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Stock Market & Financial Investment News

News Breaks
March 28, 2014
11:18 EDTMSFT, AAPLCitigroup predicts Microsoft shares will move lower
Microsoft's (MSFT) stock is likely to give up its recent gains, Citigroup analyst Walter Pritchard wrote in a note to investors earlier today. WHAT'S NEW: After Microsoft's stock rose in the wake of its launch of an Office app for Apple's (AAPL) iPad yesterday, Citigroup analyst Walter Pritchard predicted that Microsoft would not get a significant boost from the app. Noting that Office sales to consumers only account for about 5% of the company's total revenue, Pritchard said he doesn't expect the app to significantly increase Microsoft's top line. Many iPad users who would be interested in using Office on the iPad are likely already Office subscribers, the analyst stated. Moreover, it's unclear if many people will want to use the app for functions other than reading and presentation mode, both of which will be available at no charge, Pritchard stated. The analyst kept a $35 price target and Neutral rating on Microsoft. PRICE ACTION: In late morning trading, Microsoft rose $1.09, or 2.8%, to $40.45.
News For MSFT;AAPL From The Last 14 Days
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May 18, 2015
19:27 EDTMSFTMicrosoft's new internet browser to be Windows exclusive, TechCrunch says
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16:28 EDTMSFTWindows 10 Mobile devices to feature carrier-free updates, ZDNet says
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16:21 EDTAAPLOn The Fly: Top stock stories for Monday
Stocks on Wall Street advanced in Monday trading, sending the Dow Jones Industrial Average and the S&P 500 to new all-time closing highs. The early part of the day saw the market move in a narrow range, but by early afternoon the market punched through its upper range and moved to session highs. The market drifted throughout the afternoon as the news flow was quiet and the trading volume remained light. ECONOMIC EVENTS: In the U.S., the National Association of Home Builders’ confidence index fell 2 points to a reading of 54 in May, missing expectations for a 1 point increase to a reading of 57. COMPANY NEWS: Shares of Apple (AAPL) advanced $1.47, or 1.14%, to $130.24 after noted investor Carl Icahn stated in an open letter to the company's CEO that he thinks other investors, analysts and the news media continue to misunderstand Apple and that its stock is "worth $240 today." Icahn urged Apple CEO Tim Cook to take advantage by launching a "much larger buyback" of the iPhone maker's shares. Separately, FBR Capital analysts Daniel Ives and James Moore wrote this morning in a note to investors that the Street is still underestimating Apple's growth outlook in China. The analysts believe that Apple's China revenue will exceed its revenue from the Americas in fiscal 2017... Endo International (ENDP) slid $4.53, or 5.31%, to $80.82 after the company agreed to pay $8B for privately held Par Pharmaceutical, which will roughly double Endo’s generics revenue and place its generics business among the top five as measured by U.S. sales. MAJOR MOVERS: Among the notable gainers was Ann Inc. (ANN), which surged $7.69, or 19.87%, to $46.40 after agreeing to be acquired by Ascena Retail Group (ASNA) for about $2.15B in cash and stock. Ascena, which agreed to pay $37.34 in cash and 0.68 of a share of its own common stock in exchange for each share of the parent of the Ann Taylor brand, slipped 14c, or 0.99%, to $14.07 after announcing the deal. Also higher was Achillion (ACHN), which rose $1.41, or 14.79%, to $10.98 after the company cancelled its presentation at the UBS Global Healthcare Conference. Conference cancellations often generate speculation as to whether a company is engaged in merger or acquisition talks. Among the noteworthy losers was Eleven Biotherapeutics (EBIO), which dropped $8.29, or 69.26%, to $3.68 after announcing the company’s Phase 3 study of its lead drug candidate, EBI-005, in moderate to severe dry eye disease did not meet either of its two co-primary endpoints. Also lower were shares of Weibo (WB), which fell 87c, or 5.24%, to $15.73 after the shares were downgraded to Hold from Buy at Summit Research. INDEXES: The Dow rose 26.32, or 0.14%, to 18,298.88, the Nasdaq gained 30.15, or 0.6%, to 5,078.44, and the S&P 500 added 6.47, or 0.3%, to 2,129.20.
16:00 EDTMSFT, AAPLOptions Update; May 18, 2015
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14:04 EDTAAPLEarnings Watch: Wal-Mart sees Q1 EPS 95c-$1.10, U.S. SSS up 1%-2%
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13:49 EDTAAPLEarnings Watch: Home Depot sees FY15 EPS $5.11-$5.17, revenue growth 3.5%-4.7%
Home Depot (HD), a home improvement retailer, is scheduled to report first quarter results before the market opens on Tuesday, May 19, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.15 on revenue of $20.82B, according to First Call. The consensus range for EPS is $1.12-$1.19 on revenue of $20.47B-$21.26B. LAST QUARTER: Home Depot reported fourth quarter adjusted EPS of $1.00 on revenue of $19.16B, beating analysts' consensus estimates for 89c and $18.7B, respectively. The company said same-store sales increased 7.9%, with U.S. SSS up 8.9%. The company forecast fiscal year 2015 EPS of $5.11-$5.17 on revenue growth of 3.5%-4.7%, against estimates at that time for $5.23 and $86.46B, respectively. Home Depot also guided to FY15 SSS growth of 3.3%-4.5% and said it expected FY15 gross margin to be flat, with a tax rate of approximately 37%. Capital expenditures for FY15 were foreseen at $1.6B, with cash flow from business at $9B. In addition to reporting better than expected Q4 earnings, Home Depot also announced an $18B share repurchase program and increased its quarterly dividend by 26% to 59c. NEWS: On its Q4 earnings conference call, Home Depot said it expected moderate GDP growth and housing recovery to drive growth in 2015. The company noted that if foreign currency rates continued as they were in February, sales in 2015 could be negatively impacted by $1B. At March's Raymond James conference, Home Depot backed its guidance for FY15. The company also said it sees FY15 operating margin approximately 60bps to greater than 13%. The company plans to open six new stores in FY15, including five stores in Mexico and one in Canada. The retailer is targeting FY15 share repurchases of $4.5B. On May 5, MacRumors reported that Home Depot may begin phasing out support for Apple Pay (AAPL) at its retail stores. Point72 Asset Management announced that it liquidated its stake during the quarter. STREET RESEARCH: In March, Oppenheimer said it believes that Home Depot has a number of positive catalysts, including solid U.S. consumer spending trends, significant slack in the U.S, housing recovery, improving market sentiment and investors' interest in domestic plays as the dollar strengthens. The firm raised its price target to $133 from $115 and kept an Outperform rating on the stock. On April 26, Barron's said shares of Home Depot could rise towards $124 as the housing market regenerates and demand for renovation grows. BofA/Merrill said the home improvement is one of the more attractive areas within retail and recommended buying Home Depot. During the quarter, Home Depot was initiated with a Hold rating and $108 target at Cantor. PRICE ACTION: Over the last three months, Home Depot shares are up over 1.5%. Ahead of Tuesday's earnings, Home Depot is fractionally higher at $113.77.
13:37 EDTMSFTBaidu, Uber teaming up to pursue Nokia's maps unit, Bloomberg reports
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12:51 EDTAAPLOn The Fly: Top stock stories at midday
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11:49 EDTAAPLApple readying new features for Apple Watch, 9to5Mac reports
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11:26 EDTAAPLFBR, Icahn both say Apple being underappreciated
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11:08 EDTAAPLIcahn says Apple shares 'worth $240 today,' urges 'much larger' buyback
In an open letter to Apple CEO Tim Cook posted to his Shareholder's Square Table website, investor Carl Icahn stated that he believes Apple shares "are worth $240 today." With Apple’s shares trading for "just $128.77 per share" versus Icahn's valuation of $240 per share, the investor said it is the time for a "much larger buyback" to be launched by the company. Apple’s earnings multiple has stayed "irrationally discounted," according to Icahn, since investors, analysts and the news media continue to misunderstand Apple and "generally fail to value Apple’s net cash separately from its business, fail to adjust earnings to reflect Apple’s real cash tax rate, fail to recognize the growth prospects of Apple entering new categories, and fail to recognize that Apple will maintain pricing and margins."
11:04 EDTAAPLCarl Icahn says Apple shares 'worth $240 today'
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09:36 EDTAAPLActive equity options trading on open
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09:36 EDTAAPLAppeal says Samsung $930M damages to Apple must be adjusted, Bloomberg reports
The U.S. Court of Appeals for the Federal Circuit ruled that Samsung (SSNLF) did infringe Apple’s (AAPL) design patents, but did not violate Apple’s trade dress, meaning the $930M damages award to Apple must be adjusted, reported Bloomberg. Reference Link
09:26 EDTAAPLApple gets mixed ruling from appeals court in Samsung case, Bloomberg reports
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08:28 EDTAAPLApple Watch volume down but mix is up. says UBS
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07:29 EDTAAPLApple China growth underappreciated by investors, says FBR Capital
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06:05 EDTMSFTStocks with implied volatility below IV index mean; MSFT GE
Stocks with implied volatility below IV index mean; Microsoft (MSFT) 17, General Electric (GE) 15 according to iVolatility.
May 17, 2015
18:04 EDTAAPLApple acquires Coherent Navigation, NYT says
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14:45 EDTMSFTMicrosoft should acquire software translator Xamarin, Barron's says
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