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Stock Market & Financial Investment News

News For VVUS;ICE;JBL;CAG;ORCL;RAD;ELOQ;FOLD;MDRX;BBBY;DFS;NYX From The Last 14 Days
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October 21, 2014
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 EMCís 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 EMCís 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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October 19, 2014
19:46 EDTFOLDAmicus announces additional positive data from from Fabry monotherapy study
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October 14, 2014
13:46 EDTCAGConAgra reaffirms guidance, sees Q2 EPS in-line with year ago
ConAgra Foods said it expects to affirm its previously announced FY15 guidance of diluted earnings per share to show a mid-single digit rate of growth over comparable FY14 when meeting with investors today. It adds the remaining EPS growth in FY15 is expected to occur in the second half of the fiscal year. Comparable EPS for Q2 is expected to be in line with year-ago amounts given the "strong comparable EPS performance" in the second quarter of last year. The company reaffirms its operating cash flow, debt reduction, and dividend guidance.
11:25 EDTCAGCargill to distribute certain ConAgra foods in Brazil
Cargill and ConAgra Foods are pleased to announce a partnership to bring the Huntís line of condiments and ACT II microwave popcorn to Brazil. In the past three years the condiments market has grown 4.5% a year; the main product in this category is tomato ketchup, which accounts for about 93% of this market. In Brazil, the microwave popcorn market has considerable growth potential as a result of strong sales of microwave ovens to the countryís new middle class in recent decades.
October 13, 2014
10:08 EDTRADOn The Fly: Analyst Initiation Summary
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07:47 EDTRADRite Aid initiated with a Market Perform at Cowen
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07:42 EDTICENYSE gets SEC approval for proposed rule changes
The New York Stock Exchange, on October 9, got final SEC approval for a rule change to amend its Rule 13 to allow an Add Liquidity Only modifier for day limit orders and to allow the day time-in-force condition and ALO modifier for Intermarket Sweep Orders. Analysts say the change allows the exchange to potentially gain ground on rivals that have long had the same deal, according to the New York Post, which quoted Haim Bodek as saying, ďThis is basically a blessing for exchanges to continue volume growth by accommodating HFT strategies and introducing asymmetry in the marketplace." Reference Link
October 10, 2014
17:07 EDTMDRXBlue Harbor reports 7.0% stake in Allscripts
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October 9, 2014
16:49 EDTORCLOracle hires former director of engineering from Google, Re/code reports
Oracle (ORCL) hired Peter Magnusson, former director of engineering at Google (GOOG) and VP of engineering at Snapchat, two weeks ago in a move to improve its cloud computing business, Re/code reports, citing sources familiar with the move. Reference Link
09:41 EDTBBBYBofA/Merrill retail analysts hold an analyst/industry conference call
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October 8, 2014
15:03 EDTFOLDUCLA researchers report positive results in mouse model of Parkinsonís
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14:17 EDTDFSDiscover reports 2.2% net principal charge-off rate in September
Discover Financial earlier reported credit card charge-off and delinquency statistics for September in a regulatory filing. For September, Discover reported ending loans of $53.7B, average loans of $53.5B, a net principal charge-off rate of 2.2% and a delinquency rate over 30 days of 1.7%.
October 7, 2014
10:57 EDTBBBYBed Bath and Beyond calls active on renewed activist investor speculation
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10:43 EDTBBBYRumor: Bed Bath & Beyond moves up on renewed activist investor speculation
10:02 EDTICEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air France-KLM (AFLYY) upgraded to Overweight from Underweight at JPMorgan... Alcobra (ADHD) upgraded to Outperform at FBR Capital... Alon USA Partners (ALDW) upgraded to Buy from Neutral at Citigroup... Becton Dickinson (BDX) upgraded to Buy from Hold at Stifel... CNOOC (CEO) upgraded at Bernstein... CTC Media (CTCM) upgraded to Buy from Hold at Deutsche Bank... CVR Refining (CVRR) upgraded to Buy from Neutral at Citigroup... CalAmp (CAMP) upgraded to Outperform from Neutral at Macquarie... China Unicom (CHU) upgraded to Overweight from Equal Weight at Barclays... Crown Holdings (CCK) upgraded at Macquarie... Dick's Sporting (DKS) upgraded to Buy from Neutral at Goldman... Fortuna Silver Mines (FSM) upgraded to Outperformer from Sector Performer at CIBC... Franco-Nevada (FNV) upgraded to Buy from Hold at TD Securities... Horsehead Holding (ZINC) upgraded to Outperform from Market Perform at FBR Capital... Ingersoll-Rand (IR) upgraded to Buy from Neutral at Goldman... IntercontinentalExchange (ICE) upgraded to Buy from Neutral at Citigroup... International Paper (IP) upgraded at BofA/Merrill... Leidos (LDOS) upgraded to Neutral from Underperform at Credit Suisse... Lennox (LII) upgraded to Positive from Neutral at Susquehanna... MGM Resorts (MGM) upgraded to Buy from Hold at Deutsche Bank... Natus Medical (BABY) upgraded to Outperform at William Blair... Noodles & Company (NDLS) upgraded to Buy from Hold at Jefferies... Phillips 66 (PSX) upgraded to Buy from Neutral at Citigroup... RockTenn (RKT) upgraded to Buy from Neutral at BofA/Merrill... Smith & Nephew (SNN) upgraded to Hold from Sell at Societe Generale... Sotheby's (BID) upgraded to Buy from Hold at Craig-Hallum... Sun Life Financial (SLF) upgraded to Overweight from Equal Weight at Barclays... WellCare (WCG) upgraded at Sterne Agee... Yamana Gold (AUY) upgraded to Neutral from Underweight at HSBC.
06:11 EDTICEIntercontinentalExchange upgraded to Buy from Neutral at Citigroup
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