesis. Ross keeps a Buy rating on Amazon with an $800 price target.
06:40 EDTAMZNAmazon.com results better than selloff suggested, says Citi
Citi analyst Mark May says Amazon.com's Q4 results are better than the after-hours stock selloff suggested. May continues to see the business trending toward $20 per share in adjusted earnings per share in 2018. He lowered his price target for the stock to $780 from $785 and reiterates a Buy rating on Amazon.
06:40 EDTJCPJ.C. Penney upgraded to Neutral from Underperform at Credit Suisse
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06:29 EDTAMZNOptions expected to be active: AMZN EA MSFT EWJ FLEX SWKS GOOG GOOGL FB
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05:49 EDTAMZNAmazon.com selloff a buying opportunity, says Piper Jaffray
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