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Stock Market & Financial Investment News

News Breaks
June 7, 2013
16:26 EDTTIVO, LAMR, IRM, THO, BDBD, WMT, TWC, GOOG, CSCO, EQIXOn The Fly: Closing Wrap
Stocks on Wall Street were sharply higher after a better-than-expected jobs report pushed the averages higher at the open. The averages were higher throughout the session, moving towards their highs into the close, as each of the major equity indices logged gains for the week. ECONOMIC EVENTS: In the U.S., the Labor Department reported employers added 175K jobs in May, beating expectations for 163K added jobs. The unemployment rate rose slightly to 7.6% in May from 7.5% in April, with the uptick attributed to more people entering the workforce. COMPANY NEWS: TiVo (TIVO) confirmed it had settled a patent lawsuit with Google's (GOOG) Motorola unit, Cisco (CSCO) and Time Warner Cable (TWC), as reported by media outlets yesterday. The company also doubled its stock buyback authorization, but TiVo shares, which had been higher yesterday on the initial reports, fell $2.61, or 19.04%, to $11.10 as the amount of money the company received in the deal fell short of analyst expectations... Dow member Wal-Mart (WMT) advanced 70c, or 0.93%, to $76.33 after announcing a $15B share repurchase program, replacing the company's previous program announced two years ago. MAJOR MOVERS: Among notable gainers was Boulder Brands (BDBD), up $1.39, or 13.55%, to $11.65 after Imperial Capital initiated coverage on the stock with an Outperform rating and a $16 price target. Also higher was Thor Industries (THO), up $4.92, or 11.93%, to $46.16 after the company's first quarter earnings beat expectations. Among the losers were a number of companies that had hoped to convert to real estate investment trusts after the IRS formed a group to study issues relating to REIT conversions. Notable losers after this news were, Iron Mountain (IRM) which fell $5.45 or 15.84%, to $28.95, Lamar Advertising (LAMR), down $1.92, or 4.22%, to $43.62, and Equinix (EQIX) down $11.30, or 5.54%, to $192.57. INDICES: The Dow was up 207.50, or 1.38%, to 15,248.12; the S&P 500 was up 20.82, or 1.28%, to 1,643.38; the Nasdaq was up 45.17, or 1.32%, to 3,469.22.
News For TIVO;CSCO;GOOG;TWC;WMT;BDBD;THO;IRM;LAMR;EQIX From The Last 14 Days
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October 8, 2014
09:48 EDTGOOGGoogle says new movies can be pre-ordered, watched on first day of availibility
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09:38 EDTCSCOCisco breakup would not create much value, says Citigroup
Citigroup says its analysis shows that a breakup of Cisco would not create much more value than the current share price. With CEO John Chambers' likely retirement next year, however, Citi thinks the Cisco board is likely to at least entertain the option of a split. The firm sees a low probability of a breakup taking place and keeps a Sell rating on Cisco shares. Citi upped its price target for the stock to $22 from $20.50. Citi's analysis of Cisco follows breakup decisions by HP (HPQ) and JDSU (JDSU) and Bloomberg's report this morning that Symantec (SYMC) is in advanced talks to split into two separate companies. This report corrects the rating on Cisco shares to Sell.
07:46 EDTGOOGcomScore well positioned for change, says Brean Capital
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06:35 EDTCSCOCisco's reorganization affects up to 25,000 employees, Business Insider reports
Cisco's reorganization of its routing and switching engineering business could affect up to 25,000 employees, reports Business Insider. Citing sources in Silicon Valley, the reorganization involves massive changes for the unit, moving from individual teams to two big overarching teams with one group focused on software and the other on hardware. Due to the changes, sources say a lot of senior employees have begun send out resumes. Reference Link
October 7, 2014
13:45 EDTGOOGVringo says several important events scheduled for Q4
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13:40 EDTWMTWal-Mart to host a meeting
21st Annual Meeting for the Investment Community is being held on October 15 at 8:45 am. Webcast Link
13:33 EDTGOOGGoogle executive says Google+ here to stay, Re/code reports
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10:34 EDTWMTWal-Mart cutting health insurance coverage for most part-time workers, AP says
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09:18 EDTGOOGRackspace partnership with Google positive for sentiment, says Wells Fargo
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09:03 EDTGOOGRackspace to offer managed IT services support for full Google Apps for Work
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08:03 EDTGOOGVonage announces appointment of Alan Masarek as CEO
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07:48 EDTGOOGU.S. Chamber of Commerce to hold a discussion
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07:36 EDTCSCOCisco unlikely to split-up despite speculation, says UBS
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06:52 EDTCSCOAruba Networks may be displacing Cisco in some verticals, says RBC Capital
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06:07 EDTGOOGYouTube may still be interested in programming for kids, Re/code reports
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October 6, 2014
11:02 EDTCSCOHP rises as split viewed as potential prelude to deals
Shares of HP (HPQ) are climbing after the company announced that it would split itself into two publicly traded companies. Analysts were mostly upbeat on the news and tech news website Re/code said that the two companies would be "in deal-making mode" following the split. WHAT'S NEW: HP this morning said it would split itself into two companies by the end of its fiscal 2015. One company will include HP's technology infrastructure, software and services businesses, to be known as "Hewlett-Packard Enterprise," while the other will include the company's PC and printing businesses and be called "HP Inc." Meg Whitman, who is currently the CEO of HP, will become CEO of Hewlett-Packard Enterprise and chairman of HP, Inc. ANALYST REACTION: Shareholders will likely view the move positively, as limited synergies exist between HP's enterprise business and its PC and printing business, Deutsche Bank analyst Sherri Scribner wrote. Moreover, the forward price to earnings ratio of the enterprises unit, whose margins are set to expand, are more likely to reach close to 11x following a split, in-line with the multiple of Xerox (XRX) and CSC (CSC), the analyst contended. Noting that HP remains one of the cheapest names in the S&P 500, Scribner kept a $40 price target and Buy rating on the shares. The split is "a bold and smart move" by HP that will give it the financial flexibility needed to sell off one or both of the PC and printing businesses, wrote Cantor analyst Brian White. The shareholders of EMC (EMC), which reportedly had been in discussions about merging with HP, would have difficulty accepting HP's printer and PC business, according to White. The analyst raised his price target on HP to $39 from $34.50 but kept a Hold rating on the stock. WHAT'S NOTABLE: Both Hewlett-Packard Enterprise and HP Inc. will "be in deal-making mode" after the split, Re/code stated. HP Inc. is likely to draw attention from both Dell and China's Lenovo (LNVGY), which were both approached by HP about a possible deal over the last year, the website stated. Meanwhile, Hewlett-Packard Enterprise could restart dormant merger talks with EMC, while Dell and Cisco (CSCO) could emerge as bidders and offer shareholders of both Hewlett-Packard Enterprise and EMC better terms, Re/code stated. However, Cisco has carried out a more conservative M&A strategy lately, while its CEO, John Chambers, who is preparing to retire soon, said the company would not be interested in buying EMC, Re/code noted. PRICE ACTION: In mid-morning trading, HP jumped 4.6% to $36.83, while shares of EMC were down fractionally.
07:50 EDTCSCOCisco shares could reach $40 with splits, spin-offs, says RBC Capital
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06:38 EDTCSCOSpun off HP companies could be takeover targets, Re/code says
After HP (HPQ) splits into two publicly traded companies, both of those companies could become takeover targets, according to Re/code. The PC and printing unit could interest Dell or Lenovo (LNVGY), while Hewlett-Packard Enterprises could merge with EMC (EMC) and/or become a target for Dell and Cisco (CSCO), the website stated. Reference Link
06:21 EDTGOOGMicrosoft 2015 solution may not help suppress Chromebook growth, DigiTimes says
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05:10 EDTWMTWal-Mart working with DirectHealth.com to introduce health insurance program
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