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Stock Market & Financial Investment News

News For RIMM;MSFT;GOOG;SNE;SSNLF;AAPL From The Last 14 Days
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February 4, 2016
08:59 EDTGOOG, MSFTAmazon.com Alphabet Microsoft should get huge cloud boost, says Pacific Crest
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05:52 EDTAAPLVirnetX Holding volatility elevated into winning $625M verdict against Apple
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05:52 EDTGOOGGoogle bringing free gigabit internet to public housing across the U.S.
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05:13 EDTAAPLApple implied volatility of 27 at lower end of index mean range
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February 3, 2016
18:16 EDTAAPLVirnetX wins $625.6M in patent infringement case against Apple
VirnetX (VHC) won a $625.6M verdict today in favor of in a patent infringement lawsuit against Apple (AAPL), marking the second time a federal jury has found Apple liable for infringing VirnetX's patented technology. The verdict announced Feb. 3 in the U.S. District Court for the Eastern District of Texas in Tyler includes royalties awarded to VirnetX based on an earlier patent infringement finding against Apple that law firm Caldwell Cassady & Curry also won for VirnetX. The jury found that Apple's modified VPN On Demand, iMessage and FaceTime services infringed VirnetX's patents and that Apple's infringement was willful.
17:56 EDTAAPLVirnetX spikes 74% after Apple ordered to pay damages in patent dispute
17:39 EDTAAPLApple ordered to pay VirnetX $625M in patent ruling, Apple Insider says
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16:00 EDTMSFT, AAPLOptions Update; February 3, 2016
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13:43 EDTGOOGGoogle to start testing autonomous cars near Seattle, WSJ reports
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13:31 EDTGOOGJohn Giannandrea to become Google's new search chief, Bloomberg reports
John Giannandrea, an executive who has worked on machine intelligence efforts at Google, will become the company's new search chief, Bloomberg reports. Earlier today, current head of search Amit Singhal announced his retirement. Reference Link
12:41 EDTGOOGGoogle's head of search Singhal to leave company, effective February 26
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12:24 EDTGOOGYouTube Red to premiere original content February 10
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11:33 EDTMSFTCiti slashes PC outlook, expresses caution on related stocks
Citi significantly lowered its 2016 PC sales estimates, citing recent negative data points. In conjunction with the call, the firm lowered its estimates for three companies whose results are significantly affected by PC sales: HP Inc. (HPQ), Marvell (MRVL) and Intersil (ISIL). WHAT'S NEW: Citi analyst Jim Silva now expects PC sales to drop 6% this year, down from his previous estimate of a 2% decline. Recent data points indicate that demand for PCs has dropped significantly so far this year, while inventories are above normal, the analyst explained. Constrained budgets and macro concerns are restraining demand for PCs, Silva believes. Meanwhile, "there is not enough evidence" to conclude that the launch of Microsoft's (MSFT) Windows 10 will be a positive catalyst for PC sales this year, Silva said. Citing his view of PC trends, along with increased competition in the printer space, Silva lowered his 2016 EPS estimate for HP to $1.53 from $1.64. Statements by other printer makers, including Xerox (XRX) and Canon (CAJ), suggest that HP's margins on printers will "come under additional pressure," the analyst believes. He lowered his price target on the name to $10.75 from $14.50 and expects the stock to remain range-bound until analysts reduce their estimates further or its end markets improve. Intersil has 20% exposure to the PC market and the sales of its products related to computing are still strongly correlated with PC sales, Citi analyst Atif Malik stated. As a result, the company will face revenue headwinds throughout this year, stated the analyst. Malik, who expects the company's 2016 and 2017 EPS to come in below consensus levels, downgraded the stock to Sell from Neutral and set an $11.50 price target on the shares. Estimating Marvell's PC exposure at about 60%, Malik lowered his 2016 EPS estimate for the company to 42c from 48c and kept a Sell rating on the name. WHAT'S NOTABLE: Hedge fund Starboard Value disclosed this morning that it had bought a 6.7% activist stake in Marvell. The hedge fund said the shares are "undervalued" and The Wall Street Journal, citing sources familiar with the situation, said Starboard is betting the company can its boost margins by cutting costs, perhaps exiting its mobile device business. PRICE ACTION: In late morning trading, HP Inc. fell 3.3% to $9.55, Marvell rose 1.25% to $8.78 and Intersil dropped 4.4% to $11.93.
11:09 EDTMSFTMaxim says sell Tableau before it goes the way of Netscape
Shares of Tableau Software (DATA) are declining in late morning trading after Maxim initiated coverage with a Sell rating. NEXT NETSCAPE: Maxim analyst Nehal Chokshi started Tableau Software with a Sell rating and $70 price target, saying his channel checks indicated that Microsoft (MSFT) "has the pieces in place to render Tableau the next Netscape." Chokshi doesn't see Tableau's effective $400/year/user average selling price as sustainable, considering Microsoft's Power BI "matches the ease of use and functionality of Tableau" at an average selling price of $123/user/year. Further, since Tableau threatens Microsoft's cash cow, Office, Microsoft and its CEO, Satya Nadella, will be "highly motivated" to execute and leave Tableau as a "casualty." PRICE ACTION: Tableau is off its lows of the day, but is still trading down over 2% near $77 per share. The stock fell as low at $73.37 earlier in the session.
09:40 EDTGOOGGoogle to support early Qualcomm server chips, Bloomberg says
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09:37 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL BAC FB YHOO GILD CMG NFLX GOOGL QCOM
09:18 EDTMSFTCitigroup to hold an analyst/industry conference call
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08:58 EDTMSFTTableau initiated with a Sell at Maxim
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07:48 EDTMSFTMicrosoft confirms purchase of SwiftKey in blog post
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07:41 EDTMSFTCiti lowers 2016 PC estimates to down 6% from down 2%
Citi analyst Jim Suva says recent data points indicate above normal PC inventories and "materially below seasonal demand" in early 2016. The analyst cut his 2016 PC estimates to down 6% from down 2%, well below IDC's estimate of down 3%. Suva believes there is a lack of evidence to suggest that Microsoft's (MSFT) Windows' 10 launch will drive a PC refresh in 2016. The analyst cut his estimates and price target for HP Inc. (HPQ) and kept a Neutral rating on the name.
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