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Stock Market & Financial Investment News

News For MSFT;HPQ;INTC;ACAD;FTNT;YUM;RAD;AMRS;BYD;ZUMZ;PIR From The Last 14 Days
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October 1, 2014
14:43 EDTHPQStocks held by Relational Investors slide after report of wind down
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13:52 EDTHPQ, YUMActivist firm Relational winding down, dissolving funds, WSJ says
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08:35 EDTMSFTMicrosoft struck right balance with Windows 10, says Cowen
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08:32 EDTHPQHP should be bought into analyst event, says Pacific Crest
Pacific Crest expects investors' focus to shift from M&A to HP's new product portfolio and improving enterprise prospects. The firm recommends buying the stock ahead of the company's Analyst Day next Wednesday, and it thinks the company's EPS could reach $4+ next year. It keeps a $40 price target and Outperform rating on the shares.
08:20 EDTPIRPier 1 Imports volatility elevated as shares trend lower
Pier 1 Imports October call option implied volatility is at 44, November is at 38, December is at 36; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement.
07:27 EDTHPQUBM Tech to hold a conference
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07:25 EDTPIRTelsey Advisory to hold a conference
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06:13 EDTINTCABI: Branded tablets to disappoint with 2.5% growth in 2014, DigiTimes says
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06:13 EDTMSFTHackers admit stealing data from Army, Microsoft, DOJ says
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September 30, 2014
14:05 EDTMSFTMicrosoft unveils Windows 10, technical preview available Oct. 1
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13:42 EDTMSFTMicrosoft says Windows 10 shipping 'later in the year' in 2015
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13:33 EDTMSFTMicrosoft says Windows 10 to support Windows 8 users with touch machines
This comment was taken from Microsoft's Windows event.
13:17 EDTMSFTMicrosoft Windows 10 restores the Start Menu
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13:16 EDTMSFTMicrosoft says Windows 10 to separate corporate, personal data
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13:10 EDTMSFTMicrosoft says Windows 10 to run on smart phones, tablets, laptops and PCs
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13:07 EDTMSFTMicrosoft announces new operating system, Windows 10
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11:10 EDTRADWalgreen slightly lower as pharmacy margin pressure continues
Shares of retail drugstore chain Walgreen (WAG) are down slightly after the company noted that it booked a non-cash loss of $866M in the fourth quarter and that it is continuing to endure pharmacy margin pressure. WHAT'S NEW: Walgreen reported Q4 adjusted EPS of 74c, which matched analysts' consensus. The company's Q4 revenue was $19.06B, which was only slightly higher than analysts $19.02B consensus. Customer traffic in Q4 comparable stores decreased 2.2% and basket size increased 3.5%, while total sales in comparable stores increased 5.4%. Walgreen said the quarter was negatively impacted by an $866M, or 90c per share, non-cash loss because it decided to exercise its option to buy the remaining stake in Alliance Boots early. In regards to its partnership with Alliance Boots, Walgreen said that it anticipates synergies of $650M in fiscal year 2015. Walgreen noted that it is moving forward with the implementation of its previously announced cost-reduction initiatives to achieve $1B in savings by the end of fiscal year 2017. The drugstore chain said that it will continue to work through pharmacy margin pressure. WHAT'S NOTABLE: During the company's conference call, Walgreen said that its generic drug inflation will be with the company "for awhile." The drugstore chain noted that inflation was the main headwind to pharmacy margins during the quarter. To combat this, Walgreen said it aims to focus on contracting strategy and will cut pharmacy costs by upping efficiencies. In terms of FY15, Walgreen said its tailwinds included an aging population, growth and chronic donations, new generics and consumerization of healthcare. The company says some headwinds during the quarter included reimbursement pressure, generic drug inflation, Medicare Part D Rate Step Down and the cautious consumer. The company anticipates closing the Alliance Boots partnership in calendar year 2015, as it works towards regulatory approvals and shareholder vote. Walgreen is looking to open an additional 1,000 stores to well-experience formats and foresees FY15 capital expenditures of $1.7B. First quarter interest expense is anticipated to be comparable to Q4 and Q1 tax rate of 30%. The company said that there won't be a material change in free cash flow in 2015. In August, Walgreen forecast fiscal year 2016 EPS of $4.25-$4.60 on revenue of $126B-$130B. At that time, Walgreen said the decision to buy the rest of Alliance Boots would not be an inversion transaction. The company previously said Timothy McLevish would succeed Wade Miquelon as executive vice president and Chief Financial Officer. PRICE ACTION: During morning trading, Walgreen fell 24c or 0.4%, to $59.36. Since its last earnings report, shares of the retail drugstore chain are down around 20%. OTHERS TO WATCH: Peers of Walgreen include Rite Aid (RAD), which is down 0.4% to $4.93, and CVS Health (CVS), which is relatively flat at $80.08.
10:02 EDTPIROn The Fly: Analyst Downgrade Summary
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09:19 EDTPIRPier 1 Imports downgraded at Wedbush
As noted earlier, Wedbush assumed coverage of Pier 1 with a Neutral from an Outperform. The firm thinks that consumers' switch to lower margin online products could cause the company's margins to come in below expectations in 2015. Target to $13 from $20.
09:16 EDTPIRPier 1 Imports downgraded to Neutral from Outperform at Wedbush
Wedbush assumed coverage of Pier 1 with a Neutral from an Outperform.
09:01 EDTMSFTAOL to program MSN experience with premium video and news
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08:32 EDTMSFTIron Mountain names Ted MacLean as Chief Marketing Officer
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06:34 EDTMSFTAnalyst says Xbox One hurt by high price in China, China Daily says
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06:01 EDTHPQHP launches first Moonshot servers with ARM chips
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September 29, 2014
13:21 EDTINTCIntel shares advance after analyst ups target to $43
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12:31 EDTINTCIntel hires Christopher Young as general manager of Intel Security
Intel (INTC) introduced cybersecurity executive Christopher Young as Intel’s newest senior vice president and general manager of Intel Security. Young will join Intel’s management committee and report to Intel President Renée James. Young comes to Intel from Cisco (CSCO), where he was senior vice president of the global Security and Government Group, responsible for strategy, engineering and product development for the company’s security product business.
11:01 EDTINTCIntel, Mitsubishi Electric announce collaboratoin to create automation systems
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09:37 EDTINTCActive equity options trading on open
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09:28 EDTMSFTMicrosoft expected to reveal Windows 9 at Tuesday's press event, BI reports
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07:59 EDTHPQHP acquisition of EMC makes sense, says UBS
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07:25 EDTHPQ, INTCOracle to hold a conference
Open World 2014 to be held in San Francisco on September 28-October 2.
07:23 EDTBYDUBS & Deutsche Bank to co-host a forum
Gaming Investment Forum to be held in Las Vegas on September 29-30 with webcasted company presentations to begin on September 29 at 12 pm; not all company presentations may be webcasted. Webcast Link
07:15 EDTINTCNational Association of Business Economics to hold annual meeting
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07:11 EDTHPQJudge questions HP stakeholder agreement in Autonomy situation, Reuters says
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06:31 EDTMSFTMicrosoft to open flagship store on Fifth Avenue in NYC, WSJ reports
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06:23 EDTMSFTMicrosoft to release inexpensive notebook solution in 2015, DigiTimes reports
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06:15 EDTINTCIntel price target raised to $43 from $36 at BofA/Merrill
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September 28, 2014
20:10 EDTHPQEMC buyout rumors could be good for VMware, Barron's says
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19:53 EDTMSFTMicrosoft's CEO vows to fully cooperate in China's antitrust probe, Reuters says
Satya Nadella, the Microsoft CEO, has vowed to fully cooperate with Chinese regulators in their antitrust probe of the company, Reuters says. Reference Link
September 26, 2014
11:00 EDTINTCIntel alliance to cut mobile losses 'significantly', says Wells Fargo
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09:33 EDTBYDNevada reports August statewide gaming win down 3.66% to $920.29M
Nevada reports August Las Vegas Strip gaming win down 6.08% to $553.19M. Publicly traded companies in the space include Boyd Gaming (BYD), Caesar's (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
08:01 EDTMSFTMicrosoft, 21Vianet announce Windows Azure services WebDirect payment in China
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06:39 EDTFTNTMost connected devices have security flaw, NY Times says
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05:27 EDTINTCIntel to invest up to $1.5B in semiconductor business under Tsinghua Unigroup
Intel Corporation and Tsinghua Unigroup, an operating subsidiary of Tsinghua Holdings, a solely state-owned limited liability corporation funded by Tsinghua University in China, jointly announced that both parties have signed a series of agreements. The purpose of the agreements is to expand the product offerings and adoption for Intel-based mobile devices in China and worldwide by jointly developing Intel Architecture and communications-based solutions for mobile phones. Intel also has agreed to invest up to about $1.5M for a minority stake of approximately 20% of the holding company under Tsinghua Unigroup which will own Spreadtrum Communications and RDA Microelectronics, subject to regulatory approvals and other closing conditions. Under the terms of the agreement, Spreadtrum Communications, Inc. will jointly create and sell a family of Intel Architecture-based system-on-chips, or SoCs. Initial products will be available beginning in the second half of next year and will be Intel Architecture-based SoCs sold by both companies. The companies expect Intel’s investment to close in early 2015.
September 25, 2014
07:33 EDTHPQCanadian government could ban HP as supplier for 10 years, Globe and Mail says
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07:30 EDTHPQCalPERS asks judge to reject HP settlement regarding Autonomy, Reuters says
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06:07 EDTMSFTGlobal tablet sales momentum to slow down in 2015, DigiTimes reports
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06:02 EDTRADStocks with implied volatility movement; RAD WLT
Stocks with implied volatility movement; Rite Aid (RAD) 59, Walter Energy (WLT) 131 according to iVolatility.
September 24, 2014
11:04 EDTRAD, PIROptions with decreasing implied volatility
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11:00 EDTPIRBed Bath & Beyond climbs after Q2 earnings beat expectations
Shares of home decor retailer Bed Bath & Beyond (BBBY) are rising after the company's second quarter earnings per share and revenue surpassed analysts' consensus estimates. WHAT'S NEW: Bed Bath & Beyond's Q2 EPS was $1.17, which was 3c higher than analysts' consensus. The company's Q2 revenue of $2.95B topped analysts' consensus of $2.89B. Same-store-sales for the quarter were up approximately 3.4%. The retailer sees Q3 EPS in the range of $1.17-$1.21, compared with analysts' consensus view of $1.20. Bed Bath & Beyond expects fiscal year 2014 EPS to be between $5.00-$5.08, compared to analysts' view of $5.03. WHAT'S NOTABLE: During the company's conference call, Bed Bath & Beyond said that it was investing "significantly" in its business. It expects FY14 capital expenditures of approximately $350M. The retailer is opening a new distribution facility and is working on a new point of sale system. Bed Bath & Beyond said it is "cautiously optimistic" on its balance for the rest of the year. Next quarter, the company is expecting SSS growth of 2%-3%, and for Q4 it foresees 4%-5% of same-store growth. ANALYST REACTION: Yesterday morning, prior to the release of Bed Bath and Beyond's Q2 earnings report, William Blair analyst Daniel Hofkin downgraded the stock to Market Perform from Outperform. Hofkin cited his continued worries regarding the retailer's above-average exposure to e-commerce competitors. He feels that Bed Bath & Beyond waited too long before developing a strong multichannel platform and that competition from other e-commerce rivals will continue accumulating. He noted that while the company's price premium relative to Amazon (AMZN) has gotten smaller in the past few years, it still is material. Today, UBS analyst Michael Lasser raised his price target on the stock to $68 from $62 after Bed Bath & Beyond reported sales that surpassed expectations. Still, he felt that the good sales numbers occurred at the expense of its margin. He expects the retailer's operating margin decrease to impact the company's PE multiple. Lasser believes that the retailer's Q3 and Q4 comp outlook could be "aggressive," but he noted that he won't have much of an idea about those numbers until early January. He keeps a Neutral rating on the stock. OTHERS TO WATCH: Other companies in the home furnishings space include Williams Sonoma (WSM), Pier 1 Imports (PIR) and Restoration Hardware (RH). PRICE ACTION: During morning trading, Bed Bath & Beyond rose $3.99, or 6.4%, to $66.68.
09:34 EDTRADActive equity options trading on open
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09:17 EDTINTCIntel rumored to take 20% stake in Spreadtrum, Marbridge Daily says
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September 23, 2014
10:17 EDTAMRSAmyris rises after reporting KLM plans use of renewable jet fuel
Shares of Amyris (AMRS) are rising in early trading after the company stated on its corporate Twitter account last night that KLM intends to use a renewable jet fuel from Amyris and Total (TOT). Shares of Amyris are up 4% to $4.10 in early trading following last night's Tweet from the company. Reference Link
09:03 EDTHPQ, HPQEMC would be a good fit for Hewlett-Packard , says CLSA
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08:45 EDTBYDBofA/Merrill China and U.S. auto analysts hold analyst/industry conference call
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08:38 EDTMSFTePlus becomes authorized Surface reseller in Microsoft Devices Program
ePlus (PLUS) announced that its subsidiary, ePlus Technology, has joined an exclusive group of partners in the Microsoft Devices Program (MSFT), which allows customers to purchase Surface through authorized resellers. In addition to offering Microsoft's extended warranty and accidental damage, ePlus brings a variety of value-added services to the Surface family, including asset tagging, custom imaging, kitting, onsite service and support, device recycling, and data protection.
08:16 EDTHPQBloomberg Government to hold a briefing
Briefing provides an update on the United Nation’s Millennium Development Goals within their corporate strategies. Participants include Vice President Glazer of Hewlett-Packard and Vice President Veiga-Pestana of Unilever in the briefing being held in New York on September 23 at 5 pm.
08:02 EDTHPQHP announces new emission reduction goal of 40% by 2020
HP announced a goal to reduce the emissions intensity of its product portfolio by 40% percent by 2020 compared to 2010 levels. With this announcement, HP becomes the only global IT company to have set carbon reduction goals for all three parts of its value chain .
07:49 EDTMSFTMicrosoft to launch Xbox One console in China on September 29, Reuters says
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07:19 EDTHPQEMC's end game is a marriage with Cisco, says Macquarie
Macquarie views EMC's (EMC) merger talks with Hewlett-Packard (HPQ) as a "ploy" to bring Cisco (CSCO) to the bargaining table. The analyst is not surprised by reports that EMC's discussions with Hewlett-Packard stalled given the lack of synergies and views Cisco as a logical buyer due to strong synergies and defensive reasons. Macquarie said VMware (VMW) would make Cisco the leader in the growing Software Defined DataCenter market, allowing it to offer EMC a better deal than any other potential acquirer. Finally, the firm does not view the status-quo as a compelling option for EMC given the recent share strength, aggressive street estimates, and the upcoming retirement of Joe Tucci in February. Macquarie rates EMC a Neutral with a $32 price target, up from $28.
06:33 EDTHPQHP was primarily interested in EMC's VMware stake, Re/code reports
HP (HPQ) was interested in merging with EMC (EMC) primarily due to the latter company's 80% stake in VMware (VMW), according to Re/code, which cited unnamed sources. The deal discussed between HP and EMC was an all-stock transaction that would have created a combined company worth about $130B, Re/code stated. Reference Link
06:00 EDTMSFTFacebook expected to launch new advertising platform, WSJ reports
This week, Facebook (FB) will introduce Atlas, a new advertising platform to improve effectiveness of online ads, the Wall Street Journal reports, citing people familiar with the matter. Atlas is a re-engineered version of the Atlas Advertiser Suite Facebook acquired in 2013 from Microsoft (MSFT). Facebook is looking to challenge Google (GOOG) in the online ad space. Reference Link
September 22, 2014
12:52 EDTINTCIntel receives approval from Israel to invest $6B in chip plant, Reuters says
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12:50 EDTHPQEMC jumps after reports detail takeover talks
The shares of cloud application provider EMC (EMC) are rising in a down market after Wall Street Journal reported that the company had held talks about selling itself to HP (HPQ) and Dell. WHAT'S NEW: EMC held on-and-off merger talks with HP for almost a year, but those talks have ended, Wall Street Journal reported today. Dell also held talks with EMC about a takeover, the newspaper added. According to a CNBC’s David Faber, the takeover talks between HP and EMC went on for months, but the two sides couldn't agree on a price, as EMC wanted HP to pay a large premium to its stock price. Tiernan Ray of Barron's added today that the takeover talks between the companies could resume, citing a source. WHAT'S NOTABLE: The New York Post reported on September 11 that EMC was considering selling its 80% stake in cloud computing infrastructure provider VMware (VMW). UBS analyst Steven Milunovich responded to The Post's report by writing on the same day that EMC had become a potential takeover target itself. HP, Oracle (ORCL) and Cisco (CSCO) could buy EMC, the analyst wrote. PRICE ACTION: In early afternoon trading, EMC added 1% to $30, while VMware added 1% to $95.
12:26 EDTHPQEMC, HP merger talks could resume, Barron's reports
The merger talks between EMC (EMC) and HP (HPQ) could resume, Tiernan Ray of Barron's reports, citing a source. The companies had discussed HP selling its printer division, but only as "a down the road thing," once a deal was completed, Tiernan added, citing the source. Cisco (CSCO) and Oracle (ORCL) are still considered possible buyers for EMC, the reporter noted. Reference Link
09:38 EDTHPQActive equity options trading on open
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09:20 EDTHPQEMC wanted large premium from HP in takeover, CNBC reports
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09:17 EDTHPQHP considered spinning off Printing, PC units, CNBC reports
09:16 EDTHPQEMC wanted large premium from HP, talks have ended, CNBC reports
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09:15 EDTHPQOn The Fly: Pre-market Movers
HIGHER: Sigma-Aldrich (SIAL), up 34% after Merck KGaA (MKGAY) to acquire the company for $17B... Viasystems (VIAS), up 44% after TTM Technologies (TTMI) acquires the company for $16.46 per share in cash and stock. TTM is up 15.5% after the deal... Clorox (CLX), up 5.4% after the New York Post said the company turned down offer to sell or merge with rival... EMC (EMC), up 2.5% after The Wall Street Journal said the company is considering options that could include merging with a rival and held on-and-off merger talks with Hewlett-Packard (HPQ) for almost a year, though the Journal added that those talks recently ended... Epiq Systems (EPIQ), up 9.9% after P2 Capital confirms 16.9% stake in Epiq and that the company turned down the shareholders' $20 per share takeover offer... Dresser-Rand (DRC), up 2.7% after the company sells to Siemens (SIEGY) for $83 per share or $7.6B... TAT Technologies (TATT), up 6.6% after a division of the company signed a maintenance agreement with Republic Airways (RJET). LOWER: Yahoo (YHOO), down 2.1% after stock was downgraded at Bank of America Merrill Lynch and at Bernstein... InvenSense (INVN), down 2.9% after downgraded at RW Baird... Threshold Pharmaceuticals (THLD), down 5.6% after TH-302 Phase 3 trial events to occur later than expected.
09:15 EDTMSFTAmazon's Iain Kennedy leaves company for Microsoft, Re/code reports
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06:27 EDTINTCIntel, Rockhip partner to expand x86 presence in tablet market, DigiTimes says
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06:11 EDTHPQEMC explores merger, holds talks with HP, Dell, WSJ reports
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September 21, 2014
12:31 EDTMSFTMicrosoft delays China launch of its Xbox One console, Reuters says
Microsoft announced that it has delayed the launch of its Xbox One game console in China, says Reuters. Microsoft, which has recently faced setbacks in China related to anti-trust probe involving its Windows operating system and Microsoft Office, said that it will launch the Xbox One game console in China by the end of the year, added Reuters. Reference Link
September 19, 2014
17:18 EDTPIRPoint72 Asset reports 5.0% passive stake in Pier 1 Imports
16:24 EDTPIR, RAD, INTCStocks rise after Fed keeps pledge for 'considerable time' before rate hike
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16:17 EDTINTCOn The Fly: Closing Wrap
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11:51 EDTINTC, MSFTMicrosoft, Intel look to partner with Chinese mobile device makers, Nikkei says
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11:34 EDTMSFTRed Hat falls after Q3 outlook trails consensus
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10:48 EDTMSFTOracle tumbles after Q1 earnings miss estimates, Ellison steps aside as CEO
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08:53 EDTMSFTMicrosoft CEO to visit China, China Daily says
Microsoft CEO Satya Nadella is set to visit Beijing next week, according to China Daily. Nadella's visit comes as China conducts an anti-trust probe of the tech giant. The CEO is likely to visit high-ranking Chinese officials during his time in the country ,the newspaper added. Reference Link
07:42 EDTINTCIntel dividend can rise up to 45% over next two years, says Jefferies
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07:19 EDTHPQNew America Foundation to hold a discussion
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September 18, 2014
16:27 EDTPIROn The Fly: Closing Wrap
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16:00 EDTRADOptions Update; September 18, 2014
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13:47 EDTYUMPizza Hut opens first restaurant in Africa, plans to open dozens more
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12:45 EDTRAD, PIROn The Fly: Midday Wrap
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12:44 EDTMSFTMicrosoft laying off 2,100 employees today, company tells CNBC
12:37 EDTMSFTMicrosoft lays off 2,100 employees, Seattle Times reports
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12:12 EDTPIRStocks with call strike movement; PIR GILD
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11:55 EDTRADRite Aid falls as drugstore chain trims FY15 view
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10:40 EDTPIRPier 1 Imports falls to 12-month low after weak Q2, lowered outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a 12-month low after the company's second quarter results fell below analysts' consensus estimates and it reduced its fiscal 2015 earnings per share outlook. WHAT'S NEW: Pier 1 Imports reported Q2 EPS of 10c on revenue of $418.6M, missing analysts' consensus estimates of 14c and $426.02M, respectively. Same-store-sales for the quarter were up 4.5%. The retailer lowered its FY15 EPS outlook to 95c-$1.05 from $1.14-$1.22. Analysts' consensus estimates for FY15 EPS prior to the earnings report was $1.13. The company sees FY15 SSS in the mid-to-high single digits and gross profit, as a percentage of sales, are expected to be 40.5%-41.5%. Pier 1 Imports CEO Alex Smith said that he foresees online sales to surpass $400M in 2016. WHAT'S NOTABLE: During the company's conference call, Pier 1 Imports said that it expects to see improving merchandise margins in coming quarters with fewer coupons. The company noted plans to continue returning cash to shareholders in the form of dividends and share buybacks. ANALYST REACTION: This morning, Wells Fargo analyst Matt Neemer downgraded Pier 1 Imports to Market Perform from Outperform. He feels that the stock will be a difficult one to own in the medium term as the retailer moves towards a multi-channel approach. Neemer believes that the company has a difficult journey ahead as it cuts broad-based discounters, and he feels that consumers will take time to get accustomed to the new messaging. He cut his price target range to $15-$16 from $19-$20 for the company. Barclays analyst Alan Rifkin downgraded Pier 1 Imports to Equal Weight from Overweight due to slow revenue growth and heightened promotions. He feels that that the "soft" revenues could continue. He believes that the company's elongated online profitability pipeline and increased promotions are certain to be a burden on the business in ways that the company had not initially thought. Rifkin said that growing the top line will be even harder in the absence of promotions. He reduced his price target for shares to $14 from $18. Argus analyst Christopher Graja downgraded Pier 1 Imports to Hold from Buy due to the company's lower than anticipated Q2 earnings. He feels that in terms of the home furnishings market, companies such as Williams-Sonoma (WSM), Home Depot (HD) and Lowe's (LOW) are more "resilient" for shareholders. Pier 1 Imports was also downgraded to Hold from Buy at BB&T. PRICE ACTION: In morning trading, Pier 1 Imports fell $2.63, or 16.99%, to $12.90. Including today's pull back, the stock is down approximately 45.2% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
10:34 EDTPIRPier 1 Imports downgraded to Perform from Outperform at Oppenheimer
Note this is the fifth downgrade of the day.
10:34 EDTPIRHigh option volume stocks
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10:27 EDTRADOptions with decreasing implied volatility
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10:00 EDTPIROn The Fly: Analyst Downgrade Summary
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09:48 EDTPIRPier 1 Imports tumbles after results, levels to watch
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09:36 EDTRAD, PIRActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL YHOO TWTR VVUS RAD PWE WFM TSLA PIR SHLD
09:24 EDTPIRPier 1 Imports downgraded to Hold from Buy at BB&T
Note this is the fourth downgrade of the day.
09:15 EDTRADRite Aid remains 'optimistic' about FY16
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09:02 EDTRADRite Aid sees current competitive enviornment to remain promotional in FY15
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08:59 EDTPIR, RADOn The Fly: Pre-market Movers
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07:52 EDTYUMPizza Hut testing 30% lower calorie pie, USA Today reports
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07:35 EDTPIRPier 1 Imports downgraded to Hold from Buy at Argus
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07:04 EDTRADRite Aid cuts FY15 EPS view to 22c-33c, consensus 34c
Based upon current estimates for reimbursement rates and anticipated lower profitability from new generics and generic drugs that recently lost exclusivity, the company is expecting decreases in pharmacy margin in the second half of Fiscal 2015 as compared to its prior estimates and therefore is lowering its guidance for Adjusted EBITDA, net income and net income per diluted share. Previous EPS view was 30c-40c. Cuts FY15 high end of revenue view to $26B-$26.3B from $26B-$26.5B, consensus $26.29B. Now sees FY SSS up 3%-4% over FY14. Sees FY CapEx $525M. Sees adjusted EBITDA $1.2B-$1.275B.
07:02 EDTRADRite Aid reports Q2 EPS 13c, consensus 6c
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06:50 EDTINTCIntel, Spreadtrum may enter partnership to develop x86 products, DigiTimes says
Intel is looking to promote x86 architecture to China chip designers and may enter a partnership with Spreadtrum, reports DigiTimes Research. The cooperation would allow Intel to fill some of its empty capacity while Spreadtrum would gain advantages from Intel's advanced manufacturing processes to reduce costs. Reference Link
05:34 EDTMSFTInfosys expands partnership with Microsoft
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05:25 EDTPIRPier 1 Imports downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Pier 1 Imports to Equal Weight citing accelerating expenses and slower revenue growth following the company's Q2 earnings report. The firm lowered its price target for shares to $14 from $18. Pier 1 was also downgraded this morning at Wells Fargo.
05:23 EDTPIRPier 1 Imports downgraded to Market Perform from Outperform at Wells Fargo
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