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Stock Market & Financial Investment News

News For SNE;CAT;HES;BBY;KERX;FURX;JOSB;ROP;MW;RPRX;BBBY From The Last 14 Days
Check below for free stories on SNE;CAT;HES;BBY;KERX;FURX;JOSB;ROP;MW;RPRX;BBBY the last two weeks.
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July 24, 2014
17:17 EDTKERXKeryx up 3% in after hours trading after Zerenex meets phase 3 primary end-point
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12:32 EDTCATOn The Fly: Midday Wrap
Stocks on Wall Street were slightly higher at midday amid another wave of earnings reports, headlined by Facebook (FB), Caterpillar (CAT), General Motors (GM) and Ford (F). The market has moved in a narrow range as investors try to digest the bevy of earnings reports that were released last night and this morning. The market has also had to battle a negative economic report on new home sales, which not only disappointed in June but saw the prior month revised lower as well. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 19K to 284K in the week ended July 19. While the BLS said there were no special factors in the claims data, they also reminded that the numbers can be very volatile at this time of year due in part to auto shutdowns. Markit's flash U.S. PMI for July dipped 1 point to 56.3 from 57.3 in June. June new home sales fell 8.1% to a 406K rate, which was worse than expected, and May's data was downwardly revised. In China, HSBC's flash manufacturing Purchasing Managers' Index rose to 52 in July from 50.7 a month earlier. COMPANY NEWS: Facebook achieved a new all-time high and its share price eclipsed $76, a level that was more than double the price of its initial public offering, after its revenue and profits beat expectations. After the report a number of Wall Street analysts hiked their price targets on the stock, with Jefferies and Topeka both raising their targets on the social network operator's stock to $100... Shares of General Motors declined more than 3% after its earnings per share, excluding special items, missed consensus expectations and its revenue also fell short of the analysts' forecast. The company took a $400M special charge related to its ignition switch compensation program, but cautioned that there is no cap on this program and it is possible the total cost could increase by another $200M. Also, GM recorded a non-cash pre-tax special charge of about $900M in the second quarter for the estimated costs of future possible recalls for "up to the next 10 years on 30M GM vehicles on the road today." In contrast, Ford reported earnings per share, excluding special items, and revenue that beat expectations and its stock rose 1%... Caterpillar dropped over 3% after its quarterly revenue missed expectations and it narrowed its outlook for full-year revenue. However, the heavy machine maker's earnings did beat the consensus forecast and it raised it fiscal year profit outlook. MAJOR MOVERS: Among the notable gainers was Sodastream (SODA), which jumped nearly 20% after Bloomberg said the home beverage system maker is in talks with an investment firm on deal that would make it a private company and value it at about $828M, or $40 per share. Also higher following their earnings reports were Under Armour (UA), which rose 15%, and Dr. Pepper Snapple (DPS), which gained 5%. Among the noteworthy losers following their earnings reports were homebuilder DR Horton (DHI), which fell 10%, online travel company TripAdvisor (TRIP), which dropped 9%, and semiconductor chip maker Qualcomm (QCOM), which slid 6%. Also lower was review service operator Angie's List (ANGI), which plunged 19% after reporting second quarter losses per share and revenue that were worse than expected, prompting a number of downgrades of its stock by Wall Street analysts. INDEXES: Near midday, the Dow was up 8.25, or 0.05%, to 17,094.88, the Nasdaq was up 6.10, or 0.14%, to 4,479.80, and the S&P 500 was up 2.98, or 0.15%, to 1,989.99.
11:14 EDTCATCaterpillar says Q3 likely to be weakest profit quarter of year
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09:32 EDTSNESony to raise production capacity for stacked CMOS image sensors, DigiTimes says
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09:16 EDTCATOn The Fly: Pre-market Movers
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07:53 EDTCATCaterpillar down 1.3% after Q2 earnings, guidance revision
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07:43 EDTCATCaterpillar Financial reports Q2 revenue $728M
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07:38 EDTCATCaterpillar sees $2.5B stock repurchase in Q3
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07:37 EDTCATCaterpillar raises FY14 EPS view to $6.20 from $6.10, consensus $6.23
Narrows FY14 revenue view to $54B-$56B from $53.2B-$58.8B, consensus $56.23B. Most of the change in the mid-point of the range is in Construction Industries and reflects weaker sales in China, the CIS and in the Africa/Middle East region. The expectation for restructuring costs in 2014 is now about $400M—the bottom end of the $400M-$500M range that was previously expected. The company said, "After a sizable drop in sales and revenues in 2013, our ongoing forecasting process has, since the third quarter of last year, pegged 2014 as a roughly ­flat year for sales. That's still the case. There have been plusses and minuses, but they've both been relatively muted in the context of our total sales and revenues. While we'd certainly like to see improvement in economies around the world, and more specifically, the mining industry, the stability that we've seen this year has helped. Even though sales and revenues are relatively flat compared to last year, we've improved the bottom line with better execution and continued focus on costs."
07:34 EDTCATCaterpillar raises FY14 EPS view, narrows FY14 revenue outlook
07:33 EDTCATCaterpillar reports Q2 EPS $1.57, consensus $1.53
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July 23, 2014
15:30 EDTCATNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Ford (F), consensus 36c; General Motors (GM), consensus 58c; Potash (POT), consensus 46c; Caterpillar (CAT), consensus $1.52; 3M (MMM), consensus $1.91; Union Pacific (UNP), consensus $1.43; Bristol-Myers Squibb (BMY), consensus 44c; Eli Lilly (LLY), consensus 65c; Celgene (CELG), consensus 89c; Precision Castparts (PCP), consensus $3.35; Raytheon (RTN), consensus $1.59; Noble Energy (NBL), consensus 79c; Hershey (HSY), consensus 76c; Southwest Airlines (LUV), consensus 61c; Boston Scientific (BSX), consensus 19c; JetBlue (JBLU), consensus 19c.
12:59 EDTCATEarnings Preview: Caterpillar shares near 52-week high ahead of Q2 report
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10:47 EDTCATCaterpillar July weekly volatility elevated into Q2 and outlook
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10:44 EDTCATCaterpillar read-through modest negative for Cummins, says Wells Fargo
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10:28 EDTCATCaterpillar reports 3-month end June retail machine sales down 10%
Caterpillar disclosed in a regulatory filing earlier that its total retail sales of machines for the 3-month rolling period ended June were down 10%. In the rolling period, retail machine sales were down 30% in Asia/Pacific, down 21% in EAME, down 18% in Latin America and up 14% in North America. Total energy & transportation retail sales for the 3-month rolling period were down 10%.
10:20 EDTSNESony investing to increase stacked CMOS image sensor production
Sony (SNE) announced earlier that it plans to invest in Nagasaki TEC and Kumamoto TEC from the second half of FY14 through the first half of FY15 to increase its production capacity for stacked CMOS image sensors. This investment is primarily intended to reinforce Nagasaki TEC's layering process production capabilities, as well as Kumamoto TEC's mastering process facilities. The current investment is expected to enable Sony to complete subsequent stages of production, including the layering process, at Nagasaki TEC on semiconductor chips that have undergone the mastering process at Yamagata TEC, providing Sony with a fully integrated production system for stacked CMOS image sensors. This investment forms part of Sony's mid - to long-term plan to increase its total production capacity for image sensors to approximately 75K wafers per month and is expected to increase the current capacity of approximately 60K wafers per month to approximately 68K wafers per month in August 2015. Sony intends to bolster its manufacturing capacity for stacked CMOS image sensors, and further strengthen its integrated supply operations, and to thereby reinforce its leading market position. The total investment amount is expected to be approximately Y35B to be carried out in FY14 and in FY15. Of this, the amount to be invested in FY14, or approximately Y9B, was included in the forecast of capital expenditure for semiconductors in the current fiscal year of approximately Y65B announced on May 14. Note that OmniVision Technologies (OVTI) designs, develops and markets integrated and semiconductor image-sensor devices.
10:02 EDTMWOn The Fly: Analyst Initiation Summary
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08:53 EDTMWMen's Wearhouse reinstated with a Buy at Goldman
Target $72.
July 22, 2014
16:04 EDTSNESkullcandy names David Raffone as Chief Sales and Revenue Officer
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06:17 EDTSNEGlobal notebook shipments to increase 4.3% in Q3, DigiTimes Research says
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July 21, 2014
10:45 EDTBBYAnalysts roll out coverage on GoPro with differing views
Shares of GoPro (GPRO) are climbing after a number of analysts initiated coverage of the stock with different outlooks. GoPro develops mountable and wearable cameras. BULLISH TAKE: JPMorgan analyst Paul Coster initiated coverage of GoPro with an Overweight rating. GoPro is gaining share in the digital camcorder market, and it has begun to penetrate "active lifestyle" markets, which are a much larger opportunity for the company, Coster believes. The company could ship 10M of its products for use by active lifestyle participants annually, the analyst estimated. In a best case scenario, the company could also sell low-cost devices for the mass market, according to Coster. However, GoPro will face competition from major companies, including Google (GOOG) and possibly Apple (AAPL) in this market, warned Coster, who set a $51 price target on GoPro. Also initiating coverage of the name with an Overweight rating was Piper Jaffray analyst Sean Naughton. GoPro is in the early stages of growth, as the company's user base is poised to expand beyond extreme sports enthusiasts, the analyst forecast. The company has a competitive advantage over other brands, which should enable it to maintain strong profitability, added Naughton, who set a $48 price target on the shares. BEARISH TAKE: Stifel analyst Jim Duffy started coverage of GoPro with a Hold rating. The company's three year growth outlook is compelling, but the stock is fully valued, the analyst believes. The company faces a number of risks, including competition in the image device market and the possibility that its relationship with key channel partners, including Best Buy (BBY), could be disrupted, the analyst wrote. Sales to Best Buy accounted for 17% of GoPro's revenue in fiscal 2013, Duffy reported. After GoPro surged following its initial public offering, the stock is likely to advance by only limited amounts, wrote Barcalys analyst Joseph Wolf, who initiated coverage of the shares with an Equal Weight rating. The stock could fall to $30 if the company is unable to increase its hardware sales or make progress in its efforts to develop a media business, the analyst warned. He set a $45 price target on the shares. PRICE ACTION: A total of seven analysts rolled out coverage today on GoPro, according to The Fly’s research, with only two recommending the stock with buy-equivalent ratings. Shares of the camera marker are up 3%, or $1.10, to $42.53 in morning trading.
09:22 EDTCATCaterpillar confident in chances in tax suit, WSJ says
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07:41 EDTCATWhistleblowers allege bogus repairs by Caterpillar unit, WSJ says
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06:23 EDTSNEUpscale Sony Walkman enjoying a comeback in Japan, WSJ reports
Sony's new $700 Walkman, which is aimed at premium buyers, is enjoying a small comeback, the Wall Street Journal reports. The company says the ZX1, which houses 128 gigabytes of storage, is selling well in Japan. Reference Link
July 20, 2014
11:58 EDTCATCaterpillar, five others should benefit from global recovery, Barron's says
Caterpillar (CAT), Teradata (TDC), Kennametal (KMT), Capital One Financial (COF), T. Rowe Price Group (TROW), and Chesapeake Energy (CHK) are all relatively cheap and should benefit from global recovery, Barron's contends in its cover article. Reference Link
July 18, 2014
07:22 EDTSNETotal June video game sales up 24%, spending on games down 3%, VentureBeat says
Sales of physical video game products, including consoles, games and accessories, rose 24% from the same month of last year to $736.4M in the U.S. in June, reported VentureBeat, citing NPD Group data. Spending on games slid 3% year-over-year to $286.8M, the report noted, with NPD stating that sales of launch titles this June "did not compare favorably" to those launched in 2013. The report also noted that PS4 again outsold Xbox One in the month. Publicly traded companies in the video game space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME), Take-Two (TTWO), Sony (SNE) and Microsoft (MSFT). Reference Link
06:06 EDTSNEXbox Live, PlayStation Network users report connectivity issues, Re/code says
Xbox Live (MSFT) and PlayStation Network (SNE) users yesterday reported problems with connecting to their online services, Re/code reports. The connectivity issues could be connected to the start of a beta period for the upcoming Bungie-Activision (ATVI) game Destiny, the publication says. Reference Link
06:06 EDTSNESony confirms PlayStation4 is top selling next-gen consol in June for U.S.
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July 17, 2014
10:41 EDTBBBYBed Bath & Beyond announces $1.1B accelerated share repurchase
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10:00 EDTBBBYOn The Fly: Analyst Initiation Summary
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July 16, 2014
17:25 EDTBBBYBed Bath & Beyond initiated with a Neutral at Nomura
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13:28 EDTRPRXRepros Therapeutics trial endpoints should be achieved, says Piper Jaffray
Piper Jaffray believes the endpoints selected for the Androxal Phase 3 studies for the treatment of secondary hypogonadism should be "readily achieved." Piper views the company's dialogue with the FDA as "very constructive" and reiterates an Overweight rating on Repros with a $26 price target.
12:22 EDTBBYBest Buy calls active on speculation of an activist investor stake
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10:24 EDTBBYRumor: Best Buy moves up on speculation of an activist investor stake
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09:26 EDTRPRXRepros Therapeutics announces FDA confirmation of endpoints for Androxal
Repros Therapeutics announced it has received additional guidance from the FDA regarding primary endpoints for the two studies, ZA-304 and ZA-305, that it is currently conducting comparing Androxal to the leading approved testosterone gel and placebo. The FDA proposed three co-primary endpoints: Percentage change from baseline in sperm concentration comparing Androxal to the leading U.S. testosterone replacement therapy; proportion of men obtaining a testosterone in the normal range; percentage of men that exhibit sperm greater than or equal to 10M/mL at the end of 16 weeks of dosing and testosterone in the normal range, comparing Androxal to a testosterone gel as well as comparing Androxal to placebo. The primary endpoints and statistical analysis plan outlined for ZA-304 and ZA-305 below are being modified to comply with the FDA suggestions. The company believes the two studies are adequately powered to meet these endpoints.
06:14 EDTSNEABI Research: More than 2B smartphones to ship in 2018, DigiTimes says
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July 15, 2014
10:28 EDTKERXHigh option volume stocks
High option volume stocks: TRGT ALB UUP ADHD ROC WWW CTRL KERX IMGN NI
06:30 EDTSNEDOJ investigating music publishing, possible price coordination, WSJ reports
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06:11 EDTSNESamsung, HiSilicon to sell more handset solutions to vendors, DigiTimes says
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06:04 EDTBBBYStocks with implied volatility below IV index mean; BBBY SHPG
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05:42 EDTBBBYBed Bath & Beyond announces planned $1.1B accelerated share repurchase
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July 14, 2014
13:14 EDTBBBYBed Bath & Beyond may be subject of investor activism, says Wells Fargo
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07:43 EDTCATGE far ahead of Caterpillar in race for cleaner diesel train, WSJ says
Caterpillar (CAT) has fallen far behind in the race to offer a locomotive that meets stricter emission standards taking effect next year, with its Electro-Motive Diesel unit stating that its freight trains probably won't be available until 2017, while General Electric (GE) is already testing trains that comply with the new rules, reported The Wall Street Journal. Reference Link
06:42 EDTSNE'Dawn of the Planet of the Apes' leads box office with $73M opening, WSJ says
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06:10 EDTSNETaiwan touch panel makers see more orders from handset vendors, DigiTimes says
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06:03 EDTBBBYStocks with implied volatility below IV index mean; BBBY SHPG
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05:49 EDTBBBYStocks with implied volatility movement; BBBY CWH
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July 13, 2014
15:54 EDTBBBYGameStop, TJX, Staples, three other retailers look cheap, Barron's says
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July 11, 2014
11:17 EDTBBBYHigh option volume stocks
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10:45 EDTBBBYBed Bath and Beyond calls active on speculation of a large investor stake
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10:37 EDTBBBYRumor: Bed Bath & Beyond moves up on speculation of a large investor stake
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06:57 EDTSNESony threatens to stop using Ascap, BMI, NY Times says
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06:42 EDTSNESoundcloud, record labels get closer to agreement, Bloomberg says
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06:16 EDTBBYBest Buy price target raised to $36 from $31 at Citigroup
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06:00 EDTBBBYStocks with implied volatility below IV index mean; RAD BBBY
Stocks with implied volatility below IV index mean; Rite Aid (RAD) 36, Bed Bath & Beyond (BBBY) 18 according to iVolatility.
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