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News Breaks
June 23, 2014
11:17 EDTTWTR, MUStocks with call strike movement; TWTR MU
Twitter (TWTR) November 46 call option implied volatility increased 4% to 54, Micron (MU) October 36 call option implied volatility increased 2% to 39 according to IVolatility.
News For TWTR;MU From The Last 14 Days
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September 29, 2015
07:17 EDTMUMicron price target lowered to $23 from $34 at Stifel
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06:02 EDTMUMicron upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst David Wong upgraded Micron Technology to Outperform saying current valuation levels provide upside potential. Wong cut his estimates for the company, however, citing the "ongoing slide" in DRAM pricing. Nonetheless, he thinks that memory industry financial dynamics have improved in recent years and keeps a $16-$19 price target range for Micron shares.
September 28, 2015
11:57 EDTTWTRInvestors have confidence in Dorsey as next Twitter CEO, NY Times says
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11:51 EDTTWTRStocks with call strike movement; TWTR FCX
Twitter (TWTR) December 29 call option implied volatility increased 4% to 59, Freeport McMoRan (FCX) January 10 call option implied volatility increased 7% to 74 according to iVolatility.
11:05 EDTMUMicron October weekly volatility elevated into Q4 and outlook
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07:49 EDTMUMicron price target lowered to $20 from $25 at UBS
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September 25, 2015
15:29 EDTTWTRSquare to file IPO within next two weeks, Fortune reports
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11:58 EDTTWTRStocks with call strike movement; TWTR NFLX
Twitter (TWTR) January 32 call option implied volatility increased 2% to 53, Netflix (NFLX) January 115.7 call option implied volatility decreased 2% to 55 according to IVolatility.
10:39 EDTTWTRTwitter falls, levels to watch
The stock is down over 2.4% at time of writing to $25.98. At that price next support is at $25.02. Resistance is at $26.42.
07:38 EDTMUMicron price target lowered to $20 from $23 at Sterne Agee CRT
Sterne Agee CRT says that demand for Micron's products "remains sub-seasonal," creating risks for the firm's near-term estimates. However, the firm keeps a positive longer term view of the company, citing what it sees as potential growth catalysts from its renewed Inotera deal and the ramp of its new products. It keeps a Buy rating on the shares.
September 24, 2015
16:40 EDTTWTRTwitter rolls out autoplay video ads for apps
Twitter announced in a blog post that "advertisers can now use the power of video to promote their mobile apps on Twitter" starting Thursday. "The Video App Card autoplays in timelines... In beta, we saw that this highly engaging format helped some advertisers nearly triple their conversion rate from app click to install," the company said. Reference Link
13:19 EDTTWTROn The Fly: Top stock stories at midday
Stocks on Wall Street were sharply lower at midday, with each of the major indexes down more than 1%. Continued weakness in Asia and a lack of clarity regarding the Fed's rate decision last week has kept buyers on the sidelines while the sellers have had their way. Lowered guidance from Dow component Caterpillar (CAT) has weighed on the market in addition to some economic data points that were below expectations. ECONOMIC EVENTS: In the U.S., initial jobless claims were 267,000, versus expectations for 272,000 first-time claims. Durable goods orders for August declined 2.0%, versus expectations for a drop of 2.3%. When transportation items were removed, the core reading was breakeven, versus expectations for a rise of 0.1%. The Chicago Fed National Activity Index had a reading of -0.41, versus expectations of +0.24. New home sales jumped 5.7% in August to a 552,000 rate, versus expectations for a rise of 1.6% to a 515,000 rate. In Asia, Japan's stock market reopened for the first time since Friday and the Nikkei suffered a nearly 3% decline as it caught up to other global market trends in the week-to-date. The slide came despite Japanese Prime Minister Shinzo Abe unveiling new economic targets, including a goal for a 20% increase in the target size of the Japanese economy to 600T yen, though he gave no timeframe for achieving this aspiration. Elsewhere, Norway and Taiwan both cut interest rates this morning. The Norges Bank lowered rates by 25 basis points to 0.75%, while Taiwan cut its benchmark by 12.5 basis points to 1.75% in the nation's first lowering of rates since 2009. COMPANY NEWS: A slide in shares of Caterpillar weighed on the Dow Jones Industrial Average after the heavy machinery maker announced plans for job cuts and lowered its revenue guidance for this year and next. Caterpillar said that it would lay off 4,000-5,000 of its employees between now and the end of 2016 and could lay off up to 10,000 employees by 2018. Before the news was announced, research firm Axiom initiated coverage of Caterpillar with a Sell rating and $28 price target, which its shares were 5.7% closer to at midday following their swoon. Other mining and agriculture equipment makers, including Joy Global and Deere (DE), were also weaker following the Dow member's announcement. MAJOR MOVERS: Among the notable gainers was Arrowhead Research (ARWR), which rose 18% after disclosing top-line findings from the Heparc-2001 Phase 2a clinical study of ARC-520, its candidate for the treatment of chronic hepatitis B infection. Also higher was Hudson City Bancorp (HCBK), the parent company of Hudson City Savings Bank, which gained 3% after the bank, the Justice Department and CFPB reached a settlement to resolve allegations that the bank engaged in a pattern or practice of "redlining" predominantly Black and Hispanic neighborhoods in its residential mortgage lending practices. Notably, settling the allegations may pave the way for the bank to close out a proposed merger with M&T Bank (MTB). Among the noteworthy losers was Sientra (SIEN), which dropped 42% after disclosing that the U.K.'s Medicines and Healthcare products Regulatory Agency announced the suspension of the CE certificate for all medical devices made by Silimed, the company's contract manufacturer. Also lower were shares of Twitter (TWTR), which slid 4% after Citi cut its estimates below consensus and lowered its price target on the microblog service operator to $30. INDEXES: Near midday, the Dow was down 186.90, or 1.15%, to 16,092.99, the Nasdaq was down 56.64, or 1.19%, to 4,696.10, and the S&P 500 was down 20.18, or 1.04%, to 1,918.58.
12:39 EDTMUMicron to benefit from Samsung DRAM capex reduction, says Stifel
Stifel said published reports indicate Samsung plans to cut investment in semiconductors by up to 20% next year, with most of the cuts in DRAM. The firm expects other DRAM manufacturers to act rationally, which should help stabilize DRAM prices and keep supply/demand in balance. Stifel views the news as a positive for Micron and reiterates its Buy rating.
10:58 EDTTWTRStocks with call strike movement; TWTR NFLX
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09:05 EDTTWTROn The Fly: Pre-market Movers
HIGHER: Arrowhead Research (ARWR), up 35% after disclosing top-line findings from the Heparc-2001 Phase 2a clinical study of ARC-520, its candidate for the treatment of chronic hepatitis B infection... Conatus Pharmaceuticals (CNAT), up 19% after the company's Phase 2 Portal Hypertension clinical trial of emricasan met its primary endpoints... Keryx Biopharmaceuticals (KERX), up 13% after announcing that the European Commission has approved Fexeric for the control of elevated serum phosphorus levels, or hyperphosphatemia, in adults with chronic kidney disease. LOWER: Caterpillar (CAT), down 5% after announcing restructuring plans, lowering revenue guidance, and having stock initiated with a Sell rating and a $28 price target at Axiom... Twitter (TWTR), down 1.5% after Citi cut estimates below consensus and lowered its price target to $30. DOWN AFTER EARNINGS: Worthington (WOR), down 12.5%... Accenture (ACN), down 3%.
08:57 EDTTWTRGoogle price target raised to $781 from $730 at Citi
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08:51 EDTTWTRCiti cuts Twitter estimates below consensus, drops target to $30
Citi analyst Mark May says his analysis indicates the consensus estimates for Twitter (TWTR) may be too high as they assume "meaningful increases" in monetization which he believes may prove difficult to realize. May cut his 2015, 2016 and 2017 earnings per share estimates for Twitter to 30c, 34c and 58c, respectively, well below the consensus estimates of 34c, 63c, and $1.03. He also cut his 2016 revenue estimate to 3% below the consensus. It will be difficult for the stock to achieve sustained multiple expansion until user growth accelerates and/or revenue growth stabilizes, May tells investors in a research note. He moved the stock to Citi's "High Risk" designation given Twitter's recent user trends and his belief that his estimates are unlikely to move up in the near-term. He keeps a Neutral rating on the name. May's top picks among U.S. Internet stocks remain Facebook (FB), (AMZN) and eBay (EBAY).
08:23 EDTMUMicron target cut to $17, remain cautious on memory, says Morgan Stanley
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September 23, 2015
19:23 EDTTWTRTwitter to be available in additional languages
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16:00 EDTMUOptions Update; September 23, 2015
iPath S&P 500 VIX Short-Term Futures down 53c to 23.81 Option volume leaders: AAPL NFLX BAC FB BABA DOW RIG MU FCX PBR XOM JPM
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