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Stock Market & Financial Investment News

News Breaks
May 14, 2014
08:19 EDTTWTR, WDAY, FEYE, EOPN, BV, VMEMSlides 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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July 22, 2014
09:47 EDTTWTRTwitter initiated with a Neutral at Tigress Financial
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08:41 EDTTWTR Twitter August weekly volatility elevated into Q2 and outlook
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08:09 EDTTWTRTwitter should post strong Q2 growth but challenges remain, says Cowen
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July 21, 2014
12:05 EDTTWTRStocks with call strike movement; BBRY TWTR
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July 18, 2014
09:48 EDTTWTRActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NQ GOOG GOOGL TSLA KGC TWTR AMZN ELNK AMGN FB
July 17, 2014
17:01 EDTTWTRTwitter acquires CardSpring
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16:01 EDTTWTROptions Update; July 17, 2014
iPath S&P 500 VIX Short-Term Futures up 2.66 to 29.93. Option volume leaders: AAPL FB GOOG APA MSFT PBR SUNE AMZN TWTR TSLA according to Track Data.
09:40 EDTTWTRActive equity options trading on open
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08:28 EDTTWTRTwitter may see 'paltry' MAU growth in Q2, Business Insider says
Twitter's monthly active users would have declined during Q2 if not for a boost from the World Cup, two sources told Business Insider, with one of those sources claiming Twitter will have 260M MAUs for the quarter, up only 2% from the 255M MAUs it reported in Q1. "It is not possible to say definitively from the data provided by Business Insider's two sources that Twitter's MAUs are in trouble," the report cautioned, noting that the data relied on comes from third-party developers and that the MAUs communicated were taken during non-standard time periods that don't sync with Twitter's calendar quarters. Reference Link
July 16, 2014
13:06 EDTFEYEIT security stocks advance after upbeat Goldman note
Shares of a number of IT security stocks are rallying after Goldman Sachs wrote that it was upbeat on the sector in a note to investors today. WHAT'S NEW: Goldman Sachs analyst Matthew Niknam assumed coverage of the Security Software sector with an Attractive rating. Cyber threats have become larger and more costly, so many companies are increasing the amount of money they spend on IT security, Niknam wrote. Spending on security is increasing by the highest rate since 2010, the analyst estimated. Companies in the sector should see their free cash flow growth accelerate, while cash rich tech companies could become interested in carrying out M&A transactions with security vendors, the analyst predicted. Additionally, more mature companies in the sector should be able to buy back more of their shares going forward, Niknam believes. He identified Palo Alto (PANW) as his top pick in the space, as he believes that the company provides "the most unique blend of disruptive long-term growth and accelerating profitability." The company is poised to gain additional market share, while its growth going forward should beat expectations, Niknam stated. He raised his price target on the shares to $97 from $91 and kept a Conviction List-Buy rating on the stock. Meanwhile, the analyst upgraded another stock in the sector, FireEye (FEYE), to Buy from Neutral after assuming coverage of the shares. The company's status as the market leader in fighting Advanced Persistent Threats, or APTs, leaves it well-positioned in the current market, he contended. An IT survey indicates that most respondents plan to increase their APT-related spending, and 59% of the respondents say they plan to spend more money on solutions from a new vendor, Niknam reported. Furthermore, FireEye's revenue growth likely accelerated in Q2 and its revenue should beat expectations in 2014 and 2015, while the company's free cash flow should come in above consensus levels next year, Niknam predicted. FireEye may eventually be acquired by another company, according to Niknam, who raised his price target on the shares to $42 from $36. WHAT'S NOTABLE: Niknam initiated coverage of Proofpoint (PFPT) with a Buy rating as he predicted that the company's growth and free cash flow would beat expectations in the near-term and he believes that the company could also become a takeover target. The analyst started coverage of Fortinet (FTNT) with a Neutral rating. PRICE ACTION: In early afternoon trading, Palo Alto climbed 3% to $78.36, FireEye rose 3.5% to $34.99, Proofpoint climbed 3.6% to $34.46, and Fortinet rose 1% to $24.24.
09:23 EDTFEYEOn The Fly: Pre-market Movers
HIGHER: Time Warner (TWX), up 15% after company confirmed that it rejected an $80B takeover offer from 21st Century Fox (FOX, FOXA), as had been reported earlier this morning... Apple (AAPL), up 2% after announcing an enterprise mobile partnership with IBM (IBM), which is also up 2%... International Game (IGT), up 9.5% after agreeing to be acquired by GTECH for $4.7B in cash and stock... FireEye (FEYE), up 5% after shares upgraded at Goldman... Precision Drilling (PDS), up 4% after announcing strategic agreement with Schlumberger (SLB), upgraded at Deutsche Bank... Mellanox (MLNX), up 4.7% following upgrade at Jefferies. UP AFTER EARNINGS: Intel (INTC), up 5.4%... HCA Holdings (HCA), up 6%... Textron (TXT), up 3.2%... Abbott (ABT), up 1%. DOWN AFTER EARNINGS: PNC Financial (PNC), down 2.5%... MGIC Investment (MTG), down 3.6%. LOWER: Yahoo (YHOO), down 3% after downgraded at CRT Capital following second quarter earnings report... Ares Capital (ARCC), down 2.5% after filing to sell 11.85M shares of common stock... Nationstar (NSM), down 2.4% after downgraded at Wells Fargo... Walter Investment (WAC), which was also downgraded at Wells Fargo, down 1.6%.
05:47 EDTFEYEFireEye assumed with a Buy from Neutral at Goldman
Goldman upgraded FireEye to Buy after assuming coverage of the stock and raised its price target for shares to $42 from $36. Goldman believes FireEye is positioned as the market leader in battling Advanced Persistent Threats.
July 15, 2014
16:00 EDTTWTROptions Update; July 15, 2014
iPath S&P 500 VIX Short-Term Futures up 53c to 28.02. Option volume leaders: AAPL FB GOOG AMZN ABX DIS NFLX TWTR TSLA according to Track Data.
10:56 EDTTWTRFed calls small cap social media, biotech valuations 'stretched'
The Board of Governors of the Federal Reserve in its Monetary Policy Report dated today said valuation metrics in "some sectors" appear substantially stretched, "particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year." A later part in the document reads, "Equity valuations of smaller firms as well as social media and biotechnology firms appear to be stretched, with ratios of prices to forward earnings remaining high relative to historical norms." The specific targeting of sectors by the Fed seems to be having an impact on stocks in the social media and biotech spaces. Shares of Yelp (YELP) are down over 5% to $67.51, while Twitter (TWTR) and Facebook (FB) are each down 2%. Celgene (CELG) and Amgen (AMGN) are leading the biotech space lower with pullbacks of greater than 1%.
10:33 EDTTWTRFacebook, Twitter slip following cautious valuation comments from Fed
Shares of a number of companies in the social media and biotech industries moved lower following the circulation of cautious comments about their stock valuations that were included in the Federal Reserve's latest Monetary Policy Report. WHAT'S NEW: In the report, presented by the Board of Governors of the Federal Reserve and signed on behalf of the governors by Chair Janet Yellen, the central bank wrote that some broad equity price indexes have increased to all-time highs in nominal terms since the end of 2013, but that valuation measures for the overall market in early July were "generally at levels not far above their historical averages." However, the Fed's report also cautioned that valuation metrics in some sectors do appear substantially "stretched," particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year. As support for its assessment, the Fed noted that ratios of prices to forward earnings for "smaller firms as well as social media and biotechnology firms" remain "high relative to historical norms." PRICE ACTION: Following the circulation of the comments in the Fed report, shares of Facebook (FB) are down 88c, or 1.3%, to $67.02, Twitter (TWTR) is down 24c, or 0.6%, to $38.07 and LinkedIn (LNKD), is down 21c, or 0.1%, to $159.57. Shares of some biotechnology companies including Celgene (CELG) and Amgen (AMGN) also ticked lower following the circulation of the comments from the Fed's report.
10:18 EDTTWTRFacebook, Twitter move lower following comments from Yellen
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10:00 EDTTWTROn The Fly: Analyst Upgrade Summary
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08:18 EDTTWTRTwitter cracks down on providers of user stats, BI says
After Twitter's stock declined early this year following data that suggested growth in its monthly active users was slowing or flat and that engagement measures were declining, the social network operator has taken the unusual step of shutting off its data flow to certain companies that have published their own stats on Twitter's user statistics, according Business Insider, citing two sources. Reference Link
08:04 EDTVMEMViolin Memory announces pay-as-you-grow capacity pricing option
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06:06 EDTTWTRTwitter upgraded to Neutral from Underperform at Macquarie
Macquarie upgraded its rating on Twitter (TWTR) to Neutral saying a reset in expectations and improving fundamentals will limit downside in the stock. The firm believes user growth trends remain an issue, though, and remains cautious on the name. Macquarie has a $36 price target for Twitter shares, which closed yesterday down 2c to $38.31.
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