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Stock Market & Financial Investment News

News Breaks
June 26, 2014
12:53 EDTNKE, SSNLF, EBAYEarnings 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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May 20, 2015
06:25 EDTSSNLFSamsung could release next Galaxy Note phone as early as July, BI reports
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May 19, 2015
19:44 EDTSSNLFSamsung's next chairman may pursue smartphone, wearables synergies, Reuters says
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12:29 EDTEBAYPayPal to pay $25M to settle CFPB charges of deceptive advertising
The Consumer Financial Protection Bureau announced earlier that it is filing a complaint and a proposed consent order against PayPal (PYPL) for illegally signing up and billing tens of thousands of consumers for its online credit product, PayPal Credit. The Bureau alleges that PayPal, which is scheduled to be separated from eBay (EBAY), lured in consumers to this product with deceptive advertising, signed up people without them knowing it, and then mishandled billing disputes when they arose. Under the CFPB's proposed order, PayPal would return the $15M that it illegally took from consumers and it would pay a $10M penalty for its wrongful actions.
07:32 EDTEBAYPacific Crest shifts preference to MasterCard, upgrades to buy
Pacific Crest analyst Josh Beck shifted his preference to MasterCard (MA) from Visa (V) and upgraded the stock to Overweight from Sector Weight. Beck believes interchange legislation in Europe may have an unintended consequence of benefiting global open-loop payment networks, favoring both MasterCard and Visa. The changes are also positive for eBay's (EBAY) PayPal and mixed for American Express (AXP), Beck tells investors today in a research note. He points out his preference for MasterCard relative to Visa follows the latter company's outperformance over the past year. Beck has a $110 price target for MasterCard shares. The stock closed yesterday down 14c to $93.08.
07:27 EDTNKESkechers moves into second place in U.S. sports footwear market, WSJ says
Skechers (SKX) moved past Adidas (ADDYY) and into second place, behind Nike (NKE), in the U.S. athletic footwear market, reports the Wall Street Journal. Reference Link
05:59 EDTSSNLFSources: Apple able to launch iPhone 6s as early as August, BGR says
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May 18, 2015
09:36 EDTSSNLFAppeal says Samsung $930M damages to Apple must be adjusted, Bloomberg reports
The U.S. Court of Appeals for the Federal Circuit ruled that Samsung (SSNLF) did infringe Apple’s (AAPL) design patents, but did not violate Apple’s trade dress, meaning the $930M damages award to Apple must be adjusted, reported Bloomberg. Reference Link
09:26 EDTSSNLFApple gets mixed ruling from appeals court in Samsung case, Bloomberg reports
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May 15, 2015
17:08 EDTEBAYSoros Fund gives quarterly update on stakes
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12:13 EDTEBAYThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
11:08 EDTEBAYOmega Advisors gives quarterly update on stakes
NEW STAKES: Targa Resources (TRGP), Targa Resources Partners (NGLS), Humana (HUM), Dow Chemical (DOW), and Twenty-First Century Fox (FOXA). INCREASED STAKES: Kinder Morgan (KMI), Chimera Investment Corporation (CIM), AerCap Holdings (AER), Shire (SHPG), and KKR & Co. (KKR). DECREASED STAKES: eBay (EBAY), Altisource Portfolio Solutions (ASPS), Caesars Entertainment (CZR), Navient (NAVI), and TerraForm Power (TERP). LIQUIDATED STAKES: HCA Holdings (HCA), Gilead (GILD), Cabot Oil & Gas (COG), and Apple (AAPL).
10:55 EDTEBAYJANA Partners gives quarterly update on stakes
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08:16 EDTSSNLFSamsung not engaged in DRAM price war with Micron, says Jefferies
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06:21 EDTSSNLFTwo Samsung foundations name Jay Y. Lee as chairman, WSJ reports
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06:13 EDTEBAYISS, Glass Lewis advise Intel investors to vote 'no' on eBay CEO, WSJ reports
ISS and Glass, Lewis & Co, two influential proxy advisory firms, are recommended Intel (INTC) investors vote against the reelection of eBay (EBAY) CEO John Donahoe to the company's board, The Wall Street Journal reports. Citing what it characterized as a poor attendance record, Glass Lewis commented "We view this as a failure by this director to fulfill a fundamental responsibility to represent shareholders at such meetings," while ISS said Donahoe "lacked a valid excuse" for attending less than 75% of the meetings held by the Intel board and committees he serves on in 2014. Intel's annual shareholders meeting is scheduled for May 21. Reference Link
May 14, 2015
17:36 EDTEBAYeBay, PayPal separation remains on-track to be completed in Q3
17:35 EDTEBAYPayPal names board following separation from eBay
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17:33 EDTEBAYeBay names board following separation from PayPal
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14:58 EDTSSNLFSamsung to discontinue wallet service ahead of Pay launch, SamMobile says
Samsung will discontinue its Samsung Wallet service on June 30, reports SamMobile, citing company emails distributed to users of the service. The report notes that Samsung is planning to launch its Samsung Pay mobile payment technology later this year. Reference Link
14:30 EDTEBAYPayPal to trade on Nasdaq with symbol 'PYPL' after separation completed
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