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Stock Market & Financial Investment News

News Breaks
February 4, 2014
16:39 EDTKORS, YUM, DNB, BRO, TTWO, MSFT, JCPOn The Fly: Closing Wrap
Stocks on Wall Street were higher, bouncing back a bit following yesterday's sharp sell-off. The averages opened higher, led by gains in the tech-heavy Nasdaq, which added nearly 1% for the session. Despite gains, the averages recouped less than half of yesterday's decline. ECONOMIC EVENTS: In the U.S., factory orders dropped 1.5% in December, versus expectations for a 1.8% decline. COMPANY NEWS: Microsoft (MSFT) shares fell 13c, or 0.36%, to $36.35 after the company promoted the head of its Cloud and Enterprise group, Satya Nadella, to Chief Executive Officer, succeeding Steve Ballmer. Nadella's promotion, which had been roundly telegraphed in recent media reports, make him the tech giant's third CEO. Bill Gates, one of the company's founders and formerly chairman of its board, will assume a new role as Technology Advisor and devote more time to the company, with lead independent director John Thompson taking over as chairman... Embattled retailer J.C. Penney (JCP) fell 60c, or 10.56%, to $5.08 despite reporting comparable store sales that grew 3.1% during the Holiday period. Deutsche Bank said it believes investors were expecting a positive low-single digit gain in same-store sales and it does not view today's press release as material to the J.C. Penney story, while Sterne Agee cut its price target on the retailer's shares to $3 from $9. MAJOR MOVERS: Among the notable gainers was luxury goods maker Michael Kors (KORS), which advanced $13.24, or 17.27%, to $89.91 after the company's third quarter results soundly beat analysts' expectations and several analyst firms raised their price targets on the stock. Also higher following their quarterly report was Yum! Brands (YUM), up $5.90, or 8.92%, to $72.06 after the Taco Bell and KFC owner reported adjusted profit that beat estimates and affirmed its fiscal 2014 earnings outlook. Among the noteworthy losers following disappointing earnings reports were Dun & Bradstreet (DNB), down $10.88, or 10.22%, to $95.58, and Brown & Brown (BRO), down $2.40, or 7.82%, to $28.28. Also lower was Take-Two (TTWO), which fell $1.84, or 9.74%, to $17.06. The video game maker reported better-than-expected results though issued guidance for the current quarter that missed expectations and analysts were generally downbeat about the company's outlook. INDEXES: The Dow was up 72.44, or 0.47%, to 15,445.24, the Nasdaq was up 34.56, or 0.86%, to 4,031.52, and the S&P 500 was up 13.31, or 0.76%, to 1,755.20.
News For MSFT;JCP;KORS;YUM;DNB;BRO;TTWO From The Last 14 Days
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October 23, 2014
06:40 EDTMSFTMicrosoft killing Xbox Music free streaming feature
Effective December 1, Microsoft says that the free Xbox Music streaming feature currently available on Windows 8, Windows 8.1, and over the Internet will be discontinued in all countries where it is offered. The company explains, "We are focusing Xbox Music to deliver the ultimate music purchase and subscription service experience for our customers." Reference Link
October 22, 2014
11:25 EDTMSFTCisco sale of VCE stake to have limited impact, says Wells Fargo
Wells Fargo thinks Cisco's (CSCO) decision to sell a portion of its stake in VCE is unlikely to have a material near-to-intermediate-term impact on the company's top line since it will continue to sell its networking and compute solutions to the joint venture. Wells says Cisco's "budding" partnerships with NetApp (NTAP), Microsoft (MSFT) and Citrix (CTXS) should more than offset any potential impacts from lessening ties to EMC (EMC) and VMware (VMW).
10:03 EDTMSFTThe Linley Group to hold a conference
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09:07 EDTMSFTIBM and Microsoft partner for hybrid cloud services
IBM (IBM) and Microsoft (MSFT) are working to provide their respective enterprise software on Microsoft Azure and IBM Cloud. IBM and Microsoft will make key IBM middleware such as WebSphere Liberty, MQ, and DB2 available on Microsoft Azure. Windows Server and SQL Server will be offered on IBM Cloud. IBM and Microsoft are working together to deliver a Microsoft .NET runtime for IBM's Bluemix cloud development platform. The companies will enable customers to bring their own software licenses to the IBM and Microsoft clouds.
08:22 EDTMSFTMicrosoft October weekly volatility elevated into Q1 and outlook
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06:39 EDTMSFTMicrosoft Lumia to replace Nokia brand, The Verge reports
Microsoft plans to make Microsoft Lumia the new brand name that takes the place of Nokia for the software maker, reports The Verge. Nokia still exists as a separate company without its phones business, focusing on mapping and network infrastructure. Reference Link
October 21, 2014
07:45 EDTMSFTMicrosoft CEO touts cloud revenue run-rate over $4B, BI reports
At a press event yesterday, Microsoft (MSFT) CEO Satya Nadella provided a number of figures about the strong performance of the company's Azure cloud business, including a revenue run rate of nearly $4.4B and that Azure is adding 10,000 new customers every week to its 350M active directory user base, reported Business Insider, which noted that Amazon Web Services (AMZN) is estimated to have roughly $4B in annual sales and that Salesforce.com (CRM) had a little over $4B in revenues last year. Reference Link
October 20, 2014
17:47 EDTBROBrown & Brown raises quarterly dividend to 11c from 10c per share
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17:46 EDTBROBrown & Brown reports Q3 EPS 47c, consensus 47c
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15:20 EDTMSFTMicrosoft confirms availability of Cloud Platform System, powered by Dell
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13:10 EDTKORSSteve Madden tumbles after providing preliminary Q3 results, FY14 outlook
Shares of shoe and accessory company Steve Madden (SHOO) are tumbling after the company announced preliminary third quarter results that were below analysts' consensus along with a reduction to its fiscal year 2014 outlook. WHAT'S NEW: Steve Madden announced that it is anticipating Q3 earnings per share to be approximately 61c-62c and net sales of $392M, below analysts' consensus estimates of 67c and $415.72M, respectively. The company noted that retail comparable store sales for the quarter are anticipated to be down 7.4%. Steve Madden also reduced its FY14 EPS outlook to $1.81-$1.86 from $2.00-$2.10, well below analysts' $2.02 consensus. The company lowered its net sales projection for the year, and now sees net sales up 1%-2% over fiscal year 2013 versus its previous net sales guidance for up 2%-4% over FY13. The new guidance factors in the recent acquisition of Dolce Vita and current expectations for remainder of the year. On August 14, Steve madden acquired Dolce Vita for $60.3M in cash and previously said the deal would be accretive to earnings in FY14 by 2c-3c and be "modestly accretive" in FY15. WHAT'S NOTABLE: Steve Madden's Chief Executive Officer Edward Rosenfeld said that the company's Q3 earnings were "disappointing" and were the result of weaker than expected retail segment performance. He believes that retail trends in the footwear space will continue to be difficult through the fourth quarter due to a lack of noteworthy fashion trends in the industry. The CEO said that the company's full-year guidance results from this pattern, along with a lowered reorder outlook in its wholesale segment. Rosenfeld is still confident, however, in the company's business model and believes that its acquisitions of Dolce Vita and its Mexican licensee will fuel the business forward over the long term. OTHERS TO WATCH: Competitors of Steve Madden include Michael Kors (KORS), Coach (COH), Kate Spade (KATE), and Vera Bradley. PRICE ACTION: During afternoon trading, shares of Steve Madden fell $2.62 or 8.2%, to $29.32. Over the last twelve months, the stock has fallen over 15%.
12:09 EDTMSFTIBM hits 52 week low after earnings miss, 2015 profit target dropped
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08:00 EDTMSFTRBC Capital remains positive on Microsoft
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07:06 EDTMSFTNICE Systems solution qualified to support Microsoft Lync
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October 19, 2014
20:41 EDTMSFTMicrosoft plans smartwatch launch within weeks, Forbes says
Microsoft (MSFT) is planning a smart watch launch within the next few weeks, Forbes says.The smart watch will passively keep track of the wearer’s heart rate and work across different mobile platforms, added Forbes. Apple (AAPL) has delayed its own smartwatch launch to early 2015 according to the report. Reference Link
October 17, 2014
16:55 EDTJCPStocks end volatile week lower amid oil price plunge
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11:27 EDTMSFTMicrosoft October weekly volatility elevated into Q1 and outlook
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06:30 EDTMSFTNPD: Sony PlayStation4 outsells XBox One in September, GameSpot reports
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06:26 EDTMSFTSony says PS4 September's top-selling console
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05:39 EDTTTWOSeptember NPD video game software sales fell 36%, says Piper Jaffray
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