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Stock Market & Financial Investment News

News Breaks
December 20, 2012
09:18 EDTNYX, DFS, BBBY, CAG, JBL, RAD, ORCL, ELOQ, VVUS, MDRX, ICE, FOLDOn The Fly: Pre-market Movers
HIGHER AFTER EARNINGS: Rite Aid (RAD), up 17.3%... Jabil Circuit (JBL), up 5.4%... ConAgra (CAG), up 3.1%... ALSO HIGHER: NYSE Euronext (NYX), up 40.2% after acquisition by IntercontinentalExchange (ICE) for $33.12 per share in case and stock... Eloqua (ELOQ), up 30% after agreeing to be bought by Oracle (ORCL) for $23.50... VIVUS (VVUS), up 7.9% after Express Scripts (ESRX) adds Qsymia to formulary, takeover speculation fueled by Daily Mail report... LOWER AFTER EARNINGS: Bed Bath & Beyond (BBBY), down 5.8%... Discover (DFS), down 2.2%... ALSO LOWER: Amicus Therapeutics (FOLD), down 43.5% after drug doesn't show statistical benefit in study... Allscripts (MDRX), down 15.9% after evaluation of strategic alternatives ends without sale, CEO steps down.
News For NYX;ICE;MDRX;VVUS;ELOQ;ORCL;RAD;JBL;CAG;BBBY;DFS;FOLD From The Last 14 Days
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October 23, 2014
12:12 EDTRADRite Aid management to meet with Guggenheim
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08:12 EDTMDRXAllscripts announces partnership with ScriptSave
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October 22, 2014
16:33 EDTDFSOn The Fly: Closing Wrap
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10:36 EDTORCLOracle downgraded to Neutral from Buy at Tigress Financial
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07:46 EDTJBLJabil Circuit management to meet with UBS
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07:40 EDTDFSDiscover beat Q3 despite conservatism in reserves, say Susquehanna
Susquehanna said Discover reported a solid Q3 despite investing to build reserves. The firm said loan and revenue growth were in-line and the company is continuing to buy shares and improve capital ratios. Susquehanna reiterates its Positive rating and $77 price target on Discover.
07:06 EDTBBBYBed Bath & Beyond management to meet with Deutsche Bank
Field trip to company headquarters to be held in Union, NJ on October 22 hosted by Deutsche Bank.
October 21, 2014
16:44 EDTDFSDiscover sees FY14 operating expenses approximately $3.3B
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16:43 EDTDFSDiscover sees Q4 net interest margin down slightly
16:42 EDTDFSDiscover reports Q3 Tier 1 capital ratio 15.6%
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16:28 EDTJBLJabil Circuit files automatic mixed securities shelf
16:10 EDTDFSDiscover reports Q3 Discover Card sales volume $29.61B vs. $27.99B last year
Discover reports net charge-off rate for credit card loans increased 11 basis points from the prior year to 2.16% and the delinquency rate for loans over 30 days past due increased 4 basis points to 1.71%.
16:08 EDTDFSDiscover reports Q3 total loans up $4.6B to $67.4B
Discover reports Direct Banking pretax income of $981M in the quarter was up $63M, or 7%, from the prior year. Total loans ended the quarter at $67.3B, up 7.4% compared to the prior year. Credit card loans ended the quarter at $53.7B, up 6.6% from the prior year. Personal loans increased $835M, or 20.9%, from the prior year and private student loans increased $369M, or 4.5%, from the prior year. Excluding purchased student loans, private student loans grew $884 million, or 23.1%, from the prior year. Revenue net of interest expense increased $129M, up 7% from the prior year due to loan growth and net interest margin expansion.
16:06 EDTDFSDiscover reports Q3 EPS $1.37, consensus $1.34
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15:30 EDTDFSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Yahoo! (YHOO), consensus 30c; ACE (ACE), consensus $2.34; Discover Financial (DFS), consensus $1.34; Pinnacle Financial (PNFP), consensus 51c; Broadcom (BRCM), consensus 84c; Intuitive Surgical (ISRG), consensus $3.80; FMC Technologies (FTI), consensus 74c; Robert Half International (RHI), consensus 58c; E-Trade (ETFC), consensus 22c; Nabors Industries (NBR), consensus 36c; Waste Connections (WCN), consensus 54c; Cubist Pharmaceuticals (CBST), consensus 4c; Sonic (SONC), consensus 34c; American Campus Communities (ACC), consensus 43c; Cree (CREE), consensus 36c; Fulton Financial (FULT), consensus 20c; Costamare (CMRE), consensus 41c; Hawaiian Holdings (HA), consensus 78c; Ethan Allen (ETH), consensus 36c; Sabra Health (SBRA), consensus 55c; Rush Enterprises (RUSHA), consensus 51c.
14:34 EDTORCLEarnings Preview: EMC reports after HPQ merger talks said to end
EMC Corporation (EMC) is expected to report third quarter earnings before the bell on Wednesday, October 22, with a conference call scheduled for 8:30 am ET. EMC provides software, hardware and IT services to business customers through its three federated businesses: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure, which is represented by EMC’s majority equity stake in VMware (VMW). VMware is expected to report on its own third quarter results after the bell on Tuesday, October 21, with a conference call scheduled for 5:00 pm ET. EXPECTATIONS: For EMC, analysts are looking for earnings per share of 46c on revenue of $6.0B. The consensus range is 44c-49c for EPS and $5.91B-$6.16B for revenue, according to First Call. Along with its last earnings report, EMC raised its FY14 adjusted EPS view to $1.91 from $1.90 and guided to FY14 revenues of $24.58B. Analysts consensus for FY14 EPS and revenue currently stand at $1.91 and $24.55B. For VMware, analysts are looking for earnings per share of 83c on revenue of $1.5B. The consensus range is 81c-85c for EPS and $1.48B-$1.52B for revenue, according to First Call. LAST QUARTER: EMC reported Q2 adjusted EPS of 43c, which matched the consensus expectation. EMC's revenue of $5.9B came in slightly ahead of the $5.83B consensus projection. EMC also accelerated its 2014 share buyback plan, stating that it now expects to repurchase an aggregate of $3B of the company's common stock in 2014. VMware reported Q2 EPS of 81c, versus consensus of 79c, on revenue $1.46B, versus consensus of $1.44B. NEWS: VMware held its "VMWorld 2014" conference from August 24-28, during which the company updated its 2015 guidance. VMware's guidance for revenue growth in the mid teens percentage level and margin expansion of up to one percentage point is positive, RBC Capital analyst Matthew Hedberg wrote in a note to investors on August 26. The same day Cowen analyst Gregg Moskowitz wrote that VMware's FY15 revenue guidance would "likely weigh modestly" on the stock, even though he was not surprised by the outlook. Less than two weeks ago, Elliott Management sent a letter to the board of directors of EMC Corporation detailing its recommendations on the right path forward for EMC, in which Elliott holds a stake. Elliott believes that EMC’s Federation structure obscures enormous value at the company and that the board and management should pursue pathways to recognize this value, including a separation of VMware from Core EMC and/or various M&A opportunities, Elliott wrote. In response, EMC said its directors regularly review and evaluate the company's strategy with a view towards enhancing shareholder value. "Over the past few months, EMC's leadership has met with representatives of Elliott several times and has listened carefully to their ideas, as we do with all of our shareholders," the company said. Last week, HP (HPQ) announced the resumption of its share repurchase program after Reuters reported the company's merger talks with EMC had ended. HP had suspended the buyback program due to "possession of material non-public information." The tech giant said that day that it is "no longer in possession of such information." During September, Re/code reported, citing sources familiar with Oracle's plans, that the company was not interested in acquiring EMC. Meanwhile, Cisco (CSCO) CEO John Chambers also said last month at a Wall Street Journal breakfast that his company is not among the potential merger partners for EMC. Chambers said a deal between the two companies would have been done a "year or two ago" were it to happen, according to Reuters. STREET RESEARCH: On the day after its last earnings report, Brean Capital raised its price target on EMC to $33 from $30, citing the company's aggressive capital return strategy, encouraging core Storage dynamics and potential pent up demand. Tigress Financial, however, downgraded EMC to Buy from Strong Buy, citing valuation. Additionally, VMware estimated that its total available market would reach more than $60B in 2017, versus its estimate last year of a $50B+ total addressable market by 2016, Moskowitz noted. PRICE ACTION: In afternoon trading, EMC shares are up 1% to $27.22, while VMware is fractionally higher at $87.79. Over the last three months, EMC shares have declined almost 4%, while VMware's stock is down about 5.5% in that same time frame.
08:03 EDTRADCVS offering drug plan with higher co-pay at stores selling tobacco, WSJ says
CVS Health (CVS), which stopped selling tobacco products last month, is now offering a prescription-drug plan via its pharmacy benefits unit Caremark that charges patients copayments that are up to $15 higher on prescriptions filled where tobacco is sold, which includes at rival pharmacies operated by Walgreen (WAG) and Rite-Aid (RAD), reported The Wall Street Journal. Reference Link
06:40 EDTORCLForrester: Adobe becomes marketing cloud leader, VentureBeat reports
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October 20, 2014
12:09 EDTORCLIBM hits 52 week low after earnings miss, 2015 profit target dropped
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07:10 EDTFOLDAmerican Society of Human Genetics to hold annual meeting
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