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Stock Market & Financial Investment News

News Breaks
August 13, 2014
16:19 EDTRHHBY, ITMN, EBAY, GSK, KING, AMZN, CSIQ, SNY, SEAS, MOn The Fly: Closing Wrap
Stocks on Wall Street began the day in positive territory despite weaker than expected retail sales figures for July. Oil hit a new 13 month low during the session, suggesting to investors that concerns about the flow of oil from the Middle East are muted despite the turmoil in Iraq and Israel. The market found its level about an hour and a half into trading and the averages moved in a narrow range for the remainder of the session, but the Nasdaq's drift higher managed to add 1% to the index by the time trading closed. ECONOMIC EVENTS: In the U.S., retail sales were flat in July, versus an expected 0.2% increase. If auto and gasoline data is removed, the core reading showed an increase of 0.1%, versus the expected 0.4% rise. Business inventories grew 0.4% in June, which was in-line with expectations. In Asia, a measure of new credit in China came in at $44.3B in July, marking its lowest monthly total since October 2008. China's industrial production grew 9.0% year-over-year in the month, versus expectations for 9.2% growth. Japan's second quarter GDP fell an annualized 6.8%, which was slightly better than the expectation for a 7% decline. COMPANY NEWS: Macy's (M) declined $3.29, or 5.51%, to $56.47 after the department store operator's second quarter sales and profits missed expectations. Macy's also lowered its fiscal year same-store sales growth forecast to 1.5%-2% from its previous 2.5%-3% view, but said it still expects FY14 earnings per share of $4.40-$4.50... Amazon.com (AMZN) advanced $6.96, or 2.18%, to $326.28 after the company launched "Amazon Local Register," a credit-card device and mobile app to help small business owners accept payments that will go head-to-head with competing systems from Square and eBay's (EBAY) PayPal unit. Additionally, research firm ChannelAdvisor reported that Amazon's July same-store-sales grew 40.4%, an increase compared to June's 34.4% growth rate. Meanwhile, the firm estimated eBay's July same-store-sales grew 9.7%, which was down from June’s 12.3% rate and below the e-commerce growth rate, and its shares slipped 49c, or 0.92%, to $52.94. MAJOR MOVERS: Among the notable gainers was Canadian Solar (CSIQ), which rose $6.06, or 24.27%, to $30.13 after the company reported better than expected second quarter results. Also higher was InterMune (ITMN), which jumped $6.57, or 14.44%, to $52.06 after Bloomberg said the company is working with its financial advisers to evaluate takeover bids it has received from Sanofi (SNY), Roche (RHHBY), GlaxoSmithKline (GSK) and Actelion (ALIOF). Among the noteworthy losers was theme park operator SeaWorld (SEAS), which dove $9.25, or 32.86%, to $18.90 after negative media attention contributed to lower than expected second quarter attendance and drove its earnings per share and revenue to miss expectations. Also lower were shares of social video game maker King Digital (KING), which was downgraded by at least five Street research firms and dropped $4.21, or 23.13%, to $13.99 after its quarterly revenue missed expectations and the company lowered its outlook for its fiscal 2014 growth rates. INDEXES: The Dow rose 91.26, or 0.55%, to 16,651.80, the Nasdaq gained 44.88, or 1.02%, to 4,434.13, and the S&P 500 added 12.97, or 0.67%, to 1,946.72.
News For M;AMZN;EBAY;SEAS;KING;ITMN;SNY;GSK;RHHBY;CSIQ From The Last 14 Days
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July 22, 2015
09:04 EDTEBAYeBay downgraded to Market Perform following spin-out of PayPal at Raymond James
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09:01 EDTAMZNAmazon.com upgraded on positive outlook at JMP Securities
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08:38 EDTMNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
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07:51 EDTAMZNAlibaba cloud services president says can catch AWS in 3-4 years, Bloomberg says
Speaking at an event about Alibaba Group's (BABA) accelerated investment in its data centers, the president of the company's Aliyun cloud services arm, Simon Hu said, "It took Amazon (AMZN) 10 years to get where it is today. It took us six years, and we hope to match or even surpass Amazon in three to four years,” according to Bloomberg. Reference Link
07:12 EDTEBAYeBay downgraded to Market Perform from Outperform at Raymond James
06:54 EDTAMZNJMP Securities says Amazon shifting to 'execution mode,' ups to Outperform
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06:35 EDTAMZNAmazon.com upgraded to Outperform from Market Perform at JMP Securities
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06:12 EDTAMZNAmazon.com's Home Services expands to many cities throughout U.S.
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06:08 EDTAMZNSony to create drone company to offer services for business customers, WSJ says
Sony (SNE) plans to create a drone company to offer services like inspecting aged infrastructure and surveying land that is difficult to access, The Wall Street Journal reports. The drone company, Aerosense, will be created in a joint venture with ZMP Inc, a Tokyo startup which specializes in autopilot technology. Amazon (AMZN) and Google (GOOG) are currently researching the use of drones for package delivery, the report notes. Reference Link
05:27 EDTAMZNStocks with implied volatility above IV index mean; XOMA AMZN
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July 21, 2015
12:47 EDTSNYPiper confident in Regeneron approval by Friday
After Amgen's (AMGN) Repatha received marketing authorization in Europe, making it the first of the anti-PCSK9 antibody to be approved worldwide, Piper Jaffray analyst Edward Tenthoff expressed confidence that Regeneron (REGN) and Sanofi's (SNY) anti-PCSK9 antibody Praluent will be approved by Friday's FDA action date. Tenthoff believes Praluent will eventually be a blockbuster drug, but anticipates the launch to be slow. He keeps a Neutral rating on Regeneron with a $484 price target.
11:12 EDTEBAYeBay downgraded to Neutral from Buy at Tigress Financial
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11:02 EDTEBAYPayPal volatility at 37 following split from eBay
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10:01 EDTEBAYOn The Fly: Analyst Downgrade Summary
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07:45 EDTAMZN, EBAYSell PayPal amid mounting payments competition, Piper says
Shares of PayPal (PYPL) advanced over 5% yesterday in the stock's first day of trading following a split from eBay (EBAY), with the majority of research firms issuing optimistic notes on its prospects. This morning, however, analyst Gene Munster of Piper Jaffray recommends selling the share as competition grows in the digital payments space. BEARS: Munster started shares of PayPal with an Underweight rating, the firm's equivalent of a "Sell," saying increased competition could pressure the stock's multiple over the next 6-24 months. Google's (GOOG) Android Pay and Apple's (AAPL) Apple Pay will give consumers a "real alternative to PayPal" for the first time, Munster tells investors in his research note. In addition, interest in payments from Amazon.com (AMZN) and Facebook (FB) bring potential for more digital wallet offerings, the analyst notes. Munster set a $30 price target for PayPal. Of note, Evercore ISI also started coverage of PayPal shares yesterday with a Sell rating. BULLS: Wells Fargo initiated coverage of PayPal yesterday with an Outperform rating, saying the company's unique assets will enable it to maintain its leadership role in digital payments and benefit from the growth of e-commerce. Also upbeat was Robert W. Baird analyst Colin Sebastian, who contends that PayPal has the top pure play online payment system and is continuing to grow its share of the Internet payment market. PayPal should be able to innovate more effectively after its spin-off, added the analyst, who set a $45 price target on the shares. PRICE ACTION: Shares of PayPal are pointing toward further gains in their second day of standalone trading, with the stock up about 2.7% to $41.55 in pre-market trading.
07:30 EDTEBAYeBay downgraded on valuation at Stifel
As noted earlier, Stifel downgraded eBay to Hold from Buy. The firm downgraded the stock on valuation.
07:16 EDTCSIQCanadian Solar announces construction, financing loan from Manulife
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07:05 EDTRHHBYOphthotech names Shima as Chief Scientific Officer, Bjarke as CCO
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06:19 EDTEBAYSilicon Valley giants side with Samsung in battle with Apple, InsideSources says
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05:34 EDTAMZNPayPal initiated with an Underweight at Piper Jaffray
Piper Jaffray analyst Gene Munster started shares of PayPal (PYPL) with an Underweight rating saying increased competition could pressure the stock's multiple over the next 6-24 months. Underweight is Piper's equivalent of a sell rating. Google's (GOOG) Android Pay and Apple's (AAPL) Apple Pay will give consumers a "real alternative to PayPal" for the first time, Munster tells investors in a research note. In addition, interest in payments from Amazon.com (AMZN) and Facebook (FB) bring potential for more digital wallet offerings, the analyst notes. Munster set a $30 price target for PayPal, which began trading yesterday following a spinoff from parent company eBay (EBAY). Shares of the online payment system closed Monday up $2.08 to $40.47.
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