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Stock Market & Financial Investment News

News Breaks
May 14, 2014
08:19 EDTBV, WDAY, EOPN, TWTR, VMEM, FEYESlides in recent tech IPOs fan bubble fears but cash positions strong, WSJ says
Shares of a number of tech highfliers that have come public in recent years, such as Twitter (TWTR), Workday (WDAY) and FireEye (FEYE), have declined sharply over the last two months, fueling fears about the bursting of a new tech bubble, but The Wall Street Journal's review of 148 young tech companies found few are on the type of money-burning pace seen in 1999. Among companies with the smallest cash cushions listed by the Journal, in terms of months, were E2open (EOPN), Bazaarvoice (BV), and Violin Memory (VMEM). Reference Link
News For TWTR;WDAY;FEYE;EOPN;BV;VMEM From The Last 14 Days
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August 26, 2015
16:06 EDTWDAYWorkday sees Q3 revenue $300M-$303M, consensus $302.12M
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16:05 EDTWDAYWorkday reports Q2 EPS (37c), may not compare to consensus (6c)
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15:00 EDTWDAYNotable companies reporting after market close
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14:09 EDTWDAYWorkday August weekly 69.5 straddle priced for 10% movement into Q2
11:08 EDTTWTRStocks with call strike movement; TWTR SUNE
Twitter (TWTR) December 29 call option implied volatility decreased 3% to 64, SunEdison (SUNE) January 10 call option implied volatility increased 5% to 104 according to iVolatility.
07:04 EDTWDAYWorkday August weekly volatility elevated into Q2 and outlook
Workday August weekly call option implied volatility is at 147, September is at 78, December is at 56; compared to its 52-week range of 29 to 69, suggesting large near term price movement into the expected release of Q2 results today.
06:44 EDTWDAYWorkday valuation contingent on competitors in cloud market, WSJ reports
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August 25, 2015
14:20 EDTTWTRMagister sees Twitter as potentially attractive target, MarketWatch reports
M&A advisory firm Magister Advisors believe Twitter (TWTR) could be an attractive acquisition target for Facebook (FB), Google (GOOG) or a news organization, according to MarketWatch's Caitlin Huston. Reference Link
09:59 EDTWDAYOn The Fly: Analyst Upgrade Summary
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09:13 EDTTWTRTrends still positive for Google, Amazon, Facebook ahead of holidays, says Baird
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08:21 EDTWDAYWorkday upgraded to Buy from Neutral at DA Davidson
DA Davidson upgraded Workday to Buy to reflect a more reasonable valuation, minimal international and currency risk, and defensive nature given it is a high quality SaaS company with extraordinary growth. The firm lowered its price target to $91 from $97.
08:17 EDTWDAYWorkday August weekly volatility elevated into Q2 and outlook
Workday August weekly call option implied volatility is at 149, September is at 77, December is at 54; compared to its 52-week range of 29 to 69, suggesting large near term price movement into the expected release of Q2 results on August 26.
08:08 EDTFEYEFireEye, Adobe among quality 'flushed out' tech names, says JPMorgan
JPMorgan analyst Sterling Auty says that market disruptions like the one seen in the last several days have historically provided a unique opportunity to invest in high-quality names and identified FireEye (FEYE), Adobe (ADBE), Veeva Systems (VEEV) and Rovi (ROVI) as four particularly interesting tech stocks that "appear flushed out" and now offer "exaggerated" risk/reward. The firm has Overweight ratings on all four stocks mentioned above after having upgraded Rovi to Overweight this morning.
08:00 EDTTWTRTwitter wants to move Herbalife suit to California, NY Post reports
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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
15:01 EDTFEYEWyndham slips after FTC given go-ahead for data breach lawsuit
Shares of Wyndham (WYN) have slipped in afternoon trading after an appeals court ruled that the FTC can sue the company over its allegedly poor cybersecurity practices. WHAT'S NEW: According to a Reuters report of court proceedings, the 3rd U.S. Circuit Court of Appeals in Philadelphia has ruled that the FTC may proceed with its lawsuit against Wyndham over data breaches in 2008 and 2009, saying the hotel company failed to take reasonable steps to protect customer information. Wyndham's allegedly lackluster data protection policies constitute "unfair and deceptive trade practices," granting the Federal Trade Commission authority to step in, said Judge Thomas Ambro. FTC Chairwoman Edith Ramirez commented, "It is not only appropriate, but critical, that the FTC has the ability to take action on behalf of consumers when companies fail to take reasonable steps to secure sensitive consumer information," according to the report. WHAT'S NOTABLE: Today's ruling comes in the wake of numerous high-profile "hack attacks," with American Airlines (AAL), Anthem (ANTM), United Airlines (UAL) and Target (TGT) all reporting digital security breaches in recent years. Though no final verdict has been reached in the case between the FTC and Wyndham, Judge Ambro may have established the beginnings of a legal precedent potentially allowing the Commission to sue companies for not going far enough to protect consumer data and Chairwoman Ramirez appeared to share that broader tone. PRICE ACTION: Shares of Wyndham are down about 4% in intraday trading. Cybersecurity firms FireEye (FEYE) and Palo Alto Networks (PANW) are down roughly 2% and 2.7% for the afternoon.
14:21 EDTFEYEJMP Securities says pullback in Palo Alto a buying opportunity
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07:14 EDTWDAYWorkday price target lowered to $85 from $100 at Stephens
Stephens said its checks suggest solid trends for Workday but a slightly more difficult selling environment this year compared to last, prompting it to reiterate its Equal Weight rating on the stock despite its recent selloff. The firm said the risk/reward for owning a "market leading" asset in the largest identified software market seems to be improving, but lowered its price target on the name to $85 from $100 due to multiple contraction.
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