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Stock Market & Financial Investment News

News Breaks
April 11, 2014
12:44 EDTMU, PCLN, P, AMZN, BIDU, TWTRHedge funds initiating shorts on Priceline, Amazon, Twitter, CNBC says
CNBC's Scott Wapner, citing an unnamed brokerage report, said hedge funds are actively initiating shorts on Priceline (PCLN), Amazon (AMZN) and Twitter (TWTR). The report says Micron (MU), Baidu (BIDU) and Pandora (P) are seeing heavy short covering.
News For PCLN;TWTR;AMZN;MU;BIDU;P From The Last 14 Days
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June 16, 2015
05:26 EDTBIDUBaidu subsidiary iQIYI paid subscribers reach 5M
iQIYI, an independently operated subsidiary of Baidu, announced that the company's paid streaming subscribers have reached 5M as of June 15, a 765% annual increase.
June 15, 2015
16:21 EDTMUOn The Fly: Top stock stories for Monday
Stocks opened deep in negative territory after Greece failed to reach a bailout compromise over the weekend. The averages saw their lows shortly after the open and then began to rebuild and pared their losses. The averages found a level near noon, then drifted into the close with investors looking forward to the two day FOMC meeting that begins tomorrow. The committee's announcement Wednesday afternoon is sure to be the week's most closely watched event among investors. ECONOMIC EVENTS: In the U.S., industrial production declined 0.2% in May, versus expectations for a 0.2% increase in production, sending capacity utilization in the month down to 78.1%, versus expectations for 78.3% utilization. The Empire manufacturing index, which measures manufacturing activity in New York State, had a reading of -1.98 for June, versus expectations for a +6.0 reading. The NAHB homebuilder sentiment index jumped to 59 in June from 54 in May, which was above the expected increase to a reading of 56. In Europe, talks between Greece and its creditors appeared to go nowhere. The expiration of its bailout package and debt repayments due at the end of the month continue to move closer and concerns about a possible default that could trigger an exit from the euro are rising once again. COMPANY NEWS: Shares of Target (TGT) advanced 98c, or 1.23%, to $80.45 after the retailer agreed to sell its pharmacy and clinic businesses to CVS Health (CVS) for approximately $1.9B. Under the terms of the deal, CVS will acquire Target's more than 1,660 pharmacies and operate them through a store-within-a-store format and a CVS/pharmacy will be included in all new Target stores that offer pharmacy services. CVS, which said it expects this transaction to generate significant sales and prescription volumes upon closing and to generate significant operating profit over the long term, rose 34c, or 0.33%, to $102.58 following the deal announcement... United Technologies (UTX) fell $2.99, or 2.54%, to $114.61 after announcing that it will pursue the separation of the Sikorsky Aircraft business. A decision on whether the helicopter maker will be spun off or sold is expected by the end of the third quarter, the Dow member added. In conjunction with the announcement, United Technologies also lowered its FY15 EPS view to $6.55-$6.85 from $6.85-$7.05, explaining that the cut in its expectations reflects one-time separation costs as well as a decline in Sikorsky's operational expectations for the year due to weakness in the oil and gas markets. MAJOR MOVERS: Among the notable gainers was Cigna (CI), which jumped $16.19, or 11.79%, to $153.50 after The Wall Street Journal was reportedly told by a source that the company and Anthem (ANTM) have been in deal talks for months and Anthem's most recent takeover bid of $175 per share was turned down by its peer. A prior report from the Journal indicated that Humana (HUM) has hired Goldman Sachs to explore strategic alternatives and had held sale talks with companies including Cigna and Aetna (AET). This new report also noted that the largest health insurer by market cap and revenue, UnitedHealth Group (UNH), is "eyeing" Cigna and Aetna. Among the noteworthy losers was Micron (MU), which dropped 89c, or 3.56%, to $24.24 after Morgan Stanley downgraded the stock to Underweight, becoming the second firm in the last week to cut the stock to a sell or equivalent rating. Also lower were shares of SanDisk (SNDK), which fell $1.96, or 2.97%, to $64.14 after the same Morgan Stanley analyst, Joseph Moore, downgraded the stock to Equal Weight from Overweight and lowered his price target on shares to $75 from $80. INDEXES: The Dow fell 107.67, or 0.6%, to 17,791.17, the Nasdaq lost 21.13, or 0.42%, to 5,029.97, and the S&P 500 dropped 9.68, or 0.46%, to 2,084.43.
16:00 EDTTWTR, MUOptions Update; June 15, 2015
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11:50 EDTAMZNStocks with call strike movement; TSLA AMZN
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10:34 EDTMUMicron declines after another analyst says sell
The shares of memory makers Micron (MU) and SanDisk (SNDK) are falling after Morgan Stanley downgraded both stocks in a note to investors earlier today. MICRON: Morgan Stanley analyst Joseph Moore downgraded Micron to Underweight, the firm's equivalent of a "sell" rating, from Equal Weight. Moore said that his checks in Taiwan indicate that the outlook for DRAM, a form of flash memory sold by Micron, is "cautious versus expectations" for the third quarter. Previously, the analyst had expected DRAM to experience a seasonal boost in Q3, but he now expects this lift to be delayed until at least Q4. Moreover, DRAM prices will probably stay weak through Q3 as customers' inventories of DRAM are excessive, while sales of PC DRAM will probably remain weak in Q3 and could stay low in Q4, the analyst stated. Moore is concerned that DRAM supply could exceed expectations in 2016, while demand for the product could decelerate next year. Micron could have difficulty improving its earnings in 2016 from current levels, warned the analyst, who set a $21 price target on the shares. WHAT'S NOTABLE: On June 9, after conducting checks in Taiwan, research firm Piper Jaffray predicted that PC DRAM prices would continue to decline. However, the firm kept an Overweight rating on Micron, citing its belief that the stock's valuation was "compelling." Much more pessimistic was research firm Drexel Hamilton, which on June 9 cut its rating on Micron to Sell from Hold, DRAM price declines are likely to continue, the firm predicted. SANDISK: On SanDisk, Moore believes that the company will have trouble recovering from declines in purchases of its products by Apple (AAPL). Various technological issues will prevent it from selling its products to other smartphone makers, the analyst stated. Meanwhile, SanDisk is unlikely to find alternative buyers for its SSD memory, since it is not widely used, added Moore. As a result, SandDsk will have to charge lower prices for its products, according to Moore, who downgraded SanDisk to Equal Weight from Overweight and lowered his price target on shares to $75 from $80. PRICE ACTION: In early trading, Micron fell 4.5% to $24 and SanDisk gave back 3.3% to $63.90.
10:00 EDTMUOn The Fly: Analyst Downgrade Summary
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09:45 EDTMUMicron falls after downgrade, levels to watch
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09:40 EDTTWTRTwitter touches 52-week lows, levels to watch
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09:38 EDTMU, TWTRActive equity options trading on open
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09:22 EDTMUOn The Fly: Pre-market Movers
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08:48 EDTAMZNFacebook poised to benefit from Internet ad growth, says RBC Capital
RBC Capital says that it "sees something of" a positive turning point in Internet advertising, driven by demand for video and mobile ads. The firm thinks that Facebook (FB) may be the biggest beneficiary of this trend. RBC finds the stock's valuation "highly attractive" and identifies Facebook as its second favorite large cap Internet stock behind Amazon (AMZN). RBC keeps a $105 price target and Outperform rating on Facebook.
08:01 EDTMUMicron downgraded to Underweight on 2016 uncertainty at Morgan Stanley
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07:38 EDTAMZNAmazon.com price target raised to $400 from $380 at Canaccord
Canaccord raised its price target on Amazon.com to $400 from $380 based on the constructive margin commentary from the company, solid growth and the breakout of AWS as a separate segment. Canaccord maintained its Hold rating on Amazon.com shares.
07:17 EDTTWTRAlwaleed says would support Dorsey as Twitter CEO, CNBC reports
Prince Alwaleed bin Talal of Saudi Arabia, one of Twitter’s (TWTR) largest stakeholders, clarified statements from The Financial Times, saying that should Twitter interim CEO Jack Dorsey wish to take on the CEO role, "I would support him," CNBC reports. He also commented that "The Financial Times was wrong" in its report, which suggested that Alwaleed would not support Dorsey as permanent CEO of the company.
07:13 EDTTWTRTwitter volatility stays low after Costolo steps down as CEO
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06:36 EDTTWTRPrince Alwaleed does not support Dorsey as Twitter CEO, FT reports
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06:30 EDTTWTRSquare planning to go public this year, Forbes reports
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06:19 EDTMUMicron downgraded to Underweight from Equal Weight at Morgan Stanley
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06:12 EDTTWTRTwitter CFO Noto a 'front-runner' to succeed Costolo as CEO, WSJ reports
Twitter CFO Anthony Noto, who has accumulated a broad range of responsibilities in less than a year on the job, has emerged as a front-runner to succeed Dick Costolo, who will be stepping down as CEO on July 1, The Wall Street Journal reports. According to a source, Noto "isn't gunning for the CEO job." Reference Link
05:59 EDTTWTRStocks with implied volatility above IV index mean; TWTR BBRY
Stocks with implied volatility above IV index mean; Twitter (TWTR) 32, BlackBerry (BBRY) 51 according to iVolatility.
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