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February 21, 2014
12:21 EDTSTRA, HPQ, NEM, BKD, GRPN, COG, ESC, PCLNOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite the day's primary economic report, on existing homes sales, coming in below expectations. Stocks began the session moderately higher as traders rolled out positions ahead of options expiration. The market seemed to lack direction in the opening moments but the buyers emerged following the housing data, as investors may have been cheered that sales fell only slightly more than expected. ECONOMIC EVENTS: In the U.S., existing home sales fell 5.1% from the prior month to a rate of 4.62M in January, which was only slightly worse that projected by economists. COMPANY NEWS: Shares of online travel agency (PCLN) climbed 3% to trade near $1,325 per share after the company reported stronger than expected fourth quarter results last night. Many research firms reacted to priceline's results and guidance by raising their price targets on the shares, with more than one hiking their targets above $1,500 per share... Groupon (GRPN) reported fourth quarter earnings per share of 4c, excluding certain items, and revenue of $768.4M, beating expectations. However, the company forecast first quarter losses per share 2c-4c, which was far below expectations of 6c per share in earnings. Groupon said it expects one-time costs related to the integration of its recent acquisitions, specifically as it consolidates Ticket Monster with its Korean business, and anticipates approximately $25M of additional investment in marketing and other growth initiatives to drive adoption of the marketplace. Shares of the local e-commerce marketplace owner were down 18% near noon after the report. MAJOR MOVERS: Among the notable gainers was Emeritus (ESC), which rose almost 37% after agreeing to a $2.8B deal to merge with Brookdale Senior Living (BKD) in a stock exchange transaction. Also higher was following its earnings report was for-profit education company Strayer Education (STRA), which jumped about 26%. Among the noteworthy losers was Hewlett-Packard (HPQ), which fell 1% after its first quarter results beat expectations but its earnings forecast for the new quarter came in generally below expectations. Also lower following their earnings reports were Cabot Oil & Gas (COG), which fell 7%, and Newmont Mining (NEM), which dropped 6%. INDEXES: Near midday, the Dow was up 28.90, or 0.18%, to 16,162.13, the Nasdaq was up 12.40, or 0.29%, to 4,279.94, and the S&P 500 was up 3.94, or 0.21%, to 1,843.72.
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October 8, 2015
07:50 EDTGRPNGroupon initiated with an Underperform at Cowen
Cowen initiated Groupon with an Underperform and $2.75 price target on shares. Cowen analyst Kevin Kopelman said recent growth figures suggest the voucher marketplace has peaked and notes the food delivery space is hyper-competitive, making ROI difficult to generate.
07:01 EDTBKDBrookdale Senior Living downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill downgraded Brookdale Senior Living to Neutral and lowered its price target to $25 from $35. The firm sees limited upside potential over the next year given weak industry fundamentals and ongoing issues around the Emeritus integration. BofA/Merrill said Q3 industry data indicates it will be difficult for Brookdale to show near-term improvement.
06:59 EDTHPQEMC, Dell deal could boost infrastructure valuations, says William Blair
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05:58 EDTHPQOptions expected to be active: EMC VMW IBM HPQ ORCL AA DB LL
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October 7, 2015
04:59 EDTHPQStocks with implied volatility movement; WFT HPQ
Stocks with implied volatility movement; Weatherford (WFT) 81, Hewlett-Packard (HPQ) 36 according to iVolatility.
October 6, 2015
06:23 EDTPCLNPriceline implied volatility of 34 at upper end of index mean range
05:51 EDTPCLNStocks with implied volatility movement; ODP PCLN
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October 1, 2015
11:15 EDTHPQAutonomy's Mike Lynch sues HP for $150M in damages, Reuters reports
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09:12 EDTPCLNUBS internet and leisure analysts hold an analyst/industry conference call
Internet Analyst Sheridan and Leisure Analyst Farley, along with Max Starkov, the CEO of HeBS Digital, discuss the mechanics of instant booking on Google and TripAdvisor, the pros and cons of these programs from a hotelier's perspective and what impact Google and TripAdvisor's instant booking programs will have on Expedia and on an Analyst/Industry conference call to be held on October 1 at 10:30 am.
07:48 EDTHPQHP board approves separation
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06:20 EDTNEMBarrick adviser: Not in talks with Newmont on gold mine stake sale, Reuters says
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06:03 EDTPCLNPriceline has best risk/reward in online travel, says Piper Jaffray
Piper Jaffray analyst Michael Olson says Priceline (PCLN) has the most favorable risk/reward in the online travel space given its "attractive" valuation and exposure to broad strength in Europe. Travel industry trends in Europe during Q3 indicate a solid quarter while U.S. trends showed mixed results, Olson tells investors in a research note. He believes the recent selloff in Priceline presents an attractive entry point. The analyst reiterates Overweight ratings on Priceline, HomeAway (AWAY) and TripAdvisor (TRIP). Olson keeps a Neutral rating on Expedia (EXPE) saying the valuation "appears full" compared to peers.
September 30, 2015
15:39 EDTHPQHP announces transactions to retire up to $8.85B of debt securities
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10:49 EDTHPQWestern Digital surges on $3.78B investment from China's Unisplendour
Shares of Western Digital (WDC) surged in morning trading after the company said it Unisplendour will take a 15% stake in the U.S. data storage company. WHAT'S NEW: Western Digital and Unisplendour, a unit of China's Tsinghua Holdings, said they entered into a pact under which a Unis subsidiary will invest $3.78B in Western Digital, the companies said. Under the terms of the agreement, Unis will buy the shares at $92.50 each. Unisplendour will own 15% of Western Digital's outstanding shares after the purchase, and have the right to nominate one representative to Western Digital's board of directors, a right that terminates if Unis' ownership falls below 10%. Unis also agreed not to sell any of its Western Digital shares for five years. WHAT'S NOTABLE: In July, the Wall Street Journal reported that Tsinghua Unigroup, which is majority-owned Tsinghua Holdings, offered to buy Micron Technology (MU) for $23B. After several talks and meetings over the matter, Reuters reported on August 28 that Zhao Weiguo, chairman of Tsinghua Unigroup, met with Micron in an attempt to revive takeover talks, but a deal did not come to fruition. Tsinghua Holdings chairman Jinghong Xu said that his company was open to a partnership with Micron if an acquisition deal could not be reached, dealReporter said. Separately, in May, Hewlett-Packard (HPQ) announced that it would sell a 51% stake in its H3C business to Unisplendour for roughly $2.3B. PRICE ACTION: In morning trading, Western Digital shares are up 16.06% to $79.91. OTHERS TO WATCH: Micron, which reports quarterly earnings on Thursday, is up 5.25% to $15.10, HP is up 2.56% to $25.28, SanDisk (SNDK) is up 9.2% to $53.63, Intel (INTC) is up 3.56% to $30.28, and Seagate (STX) is up 5.5% to $44.10.
09:25 EDTHPQJefferies more positive on EMC, more negative on IBM
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09:21 EDTGRPNOrderUp updates iPhone app to include Apple Pay
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September 29, 2015
12:26 EDTCOGCabot Oil & Gas backs FY15 production growth view 10%-18%
Information from company slides presentation.
09:03 EDTHPQHP updates entry-level workstation
HP (HPQ) announced the HP Z240 Tower and Z240 SFF Workstations with next generation Intel (INTC) processors and HP Z Turbo Drive options, raising the bar for entry-level workstations, while providing the reliability of a workstation at the price point of a desktop PC. The Z240 is the latest update to the world's No. 1 ranked entry-level workstation, the HP Z230. As HP's most affordable workstation, the Z240 is ideal for customers in the video editing, MCAD/AEC, education, public sector and image viewing industries.
September 28, 2015
18:23 EDTBKDBrookdale Senior Living appoints Decker as non-executive chairman
Brookdale Senior Living announced that its board of directors has appointed Daniel Decker as a director and non-executive chairman, effective October 1. Decker will fill the vacancy on the board resulting from the recent passing of Granger Cobb. Decker will succeed Jeffrey Leeds as non-executive chairman. Leeds has served in such role since 2012 and will continue to serve as an independent director. Leeds has served in such role since 2012 and will continue to serve as an independent director.
16:10 EDTHPQHP initiated with a Neutral at Sterne Agee CRT
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