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Stock Market & Financial Investment News

News Breaks
April 8, 2014
12:12 EDTNKE, NOK, MSFT, CTRP, QUNR, KT, GIMO, SPNCOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the market seeks to break the losing streak that began late last week. The Nasdaq, which has suffered the most over the past week, is today's early leader with a gain of about 0.7%. The Dow and S&P have moved into positive territory as well, but their gains have been more modest to this point in the trading day. ECONOMIC EVENTS: In the U.S., the NFIB small business optimism index increased to 93.4 in March from a prior reading of 91.4, slightly beating expectations. The number of job openings was reported to have risen to 4.17M in February from a revised estimate of 3.87M in the prior month. In Asia, the Bank of Japan left its monetary stimulus program unchanged, as widely expected. The International Monetary Fund trimmed its outlook for global economic growth ahead of the spring World Bank meetings later this week. The IMF now forecasts that the world economy will expand 3.6% this year, which is a slight downgrade from its 3.7% estimate in January. COMPANY NEWS: Apparel and footwear giant Nike (NKE) led all advancers on the blue-chip Dow, rising almost 3% after research firm Stifel upgraded the stock to Buy from Hold to reflect recent weakness, reduced consensus expectations, and strong fundamentals... Shares of Nokia (NOK) trading in New York advanced over 5% after a deal to sell substantially all of its Devices & Services business to Microsoft (MSFT) received regulatory approval in China. MAJOR MOVERS: Among the notable gainers was Korean phone and high-speed Internet services provider KT Corporation (KT), which rose more than 7% after the stock was upgraded to Conviction Buy from Neutral at Goldman. Also higher were shares of Chinese travel website operators Ctrip.com (CTRP), which advanced 7%, and Qunar (QUNR), which gained 8%, after Bloomberg said the companies are in talks on a range of possibilities, from a partnership to a full merger. Among the noteworthy losers was Gigamon (GIMO), which plunged 32% after the company lowered its first quarter revenue outlook largely based on an expected large transaction from an existing customer in EMEA that did not occur. Also lower after cutting its revenue view was medical device maker Spectranetics (SPNC), which fell 11% following the negative pre-announcement. INDEXES: Near midday, the Dow was up 34.52, or 0.21%, to 16,280.39, the Nasdaq was up 29.73, or 0.73%, to 4,109.48, and the S&P 500 was up 6.07, or 0.33%, to 1,851.11.
News For NKE;NOK;MSFT;CTRP;QUNR;KT;GIMO;SPNC From The Last 14 Days
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August 14, 2014
18:04 EDTMSFT, NOKInterDigital loses patent case against Nokia, ZTE, Bloomberg reports
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17:00 EDTNOKGreenlight Capital gives quarterly update on stakes
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13:56 EDTNOKVodafone selects Nokia Networks to launch LTE network in New Zealand
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August 13, 2014
14:54 EDTMSFTEarnings Preview: Cisco reports following Deutsche upgrade, Pac Crest downgrade
Cisco Systems (CSCO) is scheduled to report fourth quarter results after the market close on Wednesday, August 13, with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 53c on revenue of $12.14B, according to First Call. The consensus range for EPS is 51c-54c on revenue of $11.8B-$12.25B. Along with its last quarterly report, Cisco guided to Q4 adjusted EPS of 51c-53c and said it expects its revenue to be down 1% to 3% in the quarter compared to the prior year. At that time, the company also said it sees its FY14 adjusted EPS to come in at the higher end of its previously communicated $1.95-$2.05 range. LAST QUARTER: On May 14, Cisco reported third quarter adjusted EPS of 51c, beating the consensus analyst forecast of 48c. It's revenue came in at $11.5B, topping the $11.38B consensus forecast. Cisco reported a Q3 adjusted gross margin of about 62.7%. NEWS: On June 17, Cisco announced its intent to acquire privately held Tail-f Systems, whose products help service providers and enterprise IT organizations easily and cost-effectively implement applications, network services and solutions across networking devices. Upon completion of the acquisition, which is expected to be complete in Q4, Tail-f employees will join Cisco's Cloud and Virtualization Group. About two weeks later, tech blog Gigaom reported that Cisco has acquired British firm Assemblage for technology that uses real-time collaboration that does not require the user to download programs or plug-ins. On July 15, Cisco announced a multi-year sales and go-to-market agreement with Microsoft (MSFT) designed to modernize data centers through the delivery and acceleration of integrated solutions. Cisco and Microsoft will both invest in sales, marketing and engineering resources to drive global alignment, while delivering deeper technology integration across cloud and data center markets, the companies stated. STREET RESEARCH: On May 21, Northland said that after speaking with Cisco's management and attending Cisco Live, the firm believed that the company is taking share form Arista Networks (ANET), which has since come public. The firm added that it did not believe that Juniper (JNPR) has gained traction in data center switching and it recommended Cisco as a cyclical recovery play and a relative bargain to peers. About a week later, Deutsche Bank upgraded its rating on Cisco shares to Buy from Hold, citing expectations that the company's new product ramps in FY15 and FY16 will be stronger than expected. Deutsche said then that it saw upside to consensus estimates and raised its price target for Cisco shares to $30 from $25. On July 28, Pacific Crest downgraded its rating on Cisco shares to Sector Perform from Outperform, citing valuation and concern that the company's margin expansion could moderate in 2015. The firm believes Cisco shares are fairly valued at $26. Less than a week ago, Morgan Stanley said its checks indicate the enterprise market is improving. The firm said it expects Cisco's outlook to be conservative and said concerns over rapid software-defined networking adoption and margin impact are overblown. Morgan Stanley has an Overweight rating with a $30 price target on Cisco. PRICE ACTION: In the last three months, Cisco has advanced about 9.5%. In afternoon trading ahead of tonight's report, Cisco shares are down 0.5% to $25.01.
August 12, 2014
13:19 EDTMSFTSony says 10M PS4 consoles have been sold since launch, TechCrunch reports
Sony has sold 10M units of the PlayStation 4 consoles to consumers since its launch last year, TechCrunch reports, citing comments made by Sony Computer Entertainment Europe CEO Jim Ryan at Gamescom 2014. Reference Link
August 11, 2014
15:19 EDTMSFTMicrosoft schedules event likely focused on Lumia phones, WMPoweruser says
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08:53 EDTSPNCSpectranetics management to meet with Craig-Hallum
Meetings to be held in Chicago/Milwaukee on August 15 hosted by Craig-Hallum.
08:52 EDTSPNCSpectranetics management to meet with JPMorgan
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06:35 EDTMSFTMicrosoft Devices unveils low-cost Nokia 130 phone
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August 8, 2014
08:42 EDTMSFTMicrosoft has made strong progress in cloud, says Pacific Crest
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08:32 EDTMSFTVMware, others could benefit from increased cloud adoption, says Pacific Crest
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August 7, 2014
12:14 EDTCTRPOn The Fly: Midday Wrap
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10:39 EDTCTRPCtrip surges after increasing ties to Priceline
Shares of Chinese online travel agency Ctrip.com (CTRP) are jumping after the company expanded its partnership with Priceline (PCLN) and received a $500M investment from the U.S. online travel giant. WHAT'S NEW: Ctrip and Priceline last night announced that under an expanded agreement Ctrip's customers will be able to access all of Priceline's accommodations outside of Greater China, while Priceline's customers will be able to access Ctrip's over 100,000 accommodations within Greater China. Additionally, Priceline and Ctrip will offer their respective hotel inventory to each other on an enlarged scale with more favorable partnership terms, including an agreement to enhance promotional efforts, the companies said. Meanwhile, Priceline will invest $500M in Ctrip through a convertible bond and Ctrip has given Priceline permission to buy Ctrip's shares on the open market. As a result, Priceline will be able to obtain a stake of up to 10% in Ctrip, the companies reported. ANALYST REACTION: A number of analysts were very upbeat on Ctrip's outlook following the news. In a note to investors today, Oppenheimer analyst Ella Ji wrote that the new deal increases Ctrip's access to Priceline's worldwide inventories and offers more cross-promotion opportunities to Ctrip. The Chinese company's expanding overseas inventory will further enhance its leadership position in China, according to Ji, who kept an Outperform rating on Ctrip. Similarly, Fawne Jiang, an analyst at Brean Capital ,wrote that the deal further enhances Ctrip's leadership position in the Chinese online travel sector. The analyst continues to recommend investing in the stock and sees it as a core holding in the China Internet sector. Jiang kept a $74 price target and Buy rating on the shares. Meanwhile, research firm CLSA responded to the news by upgrading Ctrip two notches, to Buy from Underperform. The firm now has a $78 price target on the shares. PRICE ACTION: In mid-morning trading, Ctrip jumped 11.8% to $67.60 and Priceline gained 1.2% to $1296.44.
10:00 EDTCTRPOn The Fly: Analyst Upgrade Summary
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09:08 EDTCTRPCtrip.com upgraded at CLSA
As previously reported, CLSA ugpraded Ctrip.com (CTRP) to Buy from Underperform. The analyst said Ctrip's extended partnership with Priceline (PCLN) is a strategic positive for both as they can cross-sell products and expects Ctrip to better capitalize on China's fast growing outbound travel market. Price target raised to $78.
08:12 EDTCTRPCtrip.com deal will enhance leadership position, says Oppenheimer
After Ctrip.com (CTRP) received a $500M investment from Priceline (PCLN) and the two companies strengthened their existing partnership, Oppenheimer thinks the deal will further enhance Ctrip.com's leadership position in China. The firm keeps an Outperform rating on Ctrip.com.
08:08 EDTCTRP, CTRPCtrip.com upgraded to Buy from Underperform at CLSA
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08:07 EDTCTRPCtrip.com a core China Internet/Online Travel holding, says Brean Capital
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06:33 EDTMSFTAnti-trust investigations in China reignite protectionism worries, Reuters says
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06:19 EDTMSFTMicrosoft in talks to open Fifth Avenue store, Daily News reports
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