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News For ORCL;DELL;BX;CSCO;HPQ;SVU;ACAD;SCHL;GES From The Last 14 Days Check below for free stories on ORCL;DELL;BX;CSCO;HPQ;SVU;ACAD;SCHL;GES the last two weeks. |
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| May 22, 2013 | | 19:40 EDT |  | BX | Blackstone, ProLogis pay $960M for warehouse portfolio, Reuters reports
Blackstone (BX) and ProLogis (PLD) have agreed to pay $960M for a portfolio of warehouse and distribution centers majority owned by Lehman Brothers, reports Reuters, citing two sources familiar with the deal. Reference Link | | | 18:52 EDT |  | HPQ | On The Fly: After Hours Movers
UP AFTER EARNINGS: Hewlett-Packard (HPQ), up 13.4% after reporting second quarter earnings that beat expectations and guiding third quarter and full-year earnings above estimates... Pacific Sunwear (PSUN), up 14.3%. ALSO HIGHER: Merck (MRK), up 0.2% after an FDA advisory panel voted 13-3 in support of the safety of initial doses of its insomnia drug suvorexant. DOWN AFTER EARNINGS: DryShips (DRYS), down 4.7%. ALSO LOWER: Apricus Biosciences (APRI), down 11.5% after filing to sell an ungiven amount of stock... NCI Building Systems (NCS) after being replaced by Cynosure (CYNO) in the S&P 600 as of May 31. | | | 17:52 EDT | | HPQ | Hewlett-Packard's Whitman says 'encouraged with where we are' with turnaround
 Subscribe for More Information | | | 16:12 EDT | | HPQ | Hewlett-Packard reports Q2 cash flow from operations $3.6B
Subscribe for More Information | | | 16:09 EDT |  | HPQ | Hewlett-Packard reports Q2 personal systems revenue down 20% YoY
Subscribe for More Information | | | 16:06 EDT | | HPQ | Hewlett-Packard sees FY13 adjusted EPS $3.50-$3.60, consensus $3.49
Subscribe for More Information | | | 16:05 EDT | | HPQ | Hewlett-Packard sees Q3 adjusted EPS 84c-87c, consensus 84c
Subscribe for More Information | | | 16:04 EDT | | HPQ | Hewlett-Packard reports Q2 adjusted EPS 87c, consensus 81c
Subscribe for More Information | | | 15:28 EDT | | HPQ | Notable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Hewlett-Packard (HPQ), consensus 81c; Limited Brands (LTD), consensus 46c; Workday (WDAY), consensus (18c); PetSmart (PETM), consensus 96c; Synopsys (SNPS), consensus 63c; HEICO (HEI), consensus 40c. | | | 13:37 EDT |  | HPQ | Hewlett-Packard May 21 weekly straddle priced for 7.4% move into Q2
Subscribe for More Information | | | | 09:39 EDT | | HPQ | Active equity option families trading
Subscribe for More Information | | | 07:24 EDT |  | HPQ, DELL, CSCO | NetEvents International to host a summit
Subscribe for More Information | | | 07:22 EDT | | ORCL | Fusion-io may be in play after valuation decline, Bloomberg reports
Subscribe for More Information | | | 07:21 EDT | | GES | MIT Sloan Alumni Club of Boston to hold a symposium
Subscribe for More Information | | | 07:10 EDT | | BX | Pactera establishes special committee to evaluate going private proposal
Subscribe for More Information | | | 06:00 EDT | | HPQ | Hewlett-Packard implied volatility at upper end of index mean range
Subscribe for More Information | | | May 21, 2013 | | 14:13 EDT | | HPQ | Earnings Preview: Hewlett-Packard shares up more than 20% since Q1 report
Hewlett-Packard (HPQ) is set to report Q2 earnings after the market close on Wednesday, May 22, with a conference call scheduled for 5:00 pm ET. Hewlett-Packard is an IT company that provides hardware, software, and business and enterprise solutions. EXPECTATIONS: Analysts are looking for EPS of 81c on revenue of $28.12B, according to First Call. The consensus range for EPS is 77c-83c on revenue of $27.01B-$29B. LAST QUARTER: HP reported Q1 EPS of 82c against estimates for 71c on revenue of $28.4B against estimates for $27.79B. HP said it sees Q2 EPS 80c-82c against then estimates for 77c. HP also reiterated its FY13 EPS view of $3.40-$3.60. In its Q1 earnings release, the company said personal systems revenue fell 8%, while consumer revenue fell 13%. On its Q1 earnings conference call, CEO Meg Whitman said the company's restructuring and turnaround plan was on track, but said the turnaround would not be linear. Whitman also said the company expects its personal systems revenue to decline at a faster rate than it did in Q1. On April 4, the company announced its chairman, Raymond Lane, would be stepping down, while also announcing that its independent director role would be eliminated. On April 10, IDC said worldwide PC shipments totaled 76.3M units in Q1, down 13.9% year-over-year, the largest decline since IDC began tracking global PC sales in 1994. On April 24, in an appearance on CNBC, noted short-seller Jim Chanos said he has been adding to his short position in HP. STREET RESEARCH: Analyst commentary since HP's Q1 report has been mixed, with the stock receiving an upgrade to Neutral from Sell at UBS the day after its Q1 report. On March 18, HP was upgraded to Overweight from Equal Weight at Morgan Stanley with a $27 price target, with the firm saying potential upside to free cash flow guidance could lead to aggressive buybacks and dividends. On April 2, Goldman downgraded the stock to Sell from Neutral with a $16 price target, saying incremental weakness in PC's, enterprise hardware, services, and printing will offset restructuring efforts. Citi also reiterated its Sell rating on HP following IDC's release of Q1 global PC shipments that showed a 13.9% decline. Last week, Cleveland Research said its estimates for HP remain below the Street, with the firm recommending investors remain on the sidelines. PRICE ACTION: Since the first day of trading following its Q1 report, shares of HP have gained more than 23.5%. Following HP's Q1 report, its shares jumped 12.28%, to $19.20, and shares closed as high as $23.84 in late March. In afternoon trading ahead of its Q2 report, shares of HP are unchanged at $21.18. | | | 12:00 EDT | | HPQ | Stocks with call strike movement; HPQ CLF
Subscribe for More Information | | | 07:12 EDT | | BX | Buyout firms eye Rockwood Holdings pigments businesses, Reuters reports
Subscribe for More Information | | | 06:10 EDT | | BX | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: JPMorgan Chase (JPM) plans to shake-up of its board even if every director wins re-election at today’s shareholder meeting and James Dimon keeps his dual job as chairman and CEO, the Wall Street Journal reports...Mutual-fund firms are joining activist investors in getting more aggressive over demands for change in how board members are paid at U.S. companies. Activist investors have been experimenting more frequently with incentive pay packages for the board members they nominate in proxy fights, the Wall Street Journal reports...REUTERS: Specialty chemicals producer Rockwood Holdings’s (ROC) pigments businesses have attracted offers from buyout firms including Blackstone Group (BX) and Advent International, sources say, Reuters reports...The Asian prime brokerage unit of Credit Suisse (CS) replaced Morgan Stanley (MS) as the second largest firm servicing the region's $148B hedge funds industry, according to a survey by AsiaHedge. Goldman Sachs (GS) remains Asia's top prime broker with 179 clients and total assets under management of $24.6B, Reuters reports...BLOOMBERG: Bank managers in the U.S. are less likely to engage in mergers and acquisitions this year as regulators heighten scrutiny on potential deals and sellers wait for higher valuations, according to a KPMG survey, Bloomberg reports...PIMCO’s Bill Gross says the bull market for bonds may have ended last month. But investors are staying put. Four years into the biggest rally in U.S. stocks since 2000, bond mutual funds are attracting more money than their equity counterparts, Bloomberg reports. | | | | May 20, 2013 | | 16:55 EDT | | DELL | S&P lowers Dell ratings to 'BBB' from 'A-', remains on watch negative
Standard & Poor's Ratings Services lowered its corporate credit and senior unsecured debt ratings on Dell to 'BBB' from 'A-', and its commercial paper rating to 'A-2' from 'A-1'. All ratings remain on CreditWatch, where they were placed with negative implications on Feb. 5. The initial CreditWatch listing reflected S&P's assessment that the $24.4B going private transaction, which includes a substantial portion of debt financing, will materially degrade Dell's financial risk profile, which S&P currently view as modest. Although Carl Icahn submitted a non-binding alternative acquisition proposal, the Michael Dell and Silver Lake Partners LBO proposal remains the only transaction that has been approved by Dell's board of directors. S&P's review of the LBO transaction terms and the company's ownership, business and financial strategy may also result in a downward revision of its assessment of Dell's business risk profile. | | | 13:06 EDT |  | BX | On The Fly: Midday Wrap
Stocks on Wall Street were modestly higher at midday as the Dow and S&P seek to continue their march higher after closing last week at record levels. ECONOMIC EVENTS: In the U.S., the light domestic economic calendar included the Chicago Fed National Activity index, which slipped to -0.53 for April from its prior reading of -0.23. In Asia, the Hang Seng and Shanghai Composite both climbed after Chinese home prices were reported to have risen in April. COMPANY NEWS: Yahoo (YHOO) confirmed it is buying social media platform Tumblr for $1.1B, as widely reported over the weekend, and promised "not to screw it up" in its press release to announce the deal... Actavis (ACT) agreed to acquire Warner Chilcott (WCRX) in a stock-for-stock transaction valued at approximately $8.5B. The deal, which was approved by the boards of both companies, equates to a value of $20.08 per Warner Chilcott share based on Actavis' closing share price on Friday, the companies said. MAJOR MOVERS: Among the notable gainers were some other companies with M&A news: Acquity Group (AQ) shares more than doubled after Accenture (ACN) agreed to buy the company for $13.00 per American Depositary Share, and Pactera Technology (PACT) gained 31% after receiving a non-binding proposal from a Blackstone (BX) affiliate to be taken private for $7.50 per ADS. Among the noteworthy losers was XenoPort (XNPT), which fell 11% after one of its drugs failed in a Phase III trial for multiple sclerosis spasticity. Also lower were shares of Red Hat (RHT), which slid 4% following a downgrade to Market Perform at BMO Capital. INDICES: Near 1 pm ET, the Dow was up 13.67, or 0.09%, to 15,368.07; the Nasdaq was up 1.13, or 0.03%, to 3,500.10; and the S&P 500 was up 2.18, or 0.13%, to 1,669.65. | | | 13:01 EDT |  | CSCO | Cisco hits session lows, levels to watch
The shares are down nearly 2%, last at $23.76. At that price, next support is at $23.32. Resistance is at $24.34. | | | 12:52 EDT | | BX | Blackstone biggest outside investor in SAC Capital, CNBC reports
Blackstone (BX) is the biggest outside investor in SAC Capital, with over $400M placed at the hedge fund, CNBC's Kate Kelly reports. Blackstone expects to pull some money from SAC, added Kelly. | | | 11:14 EDT | | DELL | Dell to deliver public cloud through partner ecosystem
Subscribe for More Information | | | 09:40 EDT | | CSCO | Active equity option families trading
Subscribe for More Information | | | 09:26 EDT | | BX | On The Fly: Pre-market Movers
Subscribe for More Information | | | 08:38 EDT | | BX | First Potomac sells industrial portfolio for $259M
Subscribe for More Information | | | 07:42 EDT | | CSCO | Cohasset Associates to host a conference
National Conference on Managing Electronic Records is being held in Chicago on May 20-22. | | | 07:03 EDT | | DELL | Dell committee says cannot evaluate Icahn proposal without more information
Subscribe for More Information | | | | May 19, 2013 | | 18:59 EDT | | CSCO | Cisco looks the best out of tech comeback stocks, Barron's says
Cisco (CSCO), Intel (INTC), and Microsoft (MSFT) stocks have jumped this month, however, Intel and Microsoft's revenue growth declined, due to their reliance on the PC market, providing Cisco with an opportunity to pull ahead in the technology sector, Barron's contends in its Technology Trader column. Cisco looks moderately priced, the paper adds. Reference Link | | | May 17, 2013 | | 16:00 EDT | | CSCO | Options Update; May 17, 2013
Subscribe for More Information | | | 14:03 EDT | | DELL, CSCO | Market set to finish week with gains after Cisco results, comments
Subscribe for More Information | | | 11:59 EDT | | CSCO | Options with decreasing implied volatility: ILMN LO A HES INFY CSCO
| | | 09:37 EDT | | HPQ | Active equity option families trading on open
Subscribe for More Information | | | 08:29 EDT | | DELL | JPMorgan's business and information services analyst holds a conference call
Subscribe for More Information | | | 08:02 EDT |  | DELL | Dell results could increase votes for Silver Lake offer, says Wells Fargo
Subscribe for More Information | | | 07:35 EDT |  | CSCO | Aruba Networks downgraded to Hold from Buy at Stifel
Subscribe for More Information | | | 07:00 EDT | | HPQ | Hewlett-Packard volatility elevated into Q2 and revenue outlook
Subscribe for More Information | | | 06:35 EDT | | CSCO | Stocks with implied volatility below IV index mean; CSCO MBI
Stocks with implied volatility below IV index mean; Cisco (CSCO), MBIA (MBI) according to IVolatility. | | | | May 16, 2013 | | 18:01 EDT | | DELL | Dell continues to expect 'relatively weak' demand in end-user PC business
Subscribe for More Information | | | 16:29 EDT | | CSCO | On The Fly: Closing Wrap
Stocks on Wall Street were lower following some disappointing economic data and a hint from a regional Fed president that the central bank may taper its easing program in the coming months. The averages traded in a narrow range for much of the session before moving lower in the final hour of trading. Comments by San Francisco Fed president John Williams late in the afternoon, suggesting that the central bank may begin slowing its bond buying pace by the summer, may have spurred the late session selling. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 32K to 360K last week, compared to expectations for them to remain relatively stable at 330K. The consumer price index dropped a larger than forecast 0.4% in April, though the "core" CPI rate rose 0.1%, as expected. Housing starts were down 16.5% in April from the prior month, versus an expected decrease of 6.4%, though building permits jumped 14.3% from the prior month, beating an expected increase of 3.8%. The Philadelphia Fed General Business Conditions Index for May came in at -5.2, versus expectations for a +2.2 reading. COMPANY NEWS: Earnings reports from two Dow members, Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. Cisco shares added $2.66, or 12.54%, to $23.87 to lead the blue chip index after the company's results beat expectations on the top and bottom lines. Wal-Mart fell $1.36, or 1.7%, to $78.50 after its first quarter earnings sand second quarter outlook missed the consensus forecast... Tesla Motors (TSLA) last night announced a stock and debt offering of more than $800M, with CEO Elon Musk announcing his intent to buy $100M of the offering, and shares of the electric car maker added $7.36, or 8.67%, to $92.20. MAJOR MOVERS: Among notable gainers was Aegerion (AEGR), up $14.73, or 31.37%, to $61.70 after the company said its Juxtapid treatment may have a $1B global market opportunity and at least two analyst firms raised their price targets on its shares. Also higher was Constellation Brands (STZ), up $1.52, or 3.03%, to $51.76 after the stock was upgraded at Stifel and ISI Group. Among noteworthy losers following analyst downgrades were AMD (AMD), which fell 55c, or 12.56%, to $3.83 after Goldman downgraded the stock to Sell, and CSC (CSC), which slid $2.12, or 4.74%, to $42.59 after being cut to Hold at Deutsche Bank. Also lower following its quarterly report was NetQin Mobile (NQ), down 72c, or 7.5%, to $8.88. INDICES: The Dow was down 42.47, or 0.28%, to 15,233.22; the Nasdaq was down 6.38, or 0.18%, to 3,465.24; and the S&P 500 was down 8.31, or 0.50%, to 1,650.47. | | | 16:05 EDT | | DELL | Dell reports Q1 enterprise solutions, services, software revenue up 12% to $5.5B
Subscribe for More Information | | | 16:02 EDT | | DELL | Dell not providing guidance for Q2
Subscribe for More Information | | | 16:01 EDT | | DELL | Dell reports Q1 adjusted EPS 21c, consensus 35c
Reports Q1 revenue $14.1B, consensus $13.52B. | | | 15:14 EDT | | DELL | Notable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Dell (DELL), consensus 35c; Applied Materials (AMAT), consensus 13c; Nordstrom (JWN), consensus 76c; Autodesk (ADSK), consensus 45c; J. C. Penney (JCP), consensus (86c); SINA (SINA), consensus (3c); ViaSat (VSAT), consensus 2c; Brocade Communications (BRCD), consensus 15c; Aruba Networks (ARUN), consensus 15c. | | | 14:01 EDT | | CSCO | Options Update; May 16, 2013
Subscribe for More Information | | | 13:58 EDT | | DELL | Earnings Preview: Dell facing uncertainty about going private ahead of Q1 report
Dell (DELL) is set to report Q1 earnings after the market close on Thursday, May 16, with a conference call scheduled for 4:45 pm ET. Dell is a global IT company that operates enterprise, business, and consumer segments. EXPECTATIONS: Analysts are looking for EPS of 35c on revenue of $13.52B, according to First Call. The consensus range for EPS is 28c-42c on revenue of $12.6B-$14.22B. A report by Dow Jones earlier this week said Dell will report non-GAAP EPS of 20c on revenue of about $14B. LAST QUARTER: Dell reported Q4 adjusted EPS of 40c against consensus for 39c on revenue of $14.3B against estimates for $14.12B. On its Q4 earnings conference call, the company said it expects continued margin pressure and market competitiveness in 2013. GO-PRIVATE NEWS: On February 5, Dell officially announced that it had agreed to be taken private for $13.65 per share by a consortium lead by Silver Lake. On March 25, Dell announced it had received two alternative proposals during its go-shop process, which began following its February 5 announcement. These proposals included a $14.25 per share offer from Blackstone (BX), and a $15 per share offer from Carl Icahn and affiliated funds, including Icahn Enterprises (IEP). On April 19, Dell announced that Blackstone decided not to submit a bid for the company. Last Friday, Icahn and Southeastern Asset Management, which collectively hold about a 13% stake in Dell, submitted an alternative proposal to Dell's board. The Icahn and Southeastern proposal would allow Dell shareholders to receive a $12 per share cash distribution or $12 of additional shares valued at $1.65 per share. On Monday, the special committee of Dell's board asked Icahn and Southeastern for more information related to proposal, while Icahn and Southeastern proposed a slate of directors to the company's board that same day. COMPANY NEWS: In addition to news surrounding the company's go-private proposal, data regarding global PC demand has also weighed on Dell. On April 10, data from IDC said worldwide PC shipments totaled 76.3M in Q1, a 13.9% decline from the prior year period, which was worse than the expected decline of 7.7%. IDC also added that this year-over-year decline was the worst since the firm began its quarterly tracking of the PC market in 1994. On March 28, data released by Gartner said worldwide IT spending is projected to increase 4.1% in 2013 to $3.8T. PRICE ACTION: Shares of Dell have slid more than 2.5% since the first day of trading following its Q4 report. Following the March announcement that Dell received alternative proposals from Blackstone and Icahn, shares closed as high as $14.51 per share. Through April, however, shares of Dell slipped, including a sharp decline after disclosing Blackstone withdrew its offer, with shares closing as low as $13.09 per share. In afternoon trading ahead of its Q1 report, shares of Dell are down 0.2%, to about $13.42. | | | 13:57 EDT | | DELL | Dell May 13 straddle priced for 1.7% move into Q1
Subscribe for More Information | | | 12:24 EDT | | CSCO | On The Fly: Midday Wrap
The S&P 500 was virtually unchanged at midday following a deluge of domestic economic data this morning. The S&P began the session in negative territory, but only moderately lower, after investors received a host of data prior to the open, including reports on jobless claims, consumer prices, and housing starts. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 32K to 360K last week, compared to expectations for them to remain relatively stable at 330K. The consumer price index dropped a larger than forecast 0.4% in April, though the "core" CPI rate rose 0.1%, as expected. Housing starts were down 16.5% in April from the prior month, versus an expected decrease of 6.4%, though building permits jumped 14.3% from the prior month, beating an expected increase of 3.8%. The Philadelphia Fed General Business Conditions Index for May came in at -5.2, versus expectations for a +2.2 reading. COMPANY NEWS: Earnings reports from two Dow members, Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. Cisco shares advanced 12% to lead the blue chip index after the company's results beat expectations on the top and bottom lines and prompted price target increases at several analyst firms. Wal-Mart, in contrast, lagged all Dow names, sliding 2% after its earnings for the just ended quarter and its view of the current quarter missed the consensus forecast... After the closing bell, Tesla Motors (TSLA) said it intends to raise about $830M by offering 2.7M common shares and $450M in convertible senior notes. CEO Elon Musk will buy $100M worth of the stock and debt, the company said, and its recently high-flying shares rose another 6%. MAJOR MOVERS: Among the notable gainers rising following Cisco's better than expected results and commentary were Ciena (CIEN), which rose 8%, and Cavium (CAVM), which advanced 4%. Also higher were shares of NetApp (NTAP), which gained over 6% after Bloomberg said activist investor Elliott Management has taken a stake in the company and is pushing its board to explore ways to boost shareholder value. Among the noteworthy losers were Oncothyreon (ONTY), which fell 20%, and Biomarin (BMRN), down 5%, after both pharmaceutical companies, among a number of others, published data to be presented at ASCO, an annual meeting of oncologists. Also lower was AMD (AMD), which declined 14% following a downgrade to Sell at Goldman Sachs. INDICES: Near noon, the Dow was up 12.47, or 0.08%, to 15,288.16; the Nasdaq was up 8.74, or 0.25%, to 3,480.36; and the S&P 500 was nearly flat at 1,658.80. | | | | 10:44 EDT | | CSCO | Cisco results give boost to semiconductor names
Subscribe for More Information | | | 09:48 EDT | | CSCO | Cisco gaps up and spikes higher in early trading following results
Subscribe for More Information | | | 09:36 EDT | | CSCO | Active equity option families trading on open
Subscribe for More Information | | | 09:19 EDT | | CSCO | On The Fly: Pre-market Movers
Subscribe for More Information | | | 09:04 EDT | | CSCO | Cisco results positive for semiconductors space, says Brean Capital
Subscribe for More Information | | | 09:00 EDT | | CSCO | Cisco rises 12.9%
Cisco is up 12.9%, or $2.73, to $23.94 | | | 08:18 EDT | | CSCO | Cisco price target raised to $28 from $25 at Goldman
Subscribe for More Information | | | 08:14 EDT | | CSCO | Cisco price target raised to $27 from $25 at FBN Securities
Subscribe for More Information | | | 08:14 EDT | | CSCO | BofA/Merrill's tech analysts hold an analyst/industry conference call
Subscribe for More Information | | | 08:13 EDT | | CSCO | Cisco shares should rise further, says Sterne Agee
Sterne Agee believes that Cisco outlined a more upbeat outlook after the company reported Q3 results that the firm views as strong and provided in-line Q4 EPS guidance. The firm keeps a Buy rating on the stock. | | | | 07:15 EDT | | CSCO | Cisco execution, environment improving, says RBC Capital
After Cisco reported stronger than expected Q3 results, RBC Capital believes that the company's business has rebounded. The firm thinks the company's Q4 guidance was better than feared, and it keeps an Outperform rating on the stock. | | | 07:11 EDT | | BX | Some asset managers want investors to buy their shares, Reuters reports
Subscribe for More Information | | | 07:07 EDT | | CSCO | Cisco results positive for communications semi space, says William Blair
Subscribe for More Information | | | 06:23 EDT | | CSCO | Cisco price target raised to $26 from $24 at Wunderlich
Wunderlich raised its price target for Cisco following the company's better than expected Q3 results and continues to recommend the stock with a Buy rating. | | | 06:08 EDT | | BX | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | May 15, 2013 | | 19:34 EDT | | CSCO | On The Fly: After Hours Movers
Subscribe for More Information | | | 17:15 EDT | | CSCO | Cisco up $1.82, or 8.58%, to $23.03 as Q3 conference call continues
Subscribe for More Information | | | 16:58 EDT | | CSCO | Cisco sees Q4 non-GAAP gross margins to be approximately 61%-62%
| | | 16:55 EDT | | CSCO | Cisco continues to see company specific challenges in China
Subscribe for More Information | | | 16:54 EDT | | CSCO | Cisco sees Q4 EPS 50c-52c, consensus 51c
Sees Q4 revenue growth 4%-7% YoY, consensus $12.5B. Guidance taken from company's Q3 earnings conference call. | | | | 16:51 EDT | | CSCO | Cisco says Q3 public sector business grew 5%
Subscribe for More Information | | | 16:48 EDT | | DELL | Icahn gives quarterly update on stakes
Subscribe for More Information | | | 16:46 EDT | | CSCO | Cisco sees SP CapEx spending continuing to be challenged
This information is from the company's Q3 earnings conference call. | | | 16:42 EDT | | CSCO | Cisco reports Q3 total non-GAAP gross margin 63% vs.63.1%
Subscribe for More Information | | | 16:41 EDT | | CSCO | Cisco Q3 services revenue grew 7%
Subscribe for More Information | | | 16:09 EDT | | BX | DDR Corp. acquires select prime power centers from its Blackstone JV for $1.46B
DDR Corp. (DDR) announced an agreement to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII (BX). The acquisition, which is expected to close in Q4 subject to customary closing conditions, will significantly increase DDR's cash flow generated by very high quality, large format prime power centers located in top MSA's in the United States. The joint venture between Blackstone and DDR currently owns 44 shopping centers, and DDR has executed a purchase and sale agreement to acquire Blackstone's 95% common equity ownership interest in 30 of these shopping centers for $1.46B. DDR intends to fund this acquisition through a combination of the assumption of $398M in existing debt, nearly $150M from the repayment of preferred equity and mezzanine loans previously funded by DDR and proceeds from the issuance of common equity and unsecured debt. As part of the consideration, DDR has the right, subject to certain conditions, to issue common shares to Blackstone in an amount not to exceed $250M. | | | 16:09 EDT | | CSCO | Cisco Q3 cash flows from operations $3.1B vs. $3B a year ago
Subscribe for More Information | | | 16:09 EDT | | CSCO | Cisco trades higher after results, first look
Subscribe for More Information | | | 16:07 EDT | | BX | DDR Corp. acquires select prime power centers from its Blackstone JV for $1.46B
Subscribe for More Information | | | 16:06 EDT | | CSCO | Cisco reports Q3 EPS 51c, consensus 49c
Subscribe for More Information | | | | 15:11 EDT | | CSCO | Notable companies reporting after market close
Subscribe for More Information | | | 12:47 EDT | | CSCO | Earnings Preview: Cisco shares moving in narrow range ahead of Q3 report
Cisco (CSCO) is set to report Q3 earnings after the market closes on Wednesday, May 15, with a conference call scheduled for 4:30 pm ET. Cisco manufactures and sells IP-based networking products and services. EXPECTATIONS: Analysts are looking for EPS of 49c on revenue of $12.18B, according to First Call. The consensus range for EPS is 47c-51c on revenue of $12.05B-$12.29B. On its Q2 earnings conference call, the company said it sees Q3 adjusted EPS 48c-50c on revenue growth of 4%-6% year-over-year. The company also said it sees Q3 adjusted gross margin approximately 61%-62%, and non-GAAP operating margin of 26.5%-27.5%. LAST QUARTER: Cisco reported Q2 EPS of 51c against estimates for 48c on revenue of $12.1B against estimates for $12.06B. In mid-March, Cisco was found not to have infringed patents held by VirnetX (VHC), and on March 22, Bloomberg reported that Cisco was ordered to pay $70M in fraud damages to XpertUniverse. On March 28, the company announced a 3c increase in its dividend to 17c per share. On April 3, Cisco announced its intent to acquire Ubiquisy, a provider of 3G and LTE small-cell technologies, for $310M, and the transaction is expected to close in Q4. STREET RESEARCH: Street research has been mixed on Cisco, with shares of the company losing more than 3% on March 21 following a downgrade to Underperform from Market Perform at FBR Capital. With its March 21 downgrade, FBR cut its price target on shares of Cisco to $17 from $22, saying the company would be challenged to offset declining routing and switching demand. Earlier this week, however, FBR reversed its March call, upgrading Cisco to Market Perform from Underperform and bumping its price target to $19. Earlier this week, Piper Jaffray said it expects Cisco to report Q3 EPS in-line with estimates, though the firm lowered its revenue estimates for the company. In its note, Piper said macro headwinds will offset favorable data center and switching demand, leaving Cisco with a mixed Q3 report, though the firm reiterated its Overweight rating and $25 price target on shares. Coverage on Cisco shares was also initiated by at least two firms during the quarter, with Cowen initiating coverage with an Outperform rating earlier this month and Northland Securities initiating coverage on Cisco with an Outperform rating and a $25.50 price target the day after Cisco's Q2 report. PRICE ACTION: Shares of Cisco have traded in a narrow range between $20-$22 per share since its Q2 report, gaining a scant 0.4%. Shares of Cisco, which are up about 8% year-to-date, are near flat in afternoon trading ahead of its Q3 report. | | | 11:48 EDT | | ORCL | Appaloosa reports new stakes in Comcast, Ashland, sells Oracle
David Tepper's Appaloosa in its quarterly filing report new positions in Comcast (CMCSA), Prudential (PRU), Hess Corp. (HES), Check Point (CHKP), KBR (KBR) and Ashland (ASH). The fund sold its stakes in Oracle (ORCL) and Noble Corp. (NE). Appaloosa's top position is in Citigroup (C), with a stake worth over $376.9M. | | | 11:28 EDT | | ORCL | David Tepper's Appaloosa liquidates stake in Oracle
Subscribe for More Information | | | 09:39 EDT | | HPQ | Hewlett-Packard estimates remain below Street at Cleveland Research
Subscribe for More Information | | | 08:33 EDT | | CSCO | Cisco May volatility elevated into Q3 and outlook
Subscribe for More Information | | | 08:08 EDT | | HPQ, DELL | PC sales decline in Western Europe, Economic Times reports
Subscribe for More Information | | | 08:01 EDT |  | ACAD | ACADIA 8M share Spot Secondary priced at $12.50
Subscribe for More Information | | | 07:11 EDT | | BX | Some buyout firms move beyond buyouts, WSJ reports
Subscribe for More Information | | | 06:08 EDT | | BX | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | | May 14, 2013 | | 16:23 EDT | | DELL | On The Fly: Closing Wrap
Stocks on Wall Street were higher on a Tuesday again, keeping the strange "Tuesday in 2013" streak alive. Some positive domestic economic data and bullish commentary from Appaloosa Management's David Tepper set the tone early and the averages traded with an upward bias for almost the entire trading day. Today's advance means that every Tuesday this year has seen the market log gains, and investors will have to wait another week to see if the pattern continues. ECONOMIC EVENTS: The NFIB small business optimism index for April rose to 92.1, versus expectations for it to climb to 90.3 from its prior 89.5 reading. Import prices were reported to have declined 0.5% in April, which was in-line with expectations. Export prices declined 0.7%, versus a forecast for a 0.1% drop in the month. COMPANY NEWS: Dell (DELL) shares lost 6c, or 0.44%, to $13.46 after Dow Jones said the company will report first quarter non-GAAP earnings of 20c per share, 15c below current consensus estimates. That followed an earlier report from CNBC's David Faber, who also said the company will report earnings that miss expectations and accurately called that Dell has moved its report to Thursday, which is earlier than had been expected... Sony (SNE) shares added $1.87, or 9.9%, but closed off their best levels at $20.76 after the New York Times reported that Dan Loeb of Third Point has built a 6.5% stake and proposes that the company take its entertainment unit public. MAJOR MOVERS: Among notable gainers was InterOil (IOC), up $7.46, or 9.57%, to $85.39 after reporting its earnings and saying its talks with "major oil companies and a national oil company" about a potential LNG partnership are in the final stages. Also higher was SodaStream (SODA), up $6.79, or 11.85%, to $64.08 after at least two analyst firms raised their price target on shares following yesterday's analyst day presentations. Among noteworthy losers was Solar City (SCTY), down $4.44, or 12.37%, to $31.44 after the company's first quarter earnings missed expectations and the stock was downgraded by at least two firms. Also lower was Velti (VELT), down 29c, or 14.5%, to $1.71 after its revenue outlook fell below estimates. INDICES: The Dow was up 123.57, or 0.82%, to 15,215.25; the Nasdaq was up 23.82, or 0.69%, to 3,462.61; and the S&P 500 was up 16.57, or 1.01%, to 1,650.34. | | | 16:01 EDT | | ACAD | ACADIA files to sell common stock, no amount given
Subscribe for More Information | | | 13:18 EDT | | DELL | Dell to report Q1 non-GAAP EPS 20c, Dow Jones says
Subscribe for More Information | | | 12:47 EDT | | SVU | Options with increasing implied volatility: FMCN FIO SVU BKS
Subscribe for More Information | | | 12:35 EDT | | DELL | Dell holder Pzena prefers Icahn, Southeastern proposal, CNBC reports
Cites statement from Rich Pzena, who called the Icahn and Southeastern proposal "superior" to the "go-private" deal supported by founder Michael Dell. | | | 11:18 EDT | | DELL | Dell earnings to miss consensus expectations, CNBC reports
Subscribe for More Information | | | 11:17 EDT | | DELL | Dell May volatility increases into Q1 and revenue outlook
Dell May call option implied volatility is at 33, June and July is at 14; compared to its 14-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on May 16. | | | 11:13 EDT | | DELL | Dell moving up earnings announcement to Thursday, CNBC reports
Subscribe for More Information | | | 11:12 EDT | | DELL | Dell earnings expected to be below consensus, CNBC reports
| | | 10:49 EDT | | DELL | Dell accuses optical disk drive makers of price-fixing, Bloomberg says
Subscribe for More Information | | | | 08:19 EDT | | DELL | David Tepper says Dell in tough business, no position in company
| | | 08:06 EDT | | GES | BofA/Merrill's retail analysts hold an analyst/industry conference call
Global Retail Team discusses key global athletic themes including industry trends, sourcing costs outlook and favorite investment ideas on an Analyst/Industry conference call. Relevant covered companies COLM, COST, DKS, FINL, FL, GES, JNY, NKE, PVH, RL, TGT, UA and WMT may be included on the Analyst/Industry conference call to be held on May 14 at 10 am. | | | 05:44 EDT | | BX, DELL | Banks work deals from both sides of the field, WSJ reports
Subscribe for More Information | | | May 13, 2013 | | 16:49 EDT | | DELL | Icahn, Southeastern to nominate several parties to Dell board
Subscribe for More Information | | | 16:27 EDT | | HPQ | Hewlett-Packard hasn't tried to sell Autonomy to SAP, AllThingsD reports
Subscribe for More Information | | | 16:25 EDT | | DELL | On The Fly: Closing Wrap
Stocks on Wall Street were little changed from their opening levels as investors weighed the potential end of the Fed's quantitative easing program against a better than expected report on retail sales. The Wall Street Journal's Jon Hilsenrath suggested in a report over the weekend that the Federal Reserve has mapped a QE exit strategy. The report paired with the retail sales data left the market lacking conviction in either direction today, as the averages spent the majority of the session range-bound near the flatline. ECONOMIC EVENTS: In the U.S., retail sales rose 0.1% in April, which beat expectations for a 0.3% decline. Retail sales excluding autos, gas, and building materials rose 0.6%, which was also better than expected. Business inventories were flat in March, versus expectations for a 0.3% gain. In Asia, Chinese factory output grew 9.3% annually in April, which was up from 8.9% in March but still missed expectations for a 9.5% growth rate. COMPANY NEWS: The Supreme Court ruled unanimously that Monsanto's (MON) patented genetically altered soybeans are protected and that farmers cannot use them to create new seeds without paying the company... Dell's (DELL) special committee publicly asked for more information from Carl Icahn and Southeastern Asset Management about their proposed leveraged recapitalization. This request follows television interviews by Icahn last Friday in which he discussed his Dell proposal, as well as a weekend report in Barron's saying the Icahn and Southeastern plan could be a better deal for shareholders. MAJOR MOVERS: Among the notable gainers was Theravance (THRX), up $6.26, or 17.92%, to $41.20 after Elan Corporation (ELN) bought a stake in the potential future royalty payments from four respiratory programs partnered with GlaxoSmithKline (GSK) in exchange for $1B in cash. Also higher was Tesla (TSLA), which rose $11.04, or 14.38%, to $87.80 in its third straight double-digit percentage gain following a better-than-expected earnings report last week. Among the noteworthy losers was Barnes & Noble (BKS), down $2.21, or 9.48%, to $21.10 after the blog InsiderMonkey disputed a previous report about Microsoft's (MSFT) interest in the bookseller's NOOK assets. Also lower was JoS. A. Bank (JOSB), down $3.31, or 7.16%, to $42.90 after the company's first quarter earnings view came in below expectations. INDICES: The Dow was down 26.81, or 0.18%, to 15,091.68; the Nasdaq was up 2.21, or 0.06%, to 3,438.79; and the S&P 500 was nearly unchanged at 1,633.77. | | | 15:45 EDT | | HPQ | Options Update; May 13, 2013
Subscribe for More Information | | | 12:20 EDT | | DELL | On The Fly: Midday Wrap
Subscribe for More Information | | | 10:41 EDT | | HPQ | SAP says HP offered to sell Autonomy, London Times reports
Subscribe for More Information | | | 10:09 EDT |  | CSCO | On The Fly: Analyst Upgrade Summary
Subscribe for More Information | | | | 07:34 EDT | | CSCO | Cisco upgraded to Market Perform from Underperform at FBR Capital
Subscribe for More Information | | | 07:31 EDT | | CSCO, ORCL | Brightcover to host a conference
3rd Annual Brightcove PLAY Global Customer Conference is being held in Boston on May 13-15. | | | 07:22 EDT | | DELL | Dell special committee asks for more info from Icahn, Southeastern Asset
Subscribe for More Information | | | 07:17 EDT | | DELL | Dell special committee asks for more info from Icahn, Southeastern Asset
| | | 07:09 EDT | | CSCO | Cisco finds difficulties as it diversifies, WSJ reports
Subscribe for More Information | | | 07:04 EDT | | CSCO | Cisco May volatility elevated at 59 into Q3 and outlook
Cisco May call option implied volatility is at 59, June is at 28, July is at 25; compared to its 26-week average of 26 according to Track Data, suggesting larger near term price movement into the expected release of Q3 results after the market close on May 15. | | | 07:02 EDT | | CSCO | Cisco Q3 results likely to be mixed, says Piper Jaffray
Piper Jaffray expects Cisco to report in-line Q3 earnings and margins on May 15, but lowered its revenue estimate for the quarter as it believes demand in April was challenging. However, the firm sees limited share downside from current levels and reiterates an Overweight rating on the stock with a $25 price target. | | | 06:05 EDT | | CSCO | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: U.S. companies are on track to raise the most money through IPOs since before the financial crisis, driven by the same thirst for risk among investors that has pushed the stock market to new highs. Already this year, 64 U.S.-listed public offerings have raised $16.8B, according to Dealogic, the Wall Street Journal reports...Cisco Systems (CSCO) shares fell this time last year after executives warned their biggest corporate customers were ordering less equipment. If history repeats itself this week, the networking giant will join a dreary but growing club (IBM, JNPR), the Wall Street Journal reports...REUTERS: Japan's Nikkei share average surged to a new 5-1/2-year high today as the weakening yen further bolstered exporters, while brokerage shares attracted buyers who see growing volume bringing in much more fee income, Reuters reports...China's factory output growth was surprisingly muted in April, darkening the outlook for the Chinese economic recovery and feeding expectations that the government may take policy action to support activity. Annual industrial output grew 9.3%, up from 8.9% in March but still missing market expectations for a 9.5%, Reuters reports...BLOOMBERG: Wall Street’s major bond dealers are beginning to forecast that the Treasury Department will lower the size of its debt auctions in coming months for the first time in three years as government revenue soars, Bloomberg reports...The largest overseas bet on Indian consumers is spurring speculation that companies from Nestle (NSRGY) to Colgate-Palmolive (CL) will pursue more deals in a nation where household income is forecast to triple this decade, Bloomberg reports. | | | May 12, 2013 | | 18:35 EDT | | DELL | Carl Icahn's newest offer could be better deal for Dell holders, Barron's says
Subscribe for More Information | | | May 10, 2013 | | 16:29 EDT | | DELL | On The Fly: Closing Wrap
Subscribe for More Information | | | | 14:52 EDT | | ORCL, HPQ | Market poised to end week higher as tech helps lead advance
Subscribe for More Information | | | 13:07 EDT | | DELL | Dell committee says 'carefully reviewing' Icahn, Southeastern proposal
Dell's Special Committee issued a statement regarding a proposal it has received from Carl Icahn and Southeastern Asset Management. The statement read: "Mr. Icahn and Southeastern have outlined a potential leveraged recapitalization transaction that they want the Dell Board either to recommend at this time or to consider if the existing going-private transaction is rejected by Dell shareholders. They have also proposed replacing the Board with a slate of new directors who they say would approve such a transaction. Consistent with the Special Committee’s goal of achieving the best possible outcome for all shareholders, we and our advisors are carefully reviewing the potential transaction to assess the potential risks and rewards to the public shareholders." | | | 13:05 EDT | | DELL | Dell committee says 'carefully reviewing' Icahn transaction
Subscribe for More Information | | | 12:51 EDT | | DELL | Carl Icahn: 'I've made fortunes going against Jim Chanos'
Subscribe for More Information | | | 12:47 EDT | | DELL | Icahn says if board is elected, Michael Dell won't run Dell
Subscribe for More Information | | | 12:46 EDT | | DELL | Icahn says would personally put up over $2B for Dell bridge loan if needed
Carl Icahn is speaking on CNBC. | | | 12:42 EDT | | DELL | Icahn says 'not looking to make a dollar' on Dell shares
Carl Icahn is speaking on CNBC. | | | 12:39 EDT | | DELL | Icahn says proposing full slate of 12 Dell board members on Monday
Carl Icahn is speaking on CNBC. | | | 12:37 EDT | | DELL | Icahn says Dell needs change in culture
Carl Icahn is speaking on CNBC. | | | 12:31 EDT | | DELL | On The Fly: Midday Wrap
Subscribe for More Information | | | | 09:03 EDT | | ORCL | BroadSoft could be acquired by Oracle, says Pacific Crest
Pacific Crest believes that Oracle's (ORCL) interest in SMX servers could lead that company to buy Broadsoft (BSFT), which integrates IMS applications with SMX technology, according to the firm. Pacific Crest thinks that BroadSoft could be worth up to $42.50 per share in a takeover deal, and it keeps an Outperform rating on the shares. | | | 08:50 EDT | | CSCO | Cisco EPS could reach $3 in medium term, says Pacific Crest
Pacific Crest believes that Cisco has multiple drivers that could enable its EPS to reach $3 in the medium term. The firm thinks the stock's valuation appears overly bearish and it keeps an Outperform rating on the shares. | | | 07:49 EDT | | BX | Blackstone targets corporations rich balance sheets, Bloomberg reports
Subscribe for More Information | | | 06:15 EDT | | DELL | Icahn reports 4.52% stake in Dell, sends buyout proposal to board
Carl Icahn disclosed a 4.52% stake in Dell as well a letter sent to the company's board offering an alternative buyout proposal. The letter stated in part, "We are a group of Dell Inc. shareholders that own in the aggregate approximately 13% of the outstanding shares of Dell Inc. From the announcement of the Agreement and Plan of Merger, dated as of February 5, 2013 we have stated repeatedly that we believe that the Going Private Transaction is not in the best interests of Dell shareholders and substantially undervalues the company. As a result, we will vote against the Going Private Transaction." The group's proposal gives shareholders the right to continue as owners and keep their existing equity position in Dell. The shareholders would also be given the opportunity to elect to receive a distribution of $12 per share in cash or $12 in additional shares valued at $1.65 per share. Icahn and Southeastern said they would both elect to receive additional shares rather than cash. Both investors said financing for their proposal would be obtained from Dell's existing cash and $5.2B in new debt. Icahn and Southeastern believe their proposal is superior to Dell's going private transaction. | | | 06:08 EDT | | DELL | Carl Icahn discloses 4.52% stake in Dell, proposal letter to board
Subscribe for More Information | | | 06:03 EDT | | DELL | Icahn, Southeastern propose alternative buyout for Dell, WSJ reports
Subscribe for More Information | | | May 9, 2013 | | 10:08 EDT | | GES | On The Fly: Analyst Downgrade Summary
Subscribe for More Information | | | 07:34 EDT | | BX | Simon Graduate School of Business to hold a conference
2013 Simon NYC Conference is being held in New York on May 9. | | | 07:00 EDT | | GES | Guess downgraded to Neutral from Outperform at Wedbush
Wedbush downgraded Guess following checks that indicate a lackluster turnaround, increased promotional activity, and earnings risk. Price target remains $27. | | | 05:54 EDT | | DELL | Stocks with implied volatility movement; DELL BAX
Subscribe for More Information | | | | 05:45 EDT | | SVU | Stocks with implied volatility movement; FIO SVU
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