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Stock Market & Financial Investment News

News Breaks
July 8, 2014
07:00 EDTS, VZ, TSprint tests discounted versions of Framily, individual plans, CNet reports
Sprint (S) is reportedly testing discounted versions of its Framily and individual plans, increasing competition with Verizon Wireless (VZ) and AT&T (T), CNet reports. The family data plan trials will be held in San Diego, Portland, and Las Vegas. Reference Link
News For S;VZ;T From The Last 14 Days
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August 19, 2014
12:42 EDTSOn The Fly: Midday Wrap
The market opened higher as it extended its gains from yesterday. Better than expected economic data on housing and consumer prices, as well as easing geopolitical tensions, has helped aid investor optimism. The market drifted higher throughout the morning with the Dow leading the way, followed by the Nasdaq, which is now near fourteen-year highs. The S&P is mostly higher, with the telecom services group being the lone sector showing losses, down just fractionally. ECONOMIC EVENTS: Housing starts for July rose to an annualized pace of 1.093M units, up from 0.945M units in June, and beating expectations for 0.963M units... The Consumer Price Index increased 0.1% overall, matching expectations. Less food and energy, the CPI was up 0.1%, which was also in-line with the consensus forecast. COMPANY NEWS: Shares of home improvement retailer The Home Depot (HD) are up more than 6% after the company posted better than expected second quarter results and raised its full year profit outlook... Shares of Sprint (S) are down 4% after Jefferies lowered its price target for Sprint shares to $4, saying it continues to see downside to estimates. MAJOR MOVERS: Shares of Skilled Healthcare (SKH) are up more than 20% after combining with Genesis HealthCare In 100% stock deal... Shares of cosmetics and fragrance company Elizabeth Arden (RDEN) are down 24% after the company's fourth quarter results came in well below analysts' consensus estimates. INDEXES: Near midday, the Dow was up 76.92, or 0.46%, to 16,915.66, the Nasdaq was up 12.96, or 0.29%, to 4,521.27, and the S&P 500 was up 8.49, or 0.43%, to 1,980.23.
11:25 EDTVZHTC unveils the HTC One for Windows
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10:01 EDTTAT&T confirms plan to deliver U-verse with AT&T GigaPower in Jacksonville
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09:38 EDTVZActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GILD TSLA CELG VLO VZ FB HD
07:39 EDTSSprint price target lowered to $4 from $7 at Jefferies
Jefferies lowered its price target for Sprint shares to $4 saying it continues to see downside to estimates. The firm expects a "muted response" to Sprint's new Family Pack pooled data plan and limited time promotion of waiving device access charges. It keeps an Underperform rating on the stock.
07:12 EDTS, T, VZFCC looks into telecom special access line rates, Reuters says
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06:46 EDTTAT&T technology routes calls to multiple devices, Re/code says
AT&T has developed technology that sends calls from one device to many other devices, Re/code reported yesterday. Reference Link
August 18, 2014
19:41 EDTSSprint CEO says regulators weren't set on industry consolidation, Bloomberg says
Sprint (S) recently dropped its bid seeking control of competitor T-Mobile (TMUS).
18:33 EDTT, VZ, SSprint introduces Sprint Family Share Pack data plan, doubles high-speed data
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18:04 EDTSSprint to offer $100/month 20GB shared data plan through 2015, Bloomberg reports
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11:06 EDTSSoftBank chooses Sharp as low-cost smartphone partner, WSJ reports
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08:47 EDTS, T, VZRaymond James to hold a summit
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August 15, 2014
10:28 EDTVZVerizon management to meet with Evercore
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06:15 EDTS, TSprint's new CEO to introduce 'disruptive' prices next week, Re/code reports
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August 14, 2014
16:54 EDTVZBerkshire Hathaway gives quarterly update on stakes
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14:13 EDTSOmega Advisors gives quarterly update on stakes
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12:46 EDTVZHayman Capital gives quarterly update on stakes
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12:01 EDTVZThird Point gives quarterly update on stakes
NEW STAKES: Rackspace (RAX), Finisar (FNSR), Amgen (AMGN), Ally Financial (ALLY), and AstraZeneca (AZN). INCREASED STAKES: Dollar General (DG) and Dow Chemical (DOW). DECREASED STAKES: FedEx (FDX), Hertz (HTZ), T-Mobile (TMUS) and Intrexon (XON). LIQUIDATED STAKES: Google Class A (GOOGL), Verizon (VZ) and Mondelez (MDLZ).
09:07 EDTVZ, T, SMorgan Stanley to hold a conference
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August 13, 2014
11:27 EDTTJDSU falls after outlook disappoints, analyst downgrades
Shares of JDSU (JDSU), a provider of equipment to telecommunications service providers, are sharply lower after the company's fourth quarter results and first quarter guidance were reported last night. Following the report, the stock was downgraded this morning at two Street research firms. WHAT'S NEW: Last night, JDSU reported fourth quarter adjusted earnings of 14c per share, beating the consensus forecast by 1c, on revenue of $448.6M, which topped the consensus $436.8M view. However, JDSU expects revenue to be $405M-$425M in its first quarter and sees Q1 EPS of 8c-12c, which fell short of consensus of about $441M and 14c, respectively. JDSU's President and CEO Tom Waechter said, "Looking ahead to fiscal 2015, we believe there are strong market drivers across our three business segments, and that we are well positioned with differentiated products and solutions to support our customers as they transition to Software Defined Networks, Network Function Virtualization and more dependency on cloud infrastructure. We continue to lead in our core network and anti-counterfeiting markets and I am pleased with the momentum we are building in our commercial lasers business on the strength of our highly differentiated fiber laser product line." ANALYST OPINION: Following the company's report, B. Riley analyst Dave Kang cut his rating on JDSU shares to Neutral from a Buy rating, citing near-term uncertainties in the North American telecom market. Kang pointed to two events contributing to that uncertainty, namely an architectural shift to SDN, or Software Defined Networking, and AT&T's (T) planned merger with DirecTV (DTV). The analyst acknowledged previously underestimating the potential impact of the SDN shift on the telecom equipment industry and noted that appears to be impacting JDSU's NSE business more than its optical component unit. Kang prefers Finisar (FNSR) over JDSU given the current environment, noting that about 70% of Finisar's sales come from the datacom sector. Kang lowered his price target on JDS Uniphase shares to $11.75 from $15.50. Piper Jaffray analyst Troy Jensen also downgraded JDSU following its report, lowering his rating on the stock to Neutral from Overweight. Jensen also said the company's worse than expected guidance indicates softer Telco spending and he believes JDSU will have trouble showing significant revenue acceleration even if the optical upgrade cycle starts to ramp up. Piper lowered its price target on the stock to $12 from $14. OTHERS TO WATCH: Other providers of telecom equipment include Ciena (CIEN) and Infinera (INFN). PRICE ACTION: In morning trading, shares of JDSU fell $1.12, or 9.4%, to $10.78. Meanwhile, shares of Finisar were down nearly 2% to $19.58, Ciena slipped 1.5% to $18.92 and Infinera was fractionally higher at $9.09.
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