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January 10, 2014
09:35 EDTBAC, AAPL, SHLD, TWTR, GOOG, AAActive equity options trading on open
Active equity options trading on open according to Track Data: TWTR AAPL GOOG AA SHLD BAC
News For TWTR;AAPL;AA;SHLD;BAC;GOOG From The Last 14 Days
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September 28, 2015
10:18 EDTSHLDJ.C. Penney rises after CEO meeting prompts upgrade
Shares of J.C. Penney (JCP) are rising in morning trading after a Sterne Agee CRT analyst upgraded the retailer to Buy with a $13 price target following a meeting with the company's new chief executive officer. WHAT'S NEW: Sterne Agee CRT analyst Charles Grom upgraded J.C. Penney this morning to Buy from Neutral with a $13 price target after recently spending time with new CEO Marvin Ellison at the company's headquarters. Grom said he came away from the meeting "more confident" in the company's turnaround plan, adding that Ellison has the "right demeanor" and business sense to lead the company and "right the ship." Ellison took over as CEO of the retailer on August 1, replacing previous CEO Myron "Mike" Ullman. Sterne's Grom said that while the firm has previously been critical of the retailer's strategy, he believes the initiatives, led by Ellison, are "refreshing" and could boost the company's EBITDA. Grom thinks Ellison is the right person to help revive J.C. Penney and believes the company can surpass its long-term EBITDA target of $1.2B by 2017, saying that this goal "may prove to be a floor rather than a ceiling." Additionally, the analyst sees "multiple levers" to drive same-store sales higher. Despite his optimism in J.C. Penney's recovery story, the analyst notes that U.S. consumer spending is shifting away from traditional items in department stores toward move service-oriented products, traditional mall traffic trends remain "suppressed" and weather trends across the U.S. in August and September were not "ideal" for mall-based retailers. WHAT'S NOTABLE: J.C. Penney recently named John Tighe as executive vice president and chief merchant, effective October 1. Tighe, most recently senior vice president and senior general merchandise manager for the men's, children's, footwear, handbag and intimate apparel divisions, will succeed Elizabeth "Liz" Sweney, the company said. On August 31, Deutsche Bank analyst Paul Trussell upgraded J.C. Penney to Buy from Hold and raised his price target on the stock to $12 from $10, calling the company a "self-help story." Trussell noted that the company has already improved its merchandise mix and is now moving toward better pricing and fewer markdowns. Trussell said that the company's target of mid-single digit same-store sales growth looks "achievable" and its brands and assortment "look right." OTHERS TO WATCH: Other department store operators include Macy's (M), Kohl's (KSS) and Sears Holdings (SHLD). PRICE ACTION: J.C. Penney is up 1.5% to $9.57 in morning trading and is up nearly 50% year-to-date.
09:36 EDTAAPL Active equity options trading on open
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08:52 EDTAA, AAPLOn The Fly: Pre-market Movers
IN FOCUS: Apple (AAPL) after announcing it set a record by selling more than 13M new iPhone 6s and iPhone 6s Plus models in the first three days after launch of the devices. HIGHER: Media General (MEG), up 22% after Nexstar (NXST) announced a proposal to acquire the company for cash Nexstar shares currently valued at $14.50 per Media General share... Alcoa (AA), up 5.4% after announcing that its board has unanimously approved a plan to separate into two independent, publicly-traded companies - an Upstream company that will operate under the Alcoa name and a new Value-Add company whose name will be announced at a later date... Atmel (ATML), up 7% after Reuters reported that Cypress Semiconductor (CY) is working on a competing bid to Dialog Semiconductor's (DLGNF) takeover offer... J.C. Penney (JCP), up 3% after Sterne Agee CRT upgraded the stock to Buy from Neutral after meeting with the company's new CEO. DOWN AFTER EARNINGS: Cal-Maine Foods (CALM), down 8%. ALSO LOWER: Verastem (VSTM), down 50% after stopping enrollment in the Phase 2 study of VS-6063 for patients with mesothelioma for futility after a Data Safety Monitoring Board review of a pre-planned interim analysis... Fiat Chrysler (FCAU), down 3.7% after the Detroit Free Press said some local UAW workers rejected a four-year tentative pact between the United Auto Workers and the company... Williams (WMB), down 3% after Energy Transfer Equity (ETE) announced a business combination transaction valued at approximately $37.7B, including the assumption of debt and other liabilities. Under the deal, an affiliate of ETE, will acquire Williams at an implied current price of $43.50 per Williams share.
08:46 EDTAAPLUS District Court denies Apple's motion to appeal Kessler ruling
Network-1 Technologies (NTIP) announced that the United States District Judge Robert Schroeder III of the Eastern District of Texas issued an Order denying a motion made by Apple (AAPL) to certify for appeal the Court's prior ruling denying Apple's motion for summary judgment based on the Kessler Doctrine in a patent infringement suit filed by Mirror Worlds Technologies, Inc., a wholly owned subsidiary of Network-1, against Apple. In December 2014, Apple brought a motion for summary judgment arguing that Mirror Worlds was precluded under the Kessler Doctrine from initiating patent litigation against Apple because of an earlier case brought by the previous owner of the Mirror Worlds patent portfolio against Apple. In July, Judge Schroeder denied Apple's motion and granted Mirror Worlds' cross-motion that the Kessler Doctrine does not apply. Apple filed a motion seeking to allow it to file an interlocutory appeal (prior to a judgment) of Judge's Schroeder's Order to the Federal Circuit Court of Appeals.
08:34 EDTAAAlcoa says Micromill business to be 'disruptive'
Says sees 9% growth CAGR in aerospace market from 2014-2017, 2%-3% growth in automotive, 3% in industrial gas turbines, 4%-6% in building & construction and (1%)-0% in commercial transportation. Says Micromill material to debut on 2016 Ford F-150 starting in Q4. Says Micromill business to be "disruptive," says exploring full scale capacity expansion options in North America. Says casthouses offer value-add opportunities. Says both companies will have "strong" balance sheets. Comments made on Alcoa's conference call discussing its split into two public companies.
08:30 EDTAAPLApple says has sold over 13M new iPhone 6s, 6s Plus models
Apple announced it has sold more than 13 million new iPhone 6s and iPhone 6s Plus models, a new record, just three days after launch. iPhone 6s and iPhone 6s Plus will be available in more than 40 additional countries beginning October 9 including Italy, Mexico, Russia, Spain and Taiwan. The new iPhones will be available in over 130 countries by the end of the year. "Sales for iPhone 6s and iPhone 6s Plus have been phenomenal, blowing past any previous first weekend sales results in Apple's history," said Tim Cook, Apple's CEO. "Customers' feedback is incredible and they are loving 3D Touch and Live Photos, and we can't wait to bring iPhone 6s and iPhone 6s Plus to customers in even more countries on October 9."
08:30 EDTAAPLApple says has sold over 13M new iPhone 6s, 6s Plus models
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07:42 EDTAAAlcoa says plans to complete separation in 2H16
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07:40 EDTGOOGGoogle to unveil new phones at September 29 event, BI reports
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07:38 EDTAAPLBox to hold a user conference
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07:24 EDTAAPLiPhone 7 may have waterproof, dustproof design, AppleInsider says
Apple's iPhone 7 is well into the prototyping phase, with current test models featuring a waterproof and dustproof design with a non-metal chassis, AppleInsider reports, citing a post from Weibo. Reference Link
07:21 EDTAAPLKnowles upgraded on increased Apple content at FBR Capital
FBR Capital analyst Christopher Rolland upgraded Knowles (KN) to Market Perform from Underperform saying Chipworks identified a fourth mic made by the company in Apple's (AAPL) iPhone 6S, up from three in the previous version of the smartphone. Further, key Knowles competitor has encountered difficulties sourcing qualified MEMS wafers from its third-party manufacturing partner, Rolland tells investors in a research note. He raised his price target for shares to $18 from $17.
06:50 EDTAAAlcoa to host conference call
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06:42 EDTGOOGGoogle to bring free Wi-Fi to 400 train stations in India
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06:36 EDTAAAlcoa volatility elevated into separation into two public companies
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06:33 EDTAAAlcoa to separate into two public companies, targeted for 2H16
Alcoa announced that its board has unanimously approved a plan to separate into two independent, publicly-traded companies, culminating Alcoa's successful multi-year transformation. The globally competitive Upstream Company will comprise five business units that today make up Global Primary Products - Bauxite, Alumina, Aluminum, Casting and Energy. The separation is intended to qualify as a tax-free transaction to Alcoa shareholders for U.S. federal income tax purposes. After the separation, the Upstream Company will operate under the Alcoa name. The Value-Add company will be named prior to closing. Upon completion of the transaction, Klaus Kleinfeld will lead the Value-Add Company as Chairman and Chief Executive Officer. He will also serve as Chairman of the Upstream company for the critical initial phase, ensuring a smooth and effective transition. Each company will have its own independent board of directors that will include members of the current Alcoa Board. Full management teams and boards for both companies will be named in the months leading up to the launch of the two companies in the second half of 2016. After the separation, the Upstream Company will be a cost-competitive industry leader in bauxite mining, alumina refining and aluminum production, positioned for success throughout the market cycle. The company's footprint will include 64 facilities worldwide, and approximately 17,000 employees. Revenues for the 12 months through June 30, 2015 totaled $13.2 billion, with $2.8 billion in EBITDA. After the separation, the Value-Add Company will be a premier provider of high-performance multi-material products and solutions with 157 globally diverse operating locations and approximately 43,000 employees. Pro-forma revenues for the Value-Add Company for the 12 months through June 30, 2015 totaled $14.5 billion, with $2.2 billion in pro-forma EBITDA. Alcoa is currently targeting to complete the separation in the second half of 2016.
06:31 EDTAAAlcoa to separate into two public companies
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06:25 EDTGOOGYouTube finalizing subscription launch for two services, Re/code reports
YouTube is finalizing launch plans for its subscription service expected to be launch near the end of October, reports Re/code. In a blast email to content owners, YouTube said they would have to agree to the new terms by October 22 or their "videos will no longer be available for public display or monetization in the United States." According to sources, YouTube intends to bundle two different services that include an update of its music service and the ability to watch anything on YouTube without seeing ads. Reference Link
06:05 EDTAAPLiPhone survey shows trend to higher capacity continues, says Piper Jaffray
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September 27, 2015
13:50 EDTBACBank of America likely to increase dividend, buyback plans, Barron's says
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