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Stock Market & Financial Investment News

News Breaks
November 27, 2012
12:52 EDTDELL, STX, HPQ, WDCPC sector stocks retreat after firm warns on emerging markets
A number of stocks related to PCs are sliding after research firm CSLA warned that PC sales in emerging markets are slowing more than it had previously expected. In a note to investors this morning, CLSA analyst Nicolas Baratte reported that sales of computer notebooks and netbooks in emerging markets dropped 1% in the third quarter compared with the same period in 2011. Sales of PCs to emerging market companies sank 7%, and worldwide sales of desktops tumbled 10% in the third quarter, the analyst added. Furthermore, the analyst expects PC sales in developed markets to decline by 9% in 2012 and continue dropping in coming years. On a positive note, Baratte expects PC sales in emerging markets to begin growing again during the current quarter, before jumping 9% in 2013. The analyst continues to have a cautious view of Hewlett Packard (HPQ), Dell (DELL), Seagate Technology (STX), and Western Digital (WDC), and he added that Dell and Hewlett Packard seem to be unable to recover from sizable share losses in the PC market. Baratte maintains Underperform ratings on Seagate, Western Digital, and Hewlett-Packard, and an Outperform rating on Dell. Meanwhile, a decision by Seagate CFO Patrick O'Malley to sell 57,280 shares of the company's stock may also be weighing on Seagate in particular and the sector in general. O'Malley sold the shares on November 21, but the transaction was revealed in an SEC filing last night. In early afternoon trading, Seagate fell 4.59% to $26.09, Western Digital gave back 2.67% to $34.85, Dell slid 1.61% to $9.78, and Hewlett-Packard dropped 1.65% to $12.53.
News For STX;WDC;HPQ;DELL From The Last 14 Days
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August 19, 2015
16:58 EDTSTXOn The Fly: Top stock stories for Wednesday
The market opened deep in negative territory after a tumultuous trading session in China and a softer than expected U.S. consumer prices report. Sellers continued to push the averages lower throughout the morning, with the Dow tacking on losses of more than 200 points as investors waited for the release of the Fed minutes. The market rallied following an early leak of the minutes, which suggested officials are getting closer to raising rates but appear to be waiting for additional data. Despite the afternoon rally, the averages sold off once again heading into the close, leaving all three indices in the negatives for Wednesday. ECONOMIC EVENTS: In the U.S., the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%. There were no revisions to the 0.3% headline gain in June or the 0.2% growth in the ex-food and energy component. Component gains were muted across the board, with Energy prices up just 0.1% in July. Meanwhile, FOMC minutes showed no definitive indication of a September rate hike. Most committee members "judged that the conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point." Other members, however, believed that the inflation outlook "might not soon meet one of the conditions... for initiating a firming of policy." COMPANY NEWS: Shares of Dot Hill Systems (HILL) soared $4.50, or 86.87%, to $9.68 after Seagate Technology (STX) agreed to acquire the company for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016. Shares of the hard drive giant fell 5.03% to $49.43 for the session... Lowe's (LOW) shares saw gains of $1.34, or 1.84%, to $74.36 following the company's earnings report this morning, while Target (TGT) rose $59c, or 0.73%, to $80.89 after beating on both top and bottom lines. On a subsequent conference call, Target executives forecast a "choppy" competitive environment in Q3, though they added that the company "will not get beat" on promotions in Q4. Separately, American Eagle (AEO) lost 7.42% to $16.92 after its quarterly numbers. MAJOR MOVERS: Among the notable gainers were Palatin (PTN) and Apricus (APRI), showing respective advances of 3.19% and 7.89% after the FDA approved Sprout's female sexual dysfunction drug Addyi, with the agency remarking that it "continues to encourage drug development in this area." Note that both Palatin and Apricus are developing their own treatments in the space, and Apricus reaffirmed this morning its intent to seek a global partner as it advances its Femprox sexual dysfunction medication. Also higher was Yum! Brands (YUM), which gained $1.90, or 2.26%, to $86.10 after appointing a new CEO of its China division, adding that its same-store sales in the region "have turned significantly positive." Among the noteworthy losers was Rayonier Advanced Materials (RYAM), plunging $6.01, or 44.09%, to $7.62 after disclosing a legal battle with its customer Eastman Chemical (EMN) over "meet or release" contract stipulations which may impact Eastman's purchase obligations. Also lower was Caesarstone (CSTE), which lost $3.43, or 7.14%, to $44.61 after short-selling hedge fund Spruce Point said the stock has up to 75% downside due to heightened raw material costs and competitive concerns, among other factors. Separately, EOG Resources (EOG), Baytex Energy (BTE), and Vanguard Natural (VNR) saw respective losses of 4.15%, 15.53%, and 13.83% after WTI crude fell 5.02% for the session. INDEXES: The Dow declined 162.61, or 0.93%, to 17,348.73, the Nasdaq fell 40.30, or 0.80%, to 5,019.05, and the S&P 500 lost 17.31, or 0.83%, to 2,079.61.
13:30 EDTSTXOn The Fly: Top stock stories at midday
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13:23 EDTHPQOptions with increasing call volume
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07:02 EDTHPQHewlett-Packard August volatility elevated into Q3 and outlook
Hewlett-Packard August call option implied volatility is at 86, September is at 38, January is at 29; compared to its 52-week range of 16 to 37 , suggesting large near term price movement into the expected release of Q3 results on August 20.
05:57 EDTHPQ HP implied volatility of 37 at upper end of index
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05:32 EDTSTXDot Hill Systems downgraded to Neutral from Overweight at Piper Jaffray
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August 18, 2015
18:31 EDTSTXDot Hill Systems up 82% to $9.45 after agreeing to be acquired by Seagate
18:04 EDTSTXSeagate to acquire Dot Hill Systems for $9.75 per share, or $694M
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18:01 EDTSTXSeagate to acquire Dot Hill Systems for $9.75 per share, or $694M
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August 17, 2015
09:14 EDTHPQHP Q3 results have modest expectations at UBS
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08:06 EDTWDCWestern Digital shares offer attractive entry point, says Jefferies
Jefferies analyst James Kisner believes current share levels provide an attractive entry point into Western Digital. The analyst views consensus earnings expectations as achievable and believes the current valuation does not price in potential upside from MOFCOM approval. He keeps a Buy rating on Western Digital with a $116 price target.
07:56 EDTHPQHP Q3 results have modest expectations at UBS
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07:39 EDTDELLTMC to hold a conference
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06:52 EDTHPQHewlett-Packard August volatility elevated into Q3 and outlook
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August 14, 2015
11:08 EDTSTXSeagate options active on renewed private equity speculation
Seagate September 52.50 and January 47 puts are active on total put volume of 23K contracts (7K calls) on renewed private equity speculation. August put option implied volatility is at 40, September is at 29, January is at 30; compared to its 52-week range of 21 to 42. Active option volume suggests traders taking positions for price movement.
10:59 EDTSTXRumor: Seagate active on renewed private equity speculation
06:28 EDTHPQSamsung makes enterprise push with new phones, improved security, WSJ says
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05:58 EDTHPQStocks with implied volatility above IV index mean; JCP HPQ
Stocks with implied volatility above IV index mean; J.C. Penney (JCP) 68, Hewlett-Packard (HPQ) 38 according to iVolatility.
August 13, 2015
11:30 EDTHPQStocks with call strike movement; M HPQ
Macy's (M) November 72.50 call option implied volatility increased 3% to 27, Hewlett-Packard (HPQ) January 34 call option implied volatility increased 7% to 32 according to IVolatility.
07:19 EDTHPQHP Q3 revenue could miss Street by 4%, says Citi
Citi analyst Jim Suva says weakness in PCs, and to a lesser extent printing, may led to HP reporting Q3 revenue on August 20 that misses consensus expectations by up to 4%. However, with the stock underperforming the market by more than 10% since HP reported in late May, a miss is largely priced in, Suva tells investors in a research note. He lowered his estimates for FY15 but reiterates a Buy rating on HP. The analyst continues to view the stock's risk/reward as compelling into the company's break-up.
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