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Stock Market & Financial Investment News

News Breaks
July 17, 2014
16:52 EDTSIEGY, YUM, MAT, SNDK, UNH, DRC, MSFTOn The Fly: Closing Wrap
Stocks on Wall Street began the session in negative territory, though the averages recaptured most of their losses and the Dow made it briefly into positive territory by mid-morning. Late in the morning reports surfaced of a downed jet on the Russia-Ukraine border and investors moved to the sidelines expecting to hear terrorism was the reason. With speculation bouncing between the potential for an accident and an act of aggression, the market grew weak. Late afternoon reports of a ground invasion of the Gaza strip by Israel coincided with the market taking another leg lower and the averages ended the trading day near their worst levels. ECONOMIC EVENTS: In the U.S., weekly jobless claims dipped 3K to 302K in the week ended July 12. Housing starts dropped 9.3% to a 893K rate in July, while building permits declined 4.2% to a 963K rate. Both were expected to rise to rates over 1M. The Philly Fed manufacturing index climbed 6.1 points to 23.9 in July, beating expectations for it to have dipped to 16.0. COMPANY NEWS: Shares of Microsoft (MSFT) advanced 45c, or 1.02%, to $44.53 after the company announced a plan to simplify its operations, which will result in the elimination of up to 18,000 jobs over the next year. Of that total, over two-thirds will come from positions to be eliminated at the phone business Microsoft recently purchased from Nokia. In an email to Microsoft employees on the integration of Nokia and the broad restructuring, CEO Satya Nadella said the decision to change was "difficult, but necessary" and will result in the company having fewer layers of management. MAJOR MOVERS: Among the notable gainers was Dresser-Rand (DRC), which jumped $7.58, or 12.55%, to $68.00 after Germany's Manager Magazin reported that Siemens (SIEGY) is working with Lazard on a takeover bid for the company. Also higher following its earnings reports was Dow member Unitedhealth (UNH), which rose $1.35, or 1.61%, to $85.11. Shares of SanDisk (SNDK) fell $14.62, or 13.56%, to $93.21 the flash memory manufacturer's third quarter revenue outlook trailed analysts’ consensus estimates. Also lower after their earnings reports were Yum! Brands (YUM), which fell $5.70, or 6.89%, to $77.01, and Mattel (MAT), which dropped $2.57, or 6.58%, to $36.46. INDEXES: The Dow dropped 161.39, or 0.94%, to 16,976.81, the Nasdaq fell 62.52, or 1.41%, to 4,363.45, and the S&P 500 retreated 23.45, or 1.18%, to 1,958.12.
News For MSFT;SNDK;YUM;DRC;MAT;SIEGY;UNH From The Last 14 Days
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May 15, 2015
06:03 EDTMSFTStocks with implied volatility below IV index mean; MSFT GE
Stocks with implied volatility below IV index mean; Microsoft (MSFT) 17, General Electric (GE) 15 according to iVolatility.
May 14, 2015
19:04 EDTMSFTMicrosoft announces mobile-friendly search result changes
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16:00 EDTMSFTOptions Update; May 14, 2015
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11:19 EDTMSFTMicrosoft set to test 52-week high, levels to watch
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09:34 EDTMSFTActive equity options trading on open
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07:33 EDTUNHUnitedHealth would consider Optum spinoff if benefits erode, says UBS
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May 13, 2015
16:01 EDTMSFTMicrosoft blog post refrains from using 'Windows Phone' branding
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15:04 EDTMSFTEarnings Watch: Cowen says Cisco better positioned than most believe
Cisco Systems (CSCO) is scheduled to report results of its third fiscal quarter after the market close on Wednesday, May 13, with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 53c on revenue of $12.07B, according to First Call. The consensus range for EPS is 52c-54c on revenue of $11.99B-$12.46B. Along with its last quarterly report, Cisco guided for Q3 EPS of 51c-53c and said it expects its revenue to be up 3%-5% in the quarter compared to the prior year. LAST QUARTER: On February 1, Cisco reported second quarter EPS of 53c, beating the consensus analyst forecast of 51c. Revenue came in at $11.94B, topping the $11.8B consensus forecast. At that time Cisco also raised its quarterly dividend to 21c from 19c. NEWS: On March 11, Cisco announced an extension of its cloud and data center relationship with Microsoft (MSFT) to include a new technology platform designed to accelerate service delivery and streamline the journey to the Intercloud for cloud providers. The new integrated solution combines Windows Azure Pack and Cisco Application Centric Infrastructure to help cloud providers "rapidly deliver hybrid cloud services while drastically simplifying operations and reducing costs," the company said. On May 4, Cisco announced that its board has appointed Chuck Robbins, who most recently served as Cisco's senior vice president of worldwide operations, as CEO, effective July 26. Current CEO John Chambers will assume the role of executive chairman and will continue to serve as the chairman of Cisco's board. STREET RESEARCH: On the day after the company's last report, research firm Piper Jaffray said it saw little downside risk in Cisco shares and believes Cisco is benefiting from a switching upgrade cycle that should sustain throughout 2015. The firm kept an Overweight rating on the stock with a $33 price target. Conversely, Citigroup said that despite the improving demand seen in Q2, Cisco shares remained fully priced at its levels at that time. Citi raised its price target for shares to $25 from $22, but kept a Sell rating on the name. The day after Cisco announced its CEO transition plan, Cowen said it thinks the company is better positioned and business is trending better than most investors believe, as evidenced by the timing of its CEO change. The firm, which believes Robbins is an excellent choice to replace Chambers, reiterated its Outperform rating and $35 price target on Cisco shares. Earlier this week, Pacific Crest upgraded Cisco to Outperform from Sector Perform, as the firm believes the April quarter results could signify the start of a multi-quarter recovery driven by new product cycles across switching, routing, wireless and servers. Pacific Crest, which thinks improving fundamentals and cloud momentum can drive multiple expansion in the second half of 2015 and into 2016, set a $36 price target for Cisco shares. PRICE ACTION: In afternoon trading ahead of Wednesday's report, Cisco shares are up fractionally to $29.30. In the last three months, Cisco shares have declined about 0.5%.
10:08 EDTSNDKRumor: SanDisk strength attributed to renewed takeover speculation
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10:01 EDTMSFTOn The Fly: Analyst Upgrade Summary
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07:31 EDTSIEGYHeart Rhythm Society to hold a conference
Heart Rhythm 2015 is being held in Boston on May 13-16.
06:07 EDTMSFTMicrosoft upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Karl Keirstead upgraded Microsoft to Buy saying weak PC market sentiment is priced into the stock at current levels while Azure and Office 365 optimism is "just starting" to take hold. The analyst sees more positive than negative catalysts and raised his price target for Microsoft shares to $55 from $44. Shares of the computing giant closed yesterday down 2c to $47.35.
May 12, 2015
10:27 EDTMSFTAppeals court upholds InterDigital loss in patent fight with Microsoft, ZTE
The U.S. Court of Appeals for the Federal Circuit affirmed the final determination of the International Trade Commission finding no violation of Section 337 of the Tariff Act was committed by Microsoft (MSFT) and ZTE related to patents held by InterDigital (IDCC). The patents at issue in the case are directed to cellphone technology, and in particular, code division multiple access networks, according to the appeals court ruling.
09:23 EDTSIEGYBooz Allen, Siemens, Power Analytics to conduct feasibility study in NY
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May 11, 2015
13:17 EDTMSFTMicrosoft invests in subsea cables to connect datacenters globally
Microsoft (MSFT) announced in a blog post that over the past nine months, "Microsoft has been significantly investing in subsea and terrestrial dark fiber capacity by engaging in fiber partnerships that span multiple oceans and continents. And today, our connections across the Atlantic and Pacific just got stronger.We announced deals with Hibernia and Aqua Comms, in which Microsoft is investing in a cable with each company to connect Microsoft’s datacenter infrastructure from North America to Ireland and on to the United Kingdom. These cables will help deliver data at higher speeds, with higher capacity and lower latency for our customers across the globe. Additionally, we joined a consortium comprised of China Mobile (CHL), China Telecom (CHA), China Unicom (CHU), Chunghwa Telecom (CHT), KT Corporation (KT) with TE SubCom as the cable supplier. As part of our participation in the consortium, Microsoft will invest in its first physical landing station in the US connecting North America to Asia. The New Cross Pacific Cable Network will provide faster data connections for customers, aid Microsoft in competing on cloud costs, all while creating jobs and spurring local economies. The goal of our expansions and investments in subsea cables is so our customers have the greatest access to scale and highly available data, anywhere." Reference Link
09:37 EDTMSFTActive equity options trading on open
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08:04 EDTYUMYum! Brands price target raised to $109 from $93 at Bernstein
Bernstein says that Yum's China comps appear to have turned the corner, while worries about the underlying weakness of its China business are contradicted by evidence. It keeps an Outperform rating on the shares.
07:40 EDTUNHFocus on Vertex will shift to pricing after Orkambi FDA meeting, WSJ says
An FDA advisory committee that meets Tuesday to decide whether to recommend approval of Vertex’s Orkambi will be closely watched by health insurers and pharmacy-benefit managers concerned that the experimental cystic-fibrosis drug will be high-priced, said The Wall Street Journal. Vertex hasn’t announced a price, but analyst at JPMorgan predict the drug will have a wholesale price of about $287,000 annually per patient. Publicly traded PBM owners include Catamaran (CTRX), which is being acquired by UnitedHealth (UNH), CVS Health (CVS) and Express Scripts (ESRX). Reference Link
07:13 EDTUNHUnitedHealth management to meet with UBS
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06:11 EDTMSFTStocks with implied volatility below IV index mean; LNKD NFLX
Stocks with implied volatility below IV index mean; LinkedIn (LNKD) 28, Netflix (NFLX) 26 according to iVolatility.
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