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News Breaks
August 1, 2014
13:46 EDTPKI, EXPE, GPRO, BYI, CVX, SGMS, PGOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday after a report showed that the economy continued to add jobs last month though the pace of hiring slowed a bit from the recent trend. ECONOMIC EVENTS: In the U.S., non-farm payrolls rose 209K in July, missing the 230K forecast. The unemployment rate rose to 6.2% from 6.1% previously. Personal income rose 0.4% in June, with spending up 04% as well, and both of those matched expectations. The final reading of the University of Michigan consumer sentiment index for July came in at 81.8, which was in-line with expectations. seen 81.9; previously 81.3. ISM's manufacturing PMI for July rose to 57.1, beating expectations for a more modest rise to 56.0. Construction spending dropped 1.8% in June, versus expectations for it to have risen 0.4%. COMPANY NEWS: Shares of Procter & Gamble (PG) advanced more than 3% to lead the Dow Jones Industrial Average after the company's core earnings per share beat expectations and it said it intends to pare back its portfolio to focus on the 70 to 80 "core" brands that make up about 90% of its revenue... Another member of the Dow, Chevron (CVX), moved in the opposite direction, falling about 1% after its own earnings report. The oil major also lowered its FY14 production view by 1%-2%, citing weather, asset sales and a shutdown at its Angola LNG site as negative production drivers. MAJOR MOVERS: Among the notable gainers was Bally Technologies (BYI), which jumped 30% after the company agreed to be acquired by Scientific Games (SGMS) for $5.1B, or $83.30 per share. Shares of Scientific Games slipped 1.6% after the news. Also higher following its earnings reports was Expedia (EXPE), which rose 5%. Among the noteworthy losers was GoPro (GPRO), which tumbled 12.5% after the company reported on its earnings per share and revenue for the first time since its initial public offering in June. Also lower following their earnings reports were (WWWW), which fell 25% and was downgraded at SunTrust and BWS Financial, and PerkinElmer (PKI), which fell 4%. INDEXES: A bit before 2:00 pm ET, the Dow was down 60.46, or 0.37%, to 16,502.84, the Nasdaq was down 24.60, or 0.56%, to 4,345.17, and the S&P 500 was down 4.57, or 0.24%, to 1,926.10.
News For PG;CVX;BYI;SGMS;GPRO;EXPE;PKI From The Last 14 Days
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November 18, 2015
08:57 EDTPGProcter & Gamble CFO sees organic sales topline growth resuming in Q2
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08:46 EDTPGProcter & Gamble repeats FY16 guidance in presentation slides
Sees FY16 core EPS growth down slightly to up mid single digits, all-in EPS growth up 53%-63%. Sees FY16 core operating profit up mid to high single digits. Sees FY16 organic sales growth in line to up low single digits, all-in sales growth down high single digits. Sees currency down 5%-6%, Venezuela and minor brand divestitures down 2%-3%. Sees FY16 share retirement/repurchases $8B-$9B, dividends over $7B, cash returned to shareholders $15B-$16B. Comments from slides being presented at the Morgan Stanley Global Consumer and Retail Conference.
06:44 EDTGPROGoPro price target lowered to $15 from $20 at Piper Jaffray
Piper Jaffray analyst Erinn Murphy cut her price target for GoPro (GPRO) shares to $15 after her channel checks indicated further price pressure. The stock closed yesterday down 75c to $20.87. In the last week, GoPro products have been offered on various flash sale websites including making its debut on Liberty Interactive's (QVCA) Zulily yesterday, Murphy tells investors in a research note. She has also seen further price pressure on Amazon (AMZN). The action camera maker will have a difficult time maintaining current margin expectations with price reductions becoming more evident, Murphy argues. She is "incrementally cautious" on GoPro into the holiday season and keeps an Underweight rating on the name.
November 17, 2015
12:11 EDTEXPEExpedia management to meet with Guggenheim
Meeting to be held in FT. Lauderdale on November 18 hosted by Guggenheim.
11:33 EDTSGMSScientific Games volatility elevated on wide share price movement
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10:20 EDTSGMSOptions with increasing implied volatility
Options with increasing implied volatility: SGMS HZNP CSC ULTA RH BURL GME AEO BBRY TIF
07:52 EDTPGMorgan Stanley to hold a conference
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06:57 EDTEXPEExpedia enters strategic technology partnership with SilverRail Technologies
SilverRail Technologies and Expedia announced a strategic technology partnership to power Expedia's global expansion in the rail business. SilverRail's global rail ticketing platform simplifies the process of accessing multiple rail companies through a standard interface. This will enable Expedia to deliver a simple, consistent search and booking experience to which their customers have become accustomed. Development has already begun, with platform launch expected in 2016.
November 16, 2015
17:02 EDTCVXPoint72 added to lululemon position, subtracted from Netflix position
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12:49 EDTGPROStocks with call strike movement; FIT GPRO
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10:07 EDTEXPEExpedia shares defended at Cowen
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09:37 EDTEXPEActive equity options trading on open
Active equity options trading on open: AAPL FB ORCL BAC SUNE FDX FCX EXPE NFLX MU AMZN INTC TSLA
08:33 EDTSGMSScientific Games announces retirement of CFO Scott Schweinfurth
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06:51 EDTCVXBig energy firms saw 70% earnings dip for first nine months, WSJ says
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November 12, 2015
12:18 EDTGPROGoPro sinks below $24 IPO price, drops $1.59 to $23.50
08:15 EDTPGTarget names Melanie Healey to board of directors
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08:11 EDTEXPEExpedia outlook has improved, says Cantor
After meeting with Expedia's management, Cantor says it's more upbeat on the company's growth prospects, profitability and competitive positioning than previously. The firm is more bullish than ever on Expedia's opportunity to benefit from the HomeAway deal. Cantor reiterates a $150 price target and Buy rating on Expedia.
07:07 EDTEXPELiberty Interactive to spin off CommerceHub and Liberty Expedia Holdings
Liberty Interactive (QVCA, QVCB, LVNTA, LVNTB) announced that its board has authorized management to pursue the spin-offs of two newly formed companies to be called CommerceHub and Liberty Expedia Holdings to holders of its Liberty Ventures Group stock. CommerceHub, Inc. would be comprised of the CommerceHub business. Frank Poore, the founder of CommerceHub, will continue in his role as CEO. In the spin-off of CommerceHub, Inc., record holders of Series A and Series B Liberty Ventures common stock would receive shares of the corresponding series of CommerceHub, Inc. common stock for each share of Liberty Ventures common stock held. Expedia Holdings would be comprised of, among other things, Liberty Interactive's entire ownership interest in Expedia (EXPE), as well as Liberty Interactive's subsidiary, LLC. In the spin-off of Expedia Holdings, record holders of Series A and Series B Liberty Ventures common stock would receive shares of the corresponding series of Expedia Holdings common stock for each share of the Liberty Ventures Group common stock held. Liberty Interactive expects that the Expedia Holdings Series A and Series B common stock will trade under the symbols LEXEA/B, respectively, and that the CommerceHub, Inc. Series A and Series B common stock will trade under the symbols CHUBA/B, respectively, in each case, on the Nasdaq Stock Market. The applicable record dates, distribution dates and distribution ratios for the Spin-Offs will be announced at a later date. Each of the Spin-Offs is intended to be tax-free to stockholders of Liberty Ventures and will be subject to various conditions including the receipt of an opinion of tax counsel. Subject to the satisfaction of the applicable conditions, the completion of each of the Spin-Offs is expected to occur in the first half of 2016.
05:25 EDTSGMSStocks with implied volatility movement; NTI SGMS
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November 11, 2015
10:17 EDTSGMSOptions with decreasing implied volatility
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