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Stock Market & Financial Investment News

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March 27, 2013
05:55 EDTNVDA, NVDA, NVDA, T, T, T, ADBE, ADBE, ADBE, FB, FB, FB, GOOG, GOOG, GOOG, ERTS, ERTS, ERTS, DIS, DIS, DIS, DWA, DWA, DWA, AMD, AMD, AMD, MSFT, MSFT, MSFT, ADSK, ADSK, ADSKUBM Tech to host a conference
Game Developers Conference 2013 is being held in San Francisco on March 25-29.
News For NVDA;MSFT;AMD;DWA;DIS;ERTS;GOOG;FB;ADBE;T;ADSK From The Last 14 Days
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July 22, 2015
15:02 EDTT, MSFT, FBOptions Update; July 22, 2015
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14:51 EDTAMDEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
13:06 EDTGOOG, MSFTCompetitors ask EU to probe Google ad technology market practices, FT says
Several of Google's (GOOG) rivals, including OpenX and AppNexus, which is part owned by WPP (WPPGY) and Microsoft (MSFT), have suggested that the European Union investigate the internet giant, claiming it may be unlawfully stifling competition in the market for advertising technology, the Financial Times reports. The companies' grievances relate to the way in which Google bundles its advertising technology products through contracts that may discourage or even prevent customers from using competitors' services, the report says. The companies in question have submitted documents to the EU expressing concern over the issue but have not submitted an official complaint, the report adds. Reference Link
12:32 EDTMSFTOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as slides in a number of big name tech stocks following their earnings reports dominated the news flow and largely dictated the market's direction. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: The tech sector has been weak, headlined of course by a 5% pullback in shares of Apple (AAPL) after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. Adding to the negative tone in tech stocks, and contributing further to the decline in the Nasdaq, was the 3% drop seen in Microsoft (MSFT) shares after its quarterly report as well as Yahoo's (YHOO) 1% decline after its revenue outlook missed the consensus forecast... Shares of Boeing (BA) and Coca-Cola (KO) fared better than Dow peer Apple after each reported better than expected sales and profits, though neither stock was moving far from where they closed yesterday's trading. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose 10% after the company agreed to be acquired by St. Jude Medical (STJ) for $3.4 billion in cash, or $63.50 per share. St. Jude shares advanced fractionally after the deal, which had been foreshadowed by media reports yesterday, was announced. Also higher following their earnings reports were Intuitive Surgical (ISRG), which gained 10%, Chipotle Mexican Grill (CMG), which advanced 8% and Whirlpool (WHR), which was up 6%. Among the noteworthy losers were a number of suppliers to Apple that declined in tandem with the tech giant after it reported a sequential drop in iPhone sales. Skyworks Solutions (SWKS), Cirrus Logic (CRUS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report. Also sharply lower was antibody-based therapeutics maker XOMA (XOMA), which plunged more than 73% and was downgraded to Neutral at Piper Jaffray after a Phase III trial of its gevokizumab drug in patients with Behcet's disease uveitis did not meet its primary endpoint. INDEXES: Near midday, the Dow was down 82.22, or 0.46%, to 17,837.07, the Nasdaq was down 42.68, or 0.82%, to 5,165.44, and the S&P 500 was down 6.93, or 0.33%, to 2,112.28.
12:27 EDTDISTime Warner's HBO lands sports commentator Bill Simmons
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12:21 EDTDISTime Warner's HBO announces multiyear deal with Bill Simmons
Bill Simmons left Disney's (DIS) ESPN earlier this year.
11:32 EDTTAT&T July weekly volatility elevated into Q2 and outlook
AT&T July weekly call option implied volatility is at 30, August is at 17, September is at 16; compared to its 52-week range of 12 to 44, suggesting large near term price movement into the expected release of Q2 results on July 23.
09:46 EDTFBFacebook Q2 revenues tracking slight above consensus, says ITG Research
ITG Research's data analysis indicates Facebook's Q2 North American revenue is tracking to $1.9B, up from a previous estimate of $1.86B, versus consensus of $1.84B due to increased spending per advertiser. Firm estimates total Q2 revenues are tracking to $4.05B versus consensus of $3.98B.
09:38 EDTMSFT, FBActive equity options trading on open:
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09:19 EDTMSFTBofA/Merrill says Microsoft battling license declines with Cloud and Hardware
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09:07 EDTMSFTOn The Fly: Pre-market Movers
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07:55 EDTMSFTMicrosoft shares should be bought on weakness, says RBC Capital
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07:45 EDTMSFTMicrosoft shares still have downside, says Citi
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07:12 EDTMSFTMicrosoft hurdles remain but still an attractive story, says UBS
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06:41 EDTGOOGLG denies rumors that Google will take 35% stake, Korea Herald reports
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06:15 EDTGOOGGoogle's updated Glass to be foldable, more weather-resistant, 9to5Google says
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06:08 EDTGOOGSony to create drone company to offer services for business customers, WSJ says
Sony (SNE) plans to create a drone company to offer services like inspecting aged infrastructure and surveying land that is difficult to access, The Wall Street Journal reports. The drone company, Aerosense, will be created in a joint venture with ZMP Inc, a Tokyo startup which specializes in autopilot technology. Amazon (AMZN) and Google (GOOG) are currently researching the use of drones for package delivery, the report notes. Reference Link
05:55 EDTMSFTQualcomm to cooperate with Microsoft, Allwinner in mobile market, DigiTimes says
Qualcomm (QCOM) is expected to ramp up its penetration in the entry-level mobile device market by cooperating with Microsoft (MSFT) to launch low-cost Windows Mobile 10 products, reports DigiTimes Research. Qualcomm is also expected to cooperate with Allwinner Technology to launch 3G/4G solutions for connected tablets. Reference Link
05:50 EDTMSFTMicrosoft price target lowered to $37 from $39 at Jefferies
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05:29 EDTGOOGStocks with implied volatility below IV index mean; WMB GOOG
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