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Stock Market & Financial Investment News

News Breaks
May 16, 2014
13:18 EDTVMW, CHK, DRI, RAX, ARCP, EMC, JWN, CSCO, RHT, GOOG, JCP, AMZNOn 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
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January 14, 2015
07:41 EDTGOOGGoogle risk/reward compelling, says SunTrust
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07:13 EDTAMZNAmazon could buy controlling stake in Blue Dart, Economic Times reports
Amazon is said to be in preliminary talks to buy a controlling stake in Blue Dart, a courier and integrated express package distribution company, The Economic Times reports, citing sources. One source says Amazon could buy a 75% stake in Blue Dart held by DHL Express Singapore, though it was noted that talks are currently at an early stage. Reference Link
06:40 EDTRHTRed Hat downgraded to Sell from Neutral at Goldman
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06:29 EDTGOOGCompanies reach new deal on worker hiring issue, Reuters says
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06:14 EDTGOOGMediaTek: Worldwide tablet shipments rise at slower pace, DigiTimes says
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06:12 EDTCHKChesapeake downgraded to Underweight from Equal Weight at Barclays
Barclays downgraded Chesapeake to Underweight and other names in the Exploration & Production space saying downside risk outweighs potential gains, even if oil prices recover. The firm reduced its commodity price deck assumptions and believes investor expectations for an oil price recovery could prove disappointing. It lowered its price target for shares to $13 from $18.
January 13, 2015
16:00 EDTAMZNOptions Update; January 13, 2015
iPath S&P 500 VIX Short-Term Futures up 66c to 34.42. Option volume leaders: AAPL JNJ CELG WFM TSLA TWTR AMZN GILD according to Track Data.
14:11 EDTAMZNAmazon.com climbs after Citi upgrades to buy
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13:56 EDTGOOGGM open to partnering with Google on self-driving cars, Time says
GM (GM) would be open to having a discussion with Google (GOOG) about jointly developing self-driving cars, GM Chief Technology Officer Jon Lauckner said, according to Time Magazine. Reference Link
12:32 EDTGOOGGoogle February volatility elevated as shares rally from 14-month low
Google January call option implied volatility is at 21, January weekly is at 22, February is at 28, March is at 23; compared to its 26-week average of 22 according to Track Data, suggesting large near tem price movement.
10:30 EDTAMZNAmazon.com tests $300, levels to watch
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10:17 EDTJCPOptions with decreasing implied volatility
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10:00 EDTAMZNOn The Fly: Analyst Upgrade Summary
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09:36 EDTGOOGActive equity options trading
Active equity options trading according to Track Data: AAPL AMD AA TWTR GILD C CELG TSLA GOOG
09:01 EDTAMZNAmazon Studios signs Woody Allen to create television series
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07:28 EDTAMZNAmazon says created, filled over 6,000 permanent jobs across EU in 2014
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07:26 EDTAMZNAmazon.com survey suggests solid growth trends, says RW Baird
Baird said their recent inventory survey for Amazon.com suggests solid growth trends in selection and marketplace. The firm sees the selection as a key growth driver for Amazon retail. Baird reiterated its Outperform rating and $340 price target on Amazon shares.
06:16 EDTAMZNAmazon.com upgraded to Buy from Neutral at Citigroup
Citigroup upgraded Amazon.com to Buy saying the risk/reward on shares is attractive below $300. Citi believes holiday data points look good for Amazon's Q4 results and that the retailer's gross margins will rise in 2015, reversing 2014's downward trend. The firm raised its price target for Amazon to $354 from $325 and thinks the stock has support around $300. Shares of the retailing giant closed yesterday down $5.52 to $291.41.
06:07 EDTAMZNAmazon sued for $25M by Durst Organization, Forbes reports
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05:46 EDTARCPStocks with implied volatility movement; ARCP WFM
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