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Stock Market & Financial Investment News

News Breaks
July 16, 2014
16:24 EDTINTC, FOXA, THC, IBM, TWX, ROST, YHOO, AAPL, HCAOn The Fly: Closing Wrap
Stocks on Wall Street started the trading day higher, thanks in part to solid earnings reports from some of the nationís 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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August 19, 2015
08:59 EDTROSTRoss Stores has positive read through from TJX, says Wedbush
After TJX (TJX) reported stronger than expected results, Wedbush says that the results bode well for Ross Stores (ROST). The firm says that Ross also benefits from positive low-end trends.
07:52 EDTAAPLAnalog Devices growth being driven by Apple, says Jefferies
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07:41 EDTYHOOYahoo price target lowered to $56 from $62 at Cantor
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06:35 EDTAAPLApple Stores to shift iPod stock to shelves, drop iPad smart signs, 9to5Mac says
Apple plans to make changes at its stores by relocating iPod stock to accessory shelves and removing iPad-based Smart Signs, 9to5Mac reports, citing several Apple Retail managers briefed on the plans. Apple will start to roll out these changes overnight on Tuesday of next week in the U.S., the report says. Reference Link
06:14 EDTTWX, INTCIntel to launch contest show on Turner Broadcasting, WSJ reports
Intel (INTC) is making a foray into reality television by developing a contest show with Mark Burnett and Time Warner's (TWX) Turner Broadcasting unit, the Wall Street Journal reports. The program will be called "America's Greatest Makers" and will engage "do-it-yourselfers" who turn microchips and other components into devices and gadgets, competing for a $1M prize, the report says. The show is scheduled to appear on TV and other media channels in 2016, the report adds. Reference Link
August 18, 2015
18:43 EDTAAPLApple denies report of 48% Apple Music retention rate, The Verge says
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18:30 EDTINTCChip makers advance after Analog Devices reports Q3 financial results
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16:00 EDTAAPLOptions Update; August 18, 2015
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15:54 EDTAAPL48% of Apple Music listeners give up streaming, Cult of Mac says
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13:35 EDTINTCMicrochip selects Intel technology to enhance Internet-of-Things security
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13:32 EDTINTCAtmel collaborates with Intel on Internet of Things applications
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10:17 EDTFOXADisney downgraded as Wells moves away from content providers
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10:00 EDTFOXAOn The Fly: Analyst Downgrade Summary
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09:39 EDTAAPLActive equity options trading on open
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07:56 EDTFOXA21st Century Fox downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded 21st Century Fox (FOXA) to Market Perform with a $31-$33 price target range saying value is shifting from content to distribution. Wells also downgraded Disney (DIS) and CBS (CBS) this morning to Market Perform while cutting its Diversified Media sector view to Market Weight. Time Warner (TWX) remains its only Outperform-rated media stock. Shares of Disney closed yesterday up $1.88 to $109.05.
07:13 EDTFOXA21st Century Fox downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded 21st Century Fox (FOXA) to Market Perform with a $31-$33 price target range saying value is shifting from content to distribution. Wells also downgraded Disney (DIS) and CBS (CBS) this morning to Market Perform while cutting its Diversified Media sector view to Market Weight. Time Warner (TWX) remains its only Outperform-rated media stock. Shares of Disney closed yesterday up $1.88 to $109.05.
07:12 EDTTWX, FOXADisney downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Disney (DIS) to Market Perform with a $112-$119 price target range saying value is shifting from content to distribution. Wells also downgraded CBS (CBS) and 21st Century Fox (FOXA) this morning to Market Perform while cutting its Diversified Media sector view to Market Weight. Time Warner (TWX) remains its only Outperform-rated media stock. Shares of Disney closed yesterday up $1.88 to $109.05.
06:30 EDTAAPLU.S. PTO views Apple D'677 iPhone design patent as invalid, Foss Patents says
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06:15 EDTAAPLNew Apple TV's OS to be TV-optimized version of iOS 9, 9to5Mac reports
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05:55 EDTAAPLQualcomm to supply all modem chips for next iPhone, DigiTimes reports
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