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January 24, 2014
16:47 EDTHLF, IBM, NFLX, MSFT, JNPR, AAPLMarkets fall sharply on emerging market concerns
Stocks on Wall Street were lower, as the U.S. indexes had their worst week since 2012 as tepid economic data out of China and sharp declines in some emerging market currencies rattled investors. MACRO NEWS: In the U.S., reports on initial jobless claims, existing home sales and the leading economic indicators all came in roughly in-line with expectations. Markit's "flash" Purchasing Managers' Index dropped to 53.7 in the preliminary January reading. In China, the preliminary HSBC manufacturing PMI slipped below 50, indicating contraction in the sector, for the first time in six months. In Europe, a composite Eurozone PMI jumped more than a point from the prior month's reading, with both the underlying services PMI and manufacturing PMI beating forecasts. Several emerging market currencies hit multi-year lows, including the Argentinian peso, the Turkish lira, the South African rand and the Russian ruble. COMPANY NEWS: Technology stalwart's Microsoft (MSFT) and IBM (IBM) both reported quarterly earnings this week, with their reports sending shares in different directions. On Tuesday after the market close, IBM reported bottom-line earnings that beat expectations but revenues that fell short of estimates for the fourth straight quarter. During Wednesday's trading session, IBM fell 3.28% and closed the week down more than 5%. In contrast, Microsoft reported earnings last night that beat on the top and bottom lines, and reported strong sales of both its Surface tablet and Xbox gaming consoles, sending shares higher by a bit more than 2%... A number of Carl Icahn-related stocks were in the news this week, including Netflix (NFLX), one of Icahn's most profitable positions, which reported earnings that beat expectations, sending shares of the internet streaming video provider sharply higher to close the week up about 17%. In an interview with CNBC on Wednesday, Icahn was again critical of Apple's (AAPL) use of cash, and on Thursday Icahn disclosed on his Twitter account that he purchased additional shares of the iPhone maker, bringing his stake to $3.6B. Icahn also sent an open letter to Apple shareholders, calling for the company to repurchase $50B worth of stock in its fiscal 2014. Herbalife (HLF) shares fell more than 16% this week after Massachusetts Senator Ed Markey asked the SEC and FTC to investigate the multi-level marketer as a possible pyramid scheme. Icahn is long shares of Herbalife against Bill Ackman's public short of the company... Juniper Networks (JNPR) last night reported earnings and revenue that beat expectations and said it will announce a new operational plan shortly, an announcement that follows a presentation from activist investor Elliott Management earlier this month that urged the company to return capital to shareholders. Noted investor JANA Partners also backed Elliott's plan for efforts to unlock shareholder value at Juniper, and shares of Juniper finished the week up more than 6%. INDEXES: The Dow lost about 3.5% to close at 15,879.11; the S&P 500 lost 2.6% to close at 1,790.29; the Nasdaq lost 1.6% to close at 4,128.17.
News For MSFT;IBM;AAPL;NFLX;HLF;JNPR From The Last 14 Days
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September 21, 2015
13:31 EDTNFLXAfter Emmys, analyst sees 'growing threat' to established content creators
Netflix (NFLX), Time Warner (TWX), and Viacom (VIA) shares fell in midday trading following last night's Emmy Awards, while Amazon (AMZN) climbed. An analyst called the combined nominations for Netflix and Amazon a an indication that emerging over-the-top streaming services have become a "growing threat to the establishment." WHAT'S NEW: HBO, a Time Warner network, dominated the 67th Annual Emmy Awards, walking away with 43 awards overall, including 29 Creative Emmys, while Netflix won four awards, as did Viacom's Comedy Central. Amazon, meanwhile, achieved its first-ever Emmy wins with five total awards. Following HBO's performance at the annual awards show, Netflix Chief Executive Officer Reed Hastings tweeted: "Congrats @HBO on supporting so much Emmy-winning talent. Your leadership of great television is inspiring." Netflix was nominated for 34 awards, while Amazon was nominated for 12. STREET RESEARCH: Cantor Fitzgerald analyst Youssef Squali said that while Netflix's four Emmys this year was "somewhat disappointing" considering last year's seven, the service's performance at the awards show was "notable," particularly since the company has long been underestimated by bigger and more established content creators. Squali said that the combined 46 nominations for both Netflix and Amazon is a "clear indication" that emerging over-the-top streaming services have become a "growing threat to the establishment" and that it's "a matter of time" before such services begin to rival and possibly exceed their "linear cousins." The analyst sees Netflix gaining strong momentum heading into the second half of fiscal 2015 and 2016 and reiterated a Buy rating on the company's stock with a $125 price target. PRICE ACTION: Netflix shares are down 1.95% to $100.62 in afternoon trading. Meanwhile, Time Warner is down 0.29% to $69.44, Viacom is down 2.42% to $45.58, and Amazon is up 0.94% to $545.32.
12:55 EDTNFLXOn The Fly: Top stock stories at midday
Stocks began the session with a triple digit gain for the Dow and remained in a fairly narrow range for most of the morning. However, once the European markets closed, the U.S. averages weakened and are now struggling to remain in positive ground. ECONOMIC EVENTS: In the U.S., existing home sales fell 4.8% to a 5.31M rate in August, versus expectations for them to be down 1.6% to a rate of 5.5M. Over the weekend, three Federal Reserve officials, namely an Francisco Fed President John Williams, St. Louis Fed President James Bullard and Richmond Fed President Jeffrey Lacker, all argued that an interest-rate increase is still warranted this year. In Europe, Alexis Tsipras' Syriza party gained 35.5% of the vote in the Greek election. COMPANY NEWS: Shares of Volkswagen (VLKAY) trading in Germany plunged and the ADRs trading in New York dropped more than 17.5% after the EPA and California Air Resources Board detected manipulations that violate American environmental standards while testing Volkswagen diesel cars. The EPA said Volkswagen may face civil penalties of $37,500 for each vehicle not in compliance with federal clean air rules, which could total as much as $18B, according to Reuters... Time Warner's (TWX) HBO dominated the Emmy awards ceremony with 43 awards, including the 29 Creative Emmys it won last week. Meanwhile, Amazon (AMZN) earned its first-ever Emmy wins and Netflix (NFLX) CEO Reed Hastings, whose company won four awards, tweeted out: "Congrats @HBO on supporting so much Emmy-winning talent. Your leadership of great television is inspiring." MAJOR MOVERS: Among the notable gainers was Atmel (ATML), which jumped 12% after agreeing to be acquired by German chipmaker Dialog Semiconductor in a deal valued at approximately $4.6B, or the equivalent of $10.42 per Atmel share. Among the noteworthy losers was Mallinckrodt (MNK), which dropped 9% following the announcement that ANI Pharmaceuticals (ANIP) plans to acquire two new drug applications from Merck (MRK) that could compete with Acthar, Mallinckrodt's largest product. Also lower was uniQure (QURE), which fell 15% after announcing topline results of one-year follow-up data from a Phase I/II clinical trial in four Sanfilippo B syndrome patients. Both stocks were among the many big pharma and biotech decliners after Hillary Clinton, on the heels of a Wall Street Journal report detailing Turing Pharmaceuticals' price hike to $750 from $13.50 per pill of a drug that treats a life-threatening parasitic infection, vowed to lay out a plan tomorrow to take on what she calls "price gouging" of specialty drugs. INDEXES: Near midday, the Dow was up 38.57, or 0.24%, to 16,423.15, the Nasdaq was down 21.13, or 0.44%, to 4,806.10, and the S&P 500 was up 1.85, or 0.09%, to 1,959.88.
11:51 EDTNFLXStocks with call strike movement; TWTR NFLX
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11:14 EDTNFLXNetflix gaining momentum after last night's Emmy's, says Cantor
Netflix (NFLX) left last night's 67th Emmy Awards with four trophies and Amazon (AMZN) "a surprising" five, Cantor Fitzgerald analyst Youssef Squali points out in a research note to investors. Netflix's performance is "somewhat disappointing" relative to last year's seven emmys, but it's still a "notable performance" for an $8.99 per month service that started in 2012, Squali argues. The combined 46 nominations for Netflix and Amazon is a "clear indication" that over-the-top streaming services are a "growing threat to the establishment," Squali writes. The analyst views this phenomenon, coupled with solid reviews for Narcos, ongoing expansion throughout Asia and a recent price hike in major European markets as signs Netflix is seeing strong momentum into the second half of 2015. He reiterates a Buy rating on the stock with a $125 price target. Netflix is up 15c to $102.71 in late morning trading.
10:49 EDTAAPLGoPro falls after Barron's predicts 'dramatic' drop in share price
GoPro (GPRO) shares fell in morning trading after an article from Barron's argued that the company's share price may drop to as low as $25. WHAT'S NEW: Alexander Eule argued in a Barron's article that GoPro's stock price may see a "dramatic" slip of as much as 30% to $25 due to significant competitive pressure from Apple (AAPL), Sony (SNE) and others. Eule noted that the company's shares have crashed to a recent $35 after peaking at $98 in October 2014 and even called the mostly bullish analyst views on the camera maker's stock "wishful thinking." Additionally, Eule called the company's cameras a "one-product wonder" and compares them to BlackBerry (BBRY) smartphones and Palm digital organizers, which previously dominated their respective markets. The article adds that there is risk in being overly bearish on the company, since the "impressive" brand might become an acquisition target. WHAT'S NOTABLE: Last Wednesday, Citi analyst Jeremy David said that GoPro chief financial officer Jack Lazar confirmed at the bank's Global Tech Conference the week before that the Hero4 Session camera has been off to a slow start since its launch on July 12. David said that the recent selloff in the company's shares has been motivated by investor concerns about the Session. At the time, Citi cut its third quarter fiscal 2015 estimate for the company to $425M from $438M and fourth quarter estimate to $560M from $737M, $148M below consensus estimate at the time of $708M. David also said he was reducing estimates for the second half of fiscal 2015 and first quarter of fiscal 2016 as a result of downside from the Hero4 Session, but left estimates after 1Q16 unchanged, saying the long-term fundamentals of the company are "intact." The analyst added that his firm was "humbled" by the recent move in share price and acknowledged that GoPro is the "quintessential product cycle stock," though he said he remains bullish on the long-term prospects of the camera maker and reiterated a $90 price target. David argued that GoPro missing Q3 estimates and guiding below the consensus for Q4 is largely priced in. Separately, The Wall Street Journal said on September 13 that shares of GoPro were starting to look like a bargain after dropping 50% in a month. The company had a difficult time selling its Hero4 Session camera in July in the face of competition from older GoPro models, the publication added. PRICE ACTION: In morning trading, GoPro shares are down 5.15% to $33.34. OTHERS TO WATCH: Ambarella (AMBA), which supplies chips to GoPro, is down 3.7% to $68.81.
09:40 EDTAAPL, NFLXActive equity options trading on open
Active equity options trading on open: AAPL BAC ESV BABA FB NFLX TSLA TWTR GE GPRO JPM ONVO MU
09:17 EDTIBMIBM coverage assumed with a Neutral at Goldman
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09:14 EDTNFLXNetflix CEO congratulates HBO on Emmy dominance
Netflix (NFLX) CEO Reed Hastings tweeted out: "Congrats @HBO on supporting so much Emmy-winning talent. Your leadership of great television is inspiring." Time Warner's (TWX) HBO dominated the Emmy awards ceremony with 43 awards over all, including 29 Creative Emmys last week. Viacom's (VIA) Comedy Central, with four wins, was the network with the second-highest number of awards last night. Meanwhile, Hastings' won Netflix won four awards and Amazon (AMZN) earned its first-ever Emmy wins with two awards for its series "Transparent." Reference Link
08:31 EDTAAPLApple says iPhone 6s, iPhone 6s Plus to arrive on Friday, September 25
Apple announced iPhone 6s and iPhone 6s Plus will be available at 8:00 a.m. local time on Friday, September 25 at Apple's retail stores. Stores will have the new iPhones available for walk-in customers who are encouraged to arrive early. Both models will also be available on Friday from AT&T, Sprint, T-Mobile, Verizon Wireless, additional carriers and select Apple Authorized Resellers. Apple also announced the fastest iOS adoption ever, with more than 50 percent of devices already using iOS 9. Apple says "iPhone 6s and iPhone 6s Plus bring a powerful new dimension to iPhone's revolutionary Multi-Touch(TM) interface with 3D Touch, which senses how deeply you press the display, letting you do essential things more quickly and simply. The new iPhones introduce Live Photos, which bring still images to life, transforming instants frozen in time into unforgettable living memories. Live Photos, 3D Touch, 12-megapixel iSight camera, 5-megapixel FaceTime HD camera with Retina Flash and more are powered by the Apple-designed A9 chip, the most advanced chip ever in a smartphone, delivering faster performance and great battery life. iPhone 6s and iPhone 6s Plus are designed with the strongest glass on any smartphone and 7000 series aluminum, the same alloy used in the aerospace industry, in gorgeous metallic finishes that now include rose gold."
08:22 EDTAAPLApple survey suggests strong iPhone demand, says Baird
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07:43 EDTAAPLApple surveys indicate iPhone increasing high-end share, says Canaccord
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07:13 EDTMSFTMicrosoft Office 365, Azure momentum improving, says Pacific Crest
After speaking with 20 Microsoft resellers, Pacific Crest says that the momentum of the company's Office 365 and Azure is improving. The firm is now more confident that the company's Q1 results are on track. It keeps a $55 price target and Overweight rating on the shares.
06:34 EDTAAPLSamsung may be planning leasing program for Galaxy phones, Forbes reports
Samsung (SSNLF) is rumored to be planning to launch a leasing program for its Galaxy phones in the U.S., similar to the program Apple (AAPL) recently announced, Forbes reports, citing an industry executive with knowledge of Samsung's plans. According to the source, Samsung could launch the leasing program in the next few months. Apple's iPhone Upgrade Program encourages consumers to buy iPhones directly from the Apple Store instead of going through carriers, the publication notes. Publicly traded wireless carriers include AT&T (T), Verizon (VZ), Sprint (S) and T-Mobile US (TMUS). Reference Link
06:24 EDTAAPLFoxconn seeks to acquire Sharp's LCD business, Nikkei reports
Taiwan's Hon Hai Precision Industry, better known as Foxconn (HNHPF) has offered to buy Sharp's (SHCAY) struggling LCD business and plans to seek funding from Apple (AAPL), a key Sharp customer, The Nikkei reports. According to the report, Foxconn would take a majority stake in a LCD company spun off by Sharp, with Apple also making an investment. Reference Link
06:14 EDTMSFTSkype reports 'presence issues,' says working on fix
Skype says in an update, "Some of you may experience problems with Skype presence and may not see online. We have detected an issue with the status settings of Skype. Affected users will not be able to change their status, their contacts will all show as offline and they will be unable to start Skype calls to them. We're working on a fix for this issue and hope to have an update for you soon. Please accept our apologies for any inconvenience caused while we get this resolved." Reference Link
06:07 EDTMSFTMicrosoft cuts orders to supply chains for components, DigiTimes reports
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06:07 EDTAAPLApple hit by rare malware in China, Financial Times reports
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06:07 EDTAAPLApple meets with regulators to discuss self-driving cars, Financial Times says
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September 20, 2015
14:46 EDTAAPLCompany split may not end troubles at Hewlett-Packard, Barron's says
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12:49 EDTAAPLGoPro shares could fall another 30% to $25, Barron's says
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