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Stock Market & Financial Investment News

News Breaks
May 16, 2014
08:12 EDTATVI, TTWO, MSFT, EA, SNE, GMESony console sales pass Microsoft for fourth straight month, Bloomberg says
Sony's (SNE) PlayStation 4 surpassed Microsoft's (MSFT)ís Xbox One in April to rank first in U.S. console sales, prolonging its lead for a fourth consecutive month, according to Bloomberg, citing data from NPD Group. Hardware sales in April increased 76% to $192.8M from last year, while software excluding titles for PCs decreased 10% to $227.9M. Companies who provide games for both consoles include Activision Blizzard (ATVI), Electronic Arts (EA) and Take-Two (TTWO), while GameStop (GME) is a game and console retailer. Reference Link
News For SNE;MSFT;ATVI;EA;TTWO;GME From The Last 14 Days
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June 25, 2015
17:56 EDTMSFTMicron plunges after Q3 results, guidance impacted by PC headwinds
Shares of PC related memory chip maker Micron Technology (MU) are plunging after reporting third quarter financial results and fourth quarter guidance that missed analyst expectations. WHAT'S NEW: After the close, Micron reported Q3 earnings per share of 54c on revenue of $3.85B, both shy of analyst estimates of 56c and $3.9B, respectively. Citing "near-term headwinds driven primarily by weakness in PC sector," Micron gave a fourth quarter revenue view of $3.45B-$3.7B which was significantly lower than analyst expectations of $4.16B. WHAT'S NOTABLE: On the company's earnings conference call, Micron said, consistent with prior expectations, "We are forecasting DRAM industry supply bit growth in the mid-20s in calendar 2015 and in the low-to-mid 20s in 2016." The company said it sees DRAM gross margins for Q4 down mid-single digits sequentially. Additionally, the chip maker said it sees Q4 DRAM bit growth flat to up low single digits. ANALYST TAKE: On June 22, Micron was downgraded to Sell from Neutral at Goldman Sachs. Goldman analyst Mark Delaney downgraded Micron Technology to Sell saying rising DRAM supply will lower selling prices and contract margins. Delaney expects DRAM prices to drop up to 30% over the next three quarters and cut his price target for shares to $19 from $27. On the same day, JP Morgan lowered its price target on Micron shares to $33 from $37. The firm also lowered its estimates for Micron citing lower than anticipated DRAM pricing in the past three months. The firm, however, kept an Overweight rating on Micron, saying improving demand in other segments like mobile and the company's decision to not hold inventory during Q3 should help offset the DRAM weakness. PRICE ACTION: Shares of Micron are lower by 11.5% in after- hours trading to $21.25. OTHER PC RELATED STOCKS: In after-hours trading, PC related chip makers are also lower, with Intel Corporation (INTC) down 0.9%, NVIDIA (NVDA) lower by 1.1%, and AMD (AMD) down fractionally. Others trading lower include Microsoft (MSFT), SanDisk (SNDK), Hewlett-Packard (HPQ), and Seagate (STX).
17:26 EDTMSFTMicrosoft CEO Satya Nadella lays out new mission statement, GeekWire reports
Microsoft CEO Satya Nadella emailed a new mission statement to employees companywide on Thursday morning, which was obtained by GeekWire. It reads, in part, "I believe that culture is not static. It evolves every day based on the behaviors of everyone in the organization. We are in an incredible position to seize new growth this year. We will need to innovate in new areas, execute against our plans, make some tough choices in areas where things are not working and solve hard problems in ways that drive customer value." Reference Link
16:53 EDTTTWOTake-Two initiated with a Buy at Mizuho
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16:50 EDTEAElectronic Arts initiated with a Buy at Mizuho
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16:48 EDTATVIActivision Blizzard initiated with a Buy at Mizuho
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06:31 EDTMSFTMicrosoft focusing on increasing smartphone sales in India, WSJ reports
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June 24, 2015
19:53 EDTEAComcast to offer EA games over cable box, DSLReports says
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18:16 EDTMSFTGoogle, GE, Airbus lead in sheer number of meetings with EU officials
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15:53 EDTGMESunTrust identifies the most likely M&A activity in specialty retail
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11:11 EDTGMEAnalyst says Best Buy shares poised to rise
Best Buy's (BBY) stock is poised to advance after the company reports its second quarter results, research firm B. Riley predicted. WHAT'S NEW: Best Buy's forecast for increased margins in the second half of the year, along with easing comparisons, should cause the stock to rise, predicted B. Riley in a note to investors earlier today. The shares will be particularly well-positioned to climb after the company updates its guidance following its Q2 results, the firm believes. Best Buy's initiatives should help increase its revenue and profits heading into fiscal 2017 and the retailer can continues to increase its market share at the expense of Sears (SHLD), RadioShack and others. Additionally, macro economic trends remain favorable for Best Buy and its key product categories continue to perform well, according to B. Riley. The firm, which is particularly confident about the company's ability to beat Q4 consensus estimates, keeps a $47 price target on the name and reiterates a Buy rating on the shares. WHAT'S NOTABLE: In their own note to investors this morning, SunTrust analysts David Magee and D. Mitch Van Zelfden speculated on potential M&A activity in the specialty retail space, noting that "Wall Streetís appetite for acquisitions has strengthened recently." In their opinion, Best Buy acquiring GameStop (GME) is among the "most compelling relationships" in the sector, the note explained. PRICE ACTION: In mid-morning trading, Best Buy slid 0.4% to $34.72, while GameStop rose 1.3% to $44.92.
10:36 EDTATVI, EA, TTWO, MSFT, GME, SNEElectronic Arts advances after analysts positive on E3 showing
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10:00 EDTTTWO, EAOn The Fly: Analyst Upgrade Summary
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09:35 EDTMSFTActive equity options trading on open
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07:13 EDTATVIActivision Blizzard well positioned for upside, says Brean Capital
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07:10 EDTTTWO, EATake-Two upgraded to Buy with $35 target at Jefferies
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07:09 EDTEAElectronic Arts price target raised to $75 from $66 at Brean Capital
Brean Capital raised its price target on Electronic Arts to $75 from $66 as they believe management's guidance may prove to be conservative. The firm also sees the company leading its peers on digital monetization on consoles and the cross-over into mobile. Brean Capital reiterated its Buy rating on Electronic Arts shares.
07:05 EDTEAElectronic Arts upgraded to Buy with $80 target at Jefferies
Jefferies upgraded Electronic Arts to Buy from Hold and raised its price target for the stock to $80. The firm views EA as well positioned amid faster than expected console sales and thinks the company's game pipeline is the best its ever been.
06:44 EDTTTWOTake-Two upgraded to Buy from Hold at Jefferies
Price target $35.
06:44 EDTEAElectronic Arts upgraded to Buy from Hold at Jefferies
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06:07 EDTMSFTJefferies says PC market to stay 'lower for longer'
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