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Stock Market & Financial Investment News

News For LNKD;FB;ZNGA;GRPN From The Last 14 Days
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February 8, 2016
09:54 EDTFBFacebook's Free Basics service blocked by India regulators, BBC News says
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09:36 EDTFBActive equity options trading on open
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09:18 EDTLNKDLinkedIn sell-off overdone, says Argus
After LinkedIn's stock tumbled 43% on Friday following its weaker than expected guidance, Argus indicates that it thinks the miss was largely due to the company's decision to "terminate an unpromising product." Argus views the latter decision as positive, and thinks that the huge drop in the stock "seems perverse." It reiterates a Buy rating on the shares.
07:49 EDTLNKDLinkedIn attractive for long-term investors, says Stifel
After LinkedIn's stock tumbled over 43% Friday following its weaker than expected guidance, Stifel says that long-term investors can be rewarded by buying the stock today. After comparing LinkedIn's businesses to those of its peers, Stifel thinks the shares have a 12-month forward fair value of $180. The firm says the company has "a dominant, global franchise." It cut its price target on the name to $180 from $220 but keeps a Buy rating.
06:57 EDTLNKDLinkedIn closes ad network one year after starting it, AdAge reports
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06:22 EDTFBWall Street view of Yelp soured by higher costs, slowing user growth, WSJ says
Wall Street sentiment towards Yelp (YELP) has soured as the company struggles with rising costs and weakening user growth, Steven Russollilo of the Wall Street Journal's Ahead of the tape says. With the company poised to report Q4 results Monday, Yelp is closer to falling below its $15 IPO price for the first time, which seemed very unlikely a few years ago when its shares were trading above $100, the Journal says. The company has nearly tripled its employee count over the past three years, but generates a lower revenue per employee than multiple tech companies, including Facebook (FB) and Alphabet (GOOG), the report says. In addition, Yelp's niche market is becoming increasingly competitive, with companies like Google diverting traffic to its own listings, the report says. Reference Link
05:25 EDTFBStocks with implied volatility movement; CRM FB
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February 5, 2016
16:37 EDTLNKDStocks end week lower as tech melts down despite strong Alphabet report
Stocks ended the week lower, with the Nasdaq index the clear laggard, as a number of well-known tech stocks felt the brunt of the market pullback. The week was bookended by a strong report Monday night from Google parent Alphabet (GOOGL), which still ended the week lower despite its better than expected earnings, and weak guidance Thursday evening from social media name LinkedIn (LNKD), which was severely punished by investors and analysts alike in the wake of its outlook. MACRO NEWS: In the U.S., nonfarm payrolls rose 151,000 in January, versus expectations for an increase of 190,000. The unemployment rate fell to 4.9%, versus expectations for it to stay at 5.0%. Average hourly earnings climbed 0.5% month-over-month, versus the consensus forecast for them to rise 0.3%. The trade deficit widened 2.7% to $43.4B in December, as exports dipped 0.3% and imports rose 0.3%. Markit's manufacturing purchasing managers index for January dipped to 52.4 in the final January reading, down from the 52.7 flash reading and below the 52.6 reading that was expected. The Institute for Supply Management's manufacturing index for January came in at 48.2, below the 48.4 that analysts expected. Markit's services PMI came in at 53.2, versus the consensus 53.7 forecast. The Institute for Supply Management's non-manufacturing index came in at 53.5 for January, down from 55.3 in the previous month and below the 55.1 reading forecast by analysts. The Labor Department said that productivity fell at an annual rate of 3% in the fourth quarter, marking the biggest quarterly decline in nearly two years and worse than the expected decline of 2%. Labor costs rose 4.5% in the fourth quarter, versus expectations for an increase of 4.3%... In Asia, China's National Development and Reform Commission set its economic growth projection range for this year at 6.5%-7%, noting that attempts to curb overcapacity will increase unemployment in provinces with high output of steel and coal. The Chinese government's official manufacturing purchasing managers index fell to 49.4 in January from 49.7 in December. The private Caixin manufacturing PMI edged up to 48.4 from 48.2 in the prior reading, but both figures still remain in contraction territory. The Caixin services PMI for China climbed to 52.4 in January from 50.2 in December, while Japan's services PMI rose to 52.4 from 51.5 in the prior month... In Europe, Markit's manufacturing PMI for the euro zone dropped to 52.3 from December's 53.2, in-line with the earlier flash estimate. The European Commission lowered its 2016 economic growth forecast for the 19-nation single currency area to 1.7% from the 1.8% expansion the commission had forecast in November. The Bank of England also cut its economic growth forecasts, saying it now expects Britain's economy to grow 2.2% this year and 2.3% next year, which is down from the 2.5% growth for 2016 and 2.6% in 2017 that it previously predicted. Additionally, the BoE maintained its bank rate and held the size of its asset purchase program steady. COMPANY NEWS: After the closing bell Monday, Alphabet reported better than expected quarterly earnings and revenue, along with breaking the results of its core Google businesses out from its "Other Bets" for the first time. The report was followed by analysts around Wall Street hiking their price targets on the stock, with Deutsche Bank notably raising its target to $1,080 per share, but the company's Class A shares only gained a bit more than 1% on Tuesday and finished the week down by nearly 8%... Shares of Yahoo (YHOO) declined nearly 5% on Wednesday after the embattled Internet company reported fourth quarter results and announced plans to simplify its product portfolio and reduce its workforce by roughly 15%. Maynard Webb, Yahoo's chairman, said the board is committed to its turnaround efforts and supportive of management's plan, but also believes that exploring additional strategic alternatives is in the best interest of its shareholders, but the assurance that the company will listen to offers from potential suitors did little to help its stock performance this week... GoPro (GPRO) shares sunk to all-time lows on Thursday after the action camera maker reported fourth quarter revenue that fell $60M short of expectations and guided first quarter revenue even further below analyst forecasts... LinkedIn (LNKD) plunged over 40% on Friday after the professional network reported stronger than expected fourth quarter results, but its 2016 guidance came in significantly below expectations. At least nine Wall Street research firms responded to the guidance miss by downgrading the stock. "Big Data" software provider Tableau (DATA) similarly issued full-year guidance significantly below expectations and also fell sharply, tumbling nearly 50%... In addition to tech companies, it was a big week for earnings reports from names in the oil space. Exxon Mobil (XOM) posted better than expected revenue and profits in the fourth quarter, but its shares slid 2% on Tuesday after the report. Fellow oil major BP (BP) plunged more than 8% the same day after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring. ConocoPhillips (COP) declined nearly 9% on Thursday after the oil and gas explorer reported a worse than expected quarterly loss and slashed its dividend to 25c from 74c per share. CEO Ryan Lance said the decision to reduce the dividend was a "difficult one," but the company believes it is prudent to plan for lower commodity prices for a longer period of time... Among the many others reporting earnings this week, Dow Chemical (DOW), Comcast (CMCSA), Michael Kors (KORS), Mattel (MAT), Sysco (SYY), and Aetna (AET) gained immediately following their reports, while Chipotle Mexican Grill (CMG), General Motors (GM), Mondelez (MDLZ), Match Group (MTCH), Cardinal Health (CAH), ADT (ADT), Royal Caribbean (RCL), Ralph Lauren (RL) and Kohl's (KSS) all slid following their own... On the M&A front, Syngenta (SYT) agreed to a $43B-plus takeover offer from ChemChina. Alere (ALR) surged after Abbott (ABT) agreed to acquire the company for $56 per share at a total expected equity value of $5.8B. Questar (STR) jumped on Monday as well after Dominion Resources (D) agreed to acquire it for $25 per share, or about $4.4B. Lowe's (LOW) fell 6% on Wednesday after agreeing to acquire Canada's RONA in a deal valued at $2.3B... Sumner Redstone stepped down as executive chairman of both CBS (CBS) and Viacom (VIA, VIAB), being replaced by the CEOs of the companies in both cases. CBS shares were up fractionally Thursday after Leslie Moonves was named the next chair of its board, while Class A shares of Viacom gained 2% after Philippe Dauman was selected to succeed Redstone... Like Chipotle has been in the past months, Buffalo Wild Wings (BWLD) shares were punished by food safety worries after one of its restaurants was named a suspected source of new norovirus-like cases in suburban Kansas City, though the company disputed a link between its location and the illnesses. Late in the week, the Department of Health of Johnson County, Kansas, confirmed one case of norovirus associated with an area Buffalo Wild Wings location, according to Bloomberg. INDEXES: For the week, the Dow fell 1.6% to 16,204.83, the Nasdaq lost 5.4% to 4,363.14, and the S&P 500 declined 3.1% to 1,880.02.
16:12 EDTLNKDOn The Fly: Top stock stories for Friday
Stocks began the session in negative territory and remained there throughout the day. The monthly jobs report showed job growth had slowed more that expected in January, along with indicating higher than expected wage inflation due to the minimum wage increases around the country. Also weighing on the market were the worse than expected forecasts from some companies with previously high-flying stocks, including professional social network operator LinkedIn (LNKD). The Nasdaq was the biggest decliner losing more than 3% of its value, though the S&P and Dow also finished with significant losses. ECONOMIC EVENTS: In the U.S., nonfarm payrolls rose 151,000 in January, versus expectations for an increase of 190,000. The unemployment rate fell to 4.9%, versus expectations for it to stay at 5.0%. Average hourly earnings climbed 0.5% month-over-month, versus the consensus forecast for them to rise 0.3%. The trade deficit widened 2.7% to $43.4B in December, as exports dipped 0.3% and imports rose 0.3%. Consumer credit surged $21.3B in December, topping the $16B increase that was expected. COMPANY NEWS: LinkedIn plunged 43.68% to $108.49 after the professional network reported stronger than expected fourth quarter results, but its 2016 guidance came in significantly below expectations. At least nine Wall Street research firms responded to the guidance miss by downgrading the stock. "Big Data" software provider Tableau (DATA) similarly issued full-year guidance significantly below expectations and also fell sharply, tumbling 49.57% to $41.27. A number of companies that sell software to businesses fell in the wake of their reports, including Splunk (SPLK), Qlik Technologies (QLIK), NetSuite (N), Salesforce (CRM) and Workday (WDAY). MAJOR MOVERS: Among the notable gainers following their earnings reports were packaged foods maker Post Holdings (POST), which gained 11.14% to $63.83, and meat producer Tyson Foods (TSN), which advanced Among the noteworthy losers was Lionsgate (LGF), falling 27% to $18.57 after its third quarter revenue and earnings declined, which the company attributed to the performance of its theatrical film slate. Lionsgate's post-earnings pullback also weighed on Starz (STRZA), which fell 22.2%. Bloomberg reported earlier in the week, citing sources, that Lionsgate had restarted talks to possibly acquire Starz. Also lower following their earnings reports were shares of Redbox parent Outerwall (OUTR), which fell 17.28%, and Hanesbrands (HBI), which slid 15.1%. INDEXES: The Dow fell 211.75, or 1.29%, to 16,204.83, the Nasdaq lost 146.42, or 3.25%, to 4,363.14, and the S&P 500 declined 35.43, or 1.85%, to 1,880.02.
15:59 EDTLNKD, FBOptions Update; February 5, 2016
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12:36 EDTLNKDLinkedIn downgraded to Market Perform from Strong Buy at Raymond James
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12:12 EDTLNKDOn The Fly: Top stock stories at midday
Stocks began the day lower and have seen little in the way of buying since the open. As the market digested the monthly jobs data and watched the price of oil turn negative, the selling that had taken a two day break was renewed. The Nasdaq is the biggest loser, falling over 2%, while the Dow is down about 1%. ECONOMIC EVENTS: In the U.S., nonfarm payrolls rose 151,000 in January, versus expectations for an increase of 190,000. The unemployment rate fell to 4.9%, versus expectations for it to stay at 5.0%. Average hourly earnings climbed 0.5% month-over-month, versus the consensus forecast for them to rise 0.3%. The trade deficit widened 2.7% to $43.4B in December, as exports dipped 0.3% and imports rose 0.3%. A report on Consumer Credit growth in December is due out at 3 pm ET. COMPANY NEWS: The shares of LinkedIn (LNKD) plunged 40% after the professional network reported stronger than expected fourth quarter results, but its 2016 guidance came in significantly below expectations. At least nine Wall Street research firms responded to the guidance miss by downgrading the stock... Also tumbling in the wake of its quarterly report was "Big Data" software provider Tableau (DATA), which fell 47% after its full-year guidance came in significantly below expectations. Tableau blamed its guidance miss on weaker IT spending trends, as well as competition, and a number of other companies that sell software to businesses also fell following its report, including peer Splunk (SPLK), NetSuite (N), Salesforce (CRM) and Workday (WDAY). MAJOR MOVERS: Among the notable gainers was Cempra (CEMP), which gained about 5% after it said that its solithromycin drug met primary and secondary objectives in its Phase 3 study. Also higher were Tyson Foods (TSN) and Post Holdings (POST), which gained 10% and 11.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Vertex (VRTX), which fell 5% after the FDA said that it cannot currently approve a label expansion for Kalydeco in children with residual function mutations. Also lower were Lion's Gate (LGF), YRC Worldwide (YRCW), and Redbox-parent Outerwall (OUTR), which were down 33%, 30%, and 17%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 171.21, or 1.04%, to 16,245.37, the Nasdaq was down 110.39, or 2.45%, to 4,399.17, and the S&P 500 was down 27.10, or 1.41%, to 1,888.35.
11:23 EDTLNKDOptions with increasing put volume
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11:14 EDTLNKDOptions with increasing call volume
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10:52 EDTFBStocks with call strike movement; YHOO FB
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10:52 EDTLNKDAnalysts, investors jump ship on LinkedIn after slowdown signaled
The shares of LinkedIn (LNKD) are plunging after the professional network reported stronger than expected fourth quarter results, but its 2016 guidance came in significantly below expectations. At least nine Wall Street research firms responded to the guidance miss by downgrading the stock. In contrast, Piper Jaffray remained upbeat on the company's longer term outlook and kept an Overweight rating on the shares. RESULTS: LinkedIn reported Q4 earnings per share of 94c, versus the consensus estimate of 78c. The company's revenue came in slightly above expectations. However, LinkeIn provided fiscal 2016 EPS guidance of $3.05-$3.20, versus the consensus outlook of $3.67, and its full-year revenue guidance came in at $3.6B-$3.65B, versus the consensus outlook of of $3.9B. LinkedIn expects the annual revenue growth of its product for field sales professionals to drop to about 25% this year from 30% last year. The company blamed the expected deceleration on macro economic pressures in Europe and Asia. Other factors behind the guidance miss included the upcoming phase out of LinkedIn's Lead Accelerator product this year and negative currency fluctuations, LinkedIn stated. RAFT OF DOWNGRADES: RBC Capital analyst Mark Mahaney downgraded LinkedIn to Sector Perform from Outperform, stating that the company's guidance miss warrants such a move, as the growth of its flagship Talent Solutions products are slowing due to market saturation. Additionally, the growth of the company's Sales Navigator product is coming in below expectations, said Mahaney, who slashed his price target on the name to $156 from $300. Although LinkedIn usually provides conservative guidance, the company appears to be resigned to increasing the amount of money and time it will invest in certain products, wrote SunTrust analyst Robert Peck, who downgraded the stock to Neutral from Buy. Like Mahaney, Peck was disappointed by the performance of the company's Talent Solutions and Sales Navigator products. He also had been upbeat on the company's B2B marketing platform, Bizo, which the company now intends to shut down. Peck cut his price target on the name to $155 from $250. LinkedIn's comments about its hiring solutions products indicate that the unit's revenue will increase 21% this year, down from 32% last year, wrote Cowen analyst John Blackledge, who downgraded the stock to Market Perform from Outperform. The company's overall revenue looks poised to drop by a large amount in 2016, added the analyst, who cut his price target on the name to $140 from $272. MUNSTER DEFENSE: Defending the stock was well-known Piper Jaffray analyst Gene Munster. LinkedIn's longer term outlook remains positive, and it may benefit from its efforts in professional education and with Sales Navigator, the analyst stated. Meanwhile, the company's Talent Solutions unit should continue gaining share, he added. Munster warned that the stock could be range-bound until the company reports its Q1 results, and he cut his price target on the name to $175 from $240. However, the analyst kept an Overweight rating on the shares. PRICE ACTION: In morning trading, LinkedIn tumbled 39% to $117.08. Earlier in the session the stock hit a 52-week low of $110.01.
10:13 EDTLNKDHigh option volume stocks
High option volume stocks: SC YRCW MKTO MT LNKD EPAM SBGL ALLY QLIK
10:02 EDTLNKDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Ashford Hospitality Prime (AHP) downgraded to Neutral from Buy at SunTrust... Cascade Microtech (CSCD) downgraded to Hold from Buy at Craig-Hallum... Cinemark (CNK) downgraded to Neutral from Outperform at Credit Suisse... ConocoPhillips (COP) downgraded to Sector Perform from Outperform at Scotia Howard Weil... Credit Suisse (CS) downgraded to Equal Weight from Overweight at Morgan Stanley... Cree (CREE) downgraded to Neutral from Overweight at JPMorgan... Deckers Outdoor (DECK) downgraded to Neutral from Buy at BofA/Merrill... Esterline (ESL) downgraded to Hold from Buy at Canaccord... GrubHub (GRUB) downgraded to Perform from Outperform at Oppenheimer... Kohl's (KSS) downgraded to Underweight from Neutral at Atlantic Equities... LINN Energy (LINE) downgraded to Sell from Hold at Stifel... LinkedIn (LNKD) downgraded to Sector Perform from Outperform at RBC Capital... LinnCo (LNCO) downgraded to Sell from Hold at Stifel... Magellan Midstream (MMP) downgraded to Neutral from Outperform at Credit Suisse... Marathon Petroleum (MPC) downgraded to Neutral from Overweight at JPMorgan... Multi-Fineline (MFLX) downgraded to Hold from Buy at Needham... NIC Inc. (EGOV) downgraded to Market Perform from Outperform at Avondale... Outerwall (OUTR) downgraded to Neutral from Overweight at Piper Jaffray... PPL Corp. (PPL) downgraded to Hold from Buy at Deutsche Bank... PennyMac Mortgage (PMT) downgraded to Equal Weight from Overweight at Barclays... Pixelworks (PXLW) downgraded to Hold from Buy at Lake Street... Qorvo (QRVO) downgraded to Sell from Neutral at Citi... Ralph Lauren (RL) downgraded to Underperform from Neutral at BofA/Merrill... TrueBlue (TBI) downgraded on macro concerns at BMO Capital... WEC Energy (WEC) downgraded to Hold from Buy at Deutsche Bank.
09:57 EDTLNKDLinkedIn volatility stays elevated on wide price movement
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09:52 EDTLNKDLinkedIn downside accelerates on very heavy volume
Shares are now down 41% to $113.80 on very heavy volume. Next support is at $105.04. Resistance is at $120.73.
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