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October 8, 2015
16:25 EDTNFLXNetflix initiated with a Market Perform at BMO Capital
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16:02 EDTNFLX, AMZNOptions Update; October 8, 2015
iPath S&P 500 VIX Short-Term Futures down 1.04 to 21.22. Option volume leaders: AAPL NFLX FB TWTR BAC EMC TSLA GE HUN FCX P BABA AA INTC AMZN GPRO
14:24 EDTAMZNEtsy drops 4% after Amazon launches Handmade marketplace
Retail marketplace Etsy (ETSY), which focuses on handmade, vintage, and craft items, is falling intraday after the launch of a competing service from (AMZN). WHAT'S NEW: Handmade at Amazon went live on Thursday with more than 80,000 items from about 5,000 sellers in multiple countries. Amazon VP Peter Faricy, who is overseeing Handmade, said, "You can think of it as a factory-free zone, a mass-produced-free zone. For the first time on Amazon, we're going to have a picture of the artist, a little icon of what state they're from, what country they're from. We're going to launch with an experience that's very different. Customers are going to see the difference." WHAT'S NOTABLE: While Handmade at Amazon promotes strictly "unique, handcrafted goods" that must meet Amazon's definition of handmade, Etsy has allowed sellers to use manufacturing partners since 2013, which has caused issues and backlash around mass-manufactured items posing as handmade items. PRICE ACTION: Etsy is trading down about 4% to $13.63 in afternoon trading, while Amazon shares are lower by 2.5%.
13:54 EDTNFLXNetflix spikes higher on price hike for standard streaming plan
The shares are up over 2% on the day to $110.35 after hitting as low as $102.62 earlier in the session. There is small bullish flag pattern on the intraday chart that has upside potential to the $116 area. The pattern would not be valid below $109.
13:39 EDTAMZNAmazon Web Services announces AWS IoT
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13:25 EDTNFLXNetflix shares rise after price for standard plan bumped up to $9.99
Shares of streaming service provider Netflix (NFLX) have moved into positive territory in afternoon trading after the company raised the starting price for its most popular subscription to $9.99 per month. The $1 price increase for a "Standard" subscription, which was reported on by Bloomberg and CNBC, is now reflected on the company's U.S. website. The "Basic" plan, which allows viewing on one screen, is offered to new customers at $7.99 and a four screen "Premium" plan is offered to new U.S. customers for $11.99. Netflix, which was in negative ground prior to Bloomberg's report about the price increase, has turned positive. Shares are up 3% at time of writing near $111.50 per share.
13:11 EDTNFLXNetflix to raise price for two screen plan by $1 per month, Bloomberg reports
Netflix plans to raise the price of its two screen subscription by $1 per month to $9.99 in the U.S., Canada and parts of Latin America, according to Bloomberg, citing a person familiar with the matter. The price will rise first for new customers and existing users will be given some grace period before the increase, the report said, adding that prices for the less popular one screen and four screen plans will not be affected. Reference Link
13:06 EDTNFLXNetflix GoPro volatility at upper end of one-month range
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13:02 EDTNFLXNetflix to raise price for two screen plan by $1 per month, Bloomberg report
The report, which cites a person familiar with the company's plans, said the prices for less popular one screen and four screen plans will not be affected.
12:20 EDTAMZNOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Dow a bit higher, the S&P little changed and the Nasdaq lagging. The averages began the session uniformly in negative territory, but began to pare their losses almost immediately, then spent the rest of the morning teetering near the flat line. The tepid action is not surprising as investors await the release of the minutes from last month's FOMC rate setting meeting. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped to 263,000 in the week ended October 3, versus expectations for 273,00 first-time claims. Investor attention is clearly focused on this afternoon's release of the FOMC minutes for the September 16-17 policy meeting, given the Fed's surprise decision to delay liftoff at that time. The minutes are scheduled to be released at 2 pm EDT. In Asia, markets were mixed, with Japan, Hong Kong, Taiwan and India all seeing some profit taking following days of strong gains, though mainland China re-opened for the first time since last Wednesday following the Golden Week holiday and saw a catch-up rally that pushed the Shanghai composite up about 3%. COMPANY NEWS: EMC (EMC) rose over 5.5% in early trading amid conflicting reports regarding M&A talks between the IT services and software company and Dell, which is privately owned by founder Michael Dell and private-equity partner Silver Lake. Last night, The Wall Street Journal reported that Dell and Silver Lake are in "advanced talks" to buy EMC, noting that one source indicated the deal being discussed calls for the buyers to spin off EMC's VMware (VMW) unit. Then, Re/code's Arik Hesseldahl reported that EMC has approached Dell in recent weeks about selling its VNX data storage business to the private technology company, but contended that acquiring a unit would make more logical and financial sense for Dell than buying all of EMC. However, CNBC's David Faber subsequently said, in keeping with the Journal, that Dell is in talks to acquire all of EMC for "above $27 per share," adding that a deal could be announced as soon as a week from now. Several analysts weighing in on the potential for a deal expressed doubt that a takeover of EMC by Dell is likely, but agreed that some alternate deal may make sense, adding that a potential Dell-EMC tie-up would be negative for HP Enterprise (HPQ)... Shares of eBay (EBAY) were among the worst performing on the S&P 500, sliding almost 8% near noon. The weakness in the online marketplace operator followed a report from e-commerce solutions and data provider ChannelAdvisor (ECOM), which estimated that eBay's same-store sales growth decelerated to 1.1% in September from August's 3.4% rate. In the same blog post, ChannelAdvisor reported that Amazon's (AMZN) same-store sales grew 19.2% in September, noting that was a decrease compared to August's 24.7% SSS growth rate. MAJOR MOVERS: Among the notable gainers was Tronox (TROX), which jumped 18.5% after Bloomberg reported that Apollo Global (APO) was mulling a takeover of Chemours (CC) as a potential first step in then consolidating titanium-dioxide makers. Shares of Chemours gained 7.5% following the report. Also higher were Polycom (PLCM) and Mitel (MITL), which gained 15% and 17%, respectively, after Elliott Management disclosed stakes in both companies and urged the two to consider a combination. Among the noteworthy losers was BioCryst (BCRX), which dropped 21% after the company said it completed patient enrollment in its clinical trial of orally-administered avoralstat in patients with hereditary angioedema, noting that without a deferral an NDA filing would occur in 2018. That NDA timing estimate was further out than prior comments from the company. Also lower was GoPro (GPRO), which fell 5.7% after Cleveland Research downgraded the stock to Neutral from Buy and lowered estimates below consensus to reflect deterioration in action camera shipments. INDEXES: Near midday, the Dow was up 25.75, or 0.15%, to 16,938.04, the Nasdaq was down 30.53, or 0.64%, to 4,760.62, and the S&P 500 was barely changed at 1,995.32.
11:04 EDTGOOGDirecTV launches Big Knockout Boxing virtual reality app
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10:15 EDTAMZNGroupon retreats after analyst starts coverage with sell rating
The shares of Groupon (GRPN) after falling after research firm Cowen initiated coverage of the stock with an Underperform rating, the firm's equivalent to a sell, warning that the company's operating margins are "low and trending down." WHAT'S NEW: Groupon's margins are "steadily deteriorating" as the company has lowered the amount it charges retailers who participate in its Services deals, Cowen analyst Kevin Kopelman reported. Moreover, Groupon has begun subsidizing the discounts that Services merchants offer, the analyst said. Meanwhile, the coupon company's Shopping business carries much lower margins than its Services unit and its efforts to raise Shopping's margins have yielded "choppy" progress, according to Kopelman. The year-over-year growth of Groupon's active North America customer base dropped to 10% in Q2, from 18% in the second quarter of 2014, indicating that its core market has peaked, the analyst stated. Noting that Groupon has identified food delivery as its next growth catalyst, Kopelman warned that the space is "hyper-competitive." Yelp (YELP), Amazon (AMZN) and Uber have all announced plans to enter the sector, noted the analyst, who believes that it will be difficult for Groupon to generate return on investment in the space. Kopelman set a $2.75 price target on Groupon. WHAT'S NOTABLE: Grubhub (GRUB) is a key player in the Internet food delivery space. PRICE ACTION: In early trading, Groupon fell 3.7% to $3.68, while GrubHub lost 1% to $28.18.
09:17 EDTGOOG, AMZNChannelAdvisor says Amazon September SSS up 19.2%, eBay up 1.1%
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08:04 EDTDISDisney shares a 'great' investment at current levels, says JPMorgan
JPMorgan analyst Alexia Quadrani says Disney remains her top pick in Media heading into the earnings reporting season. The owner of ABC and ESPN is seeing continued strength across all segments and is positioned for "strong" results, Quadrani tells investors in a research note. She continues to view the stock as a "great investment" at current levels. The analyst reiterates an Overweight rating on Disney with a $130 price target. The stock closed yesterday down 40c to $103.37.
07:47 EDTGOOGGoogle shares appear undervalued, says Baird
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06:16 EDTGOOGFingerprint sensors to come on more Android phones in 2016, DigiTimes reports
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05:58 EDTAMZNAmazon launches Handmade at Amazon
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05:50 EDTDISMulti Screen Media, ESPN announce agreement to create digital platform in India
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October 7, 2015
17:09 EDTDISVice in talks to buy cable network, Bloomberg says
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16:01 EDTNFLXOptions Update; October 7, 2015
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