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Stock Market & Financial Investment News

News Breaks
January 8, 2013
06:12 EDTGM, SHCAY, TM, REIS, HMC, INTC, NSANYOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: India proposed major curbs on the import of technology products ranging from laptops to Wi-Fi devices to computer-network equipment. The proposed regulations would create a "Buy India" mandate requiring a large percentage of tech goods sold in the country to be manufactured there, the Wall Street Journal reports...Japanese car companies (TM, NSANY, HMC) are regaining their confidence in the Chinese market, setting strong growth targets for 2013 after last year's sales were disrupted by cross-border tensions, the Wall Street Journal reports...REUTERS: Sharp Corp. (SHCAY) is considering new ways to shore up its finances but is not talking with Intel Corp. (INTC) now about any investment, according to a senior Sharp executive, Reuters reports...U.S. apartment vacancies dropped and rents climbed again in Q4, continuing a years-long trend that is likely to encourage more affluent renters to buy homes this year, according to real-estate research firm Reis Inc. (REIS), Reuters reports...BLOOMBERG: GM (GM) will likely maintain its position in the U.S. after its market share fell to the lowest since 1924. GM may end this year with a 17.9% U.S. market share, in line with where it finished 2012, according to a survey of five analysts by Bloomberg...Japanese pension funds will more than double their gold holdings in the next two years as the new government pushes for a higher inflation target, Bloomberg reports.
News For TM;NSANY;HMC;SHCAY;INTC;REIS;GM From The Last 14 Days
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February 26, 2015
10:39 EDTTM, GM, HMC, NSANYOrbital ATK selected by 10 automakers to investigate Takata airbags
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06:42 EDTGMGeneral Motors to stop making cars in Indonesia, Reuters says
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06:30 EDTINTCARM Holdings looking to expand to Internet of Things, servers, WSJ reports
ARM Holdings (ARMH) is trying to break into the nascent Internet of Things market and the server segment, according to The Wall Street Journal. In the server market, ARM is looking to take share from Intel (INTC), the newspaper stated. Reference Link
06:26 EDTINTCCiti sees downside risk to consensus estimates for Intel
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February 25, 2015
10:34 EDTINTCHP slide after currency driven guidance cut called buying opportunity
The shares of Hewlett-Packard (HPQ) are falling after the company reported lower than expected first quarter revenue and sharply lowered its free cash flow guidance and cut its fiscal year profit view. However, analysts at Citigroup, Bernstein, and Brean Capital all recommended buying the stock on weakness in separate notes to investors today. BACKGROUND: HP reported slightly higher than expected Q1 profits, but its revenue came in below expectations. The company sharply lowered its fiscal 2015 free cash flow guidance to $3.5B-$4B from its previous outlook of $6.5B-$7B. The tech giant also lowered its fiscal 2015 EPS guidance to $3.53-$3.73 from its previous outlook of $3.83-$4.30. "While we were able to manage the impact of currency in the quarter and deliver earnings as expected, we believe the impact on FY15 will be significantly greater than we anticipated in November. We'll work hard to offset these impacts through re-pricing and productivity, but fully mitigating currency movements of this size would require reducing investments and mortgaging our future. We won't do that," said HP CEO Meg Whitman. ANALYST REACTION: The decline in HP's EPS guidance was entirely due to foreign currency fluctuations, while most of the cut in its free cash flow guidance was caused by one-time costs related to the upcoming split of HP into two separate companies, Citi analyst Jim Suva stated. Most of the company's businesses "continue to perform well or at least make progress," wrote Suva. The decline in the stock has created an attractive entry point for investors who are looking to own the shares in order to benefit from the break-up, according to the analyst. He kept a Buy rating on the shares. Bernstein analyst A.M. Sacconaghi was less upbeat on HP's outlook, but also recommended buying the shares on today's weakness. Although revenue estimates for HP may be too high, the stock's valuation remains attractive, as it is the second least expensive tech stock in the S&P 500, according to Sacconaghi, who believes the shares are worth $45-$50. Cautioning that HP's stock is likely "to be in the penalty box" in the near-term, Sacconaghi nonetheless believes that the shares could get a significant boost when the company provides more information about its spin-off. He recommended that investors buy the stock on today's weakness and kept an Outperform rating on the shares. HP's fundamentals haven't changed, as the company continues to expect its revenue to remain flat in fiscal 2015, and it has not changed its capital return guidance, Brean Capital analyst Ananda Baruah stated. The company also continues to expect free cash flow of at least $5B-$6B in 2016 and beyond, Baruah added. Moreover, HP's share repurchases are unlikely to be significantly reduced as a result of the decline in its free cash flow guidance, the analyst predicted. Baruah recommended buying the stock on today's weakness and kept a $45 price target and Buy rating on the shares. PRICE ACTION: In early trading, HP fell 9.5% to $34.84. OTHERS TO WATCH: Other large cap PC levered names are also weak in morning trading after HP's report last night, with Microsoft (MSFT) down 0.25% and Intel (INTC) down 1.2%.
09:25 EDTINTCCisco, Apple among U.S. names cut from China state buying list, Reuters says
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07:27 EDTINTCThe Linley Group to hold a conference
Linley Data Center Conference 2015 is being held in Santa Clara, California on February 25-26.
06:33 EDTTMToyota says union salary demands 'impossible,' Reuters reports
Toyota said today that it would not be able to meet union demands for a $112 increase in monthly pay, according to Reuters. The statement came at the end of the first day of the company's talks with worker representatives, the news service stated. Reference Link
February 24, 2015
13:13 EDTHMC, TM, GMTesla Model S named 'best overall' by Consumer Reports
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February 23, 2015
10:40 EDTGMGM ignition-switch deaths increase to 57, WSJ says
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09:59 EDTINTCOn The Fly: Analyst Initiation Summary
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08:46 EDTINTCIntel initiated with an Outperform at Exane BNP Paribas
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06:24 EDTGMGeneral Motors to legally challenge worker strike in Brazil, WSJ reports
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06:03 EDTHMCHonda says Takanobu Ito to step down as CEO, Takahiro Hachigo named new CEO
Takanobu Ito is stepping down as president and CEO of Honda, the company announced in a press release. Takahiro Hachigo, Honda's managing officer, will take over as president and CEO in June.
February 22, 2015
14:20 EDTGMUAW chief says GM buyback proposal too much, premature, Reuters says
Dennis Williams, the president of the UAW, said that an investor groupís proposal that GM buy back $8B of its stock is premature, and the amount too high for the companyís long-term health, says Reuters. The UAW indirectly controls the largest single block of General Motors shares, added Reuters. Reference Link
February 20, 2015
08:11 EDTGMAlly CEO exploring subprime lending, sees loss of GM business, Detroit News says
Ally (ALLY) CEO Jeffrey Brown stated in a Thursday interview with The Detroit News that the company may return to offering credit cards and home mortgages, and currently plans to expand auto lending to subprime customers. The CEO said he expects to decide within 30-60 days whether Ally will consolidate its five locations to a single headquarters in the Detroit suburbs. Brown added that he expects GM (GM) to shift its $4.1B subsidized leasing program for Chevrolet from Ally to GM Financial, which the Ally CEO wants to offset by increasing subprime lending from 9% of total lending to 12%-15%. Reference Link
07:30 EDTHMCHonda cuts production by another 5,000 due to U.S. port strikes, Reuters says
Honda Motor Co stated it will lower production at two factories in Indiana and Canada from February 24 to March 2 due to a parts shortage brought on by continuing U.S. port strikes, reports Reuters, citing a Honda spokesperson. Total output loss for the two factories -- which mainly produce Civics -- will be roughly 5,000 cars, while total output loss for the company from February 16 to 23 will be roughly 20,000 cars. The spokesperson said supply will be "a little bit better next week" due to air deliveries. Reference Link
07:04 EDTGMAlly CEO assuming company will lose all of GM's leasing business, Reuters says
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06:41 EDTGMApple pushing for 2020 production of its electric car, Bloomberg says
Apple (AAPL) is pushing to begin production of its electric vehicle as soon as 2020, reports Bloomberg, citing people with knowledge of the matter. Bloomberg notes that the move could put Apple into direct competition with Tesla (TSLA) and General Motors (GM), both of which are targeting a 2017 release for next-generation electric vehicles. Apple may still cancel the project if it becomes unhappy with progress, the sources said, though its vehicle team is already 200-people strong. Reference Link
06:06 EDTGMGeneral Motors names Craig Glidden as new general counsel
General Motors (GM) announced yesterday that Craig B. Glidden has been appointed executive VP and general counsel, effective March 1. Glidden will lead a team of staff attorneys who are integrated into all of GMís regional and functional teams in more than 30 countries. Glidden succeeds Michael Millikin, who is retiring in July after a nearly four-decade legal career, including five years as GMís general counsel. Before joining GM, Glidden was executive VP and chief legal officer for LyondellBasell Industries (LYB).
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