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April 12, 2012
12:11 EDTBLK, CSCO, CAH, HPQ, MKTX, FIO, ABC, SNE, AVID, TSCO, MCKOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, despite a larger than expected increase in weekly jobless claims. The market opened relatively quietly following the release of a number of economic data points. The averages drifted for the opening minutes but then gained upside momentum. The move higher stalled after the averages had gains of roughly 0.5%, then stocks resumed their march higher, with all of the major averages up more that 1.0% near noon... ECONOMIC EVENTS: Domestically, 380K initial jobless claims were filed last week, versus the expected 355K. 3.25M continuing claims were reported, versus the expected 3.33M. Producer prices for the month of March were flat, versus the expected increase of 0.3%. The core PPI reading, however, rose 0.3%, versus the expected increase of 0.2%. The trade balance report showed a deficit of $46.0B, versus expectations for a deficit of $51.8B. Also, Fed Vice Chairwoman Janet Yellen made comments last night that the Fed might need to take additional action to bolster the economy if the unemployment rate does not come down. Internationally, Italy's short-term borrowing costs rose at auction, adding to fears that the calming effect of cheap ECB cash is fading... COMPANY NEWS: Sony (SNE) confirmed it plans to cut approximately 10,000 jobs in FY12 as it reorganizes to grow its electronics business to complement its stable entertainment and financial service businesses. Sony said it is positioning digital imaging, games and mobile as the three main focuses of its electronics division and it is making deep cuts in the costs and number of offerings in its television business. Investors were apparently not particularly moved by the announcements, as shares were up 2c, or 0.11%, to $18.77... Researchers Gartner and IDC both indicated that global shipments of personal computers rose in Q1 and Hewlett-Packard (HPQ) remained the top PC maker by volume, pushing H-P's shares up 6.25% near noon... MAJOR MOVERS: Among the notable gainers were McKesson (MCK), up 4%, after the company beat out AmerisourceBergen (ABC) and Cardinal Health (CAH) to retain its Department of Veterans Affairs contract, Tractor Supply (TSCO), up almost 6%, after the company raised its 2012 guidance on expectations for a strong first quarter, Fusion-io (FIO), up more than 12%, following a note to investors from Piper Jaffray which said it believes the company is working on a new original equipment manufacturer deal with Cisco (CSCO). Noteworthy losers included Avid Technology (AVID), down over 14%, after the company said it expects to post a Q1 loss on revenues that will be down compared to last year, and MarketAxess (MKTX), down more than 4%, following a Wall Street Journal report that BlackRock (BLK) intends to launch its own trading platform that would let money managers trade bonds directly with each other... INDICES: Near noon, the Dow was up 142.14, or 1.11%, to 12,947.53; the Nasdaq was up 34.78, or 1.15%, to 3,051.24; and the S&P 500 was up 14.37, or 1.05%, to 1,383.08.
News For SNE;HPQ;MCK;ABC;CAH;TSCO;FIO;CSCO;AVID;MKTX;BLK From The Last 14 Days
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July 15, 2015
05:49 EDTBLKBlackRock reports Q2 assets under management up 3% to $4.72T
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05:47 EDTBLKBlackRock reports Q2 operating income up 10% to $1.24B
Reports Q2 AUM growth of 3%. Reports $7.3B of long-term net outflows for Q2.
05:46 EDTBLKBlackRock reports Q2 adjusted EPS $4.96, consensus $4.80
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July 14, 2015
15:01 EDTBLKNotable companies reporting before tomorrow's open
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14:30 EDTBLKBlackRock technical remarks ahead of earnings
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10:01 EDTHPQOn The Fly: Analyst Initiation Summary
8point3 Energy (CAFD) initiated with a Buy at Deutsche Bank... Abraxas Petroleum (AXAS) initiated with a Market Perform at Cowen... Amarantus Bioscience (AMBS) initiated with a Buy at WallachBeth... Ashford Hospitality Prime (AHP) initiated with a Hold at Canaccord... Ashford (AINC) initiated with a Hold at Canaccord... BE Aerospace (BEAV) initiated with a Neutral at JPMorgan... Bed Bath & Beyond (BBBY) initiated with a Neutral at Longbow... Benchmark Electronics (BHE) initiated with a Buy at B. Riley... Bill Barrett (BBG) initiated with a Market Perform at Cowen... Boeing (BA) initiated with an Overweight at JPMorgan... Bombardier (BDRBF) initiated with a Neutral at JPMorgan... Cablevision (CVC) initiated with a Hold at Deutsche Bank... Charter (CHTR) initiated with a Buy at Deutsche Bank... Chesapeake (CHK) initiated with an Equal Weight at Stephens... Comcast (CMCSA) initiated with a Hold at Deutsche Bank... DiamondRock (DRH) initiated with a Buy at Canaccord... Diamondback Energy (FANG) initiated with an Outperform at Cowen... EOG Resources (EOG) initiated with an Overweight at Stephens... Fogo De Chao (FOGO) initiated with a Buy at Jefferies... General Dynamics (GD) initiated with an Overweight at JPMorgan... HP (HPQ) initiated with a Hold at Maxim... Hanover Insurance (THG) initiated with an Overweight at Piper Jaffray... Harris (HRS) initiated with a Neutral at JPMorgan... Hospitality Properties (HPT) initiated with a Hold at Canaccord... Host Hotels (HST) initiated with a Hold at Canaccord... Hydrogenics (HYGS) initiated with a Buy at Rodman & Renshaw... King Digital (KING) initiated with an Overweight at Morgan Stanley... L-3 Communications (LLL) initiated with a Neutral at JPMorgan... La-Z-Boy (LZB) initiated with a Neutral at Longbow... LaSalle Hotel (LHO) initiated with a Hold at Canaccord... MINDBODY (MB) initiated with a Buy at UBS... Marriott (MAR) initiated with a Hold at Canaccord... Newfield Exploration (NFX) initiated with a Buy at Global Hunter... Northern Oil and Gas (NOG) initiated with a Market Perform at Cowen... Northrop Grumman (NOC) initiated with an Underweight at JPMorgan... Oasis Petroleum (OAS) initiated with an Outperform at Cowen... PDC Energy (PDCE) initiated with an Outperform at Cowen... Pier 1 Imports (PIR) initiated with a Buy at Longbow... Plexus (PLXS) initiated with a Buy at B. Riley... Raytheon (RTN) initiated with a Neutral at JPMorgan... RetailMeNot (SALE) initiated with an Equal Weight at Morgan Stanley... Rockwell Collins (COL) initiated with a Neutral at JPMorgan... Spirit AeroSystems (SPR) initiated with an Overweight at JPMorgan... Starwood (HOT) initiated with a Buy at Canaccord... Strategic Hotels (BEE) initiated with a Buy at Canaccord... Summit Hotel Properties (INN) initiated with a Buy at Canaccord... Textron (TXT) initiated with a Neutral at JPMorgan... Time Warner Cable (TWC) initiated with a Buy at Deutsche Bank... TransDigm (TDG) initiated with an Overweight at JPMorgan... TrueCar (TRUE) initiated with an Equal Weight at Morgan Stanley... Whiting Petroleum (WLL) initiated with an Outperform at Cowen... XL Group (XL) initiated with an Overweight at Piper Jaffray... Zillow Group (Z) initiated with an Overweight at Morgan Stanley... Zynga (ZNGA) initiated with an Equal Weight at Morgan Stanley.
10:01 EDTCAHOn The Fly: Analyst Downgrade Summary
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08:56 EDTMCKMorgan Stanley names 'Vintage Values 2016' list
Morgan Stanley named its "Vintage Values 2016" list, comprised of the firm's analysts' best ideas to hold over the next 12 months. Included on the list are Ameriprise (AMP), Apple (AAPL), Bank of America (BAC), Comcast (CMCSA), Crown Castle (CC), Estee Lauder (EL), Hilton (HLT), Ingersoll-Rand (IR), LinkedIn (LNKD), Magna (MGA), Marathon Oil (MRO), McKesson (MCK), Oaktree Capital (OAK), Thermo Fisher (TMO) and Visa (V).
08:07 EDTHPQSeagate extends ClusterStor alliance with HP
Seagate (STX) said it has extended its alliance agreement with computing leader HP (HPQ) to equip its high performance computing solutions with ClusterStor scale-out storage capabilities.
08:03 EDTSNEDolby partners with VIZIO, Sony to drive AC-4 adoption
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08:02 EDTHPQHP initiated with a Hold at Maxim
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07:07 EDTCSCOCisco management to meet with Deutsche Bank
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06:32 EDTCAHCardinal Health downgraded to Hold following share strength at Evercore ISI
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05:55 EDTCAHCardinal Health downgraded to Hold from Buy at Evercore ISI
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July 13, 2015
15:35 EDTHPQHP introduces devices, solutions, services to complement Windows 10
HP (HPQ) unveiled a set of offerings, including devices, solutions and services, that it said complement Microsoft's (MSFT) upcoming Windows 10 OS. HP devices available with Windows 10 include the BANG & OLUFSEN limited edition of the HP EliteBook Folio 1020 and the recently announced HP Pro Tablet 608. The BANG & OLUFSEN limited edition of the HP EliteBook Folio 1020 is expected to be available in the fall and pricing for the product will be set closer to its availability date, HP said. HP Pro Tablet 608 is expected to be available in August, starting at $429. For SMB customers, HP is offering HP Subscription -- a new way for customers to access the latest PC technology for a monthly fee. For large corporate and enterprise organizations, HP will offer a full suite of services, including client configuration and deployment services, to help customers migrate and transform to Windows 10, the company added.
08:25 EDTBLKRepresentative Neugebauer hosts a roundtable
Fixed-Income Liquidity Roundtable examines the heightened concerns regarding liquidity in the fixed-income markets. Participants include SEC Commissioner Gallagher, CFTC Commissioner Bowen, JPMorgan Chase Chief Regulatory Affairs Officer O'Connor, GE Capital Deputy Treasurer Yoh and Managing Director of Trading Riaz of BlackRock in Washington, D.C. on July 13 at 2:30 pm. Webcast Link
07:42 EDTCSCOCisco, F5 to benefit from strong IT, data networking spending, says Bernstein
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07:32 EDTCSCOCisco management to meet with Deutsche Bank
Meeting to be held in London on July 13 hosted by Deutsche Bank.
07:18 EDTHPQHP announces HPC alliance with Intel
HP (HPQ) announced a High Performance Computing, or HPC, alliance with Intel (INTC) created to advance customer innovation and help expand accessibility of HPC to enterprises of all sizes. To increase accessibility of HPC, the companies will launch a new Center of Excellence, which is designed to bring a community of experts from both companies to support customers in planning, developing, deploying and managing HPC solutions.
05:49 EDTHPQ, SNEUpstream supply chain expects weak PC performance in 2H15, DigiTimes reports
The upstream supply chain expects weak PC performance in the second half of 2015, reports DigiTimes. According to sources, orders are expected to stay weak in Q3 after it originally expected a bottoming out in Q2. Reference Link
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