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Stock Market & Financial Investment News

News For MSFT;BBY;WMT;AAPL;GOOG;INTC;NVDA From The Last 14 Days
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November 28, 2014
13:32 EDTWMTOn The Fly: Closing Wrap
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13:09 EDTWMT, AAPLOptions Update; November 28, 2014
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11:29 EDTBBYBest Buy says website back up after being unavailable
Best Buy said via Twitter, "We're back. Thanks for your patience!"
11:19 EDTBBYBest Buy says website currently unavailable
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11:15 EDTBBYBest Buy says website currently unavailable
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10:04 EDTINTCIntel hits fresh 52-week high, levels to watch
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09:40 EDTAAPL, WMTActive equity options trading
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09:22 EDTWMTWal-Mart Canada announces expansion of Grab and Go lockers
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07:52 EDTMSFTMicrosoft to detail Windows 10 consumer features at Jan. event, The Verge says
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07:43 EDTNVDA, INTCHP results an incremental positive for PC and Server industry, says B. Riley
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07:41 EDTMSFTMicrosoft accidentally pre-announces purchase of Acompli, TechCrunch reports
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07:36 EDTAAPLReport: Apple to build Chinese sapphire plant with Foxconn, MacObserver says
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07:17 EDTINTCIntel calls on India to strengthen trade secrets protection, Economic Times says
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06:25 EDTAAPLApple to slow down chip orders for newest iPhone, DigiTimes reports
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06:18 EDTGOOGEuropean Parliament vote calls on regulators to consider Google break-up
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06:13 EDTWMTWal-Mart releases statement on early Black Friday results
Wal-Mart Senior VP of Merchandising Laura Phillips said, “Last night was awesome! In a few short hours, we flipped from being the largest grocery store in town to the best gift shop on the block. Not only did we have millions of customers shopping our stores, but we’re confident Walmart was the first stop of the night for most of them. We saw lines for tablets and TVs snaking throughout the stores, and with our exclusive 1-Hour Guarantee, customers left happy. Our customers came with a plan to win. More than 25 million people downloaded our Black Friday ad, and 20 million customers used their local store maps on Walmart.com. Online shopping started while turkeys were still in the oven and yesterday was our second-highest online sales day ever – topped only by Cyber Monday last year. Tablets, TVs, sheets, children’s apparel, and video gaming were the top five categories of the night in our stores."
November 26, 2014
16:01 EDTAAPLOptions Update; November 26, 2014
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12:34 EDTAAPL, GOOGApple Pay competitor to reportedly launch in China, WantChinaTimes says
China UnionPay, the largest issuer of credit and debit cards in China, is promoting a mobile payment system for smartphones that use Google's (GOOG) Android operating system, China Business News reported, according to WantChinaTimes. The service will use NFC technology like Apple;'s (AAPL) Apple Pay, and launch in the third quarter of 2015, WantChina Times quoted the China Business News article as saying. NXP Semiconductors (NXPI) and Broadcom (BRCM) manufacture NFC chips. Reference Link
11:07 EDTWMTWal-Mart pares executive ranks in China amid restructuring, Bloomberg says
Wal-Mart has dismissed around 30 senior executives in China, says Bloomberg. Walmart, which has faced headwinds in China from competition and food safety scandals, says the executives were dismissed in an effort to “streamline and simplify” its business, added Bloomberg. Reference Link
09:35 EDTAAPLActive equity options trading
Active equity options trading according to Track Data: AAPL HPQ SDRL TASR FB TXN NFLX AMZN TWTR PBR
08:55 EDTAAPLApple SVP Federighi sells 81.5K shares
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07:25 EDTAAPLApple may be stopping production of the iPhone 5c next year, MacRumors says
Apple may be discontinuing production of the iPhone 5c in 2015, reports MacRumors, citing Tiawan's Industrial and Commercial Times. Production may be stopping in the middle of the year as Wistron and foxconn look to wind down their production of the device. Reference Link
06:39 EDTMSFTMicrosoft cuts Xbox price for limited time to $329
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06:32 EDTAAPLTSMC expected to grab 40%-50% of Apple A9 chip orders, DigiTimes reports
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November 25, 2014
18:50 EDTMSFTMicrosoft fined $140M by China for tax evasion, Re/code reports.
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16:02 EDTAAPLApple Tesla Twitter Facebook Netflix
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15:29 EDTINTCIntel hits fresh highs and ticks resistance at a key technical juncture
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14:29 EDTGOOGGoogle volatility at low end of historic range
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13:24 EDTAAPLApple volatility low as shares near record high
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13:16 EDTGOOGAngie's List retreats after Amazon reportedly launches local services site
Shares of Angie's List (ANGI) are sinking after The Wall Street Journal reported this morning that Amazon.com (AMZN) had launched a website that will connect consumers to local service providers. Angie's List connects users to local contractors and publishes consumers' reviews of contractors. WHAT'S NEW: Amazon.com launched its website featuring information about local contractors in New York, Los Angeles, and Seattle, The Journal reported, citing an unnamed source who was briefed on the company's plan. Called Amazon Local Services, the website is part of the e-commerce giant's attempt to compete with traditional stores, The Journal said. WHAT'S NOTABLE: Reuters reported last June that Amazon planned to launch a local services website. Last month, research firm Wunderlich said that Angie's List could be a logical takeover target for Amazon or eBay (EBAY). Wunderlich issued its note after The Financial Times reported that Angie's List had hired bankers to help it explore strategic options, including a possible sale of the company. ANALYST REACTION: In a note to investors today, Robert W. Baird analyst Colin Sebastian wrote that Amazon's service should be appealing to users searching for local services or shopping for products that have to be serviced. Moreover, service providers should also find value in Amazon's website, Sebastian stated. Service providers will only have to pay Amazon a share of the revenue they receive from customers they obtain from the website, the analyst wrote. Also, Amazon's popularity will enable it to bring meaningful amounts of business to the service providers, Sebastian wrote. He kept a $340 price target and Outperform rating on Amazon shares. Sebastian also noted that the market is increasingly competitive, with Groupon (GRPN) and Yelp (YELP) among the other public companies in the space, and he said he expects Facebook (FB) and Google (GOOG) to build more local services over time. PRICE ACTION: In early afternoon trading, Angie's List fell 4% to $6 and Amazon slid 1% to $332.50.
11:44 EDTAAPLPandora sinks after FBR downgrades to Underperform citing royalty risks
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11:10 EDTAAPL, GOOGWorldwide tablet growth expected to slow to 7.2% in 2014, IDC says
The worldwide tablet market is expected to see a massive deceleration in 2014 with year-over-year growth slowing to 7.2%, down from 52.5% in 2013, according to a new forecast from International Data Corporation (IDC). At the core of this slowdown is the expectation that 2014 will represent the first full year of decline in Apple iPad shipments. Both the iPad and the overall market slowdown do not come as a surprise as device lifecycles for tablets have continued to lengthen, increasingly resembling those of PCs more than smartphones. "The tablet market continues to be impacted by a few major trends happening in relevant markets," said Ryan Reith, Program Director with IDC's Worldwide Quarterly Mobile Device Trackers. "In the early stages of the tablet market, device lifecycles were expected to resemble those of smartphones, with replacement occurring every 2-3 years. What has played out instead is that many tablet owners are holding onto their devices for more than 3 years and in some instances more than 4 years. We believe the two major drivers for longer than expected tablet lifecycles are legacy software support for older products, especially within iOS, and the increased use of smartphones for a variety of computing tasks." Publicly traded companies in the space include Samsung (SSNLF), Apple (AAPL), Google (GOOG), Amazon.com (AMZN) and Barnes & Noble (BKS). Reference Link
10:16 EDTGOOG, AAPLYahoo seeks to replace Google when Apple deal ends next year, Information says
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09:40 EDTAAPLApple price target raised to $130 from $115 at Stifel
Stifel earlier today raised its price target for Apple shares to $130 after including the impact of Apple Watch. The firm estimates 2015 Watch units at 19.6M, adding roughly $9.6B in incremental revenue. Stifel sees $13.1B of incremental Watch revenue in 2016 on 27.8M units shipped. It keeps a Buy rating on Apple shares. The stock is up $1.09 to $119.72 in early trading.
09:39 EDTAAPL, INTCActive equity options trading
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09:07 EDTAAPLBlackBerry offering rebates on Passport smartphone
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07:22 EDTWMTWal-Mart volatility at low end of historic range as shares near record high
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07:19 EDTMSFTMicrosoft filed lawsuit against IRS over contract with law firm, Reuters says
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06:23 EDTINTCARM, Intel see growth opportunities in Internet of things segment, DigiTimes say
ARM-based CPU platforms are not expected to achieve any significant results within the next two years in PC and server industries, reports DigiTimes. According to sources from the supply chain, ARM (ARMH) and Intel (INTC) have found a new business opportunity in the Internet of things segment and both expect growth in that area. Reference Link
06:18 EDTINTCIntel decides to keep tablet subsidies, Digitimes reports
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06:10 EDTWMTWal-Mart's Duncan Mac Naughton expected to announce departure, WSJ reports
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November 24, 2014
16:34 EDTAAPLOn The Fly: Closing Wrap
Stocks on Wall Street opened in quiet fashion and trading remained that way throughout the day. The Dow and S&P moved in a narrow range and hugged the flat line, while the Nasdaq drifted steadily higher and added nearly 1% by the close of trade. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index fell to 0.14 in October, versus expectations for a reading of 0.33. Markit's services PMI fell to 56.3 in the flash reading for November, versus expectations for a slight increase to 57.3 from its prior reading of 57.1. The Dallas Fed manufacturing index was steady at 10.5 in November, versus expectations for a 9.0 reading. Overseas, the euro area’s largest economy, Germany, saw a business climate index advance to 104.7 in November from 103.2 in October, beating economists' prediction for a decline to a reading of 103. COMPANY NEWS: Apple (AAPL) had a role in the Nasdaq's outperformance, as the tech giant climbed after a number of research firms, including Susquehanna, Cantor and KGI Research, were upbeat on the outlook for the company's performance during the holiday season. The iPhone maker's stock rose $2.15, or 1.85%, to close at $118.62 to close just below the 52-week high of $118.77 it hit late in the session... United Technologies (UTX) fell $1.51, or 1.37%, to $108.79 after the Dow member announced that Louis Chenevert had retired as Chairman and CEO, effective immediately. The company reaffirmed its expectations for 2014 earnings per share and sales, but provided little information regarding the abrupt exit of the executive. MAJOR MOVERS: Among the notable gainers was Prosensa (RNA), which surged $7.16, or 62.59%, to $18.60 after the small drugmaker agreed to be acquired by larger BioMarin (BMRN). After the deal announcement BioMarin shares also rose $2.11, or 2.46%, to $87.94, while Sarepta Therapeutics (SRPT), which is working on a Duchenne muscular dystrophy treatment to rival Prosensa's, advanced 88c, or 5.59%, to $16.61. Also higher was Cimatron (CIMT), which jumped $2.57, or 42.27%, to $8.65 after 3D Systems (DDD) agreed to buy the company for approximately $97M, or $8.97 per share, in cash. Among the noteworthy losers was Ring Energy (REI), which fell $1.28, or 9.54%, to $12.14 after Canaccord downgraded the stock to Hold from Buy, citing the the recent decline in crude oil prices and the potential need for the company to raise capital. Also lower were shares of Potash (POT), which fell $2.23, or 6.09%, to $34.40, and Mosaic (MOS), which slid $1.75, or 3.71%, to $45.46 after Russia's Uralkali, the world's largest potash producer, was reported to be set to start repair work at part of its damaged mine. INDEXES: The Dow added 7.84, or 0.04%, to 17,817.90, the Nasdaq rose 41.92, or 0.89%, to 4,754.89, and the S&P 500 gained 5.91, or 0.29%, to 2,069.41.
16:00 EDTAAPLOptions Update; November 24, 2014
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14:03 EDTAAPLApple advances after analysts upbeat on holiday season outlook
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13:53 EDTGOOGCCS Insight predicts Google will buy GoPro in 2015, Wareable reports
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11:49 EDTAAPLCitigroup mobile devices analysts hold an analyst/industry conference call
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10:32 EDTBBYOptions with decreasing implied volatility
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09:39 EDTAAPLActive equity options trading
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08:53 EDTGOOGEU lawmakers to vote Thursday on motion proposing Google breakup, Reuters says
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08:41 EDTAAPLApple price target raised to $135 from $120 at Susquehanna
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08:38 EDTWMTWal-Mart names former American Airlines CEO Tom Horton to board
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08:34 EDTMSFTJefferies software analysts hold an analyst/industry conference call
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07:07 EDTAAPLApple to have very good holiday season, says Cantor
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06:38 EDTGOOGGoogle may plan to shut down Glass Basecamps, 9to5Google reports
Google may plan to shut down its Glass Basecamps, reports 9to5Google. Citing a post on Google+ by Glass Exporer Spencer Kleyweg, the company is no longer accepting scheduled appointments to Glass support hubs. The shudown apparently affects all four of its basecamps, located in Los Angeles, New York, San Francisco and London. Reference Link
06:12 EDTAAPLSamsung, Apple, LG rank as top 3 smartphone vendors in 2014, DigiTimes says
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November 23, 2014
17:24 EDTINTCIntel, Qualcomm look like 'excellent' investments, Barron's says
Intel (INTC) and Qualcomm (QCOM) both look like "excellent" investments, with Qualcomm looking better for risk-prone investors, Barron's contends in its 'Technology Trader' column. Reference Link
17:02 EDTNVDASamsung files complaint aimed at blocking Nvidia chips, Bloomberg says
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17:01 EDTINTCIntel shares could rise 30%, Barron's says
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November 21, 2014
18:36 EDTAAPLApple $450M e-book settlement approved by court, Reuters says
A U.S. judge issued final approval to Apple's agreement to pay $450M to settle claims it hurt consumers by conspiring with five publishers to raise e-book prices, Reuters reports. Reference Link
17:48 EDTMSFTMicrosoft remains a Buy, Barron's says
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16:36 EDTINTC, BBYMarket ends week higher as domestic data, foreign central banks boost shares
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16:20 EDTMSFTOn The Fly: Closing Wrap
Stocks on Wall Street gained after China's central bank cut interest rates for the first time in over two years to bolster its economy. Additionally, the head of Europe's central bank said he was determined to do what is needed to ensure the area's economy does not once again fall into crisis. ECONOMIC EVENTS: In the U.S., the Kansas City Fed manufacturing index for November had a reading of 7, compared to the consensus forecast for a reading of 6. In Asia, the People's Bank of China unexpectedly cut interest rates, slashing the one-year lending rate by 40 basis points and the one-year deposit rate by 25 basis points. The move, which was the central bank's first interest rate cut since 2012, surprised markets around the globe. In Europe, European Central Bank President Mario Draghi said indicators have been declining to levels he would deem "excessively low" and that he is determined to use more aggressive measures, such as large scale asset purchases, as needed. COMPANY NEWS: Microsoft (MSFT) was the worst performer on the Dow after Jefferies initiated coverage of the stock with an Underperform rating. Microsoft's stock has rallied 30% in the last year, but the company is still facing the same fundamental problems as in previous years, Jefferies analyst John DiFucci wrote. He set a $40 price target on the shares, which slipped 74c, or 1.5%, to $47.97. MAJOR MOVERS: Among the notable gainers was Ross Stores (ROST), which advanced $6.06, or 7.28%, to $89.27 after the company reported stronger than expected Q3 results. Also higher were shares of Caterpillar (CAT), which rose $4.36, or 4.27%, to $106.45 amid the quantitative easing actions taken abroad and after research firm Stifel initiated coverage of the stock with a Buy rating. Among the noteworthy losers was GameStop (GME), which sunk $5.68, or 13.05%, to $37.86 after the video game retailer's third quarter results, as well as its fourth quarter and full year profit forecasts, trailed consensus estimates. Also lower were shares of The Gap (GPS), which dropped $1.68, or 4.19%, to $38.46 after the owner of Banana Republic, Old Navy and its namesake clothing brand lowered its fiscal year profit outlook. INDEXES: The Dow rose 91.06, or 0.5%, to 17,810.06, the Nasdaq gained 11.10, or 0.24%, to 4,712.97, and the S&P 500 added 10.75, or 0.52%, to 2,063.50.
15:08 EDTAAPLOptions Update; November 21, 2014
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14:08 EDTMSFTHacker group releases login info for three gaming networks, CNet says
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13:45 EDTGOOGEuropean parliament poised to call for Google break-up, FT reports
Germany’s Günther Oettinger has raised significant concerns about Google's power since his nomination to be the EU’s digital commissioner, and a new European parliament draft motion says that “unbundling [of] search engines from other commercial services” should be considered as a potential solution to Google’s dominance, reported the Financial Times. Reference Link
13:20 EDTMSFTOn The Fly: Midday Wrap
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13:17 EDTAAPLSquare to accept Apple Pay in 2015, CNN reports
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12:49 EDTGOOGGoogle to let users pay to avoid web ads
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11:30 EDTBBYGameStop plummets after Q3 results, profit outlook trail analysts' estimates
Shares of video game retailer GameStop (GME) are sinking after reporting third quarter results, as well as its fourth quarter and full year profit forecasts, that trailed analysts’ consensus estimates. WHAT'S NEW: GameStop last night reported Q3 adjusted earnings per share of 57c and revenue of $2.09B, trailing analysts' consensus estimates of 61c and $2.2B, respectively. Consolidated comparable store sales dropped 2.3% for the quarter. The company said topline and comparable store sales were negatively impacted by the delayed release of Assassin’s Creed Unity. GameStop said new hardware sales increased 147.4% during the quarter, outpacing industry growth of 102.4%. Additionally, GameStop said it reached 47.3% new software market share in Q3. WHAT’S NOTABLE: Looking ahead, GameStop forecast adjusted Q4 EPS of $2.08-$2.24, below analysts' estimates of $2.28. GameStop expects Q4 SSS to be down 5% to up 2%. The company cited several titles being moved out of 2014 and the current sales trends of prior generation software for the weak outlook. For FY14, GameStop narrowed its EPS view to $3.40-$3.55 from $3.40-$3.70, trailing analysts' estimates of $3.68. Full year comparable store sales growth is now expected to be up 2%-5%, down from its prior view of 6%-12% growth. ANALYST REACTION: This morning, research firm Telsey Advisory downgraded GameStop to Market Perform given that the previous thesis for a robust new gaming cycle has not materialized. They said soft Q3 results and lowered guidance indicate the gaming cycle is not as strong as previously thought, and lowered their price target on the shares to $45 from $51. Another firm, RW Baird, called GameStop's Q3 results disappointing, citing its accelerating declines in old generation hardware and software sales, reduced guidance and a key title delay. Baird maintained its Outperform rating on GameStop shares, but lowered its price target to $50 from $52. Janney Capital said that GameStop's mobile miss is surprising and disappointing given the iPhone 6 launch and the company's need for mobile growth to break its dependence on the game cycle. Prior-gen software declines have been steeper, pushing out the software inflection beyond Q4, which the firm said is later than expected. However, Janney maintained the value of discs will be more evident and ease concerns as game file sizes increase. The firm maintained its Buy rating on the stock, but lowered its fair value estimate to $45 from $50. PRICE ACTION: In late morning trading, GameStop fell $5.9, or 13.52%, to $37.66 on more than three times its average daily trading volume. Including today’s pullback, the stock has lost approximately 23% over the past twelve months. OTHERS TO WATCH: Other video game retailers include Best Buy (BBY), which is up 1%.
10:38 EDTMSFTJefferies says Microsoft, Salesforce.com, Symantec facing significant problems
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10:26 EDTBBYOptions with decreasing implied volatility
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10:01 EDTMSFTOn The Fly: Analyst Initiation Summary
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10:00 EDTINTCOn The Fly: Analyst Downgrade Summary
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10:00 EDTBBYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Best Buy (BBY) upgraded to Outperform from Market Perform at Telsey Advisory... BlackRock (BLK) upgraded to Outperform from Market Perform at Bernstein... Cerner (CERN) upgraded to Outperform from Market Perform at Cowen... Community Health (CYH) upgraded to Outperform from Market Perform at Raymond James... Lockheed Martin (LMT) upgraded to Neutral from Sell at UBS... Teekay Offshore Partners (TOO) upgraded to Buy from Neutral at Citigroup... Trinity Industries (TRN) upgraded to Buy from Neutral at Longbow... Zebra Technologies (ZBRA) upgraded to Overweight from Neutral at JPMorgan... Ross Stores (ROST) upgraded to Hold from Sell at Maxim... St. Jude Medical (STJ) upgraded to Outperform from Market Perform at Cowen... Wolverine World Wide (WWW) upgraded to Buy from Neutral at DA Davidson... D.R. Horton (DHI) upgraded to Market Perform from Underperform at Raymond James... KB Home (KBH) upgraded to Market Perform from Underperform at Raymond James... Sony (SNE) upgraded to Overweight from Neutral at JPMorgan.
09:36 EDTAAPLActive equity options trading
Active equity options trading according to Track Data: AAPL AMZN TSLA BIDU CLF DOW LVS BABA TWTR GILD
09:17 EDTWMTOn The Fly: Pre-market Movers
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08:06 EDTINTCIntel DCG growth could add 15c-20c to 2015 EPS, says Jefferies
Jefferies says the bear argument on Intel misses the fact that the company's Data Center Group is expected to growth 15% annually for the foreseeable future. The firm estimates DCG growth could add $1B in free cash flow and 15c-20c in EPS In 2015. If also estimates Intel's PC revenue, which the bears highlight, will increase by 4% in 2014 to $35B, at 45% operating margin and contribute $2.00 in EPS. Jefferies reiterates a Buy rating on Intel with a $45 price target.
07:56 EDTINTCIntel analyst day mixed, says FBR Capital
FBR Capital views Intel's analyst day as mixed since the company's gross margin and PC guidance came in below its expectations while it also announced a dividend increase and better than expected capex outlook. FBR raised its price target for Intel shares to $40 from $36 saying the cash return story is likely to temp income investors. It keeps an Outperform rating on the stock.
07:35 EDTINTC, INTCIntel downgraded to Sell from Underperform at CLSA
Price target is $31.
07:29 EDTINTCIntel data center unit forecast beat estimates, says Pacific Crest
Pacific Crest says that Intel's 2015 guidance for its data center unit surpassed consensus estimates. The firm notes that the unit generates 42% of the company's operating profits, and it thinks the company has a number of other positive catalysts. It recommends buying the shares.
06:22 EDTBBYBest Buy price target raised to $43 from $36 at Citigroup
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06:11 EDTBBYBest Buy upgraded to Outperform from Market Perform at Telsey Advisory
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06:08 EDTGOOGFacebook working to expand drone team, Re/code reports
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06:05 EDTINTCIntel may not reach goal of shipping 70M tablet chips next year, Re/code reports
Intel CEO Bryan Krzanich said in an interview on the sidelines of the company's investor meeting that the company may not ship 70M tablet chips in 2015 as previously predicted, Re/code reports. Krzanich commented, "I don’t think our standalone number will be that high." Reference Link
November 20, 2014
17:21 EDTWMTSolarCity announces new power, energy storage projects with Walmart
SolarCity (SCTY) announced it has entered into contract with Walmart (WMT) for the installation of new solar projects at facilities in up to 36 states over the next four years. SolarCity has completed more than 200 solar projects at Walmart locations since 2010. SolarCity has also installed and tested energy storage projects co-located with solar power generation at 13 Walmart facilities since early 2013, and will be incorporating ten additional storage projects in the next year.
16:40 EDTMSFTJefferies says new Microsoft looks like old, starts with Underperform
Jefferies initiated shares of Microsoft with an Underperform rating after the closing bell, saying the "new" Microsoft will look very much like the "old" Microsoft for some time. The firm attributes the 30% rally in shares over the past year to optimism around new management, but it thinks the tech giant's fundamentals remain challenged despite its focus on cloud and mobile given its dependency on the PC market. Jefferies put a $40 price target on the stock. Microsoft closed the trading day up 48c to $48.70.
16:24 EDTINTC, BBYOn The Fly: Closing Wrap
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16:10 EDTMSFTMicrosoft initiated with an Underperform at Jefferies
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15:44 EDTAAPLOptions Update; November 20, 2014
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13:59 EDTINTCIntel remains a top pick at Wells Fargo
Wells Fargo says Intel's outlook for 2015 is "roughly consistent" with its estimates. It expects Intel's competitive strength to profitability and share value over the next several years. The firm views Intel as a top pick and keeps an Outperform rating on the stock.
12:54 EDTBBYBest Buy strength a selling opportunity, says Evercore ISI
12:46 EDTBBYOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite disappointing purchasing managers' index readings in both China and Europe. The market took its early lead from Europe and opened lower, though the major averages moved into positive territory following a trio of better than expected domestic economic reports, as the leading economic indicators, Philadelphia Fed survey, and existing home sales all beat consensus forecasts. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 2K to 291K in the week ended November 15, versus expectations for 280K first-time claims. The Consumer Prices Index was unchanged in October, versus expectations for a drop of 0.1%. The core CPI reading, which excludes food and energy, rose 0.2%, versus expectations for an increase of 0.1%. Markit's flash manufacturing PMI slipped 1.2 points to 54.7 in November, versus the consensus forecast for a 56.5 reading. Existing home sales rose 1.5% to a 5.26M rate in October, which beat expectations for a decline to a 5.15M unit rate. The index of leading indicators climbed 0.9% to 105.2 in October, beating expectations for a 0.5% increase. The Philadelphia Fed manufacturing index surged to 40.8 in November, easily topping the consensus expectation for a 18.0 reading. In Asia, the HSBC/Markit manufacturing PMI for China fell to a six-month low of 50.0 in the flash reading for November, which is down from a final reading of 50.4 in October and below the 50.3 consensus forecast. In Europe, Markit's flash eurozone PMI composite output index, which tracks surveys from both the manufacturing and services sectors, came in at 51.4 for November, which was down from 52.1 in October and represents the measure's lowest level in 16 months. COMPANY NEWS: Shares of Best Buy (BBY) advanced 7% after its third quarter profit beat estimates and it reported that its domestic same-store sales grew 3.2%. The electronics retailer also said the sales trends it is seeing as its enters the critical fourth quarter are "encouraging from a top-line perspective." MAJOR MOVERS: Among the notable gainers was Williams-Sonoma (WSM), which rose nearly 10% after the home goods retailer's third quarter results surpassed analysts’ consensus estimates and the company raised its fiscal 2014 outlook. Also higher following its own "beat and raise" quarterly report was Kirkland's (KIRK), which advanced 18%. Among the noteworthy losers was Liquidity Services (LQDT), which dropped 9% after its fourth quarter earnings missed expectations and the company said it will no longer give yearly guidance. Also lower was Keurig Green Mountain (GMCR), which dropped 6% after its first quarter profit outlook fell short of analysts’ consensus estimates and the company's Chief Financial Officer announced plans to depart. INDEXES: Near midday, the Dow was up 7.84, or 0.04%, to 17,693.57, the Nasdaq was up 22.08, or 0.47%, to 4,697.80, and the S&P 500 was up 3.01, or 0.15%, to 2,051.73.
12:34 EDTINTCIntel sees FY15 R&D spending approximately $20B, plus or minus $400M
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12:33 EDTINTCIntel sees FY15 CapEx approximately $10.5B, plus or minus $500M
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12:32 EDTINTCIntel sees FY15 gross margin 62%, plus or minus two points
12:32 EDTINTCIntel sees FY15 revenue growth in mid-single digits, consensus $57.78B
12:31 EDTINTCIntel raises annual dividend to 96c per share
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11:52 EDTINTCIntel CEO confirms organizational change made this week
The Wall Street Journal reported earlier this week that Intel has reorganized by combing its groups that handle personal computer chips with those used for smartphones and tablets, and Intel CEO Brian Krzanich confirmed the change during the company's investor day presentation.
11:32 EDTINTCIntel says high-end gaming segment among fastest growing in PCs
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10:35 EDTBBYOptions with decreasing implied volatility
Options with decreasing implied volatility: DKS SPLS WB GMCR VRX HTZ WSM VIPS BBY AMAT
09:36 EDTAAPL, GOOGActive equity options trading
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09:21 EDTBBYOn The Fly: Pre-market Movers
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08:58 EDTAAPLApple price target raised to $135 from $125 at Evercore ISI
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08:50 EDTBBYBest Buy says will evaluate cash position, potential buybacks after Q4
Best Buy says its knows how important that the matter of cash return is to investors, and that its use of cash will be evaluated after Q4, but also notes that its "number one priority" for its cash is investing in growth.
08:40 EDTBBYBest Buy says few stores not cash flow positive
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08:24 EDTBBYBest Buy cites strength in televisions, computing, tablets helping Q3 top-line
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08:16 EDTAAPLApple price target raised to $126 from $115 at Morgan Stanley
Morgan Stanley survey indicates investors are underestimating Apple iWatch demand. The firm is modeling 30M watches in CY15 vs. buy-side forecasts of 10M-12M. Ultimately, the analyst believes the wearable market will hit 530M in 2020 and potentially a 1B units in its bull case. Morgan Stanley raised CY15 EPS forecast to $8.40 from $8.20 on higher watch and ASP forecasts. Shares of Apple are Overweight rated.
07:52 EDTGOOGGoogle loss of Mozilla unlikely to have material impact, says Credit Suisse
Credit Suisse said Google's (GOOGL) loss of Mozilla as an affiliate to Yahoo (YHOO) will unlikely have a material impact on revenue and said EBITDA will only be impacted by .2%-.5%. Shares are Outperform rated with a $722 price target, down from $723 due to an error in a previous note.
07:05 EDTBBYBest Buy says internal, external factors could pressure operating income rate
CFO McCollam said "The sales trends we are seeing in our business as we enter the fourth quarter are encouraging from a top-line perspective. But to drive these results, similar to Q3, there are internal and external factors that we believe could put pressure on our operating income rate. The internal factors include: (1) the increased mix of faster growing, but lower-margin products in our revenue; (2) the potential impact of higher incentive compensation, particularly in our retail stores, based on our expected year-over-year improvement in performance; (3) higher growth in our lower-margin online channel; and (4) intensified investments in customer-facing initiatives. The external factors include: (1) an intensely promotional competitive environment; (2) a possible constraint in product availability in recent high-profile product launches; and (3) a potential supply chain disruption related to the West Coast port delays.”
07:04 EDTBBYBest Buy says total Renew Blue annualized cost reductions at $965M
Since its Q2 FY15 earnings release, Renew Blue annualized cost reductions have increased an additional $65 million, bringing the total Renew Blue annualized cost reductions to $965 million.
07:03 EDTBBYBest Buy sees Q4 revenue, SSS growth 'near-flat' y/y
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07:01 EDTBBYBest Buy reports Q3 continuing ops EPS 32c, consensus 25c
Reports Q3 revenue $9.38B, consensus $9.11B. Reports Q3 SSS up 2.2%.
06:48 EDTGOOGNetflix's Kelly Merryman to join YouTube, TechCrunch reports
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06:37 EDTAAPLGT Advanced creditors criticize proposed Apple settlement, Reuters says
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06:35 EDTBBYStocks with implied volatility above IV index mean; BBY GME
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06:28 EDTAAPL, MSFT, GOOGBillboard 200 chart to include on-demand streaming in rankings
The Billboard 200 albums chart will premiere its biggest upgrade in more than 23 years, transforming from a pure sales-based ranking to one measuring multi-metric consumption. Beginning with the top 10 revealed on Wednesday, Dec. 3, on Billboard.com, the chart, which currently tracks the top 200 albums of the week by sales alone, will be the first to include on-demand streaming and digital track sales -- as measured by Nielsen Entertainment (NLSN) -- by way of a new algorithm. It is the most substantial methodology update since May 1991, when Billboard first used Nielsen's point-of-sale data -- SoundScan -- to measure album sales. The updated Billboard 200 will utilize accepted industry benchmarks for digital and streaming data, equating 10 digital track sales from an album to one equivalent album sale, and 1,500 song streams from an album to one equivalent album sale. All of the major on-demand audio subscription services are considered, including Spotify, Beats Music (AAPL), Google Play (GOOG) and Xbox Music (MSFT). Reference Link
05:38 EDTAAPLApple price target raised to $135 from $120 at Piper Jaffray
Piper Jaffray analyst Gene Munster raised his price target for Apple shares to $135 from $120 after the firm's channel checks indicated that supply of the iPhone 6 and 6+ is "gradually improving vs. demand." Munster does not see risk to Apple's December quarter guidance as he believes the company factored supply constraints into its outlook. He thinks most consumers will wait to purchase an iPhone and maintains an Overweight rating on Apple. The stock closed yesterday down 80c to $114.67.
November 19, 2014
15:31 EDTBBYNotable companies reporting before tomorrow's open
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15:01 EDTBBYBest Buy technical comments before results
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14:59 EDTGOOGGoogle acquires iOS prototyping tool maker RelativeWave
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14:25 EDTAAPLOptions Update; November 14, 2014
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13:33 EDTBBYBest Buy November 36 straddle priced for 8.2% move into Q3
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12:56 EDTAAPLApple plans to bundle Beats with iOS next year, FT reports
Beginning early next year, Apple is planning to bundle the subscription music service acquired from Beats into iOS, the Financial Times reports. The move will make Beats available on hundreds of millions of Apple devices, including iPhones and iPads, and will put pressure on Spotify. Sources believe the paid-for Beats service could be included in an iOS software update as early as March. Reference Link
11:22 EDTGOOGGoogle to launch app store in China, The Information reports
Google intends to reverse its prior policy and distribute a version of its Google Play app store with phone makers and other potential partners in China, according to The Information, citing several people with knowledge of the company’s plans. Reference Link
10:54 EDTNVDANVIDIA discloses Samsung files patent infringement suit
NVIDIA (NVDA) disclosed in a regulatory filing that on November 10, Samsung (SSNLF) filed a complaint against NVIDIA and Velocity Micro, in the United States District Court for the Eastern District of Virginia. The complaint alleges that NVIDIA infringed six patents and falsely advertised that the Tegra K1 processor is the world’s fastest mobile processor. Samsung seeks unspecified damages and an injunction prohibiting NVIDIA from any future violations. NVIDIA has not yet responded to the complaint.
10:29 EDTGOOG, AAPL, INTCGoogle now top competitor to Apple, Jefferies says
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09:57 EDTGOOGGoogle management to meet with Piper Jaffray
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09:41 EDTAAPLRubicon Project to partner with Apple on programmatic advertising
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09:39 EDTAAPLActive equity options trading on open
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09:38 EDTGOOGCCS Insight predicts Netflix to be acquired next year, FT reports
CCS Insight, a U.K.-based technology research firm, is predicting that a major internet player such as Yahoo (YHOO), Alibaba (BABA) or Google (GOOG) will buy Netflix (NFLX) next year, reported Financial Times. Reference Link
08:02 EDTGOOG, AAPLApple's top competition is Google, says Jefferies
Jefferies calls Google (GOOG) Apple's (AAPL) top competition after its analysis indicated that the search engine giant provides the majority of most popular Consumer Cloud Services, which it believes are expanding penetration through Android, Chrome, iOS, Windows and other devices. By contrast, Apple's iCloud remains focused on iOS devices, Jefferies points out. It keeps a Hold rating on Apple shares, saying Google dominates as provider of the most popular services, including Search, Maps, Chrome, and YouTube. To reflect positive supply chain data points, Jefferies raised its FY15 earnings estimate for Apple to $8.52 to $8.01. It also upped its price target for Apple shares to $120 from $112. The stock closed yesterday up $1.48 to $115.47.
07:40 EDTMSFTUBS to hold a conference
Global Technology Conference to be held in Sausalito, California on November 18-20 with webcasted company presentations to begin on November 19 at 10:45 am; not all company presentations may be webcasted.Webcast Link
07:38 EDTMSFTMicrosoft U.S. suit against Samsung over royalties can proceed, Reuters reports
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07:26 EDTBBYBest Buy November volatility elevated into Q3 and holiday outlook
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07:19 EDTMSFTServer replacement seen coming as Microsoft ends 2003 support, DigiTimes says
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06:42 EDTAAPLiPhone 7 could include 'biggest camera jump ever,' TheTechBlock reports
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06:40 EDTAAPLSome iPhone 6 Plus users say rear camera doesn't focus, Business Insider reports
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06:31 EDTMSFTISS recommends invsetors vote against Microsoft CEO pay package, WSJ says
Institutional Shareholder Services, a proxy advisory firm, is recommending shareholders vote against the pay package for Microsoft CEO Satya Nadella in a nonbinding vote at the software company’s December annual meeting, The Wall Street Journal reports. ISS criticized a "mega" grant of restricted stock to Nadella, which the firm values at $65M, and said iti s "concerning" that Microsoft plans to grant Nadella additional shares annually. Reference Link
06:04 EDTAAPLApple to pay $23.6M to Mobile Telcommunictions in lawsuit, Re/code reports
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05:58 EDTBBYStocks with implied volatility above IV index mean; BBY SPLS
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05:15 EDTWMTWalmart to match competitors' Black Friday deals one week early
Walmart announced that for the second year, the retailer is lowering the prices on popular toys, electronics and more to match or beat select Black Friday offers from national competitors one week early. Walmart’s Pre-Black Friday Event begins Friday, Nov. 21 at 8:00 a.m. and also gives customers an early taste of Walmart’s Black Friday prices by moving up items typically found on Black Friday.
November 18, 2014
16:00 EDTAAPLOptions Update; November 18, 2014
iPath S&P 500 VIX Short-Term Futures down 48c to 28.09. Option volume leaders: AAPL TSLA TWTR KO PBR GILD according to Track Data.
15:02 EDTBBYBest Buy management to meet with Jefferies
Meeting to be held in Boston on November 25 hosted by Jefferies.
15:01 EDTBBYBest Buy management to meet with B. Riley
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12:49 EDTMSFTMicrosoft, Real Madrid announce alliance
Real Madrid C.F. and Microsoft have signed a landmark agreement accelerating the digital transformation of the club through technology. This alliance, through which Microsoft becomes the strategic technological partner of Real Madrid, will revolutionize the experience enjoyed by members and supporters of the club by providing digital services that are accessible anywhere, anytime and on a host of devices.
11:53 EDTAAPLSamsung to make foldable smartphone displays, ZDnet says
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11:50 EDTINTCIntel November volatility elevated into investor meeting
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10:55 EDTINTCIntel to host investor meeting
Investor meeting to be held in Santa Clara, CA on November 20 at 11 am. Webcast Link
09:32 EDTAAPLActive equity options trading according to Track Data: AAPLTSLA TWTR FB
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09:27 EDTGOOGGoogle's Q4 gross ad revenues tracking slightly ahead, says ITG Research
ITG Research said Google's Q4 gross ad revenue is tracking to $16.35B vs. consensus of $16.29B.
09:06 EDTINTCIntel to combine two groups in new 'Client Computing' unit, WSJ says
Intel plans to reorganize by combing its groups that handle personal computer chips with those used for smartphones and tablets, according to The Wall Street Journal, citing an email sent to employees by CEO Brian Krzanich. Intel’s changes are scheduled to go into effect in early 2015, the report noted. Reference Link
09:03 EDTWMTI.D. Systems receives three-year contract extension from Walmart
I.D. Systems (IDSY) has executed a three-year extension of its contract with Walmart Stores (WMT) to provide VeriWise trailer tracking and management services for Walmart's fleet of cargo trailers. The contract extension, which runs through October, 2017, has a maximum aggregate value of approximately $14M.
08:26 EDTAAPLApple Pay now available in all BI-LO, Harveys, Winn-Dixie grocery stores
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08:01 EDTAAPLApple price target raised to $130 from $115 at Oppenheimer
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07:16 EDTAAPLSamsung to produce APs for iPhones, iPads beginning in 2015, Korea Times reports
According to the Korea Times, sources say that Apple (AAPL) will outsource the bulk of its application processors manufacturing to Samsung (SSNLF) for iPhones and iPads starting in 2015. This agreement will cause Samsung to become a primary supplier of APs to Apple, moving Taiwan Semi (TSM) into second place. Reference Link
06:46 EDTMSFTMicrosoft could spin off Nokia MixRadio, TechCrunch reports
According to sources, Microsoft (MSFT) is considering spinning off Nokia MixRadio, the music streaming service it acquired as part of its takeover of Nokia's (NOK) Devices and Services unit, TechCrunch reports. Microsoft is reportedly seeking investors for Nokia MIxRadio, and the potential spin-off is said to be making "good progress." Reference Link
06:28 EDTAAPLNokia to launch Android tablet, FT reports
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06:10 EDTMSFTMicrosoft, Real Madrid to announce 'significant' partnership, Re/code reports
Microsoft is expected to today announce a "significant" tie-up with Real Madrid, a Spanish soccer team, Re/code reports. The partnership is likely to be a technology and sponsorship deal. Reference Link
06:08 EDTGOOG, INTCIntel's 'Mica' bracelet to feature Google alerts, AT&T data plan, Re/code says
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05:49 EDTMSFTStocks with implied volatility movement; MSFT UNG
Stocks with implied volatility movement; Microsoft (MSFT) 19, United States Natural Gas Fund (UNG) 57 according to iVolatility.
05:26 EDTWMTDisney Movies Anywhere now available through Walmart VUDU service
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November 17, 2014
16:00 EDTAAPLOptions Update; November 17, 2014
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15:45 EDTBBYBest Buy remains a top pick for the holiday season at BofA/Merrill
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12:02 EDTMSFTSAP names new Chief Digital Officer, Chief Marketing Officer
SAP (SAP) announced that Jonathan Becher has been appointed as the company's first Chief Digital Officer to lead the company's new digital business unit with immediate effect. SAP has appointed Maggie Chan Jones as Chief Marketing Officer. Jones, who will join SAP from Level 3 Communications (LVLT), spent seven years at Microsoft (MSFT). She has extensive cloud experience having successfully navigated Microsoft's transition from on premise to a cloud business.
11:14 EDTAAPLApple price target raised to $120 from $115 at RBC Capital
RBC Capital earlier increased its price target on Apple as the firm estimates that the company's watch will generate $10B in revenue and 40c in EPs in the first 12 months after it's released. The firm increased its FY15 sales estimates for the company by $6.5B and raised its FY15 EPS estimate by 24c. It keeps an Outperform rating on the shares.
09:36 EDTAAPLActive equity options trading
Active equity options trading according to Track Data: AAPL PBR BHI GILD MU HD AMZN TSLA YHOO FB TWTR
07:52 EDTNVDA, INTCDepartment of Energy awards $425M for supercomputing technologies
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07:39 EDTBBYBest Buy price target raised to $42 from $35 at Stifel
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07:05 EDTBBYBest Buy price target raised to $40 from $36 at RBC Capital
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06:23 EDTMSFT, GOOGFacebook working on 'Facebook at Work' website, FT reports
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06:10 EDTGOOGGoogle partners with Telstra to test Project Loon in Australia, SMH reports
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November 16, 2014
20:04 EDTAAPLApple: App Store adds UnionPay as payment option for customers in China
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November 14, 2014
17:13 EDTAAPLAppaloosa gives quarterly update on stakes
NEW STAKES: NXP Semiconductors (NXPI), Lorillard (LO), Alibaba (BABA), and Shire (SHPG). INCREASED STAKES: Whirlpool (WHR), Priceline (PCLN), Delta (DAL), CBS (CBS), and General Motors (GM). DECREASED STAKES: American Airlines (AAL), Disney (DIS), Apple (AAPL), MGM Resorts (MGM), and Eastman Chemical (EMN). LIQUIDATED STAKES: Expedia (EXPE), AIG (AIG), Prudential (PRU), Celanese (CE), and ASML Holding (ASML).
17:07 EDTBBY, GOOGSoros Fund Management gives quarterly update on stakes
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16:39 EDTWMTBerkshire Hathaway gives quarterly update on stakes
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16:26 EDTWMTNasdaq clear leader as major averages end week higher
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16:01 EDTAAPLOptions Update; November 14, 2014
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14:46 EDTWMTDisney movies service partnering with Wal-Mart's Vudu, Reuters reports
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11:48 EDTBBYStocks with call strike movement; GILD BBY
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10:49 EDTAAPLReport: iPhone 6 outselling iPhone 6 Plus 3-to-1 margin, Apple Insider says
Apple's iPhone 7 lineup is mostly driven by the 4.7-inch model, accounting for 68% of all iPhone sales, while the iPhone 6 Plus took between 23%-24%, reports Apple Insider. Citing a report from Consumer Intelligence Research Partners, the new iPhones represented 91% of total iPhone sales compared to the iPhone 5s and 5c accounting for 84% of total iPhone sales a year ago. Reference Link
10:00 EDTWMTOn The Fly: Analyst Downgrade Summary
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09:38 EDTAAPL, MSFTActive equity options trading
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09:18 EDTMSFTTyler Technologies signs contract with Ohio Police and Fire Pension Fund
Tyler Technologies (TYL) has signed a contract with the Ohio Police and Fire Pension Fund to implement Microsoft Dynamics AX, an enterprise resource planning solution with public sector functionality that Tyler Technologies jointly developed with Microsoft (MSFT). The contract includes related professional services, licensing, training and support.
09:05 EDTMSFTNPD says U.S. video game sales down 27% in October, Bloomberg reports
U.S. retail sales of video-game hardware and software in October were nearly flat compared to the same month of last year at $790.7M, according to NPD Group, which noted that game sales fell 27% and hardware sales increased 59%, reported Bloomberg. Publicly traded companies in the space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO). Game console makers include Microsoft (MSFT), Sony (SNE) and Nintendo (NTDOY). Reference Link
07:52 EDTAAPLIntegrated Device to benefit from wireless charging adoption, says Craig-Hallum
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07:37 EDTWMTWal-Mart price target raised to $91 from $83 at UBS
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07:36 EDTBBYBest Buy price target raised to $36 from $32 at UBS
UBS raised its price target on Best Buy to $36 from $32 ahead of its Q3 results. The firm sees a favorable near-term set-up, citing the company's cash balances, selection of premium products, and focused strategy of promotions deployment and expenses. UBS reiterates its Buy rating on Best Buy shares.
07:27 EDTWMTWal-Mart price target raised to $92 from $82 at BofA/Merrill
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07:05 EDTAAPLApple told FTC health data will be protected, Reuters reports
The U.S. Federal Trade Commission has asked Apple to prevent sensitive health data that will be collected by its devices from being used without users' consent, according to Reuters, which cited two unnamed sources. The tech giant has promised the FTC that it will not sell the data to third parties or allow developers to do so, the news service stated. Reference Link
06:54 EDTAAPLU.S.warns on vulnerability in Apple's iOS, Reuters reports
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06:49 EDTWMTWal-Mart downgraded to Underperform from Market Perform at BMO Capital
06:16 EDTAAPLEU says Starbucks tax deal in Netherlands may be illegal state aid, WSJ says
The European Union said the tax deal struck by Starbucks (SBUX) in the Netherlands amounts to illegal state aid, reports the Wall Street Journal. European Commission regulators said it reached a preliminary view that the tax deal violated guidelines produced by the Organization for Economic Cooperation and Development. It said the tax deal "tolerates questionable adjustments which allow Starbucks Manufacturing BV to lower the resulting corporate income tax basis in the Netherlands." The EU is also investigating tax arrangements of Apple (AAPL) in Ireland and Amazon (AMZN) and Fiat S.p.A. (FIATY) in Luxembourg. Reference Link
06:00 EDTGOOGGoogle to retire Google Wallet for digital goods API on March 2, 2015
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