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Stock Market & Financial Investment News

News For KMB;JAH;V;CLX;ACTV;IBM;DELL;FB;T;INTC;KO;MA;YHOO From The Last 14 Days
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May 29, 2015
16:44 EDTINTCStocks end week lower as GDP revision closes May on down note
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16:19 EDTINTCOn The Fly: Top stock stories for Friday
Stocks on Wall Street began the final trading day of May with slight losses. The averages began to pick up downside momentum after revised GDP numbers confirmed expectations that the economy shrank in the first quarter of the year. The Wall Street adage of “sell in May, then go away” appeared to be taking hold as the S&P broke a support level and took the other averages with it. Investors are now concerned about a June swoon, as it is historically one of the worst performing months of the year. ECONOMIC EVENTS: In the U.S., the second estimate of gross domestic product showed it shrank at a 0.7% seasonally adjusted annual rate in the first quarter. This was down from the previous estimate that output grew 0.2% from January through March, but better than the revision to a 1% decline that had been forecast by analysts. The Chicago PMI unexpectedly dropped 6.1 points to 46.2 in May, versus expectations for it to have risen to a reading of 53. The University of Michigan's consumer sentiment reading came in with a 90.7 reading for the final May print, which was up from the preliminary 88.6 reading for the month but down from April's 95.9 figure. COMPANY NEWS: Shares of Humana (HUM) jumped $36.24, or 20.31%, to $214.65 after The Wall Street Journal said the company has hired Goldman Sachs (GS) to help it explore a potential sale after receiving indications of takeover interest. Some of the Journal's sources reportedly said Aetna (AET) and Cigna (CI) are among possible bidders for Humana. Bloomberg then said Humana's sale exploration came after Cigna made a takeover approach. Leerink analyst Ana Gupte wrote in a note to investors on May 12 that consolidation in the industry remains likely, adding that a deal between Aetna and either Cigna or Humana were both "meaningfully accretive" and "imminent" possibilities. MAJOR MOVERS: Among the notable gainers was Heron Therapeutics (HRTX), which gained $7.41, or 60%, to $19.76 after the company reported positive top-line data from a Phase 3 marketing study looking at Sustol as part of a 3-drug regimen for the prevention of delayed-onset chemotherapy-induced nausea and vomiting following administration of highly emetogenic chemotherapy agents. Also higher was Altera (ALTR), which advanced $1.88, or 4%, to $48.85 after reports from The New York Post and Financial Times claimed the company is near a deal to be acquired by chipmaking giant Intel (INTC) for up to $54 per share. Reuters, meanwhile, revised its prior report to indicate the potential price of the deal could be close to $16B. Among the noteworthy losers was Abercrombie & Fitch (ANF), which fell $1.63, or 7.38%, to $20.47 after Janney Capital downgraded the stock to Sell from Hold and warned the company's comparative sales may continue to drop year-over-year as it changes nearly every aspect of its business. Also lower were shares of Bristol-Myers Squibb (BMY), which dropped $4.55, or 6.58%, to $64.60 after the company reported data from a Phase III study evaluating Opdivo in previously-treated patients with advanced, non-squamous non-small cell lung cancer. Biotech analyst Mark Schoenebaum reportedly said Bristol-Myers' data from its Checkmate 057 study opens the door for lung cancer competition from Merck (MRK) and Roche (RHHBY), according to TheStreet's Adam Feuerstein. INDEXES: The Dow dropped 115.44, or 0.64%, to 18,010.68, the Nasdaq lost 27.95, or 0.55%, to 5,070.03, and the S&P 500 fell 13.40, or 0.63%, to 0.63.
16:00 EDTINTC, FBOptions Update; May 29, 2015
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13:07 EDTINTCOn The Fly: Top stock stories at midday
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12:45 EDTINTCAltera near deal to be acquired by Intel for $16B, Reuters reports
Prior reports from media sources have said Intel (INTC) is near a deal to buy Altera (ALTR) for about $15B, but Reuters revised a prior report to indicate the potential price of the deal could be close to $16B. Reference Link
12:42 EDTINTCAltera near deal to be acquired by Intel for $16B, Reuters reports
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11:56 EDTINTCAltera options active on renewed takeover speculation
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11:12 EDTINTCIntel deal for Altera could be announced as soon as next week, FT says
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09:36 EDTINTCAltera, Intel talks continuing, CNBC's Faber says
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09:35 EDTFB, INTCActive equity options trading on open
Active equity options trading on open: AAPL INTC VLO FB HFC AMZN FB BRCM FCX
09:19 EDTINTCOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Magnachip (MX), up 5.8% after reporting quarterly results and CEO transition... GameStop (GME), up 6.4%... Infoblox (BLOX), up 1.6%... Ulta Salon (ULTA), up 1.1%. ALSO HIGHER: Transgenomic (TBIO), up 44.2% after launching Multiplexed Ice Cold-PCR CLIA service... Heron Therapeutics (HRTX), up 37.7% following positive results from Sustol study... Altera (ALTR), up 5% following a NY Post report that Intel (INTC) is close to buying Altera for up to $54.00 per share... Intel is up marginally. DOWN AFTER EARNINGS: Frontline (FRO), down 4.9%. ALSO LOWER: Cyberark (CYBR), down 3.2% after filing to sell $50M in common stock and $200M for stockholders.
07:15 EDTINTCBroadcom-Avago deal may not be tech's largest for long, Bloomberg says
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06:18 EDTIBMIBM allowing employees to use Macs for the first time, 9to5Mac reports
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06:16 EDTFBFacebook implied volatility of 20 at lower end of index mean range
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05:52 EDTINTCIDC: PC shipments to decline for fourth straight year in 2015, DigiTimes says
The IDC said PC shipments will decline by 6.2% in 2015 and will be the fourth consecutive year of falling volume, reports DigiTimes. The market almost saw stable shipments in mid-2014 as the end of support for Windows XP boosted demand, but that cycle passed and was replaced by a reduction in inventory on the supply side as the market awaits the arrival of Windows 10. Reference Link
05:52 EDTINTCIDC: Worldwide tablet growth to decline 3.8% in 2015, DigiTimes says
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05:38 EDTINTCIntel close to buying Altera for up to $54/share, NY Post reports
Intel (INTC) is near a deal to buy rival Altera (ALTR) for about $15B or up to $54 per share, Josh Kosman of the New York Post reports, citing a source close to the situation. Altera reportedly rejected an earlier buyout price from Intel of $54 per share, but that was before it reported disappointing earnings results, Kosman points out. Intel has no interest in competing with Avago (AVGO) to acquire Broadcom (BRCM), a source told the reporter. Shares of Altera are trading up $4.52 to $51.49 in the pre-market. Reference Link
May 28, 2015
19:13 EDTYHOOGoogle to launch free unlimited photo, video storage, AP says
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16:03 EDTFBOptions Update; May 28, 2015
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13:52 EDTVVisa says Google first partner to participate in Digital Enablement Program
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12:31 EDTFBStocks with call strike movement; PBR FB
Petrobras (PBR) October 10 call option implied volatility increased 2% to 52, Facebook (FB) September 90 call option implied volatility increased 2% to 26 according to IVolatility.
10:55 EDTFBGoPro rises after confirming plans to enter drone, VR markets
Shares of GoPro (GPRO) are rising after the action camera maker confirmed it is developing a camera array for virtual reality filming and is also making its own drone for consumers. WHAT'S NEW: GoPro is developing a product that can create video which can be viewed on virtual reality headsets, GoPro CEO Nick Woodman said at the Code Conference, according to Re/code. Called a Six-Camera Spherical Array, the device uses six of GoPro's Hero4 cameras and a product from Kolor, a virtual reality software company GoPro acquired in April. GoPro is also building its own drone geared to consumers, Woodman said, according to Re/code. However, the company will continue to provide cameras to other drone makers, the website noted. ANALYST REACTION: In a note to investors earlier today, Piper Jaffray analyst Erinn Murphy said that GoPro's virtual reality product should be available in the second half of this year and cost $500-$1,500. The drone is expected to be available in the first half of next year and is likely to be sold for $500-$2,500, the analyst stated. GoPro's expansion into the drone and virtual reality markets could undermine bears' contention that GoPro's total available market is low, according to Murphy. Drones and virtual reality should have total available markets of over $5B by 2020 and over $65B by 2025, respectively, estimated the analyst, who kept a $68 price target and Overweight rating on GoPro. Meanwhile, Stifel analyst Jim Duffy wrote that the virtual reality product will have only a minimal impact on GoPro's results in 2015 and 2016. However, the drone offering could increase its 2016 earnings per share by 20c-30c if it is launched in the beginning of the year, according to Duffy, who kept a Hold rating on the stock. WHAT'S NOTABLE: In a note to investors yesterday, well-known Piper Jaffray analyst Gene Munster called virtual reality and augmented reality "the next mega tech themes through 2030." Users will be able to enjoy gaming, live sports, concerts, "immersive cinema," and social experiences using virtual reality, he predicted. Facebook (FB), Google (GOOG,GOOGL) and Apple (AAPL) are likely to benefit from this trend, Munster believes. PRICE ACTION: In mid-morning trading, GoPro climbed nearly 8% to $57.43.
10:38 EDTKMBKimberly-Clark says prefers organic expansion vs. inorganic growth
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10:02 EDTFBSandvine: Netflix accounts for 36.5% of peak Internet traffic, Variety reports
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09:34 EDTT, FBActive equity options trading on open
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09:05 EDTINTCIntel partners with SoftServe for Internet of Things solutions
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08:11 EDTIBMIBM and ThinkData Works announce partnership to make open data more accessible
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08:06 EDTFBFacebook bringing Internet.org service to Pakistan with Telenor
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06:26 EDTYHOOYahoo to face alleged email interception lawsuit, Reuters reports
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06:07 EDTFBFacebook implied volatility of 20 at lower end of index mean range
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05:50 EDTINTCTSMC expects to beat Samsung in 10nm race, DigiTimes reports
TSMC (TSM) expects to beat Samsung (SSNLF) in ramping up production on its 10nm lines, reports DigiTimes. TSMC expects Intel (INTC) to be a major competitor in the 10nm FinFET race. Reference Link
May 27, 2015
16:03 EDTYHOO, FBOptions Update; May 27, 2015
iPath S&P 500 VIX Short-Term Futures down 82c to 18.56 Option volume leaders: AAPL KORS BRCM MCD FB MNKD AAL YHOO BAC MU ANF S EOX
16:00 EDTKOCoca-Cola releases statement on FIFA investigation
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15:00 EDTINTCBroadcom, Avago deal would make strategic sense, says Piper Jaffray
Piper Jaffray analyst Ruben Roy said he believes a merger deal between Broadcom (BRCM) and Avago (AVGO), as the companies were said by the Wall Street Journal to be discussing, would make strategic sense. Roy said that if average take-out multiples in the semiconductor space over the past several years are used as a guide, Broadcom could be valued near $58 per share in a takeover. He added that he thinks Intel (INTC) could continue to be interested in Broadcom, especially with its reported talks to buy Altera (ALTR) "in limbo." Roy maintains a Neutral rating on Broadcom shares.
10:58 EDTKOWhiteWave call activity attributed to takeover speculation
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10:38 EDTFBFacebook testing Yelp-like feature for restaurant pages, ClickZ reports
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10:32 EDTFBTwitter beats LinkedIn as top social media site for salespeople, Forbes reports
In a survey conducted by Forbes with a client, Twitter (TWTR) beat LinkedIn (LNKD) to become the top social media network for salespeople. When it came to sales prospecting, Twitter was "slightly more valuable" than LinkedIn, according to the survey, though both sites beat out Facebook (FB) and Google (GOOG). Reference Link
10:01 EDTJAHOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abbott (ABT) initiated with a Buy at Evercore ISI... Aldeyra (ALDX) initiated with a Buy at Janney Capital... Black Stone Minerals (BSM) initiated with a Neutral at Credit Suisse... Boston Scientific (BSX) initiated with a Buy at Evercore ISI... Cidara Therapeutics (CDTX) initiated with a Buy at BTIG... Coach (COH) initiated with an Underweight at BB&T... Diplomat Pharmacy (DPLO) initiated with an Outperform at Raymond James... EPIRUS (EPRS) initiated with a Buy at BTIG... Enviva (EVA) initiated with a Buy at Citigroup... General Finance Corp (GFN) initiated with an Outperform at Oppenheimer... Hortonworks (HDP) initiated with an Outperform at Oppenheimer... Jarden (JAH) initiated with a Buy at UBS... Kate Spade (KATE) initiated with a Buy at BB&T... Medtronic (MDT) initiated with a Hold at Evercore ISI... MoneyGram (MGI) initiated with a Neutral at Goldman... Opexa Therapeutics (OPXA) initiated with a Buy at Maxim... Paratek Pharmaceuticals (PRTK) initiated with a Buy at BTIG... Progenics (PGNX) initiated with a Buy at BTIG... Rite Aid (RAD) initiated with a Buy at Mizuho... St. Jude Medical (STJ) initiated with a Buy at Evercore ISI... Starwood Waypoint (SWAY) initiated with an Outperform at Wells Fargo... Talen Energy (TLN) initiated with a Hold at Deutsche Bank... Ulta Salon (ULTA) initiated with a Buy at Buckingham... Vipshop (VIPS) initiated with a Buy at Stifel... Virtu Financial (VIRT) initiated with a Neutral at Citigroup... Vista Outdoor (VSTO) initiated with a Buy at Wunderlich... ZELTIQ (ZLTQ) initiated with a Buy at Northcoast... eBay (EBAY) initiated with a Buy at Topeka.
10:01 EDTYHOOOn The Fly: Analyst Downgrade Summary
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09:38 EDTFBActive equity options trading on open
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09:20 EDTIBMIBM to hold a webcast
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09:17 EDTFBFacebook's Oculus acquires Surreal Vision, terms not disclosed
Facebook-owned Oculus announced in a blog post yesterday the acquisition of Surreal Vision. Oculus explains, "Surreal Vision is one of the top computer vision teams in the world focused on real-time 3D scene reconstruction – generating an accurate representation of the real world in the virtual world. Great scene reconstruction will enable a new level of presence and telepresence, allowing you to move around the real world and interact with real-world objects from within VR." Reference Link
08:39 EDTFBSony purchases Optical Archive, WSJ reports
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06:52 EDTINTCIntel recent weakness a buying opportunity, says Jefferies
Jefferies sees a good setup for shares of Intel in the second half of 2015 and recommends buying the stock following the recent weakness. The firm sees the potential for upside surprises in the second half as PC inventory restocks and reiterates a Buy rating on Intel with a $48 price target.
06:48 EDTYHOOYahoo downgraded to Hold at Evercore ISI
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06:13 EDTFBTech companies look for ways to fend off activist investors, WSJ reports
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06:11 EDTKOCoca-Cola expected to soon close Monster Beverage stake deal, WSJ reports
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06:05 EDTYHOOYahoo downgraded to Hold from Buy at Evercore ISI
06:01 EDTFBSnapchat CEO says company 'needs to IPO," Business Insider reports
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05:31 EDTJAHJarden initiated with a Buy at UBS
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May 26, 2015
20:50 EDTV, KMB, MABernstein to hold a conference
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18:32 EDTFBFacebook India offers content creators exclusivity deals, Economic Times says
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18:11 EDTYHOOGoogle, Yahoo inquired about buying Flipboard, WSJ says
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16:01 EDTFBOptions Update; May 26, 2015
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11:54 EDTYHOOOptions with increasing implied volatility
Options with increasing implied volatility: VIPS DGX CVC JIVE LBTYA BBBY YHOO NKE CAN DTV
11:40 EDTYHOOStocks with call strike movement; YHOO BABA
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07:19 EDTFBFacebook being scrutinized on several fronts in Europe, NY Times reports
In recent months, several different European regulators have been examining facets of Facebook's (FB) operations and it remains to be seen whether the social network operator has learned from the past mistakes of companies such as Intel (INTC), Microsoft (MSFT) and Google (GOOG) in terms of navigating Europe’s legal system, said The New York Times. The European Union is looking into whether Facebook unfairly favors its own services, the region’s top court will issue a preliminary decision next month on whether Facebook can continue transferring user data between Europe and the U.S. and a number of EU data protection watchdogs are questioning Facebook’s privacy settings, the report noted. Reference Link
07:17 EDTIBM, INTCConsumer Electronics Association to hold a conference
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May 25, 2015
12:55 EDTIBMQAD selects IBM cloud to expand services for Australian, New Zealand clients
QAD (QADA, QADB) announced it has chosen IBM’s (IBM) Cloud Centre in Sydney, Australia to expand hosting options for QAD Cloud ERP customers. The expansion of data center services is in response to demand from Australian and New Zealand companies transitioning from on premise ERP to Cloud ERP.
12:41 EDTKOCoca-Cola, Speedway Motorsports extend partnership through 2020
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May 22, 2015
16:00 EDTINTC, FBOptions Update; May 22, 2015
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14:09 EDTMATarget $19M settlement with MasterCard rejected by banks, Star Tribune reports
Target (TGT) and MasterCard (MA) have both confirmed that their proposed $19M settlement over Target's data breach was not approved by the requisite 90% of banks affected, which appears to send the dispute back to a federal lawsuit that is seeking class action status, reported The Star Tribune. “At this stage we will continue to work to resolve the matter,” stated MasterCard, according to the report. Reference Link
11:23 EDTYHOOStocks with call strike movement; YHOO DAL
Yahoo (YHOO) October 50 call option implied volatility decreased 4% to 27, Delta Air Lines (DAL) September 52.5 call option implied volatility increased 3% to 33 according to IVolatility.
11:00 EDTINTCIntel may be launching next-gen Skylake chips in August, Apple Insider says
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10:33 EDTFBFacebook management to meet with Oppenheimer
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10:12 EDTYHOOChinese report asks if Alibaba should buy Yahoo, GeoInvesting says
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09:34 EDTKOCoca-Cola Bottling enters new distribution agreement with Monster Beverage
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09:34 EDTINTC, FBActive equity options trading on open
Active equity options trading on open: AAPL BABA AMZN FB MU BIDU SDRL BAC INTC EXPE CHK FEYE
May 21, 2015
19:44 EDTFBGoogle advertising head remarks that larger phones may help mobile ads, WSJ says
In a Wall Street Journal interview at the San Francisco ad:tech conference, Google (GOOG) advertising chief Sridhar Ramaswamy commented on the conversation rate from mobile ad viewership to actual mobile sales, stating, "As phones get bigger the [screen] space issue becomes less challenging... [My six-inch phone] is essentially a tablet. People’s ability to navigate sites and fill out forms and such goes up tremendously." Ramaswamy also offered commentary on Facebook's (FB) advertising metrics, asking, "How many of Facebook’s video views are engaged views?" The Journal notes that Google's YouTube waits 30 seconds to register a video view, while Facebook counts a view "more quickly." Reference Link
16:00 EDTYHOO, FBOptions Update; May 21, 2015
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15:10 EDTIBMEarnings Watch: HP buys Aruba, forms Chinese joint venture with split nearing
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14:44 EDTTAT&T plans 'substantial' Mexico investments, WSJ says
In a report published yesterday, the Wall Street Journal said that according to AT&T Mexico's CEO the telecommunications giant plans "substantial" investments in Mexico to broaden and enhance its mobile network as it seeks to increase market share. Reference Link
14:37 EDTTFCC likely to approve AT&T-DirecTV deal with conditions, CTFinancialNews says
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11:15 EDTYHOOStocks with call strike movement; YHOO BABA
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10:55 EDTYHOOAlibaba climbs after Bernstein says mobile, margin potential underappreciated
Research firm Bernstein initiated coverage of Chinese e-commerce gaint Alibaba (BABA) with an Outperform rating, saying that the Street is underestimating the company's potential to grow volumes and improve margins. WHAT'S NEW: Analysts are underestimating the gross merchandise volumes, or GMV, that Alibaba's Chinese e-commerce websites can generate, Bernstein analyst Carlos Kirjner wrote in a note to investors today. Also being underestimated is the company's ability to monetize its GMV, the analyst believes. Mobile will account for the vast majority of volume and monetization of mobile will improve to match or exceed those of PC, according to Kirjner. The Street is also not fully recognizing Alibaba's ability to increase its margins as monetization rises and its hiring slows, the analyst believes. Alibaba's stock may be volatile as the transition to mobile occurs and monetization of PC weakens, but continued GMV growth and improved mobile monetization should enable the company to beat expectations a year from now and beyond, he wrote. The analyst set a $120 price target on the stock. PRICE ACTION: In mid-morning trading, Alibaba gained 2.4% to trade near $93 per share. Yahoo (YHOO), which stated yesterday that its continues to work toward completing the planned spin-off of its remaining stake in Alibaba Group in the fourth quarter of this year, is up nearly 1.5% to $43.41 this morning.
09:36 EDTFBActive equity options trading on open
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08:02 EDTFBDuPont Fabros expands relationship with Facebook at ACC7 data center
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06:26 EDTYHOOYahoo Japan selects SoftBank President Arora as new chairman, Reuters says
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May 20, 2015
16:00 EDTYHOO, FBOptions Update; May 20, 2015
iPath S&P 500 VIX Short-Term Futures up 3c to 19.19. Option volume leaders: AAPL AAL YHOO DAL FB BABA UAL BAC TWTR LUV C TSLA GE MU
14:04 EDTFBFacebook acquires web publisher tool maker Tugboat Yards
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11:03 EDTYHOOYahoo pullback on IRS uncertainty seen as buying opportunity
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10:57 EDTKOKeurig Green Mountain calls active
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10:48 EDTYHOOOptions with increasing implied volatility
Options with increasing implied volatility: WETF CVC YHOO NLY
10:38 EDTKORumor: Keurig Green Mountain active amid renewed Coke-Cola speculation
Shares of Keurig Green Mountain (GMCR) are active amid renewed speculation Coke-Cola (KO) will increase its stake in the company.
10:00 EDTV, MAOn The Fly: Analyst Initiation Summary
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09:42 EDTYHOOYahoo bounces back, levels to watch
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09:36 EDTFB, YHOOActive equity options trading on open
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08:54 EDTYHOOYahoo weakness a buying opportunity, says Morgan Stanley
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08:27 EDTIBMIBM unit sale to Lenovo raises saftey concerns for Navy, WSJ reports
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07:55 EDTYHOOYahoo risk/reward remains favorable despite IRS uncertainty, says UBS
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07:36 EDTV, MAMasterCard Visa risk/reward positive, says Bernstein
Bernstein believes that MasterCard (MA) and Visa (V) offer secular growth, defensiveness, and cash generation. The firm says the companies have "compelling business models" and modest risk. Moreover, the firm believes that the stocks offer opportunity, as it expects investors' concerns about disruption, regulation and growth to dissipate.
07:22 EDTKOCoca-Cola management to meet with SunTrust
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07:17 EDTYHOOYahoo weakness creates buying opportunity, says SunTrust
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07:12 EDTYHOOYahoo volatility increases on uncertainty of taxes on Alibaba spin-off
Yahoo (YHOO) May weekly call option implied volatility is at 66, June is at 40, July is at 35; compared to its 52-week average of 33, suggesting large near term price movement on concerns that a possible change in U.S. tax regulations would affect Yahoo's planned spinoff of its stake in Alibaba (BABA).
06:53 EDTYHOOYahoo says IRS statement on spin-offs doesn't affect previously filed requests
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06:41 EDTYHOOCantor sees 'cloud of uncertainty' around Yahoo plans
Cantor Fitzgerald analyst Youssef Squali believes comments yesterday from the IRS's Office of Associate Chief Counsel regarding tax treatment of certain spinoffs bring a "cloud of uncertainty" around Yahoo's (YHOO) plans to hold a tax-free spinoff of its shares in Alibaba (BABA). Isaac Zimbalist, Senior Technician Reviewer at the IRS' Office Associate Chief Counsel, said that the agency will now hold in abeyance any ruling requests received with regard to spinoffs, according to Bloomberg. Squali reiterates a Buy rating on Yahoo, however, saying shares at $41 remain compelling. His analysis of varying tax treatments of Yahoo's Alibaba spin yields a $16 per share negative impact under a worst case scenario relative to his $60 fair value estimate. Yahoo closed yesterday down $3.38 to $40.98 after Zimbalist's comments brought a late day selloff.
05:57 EDTIBMSAP CEO says Salesforce unlikely to be acquired, Reuters reports
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05:46 EDTYHOOStocks with implied volatility movement; YHOO VIPS
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May 19, 2015
17:13 EDTYHOOYahoo falls on potential IRS changes to spinoff rules, Bloomberg says
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16:51 EDTV, VVisa initiated with an Outperform at CLSA
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16:50 EDTMA, MAMasterCard initiated with an Outperform at CLSA
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16:01 EDTFB, TOptions Update; May 19, 2015
iPath S&P 500 VIX Short-Term Futures down 27c to 19.17. Option volume leaders: AAPL BAC WMT MSFT FB TWTR MNKD NFLX T PBR
15:59 EDTYHOOYahoo at session lows, down over 9%
The move lower in Yahoo (YHOO) is being attributed to speculation on potential changes to IRS rules that may impact the company's planned spin-off of its stake in Alibaba (BABA), according to contacts.
15:56 EDTYHOOChina said to possibly raise tax on cross-border e-commerce, Bloomberg says
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15:20 EDTYHOOYahoo CIO leaves after less than a year in the post, WSJ reports
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13:05 EDTIBMSalesforce deal talks may have 'died down,' dealReporter says
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12:55 EDTINTCPC related stocks struggle after Morgan Stanley says PC turn won't come until Q3
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11:15 EDTINTCAnalyst says Intel takeover of Altera more likely than not
Citi, in a note to investors today, said that the chances of Altera (ALTR) being acquired by Intel (INTC) were greater than 50%. The note comes after multiple news outlets reported yesterday that the two companies have resumed talks about Intel buying the smaller chip maker. ANALYST REACTION: News reports suggest that the odds of Intel buying Altera seem to have increased, wrote Citi analyst Christopher Danely. A deal is more likely to occur than not, according to the analyst. However, he does not believe that the transaction is a done deal. Moreover, the analyst kept a Neutral rating on Intel shares, saying that he does not anticipate changing his rating even if a takeover is consummated. In its own note on Altera this morning, Pacific Crest said it views the breakdown in Dennard scaling and Dark Silicon as an underappreciated positive for the maker of field-programmable gate arrays. The firm sees fair value for Altera at $55-$60 and still thinks that an acquisition by Intel makes sense strategically. PRICE ACTION: In late morning trading, Altera added 0.5% to $47.16, while Intel fell 1% to $33.06.
09:37 EDTFBActive equity options trading on open
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09:17 EDTINTCAltera has 'underappreciated' positive catalyst, says Pacific Crest
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09:03 EDTIBMIBM and United Business Group partner to accelerate hybrid cloud adoption
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09:03 EDTMAMasterCard announces launch of MasterCard Send
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08:34 EDTINTCApple introduces 15-inch MacBook Pro with Force Touch trackpad
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08:33 EDTINTCMorgan Stanley cautious in near-term on PC names
Morgan Stanley is more cautious on PC names near-term, given PC and HDD inventory builds quarter-to-date and weaker April ODM sales. The firm's analyst team continues to believe Q1 was a bottom in year-over-year growth, but now expects normal Q2 seasonal growth instead of above normal and thinks any recovery will likely be delayed until Q3. Morgan Stanley is cautiously optimistic on Western Digital (WDC) due to its diverse revenue drivers, sees value creation catalysts for Hewlett-Packard (HPQ) and believes Microsoft (MSFT) shares reflect the challenging PC market and Win 10. The firm is more cautious on semis such as NVIDIA (NVDA) given higher valuations, share loss at Advanced Micro (AMD), potential 2H margin pressure at Intel (INTC), and Morgan is cautious on PC DRAM stocks near-term due to weaker pricing.
07:43 EDTYHOOJPMorgan to hold a conference
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07:36 EDTTAutomakers to start V2V car rollouts with spectrum at a premium, WSJ says
General Motors' (GM) upcoming Cadillac CTS is the only car firmly scheduled to launch in the U.S. with vehicle-to-vehicle communications, or V2V, but the industry has promised that V2V will revolutionize safety and Cisco (CSCO) joined automakers earlier this month to brief the FCC on plans to test airwave sharing soon, said The Wall Street Journal. However, cable and telecom companies are pressuring carmakers to give up a part of the airwaves marked for V2V to be available for broader use, the report added. Publicly traded automakers include Fiat Chrysler (FCAU), Ford (F), Honda (HMC), Toyota (TM) and Volkswagen (VLKAY), while cable and telecom companies include Verizon (VZ), AT&T (T), Sprint (S), T-Mobile (TMUS), Comcast (CMCSA), Time Warner Cable (TWC) and Charter (CHTR). Reference Link
07:34 EDTIBMIBM invests in WayBlazer and Sellpoints
IBM announced two new investments in WayBlazer and Sellpoints to advance online travel and shopping apps powered by Watson. The announcement is part of IBM's $100M commitment to drive new innovations and business solutions that build on Watson and follows the company's recent investments in Modernizing Medicine and Pathway Genomics. The financial terms of IBM's investments were not disclosed.
07:32 EDTMA, VPacific Crest shifts preference to MasterCard, upgrades to buy
Pacific Crest analyst Josh Beck shifted his preference to MasterCard (MA) from Visa (V) and upgraded the stock to Overweight from Sector Weight. Beck believes interchange legislation in Europe may have an unintended consequence of benefiting global open-loop payment networks, favoring both MasterCard and Visa. The changes are also positive for eBay's (EBAY) PayPal and mixed for American Express (AXP), Beck tells investors today in a research note. He points out his preference for MasterCard relative to Visa follows the latter company's outperformance over the past year. Beck has a $110 price target for MasterCard shares. The stock closed yesterday down 14c to $93.08.
06:18 EDTTDish says followed all rules in bidding strategy for spectrum auction, WSJ says
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06:10 EDTINTCCiti sees over 50% chance of Intel buying Altera
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05:59 EDTMAMasterCard upgraded to Overweight from Sector Weight at Pacific Crest
May 18, 2015
16:00 EDTT, FBOptions Update; May 18, 2015
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15:54 EDTTAT&T CEO sees net neutrality changing within 5-10 years, Wireless Week says
AT&T CEO Randall Stephenson believes the FCC's net neutrality ruling will change within the next five to 10 years, reports Wireless Week, citing statements given Monday at a J.P. Morgan investor conference. "If I believed the rules that were passed by the FCC on Title II were going to be the rules of the land for the next five to 10 years, it would have a dramatic effect on how we thought about investment," said Stephenson, adding that his company's court case against the neutrality rules is "pretty strong." Reference Link
14:34 EDTMAMasterCard set to receive antitrust complaint from EU, Bloomberg says
Regulators from European Union are set to issue an antitrust complaint against Master Card on card-payment fees, says Bloomberg, citing people familiar with the matter. European regulators may send the credit card giant a statement of objections before the end of July, added Bloomberg. Reference Link
12:51 EDTINTCOn The Fly: Top stock stories at midday
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11:16 EDTFBFacebook says move to digital ads from TV and print is 'in early days'
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10:40 EDTINTCIntel, Altera held principal to principal talks late last week, Faber says
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10:37 EDTFBFacebook ramps up interest in games, The Information reports
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09:36 EDTFBActive equity options trading on open
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09:11 EDTINTCIntel, Altera held 'principal to principal' talks last week, CNBC reports
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08:59 EDTTAT&T CEO says gets profitable TV product from 'day one' by buying DirecTV
AT&T (T) CEO Randall Stephenson said AT&T's existing U-verse product is "nice" but unprofitable and that the company will get a profitable TV product from "day one" by buying DireTV (DTV). Stephenson said he expects to take share from cable operators and other TV offerings with its combined offering after the DirecTV deal closes. Stephenson said the company is on target to get the DirecTV deal closed in Q2. Stephenson spoke on CNBC.
08:45 EDTTCogent CEO says considering lawsuit against AT&T, CTFinancialNews reports
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08:22 EDTFBVerizon deal has multiple positive catalysts, says Wells Fargo
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07:27 EDTMA, FB, T, IBMJPMorgan to hold a conference
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07:06 EDTINTCAltera back in talks with Intel about potential takeover, NY Post says
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