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Stock Market & Financial Investment News

News Breaks
April 4, 2014
16:30 EDTAPC, FB, HALO, SNX, AMZN, SYMC, GRUB, NFLXOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower, with the Nasdaq leading the way lower, losing more than 2.5% as a number of momentum stocks in the technology and biotech space continued to see losses as they have over much of the last month of trade. After a quiet open to the session following a slightly better-than-expected U.S. jobs report, selling took hold and did not relent, as the averages finished the session just off their worst levels. ECONOMIC EVENTS: In the U.S., the Department of Labor's monthly jobs report showed nonfarm payrolls increased 192K in March, versus the consensus forecast for 200K job additions. Notably, February's job gain was revised up to 197K from the prior estimate of 175K and January war revised up to 144K from 129K. The unemployment rate in March was steady at 6.7%. COMPANY NEWS: A number of tech names that had been leaders during 2013's rally continued to face selling pressure, as they have for much of the last month or so of trade. Streaming internet video service Netflix (NFLX), which gained more than 300% in 2013, fell $17.38, or 4.90%, to $337.31. Other tech leaders, including Amazon (AMZN), down $10.62, or 3.18%, to $323.00, and Facebook (FB), down $2.74, or 4.61%, to $56.75 also lost ground, with both stock's now down more than 20% from their best levels reached earlier this year... Four new stocks made their debuts on the New York Stock Exchange and Nasdaq this morning, highlighted by the initial public offering of food delivery service GrubHub (GRUB), which gained $8.00, or 30.77%, to close at $34.00 in its first day of trade. MAJOR MOVERS: Among the notable gainers was SYNNEX (SNX), up $14.52, or 23.26%, to $76.94 after the company's first quarter results and second quarter outlook topped analysts' consensus estimates. Also higher was Anadarko Petroleum (APC), up $2.03, or 2.05%, to $101.05 to add to yesterday's gain after finalizing a settlement related to its case with Tronox (TROX). A number of analyst firms were positive on shares following the settlement, with no fewer than four firms raising their price targets while analysts at JPMorgan upgraded the stock to Overweight from Underweight. Also higher was Symantec (SYMC), up 22c, or 1.10%, to $20.25 after a report from Reuters said the company has been seeking advice from investment banks as it prepares to defend itself against potential involvement from activist investors. Also lower was Halozyme (HALO), down $3.16, or 27.26%, to $8.43 after an independent committee recommended it temporarily halt patient enrollment and dosing of a Phase 2 trial evaluating a drug in patients with pancreatic cancer. INDEXES: The Dow was down 159.84, or 0.96%, to 16,412.71; the S&P 500 was down 23.68, or 1.25%, to 1,865.09; the Nasdaq was down 110.02, or 2.60%, to 4,127.73.
News For NFLX;AMZN;FB;GRUB;SNX;APC;SYMC;HALO From The Last 14 Days
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January 13, 2015
08:15 EDTSNXSYNNEX Q4 results increase bullish conviction, says Brean Capital
Brean Capital said the Q4 results and guidance from SYNNEX support the firm's bullish investment framework. The firm sees continued growth and solid operating leverage as well as the potential for higher margins. Brean Capital reiterated its Buy rating and $90 price target on SYNNEX shares.
07:28 EDTAMZNAmazon says created, filled over 6,000 permanent jobs across EU in 2014
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07:26 EDTAMZNAmazon.com survey suggests solid growth trends, says RW Baird
Baird said their recent inventory survey for Amazon.com suggests solid growth trends in selection and marketplace. The firm sees the selection as a key growth driver for Amazon retail. Baird reiterated its Outperform rating and $340 price target on Amazon shares.
06:16 EDTAMZNAmazon.com upgraded to Buy from Neutral at Citigroup
Citigroup upgraded Amazon.com to Buy saying the risk/reward on shares is attractive below $300. Citi believes holiday data points look good for Amazon's Q4 results and that the retailer's gross margins will rise in 2015, reversing 2014's downward trend. The firm raised its price target for Amazon to $354 from $325 and thinks the stock has support around $300. Shares of the retailing giant closed yesterday down $5.52 to $291.41.
06:07 EDTAMZNAmazon sued for $25M by Durst Organization, Forbes reports
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January 12, 2015
18:28 EDTSNXOn The Fly: After Hours Movers
UP AFTER EARNINGS: Alcoa (AA), up 1.4%; SYNNEX (SNX), up 5.4%. LOWER: Big 5 Sporting Goods (BGFV), down 8.3% after lowering fourth quarter revenue outlook... Wolverine World Wide (WWW), down 7.9% after reporting preliminary fourth quarter and fiscal 2014 results... Aimco (AIV), down 2.2% after filing to sell 8.2M shares of common stock... Brixmor Property Group (BRX), down 1.6% after offering 17.5M shares of common stock for holders.
18:24 EDTSYMCSymantec acquires staff, licenses from Boeing's Narus, WSJ reports
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16:15 EDTSNXSYNNEX announces quarterly dividend of 12.5c per share
SYNNEX announced today that its board of directors has declared a quarterly cash dividend of 12.5c per common share, payable on January 30 to the shareholders of record as of the close of business on January 16.
16:13 EDTSNXSYNNEX sees Q1 EPS $1.49-$1.54, consensus $1.45
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16:12 EDTSNXSYNNEX reports Q4 EPS $1.83, consensus $1.69
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16:00 EDTAMZNOptions Update; January 12, 2015
iPath S&P 500 VIX Short-Term Futures up 1.57 to 33.54. Option volume leaders: AAPL TSLA TWTR AMZN AA SIRI RIG FRO C according to Track Data.
15:26 EDTSNXNotable companies reporting after market close
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11:48 EDTFBFacebook February volatility elevated at 39
Facebook January call option implied volatility is at 32, January weekly is at 29, February is at 39, March Is at 33; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement.
10:24 EDTFBFacebook, Xiaomi held talks over Facebook investment, Reuters says
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10:12 EDTFBFacebook discussed potential investment in Xiaomi, Reuters reports
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09:15 EDTHALOHalozyme sees FY15 revenue $85M-$95M, consensus $97.23M
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09:15 EDTHALOHalozyme anticipates expanding and accelerating PEGPH20 development efforts
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09:04 EDTAMZN, NFLXAmazon wins first Golden Globe for 'Transparent,' Business Insider reports
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08:18 EDTNFLXNetflix January weekly volatility elevated into Q4 and outlook
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January 11, 2015
18:54 EDTAPCCourt refuses to hear BP appeal for Deepwater Horizon liability, NY Times says
BP's (BP) request for a federal appeals court to reconsider its 2014 ruling that the company remains liable of federal penalties for the Deepwater Horizon spill in 2010 was denied, reports the New York Times. A trial will take place this month to determine BP's and Anadarko Petroleum's (APC) penalties for violation of the Clean Water Act, the Times adds. Reference Link
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