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Stock Market & Financial Investment News

News Breaks
July 17, 2014
16:52 EDTMSFT, SNDK, YUM, DRC, MAT, SIEGY, UNHOn 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 analystsí 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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September 8, 2014
08:06 EDTUNHInsperity, UnitedHealth extend contract through 2017
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07:34 EDTMSFTU.S. claims China breaks commitments amid Qualcomm, Microsoft probes, WSJ says
As Microsoft (MSFT) and Qualcomm (QCOM) are being investigated for potential monopolistic activity by Chinese regulators and lawmakers there recently alleged price manipulation by foreign automakers including Toyota (TM), Honda (HMC) and Daimler (DDAIF), the U.S. Chamber of Commerce alleged that China's use of its antimonopoly law has been subjective and its implementation skewed to favor China's local companies, reported The Wall Street Journal. Reference Link
06:37 EDTMSFTBaidu hires Microsoft's Zhang Yaqin, WSJ reports
Baidu (BIDU) has hired Zhang Yaqin, a top Microsoft (MSFT) executive in China, to become its president for new business,t he Wall Street Journal reports. Zhang was Microsoft's VP and chairman of its Asian-Pacific research and development group. Reference Link
06:21 EDTMSFTSmartwatch market to reach $10B by 2018, says Citigroup
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06:08 EDTMSFTMicrosoft gives MSN.com a facelift, Re/code reports
Microsoft has given MSN.com a major facelift a year after MSN was merged with Bing Apps, Re/code reports. The updated MSN will still feature news, sports and cars, but will also include interactive content involving food and fitness. MSN is expected to be fully rolled out by the end of the month, and optimized MSN apps for iOS and Android could be released by the end of hte year. Reference Link
September 5, 2014
10:05 EDTSNDKOn The Fly: Analyst Upgrade Summary
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09:31 EDTSNDKSanDisk acquisition positive, says Bernstein
After SanDisk bought Fusion-io, Bernstein thinks the deal plugs the gap in the company's Enterprise SSD market and will accelerate its growth in this new market. The firm expects the deal to be dilutive to SanDisk until 3Q15. It keeps an Outperform rating on the shares.
08:01 EDTSNDKSanDisk upgraded at Morgan Stanley
As previously reported, Morgan Stanley upgraded SanDisk to Overweight from Equal Weight. The firm upgraded shares based on valuation and a solid NAND supply/demand balance for 2015-2016.
06:33 EDTMSFTMicrosoft, competitors aim to halt Google EU agreement, Reuters says
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05:57 EDTSNDKSanDisk upgraded to Overweight from Equal Weight at Morgan Stanley
September 4, 2014
13:56 EDTMSFTGetty Images files lawsuit against Microsoft over photo tool, Reuters reports
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12:49 EDTUNHJudges to revisit ObamaCare subsidies decision, The Hill reports
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11:19 EDTYUMYum! shares pull back as company cuts Q3 China SSS view
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09:06 EDTYUMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: PVH Corp. (PVH), up 9%... Verifone (PAY), up 3.8%... Methode Electronics (MEI), up 13%... Bazaarvoice (BV), up 9%. ALSO HIGHER: Bolt Technology (BOLT), up 35.7% after Teledyne (TDY) agrees to acquire the company for $22 per share in cash... Mitek Systems (MITK), up 58% after USAA lawsuit settlement... Tibco Software (TIBX), up 7% after announcing that it is reviewing strategic alternatives... Stereotaxis (STXS), up 22% after receiving FDA clearance for Vdrive with V-Loop system... NewLink (NLNK), up 3.4% after reporting FDA approval for Phase 1 clinical studies of Ebola vaccine. DOWN AFTER EARNINGS: Ciena (CIEN), down 3%... Joy Global (JOY), down 1%... Matrix Service (MTRX), down 11%... Mobileye (MBLY), down 1.3%. ALSO LOWER: Yum! Brands (YUM), down 2.8% after updating third quarter China division same-store sales guidance... 3D Systems (DDD), down 2.9% after downgraded at Pacific Crest... GoPro (GPRO), down 3.5% after downgraded at JPMorgan... Shanda Games (GAME), down 4% after announcing reconstitution of special committee.
08:59 EDTYUMYum! Brands risk/reward favorable at prospective levels, says RW Baird
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08:07 EDTYUMYum! Brands volatility expected to move on Q3 China division sales guidance
Yum! Brands volatility is expected to move after updating Q3 China division sales guidance. Overall option implied volatility of 18 is below its 26-week average of 23 according to Track Data, suggesting decreasing price movement.
08:01 EDTYUMYum! Brands consensus estimates still need to come down, says Morgan Stanley
Morgan Stanley said Yum! Brands pre-released China Q3 same-store-sale estimate of (13%) was well below consensus of +80bps. The firm said the news should not be a surprise given recent supplier issues but consensus estimates still remain too high and will need to come down. The analyst remains below consensus and sees no specific catalysts insight. Shares are Equal Weight rated.
07:56 EDTYUMYum! Brands price target lowered to $85 from $90 at UBS
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06:55 EDTSNDKSanDisk reinstated with a Buy at Deutsche Bank
Deutsche Bank reinstated shares of SanDisk with a Buy rating citing limited NAND supply risk in the next 12 months and the demand pickup from SSDs and smartphones. The firm has a $110 price target for shares.
06:30 EDTMSFTIDC: Phablet shipments to pass PCs in 2014, tablets in 2015, DigiTimes reports
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