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Stock Market & Financial Investment News

News Breaks
December 13, 2013
12:50 EDTQCOM, MSFT, KO, RH, TROX, APC, EAOn The Fly: Midday Wrap
Stocks on Wall Street were marginally higher at midday as the market looks to break its recent losing streak. The averages opened in positive territory but were unable to gather any upside momentum. The lone economic report of note, the producer price index, had little effect on the market. The averages have bounced around close to the flat line, but remain in positive ground at the lunch hour. Still, today's gains, if held into the close, will not be enough to stop the market from having 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: A number of large companies made announcements regarding executives with implications for their own succession planning and the plans of others. Coca-Cola (KO) announced plans to segment its North America business into two operating units: Coca-Cola North America and Coca-Cola Refreshments. With the change, 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. Also, chipmaker Qualcomm (QCOM) said its current Chief Operating Officer, Steve Mollenkopf, was promoted to Chief Executive Officer-elect. The announcement followed a report from Bloomberg last night that Mollenkopf was being considered among the candidates to replace Microsoft's (MSFT) departing CEO Steve Ballmer... Adobe Systems (ADBE) reported fourth quarter adjusted profit and revenue that beat expectations, but its earnings outlook for next fiscal year was significantly below analysts' consensus estimate. However, shares of the maker of Photoshop and other popular creative software advanced nearly 12% after the company said its expects to surpass 4M "Creative Cloud" subscribers by the end of fiscal year 2015. MAJOR MOVERS: Among the notable gainers was Electronic Arts (EA), which gained 6% after PiperJaffray analyst Michael Olson wrote that he was more upbeat on the video game industry following data that indicated that the video game industry's revenue had risen 7% in November. Also advancing was Tronox (TROX), which rose more than 6% after a court ruled that Anadarko Petroleum (APC) and its Kerr-McGee unit acted improperly in its 2005 spin-off of Tronox. The court found Anadarko liable and indicated an ultimate damages award of $14.5B, sending Anadarko shares down 7%. Also lower was Restoration Hardware (RH), which slid 3% in spite of reporting better than expected results and raising its fiscal year guidance, as the company also said its co-CEO has resigned and the shares were downgraded at PiperJaffray. INDEXES: Near midday, the Dow was up 27.77, or 0.18%, to 15,767.20; the Nasdaq was up 5.86, or 0.15%, to 4,004.26; and the S&P 500 was up 1.86, or 0.10%, to 1,777.36.
News For QCOM;MSFT;KO;RH;TROX;APC;EA From The Last 14 Days
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April 8, 2014
12:10 EDTQCOMIneda Systems says secures funding from Samsung, Qualcomm
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11:55 EDTMSFTNokia advances after securing Chinese approval for Microsoft deal
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10:03 EDTKOOn The Fly: Analyst Initiation Summary
1st United Bancorp (FUBC) initiated with a Neutral at Macquarie... Avista (AVA) initiated with a Fair Value at CRT Capital... Castlight Health (CSLT) initiated with a Neutral at Goldman... Cempra (CEMP) initiated with an Equalweight at Barclays... Coca-Cola (KO) initiated with a Buy at BTIG... JinkoSolar (JKS) initiated with an Overweight at Barclays... Lumenis (LMNS) initiated with a Buy at Goldman... National Retail Properties (NNN) initiated with an Overweight at Morgan Stanley... PepsiCo (PEP) initiated with a Buy at BTIG... Realty Income (O) initiated with an Underweight at Morgan Stanley... Teekay (TK) initiated with an Outperform at Raymond James... Twitter (TWTR) initiated with a Buy at Janney Capital... Realogy (RLGY) initiated with an Outperform at RBC Capital... Bristow Group (BRS) initiated with an Outperform at Clarkson Capital... Era Group (ERA) initiated with an Outperform at Clarkson Capital... Endurance (EIGI) initiated with a Buy at Craig-Hallum... Tutor Perini (TPC) initiated with an Overweight at Stephens... MannKind (MNKD) initiated with an Outperform at Brinson Patrick... TriCo Bancshares (TCBK) initiated with an Outperform at Fig Partners... Achaogen (AKAO) initiated with an Outperform at Cowen.
09:09 EDTMSFTOn The Fly: Pre-market Movers
HIGHER: BioScrip (BIOS), up 6.7% after stock was named as a stock pick and a potential takeover target by Oscar Schafer while speaking on CNBC... Nokia (NOK), up 5% after deal to sell substantially all of its Devices & Services business to Microsoft (MSFT) receives regulatory approval in China... (CTRP), up 4.6% after Bloomberg said, citing sources, that the company is in talks with Baidu-controlled (BIDU) Qunar (QUNR) about a partnership or a potential merger... Plug Power (PLUG), up 4.6% after CEO discusses plan to expand fuel cells to trucks in interview... FireEye (FEYE), up 2.5% following upgrade at Wedbush... Twitter (TWTR), up 2% following initiation of coverage with a Buy rating at at Janney Capital... Nike (NKE), up 1.75% after upgraded at Stifel. LOWER: Gigamon (GIMO), down 23% after lowering revenue outlook, shares downgraded at Pacific Crest... LivePerson (LPSN), down 3% after announcing resignation of EVP, Worldside Sales, shares downgraded at Benchmark... Cisco (CSCO), down 0.5% following downgrade to Hold from Buy at Wunderlich.
07:28 EDTKO, QCOMSecurity Innovation Network to hold a forum
IT Security Entrepreneurs Forum: ITSEF 2014 is being held in Mountain View, California on April 8-9.
06:31 EDTQCOM, MSFTMicrosoft, Mediatek to push Windows tablet in white-box market, DigiTimes says
Microsoft (MSFT) has been aggressively trying to persuade Mediatek to push Windows-based tablets in China's white-box market, reports DigiTimes. According to sources from the upstream supply chain, there is a high chance for a partnership, which would lead to current smartphone chip partner Qualcomm (QCOM) to face strong pressure. Reference Link
06:23 EDTAPCStocks with implied volatility below IV index mean; APC PLUG
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06:07 EDTMSFTMicrosoft investing in 'invisible user interface' technology, WSJ reports
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06:01 EDTMSFTMicrosoft ending support for Windows XP today, AP reports
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05:45 EDTMSFTNokia, Microsoft receive approval from China for Devices & Services transaction
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April 7, 2014
16:10 EDTKOCoca-Cola initiated with a Buy at BTIG
Target $48.
10:10 EDTMSFTAnalyst sees 'golden' opportunity after software stocks decline
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10:00 EDTAPCOn The Fly: Analyst Downgrade Summary
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09:00 EDTMSFTMicrosoft May volatility increases; shares near 14-year high into Q3
Microsoft April weekly call option implied volatility is at 29, April is at 23, May is at 25, July is at 21; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on April 24.
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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