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December 13, 2013
16:40 EDTDSX, ADBE, QCOM, TROX, SBLK, MSFT, APC, SB, KOOn The Fly: Closing Wrap
Stocks on Wall Street were mixed, as the S&P 500 closed just slightly negative, while the Dow and Nasdaq logged modest gains. For the week, each of the major equity indexes fell more than 1.5%, giving the market its worst weekly performance since August. ECONOMIC EVENTS: In the U.S., the producer prices index showed that prices fell 0.1% during the month of November, versus the consensus expectation for the index to remain unchanged. The index's core reading, which excludes food and energy, rose 0.1%, matching expectations. COMPANY NEWS: Chipmaker Qualcomm (QCOM), along with soft drink giant Coca-Cola (KO), announced significant management changes. Qualcomm announced that its current COO, Steve Mollenkopf, was promoted to CEO-elect, news that followed a Bloomberg report last night that said Microsoft (MSFT) was considering Mollenkopf for its own CEO post. In its own management reshuffling, Coca-Cola last night announced that it would divide its North America business into two units. In addition, Steve Cahillane, the president of Coca-Cola Americas who had been reported to be a potential candidate to eventually succeed CEO Muhtar Kent, decided to leave the company. Shares of both companies were little changed following the news. MAJOR MOVERS: Among the notable gainers was Adobe (ADBE), up $6.90, or 12.78%, to $60.89, after reporting quarterly revenue that beat expectations and said it expects to surpass 4M "Creative Cloud" subscribers by the end of fiscal year 2015. Shares of the software maker, however, initially traded lower last night after its report after giving an earnings and revenue outlook for next quarter that disappointed. Also higher were a number of shipping names, including Safe Bulkers (SB), up 95c, or 11.9%, to $8.93, Star Bulk Carriers (SBLK), up $1.18, or 12.73%, to $10.45, and Diana Shipping (DSX), up $1.13, or 10.14%, to $12.27, after the stocks were mentioned positively by analysts at Morgan Stanley. Among the noteworthy losers was Anadarko Petroleum (APC), down $5.37, or 6.42%, to $78.30 after a court ruled that the company and its Kerr-McGee unit acted improperly in its 2005 spin-off of Tronox (TROX). Tronox shares gained $1.59, or 7.51%, to $22.76 following the ruling. INDEXES: The Dow was up 15.93, or 0.10%, to 15,755.36; the S&P 500 was down 0.18, or 0.01%, to 1,775.32; the Nasdaq was up 2.57, or 0.06%, to 4,000.98.
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April 7, 2014
08:03 EDTAPCAnadarko price target raised to $115 from $96 at Argus
Argus increased its price target on Anadarko after the company settled its Tronox litigation for an amount at the low end of the penalty range projected by a U.S. bankruptcy court. The firm thinks the settlement was favorable, and reiterates a Buy rating on the shares.
07:26 EDTAPCAnadarko downgraded to Accumulate from Buy at KLR Group
KLR Group downgraded Anadarko to Accumulate saying the share rally following the Tronox settlement is an overreaction. The firm raised its price target for shares to $114 from $113.
06:41 EDTMSFTMicrosoft pushes for programming to rival Amazon, Netflix, Bloomberg says
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06:31 EDTAPCStocks with implied volatility below IV index mean; APC PLUG
Stocks with implied volatility below IV index mean; Anadarko (APC) 27, Plug Power (PLUG) 143 according to iVolatility.
06:18 EDTMSFTMicrosoft starts developing 4th-generation Surface, DigiTimes reports
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April 5, 2014
13:24 EDTQCOMQualcomm looks like a deal, Barron's says
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April 4, 2014
17:24 EDTAPCAnadarko rally may not be over, Barron's reports
Shares of Anadarko have rallied more than 15% over the past two sessions on the heels of the announcement that it settled fraud claims from its 2006 acquisition of Kerr-McGee, and they could rise even more, Barron's reports. Reference Link
17:12 EDTTROX, APCMarket finishes mixed as Nasdaq sells off into weekend
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16:30 EDTAPCOn The Fly: Closing Wrap
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11:21 EDTMSFTCourt reverses parts of lower court ruling in DataTern suit with Microsoft, SAP
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10:17 EDTKOCoke investment in Keurig cuts short interest but also M&A talk, Bloomberg says
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10:02 EDTAPCOn The Fly: Analyst Upgrade Summary
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08:14 EDTAPCAnadarko price target raised to $125 from $105 at BofA/Merrill
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07:53 EDTAPCAnadarko price target raised to $104 from $87 at Stifel
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07:43 EDTMSFTBaidu market leading search share in China rose in March, Marbridge Daily says
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07:28 EDTMSFTNew America Foundation to hold a forum
The New America Foundation holds a forum, "Implementing the PCAST Spectrum Sharing Report" with President Obama's Deputy CTO for Telecom Policy, Jason Furman, VP Medin of Google and Craig Mundie of Microsoft in Washington, D.C. on April 4 at 2 pm. Webcast Link
07:25 EDTAPCAnadarko price target raised to $120-$130 from $110-$120 at Wells Fargo
Wells Fargo increased its price target on Anadarko after the company announced that it had settled the Tronox case for a lower than expected amount. The firm thinks the stock's discount to its peers EOG Resources (EOG) and Noble Energy (NBL) is unjustified. Wells keeps an Outperform rating on Anadarko.
06:58 EDTKOCoke, investor battle over 2014 compensation plan, Reuters says
Wintergreen Advisers, which says it owns more than 2.5M shares of Coca-Cola on behalf of clients, intensified its critique of the proposed 2014 equity compensation plan, according to Reuters, citing letters from Wintergreen CEO David Winters. Winters is encouraging the soda-maker's board to pull the plan and replace it with a different one. Reference Link
06:57 EDTAPCAnadarko price target raised to $120 from $110 at Guggenheim
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05:47 EDTAPCAnadarko upgraded to Overweight from Underweight at JPMorgan
JPMorgan upgraded Anadarko (APC) two notches to Overweight from Underweight citing the company's settlement in the Tronox (TRNX) litigation. The firm views the settlement as positive for the stock and raised its price target for shares to $129 from $84.
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