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Stock Market & Financial Investment News

News Breaks
February 27, 2012
07:42 EDTT, AAPL, MSFT, NOK, RIMMAT&T calls for mobile video interoperability, Light Reading reports
AT&T's (T) Mobility head Ralph de la Vega called on providers that deliver video services over the top of mobile networks, such as Apple's (AAPL) FaceTime and Microsoft-owned (MSFT) Skype, to become more compatible in order to to keep powering the growth of the mobile industry, in his keynote address to the Mobile World Congress, reported Light Reading. Reference Link
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August 13, 2014
14:54 EDTMSFTEarnings Preview: Cisco reports following Deutsche upgrade, Pac Crest downgrade
Cisco Systems (CSCO) is scheduled to report fourth quarter results after the market close on Wednesday, August 13, with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 53c on revenue of $12.14B, according to First Call. The consensus range for EPS is 51c-54c on revenue of $11.8B-$12.25B. Along with its last quarterly report, Cisco guided to Q4 adjusted EPS of 51c-53c and said it expects its revenue to be down 1% to 3% in the quarter compared to the prior year. At that time, the company also said it sees its FY14 adjusted EPS to come in at the higher end of its previously communicated $1.95-$2.05 range. LAST QUARTER: On May 14, Cisco reported third quarter adjusted EPS of 51c, beating the consensus analyst forecast of 48c. It's revenue came in at $11.5B, topping the $11.38B consensus forecast. Cisco reported a Q3 adjusted gross margin of about 62.7%. NEWS: On June 17, Cisco announced its intent to acquire privately held Tail-f Systems, whose products help service providers and enterprise IT organizations easily and cost-effectively implement applications, network services and solutions across networking devices. Upon completion of the acquisition, which is expected to be complete in Q4, Tail-f employees will join Cisco's Cloud and Virtualization Group. About two weeks later, tech blog Gigaom reported that Cisco has acquired British firm Assemblage for technology that uses real-time collaboration that does not require the user to download programs or plug-ins. On July 15, Cisco announced a multi-year sales and go-to-market agreement with Microsoft (MSFT) designed to modernize data centers through the delivery and acceleration of integrated solutions. Cisco and Microsoft will both invest in sales, marketing and engineering resources to drive global alignment, while delivering deeper technology integration across cloud and data center markets, the companies stated. STREET RESEARCH: On May 21, Northland said that after speaking with Cisco's management and attending Cisco Live, the firm believed that the company is taking share form Arista Networks (ANET), which has since come public. The firm added that it did not believe that Juniper (JNPR) has gained traction in data center switching and it recommended Cisco as a cyclical recovery play and a relative bargain to peers. About a week later, Deutsche Bank upgraded its rating on Cisco shares to Buy from Hold, citing expectations that the company's new product ramps in FY15 and FY16 will be stronger than expected. Deutsche said then that it saw upside to consensus estimates and raised its price target for Cisco shares to $30 from $25. On July 28, Pacific Crest downgraded its rating on Cisco shares to Sector Perform from Outperform, citing valuation and concern that the company's margin expansion could moderate in 2015. The firm believes Cisco shares are fairly valued at $26. Less than a week ago, Morgan Stanley said its checks indicate the enterprise market is improving. The firm said it expects Cisco's outlook to be conservative and said concerns over rapid software-defined networking adoption and margin impact are overblown. Morgan Stanley has an Overweight rating with a $30 price target on Cisco. PRICE ACTION: In the last three months, Cisco has advanced about 9.5%. In afternoon trading ahead of tonight's report, Cisco shares are down 0.5% to $25.01.
11:41 EDTAAPLAmazon payment move complements e-commerce platform, says RW Baird
Baird said Amazon's (AMZN) launch of the "Local Register" payment and card reader system is not a surprise after the company's acquisition of assets from GoPago and that the move is complementary to Amazon's e-commerce platform. Baird said Amazon's system will compete with Square and eBay's (EBAY) payment product "Here" and added that it expects Google (GOOG) and Apple (AAPL) to expand their existing payment initiatives. The firm maintains its Outperform rating and $400 price target on Amazon.com.
11:27 EDTTJDSU falls after outlook disappoints, analyst downgrades
Shares of JDSU (JDSU), a provider of equipment to telecommunications service providers, are sharply lower after the company's fourth quarter results and first quarter guidance were reported last night. Following the report, the stock was downgraded this morning at two Street research firms. WHAT'S NEW: Last night, JDSU reported fourth quarter adjusted earnings of 14c per share, beating the consensus forecast by 1c, on revenue of $448.6M, which topped the consensus $436.8M view. However, JDSU expects revenue to be $405M-$425M in its first quarter and sees Q1 EPS of 8c-12c, which fell short of consensus of about $441M and 14c, respectively. JDSU's President and CEO Tom Waechter said, "Looking ahead to fiscal 2015, we believe there are strong market drivers across our three business segments, and that we are well positioned with differentiated products and solutions to support our customers as they transition to Software Defined Networks, Network Function Virtualization and more dependency on cloud infrastructure. We continue to lead in our core network and anti-counterfeiting markets and I am pleased with the momentum we are building in our commercial lasers business on the strength of our highly differentiated fiber laser product line." ANALYST OPINION: Following the company's report, B. Riley analyst Dave Kang cut his rating on JDSU shares to Neutral from a Buy rating, citing near-term uncertainties in the North American telecom market. Kang pointed to two events contributing to that uncertainty, namely an architectural shift to SDN, or Software Defined Networking, and AT&T's (T) planned merger with DirecTV (DTV). The analyst acknowledged previously underestimating the potential impact of the SDN shift on the telecom equipment industry and noted that appears to be impacting JDSU's NSE business more than its optical component unit. Kang prefers Finisar (FNSR) over JDSU given the current environment, noting that about 70% of Finisar's sales come from the datacom sector. Kang lowered his price target on JDS Uniphase shares to $11.75 from $15.50. Piper Jaffray analyst Troy Jensen also downgraded JDSU following its report, lowering his rating on the stock to Neutral from Overweight. Jensen also said the company's worse than expected guidance indicates softer Telco spending and he believes JDSU will have trouble showing significant revenue acceleration even if the optical upgrade cycle starts to ramp up. Piper lowered its price target on the stock to $12 from $14. OTHERS TO WATCH: Other providers of telecom equipment include Ciena (CIEN) and Infinera (INFN). PRICE ACTION: In morning trading, shares of JDSU fell $1.12, or 9.4%, to $10.78. Meanwhile, shares of Finisar were down nearly 2% to $19.58, Ciena slipped 1.5% to $18.92 and Infinera was fractionally higher at $9.09.
09:37 EDTAAPLActive equity options trading on open
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07:19 EDTAAPLSiri creators working on new advanced AI system, Wired reports
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August 12, 2014
16:00 EDTAAPLOptions Update; August 12, 2014
iPath S&P 500 VIX Short-Term Futures down 20c to 31.65. Option volume leaders: AAPL MNKD TWTR TSLA KMI KATE MGM NFLX KO according to Track Data.
14:55 EDTTFrontier Communications confirms settlement with Connecticut AG over AT&T deal
Frontier Communications (FTR) announced it has reached an agreement with the Connecticut Attorney General and the Office of Consumer Counsel related to Frontierís proposed acquisition of AT&T's (T) incumbent local exchange operations and statewide fiber network that provides services to residential, commercial and wholesale customers in Connecticut. As part of the transaction, Frontier will also acquire AT&T's U-verse video and satellite TV operations in Connecticut. Highlights of the agreement state that for a period of not less than 36 months after the closing of the transaction (i) there will be no increases in the basic primary residential rate in effect for transferred exchanges as of the closing date; and (ii) where available, Frontier has agreed to offer its basic broadband and stand-alone basic broadband product at or below Frontierís current prices. In addition, Frontier has committed to incremental capital investments totaling $63M over 2015, 2016 and 2017 to expand and improve broadband in Connecticut.
13:19 EDTMSFTSony says 10M PS4 consoles have been sold since launch, TechCrunch reports
Sony has sold 10M units of the PlayStation 4 consoles to consumers since its launch last year, TechCrunch reports, citing comments made by Sony Computer Entertainment Europe CEO Jim Ryan at Gamescom 2014. Reference Link
09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GOOG C TSL EXAS BAC DNDN JNJ TSLA
06:24 EDTAAPLApple readies Healthkit launch despite complicated regulations, Reuters says
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06:19 EDTAAPLApple suppliers begin production of next-generation iPads, Bloomberg says
Apple suppliers began production of next-generation iPads as the tech firm looks to reignite the popularity of tablet computers after it experienced two consecutive quarters of sales declines, according to Bloomberg, citing people with knowledge of the matter. Reference Link
05:47 EDTAAPLApple December quarter margins likely down sequentially, says Piper Jaffray
Piper Jaffray says itís likely that Apple's December quarter margins decline quarter-over-quarter due to the impact of the updated iPhone 6. Piper does not view the potential margin decline as a long-term negative, however, noting that Apple showed with the iPhone 5S that margins can expand as the company moves away from new design launches. Piper says it remains a buyer of Apple shares with an Overweight rating and $105 price target.
August 11, 2014
16:00 EDTAAPLOptions Update; August 11, 2014
iPath S&P 500 VIX Short-Term Futures down 1.33 to 31.90. Option volume leaders: AAPL KMI MNKD PBR AMZN SCTY TWTR TSLA according to Track Data.
15:45 EDTTSpherix subsidiary settles with AT&T, files joint motion to dismiss
Spherix (SPEX) subsidiary Guidance IP has reached a settlement with AT&T (T), according to a court document filed August 7 in the U.S. District Court for the Northern District of Texas. The settlement stems from a lawsuit filed on December 6, 2013 by Spherix for infringement of its patent entitled, "System and Method for Determining the Geolocation of a Transmitter." Shares of small-cap Spherix are up 19% to $1.75 in later afternoon trading following the circulation of the court filing. Reference Link
15:19 EDTMSFTMicrosoft schedules event likely focused on Lumia phones, WMPoweruser says
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10:07 EDTAAPLVirnetX says court denies Apple motion in patent suit
VirnetX (VHC) announced that on August 8 the U.S. District Court for the Eastern District of Texas, Tyler Division, issued its patent claim construction, or "Markman" Order and ruled on a VirnetX motion in the ongoing patent infringement action between VirnetX and Apple (AAPL). Both parties had presented arguments on the disputed terms along with various other motions at a Markman hearing on May 20. In the Markman order, the court denied Apple's Motion for Summary Judgment of Indefiniteness, in which Apple alleged that some of the disputed claims terms in the patents asserted by VirnetX were invalid for indefiniteness. In a separate order, the court granted in part and denied in part VirnetX's Motion for Partial Summary Judgment on Apple's Invalidity Counterclaims. The court's order precludes Apple from asserting invalidity as a defense against infringement of the claims that were tried before a jury in VirnetX's prior litigation against Apple. Apple is not precluded from asserting invalidity as a defense against infringement of the claims that were not tried before a jury in the Apple I case. "We are extremely pleased with the court's rulings and we remain confident in the merits of our complaint against Apple," said Kendall Larsen, VirnetX CEO and President. "We believe the court's Markman Order and motion ruling represents another significant step towards the successful resolution of this litigation."
09:36 EDTAAPLActive equity options trading on open
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06:35 EDTMSFTMicrosoft Devices unveils low-cost Nokia 130 phone
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06:23 EDTAAPLGoogle testing "Listen Now" music ads, WSJ reports
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August 10, 2014
16:51 EDTAAPLCourt rejects $324M settlement in tech hiring conspiracy, NYT says
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