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Stock Market & Financial Investment News

News Breaks
June 11, 2014
12:27 EDTSYNA, AAPL, SNDK, MU, ULTA, TBBK, OREXOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, though the Nasdaq had almost made its way back to unchanged near noon. Equity futures were weak during the pre-market trading session, leading to a lower open for the broader market. The averages found a level a short time after the open, from where they have been mostly drifting, with the Dow weakening a bit and the Nasdaq firming. The oil inventory numbers released mid-morning were generally in-line with forecasts and had little effect on the market. Of note on the political front, House Majority Leader Eric Cantor became the first sitting majority leader to ever lose in a primary after Tea Party activist David Brat surprisingly, and handily, beat Cantor in Virginia. ECONOMIC EVENTS: In the U.S., the federal budget is due to be reported at 2:00 pm ET, with the consensus forecast calling for a deficit of $131B. Also, the World Bank lowered its forecast for U.S. economic growth this year to 2.1%, which is down from its previous 2.8% growth expectation. COMPANY NEWS: Shares of chipmaker Synaptics (SYNA) surged 25% after the company confirmed last night that it had agreed to buy Renesas SP Drivers, which supplies display driver chips for Apple's (AAPL) iPhone. Research firm Pacific Crest called the acquisition, which had been speculated about previously in media reports, "a game changer" for Synaptics, as the firm believes that Synaptics can position itself for additional sales to Apple and other companies by integrating display drivers into its touch controller. MAJOR MOVERS: Among the notable gainers was beauty supply store operator Ulta Salon (ULTA), which jumped 14% after reporting better than expected Q1 results and reaffirming its FY14 guidance. Also higher were Micron (MU), which rose more than 5%, and SanDisk (SNDK), which advanced 3%, after BofA Merrill Lynch upgraded both of their stocks by two notches to Buy from Underperform in notes to investors this morning. Among the noteworthy losers was The Bancorp (TBBK), which was downgraded to Neutral at BTIG and dropped 28% after the company's disclosure of an FDIC order requiring restrictions on certain activities at its bank subsidiary. Also lower was Orexigen (OREX), which fell more than 16%, after announcing that the FDA extended the review period for NB32, the company's investigational medication being evaluated for weight loss, by three months. INDEXES: Near noon, the Dow was down 82.42, or 0.49%, to 16,863.50, the Nasdaq was down 1.71, or 0.04%, to 4,336.28, and the S&P 500 was down 5.17, or 0.27%, to 1,945.62.
News For SYNA;AAPL;SNDK;MU;ULTA;TBBK;OREX From The Last 14 Days
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October 14, 2014
10:49 EDTAAPLWells Fargo says spending more on compliance, risk management
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10:43 EDTAAPLSkyworks benefiting from gains at Apple, China 4G/LTE ramp, says Oppenheimer
Oppenheimer raised its estimates on Skyworks (SWKS) after the company pre-announced better than expected Q4 results. The firm expects sustained tailwinds into and beyond next quarter for Skyworks based on continued shares gains at Apple (AAPL) and from rising 4G/LTE phone sales in China. Oppenheimer maintains its Outperform rating and $65 price target on Skyworks and says the stock remains one of its top picks.
10:27 EDTULTAUlta Salon volatility elevated into investor meeting
Ulta Salon October call option implied volatility is at 47, November is at 33, December is at 42; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement into an Investor meeting on October 15.
09:37 EDTAAPLActive equity options trading on open
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09:37 EDTAAPLDomino's Pizza sees potential for additional 3.8K stores in top 15 markets
Says has 'robust' international business. Says its store count growing faster internationally than Pizza Hut or Papa Johns (PZZA). Pizza Hut is owned by Yum! Brands (YUM). Says now offering voice ordering for Apple's (AAPL) iPhone and Google's (GOOG) Android operating systems. Says in terms of the franchise's long-range outlook, sees global net units to increase 4%-6%, sees domestic SSS to increase 2%-4%, sees international SSS to increase 3%-6% and sees global retail sales to increase 6%-10%. Comments taken from the company's Q3 earnings conference call slide presentation.
07:59 EDTSNDKSanDisk should be bought on weakness, says Pacific Crest
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07:47 EDTSNDKSanDisk October volatility elevated into Q3 and guidance
SanDisk October call option implied volatility is at 98, November is at 44, January is at 35; compared to its 26-week average of 32 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 16.
07:24 EDTAAPLApple price target raised to $110 from $96 at Credit Suisse
Credit Suisse raised Apple's price target to $110 and materially raised estimates to reflect new iPhone forecasts. The firm maintains its Neutral rating based on limited upside.
06:37 EDTAAPLUMC lands 28nm LTE chip orders from Qualcomm, DigiTimes reports
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06:36 EDTAAPL'Double Irish' tax arrangement poised to halt, itnews says
Ireland is positioned to enact legal revisions soon that will slowly cease its "Double Irish" tax agreement, which has allowed companies like Google (GOOG) and Apple (AAPL) to not spend billions of dollars worth of taxes, according to itnews, citing, two sources familiar with the situation. Reference Link
06:30 EDTAAPLApple expected to show new iPads at Thursday's event, Re/code says
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06:30 EDTAAPLSolvay, Apple allegedly enter supply agreement, Bloomberg says
Solvay (SVYZY) and Apple (AAPL) have supposedly entered a supply agreement in which the Belgium chemical company will supply a type of high-performance plastic for iPhone 6 devices, according to Bloomberg, citing two people with knowledge of the situation. Reference Link
October 13, 2014
16:02 EDTAAPLOptions Update; October 13, 2014
iPath S&P 500 VIX Short-Term Futures up 3.71 to 39.56. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX SUNE GILD BAC PBR according to Track Data.
11:53 EDTULTAUlta Salon to host investor meeting
Investor meeting to be held in Chicago on October 15 at 11 am. Webcast Link
09:39 EDTAAPLActive equity options trading on open
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08:31 EDTAAPLApple says iPhone 6, 6 Plus to arrive in 36 more countries this month
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06:41 EDTAAPLWalgreens to roll out Apple Pay on October 18, MacRumors reports
Walgreens (WAG) will begin rolling out Apple Pay (AAPL) on Saturday, October 18, according to a memo obtained by MacRumors. Reference Link
06:05 EDTAAPLReport: Apple iPhone 6 pre-orders in China reach 20M, Digitimes says
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06:03 EDTMUStocks with implied volatility above IV index mean; HTZ MU
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October 12, 2014
17:58 EDTMUMicron shares look more attractive, Barron's says
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