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January 13, 2014
NRF 103rd Annual Convention & Expo 2014 is being held in New York on January 12-15.
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September 24, 2015
15:06 EDTSPLSOffice Depot volatility up on uncertainty of FTC approval of merger with Staples
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14:56 EDTSPLSStaples volatility up on uncertainty of FTC approval of merger with Office Depot
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13:31 EDTSAPAriba settles trade secrets litigation with Coupa
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12:11 EDTMSFTMicrosoft partnership a modest positive for Baidu, says Summit Research
Summit Research analyst Henry Guo said he considers Baidu's (BIDU) newly announced strategic partnership with Microsoft (MSFT) for the Edge browser in Windows 10 as a modest positive, but thinks it is likely only a headline positive in the near term. However, if Baidu were to strike a deal to become the default search engine for Internet Explorer, that would be "huge" for the Chinese company, Guo tells investors in a research note. The analyst has a Buy rating on Baidu shares.
08:51 EDTEBAYCiti cuts Twitter estimates below consensus, drops target to $30
Citi analyst Mark May says his analysis indicates the consensus estimates for Twitter (TWTR) may be too high as they assume "meaningful increases" in monetization which he believes may prove difficult to realize. May cut his 2015, 2016 and 2017 earnings per share estimates for Twitter to 30c, 34c and 58c, respectively, well below the consensus estimates of 34c, 63c, and $1.03. He also cut his 2016 revenue estimate to 3% below the consensus. It will be difficult for the stock to achieve sustained multiple expansion until user growth accelerates and/or revenue growth stabilizes, May tells investors in a research note. He moved the stock to Citi's "High Risk" designation given Twitter's recent user trends and his belief that his estimates are unlikely to move up in the near-term. He keeps a Neutral rating on the name. May's top picks among U.S. Internet stocks remain Facebook (FB), (AMZN) and eBay (EBAY).
07:45 EDTCSCOCisco CEO confirms Inspur joint venture in China
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06:39 EDTEBAYJPMorgan sees 'choppy' near-term outlook for eBay, cuts target to $32
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06:16 EDTIBMIBM to open second Watson headquarters in San Francisco
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September 23, 2015
20:08 EDTCSCO, MSFT, SNEChinese president visits U.S. amid cybersecurity, copyright worries
As part of his first official U.S. visit, Chinese president Xi Jinping held a meeting with American business leaders on Wednesday to address concerns of copyright infringement and cybersecurity, among numerous topics. In attendance were corporate giants from both nations, including Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Cisco (CSCO), Alibaba (BABA), Tencent (TCEHY), and Baidu (BIDU), according to media reports. COPYRIGHT CONCERNS: Responding to oft-cited concerns of copyright infringement by Chinese companies, Xi said China will "stand firm to protect" the intellectual property rights of American companies, according to Wall Street Journal coverage of the event. Note that in late 2014, China began establishing specialized courts to deliberate on intellectual property rights cases, and Xi commented Wednesday that "the newly established IPR courts are working smoothly. This means there will be much stronger IPR protection which will serve the interests of foreign businesses as well as Chinese companies." Chinese consumer electronics company Xiaomi is perhaps the most talked-about firm when it comes to the matter, with media outlets frequently criticizing its alleged "copying" of Apple design sensibilities. In mid-July, Xiaomi VP of global operations Hugo Barra told Bloomberg that the company is preparing to enter U.S. markets, though he cautioned that the launch could be "much more" than a year away as it seeks to build up its patent portfolio. CYBERSECURITY TENSIONS: Wednesday's meeting comes in the wake of numerous high-profile "hack attacks," with Sony (SNE), American Airlines (AAL), Anthem (ANTM), United Airlines (UAL), and Target (TGT) all reporting digital security breaches in recent years. Xi has consistently denied the involvement of state-backed hackers, but tensions have nevertheless arisen as cybersecurity firms such as FireEye (FEYE) and Palo Alto Networks (PANW) backtrace connections to the country. Cybersecurity intrusions originating from China have recently slowed ahead of Xi's visit, according to Reuters, with Kevin Mandia of security firm Mandiant telling the publication, "In my gut, I feel like the Chinese and the U.S. over the next couple of years are going to figure this out."
16:34 EDTCSCOOn The Fly: Top stock stories for Wednesday
Stocks began the day in quiet fashion and remained that way during the first hour of trading. Following the release of the weekly energy inventory report, the averages moved lower and looked to be possibly setting up for another selloff. Positive comments on China's economy by its President, who is visiting the U.S., brought out buyers, who pared the market's losses. The averages finished slightly in the red in a day marked by low volume as a number of market participants may have been absent in observance of the Jewish holiday of Yom Kippur. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing purchasing manager's index was flat at 53.0 in September, which was slightly better than the expectation for it to dip to 52.8. EIA inventory data showed a 1.93M barrel fall in crude oil inventories, versus expectations for a weekly drawdown of 1.25M barrels. In China, Markit's flash manufacturing PMI fell to 47.0 in September from 47.3 last month. In Europe, Markit's composite PMI for the eurozone came in at 53.9 in the first look for September, down from 54.3 in August and below expectations for a reading of 54.1. COMPANY NEWS: Shares of Volkswagen (VLKAY) trading in New York rebounded 6.5% to $27.10 following the resignation of Chief Executive Officer Martin Winterkorn, with the company's supervisory board subsequently praising the decision and saying it will consider his replacement at a meeting Friday. Prior to the CEO change news, the stock was downgraded at research firms JPMorgan, Deutsche Bank and Natixis to hold or equivalent ratings this morning. Accounting for today's advance, U.S.-listed shares of Volkwagen are still down nearly 29% since last Friday, when the EPA publicly accused the automaker of equipping certain diesel cars sold in the U.S. with software that circumvented emissions standards... Against the backdrop of China's President Xi Jinping visiting the U.S., Boeing (BA) announced deals to sell 300 planes to three Chinese companies and set up an aircraft factory in China. The deals are possibly worth tens of billions of dollars in total and represent the largest total order the planemaker has received from Chinese companies, according to Reuters. The Wall Street Journal reported, citing people familiar with the matter, that Cisco (CSCO) plans to announce a partnership with Chinese server maker Inspur Group during President Xi Jinping's visit. MAJOR MOVERS: Among the notable gainers was First Niagara (FNFG), which advanced $1.30, or 14.5%, to $10.26 following a Bloomberg report that the company is exploring a sale. DealReporter noted that potential suitors include Toronto-Dominion Bank (TD), Huntington Bancshares (HBAN) and New York Community Bancorp (NYCB). BioMed Realty (BMR) gained $2.36, or 12.3%, to $21.54 after Bloomberg reported that the company is in talks to sell itself and has attracted attention from firms including Blackstone (BX). Heron Therapeutics (HRTX) rose $7.25, or 21.6%, to $40.81 after announcing that its Phase 2 study of HTX-011 for post-operative pain met its primary endpoint. Shares of a competitor Pacira (PCRX) declined 7.65% after the news, with several analysts remarking that Heron's data compares favorably versus Pacira's Exparel drug. Summit Midstream Partners (SMLP) declined $3.90, or 18.2%, to $17.52 following a Bloomberg report that Energy Capital Partners is seeking to sell its stake in the company. Synchronoss (SNCR) fell 10.75% to $33.37 after research firm Baird said it has become "increasingly concerned" that Verizon (VZ) is "no longer fully committed" to the white-label cloud product it offers in conjunction with the cloud services provider. INDEXES: The Dow fell 50.58, or 0.31%, to 16,279.89, the Nasdaq lost 3.98, or 0.08%, to 4,752.74, and the S&P 500 declined 3.98, or 0.2%, to 1,938.76.
16:13 EDTMSFTMicrosoft partners with Baidu for Windows 10 upgrade
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10:20 EDTORCLOptions with decreasing implied volatility
Options with decreasing implied volatility: CVC HRTX NWBO ATML RHT KMX OVTI ADBE ORCL DRI
10:00 EDTMSFTMicrosoft and mcaConnect form joint program offering AX4Lean
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09:18 EDTMSFT, IBM, CSCOPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
08:25 EDTSPLSVeidekke subsidiary to build commercial warehouse for Staples
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08:07 EDTMSFTDataStax announces strategic collaboration with Microsoft
DataStax announced a strategic collaboration with Microsoft to deliver Internet of Things, Web and mobile applications in public, private or hybrid cloud environments. With DataStax Enterprise available on Azure, Microsoft's cloud computing platform, enterprises can quickly build high-performance applications that can massively scale and remain operationally simple across public and private clouds, with ease and at lightning speed.
07:04 EDTSPLSJefferies still thinks Staples, Office Depot merger gets approved
Jefferies analyst Daniel Binder still expects the merger between Staples (SPLS) and Office Depot (ODP) to win regulatory approval after the New York Post reported yesterday that Deborah Feinstein, the Federal Trade Commission Bureau of Competition head, is seeking to block the deal. Admitting he's in the minority, Binder says his work indicates that economic data for the deal "may not be damning," customer complaint activity is low and key industry player WB Mason is not in talks to be part of a solution for an FTC remedy requirement. The proposed merger could still get approved without a remedy requirement, the analyst told investors last night in a research note. He views the risk/reward on shares of Staples as favorable. The stock closed yesterday down 79c to $12.75. If approved, enthusiasm around deal synergies could push the stock to $20, Binder writes. If regulators deny the merger, the shares of Staples could trade between $11 and $12, the analyst adds.
07:03 EDTFLFoot Locker management to meet with Citi
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06:21 EDTCSCOCisco preps for Inspur deal to bolster China business, WSJ reports
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05:20 EDTSPLSStocks with implied volatility movement; X SPLS
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