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Stock Market & Financial Investment News

News Breaks
June 26, 2014
12:53 EDTSSNLF, EBAY, NKEEarnings Preview: Analyst sees Nike reporting better than expected Q4 EPS
Nike (NKE) is expected to report fourth quarter earnings after the bell on Thursday, June 26, with a conference call scheduled for 5:00 pm ET. Nike sells athletic footwear, apparel, equipment and accessories worldwide. EXPECTATIONS: Analysts are looking for earnings per share of 75c on revenue of $7.34B. The consensus range is 70c-80 for EPS and $7.23B-$7.44B for revenue, according to First Call. LAST QUARTER: The company reported third quarter EPS from continuing operations of 76c, beating the consensus expectation of 72c. Nike's revenue of $7B also beat the $6.69B consensus projection. Nike reported a Q3 gross margin of 44.5%, which was up 30 basis points. The company also reported worldwide futures orders were up 12% to $10.9B. Nike forecast Q4 revenue growth at a high single-digit to low double-digit rate, below the futures growth rate largely due to the timing of shipments at the beginning and end of Q4, as well as lower levels of at once and closeout sales. Nike also forecast fiscal year 2014 revenue at the top end of a high-single digit target range. NEWS: The company forecast fiscal year 2015 EPS growth "somewhat below" the mid-teens target range and sees currency neutral revenue growth at or slightly above the high-single digit target range. The consensus forecast is $3.37 for EPS and $30.09B for revenue. On its Q3 earnings conference call, Nike predicted Q4 forex headwinds would be stronger than Q3. During the quarter, Reenie Benzinger was named Vice President of global apparel and eBay (EBAY) Chief Executive Officer John Donahoe was named to Nike's board. CNet said Nike was preparing to end production of wearable-hardware devices and laid off most of its workers responsible for developing its FuelBand fitness tracker. A spokesperson confirmed a "small number" of layoffs. The Wall Street Journal noted that older versions of Nike's FuelBand were up for sale at steep discounts. Bloomberg said Nike, which forecast revenue to hit $36B by the end of FY17, is looking to make its activity-tracking software the go-to app for products manufactured by other firms like Samsung (SSNLF). STREET RESEARCH: Sterne Agee believes that Nike's Nike and Jordan footwear sales in the U.S. have continued to be strong. The firm expects Nike will report higher than expected EPS for Q4. Canaccord does not see any upward revisions to guidance and expects growth to be somewhat below the mid-teens range. PRICE ACTION: Over the last three months, Nike shares are up almost 4%. Year-to-date, shares are up down over 3%. Ahead of this afternoon's earnings, shares are trading down 38c, or 0.5%, to $76.09.
News For NKE;EBAY;SSNLF From The Last 14 Days
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April 17, 2015
07:45 EDTEBAYEtsy multiple 'well beyond' high end of any comparable group, says Wedbush
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April 16, 2015
07:44 EDTSSNLFApple calls audible to award 30% of A9 chip orders to TSM, Apple Insider says
Apple (AAPL) has made a "last minute decision" to recruit TSMC (TSM) for 30% of A9 chip orders for its next iPhone after GlobalFoundries continued to experience poor yield rates on production of the next-generation CPU, reports AppleInsider. According to a note from KGI Securities Ming-Chi Kuo, Globalfoundries A9 chip yield rate was at about 30% iyeld rate, well below the "basic requirement" of 50%. Kuo adds that Apple is concerned that Samsung's (SSNLF) chipmaking business may not be able to supply enough of its 14-nanometer design. Reference Link
05:55 EDTSSNLFGalaxy S6 expected to reach 70M in sales during 2015, DigiTimes reports
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April 15, 2015
15:05 EDTSSNLFEarnings Watch: SanDisk to report Q1 results after lowering revenue guidance
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10:23 EDTEBAYJD.com Launches JD Worldwide cross-border e-commerce platform
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10:06 EDTSSNLFSamsung creates team to work exclusively on Apple devices, Bloomberg reports
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10:00 EDTNKEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Tower (AMT) upgraded to Outperform from Neutral at Macquarie... Ameriprise (AMP) upgraded at Morgan Stanley... Builders FirstSource (BLDR) upgraded to Buy from Neutral at Sterne Agee... China Telecom (CHA) upgraded to Outperform from Market Perform at Bernstein... China Unicom (CHU) upgraded to Outperform from Underperform at Bernstein... Discover (DFS) upgraded to Overweight from Neutral at JPMorgan... EV Energy (EVEP) upgraded on asset sale at RBC Capital... GoPro (GPRO) upgraded to Overweight from Neutral at Piper Jaffray... Intel (INTC) upgraded on valuation at RBC Capital... Nike (NKE) upgraded to Overweight from Neutral at Piper Jaffray... Nokia (NOK) upgraded to Market Perform from Underperform at Bernstein... Rice Energy (RICE) upgraded to Buy from Neutral at Goldman... Staples (SPLS) upgraded to Buy from Hold at BB&T... Team (TISI) upgraded to Buy from Hold at BB&T... Ulta Salon (ULTA) upgraded to Overweight from Neutral at Piper Jaffray.
06:14 EDTSSNLFSamsung may be borrowing from Apple profit margin strategy, WSJ reports
Samsung (SSNLF) could be borrowing from Apple's (AAPL) profit margin strategy by charging customers $100 more for each incremental gain in storage capacity, reports the Wall Street Journal. IHS senior director of research and analytics Andrew Rassweiler said it costs Samsung makes an extra $87 in profit each time it sells a 64-gigabyte Galaxy S6 and an extra $160 each time it sells a 128-gigabye device. Rassweiler adds that Apple has been structuring its iPhone offerings like this for years to improve margins. Reference Link
05:55 EDTSSNLFSamsung Taiwan mobile business general manager to resign, DigiTimes reports
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April 14, 2015
16:25 EDTNKEPiper upgrades Nike to buy following survey of teens
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16:06 EDTNKENike upgraded to Overweight from Neutral at Piper Jaffray
12:40 EDTSSNLFPCTEL lowers FY15 revenue to $124M-$130M from $133M-$138M, two estimates $130M
Following its March 5 acquisition of Nexgen Wireless, PCTEL (PCTI) reported in a regulatory filing earlier that on April 7, Samsung Electronics America, a Samsung (SSNLF) subsidiary, provided Nexgen and PCTEL with a notice of Samsung’s election to terminate, effective April 30, the contractor services agreement between Samsung and Nexgen. Nexgen furnishes services to Samsung under the CSA including Meridian software-based services and contract personnel. The termination applies to the CSA only and will have no effect on other agreements between Samsung and Nexgen or PCTEL. The company continues to forecast 15%-18% revenue growth over FY14 and views the Nexgen acquisition as accretive to earnings in FY15. The company has revised its overall revenue forecast for FY15 in light of reduced business with Samsung, the reduction in capital spending by AT&T (T), and a decline in new network infrastructure investment in the oil and gas market. The company has revised revenue guidance from $133M-$138M to $124M-$130M. Finally, the company and Nexgen have signed a term sheet calling for a material reduction of the total consideration paid or payable by PCTEL for the Nexgen assets, and a material reduction of the equity compensation for which John Thakkar, the founder and president of Nexgen, will be eligible. These reductions seek to align the asset acquisition costs with the revised revenue and EBITDA estimates.
11:07 EDTEBAYStocks with call strike movement; EBAY RAD
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10:27 EDTSSNLFSamsung's Galaxy S6 Edge costliest phone to build, Re/code reports
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05:46 EDTSSNLFReport: Samsung to hold off release of flexible tablets in 2015, DigiTimes says
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April 13, 2015
16:18 EDTEBAYeBay announces executive appointments ahead of PayPal separation
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09:03 EDTEBAYeBay SSS grew 7.3%, Amazon SSS up 24.6% in March, ChannelAdvisor says
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08:32 EDTNKEUnder Armour rises after Spieth brings attention to golf gear
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07:12 EDTEBAYeBay PayPal unit worth $39 per share alone, says Bernstein
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06:09 EDTSSNLFSamsung semiconductor CapEx to reach $15B in 2015, DigiTimes reports
Samsung's semiconductor capital spending is expected to reach a record $15B in 2015, reports DigiTimes Research. The company's CapEx for system ICs is expected to reach $4B, mainly to finance the commencement of its Line-17 fab in Hwasong and a buildup of its plant in Austin, Texas. Reference Link
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