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Stock Market & Financial Investment News

News Breaks
February 21, 2014
12:21 EDTPCLN, GRPN, HPQ, ESC, BKD, STRA, COG, NEMOn 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 priceline.com (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.
News For PCLN;GRPN;HPQ;ESC;BKD;STRA;COG;NEM From The Last 14 Days
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October 23, 2014
08:13 EDTCOGCabot among Marcellus producers hardest hit by glut, WSJ says
The rapid growth of production from the Marcellus Shale has caused gas prices to drop and forced drillers to re-evaluate operations, with Cabot Oil and Gas (COG) among the hardest hit, said The Wall Street Journal. Other companies mentioned as being impacted and having responded in the report include Ultra Petroleum (UPL), Chesapeake Energy (CHK) and Carrizo Oil & Gas (CRZO). Reference Link
07:00 EDTCOGCabot Oil & Gas initiated with a Neutral at Susquehanna
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October 22, 2014
13:11 EDTHPQFirm says Chromebook shipments surged 67% in Q2
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10:09 EDTGRPNOn The Fly: Analyst Initiation Summary
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09:15 EDTHPQEMC says will not comment on 'speculation, rumors' of talks with Hewlett-Packard
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October 21, 2014
17:25 EDTGRPNGroupon initiated with a Buy at Brean Capital
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14:39 EDTHPQHP to unveil 'Sprout' computer with projector, 3D scanner, Re/code reports
HP (HPQ) will unveil a new computing product it is calling "Sprout," which combines a large display with a flat touch-enabled work surface and an overhead assembly combining a projector and a 3-D scanner, at an event next week, reported Re/code, citing sources familiar with the plans. Sprout will be one of several products demonstrated at the event, the report added. Microvision (MVIS) develops high-resolution miniature laser display and imaging engines, though the company is not mentioned anywhere within Re/Code's report. Reference Link
14:34 EDTHPQEarnings Preview: EMC reports after HPQ merger talks said to end
EMC Corporation (EMC) is expected to report third quarter earnings before the bell on Wednesday, October 22, with a conference call scheduled for 8:30 am ET. EMC provides software, hardware and IT services to business customers through its three federated businesses: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure, which is represented by EMC’s majority equity stake in VMware (VMW). VMware is expected to report on its own third quarter results after the bell on Tuesday, October 21, with a conference call scheduled for 5:00 pm ET. EXPECTATIONS: For EMC, analysts are looking for earnings per share of 46c on revenue of $6.0B. The consensus range is 44c-49c for EPS and $5.91B-$6.16B for revenue, according to First Call. Along with its last earnings report, EMC raised its FY14 adjusted EPS view to $1.91 from $1.90 and guided to FY14 revenues of $24.58B. Analysts consensus for FY14 EPS and revenue currently stand at $1.91 and $24.55B. For VMware, analysts are looking for earnings per share of 83c on revenue of $1.5B. The consensus range is 81c-85c for EPS and $1.48B-$1.52B for revenue, according to First Call. LAST QUARTER: EMC reported Q2 adjusted EPS of 43c, which matched the consensus expectation. EMC's revenue of $5.9B came in slightly ahead of the $5.83B consensus projection. EMC also accelerated its 2014 share buyback plan, stating that it now expects to repurchase an aggregate of $3B of the company's common stock in 2014. VMware reported Q2 EPS of 81c, versus consensus of 79c, on revenue $1.46B, versus consensus of $1.44B. NEWS: VMware held its "VMWorld 2014" conference from August 24-28, during which the company updated its 2015 guidance. VMware's guidance for revenue growth in the mid teens percentage level and margin expansion of up to one percentage point is positive, RBC Capital analyst Matthew Hedberg wrote in a note to investors on August 26. The same day Cowen analyst Gregg Moskowitz wrote that VMware's FY15 revenue guidance would "likely weigh modestly" on the stock, even though he was not surprised by the outlook. Less than two weeks ago, Elliott Management sent a letter to the board of directors of EMC Corporation detailing its recommendations on the right path forward for EMC, in which Elliott holds a stake. Elliott believes that EMC’s Federation structure obscures enormous value at the company and that the board and management should pursue pathways to recognize this value, including a separation of VMware from Core EMC and/or various M&A opportunities, Elliott wrote. In response, EMC said its directors regularly review and evaluate the company's strategy with a view towards enhancing shareholder value. "Over the past few months, EMC's leadership has met with representatives of Elliott several times and has listened carefully to their ideas, as we do with all of our shareholders," the company said. Last week, HP (HPQ) announced the resumption of its share repurchase program after Reuters reported the company's merger talks with EMC had ended. HP had suspended the buyback program due to "possession of material non-public information." The tech giant said that day that it is "no longer in possession of such information." During September, Re/code reported, citing sources familiar with Oracle's plans, that the company was not interested in acquiring EMC. Meanwhile, Cisco (CSCO) CEO John Chambers also said last month at a Wall Street Journal breakfast that his company is not among the potential merger partners for EMC. Chambers said a deal between the two companies would have been done a "year or two ago" were it to happen, according to Reuters. STREET RESEARCH: On the day after its last earnings report, Brean Capital raised its price target on EMC to $33 from $30, citing the company's aggressive capital return strategy, encouraging core Storage dynamics and potential pent up demand. Tigress Financial, however, downgraded EMC to Buy from Strong Buy, citing valuation. Additionally, VMware estimated that its total available market would reach more than $60B in 2017, versus its estimate last year of a $50B+ total addressable market by 2016, Moskowitz noted. PRICE ACTION: In afternoon trading, EMC shares are up 1% to $27.22, while VMware is fractionally higher at $87.79. Over the last three months, EMC shares have declined almost 4%, while VMware's stock is down about 5.5% in that same time frame.
10:00 EDTCOGOn The Fly: Analyst Upgrade Summary
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09:07 EDTHPQFlextronics appoints Michael Mendenhall as Chief Marketing Officer
Flextronics (FLEX) announced that Michael Mendenhall has been appointed to lead the Company's worldwide marketing, branding and communications initiatives. Mendenhall most recently served as the Executive Vice President and Chief Marketing and Communications Officer for Fusion-io. In this role, he was responsible for repositioning the Company's brand and products and played a key role in its successful acquisition by SanDisk (SNDK). Previously, he served as Senior Vice President and Chief Marketing Officer for HP (HPQ) and directed all aspects of corporate marketing operations globally.
05:56 EDTCOGCabot Oil & Gas upgraded to Outperform from Market Perform at Bernstein
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October 20, 2014
16:24 EDTPCLNPriceline raises stake in Ctrip.com to 7.9% from 6.88%
16:14 EDTGRPNGroupon updates IPhone app to include Apple Pay
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12:09 EDTHPQIBM hits 52 week low after earnings miss, 2015 profit target dropped
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10:25 EDTHPQIBM CEO says company already has been aggressive on changing
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06:17 EDTNEMNewmont Mining upgraded to Buy from Neutral at Citigroup
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October 17, 2014
06:24 EDTHPQStocks with implied volatility below IV index mean; HPQ NFLX
Stocks with implied volatility below IV index mean; HP (HPQ) 31, Netflix (NFLX) 40 according to iVolatility.
06:24 EDTHPQGlobal notebook shipments estimated at over 45M units, Digitimes Research says
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06:21 EDTHPQHP dismisses concerns about drop in global notebook market share, DigiTimes says
HP has dismissed concerns from Taiwan supply chain makers that say the company's global notebook market share may drop significantly following the split, reports DigiTimes. According to makers, HP said it will maintain notebook operations with 2015 target shipments of at least 31M units. Reference Link
October 16, 2014
07:21 EDTHPQHP split-up speaks to value of businesses, says Brean Capital
Brean Capital thinks the HP plan to split into two companies speaks to the inherent value of its businesses. The firm believes the split could be a beginning, with the next phase consisting of M&A activity. Brean Capital maintains its Buy rating and $45 price target on HP shares.
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