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Stock Market & Financial Investment News

News Breaks
January 24, 2014
13:28 EDTBDSI, PG, KSU, MSFT, IGT, JNPROn The Fly: Midday Wrap
The Wall Street averages were all lower at midday for a third straight session, with the Dow again registering a triple-digit loss despite post-earnings advances from Microsoft (MSFT) and Procter & Gamble (PG). The U.S. market began the session deeply in negative territory, taking its lead from emerging markets, which took a beating overnight. The market seemed to have found a level early on, but the selling momentum eventually increased, pushing the Dow down about 200 points near noon. The long awaited correction appears to be occurring after the market put in one of its best yearly performances ever in 2013. ECONOMIC EVENTS: In the U.S., little economic data of note was reported. In Europe, Fitch affirmed Germany's AAA sovereign credit rating with a stable outlook. In Argentina, the government said it would loosen its strict foreign exchange controls a day after it abandoned a long-standing policy of supporting the peso. The change in policy announced yesterday had resulted in an 11% drop in the Argentinian peso against the dollar, marking the currency's steepest plunge since 2002. In addition to Argentina's currency issues, the Turkish lira, the South African rand and the Russian ruble all hit new, multi-year lows. COMPANY NEWS: After last night's close, Microsoft reported earnings and revenue that surpassed the consensus forecast of analysts. Helping to power its performance were increased sales of its Surface tablet, strong holiday season sales of its Xbox game systems and the company "[continuing] to take share" from competitors as customers transition to the cloud. Shares of the tech giant gained about 3%... Fellow Dow component Procter & Gamble was vying with Microsoft to be the top gainer on the blue-chip index with its own post-earnings advance of nearly 3%. The consumer goods maker reported sales that were just a hair below expectations and profits that narrowly exceeded the consensus forecast. MAJOR MOVERS: Among the notable gainers was Juniper Networks (JNPR), which rallied 7% after the company reported better than expected results, announced the pending release of a new operational plan and activist investor Jana Partners backed Elliot Managementís recent plan to unlock shareholder value at the company. Also higher was BioDelivery Sciences (BDSI), which surged 33% after announcing top-line results from of a study of a drug it is developing for the treatment of moderate to severe chronic pain in certain patients. Among the noteworthy losers was Kansas City Southern (KSU), which fell over 13% after the railroad operator reported weaker than expected results. Also lower were shares of International Game Technology (IGT), which fell nearly 13% after its results disappointed and the company said that the lower end of its previously announced guidance range is more likely, with potential further downside risk. INDEXES: Near midday, the Dow was down 200.08, or 1.24%, to 15,997.27, the Nasdaq was down 66.08, or 1.57%, to 4,152.80, and the S&P 500 was down 24.30, or 1.33%, to 1,804.16.
News For MSFT;PG;JNPR;KSU;BDSI;IGT From The Last 14 Days
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October 1, 2015
09:30 EDTKSURails sector upgraded to Market Weight from Market Weight at Wolfe Research
Wolfe Research upgraded the Rails Sector to Market Overweight citing limited downside in earnings and valuations at current levels. The firm recommends investors aggressively buy rail stocks again given below market multiples and double-digit earnings growth next year. As part of the sector upgrade, the analyst raised Norfolk Southern to Outperform from Peer Perform.
06:23 EDTMSFTMicrosoft upgraded to Neutral from Underperform at BofA/Merrill
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September 30, 2015
16:50 EDTMSFTMicrosoft, Google agree to end patent feud over phones, Xbox, Bloomberg says
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12:26 EDTKSURails advance after Goldman says rate of volume declines improving
Shares of railroad operators are advancing after Goldman Sachs moved its Rails coverage view to Attractive from Neutral. WHAT'S NEW: In a note to investors, Goldman Sach's Tom Kim and team said while rail volumes continue to contract, the rate of change has begun to improve and the firm sees this as an early inflection indicator. The negatives in the rail sector appear to be well known as the sector has been under "significant" selling pressure since peaking in the fourth quarter of 2014, added Goldman Sachs. The firm sees structural improvement in the profitability of the rail sector as operating margins for 2015 are estimated to have expanded to 35% from 29% in 2010. Goldman thinks the negative earnings per share revisions cycle for rails is over and that investor expectations are achievable. The firm sees earnings as a catalyst for sector performance and believes carloads will grow again in 2016 with 4% year-over-year growth in intermodal. WHAT'S NOTABLE: Kim upgraded Canadian Pacific (CP) to Buy from Neutral and reiterated its Buy rating on Union Pacific (UNP). The firm sees upside potential for Canadian National Railway (CNI), CSX (CSX), Kansas City Southern (KSU), and Norfolk Southern Corporation (NSC), but it maintained its Neutral ratings on those names as the firm expects these stocks to trade in-line with its broader Transportation coverage universe. PRICE ACTION: In afternoon trading, shares of Canadian Pacific are up nearly 3%, while Union Pacific is higher by almost 1%. CSX is advancing 2.2%, while Canadian National Railway, Kansas City Southern, and Norfolk Southern Corporation are each up over 1%.
11:09 EDTMSFTMicrosoft to open flagship stores in Manhattan, Syndey
Microsoft announced that it plans to open a flagship store in Manhattan on Fifth Avenue and 53rd Avenue on October 26 and one at Westfield Sydney on Pitt Street Mall on November 12. On the company's blog, it said the flagship stores have been in the making for six years. Reference Link
08:45 EDTMSFTNVIDIA price target raised to $30 from $28 at JMP Securities
JMP Securities increased its price target on NVIDA (NVDA) after Microsoft's (MSFT) cloud platform began offering NVIDIA's Grid 2.0 GPU virtualization solutions, JMP says that Microsoft's move "paves the way for broader Cloud adoption and further entrenchment of Nvidia Quadro solutions." The firm reiterates an Outperform rating on the stock.
08:08 EDTKSURails sector upgraded to Attractive from Neutral at Goldman
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06:14 EDTMSFTRackspace expected to partner with Amazon, WSJ reports
Rackspace Hosting (RAX) is expected to partner with Amazon (AMZN) to make it easier for corporate customers to move computing operations to Amazon Web Services from their own facilities, The Wall Street Journal reports. According to two sources, the partnership, which is similar to an agreement Rackspace signed with Microsoft (MSFT) in July, will be announced at a conference for AWS users next week. Reference Link
September 29, 2015
12:35 EDTPGPerrigo shareholders pressure company to explore sale, Reuters says
Certain Perrigo (PRGO) shareholders have requested that company explore a sale, hoping for an alternative to Mylan's (MYL) approximately $25B hostile bid, Reuters reports, citing people familiar with the matter. The pressure represents a challenge to Perrigo's defense strategy, the report says. Some of the company's shareholders view Novartis (NVS), Sanofi (SNY), Procter & Gamble (PG), and Colgate-Palmolive (CL) as potential suitors, the report says. Reference Link
09:16 EDTBDSILadenburg to hold a conference
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06:07 EDTIGTInternational Game applications to be installed at Wynn Las Vegas
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06:01 EDTMSFTMicrosoft to host conference call
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05:23 EDTJNPRJuniper to work with British Airways to build private cloud and next-gen core
Juniper (JNPR) announced it will work with global premium airline, British Airways (BAIRY), to build a private cloud data center and IP/MPLS core backbone using Juniper Networks technology. The new private cloud infrastructure will run many of the applications that underpin British Airways' operations, including ticketing, check-in and baggage tracking.
September 28, 2015
16:34 EDTMSFTMicrosoft to change financial reporting structure
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13:13 EDTMSFTMicrosoft comments on privacy, Windows 10 on blog
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12:06 EDTMSFTMicrosoft acquires Adxstudio, terms not disclosed
Bob Stutz -- Corporate VP, Microsoft Dynamics CRM -- disclosed in a blog post that Microsoft has acquired has reached a definitive agreement to acquire key product and technology assets of Adxstudio Inc., a provider of Web portals, online engagement solutions and application lifecycle management solutions for Microsoft Dynamics CRM. Stutz says, "With this acquisition of our long-time partner, our customers will immediately be able to take advantage of new and exciting ways to engage with customers online." Terms of the deal have not been disclosed. Reference Link
10:43 EDTMSFTMicrosoft planning Google Cardboard VR competitor, TNW News says
Microsoft (MSFT) is working on a competitor to Google's (GOOG) Cardboard Virtual Reality program, TNW News reports. The Seattle-based tech giant is inviting participants to an event in Russia on October 17, offering cardboard headsets to those with "successful" suggestions, the report says. Microsoft is already developing its HoloLens "mixed reality" technology, the report says. Reference Link
06:42 EDTPGPerfume makers look to Wal-Mart, Target, WSJ reports
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September 25, 2015
18:13 EDTMSFTGates Foundation files lawsuit against Petrobras, auditor, WSJ says
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09:15 EDTKSUKansas City Southern management to meet with JPMorgan
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