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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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April 26, 2015
12:48 EDTQCOMQualcomm could rise 30% to around $90, Barron's says
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April 24, 2015
09:37 EDTFBActive equity options trading on open
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06:16 EDTFBEU considers new regulator to oversee internet companies, WSJ reports
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05:58 EDTFBFacebook implied volatility of 24 at lower end of index mean range
April 23, 2015
14:29 EDTFBFacebook launches video ad partnership featuring Vice, The Onion, Funny or Die
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10:55 EDTFBPac Crest an outlier with bearish note on Facebook following Q1 report
After Facebook last night reported higher than expected first quarter profits but lower than expected revenue. several analysts reacted positively to the company's results, raising their price targets on the social network operator's stock. However, Pacific Crest went against the mostly bullish trend by recommending that investors avoid the stock. WHAT'S NEW: Facebook last night reported first quarter earnings per share of 42c, versus the consensus outlook of 40c. The social network operator's revenue came in below expectations, and the company said that foreign exchange trends negatively impacted its first quarter results. Facebook forecast that foreign exchange headwinds would increase this quarter. Facebook reported that it had 936M daily active users on average last month, an increase of 17% versus the same period a year earlier. Its monthly active users climbed 13% year-over-year to 1.44B in Q1. BULLISH TAKE: Adjusting for currency, Facebook's Q1 revenue would have been 3% higher than the Street's consensus outlook, Piper Jaffray analyst Gene Munster stated. The online network's "story is firmly intact" as its results are likely to be boosted by the ramping of Instagram in 2016, WhatsApp in 2017 and Oculus in 2018, the analyst stated. He kept a $92 price target and Buy rating on the shares. Also upbeat was Deutsche Bank analyst Ross Sandler, who raised his price target on the stock to $100 from $90, saying that its currency headwinds "masked" strong Q1 results. The stock will "grind higher" on new revenue streams and product announcements, predicted Sandler, who kept a Buy rating on the shares. JPMorgan analyst Doug Anmuth raised his price target on the stock to $100 from $85, saying that the company reported strong Q1 results and that it is the best positioned Internet company over the next five years. Moreover, its video ads appear to be hitting a positive turning point, added Anmuth, who kept an Overweight rating on the name. BEARISH TAKE: Facebook's price per ad appears to have declined sequentially last quarter for the first time since early 2013, wrote Pacific Crest analyst Evan Wilson. If that trend continues, its price per ad growth will decelerate significantly this year, according to the analyst. Additionally, the company's margins are contracting and its new products are unlikely to make much of an impact this year, according to Wilson, who recommended that investors choose other stocks over Facebook. PRICE ACTION: In mid-morning trading, Facebook slid 0.7% to $84 per share.
10:00 EDTQCOMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ADTRAN (ADTN) downgraded to Hold from Buy at Needham... Angie's List (ANGI) downgraded to Underperform from Market Perform at Northland... BG Group (BRGYY) downgraded to Hold from Overweight at HSBC... Brink's (BCO) downgraded to Neutral, sees 'imminent' downside risk, says Macquarie... Citrix (CTXS) downgraded to Hold from Buy at Evercore ISI... Cognex (CGNX) downgraded to Perform from Outperform at Oppenheimer... Cytec Industries (CYT) downgraded to Equal-Weight from Overweight at First Analysis... Enbridge (ENB) downgraded to Neutral from Outperform at Credit Suisse... Ensco (ESV) downgraded to Underweight from Equal Weight at Morgan Stanley... F5 Networks (FFIV) downgraded to Neutral from Buy at MKM Partners... Fulton Financial (FULT) downgraded to Market Perform from Outperform at Keefe Bruyette... Halcon Resources (HK) downgraded to Neutral from Outperform at Baird... Heartland Express (HTLD) downgraded on limited earnings growth at Raymond James... Informatica (INFA) downgraded to Market Perform from Outperform at JMP Securities... Knight Transportation (KNX) downgraded to Outperform from Strong Buy at Raymond James... LegacyTexas Financial (LTXB) downgraded to Outperform from Strong Buy at Raymond James... Masco (MAS) downgraded to Neutral from Buy at Citigroup... MobileIron (MOBL) downgraded to Equal Weight from Overweight at Morgan Stanley... Noble Corp. (NE) downgraded to Underweight from Equal Weight at Morgan Stanley... Omnicare (OCR) downgraded to Neutral from Outperform at Credit Suisse... Owens Corning (OC) downgraded to Sell from Neutral at Citigroup... Qualcomm (QCOM) downgraded to Neutral from Outperform at Exane BNP Paribas... RAM Energy (RAME) downgraded to Neutral from Outperform at Baird... Repsol (REPYY) downgraded to Reduce from Hold at HSBC... Stillwater Mining (SWC) downgraded on lack of catalysts at BB&T... Texas Capital (TCBI) downgraded to Outperform from Strong Buy at Raymond James... Texas Instruments (TXN) downgraded to Neutral from Buy at BofA/Merrill... Total (TOT) downgraded to Hold from Buy at Deutsche Bank... Transocean (RIG) downgraded to Underweight from Equal Weight at Morgan Stanley.
09:35 EDTFBActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL FB PBR TWTR AA COST TSLA AMZN TXN BAC
09:31 EDTFOSLFossil view changed to Negative from Mixed at OTR Global
08:27 EDTFBFacebook growth slowing, margins contracting, says Pacific Crest
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08:23 EDTQCOMQualcomm price target lowered to $80 from $87 at Brean Capital
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08:23 EDTFBFacebook reported solid results, says Brean Capital
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08:11 EDTFBFacebook price target raised to $94 from $84 at FBR Capital
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07:49 EDTQCOMQualcomm price target lowered to $80 from $87 at Canaccord
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07:45 EDTFBFacebook price target raised to $100 from $85 at JPMorgan
JPMorgan raised its price target for Facebook shares to $100 saying the company posted strong Q1 results despite a challenging currency environment. The firm highlights Facebook's growth in organic and promoted video views as well as its better ad targeting and measurement tools. JPMorgan continues to view Facebook as the best positioned company in the internet space over the next five years. It keeps an Overweight rating on the stock.
07:28 EDTFBFacebook price target raised to $105 from $88 at RBC Capital
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07:22 EDTFBFacebook thesis strengthened, says Credit Suisse
Credit Suisse said Facebook remains a top pick for 2015 and that its in-line quarter strengthened the firm's Outperform thesis. The firm said the quarter reaffirmed its conviction that Facebook will be able to drive revenue growth without a material increase in ad loads, consensus estimates underestimate long-term monetization potential of new products, and upward bias to estimates from Offers/Local, Instagram, WhatsApp, Oculus, and others. Credit Suisse's price target on Facebook remains $106.
07:17 EDTFBFacebook price target raised to $100 from $90 at Deutsche Bank
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06:48 EDTFBFacebook reported strong Q1 results, says Cantor
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06:18 EDTQCOMQualcomm chip business to recover in 2016, says Citigroup
Citigroup says Qualcomm's Q2 results indicate the "very bad year" for the company's chip business continues. The firm, however, expects the chip unit to recover in 2016 and points out the royalty business is hitting record levels. Citi thinks Qualcomm's final guide-down is near and keeps a Buy rating on the stock with an $88 price target.
06:03 EDTKORSMichael Kors implied volatility of 24 at lower end of index mean range
05:49 EDTFBFacebook Q1 sales a 3% beat ex-currency, says Piper Jaffray
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05:28 EDTQCOMQualcomm downgraded to Neutral from Outperform at Exane BNP Paribas
Exane BNP Paribas downgraded Qualcomm to Neutral following the company's Q2 results.
April 22, 2015
19:14 EDTFB, QCOMOn The Fly: After Hours Movers
UP AFTER EARNINGS: Select Comfort (SCSS), up 3.3%... Alliance Fiber Optic (AFOP), up 6.9%... eBay (EBAY), up 6.2%... Cheesecake Factory (CAKE), up 5.6%... O'Reilly Automotive (ORLY), up 3.8%... Corelogic (CLGX), up 3.2%... Skechers (SKX), up 2.5%... AT&T (T), up 1.3%. ALSO HIGHER: ARRIS Group (ARRS), up 24.9% after acquiring Pace plc. for $2.1B in cash and stock... Esperion Therapeutics (ESPR), up 2.5% after being initiated with an Outperform at RBC Capital... Uniqure (QURE), up 3.7% after being initiated with an Outperform at BMO Capital. DOWN AFTER EARNINGS: Texas Instruments (TXN), down 6.7%... Las Vegas Sands (LVS), down 4.2%... Oceaneering International (OII), down 3.7%... F5 Networks (FFIV), down 2.8%... Xilinx (XLNX), down 3.3%... Qualcomm (QCOM), down 3%... Facebook (FB), down 2.2%... Tractor Supply (TSCO), down 3.1%. ALSO LOWER: Noble Corp (NE), down 1.2% after being downgraded to Underweight from Equal Weight at Morgan Stanley.
18:27 EDTQCOMSemiconductor stocks under pressure after TI, Qualcomm report financial results
Semiconductor stocks are under pressure after earnings reports from Texas Instruments (TXN) and Qualcomm (QCOM). TEXAS INSTRUMENTS: TI reported first quarter results that were lower than analyst expectations, and gave second quarter guidance below consensus estimates. In its Q1 earnings press release, Texas Instruments said its outlook for Q2 is for earnings per share between 60c-70c and revenue in the range of $3.12B-$3.38B. "Our estimates assume continuing weakness in our communications equipment and personal electronics markets, particularly for wireless infrastructure equipment and PCs, respectively. We also do not expect a near-term rebound in foreign currency exchange rates. The annual effective tax rate for 2015 is expected to be about 30%." QUALCOMM: Qualcomm reported Q2 results that were better than analyst's average estimates, but lowered its fiscal year 2015 EPS and revenue views. Qualcomm CEO Steve Mollenkopf said, "While we remain confident in the significant growth opportunities ahead, we are reducing our QCT outlook for fiscal 2015, primarily due to the increased impact of customer share shifts within the premium tier and a decline in our share at a large customer." PRICE ACTION: In after-hours trading, shares of Texas Instruments are down over 6%, while Qualcomm shares are down almost 3%. Other publicly traded companies in the space include AMD (AMD), Intel (INTC), Marvell (MRVL), Microchip (MCHP), Micron (MU), NVIDIA (NVDA), Altera (ALTR), Xilinx (XLNX), and Maxim Integrated (MXIM).
17:32 EDTFBFacebook sees total payments and other fees revenue to decline
Facebook sees total payments and other fees revenue to decline on a year-over year basis for the remainder of the year. Sees FY15 CapEx $2.7B-$$3.2B.
17:23 EDTFBNokia approaches Apple, Amazon, Facebook in sale of maps unit, Bloomberg says
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17:22 EDTFBFacebook says FX headwinds in Q2 will be greater than Q1
17:20 EDTFBFacebook says Q1 Non-Gaap expense increased 57%
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17:18 EDTFBFacebook says FX headwinds impacted Q1 revenue
17:14 EDTFBFacebook sees videos attracting marketers to mobile
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17:11 EDTFBFacebook says Instagram has more than 200M daily users
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16:30 EDTQCOMQualcomm down 2.3% to $67.35 after FY15 outlook lowered
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16:29 EDTQCOMQualcomm CEO says comprehensive review of cost structure initiated
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16:11 EDTQCOMQualcomm sees CSR acquisition closing by the end of summer 2015
Qualcomm (QCOM) said it has not included any estimates related to the proposed acquisition of CSR plc (CSRE) in its FY15 outlook. The acquisition is expected to close by the end of the summer of 2015. The company expects the acquisition to be accretive to Non-GAAP earnings per share in fiscal 2016, the first full year of combined operations.
16:09 EDTQCOMQualcomm sees Q3 EPS 85c-$1.00, consensus $1.14
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16:05 EDTQCOMQualcomm lowers FY15 EPS view to $4.60-$5.00, consensus $5.00
Qualcomm previously saw FY15 EPS $4.85-$5.05. Lowers FY15 revenue view to $25.0B-$27.0B from $26.3B-$28B, consensus $27.22B. The company is reducing its outlook for its semiconductor business, QCT, for the second half of fiscal 2015 primarily due to: the increased impact of customer share shifts within the premium tier, which will reduce our sales of its integrated Snapdragon processors and skew its product mix towards modem chipsets in this tier; and a decline in its share at a large customer.
16:03 EDTFBFacebook down $1.20 to $83.43 after Q1 results
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16:02 EDTFBFacebook reports Q1 daily active users up 17%
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16:02 EDTQCOMQualcomm reports Q2 EPS $1.40, consensus $1.33
Reports Q2 revenue $6.89B, consensus $6.83B.
16:01 EDTFBFacebook reports Q1 EPS 42c, consensus 40c
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16:00 EDTFBOptions Update; April 22, 2015
iPath S&P 500 VIX Short-Term Futures down 22c to 21.30. Option volume leaders: AAPL TSLA TWTR MCD FB PBR AMZN KMI MYL C according to Track Data.
15:30 EDTQCOM, FBNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include eBay (EBAY), consensus 70c... Facebook (FB), consensus 40c... Texas Instruments (TXN), consensus 62c... Las Vegas Sands (LVS), consensus 72c... Qualcomm (QCOM), consensus $1.33... AT&T (T), consensus 62c... F5 Networks (FFIV), consensus $1.50... Plexus (PLXS), consensus 69c... Skechers (SKX), consensus $1.01... Select Comfort (SCSS), consensus 41c... Tractor Supply (TSCO), consensus 41c... Covanta (CVA), consensus (8c)... Crown Castle (CCI), consensus $1.09... Torchmark (TMK), consensus $1.05... Ameriprise (AMP), consensus $2.33... Polycom (PLCM), consensus 21c... Citrix (CTXS), consensus 65c... Core Laboratories (CLB), consensus 85c... Graco (GGG), consensus 78c... Cheesecake Factory (CAKE), consensus 48c... Equifax (EFX), consensus $1.02... SLM (SLM), consensus 7c... Xilinx (XLNX), consensus 50c... O'Reilly Automotive (ORLY), consensus $1.94... Susquehanna (SUSQ), consensus 18c... Raymond James (RJF), consensus 83c... SL Green Realty (SLG), consensus $1.49... CoreLogic (CLGX), consensus 31c... Oceaneering (OII), consensus 62c... Valmont (VMI), consensus $1.49... Brandywine Realty (BDN), consensus 32c... Weatherford (WFT), consensus 1c.
13:51 EDTFBEarnings Watch: Analysts expect Facebook to beat Q1 expectations
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13:51 EDTQCOMQualcomm technical notes ahead of results
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13:28 EDTFBFacebook April weekly 84 straddle priced for 5.4% movement into Q1
13:01 EDTFBFacebook technical comments ahead of results
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08:00 EDTLVLTInfrastructure companies to benefit from OTT growth, says Oppenheimer
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07:10 EDTFBFacebook volatility increases into Q1 and outlook
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06:06 EDTFBGoogle, Facebook seek to reach billions of people without Web access, WSJ says
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06:00 EDTKORSMichael Kors implied volatility of 25 at lower end of index mean range
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April 21, 2015
16:00 EDTFBOptions Update; April 21, 2015
iPath S&P 500 VIX Short-Term Futures down 1c to 21.53 Option volume leaders: AAPL TSLA TWTR GILD FB PBR AMZN C KMI KO VZ MCD according to Track Data.
10:01 EDTFBOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Agios Pharmaceuticals (AGIO) initiated with a Perform at Oppenheimer... Bed Bath & Beyond (BBBY) initiated with a Buy at Cantor... BioCryst (BCRX) initiated with an Outperform at FBR... Bovie Medical (BVX) initiated with an Outperform at JMP Securities... Calavo Growers (CVGW) initiated with a Buy at Janney Capital... Clorox (CLX) initiated with a Sector Weight at KeyBanc... Coach (COH) initiated with a Sell, $32 target at Cantor... Compugen (CGEN) initiated with an Outperform at Oppenheimer... Corcept Therapeutics (CORT) initiated with an Outperform at FBR Capital... Criteo (CRTO) initiated with an Outperform at Raymond James... CytRx (CYTR) initiated with an Outperform at FBR Capital... Dollar Tree (DLTR) initiated with a Buy at Cantor... Facebook (FB) initiated with a Buy at Cleveland Research... Gap (GPS) initiated with a Hold at Cantor... Genocea (GNCA) initiated with an Outperform at FBR Capital... Geron (GERN) initiated with an Outperform at Oppenheimer... Home Depot (HD) initiated with a Hold at Cantor... HubSpot (HUBS) initiated with a Buy at Needham... Jernigan Capital (JCAP) initiated with a Buy at Wunderlich... La Jolla (LJPC) initiated with an Outperform, $43 target at Oppenheimer... Lowe's (LOW) initiated with a Hold at Cantor... Lumber Liquidators (LL) initiated with a Buy, $45 target at Cantor... New Residential (NRZ) reinstated with an Outperform at Credit Suisse... Rent-A-Center (RCII) initiated with a Buy at Cantor... Ross Stores (ROST) initiated with a Hold at Cantor... Rubicon Project (RUBI) initiated with an Outperform at Raymond James... SolarCity (SCTY) initiated with an Outperform at Northland... SolarEdge (SEDG) initiated with a Buy at Canaccord... Spectrum Brands (SPB) initiated with an Overweight at KeyBanc... Summit Materials (SUM) initiated with a Buy at BB&T... Synergy Resources (SYRG) initiated with a Buy at KLR Group... Synta Pharmaceuticals (SNTA) initiated with an Outperform at FBR Capital... TJX (TJX) initiated with a Hold at Cantor... Tiffany (TIF) initiated with a Hold at Cantor... TubeMogul (TUBE) initiated with a Market Perform at Raymond James... Urban Outfitters (URBN) initiated with a Buy at Cantor... WhiteWave Foods (WWAV) initiated with a Neutral at Janney Capital... Williams-Sonoma (WSM) initiated with a Hold at Cantor... Zafgen (ZFGN) initiated with an Outperform at FBR Capital.
09:37 EDTFBActive equity options trading on open
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09:17 EDTFBFacebook initiated with a Buy at Cleveland Research
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08:41 EDTQCOMOptions expected to be active
Options expected to be active: UA TEVA PRGO MYL UTX QCOM VMW HOG CMG IBM VZ
08:19 EDTNTWKNetSol Technologies issues statement on China $46B investment in Pakistan
NetSol Technologies issued the following statement in connection with China's $46B investment aimed at establishing a Pakistan-China Economic Corridor focused on energy and infrastructure development: "As the largest tech company with operations in Pakistan, we see this as an important investment that enhances the country's infrastructure, business environment, and overall economic outlook," said Najeeb Ghauri, CEO of NetSol. "This is the type of investment that demonstrates confidence in Pakistan, and its improving business and security environment. "In addition, we believe that the investment will lower energy costs in the country, providing further benefits to business and the general public."
06:36 EDTQCOMQualcomm April weekly volatility elevated into Q2 and outlook
Qualcomm April call option implied volatility is at 56, May is at 29, June is at 22, compared to its 26-week average of 22 according to Track Data, according to Track Data, suggesting large near term price movement into the expected release of Q2 results after the market close on April 22.
06:01 EDTBCSTeva bid for Mylan could come today, Bloomberg reports
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April 20, 2015
19:32 EDTBCSU.S. pressures JPMorgan, Citi, others to settle forex case by mid-May, FT says
The U.S. Department of Justice is pressuring JPMorgan (JPM), Barclays (BCS), Citi (C), Royal Bank of Scotland (RBS), and UBS (UBS) to reach a settlement by mid-May regarding alleged foreign exchange manipulation, reports the Financial Times, citing people familiar with the situation. The Financial Times notes that the settlement could see some of the banks paying roughly $1B. Sources say that the Department is demanding guilty pleas from "most" of the banks. Reference Link
17:04 EDTZIOPOn The Fly: Top stock stories for Monday
Stocks on Wall Street were higher for the day, beginning the session sharply higher and remaining in positive territory throughout. China’s central bank announced a reduction in bank reserve requirements in an effort to increase liquidity and spur economic growth within the country. Following the open, the market moved in a relatively narrow range as investors await the latest round of earnings reports for one of the season's heavier weeks. ECONOMIC EVENTS: In the U.S., the Chicago Fed National Activity Index came in at 0.42 versus expectations for positive 0.1. In Asia, the People's Bank of China lowered its reserve requirement ratio, by 1 percentage point, the lowest since the financial crisis. Despite this, the Shanghai Composite Index fell 1.6% because regulators had already begun curbing speculative trading on Friday. COMPANY NEWS: Morgan Stanley (MS) advanced 0.57%, or 21c, to $36.96 after reporting earnings prior to the market open. The bank beat on both EPS and revenue, and also raised its dividend to 15c from 10c. CEO James Gorman was pleased with the quarter and cited growth across the majority of the company's operations. MAJOR MOVERS: Among the notable gainers was Hasbro (HAS), which rose 12.55% to end the session at $74.16 after reporting EPS and revenue in excess of analyst expectations. During its earnings conference call, the company appeared confident on its 2015 offerings which include Disney (DIS) Princess and Frozen product lines. Also higher was Rovi (ROVI), gaining 8.64% to close the day at $19.11 after renewing its licensing and program guide agreement with Charter (CHTR). Among the noteworthy losers was Caesars Entertainment (CZR), tumbling 17.01% to $10 after failing to reach an agreement on its restructuring. Also lower were a number of medical companies involved in the development of CAR-T cancer therapies, including Kite Pharma (KITE), Juno Therapeutics (JUNO), blue bird bio (BLUE), and ZIOPHARM Oncology (ZIOP). The drop followed disappointing, small-scale studies presented during the annual meeting of the American Association for Cancer Research. INDEXES: The Dow rose 208.63, or 1.17%, to 18,034.93, the Nasdaq advanced 62.79, or 1.27%, to 4,994.6, and the S&P 500 gained 19.22, or 0.92%, to 2,100.4.
16:01 EDTFBOptions Update; April 20, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 21.52. Option volume leaders: AAPL VZ PBR TWTR TSLA TWTR NFLX MCP FB AMZN AA C according to Track Data.
14:48 EDTQCOMQualcomm to have Samsung foundry make next high-end chip, Re/code says
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12:31 EDTZIOPOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after China’s central bank relaxed reserve requirements for its banks. The nation's own stock market struggled to overcome the cross current of other actions taken to cut down on speculative trading there, but U.S. stock markets surged at the open and had not looked back by midday. The domestic economic calendar has quiet and earnings continue to be the focal point at home, as a great number of S&P 500 companies prepare to report this week. ECONOMIC EVENTS: In the U.S., the Chicago Fed National Activity Index had a reading of -0.42, versus expectations for a +0.10 reading. A reading below zero represents economic activity below trend. In China, the People's Bank of China cut the reserve-requirement ratio, or the amount of reserves lenders need to hold, by 1 full percentage point, which was the biggest cut since the depths of the financial crisis and more than expected by economists. However, the Shanghai Composite Index still dropped 1.6%, since the reserve-requirement cut came after regulators had moved to curb speculative trading with actions taken Friday. COMPANY NEWS: Shares of Morgan Stanley (MS) advanced 1% after the bank's headline earnings excluding certain adjustments and tax benefits beat expectations. CEO James Gorman noted that the first quarter of the year was the bank's "strongest quarter in many years with improved performance across most areas of the firm." Morgan Stanley also increased its quarterly dividend to 15c per share from 10c per share. MAJOR MOVERS: Among the notable gainers was Hasbro (HAS), which gained 10% after the toymaker's sales and profits widely topped expectations in its fiscal first quarter. Also higher was Rovi (ROVI), which gained more than 10% after the company announced it has renewed its patent license and interactive program guide product agreement with Charter Communications (CHTR). Among the noteworthy losers was FARO Technologies (FARO), which dropped 25% and was downgraded by Noble Financial and Needham after the preannounced lower than expected first quarter revenue. Also lower were a number of companies that are developing CAR-T cancer therapies following the annual meeting of the American Association for Cancer Research. Mizuho analyst Peter Lawson attributed the pullback to disappointment in this weekend's solid tumor data on a small number of patients with advanced cancers who were given CAR-T therapy developed by Novartis (NVS) and the University of Pennsylvania. Shares of Kite Pharma (KITE), Juno Therapeutics (JUNO), blue bird bio (BLUE), and ZIOPHARM Oncology (ZIOP) were all lower near noon. INDEXES: Near midday, the Dow was up 236.19, or 1.32%, to 18,062.49, the Nasdaq was up 59.54, or 1.21%, to 4,991.35, and the S&P 500 was up 21.82, or 1.05%, to 2,103.00.
11:57 EDTZIOPMizuho reiterates Buy on Kite Pharma amid selloff
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11:44 EDTZIOPCAR-T therapy stocks fall following cancer research meeting
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10:38 EDTFBFacebook volatility elevated into Q1 and outlook
Facebook April weekly call option implied volatility is at 73, May is at 39, June 30, September is at 29; compared to its 26-week average of 30 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 22.
10:00 EDTKORSOn The Fly: Analyst Downgrade Summary
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09:36 EDTFBActive equity options trading on open
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08:32 EDTBCSBofA/Merrill European strategists hold an analyst/industry conference call
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08:18 EDTKORSMichael Kors downgraded to Neutral with $70 target at Mizuho
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07:56 EDTFBFacebook Q1 results should beat expectations, says Oppenheimer
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07:04 EDTFBFacebook Q1 results should beat expectations, says Cantor
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06:11 EDTKORSMichael Kors downgraded to Neutral from Buy at Mizuho
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06:10 EDTKORSMichael Kors implied volatility of 24 at lower end of index mean range
05:51 EDTFBEU calls for 'level playing field' in telecoms market, Financial Times reports
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April 17, 2015
16:31 EDTAVPStocks end week lower amid earnings reports, fear about Greece, China
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11:16 EDTQCOMRumor: Qualcomm active on activist investor speculation
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10:43 EDTFOSLOptions with increasing implied volatility: PNK FOSL ARCP LO
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April 16, 2015
15:39 EDTFBFacebook volatility elevated into Q1 and outlook
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11:46 EDTFBStocks with call strike movement; FB BABA
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10:51 EDTFOSLOptions with increasing implied volatility
Options with increasing implied volatility: PNK ARRY FOSL NSAM WUBA ARCP CSCO
09:55 EDTKORSMichael Kors view changed to Mixed from Positive at OTR Global (pre-open)
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05:58 EDTFBIndian media groups back out of Facebook's Internet.org, Financial Times reports
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05:55 EDTKORSCoach upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Joan Payson upgraded Coach to Overweight citing greater confidence in the designer's ability to grow domestic store comps with its turnaround "well underway." She expects Coach's competitive pressures to ease and raised her price target for shares to $50 from $38. The maker of handbags closed yesterday down 28c to $41.76. Payson also lowered her price target for shares of Michael Kors (KORS) to $60 from $70 and keeps an Equal Weight rating on the name. She believes Kors may soon be in need of transformation. The analyst keeps an Equal Weight rating on Tiffany (TIF), calling the company a "work in progress."
April 15, 2015
12:33 EDTZIOP, AVPStocks with call strike movement; ZIOP AVP
Ziopharm (ZIOP) October 14 call option implied volatility increased 8% to 97, Avon Products (AVP) July 11 call option implied volatility decreased 2% to 57 according to IVolatility.
10:31 EDTFOSLOptions with increasing implied volatility:
Options with increasing implied volatility: CLDN PNK TLM FOSL ARCP CSCO
08:11 EDTLVLTLevel 3 provides game-hosting provider i3D.net with connectivity in Brazil
Level 3 is providing hosting provider, Netherlands-based i3D.net, to expand its business into Latin America by connecting to Sao Paulo, Brazil. The company's expansion drive into Latin America is supported by the addition of Level 3 datacenter point-of-presence connectivity in Sao Paulo, enabling i3D.net's customers in the region to access locally-delivered content.
06:41 EDTBCSECB authorizes new emergency funding for Greek banks, Reuters reports
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06:35 EDTQCOMSamsung says Galaxy S6 demand much stronger than expected, Reuters reports
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06:18 EDTFBApple, Google, others doubling down on European operations, WSJ reports
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05:51 EDTZIOPStocks with implied volatility movement; ZIOP MNKD
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05:48 EDTAVPStocks with implied volatility movement; WUBA AVP
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April 14, 2015
16:53 EDTAVPOn The Fly: Top stock stories for Tuesday
Stocks on Wall Street were mixed for the day, beginning the session in positive territory helped by better than expected earnings reports from JPMorgan (JPM), Johnson & Johnson (JNJ), and Wells Fargo (WFC). The early economic data was slightly below Wall Street expectations and became a headwind for the market. By the end of the first hour of trading the market had turned negative, and it spent the remainder of the day trading in mixed fashion. ECONOMIC EVENTS: In the U.S., retail purchases for March advanced 0.9%, bouncing up from a 0.5% decline in February. However, economists had predicted a 1.1% growth after improvements on last month's weather. The producer price index grew 0.2% for March, in line with consensus estimates. Core PPI grew 0.2% versus expectations of 0.1% growth. The International Monetary Fund's World Economic Outlook Report trimmed U.S. growth forecast to 3.1% from its previous outlook of 3.6%, while global forecast was left unchanged at 3.5%. COMPANY NEWS: Avon (AVP) surged 66c, or 8.24%, to $8.67 following a Wall Street Journal report that the company is exploring strategic alternatives, including potentially selling its North American business, though a Bloomberg report later in the day claimed the company is not conducting a formal sale process... Nokia (NOK) confirmed it is in "advanced discussions" to buy French telecom firm Alcatel-Lucent (ALU), prompting French President Francois Hollande to schedule meetings with leaders from both companies. Later in the day, the French government announced it supports the potential deal, with French Economy Minister Emmanuel Macron stating Nokia reassured officials by detailing "clear undertakings." Nokia fell 34c, or 4.1%, to $7.96 at the close, while Alcatel jumped 58c, or 13.33%, to $4.93. MAJOR MOVERS: Among the notable gainers was 58.com (WUBA), which rallied 33.52%, or $17.04, to $67.87 after the Financial Times reported the company has signed a memorandum of understanding to merge with rival classifieds service Ganji.com. Also higher was PartnerRe (PRE), which advanced 8.49% to $129.25 after EXOR proposed to acquire the company for $130.00 per share in cash, valuing PartnerRe at $6.4B. Following earnings, JPMorgan (JPM) advanced 1.56% to $63.04 after beating expectations, while Wells Fargo (WFC) fell 0.73% and Johnson & Johnson fell 0.03% after reducing its FY15 earnings guidance. Among the noteworthy losers was Arrowhead Research (ARWR), which tumbled 7.75% after Jefferies downgraded the stock to Hold and lowered its price target to $9 from $30. The firm said that while ARC-520 offers the potential for a Hepatitis B virus functional cure, it prefers to wait for multi-dosing data. Also lower was Norfolk Southern (NSC), which dropped 4.18% to $100.49 and was downgraded to Hold at TD Securities following first quarter guidance that fell below expectations. INDEXES: The Dow rose 59.66, or 0.33%, to 18,036.70, the Nasdaq lost 10.96, or 0.22%%, to 4,977.29, and the S&P 500 advanced 3.41, or 0.16%, to 2,095.84.
14:45 EDTAVPAvon said not to be conducting formal sale process, Bloomberg says
14:05 EDTBYDNJ Gaming reports March total Win $203.9M vs. $199.3M a year ago
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12:59 EDTAVPAvon Products reviewing strategic options, WSJ reports
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12:59 EDTAVPAvon Products volatility elevated into exploring strategic alternatives report
Avon Products overall option implied volatility of 59 compares to its 26-week average of 55 according to Track Data, suggesting large price movement into a WSJ reported the company is exploring strategic alternatives.
12:55 EDTAVPAvon Products resumes trading, shares up 74c to $8.75
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12:55 EDTAVPAvon Products halted for volatility after jumping on WSJ report
Shares of Avon Products halted for volatility after the Wall Street Journal reported the company is exploring strategic alternatives, including a possible sale of its North America business. The stock jumped 69c to $8.70.
12:52 EDTAVPAvon Products reviewing strategic alternatives, Dow Jones says
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11:36 EDTZIOPZiopharm cancels out of two meetings, Bloomberg reports
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11:16 EDTFBCredit Suisse's top Internet picks
Credit Suisse's top large-cap Internet picks remain Amazon.com (AMZN) for operating margin expansion and normalizing International growth, Facebook (FB) for underestimated long-term monitization potential from growing new products, and Google (GOOGL) for a slowdown in capex and narrowing of the mobile-desktop monetization gap. The firm's top small-cap picks are LinkedIn (LNKD) for the ramp of Sales Navigator and acceleration of Marketing Solutions and Yelp (YELP) because of reduced churn and increasing mobile traffic growth and ARPU.
10:58 EDTFBStocks with call strike movement; FB BABA
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10:50 EDTFOSLOptions with increasing implied volatility
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10:48 EDTQCOMAnalysts differ on Qualcomm after activist JANA presses for change
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10:01 EDTQCOMOn The Fly: Analyst Upgrade Summary
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09:00 EDTFBFacebook price target raised to $80 from $72 at BMO Capital
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08:12 EDTQCOMQualcomm businesses worth more together than apart, says Bernstein
After activist investor JANA Partners took a stake of over $2B in Qualcomm and advocated separating the company's chipset and licensing businesses, Bernstein disagrees with JANA, saying that the two businesses are probably worth much more together than they are apart. Bernstein is cautious about the long-term outlook of Qualcomm's business and keeps a Market Perform rating on the shares.
07:28 EDTFBFacebook remains a top 2015 pick at JPMorgan
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06:25 EDTQCOMQualcomm upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill upgraded Qualcomm to Buy and maintained its $80 price target citing valuation. The firm said negatives are widely known and positives include stabilizing royalty trends, potential margin improvement, and capital returns.
April 13, 2015
17:17 EDTAVPAvon Products postpones Investor Day to fall 2015
Avon Products announced that it has decided to postpone to Fall 2015 its Investor Day that the company was originally scheduled to host on May 13. The decision to postpone the meeting follows the recent appointment of James Scully as the company's CFO, to allow the company adequate time to prepare for a more robust discussion at the meeting. Further details, including webcast information, will be announced closer to the event. Avon will provide an update on its turnaround progress when it reports first-quarter 2015 financial results on April 30.
16:21 EDTQCOMOn The Fly: Top stock stories for Monday
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16:01 EDTFBOptions Update; April 13, 2015
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13:26 EDTQCOMOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Dow and S&P 500 slightly lower and the Nasdaq clinging to a narrow gain. The broader market opened in positive territory and the averages moved in a narrow trading range during the morning. The Nasdaq has been the strongest of the indices since the open, though early gains from Apple (AAPL) and Qualcomm (QCOM) had evaporated by near midday, taking a bite out of the gains the index had been seeing earlier in the session. ECONOMIC EVENTS: In the U.S., no major economic data was released. In China, export sales unexpectedly contracted 15% in March, while imports shrank 12.7% last month from a year ago. The March fall in imports was in line with forecasts, unlike the one for exports, which were expected to rise 12%. COMPANY NEWS: Activist investor Jana Partners is putting pressure on Qualcomm to increase stock buybacks and take other actions to increase shareholder value, including an exploration of spinning off its chip unit from its patent-licensing unit. In response to statements made by JANA, Qualcomm noted that it recently increased its stock repurchase authorization to $15B and repeated that it plans to repurchase $10B of common stock within one year. Barry Rosenstein of JANA Partners, while speaking on CNBC, said Qualcomm should buy back $15B of its shares over the next six months, before the company undertakes strategic actions that could move the stock higher... Apple shares were rising early in the trading day but had given up their gains by midday. Pre-orders of its new Apple Watch started Friday. The company did not release any sales figures for the first weekend, but research firm Slice Intelligence estimated that nearly one million customers in the U.S. preordered the device on the first day it was available. MAJOR MOVERS: Among the notable gainers were Alamos Gold (AGI), which rose 6%, and AuRico Gold (AUQ), which rose 7%, after the companies announced an agreement to combine via "a merger of equals" with a transaction equity value of about $1.5B. Upon completion of the deal, former Alamos and AuRico shareholders will each own approximately 50% of the new Alamos Gold and a new company, to be named AuRico Metals, will be created to hold AuRico's Kemess project and some other assets. The newly formed company will own a 4.9% equity interest in the spinoff and the remaining "SpinCo" shares will be distributed 50% each to former Alamos and AuRico shareholders. Also higher was Builders FirstSource (BLDR), which gained 65% after announcing that it has entered into an agreement to acquire ProBuild Holdings in an all-cash transaction valued at about $1.63B. Among the noteworthy losers was Basic Energy (BAS), which fell 8% after Raymond James downgraded the stock to Market Perform based on valuation, substantial pricing pressure, and industry overcapacity. Also lower were U.S.-listed shares of Sina (SINA), which dropped 5% after the Financial Times reported that China's government has warned that it will shut down the company's service if it does not "improve censorship." INDEXES: Near midday, the Dow was down 19.08, or 0.11%, to 18,038.57, the Nasdaq was up 7.93, or 0.16%, to 5,003.91, and the S&P 500 was down 3.04, or 0.14%, to 2,099.02.
13:13 EDTQCOMQualcomm bases after falling from session highs, levels to watch
Shares gapped-up this morning but have since turned negative on the day, trading last at $68.99. At that price next support is at $67.74. Resistance is at $69.46, the descending 50-day moving average resistance line.
13:01 EDTQCOMQualcomm repeats call to buy back $10B in stock within one year
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12:59 EDTQCOMQualcomm 'committed' to ongoing return of capital to stockholders
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12:56 EDTQCOMQualcomm to repurchase $10B of common stock within one year
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12:51 EDTQCOMQualcomm responds to statements by JANA Partners
In response to statements made by JANA Partners, Qualcomm issued the following statement at an investor conference this morning: "Qualcomm welcomes input from our stockholders, including JANA Partners, and we are firmly committed to maintaining an active dialogue with all stockholders and to acting in their best interests. Our opportunities remain strong. Our innovations have made smartphones the most pervasive technology of our time. They come to market through our inclusive licensing program and our cutting-edge chipsets and continue to play an integral role in the expansion of the mobile industry. We are now bringing the benefits of mobile technologies to new areas such as automotive, healthcare, networking, smart homes, smart cities, and wearables among others. Our business continues to generate strong operating cash flows, and we are committed to the ongoing return of capital to stockholders while retaining the financial flexibility to execute on our business plans. We recently significantly increased our stock repurchase authorization to $15 billion, one of the largest capital return programs in the sector. We plan to repurchase $10 billion of common stock within one year in addition to our current capital return commitments. Since inception, we have exceeded our minimum capital return target of 75% of free cash flow. Our Board of Directors and management periodically review our corporate structure. Prior reviews have concluded that the synergies provided by our business model create more value for stockholders than could be created through alternative corporate structures. We will continue to evaluate opportunities to enhance stockholder value and are committed to pursuing the right course of action for all of our stockholders."
10:48 EDTFOSLOptions with increasing implied volatility
Options with increasing implied volatility: CLDN WETF EWH FOSL FXI TLM PRGO ATHN SYMC MAC
10:19 EDTQCOMRosenstein says Qualcomm buyback should be done before moves
Barry Rosenstein of JANA Partners, while speaking on CNBC, said Qualcomm should buy back $15B of its shares over the next six months, before the company undertakes strategic actions that could move the stock higher.
10:16 EDTQCOMJANA's Rosenstein says not definitively recommending Qualcomm split
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10:15 EDTQCOMJANA's Rosenstein says 'convinced' Qualcomm board recognizes issues
Barry Rosenstein of JANA Partners is speaking on CNBC.
10:14 EDTQCOMJANA's Rosenstein says talks with Qualcomm 'very constructive'
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09:34 EDTQCOMActive equity options trading on open
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09:29 EDTQCOMQualcomm moves higher after activist Jana Partners urges breakup
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09:14 EDTVALValspar opens new advanced manufacturing center in Tianjin, China
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07:32 EDTQCOMCerner, Qualcomm announce home health monitoring collaboration
Cerner (CERN) and Qualcomm Life, a subsidiary of Qualcomm (QCOM), announced an agreement to extend Cerner's medical device connectivity capabilities beyond the hospital to the home. Cerner will leverage Qualcomm Life's FDA listed 2net Platform and Hub to seamlessly capture data from medical devices and sensors within a patient's home, and transmit it to Cerner health care clients through Cerner's CareAware device connectivity platform. Through this initiative, care providers can remotely monitor chronically ill patients in near real-time to enable proactive engagement to potentially reduce the risk of an acute care episode.
07:31 EDTQCOMCerner and Qualcomm Life announce collaboration agreement
Cerner (CERN) and Qualcomm Life, a subsidiary of Qualcomm (QCOM), announced an agreement to extend Cerner's industry medical device connectivity capabilities beyond the hospital to the home. Cerner will leverage Qualcomm Life's FDA listed 2net Platform and Hub to seamlessly capture data from medical devices and sensors within a patient's home, and transmit it to Cerner health care clients through Cerner's CareAware® device connectivity platform.
07:20 EDTQCOMQualcomm volatility up into Jana Partners urging company to consider breakup
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06:12 EDTQCOMJana urges Qualcomm to consider breakup, WSJ reports
Activist investor Jana Partners is putting pressure on Qualcomm to consider a breakup and other options to increase the company's stock price, The Wall Street Journal reports. According to a quarterly letter to Jana investors reviewed by the publication, Jana, which is one of Qualcomm's largest shareholders, wants Qualcomm to consider spinning off its chip unit from its patent-licensing unit. Additionally, the investor wants the company to increase stock buybacks, cut costs and make changes to its board of directors, financial reporting and executive pay structure. Reference Link
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