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Stock Market & Financial Investment News

News Breaks
June 26, 2014
12:53 EDTNKE, EBAY, SSNLFEarnings 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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October 27, 2014
10:00 EDTEBAYOn The Fly: Analyst Initiation Summary
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09:14 EDTEBAYeBay initiated with a Buy at Monness Crespi
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06:33 EDTSSNLFiPhone pre-orders in South Korea topping pre-orders for Galaxy Note 4, WSJ says
Pre-orders for Apple's (AAPL) iPhone 6 and iPhone 6 Plus in South Korea are reportedly far higher than orders for the new Samsung (SSNLF) Galaxy Note 4, the Wall Street Journal reports. Analysts believe total pre-sale figures for the new iPhones are around 100,000 units, more than the 30,000 units for the Galaxy Note 4. The iPhone launches in South Korea on October 31. Reference Link
October 24, 2014
10:34 EDTSSNLFSamsung confirms plans to exit LED lamps, Lighting says
Samsung (SSNLF) confirmed that it is exiting the global LED lamps business, according to industry site Lighting. The publication quotes the company as issuing the following statement: “We have decided to discontinue our LED lamp business in all markets, except Korea, so that we can focus more resources on our core business areas. We will remain active in the LED industry through our LED component business, and continue to provide high-quality products and services to our customers.” Philips’ (PHG) recent decision to split off its lighting division has been blamed, at least in part, on the commoditized nature of the consumer LED lamp market, Lighting added. Shares of Cree (CREE), whose products consist of both LED and traditional lighting systems, are up 1% in early trading following the news of Samsung's plans. Reference Link
October 23, 2014
10:01 EDTSSNLFGeneral Dynamics receives DMCC contract from NSA
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09:22 EDTNKENike CEO 'bullish' on partnership with Apple
Nike (NKE) CEO Mark Parker made comments in an interview on Bloomberg TV. Reference Link
October 22, 2014
13:54 EDTNKENike expects womens business to reach $7B in revenue by FY17
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08:32 EDTSSNLFSamsung, Barnes & Noble introduce new large screen Galaxy Tab 4 NOOK
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06:25 EDTSSNLFSamsung, TSMC Solid State Lighting to quit LED lighting business, DigiTimes says
Samsung (SSNLF) will plan to withdraw from the global LED lighting market while TSMC (TSM) Solid State Lighting will cease operations, reports DigiTimes, citing industry sources. Samsung will withdraw due to low price pressure from China-based makers. TSMC Solid State Lighting will reportedly quit operations and sell production equipment to LED maker Advanced Optoelectronic Technology. Reference Link
October 21, 2014
18:33 EDTEBAYIcahn reiterates view that high-yield market is a bubble
Says the Fed has given the economy, or the patient, "too much medicine." Says market should not be shorted. Again, says Apple (AAPL) CEO Tim is a "great CEO." Says Apple pay has a great future. Says Ebay (EBAY) is like his past campaign at Motorola. Reiterates view that Ebay should explore Paypal sale right now. Says Dell is on his radar screen. Says Warren Buffet sometimes too easy on companies, should do more on corporate governance. Again, says has never sold a share of Herbalife (HLF). Says Western Europe has "major problems," and continues to be short the Euro. Says energy stocks "getting cheap." Carl Icahn is speaking on Bloomberg TV.
17:38 EDTEBAYIcahn would like eBay to sell PayPal right now
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17:35 EDTEBAYIcahn says pleased that Marc Andreessen leaving eBay board
Icahn is speaking in a CNBC interview.
14:09 EDTEBAYThird Point discloses new positions in eBay, Alibaba, exit from Sony
In its Q3 investor letter, Third Point says it established a "significant" position in eBay (EBAY). Dan Loeb's hedge fund also revealed it has established a significant direct investment in Alibaba (BABA) shares now that the company is public. Third Point also said it is now one of Amgen's (AMGN) largest shareholders. During the quarter, Third Point exited its position in Sony (SNE) and reduced or exited other positions, including AIG (AIG), Hertz (HTZ) and Softbank (SFTBF), the firm stated in its letter. PRICE ACTION: Following the disclosures in the Third Point letter, Amgen is up 4%, eBay is up 2.3% and Alibaba is up 3.8%, while Sony shares trading in New York are down nearly 1%.
14:01 EDTEBAYThird Point says established 'significant' position in eBay during Q3
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12:36 EDTSSNLFNXP Semiconductors loses Samsung Galaxy phone NFC business, NFC Times says
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09:12 EDTEBAYGNC, eBay, Vivendi recommended as long ideas by Sandler, Bloomberg reports
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06:27 EDTEBAYStocks with implied volatility below IV index mean; EBAY NFLX
Stocks with implied volatility below IV index mean; eBay (EBAY) 26, Netflix (NFLX) 38 according to iVolatility.
October 20, 2014
06:01 EDTEBAYStocks with implied volatility below IV index mean; EBAY NFLX
Stocks with implied volatility below IV index mean; eBay (EBAY) 27, Netflix (NFLX) 40 according to iVolatility.
05:50 EDTSSNLFSamsung partners with Teletrac to expand fleet management offerings for Android
Teletrac announced it is partnering with Samsung Electronics America to expand its fleet management offerings to the Android platform on Samsung's Galaxy Tab devices.
05:27 EDTEBAYeBay announces resignation of Marc Andreessen from board
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