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Stock Market & Financial Investment News

News For MSFT;INTC;DELL;HPQ;WDC;STX;EMC;QCOM From The Last 14 Days
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January 30, 2015
16:28 EDTQCOM, MSFTMarket finishes week lower as earnings, GDP miss drag down stocks
Stocks ended the week lower as several major companies reported weaker than expected results or gave disappointing guidance and a number of U.S. economic data points came in below the consensus outlook. MACRO NEWS: The Federal Reserve reiterated that it would exercise patience in deciding when to raise interest rates. The central bank added that economic growth was expanding at a "solid" pace... U.S. economic data was mixed, as Q4 GDP growth, durable goods orders for December, and pending home sales came in below expectations, but weekly jobless claims and new home sales for December beat expectations... In Europe, the annual cost of living in the euro zone currency bloc fell 0.6% in January, versus analysts' forecast for a fall of 0.5%. However, the bloc's unemployment rate inched down to 11.4% in December from 11.5% in November. Analysts had expected the unemployment rate to remain unchanged. COMPANY NEWS: Apple's (AAPL) shares rose after the company reported record results, beating analysts' expectations. The company sold 74.5M iPhones last quarter, a figure that also beat the consensus outlook... Visa (V), Boeing (BA), Amazon.com (AMZN), Google (GOOG), and video game maker Electronic Arts (EA) were among the companies that rose following their earnings reports. Facebook (FB) reported stronger than expected results but its stock was little changed on the week... Microsoft (MSFT), Caterpillar (CAT), Qualcomm (QCOM), Alibaba (BABA), DuPont (DD), and 3M (MMM) fell after reporting their results... Yahoo (YHOO) announced that it plans to spin off its stake in Alibaba later this year in a tax-free transaction. The announcement led to speculation that Yahoo could become a takeover target... McDonald's (MCD) announced that its CEO, Don Thompson, would step down and be replaced by its current Chief Brand Officer, Steve Easterbrook. Its stock reacted favorably to the executive change... Qualcomm (QCOM) cut its fiscal 2015 guidance and announced that its Snapdragon 810 processor will not be in the upcoming design cycle of a large customer's flagship device. A number of analysts and media outlets said that Samsung was the company to which Qualcomm was referring. INDEXES: For the week, the Dow is down 2.83% to 17,164.95, the Nasdaq is down 2.56% to 4,635.24, and the S&P is down 2.77% to 1,994.99.
09:02 EDTEMCEMC valuation and capital return should support shares, says Brean Capital
Brean Capital believes EMC's valuation and capital return strategy should support its shares. The firm also sees robust free cash flow and expects its higher growth offerings to help revenue generation. Brean Capital reiterated its Buy rating but lowered its price target to $31 from $33 on EMC.
08:39 EDTMSFTXbox Live outage due to erroneous software, not hackers, Business Insider says
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06:00 EDTMSFTStocks with implied volatility below IV index mean; MSFT NFLX
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January 29, 2015
16:55 EDTQCOMOn The Fly: Closing Wrap
Stocks on Wall Street struggled for direction for the first half of the session, making several passes across the flat line. The market seemed ready for a positive day after better than expected jobless claims data, and the buyers finally emerged in the second half of the day. The past two days had taken almost 500 points from the Dow, though the blue chip index ended up recapturing about half of those losses with its gains today. ECONOMIC EVENTS: In the U.S., jobless claims plunged by 43K to 265K last week, versus expectations for 300K first-time claims. That was the lowest weekly level in nearly 15 years, though the government cautioned that the inclusion of the Martin Luther King holiday makes the data more difficult to calculate. The pending home sales index dropped 3.7% to 100.7 in December, versus expectations for it to have risen 0.5%. COMPANY NEWS: McDonald's (MCD) was the best performing member of the Dow Jones Industrial Average, rising $4.49, or 5.06%, to $93.27 after announcing last night that Don Thompson will retire as president and CEO on March 1. Steve Easterbrook, who was previously senior executive VP and Chief Brand Officer, was selected to replace Thompson as CEO... Chinese e-commerce giant Alibaba (BABA) reported fourth quarter earnings per share, excluding certain items, that beat analysts' consensus estimate, but its revenue came in below expectations. Shares fell $8.64, or 8.78%, to $89.81 following the report. Yahoo (YHOO), which earlier this week announced that it plans to spin-off its remaining stake in Alibaba in a tax-free transaction, dropped $2.73, or 5.88%, to $43.73 in sympathy. MAJOR MOVERS: Among the notable gainers was Coach (COH), which rose $2.48, or 6.8%, to $38.94 after the luxury handbag maker reported better than expected earnings. Also higher was K12 (LRN), which jumped $3.35, or 30.32%, to $14.40 after its second quarter earnings and revenue topped expectations. Among the noteworthy losers was Qualcomm (QCOM), which declined $7.30, or 10.28%, to $63.69 after the chip maker lowered its outlook for fiscal 2015. It also announced that its Snapdragon 810 processor will not be in the upcoming design cycle of a large customer's flagship device, which is widely believed to be Samsung's next generation Galaxy S phone. Also lower were shares of specialty chemicals company Albemarle (ALB), which dropped $7.60, or 13.73%, to $47.77 after the company reported Q4 adjusted EPS and revenue that missed analysts' consensus forecasts and guided toward FY15 revenue and profits that also were below expectations. INDEXES: The Dow rose 225.48, or 1.31%, to 17,416.85, the Nasdaq gained 45.41, or 0.98%, to 4,683.41, and the S&P 500 added 19.09, or 0.95%, to 2,021.25.
15:48 EDTQCOMQualcomm guidance cut more than accounted for by pullback, says Argus
Argus believes the post-earnings report slide in Qualcomm more than reflects the company's guidance cut, while shares are not fully factoring in positives like its resolution of a dispute with a licensee in China. The firm lowered its price target on Qualcomm to $80 from $89, but maintains its Buy rating on the name.
13:17 EDTMSFTEarnings Preview: Amazon sees Q4 revenue $27.3B-$30.3B
Amazon.com (AMZN) is expected to report fourth quarter earnings after the market close on Thursday, January 29 with a conference call scheduled for 5:00 pm ET. Amazon.com is an online retail company that also provides consumer electronics and cloud computing services. EXPECTATIONS: Analysts are looking for earnings per share of 17c on revenue of $29.67B. The consensus range is (41c)-56c for EPS, and $28.83B-$30.24B for revenue, according to First Call. LAST QUARTER: Amazon.com reported third quarter EPS of (96c) against estimates of (74c), on revenue of $20.58B against estimates of $20.84B. The company gave Q4 revenue guidance of $27.3B-$30.3B and Q4 operating income guidance of ($570M)-$430M, compared to $510M in the year-ago period. Amazon also reported Q3 operating cash flow up 15% to $5.71B. During its Q3 earnings conference call, Amazon reported Q3 active customer accounts exceeded 260M and said it viewed international as a "big opportunity" for growth. The company also said it was seeing "great growth" in Prime and noted that it was not planning to change the price. NEWS: During the quarter, Amazon's Audible unit acquired online comedy service Rooftop Media for an undisclosed amount and its Twitch platform acquired GoodGame; Amazon also acquired Annapurna Labs, an Israeli startup. The company said it plans to create more than 1,000 full-time jobs with a $75M in investment in Illinois. China Daily said Amazon would enable Chinese consumers to shop on its overseas websites and The Globe and Mail said Amazon would offer same-day shipping in Canada. During the fall, Amazon experimented with utilizing taxi cab services as a delivery method throughout San Francisco and Los Angeles using the mobile app Flywheel, according to The Wall Street Journal. Amazon's Fire TV Stick started shipping in November for $39 and outfitted several U.S. warehouses with wheeled robots that move stocked shelves to workers and are expected to speed delivery. Amazon Chief Executive Officer Jeff Bezos told Business Insider CEO Henry Blodget that the company has a succession plan in place. Amazon also announced the "Make an Offer" experience that allows customers to negotiate even lower prices on thousands of items and The Wall Street Journal said the company was practicing one-hour deliveries with bike messengers in New York City. European regulators said Amazon's tax arrangements in Luxembourg could give the company an illegal advantage over competitors and that the method Luxembourg used to calculate taxes payable by Amazon did not comply with international guidelines.U.S. technology giants like Amazon, Google (GOOG), Facebook (FB), Microsoft (MSFT) and others are "very worried" about the backlash they are now facing in Europe and U.S. companies may now remove services in some European countries because it isn’t worth the trouble and cost to cater to local laws in some of those countries, said The Wall Street Journal. Scott Wapner of CNBC stated on Twitter that sources tell him that Carl Icahn has "no stake at all" in Amazon, which had moved higher earlier amid rumors of Icahn getting involved in the stock. Most recently, Amazon said its Amazon Studios unit will begin to produce and acquire original movies for theatrical release and early window distribution on Amazon Prime Instant Video. The company also discontinued its Amazon Elements line of diapers after less than two months. Additionally, Amazon announced Amazon WorkMail, an email and calendar service. STREET RESEARCH: Robert W. Baird believes Amazon WorkMail could lead to software-as-a-service solutions that could produce $10B + in revenue for Amazon. The firm keeps a $340 price target and Outperform rating on Amazon. Piper Jaffray, which has an Overweight rating and $400 price target on the stock, believes Amazon.com shares are pricing in a soft margin outlook ahead of the company's December quarter results. Piper says that while it is unsure about near-term margins, it thinks any upside would be rewarded disproportionately. It also thinks the market is already expecting 2015 revenue to come down by 1%-2% due to currency moves. JPMorgan keeps a Neutral rating on Amazon.com ahead of the company's Q4 results but says it is "warming up" to the stock. The firm believes Prime subscriber growth has been strong worldwide and raised its price target for shares to $323 from $307. PRICE ACTION: Amazon.com shares have increased over 3.7% over the last three months. In Thursday trading ahead of the Q4 report, Amazon.com shares are up fractionally.
12:54 EDTQCOMOn The Fly: Midday Wrap
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11:53 EDTQCOMQualcomm sinks after cutting outlook, confirming being dropped in Galaxy
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10:19 EDTQCOMQualcomm falls after earnings, levels to watch
The stock is down over 9.5% to $64.19 at time of writing, near the low of the day at $63.74 which is now support. If the low of the session is taken out, next support would be at $62.21. Resistance is at $65.51, the opening price of the session.
10:00 EDTQCOM, MSFTOn The Fly: Analyst Downgrade Summary
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09:08 EDTEMCEMC announces restructuring plan with 'reduction in force'
EMC earlier today said its management approved a restructuring plan. The plan consists of a "reduction in force which will be substantially completed by the end of the first quarter of 2015 and fully completed by the end of 2015." The total charge resulting from this plan is expected to be approximately $130M-$150M, with total cash payments associated with the plan expected to be in the range of $120M-$140M.
09:06 EDTQCOMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Flextronics (FLEX), up 6%... Coach (COH), up 6.3%... Autoliv (ALV), up 4.3%... Dow Chemical (DOW), up 3.5%... Ford (F), up 0.8%. ALSO HIGHER: McDonald's (MCD), up 3% after announcing CEO change...Xencor (XNCR), up 19% after reporting results from two trials... Pluristem Therapeutics (PSTI), up 8% after providing update and outlook on trials and pipeline... Avon Products (AVP), up 2.3% after naming James Scully as CFO... Omeros (OMER), up 6% after 2.996M share spot secondary priced at $20.03. DOWN AFTER EARNINGS: Alibaba (BABA), down 8%... Qualcomm (QCOM), down 6.8%... Alexion (ALXN), down 1.1% after reporting fourth quarter results, fiscal 2015 guidance, and CEO appointment. ALSO LOWER: Yahoo (YHOO), down 7% following Alibaba earnings report... Venaxis (APPY), down 72% after its APPY1 Test was determined by the FDA to not meet the criteria for substantial equivalence.
08:04 EDTMSFTMicrosoft downgraded to Underweight from Neutral at Atlantic Equities
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07:50 EDTQCOMQualcomm should be bought on weakness, says JMP Securities
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07:27 EDTQCOM, MSFTU.S. groups ask China to re-examine new cybersecurity rules, WSJ reports
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07:25 EDTQCOMQualcomm price target lowered to $75-$85 from $80-$90 at Wells Fargo
Wells Fargo cut its price target on Qualcomm after the company reported higher than expected EPS, but lowered its full-year guidance following the loss of a major customer. The firm assumes that Samsung has decided not to use Qualcomm's snapdragon chip in the next generation Galaxy S phone, but it keeps an Outperform rating on Qualcomm.
07:24 EDTQCOMQualcomm downgraded to Neutral from Outperform at Macquarie
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07:18 EDTQCOMQualcomm downgraded to Market Perform from Outperform at Northland
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07:17 EDTQCOMQualcomm downgraded to Neutral from Buy at UBS
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07:04 EDTMSFT, QCOMChina implementing new requirements for some tech companies, NY Times says
China is forcing companies which sell computer equipment to Chinese banks to divulge secret source code and submit to audits, according to The New York Times. It is also requiring such companies to provide the government with access to hardware and software products, the newspaper indicated. Cisco (CSCO), Qualcomm (QCOM), and Microsoft (MSFT) have raised issues about accessing the Chinese market, while Apple (AAPL) is looking to increase its business in the country, the newspaper added. Reference Link
07:00 EDTEMCEMC sees FY15 EPS $1.98, consensus $2.13
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06:58 EDTEMCEMC reports Q4 EPS 69c, consensus 68c
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06:20 EDTMSFTMicrosoft to release Outlook on iOS, Outlook and Office on Android, Re/code says
Microsoft (MSFT) is releasing on Thursday an Apple iOS (AAPL) version of its Outlook email software as well as a preview of an Android version, reports Re/code. The apps will support Microsoft's own email service as well as Google Gmail (GOOG), iCloud, and Yahoo (YHOO) email accounts. The company is also launching full versions of its Word, Excel, and PowerPoint apps for Android. Reference Link
06:14 EDTQCOMQualcomm fundamentals should stabilize in FY16, says Citigroup
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05:58 EDTQCOMStocks with implied volatility above IV index mean; QCOM FB
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05:47 EDTQCOMRoche, Qualcomm collaborate on remote patient monitoring
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January 28, 2015
18:21 EDTQCOMOn The Fly: After Hours Movers
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17:49 EDTQCOMQualcomm says seeing heightened competition in China in low, mid tiers
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16:53 EDTQCOMQualcomm comments on resolution of dispute with licensee in China
The company said, "We resolved the previously disclosed dispute with a licensee in China in the first quarter of fiscal 2015. However, we continue to believe that certain licensees in China are not fully complying with their contractual obligations to report their sales of licensed products to us (which includes certain licensees underreporting a portion of their 3G/4G device sales) and that unlicensed companies may seek to delay execution of new licenses while the NDRC investigation is ongoing. We are taking steps to address these issues, although the outcome and timing of any resolutions are uncertain. We expect global 3G/4G device shipments to be approximately 1.35 billion for calendar year 2014. However, due to the issues described above, we do not believe that all of the global 3G/4G device shipments for calendar year 2014 will be reported to us within the time periods required by our license agreements. Accordingly, we currently estimate approximately 1.135 billion to 1.175 billion calendar year 2014 3G/4G device shipments will actually be reported to us through the first calendar quarter of 2015. We expect global 3G/4G device shipments to be approximately 1.5 billion to 1.6 billion for calendar year 2015. At this time, we are not providing a forecast for calendar year 2015 reported 3G/4G device shipments."
16:35 EDTQCOMQualcomm falls further after hours, levels to watch
Initial support post-earnings was at $66, but that level has now become resistance. At the current price of $65.55 next support is at $64.47.
16:19 EDTQCOMQualcomm cuts 2H15 outlook for semiconductor business
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16:09 EDTQCOMQualcomm down over 5% following Q1 results, lowered guidance
16:09 EDTQCOMQualcomm sees Q2 MSM chip shipments 220M-240M
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16:09 EDTQCOMQualcomm trades down after results, levels to watch
Shares are lower by over 4.5% at time of writing to $67.50 following earnings in the extended session. That is a new 52-week low. Next support at that price is at $66.
16:08 EDTQCOMQualcomm sees FY15 total device sales approx $245B-$270B
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16:06 EDTQCOMQualcomm CEO comments on lowered FY15 outlook
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16:05 EDTQCOMQualcomm lowers FY15 adjusted EPS view to $4.75-$5.05 from $5.05-$5.35
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16:03 EDTQCOMQualcomm lowers FY15 outlook
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16:03 EDTQCOMQualcomm sees Q2 EPS $1.28-$1.40, consensus $1.28
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16:02 EDTQCOMQualcomm reports Q1 adjusted EPS $1.34, consensus $1.25
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15:37 EDTQCOMNotable companies reporting after market close
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15:07 EDTQCOMQualcomm January weekly 71.5 straddle priced for 4.9% movement into Q1
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14:16 EDTQCOMQualcomm January weekly volatility elevated into Q1 and outlook
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13:51 EDTMSFTAmazon.com will launch WorkMail, an email and calendar service, WSJ reports
Amazon (AMZN) plans to launch WorkMail, an email and electronic calendar service, hoping to compete against Microsoft (MSFT) and Google (GOOG) in the corporate-email marketplace, Wall Street Journal reports. The company hopes that its sales pitch of "simplicity and security" will pull customers in. Reference Link
13:02 EDTQCOMEarnings Preview: Qualcomm to report results amid antitrust probes
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12:41 EDTEMCEarnings Preview: Firm says EMC could unveil share repurchases, restructuring
EMC (EMC) is scheduled to report fourth quarter earnings before the open on Thursday, January 29, with a conference call scheduled for 8:30 am ET. EMC is a provider of IT infrastructure. EXPECTATIONS: Analysts expect the company to report earnings per share of 68c on revenue of $7.1B. The consensus range is 67c-70c for EPS and $7B-$7.2B for revenue. LAST QUARTER: EMC reported slightly lower than expected profit and slightly higher than expected revenue for the third quarter. Its fiscal 2014 guidance was roughly in-line. EMC said that it would adopt an aggressive stance during fiscal 2015, which started recently, when it comes to returning cash to shareholders. The company said that it would not comment on speculation that it had held talks about selling the company to HP (HPQ). On November 5, David Einhorn’s Greenlight Capital revealed that it had taken a "medium-sized" long position in EMC. RECENT NEWS: On January 12, EMC agreed to add two men backed by activist investor Elliott Management to its board. In return, Elliott, which had been pushing EMC to break itself up, entered into a limited standstill agreement with EMC. Under the framework of that deal, Elliott pledged to back EMC’s other proposed directors at the company's next shareholder meeting, scheduled to take place on April 30. Elliott has a $1B stake in EMC. STREET RESEARCH: In a note to investors on January 26, Wells Fargo predicted that EMC’s results could beat expectations, driven by catch-up spending on storage solutions after soft spending trends in the first half 2014, Wells stated. On other other hand, EMC’s 2015 EPS guidance could miss expectations, as other analysts may not have adequately calculated the effects of the company’s acquisition, the firm stated. But EMC could increase the size of its share repurchases or announce a restructuring initiative that could offset any negative effects of the VCE deal on its EPS, Wells believes,. The firm views the stock as a core long-term holding, as it believes that the company’s current investments in new technologies will drive growth and earnings leverage, especially in 2016 and later In a note to investors on January 26, research firm Pacific Crest wrote that EMC’s 2015 EPS guidance could miss expectations, due to all the costs generated by VCE and EMC’s investments in next-generation technologies. However, EMC’s share gains and profit growth should accelerate in 2016, making it a good stock for investors to buy opportunistically this year, the firm advised. It kept a $30 price target and Outperform rating on the stock. PRICE ACTION: EMC's stock is down 11.5% in the last month, but the shares are still up 7.7% over the last twelve months.
09:59 EDTWDCOn The Fly: Analyst Upgrade Summary
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09:15 EDTWDCOn The Fly: Pre-market Movers
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08:54 EDTWDCWestern Digital upgraded to Buy from Neutral at Longbow
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08:48 EDTWDCWestern Digital free cash flow underappreciated, says Brean Capital
Brean Capital believes the free cash flow story at Western Digital remains underappreciated. The firm also expects margins to expand, capital returns to increase, and for the company to execute on M&A. Brean Capital reiterated its Buy rating and $150 price target on Western Digital shares.
08:39 EDTWDCWestern Digital reported good results, says Pacific Crest
Pacific Crest says that a mix shift towards enterprise drives is lifting Western Digital's margins. The firm continues to recommend buying the shares.
08:06 EDTMSFTMicrosoft stops production of Surface 2 tablet in favor of Surface 3, Verge says
Microsoft announced it is no longer manufacturing its Surface 2 tablet in favor of focusing on the more popular Surface 3, reports The Verge. The Surface 2 is Microsoft's last remaining device to run on its mobile operating system Windows RT, indicating a shift towards traditional editions of Windows. Reference Link
07:59 EDTMSFTSenate Homeland Security & Government Affairs Committee to hold a hearing
The Committee holds a hearing entitled, "Protecting America from Cyber Attacks: The Importance of Information Sharing" with EVP of American Express, Marc Gordon, VP of Microsoft, Scott Charney, EVP of Marsh & McLennan, Peter Beshar and Chief Security Strategist of FireEye, Richard Bejtlich, on January 28 at 2:30 pm. Webcast Link
07:54 EDTWDCWestern Digital margin, market share loss concerns overblown, says Susquehanna
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07:23 EDTINTC, MSFTIntel pullback yesterday a buying opportunity, says Jefferies
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05:58 EDTQCOM, INTCIntel cooperates with Spreadtrum, Rockchip to enter China market, DigiTimes says
Intel (INTC) has cooperated with and Rockchip Electronics to rpomote its platforms in the China market, reports DigiTimes. According to Taiwan-based supply chain makers, the move is to compete with Qualcomm (QCOM) and Mediatek for smartphone and tablet use chip solutions. Intel is set to ship 44M tablet processors in 2015. Reference Link
05:48 EDTINTCStocks with implied volatility movement; INTC QQQ
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January 27, 2015
18:46 EDTWDCWestern Digital says no plans to change current capital allocation
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18:20 EDTEMC, WDCOn The Fly: After Hours Movers
UP AFTER EARNINGS: ABIOMED (ABMD), up 27%... Yahoo (YHOO), up 7.2% after reporting fourth quarter results and that it is planning a tax-free spin-off of remaining Alibaba (BABA) stake... Freescale Semiconductor (FSL), up 10%... Marten Transport (MRTN), up 6%... U.S. Steel (X), up 9.2%... Key Tronic (KTCC), up 4%... Juniper Networks (JNPR), up 4.4%... Western Digital (WDC), consensus 2.6%... Electronic Arts (EA), up 4.8%... VMware (VMW), up 1.7%... AT&T (T), up 1.9%... Apple (AAPL), up 5.1%. ALSO HIGHER: Cirrus Logic (CRUS), up 2.9%, Skyworks (SWKS), up 1.3%, NXP Semiconductors (NXPI), up 1.5%, and Qorvo (QRVO), up 1% following Apple's first quarter results... EMC (EMC), up 2.1% following VMware's fourth quarter results... Alibaba (BABA), up marginally following Yahoo results and tax-free spin-off plans... DOWN AFTER EARNINGS: Ethan Allen (ETH), down 13.1%... EZCORP (EZPW), down 7.1%... International Game Technology (IGT), down 2.9%... Open Text (OTEX), down 4.4%. ALSO LOWER: Synergy Resources (SYRG), down 3.7% after filing to sell $150M of common stock.
18:17 EDTWDCWestern Digital sees Q3 adjusted EPS $1.90-$2.00, consensus $1.99
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18:11 EDTWDCWestern Digital reports Q2 adjusted gross margin 30.5%
Comment from company's Q2 earnings conference call.
16:31 EDTMSFTOn The Fly: Closing Wrap
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16:18 EDTWDCWestern Digital generates $243M in cash from operations in Q2
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16:18 EDTWDCWestern Digital repuchased 3.2M shares during Q2
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16:16 EDTWDCWestern Digital reports Q2 adjusted EPS $2.26, consensus $2.10
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15:35 EDTWDCNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Apple (AAPL), consensus $2.60; AT&T (T), consensus 55c; Amgen (AMGN), consensus $2.05; Yahoo (YHOO), consensus 29c; ACE (ACE), consensus $2.29; Stryker (SYK), consensus $1.45; Western Digital (WDC), consensus $2.10; Electronic Arts (EA), consensus 92c; Juniper (JNPR), consensus 31c; Total System Services (TSS), consensus 53c; Freescale Semiconductor (FSL), consensus 33c; Amdocs (DOX), consensus 81c; VMware (VMW), consensus $1.07; International Game Technology (IGT), consensus 25c; United States Steel (X), consensus 87c; Cytec (CYT), consensus 61c.
14:41 EDTWDCWestern Digital technical notes ahead of earnings
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13:43 EDTINTCIntel would not let AMD x86 license 'fall into hands' of China, Hesseldahl says
Following a Chinese language report claiming that Chinese company BLX IC Design could be interested in buying AMD (AMD), Re/code's Arik Hesseldahl said on Twitter that he believes there is "no way" Intel (INTC) would allow AMD's x86 license to fall into the hands of a China-based owner. AMD shares, which rose significantly yesterday, are up another 5.2% today in afternoon trading. Reference Link
13:16 EDTINTCAMD continues advance following Chinese report of takeover interest
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12:45 EDTQCOMQualcomm January weekly volatility elevated into Q1 and outlook
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12:28 EDTMSFTOn The Fly: Midday Wrap
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11:14 EDTINTC, MSFTMicrosoft sinks after outlook brings multiple downgrades
Shares of Microsoft (MSFT) are falling after the company last night issued guidance for its quarter ending in March that came in significantly below analysts' expectations. JPMorgan, Citigroup, MKM Partners and Nomura responded to the company's results by downgrading the stock. BACKGROUND: Microsoft's revenue guidance for its March quarter missed expectations, driven by U.S. dollar strength, and continued weakness in China, Russia and Japan, according to JPMorgan analyst Mark Murphy. The company's second quarter results were roughly in-line with expectations, but its software sales came in below the consensus outlook, as customers shifted to cheaper Web-based products. ANALYST REACTION: In a note to investors, JPMorgan's Murphy downgraded the stock to Neutral for Overweight. Microsoft plans to spend more money than anticipated going forward, according to the analyst, who consequently cut his fiscal 2015 earnings per share forecast for the company by 8%. The reduced profit outlook could delay the stock's move above $50, warned Murphy, who reduced his price target on the name to $47 from $53. But the analyst did note that the tech giant’s commercial cloud revenue growth jumped 114% year-over-year last quarter, a higher growth rate than during the same period a year earlier. Citigroup cut its rating on Microsoft to Sell from Neutral, saying that the company's earnings headwinds are becoming clearer. The firm set a $38 price target on the stock. Both Nomura and MKM Partners cut its ratings on the name to Neutral from Buy. PRICE ACTION: In late morning trading, Microsoft fell 9.55 to $42.50. Other companies
10:18 EDTHPQHP falls as Microsoft results hit PC-related stocks, levels to watch
The stock is down over 4.4% to $37.13 at time of writing. The move has triggered a bearish head and shoulders pattern on the daily chart, which has its neckline at $37.50. Downside potential for the pattern is to the $33 area. Next support is at $36.22. Resistance is at $37.46, the opening price of the day.
10:14 EDTINTCIntel drops after Microsoft results, levels to watch
Shares are down 4.6% to $34.15 at time of writing as Microsoft's (MSFT) results weigh on PC-related shares. At current price, next support is at $33, a recent pivot low. Resistance is at $34.79.
10:00 EDTMSFTOn the Fly: Analyst Downgrade Summary
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09:36 EDTMSFT, HPQActive equity options trading
Active equity options trading according to Track Data: AAPL MSFT TWTR TSLA GILD NFLX C AA HPQ X
09:17 EDTMSFTOn The Fly: Pre-market Movers
HIGHER: Silicon Image (SIMG), up 23% after signing agreement to be acquired by Lattice Semiconductor (LSCC)... USA Technologies (USAT), up 5% following nationwide roll-out of new Apple Pay points... TE Connectivity (TEL), up 3.9% following a Wall Street Journal report that the company is close to a deal with Commscope (COMM)... Select Comfort (SCSS), up 1% after being upgraded to Buy from Hold at Stifel. DOWN AFTER EARNINGS: Microsoft (MSFT), down 8.2%... Caterpillar (CAT), down 7.8%... Packaging Corp (PKG), down 8.3%... Peabody Energy (BTU), down 5.3%... Freeport-McMoRan (FCX), down 5.7%... Polaris Industries (PII), down 2.1%... United Technologies (UTX), down 2.3%... Procter & Gamble (PG), down 2.6%.
09:04 EDTEMCEMC January weekly volatility elevated into Q4 and outlook
EMC January weekly call option implied volatility is at 39, February is at 24, March is at 23; compared to its 26-week average of 24 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on January 29.
08:20 EDTMSFTFCC to hold a conference
Small Business and Emerging Technologies Conference is being held at FCC Washington, D.C. with webcasted presentations to begin at 9 am. Webcast Link
07:13 EDTMSFTMicrosoft downgraded to Hold from Buy at MKM Partners
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07:03 EDTMSFTMicrosoft shares extend losses as downgrades pile up
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06:53 EDTMSFTMicrosoft downgraded to Sell from Neutral at Citigroup
Citigroup downgraded Microsoft to Sell with a $38 price target after the company's March outlook came in well below expectations. Citi says Microsoft's earnings headwinds are becoming more clear. The stock was also downgraded this morning at JPMorgan and Nomura.
06:47 EDTMSFTMicrosoft downgraded to Neutral from Buy at Nomura
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06:42 EDTMSFTMicrosoft cloud business performed well in Q2, says Piper Jaffray
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06:26 EDTSTX, WDCSeagate likely lost share to Western Digital, says Citigroup
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06:09 EDTMSFTMicrosoft guidance 'shockingly low,' says Jefferies
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05:53 EDTHPQStocks with implied volatility movement; HP VALE
Stocks with implied volatility movement; HP (HPQ) 28, Vale (VALE) 57 according to iVolatility.
05:44 EDTMSFTMicrosoft downgraded to Neutral from Overweight at JPMorgan
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05:12 EDTSTXSeagate may aggressively buy back shares below $60, says Brean Capital
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January 26, 2015
18:28 EDTMSFTOn The Fly: After Hours Movers
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18:14 EDTMSFTMicrosoft sees Q3 Devices & Consumers, Other revenue approximately $2B
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18:04 EDTMSFTMicrosoft sees Q3 phone hardware revenue $1,4B-$1.5B
18:03 EDTMSFTMicrosoft sees Q3 computing and gaming revenue $1.5B-$1.7B
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18:02 EDTMSFTMicrosoft sees Q3 consumer licensing revenue $3.4B-$3.6B
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18:00 EDTMSFTMicrosoft anticipates lower gross margins over next few quarters
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17:57 EDTMSFTMicrosoft sees four point revenue impact from FX in Q3
17:46 EDTMSFTMicrosoft says results in China, Japan fell short of expectations in Q2
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17:36 EDTMSFTMicrosoft says Commercial Cloud run-rate $5.5B
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16:39 EDTSTXOn The Fly: Closing Wrap
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16:17 EDTMSFTMicrosoft shares drop 2% to $45.99 following Q2 results
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16:16 EDTMSFTMicrosoft reports Q2 Commercial revenue up 5% to $13.3B
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16:15 EDTMSFTMicrosoft reports Q2 Devices and Consumer revenue up 8% to $12.9B
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16:13 EDTMSFTMicrosoft expects to complete $40B share repurchase by end of 2016
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16:12 EDTMSFTMicrosoft says results include 6c of restructuring, IRS expenses
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16:11 EDTMSFTMicrosoft reports Q2 EPS 71c, consensus 71c
Reports Q2 revenue $26.5B, consensus $26.33B.
16:01 EDTMSFTOptions Update; January 26, 2015
iPath S&P 500 VIX Short-Term Futures down 1.47 to 30.63. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX X MSFT BP GILD according to Track Data.
15:32 EDTMSFTMicrosoft January weekly 47 straddle priced for 3.7% movement into Q2
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15:30 EDTMSFTNotable companies reporting after market close
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15:03 EDTHPQHP announces management teams for both companies
HP said it has been "working diligently to ensure that both HP Inc. and Hewlett-Packard Enterprise are set up for success." It added, "We are excited about the progress we’ve made and today we’re happy to share the first level of leadership for both companies. As we continue through this transition year, we will operate as HP and are focused on minimizing disruption to customers, partners and employees." Hewlett-Packard Enterprise will be lead by Meg Whitman as President and CEO, Cathie Lesjak as Chief Financial Officer, Henry Gomez as Chief Marketing and Communications Officer, John Hinshaw as Chief Customer Officer and lead Technology & Operations and Martin Fink as Chief Technology Officer. HP Inc. will be led by Dion Weisler as President and CEO, Jon Flaxman as Chief Operating Officer and Shane Wall as Chief Technology Officer.
14:10 EDTMSFTEarnings Preview: Analysts' opinions on Microsoft divided
Microsoft (MSFT) is scheduled to report results of its second quarter of fiscal year 2015 after the market close on Monday, January 26, with a conference call scheduled for 5:30 pm ET. Microsoft, a member of the Dow Jones Industrial Average, sells and licenses software to consumers and businesses, offers cloud computing and other business services, and markets hardware including the Xbox entertainment system, the Surface tablet and Windows smartphones. EXPECTATIONS: Analysts are looking for earnings per share of 71c on revenue of $26.33B, according to First Call. The consensus range for EPS is 65c-81c on revenue of $25.87B-$27.52B. On its last earnings call, Microsoft said it sees Q2 licensing revenue of $4B-$4.2B, computers and gaming revenue of $3.5B-$3.8B, phone hardware revenue of $2B-$2.2B, device and consumer other revenue of $2.3B-$2.4B, commercial licensing revenue of $10.8-$11B and commercial other revenue of $2.5B-$2.6B. Microsoft noted that it expects a quarter-over-quarter decline in its non-commercial segment in Q2. LAST QUARTER: On October 23, Microsoft reported first quarter EPS of 54c, beating the consensus analyst forecast of 49c. It's revenue came in at $23.2B, topping the consensus estimate of $22.02B. Microsoft said its Q1 financial results include $1.14B of integration and restructuring expenses, or an 11c per share negative impact, related to both Microsoft’s restructuring plan announced in July and the ongoing integration of the Nokia Devices and Services business. Microsoft reported that its Q1 Devices and Consumer revenue grew 47% to $10.96B and that its Commercial revenue grew 10% to $12.28B. NEWS: On November 4, Dropbox and Microsoft announced a partnership, with the two companies teaming up to integrate their services for collaboration across Dropbox and Microsoft Office on phones, tablets and the web. On December 4, Barnes & Noble (BKS) announced that it would buy Microsoft's entire stake in the book retailer's NOOK Media subsidiary for about $62.5M in cash and 2.74M Barnes & Noble shares. Barnes & Noble said it was buying back the stake to facilitate the spin off of the NOOK business. On January 21, Microsoft announced at its Windows 10 event that Windows 8 and Windows 7 customers will get free upgrades to Windows 10. The company also said that Cortana, its rival to Apple's (AAPL) Siri personal assistant, will be available for the desktop in Windows 10, making the virtual assistant available across smartphones, PCs and tablets. STREET RESEARCH: On the day after the company's last quarterly report, Credit Suisse said Microsoft reported strong hardware revenue outperformance combined with cost controls and cloud businesses momentum. The firm raised its price target on the stock to $55 from $50 and said it believed the company can return to double-digit EPS growth. On November 20, Jefferies initiated shares of Microsoft with an Underperform rating, saying the "new" Microsoft will look very much like the "old" Microsoft for some time. The firm attributed a rally in shares over the past year to optimism around new management, but it thinks the tech giant's fundamentals remain challenged despite its focus on cloud and mobile given its dependency on the PC market. Jefferies put a $40 price target on the stock at that time. In early December, JPMorgan started shares of Microsoft with an Overweight rating, saying the company has the strongest cloud platform among enterprise IT mega vendors. The firm set a $53 price target for the stock. Less than two weeks later, Piper Jaffray also began coverage on shares of Microsoft with an Overweight rating, saying the tech giant should benefit from stabilization in the PC market and "healthy" enterprise spending. The firm set a $54 price target for shares. However, on December 16, BofA Merrill Lynch downgraded Microsoft to Underperform from Neutral. The firm downgraded shares based on elevated valuation and reduced visibility. BofA/Merrill has concerns of a slowing Win Pro cycle, the Consumer 365 transition, and challenging gross margins. BofA had a price target of $47 on Microsoft. PRICE ACTION: Over the last three months, Microsoft shares are up about 1%. In afternoon trading ahead of tonight's report, Microsoft is down almost 1% to trade near $46.74 per share.
13:36 EDTMSFTMicrosoft technical notes before earnings
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12:23 EDTSTXOn The Fly: Midday Wrap
Stocks on Wall Street opened lower and hit their session lows a short time after the opening bell rang. In addition to some jitters about a vote in Greece, investors were focused on the massive impending winter storm set to hit the Northeast. With weather pundits expecting the snowfall in feet rather than inches, a number of companies have already rescheduled their earnings announcements. The market was mixed at midday, with the Dow and Nasdaq a bit lower and the S&P up fractionally. ECONOMIC EVENTS: In the U.S., the Dallas Fed manufacturing index fell 8.5 points to -4.4 in January, versus the consensus forecast for a reading of 4.0. In Europe, Greece's far-left Syriza party swept to power, renewing concerns about the country's future as a member of the Eurozone. COMPANY NEWS: Today was a "merger Monday," with at least four deals worth more than $1B announced. Energy Transfer Partners (ETP) announced plans to acquire Regency Energy Partners (RGP) in an $18B unit-for-unit transaction that includes assuming $6.8B of net debt and other liabilities. Rock-Tenn (RKT) and MeadWestvaco (MWV) agreed to merge to create a consumer and corrugated packaging company with a combined equity value of $16B. Under the terms of the deal, the resulting ownership of the new company will be approximately 50.1% by MWV shareholders and 49.9% by RockTenn shareholders. AXIS Capital (AXS) and PartnerRe (PRE) announced a "merger of equals" that will create a specialty insurance and reinsurance company with total capital of more than $14B and cash and invested assets of more than $33B. Additionally, cereal maker Post Holdings (POST) agreed to pay $1.15B in cash and stock to buy privately-held MOM Brands, which makes Malt-O-Meal and other breakfast products. MAJOR MOVERS: Among the notable gainers was Universal Display (OLED), which gained 11% after the company announced the signing of a new OLED technology license agreement and material purchase pact with LG Display (LPL). Also higher was Ocwen Financial (OCN), which rose 17% after the California Department of Business Oversight announced a $2.5M settlement with Ocwen Loan Servicing on Friday evening over the firm’s failure for more than a year to provide loan information needed by the DBO to assess compliance with state mortgage lending laws. Also of note, Ocwen denied any basis for default under trust agreements that had been alleged by certain hedge funds and other RMBS investors to trustees and master servicers in connection with 119 RMBS trusts, which are serviced by Ocwen. Among the noteworthy losers was Brookdale Senior Living (BKD), which dropped 8% after the company lowered its forecast for FY15 Cash From Facility Operations, citing a combination of lower than expected occupancy and certain higher-than-anticipated insurance reserve adjustments. Also lower following its earnings reports was hard disk-drive maker Seagate (STX), which fell about 9%. INDEXES: Near midday, the Dow was down 1.41, or 0.01%, to 17,671.19, the Nasdaq was down 4.02, or 0.08%, to 4,753.86, and the S&P 500 was up 2.34, or 0.11%, to 2,054.16.
11:43 EDTEMCEMC to release Q4 results on January 29
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11:18 EDTWDC, STXSeagate, Western Digital pullback a buying opportunity, says Brean Capital
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10:28 EDTINTCIntel trades down, testing lows of the recent range
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09:49 EDTSTXActive equity options trading
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09:47 EDTSTXSeagate says will be opportunistic with share buybacks
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09:44 EDTMSFTInterDigital announces commencement of ITC evidentiary hearing in Microsoft case
InterDigital (IDCC) announced the commencement of the evidentiary hearing in the remand of U.S. International Trade Commission "613 Investigation" of the company's complaint against respondents Nokia Corporation, Nokia Inc. and Microsoft (MSFT). In the 613 Investigation, InterDigital seeks an exclusion order prohibiting the importation into the U.S. of Nokia and Microsoft Mobile devices with 3G WCDMA capabilities that infringe two InterDigital patents. The 613 Investigation was remanded to the ITC from the U.S. Court of Appeals for the Federal Circuit, which held that the Commission had erred in interpreting certain claim terms in InterDigital's patents.
09:19 EDTSTXOn The Fly: Pre-market Movers
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09:11 EDTSTXSeagate sees cloud market exhibiting relative strength in CY15
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08:54 EDTINTCIntel management to meet with Deutsche Bank
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08:05 EDTSTXSeagate reports Q2 EPS ex-items $1.35, consensus $1.35
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07:23 EDTMSFTMicrosoft volatility elevated into Q2 and outlook
Microsoft January weekly call option implied volatility is at 34, February is at 23, March 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 Q2 results today after the market close.
06:27 EDTHPQHP CEO names Henry Xiang-Ying Cao as CEO of H3C, WSJ reports
Meg Whitman, the CEO of Hewlett-Packard, has named former H3C Technologies COO Henry Xiang-Ying Cao as CEO of HP's China-based subsidiary, replacing Jessie Jing-Chuan Wu, who will become vice chairman, The Wall Street Journal reports, citing an internal email. Workers at the unit recently petitioned against HP's new China chairman, Mao Yu'nan, and also pushed for financial incentives, which Whitman has reportedly recently offered. Reference Link
January 23, 2015
15:27 EDTMSFTMicrosoft volatility elevated into Q2 and outlook
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14:57 EDTSTXSeagate technical notes before earnings
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11:58 EDTMSFTMicrosoft to acquire Revolution Analytics to aid customers with data analysis
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08:11 EDTMSFTMicrosoft reveals smartphone-controlled "smart scarf," Business Insider says
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08:10 EDTQCOMMarvell product could replace Qualcomm Snapdragon, says RBC Capital
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08:07 EDTMSFTU.S. tech giants nervous about backlash in Europe, WSJ says
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06:04 EDTINTCIntel may look to form stylus alliance, DigiTimes reports
Intel has recently invited several touch sensor IC designers to form an alliance in order to establish a specification standard for stylus, reports DigiTimes. According to sources from IC designers, the alliance's first product is expected to launch in Q3 and will be to make the input device usable across different mobile devices. Reference Link
06:00 EDTMSFTWindows 10 unlikely to bring dramatic changes to mobile market, DigiTimes says
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January 22, 2015
14:45 EDTQCOMQualcomm seen giving Samsung redesigned Snapdragon, WSJ says
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14:26 EDTMSFTTwitter introduces Tweet translation with Bing Translator
Twitter (TWTR) announced that the company has partnered with Bing Translator (MSFT) to provide machine translations of Tweets between more than 40 language pairs. Tweet translation is available on twitter.com, Twitter for iOS, Twitter for Android, and TweetDeck, according to the company's support page about the new feature. Reference Link
12:37 EDTMSFTMicrosoft volatility into Q2 and outlook
Microsoft January weekly call option implied volatility is at 30, February is at 23, March 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 Q2 results on January 26.
08:57 EDTEMCIxia slides after Oracle unveils Virtual Compute Appliance X5
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08:02 EDTQCOMImpact to Qualcomm of Galaxy loss would be relatively small, says Bernstein
After Bloomberg reported that Samsung would not use Qualcomm's chip for the upcoming Galaxy S 6, Bernstein estimates that Qualcomm's EPS would only be negatively impacted by 2%-8% if its chip is not included in the devices. The firm says that other licensing headwinds will have more of an impact on Qualcomm. It keeps a $70 price target and Market Perform rating on the stock.
08:01 EDTMSFT, STXSeagate expands collaboration with Super Micro Computer
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07:56 EDTWDC, STXBullish stance continues for Western Digital, Seagate, says Brean Capital
Brean Capital said it maintains its bullish stance on hard disk-drive makers Western Digital (WDC) and Seagate (STX), citing continued growth, margin expansion and ongoing multiple expansion. Brean Capital reiterates its Buy rating on both Western Digital and Seagate shares.
06:03 EDTMSFTMicrosoft Windows 10 not a 'material' catalyst, says Jefferies
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January 21, 2015
15:18 EDTMSFTMicrosoft unveils holographic goggle prototype, Wired reports
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12:31 EDTMSFTMicrosoft Cortana to be available on Windows 10 computers, Business Insider says
Microsoft (MSFT) announced at its Windows 10 event that Cortana, its rival to Apple's (AAPL) Siri personal assistant, will be available for the desktop in Windows 10, Business Insider reports, adding that Cortana will be available across smartphones, PCs and tablets. Reference Link
12:22 EDTMSFTMicrosoft says Windows 8, Windows 7 customers to get free upgrade to Windows 10
This comment was made at the Microsoft Windows 10 Briefing. Reference Link
11:22 EDTQCOMAnalyst disputes report of Qualcomm troubles with Samsung
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10:06 EDTMSFTMicrosoft set to test key support, levels to watch
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09:46 EDTQCOMSamsung unlikely to switch from Qualcomm in all Galaxy S6, says Cowen
Cowen doubts that Samsung (SSNLF) is ready to switch away from Qualcomm (QCOM) components to a whole new chip system for its Galaxy S6 phone, as implied by a Bloomberg report, and believes instead that the phone maker will launch the Galaxy S6 in Korea with its own chips and slightly delay the phone elsewhere while Qualcomm works through its issues. The firm, which also thinks Qualcomm has already solved the reported heating problem with the Snapdragon 810, maintains its Outperform rating and $79 price target on Qualcomm.
09:44 EDTQCOMQualcomm slips on reports its chips won't be used in new Galaxy phone
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09:37 EDTQCOMQualcomm shares defended at Credit Suisse
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09:02 EDTEMCSciQuest names Beth Hendriks as Chief Technology Officer
SciQuest (SQI) announced that EMC (EMC) executive Beth Hendriks will be joining the company as its new chief technology officer. In this role, she will be responsible for enhancing the breadth and depth of the SciQuest Spend Management Suite while accelerating technology and user experience innovation. Hendriks joins SciQuest from EMC, where she served as senior director of engineering.
08:13 EDTQCOMQualcomm slides after reportedly being dropped from Galaxy phone
Samsung Electronics (SSNLF), which is trying to become more self-sufficient and give a boost to its own processor-making unit, will reportedly drop Qualcomm’s (QCOM) Snapdragon chip in favor of its own microprocessors in the next Galaxy S smartphone, according to a report from Bloomberg that cited people with direct knowledge of the matter. Shares of Qualcomm are down 2.7% to $70.50 in pre-market trading following the Bloomberg report.
08:09 EDTMSFTDTS to enhance Starz audio technology on Microsoft's Xbox One
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08:03 EDTHPQHP PC market share, sales seem to have risen, says Argus
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07:15 EDTINTCAny Intel server weakness likely a hiccup, says RBC Capital
After JMP Securities yesterday downgraded Intel (INTC) based partly on information from a source who said that server component sales have been weak in 2015, RBC Capital says any weakness is probably due to a three month delay caused by a technical problem and is not demand driven. RBC Capital expects the technical problem to be resolved within three months but keeps a $40 price target and Sector Perform rating on Intel.
05:53 EDTQCOMStocks with implied volatility movement; IBM QCOM
Stocks with implied volatility movement; IBM (IBM) 27, Qualcomm (QCOM) 33 according to iVolatility.
05:53 EDTQCOMSamsung drops Qualcomm chip from next Galaxy smartphone, Bloomberg reports
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January 20, 2015
12:55 EDTHPQThousands of HP employees protest new China head, China Daily says
About 2,500 employees of HP's (HPQ) China based subsidiary, H3C Technologies, have signed a petition against HP's new China chairman, Mao Yu'nan, according to China Daily. The employees fear that Mao will endanger H#C's autonomy and torpedo an employee stock option plan that has been in the works for some time, the newspaper stated. Reference Link
11:15 EDTINTCIntel slips after JMP cuts to sell, Canaccord says upgrade not yet warranted
Following Intel's (INTC) fourth quarter results last week, two research firms issued cautious notes on the stock today. JMP Securities downgraded the stock to Underperform, which is the firm's "Sell" equivalent rating, while Canaccord kept a Hold rating on the shares, though the latter firm said its outlook on the company's fundamentals is continuing to become more positive and raised its price target on the name. WHAT'S NEW: Intel's Q4 results were "mixed," but the company's fundamentals appear to have improved, Canaccord analyst Matt Ramsay wrote in a note to investors today. The company's data center group and Internet of Things group should generate sustained 15%+ and 20%+ growth, respectively, over the next several years, the analyst stated. Meanwhile, Intel's PC client group should be able to cut costs further, Ramsay believes. The analyst said he had "intended to upgrade the stock" after the results, given his long-term upbeat view of the company, but was unable to do so. Ramsay explained that he changed his mind because he does not think the company's profits will increase at all this year, while the stock largely already reflects his expectations for solid profit growth in 2016. The analyst increased his price target on the shares to $40 from $36 but kept a Hold rating on the stock. More bearish was JMP Securities analyst Alex Gauna. Gauna downgraded the stock to Underperform from Market Perform and set a $30 price target on Intel. After speaking with a source who sells server components, the analyst reported that the source's business has been weak this month. Weak server component sales are likely to pull down Intel's stock, given its relatively high valuation, the analyst stated. Meanwhile, Intel's gross margins have probably peaked, Gauna believes. PRICE ACTION: In morning trading, Intel fell 1.7% to $35.82.
11:13 EDTHPQHP looks to boost sales with specific tablets for professionals, Bloomberg says
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11:08 EDTMSFTMicrosoft acquires Equivio, terms not disclosed
Rajesh Jha, Microsoft's Corporate VP, Outlook and Office 365, announced on the company's blog that Microsoft has acquired Equivio, a provider of machine learning technologies for eDiscovery and information governance. Jha explains, "We are making this acquisition to help our customers tackle the legal and compliance challenges inherent in managing large quantities of email and documents." Reference Link
09:39 EDTMSFTMicrosoft Outlook in China hacked by government censorship department, CNBC says
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08:07 EDTINTCIntel downgraded at JMP Securities
As noted earlier, JMP Securities downgraded Intel to Underperform from Market Perform. The firm reports that industry sources said there has been a sharp downturn in server activity going into 2015.
07:59 EDTINTCIntel upgrade not warranted due to lack of EPS growth, says Canaccord
Canaccord said it intended to upgrade Intel following its mixed Q4 results, but with estimates for essentially no earnings growth in 2015, the firm could not justify it. As a result, Canaccord raised its price target to $40 from $35 on Intel shares and maintained its Hold rating, but noted it stands ready to upgrade the stock on a pullback.
06:12 EDTINTCIntel downgraded to Underperform from Market Perform at JMP Securities
January 19, 2015
12:56 EDTHPQHP-Autonomy investigation closed by U.K.'s Serious Fraud Office
The Director of the Serious Fraud Office has closed the SFO's investigation into the sale of Autonomy to the Hewlett-Packard company in 2011. This investigation was commenced in early 2013, following a referral from HP.In respect of some aspects of the allegations, the SFO has concluded that, on the information available to it, there is insufficient evidence for a realistic prospect of conviction.In respect of other aspects and on the application of well-established principles, jurisdiction over the investigation has been ceded to the US authorities whose investigation is ongoing. Reference Link
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