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Stock Market & Financial Investment News

News For MSFT;INTC;AAPL From The Last 14 Days
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July 22, 2014
18:34 EDTMSFTMicrosoft reverses after Q4 earnings call, now trading up 1.4%
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18:33 EDTMSFT, AAPLOn The Fly: After Hours Movers
UP AFTER EARNINGS: Broadcom (BRCM), consensus up 3% after reporting second quarter results... Intuitive Surgical (ISRG), up 10.4%... Manhattan Associates (MANH), up 3%... Robert Half International (RHI), up 3.9%... Hawaiian Holdings (HA), up 3.1%... Microsoft (MSFT), up just under 1%... FMC Technologies (FTI), up 1.1%. ALSO HIGHER: Ballard Power Systems (BLDP), up 2.7% following purchase order from New Flyer Industries... Unwired Planet (UPIP), up 2.4% after filing a lawsuit against Microsoft for breach of contract. NOTABLE: Puma Biotechnology (PBYI), up 193.8% after reporting positive top line results from Phase III PB272 trial. DOWN AFTER EARNINGS: Xilinx (XLNX), down 8.7%... Apple (AAPL), down after reporting third quarter results and fourth quarter guidance... Juniper Networks (JNPR), down 4.7%... ALSO LOWER: Farmland Partners (FPI), down 3.8% after filing to sell 3.72M shares of common stock.
18:27 EDTMSFTMicrosoft says demand weak in China, unlikely to change soon
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18:10 EDTAAPLApple guidance suggests Sept. 26 iPhone launch, says Piper Jaffray
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18:03 EDTMSFTMicrosoft sees FY15 OpEx $34.2B-$34.6B
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17:31 EDTAAPLApple sees business as a catalyst for iPad sales
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17:12 EDTAAPLApple says iPad sales were 'gated' by channel inventory, market softness
Comment made on Q2 earnings conference call.
16:57 EDTMSFTUnwired Planet files suit against Microsoft
Unwired Planet (UPIP) announced that it has sued Microsoft (MSFT) for breach of contract and declaratory judgment in the U.S. district court of Delaware. This action relates to the licensing agreement the two companies entered into in September 2011. "Microsoft owes Unwired Planet licensing fees under a previous agreement,” stated Phil Vachon, chairman of Unwired Planet. The complaint was filed under seal in order to protect the confidentiality of certain terms of the parties’ agreement.
16:35 EDTAAPLApple shares up 17c to $94.89 following Q3 results
16:34 EDTAAPLApple CEO says 'strong' sales of iPhone, Mac in Q3
Apple CEO Tim Cook said, "“Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters. We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce."
16:33 EDTAAPLApple sold 35.2M iPhones in Q3
Apple sold 13.28M iPads in Q3, 4.4M Macs, and 2.93M iPods.
16:32 EDTAAPLApple reports Q3 gross margin 39.4% vs. 36.9% last year
International sales accounted for 59% of the quarter's revenue.
16:31 EDTAAPLApple sees Q4 revenue $37B-$40B, consensus $40.44B
Sees Q4 gross margin between 37%-38%.
16:30 EDTMSFTMicrosoft sold 1.1M XBox consoles in Q4
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16:30 EDTAAPLApple reports Q3 EPS $1.28, consensus $1.23
Reports Q3 revenue $37.4B, consensus $37.99B.
16:11 EDTMSFTMicrosoft CEO says cloud revenue doubled to $4.4B run rate
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16:07 EDTMSFTMicrosoft reports Q4 commercial revenue grew 11% to $13.48B
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16:06 EDTMSFTMicrosoft reports Q4 devices and consumer revenue up 42% to $10B
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16:03 EDTMSFTMicrosoft reports Q4 EPS 55c, consensus 60c
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16:00 EDTAAPLOptions Update; July 22, 2014
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15:32 EDTMSFTMicrosoft technical notes before earnings
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15:30 EDTMSFT, AAPLNotable companies reporting after market close
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15:24 EDTMSFTMicrosoft July weekly 45 straddle priced for 4.1% move into Q4
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15:12 EDTAAPLApple July weekly 94.64 straddle priced for 4.6% move into Q2
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15:07 EDTMSFTEarnings Preview: Microsoft to report after Nadella makes big job cuts
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13:18 EDTAAPLEarnings Preview: Apple reports after stock split, Beats purchase, iOS 8 launch
Apple (AAPL) is set to report third quarter earnings after the market close on Tuesday, July 22, with a conference call scheduled for 5:00 pm ET. Apple, the world's most valuable company by market capitalization, is the manufacturer of the iPhone and iPad, among other desktop and mobile computing devices. EXPECTATIONS: Analysts are looking for earnings per share of $1.23 on revenue of $37.99B, according to First Call. The consensus range for EPS is $1.14-$1.37 on revenue of $36.58B-$40.31B. In a note to investors, Piper Jaffray analyst Gene Munster said Street analysts expect year-over-year iPhone sales growth of 14% to 35M-36M units, flat iPad sales of 14M-15M units, and a Q3 gross margin of 38%. Munster added that he expects Apple to guide Q4 revenues to $39B-$41B, which is in keeping with Street estimates for about $40.4B in Q4 revenue. LAST QUARTER: Apple reported second quarter EPS of $11.62 on revenue of $45.6B, which topped estimates for $10.18 and $43.5B, respectively. Apple reported iPhones sales of 43.7M units, iPad sales of 16.35M units and Mac sales of 4.14M. Apple said it sees Q3 revenue of $36B-$38B and a gross margin of 37%-38%. Along with its Q2 report, Apple announced a seven-for-one stock split. Apple also announced that its board raised its share repurchase authorization to $90B from the $60B level announced last year and an increase to the company’s quarterly dividend of approximately 8% to $3.29 per common share. NEWS: On May 28, Apple confirmed that it agreed to buy Beats Music, which operates a streaming music service, and Beats Electronics, which makes and sells electronic music products such as headphones and speakers, for $3B. As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple. Apple said at that time that it expects the transaction to close in Q4. On June 2, Apple announced OS X Yosemite, a new version of OS X redesigned and refined with a new look, new apps and new continuity features. Apple also unveiled iOS 8, a new version of its mobile operating system with new features for users and developers. Among the features were iCloud Photo Library, which allows user to enjoy photos and videos more easily across devices, new Messages features to easily share voice, video or photos, and a new Health app. Apple noted that the software development kit, or SDK, for iOS 8 was its "biggest developer release ever," with more than 4,000 new APIs. Apple and IBM announced last week that they would collaborate to provide mobile solutions for businesses. Under the deal, the companies will develop more than 100 enterprise solutions, including native apps, for Apple's iPhone and iPads. Moreover, IBM will sell iPhone and iPads to all of its business clients around the world, the companies noted. Also last week, Apple announced that Susan Wagner, founding partner and director of BlackRock (BLK), has been elected to Apple's board and that Bill Campbell, the board’s longest-serving member, is retiring after 17 years of service. Mac Rumors reported on July 10 that Apple was said to have ordered 68M iPhone 6 devices, citing a report in Taiwan's Business Weekly. That's double the amount of phones that the tech giant ordered prior to launching the iPhone 5 in 2012, the tech blog noted. The Wall Street Journal subsequently claimed that Apple has asked its suppliers to manufacture between 70M-80M of its two upcoming large-screen iPhones by the end of the year. ANALYST OPINION: On the day after Apple's last quarterly report, CLSA upgraded its rating on the shares to Buy from Outperform. On May 9, ISI Group downgraded Apple to Buy from Strong Buy, citing valuation. On June 2, following Apple's launch event for iOS 8, Piper Jaffray said it believed parts of Apple's new operating system point towards a possible iWatch later in the year and potential connected home products in the future. Piper said at that time that Apple remains on track to deliver multiple new product categories by the end of 2014. On June 17, Societe Generale upgraded Apple to Buy from Hold. On July 14, Barclays raised its rating on Apple to Overweight from Equal Weight, citing its channel checks that indicated near-term upside to consensus estimates. The firm also believes troubles at Samsung are creating an opportunity for Apple to regain market share and raised its price target for Apple shares to $110 from $95. The same day, Morgan Stanley said its survey results suggest June quarter iPhone demand upside. The firm raised its iPhone unit estimate to 36M from 34M and increased its EPS estimate to $1.24. Morgan Stanley increased it price target on Apple to $110 per share. Yesterday, JMP Securities upgraded Apple to Outperform from Market Perform, as the firm thinks the company is poised to report higher than expected sales and gross margins over the near-term and intermediate term. JMP set a price target of $135 on the stock. In his note previewing Apple's quarter, Munster wrote that Apple's guidance for its September-end quarter should tell investors if new iPhones are launching in September or later in the year. The Piper analyst expects a typical September launch, which could give the company 5 or 12 days of sales with the new phone depending on a standard Friday launch and its timing. Munster estimated the potential 7 day swing in the timing of the new phone could mean a 3M-4M unit and about $2B difference in the guidance for Q4, citing recent weekly run-rates for iPhone sales near launch quarters. PRICE ACTION: Each Apple shareholder of record at the close of business on June 2 received six additional shares for every share held on the record date and trading began on a split-adjusted basis on June 9. Shares of Apple advanced about 8% on the first day of trade following its Q2 report. Since the first day of trade following its last quarterly report, shares of Apple are up nearly 26%. In early afternoon trading ahead of its Q3 report tonight, Apple was up fractionally to just over $94 per share.
12:53 EDTINTCApplied Materials drops following report of opposition to merger
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10:51 EDTAAPLApple technical comments ahead of earnings
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10:30 EDTAAPLApple July weekly volatility increases into Q3
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10:01 EDTAAPLPandora advances after upbeat notes from analysts
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09:36 EDTAAPLActive equity options trading on open
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07:45 EDTAAPLApple granted patent for smartwatch with gesture support, AppleInsider says
A patent granted to Apple and published by the USPTO provides one of the clearest signs yet that the company has been working on a smartwatch, reported AppleInsider, which noted that the patent covers a wrist-worn wearable device, dubbed "iTime" in one illustration, that supports arm and wrist gestures and has advanced proximity-sensing circuitry. Reference Link
07:31 EDTMSFT, AAPLInvestors prepare for large dose of earnings reports
U.S. equity futures are suggesting a market bounce following yesterday’s down day. Investors are feeling optimistic about the week’s large number of earnings reports. Scheduled to release results today are tech heavyweights Apple (AAPL) and Microsoft (MSFT.) Both companies' earnings have the ability to impact the rest of the technology sector. Investors will also be examining the Consumer Prices Index, a housing price index, an existing home sales report, and Richmond Fed manufacturing data.
06:17 EDTMSFTGlobal notebook shipments to increase 4.3% in Q3, DigiTimes Research says
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06:01 EDTAAPLApple asking suppliers to produce 80M large-screen iPhones, WSJ reports
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05:59 EDTINTCStocks with implied volatility below IV index mean; INTC SHPG
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05:53 EDTMSFTStocks with implied volatility movement; HLF MSFT
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July 21, 2014
16:52 EDTMSFTGoogle ranked as top U.S. search marketplace in June
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16:00 EDTAAPLOptions Update; July 21, 2014
iPath S&P 500 VIX Short-Term Futures up 65c to 28.53. Option volume leaders: AAPL FB NFLX DG CMCSA GILD PBR TWTR TSLA according to Track Data.
14:27 EDTAAPLApple inventory, older iPhone demand should be watched, says BGC Financial
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14:23 EDTAAPLApple July weekly volatility elevated at 57 into Q3
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12:41 EDTINTCIntel advances after analyst predicts mobile unit rebound coming
Shares of Intel (INTC) are advancing in a down market after Wells Fargo wrote that the company's mobile chip business could rebound significantly in coming quarters. WHAT'S NEW: Intel's mobile chip business could boost the company's growth and even enable it to beat earnings expectations, Wells Fargo wrote in a note to investors today. The chip maker's shipments of 4G modems should start rising significantly in the third quarter or fourth quarter of this year, the firm stated. The company has probably won some deals to provide LTE modems for smartphones and Samsung is likely one of the chip maker's initial customers, the firm wrote. Broadcom's (BRCM) decision to exit the baseband market probably improved Intel's position in the 4G market, Wells Fargo contended. Meanwhile, Intel said that by this year's holiday season, it should be ready to launch chips for mobile devices that are smaller than those of a key competitor, TSMC (TSM), Wells noted. Sales generated by Intel's mobile and communications unit may have bottomed last quarter or could do so during the current quarter, the firm believes. The unit's operating losses are likely to drop throughout this year, before falling sharply in the quarter ended March 2015, Wells estimated. The unit may approach break even by the end of 2015, the firm added. Wells kept an Outperform rating on the stock. WHAT'S NOTABLE: On July 15, Intel reported stronger than expected results for its quarter ended in June. PRICE ACTION: In early afternoon trading, Intel rose 43c, or 1.3%, to $34.13.
11:04 EDTMSFTOptions with increasing implied volatility:
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10:45 EDTAAPLAnalysts roll out coverage on GoPro with differing views
Shares of GoPro (GPRO) are climbing after a number of analysts initiated coverage of the stock with different outlooks. GoPro develops mountable and wearable cameras. BULLISH TAKE: JPMorgan analyst Paul Coster initiated coverage of GoPro with an Overweight rating. GoPro is gaining share in the digital camcorder market, and it has begun to penetrate "active lifestyle" markets, which are a much larger opportunity for the company, Coster believes. The company could ship 10M of its products for use by active lifestyle participants annually, the analyst estimated. In a best case scenario, the company could also sell low-cost devices for the mass market, according to Coster. However, GoPro will face competition from major companies, including Google (GOOG) and possibly Apple (AAPL) in this market, warned Coster, who set a $51 price target on GoPro. Also initiating coverage of the name with an Overweight rating was Piper Jaffray analyst Sean Naughton. GoPro is in the early stages of growth, as the company's user base is poised to expand beyond extreme sports enthusiasts, the analyst forecast. The company has a competitive advantage over other brands, which should enable it to maintain strong profitability, added Naughton, who set a $48 price target on the shares. BEARISH TAKE: Stifel analyst Jim Duffy started coverage of GoPro with a Hold rating. The company's three year growth outlook is compelling, but the stock is fully valued, the analyst believes. The company faces a number of risks, including competition in the image device market and the possibility that its relationship with key channel partners, including Best Buy (BBY), could be disrupted, the analyst wrote. Sales to Best Buy accounted for 17% of GoPro's revenue in fiscal 2013, Duffy reported. After GoPro surged following its initial public offering, the stock is likely to advance by only limited amounts, wrote Barcalys analyst Joseph Wolf, who initiated coverage of the shares with an Equal Weight rating. The stock could fall to $30 if the company is unable to increase its hardware sales or make progress in its efforts to develop a media business, the analyst warned. He set a $45 price target on the shares. PRICE ACTION: A total of seven analysts rolled out coverage today on GoPro, according to The Fly’s research, with only two recommending the stock with buy-equivalent ratings. Shares of the camera marker are up 3%, or $1.10, to $42.53 in morning trading.
10:09 EDTMSFTMicrosoft July weekly volatility elevated into Q4 and outlook
Microsoft July weekly call option implied volatility is at 51, August is at 29, October is at 20; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q4 on July 22.
10:02 EDTAAPLOn The Fly: Analyst Upgrade Summary
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09:38 EDTAAPLActive equity options trading on open
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08:17 EDTAAPLApple upgraded at JMP Securities
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07:48 EDTMSFTMicrosoft top lawyer fights at center of post-Snowden offensive, WSJ says
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07:34 EDTINTCIntel mobile business could be source of growth, says Wells Fargo
Wells Fargo believes that Intel's Mobile & Communications segment could be an important growth and profit driver for the company starting next year. The firm thinks the company's manufacturing technology lead and efforts to establish a foundry business could boost its Mobile & Communications segment. It keeps an Outperform rating on the stock.
07:15 EDTMSFT, INTCO'Reilly to hold a conference
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07:14 EDTAAPLApple should be owned into tomorrow's results, says Piper Jaffray
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06:42 EDTAAPLApple price target raised to $115 from $100 at UBS
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06:14 EDTINTCStocks with implied volatility below IV index mean; INTC SHPG
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06:02 EDTMSFTLenovo says not getting out of small-screen Windows tablet business
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05:57 EDTAAPLApple upgraded to Outperform from Market Perform at JMP Securities
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July 20, 2014
13:06 EDTAAPLFormer Obama spokesman Carney said to consider job at Apple, Bloomberg says
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July 18, 2014
16:47 EDTAAPL, INTCMarket ends week higher as earnings, M&A offset geopolitical tensions
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16:03 EDTAAPLOptions Update; July 18, 2014
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12:36 EDTINTCPlug Power said to be on list of companies probed by SEC, Probes Reporter says
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11:42 EDTINTCAMD plummets after profit miss, analyst downgrades
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11:03 EDTAAPLEU says Google adding 'in-app' purchase protections, Apple yet to commit
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10:33 EDTAAPLSkyworks price target raised to $62 from $56 at Craig-Hallum
Craig-Hallum increased its price target on Skyworks (SWKS) after the company's Q3 results surpassed its guidance, and the company issued guidance for its September quarter that the firm views as strong. The firm thinks the company's annual EPS is moving towards $5. It expects the company to benefit from the launch of Apple's (AAPL) iPhone 6 and the recent popularity of Internet of Things devices. Craig-Hallum thinks the shares look cheap and reiterates a Buy rating on the shares.
09:48 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NQ GOOG GOOGL TSLA KGC TWTR AMZN ELNK AMGN FB
08:58 EDTMSFTMicrosoft's Spencer confirms Xbox Entertainment Studios to close, Re/code says
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07:49 EDTAAPLEU says Apple should do more to battle in-app purchases issue, Reuters says
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07:22 EDTMSFTTotal June video game sales up 24%, spending on games down 3%, VentureBeat says
Sales of physical video game products, including consoles, games and accessories, rose 24% from the same month of last year to $736.4M in the U.S. in June, reported VentureBeat, citing NPD Group data. Spending on games slid 3% year-over-year to $286.8M, the report noted, with NPD stating that sales of launch titles this June "did not compare favorably" to those launched in 2013. The report also noted that PS4 again outsold Xbox One in the month. Publicly traded companies in the video game space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME), Take-Two (TTWO), Sony (SNE) and Microsoft (MSFT). Reference Link
06:58 EDTAAPLReport says iPhone 6 begins mass production this month, Reuters says
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06:06 EDTMSFTXbox Live, PlayStation Network users report connectivity issues, Re/code says
Xbox Live (MSFT) and PlayStation Network (SNE) users yesterday reported problems with connecting to their online services, Re/code reports. The connectivity issues could be connected to the start of a beta period for the upcoming Bungie-Activision (ATVI) game Destiny, the publication says. Reference Link
06:06 EDTINTCStocks with implied volatility below IV index mean; LULU INTC
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06:06 EDTMSFTSony confirms PlayStation4 is top selling next-gen consol in June for U.S.
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July 17, 2014
18:31 EDTINTCOn The Fly: After Hours Movers
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17:57 EDTMSFTMicrosoft still looks attractive, Barron's says
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16:52 EDTMSFTOn The Fly: Closing Wrap
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16:40 EDTAAPLBill Campbell retires from Apple's board, replaced by Susan Wagner
Apple (AAPL) announced that Susan Wagner, founding partner and director of BlackRock (BLK), has been elected to Apple's board. Bill Campbell, the board’s longest-serving member, is retiring after 17 years of service. Wagner co-founded BlackRock in 1988, holding a range of leadership positions including vice chairman until mid-2012.
16:01 EDTAAPL, MSFTOptions Update; July 17, 2014
iPath S&P 500 VIX Short-Term Futures up 2.66 to 29.93. Option volume leaders: AAPL FB GOOG APA MSFT PBR SUNE AMZN TWTR TSLA according to Track Data.
15:05 EDTAAPLEarnings Preview: IBM reports after Apple deal, dividend hike
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14:51 EDTAAPLApple heads lower to test of support, levels to watch
The shares are heading lower, last at $93.48. At that price the stock is just above uptrend support at the 30-day moving average, last at $93.11. A break below the 30-day moving average would set the stage for a test down to the 50-day moving average at $90.57. Resistance is at $95.10, the 10-day moving average.
14:44 EDTAAPLAsus tablet sales in Japan top Apple in first half of year, Nikkei says
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13:33 EDTAAPLAmazon.com reportedly deveoping Android app for Prime content, Cnet says
Amazon (AMZN) may soon release an app that would enable users of Google's (GOOG) Android operating system to stream content from Amazon's Prime Instant Video, PC Advisor reported, according to Cnet. Currently Amazon's Kindle Fire tablets and Apple's (AAPL) iPads are the only mobile devices that can access content from Prime, Cnet stated. Reference Link
13:20 EDTMSFTMicrosoft to shutter Xbox Entertainment Studios, Re/code reports
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13:18 EDTMSFTOn The Fly: Midday Wrap
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09:40 EDTINTC, MSFT, AAPLActive equity options trading on open
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09:15 EDTMSFTOn The Fly: Pre-market Movers
HIGHER: Dresser-Rand (DRC), up 15.5% after Manager Magazin says Siemens (SIEGY) preparing bid for the company. Other oil equipment companies with a market cap similar to Dresser-Rand's include Dril-Quip (DRQ) and Oil States (OIS)... Microsoft (MSFT), up 3.4% after announcing restructuring, including plans to cut up to 18K jobs. UP AFTER EARNINGS: Morgan Stanley (MS) up 1.5%... Sherwin-Williams (SHW), up 3%. DOWN AFTER EARNINGS: Mattel (MAT), down 7.3%... Sandisk (SNDK), down 7%... Yum! Brands (YUM), down 2.5%. LOWER: Orbitz (OWW), down 3% after results, 34M share spot secondary offering of stock priced at $8.25... Benefitfocus (BNFT), down 1% after 2.5M share Secondary priced at $38.50.
08:39 EDTMSFTMicrosoft shifting some Nokia X designs to Lumia products running Windows
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08:25 EDTMSFTMicrosoft CEO says plans to have fewer layers of management
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08:25 EDTMSFTMicrosoft CEO says decision to change "difficult, but necesary"
In am email to Microsoft employees on the integration of Nokia Devices and Services, CEO Satya Nadella said "The first step to building the right organization for our ambitions is to realign our workforce. With this in mind, we will begin to reduce the size of our overall workforce by up to 18,000 jobs in the next year. Of that total, our work toward synergies and strategic alignment on Nokia Devices and Services is expected to account for about 12,500 jobs, comprising both professional and factory workers. We are moving now to start reducing the first 13,000 positions, and the vast majority of employees whose jobs will be eliminated will be notified over the next six months. It’s important to note that while we are eliminating roles in some areas, we are adding roles in certain other strategic areas... Our workforce reductions are mainly driven by two outcomes: work simplification as well as Nokia Devices and Services integration synergies and strategic alignment. First, we will simplify the way we work to drive greater accountability, become more agile and move faster. As part of modernizing our engineering processes the expectations we have from each of our disciplines will change. In addition, we plan to have fewer layers of management, both top down and sideways, to accelerate the flow of information and decision making. This includes flattening organizations and increasing the span of control of people managers... Second, we are working to integrate the Nokia Devices and Services teams into Microsoft. We will realize the synergies to which we committed when we announced the acquisition last September. The first-party phone portfolio will align to Microsoft’s strategic direction. To win in the higher price tiers, we will focus on breakthrough innovation that expresses and enlivens Microsoft’s digital work and digital life experiences. In addition, we plan to shift select Nokia X product designs to become Lumia products running Windows." Reference Link
08:13 EDTMSFTMicrosoft to cut 18K jobs, sees restructuring charge of $1.1B-$1.6B
Microsoft announced a restructuring plan to simplify its operations and align the recently acquired Nokia Devices and Services business with the company's overall strategy. These steps will result in the elimination of up to 18,000 positions over the next year. Of the total, about 12,500 professional and factory positions will be eliminated through synergies and strategic alignment of the Nokia Devices and Services business acquired by Microsoft on April 25. The actions associated with the plan are expected to be substantially complete by Dec. 31, 2014, and fully completed by June 30, 2015. The company expects to incur pre-tax charges of $1.1B-$1.6B over the next four quarters, including $750M-$800M for severance and related benefit costs, and $350M-$800M of asset-related charges.
08:11 EDTMSFTMicrosoft to cut 18K jobs, sees pretax charge of $1.1B-$1.6B
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08:00 EDTMSFTMicrosoft says Xbox One sales more than double in June from prior month
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07:51 EDTINTCSenate Finance Committee to hold a hearing
The Committee holds a hearing entitled, "The Role of Trade & Technology in 21st Century Manufacturing" with Vice President Sturm of Intel on July 17 at 10 am. Webcast Link
05:58 EDTMSFTMicrosoft layoffs could be announced today, NY Times reports
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05:56 EDTINTCStocks with implied volatility below IV index mean; LULU INTC
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July 16, 2014
17:55 EDTINTCIntel looks like a hold, Barron's says
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16:54 EDTAAPLIcahn says Apple's Tim Cook doing a 'good job'
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16:24 EDTAAPL, INTCOn The Fly: Closing Wrap
Stocks on Wall Street started the trading day higher, thanks in part to solid earnings reports from some of the nation’s largest companies as well as a proposed mega-merger in the entertainment industry. Investors preparing for the next round of earnings after the close, which includes reports from eBay (EBAY), Yum! Brands (YUM), and Las Vegas Sands (LVS), did so with the Dow at a new all-time high. ECONOMIC EVENTS: In the U.S., the Producer Price Index for June rose 0.4%, which was ahead of expectations for a 0.2% increase. Industrial production grew 0.2% in June, missing the forecast for 0.3% growth. The NAHB homebuilder confidence index rose to 53 in July, ahead of expectations for it to tick up 1 point to 50. Economic activity expanded in all regions of the country at a moderate to modest pace in recent weeks, the Fed reported today in its Beige Book. Consumer spending rose in every region, as retail sales grew modestly in most areas and vehicle sales were stronger than sales of most other products, the central bank reported. COMPANY NEWS: Shares of HBO and Warner Bros. parent Time Warner (TWX) surged $12.12, or 17.07%, to $83.13 after it was reported by CNBC and DealBook's Andrew Ross Sorkin that the company had received, and rejected, a takeover offer worth about $80B, or $85 per share, from Rupert Murdoch's Twenty-First Century Fox (FOXA). Both Time Warner and Fox subsequently confirmed the report, with Time Warner stating that it rejected the bid since it was "not in the best interests of stockholders" and Fox noting that the companies are not currently in discussions. Afterward, research firm Jefferies said it believes 21st Century Fox could raise its bid for Time Warner into the mid-to-upper $90's per share, but it also thinks that Time Warner would still be unlikely to accept the offer. Meanwhile, FBR Capital said Fox could pay up to $120 for Time Warner and still make an accretive deal. Class A shares of Twenty-First Century Fox ended the day down $2.19, or 6.22%, to $33.00... Shares of Apple (AAPL) initially rose after announcing last night that it would collaborate with IBM (IBM) to provide mobile solutions for businesses. Goldman Sachs analyst Bill Shope wrote in a note to investors that the deal with IBM is clearly positive for Apple, as it validates the "unique enterprise capabilities" of iOS, which has a lack of fragmentation that makes it uniquely suited for organizations. BlackBerry (BBRY), which has a focus on mobile devices for business use, slid $1.33, or 11.77%, to $9.97 after the tech giants announced their new partnership. Apple closed down 54c, or 0.57%, to $94.78, though IBM (IBM), which reports after tomorrow's close, climbed $3.87, or 2.05%, to $192.36. MAJOR MOVERS: Among the notable gainers was Intel (INTC), which advanced $2.94, or 9.27%, to $34.65 after the semiconductor giant's second quarter results beat analysts' consensus estimates. Also higher was Tenet Healthcare (THC), which rallied $3.74, or 8.32%, to $48.71 after after another company in the hospital sector, HCA Holdings (HCA), pre-announced stronger than expected second quarter results. For its part, HCA rose $5.78, or 10.47%, to $60.99 after providing better than expected Q2 guidance and increasing its fiscal year outlook. Among the noteworthy losers was Yahoo (YHOO), which fell $1.82, or 5.11%, to $33.79 after the company's second quarter results fell short of analysts' consensus estimates. The company also said it will lower the amount of stock it will sell in Alibaba's initial public offering to 140M shares and that it plans to return "at least half" of its after-tax proceeds from the stake sale to its shareholders. Also lower were shares of Ross Stores (ROST), which fell $3.12, or 4.78%, to $62.15 after Sterne Agee downgraded its stock to Neutral from Buy and cut its price target for shares to $68 from $81, citing negative traffic trends and low visibility. INDEXES: The Dow rose 77.52, or 0.45%, to 17,138.20, the Nasdaq gained 9.58, or 0.22%, to 4,425.97, and the S&P 500 advanced 8.29, or 0.42%, to 1,981.57.
16:00 EDTINTC, AAPLOptions Update; July 16, 2014
iPath S&P 500 VIX Short-Term Futures down 70c to 27.25. Option volume leaders: AAPL FB GOOG AMZN TWTR TSLA C HPQ TWX INTC AMZN according to Track Data.
13:52 EDTMSFTMicrosoft advances strongly after Intel comments on PCs
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12:47 EDTMSFTYahoo falls after results disappoint, details additional plans for Alibaba stake
Shares of media and search engine company Yahoo (YHOO) are falling after the company's second quarter results fell short of analysts' consensus estimates. The company also said it will lower the amount of stock it will sell in Alibaba's initial public offering to 140M shares and that it plans to return "at least half" of its after-tax proceeds from the stake sale to its shareholders. WHAT'S NEW: Last night, Yahoo reported Q2 earnings per share of 37c and revenue ex-tac of $1.04B, narrowly missing analysts' consensus estimates of 38c and $1.08B, respectively. The company's Q2 display ad revenue fell 7% to $394M, while Q2 price per ad fell 24% versus last year. Q2 search revenue ex-tac increased 6% to $428M. Yahoo said that in Q2, the number of ads sold increased approximately 24% compared to last year, while the number of paid clicks increased approximately 3%. Price-per-click increased 15% compared to last year. Marissa Mayer, Yahoo's Chief Executive Officer, said that as the company's top priority is revenue growth, it is "not satisfied" with Q2 results. Mayer noted that several areas showed strength in the quarter, including Yahoo Search, which grew 6% year-over-year on a revenue ex-tac basis, but their growth was offset by declines. Meyer says the company needs to "work faster to ameliorate" negative trends in display. Mayer says the company "can and will do better" going forward. WHAT'S NOTABLE: Looking ahead, Yahoo forecast third quarter revenue ex-tac of $1.02B-$1.06B, below the consensus of $1.1B. The company also guided Q3 adjusted earnings before interest, taxes, depreciation and amortization, or EBTIDA, at $220M-$260M and non-GAAP operating income of $70M-$110M. Yahoo also noted that it will lower the number of shares it sells in the Alibaba IPO to 140M from 208M, and is committed to return at least half of the after-tax IPO proceeds to shareholders. Mayer noted on the company's earnings conference call that "A transformation of this size will take several years," adding that "it will take a little longer than originally forecasted." ANALYST REACTION: This morning, research firm CRT Capital downgraded Yahoo to Fair Value from Buy, citing mixed Q2 earnings and weak guidance. The firm sees pressure on ad pricing continuing for at at least two to three quarters. Another firm, Bernstein, lowered their price target on Yahoo to $40 from $43 following the company's weaker than expected results and said that it would return 50% of its proceeds from the Alibaba IPO to shareholders. The firm thinks there is an increased risk that Yahoo will use the other 50% on M&A, and Bernstein sees high risk that the M&A will destroy value. Bernstein kept an Outperform rating on the stock. Piper Jaffray said Yahoo should be owned ahead of the Alibaba IPO, noting its agreement with Alibaba to reduce the number of shares it will sell at the IPO should outweigh the "unsurprising" challenges in the company's core business. The firm, which kept an Overweight rating on the stock, expects the stock to react positively on the Q2 earnings report. PRICE ACTION: In early afternoon trading, Yahoo fell $1.66, or about 4.7%, to $33.95 on heavy trading volume. Despite today's pull back, the stock is up approximately 25% over the past 12 months. OTHERS TO WATCH: Yahoo peer AOL (AOL) is down over 4.% to $38.98. Jackie Reses, Yahoo's chief of mergers and acquisitions, said at the Fortune Brainstorm Tech Conference that the company is not planning to buy AOL, Re/code reported this morning. Mayer previously told a number of people that she does not "get" the merger.
12:26 EDTINTC, AAPLOn The Fly: Midday Wrap
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12:07 EDTAAPLApple, IBM rise after agreeing to collaborate on mobile products
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12:05 EDTAAPLNew York AG enters E-Book price fixing settlement with Apple
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12:01 EDTAAPLNew York AG announces e-book price settlement with Apple
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11:29 EDTINTCIntel hits 52-week high after results beat estimates
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10:58 EDTAAPLSamsung in talks to buy SmartThings for about $200M, TechCrunch reports
Samsung is in talks to acquire SmartThings, a company in the home automation space that allows users to connect devices like lights and doorlocks to a system controlled by their mobile phone, TechCrunch reports. The purchase price is said to be around $200M. Reference Link
10:00 EDTAAPLOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Airlines (AAL) initiated with an Overweight at Atlantic Equities... Apple (AAPL) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Neutral at RW Baird... Brookdale Senior Living (BKD) initiated with a Buy at Goldman... CA Technologies (CA) initiated with a Market Perform at FBR Capital... Dresser-Rand (DRC) initiated with a Neutral at RW Baird... Fortinet (FTNT) initiated with a Neutral at Goldman... Frank's International (FI) initiated with a Hold at Jefferies... Home Bancorp (HBCP) initiated with an Outperform at Fig Partners... Key Energy (KEG) initiated with an Outperform at RW Baird... McDermott (MDR) initiated with a Neutral at Tigress Financial... ORBCOMM (ORBC) initiated with a Neutral at Macquarie... Oil States (OIS) initiated with an Outperform at RW Baird... PBF Energy (PBF) initiated with an Equal Weight at Barclays... Palo Alto (PANW) assumed with a Conviction Buy at Goldman... Proofpoint (PFPT) initiated with a Buy at Goldman... Qlik Technologies (QLIK) initiated with a Market Perform at FBR Capital... Radius Health (RDUS) initiated with a Buy at Canaccord... Seventy Seven Energy (SSE) initiated with a Hold at Jefferies... Superior Energy (SPN) initiated with an Outperform at RW Baird... Tandem Diabetes (TNDM) initiated with an Outperform at William Blair... Trecora Resources (TREC) initiated with a Buy at B. Riley... Ultragenyx (RARE) initiated with an Outperform at RW Baird... United Natural Foods (UNFI) initiated with an Outperform at Oppenheimer... Viper Energy (VNOM) initiated with a Market Perform at Northland... Whiting Petroleum (WLL) initiated with a Buy at Tigress Financial.
10:00 EDTINTCOn The Fly: Analyst Upgrade Summary
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09:37 EDTAAPLActive equity options trading on open
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09:37 EDTAAPLPhoto claims to show iPhone 6 Touch ID component, Business Insider says
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09:23 EDTINTC, AAPLOn The Fly: Pre-market Movers
HIGHER: Time Warner (TWX), up 15% after company confirmed that it rejected an $80B takeover offer from 21st Century Fox (FOX, FOXA), as had been reported earlier this morning... Apple (AAPL), up 2% after announcing an enterprise mobile partnership with IBM (IBM), which is also up 2%... International Game (IGT), up 9.5% after agreeing to be acquired by GTECH for $4.7B in cash and stock... FireEye (FEYE), up 5% after shares upgraded at Goldman... Precision Drilling (PDS), up 4% after announcing strategic agreement with Schlumberger (SLB), upgraded at Deutsche Bank... Mellanox (MLNX), up 4.7% following upgrade at Jefferies. UP AFTER EARNINGS: Intel (INTC), up 5.4%... HCA Holdings (HCA), up 6%... Textron (TXT), up 3.2%... Abbott (ABT), up 1%. DOWN AFTER EARNINGS: PNC Financial (PNC), down 2.5%... MGIC Investment (MTG), down 3.6%. LOWER: Yahoo (YHOO), down 3% after downgraded at CRT Capital following second quarter earnings report... Ares Capital (ARCC), down 2.5% after filing to sell 11.85M shares of common stock... Nationstar (NSM), down 2.4% after downgraded at Wells Fargo... Walter Investment (WAC), which was also downgraded at Wells Fargo, down 1.6%.
08:09 EDTMSFT21Vianet and GigaTrust sign partnership agreement in China
21Vianet (VNET) and GigaTrust, provider of Microsoft (MSFT)-based email and document protection software solutions for mobile devices, have signed an exclusive partnership agreement for the China market. 21Vianet will market and sell the portfolio of GigaTrust security products to enterprises and Office 365 cloud subscribers in China.
08:05 EDTINTCHP has positive read through from Intel results, says Pacific Crest
Pacific Crest has an upward bias on its estimates for HP (HPQ) following Intel's (INTC) positive comments on the PC market. The firm thinks that HP's stock could jump another 20% if enterprise PC fundamentals continue to improve. It keeps an Outperform rating on HP.
08:03 EDTAAPLApple deal with IBM could drive enterprise sales, says Canaccord
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08:00 EDTAAPLInvenSense Orbotech look good into Q2 results, says Oppenheimer
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07:47 EDTINTCIntel price target raised to $50 from $40 at Drexel Hamilton
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07:39 EDTINTCIntel comments bode well for Mellanox, says Macquarie
Intel (INTC) said on its earnings call that the Haswell-EP Xeon E5 high-performance CPU built on the Grantley platform is already being shipped in pre-production quantities and is on track for a CYQ3 launch. Macquarie said Intel's commentary is a positive for the HPC market and Mellanox (MLNX) should see corresponding demand. Shares are Outperform rated with a $52 price target.
07:33 EDTINTCIntel price target raised to $45 from $40 at Jefferies
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07:17 EDTINTCIntel facing headwinds, says RBC Capital
After Intel reported stronger than expected results, RBC Capital thinks the company will be burdened by start-up costs in Q4 and 1Q15. The firm thinks there is a risk that the company's gross margins will drop and it keeps a Sector Perform rating on the shares.
07:06 EDTINTCIntel price target raised to $36 from $31 at Stifel
Stifel increased its price target on Intel after the company reported stronger than expected results for its June quarter and provided guidance for its September quarter that the firm views favorably. Stifel keeps a Buy rating on the shares.
07:01 EDTINTCIntel price target raised to $40 from $35 at Deutsche Bank
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07:00 EDTINTCIntel price target raised to $40 from $35 at Credit Suisse
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06:55 EDTAAPLSurvey shows Samsung losing smartphone ground, Reuters says
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06:38 EDTAAPLApple price target raised to $107 on enterprise opportunity at Goldman
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06:24 EDTMSFTMicrosoft aims to reduce 1K jobs in Finland, Reuters says
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06:20 EDTAAPLDRAM chip prices likely to increase 10% in July, DigiTimes reports
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06:18 EDTAAPLApple's iPhone orders to benefit Taiwan component maker revenue, DigiTimes says
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06:17 EDTAAPLApple initiated with a Buy at Citigroup
Citigroup believes consensus expectations are underappreciating the upgrade potential of Apple’s installed base. Citi believes Street estimates for 2015 and 2016 are too low and started shares of Apple with a Buy rating and $110 price target.
06:14 EDTAAPL, MSFTABI Research: More than 2B smartphones to ship in 2018, DigiTimes says
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06:08 EDTINTCIntel moving 360 employees from Israel to Ireland, Globes reports
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06:06 EDTINTCIntel upgraded to Buy from Neutral at B. Riley
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06:04 EDTINTCIntel upgraded to Buy from Neutral at UBS
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05:55 EDTINTCIntel price target raised to $37 from $31 at Piper Jaffray
Piper Jaffray raised its price target for Intel shares to $37 saying the company's momentum continues following its Q2 report. Piper keeps an Overweight rating on the stock.
July 15, 2014
18:29 EDTINTC, AAPLOn The Fly: After Hours Movers
UP AFTER EARNINGS: Intel (INTC), up 4.1% after reporting second quarter results... AMD (AMD), up 1.6% after Intel reported quarterly results... Cintas (CTAS), up 1.6% after reporting fourth quarter results and fiscal 2015 guidance. ALSO HIGHER: IBM (IBM), up 1.8% after announcing an enterprise mobile partnership with Apple (AAPL), which is up 1.5%. DOWN AFTER EARNINGS: Yahoo! (YHOO), down 2.3% after reversing direction during the company's second quarter earnings conference call. ALSO LOWER: BlackBerry (BBRY), down 3.4% following IBM and Apple partnership announcement.
18:05 EDTINTCIntel says consumer remains challenging, soft
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17:40 EDTAAPLBlackBerry slides after Apple, IBM partner on mobile enterprise
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16:51 EDTAAPLBlackBerry lower by almost 5% after Apple-IBM pact
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16:50 EDTAAPLApple, IBM both higher after announcing enterprise mobile partnership
In after-hours trading, Apple (AAPL) is up 1.5%, while IBM (IBM) is up 2.1%.
16:35 EDTAAPLApple, IBM announce announce partnership to 'transform enterprise mobile'
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16:31 EDTAAPLApple, IBM announce partnership to 'transform enterprise mobile'
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16:31 EDTINTCIntel CFO says company strategy 'played out nicely' in first half
Says data center business extremely strong. Says still seeing soft consumer. Says on the cusp of a PC refresh cycle. Says goal is to keep long-term margins in 55%-65% range. Says needs to push costs down, battery life up. Stacy Smith is speaking on CNBC.
16:22 EDTINTCIntel announces increase of $20B to share repurchase plan
Intel announced that it intends to return more cash to shareholders by lowering its cash balance further through increased share repurchases. The board of directors authorized an increase of $20B to its share repurchase program and the company is forecasting share repurchases of approximately $4B in the third quarter, with additional share repurchases in the fourth quarter. Over the last decade Intel has returned almost $90B to shareholders through dividends and share repurchases.
16:15 EDTINTCIntel targets $4B for share repurchases in Q3
16:12 EDTINTCIntel up about 4% following better than expected Q2 results
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16:10 EDTINTCIntel reports Q2 PC Client Group revenue $8.7B, up 9% sequentially, up 6% YoY
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16:07 EDTINTCIntel says on track to meet 40M unit tablet goal
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16:06 EDTINTCIntel reports Q2 gross margin 64.5%
16:06 EDTINTCIntel sees FY14 revenue growth approximately 5%, consensus $54.55B
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16:04 EDTINTCIntel sees Q3 revenue $14.4B, plus or minus $500M, consensus $14.02B
Sees Q3 gross margin 66%, plus or minus a couple of percentage points.
16:03 EDTINTCIntel reports Q2 EPS 55c, consensus 52c
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16:00 EDTAAPLOptions Update; July 15, 2014
iPath S&P 500 VIX Short-Term Futures up 53c to 28.02. Option volume leaders: AAPL FB GOOG AMZN ABX DIS NFLX TWTR TSLA according to Track Data.
15:27 EDTINTCNotable companies reporting after market close
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12:55 EDTINTC, AAPLEarnings Preview: Intel up over 12% since pre-announcement
Intel (INTC) is expected to report second quarter earnings after the close on Tuesday, July 15, with a conference call scheduled for 5:00 pm ET. Intel is a global semiconductor manufacturer and a member of the Dow Jones Industrial Average. EXPECTATIONS: Analysts are looking for earnings per share of 52c on revenue of $13.69B. The consensus range is 45c-55c for EPS on revenue of $13.0B-$14.0B, according to First Call. Along with its first quarter report, Intel said it saw Q2 revenue of $13B, plus or minus $500M, compared to consensus at that time of $12.96B. Intel said then that it had expected its fiscal year 2014 revenue to be approximately flat, compared to consensus at that time of $53.15B. Subsequently, on June 12, Intel raised its Q2 revenue forecast to be $13.7B, plus or minus $300M, citing stronger than expected demand for business PCs. Intel added that it now expects some revenue growth for the year and that its full-year gross margin percentage is now expected to be in the upper half of the previous range of 61%, plus or minus a few percentage points, driven mostly by expected improvements in unit cost and volume. LAST QUARTER: Intel reported Q1 EPS of 38c, compared to consensus expectations at that time of 37c. The company's revenue of $12.8B was generally in-line with the consensus forecast. For the quarter, the company's gross margin came in at 59.7%. STREET RESEARCH: On the day after Intel made its positive pre-announcement, its stock was upgraded by several research firms. At that time, Morgan Stanley upgraded the shares to Equal Weight from Underweight, Roth Capital raised its rating to Buy from Neutral, and Drexel Hamilton upped its rating to Buy from Hold. Several firms also increased their price targets on Intel, with Jefferies raising its price target for Intel to $40 from $35 and Pacific Crest taking its target up to $35 from $32. Last night, coverage of Intel was initiated at Imperial Capital, which placed an Outperform rating and $37 target on the stock. NEWS: After eight quarters of declining shipments, worldwide PC shipments experienced flat growth in the second quarter of 2014, Gartner reported recently. Worldwide PC shipments totaled 75.8M units in the quarter, a 0.1% increase from the same quarter of 2013, according to Gartner. Another research firm, International Data Corporation, estimated that worldwide PC shipments totaled 74.4M units in the second quarter, marking a year-on-year decline of 1.7%. In company specific news, a July 9 report from MacRumors, citing Chinese site VR Zone, claimed that Intel has decided to further postpone the shipping of its line of 14-nanometer Broadwell chips, which are anticipated to be included in future versions of the Apple's (AAPL) MacBook Air, Retina MacBook Pro, and iMac. A report two days later from DigiTimes said that Intel is set to unveil its 14nm processors and 10nm wafers at its Developer Forum in San Francisco, citing sources from the upstream supply chain. According to the report, Intel will release the 14nm Core M-series processors in Q4 and 14nm Broadwell-based processors in January 2015. In June, The Wall Street Journal reported that Intel announced plans to package its standard server processors alongside a different class of programmable chip in a combination that includes an FPGA, or field programmable gate array. The Journal noted that FPGAs have been sold for years by Xilinx (XLNX) and Altera (ALTR), but that the general manager of Intel’s data center group, Diane Bryant, declined to disclose Intel’s partner on the latest effort or when the resulting products would hit the market. PRICE ACTION: Since the day after its earnings pre-announcement, Intel shares have risen over 12% and its stock is up more than 17% over the last three months. In afternoon trading ahead of tonight's report, Intel was trading near flat at $31.53.
12:01 EDTMSFTMicrosoft July weekly volatility elevated into Q4 and outlook
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11:55 EDTMSFTMicrosoft hits a fresh 52-week high, levels to watch
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11:41 EDTAAPLApple CEO has 'never met' Carney, The Loop reports
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10:46 EDTAAPLApple rumored to solve alleged battery problem in new iPhones, AppleInsider says
According to reports from Asia, Apple is rumored to have solved its issue with the construction of ultra-thin batteries for its next-generation iPhones, says AppleInsider. Apple is said to have enlisted a new manufacturing partner in Taiwan to craft the batteries, added AppleInsider. Reference Link
10:00 EDTINTCOn The Fly: Analyst Initiation Summary
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09:40 EDTAAPLApple 'iWatch' said to debut in two sizes, three models, AppleInsider says
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09:38 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL FB JPM TSLA
09:31 EDTMSFTSenate Judiciary Committee to hold a hearing
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09:29 EDTMSFTMicrosoft in talks to buy cybersecurity start-up Aorato, WSJ says
Microsoft is in talks to buy Israel-based cybersecurity start-up Aorato in a deal worth around $200M, according to The Wall Street Journal, citing a person familiar with the matter who noted that the pact could close within the next two months. Reference Link
09:05 EDTMSFTMicrosoft price target raised to $50 from $45 at Nomura
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08:35 EDTMSFTCisco announces multi-year sales, go-to-market agreement with Microsoft
Cisco (CSCO) announced a multi-year sales and go-to-market agreement with Microsoft (MSFT) designed to modernize data centers through the delivery and acceleration of integrated solutions. Cisco and Microsoft will both invest in sales, marketing and engineering resources to drive global alignment, while delivering deeper technology integration across cloud and data center markets. The companies will focus on integrating market leading technologies, including Cisco Unified Computing System, Cisco Nexus switching and Microsoft Cloud OS solutions including Windows Server, System Center, SQL Server and Microsoft Azure.
07:33 EDTINTCIntel July 31.5 straddle priced for 3% move into Q2
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07:24 EDTMSFTMicrosoft to hold a conference
MSFT Worldwide Partner Conference to be held in Washington, D.C. on July 13-17.
07:23 EDTINTC, MSFTFortune to hold a conference
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06:43 EDTAAPLApple reportedly considering Carney for PR head position, Re/code reports
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06:24 EDTMSFTMicrosoft poised to make job reductions, Bloomberg says
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06:20 EDTAAPLBoy's rash linked to possible exposure to nickel found in iPad, WSJ reports
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06:06 EDTMSFTElectronic Arts names Ken Moss as Chief Technology Officer
Electronic Arts (EA) announced on its website that it has named Ken Moss as its Chief Technology Officer. As CTO, Ken will lead the organization, strategy and vision for EA’s Digital Platform and Information Technology divisions. Moss comes to EA most recently from eBay (EBAY), where he led the Marketplace Technology, Science and Data global organization. He is a 20-year veteran of Microsoft (MSFT), where he founded and led the engineering and product teams on Search -- which later became Bing -- and played an important role in Microsoft’s transition to large-scale services. Reference Link
July 14, 2014
16:41 EDTINTCIntel initiated with an Outperform at Imperial Capital
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16:30 EDTAAPLOn The Fly: Closing Wrap
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16:00 EDTAAPLOptions Update; July 14, 2014
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13:02 EDTINTCIntel technical comments ahead of earnings
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12:21 EDTAAPLOn The Fly: Midday Wrap
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10:18 EDTAAPLGT Advanced retreats after downgrade citing production concerns
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10:00 EDTAAPLOn The Fly: Analyst Upgrade Summary
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09:36 EDTAAPLActive equity options trading on open
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09:16 EDTAAPLOn The Fly: Pre-market Movers
HIGHER: Citigroup (C), up 3.6% after reporting better than expected Q2 results, announcing $7B settlement with DOJ and FDIC... Apple (AAPL), up 0.7% after Barclays upgrades stock to Overweight, Morgan Stanley raises Apple estimates above consensus... Shire (SHPG), up 1.6% after receiving revised proposal from AbbVie (ABBV) of GPB 53.20 per share, which it says it would be willing to recommend to Shire shareholders. AbbVie is down 2.8% after the news... Mylan (MYL), up 4% after acquiring Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in all-stock transaction valued at about $5.3B. Abbott up 1.6% after the news... Progenics (PGNX), up 13% after FDA says RELISTOR can be approved on data submitted in sNDA... Exelixis (EXEL), up 13% after announcing coBRIM Phase 3 trial met primary endpoint... URS (URS) up 8% after acquired by AECOM Technology (ACM) for $56.31 per share. AECOM shares alos up 2% after deal announcement... Whiting Petroleum (WLL), up 4.5% after agreeing to acquire Kodiak Oil & Gas (KOG) in a $6B transaction. Kodiak Oil & Gas up 3%... Kandi Technologies (KNDI), up 11% after announcing JV's sale of 4,114 EVs in Q2. LOWER: Riverbed (RVBD), down 4.5% after saying it sees its Q2 adjusted EPS at low end of 26c-28c range... Harmonic (HLIT), down 13% after reporting preliminary Q2 earnings results.. EBay (EBAY), down 0.5% after downgraded at Pacific Crest, confirming partnership plans with Sotheby's (BID).
09:14 EDTINTCSemiconductor top picks at Topeka
Topeka's anticipates strong unit growth in the smartphone, tablet and wearable end markets and recommends exposure to large/mid cap growth names Intel (INTC), Skyworks (SWKS), Atmel and (ATML), small cap growth name, Rambus (RMBS), and value names Freescale (FSL), Spansion (CODE) and Silicon Motion (SIMO).
09:14 EDTAAPLApple's iCloud Mail experiencing an outage for some users
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09:07 EDTINTCMellanox Q3 guidance likely to be conservative, says Janney Capital
Janney Capital said it expects Mellanox' (MLNX) Q2 revenue to be in-line and for its Q3 guidance to be conservative, as the firm believes the High Performance Computing market has temporarily slowed ahead of Intel's (INTC) release of its Grantley processors. However, the firm thinks that HPC will recover soon and it maintains its Buy rating and $57 fair value estimate on Mellanox.
08:52 EDTINTCIntel volatility increases into Q2 and outlook
Intel July call option implied volatility is at 27, August is at 20, October is at 18; compared to its 26-week average of 19 according to Track Data, suggesting non-directional price movement into the expected release of Q2 on July 15.
08:46 EDTMSFTItron selects Microsoft Azure as preferred cloud platform
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08:34 EDTINTC, MSFTPC market stability could be short-lived, Reuters says
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08:04 EDTAAPLInvenSense should be bought ahead of results, says Pacific Crest
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07:48 EDTMSFTQuantum computer company D-Wave may come public, FT says
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07:41 EDTAAPL, AAPLGT Advanced 's 2014 guidance at risk, says CLSA
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07:24 EDTAAPLApple may not release 5.5-inch 'phablet' iPhone this year, Apple Insider reports
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07:24 EDTAAPLApple estimates raised above consensus at Morgan Stanley
Morgan Stanley's survey results suggests June quarter iPhone demand upside. The firm raised its iPhone unit estimate to 36M from 34M and increased its EPS estimate to $1.24 from $1.18, vs. consensus of $1.22 and 2015 EPS estimate to $2.33 from $2.25, 11% above consensus. The analyst added iWatch estimates into its model and sees unit sales in the 30M-60M range for the firm 12 months. Shares are rated Overweight with a $110 price target, up from $98.57.
06:40 EDTAAPLApple responds to China broadcaster's privacy charges, China Daily says
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06:08 EDTAAPLABI Research: Over 24M cars to be fitted with Apple CarPlay, DigiTimes says
ABI Research said that over 24M cars will be fitted with Apple (AAPL) CarPlay in 2019, reports DigiTimes. ABI Reserch said that the uptake in MirrorLink will also be fairly significant, but predicts more cars will be fitted with CarPlay. It cites several car makers to have the capabilities, including Ford (F), BMW, Audi, Mercedes, Jaguar/Land Rover, Toyota (TM), Nissan (NSANY), and Volvo (VOLVY). Reference Link
06:08 EDTMSFTMicrosoft confirms plans to discontinue MapPoint, Streets & Tips
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06:05 EDTMSFTMicrosoft to expand coverage of free Windows licensing, DigiTimes reports
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05:44 EDTAAPLApple upgraded to Overweight from Equal Weight at Barclays
Barclays upgraded its rating on Apple (AAPL) shares to Overweight citing its channel checks which indicate near-term upside to consensus estimates and strong new products into 2015. The firm also believes troubles at Samsung are creating an opportunity for Apple to regain market share. Barclays raised its price target for Apple shares to $110 from $95. The stock closed Friday at $95.22.
July 13, 2014
23:24 EDTAAPLApple assures China iPhone no security risk, Bloomberg says
Apple responded to statements made on China state media about the iPhone being a national security risk by explaining that location tracking functions of its software can’t be used to identify activity of individuals in China, says Bloomberg. Reference Link
20:38 EDTAAPLChina state media says Apple iPhone security danger, Reuters reports
China's state media says Apple's iPhone is a threat to the country's national security because of the devices ability to track and time-stamp user locations, says Reuters. Reference Link
17:49 EDTAAPLOmniVision could see improvement after Apple, Barron's says
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July 12, 2014
18:33 EDTINTC, AAPLIntel looks to Chinese unbranded makers to boost tablet presence, WSJ says
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16:27 EDTAAPLApple wins live streaming case brought by Emblaze, Bloomberg says
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July 11, 2014
15:59 EDTAAPLOptions Update; July 11, 2014
iPath S&P 500 VIX Short-Term Futures down 33c to 28.25. Option volume leaders: AAPL C GILD X FB GOOG AMZN TWTR TSLA according to Track Data.
11:57 EDTMSFTMicrosoft acquires InMage, terms not disclosed
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10:17 EDTAAPLFirm raises Apple price target on iPhone 6 optimism
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09:37 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFC C SUNE FB AMZN TSLA TWTR
09:14 EDTAAPLSanDisk has several positive catalysts, says Sterne Agee
Sterne Agee expects SanDisk (SNDK) to benefit from several developments, including a strengthening high margin retail market and new Apple (AAPL) products that will include embedded MCP and SSDs. The firm expects SanDisk to report solid June quarter results and guide to a stronger September quarter. It keeps a Buy rating.
08:49 EDTAAPLJune CIO survey indicates strong 2H, says Morgan Stanley
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08:25 EDTAAPLApple price target raised to $112 from $102 at Canaccord
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07:26 EDTAAPLApple, Coke on board with Obama 'SupplierPay' initiative, WSJ says
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07:04 EDTAAPLAnalyst Ming-Chi Kuo: iWatch to enter mass production in November, 9to5Mac says
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06:06 EDTINTCIntel to unveil 14nm processors, 10nm wafers at IDF in September, DigiTimes says
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July 10, 2014
16:00 EDTAAPLOptions Update; July 10, 2014
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14:14 EDTAAPLChinese telecom companies to cut marketing spending, WantChinaTimes says
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10:27 EDTAAPLInvenSense likely won designs across Apple product lines, says Rosenblatt
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10:22 EDTMSFTMicrosoft CEO prepares reshaping plans
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09:56 EDTAAPLApple reportedly orders 68M iPhone 6 units, Mac Rumors reports
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09:36 EDTAAPLActive equity options trading on open
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08:10 EDTAAPLMorgan Stanley's Vintage Values 2015 list selected
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07:54 EDTAAPLTSMC begins shipping microprocessors to Apple, WSJ reports
TSMC (TSM) has begun shipping microprocessors to Apple (AAPL) for use in smartphones and tablets, reports the Wall Street Journal. According to people familiar with the matter, TSMC began shipping the microprocessors in Q2 and agreed to work together on more advanced chips next year. Reference Link
06:29 EDTMSFTMicrosoft, Vitalwerks settle lawsuit, WSJ reports
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06:26 EDTAAPL, MSFTTablet quarterly shipments fall for first time to 56M on year, DigiTimes says
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06:18 EDTMSFT, AAPLIDC: PC shipments in mature regions stabilizes market in Q2, DigiTimes
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05:57 EDTAAPLApple wins EU trademark for store layouts, AP reports
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July 9, 2014
18:17 EDTAAPLHP, Lenovo shares up fractionally following PC shipment data
Shares of HP (HPQ) and Lenovo (LNVGY) are up fractionally after second quarter PC shipment data was released by Gartner and IDC. WHAT'S NEW: After eight quarters of declining shipments, worldwide PC shipments experienced flat growth in the second quarter of 2014, according to preliminary results by Gartner (IT). Worldwide PC shipments totaled 75.8M units in the second quarter, a 0.1% increase from the second quarter of 2013. According to the International Data Corporation, or IDC, Worldwide Quarterly PC Tracker, Worldwide PC shipments totaled 74.4M units in the second quarter of, a year-on-year decline of -1.7%. The results reflect the smallest decline in global PC shipments since the second quarter of 2012 when declining shipments of mini notebooks combined with a surge in tablet sales to disrupt the PC market. WHAT'S NOTABLE: According to IDC, the U.S. market showed strong 6.9% year-on-year growth in the second quarter. Continuing upgrades of Windows XP systems boosted shipments in commercial portables and desktops, helping the commercial segment. At the same time, retail acceptance of emerging product categories such as Chromebooks and ultraslims helped the consumer segment to stabilize. HP continued to hold the lead and gained 2% market share while four of the top 5 vendors experienced double-digit growth for the quarter. Lenovo and Toshiba (TOSBF) took advantage of some consumer interest in Windows 8 and a push to build up their presence in large enterprises. According to Gartner, Lenovo extended its lead as the leader in worldwide PC shipments, as its worldwide market share increased to 19.2%. Lenovo’s PC shipments grew by double-digits in all regions except Asia/Pacific. Lenovo’s shipment growth in Asia/Pacific was still faster than the regional average. OTHERS TO WATCH: Apple (AAPL), down marginally.
16:01 EDTAAPLOptions Update; July 9, 2014
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12:54 EDTAAPLGarmin tumbles after analyst sees risk from GoPro, Apple products
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11:00 EDTMSFTWells says VMware growth could slow, downgrades shares
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10:20 EDTAAPL, INTCReport says Intel delaying Broadwell chip shipment, MacRumors says
Intel (INTC) has decided to further postpone the shipping of its line of 14-nanometer Broadwell chips, which are anticipated to be included in future versions of the Apple's (AAPL) MacBook Air, Retina MacBook Pro, and iMac, according to MacRumors, citing a report on Chinese site VR Zone. Reference Link
09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AA FB AMZN TSLA TWTR MU NFLX GG CELG
08:31 EDTMSFTVMware CEO sees EMC helping it remain independent, WSJ reports
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07:45 EDTAAPLCostco selling Apple products again, says Jefferies
Jefferies says that starting in late June, Costco (COST) began selling Apple (AAPL) products in stores and online again, after not carrying the brand since 2010. The firm thinks the move will help Costco's weaker performing Consumer Electronics category. Jefferies expects Costco to report a June comp store sales increase of 5%-6% and keeps a Hold rating on the stock.
07:10 EDTAAPLApple price target raised to $105 from $90 at Mizuho
Mizuho expects Apple to report an inline Q3 but sees upside to Q4 and expects revenue guidance to be $1B-$2B above consensus and EPS upside of 5c-10c. The firm expects 2H 2014 stock gains to be driven by the strong product cycle. Shares are Buy rated with a $105 price target, up from $90.
07:10 EDTAAPLDisney ceases on-demand movie sales in Japan via iTunes, Reuters says
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06:58 EDTAAPLApple hires two Nike FuelBand engineers, Apple Insider erports
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06:46 EDTAAPLApple loses patent suit in China, Reuters says
Apple (AAPL) had taken Shanghai-based Zhizhen Internet Technology and China's State Intellectual Property Office to court in hopes that the court would rule that Zhizhen's patent rights to a speech recognition technology were invalid, but the Beijing First Intermediate Court decided in favor of Zhizhen, according to Reuters, citing a report from the People's Daily state newspaper in China. After the ruling, the report noted that Apple is aiming to take the case to the Beijing Higher People's Court. Reference Link
06:36 EDTMSFTMicrosoft warns of support deadlines for Windows 7
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06:34 EDTAAPL, INTCFake document hits federal court in hiring case against tech giants, WSJ says
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06:31 EDTAAPLFTC may probe Google over child app purchases, Politico says
After the Federal Trade Commission cracked down on apps previously available on Apple (AAPL) devices that let children spend money without their parents' permission, Apple told the FTC that similar apps are available on Google's (GOOG) app store, according to Politico. As a result, the FTC may investigate Google over this issue, Politico stated. Reference Link
06:24 EDTMSFTGoogle Cloud Storage offering 2 TB of free storage through partner, WSJ reports
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05:54 EDTAAPLGarmin downgraded to Underperform from Sector Perform at Pacific Crest
Pacific Crest downgraded its rating on Garmin (GRMN) to Underperform saying any action camera optimism is likely to end in disappoint while Apple's (AAPL) potential watch announcement could create "substantial" headline and competitive risk. Pacific Crest believes Garmin shares may be overvalued and sees fair value for the stock in the mid-$40 range. The stock closed yesterday at $60.63.
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