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Stock Market & Financial Investment News

News Breaks
September 3, 2013
12:51 EDTCYTK, TU, LF, VZ, JAH, MSFT, VOD, NOK, ALUOn The Fly: Midday Wrap
Investors came back to Wall Street following the long holiday weekend and bought stocks, sending the major averages higher on the first day of trading in September. The market, coming off its worst performing month of the year, reacted to the lack of military action by the U.S. in Syria as well as some better than expected economic data at home and abroad. ECONOMIC EVENTS: In the U.S., Markit's final PMI reading for August came in at 53.1, which missed the expectation for a 54.0 reading. The Institute for Supply Management's manufacturing PMI beat expectations with a rise to a 55.7 two-year high from 55.4 in July. Construction spending in July rose 0.6%, versus expectations for a 0.4% increase. In Europe, Markit's euro-zone manufacturing PMI rose to 51.4 in August from 50.3 in July. In Asia, China’s official PMI rose to 51.0 in August from 50.3 in July, while the HSBC/Markit manufacturing PMI rose to 50.1 from 47.7 in July. China's non-manufacturing PMI held relatively steady at 53.9, compared to 54.1 in the prior month. COMPANY NEWS: Two large merger and acquisition deals were announced as U.S. investors returned from Labor Day, including one that was largely expected and one that was quite unexpected. Verizon (VZ), as had been speculated last week, agreed to buy Vodafone's (VOD) 45% stake in their U.S. joint venture, Verizon Wireless, for $130B. Shares of both trading in New York fell following the announcement. Meanwhile, Microsoft (MSFT) agreed to buy Nokia’s (NOK) mobile phone business and license its patents for $7.2B. Following the deal, no less than five firms raised their rating on Nokia, which advanced about 30% near noon. Microsoft was the worst performing Dow component, falling over 6% after its purchase... In a smaller M&A deal that still involved a well-known brand, consumer products company Jarden (JAH) agreed to buy Yankee Candle Company for $1.75B. MAJOR MOVERS: Among the notable gainers was Alcatel-Lucent (ALU), which rose nearly 11% as some speculated it could be another M&A target following Nokia's deal. Also higher was Canadian wireless company Telus (TU), which rose more than 7% and was upgraded at BMO Capital after Verizon's large deal meant it will not be entering the Canadian wireless market for the time being. Among the noteworthy losers Cytokinetics (CYTK), which fell 23% after announcing a clinical trial of its drug omecamtiv did not hit its primary endpoint. Also lower were shares of educational toymaker LeapFrog (LF), which slid almost 5% after an analyst at BMO Capital Markets said the company's new LeapPad Ultra was disappointing and buggy during tests. INDEXES: Near noon, the Dow was up 11.28, or 0.08%, to 14,821.59; the Nasdaq was up 24.09, or 0.67%, to 3,613.96; and the S&P 500 was up 6.08, or 0.37%, to 1,639.05.
News For NOK;MSFT;VZ;VOD;JAH;ALU;TU;CYTK;LF From The Last 14 Days
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July 20, 2015
16:35 EDTJAHJarden initiated with a Buy at Sterne Agee CRT
Target $61.
16:01 EDTMSFTOptions Update; July 20, 2015
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15:01 EDTVZNotable companies reporting before tomorrow's open
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14:49 EDTVZVerizon July weekly volatility increases into Q2 and outlook
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14:22 EDTVZ, VODEarnings Watch: Verizon to report Q2 results after AOL acquisition
Verizon Communications (VZ) is expected to report second quarter earnings before the market open on Tuesday, July 21, with a conference call scheduled for 8:30 am ET. Verizon is a holding company providing communications, information and entertainment. EXPECTATIONS: Analysts are looking for earnings per share of $1.01 on revenue of $32.45B, according to First Call. The consensus range for EPS is 93c-$1.05 on revenue of $31.75B-$33.0B. LAST QUARTER: Verizon reported first quarter EPS of $1.02 against estimates for 95c on revenue of $32B against estimates for $32.27B. Verizon Wireless had 565,000 retail postpaid net additions in Q1, a 4.8% increase compared with first-quarter 2014. At the end of Q1, the company had 108.6M retail connections, a 5.1% year-over-year increase, and had 102.6M retail postpaid connections. The company added 621,000 4G smartphones to its customer base in Q1. In light of a net decline in 3G smartphones, overall smartphone growth totaled 247,000. The company also added 820,000 4G tablets and reported net declines of 385,000 basic phones and 188,000 prepaid devices in Q1. 4G devices now constitute approximately 70% of the retail postpaid connections base, up from 49% a year ago – with the 4G LTE network handling about 86% of total wireless data traffic in Q1. At 1.03% in Q1, retail postpaid churn improved both sequentially and year over year. Retail postpaid smartphone customer churn was less than 0.9%. Verizon added 133K net new FiOS Internet, and 90K net new FiOS Video connections in Q1. Verizon had totals of 6.7M FiOS Internet and 5.7M FiOS Video connections at the end of the first quarter, representing year-over-year increases of 9.4% and 7.9%, respectively. CEO Lowell McAdam said, “We are confident in our ability to maintain momentum and continue to add value for customers and shareholders.” On May 12, Verizon announced it would acquire AOL for $50 per share, or $4.4B. The transaction was completed on June 23. On May 19, speaking at the JPMorgan Global Technology, Media and Telecom Conference, CFO Fran Shammo said he expects net phone additions in Q2. ANALYST REACTION: Street research has been mostly mixed in the weeks leading up to Verizon’s Q2 earnings report. On May 12, Macquarie downgraded Verizon to Underperform from Neutral with a $45 price target to reflect a weaker 2016 and 2017 earnings outlook. The firm's analyst believed management has made a series of questionable strategic moves beginning with the Vodafone (VOD) deal that will depress earnings. Recent advertising promotions are likely to pressure 2015 margins and ARPU and LTE capacity issues are expected in certain markets later in the year. Macquarie is surprised Verizon shares have held in around $50 with treasury yields rising and increasing Q2 promotions and does not believe this is sustainable ahead of a reset in consensus estimates. Conversely, on July 9, Stifel resumed coverage of Verizon with a Buy rating and price target of $60 per share. PRICE ACTION: Verizon’s shares are down about 3% since the company's Q1 report. Over the past twelve months, they are down about 5.7%. In afternoon trading ahead of Tuesday's Q2 report, Verizon’s shares are up 0.6%.
12:16 EDTNOKHERE offering free HD map data for automated vehicle tests
HERE, a Nokia (NOK) company, announced it is making high-definition mapping data of sections of public roads in four countries available to all automotive companies to support their highly automated vehicle initiatives. HERE is offering HD mapping data of specific stretches of open road in Silicon Valley and Michigan in the United States, as well as in France and Germany, to all carmakers and automotive suppliers for test purposes. HERE plans to offer data for Japan too later this year. HERE is currently working with more than 10 "leading automotive companies" on automated driving projects, the company said. Publicly traded automakers include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
09:04 EDTMSFTGE chooses Microsoft Office 365 fro employee collaboration and productivity
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07:41 EDTVODBT CEO: Company split doesn't solve problems, Telegraph reports
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July 19, 2015
19:04 EDTMSFTMicrosoft to buy Adallom for $320M, Globes says
Microsoft has agreed to acquire cyber security firm Adallom for roughly $320M, reports Globes, without naming sources. Reference Link
July 17, 2015
13:29 EDTALUWireless infrastructure shares up after Ericsson,TESSCO report
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08:05 EDTMSFTLexmark launches Kofax View for Microsoft Outlook
Lexmark (LXK) announced the availability of Kofax View, the first document viewing, editing and PDF creation application for Microsoft (MSFT) Outlook. “Microsoft Office delivers exceptional workforce productivity and Microsoft Outlook is central to increased productivity through collaboration. Kofax View gives Outlook users—including Outlook for Office 365 users in the cloud—the ability to more easily create, manage and share familiar document types for improved communication that significantly streamlines the workflow process,” said David Caldeira, product marketing executive, Lexmark Enterprise Software.
06:11 EDTJAHJarden 16M share Secondary priced at $54.50
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July 16, 2015
19:27 EDTVZFCC reforms bidding rules for spectrum auctions, prohibits joint bidding
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13:11 EDTMSFTMicrosoft July weekly volatility elevated into Q4 and outlook
Microsoft July weekly call option implied volatility is at 36, August is at 27, September is at 20 compared to its 52-week range of 15 to 29, suggesting large near term price movement into the expected release of Q4 results on July 21.
10:04 EDTVZU.S. Cellular offers 'guarantee' to beat Verizon and AT&T plans
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09:10 EDTMSFTMicrosoft to acquire FieldOne Systems, terms not disclosed
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06:33 EDTJAHJarden announces offering of 14M shares of common stock
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06:23 EDTJAHJarden sees Q2 revenue about $2B, consensus $1.96B
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05:46 EDTMSFTMicrosoft may increase smartphone outsourcing in Taiwan, Vietnam, DigiTimes says
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05:46 EDTMSFTMicrosoft's new Surface expected to be available in October, DigiTimes reports
Microsoft's new Surface tablet is expected to be launched in October after upstream supply chains have been notified to start mass shipments of components in September, reports DigiTimes. According to sources, Microsoft's Surface Pro shipments were 200K-250K units per month in Q1 and its monthly tablet shipment volume rose to above 300K. Sources say Microsoft's monthly tablet shipments may have a chance to reach 500K-600K units. Reference Link
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