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Stock Market & Financial Investment News

News Breaks
June 24, 2014
16:23 EDTMU, WWWW, GOOG, ICE, VRTX, WIXOn The Fly: Closing Wrap
Stocks on Wall Street were lower despite reports that showed new home sales rose more than anticipated in May and consumer confidence was higher than expected in June. The S&P managed to hit a new intra-day high early in the session and the Dow crept towards 17,000, but by mid-afternoon the averages weakened as headlines told of Syrian jets firing on Iraq. The potential for an escalation in violence in the Middle East pushed the buyers to the sidelines and put the sellers in firm control into the close. ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller index of property values in 20 cities for April had its smallest 12-month gain in more than a year, rising 10.8% from the same month of last year. However, a separate report showed that new home sales surged 18.6% in May to a 504K annual rate, beating expectations. The Conference Board's consumer confidence index climbed to 85.2 in June, beating expectations and hitting its highest level since 2008. The Richmond Fed manufacturing index dipped to 3 in June from 7 in both April and May. COMPANY NEWS: Shares of computer memory maker Micron Technology (MU) advanced $1.24, or 3.97%, to $32.50 after the company's third quarter profits and revenue surpassed analysts' expectations. Following its report and guidance last night, Needham upgraded Micron to Strong Buy and raised its price target for shares to $50 from $40, while analysts at Roth Capital, Jefferies, and JPMorgan also raised their price targets on the stock. MAJOR MOVERS: Among the notable gainers was Vertex Pharmaceuticals (VRTX), which surged $26.92, or 40.41%, to $93.53 after its combination of drugs designed to treat cystic fibrosis succeeded in improving lung function in a pair of clinical trials. Also higher was Wix.com (WIX), which rose $2.27, or 12.77%, to $20.04 after Google (GOOG) announced it is testing a new domain service and Wells Fargo noted that the search giant is partnering with providers like Wix and others for hosting services. Among the noteworthy losers was Web.com (WWWW), which plunged $6.90, or 19.94%, to $27.70 after Google's domain name market entry. Web.com shares were defended by no less than four Street research firms, with Piper Jaffray saying it believes that concerns about the impact on Web.com are overblown. Also lower was IntercontinentalExchange (ICE), which fell $8.01, or 4.04%, to $190.18 after Wells Fargo downgraded its stock to Market Perform from Outperform, citing high earnings expectations and a lower assumed growth rate for its core energy business. INDEXES: The Dow fell 119.13, or 0.7%, to 16,818.13, the Nasdaq dropped 18.32, or 0.42%, to 4,350.36, and the S&P 500 declined 12.63, or 0.64%, to 1,949.98.
News For MU;WWWW;GOOG;ICE;VRTX;WIX From The Last 14 Days
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August 25, 2014
13:08 EDTGOOGAmazon in late-stage talks to buy Twitch, The Information reports
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07:44 EDTGOOGMobileIron could benefit from BlackBerry replacements, says Deutsche Bank
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06:00 EDTGOOGMicrosoft readying Chromecast competitor, GigaOM reports
Microsoft (MSFT) is building a competitor to Chromecast (GOOG), GigaOM reports, citing documents filed last week with the FCC. The documents reveal that the streaming dongle will come with an HDMI port, Wi-Fi and a USB connection for power supply. Reference Link
August 24, 2014
21:53 EDTGOOGNational Association of Chain Drug Stores to hold an expo
2014 NACDS Total Store Expo to be held in Boston on August 23-25.
16:46 EDTGOOGChina looks to establish 'homegrown operating system,' Reuters says
China is looking to help its computer technology industry by developing its own "homegrown operating system by October," says Reuters. China's "homegrown operating system" would pose a challenge to imported rivals like Microsoft (MSFT), Google (GOOG) and Apple (AAPL), added Reuters. Reference Link
14:09 EDTGOOGAmazon develops ad sales program in challenge to Google and Microsoft, WSJ says
Amazon (AMZN) is developing its own software for placing ads online that may utilize the online retailer's knowledge of millions of Web shoppers, says the Wall Street Journal. Amazon's new ad platform which is called Amazon Sponsored Links may be tested this year and is a potential challenge to Google's (GOOG) and Microsoft's (MSFT) advertising business, added the Wall Street Journal. Reference Link
August 22, 2014
16:04 EDTWWWWWeb.com files to sell 213,200 shares of common stock for holders
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15:15 EDTGOOGGoogle wins victory in German publisher complaint, Re/code says
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13:53 EDTGOOGGoogle acquires Gecko Design
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August 21, 2014
10:17 EDTMUStocks with call strike movement; MU HTZ
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06:21 EDTGOOGGM product chief thinks Google might become 'threat,' Bloomberg says
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06:12 EDTMUDRAM prices making downward correction with oversupply concerns, DigiTimes says
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06:05 EDTGOOGGoogle unit leads $100M infusion in Thumbtack, WSJ reports
Google's Google Capital unit is leading a $100M funding round in Thumbtack, a services marketplace, the Wall Street Journal reports. The investment, which also includes Tiger Global Management and Sequoia Capital, values Thumbtack at over $800M. Reference Link
August 20, 2014
13:46 EDTGOOGVerizon looking to build app store, The Information says
Verizon (VZ) is looking to partner with other companies to build an app store, according to The Information. Verizon's app store would compete with Google (GOOG) and Apple (AAPL), which already sell smartphone software, The Information noted. Reference Link
09:24 EDTGOOGVringo intends to seek en banc review of decision in I/P Engine case
Vringo (VRNG) announced that its wholly-owned subsidiary I/P Engine, Inc. intends to file a petition with the United States Court of Appeals for the Federal Circuit seeking en banc review of the split appellate decision in its case against AOL (AOL), Google (GOOG) et al. that issued on August 15 and reversed the judgment of the United States District Court for the Eastern District of Virginia. Under the Federal Circuit's rules, I/P Engine's petition for en banc review is due on September 15. I/P Engine has filed an unopposed motion seeking a 30-day extension, which would make its petition due October 15. Upon receiving the requested extension, I/P Engine may file the petition on or anytime prior to October 15.
07:01 EDTGOOGGarmin introduces first Android-based fleet navigators
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06:36 EDTGOOGIliad speaks to Google, Microsoft regarding T-Mobile offer, NY Post says
After Iliad's (ILIAF) surprise bid for T-Mobile (TMUS) was rejected, the firm is now in contact with , personnel at Google (GOOG) and Microsoft (MSFT) about working together to come up with a larger offer for the company, according to the New York Post, citing a "well-placed" source. Reference Link
August 19, 2014
06:50 EDTGOOGImages show impending Google music subscription service, Android Police says
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06:13 EDTGOOGContinental AG hires Google's Seval Oz to lead new division, WSJ reports
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05:57 EDTGOOGGoogle to offer accounts to children under 13, WSJ reports
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