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Stock Market & Financial Investment News

News Breaks
April 26, 2013
16:23 EDTAMZN, JCP, PKI, QLIK, EXPE, LOGMOn 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 14, 2015
07:42 EDTAMZNEtsy looking to raise $300M with IPO as soon as this quarter, Bloomberg says
Etsy, which operates a website that allows people to sell handmade crafts, is working with Goldman Sachs (GS) and Morgan Stanley (MS) on an initial public offering that could come as soon as this quarter, said Bloomberg, citing people familiar with the matter. Etsy seeks to raise $300M via the offering, the report said. Publicly traded companies in the e-commerce space include Amazon.com (AMZN), eBay (EBAY), Alibaba (BABA) and zulily (ZU). Reference Link
07:13 EDTAMZNAmazon could buy controlling stake in Blue Dart, Economic Times reports
Amazon is said to be in preliminary talks to buy a controlling stake in Blue Dart, a courier and integrated express package distribution company, The Economic Times reports, citing sources. One source says Amazon could buy a 75% stake in Blue Dart held by DHL Express Singapore, though it was noted that talks are currently at an early stage. Reference Link
January 13, 2015
16:00 EDTAMZNOptions 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.
14:11 EDTAMZNAmazon.com climbs after Citi upgrades to buy
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11:57 EDTQLIKHP 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.
10:30 EDTAMZNAmazon.com tests $300, levels to watch
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10:17 EDTJCPOptions with decreasing implied volatility
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10:00 EDTAMZNOn The Fly: Analyst Upgrade Summary
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09:01 EDTAMZNAmazon Studios signs Woody Allen to create television series
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07:28 EDTAMZNAmazon says created, filled over 6,000 permanent jobs across EU in 2014
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07:26 EDTAMZNAmazon.com survey suggests solid growth trends, says RW Baird
Baird said their recent inventory survey for Amazon.com suggests solid growth trends in selection and marketplace. The firm sees the selection as a key growth driver for Amazon retail. Baird reiterated its Outperform rating and $340 price target on Amazon shares.
07:04 EDTQLIKTop 2015 IT infrastructure ideas identified at Pacific Crest
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06:44 EDTQLIKHP 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.
06:16 EDTAMZNAmazon.com upgraded to Buy from Neutral at Citigroup
Citigroup upgraded Amazon.com to Buy saying the risk/reward on shares is attractive below $300. Citi believes holiday data points look good for Amazon's Q4 results and that the retailer's gross margins will rise in 2015, reversing 2014's downward trend. The firm raised its price target for Amazon to $354 from $325 and thinks the stock has support around $300. Shares of the retailing giant closed yesterday down $5.52 to $291.41.
06:07 EDTAMZNAmazon sued for $25M by Durst Organization, Forbes reports
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January 12, 2015
16:00 EDTAMZNOptions 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.
10:15 EDTJCPOptions with decreasing implied volatility
Options with decreasing implied volatility: NBIX APOL NPSP BBBY INFY JCP MU TIF
09:04 EDTAMZNAmazon wins first Golden Globe for 'Transparent,' Business Insider reports
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07:35 EDTJCPNational Retail Federation to hold a trade show
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06:35 EDTJCPObama to press for law requiring disclosure of hacking, NY Times says
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