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June 17, 2014
12:23 EDTACOR, TSLA, EW, COV, SCTY, ORCL, MDT, NFLX, MCRSOn The Fly: Midday Wrap
Stocks on Wall Street were slightly higher at midday after spending the morning fluctuating between narrow losses and marginal gains. The averages are drifting back and forth across the flat line as investors await the conclusion of the Fed's latest rate setting meeting, which kicked off today. ECONOMIC EVENTS: In the U.S., the consumer price index rose 0.4% in May, which was above the consensus forecast for an increase of 0.2%. Housing starts in the month declined 6.5% to a rate of about 1M and building permits slid 6.4% to a rate of 991K, which were both lower than expected. The Federal Reserve began its FOMC meeting, which will conclude tomorrow. COMPANY NEWS: Shares of register system and hospitality software maker Micros Systems (MCRS) surged 18% higher following a report from Bloomberg that the company is in talks to be acquired by tech giant Oracle (ORCL) for "more than" $5B... Shares of Edwards Lifesciences (EW) advanced nearly 5% after the company announced last night that it has received FDA approval for its SAPIEN XT transcatheter aortic heart valve for the treatment of certain high-risk and inoperable cardiovascular patients. Wells Fargo thinks the broad label and range of sizes approved by the FDA are a positive development for the company, while analysts at Canaccord noted that they view Edwards as an attractive acquisition candidate. Yesterday, CRT Capital said that it believes Medtronic's (MDT) acquisition of Covidien (COV) may signal an increase in sector M&A. MAJOR MOVERS: Among the notable gainers was SolarCity (SCTY), which jumped more than 15% after the solar energy system installer agreed to acquire solar panel technology and manufacturing company Silevo for up to $350M dollars. Also rising were shares of another company where Elon Musk is Chairman of the Board, Tesla Motors (TSLA), which rose over 3.5% after New Jersey's assembly approved a bill allowing the company to sell its cars directly in the state and New York Governor Andrew Cuomo signed a direct sales law in the neighboring state. Also higher was Netflix (NFLX), which rose 3% after Morgan Stanley upgraded the stock and research firm Pacific Crest issued a positive take on the shares in separate notes to investors earlier today. Among the noteworthy losers was executive recruiter Korn/Ferry (KFY), which dropped 3.5% after reporting on results during its just completed quarter and giving guidance for its current quarter. Also lower was Acorda Therapeutics (ACOR), which fell 5.5% after announcing an offering of $300M of convertible senior notes. INDEXES: Near midday, the Dow was up 9.46, or 0.06%, to 16,790.47, the Nasdaq was up 17.36, or 0.4%, to 4,338.46, and the S&P 500 was up 2.28, or 0.12%, to 1,940.06.
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September 30, 2015
09:59 EDTNFLX, TSLAActive equity options trading on open
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09:35 EDTNFLX, TSLAActive equity options trading on open
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09:09 EDTTSLAChina enacts special license lottery for new energy vehicles, Xinhua reports
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09:05 EDTMDTMedtronic announces FDA approval of expanded use of Verify Evaluation System
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06:58 EDTORCLOracle to furlough workers during holiday week, BI reports
Oracle has decided to close down during the holiday week between Christmas and New Year's, mandating that its employees pay for this furlough with paid vacation time, Business Insider reports, citing several sources. Some Oracle employees have been angered about this move that basically removes four days of paid time off from them, the report says. Reference Link
06:35 EDTTSLATesla delivers first Model X Electric SUVs, WSJ reports
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September 29, 2015
16:00 EDTTSLA, NFLXOptions Update; September 29, 2015
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15:37 EDTTSLATesla October weekly 245 straddle priced for 5% movement Model X SUV's launch
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15:19 EDTNFLXDiscovery drops as investor day fails to dispell cord-cutting fears
Shares of Discovery Communications (DISCA) have dropped today as the company held its first-ever investor day amid ongoing concerns about the potential decline of pay TV. NEW GUIDANCE: Discovery Chief Financial Officer Andrew Warren updated the company's full year 2015 outlook, saying he expects constant currency adjusted earnings per share to grow in the low double digits. The company expects revenue for the year to grow 9%-10%, with free cash flow up in low single digits. Meanwhile, year over year currency headwinds were seen deducting $460M from revenue and 24c-29c from adjusted EPS. Discovery also established long-term guidance, saying it sees its adjusted EPS compound annual growth rate up in low double digits from 2015 to 2018, on a constant currency basis. "Third quarter results are on track, highlighted by strong U.S. advertising growth," Warren added. THREE BILLION SUBSCRIBERS: CEO David Zaslav commented during the investor day that the company is "confident in the long-term outlook for our business," adding that Discovery expects to reach 3B cumulative worldwide subscribers by year's end. The Chief Executive highlighted what he called five differentiators for Discovery's growth potential, including its ownership of a growing and diverse portfolio of content and IP "that uniquely positions Discovery for the changing media landscape." CORD CUTTING: Multiple Discovery executives showcased the company's European products, including Eurosport and the Eurosport Player OTT service, as well as the company's apparent first-mover advantage in Latin America. The seemingly increased attention on foreign initiatives comes as U.S. cord-cutting trends continue generating headlines, with Citi analyst Jason Bazinet arguing as recently as September 18 that Disney (DIS) would be the only cable network to make more money in a bundle-free world. According to media reports of today's Discovery event, Chief Executive Zaslav said "it's not rational" that media companies are selling so much of their content to streaming services like Netflix (NFLX) that threaten the appeal of cable bundles. The CEO added that Discovery has assumed a 1%-2% decline in pay TV over "the next couple of years," though he reassured investor day attendees that the company's adjusted operating income should be roughly flat even in a worst-case scenario. PRICE ACTION: Shares of Discovery crashed as much as 7% in early morning trading before seeing hesitant moves higher. The stock is down just under 4% to roughly $26.70 heading towards session close.
15:09 EDTNFLXNetflix may test recent support
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13:55 EDTTSLATesla CEO: Cars to break 620 miles on single charge by 2017, TechCrunch says
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11:30 EDTTSLATesla owner group questions P85D horsepower claim, Digital Trends says
Tesla claims its Model S P85D generates 691 horsepower, though a group of 71 owners and investors have stated in an open letter to Tesla CEO Elon Musk that the highest figure they've been able to obtain in testing is 557 horsepower, according to Digital Trends. Reference Link
11:26 EDTTSLAStocks with call strike movement; MU TSLA
Micron (MU) January 17 call option implied volatility decreased 3% to 55, Tesla (TSLA) December 280 call option implied volatility increased 2% to 44 according to iVolatility.
11:07 EDTNFLXNetflix, Virgin America partner to offer passengers free WiFi access to Netflix
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10:37 EDTNFLXNetflix could announce strategic cooperation with Wanda Group, Techweb says
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09:35 EDTNFLXActive equity options trading on open
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09:19 EDTNFLXDeutsche Bank to hold a conference
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08:39 EDTORCLOracle Health Sciences adds 93 biopharma customers
Oracle (ORCL) Health Sciences announced that 93 emerging biopharma organizations worldwide have become new customers in the past year, adopting Oracle Health Sciences solutions to succeed in this rapidly evolving market and deliver drugs to patients faster. Organizations, including Accera and NewLink (NLNK), selected Oracle Health Sciences solutions to manage their end-to-end clinical trial processes, boost clinical development productivity, facilitate compliance, and build scalable, affordable platforms for growth.
07:13 EDTTSLATesla volatility elevated into delivering first Model X SUVs
Tesla October weekly put option implied volatility is at 60, October is at 48, November is at 50; compared to its 52-week range of 29 to 62 suggest large price movement into delivering its first SUVs on Tuesday night.
06:22 EDTTSLATesla rolls out Model X deliveries Tuesday, WSJ reports
Tesla is rolling out Model X deliveries Tuesday, the Wall Street Journal reports. Topping out at $132,000, the vehicle will test the company's ability to maintain momentum that has been largely unimpeded by low gasoline prices and turbulence in emerging markets, the report says. Tesla is hoping that the Model X will help it reach sales of at least 50,000 vehicles in 2015 and 500,000 by 2020, the report says. Reference Link
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