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Stock Market & Financial Investment News

News Breaks
January 23, 2013
12:22 EDTMRVL, CSC, VOD, AAPL, HUM, WLPGreen Light's Einhorn positive on Marvell, CSC, Vodafone
In its quarterly letter to investors, dated Jan. 22, David Einhorn's Greenlight Capital said it added to long positions in Marvell Technology (MRVL), Computer Sciences Corp. (CSC) and Vodafone (VOD). In reference to Marvell, Greenlight said it continued to buy Marvell shares after its sharp drop on its patent case loss. Greenlight said there are "many reasons" to expect the damages award to Carnegie Mellon to be substantially reduced or eliminated and that Marvell is making a product transition that is underappreciated by The Street. Greenlight said Computer Sciences has earnings power in excess of $4.00 and significant opportunities for margin improvement. Einhorn's fund said the market is undervaluing what Vodafone's share of the Verizon Wireless JV is worth to the company. Greenlight also noted that during the quarter it closed out long positions in Humana (HUM) and Wellpoint (WLP).
News For MRVL;CSC;VOD;AAPL;HUM;WLP From The Last 14 Days
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July 9, 2014
07:45 EDTAAPLCostco selling Apple products again, says Jefferies
Jefferies says that starting in late June, Costco (COST) began selling Apple (AAPL) products in stores and online again, after not carrying the brand since 2010. The firm thinks the move will help Costco's weaker performing Consumer Electronics category. Jefferies expects Costco to report a June comp store sales increase of 5%-6% and keeps a Hold rating on the stock.
07:10 EDTAAPLApple price target raised to $105 from $90 at Mizuho
Mizuho expects Apple to report an inline Q3 but sees upside to Q4 and expects revenue guidance to be $1B-$2B above consensus and EPS upside of 5c-10c. The firm expects 2H 2014 stock gains to be driven by the strong product cycle. Shares are Buy rated with a $105 price target, up from $90.
07:10 EDTAAPLDisney ceases on-demand movie sales in Japan via iTunes, Reuters says
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06:58 EDTAAPLApple hires two Nike FuelBand engineers, Apple Insider erports
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06:46 EDTAAPLApple loses patent suit in China, Reuters says
Apple (AAPL) had taken Shanghai-based Zhizhen Internet Technology and China's State Intellectual Property Office to court in hopes that the court would rule that Zhizhen's patent rights to a speech recognition technology were invalid, but the Beijing First Intermediate Court decided in favor of Zhizhen, according to Reuters, citing a report from the People's Daily state newspaper in China. After the ruling, the report noted that Apple is aiming to take the case to the Beijing Higher People's Court. Reference Link
06:34 EDTAAPLFake document hits federal court in hiring case against tech giants, WSJ says
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06:31 EDTAAPLFTC may probe Google over child app purchases, Politico says
After the Federal Trade Commission cracked down on apps previously available on Apple (AAPL) devices that let children spend money without their parents' permission, Apple told the FTC that similar apps are available on Google's (GOOG) app store, according to Politico. As a result, the FTC may investigate Google over this issue, Politico stated. Reference Link
05:54 EDTAAPLGarmin downgraded to Underperform from Sector Perform at Pacific Crest
Pacific Crest downgraded its rating on Garmin (GRMN) to Underperform saying any action camera optimism is likely to end in disappoint while Apple's (AAPL) potential watch announcement could create "substantial" headline and competitive risk. Pacific Crest believes Garmin shares may be overvalued and sees fair value for the stock in the mid-$40 range. The stock closed yesterday at $60.63.
05:35 EDTMRVLMarvell downgraded to Underperform from Perform at Oppenheimer
Oppenheimer downgraded Marvell to Underperform saying the company is sacrificing margins for revenue growth. The firm recommends avoiding the shares until the risk/reward improves.
July 8, 2014
16:00 EDTAAPLOptions Update; July 8, 2014
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13:12 EDTAAPLGT Advanced's sapphire screens likely in both new iPhones, says Stifel
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11:42 EDTAAPLUber poaches Apple's Chris Blumenberg, The Information reports
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10:28 EDTCSCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: A.O. Smith (AOS) initiated with an Outperform at Northland... Abengoa Yield (ABY) initiated with a Buy at BofA/Merrill... Aflac (AFL) initiated with a Buy at Drexel Hamilton... Aspen Aerogels (ASPN) initiated with a Buy at Canaccord... Boston Scientific (BSX) initiated with a Buy at CRT Capital... CSC (CSC) initiated with an Underweight at Morgan Stanley... Consumer Portfolio (CPSS) initiated with a Buy at Compass Point... Credit Acceptance (CACC) initiated with a Sell at Compass Point... Intuitive Surgical (ISRG) initiated with a Neutral at BTIG... Masimo (MASI) initiated with a Buy at BTIG... Memorial Resource (MRD) initiated with an Overweight at Barclays... MetLife (MET) initiated with a Buy at Drexel Hamilton... Mueller Water (MWA) initiated with a Market Perform at Northland... New York REIT (NYRT) initiated with a Market Perform at JMP Securities... NorthStar Asset Management (NSAM) initiated with a Market Perform at Keefe Bruyette... Ophthotech (OPHT) initiated with an Outperform at Oppenheimer... Performance Sports Group (PSG) initiated with an Outperform at Wedbush... Prudential (PRU) initiated with a Buy at Drexel Hamilton... RCS Capital (RCAP) initiated with a Neutral at BofA/Merrill... Santander Consumer (SC) initiated with a Neutral at Compass Point... Silicon Laboratories (SLAB) initiated with a Buy at MKM Partners... St. Jude Medical (STJ) initiated with a Buy at CRT Capital... Starwood Waypoint (SWAY) initiated with an Outperform at Keefe Bruyette... T-Mobile (TMUS) initiated with an Outperform at BMO Capital... TherapeuticsMD (TXMD) initiated with an Outperform at FBR Capital... Waddell & Reed (WDR) initiated with an Outperform at William Blair... Xerox (XRX) initiated with an Overweight at Morgan Stanley.
10:24 EDTAAPLApple could be impacted by Chinese subsidy cuts, says UBS
09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TSLA TWTR GILD EXXI FB MGM
09:36 EDTAAPLApple to invest $55M in North Carolina solar farm, Hicorky Record reports
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08:19 EDTVODAlcatel-Lucent awarded LTE small cells contract by Vodafone
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07:34 EDTAAPLLeak points to sapphire screen for 4.7" iPhone 6
A newly posted YouTube video supposedly shows the screen that will be used in Apple's (AAPL) upcoming 4.7" iPhone 6 and claims that the part confirms that the smaller new model will have a sapphire display, not Gorilla Glass from Corning (GLW). The video adds that the existence of the part dispels rumors that only the larger, 5.5" iPhone 6 would feature a sapphire display. Note that Apple has a sapphire contract with GT Advanced Technologies (GTAT). Reference Link
06:29 EDTMRVLSEMI predicts 21% increase in production equipment purchases in 2014, WSJ says
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06:11 EDTCSCCSC initiated with an Underweight at Morgan Stanley
Morgan Stanley believes CSC's better than expected earnings results on restructuring and cost reduction are unsustainable. The firm initiated shares with an Underweight rating and $60 price target.
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