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July 30, 2014
17:12 EDTHSP, PWE, GNW, EW, GRMN, AMGN, TWTR, GTOn The Fly: Closing Wrap
Stocks on Wall Street began the session in positive territory following a better than expected GDP growth estimate for the second quarter, but were unable to hold their initial gains. The averages reversed early in the session and eventually crossed into negative territory, as investors chose to wait for the Fedís rate decision and to listen to the accompanying statements. The Fed kept rates the same, said inflation was tracking towards their goals, and continued to reduce their planned purchases of bonds, which was all generally in keeping with expectations. The market initially revived, but then settled back into the range it was in before the Fed's release and limped into the close. ECONOMIC EVENTS: The Commerce Department estimated that U.S. Gross Domestic Product grew at a seasonally adjusted annual rate of 4.0% in the second quarter, easily beating expectations for a growth rate of 3.0%. ADP reported private payrolls climbed 218K in July, which was a bit below the 238K forecast. The Federal Reserve wrapped up its two-day Federal Open Market Committee meeting and, as expected, decided to reduce its monthly asset purchases by $10B next month. The Fed will buy $10B of mortgage-backed securities in August, down from $15B in July, and will buy $15B of longer-term Treasury securities next month, down from $20B previously. The committee reaffirmed its view that highly accommodative monetary policies are still appropriate and maintained its 0% to 0.25% target range for the federal funds rate. Additionally, the leaders of the G-7 issued a joint statement that they "remain ready to further intensify the costs" to Russia if it does not change its course regarding Ukraine. COMPANY NEWS: Shares of Twitter (TWTR) surged $7.71, or 19.98%, to $46.30 after the social network operator's second quarter results beat analysts' consensus estimates and it raised its fiscal year 2014 revenue and adjusted EBITDA forecasts. Following last night's report, Bank of America Merrill Lynch upgraded Twitter to Buy from Neutral, while the stock was also upgraded at FBN Securities, UBS and Cowen. MAJOR MOVERS: Among the notable gainers following their earnings reports were Edwards Lifesciences (EW), which gained $8.44, or 10.0%, to $92.88, Hospira (HSP), which rose $4.31, or 8.3%, to $56.21, and Amgen (AMGN), which advanced $6.70, or 5.43%, to $130.01. Among the notable gainers following their earnings reports were Genworth Financial (GNW), which fell $2.28, or 14.02%, to $13.98, Goodyear Tire (GT), which declined $2.14, or 7.76%, to $25.45, and Garmin (GRMN), which dropped $3.17, or 5.51%, to $54.41. Also lower was Penn West Petroleum (PWE), which fell $1.30, or 14.21%, to $7.85 after it announced that the Audit Committee of the company's Board of Directors is conducting a voluntary, internal review of certain of the company's accounting practices. INDEXES: The Dow dropped 31.75, or 0.19%, to 16,880.36, the Nasdaq gained 20.20, or 0.45%, to 4,462.90, and the S&P 500 added 0.12, or 0.01%, to 1,970.07.
News For TWTR;EW;HSP;AMGN;GNW;GT;GRMN;PWE From The Last 14 Days
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August 25, 2015
07:14 EDTGRMNGarmin introduces Edge Explore 1000 GPS bike computer
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06:36 EDTGRMNGarmin upgraded to Outperform from Market Perform at Raymond James
Raymond James upgraded Garmin to Outperform from Market Perform with a $43 price target. The firm upgraded shares following the sharp market selloff and said the stock is as inexpensive as it has been on an absolute or relative basis since 2010. Raymond James said Garmin remains growth challenged near-term but recent currency moves should help in coming quarters and provide a tailwind.
06:15 EDTTWTRJeep hacker steps down as Twitter engineer, Re/code reports
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August 24, 2015
19:17 EDTTWTRTwitter adds new direct message notifications, Engadget says
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18:07 EDTTWTRSEC asked Twitter for details on user trend metrics
According to SEC correspondence released earlier, the Commission asked former Twitter CEO Dick Costolo to "describe the alternative metric(s) you anticipate presenting in future filings to explain trends in user engagement and advertising services revenue." The letter to Costolo is dated April 13, and was followed by a response from the company saying that it included two metrics -- changes in ad engagements and changes in cost per ad engagement -- on its quarterly report for the period ended March 31. "These metrics are intended to serve as a measure of user engagement and demand, respectively," explained Twitter in its May 11 response letter. Reference Link
13:36 EDTAMGNBiotech correction presents some opportunities, says RBC Capital
RBC Capital analyst Michael Yee said he won't try to pick the short-term bottom in biotech, but contends that any macro weakness in China shouldn't have any major impact to financials or fundamentals for the sector given their minimal exposure there. If the market continues to be volatile, Yee recommends a focus on names with defensive characteristics, such as higher margins and free cash flow yield, naming Amgen (AMGN), Celgene (CELG) and Gilead (GILD) as some examples. The analyst adds that he likes Vertex (VRTX) on the pullback for "more aggressive" growth investors. Yee has Outperform ratings on all of the stocks mentioned above.
12:57 EDTHSPFTC requires Pfizer to sell rights to four products as condition of buying Hospira
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08:29 EDTEWWilliam Blair to hold a field trip
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08:01 EDTHSPPfizer receives clearance from FTC for Hospira acquisition
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August 21, 2015
16:01 EDTTWTROptions Update; August 21, 2015
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13:38 EDTTWTRGoogle says brings tweets to mobile Google search app, desktop
In May, Google announced that it was bringing Tweets to Google Search on mobile devices. The company today updated the blog entry to say that it has "extended this to the desktop now, too, and in English everywhere." Reference Link
11:13 EDTTWTRStocks with call strike movement; AMZN TWTR
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10:00 EDTTWTRTwitter volatility increases
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09:59 EDTTWTRTwitter rises, levels to watch
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09:34 EDTTWTRActive equity options trading on open
Active equity options trading on open: AAPL FB BAC NFLX DIS TSLA TWTR
August 20, 2015
11:12 EDTTWTRStocks with call strike movement; MU TWTR
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05:26 EDTHSPHospira announces approval of Inflectra in Australia
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August 19, 2015
16:00 EDTTWTROptions Update; August 19, 2015
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12:00 EDTTWTRTwitter falls, levels to watch
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09:33 EDTTWTRActive equity options trading on open
Active equity options trading on open: AAPL BAC FB BA TWTR NFLX WMT BABA
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