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Stock Market & Financial Investment News

News Breaks
July 11, 2014
16:22 EDTS, SFTBF, FAST, RCII, RKUS, AMZN, WFC, RAI, LO, TMUS, DTEGYOn The Fly: Closing Wrap
Stocks on Wall Street were higher today, but were still lower for the week, as concerns in Europe have come back to the forefront of investors' minds. Today's modest bounce was not enough to make up for the declines seen in three of the other four sessions earlier in the week. ECONOMIC EVENTS: In the U.S., the June federal budget statement showed a surplus of $70.5B for the month, compared to analysts' forecast for a $79B surplus. COMPANY NEWS: Shares of Wells Fargo (WFC) slipped 32c, or 0.62%, to $51.49 after the largest mortgage lender in the U.S. posted earnings of $1.01 a share that matched analysts' consensus forecast. Wells did note that its credit performance continued to improve in Q2 and CEO John Stumpf said he is "optimistic about the future" for the bank... Lorillard (LO) advanced $2.92, or 4.63%, to $66.01, while Reynolds American fell 51c, or 0.82%, to $61.75, after the two cigarette makers confirmed that they are holding talks about a possible merger, as has been speculated by various media reports in recent weeks... In another update to an ongoing M&A story, Japan's Nikkei reported that Sprint's (S) corporate parent, Softbank (SFTBF), has reached an agreement to acquire T-Mobile (TMUS) from Deutsche Telecom (DTEGY), clearing the way for the long-speculated merger between the third and fourth largest wireless carriers in the U.S. Following the new story, Sprint shares finished the day up 30c, or 3.64%, to $8.55, while T-Mobile rose 62c, or 1.89%, to $33.50. MAJOR MOVERS: Among the notable gainers was Ruckus Wireless (RKUS), which advanced 87c, or 7.9%, to $11.88 after the FCC announced that it would allocate new funds to subsidize the launch of WiFi networks in schools and libraries. Also higher was Amazon.com (AMZN), which climbed $18.28, or 5.57%, to $346.20 after consulting firm ChannelAdvisor (ECOM) reported that the company's same-store sales growth had accelerated significantly in June compared with May. Among the noteworthy losers was Rent-A-Center (RCII), which dropped $3.18, or 10.94%, to $25.88 after the company warned that its revenue and earnings for Q2 will not meet expectations. Also lower were shares of industrial and construction supply retailer Fastenal (FAST), which fell $2.00, or 4.16%, to $46.15 after its Q2 revenue missed analysts' consensus view and the company reported plans to close 45 stores. INDEXES: The Dow was up 28.74, or 0.17%, to 16,943.81, the Nasdaq was up 19.29, or 0.44%, to 4,415.49, and the S&P 500 was up 2.83, or 0.14%, to 1,967.51.
News For S;TMUS;LO;RAI;WFC;AMZN;RKUS;RCII;FAST;SFTBF;DTEGY From The Last 14 Days
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July 10, 2014
09:36 EDTAMZNActive equity options trading on open
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07:32 EDTAMZNNews Corp. owned HarperCollins looks to bypass Amazon with new site, FT says
News Corp.'s (NWSA) book publishing unit, HarperCollins, relaunched its U.S. website and is now selling books directly to readers, putting it in competition with one of its largest retailers, Amazon.com (AMZN), reported Financial Times. Reference Link
06:36 EDTAMZNAmazon e-book plan leaves authors in dilemma, Bloomberg says
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06:28 EDTWFCOptions expected to be active
Options expected to be active: LL PBPB VNO FDO WFC COST ZUMZ UAL BA
06:09 EDTAMZNAmazon Web Services partners with Cloudian
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06:07 EDTLOLorillard implied volatility of 40 at upper end of index mean range
July 9, 2014
16:01 EDTAMZNOptions Update; July 9, 2014
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13:44 EDTAMZNNetflix wins video on demand rights to 'Zoo' series, Variety reports
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12:42 EDTRAI, LOLorillard, Reynolds deal still most likely outcome, says Wells Fargo
After it was reported that British American Tobacco (BTI) is potentially in talks to acquire the 58% of Reynolds American (RAI) that it doesn't own, Wells Fargo says it still believes a combination between Reynolds and Lorillard (LO) remains the most likely outcome. The firm thinks Susan Cameron was not brought back to run Reynolds to help facilitate a sale transaction to BAT. Wells recommends buying shares of Lorillard on any pullback should a deal between BAT and Reynolds be announced, as it thinks that ultimately a transaction to buy Lorillard would likely follow.
12:30 EDTRAIOn The Fly: Midday Wrap
Stocks on Wall Street were moderately higher at midday, helped in part by better than expected earnings from Alcoa (AA), solid monthly numbers from the airlines sector, and a bounce from the two day losing streak that had seen the S&P lose 1% and the Nasdaq pullback by more than 2%. The market has been unable to gather any upside momentum and has moved in a narrow range throughout the morning, as investors await the release of the Fedís FOMC minutes. ECONOMIC EVENTS: The minutes from the Federal Open Market Committee meeting held June 17-18 are scheduled to be released at 2:00 pm ET. In China, the producer-price index declined 1.1% from a year earlier, compared with a consensus forecast for a 1% drop. China's consumer-price index rose 2.3%, below projections for a 2.4% gain. COMPANY NEWS: Alcoa swung to a second-quarter profit of 18c a share on an adjusted basis, beating the consensus estimate of 7c a share, as its revenue also topped expectations. The aluminum producer, whose report is widely considered to mark the start of an earnings season, said its transformation is in "high gear" and that its cost position continues to improve. The stock rose 5% near midday following its report. MAJOR MOVERS: Among the notable gainers was AeroVironment (AVAV), which develops a portfolio of products and services for unmanned aircraft and efficient energy systems. The stock rallied 14% after the company reported better than expected fourth quarter results. Also higher was Reynolds American (RAI), which rose more than 2.5% after the U.K.'s Daily Mail reported that British American Tobacco (BTI), which currently holds a 42% stake in Reynolds, is speculated to be "on the verge" of buying out the remainder of its U.S. peer that it does not already own. Among the noteworthy losers was IT infrastructure technology provider Gigamon (GIMO), which was downgraded by at least five firms and plunged 32% after the company lowered its Q2 revenue guidance, citing challenges closing deals. Also lower following its earnings reports was specialty storage and organizational product retailer The Container Store (TCS), which fell 10%. INDEXES: Near midday, the Dow was up 36.86, or 0.22%, to 16,943.48, the Nasdaq was up 18.93, or 0.43%, to 4,410.39, and the S&P 500 was up 4.59, or 0.23%, to 1,968.30.
12:23 EDTRKUSMacronix files patent infringement complaints against Spansion in Germany
Macronix International announced that they have filed a new patent infringement complaint against Spansion (CODE) and certain of their customers in Germany for infringement of certain Macronix patents covering separate aspects of non-volatile memory devices, including flash memory. The named respondents include Harman Becker Automotive Systems GmbH, Ruckus Wireless (RKUS), and Polycom GmbH, according to Macronix. In addition to monetary compensation, Macronix requests that the court issues an injunction barring Spansion's infringing devices or products containing such components from further importation into and/or further commerce in Germany. This additional complaint follows those litigations in the U.S. against Spansion and/or its customers, and their respective decisions will be available in Q1 or Q2 of 2015, said Macronix.
11:25 EDTRAI, LOReynolds rises as BAT said to contemplate total takeover
Shares of cigarette manufacturer Reynolds American (RAI) are higher this morning following a report that British American Tobacco (BTI) is close to a deal to buy the stake in Reynolds it does not already own. WHAT'S NEW: The Daily Mail reported that British American Tobacco, which currently holds a 42% stake in Reynolds, is speculated to be "on the verge" of buying out the 58% of its U.S. peer that it does not already own. WHAT'S NOTABLE: A deal for Reynolds, whose brands include Kill, Camel, Winston and Salem, by British American Tobacco would stop any plans Reynolds might already have to buy Lorillard (LO), which makes Newport menthol cigarettes and electronic cigarettes. CNBC's David Faber said on July 3 that Reynolds was on track to buy Lorillard "within weeks," and added that Imperial Tobacco (ITYBY) would likely buy some of the divested assets as a result of the transaction. Faber noted at the time that British American Tobacco was likely to build a position in Reynolds. ANALYST REACTION: According to the Daily Mail, Citigroup has said it would be "advantageous" for British American Tobacco to acquire all of Reynolds, as its earnings per share would be boosted by 10%-13% and give it access to "one of the best" global e-cigarette platforms. The firm believes a total acquisition would allow British American Tobacco "total freedom" to deploy Reynolds' intellectual property on e-cigarettes. PRICE ACTION: Reynolds American shares are up $1.62, or 2.64%, to $62.93 in mid-morning trading. Meanwhile, British American Tobacco shares trading in New York are down 46c to $121.51 and Lorillard is up 40c to $63.33.
11:00 EDTAMZNWells says VMware growth could slow, downgrades shares
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09:35 EDTAMZNActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AA FB AMZN TSLA TWTR MU NFLX GG CELG
09:13 EDTLO, RAIOn The Fly: Pre-market Movers
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08:31 EDTAMZNVMware CEO sees EMC helping it remain independent, WSJ reports
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08:02 EDTTMUSSFX Entertainment, T-Mobile announce expansion of marketing partnership
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07:36 EDTWFCWells Fargo July weekly volatility increases into Q2 and outlook
Wells Fargo July weekly call option implied volatility is at 39, July is at 20, August is at 15, October is at 14; compared to its 26-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 11.
07:26 EDTRAI, LOBritish American rumored 'on verge' of deal to buy out Reynolds, Daily Mail says
British American Tobacco (BTI) is speculated to be "on the verge of a mega deal" to buy the 58% cigarette peer Reynolds American (RAI) that it does not already own, according to the Daily Mail. By doing so, it would stop any plans Reynolds might have to buy another company in the industry, Lorillard (LO), according to the report. Reference Link
06:24 EDTAMZNGoogle Cloud Storage offering 2 TB of free storage through partner, WSJ reports
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