New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 16, 2014
13:18 EDTEMC, JWN, CSCO, RHT, GOOG, JCP, AMZN, VMW, CHK, DRI, RAX, ARCPOn The Fly: Midday Wrap
Stocks on Wall Street were slightly lower at midday as the market looks set to end the week on a low note and extend its two day losing streak. The major averages opened relatively quietly with options ready to expire and have remained in a narrow range throughout the morning part of the session. The market barely reacted to the day’s economic data, which included housing starts and permits that were well above expectations. The first readout of the University of Michigan consumer confidence index for the month, however, was below expectations. ECONOMIC EVENTS: In the U.S., housing starts rose 13.2% to a 1.07M unit pace in April, which was well above expectations. The number of building permits issued also beat the consensus forecast, rising 8% to a pace of 1.08M. The University of Michigan consumer confidence index fell to 81.8 in the first May release, falling short of expectations for a modest rise to 84.3. COMPANY NEWS: Shares of Rackspace (RAX) surged 20% higher after the cloud computing company disclosed last night that it had been approached by a number of other companies that expressed interest in exploring strategic relationships and that it had hired Morgan Stanley (MS) to help evaluate the proposals and explore its options. In a note to investors earlier today, Credit Suisse wrote that Rackspace's cloud offerings would be attractive to multiple companies, including Cisco (CSCO), Hewlett-Packard (HPQ), and Dell. Piper Jaffray said in its own note that the list of potential buyers for Rackspace is "extensive," also listing Cisco, but adding Google (GOOG), Amazon.com (AMZN), EMC (EMC), VMware (VMW) and Red Hat (RHT) as other potential suitors. MAJOR MOVERS: Among the notable gainers was Nordstrom (JWN), which was up nearly 13% after the company reported first quarter earnings per share that exceeded expectations and said it will seek a partner for credit card receivables. Also rising following its better than expected quarterly sales report was another retailer, J.C. Penney (JCP), whose shares rose 14%. Among the noteworthy losers was Chesapeake Energy (CHK), which fell almost 5% after announcing that it will spin off its Oilfield Services business, among other asset moves, and lowered its FY14 production, operating cash flow and dividend payments outlooks. Also lower were shares of restaurant operator Darden (DRI), which slipped 4% after agreeing to sell its Red Lobster business and certain other assets, such as real estate, to Golden Gate Capital for $2.1B in cash. American Realty (ARCP) then announced an approximate $1.5B sale-leaseback transaction for over 500 Red Lobster restaurant properties to be completed in conjunction with Golden Gate Capital's acquisition. INDEXES: Near midday, the Dow was down 17.40, or 0.11%, to 16,429.41, the Nasdaq was down 13.31, or 0.33%, to 4,055.99, and the S&P 500 was down 1.85, or 0.1%, to 1,869.00.
News For RAX;AMZN;CSCO;DRI;JCP;JWN;CHK;GOOG;EMC;VMW;RHT;ARCP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | all recent news | >>
March 17, 2015
14:43 EDTAMZN, VMWVMware award from DISA canceled after protest, siliconANGLE reports
On March 12, the Defense Information Security Agency, or DISA, reversed a decision to award VMware (VMW) with a $1.6B contract following protests by Amazon Web Services (AMZN), Citrix Systems (CTXS), and others, reported siliconANGLE. A government posting noted that "Amendment 0002 is issued to cancel the request for proposal to further analyze the government's needs." Reference Link
14:13 EDTGOOGMorgan Stanley questions GM capital allocation plan
Subscribe for More Information
11:23 EDTAMZNApple willing to share TV data to attract programming partners, NY Post reports
Subscribe for More Information
10:00 EDTCHKOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
09:27 EDTGOOGApple plans to allow trade-ins of Android, BlackBerry devices, Bloomberg says
Subscribe for More Information
09:13 EDTCHKChesapeake downgraded to Sell from Neutral at Global Hunter
09:07 EDTAMZN, GOOGDISH's Sling TV launches on Xbox One
Subscribe for More Information
09:05 EDTAMZN, GOOGMicrosoft Band now available at Best Buy, Target, Amazon, Re/code reports
Subscribe for More Information
07:42 EDTAMZN, GOOGBoeing may produce satellite for tech giants, Reuters says
Subscribe for More Information
07:12 EDTVMWDeutsche Messe to hold a conference
CeBIT 2015 is being held in Hannover, Germany on March 15-20.
06:57 EDTJCPJ.C. Penney CMO leaves company, effective immediately, AdAge reports
Subscribe for More Information
06:50 EDTRAXRackspace volatility at low end of historic range
Subscribe for More Information
06:37 EDTGOOGAfter losing marketshare, Google now asks Firefox users to switch, BI says
Subscribe for More Information
05:57 EDTGOOGChina vendors to ship 50M Androids with fingerprint sensors, DigiTimes reports
China vendors is expected to ship 50M Android (GOOG) smartphones with fingerprint sensors in 2015, reports DigiTimes. According to sources at Taiwan-based IC backend service companies, Android smartphone vendors have adopted sliding-type fingerprint sensors, which are more competitive in pricing compared to press-type sensors used by Apple (AAPL). Reference Link
March 16, 2015
16:00 EDTAMZNOptions Update; March 16, 2015
Subscribe for More Information
14:13 EDTGOOGApple to offer Android users rebates to switch to iPhones, 9to5Mac says
Subscribe for More Information
10:44 EDTAMZNNetflix retreats after cut to sell on competition, cost concerns
The shares of Netflix (NFLX) are falling after research firm Evercore ISI downgraded the stock to Sell from Hold. Increased competition will force the company to increase its investments and the return from those investments is uncertain, the firm contends. WHAT'S NEW: In the U.S., technological advancements are enabling content providers to sell their programming to a wider range of Internet video distributors, Evercore ISI analyst Ken Sena wrote in a note to investors earlier today. Moreover, content providers themselves are now able to stream more of their programming online and obtain higher profits from doing so, Sena reported. The analyst noted that Apple (AAPL) recently obtained a three month exclusive deal to stream content form Time Warner's (TWX) HBO Now, while Yahoo (YHOO), Amazon (AMZN), and Hulu (DIS, CMCSA, NWSA) are all reportedly interested in obtaining streaming rights to "Seinfeld." Netflix's international expansion will not be sufficient to offset the increased competition, especially because foreign viewers are likely to watch less TV and be less interested in paying for TV content, the analyst believes. Furthermore, Netflix will face more competition from other Internet TV services overseas than in the U.S., according to Sena, who cut his 2015 consolidated operating income estimate for the company by 26% to $381M from $517M previously. In addition to cutting his rating, Sena lowered his price target on the shares to $380 from $450. PRICE ACTION: In early trading, Netflix sank $16, or 3.7%, to $422.
10:21 EDTCSCOVicor says SynQor power converter claims held to be invalid
In a unanimous decision, the U.S. Court of Appeals for the Federal Circuit in Washington, D.C., on March 13 issued a ruling invalidating key claims of a power converter patent asserted by SynQor Inc. against Vicor Corporation (VICR) and Cisco Systems (CSCO) in litigation currently pending in the United States District Court for the Eastern District of Texas. Reversing a decision of the United States Patent and Trademark Office, the Federal Circuit agreed with Vicor that prior art anticipated certain claims of SynQor's 7,072,190 patent and ordered the USPTO to reconsider the obviousness of the remaining claims. Commenting on the decision, Dr. Patrizio Vinciarelli, Vicor's CEO, stated, "The Federal Circuit decision turns the tables on SynQor, which resorted to attacking competitors and customers with bogus intellectual property after failing in the marketplace with its inferior bus converters. As a company founded on innovation, Vicor respects legitimate IP interests of others. However, Vicor will confront abusive IP litigation where, as here, illegitimate claims are asserted to suppress competition from superior products known not to infringe." Vicor has asserted counterclaims against SynQor. In its counterclaims, Vicor seeks damages for unfair and deceptive trade practices and tortious interference engaged in by SynQor as part of its campaign to discourage customers from using Vicor's superior products so as to monopolize the bus converter market. Vicor will hold SynQor, and its principals, accountable for damages they have intentionally caused.
07:32 EDTCSCOUBM Tech to hold a conference
Enterprise Connect 2015 is being held in Orlando, Florida on March 16-19.
06:09 EDTCSCOStocks with implied volatility below IV index mean; CSCO QCOM
Subscribe for More Information
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use