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November 29, 2012
10:00 EDTMCEP, EOG, MCRS, CPT, PSA, NRF, IACI, AVB, AIV, PLT, NKE, GES, GOOG, ESS, RIMM, PNR, KMXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: CarMax (KMX) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded to Outperform from Neutral at Macquarie... Guess (GES) upgraded to Overweight from Neutral at Piper Jaffray... InterActiveCorp (IACI) upgraded to Outperform from Market Perform at Wells Fargo... Mid-Con Energy (MCEP) upgraded to Outperform from Neutral at RW Baird... Nike (NKE) upgraded to Overweight from Neutral at HSBC... Northstar Realty (NRF) upgraded to Outperform from Market Perform at FBR Capital... Pentair (PNR) upgraded to Outperform from Market Perform at Bernstein... Plantronics (PLT) upgraded to Overweight from Neutral at JPMorgan... Public Storage (PSA) upgraded to Hold from Underweight at KeyBanc... Research in Motion (RIMM) upgraded to Buy from Neutral at Goldman... Aimco (AIV) upgraded to Outperform from Market Perform at BMO Capital... Camden Property (CPT) upgraded to Outperform from Market Perform at BMO Capital... Essex Property Trust (ESS) upgraded to Outperform from Market Perform at BMO Capital... AvalonBay (AVB) upgraded to Market Perform from Underperform at BMO Capital... Google (GOOG) upgraded to Buy from Hold at Oracle Research... MICROS Systems (MCRS) upgraded to Buy from Neutral at Compass Point.
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September 24, 2015
11:15 EDTGOOGAnalyst sees $55,000 car from Apple as soon as 2019
Apple (AAPL) could introduce a car by as soon as 2019, but assuming an average selling price of $55,000 and 200,000 shipments, the contribution to the tech giant's earnings in that year is probably not enough to "excite" investors, said the research team at Jefferies this morning. However, a car would give the tech giant some "much needed" diversification away from the iPhone and would be positive for the broader tech space, the firm added. RIPE FOR DISRUPTION: Jefferies analysts Sundeep Bajikar, Mark Lipacis and their team say their analysis indicates the automobile industry is "ripe for disruption" and that Apple is well positioned to introduce a car, potentially as early as 2019. A car could add 32c to Apple's earnings per share in FY19 under a best-case scenario, Bajikar tells investors. He assumes a $55,000 average selling price for an Apple Car and an operating margin of 20%, over 1,000 basis points higher than the Street's 2019 margin estimate for electric carmaker Tesla (TSLA). Investors are likely to find the assumptions "highly aggressive," the analyst cautions. Meanwhile, the potential earnings impact is probably not big enough for Apple investors to get excited and earnings contributions from a vehicle may not become meaningful before iPhone decelerates, the analysts argue. However, the firm said it could get more constructive on Apple shares if diversification in earnings were to drive less iPhone risk. Bajikar and Lipacis keep a Hold rating on the iPhone maker with a $126 price target. TOP CHIP PICKS: Efforts in the car market from tech heavyweights Apple and Google (GOOGL) will lead the industry to design and sell more intelligent vehicles, accelerating the growth of semiconductors for automobiles above current forecasts, contend Jefferies' analysts in a separate note to investors this morning. The analysts lay out their top picks among automotive semiconductor suppliers, saying the pending merger of NXP Semiconductors (NXPI) and Freescale (FSL) will create the world's biggest automotive semi company, adding that growth in microcontroller content and networking applications will benefit that combined giant. NVIDIA's (NVDA) automotive sales have grown the fastest since the end of the 2012 fiscal year among the companies the firm follows, while Maxim Integrated (MXIM) had the second fastest growth in that time frame, the analysts noted in naming those two as their other top picks in the space. Lipacis and Bajikar identified Analog Devices (ADI), Microchip (MCHP) and Linear Technology (LLTC) as other notable beneficiaries from the expected growth of semiconductor content in automobiles. PRICE ACTION: Amid broad weakness in the market, Apple shares are down 1.5% to $112.56. Meanwhile, the Philadelphia Stock Exchange Semiconductor Sector index (SOX) is down 2.4% this morning.
10:25 EDTKMXOptions with decreasing implied volatility
Options with decreasing implied volatility: HRTX ATML ARRY YY OVTI RHT KMX
09:26 EDTKMXCarMax says hiring for over 2,000 positions in the U.S.
CarMax is recruiting for more than 2,000 positions in locations across the country. The majority of open positions are in service operations and sales, with additional positions in purchasing and the business office. Positions range from full and part-time, with day and evening shifts available.
08:57 EDTGOOGGoogle price target raised to $781 from $730 at Citi
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07:24 EDTGOOGWPP CEO: Google needs to weed out 'fake' online ad views, FT reports
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06:59 EDTGOOGFacebook and Google more 'Yelp-like' than ever, says Northland
Northland analyst Darren Aftahi says Facebook (FB), Google (GOOG, GOOGL) and (AMZN) have recently added new features that focus on improved local search as well as tools enabling easier business-consumer communication. Facebook and Google are now more "Yelp-like" than ever, Aftahi tells investors in a research note. And while Apple's (AAPL) new "swipe right" feature could drive a near-term surge in Yelp (YELP) app downloads, it may translate into lower engagement on the Yelp app over longer term, the analyst argues. He remains cautious on Yelp's growth prospects and cut his price target for the stock to $17.75 from $21.50. Shares of the local business review site closed yesterday down 25c to $23.10. Aftahi has an Underperform rating on the stock, his firm's equivalent of a sell.
06:08 EDTGOOGSamsung Pay has over $30M in accumulated transaction volume in first month
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September 23, 2015
10:56 EDTAVBAvalonBay management to meet with Jefferies
Meetings to be held in the Baltimore/Mid-Atlantic/Philadelphia area on September 29-30 hosted by Jefferies.
10:20 EDTKMXOptions with decreasing implied volatility
Options with decreasing implied volatility: CVC HRTX NWBO ATML RHT KMX OVTI ADBE ORCL DRI
10:00 EDTKMXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Baytex Energy (BTE) downgraded to Sector Performer from Outperformer at CIBC... CarMax (KMX) downgraded to Perform from Outperform at Oppenheimer... Cytec Industries (CYT) downgraded to Hold from Buy at Jefferies... LG Display (LPL) downgraded to Underperform from Neutral at BofA/Merrill... Magna (MGA) downgraded to Sector Performer from Outperformer at CIBC... Norilsk Nickel (NILSY) downgraded to Neutral from Overweight at JPMorgan... Sherwin-Williams (SHW) downgraded to Neutral from Buy at Longbow... Volkswagen (VLKAY) downgraded to Hold from Buy at Deutsche Bank.
07:34 EDTNKENike shares have room for further upside, says Deutsche Bank
Deutsche Bank analyst Dave Weiner says that despite the 20% year-to-date rally, shares of Nike have room for further upside. Nike's business in China is accelerating and operating margin strength should continue, Weiner tells investors in a research note. The analyst expects Nike to post "modest" Q1 upside when reporting results tomorrow after the close. He keeps a Buy rating on the stock with a $125 price target.
06:22 EDTKMXCarMax downgraded to Perform from Outperform at Oppenheimer
Oppenheimer downgraded CarMax to Perform giving increasing concerns about modestly softer used car sales trends against challenging comparisons. The firm believes CarMax shares could retest recent trough multiples suggesting a potential share price in the low $50s.
September 22, 2015
17:23 EDTGOOGGoogle begins conducting business briefings with analysts, WSJ says
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17:06 EDTGOOGGoogle charges for YouTube ads viewed by bots, Financial Times says
Google has been charging advertisers for YouTube ads even those advertisements were viewed by "robot" computers rather than human beings, reports the Financial Times, citing a study by a group of European researchers. In one example, the research group's "bots" visited two particular YouTube videos 150 times, and Google's AdWords service subsequently charged for 91 of those video views, according to the report. Google told the publication it will contact the group to discuss the results. Reference Link
16:36 EDTKMXOn The Fly: Top stock stories for Tuesday
Stocks on Wall Street began the session sharply lower and remained that way throughout the session. There was little in the way of buying as each of the major equity indexes slid over 1% and the market internals were decidedly negative. The auto industry and biotech sector were both notably weak, after the French government called for an investigation into the entire auto industry in the wake of the Volkswagen (VLKAY) emissions scandal and Democratic Presidential hopeful Hillary Clinton presented a plan to limit the cost of drugs for consumers. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.6% to 224.5 in July, which was better than the 0.4% rise that was expected. The Richmond Fed factory index fell to -5 in September, versus the reading of 2 that was expected. In Asia, the Asian Development Bank cut its growth forecast for the region, citing a weaker outlook for China and India and a delayed recovery in the world's advanced economies. The bank now sees the Chinese economy growing 6.8% this year and 6.7% next year, down from its previous forecasts of 7.2% and 7%, respectively. COMPANY NEWS: Lloyd Blankfein, Goldman Sachs (GS) Chairman and CEO, disclosed that he was diagnosed with lymphoma. "Fortunately, my form of lymphoma is highly curable and my doctors' and my own expectation is that I will be cured," Blankfein stated in an open letter that was shared by the bank... Bank of America (BAC) shareholders approved a proposal to ratify the 2014 amendments to the company's bylaws that permitted the board of directors to determine its leadership structure, meaning Brian Moynihan can retain his dual role as both Chairman and CEO... Shares of several fertilizer companies slid after Mosaic (MOS) announced it will reduce its potash production in response to current crop nutrient market conditions, primarily related to delayed fertilizer purchases in Brazil and North America. Shares of Mosaic finished the day down 7% at $33.87 following last night's announcement, while Potash (POT) fell 6.5% and Agrium (AGU) dropped 3.5%. MAJOR MOVERS: Among the notable gainers was Ashland (ASH), which advanced $2.78, or 2.6%, to $108.50 after announcing it will proceed with a plan to separate into two independent, publicly traded companies. Also higher was Weatherford (WFT), which gained 90c, or 10.7%, to $9.31 after cancelling plans for a public share offering, after which research firms Jefferies and Iberia both reiterated Buy-equivalent ratings on the stock. Among the noteworthy losers were Office Depot (ODP) and Staples (SPLS), which declined a respective 4% and 5.8% after the New York Post quoted a source as saying the FTC may move to block their merger plan. Also lower was Groupon (GRPN), which slipped 2.2% to $4.08 after announcing plans to cut 1,100 jobs related primarily to its international operations. ConAgra (CAG), Carnival (CCL), and CarMax (KMX) fell 7%, 5.5%, and 4.65%, respectively, following their quarterly earnings reports. INDEXES: The Dow fell 179.72, or 1.09%, to 16,330.47, the Nasdaq lost 72.23, or 1.5%, to 4,756.72, and the S&P 500 dropped 24.23, or 1.23%, to 1,942.74.
09:52 EDTKMXCarMax trades sharply lower
The shares are down over 6.4% at time of writing to $58.63. At that price next support is at $56.79. Resistance is at $59.82.
09:09 EDTGOOGFrontier says adds Nest cam, Nest Protect to product offerings
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07:37 EDTKMXCarMax reports Q2 EPS 82c, consensus 76c
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07:15 EDTGOOGCloudFlare raises $110M from consortium of Google, Microsoft, others
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06:43 EDTNKENike September weekly volatility elevated into Q1 and outlook
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