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Stock Market & Financial Investment News

News Breaks
July 16, 2014
16:24 EDTHCA, INTC, FOXA, THC, IBM, TWX, ROST, YHOO, AAPLOn The Fly: Closing Wrap
Stocks on Wall Street started the trading day higher, thanks in part to solid earnings reports from some of the nation’s largest companies as well as a proposed mega-merger in the entertainment industry. Investors preparing for the next round of earnings after the close, which includes reports from eBay (EBAY), Yum! Brands (YUM), and Las Vegas Sands (LVS), did so with the Dow at a new all-time high. ECONOMIC EVENTS: In the U.S., the Producer Price Index for June rose 0.4%, which was ahead of expectations for a 0.2% increase. Industrial production grew 0.2% in June, missing the forecast for 0.3% growth. The NAHB homebuilder confidence index rose to 53 in July, ahead of expectations for it to tick up 1 point to 50. Economic activity expanded in all regions of the country at a moderate to modest pace in recent weeks, the Fed reported today in its Beige Book. Consumer spending rose in every region, as retail sales grew modestly in most areas and vehicle sales were stronger than sales of most other products, the central bank reported. COMPANY NEWS: Shares of HBO and Warner Bros. parent Time Warner (TWX) surged $12.12, or 17.07%, to $83.13 after it was reported by CNBC and DealBook's Andrew Ross Sorkin that the company had received, and rejected, a takeover offer worth about $80B, or $85 per share, from Rupert Murdoch's Twenty-First Century Fox (FOXA). Both Time Warner and Fox subsequently confirmed the report, with Time Warner stating that it rejected the bid since it was "not in the best interests of stockholders" and Fox noting that the companies are not currently in discussions. Afterward, research firm Jefferies said it believes 21st Century Fox could raise its bid for Time Warner into the mid-to-upper $90's per share, but it also thinks that Time Warner would still be unlikely to accept the offer. Meanwhile, FBR Capital said Fox could pay up to $120 for Time Warner and still make an accretive deal. Class A shares of Twenty-First Century Fox ended the day down $2.19, or 6.22%, to $33.00... Shares of Apple (AAPL) initially rose after announcing last night that it would collaborate with IBM (IBM) to provide mobile solutions for businesses. Goldman Sachs analyst Bill Shope wrote in a note to investors that the deal with IBM is clearly positive for Apple, as it validates the "unique enterprise capabilities" of iOS, which has a lack of fragmentation that makes it uniquely suited for organizations. BlackBerry (BBRY), which has a focus on mobile devices for business use, slid $1.33, or 11.77%, to $9.97 after the tech giants announced their new partnership. Apple closed down 54c, or 0.57%, to $94.78, though IBM (IBM), which reports after tomorrow's close, climbed $3.87, or 2.05%, to $192.36. MAJOR MOVERS: Among the notable gainers was Intel (INTC), which advanced $2.94, or 9.27%, to $34.65 after the semiconductor giant's second quarter results beat analysts' consensus estimates. Also higher was Tenet Healthcare (THC), which rallied $3.74, or 8.32%, to $48.71 after after another company in the hospital sector, HCA Holdings (HCA), pre-announced stronger than expected second quarter results. For its part, HCA rose $5.78, or 10.47%, to $60.99 after providing better than expected Q2 guidance and increasing its fiscal year outlook. Among the noteworthy losers was Yahoo (YHOO), which fell $1.82, or 5.11%, to $33.79 after the company's second quarter results fell short of analysts' consensus estimates. The company also said it will lower the amount of stock it will sell in Alibaba's initial public offering to 140M shares and that it plans to return "at least half" of its after-tax proceeds from the stake sale to its shareholders. Also lower were shares of Ross Stores (ROST), which fell $3.12, or 4.78%, to $62.15 after Sterne Agee downgraded its stock to Neutral from Buy and cut its price target for shares to $68 from $81, citing negative traffic trends and low visibility. INDEXES: The Dow rose 77.52, or 0.45%, to 17,138.20, the Nasdaq gained 9.58, or 0.22%, to 4,425.97, and the S&P 500 advanced 8.29, or 0.42%, to 1,981.57.
News For TWX;FOXA;AAPL;IBM;INTC;YHOO;THC;HCA;ROST From The Last 14 Days
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April 13, 2015
11:56 EDTTWXMedia companies look to back away from Nielsen guarantees for ads, Variety says
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11:25 EDTYHOOStarboard CEO says Yahoo parts worth more than whole
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09:34 EDTAAPLActive equity options trading on open
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09:24 EDTAAPLApple Watch sales conversion showing good results, says Cowen
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09:20 EDTAAPLOn The Fly: Pre-market Movers
HIGHER: Builders FirstSource (BLDR), up 54.35% after acquiring ProBuild in all-cash transaction... Arrowhead (ARWR), up 14.3% after being cleared to proceed with multiple dose Phase 2b study of ARC-520... Oramed Pharmaceuticals (ORMP), up 6.9% after enrolling first patient in glucose clamp study for oral insulin... Clovis Oncology (CLVS), up 8.2% after being upgraded to Buy from Neutral at Goldman... Quantum (QTM), up 3.2% after announcing go-to-market partnership with Dot Hill Systems (HILL)... Netflix (NFLX), up 3.4% after being upgraded to Buy from Neutral at UBS... Apple (AAPL), up just under 1% following reports of Apple Watch orders. LOWER: Sina (SINA), down 3% following a report from the Financial Times that China may shut down the company if censorship doesn't improve... Ruckus Wireless (RKUS), down 2.9% after being downgraded to Buy from Conviction Buy at Goldman... Allot Communications (ALLT), down 2.7% after being downgraded to Hold from Buy at Needham.
07:48 EDTAAPLVocera announces first clinical communications app for Apple Watch
Vocera (VCRA) announced the Vocera app for Apple's (AAPL) Apple Watch. The Apple Watch enables Vocera to extend the power of the Vocera Communication Platform in new ways so physicians and care teams can engage with and respond to life-critical communications and alerts. The Vocera app for Apple Watch will allow users to rapidly manage life-critical communications by viewing and responding to prioritized calls, alerts, and messages from other care team members, Electronic Health Records and clinical systems, including critical lab values and STAT orders. In addition, users will be able to manage key communication functions by setting their availability to enable proper message routing. The Vocera app also allows users to initiate panic calls in "man-down" emergency situations, improving staff safety. The Vocera app will be available this summer from the Apple Watch App Store.
07:29 EDTAAPLApple May weekly volatility elevated into Q2 and outlook
Apple April call option implied volatility is at 28, May weekly is at 36, June is at 29; compared to its 26-week average of 26 according to Track Data, suggesting large May price into the expected release of Q2 results on April 27.
07:22 EDTFOXAWave of media M&A may be on the way, WSJ says
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07:15 EDTAAPLApple Watch orders totaled about 957K in U.S. on first day, Apple Insider says
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06:51 EDTAAPLApple Watch off to strong start, says Cantor
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06:35 EDTAAPLApple Watch trends show solid demand, limited supply, says Piper Jaffray
Piper Jaffray says lead-times for the Apple Watch were unchanged over the weekend, which it views as an indication that Apple is expecting a ramp in production in mid-May to June. Overall, Piper views the Watch trends over the weekend as suggesting solid demand paired with very limited supply. It maintains an Overweight rating on Apple with a $160 price target.
06:30 EDTAAPLApple in talks with Florence and the Machine for Beats service, Bloomberg says
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06:24 EDTTWXTime Warner tries to win over TV providers in cord-cutter pitch, WSJ says
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05:59 EDTAAPLApple contacts Irish banks ahead of Apple Pay rollou, The Independent says
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April 12, 2015
19:07 EDTINTCCommerce Department block sales of Intel Xeon Phi chips to China, Gizmodo says
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19:01 EDTAAPL, YHOONokia maps unit HERE may be of interest to several tech firms, Re/code says
If Nokia is putting its mapping unit HERE up for sale it may draw interest from firms like Microsoft (MSFT), Yahoo (YHOO), Amazon (AMZN) and Apple (AAPL), says Re/code. Reference Link
17:01 EDTYHOOYahoo demotes head of Tumblr, WSJ says
David Karp has been demoted as head of Yahoo's Tumblr division while Adam Cahan, the company's SVP of Mobile, will lead a new group concentrating on video, reports the Wall Street Journal's Digits blog, citing a company-wide memo sent by CEO Marissa Mayer. Simon Khalaf has been promoted to SVP overseeing the Yahoo homepage and Tumblr, and will work on making Tumblr "work more closely together" with other Yahoo properties, said a person briefed on the reshuffling plans. Reference Link
16:46 EDTINTCIntel, Seagate may rise despite potentially weak earnings reports, Barron's says
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15:58 EDTTWX, FOXAComcast's 'Furious 7' maintains lead at weekend box office with $60.6M
Rentrak announced the official domestic weekend box office estimates for the weekend of April 12, as compiled by the company's theatrical measurement services. Universal's (CMCSA) "Furious 7" topped the domestic weekend box office with $60M; 21st Century Fox's (FOX, FOXA) "Home" came in second place at the box office with $19M; 21st Century Fox's (FOX, FOXA) "The Longest Ride" came in third place with with $13.5M; Warner Bros.' (TWX) "Get Hard" came in fourth place with with $8.6M and Disney's (DIS) "Cinderella" came in fifth place with $7.2M.
14:34 EDTTWXSeason 5 ‘Game of Thrones’ episodes leaked ahead of premiere, Variety says
Nearly a full day before HBO’s (TWX) scheduled April 12 premiere of “Game of Thrones,” the first four episodes of HBO's popular fantasy series appeared up on piracy networks late Saturday, said Variety. “Sadly, it seems the leaked four episodes of the upcoming season of ‘Game of Thrones’ originated from within a group approved by HBO to receive them,” HBO said. “We’re actively assessing how this breach occurred.” Reference Link
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