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Stock Market & Financial Investment News

News Breaks
April 24, 2012
16:54 EDTAFFY, MMM, T, NFLX, ALGN, UTX, BIG, IBM, AAPLOn The Fly: Closing Wrap
Stocks on Wall Street were mixed, with AT&T (T) supporting the Dow and Apple (AAPL) dragging on the Nasdaq. Stock futures were higher in pre-market trading but the Nasdaq futures moved lower as shares of Apple turned down. The futures action led to a mixed open for the broader market, which is the way it remained for most of the session. Early in the day the new home sales report showed that home sales declined but an upward revision to previous months' figures pushed the annual sales rate above expectations. All three major indices moved higher briefly after that report, but they soon turned mixed again, where they would drift for the rest of the day... ECONOMIC EVENTS: In the U.S., new single-family home sales dropped in March but the sales rate beat analysts' expectations as the government upwardly revised its sales figures for prior months, resulting in a seasonally adjusted 328,000-unit annual sales rate. The S&P/Case Shiller 20-city composite home price index fell to its lowest level since the housing market downturn began, but on a seasonally adjusted basis the index gained 0.2% in February. U.S. consumer confidence slipped a bit in April to 69.2, versus expectations of a 69.6 reading. The Richmond Fed manufacturing index rose to 14 from 7 a month ago... COMPANY NEWS: AT&T, United Technologies (UTX) and 3M (MMM) all rose after reporting earnings that beat consensus. Also powering the Dow higher were shares of IBM (IBM), rising 0.69% after the company increased its dividend and share repurchase authorization... MAJOR MOVERS: Among the notable gainers were Align Technology (ALGN), up $4.32, or 15.74%, to $31.76, after its earnings and guidance beat the Street's view, and Affymax (AFFY), up $1.36, or 11.73%, to $12.95, after announcing that its OMONTYS Injection is now available only for use in treating anemia due to chronic kidney disease in adult patients on dialysis. Noteworthy losers included Big Lots (BIG), down $11.00, or 24.06%, to $34.71, after the company lowered its same store sales view, and Netflix (NFLX), down $14.16, or 13.90%, to $87.68, following its earnings report... INDICES: The Dow rose 74.39, or 0.58%, to 13,001.56; the Nasdaq dropped 8.85, or 0.30%, to 2,961.60; and the S&P 500 added 5.03, or 0.37%, to 1,371.97.
News For T;AAPL;UTX;MMM;IBM;ALGN;AFFY;BIG;NFLX From The Last 14 Days
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July 20, 2015
14:54 EDTUTXUnited Technologies July weekly volatility increases into Q2 and outlook
United Technologies July weekly call option implied volatility is at 25, August is at 14, September is at 17; compared to its 52-week range of 12 to 26, suggesting large near term price movement into the expected release of Q2 results on July 21.
13:47 EDTUTXUnited Technologies technical notes ahead of earnings
The stock has been in a downtrend since hitting the 52-week high at $124.45 back in February. Weaker than expected earnings or outlook could keep the downtrend intact. In that event next support based on the current price of $109.98 would be at $107.95 which was a recent pivot low. A further break could see the following support levels become additional downside objectives: $104.86, $100.69, and $97.30 which is the 52-week low. If the news is a bullish surprise, the first important resistance level would be at the $113 area. A move above that level would break the existing downtrend. Additional resistance levels to watch as potential upside objectives would be at $115, $117.03, and $119.07.
13:37 EDTAAPLApple July weekly volatility increases into Q3 and outlook
Apple July weekly call option implied volatility is at 56, August is at 31, October is at 26; compared to its 52-week range of 15 to 36, suggesting large near term price movement into the expected release of Q3 results on July 21.
13:28 EDTAAPLSamsung most popular smartphone maker in Q2, TrendForce says
Samsung (SSNLF) was the most popular smartphone maker in the second quarter, even though the smartphone market has started to slow down, according to data from research firm TrendForce. Smartphone shipments will grow 8.2% year over year in 2015, though that's down from the previously anticipated growth rate of 11.6%, the report says. Samsung has led in smartphone shipments with a second-quarter growth of 26.8%. However, Galaxy S6 and S6 Edge's annual shipment forecast has been marked down repeatedly. TrendForce has also revised Samsung's annual smartphone shipments downwards to 45M units this year. As Chinese vendors are taking more shares of the low- to mid-range product market, Samsung's ability to reverse its fortune may hinge on the success of its Galaxy Note 5. If this device is able to attract consumers with upgraded specs and new features, then Samsung will avoid the high possibility of negative shipment growth for this year. Apple (AAPL) rode on the popularity of iPhone 6 and iPhone 6 Plus in this year's first half and achieved a remarkably strong shipment result in the off-peak season. The next-generation iPhone due to be launched this year offers no major changes in appearance, but Apple has given the device a new A9 processor and upgraded its memory to 2GB LPDDR4 for the first time. These improvements along with the Force Touch module and a camera featuring a possible resolution of 12MP will give the next iPhone a huge boost. Thus, TrendForce's iPhone shipment forecast for this year continues to be very positive with a high growth of 15% upwards. Lenovo (LNVGY) has fallen to No. 6 in the global shipment ranking and is expected to see a 20%-30% decline in this year's shipments. Lenovo's market share did not double as anticipated after its takeover of Motorola in 2014. Moreover, Lenovo did not have a well-defined product positioning strategy and the brand faced strong competition from challengers offering lower-priced smartphone models.
12:40 EDTAAPL, IBMEarnings Watch: IBM up 4% since last quarterly report
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12:08 EDTUTXOn The Fly: Top stock stories at midday
Stocks on Wall Street were slightly higher at midday in the first trading day of a week that will be light on domestic economic data but heavy on earnings reports. Investors will be receiving profit reports from about 25% of the companies on the S&P 500 this week, making this the highest volume earnings week of this season. ECONOMIC EVENTS: In the U.S., no major data was released. In Europe, Greece reopened its banks three weeks after closing as the country worked out another bailout agreement. The country announced it has started the process of paying off its creditors, including the European Central Bank and the International Monetary Fund, with a bridge loan it just received. COMPANY NEWS: Lockheed Martin (LMT) agreed to buy the Sikorsky Aircraft business from United Technologies (UTX) for $9B, noting the price is "effectively reduced" to $7.1B after taking into account tax benefits resulting from the transaction. Shares of Lockheed, which also reported better than expected second quarter results and increased its fiscal year guidance, gained nearly 2% after the Sikorsky announcement and saying it will conduct a strategic review of its government IT infrastructure services business and technical services business... Shares of Morgan Stanley (MS) shares were little changed near noon after the bank reported earnings and revenue, excluding certain adjustments, that topped analysts' consensus forecasts... SunEdison (SUNE) announced a deal to acquire Vivint Solar (VSLR) for approximately $2.2B, payable in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes. In connection with the proposed acquisition of Vivint Solar, SunEdison has entered into a definitive purchase agreement with a subsidiary of TerraForm Power (TERP) which, concurrently with the completion of SunEdison's acquisition of Vivint, will acquire Vivint Solar's rooftop solar portfolio, consisting of 523 MW expected to be installed by year-end 2015, for $922M in cash. Shares of Vivint rose 44% following the announcement, while SunEdison's stock gained 4% and TerraForm dropped 3%. Fellow residential solar installer SolarCity (SCTY), which is backed by Tesla's (TSLA) Elon Musk, rose 7% following the deal in the space. MAJOR MOVERS: Among the notable gainers was Exelixis (EXEL), which rallied 43% after the company reported that a study of cabozantinib in metastatic renal cell carcinoma met its primary endpoint of significant improvement in progression-free survival. The shares were indicated to rise even more in early pre-market trading, but lost some of their gains after Bristol-Myers (BMY) announced that its Opdivo study was stopped early after showing superior overall survival in a Phase 3 study of previously treated patients with advanced or metastatic renal cell carcinoma. Bristol-Myers rose a bit less than 1% to trade near $70 per share after its own announcement. Also higher was PayPal (PYPL), which gained more than 5.5% in its first day of trading after being spun out of eBay (EBAY). Meanwhile, eBay shares rose over 2%. Cal-Maine Foods (CALM) dropped 8% after posting lower than expected sales and profits in its fourth quarter and warning that while it should have an adequate supply of its primary feed ingredients, the company expects that prices will be "volatile" in the year ahead. Also lower were shares of several gold miners, including Barrick Gold (ABX) and Newmont Mining (NEM), which each fell about 11%, as gold prices declined about 2% near midday. INDEXES: Near midday, the Dow was up 31.66, or 0.18%, to 18,118.11, the Nasdaq was up 9.81, or 0.19%, to 5,219.96, and the S&P 500 was up 2.82, or 0.13%, to 2,129.46.
10:45 EDTIBMIBM technical comments ahead of earnings
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10:13 EDTNFLXOptions with decreasing implied volatility
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10:07 EDTAAPLApple rallies ahead of earnings
Shares are up over 1.3% to $131.41 at time of writing. At that price next resistance is at $134.54, the life high. Support is at $130.50.
09:53 EDTNFLXNetflix falls to session lows, levels to watch
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09:34 EDTNFLX, AAPLActive equity options trading on open
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07:43 EDTUTXLockheed Martin to acquire Sikorsky Aircraft business for $9B
United Technologies (UTX) announced that it has reached an agreement to sell its Sikorsky Aircraft business to Lockheed Martin (LMT) for $9B in cash. The transaction, which is subject to regulatory approvals and customary closing conditions and adjustments, is projected to close by year-end or in the Q1 of FY16. Proceeds from the sale are expected to be used to fund additional share repurchase to offset the earnings impact related to the sale. The company will discuss this transaction at its previously scheduled conference call with investors. In addition, UTC's Board of Directors has authorized a share repurchase program for up to 75M shares of the company's common stock, which would be worth approximately $8.3B based on the NYSE closing price of UTC shares on July 17. The new authorization replaces a previous program, approved in February 2013, which was nearing completion. The precise timing and amount of repurchases will be determined based on the company's evaluation of market conditions and other factors, and the program may be suspended or discontinued at any time.
06:48 EDTAAPLApple in talks to create free streaming TV channel, NY Post reports
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06:39 EDTAAPLNew iPods won't run Apple Music to prevent piracy, 9to5Mac reports
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06:31 EDTAAPLAnalysts down on Apple Watch sales, AFP reports
Certain analysts have said that Apple's new smartwatch is not a mainstream hit due its disappointingly low sales figures, AFP reports. A study from Slice Intelligence suggests that Apple Watch orders have decreased 90% since the week the device made its debut, the report says. In response, BMO Capital Markets said it told investors that they were "disappointed" and reduced their estimate for Apple Watch sales in the upcoming year, the report adds. Richard Windsor at Edison Investment Research said that even if Slice is off the mark about the plunge in Apple Watch orders, it was evident that the wearable has sold way less than even conservative expectations, AFP says. Reference Link
06:22 EDTAAPLApple July weekly volatility elevated into Q3 and outlook
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05:57 EDTAAPLApple iPhone momentum to continue in June quarter, says Piper Jaffray
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July 19, 2015
20:33 EDTUTXMedia reports say Lockheed to buy UTX's Sikorsky
According to media reports, Lockheed Martin (LMT) has agreed to purchase United Technologies' (UTX) Sikorsky unit. The news comes after several months of speculation surrounding Sikorsky, and an announcement could be made just a day prior to second quarter earnings for both United and Lockheed. WHAT'S NEW: Reuters reported on Sunday that Lockheed Martin has agreed to buy Sikorsky Aircraft from United Technologies for over $8B, according to two sources, adding that the deal is set to be formally announced on Monday. The news was later echoed by Bloomberg, citing a person familiar with the talks. WHAT'S NOTABLE: United Technologies first reported that it was exploring strategic options for its Sikorsky unit on March 11. At the time, the company noted that options included a spinoff or a stand-alone public company, saying that the split could allow United "to better focus on providing high-technology systems and services to the aerospace and building industries." Following the announcement, UBS remarked that it was "not surprised" and reiterated a $136 price target on United shares. On May 20, the Wall Street Journal quoted sources as saying Boeing (BA), Airbus (EADSY) and Lockheed submitted bids for the helicopter maker, with a speculated deal thought to reach the $10B area. A June 9 report from Reuters added Textron (TXT) to the list of bidders. Today's news -- though unconfirmed by either United or Lockheed -- comes ahead of second quarter earnings reports for both companies scheduled for Tuesday, July 21. PRICE ACTION: Shares of Lockheed Martin declined 0.22% to $201.18 at the close of trading on July 17, while those of United Technologies fell 0.45% to $110.76.
15:31 EDTUTXLockheed Martin to buy Sikorsky for over $8B, Reuters says
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14:09 EDTAAPLIntel chip delay could spell opportunity or disaster, Barron's says
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