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Stock Market & Financial Investment News

News Breaks
March 21, 2014
12:22 EDTSYMC, V, ANN, NKE, RALY, ECYTOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Dow and S&P rising to record highs and the Nasdaq a bit below its starting level. Stocks began the session in positive ground as traders rolled out positions due to “quadruple witching,” when stock index futures, stock index options, stock options, and single stock futures expire. The market soon found a level and has moved in a fairly narrow range during the morning, which is typical as quadruple expirations days tend to be more volatile at the open and the close. ECONOMIC EVENTS: In the U.S., no notable economic reports were released. COMPANY NEWS: Shares of Dow-member Nike (NKE) fell 3% despite the company reporting third quarter adjusted profits that beat analysts’ forecast. Nike said it expect its revenue to come in at the top end of its high-single digit growth target range in this fiscal year, but cautioned that the devaluation of developing market currencies will be a "significant drag" on reported revenue, gross margin and profit growth in fiscal year 2015... Visa (V) shares gained over 2.5% after Bloomberg and Reuters reported that a federal appeals court ruled the Federal Reserve was authorized to cap debit card swipe fees, reserving a prior lower court ruling in favor of retailers who oppose the cap. MAJOR MOVERS: Among the notable gainers was Endocyte (ECYT), which was up more than 90% near midday after the company announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency issued "positive opinions" for conditional authorizations for its Vynfinit, Folcepri and Neocepri treatments. The company also announced a Phase 2b lung cancer trial met its primary endpoint. Following both pieces of news, no fewer than three analyst firms increased their price target on the stock. Also higher was Ann Inc. (ANN), which gained 14% after Golden Gate Capital last night disclosed a 9.5% stake in the retailer and said it plans to leverages its retail and equity experience to create value for shareholders. Among the noteworthy losers was Symantec (SYMC), which sunk 14% near noon after the company last night announced it terminated its CEO, Steve Bennett. No fewer than five analysts downgraded shares of the company following the news. Also lower was Rally Software (RALY), which fell more than 8% after the cloud software company gave a first quarter and fiscal 2015 outlook that came in below expectations. INDEXES: Near midday, the Dow was up 102.79, or 0.63%, to 16,433.84, the Nasdaq was down 0.48, or 0.01%, to 4,318.80, and the S&P 500 was up 9.26, or 0.49%, to 1,881.27.
News For NKE;V;ECYT;ANN;SYMC;RALY From The Last 14 Days
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January 29, 2015
13:31 EDTVVisa technical notes before earnings
On the daily chart there is a clear rounded top pattern that follows a large bullish gap and run back in October of last year. This is a bearish chart, and if we were clear of earnings news it would suggest the stock was better for a sale. As we know, patterns and chart conditions are subject to failure more in earnings season than at any other time, other than unexpected events. If there is a negative surprise, support levels to watch as potential downside objectives are at $240.98 and then at $236.65 and $228.02. The latter level is the top of the bullish gap from October. If the news is a positive surprise, resistance levels to watch as potential upside objectives are at $250.92, $258.45, and $264.47. The $260 level may be tough resistance to overcome unless the news is extremely positive.
13:24 EDTVEarnings Preview: Analysts have mixed views on Visa ahead of results
Visa (V) is expected to report first quarter earnings after the market close on Thursday, January 29 with a conference call scheduled for 5:00 pm ET. Visa is a credit card network. EXPECTATIONS: Analysts are looking for earnings per share of $2.49 on revenue of $3.34B, according to First Call. The consensus range for EPS is $2.40-$2.58 on revenue of $3.26B-$3.44B. LAST QUARTER: Visa reported stronger than expected fourth quarter profit and revenue. Its payments' volume growth increased 12%, versus the same period a year earlier. Visa maintained its outlook for revenue gains in the low double percentage levels in fiscal 2015. Visa also authorized a new $5B share repurchase program. Visa CEO Charlie Scharf said that he believes that mobile payment platforms will significantly increase Visa’s growth, Reuters reported on October 30. STREET RESEARCH: Although Visa is facing significant foreign exchange headwinds and lower gas sales could cut its volumes in the near-term, its near-term fundamentals and long-term outlook remain encouraging, Oppenheimer wrote in a note to investors on January 23..Few companies have such “strong, defensible market positions” and upbeat long-term growth prospects, the firm contended. Oppenheimer left its 2015 and 2016 EPS estimates for Visa unchanged and kept an Outperform rating on the shares. Bernstein on January 26 raised its price target on Visa to $283 from $262, citing a number of positive trends, including margin expansion caused by a shift to online purchases that have higher margins,. Also likely to help Visa are higher global payments volumes due to more favorable to macro trends and market share, and the conversion of the Chase portfolio to Visa in the U.S., the firm contended. Online purchases have higher margins partly because they have a greater percentage of credit card versus debit transactions, and are more likely to be international transactions, the firm explained. Bernstein expects Visa to report in-line Q1 EPS, but it predicts that the company’s 2015 EPS guidance will beat expectations by 6c. The firm kept an Outperform rating on the stock. Less upbeat was Wells Fargo, which predicted that Visa would report weaker than expected results. Visa’s transaction growth was probably in-line with expectations, as retailers’ comments do not indicate that it will beat expectations, the firm believes. Meanwhile, foreign exchange fluctuations are likely to weigh on Visa’s results, making a significant earnings beat unlikely, Wells believes. It kept a Market Perform rating on the stock. PRICE ACTION: Visa's stock is up 14.5% over the last three months but down 6% year-to-date.
12:12 EDTVVisa January weekly volatility elevated into Q1 and outlook
Visa January weekly call option implied volatility is at 115, February is at 33, March is at 26; compared to its 26-week average of 21 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on January 29.
January 28, 2015
08:47 EDTNKEAdidas CEO has no intention to resign despite losses to Nike, Reuters says
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08:02 EDTSYMCSymantec says independent information management company to be called Veritas
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January 27, 2015
11:38 EDTVVisa January weekly volatility elevated into Q1 and outlook
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January 26, 2015
08:56 EDTVVisa price target raised to $283 from $262 at Bernstein
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January 23, 2015
12:39 EDTNKElululemon rises after JPMorgan analyst says EPS can more than double
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06:36 EDTNKElululemon upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded lululemon (LULU) to Overweight saying its recent field work has indicated positive traffic and demand trends while management is laying the foundation for sustainable growth. The firm raised its price target for shares to $75 from $50. The retailer of athletic apparel closed yesterday up 90c to $63.76. JPMorgan notes that its $75 price target reflects a 20% discount to peers Nike (NKE) and Under Armour (UAUA).
January 21, 2015
13:38 EDTVEarnings Preview: eBay shares rise over 5.5% since last earnings report
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January 20, 2015
09:44 EDTVSupreme Court denies appeal of 'swipe fee' ruling, Reuters reports
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January 15, 2015
08:24 EDTRALYRally Software outlook positive, says JMP Securities
After meeting with Rally Software's management, JMP Securities thinks that the company's tone of business is very good, while it is poised to report seasonally strong Q4 results, and its pipeline for Q1 looks good. The firm is now more confident in its above-consensus estimates for the company and reiterates an Outperform rating on the stock.

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