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Stock Market & Financial Investment News

News For VIX;F;GOOG;FB;AAPL;BAC From The Last 14 Days
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January 29, 2016
07:31 EDTBACBank, financial stocks look cheap, says Oppenheimer
After an index of bank stocks fell 19% since last summer, versus an 8% decline for the S&P, Oppenheimer says that "the group looks cheap." The firm says that banks' balance sheets will remain strong whether the economy is resilient or enters a downturn. The firm says that the banks' Q4 results were stable, and it expects the group to benefit from steady loan growth and slightly rising NIMs in 2016. Oppenheimer continues to recommend Bank of America (BAC), Citi (C), Goldman Sachs (GS), Discover (DFS), and Fifth Third (FITB)
06:29 EDTFB, GOOGOptions expected to be active: AMZN EA MSFT EWJ FLEX SWKS GOOG GOOGL FB
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06:28 EDTAAPLApple working on wireless-charged phone, Bloomberg says
Apple is working with partners in the U.S. and Asia to create new wireless charging technology that could work on mobile devices possibly as soon as next year, Bloomberg reports, citing people familiar with the plans. Apple is eyeing new technologies that would allow iPhones and ipads to be powered from further away than charging mats, the report says. Reference Link
05:51 EDTFBFacebook shutting down Parse service
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05:11 EDTFBStocks with implied volatility below IV index mean; UA FB
Stocks with implied volatility below IV index mean; Under Armour (UA) 37, Facebook (FB) 32 according to iVolatility.
January 28, 2016
19:45 EDTFBFacebook patent outlines potential ride-sharing features
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19:09 EDTGOOG, FBOn The Fly: After Hours Movers
UP AFTER EARNINGS: Gigamon (GIMO), up 15.2%... QLogic (QLGC), up 11%... Fortinet (FTNT), up 9.2%... ShoreTel (SHOR), up 5.7%... Skyworks (SWKS), up 3.6%... Flextronics (FLEX), up 4.6%... Microsoft (MSFT), up 3.6%... Proofpoint (PFPT), up 3.1%. ALSO HIGHER: Palo Alto Networks (PANW) is up 1.1% and FireEye (FEYE) is up 1.6% after Fortinet reported quarterly results. DOWN AFTER EARNINGS: Amazon.com (AMZN), down 13.2%... Synaptics (SYNA), down 3.8%... Electronic Arts (EA), down 8%... Quality Systems (QSII), down 9%... Visa (V), down 1.2%. ALSO LOWER: Facebook (FB) is down 1.2%, Netflix (NFLX) is down 2.7%, and Alphabet (GOOG, GOOGL) is down 1.5% and 1.7%, respectively, after Amazon reported quarterly results.
18:19 EDTBAC, AAPLBank of America, Wells Fargo to integrate Apple Pay in ATMs, TechCrunch says
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16:40 EDTFBOn The Fly: Top stock stories for Thursday
The Dow began the session with triple digit gains thanks in part to solid earnings reports from some of America's bellwether corporations and oil prices, which approached $34 a barrel. The market was unable to hold its opening gains and eventually crossed into negative territory. Before the losses became too big the averages reversed and moved back across the flat line. With oil holding onto its gains and closing above $33 a barrel, the averages closed in positive territory ahead of the next barrage of earnings reports. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 15.5% to $109.11 after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. Facebook management made only one mention of macro concerns for the business in 2016, significantly different than Apple's (AAPL) earnings call on Tuesday night, Munster pointed out... Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded 4.7% to $61.08 after the company jumped over the lowered bar that had been set by bearish analysts... Under Armour (UA), which had similarly been the focus of concern recently for some bearish analysts, posted better than expected results on the top and bottom line and backed its fiscal year revenue forecast, proving its doubters wrong and sending its share rocketing up 22.5% to $84.00. MAJOR MOVERS: Among the notable gainers were Intrexon (XON), Inovio (INO) and Cerus (CERS), which gained a respective 10%, 7.6% and 1.4% as the ongoing Zika virus scare brought attention to the companies' efforts fighting the illness. Also higher were SolarCity (SCTY), Sunrun (RUN) and Vivint Solar (VSLR), with the solar stocks jumping 8.5%, 20.5% and 3.6%, respectively, after the California Public Utilities Commission approved new net-metering rules. Meanwhile, Eagle Pharmaceuticals (EGRX) rose 12.2% to $74.44 after announcing commercial availability of its Bendeka injection in partnership with Teva (TEVA). Among the noteworthy losers was Yahoo (YHOO), which lost 3.2% to $28.75 despite a pre-market spike after SpringOwl Asset Management urged the company to seek an investment from a strategic partner. The news was also followed by reports that CEO Marissa Mayer has started restructuring efforts with an "invest/maintain/kill" list, as well as news that Verizon (VZ) denied a report that it had bid for the company's core Internet business. Also lower were OSI Systems (OSIS), Qualcomm (QCOM) and eBay (EBAY), which fell a respective 31.8%, 8.3% and 12.5% following their quarterly earnings reports. INDEXES: The Dow rose 125.18, or 0.79%, to 16,069.64, the Nasdaq gained 38.51, or 0.86%, to 4,506.68, and the S&P 500 advanced 10.41, or 0.55%, to 1,893.36.
16:00 EDTFB, AAPL, BACOptions Update; January 28, 2016
iPath S&P 500 VIX Short-Term Futures down 84c to 25.21 Option volume leaders: FB AAPL MSFT AMZN NFLX BAC BABA QCOM AAL MU C RIG
15:43 EDTFFord looks inexpensive, Barron's reports
After having fallen 21% over the past year, shares of Ford look cheap as they trade at a price to earnings ratio of only six and sport a 5% yield, Barron's reports. Reference Link
15:05 EDTAAPL, GOOGEarnings Watch: Analysts more bullish on Microsoft since last quarter's blowout
Microsoft (MSFT) is scheduled to report results of its second quarter of fiscal year 2016 after the market close on Thursday, January 28, with a conference call scheduled for 5:30 pm ET. Microsoft, a member of the Dow Jones Industrial Average, sells and licenses software to consumers and businesses, offers cloud computing and other business services, and markets computer, phone and gaming hardware. EXPECTATIONS: Analysts are looking for earnings per share of 71c on revenue of $25.26B, according to First Call. The consensus range for EPS is 66c-75c on revenue of $24.62B-$25.92B. On its last earnings conference call, Microsoft said it expected Q2 productivity revenue of $6.6B-$6.67B, Q2 revenue for intelligent cloud of $6.2B-$6.3B and Q2 personal computing revenue of $12B-$12.4B. LAST QUARTER: On October 22, Microsoft reported first quarter earnings per share of 67c, beating the consensus analyst forecast of 59c. The company's revenue came in at $21.7B, topping the consensus estimate of $21.03B. NEWS: On December 17, Microsoft announced a new joint venture that will license, deploy, manage and optimize Windows 10 for China's government agencies and certain state owned enterprises and provide ongoing support and services for these customers. That announcement followed Microsoft inking a partnership with Baidu (BIDU) to make it easy for their customers to upgrade to Windows 10 while providing local browsing and search experiences, and universal apps. On January 4, Microsoft said in a blog post that operating system Windows 10 was currently active on over 200M devices, bringing the company closer to its goal of seeing Windows 10 active on more than 1B devices. STREET RESEARCH: On the day after the company's last earnings report, BofA Merrill Lynch analyst Kash Rangan upgraded Microsoft to Buy from Neutral, saying he believes the company was at a turning point with its operating income headed for growth following four years of flattish performance. At the time, Rangan increased his price target on the stock to $63 from $46. On November 20, Deutsche Bank analyst Ross Sandler wrote in a note to investors that actions taken by Google parent Alphabet (GOOG) and comments made by its executives indicated that the tech giant plans to make a major push in the cloud infrastructure market. Based on a comment from executive Urs Holzle that the company's revenue from the cloud could surpass its ad revenue by 2020, Sandler estimated that the company is seeking to boost its cloud revenue to $100B by 2020. Google's push in the cloud is negative for Microsoft, but it will take years for Google to build up its cloud business to the point where it's competitive with Microsoft's cloud offering, Azure, the analyst contended. On November 30, Raymond James analyst Michael Turits upgraded Microsoft two notches to Strong Buy from Hold, predicting that the tech giant will become one of the few large scale cloud vendors that can succeed across the industry's three main segments. Microsoft will emerge alongside Amazon (AMZN) and Google as part of a small group of "hyperscale" cloud vendors that can combine Infrastructure-as-a-Service, Platform-as-a-Service and Software-as-a-Service, predicted Turits. Forecasting that Microsoft's cloud revenue will grow at a compound annual growth rate of 6% between fiscal 2016 and fiscal 2018, the analyst estimated that the company's overall profit growth would accelerate to at least 8% over the long-term. Moreover, the growth of Microsoft's Office business appears to be accelerating, despite competition from Google, said Turits, who set a $62 price target on the shares. On January 13, Morgan Stanley analyst Keith Weiss upgraded Microsoft to Overweight, the firm's equivalent of a "Buy" rating, from Equal Weight. Microsoft is emerging as a public cloud winner, is gaining share in the data center market and Office 365 is seeing its base grow and its per user pricing increase, all of which set up the company to resume earnings growth after a five year period of stagnation, Weiss told investors. The analyst, who believes Microsoft's earnings growth and "aggressive" return of capital to shareholders should help its multiple expand, raised his price target on the stock to $66 from $57. This morning, UBS analyst Brent Thill said that given Apple's (AAPL) recent negative commentary around macro uncertainty he was lowering his second half of the year estimates for Microsoft on the potential for more conservative guidance when it issues its Q2 report after the closing bell. Thill trimmed his price target on Microsoft to $58 from $60, but said he remains confident the company is making the right moves to the cloud and kept a Buy rating on shares. PRICE ACTION: On the day after the company's last quarterly report, Microsoft shares jumped 10.4% to $53.03. In late afternoon trading ahead of Thursday's report, Microsoft advanced 1.25% to $51.86.
14:17 EDTAAPLApple acquires education technology startup LearnSprout, Bloomberg says
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13:53 EDTAAPLApple acquires education technology startup LearnSprout, Bloomberg reports
13:07 EDTFB, AAPLFacebook says expanding ability to share live video in U.S. via iPhone
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12:20 EDTFBOn The Fly: Top stock stories at midday
Stocks on Wall Street have moved all over the place in a wild morning of trading. The averages opened sharply higher as oil prices rose above $34 a barrel. The Dow opened with triple digit gains but following reports from Iraq that it would increase oil production, and refutations of rumors that OPEC might cut production, the commodity began to weaken, taking equities with it. The averages turned negative and it looked like another rout might be in the making. Before the market fell too far, it gathered itself and moved back into positive ground and the major averages are now in the green, but not far from where they ended yesterday's session. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 14.5% after the social media giant's fourth quarter earnings and revenue beat expectations. Wall Street analysts were nearly unanimous in their praise following the report, with a number increasing their price targets for its shares... Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded about 2% this morning after the company jumped over its lowered profit hurdle... Shares of eBay (EBAY) and PayPal (PYPL) diverged after the recently-split companies reported their respective fourth quarter results and gave guidance, with eBay falling 13% and PayPal rising 7% near midday... The Dow Jones US Healthcare ETF (IYH) fell over 2% at midday after a number of big-names in the space gave disappointing guidance. Celgene (CELG) fell 5% following its Q4 report and fiscal year outlook, while Abbott (ABT) dropped 8% in the wake of its own results and guidance. MAJOR MOVERS: Among the notable gainers was Kinder Morgan (KMI), which rallied 8.5% after it was upgraded at Credit Suisse and Stifel. Also higher were Under Armour (UA), Dolby (DLB) and Deluxe (DLX), which gained 18%, 11% and 9%, respectively, after reporting quarterly earnings. Among the noteworthy losers was OSI Systems (OSIS), which fell 35% and was downgraded to Hold at BB&T following downbeat quarterly earnings. Also lower were Qualcomm (QCOM) and Discover (DFS), which each dropped about 7% after their quarterly earnings reports. INDEXES: Near midday, the Dow was up 1.37, or 0.01%, to 15,945.83, the Nasdaq was up 21.12, or 0.47%, to 4,489.28, and the S&P 500 was up 3.36, or 0.18%, to 1,886.31.
10:52 EDTFBStocks with call strike movement; QCOM FB
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10:34 EDTAAPLApple supplier Cirrus jumps after results beat expectations
The shares of Cirrus Logic (CRUS) are surging after the company reported stronger than expected third quarter results last night. Research firm Oppenheimer responded to the news by upgrading the stock to Outperform from Market Perform. Cirrus, which develops integrated circuits, is said to get about 75% of its revenue from Apple (AAPL). WHAT'S NEW: Cirrus reported Q3 EPS of 82c, versus analysts' consensus outlook of 81c. The company's revenue also came in slightly above expectations. However, it provided Q4 revenue guidance of $225M at the midpoint of their range of $210M-$240M, versus the consensus outlook of about $260M. However, Cirrus said that it continues to expect its revenue to increase more than 15% in its upcoming fiscal year. "Short-term weakness for certain audio products" caused Cirrus' Q3 results and Q4 outlook to be weaker than the company originally expected, the company stated. iPhones, whose sales came in below analysts' consensus forecast last quarter, utilize audio products from Cirrus. Cirrus CEO Jason Rhode said he remains upbeat about the company's prospects, stating, "We are confident that our strategy of focusing on innovative market leading customers in the fastest growing audio and voice segments will fuel future growth." Rhode added that Cirrus expects to sell more products to its existing customers going forward. ANALYST REACTION: Oppenheimer analyst Rick Schafer upgraded Cirrus to Outperform from Market Perform in a note to investors today. Apple will utilize a smart codec from Cirrus to reduce noise in the earbuds of the upcoming iPhone 7 device, Schafer predicted. As a result, Cirrus will obtain an average of about $5.50 for each iPhone 7 sold, up from about $3.50 for the iPhone 6 and iPhone 6+, the analyst estimated. Meanwhile, Cirrus is selling more of its smart codecs and audio amps to Android smartphone makers, accrding to Schafer. He raised its 2017 EPS estimate for the company to $3.30 from $2.74, and he thinks the company's results could beat expectations through the second half of this year. Schafer set a $40 price target on the shares. PRICE ACTION: In early trading, Cirrus climbed 15.5% to $32.29.
10:13 EDTFBOptions with decreasing implied volatility
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10:05 EDTAAPLApple recalls wall plug adapters outside the U.S.
Apple announced a voluntary recall of AC wall plug adapters designed for use in Argentina, Australia, Brazil, Continental Europe, New Zealand and South Korea. "In very rare cases, affected Apple two-prong wall plug adapters may break and create a risk of electrical shock if touched," the iPhone maker said in a statement. The wall plug adapters shipped with Mac and certain iOS devices between 2003 and 2015 and were also included in the Apple World Travel Adapter Kit. Apple is aware of 12 incidents worldwide. The recall does not affect any other Apple AC wall plug adapters designed for Canada, China, Hong Kong, Japan, United Kingdom, United States or any Apple USB power adapters.
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