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Stock Market & Financial Investment News

News Breaks
January 17, 2013
12:04 EDTTRIP, BBYStocks with call strike movement; TRIP BBY
TripAdvisor (TRIP) March 49 call option implied volatility increased 3% to 51, Best Buy (BBY) June 17 call option implied volatility decreased 2% to 46 according to iVolatility.
News For TRIP;BBY From The Last 14 Days
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July 25, 2014
05:16 EDTTRIPTripAdvisor to acquire Viator for about $200M
TripAdvisor announced it has entered into an agreement to acquire Viator. Viator features more than 20,000 bookable tours and attractions and more than 600,000 reviews, photos, and videos submitted by travelers. Viator has more than 250 employees who will continue to work at the company's headquarters in San Francisco and offices in Las Vegas, London and Sydney. The acquisition is expected to close during Q3. Upon closing, Viator will be the fourth acquisition in 2014, following lafourchette, Tripbod, and Vacation Home Rentals. The purchase price for the transaction is approximately $200M, subject to adjustment, and will be payable substantially in the form of cash.
July 24, 2014
12:32 EDTTRIPOn The Fly: Midday Wrap
Stocks on Wall Street were slightly higher at midday amid another wave of earnings reports, headlined by Facebook (FB), Caterpillar (CAT), General Motors (GM) and Ford (F). The market has moved in a narrow range as investors try to digest the bevy of earnings reports that were released last night and this morning. The market has also had to battle a negative economic report on new home sales, which not only disappointed in June but saw the prior month revised lower as well. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 19K to 284K in the week ended July 19. While the BLS said there were no special factors in the claims data, they also reminded that the numbers can be very volatile at this time of year due in part to auto shutdowns. Markit's flash U.S. PMI for July dipped 1 point to 56.3 from 57.3 in June. June new home sales fell 8.1% to a 406K rate, which was worse than expected, and May's data was downwardly revised. In China, HSBC's flash manufacturing Purchasing Managers' Index rose to 52 in July from 50.7 a month earlier. COMPANY NEWS: Facebook achieved a new all-time high and its share price eclipsed $76, a level that was more than double the price of its initial public offering, after its revenue and profits beat expectations. After the report a number of Wall Street analysts hiked their price targets on the stock, with Jefferies and Topeka both raising their targets on the social network operator's stock to $100... Shares of General Motors declined more than 3% after its earnings per share, excluding special items, missed consensus expectations and its revenue also fell short of the analysts' forecast. The company took a $400M special charge related to its ignition switch compensation program, but cautioned that there is no cap on this program and it is possible the total cost could increase by another $200M. Also, GM recorded a non-cash pre-tax special charge of about $900M in the second quarter for the estimated costs of future possible recalls for "up to the next 10 years on 30M GM vehicles on the road today." In contrast, Ford reported earnings per share, excluding special items, and revenue that beat expectations and its stock rose 1%... Caterpillar dropped over 3% after its quarterly revenue missed expectations and it narrowed its outlook for full-year revenue. However, the heavy machine maker's earnings did beat the consensus forecast and it raised it fiscal year profit outlook. MAJOR MOVERS: Among the notable gainers was Sodastream (SODA), which jumped nearly 20% after Bloomberg said the home beverage system maker is in talks with an investment firm on deal that would make it a private company and value it at about $828M, or $40 per share. Also higher following their earnings reports were Under Armour (UA), which rose 15%, and Dr. Pepper Snapple (DPS), which gained 5%. Among the noteworthy losers following their earnings reports were homebuilder DR Horton (DHI), which fell 10%, online travel company TripAdvisor (TRIP), which dropped 9%, and semiconductor chip maker Qualcomm (QCOM), which slid 6%. Also lower was review service operator Angie's List (ANGI), which plunged 19% after reporting second quarter losses per share and revenue that were worse than expected, prompting a number of downgrades of its stock by Wall Street analysts. INDEXES: Near midday, the Dow was up 8.25, or 0.05%, to 17,094.88, the Nasdaq was up 6.10, or 0.14%, to 4,479.80, and the S&P 500 was up 2.98, or 0.15%, to 1,989.99.
10:24 EDTTRIPTripAdvisor tumbles after earnings miss, levels to watch
The shares are down over 10.6% to $95.96 following a miss on Q2 earnings last night after the close. Cantor downgraded the shares to Hold in the wake of results, with Deutsche Bank, Pacific Crest, and Piper Jaffray calling share declines a buying opportunity. At current price next support is at $95.26, the session low. Resistance is at $96.96.
10:03 EDTTRIPOn The Fly: Analyst Downgrade Summary
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09:36 EDTTRIPActive equity options trading on open
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09:16 EDTTRIPOn The Fly: Pre-market Movers
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07:49 EDTTRIPTripAdvisor sell-off a buying opportuntiy, says Deutsche Bank
Deutsche Bank says it would take "aggressive advantage" of the post-earnings pullback in shares of TripAdvisor. The firm reiterates a Buy rating on the stock with a $122 price target.
07:19 EDTTRIPTripAdvisor shares should be bought on weakness, says Pacific Crest
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06:40 EDTTRIPTripAdvisor downgraded to Hold from Buy at Cantor
Cantor downgraded TripAdvisor to Hold due to valuation following mixed Q2 results. Price target remains $94.
05:58 EDTTRIPTripAdvisor pullback a buying opportunity, says Piper Jaffray
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July 23, 2014
18:34 EDTTRIPOn The Fly: After Hours Movers
UP AFTER EARNINGS: Fortinet (FTNT), up 7.8%... Hanesbrands (HBI), up 5.4%... 8x8 (EGHT), up 5.1%... Infinera (INFN), up 4.9%... Facebook (FB), reverses and is now trading up 5.1% following second quarter earnings conference call. NOTABLE: Twitter (TWTR), up 1.7%, LinkedIn (LNKD), up marginally, and Yelp (YELP), up 1.6% after Facebook reports second quarter results. ALSO HIGHER: Spectranetics (SPNC), up 7.1% after receiving FDA clearance for atherectomy products, Turbo-Tandem and Turbo Elite... Ariad Pharmaceuticals (ARIA), up 7.1%... Jamba (JMBA), up 3.8% after Engaged Capital reports stake in the company and announced that they had discussions with management. DOWN AFTER EARNINGS: AT&T (T), down 1.2%... Angie's List (ANGI), down 16.4%... Tripadvisor (TRIP), down 11.5%... Orchids Paper (TIS), down 7.4%... Cirrus Logic (CRUS), down 6.6%... Cliffs Natural (CLF), down 1.2%... Teradyne (TER), down 4%. ALSO LOWER: Kandi Technologies (KNDI), down 3.8% after being mentioned negatively in a Seeking Alpha blog post.
16:49 EDTTRIPTripAdvisor sees FY14 revenue growth in high 20s to low 30s
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16:26 EDTTRIPTripAdvisor drops 8% to $99.25 after Q2 earnings miss expectations
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16:04 EDTTRIPTripAdvisor reports Q2 EPS 55c, consensus 61c
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15:30 EDTTRIPNotable companies reporting after market close
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14:01 EDTTRIPTripAdvisor July weekly 107 straddle priced for 7.2% move into Q2
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11:24 EDTTRIPIndustry data points to strong Q2 for online travel names, says Piper Jaffray
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July 22, 2014
09:13 EDTTRIPAmazon HomeAway TripAdvisor should be bought into results, says Pacific Crest
Pacific Crest expects TripAdvisor (TRIP), Amazon (AMZN) and HomeAway (HOME) to report strong Q2 results. The firm thinks that all three companies have strong fundamentals.
06:58 EDTTRIPTripAdvisor volatility elevated into Q2 and outlook
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July 21, 2014
10:45 EDTBBYAnalysts roll out coverage on GoPro with differing views
Shares of GoPro (GPRO) are climbing after a number of analysts initiated coverage of the stock with different outlooks. GoPro develops mountable and wearable cameras. BULLISH TAKE: JPMorgan analyst Paul Coster initiated coverage of GoPro with an Overweight rating. GoPro is gaining share in the digital camcorder market, and it has begun to penetrate "active lifestyle" markets, which are a much larger opportunity for the company, Coster believes. The company could ship 10M of its products for use by active lifestyle participants annually, the analyst estimated. In a best case scenario, the company could also sell low-cost devices for the mass market, according to Coster. However, GoPro will face competition from major companies, including Google (GOOG) and possibly Apple (AAPL) in this market, warned Coster, who set a $51 price target on GoPro. Also initiating coverage of the name with an Overweight rating was Piper Jaffray analyst Sean Naughton. GoPro is in the early stages of growth, as the company's user base is poised to expand beyond extreme sports enthusiasts, the analyst forecast. The company has a competitive advantage over other brands, which should enable it to maintain strong profitability, added Naughton, who set a $48 price target on the shares. BEARISH TAKE: Stifel analyst Jim Duffy started coverage of GoPro with a Hold rating. The company's three year growth outlook is compelling, but the stock is fully valued, the analyst believes. The company faces a number of risks, including competition in the image device market and the possibility that its relationship with key channel partners, including Best Buy (BBY), could be disrupted, the analyst wrote. Sales to Best Buy accounted for 17% of GoPro's revenue in fiscal 2013, Duffy reported. After GoPro surged following its initial public offering, the stock is likely to advance by only limited amounts, wrote Barcalys analyst Joseph Wolf, who initiated coverage of the shares with an Equal Weight rating. The stock could fall to $30 if the company is unable to increase its hardware sales or make progress in its efforts to develop a media business, the analyst warned. He set a $45 price target on the shares. PRICE ACTION: A total of seven analysts rolled out coverage today on GoPro, according to The Fly’s research, with only two recommending the stock with buy-equivalent ratings. Shares of the camera marker are up 3%, or $1.10, to $42.53 in morning trading.
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