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Stock Market & Financial Investment News

News Breaks
March 21, 2013
12:09 EDTORCL, DELL, BX, CSCO, HPQ, SVU, ACAD, SCHL, GESOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as Europe's woes continue, though purchasing managers' indexes for the U.S. and China were strong. Amidst the backdrop of ongoing negotiations in Cyprus and a wealth of economic data from around the globe, the major averages slumped at the open and have been range-bound ever since... ECONOMIC EVENTS: In the U.S., jobless claims rose 2K from the prior week to 336K, a bit below the forecast for an increase to 340K. The FHFA home price index for January rose 0.6% from the prior month, versus expectations for a 0.7% advance. The leading economic indicators rose 0.5% for February, versus expectations for an increase of 0.4%. Existing home sales rose 0.8% in February, versus expectations for a 1.6% monthly increase. The Philly Fed manufacturing survey reading for March came in at +2.0, versus expectations for a -3.0 reading. Markit's preliminary U.S. purchasing managers' index for March came in at 54.9, nearly matching the 54.8 consensus forecast. In China, HSBC's preliminary PMI reading for March was 51.7, which compares to a 50.4 final reading for February. In Europe, Markit's flash composite PMI for services and manufacturing fell to 46.5 in March from 47.9 in February. Also, the European Central Bank said it will cut Cypriot banks off from emergency funds after this Monday, March 25, unless a bailout agreement is struck with the EU and IMF... COMPANY NEWS: Oracle (ORCL) shares fell 8% and were downgraded at CLSA and Evercore following the company's disappointing earnings report. Oracle may also risk losing its president Mark Hurd, according to a report from Fortune. The publication said Blackstone (BX) is seriously considering a bid for Dell (DELL) and one of the PE firm's top choices to run Dell, assuming it chooses to bid, would be Oracle's Hurd... Cisco (CSCO) was by far the Dow's worst performer, sinking over 3% following Oracle's report and after FBR Capital downgraded Cisco to an Underperform rating in a note to investors earlier today... Hewlett-Packard (HPQ) raised its regular dividend by 10% after shareholders failed in an attempt to remove the company's two longest-serving directors at its annual meeting, held last night... MAJOR MOVERS: Among the notable gainers was SuperValu (SVU), which rose more than 6% after it completed the sale of several of its chains to a private equity firm consortium in a deal valued at $3.3B, including $100M in cash and $3.2B in debt assumption. Also higher were shares of ACADIA Pharmaceuticals (ACAD), up 29% after presenting detailed results from a Phase III study of its treatment for Parkinson's disease psychosis. Among the noteworthy losers following their earnings reports were Scholastic (SCHL), which fell 14%, and Guess (GES), which declined nearly 5%... INDICES: Near noon, the Dow was down 35.83, or 0.25%, to 14,475.90; the Nasdaq was down 20.01, or 0.61%, to 3,234.18; and the S&P 500 was down 4.80, or 0.31%, to 1,553.91.
News For ORCL;DELL;BX;CSCO;HPQ;SVU;ACAD;SCHL;GES From The Last 14 Days
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September 19, 2014
07:57 EDTORCLOracle shares still attractive, says Stifel
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07:39 EDTORCLOracle downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank downgraded Oracle to Hold following the company's Q1 results citing the deceleration of its core database business. The firm points out database license sales were again negative in the quarter. Deutsche lowered its price target for shares to $42 from $48. The stock is trading down 3% to $40.30 in pre-open trading.
07:26 EDTGESGuess upgraded to Neutral from Underperform at Buckingham
07:19 EDTHPQNew America Foundation to hold a discussion
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06:16 EDTORCLOracle downgraded to Hold from Buy at Deutsche Bank
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September 18, 2014
18:25 EDTORCLOn The Fly: After Hours Movers
HIGHER: Concur (CNQR), up 19.5% after SAP (SAP) announced that it will acquire the company for $129 per share... Navidea Biopharmaceuticals (NAVB), up 9.8% after confirming FDA orphan designation for Lymphoseek... Molycorp (MCP), up 6.1% after Oaktree Capital reported a 9.1% passive stake in the company... JetBlue (JBLU), up 4.6% following CEO transition announcement... Wendy's (WEN), up 2.15% after Trian reported a 24.39% stake in the company... Sears Holdings (SHLD), up 2.6% after Fairholme Capital reported a 24% stake in the company... AMD (AMD), up 1% after announcing that it expanded an IP partnership with Synopsys (SNPS). DOWN AFTER EARNINGS: Red Hat (RHT), down 3%... Oracle (ORCL), down 2.4% following first quarter earnings miss and CEO transition... Tibco Software (TIBX), down 5.5%. ALSO LOWER: Quest Resource (QRHC), down 13.4% after filing an automatic common stock and warrant shelf... Eagle Rock (EROC), down 4.5% after filing to sell 53.34M common units for limited partners... Chatham Lodging (CLDT), down 3.3% after filing to sell 5M shares of common stock... Glu Mobile (GLUU), down 2.3% after filing to sell 9.98M shares of common stock for holders... Blackstone Mortgage (BXMT), down 1.6% after filing to sell 8M shares of common stock.
17:23 EDTORCLOracle sees Q2 adjusted EPS 66c-70c, consensus 74c
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16:07 EDTORCLOracle says rolling out database cloud service next week
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16:06 EDTORCLOracle reports Q1 Software plus Cloud revenue up 6% to $6.6B
Oracle reports Q1 total Software plus Cloud revenue was up 6% to $6.6B. Software-as-a-service and Platform-as-a-service cloud revenue was up 32% to $337M. Infrastructure-as-a-service cloud revenue was up 26% to $138M. Hardware systems revenue was down 8% to $1.2B. Reports Q1 non-GAAP operating margin was 44%.
16:04 EDTORCLOracle adds $13B to buyback authorization
Oracle announced that its Board of Directors authorized the repurchase of up to an additional $13.0B of common stock under its existing share repurchase program in future quarters. Oracle's Board also declared a quarterly cash dividend of 12c per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on October 8, with a payment date of October 29.
16:03 EDTORCLOracle adds $13B to buyback authorization
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16:02 EDTORCLOracle drops 3.7% after earnings miss, Ellison steps down as CEO
16:02 EDTORCLOracle reports Q1 adjusted EPS 62c, consensus 64c
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16:01 EDTORCLOracle CEO Larry Ellison steps down from post, named executive chair, CTO
Oracle's Board of Directors announced that it has elected Larry Ellison to the position of Executive Chairman of Oracle's Board and appointed him the company's Chief Technology Officer. Jeff Henley, who has served as Oracle's Chairman for the last 10 years, was appointed Oracle's Vice Chairman of the Board. The Oracle Board also promoted both Safra Catz and Mark Hurd to the position of CEO, Oracle Corporation. All manufacturing, finance, and legal functions will continue to report to Oracle CEO, Safra Catz. All sales, service and vertical industry global business units will continue to report to Oracle CEO, Mark Hurd. All software and hardware engineering functions will continue to report to Oracle Chairman and CTO, Larry Ellison.
16:00 EDTORCLOracle CEO Larry Ellison steps down from post, named executive chair, CTO
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15:15 EDTORCLNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Oracle (ORCL), consensus 64c; Red Hat (RHT), consensus 38c; TIBCO Software (TIBX), consensus 18c.
14:58 EDTORCLOracle September 41.5 straddle priced for 3.4% move into Q1
14:54 EDTORCLOracle technical comments ahead of results
In the past three months the stock has underperformed, falling by over 3%. The trading in shares has been relatively volatile, but within a narrow range largely contained by $40 at the low and $42 at the high. If the news is stronger than expected, particularly where outlook is concerned, there could be a run to the 52-week high at $43.19. That high is very close to the life highs for the shares at $46.18. We could see a range open up between the 52-week high and the life high if news exceeds expectations. If the news fails to meet investor expectations, a test down to the $40 area would appear very likely. A break below $40 would see next support at $38.34 and then at $37.08. The stock can be volatile around earnings, but gaps tend to be relatively small unless estimates are broken in extreme fashion, in either direction.
12:58 EDTORCLEarnings Preview: Morgan Stanley views Oracle's Q1, Q2 estimates as 'achievable'
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10:57 EDTGESU.S. ITC to investigate 17 denim jean companies for patent infringement
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