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Stock Market & Financial Investment News

News Breaks
May 30, 2014
09:16 EDTGLUU, EXPR, MSFT, RTRX, BIG, BNNY, CRM, SPLK, BLOX, OVTIOn The Fly: Pre-market Movers
HIGHER: Salesforce.com (CRM), up 2.5% after announcing global strategic partnership with Microsoft (MSFT)... Big Lots (BIG), up 12.5% after reporting better than expected Q1 earnings... Retrophin (RTRX), up 30% following license agreement with Mission Pharmacal for Thiola and revised guidance... OmniVision (OVTI), up 10% after upgraded at Northland following better than expected Q4 earnings results... Veeva (VEEV), up 3.2% after reporting better than anticipated Q1 earnings results. LOWER: Infoblox (BLOX), down 34% after being downgraded at Deutsche Bank, Goldman, William Blair, Pacific Crest and Stephens following its Q3 report, Q4 guidance and CEO stepping down... Glu Mobile (GLUU), down 10% after its 8.6M share spot secondary offering priced at $3.50 per share. DOWN AFTER EARNINGS: Annie's (BNNY), down 16.8%... Express (EXPR), down 12%... Splunk (SPLK), down 7%.
News For RTRX;OVTI;CRM;MSFT;BLOX;BNNY;EXPR;SPLK;BIG;GLUU From The Last 14 Days
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May 14, 2015
09:34 EDTMSFTActive equity options trading on open
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08:21 EDTCRMSalesforce price target raised to $87 from $78 at Goldman
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06:21 EDTCRMSalesforce implied volatility of 57 at upper end of index
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May 13, 2015
16:01 EDTMSFTMicrosoft blog post refrains from using 'Windows Phone' branding
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15:04 EDTMSFTEarnings Watch: Cowen says Cisco better positioned than most believe
Cisco Systems (CSCO) is scheduled to report results of its third fiscal quarter after the market close on Wednesday, May 13, with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 53c on revenue of $12.07B, according to First Call. The consensus range for EPS is 52c-54c on revenue of $11.99B-$12.46B. Along with its last quarterly report, Cisco guided for Q3 EPS of 51c-53c and said it expects its revenue to be up 3%-5% in the quarter compared to the prior year. LAST QUARTER: On February 1, Cisco reported second quarter EPS of 53c, beating the consensus analyst forecast of 51c. Revenue came in at $11.94B, topping the $11.8B consensus forecast. At that time Cisco also raised its quarterly dividend to 21c from 19c. NEWS: On March 11, Cisco announced an extension of its cloud and data center relationship with Microsoft (MSFT) to include a new technology platform designed to accelerate service delivery and streamline the journey to the Intercloud for cloud providers. The new integrated solution combines Windows Azure Pack and Cisco Application Centric Infrastructure to help cloud providers "rapidly deliver hybrid cloud services while drastically simplifying operations and reducing costs," the company said. On May 4, Cisco announced that its board has appointed Chuck Robbins, who most recently served as Cisco's senior vice president of worldwide operations, as CEO, effective July 26. Current CEO John Chambers will assume the role of executive chairman and will continue to serve as the chairman of Cisco's board. STREET RESEARCH: On the day after the company's last report, research firm Piper Jaffray said it saw little downside risk in Cisco shares and believes Cisco is benefiting from a switching upgrade cycle that should sustain throughout 2015. The firm kept an Overweight rating on the stock with a $33 price target. Conversely, Citigroup said that despite the improving demand seen in Q2, Cisco shares remained fully priced at its levels at that time. Citi raised its price target for shares to $25 from $22, but kept a Sell rating on the name. The day after Cisco announced its CEO transition plan, Cowen said it thinks the company is better positioned and business is trending better than most investors believe, as evidenced by the timing of its CEO change. The firm, which believes Robbins is an excellent choice to replace Chambers, reiterated its Outperform rating and $35 price target on Cisco shares. Earlier this week, Pacific Crest upgraded Cisco to Outperform from Sector Perform, as the firm believes the April quarter results could signify the start of a multi-quarter recovery driven by new product cycles across switching, routing, wireless and servers. Pacific Crest, which thinks improving fundamentals and cloud momentum can drive multiple expansion in the second half of 2015 and into 2016, set a $36 price target for Cisco shares. PRICE ACTION: In afternoon trading ahead of Wednesday's report, Cisco shares are up fractionally to $29.30. In the last three months, Cisco shares have declined about 0.5%.
10:01 EDTMSFTOn The Fly: Analyst Upgrade Summary
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06:07 EDTMSFTMicrosoft upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Karl Keirstead upgraded Microsoft to Buy saying weak PC market sentiment is priced into the stock at current levels while Azure and Office 365 optimism is "just starting" to take hold. The analyst sees more positive than negative catalysts and raised his price target for Microsoft shares to $55 from $44. Shares of the computing giant closed yesterday down 2c to $47.35.
May 12, 2015
16:33 EDTCRMSalesforce, Sage announce strategic partnership, new small business platform
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11:38 EDTCRMLivePerson sinks to 52-week low after cutting fiscal 2015 outlook
Shares of LivePerson (LPSN), a provider of cloud-based digital engagement solutions, are sinking after the firm lowered its outlook for fiscal 2015. WHAT'S NEW: LivePerson yesterday reported first quarter adjusted earnings per share of 4c, in line with analysts' consensus estimates, on revenue of $59.8M, slightly below analysts' consensus estimates of $60.79M. LivePerson said it signed 147 deals in the quarter, including the addition of 30 new customers. Looking ahead to the second quarter, LivePerson forecast adjusted EPS of 0c-2c and revenue of $58.5M-$59.5M, well below the analysts' consensus estimates of 6c and $63.88M, respectively. WHAT'S NOTABLE: The company lowered its fiscal year 2015 adjusted EPS view to 10c-15c from 27c-32c, significantly trailing analysts' consensus estimates of 28c. LivePerson also cut its FY15 revenue outlook to $243M-$247M from $263M-$269M, also well below analysts' estimates of $264.36M. The company reduced reduced FY15 revenue guidance by $21M when comparing the midpoint of its updated guidance range to the midpoint of its previous guidance range. The adjustment reflects the impact of one large customer contract that ended, an increase in foreign exchange headwinds and a slightly slower start to the year than expected as the company intensified its focus on bringing LiveEngage to the market, the company said. LivePerson said it expects to record a $2.5M charge in Q2 related to cost-cutting move, which it described as "reprioritizing on areas showing the highest potential growth." The company believes its cost-savings initiatives will generate approximately $13M of expense savings in 2015. ANALYST REACTION: Credit Suisse this morning downgraded LivePerson to Neutral from Outperform and lowered its price target to $8 from $19. The firm said LivePerson was "forced" to lower revenue guidance for FY15 primarily due to the loss of AT&T (T) as a pay-for-performance chat customer, as well as from a slow sales start and FX. The firm said the ability of LivePerson to transition its large customer base to LiveEngage 2.0 will take longer than previously estimated. PRICE ACTION: In late morning trading, LivePerson fell $1.16, or 12.26%, to $8.30 on more than five times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $8.10. Including today's pull back, the shares have lost approximately 15% over the past 12 months. OTHERS TO WATCH: Other companies offering cloud-based digital engagement solutions include eGain (EGAN), down 1.2%, Zendesk (ZEN), down 4.05%, and Salesforce.com (CRM), up 0.2%.
10:27 EDTMSFTAppeals court upholds InterDigital loss in patent fight with Microsoft, ZTE
The U.S. Court of Appeals for the Federal Circuit affirmed the final determination of the International Trade Commission finding no violation of Section 337 of the Tariff Act was committed by Microsoft (MSFT) and ZTE related to patents held by InterDigital (IDCC). The patents at issue in the case are directed to cellphone technology, and in particular, code division multiple access networks, according to the appeals court ruling.
06:02 EDTCRMSalesforce implied volatility of 64 at upper end of index
May 11, 2015
16:31 EDTRTRXRetrophin reports Q1 EPS (4c) vs. (75c) last year
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13:17 EDTMSFTMicrosoft invests in subsea cables to connect datacenters globally
Microsoft (MSFT) announced in a blog post that over the past nine months, "Microsoft has been significantly investing in subsea and terrestrial dark fiber capacity by engaging in fiber partnerships that span multiple oceans and continents. And today, our connections across the Atlantic and Pacific just got stronger.We announced deals with Hibernia and Aqua Comms, in which Microsoft is investing in a cable with each company to connect Microsoft’s datacenter infrastructure from North America to Ireland and on to the United Kingdom. These cables will help deliver data at higher speeds, with higher capacity and lower latency for our customers across the globe. Additionally, we joined a consortium comprised of China Mobile (CHL), China Telecom (CHA), China Unicom (CHU), Chunghwa Telecom (CHT), KT Corporation (KT) with TE SubCom as the cable supplier. As part of our participation in the consortium, Microsoft will invest in its first physical landing station in the US connecting North America to Asia. The New Cross Pacific Cable Network will provide faster data connections for customers, aid Microsoft in competing on cloud costs, all while creating jobs and spurring local economies. The goal of our expansions and investments in subsea cables is so our customers have the greatest access to scale and highly available data, anywhere." Reference Link
13:15 EDTGLUUTencent Holdings reports 10.39% stake in Glu Mobile
10:03 EDTCRMSalesforce to hold a press event
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10:00 EDTCRMSalesforce to hold a meeting
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09:37 EDTMSFTActive equity options trading on open
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07:06 EDTCRMSalesforce removed from Best Ideas List at Morgan Stanley
Morgan Stanley removed Salesforce.com from the Best Ideas List and maintained its Buy ratting and $80 price target. The firm said Salesforce.com's secular growth and margin expansion remain in place but shares are trading on an acquisition premium and risk/reward is balanced near-term. The firm views an acquisition as unlikely and said the sheer size would make it extremely complicated, with few bidders.
06:11 EDTMSFTStocks with implied volatility below IV index mean; LNKD NFLX
Stocks with implied volatility below IV index mean; LinkedIn (LNKD) 28, Netflix (NFLX) 26 according to iVolatility.
06:04 EDTCRMSalesforce removed from Best Ideas List at Morgan Stanley
Morgan Stanley removed Salesforce from its Best Ideas list saying the near-term risk/reward is more balanced with shares trading at an "acquisition premium." The firm keeps an Overweight rating on the name with an $80 price target.
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