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News Breaks
March 28, 2012
06:15 EDTGS, AMR, DAL, LUV, RIG, HA, ALK, LCC, FB, UAL, JBLU, SKYWOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: The FBI's top cyber cop offered a grim view of the nation's efforts to keep computer hackers from plundering corporate data networks: "We're not winning," said Shawn Henry, the Wall Street Journal reports...Goldman Sachs Group (GS) agreed to change its board structure in order to persuade a union pension fund to drop a shareholder proposal that could have cost CEO Blankfein his job as chairman, the Wall Street Journal reports...The Airlines for America trade group representing the largest U.S. carriers called on the Obama administration to take action against the EU in a bid to end the bloc's carbon trading market, the Wall Street Journal reports...REUTERS: Facebook (FB) CEO Zuckerberg wants about $5B from Wall Street investors, but they won't see much of him, and it could become an issue because of the control he exerts over Facebook via special shares, Reuters reports...BLOOMBERG: Transcoean (RIG), the world’s biggest owner of offshore rigs, stands to benefit the most this year from a surge in demand as rental rates for ultra-deep-water rigs should climb 28% to a record $714,000, Bloomberg reports.
News For LUV;SKYW;LCC;DAL;JBLU;ALK;AMR;UAL;HA;GS;FB;RIG From The Last 14 Days
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July 20, 2015
13:03 EDTGSFed proposes final rule on capital surcharges for largest U.S. banks
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12:40 EDTFBEarnings Watch: IBM up 4% since last quarterly report
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12:35 EDTFBFacebook July weekly volatility increasing into Q2 and outlook
Facebook 7/31/15 weekly call option implied volatility is at 53, August is at 38, September is at 33; compared to its 52-week range of 19 to 48, suggesting large near term price movement into the expected release of Q2 results on July 29.
11:29 EDTFBFacebook breakout accelerates, levels to watch
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08:56 EDTFBFacebook price target raised to $117 at BTIG on video opportunity
BTIG analyst Richard Greenfield believes Facebook can exceed consensus estimates, citing higher confidence in the company's video advertising opportunity. Greenfield, who raised his revenue estimates for Facebook in this year and next, also points out Instagram's monetization opportunity and the platform potential of WhatsApp and Messenger. The analyst raised his price target on Facebook to $117 from a "stale" target of $80 that had been set in July of last year and reiterates a Buy rating on the social network's stock, which closed at $94.97 on Friday.
July 19, 2015
19:12 EDTGSFederal Reserve proposes changes to 'stress test' regulations
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July 17, 2015
16:41 EDTGSStocks end week higher as Google, Greece bring out the buyers
Stocks ended the week higher and the major averages are back at record highs after Iran agreed to a nuclear deal, Greece's parliament paved the way for the country to receive another bailout by agreeing to new austerity measures and Google (GOOG) gave investors hope that earnings from tech's other heavyweights will be similarly better than expected. MACRO NEWS: In the U.S., retail sales unexpectedly fell 0.3% in June, versus the consensus forecast for growth of 0.3%. The producer prices index showed prices rose 0.4% in June, versus expectations for an increase of 0.2%. The consumer price index rose a seasonally adjusted 0.3% in June from a month earlier, matching the consensus forecast. Compared with last year, consumer prices rose 0.1%, marking the first annual increase since December. Housing starts rose 9.8% to a 1.17M rate in June and building permits rose 7.4% to a 1.34M pace, both of which topped expectations. The NAHB homebuilder sentiment index for July came in at 60, a point better than forecast. The University of Michigan's consumer sentiment reading dropped to 93.3 in the preliminary July figure, which was below the 96.0 reading that was expected. During testimony before Congress, Federal Reserve Chair Janet Yellen stayed on message, stating that the central bank is on track to raise record-low interest rates this year, so long as the labor market and the economy keep improving... In China, exports rose 2.1% from a year earlier during June and imports dropped 6.7%, leaving a trade surplus of $45.8B for the month, the nation's customs administration reported. The nation's GDP was reported to have grown 7% in the second quarter from a year earlier, beating the consensus expectation for growth of 6.8%... In Europe, Greek lawmakers passed the country's austerity agreement and Euro-area finance ministers reportedly agreed in principle to extend a bridge loan to Greece. The loan should help keep Greece afloat while its Prime Minister negotiates the details of the country's latest bailout... Iran reached a deal on restrictions and inspections intended to prevent it from developing nuclear weapons in exchange for the lifting of economic sanctions by six world powers. The agreement still faces a political fight in the U.S. before taking effect, but President Barack Obama has vowed to veto any congressional effort to block its implementation. COMPANY NEWS: Class A shares of Google (GOOG, GOOGL) surged at the end of the week after the search giant reported better than expected revenues and earnings in the second quarter. Research firms all over Wall Street raised their price targets on the stock in the wake of the report... Netflix (NFLX) rallied to a split-adjusted all-time high after the streaming service operator reported stronger than expected second quarter results, including higher than expected Q2 subscriber metrics, prompting a large number of research firms to raise their price targets on the stock... Many of the nation's largest banks reported on their results in the second quarter this week. JPMorgan (JPM), Bank of America (BAC) and Citigroup (C) all posted quarterly profits, excluding certain items, that beat the average estimates of analysts. Wells Fargo (WFC) reported earnings in-line with consensus estimates and revenue somewhat below expectations, while Goldman Sachs (GS) reported headline earnings that appeared to fall far short of the consensus forecast. However, that was due to Goldman's nearly $1.5B in provisions for litigation and regulatory matters. Excluding those provisions, the bank's earnings were ahead of consensus... On the M&A front, Receptos (RCPT) advanced after Celgene (CELG) announced a deal to buy the smaller drugmaker for $232 per share in cash, or a total of about $7.2B net of cash acquired. A number of research firms applauded the deal, especially noting the price Celgene agreed to pay, but cautioned that a rival bidder may still emerge for Receptos. Marathon Petroleum (MPC) gained after MPLX (MPLX), the company's fee-based master limited partnership, agreed to acquire MarkWest Energy (MWE) in a cash and stock deal that implies a total enterprise value for MarkWest of approximately $20B, including the assumption of debt of approximately $4.2B. Micron (MU) rose after The Wall Street Journal reported that China's state-owned Tsinghua Unigroup had offered to acquire the memory chip maker for $23B, or $21 per share... Shares of Twitter (TWTR) spiked Tuesday morning after a questionable takeover report was published on a website that mimicked, but had a different web address, than Bloomberg News. A Bloomberg spokesman said soon afterward that the Twitter takeover story being attributed to the news service was a fake, while a Twitter spokesperson also denied the report of an alleged deal... Macy's (M) jumped after Starboard CEO Jeffrey Smith called the stock his "best idea" for 2015, adding that the shares could be worth $125 each if the company takes steps to maximize the value of its real estate holdings. Amazon (AMZN) announced it sold more units on its first "Prime Day" than the biggest Black Friday ever and had more new members try its Prime service worldwide than any single day in company history. The e-commerce giant noted that its worldwide order growth increased 266% over the same day last year and 18% more than Black Friday 2014, adding that it will "definitely be" doing another Prime Day in the future. A number of semiconductor equipment stocks, including Applied Materials (AMAT) and Lam Research (LRCX), dropped after Intel (INTC) cut its capital expenditures guidance while reporting on its quarterly results. INDEXES: For the week, the Dow gained about 1.05% to close at 18,086.45, the Nasdaq advanced about 3.37% to close at 5,210.14, and the S&P 500 rose about 1.67% to close at 2,126.64.
16:01 EDTFBOptions Update; July 17, 2015
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14:00 EDTGSEarnings Watch: Morgan Stanley rounds out quarterly results for financial firms
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12:49 EDTUALUnited Continental sees FY domestic capacity flat to up 1%
On July 17, John Rainey, the EVP and CFO of United Continental Holdings appeared on CNBC for an interview. In response to a question regarding capacity, Rainey provided updated full-year domestic capacity guidance of flat to up 1%. This updated guidance includes actual ASMs for the first half of 2015, as previously disclosed in the press release issued by the company on July 9.
12:38 EDTFBOn The Fly: Top stock stories at midday
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11:34 EDTFBGoogle price targets hiked after 'thesis-changing' quarter
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10:57 EDTDALDelta Air Lines may face activist involvement, The Deal says
Dan Loeb's Third Point and David Tepper's Appaloosa Management have previously disclosed stakes in Delta and the company could attract activist attention while it faces union unrest and increase pressure from regulators, said TheDeal.com's Lou Whiteman.
10:09 EDTFBInstagram picks Eva Chen as head of fashion partnerships, Mashable reports
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10:01 EDTFBFacebook July volatility increasing into Q2 and outlook
Facebook 7/31/15 weekly call option implied volatility is at 41, August is at 31, September is at 28; compared to its 52-week range of 19 to 48, suggesting large near term price movement into the expected release of Q2 results on July 29.
09:35 EDTFBActive equity options trading on open
Active equity options trading on open: AAPL NFLX TSLA GOOG FB GOOGL SLB
09:35 EDTFBFacebook hits fresh life, levels to watch
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06:46 EDTFBJPMorgan puts $800 target on Google after 'thesis-changing' Q2
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06:25 EDTFBGoogle price target raised to $780 from $670 at Deutsche Bank
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05:49 EDTFBGoogle price target raised to $723 from $631 at Piper Jaffray
Piper Jaffray analyst Gene Munster raised his price target for Google shares to $723 saying the search giant's Q2 earnings report and corresponding commentary leave him more confident in the stock over the next two quarters. In addition to talking about a focus on costs, Google noted that mobile cost-per-clicks were up and continued to close the gap on desktop and also highlighted accelerating YouTube usage despite recent media coverage on Facebook (FB) Video, Munster tells investors this morning in a research note. He keeps an Overweight rating on Google. The stock is $62.95 to $642.80 in pre-market trading following last night's earnings report.
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