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May 29, 2014
UP AFTER EARNINGS: OmniVision (OVTI), up 17.9% after reporting better than expected fourth quarter results and first quarter guidance above expectations... Veeva Systems (VEEV), up 6.2%... Avago (AVGO), up 1.5% after reporting quarterly results... Nimble Storage (NMBL), up 3.76%... ALSO HIGHER: Retrophin (RTRX), up 29.27% following license agreement with Mission Pharmacal for Thiola and revised guidance... (CRM), up 1.75% after announcing global strategic partnership with Microsoft (MSFT). DOWN AFTER EARNINGS: Infoblox (BLOX), down 28.12% after guiding below analyst estimates for fourth quarter and announcing that CEO Robert Thomas is stepping down... Annies (BNNY), down 16.86%... Splunk (SPLK), down 9.15%... Express (EXPR), down 10.27% after reporting quarterly results and announcing that it will close 50 stores over the next 36 months... Lions Gate (LGF), down 5.99%. ALSO LOWER: Glu Mobile (GLUU), down 7.4%.
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October 5, 2015
19:50 EDTCRMSalesforce management to meet with JMP Securities
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17:29 EDTLGFLionsgate, Starz in advanced merger discussions, LA Times says
Mini-major studio Lionsgate (LGF) is in advanced talks to merge with movie channel Starz (STRZA), according to the Los Angeles Times, citing four people with knowledge of the matter. Reference Link
16:16 EDTAVGOOn The Fly: Top stock stories for Monday
The Dow began the day with a triple digit jump and continued to tack on gains from there, rising nearly 2% by the time the closing bell rang. The Nasdaq and S&P also posted significant gains in the market's broad based advance. The number of advancing stocks crushed the number of declining stocks while the up volume overwhelmed the down volume. The S&P 500 is now on a five day winning streak with earnings season set to unofficially begin on Thursday, when Alcoa (AA) releases its quarterly report after the close. ECONOMIC EVENTS: In the U.S., Markit's services PMI dropped to 55.1 in the final September print, compared to the preliminary reading of 55.6 and August's 56.1 figure. ISM's services index dropped 2.1 points to 56.9 in September, versus expectations for a more modest pullback to a reading of 57.5. COMPANY NEWS: General Electric (GE) was the best performer on the Dow, advancing $1.35, or 5.3%, to $26.82 after activist investor Nelson Peltz disclosed that his firm, Trian Fund Management, has accumulated a $2.5B stake, making it one of the company's top ten shareholders. Trian, which believes GE is "executing a bold transformation" from a broad conglomerate into an industrial company, predicted that GE stock may be worth $40-$45 per share by 2017... Shares of Twitter (TWTR) rose $1.85, or 7.03%, to $28.16 after the company appointed co-founder and interim Chief Executive Jack Dorsey as permanent CEO. Analysts welcomed the news, saying Dorsey was simply "too good to pass up" despite his concurrent role as head of payments company Square. Axiom analyst Victor Anthony upgraded the stock to Buy from Hold, though the rating change was made prior to this morning's CEO news, which had been previewed last week by Re/code, was confirmed by the company... The U.S., Japan and ten other countries came to terms on the Trans-Pacific Partnership, a trade agreement meant to open agricultural markets, tighten intellectual property rules and establish a group that will have the clout to challenge China's influence in the region. Reacting to the deal, Honeywell (HON) said trade agreements like the TPP have the potential to boost exports, support jobs, and increase access abroad, while Boeing (BA) pointed out that more than 70% of its commercial airplane revenue last year came from customers outside the U.S. MAJOR MOVERS: Among the notable gainers was Spark Therapeutics (ONCE), which surged $9.09, or 20.69%, to $53.02 after the Phase 3 trial of the company's lead gene therapy product met its primary endpoint. Also higher was SunEdison (SUNE), which gained 77c, or 9.31%, to $9.04 after announcing plans to optimize its business operations by refocusing on its core markets and simplifying its structure, among other initiatives. Among the noteworthy losers were a number of Apple (AAPL) chip suppliers, with Cirrus Logic (CRUS), Skyworks (SWKS) and Avago (AVGO) falling a respective 4.5%, 1.7%, and 2.6% after Citi analysts lowered fourth quarter iPhone sales estimates. Also lower was Valeant (VRX), which lost $18.86, or 10.34%, to $163.46 after its alleged "price hike" business strategy was highlighted in reports by the New York Times and Barron's. Additionally, AtriCure (ATRC) declined 8.8% to $20.47 after releasing preliminary third quarter results and agreeing to acquire cardiac device maker nContact. INDEXES: The Dow gained 304.06, or 1.85%, to 16,776.43, the Nasdaq advanced 73.49, or 1.56%, to 4,781.26, and the S&P 500 rose 35.69, or 1.83%, to 1,987.05.
15:28 EDTAVGOCiti lowers iPhone unit sales estimates for Q4
Shares of Apple (AAPL) are underperforming a strong broader market rally after Citi lowered its fourth quarter iPhone unit sales estimates in a note to investors earlier. WHAT'S NEW: Not all of Apple's first weekend sales of iPhone 6S and 6S will be included in the company's Q4 earnings, Citi analyst Jim Suva wrote. Suva, who has a Buy rating and $145 target price on Apple shares, said that although first weekend sales of 13M units of iPhone 6S and 6S Plus exceeded sell side targets, Apple noted that not all of these units unit sales will be included in Apple's Q4 earnings given cut off of the reporting quarter. Only sales through Friday and Saturday of the weekend launch will be included in Q4. The remainder of the units sold on Sunday will be reported in December financial results, said Suva. As a result, Citi reduced its iPhone unit estimates to 47M from its prior view of 48M. This is below the Q4 consensus of 48M. The remaining units will be shifted to the December quarter. Citi expects many sell-side analysts to follow suit and lower their September quarter iPhone estimates in the weeks ahead before Apple reports on October 27. According to the Citi note, Apple share volatility will continue and the firm sees limited earnings and sales upside potential in the near-term causing some investors to exit the stock. The investment thesis for Apple is likely to shift from an iPhone "beat and raise" investment story to a gross margin upside story heading into a difficult comp year for iPhone 6S unit sales, Suva tells investors. He thinks any pullback will prove an attractive opportunity for long-term investors. WHAT'S NOTABLE: Late last week, an article from the DigiTimes said Apple may be adjusting its chip orders lower for Q4. Sources said that a substantial integrated circuit supplier is saying that Apple has "slightly lowered its demand for supplies for the new iPhones for December," the report said. The sources said that overall shipments of the iPhone 6s series are expected to reach 75M-80M units in Q3 and 65M-70M units in Q4.PRICE ACTION: In late afternoon trading, shares of Apple are underperforming broader market measures and are up 0.4% compared to a 1.75% gain for the S&P 500. OTHERS TO WATCH: Shares of Apple chip suppliers are also relatively weak, with Cirrus Logic (CRUS) down almost 4%, Skyworks Solutions (SWKS) sliding 2.5%, Qorvo (QRVO) trading near flat, Avago (AVGO) lower by 1.4%, and NXP Semiconductors (NXPI) down 0.25%.
08:02 EDTLGFLionsgate and Skydance Media form global television distribution agreement
Lionsgate announced that the two companies have formed a global television distribution pact. The launch of newly-created label Skydance International, which will feature Skydance Media's current and emerging premium television properties around the world following their initial U.S. broadcast, augments Lionsgate's worldwide distribution pipeline and permits the two companies to tap opportunities across the global television marketplace.
October 4, 2015
17:39 EDTLGF'The Martian' soars in box office debut
Science fiction film "The Martian" rocketed to the top of the box office amid widespread critical acclaim. WEEKEND LEADER: Fox's (FOX, FOXA) "The Martian" grossed $55M in its domestic open for the weekend of October 4, beating expectations for $40M-$50M and nearly setting a record for October debuts. Director Ridley Scott's return to science fiction after 1979's "Alien" and the more recent "Prometheus" was applauded by critics and audiences alike, with "Martian" garnering a 94% approval rating on review aggregator Rotten Tomatoes. BOX OFFICE RUNNERS-UP: Sony's (SNE) "Hotel Transylvania 2" stepped down to second place with $33M after last weekend's strong open, while Lionsgate's (LGF) drug cartel thriller "Sicario" earned $12.1M after expanding nationwide, outpacing expectations for $8M-$10M. Rounding out this weekend's Top 5, Time Warner (TWX) subsidiary Warner Bros.' "The Intern" and Fox's "Maze Runner: The Scorch Trials" took in a respective $11.6M and $7.7M.
October 2, 2015
12:43 EDTLGFFly Watch: 'The Martian' expected to win weekend box office
Fox's (FOX, FOXA) "The Martian," based on the best selling science fiction novel by Andy Weir and starring Matt Damon, is expected to win this weekend's box office with an opening of between $40M-$50M. Sony's (SNE) animated sequel "'Hotel Transylvania 2," which set a record last weekend for a September opening with a $48.5M debut, is estimated to gross in the range of $29M-$31.5M in its second week. Lions Gate's (LGF) drug cartel drama "Sicario," which opened two weeks ago in six theaters and expanded to 59 theaters last week, is expected to take in $8M-$10M in its first weekend expanding nationwide, now playing in about 2,500 theaters. Time Warner (TWX) subsidiary Warner Bros.' comedy "The Intern," starring Robert DeNiro and Anne Hathaway, is estimated to bring in $8.5M-$8.9M in its second weekend. Fox's "Maze Runner: The Scorch Trials" is expected to earn an estimated $7.8M in its third weekend of release. Also new in theaters is Sony subsidiary TriStar's "The Walk," starring Joseph Gordon-Levitt, which opened Wednesday exclusively on 448 IMAX (IMAX) and large-format screens, and is expected to earn $3M through the weekend.
08:01 EDTGLUUGlu Mobile Q3 bookings upside tempered by new games, says Canaccord
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October 1, 2015
17:22 EDTLGFLionsgate wins rights to 'The Kingkiller Chronicle', Hollywood Reporter says
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12:44 EDTAVGOApple chip suppliers fall after report iPhone maker may lower chip orders
Shares of chip makers for Apple's (AAPL) iPhone are sliding after a DigiTimes article said the iPhone maker may curtail its chip orders for the fourth quarter. WHAT'S NEW: According to the DigiTimes report, Apple may be adjusting its chip orders lower for Q4. Sources said that a substantial integrated circuit supplier is saying that Apple has "slightly lowered lowered its demand for supplies for the new iPhones for December," the report said. The sources said that overall shipments of the iPhone 6s series are expected to reach 75M-80M units in the third quarter and 65M-70M units in Q4. WHAT'S NOTABLE: On September 28, Apple announced it has sold more than 13M new iPhone 6s and iPhone 6s Plus models just three days after launch, a new record for the company. According to an iFixit report from September 25, a teardown of the new iPhone 6S Plus revealed components supplied by Qualcomm (QCOM), Skyworks (SWKS), Qorvo (QRVO), Avago (AVGO), NXP Semiconductors (NXPI), Cirrus Logic (CRUS) and Texas Instruments (TXN), among others. Other chip makers that have been mentioned as possible Apple suppliers in the past include Analog Devices (ADI), Maxim Integrated Products. (MXIM) and ON Semiconductor (ON). PRICE ACTION: In midday trading shares of the aforementioned chip makers are all lower with Qorvo, Avago, NXP and Analog Devices down approximately 4% to 5%. Apple is down about 1.4%.
12:36 EDTVEEVVeeva management to meet with William Blair
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10:45 EDTCRMSalesforce calls active on renewed takeover chatter
Salesforce October weekly 70, 70.5, 71 and 71.5 calls are active on total call volume of 9,900 contracts (720 puts) on renewed takeover chatter. October call option implied volatility is at 43, October is at 37; compared to its 52-week range of 26 to 60. Active call volume suggests traders taking positions for upside price movement.
10:26 EDTCRMRumor: Salesforce moves up on renewed takeover chatter
10:11 EDTNMBLHigh option volume stocks
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05:56 EDTCRMSalesforce implied volatility of 35 at lower end of index mean range
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September 30, 2015
09:07 EDTLGFLionsgate signs deal with Buena Vista International for distribution in Russia
Lionsgate has forged an output deal with international theatrical distributors Buena Vista International for distribution of Lionsgate titles in Russia and the rest of the Commonwealth of Independent States. The agreement will kick off with Lionsgate's revenge thriller Sicario this fall.
07:11 EDTRTRXLeerink to hold a roundtable
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05:52 EDTCRMSalesforce implied volatility of 36 at lower end of index mean range
September 29, 2015
09:19 EDTAVGODeutsche Bank to hold a conference
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07:29 EDTVEEVVeeva acquires Zinc Ahead for approximately $130M in cash
Veeva Systems announced it has acquired Zinc Ahead, a provider of commercial content management solutions. Veeva and Zinc Ahead are joining forces to address the growing need for end-to-end compliance management that reduces regulatory risk and boosts operational efficiency as companies face increasing volumes of content, a proliferation of digital channels, and increased regulatory scrutiny. Veeva's acquisition of Zinc Ahead was signed and closed simultaneously on September 29, 2015. Veeva's indirect subsidiary, Veeva U.K. Holdings Limited acquired all of the share capital of Mineral Newco Ltd., a company organized under the laws of the United Kingdom that is the ultimate parent company of all Zinc operating entities, pursuant to the terms of a Share Purchase Agreement entered into on September 29, 2015, among Veeva U.K. Holdings Limited and the shareholders of Mineral Newco Ltd. The aggregate purchase price for the acquisition was approximately $130 million in cash, which includes amounts to pay off outstanding indebtedness and expenses at closing, and $10 million of deferred consideration payable over three years to non-institutional shareholders and option holders.
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