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Stock Market & Financial Investment News

News Breaks
June 3, 2014
08:33 EDTLLNW, AKAM, GOOG, FB, ORCLLimelight, Akamai case sets precedent supported by Google, others, WSJ says
In a move that was urged by tech heavyweights Google (GOOG), Facebook (FB) and Oracle (ORCL), the Supreme Court restored prior legal rules that were loosened when a U.S. appeals court sided with Akamai (AKAM) over Limelight Network (LLNW), said The Wall Street Journal. In yesterday's previously reported ruling in favor of Limelight, the high court declined to make it easier to hold companies liable for encouraging others to commit patent infringement, the Journal said. Reference Link
News For LLNW;AKAM;GOOG;FB;ORCL From The Last 14 Days
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October 16, 2014
17:29 EDTGOOGGoogle says Omid Kordestani now officially Chief Business Officer
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16:05 EDTGOOGGoogle reports Q3 Sites revenue $11.25B vs. $9.38B last year
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16:04 EDTGOOGGoogle shares drop 5% to $508.51 after Q3 misses estimates
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16:03 EDTGOOGGoogle reports Q3 average cost-per-click down 2% vs. last year
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16:02 EDTGOOGGoogle reports Q3 aggregate paid clicks up 17% vs. last year
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16:02 EDTGOOGGoogle reports Q3 EPS $6.35, consensus $6.53
Reports Q3 revenue $16.52B, consensus $16.57B.
15:26 EDTGOOGNotable companies reporting after market close
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14:42 EDTGOOGeBay appears done with same-day delivery 'experiment,' Re/Code says
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14:26 EDTGOOGGoogle technical comments ahead of earnings
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14:04 EDTGOOGGoogle seen testing high-speed wireless service, Reuters says
Telecommunications experts that have seen Google's regulatory filings are saying that the company may be preparing a wireless version of its high-speed "Fiber" Internet service, says Reuters. Reference Link
12:52 EDTLLNW, AKAMAkamai retreats after Wells cuts rating on traffic trends
Shares of Akamai (AKAM) are falling after Wells Fargo downgraded the stock to Market Perform from Outperform, saying its research indicates the company's traffic has been moderating in recent weeks. Akamai provides services for the delivery of content over the Internet. WHAT'S NEW: The amount of video and audio streaming being handled by Akamai has slowed during the first two weeks of October when compared with the third quarter, Wells Fargo wrote in a note to investors today. Although Akamai's revenue growth does not correlate directly with changes in the traffic it handles, traffic trends have provided indications about the direction of the company's revenue growth in the past, the firm stated. Additionally, Akamai is facing tough comparisons this quarter, and its international business will be hurt by the strong dollar, the firm contended. Wells predicted the company's 2014 and 2015 earnings would miss expectations and cut its price target range on the name to $57-$61 from $70-$75. OTHERS TO WATCH: Limelight Networks (LLNW) and Level 3 Communications (LVLT) also provide Internet content delivery services. PRICE ACTION: In early afternoon trading, Akamai fell 3% to $53.
12:49 EDTGOOGEarnings Preview: Google shares down 8% since last earnings report
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10:06 EDTGOOGThe Federal Trade Commission (FTC) to hold a conference
7th Annual Federal Trade Commision Microeconomics Conference is being held in Washington, D.C. on October 16-17.
10:01 EDTAKAMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Akamai (AKAM) downgraded to Market Perform from Outperform at Wells Fargo... CGG SA (CGG) downgraded to Reduce from Neutral at Nomura... Central Valley Community (CVCY) downgraded to Hold from Buy at Sandler O'Neill... DSM (RDSMY) downgraded to Neutral from Buy at Nomura... Disney (DIS) downgraded at Guggenheim... Francesca's (FRAN) downgraded to Underperform from Outperform at Macquarie... Netflix (NFLX) downgraded to Fair Value from Buy at CRT Capital... Nordstrom (JWN) downgraded to Neutral from Outperform at Macquarie... Norfolk Southern (NSC) downgraded at Credit Suisse... Rio Tinto (RIO) downgraded to Market Perform at Cowen... Seadrill (SDRL) downgraded to Reduce from Neutral at Nomura... Ternium (TX) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Neutral from Outperform at Macquarie... Viacom (VIAB) downgraded at BofA/Merrill... eBay (EBAY) downgraded to Underperform from Buy at CLSA... lululemon (LULU) downgraded to Underperform from Neutral at Macquarie.
09:39 EDTFBActive equity options trading on open
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08:24 EDTGOOGSchneiderman, Gascon applaud Google for 'kill switch' incorporation
Attorney General Eric Schneiderman and San Francisco District Attorney George Gascon issued the following statement on the release of Google’s new version of Android software, which will incorporate theft deterrent technology for the first time. Both Schneiderman and Gascon said, “We applaud Google for including a ‘kill switch’ solution in its new version of Android. The majority of smartphone owners now have access to an theft-deterrent solution. Through the work of the Secure Our Smartphones Initiative in concert with the smartphone industry, we are well on our way to safeguarding our loved ones from opportunistic thieves. But in order for these theft deterrents to effectively end the epidemic, they must be enabled by default so violent criminals lack the incentive to steal any smartphone. We will continue to encourage every actor in the smartphone industry, including Google, to take the necessary, additional step of ensuring this technology is opt-out on all devices.” Reference Link
08:06 EDTGOOGAlmunia says political pressure around Google case 'unprecented,' WSJ reports
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06:14 EDTGOOGGoogle Fiber coming to Austin, TX in December, GigaOM reports
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06:00 EDTGOOGMicrosoft says working with YouTube to reinstate content inadvertently removed
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05:29 EDTAKAMAkamai downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Akamai to Market Perform citing a slowdown in the company's video and audio streaming traffic during the first two weeks of October. The firm believes 2015 revenue estimates are too high and lowered its price target range for shares to $57-$61 from $70-$75.
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