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Stock Market & Financial Investment News

News Breaks
April 25, 2014
12:41 EDTP, MSFT, LPNT, CYTK, AMZN, PBH, F, DVOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, with the tech-heavy Nasdaq being weighed down by shares of Amazon (AMZN), which slid following the e-commerce giant's quarterly report. The market opened lower and picked up downside momentum to extend the slide to triple digit losses for the Dow and a more than 1% loss for the Nasdaq. The weakness comes in spite of a report that showed consumer confidence surged in April to approach the highest level since the recession began in 2007. ECONOMIC EVENTS: In the U.S., Markit's flash services PMI dipped 1.1 points to 54.2 in April, missing expectations for a rise to 55.5. The final University of Michigan consumer confidence reading for April rose to 84.1, beating expectations for a reading of 83.0. In Europe, S&P cut Russia's sovereign rating to BBB-. COMPANY NEWS: Shares of online retailer Amazon.com fell 9% after the company’s second quarter outlook failed to impress. After the company reported roughly in-line Q1 results and forecast Q2 revenue of $18.1B-$19.8B, compared to consensus of $19.03B, Citigroup, Wells Fargo, and Deutsche Bank all lowered their respective price targets on the stock. Another firm, Raymond James, downgraded Amazon to Outperform from Strong Buy, citing mixed Q1 results, a continued significant investment cycle, and slowing unit growth and media sales. The firm lowered its price target on the shares to $391 from $443... Microsoft (MSFT) shares were up nearly 1% after reporting earnings that beat expectations on revenues that were roughly in-line with estimates in the first quarter with new CEO Satya Nadella at the helm. MAJOR MOVERS: Among the notable gainers was Prestige Brands (PBH), which rose 17% after the company agreed to acquire Insight Pharmaceuticals for $750M. Also higher following their earnings reports were for-profit education company DeVry (DV), which gained 14%, and hospital operator LifePoint Hospitals (LPNT), which advanced 5%. Among the noteworthy losers was drugmaker Cytokinetics (CYTK), which plunged more than 60% after a trial of tirasemtiv in ALS did not achieve its primary efficacy endpoint. Also lower following their earnings reports were Internet radio provider Pandora (P), which fell over 15%, and carmaker Ford (F), which slid 3%. INDEXES: Near midday, the Dow was down 119.19, or 0.72%, to 16,382.46, the Nasdaq was down 58.29, or 1.41%, to 4,090.05, and the S&P 500 was down 11.91, or 0.63%, to 1,866.70.
News For PBH;LPNT;DV;AMZN;MSFT;F;CYTK;P From The Last 14 Days
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May 13, 2015
14:52 EDTAMZNAmazon launches new mobile advertising platform
Amazon has launched a new advertising platform for mobile app developers that promises to "promote your app to millions of users on Fire tablet wakescreens and mobile placements on the Amazon Mobile Ad Network." Amazon automatically generates advertisements once an ad placement order is submitted, and touts that an ad campaign can be launched in as little as 90 seconds. Reference Link
13:28 EDTAMZNWal-Mart set to launch Amazon Prime rival, The Information reports
Wal-Mart (WMT) is nearing the launch of a subscription fast-shipping service that will compete with Amazon Prime (AMZN), Amir Efrati of The Information reports, citing people involved with or briefed on the product. The service is an attempt to boost Wal-Mart's online business and should launch in the next few weeks after being pushed back for technical and other issues, Efrati adds. Shares of Amazon are down $2.63 to $428.39 in afternoon trading while Wal-Mart is down 66c to $78.30. Reference Link
13:23 EDTAMZNWal-Mart set to launch rival to Amazon Prime, The Information reports
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10:01 EDTMSFTOn The Fly: Analyst Upgrade Summary
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09:39 EDTAMZNActive equity options trading on open
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09:04 EDTAMZNHouse Judiciary Committee to hold a hearing
The Subcommittee on Courts, Intellectual Property and the Internet holds a hearing entitled, "Stakeholder Perspectives on ICANN: The .Sucks Domain and Essential Steps to Guarantee Trust and Accountability in the Internets Operation" with Vice President Misener of Amazon.com on May 13 at 10 am. Webcast Link
06:07 EDTMSFTMicrosoft upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Karl Keirstead upgraded Microsoft to Buy saying weak PC market sentiment is priced into the stock at current levels while Azure and Office 365 optimism is "just starting" to take hold. The analyst sees more positive than negative catalysts and raised his price target for Microsoft shares to $55 from $44. Shares of the computing giant closed yesterday down 2c to $47.35.
May 12, 2015
13:06 EDTPVivendi says talking to Spotify about streaming, Bloomberg reports
Vivendi (VIVHY) said on its earnings conference call that is having discussions with Spotify regarding a streaming service, Bloomberg reports. Apple's (AAPL) streaming service may affect music sales and margins, Vivendi noted. Shares of Spotify competitor Pandora (P) are up 36c to $18.53 in afternoon trading.
12:37 EDTDVFor-profit education stocks slide after SEC charges ITT with fraud
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10:27 EDTMSFTAppeals court upholds InterDigital loss in patent fight with Microsoft, ZTE
The U.S. Court of Appeals for the Federal Circuit affirmed the final determination of the International Trade Commission finding no violation of Section 337 of the Tariff Act was committed by Microsoft (MSFT) and ZTE related to patents held by InterDigital (IDCC). The patents at issue in the case are directed to cellphone technology, and in particular, code division multiple access networks, according to the appeals court ruling.
09:14 EDTPApps World to hold a conference
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08:07 EDTPSunTrust to hold a conference
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07:45 EDTPJefferies to hold a conference
2015 Global Technology, Media and Telecom Conference is being held in Miami on May 12-14.
May 11, 2015
13:17 EDTMSFTMicrosoft invests in subsea cables to connect datacenters globally
Microsoft (MSFT) announced in a blog post that over the past nine months, "Microsoft has been significantly investing in subsea and terrestrial dark fiber capacity by engaging in fiber partnerships that span multiple oceans and continents. And today, our connections across the Atlantic and Pacific just got stronger.We announced deals with Hibernia and Aqua Comms, in which Microsoft is investing in a cable with each company to connect Microsoft’s datacenter infrastructure from North America to Ireland and on to the United Kingdom. These cables will help deliver data at higher speeds, with higher capacity and lower latency for our customers across the globe. Additionally, we joined a consortium comprised of China Mobile (CHL), China Telecom (CHA), China Unicom (CHU), Chunghwa Telecom (CHT), KT Corporation (KT) with TE SubCom as the cable supplier. As part of our participation in the consortium, Microsoft will invest in its first physical landing station in the US connecting North America to Asia. The New Cross Pacific Cable Network will provide faster data connections for customers, aid Microsoft in competing on cloud costs, all while creating jobs and spurring local economies. The goal of our expansions and investments in subsea cables is so our customers have the greatest access to scale and highly available data, anywhere." Reference Link
09:37 EDTMSFTActive equity options trading on open
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09:03 EDTAMZNAmazon.com to open fulfillment center in Carteret, NJ
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07:12 EDTLPNTLifePoint Hospitals becomes LifePoint Health
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06:11 EDTMSFTStocks with implied volatility below IV index mean; LNKD NFLX
Stocks with implied volatility below IV index mean; LinkedIn (LNKD) 28, Netflix (NFLX) 26 according to iVolatility.
06:11 EDTAMZNStudy: Jet.com has lower prices than Amazon '94% of the time,' WSJ reports
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May 10, 2015
15:28 EDTFFord Venezuela to only sell vehicles in U.S. dollars, Reuters says
Ford's Venezuelan unit will sell vehicles exclusively in dollars beginning late June, Reuters reported Friday, citing two sources familiar with the situation. The country's currency control system has created difficulties converting vehicle sales to dollar revenue, noted Reuters. Reference Link
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