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July 30, 2014
17:12 EDTPWE, GNW, EW, GRMN, AMGN, TWTR, GT, HSPOn 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 Fed’s 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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June 29, 2015
08:00 EDTTWTRTwitter faces brain drain risk, says SunTrust
After Twitter's head of corporate development left the company, SunTrust says that Twitter could be disrupted by a brain drain during its CEO search. The firm says that the CEO search must be completed quickly in order to avoid a significant disruption. It keeps a Neutral rating on the stock but remains very upbeat on the company's longer term opportunity.
June 28, 2015
12:47 EDTTWTRTech sector earnings 'melt away' when accounting for stock comp, Barron's says
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June 26, 2015
16:19 EDTTWTRTwitter VP of Corporate Development and Strategy to leave company
In a tweet, Rishi Carg, Twitter's VP of Corporate Development and Strategy, announced he is leaving the firm. Reference Link
16:00 EDTTWTROptions Update; June 26, 2015
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07:01 EDTGRMNGarmin introduces Rino 650t two-way radio handheld
Garmin International announced a new model of rugged two-way radio handhelds, the Rino 650t. Boasting a built-in 5-watt FRS/GMRS radio for a communication range of up to 20 miles, the Rino 650t comes preloaded with detailed TOPO U.S. 100K maps and a one-year subscription to BirdsEye Satellite imagery. Like previous Rino models, the new 650t features a 2.6” glove-friendly color display and a full navigational toolset with high-sensitivity GPS, barometric altimeter, 3-axis electronic compass and NOAA weather radio.
June 25, 2015
09:34 EDTTWTRActive equity options trading on open
Active equity options trading on open: AAPL FB NFLX AMZN BAC CVX TWTR INTC GILD BBBY
09:08 EDTGTGoodyear Tire to close Wolverhampton, U.K., facility, cut 360-390 positions
The Goodyear Tire & Rubber Company said in a regulatory filing that on June 23, it approved rationalization plans in its Europe, Middle East and Africa strategic business unit in order to strengthen the company’s global competiveness. The rationalization plans include closing the Wolverhampton, United Kingdom mixing and retreading facility and transferring its production to existing manufacturing facilities across EMEA. The plans also include the transfer of consumer tire production from the manufacturing facility in Wittlich, Germany to existing manufacturing facilities in EMEA. These plans, which will result in a net reduction of approximately 360 to 390 associate positions, remain subject to consultation with relevant employee representative bodies.The company expects to be substantially complete with these rationalization plans by the end of 2016 and estimates total charges associated with these actions to be between $70M-$80M, or $60M-$70M after taxes and minority interest, of which $55M-$60M is expected to be cash charges primarily related to severance payments and contractual obligations and approximately $15M-$20M is expected to be non-cash charges primarily related to accelerated depreciation and other asset related charges. The company expects to record approximately $30M of charges in the second quarter of 2015 associated with these plans. Charges of approximately $10M are expected to be recognized in the second half of 2015.Once completed, these actions are expected to improve EMEA segment operating income by approximately $30M annually, beginning in 2017.
June 24, 2015
16:00 EDTTWTRActionable Options for Wednesday, June, 24
iPath S&P 500 VIX Short-Term Futures up 30c to 17.32 Option volume leaders: AAPL FB NFLX BAC VALE MU BABA WMB T F EBAY FCX TWTR BBRY
14:13 EDTTWTRApple blocks use of app data to target ads, The Information reports
Apple (AAPL) is "quietly moving" to block companies from accessing data from other, unrelated apps, a practice which was used to target ads, says The Information. The report notes that Facebook (FB) and Twitter (TWTR) often analyze information from other apps on a user's phone in order to better target ads. Reference Link
10:26 EDTTWTRStocks with call strike movement; TWTR JCP
Twitter (TWTR) December 40 call option implied volatility increased 1% to 44, J.C. Penney (JCP) November 20 call option implied volatility decreased 5% to 42 according to IVolatility.
07:56 EDTAMGNAmgen management to meet with Evercore ISI
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07:06 EDTHSPHospira: FDA deems India facility 'acceptable' for manufacturing
Hospira said in a regulatory filing that on June 23, Hospira Healthcare India Private Limited, a subsidiary of Hospira, received official notification from the U.S. FDA that the inspection of the Visakhapatnam, India facility was deemed acceptable for the manufacture of finished dosage drugs. As a result of this action, the company may receive U.S. product approvals from this facility in the future. As was previously reported, the FDA conducted a pre-approval inspection of the Vizag facility from February 16 to February 25, which resulted in the issuance of a Form 483 containing 14 observations. Hospira responded to the Form 483 on March 18, and submitted additional support documentation on May 29. The inspection was found to be acceptable following the FDA’s review of the company’s responses and support documentation. The company has begun limited commercial production at the facility.
June 23, 2015
16:00 EDTTWTROptions Update; June 23, 2015
iPath S&P 500 VIX Short-Term Futures down 46c to 17. Option volume leaders: AAPL FB AAPL T BAC MU BTU WMB AMZN TWTR BBRY
11:20 EDTEWMedtronic competitive with Edwards after approval, says Wells Fargo
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09:36 EDTTWTRActive equity options trading on open
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07:25 EDTEW, AMGNPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
07:17 EDTEWFeedback on Edwards Lifesciences Centera 'very positive,' says Wells Fargo
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June 22, 2015
16:00 EDTTWTROptions Update; June 22, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 17.45. Option volume leaders: AAPL FB BAC CHK WMB BABA TWTR MU AMBA TSLA JPM
11:21 EDTTWTRStocks with call strike movement; TWTR BBRY
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09:16 EDTTWTRTwitter retains Spencer Stuart to assist in CEO search process, CNBC says
According to a tweet from CNBC, Twitter has retained Spencer Stuart to assist in the CEO search process. Twitter will reportedly only consider "full-time" candidates. Reference Link
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