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Stock Market & Financial Investment News

News For KORS;NTWK;FOSL;AVP;BCS;ZIOP;VAL;LVLT;BYD;FB;QCOM From The Last 14 Days
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July 30, 2015
18:13 EDTFBOn The Fly: Top stock stories for Thursday
The market began the session in negative territory following the release of second quarter GDP data below economists' estimates. Continuing this morning's slow start, the indexes churned in negative territory for the first half of the day before turning mixed near noon. The Dow and S&P generally lagged behind the Nasdaq, with the S&P narrowly edging into positive territory by session close. ECONOMIC EVENTS: In the U.S., gross domestic product was estimated to have grown at a 2.3% annualized rate in the second quarter, though expectations were for GDP growth of 2.7%. The government also upwardly revised its estimate of first quarter GDP growth to 0.6% from a prior estimate of 0.2% contraction in the period. Initial jobless claims rose 12,000 to 267,000 in the week ended July 25, which was a bit below the expected 270,000 first-time claims. COMPANY NEWS: Facebook (FB) reported earnings and revenues last night that topped expectations, but its shares slid $1.78, or 1.84%, to $95.21 as the social network's growth in daily averages users fell a bit short of the consensus forecast and may have missed the high, "whisper" expectations for its report... Shares of Whole Foods (WFM) sunk 11.61% to $36.08 and hit a 52-week low of $35.57 during the session after the company reported weaker than expected results and provided lower than expected profit guidance. Several analysts downgraded shares of the organic foods grocer in the wake of its quarterly report and outlook. MAJOR MOVERS: Among the notable gainers was T-Mobile (TMUS), which advanced $1.82, or 4.91%, to $38.86 after handily beating analyst estimates and raising its outlook for yearly net customer additions forecast. Also higher following their earnings reports were Mondelez (MDLZ) and WWE (WWE), gaining a respective 5.03% and 17.48%. Among the noteworthy losers was Stratasys (SSYS), which fell $3.82, or 10.47%, to $32.67 after the company rescinded its fiscal year guidance, citing a lack of visibility on growth in the market. The news built on continued fears of overcapacity in the sector, leading to session losses for numerous 3D printer stocks, including an 8.94% drop for peer 3D Systems (DDD). Also lower was Qorvo (QRVO), which declined $9.99, or 14.17%, to $60.49 after its second quarter guidance significantly trailed analyst estimates, after which the stock saw price target reductions from BMO and Brean. Additionally, LinnCo (LNCO) declined $1.83, or 29.33%, to $4.41 after parent company Linn Energy (LINE) announced plans to suspend dividends and reserve roughly $450M from annualized distributions, which saw Linn also slipping 26.32% to $4.76. INDEXES: The Dow fell 5.41, or 0.03%, to 17,745.98, the Nasdaq gained 17.05, or 0.33%, to 5,128.79, and the S&P 500 advanced 0.06, or 0.00%%, to 2,108.63.
16:00 EDTFBOptions Update; July 30, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 16.05. Option volume leaders: AAPL FB SPLS X TWTR BAC NFLX MU CHK BIDU WFM HPQ LNKD MDLZ XOM
12:55 EDTFBOn The Fly: Top stock stories at midday
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11:37 EDTFBFacebook price targets hiked while shares slide after earnings
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11:26 EDTQCOMAppeals court affirms lower court judgment in Microsoft, Motorola patent suit
The 9th Circuit Appeals court affirmed the judgment of a district court in a patent lawsuit between Microsoft (MSFT) and Motorola, which is now owned by Google (GOOG). In its ruling, the appeals court wrote: "With the partiesí consent, the district court conducted a lengthy, thorough bench trial on the RAND rate and range. The court analyzed that evidence in its exhaustive findings of fact and conclusions of law, in a manner consistent with the Federal Circuitís recent approach to establishing damages in the RAND context. The courtís factual findings were properly admitted at the jury trial. The juryís verdict was supported by substantial evidence, and its damages award was proper." In a tweet after the ruling was released, Markman Advisors, which specializes in patent law, stated that Microsoft, Qualcomm (QCOM), InterDigital (IDCC) and others will be affected by this ruling, which it characterized as "tough for licensors of standard-essential patents."
10:18 EDTKORSMichael Kors call activity attributed to takeover speculation
Michael Kors July 40 and 40.5 calls are active on total call volume of 2500 contracts (300 puts) amid speculation private equity is interested in the company. July weekly call option implied volatility is at 40, August is at 52, September is at 42; compared to its 52-week range of 23 to 54. Active call volume suggests traders taking positions for large price movement,
10:13 EDTKORSRumor: Michael Kors strength attributed to takeover speculation
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10:09 EDTFBOptions with decreasing implied volatility
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09:25 EDTFBOn The Fly: Pre-market Movers
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08:42 EDTLVLTLevel 3 weakness a buying opportunity, says Cowen
Cowen views weakness in Level 3 as a buying opportunity, as it believes the company's business remains very much intact despite weakness in its North American enterprise segment. Cowen reiterated its Outperform rating and raised its price target to $65 from $62 on Level 3 shares.
08:17 EDTNTWKNetSol Technologies sees FY15 revenue $49.5M-$50.5M, one estimate $48.84M
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08:16 EDTFBFacebook Q2 results over-delivered, says Brean Capital
Brean Capital said Facebook reported Q2 results that were ahead of expectations despite headwinds from foreign exchange. Brean Capital reiterated its Buy rating and raised its price target to $111 from $108 on Facebook shares, citing its strong execution, careful monetization and its leading long-term position in the digital advertising industry.
08:03 EDTFBFacebook price target raised to $110 from $100 at Oppenheimer
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07:54 EDTFBFacebook price target raised to $115 from $105 at BofA/Merrill
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07:46 EDTFBFacebook price target raised to $108 from $95 at Stifel
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07:45 EDTFBFacebook results impressive despite high expectations, says Baird
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07:41 EDTFBFacebook price target raised to $115 following strong Q2 at Raymond James
Raymond James raised Facebook's price target to $115 from $110 following the strong Q2 report. The firm said engagement trends remain solid and is encouraged by the continued strength in the core platform and monetization of new platforms. Raymond James rates shares an Outperform .
07:33 EDTFBFacebook fundamentals still 'very strong,' says RBC Capital
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07:17 EDTAVPAvon Products backs FY15 modest revenue growth, consensus $7.46B
Sees an approximate 17 point negative impact on reported revenue due to foreign currency translatoin. Sees 200 basis point decline in adjusting operating margin. Sees 50 basis point decline in adjusted operating margin. The company's outlook for full-year 2015 is unchanged except for the impact of the divestiture of the Liz Earle business, which will negatively impact constant-dollar and reported revenue in the second half of 2015 by approximately 1 point.
07:15 EDTAVPAvon Products reports Q2 adjusted EPS 11c, consensus 8c
Reports Q2 revenue $1.82B, consensus $1.80B.
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