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Stock Market & Financial Investment News

News Breaks
February 12, 2013
06:55 EDTTW, TW, TW, EBAY, EBAY, EBAY, EMC, EMC, EMC, BRCM, BRCM, BRCM, DASTY, DASTY, DASTY, GME, GME, GME, NSR, NSR, NSR, SNDK, SNDK, SNDK, TECD, TECD, TECDGoldman to host a conference
Technology & Internet Conference is being held in San Francisco on February 12-14.
News For TW;EBAY;EMC;BRCM;DASTY;GME;NSR;SNDK;TECD From The Last 14 Days
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July 22, 2014
09:28 EDTEMCEMC spin-off of VMware unlikely at this point, says Janney Capital
Following the report of Elliott taking a stake in EMC (EMC) and pushing for a break-up to unlock value, Janney Capital said it does believe that a spin-off of VMware (VMW) could help improve EMC's multiple but that the firm thinks such a move is not likely at this point. Janney adds that while it views a spin-off as unlikely, other shareholder-friendly responses, such as a dividend boost or increased share buybacks, are possible. The firm keeps its Buy ratings on both EMC and VMware.
09:06 EDTEMCEMC price target raised to $33 from $28 at BofA/Merrill
BofA/Merrill raised EMC's (EMC) price target to $33 following reports that Elliott Management has taken a 2% stake in the company and is targeting a spin-off of the VMware (VMW) stake. The analyst believes EMC is undervalued without VMware and sees potential for 25% upside if a spin-off were to occur. Shares are Buy rated.
06:56 EDTEMCElliot Management to consider activist options for EMC, NY Times reports
Elliot Management is expected to consider a push for the breakup of EMC (EMC) and spinoff VMware (VMW), reports the New York Times. Citing people briefed on the matter, the hedge fund is expected to meet with EMC executives this week after the company reports its quarterly earnings to determine whether to undertake a full-bore activist campaign. Reference Link
06:05 EDTEBAYeBay implied volatility of 18 at lower end of index mean range
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July 21, 2014
16:22 EDTEMCOn The Fly: Closing Wrap
Stocks on Wall Street began the trading day in negative territory and remained there through nearly the whole session. The market action was influenced more by the geopolitical events in Russia and Israel than by the upcoming avalanche of earnings scheduled for release throughout the week. Despite the weak open and subsequent drop during the first hour of trading, the market drifted off its lows and managed to pare its losses, even turning mixed for a short time. The averages dipped again heading into the bell, though they closed well of their worst levels. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity Index dipped to 0.12 in June from a reading of 0.16 in May. COMPANY NEWS: Allergan (AGN) rose $3.74, or 2.23%, to $171.14 after the company's Q2 results and its FY14 outlook beat expectations. The company, which is working to fend off a proposed acquisition by Valeant Pharmaceuticals (VRX), also announced plans to cut its workforce by 13%, or about 1,500 employees, as part of a broader restructuring effort. In related news, Valeant announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business." Later in the day, Bill Ackman of Pershing Square, who is partnering with Valeant in its attempt to buy Allergan, called the restructuring a "Valeant light" effort and said Valeant does not need to raise its bid for Allergan. Ackman explained that he believes that shares of Valeant will rise around $10 should the Allergan board engage in takeover talks with the company and that a $10 share rise would boost Valeant's bid for Allergan by $8 per share. MAJOR MOVERS: Among the notable gainers was Extreme Networks (EXTR), which rose 69c, or 15.79%, to $5.06 after the company raised its Q4 earnings per share outlook and narrowed its Q4 revenue view. Also higher were shares of EMC (EMC), which advanced $1.35, or 5.0%, to $28.33 after the Wall Street Journal reported, citing sources, that activist investor Elliott Management has taken a stake of over $1B in the data-storage company and plans to push it to break itself up and spin off VMware (VMW), which is 80% owned by EMC. Shares of VMware fell $2.36, or 2.48%, to $92.95 following the Journal's report. Among the other noteworthy losers was Monster Beverage (MNST), which fell $3.07, or 4.53%, to $64.74 after Morgan Stanley downgraded the stock, citing slowing U.S. trends and balanced valuation. Also lower were shares of Yum! Brands (YUM), which fell $3.29, or 4.25%, to $74.13 after Associated Press reported that the company's KFC brand and McDonald's (MCD) were sold expired beef and chicken in China from food supplier Husi Food. Shares of McDonald's, which is scheduled to report on its quarter before tomorrow's market open, slid $1.44, or 1.45%, to $97.55. INDEXES: The Dow fell 48.45, or 0.28%, to 17,051.73, the Nasdaq dropped 7.44, or 0.17%, to 4,424.70, and the S&P 500 declined 4.59, or 0.23%, to 1,973.63.
12:41 EDTBRCMIntel advances after analyst predicts mobile unit rebound coming
Shares of Intel (INTC) are advancing in a down market after Wells Fargo wrote that the company's mobile chip business could rebound significantly in coming quarters. WHAT'S NEW: Intel's mobile chip business could boost the company's growth and even enable it to beat earnings expectations, Wells Fargo wrote in a note to investors today. The chip maker's shipments of 4G modems should start rising significantly in the third quarter or fourth quarter of this year, the firm stated. The company has probably won some deals to provide LTE modems for smartphones and Samsung is likely one of the chip maker's initial customers, the firm wrote. Broadcom's (BRCM) decision to exit the baseband market probably improved Intel's position in the 4G market, Wells Fargo contended. Meanwhile, Intel said that by this year's holiday season, it should be ready to launch chips for mobile devices that are smaller than those of a key competitor, TSMC (TSM), Wells noted. Sales generated by Intel's mobile and communications unit may have bottomed last quarter or could do so during the current quarter, the firm believes. The unit's operating losses are likely to drop throughout this year, before falling sharply in the quarter ended March 2015, Wells estimated. The unit may approach break even by the end of 2015, the firm added. Wells kept an Outperform rating on the stock. WHAT'S NOTABLE: On July 15, Intel reported stronger than expected results for its quarter ended in June. PRICE ACTION: In early afternoon trading, Intel rose 43c, or 1.3%, to $34.13.
12:10 EDTEMCOn The Fly: Midday Wrap
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10:42 EDTSNDK, EBAYOptions with decreasing implied volatility
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10:23 EDTEMCEMC rallies, levels to watch
The shares are up 3.6% to $27.95 at time of writing, just off the new 52-week high set at $28.32 today. Resistance above that high is at $29.25. Support is at $27.41.
09:10 EDTEMCOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
08:35 EDTEMCEMC shares poised to advance, says Cantor
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07:55 EDTBRCM Broadcom July weekly volatility elevated into Q2 and outlook
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06:27 EDTEMCElliott Management to push EMC to break up, WSJ reports
Elliott Management has taken a stake of over $1B in EMC (EMC), according to sources, and plans to push the data-storage company to break itself up, the Wall Street Journal reports. Elliott reportedly believes EMC's stock would get a boost from spinning off VMware (VMW), of which it owns an 80% stake. Reference Link
06:16 EDTEBAYeBay implied volatility of 19 at lower end of index mean range
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06:02 EDTEMCEMC volatility expected to move on activist investor stake & Q2
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July 18, 2014
16:58 EDTEBAYeBay files automatic mixed securities shelf
11:42 EDTBRCMAMD plummets after profit miss, analyst downgrades
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11:25 EDTSNDK, EBAYOptions with decreasing implied volatility
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07:22 EDTGMETotal June video game sales up 24%, spending on games down 3%, VentureBeat says
Sales of physical video game products, including consoles, games and accessories, rose 24% from the same month of last year to $736.4M in the U.S. in June, reported VentureBeat, citing NPD Group data. Spending on games slid 3% year-over-year to $286.8M, the report noted, with NPD stating that sales of launch titles this June "did not compare favorably" to those launched in 2013. The report also noted that PS4 again outsold Xbox One in the month. Publicly traded companies in the video game space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME), Take-Two (TTWO), Sony (SNE) and Microsoft (MSFT). Reference Link
06:38 EDTGMEJune NPD video game software sales fell 3%, says Piper Jaffray
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