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Stock Market & Financial Investment News

News Breaks
February 14, 2013
06:08 EDTNTAP, EMCNetApp execution improving, results more consistent, says Piper Jaffray
Piper Jaffray said its long-term thesis on NetApp (NTAP) remains unchanged following the company's Q3 results. The firm believes NetApp continues to improve its execution and that share loss to EMC (EMC) is narrowing. Piper maintains an Overweight rating on the stock and raised its price target for shares to $39 from $38.
News For NTAP;EMC From The Last 14 Days
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April 24, 2014
10:00 EDTEMCOn The Fly: Analyst Initiation Summary
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07:47 EDTEMCEMC coverage assumed with a Buy at Needham
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07:26 EDTEMCEMC weakness a buying opportunity, says Brean Capital
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April 23, 2014
12:57 EDTEMCEMC profit cycle bottomed in Q1, says Cantor
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12:01 EDTEMCVMware sinks after enterprise licenses, outlook may have disappointed
Shares of VMware (VMW), a provider of virtualization infrastructure solutions, are among today's losers despite the company having reported results that beat the consensus forecast. Several analysts contended that the company reaffirming its full-year outlook and reporting lower than expected enterprise license agreements as a percentage of bookings may have disappointed investors. WHAT'S NEW: Last night, VMware reported first quarter earnings per share of 80c and revenue of $1.36B, compared to expectations of 79c and $1.35B, respectively. VMware said Q1 license and total bookings growth was less than 10% compared to the prior year. VMware forecast Q2 revenue of $1.43B-$1.47B, compared to consensus of $1.44B. The company reaffirmed its fiscal 2014 revenue view of $5.94B-$6.1B, versus consensus of $6.03B. It also expects FY14 non-GAAP operating margin of approximately 31%. FY14 license revenue was expected to be $2.55B-$2.63B, up 12%-16% from the prior year. ANALYST REACTION: This morning, research firms Oppenheimer, Pacific Crest, and Raymond James all recommended buying VMware on any weakness. Pacific Crest said lower than expected enterprise license agreements as a percentage of bookings and weaker overall bookings growth disappointed the Street. Another firm, Janney Capital, said it believes investors may be slightly disappointed that VMware reiterated its prior guidance after its Q1 EPS slightly beat expectations. However, the firm believes the stock's valuation offers a good entry point and reiterates its Buy rating on the name. PRICE ACTION: In late morning trading, VMware fell $9.15, or 8.7%, to $96 on heavy trading volume. Despite today's pull back, the stock is up approximately 27% over the past twelve months. ANOTHER TO WATCH: EMC (EMC), which is the majority owner of VMware, reported earnings and revenue that were roughly in-line with expectations and raised its quarterly dividend. However, EMC lowered its 2014 EPS outlook to $1.90 from $1.95, which was below the consensus $1.94 forecast, and its shares were down 3% to $25.94 near noon.
07:12 EDTEMCEMC lowers 2014 EPS outlook to $1.90 from $1.95, consensus $1.94
Sees 2014 revenue $24.575B, consensus $24.51B. EMC expects to repurchase an aggregate of $2B of the company's common stock in 2014. The company said, "While planned business practice changes had a negative impact on year-over-year revenue and EPS growth in the quarter, we are very confident we are on the right track with our Federation model and technologies. With our strong foothold in Second Platform environments and some of the most exciting IT assets in the industry helping us propel customers to the Third Platform of IT, EMC is well positioned to meet our stated 2014 targets."
07:09 EDTEMCEMC raises quarterly dividend to 11.5c from 10c
EMC said its board approved a 15% increase in the quarterly cash dividend paid to shareholders. The first increased dividend of 11.5c per share of common stock will be paid on July 23, to shareholders of record as of the close of business on July 1.
07:09 EDTEMCEMC reports Q1 EPS 35c, consensus 35c
Reports Q1 revenue $5.48B, consensus $5.43B.
07:09 EDTEMCEMC reports Q1 EPS 35c, consensus 35c
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April 22, 2014
15:32 EDTEMCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Procter & Gamble (PG), consensus $1.02; Boeing (BA), consensus $1.56; Biogen Idec (BIIB), consensus $2.56; Dow Chemical (DOW), consensus 71c; EMC Corporation (EMC), consensus 35c; Thermo Fisher (TMO), consensus $1.40; Praxair (PX), consensus $1.51; General Dynamics (GD), consensus $1.64; Johnson Controls (JCI), consensus 65c; Norfolk Southern (NSC), consensus $1.15; Reynolds American (RAI), consensus 74c; Delta Air Lines (DAL), consensus 29c; Northrop Grumman (NOC), consensus $2.15; Air Products & Chemicals (APD), consensus $1.35; TD Ameritrade (AMTD), consensus 34c; Ingersoll-Rand (IR), consensus 26c; Dr Pepper Snapple (DPS), consensus 59c; Polaris Industries (PII), consensus $1.16; Ryder System (R), consensus 87c.
15:10 EDTEMCEarnings Preview: EMC shares up 6% since Q4 report
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April 21, 2014
13:41 EDTEMCEMC April weekly volatility elevated into Q1 and outlook
EMC April weekly call option implied volatility is at 38, May is at 22, June is at 21; compared to its 26-week average of 22 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 23.
April 16, 2014
10:00 EDTNTAPOn The Fly: Analyst Downgrade Summary
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07:07 EDTEMCAmazon, Google, Microsoft cut prices for cloud computing products, WSJ says
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05:27 EDTNTAPNetApp downgraded to Neutral from Buy at UBS
UBS downgraded NetApp to Neutral citing rising competition and a "mediocre" outlook for storage spending. The firm lowered its price target for shares to $40 from $50.
April 10, 2014
10:00 EDTEMCOn The Fly: Analyst Initiation Summary
Apple (AAPL) initiated with a Buy at Deutsche Bank... Crocs (CROX) initiated with a Buy at Buckingham... Deckers Outdoor (DECK) initiated with a Buy at Buckingham... EMC (EMC) initiated with a Buy at Deutsche Bank... HP (HPQ) initiated with a Buy at Deutsche Bank... IBM (IBM) initiated with a Hold at Deutsche Bank... NeoPhotonics (NPTN) coverage resumed with a Market Perform at Raymond James... NetApp (NTAP) initiated with a Hold at Deutsche Bank... Nutrisystem (NTRI) initiated with a Buy at B. Riley... Questar (STR) initiated with an Underperform at BofA/Merrill... S&T Bancorp (STBA) initiated with an Outperform at Raymond James... STB Systems Inc (STBI) initiated with an Outperform at Raymond James... Skechers (SKX) initiated with an Underperform at Buckingham... Steven Madden (SHOO) initiated with a Buy at Buckingham... UGI Corporation (UGI) initiated with a Buy at BofA/Merrill... Web.com (WWWW) initiated with a Neutral at Buckingham... Ally Financial (ALLY) initiated with a Buy at BTIG... Visteon (VC) initiated with a Buy at Citigroup... Greatbatch (GB) initiated with a Buy at KeyBanc... Steris (STE) initiated with a Buy at KeyBanc... Cooper Companies (COO) initiated with a Hold at KeyBanc... Hill-Rom (HRC) initiated with a Hold at KeyBanc... Invacare (IVC) initiated with a Hold at KeyBanc... Teleflex (TFX) initiated with a Hold at KeyBanc... Provident Financial (PROV) initiated with a Market Perform at Keefe Bruyette... UMH Properties (UMH) initiated with a Hold at Wunderlich.
08:44 EDTEMCCLSA technology analysts hold an analyst/industry conference call
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06:55 EDTNTAPNetApp initiated with a Hold at Deutsche Bank
Target $36.
06:52 EDTEMCEMC initiated with a Buy at Deutsche Bank
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