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Stock Market & Financial Investment News

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February 24, 2014
04:55 EDTVIA, VIA, VIA, VIA, EMC, EMC, EMC, EMC, C, C, C, C, CSCO, CSCO, CSCO, CSCO, T, T, T, T, ALU, ALU, ALU, ALU, IBM, IBM, IBM, IBM, LNKD, LNKD, LNKD, LNKD, INTC, INTC, INTC, INTC, SAP, SAP, SAP, SAP, EA, EA, EA, EA, FB, FB, FB, FB, CTXS, CTXS, CTXS, CTXS, IT, IT, IT, IT, WMT, WMT, WMT, WMTGSM Association to hold a conference
Mobile World Congress 2014 is being held in Barcelona, Spain on February 24-27.
News For VIA;IT;CTXS;FB;EA;SAP;INTC;LNKD;IBM;ALU;T;CSCO;C;EMC;WMT From The Last 14 Days
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January 20, 2015
13:01 EDTWMTWal-Mart launches cash pickup option for tax refunds
As Americans begin to file their tax returns, Walmart (WMT) announced the launch of a first-of-its-kind service that allows consumers to “skip the check” and pick up their tax refunds in cash. Walmart Direct2Cash is available nationwide starting today and will help customers save time and money when compared to traditional tax refund options. Walmart is working with Tax Products Group, a Green Dot Company (GDOT), and Republic Bank & Trust Company, member FDIC, two providers of tax-related financial products and services, to provide Walmart Direct2Cash as an option to millions of customers. The more than 25,000 tax preparation locations using software with the Walmart Direct2Cash option may provide this service for no additional fee or charge a maximum of $7 at the time of filing. Walmart does not charge customers a fee when refunds are claimed in a store.
11:15 EDTINTCIntel slips after JMP cuts to sell, Canaccord says upgrade not yet warranted
Following Intel's (INTC) fourth quarter results last week, two research firms issued cautious notes on the stock today. JMP Securities downgraded the stock to Underperform, which is the firm's "Sell" equivalent rating, while Canaccord kept a Hold rating on the shares, though the latter firm said its outlook on the company's fundamentals is continuing to become more positive and raised its price target on the name. WHAT'S NEW: Intel's Q4 results were "mixed," but the company's fundamentals appear to have improved, Canaccord analyst Matt Ramsay wrote in a note to investors today. The company's data center group and Internet of Things group should generate sustained 15%+ and 20%+ growth, respectively, over the next several years, the analyst stated. Meanwhile, Intel's PC client group should be able to cut costs further, Ramsay believes. The analyst said he had "intended to upgrade the stock" after the results, given his long-term upbeat view of the company, but was unable to do so. Ramsay explained that he changed his mind because he does not think the company's profits will increase at all this year, while the stock largely already reflects his expectations for solid profit growth in 2016. The analyst increased his price target on the shares to $40 from $36 but kept a Hold rating on the stock. More bearish was JMP Securities analyst Alex Gauna. Gauna downgraded the stock to Underperform from Market Perform and set a $30 price target on Intel. After speaking with a source who sells server components, the analyst reported that the source's business has been weak this month. Weak server component sales are likely to pull down Intel's stock, given its relatively high valuation, the analyst stated. Meanwhile, Intel's gross margins have probably peaked, Gauna believes. PRICE ACTION: In morning trading, Intel fell 1.7% to $35.82.
09:44 EDTWMTSupreme Court denies appeal of 'swipe fee' ruling, Reuters reports
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09:38 EDTCActive equity options trading
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09:11 EDTSAPOn The Fly: Pre-market Movers
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08:07 EDTINTCIntel downgraded at JMP Securities
As noted earlier, JMP Securities downgraded Intel to Underperform from Market Perform. The firm reports that industry sources said there has been a sharp downturn in server activity going into 2015.
07:59 EDTINTCIntel upgrade not warranted due to lack of EPS growth, says Canaccord
Canaccord said it intended to upgrade Intel following its mixed Q4 results, but with estimates for essentially no earnings growth in 2015, the firm could not justify it. As a result, Canaccord raised its price target to $40 from $35 on Intel shares and maintained its Hold rating, but noted it stands ready to upgrade the stock on a pullback.
07:39 EDTIBMIBM January weekly volatility elevated into Q4 and outlook
IBM January weekly call option implied volatility is at 53, February is at 25, April is at 22; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q4 results today after the market close.
07:25 EDTVIAViacom buys 50% stake in five Indian TV channels, WSJ says
Viacom (VIA, VIAB) is completing a deal with India's Reliance Industries giving it 50% ownership of five Indian TV channels for an undisclosed sum, reports the Wall Street Journal. Competitors including Discovery Communications (DISCA), 21st Century Fox (FOX, FOXA), and AMC Networks (AMCX) are similarly looking towards foreign investment as U.S. consumers move away from traditional cable packages. PricewaterhouseCoopers predicts 16% annual growth in Indian TV revenue over the next five years. Reference Link
07:20 EDTVIAViacom weakness overdone, says RBC Capital
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07:15 EDTSAPSAP not interested in buying competitors Workday, Salesforce, Bloomberg reports
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06:57 EDTFBFacebook to upgrade Messenger app, experiment with revenue generation, WSJ says
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06:24 EDTTT-Mobile warns of unsustainable costs against cellphone giants, Re/code says
T-Mobile (TMUS) owner Deutsche Telekom (DTEGY) claims Verizon (VZ) and AT&T's (T) wealth makes true competition difficult, reports Re/code, citing statements made at Germany's DLD conference. Deutsche Telekom CEO Tim Hoettges stated the dominance of AT&T and Verizon allowed them to make huge bids at the latest midband spectrum auction to further their market lead. Hoettges also stated he was "intrigued" by last year's unsuccessful merger talks with Sprint (S), and warned that T-Mobile's $4B-$5B investment requirements per year are unsustainable. Reference Link
06:12 EDTINTCIntel downgraded to Underperform from Market Perform at JMP Securities
06:02 EDTFBFacebook acquires boutique firm Teehan+Lax, terms not disclosed
Toronto-based boutique firm Teehan+Lax announced in a blog post on Friday that the company will join Facebook's design team in California. T+L said "In a few weeks we will be moving to the San Francisco Bay Area. This will mean saying goodbye to family, friends, Toronto, and Teehan+Lax." Terms of the deal have not been disclosed. Reference Link
05:25 EDTSAPSAP reports preliminary Q4 non-IFRS EPS EUR 1.31 vs. EUR 1.28 last year
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January 18, 2015
16:57 EDTCCiti may have lost more than $150M on Swiss franc volatility, Bloomberg says
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16:34 EDTFBFacebook job listings hint at push into virtual reality, Reuters says
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15:14 EDTCMashreqbank interested in Citigroup’s Egyptian consumer unit, Bloomberg says
Dubai-based bank, Mashreqbank PSC confirmed it is interested in acquiring Citigroup’s Egyptian consumer banking unit, says Bloomberg citing comments from Mashreqbank PSC CEO Abdul Aziz Al Ghurair. Reference Link
13:45 EDTTGoogle in talks to acquire mobile-pay platform Softcard, WSJ says
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