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Stock Market & Financial Investment News

News Breaks
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 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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January 20, 2015
14:09 EDTPCLNOrbitz jumps after Bloomberg says company may be exploring sale
Shares of online travel agency Orbitz Worldwide (OWW) are jumping after Bloomberg reported that the company is exploring the possibility of selling itself. In a note to investors on January 7, research firm FBR Capital wrote that the company could be acquired for over $10 per share, WHAT'S NEW: Orbitz is exploring a potential sale and private equity firms have expressed interest in acquiring the online travel agency, Bloomberg reported today. ANALYST VIEW: On January 7, research firm FBR Capital estimated that Orbitz could be acquired for $10.27 per share. The firm noted that a trade publication, Tnooz.com, had reported that Orbitz could be considering selling itself. Expedia (EXPE) and Priceline (PCLN) could each pay a premium of 30%-plus for Orbitz and still see their profits rise from the acquisition, FBR added. It kept a $9 price target and Outperform rating on Orbitz. PRICE ACTION: In mid-afternoon trading, Orbitz climbed 69c, or 7.5%, to $9.85.
13:51 EDTPCLNOrbitz draws private equity interest as sale explored, Bloomberg says
Orbitz Worldwide (OWW) is working with an adviser to contact potential buyers and has drawn interest from private-equity funds and "other Internet companies," according to Bloomberg, citing people with knowledge of the matter. Shares of Orbitz are up over 10% after the report, while several other names in the online travel space, such as Priceline (PCLN), Expedia (EXPE), and TripAdvisor (TRIP) are also moving. Reference Link
13:43 EDTPCLNExpedia, TripAdvisor tick higher after report on Orbitz sale exploration
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12:55 EDTHPQThousands of HP employees protest new China head, China Daily says
About 2,500 employees of HP's (HPQ) China based subsidiary, H3C Technologies, have signed a petition against HP's new China chairman, Mao Yu'nan, according to China Daily. The employees fear that Mao will endanger H#C's autonomy and torpedo an employee stock option plan that has been in the works for some time, the newspaper stated. Reference Link
11:13 EDTHPQHP looks to boost sales with specific tablets for professionals, Bloomberg says
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January 19, 2015
12:56 EDTHPQHP-Autonomy investigation closed by U.K.'s Serious Fraud Office
The Director of the Serious Fraud Office has closed the SFO's investigation into the sale of Autonomy to the Hewlett-Packard company in 2011. This investigation was commenced in early 2013, following a referral from HP.In respect of some aspects of the allegations, the SFO has concluded that, on the information available to it, there is insufficient evidence for a realistic prospect of conviction.In respect of other aspects and on the application of well-established principles, jurisdiction over the investigation has been ceded to the US authorities whose investigation is ongoing. Reference Link
January 16, 2015
10:47 EDTBKDBofA/Merrill healthcare facilities analyst analyst/industry conference call
Healthcare Facilities & Managed Care Analyst Bressler discusses the legislative and regulatory outlook for the industry for 2015 on an Analyst/Industry conference call to be held on January 23 at 2 pm.
06:10 EDTHPQGlobal notebook shipments to reach 46M units in Q4, DigiTimes Research says
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January 15, 2015
14:45 EDTSTRAFor-profit education names slip after Wells says search data negative
Shares of a number of for-profit education companies are falling after Wells Fargo wrote that Google search trends do not bode well for the sector. WHAT'S NEW: Google search trends for the fourth quarter indicate that students' interest in for-profit education companies probably did not increase significantly during that period, Wells Fargo analyst Trace Urdan wrote in a note to investors today. The data indicates that new student enrollment at the schools could even come in below already pessimistic expectations, Urdan reported. The analyst found that searches for terms related to for-profit schools dropped in Q4, versus the same period a year earlier. Moreover, there were many more searches in Q4 for non-profit schools than for-profit colleges, Urdan stated. Sentiment towards for-profit education names is already "quite weak" after President Obama on January 9 proposed allowing all Americans to attend community college at no cost and Apollo Education (APOL) on January 8 provided lower than expected Q2 revenue guidance, Urdan stated. As a result, investors may already be expecting schools in the sector to report weak enrollment data, Urdan believes. However, the search data for Strayer (STRA) is "more negative than positive," even though expectations for the company appear to be elevated, the analyst reported. On a positive note, search results for Capella Education (CPLA), Grand Canyon (LOPE), and DeVry's (DV) Chamberlain looked better than average, Urdan reported, adding that investors' expectations towards those names are relatively upbeat. PRICE ACTION: In mid-afternoon trading, Strayer fell 1% to $68, ITT Educational fell 3.6% to $8.37, Bridgepoint Educational (BPI) tumbled 4.5% to $10.10, American Public (APEI) slid 2.25% to $33.89, and Grand Canyon gave back 2% to $43.
10:29 EDTGRPNOptions with increasing implied volatility
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08:08 EDTGRPNGroupon upgraded at Evercore ISI
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06:55 EDTHPQHP removed from short-term buy list at Deutsche Bank
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06:15 EDTGRPNGroupon upgraded to Hold from Sell at Evercore ISI
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January 14, 2015
10:39 EDTGRPNOptions with increasing implied volatility
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06:14 EDTHPQMediaTek: Worldwide tablet shipments rise at slower pace, DigiTimes says
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January 13, 2015
12:48 EDTHPQOn The Fly: Midday Wrap
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11:57 EDTHPQHP rises after PC report despite Pacific Crest downgrade
Shares of personal computer maker Hewlett-Packard (HPQ) are rising after research firm Gartner estimated that worldwide PC shipments had risen 1% last quarter. The advance comes despite research firm Pacific Crest having downgraded HP shares this morning. WHAT'S NEW: Worldwide shipments of PCs increased 1% last quarter, Gartner estimated. "These results indicate a slow, but consistent improvement following more than two years of decline," the firm wrote. The estimate suggests that PCs are not fading into oblivion, as some had predicted. Despite this news, research firm Pacific Crest downgraded HP to Sector Perform from Outperform in a note to investors today. HP is facing increased competition, as a number of companies are buying fewer individual servers and IT storage products, Pacific Crest analyst Brent Bracelin stated. Instead, they are buying integrated IT stacks. Ongoing technological trends could make this option more popular going forward, the analyst believes. Additionally, new data storage systems - including next wave systems with software-defined controls, cloud storage systems, and open sources systems - are growing rapidly and could increase the competitive pressure on HP, the analyst stated. Bracelin is less confident that HP's multiple can expand further going forward, he added. WHAT'S NOTABLE: Bracelin also downgraded NetApp (NTAP) to Sector Perform from Outperform for the same reasons that he cut his rating on HP. The analyst identified Tableau (DATA), F5 Networks (FFIV), Qlik Technologies (QLIK), and Nimble Storage (NMBL) as his favorite names in the IT infrastructure sector. F5 should benefit from earnings and multiple expansion as it carries out its security strategy, while Qlik is well-positioned to generate improved growth and margins, the analyst stated. Tableau and Nimble are poised to report better than expected results as their new products ramp up, Bracelin believes. OTHERS TO WATCH: Other companies that benefit from upbeat PC sales include Intel (INTC), Microsoft (MSFT), and hard disk drive makers Seagate (STX) and Western Digital (WDC). PRICE ACTION: In late morning trading, HP shares climbed 1.5% to $40.50.
10:00 EDTHPQOn The Fly: Analyst Downgrade Summary
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06:44 EDTHPQHP downgraded to Sector Perform from Outperform at Pacific Crest
Pacific Crest downgraded HP (HPQ) to Sector Perform citing valuation and rising competitive risks from hyperconvergence and new datastores. The firm lists Tableau (DATA), F5 Networks (FFIV), lik Technologies (QLIK) and Nimble Storage (NMBL) as its top names to own in the Cloud, Analytics & Data Infrastructure space. Pacific Crest also downgraded also NetApp (NTAP) to Sector Perform citing the same rationale as HP.
05:50 EDTGRPNStocks with implied volatility movement; GRPN FEYE
Stocks with implied volatility movement; Groupon (GRPN) 70, FireEye (FEYE) 66 according to iVolatility.
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