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March 30, 2015
09:40 may see larger threat from GoDaddy than Google, says BWS Financial
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09:10 EDTINTCStrength of Intel's shares undeserved, says Bernstein
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08:01 EDTBBYBest Buy Canada changes could be quite profitable in long-term, says RBC Capital
After Best Buy announced major changes to its Canada business, RBC Capital says that the changes could more than double the company's international EBIT. The firm continues to recommend buying Best Buy's stock.
07:49 EDTAAPLBarclays ups Analog Devices on Apple design wins
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07:38 EDTGOOGSenate to investigate FTC decision to not sue Google, NY Post says
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07:32 EDTINTCIntel buyout of Altera would make strategic sense, says Deutsche Bank
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07:31 EDTINTCAltera acquisition by Intel likely would be accretive, says UBS
UBS noted the Wall Street Journal report that Intel (INTC) was in talks to potentially acquire Altera (ALTR). The firm said such an acquisition would diversify revenues from client PC's and chips, add programmable IP and networking expertise, and would be accretive under most scenarios. UBS reiterated its Buy rating and $38 price target on Intel.
07:28 EDTAAPLApple May volatility elevated at 32
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07:12 EDTINTCAltera volatility increases on buy report
Altera (ALTR) April call option implied volatility is at 64, June is at 39; compared to its 26-week average of 26 according to Track Data, suggesting large price movement after the Wall Street Journal reported Friday that Intel (INTC) is in advanced talks to acquire the company.
06:23 EDTINTCAltera buyout would be slight positive for Intel, Xilinx, says Citigroup
Citigroup believes Intel's (INTC) potential acquisition of Altera (ALTR), as reported Friday by The Wall Street Journal, would be a slight positive for Intel since Altera's business is high-margin and grows faster than the overall semi sector. Citi also believes the deal would potentially improve Xilinx’s (XLNX) competitive positioning since Intel's foundry is experiencing challenges and Altera would likely be stuck with using Intel foundry if it were acquired. The firm keeps a Neutral rating on Intel with a $32 price target.
06:20 EDTMSFTMicrosoft buys LiveLoop, terms not disclosed, WSJ reports
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06:03 EDTGOOGU.K. court to allow privacy lawsuit against Google, FT says
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05:35 EDTAAPLAnalog Devices upgraded to Overweight from Equal Weight at Barclays
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March 29, 2015
20:18 EDTBBYBest Buy sees FY16 EPS lower by 10c-20c due to Canada consolidation
Best Buy Canada, a subsidiary of Best Buy– which owns and operates both Best Buy and Future Shop stores – announced earlier that it is consolidating the Future Shop and Best Buy stores and websites under the Best Buy brand. The company also expects its GAAP and non-GAAP diluted earnings per share to be negatively impacted in FY16 in the range of 10c to 20c due primarily to a temporary increase in operational expenses associated with consolidation activities and store disruptions resulting from our investments to support the Best Buy multi-channel customer experience. Due to the transitional nature of the majority of these costs, the company does not expect this negative EPS impact to continue into future years. Consensus for Best Buy's FY16 EPS is currently $2.56 per share.
18:29 EDTINTCIf Intel buys Altera, Xilinx may become a takeover target, Re/code says
If published reports from Friday of chipmaker Intel's (INTC) intentions to acquire Altera (ALTR) turn out to be accurate, look for Altera peer Xilinx (XLNX) to be a takeover target, says Re/code says. Reference Link
13:19 EDTBBYBest Buy Canada announces consolidation of Future Shop and Best Buy stores
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March 27, 2015
19:00 EDTMSFT, GOOGMicrosoft, Yahoo extend search partnership discussions for 30 days
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16:43 EDTINTCMarket finishes week lower as Yemen conflict, data weigh on shares
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16:23 EDTINTCOn The Fly: Closing Wrap
Stocks opened slightly higher but were unable to gather any upside momentum. They quickly crossed into negative territory but never really picked up speed to the downside. After the slightly better than expected consumer confidence reading, the averages moved back into positive ground where they spent most of the session hovering near the flat line. Near the close, comments by Fed Chair Janet Yellen that an interest rate hike "may be warranted later this year," lifted the averages into positive territory. ECONOMIC EVENTS: In the U.S., real GDP growth was steady at 2.2% in Q4, falling below consensus forecasts for 2.4% growth. GDP price index grew 0.1% on a linked quarter basis, matching expectations. U.S. consumer sentiment fell to 93.0 against consensus of 92.1. The current conditions index dipped to 105.0 from February's 106.9, while the consumer expectations index dropped to 85.3 from 88.0. COMPANY NEWS: Dow Chemical (DOW) and Olin (OLN) were up 3% and 14%, respectively, after announcing that Dow will separate much of its chlorine value chain and merge the entity with Olin in a $5B deal. Additionally, the companies announced a 20-year arrangement in which Dow will supply Olin with ethylene. Late in the session, the Wall Street Journal reported that Intel (INTC) was in talks to acquire Altera (ALTR), sending both stocks higher by 6% and 28%, respectively. MAJOR MOVERS: Among the notable gainers was Carnival (CCL), which rose over 6% after beating earnings expectations and raising FY15 revenue yield guidance. Also higher was BioMarin (BMRN), jumping 11% after speculation of a Shire (SHPG) takeover deal. Among the noteworthy losers was Southern Cooper (SCCO), which fell nearly 4% after the company cancelled its Tia Maria mining project. Also lower was OvaScience (OVAS), down 10% after Oppenheimer reported pushback from academics during the company's presentation of early Augment data. Opco cautioned, however, that criticism of non-trial data is "inevitable" and JMP Securities called the results encouraging. INDEXES: The Dow rose 34.43, or 0.19%, to 17,712.66, the Nasdaq gained 27.86, or 0.57%, to 4,891.22, and the S&P 500 added 4.87, or 0.24%, to 2,061.02.
16:01 EDTAAPLOptions Update; March 27, 2015
iPath S&P 500 VIX Short-Term Futures down 31c to 25.74 Option volume leaders: AAPL TSLA TWTR RAD FB PBR AMZN DOW VLO AMAT ALTR according to Track Data.
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