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Stock Market & Financial Investment News

News Breaks
January 31, 2013
16:43 EDTSTZ, CLSN, SWKS, FTNT, SGMS, WMS, QCOM, FB, BUD, FIOOn The Fly: Closing Wrap
Stocks on Wall Street were lower after the averages moved in a narrow range for much of the session on fairly light volume ahead of tomorrow's non-farm payroll report... ECONOMIC EVENTS: In the U.S., weekly unemployment applications jumped 38K to a seasonally adjusted 368K, versus expectations for a more modest rise to 350K. The Challenger job cuts report showed planned layoffs were down 24.4% from the same period a year ago. The Commerce Department said consumer spending rose 0.2% in December, which was slightly slower than the 0.4% increase in November, though income jumped 2.6% in December for the biggest monthly gain since the end of 2004. The Chicago Purchasing Manager’s Index came in at 55.6, beating an expected reading of 50.5... COMPANY NEWS: The Department of Justice announced it was suing to prevent Anheuser-Busch InBev's (BUD) planned $20.1B deal to buy control of Grupo Modelo (GPMCF). Shares of AB InBev fell sharply after the news broke, settling down $5.54, or 5.88%, at $88.60. Constellation Brands (STZ), whose deal to acquire the remaining 50% in the Crown Import joint venture it runs with Grupo Modelo is in jeopardy from the DoJ action, lost $6.81, or 17.39%, to $32.36 following the news. However, late in the day, Bloomberg cited sources in reporting that AB InBev's talks about the merger are continuing with U.S. regulators... Facebook (FB) opened sharply lower following its quarterly report, but recovered through the day, eventually closing down only 26c, or 0.83%, at $30.98. Despite earnings and revenue that beat consensus, shares were downgraded by at least five firms as the company said it plans to invest heavily in its business in 2013... Qualcomm (QCOM) saw price targets on its shares raised around the Street following the company's Q1 results and increased guidance and closed up $2.49, or 3.92%, at $66.02... MAJOR MOVERS: Among the notable gainers was WMS Industries (WMS), up $8.38, or 51.19%, to $24.75 after agreeing to be acquired by Scientific Games (SGMS) for $26.00 per share in cash. Shares of Scientific Games opened sharply higher, but fell through the session to close down 4c, or 0.45%, at $8.89. Also higher following earnings reports that beat Street estimates were Fortinet (FTNT), up $4.24, or 21.91%, to $23.59 and Skyworks (SWKS), up $2.38, or 11.04%, to $23.94. Among the noteworthy losers was Celsion (CLSN), down $6.51, or 81.17%, to $1.51 after its Phase III HEAT study of ThermoDox did not meet its primary endpoint. Also lower was Fusion-io (FIO), down $2.61, or 12.99%, to $17.48, after its Q3 revenue view came in well below Street estimates and the stock was downgraded and price targets were cut by at least three firms... INDICES: The Dow was down 49.84, or 0.36%, to 13,860.58; the Nasdaq was down 0.18, or 0.01%, to 3,142.13; and the S&P 500 was down 3.85, or 0.26%, to 1,498.11.
News For STZ;BUD;FB;QCOM;WMS;SGMS;FTNT;SWKS;CLSN;FIO From The Last 14 Days
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October 13, 2014
05:15 EDTFBFacebook, Ericsson, XL Axiata innovate to improve Indonesia network performance
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October 12, 2014
17:20 EDTQCOMGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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October 10, 2014
16:02 EDTFBActionable Options for Friday, October, 10
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10:29 EDTSWKSMicrochip CEO warning on industry correction sinks semiconductors
Shares of a number of semiconductor makers are falling sharply after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector had entered a correction. In a note to investors today, research firm FBR Capital said Microchip's comments "could be worrisome, " and the firm responded by taking a more defensive stance on the space. WHAT'S NEW: Microchip, which develops microcontroller and analog semiconductors, estimated that its second quarter revenue would come in at $546.2M, versus its previous guidance of $560.0M-$575.9M and analysts' consensus estimate of $568M. The company said that it had experienced a number of negative trends during the quarter, including a weaker than usual September, weakness in China, and significant inventory builds at its distributor customers. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it reports sales from distribution on a sell-through basis and built a significant amount of inventory in the distribution channel in the September quarter and that it does business with over 80,000 customers. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future.” ANALYST REACTION: In a note to investors today, FBR Capital analyst Christopher Rolland said that Microchip's statements come in the wake of other negative signs for the sector. In August and September, lead times for the sector fell versus the month before, the analyst stated. Additionally, revenue trends at Taiwanese chip makers weakened in August, Rolland stated. The analyst said that Microchip's statements pushed him over the fence, causing him to take a more defensive stance on the sector. He removed ON Semiconductor (ONNN) from FBR's Top Picks list but kept an Outperform rating on the stock, as he believes that its valuation is "very reasonable." Rolland maintained Market Perform ratings on Atmel (ATML), Texas Instruments (TXN), Fairchild (FCS), AMD (AMD), and Applied Micro Circuits (AMCC). Sterne Agee also attributed weakness in the sector to Microchip's warnings, but the firm recommended buying NXP Semiconductors (NXPI), Avago (AVGO), and Skyworks (SWKS) due to their strong product cycles with EMV and upcoming iPhone-iPad launches from Apple (AAPL). In addition, the firm said it would buy Micron (MU) and SanDisk (SNDK) given tight supply, below normal inventory levels, and tailwinds from China. PRICE ACTION: In early trading, Microchip dropped nearly 14% to $39.29, Intel (INTC) fell almost 6% to $31.67, On Semiconductor slid 10% to $7.53, Atmel tumbled 11.5% to $6.61, Texas Instruments slipped 8% to $42.16, Fairchild slumped 10.6% to $12.95, AMD dropped 6% to $2.77, Applied Micro declined 10% to $6.19, and NXP Semiconductors was 14% lower to $55.27.
10:07 EDTFBFacebook, peer-to-peer lending groups in discussions, The Information says
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07:57 EDTFBFacebook, India Telecom Minister discuss expanding in India, Economic Times says
Facebook CEO Mark Zuckerberg and India's Telecom Minister Ravi Shankar Prasad met to discuss expanding the reach of internet by using alternate technology, reports The Economic Times. According to sources, Facebook requested Prasad establish single point contact in his ministry for the alternative technology to which the minister immediately agreed. Reference Link
October 9, 2014
16:00 EDTFBOptions Update; October 9, 2014
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06:59 EDTFBFacebook has no imminent WhatsApp monetization goals, Reuters says
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06:40 EDTFTNTSource of JPMorgan cyberattack still unclear, NY Times says
The source of the cyberattack on JPMorgan (JPM) and other U.S. financial institutions this summer is still unclear, according to The New York Times. The hackers may have tried to hit about a dozen financial institutions , and E-Trade(ETFC) and Fidelity Investments may have been victimized in some way, the newspaper stated, citing an unnamed source who was briefed on the matter. At least five other banks, including Citigroup (C), HSBC (HBC) and Regions Financial (RF), discovered that one of the web addresses used by those who hacked JPMorgan tried to penetrate their systems, The Times quoted unnamed sources briefed on the matter as saying. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
October 8, 2014
16:01 EDTFBOptions Update; October 8, 2014
iPath S&P 500 VIX Short-Term Futures down 2.73 to 29.51. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX PBR AA CLF GILD according to Track Data.
09:38 EDTFBActive equity options trading on open
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08:20 EDTQCOMQualcomm opportunity at Xiaomi almost rivals iPhone, says FBR Capital
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08:01 EDTFTNTFortinet should be bought ahead of earnings, says Pacific Crest
Pacific Crest believes that Fortinet's core momentum remains strong as it continues to gain share in enterprise deals. The firm thinks the company could beat expectations. It keeps an Outperform rating on the shares.
07:24 EDTFBFacebook feature allows advertisers to find clients via location
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06:00 EDTFBInstagram still most used social network for teens, says Piper Jaffray
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October 7, 2014
13:48 EDTFBFacebook to release anonymous chat application, NY Times reports
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13:33 EDTFBGoogle executive says Google+ here to stay, Re/code reports
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11:35 EDTQCOMStocks with call strike movement; JPM QCOM
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10:17 EDTSWKSSamsung outlook miss weighs on suppliers
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06:43 EDTFBGM using Facebook, calls to reach out and get recalled cars fixed, AP reports
General Motors (GM) is using Facebook (FB) messages and phone calls to reach out to vehicle owners who have yet to bring in their cars the company has recalled, reports the Associated Press. CEO Mary Barra has also sent a personal letter urging people to get the switches replaced. Reference Link
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