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Stock Market & Financial Investment News

News For VIX;MSFT;FB;AAPL;BAC From The Last 14 Days
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March 30, 2015
16:00 EDTFB, AAPLOptions Update; March 30, 2015
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12:45 EDTAAPLApple giving store credit for non-iPhone smartphones, 9to5mac says
For the first time, Apple is allowing consumers to receive credit for some smartphones not made by Apple at Apple Retail Stores, according to 9to5mac. The credit can be used towards the purchase of a new iPhone 5c, iPhone 6, or iPhone 6 Plus, the website noted, adding that it reported earlier this month that Apple was planning to launch such a program. Reference Link
12:22 EDTAAPLOn The Fly: Midday Wrap
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07:49 EDTAAPLBarclays ups Analog Devices on Apple design wins
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07:44 EDTBACBasel Committee says new regulations unlikely, FT reports
In an interview with the Financial Times, Basel Committee secretary-general William Coen stated most of the post-financial crisis bank regulation is in place, and the committee will now spend 2015 providing clarity on existing regulation. Coen stated that he is strongly inclined to review bank trading book rules by year's end, though the committee's review of market risk regulations may or may not be completed this year. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:28 EDTAAPLApple May volatility elevated at 32
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06:20 EDTMSFTMicrosoft buys LiveLoop, terms not disclosed, WSJ reports
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05:35 EDTAAPLAnalog Devices upgraded to Overweight from Equal Weight at Barclays
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March 29, 2015
18:02 EDTBACECB stimulus may boost trading opportunities for investment banks, Reuters says
The European economic stimulus plan may boost trading opportunities for major investment banks whose profits have been curtailed by an increase in financial regulations since the financial crisis, says Reuters. publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
17:33 EDTFBFacebook looks to entice Chinese advertisers, WSJ says
Even though Chinese citizens can't yet use its service, Facebook is ramping up its efforts to tap into Chinese advertisers, says the Wall Street Journal. The ramp-up in its China advertiser outreach comes as the social media company intensifies its efforts to someday enter China, added the Wall Street Journal. Reference Link
March 27, 2015
19:00 EDTMSFTMicrosoft, Yahoo extend search partnership discussions for 30 days
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16:01 EDTAAPL, FBOptions Update; March 27, 2015
iPath S&P 500 VIX Short-Term Futures down 31c to 25.74 Option volume leaders: AAPL TSLA TWTR RAD FB PBR AMZN DOW VLO AMAT ALTR according to Track Data.
13:47 EDTBACBofA Merrill's John Cavanagh leaves bank, Reuters reports
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11:09 EDTFBStocks with call strike movement; FB BABA
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09:37 EDTBACGoldman Sachs overtakes JPMorgan in commodities rankings, Reuters says
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09:37 EDTAAPLActive equity options trading on open
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08:07 EDTFBFacebook positioned as dominant mobile and social platform, says RW Baird
Baird attended a developers conference which reinforced their view that Facebook was well positioned as a dominant mobile and social platform. The firm noted its new Messenger strategy, the expansion of LiveRail's mobile display support, and the potential to capitalize on the evolution of online consumer behavior. Baird reiterated its Outperform rating and raised its price target to $96 from $93 on Facebook.
07:43 EDTFBFacebook price target raised to $98 from $89 at Barclays
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06:14 EDTAAPLApple secretly acquired Acunu in 2013, Bloomberg reports
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06:14 EDTAAPLAT&T betting on slow decline in traditional cable packages, WSJ says
AT&T (T) knew that demand for cable bundles had likely peaked when it bought DirecTV (DTV), but the company believes the decline in traditional cable businesses will be slower than anticipated, allowing it to fund upgrades to its broadband network, reports the Wall Street Journal, citing statements by Chief Strategy Officer John Stankey. "The world is going to be broadband... and that is where we want to be," said Stankey. The Journal notes that Apple (AAPL), Time Warner's (TWC) HBO, and Dish (DISH) have launched or plan to launch web-TV packages and services. Reference Link
06:04 EDTFBFacebook to test drone this summer, WSJ says
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05:57 EDTMSFTMicrosoft to push 2 inexpensive notebooks in mid-2015, DigiTimes says
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March 26, 2015
16:01 EDTFB, AAPLOptions Update; March 26, 2015
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12:38 EDTAAPLApple Watch inventory to be constrained initially, 9to5mac says
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12:17 EDTAAPL, MSFTEarnings Preview: Analyst sees BlackBerry's revenue bottoming in Q4
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12:09 EDTFBBattleground stock: Analysts take opposite sides on Twitter
Twitter is emerging as a battleground stock with Rosenblatt today starting coverage with a Buy rating while Stifel kept its Sell rating highlighting what it sees as weak operating metrics. BULLISH TAKE: Twitter's revenue and earnings before interest taxes depreciation and amortization, or EBITDA margin are poised to rebound, Rosenblatt analyst Martin Pyykkonen wrote in a note to investors today. Among the company's positive catalysts are video clip ads which should prove popular with marketers, higher ad load rates, additional products that will increase user growth and the expansion of the company's sales force, which is reaching critical mass, the analyst believes. In general, Twitter can further monetize its ads starting this year by using targeted advertising, contended Pyykkonen. Twitter's ad targeting capabilities are at least as strong as those of Facebook (FB), added the analyst. Meanwhile, the company's recently acquired Periscope product, which enables live video streaming, could significantly affect Twitter's usage trends, he contended. BEARISH TAKE: Twitter's risk/reward ratio is negative, and the company's second quarter guidance may come in below consensus estimates, wrote Stifel analyst Scott Devitt. The company is facing a tough comparison in Q2, as its results in the quarter last year were boosted by the World Cup, Devitt stated. Moreover, Twitter has not significantly improved its core product, and the website may be less popular than investors expect, the analyst contended. Additionally, Facebook has launched a number of initiatives, including trending topics updates and a deal to distribute NFL clips, that compete with Twitter's core competencies, the analyst wrote. He kept a $38 price target and Sell rating on Twitter. PRICE ACTION: In mid-morning trading, Twitter rose 2% to $50.50.
11:46 EDTBACBofA: Naming CEO Moynihan chairman followed 'probing independent review'
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11:20 EDTFBJudge says Zynga shareholders can pursue claims against company, Reuters says
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09:36 EDTFB, AAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GILD TWTR FB KRFT BIDU TSLA CELG NFLX FCAU
08:17 EDTBACSEC Chairwoman proposes new 'dark pool' regulation, NY Post says
Securities and Exchange Commission Chairwoman Mary Jo White proposed new regulation Wednesday that would require high-frequency traders to register with the Financial Industry Regulatory Authority and provide the agency with a daily paper trail, reports the New York Post. The Post notes that there is a 60-day comment period before any SEC rule is finalized. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:21 EDTAAPLApple price target raised to $145 from $140 at Credit Suisse
Credit Suisse raised Outperform rated Apple's price target to $145 and increased estimates based on near-term iPhone strength, better mix, and Watch awareness, all of which should offset currency headwinds.
06:59 EDTFBFacebook video outpaces YouTube in recent metrics, BI says
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06:58 EDTAAPLApple may introduce trade-in program for iPhones in China, Bloomberg reports
Apple plans to launch a trade-in program for iPhones in China with FoxConn Technology, reports Bloomberg. According to people familiar with the effort, consumers will be able to take older iPhones to Apple stores for credit against the company's products as soon as March 31. Foxconn will buy and re-sell the phones as part of the program. Reference Link
06:41 EDTFBTwitter to outpace Yahoo in display ad revenue, WSJ says
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06:32 EDTMSFTGameStop pre-owned sales may see boost in Thursday earnings release, WSJ says
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06:13 EDTFBFacebook expands ad platform to include user data, Re/code says
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05:59 EDTAAPLApple Watch yields low but are increasing, DigiTimes reports
Apple Watch yields in Q1 are reportedly mostly below 50%, but supply chain makers have noted the yields are on the rise, reports DigiTimes. Total shipments are for the device during 2015 are expected to reach 15M after an initial 4M shipments in Q1. Due to low yields in assembly and overall production , makers estimate the device will see an initial 2-2.2M in shipments before its release in April. Reference Link
05:58 EDTAAPLApple expected to release 3 new iPhone models in 2H15, DigiTimes reports
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05:56 EDTAAPLTSMC to supply chips for rumored iPhone 6S and 6C models, DigiTimes reports
TSMC (TSM) will remain the major processor supplier for Apple (AAPL) in 2H15, reports DigiTimes. According to industry sources, TSMC will supply 20nm chips for the upcoming 6S and 6C models. TSMC is reportedly the sole supplier of processors for Apple's iPhone 6 and 6 Plus. Reference Link
March 25, 2015
19:21 EDTAAPLApple, Beats working on streaming music service to rival Spotify, NY Times says
Apple (AAPL) is working with Beats to introduce a subscription streaming service to compete directly with services such as Spotify, according to the New York Times, citing people briefed on the company’s plans. Additionally, Apple is expected to overhaul iTunes Radio, the free service that competes with Pandora (P), the Times added. Reference Link
16:00 EDTAAPL, FBOptions Update; March 25, 2015
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14:45 EDTFBFacebook testing new video autoplay feature, Re/code says
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13:43 EDTFBzulily rises after teaming with Facebook on messenger platform
Shares of (ZU) moved higher after Facebook (FB) CEO Mark Zuckerberg discussed the social network's new Businesses on Messenger product at today's developer conference. The product's initial partners in the retail vertical are zulily and Everlane, Zuckerberg announced. Zendesk (ZEN) will power Facebook's new messenger product, the company announced in a press release. Shares of zulily are up 38c to $13.40 as Zuckerberg's keynote speech continues.
13:37 EDTFBZendesk announces messenger partnership with Facebook
Zendesk (ZEN) announced a partnership to power Facebook's (FB) new Businesses on Messenger product. "Through an integration of its Zopim chat product with Messenger, Zendesk is allowing businesses to provide scalable and responsive customer service to the more than 600 million people worldwide who use Messenger," the company said. Online retailers zulily (ZU) and Everlane are the first two companies using the integration to support their customers, Zendesk added.
13:33 EDTFBzulily jumps after Facebook says initial partner on messenger platform
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10:56 EDTFBFacebook amasses 600M users on Messenger service, CNBC reports
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10:31 EDTMSFTUBS software analyst to hold an analyst/industry conference call
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09:45 EDTAAPLApple to complete R&D facility in Yokohoma, Japan in 2016, Apple Insider reports
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09:35 EDTFB, AAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TWTR TSLA KRFT FB BIDU GPRO V GILD NFLX
09:24 EDTAAPLBernstein autos/US IT hardware analysts hold analyst/industry conference call
0U.S. IT Hardware Sacconaghi and Global Autos Warburton discuss whether Apple is really considering building a car on an Analyst/Industry conference call on an Analyst/Industry conference call to be held on March 26 at 11 am.
07:26 EDTFBFacebook to hold a conference
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06:40 EDTFBFacebook volatility at low end of range into Developers Conference
Facebook March weekly call option implied volatility is at 29, April is at 23, May is at 23; compared to its 26-week average of 30 according to Track Data, suggesting decreasing price movement into today's Developer Conference in San Francisco.
06:08 EDTAAPLApple Watch may face yield issues at launch, AppleInsider says
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06:05 EDTFBFacebook announces 'On This Day' feature
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06:02 EDTFBFacebook leaks announcements from F8 conference, Business Insider reports
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06:00 EDTAAPLApple acquires FoundationDB, terms not disclosed, TechCrunch reports
FounadtionDB, a company specializing in speedy, durable NoSQL databases, has been acquired by Apple, TechCrunch reports. Terms of the deal have not been disclosed, and a notice on FoundationDB's site says that it is no longer offering downloads of its database software. Reference Link
05:52 EDTAAPLSamsung set to lead smartphone market in 2015, DigiTimes Research reports
Samsung (SSNLF) is set to lead the smartphone vendor rankings in 2015, reports DigiTimes Research. Samsung and Apple (AAPL) is expected to ship 330M and 230M smartphones, respectively in 2015, while Lenovoy (LNVGY) is set to up its shipments to 84M units. Reference Link
March 24, 2015
16:00 EDTFB, AAPLOptions Update; March 24, 2015
iPath S&P 500 VIX Short-Term Futures down 10c to 25.14 Option volume leaders: AAPL TSLA TWTR GILD FB AMAT GOOG C MRK GILD according to Track Data.
13:57 EDTMSFTMicrosoft partnering with Adobe on Project Spartan
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11:53 EDTAAPLApple May volatility elevated at 29
Apple March weekly call option implied volatility is at 22, April is at 21, May is at 29, June is at 25; compared to its 26-week average of 26.according to Track Data, suggesting large May price movement.
10:50 EDTFBStocks with call strike movement; FB BABA
Facebook (FB) September 95 call option implied volatility increased 2% to 27, Alibaba (BABA) July 92.5 call option implied volatility increased 2% to 30 according to IVolatility.
10:50 EDTFBFly Watch: Facebook to unveil tools, products at F8 developer conference
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10:35 EDTAAPLNetflix seen by Cantor as 'clear winner' as TV unbundles
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10:08 EDTFBFacebook in discussions with firms on 'Anthology' videos, The Information says
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09:38 EDTAAPL, FBActive equity options trading on open
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09:25 EDTAAPLApple awarded patent for GPS 'path sharing'
The U.S. Patent and Trademark Office awarded Apple patent number 8,989,773 which allows iPhone users to share GPS path data, enabling one user to see the physical path traveled by another user rather than just their current location. The patent also describes a "mirroring mode" which can replicate the screen of one iPhone onto the screen of another iPhone, allowing users to share the same map screen and zoom level. GPS data sharing would require approval by both iPhone users. Reference Link
07:45 EDTBACMetLife CEO letter may be early sign of bank earnings headwinds, WSJ says
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06:23 EDTFBFacebook in talks about hosting content from media companies, NY Times says
Facebook has been holding talks in recent months about hosting the content of at least six media companies inside Facebook, according to The New York Times. The social network intends to test the new format in the next several months, the newspaper stated. Reference Link
06:23 EDTFBInstagram announce launch of Layout app
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March 23, 2015
16:01 EDTFB, AAPLOptions Update; March 23, 2015
iPath S&P 500 VIX Short-Term Futures down 48c to 25.24 Option volume leaders: AAPL TSLA TWTR GILD CELG FB TSLA AMZN TEVA PBR according to Track Data.
16:00 EDTAAPLAmazon adds Pandora-like stations to Prime Music app, The Verge reports
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14:07 EDTAAPLApple update adds memory, Apple Watch ad, Business Insider says
Apple's iOS 8.2 update increases devices' memory by up to 0.5 gigabytes, Business Insider reported in a video. On a negative note, however, the update adds an Apple Watch app that is little more than an ad for Apple's upcoming watch, and the app can't be removed, Business Insider added. Reference Link
11:31 EDTMSFTMicrosoft and Samsung expand global partnership
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10:32 EDTAAPLApple positioned to reach $1 trillion market cap, Cantor says
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10:31 EDTAAPLReport: Apple may cut Watch shipments to 1.25M-1.5M units, Business Insider says
Apple may cut its Watch shipments to 1.25M-1.5M from 2.5M-3M, reports Business Insider. Citing Taiwanese publication UDN Mobile, sources within Apple's supply chain say the drop in shipment expectations is due to an issue regarding the production of the AMOLED display panels. Reference Link
10:17 EDTFBFacebook developing call-screening app, Android Police says
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09:56 EDTBACMassachusetts securities regulator fines Merrill Lynch $2.5M, Reuters reports
Massachusetts Secretary of the Commonwealth William Galvin has fined Bank of America's Merrill Lynch unit $2.5M for failing to supervise employees properly, Reuters reports. Merrill, Lynch, Pierce, Fenner & Smith was accused of failing to stick to its own compliance rules. Reference Link
09:37 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AUY SLB PFE MCP CELG VRTX SHPG GILD LOGI TSLA TASR NFLX SCTY WFM
09:32 EDTFBWedbush social media analysts
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09:19 EDTAAPLApple price target raised to $180 from $160 at Cantor
Cantor Fitzgerald analyst Brian White raised his price target on Apple shares to $180 from $160, which equates to a $1 trillion market capitalization. He believes the market will reward the tech giant with a higher price-to-earnings multiple given media reports of new areas of future innovation, the company’s entrance into a new product category with next month's watch launch, and its commitment to returning cash to shareholders. White thinks a web TV service, as reported last week by the Wall Street Journal, could be a "stepping stone" for Apple to eventually launch a full blown TV product. He adds that Apple's iPhone portfolio and position in China have "never been stronger." White keeps a Buy rating on the stock. Apple shares closed Friday at $125.90.
08:55 EDTAAPLApple FY15 iPhone unit estimate raised to 220M from 210M at BofA/Merrill
BofA/Merrill raised Apple's FY15 iPhone unit estimate to 220M from 210M following Asia checks that indicate iPhone supply chain momentum remains strong. The firm lowered its iPad FY15 unit estimates to 55.8M from 60M but said the next catalyst is in October when the larger screen is launched. For the Apple watch, BofA lowered FY15 unit estimates to 9M from 13M given slightly more conservative views and the tough manufacturing process. Shares are Buy rated with a $140 price target.
08:27 EDTFBFacebook continues to take total ad budget share, says JMP Securities
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08:27 EDTAAPLApple price target raised to $135 from $115 at Cowen
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08:13 EDTAAPLPendrell unit: Court rejects attempts to limit scope of DRM patents
ContentGuard Holdings, a subsidiary of Pendrell Corporation (PCO), announced that on Friday, March 20, Judge J. Rodney Gilstrap of the U.S. District Court for the Eastern District of Texas issued a 144 page Claim Construction Order in lawsuits ContentGuard filed against several companies who continue to use its patented Digital Rights Management solutions without a license, including Apple (AAPL), Amazon.com (AMZN), DirecTV (DTV), Google (GOOG), HTC, Huawei, Motorola Mobility and Samsung Electronics (SSNLF). In his order, Judge Gilstrap interpreted the language in ContentGuard’s patents in a manner that fully preserves the breadth of ContentGuard’s patented Digital Rights Management technologies. These technologies were developed to enable the distribution of digital media over the Internet and other networks, including cellular and satellite networks, and provide innovative solutions to problems that were once thought to be unsolvable. “We are very pleased with the Court’s ruling,” commented James Baker, ContentGuard’s Vice President for Licensing and Strategic Development. “We believe these claim constructions demonstrate that the online stores defendants provide for buying and renting DRM-protected movies, videos, books, and music and devices that play, run, display or print this DRM-protected content infringe ContentGuard’s pioneering DRM patents.”
06:28 EDTAAPLApple working on new version of Apple TV, BuzzFeed reports
Apple is working on a new version of its Apple TV streaming set-top box, BuzzFeed reported on Friday. Apple is said to be planning to announce the new Apple TV at its World Wide Developers Conference in June, and will also debut a software development kit allowing app developers to create their own apps for the streaming box. The new version of Apple TV will reportedly be a "significant overhaul of the device," and could introduce its own App Store in addition to adding Siri, Apple's virtual assistant. Reference Link
06:19 EDTAAPLAvago price target raised to $160 from $131 at Citigroup
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06:00 EDTAAPLFoxconn denies iPhone 6 devices stolen from China plant, DigiTimes reports
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March 22, 2015
17:07 EDTMSFTFTC disclosures embolden potential EU Google probe, WSJ says
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16:42 EDTAAPLChip equipment slowdown may not be as bad as first thought, WSJ says
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March 20, 2015
16:33 EDTAAPLStocks end week higher after market reads Fed statement as dovish
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16:00 EDTAAPLOptions Update; March 20, 2015
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12:45 EDTAAPLAnalyst says Apple deserves higher multiple ahead of TV streaming foray
Given Apple's (AAPL) reported foray into streaming TV, the stock's multiple should be higher, Morgan Stanley analyst Katy Huberty wrote in a note to investors today. WHAT'S NEW: Media reports about Apple's new streaming TV service support Morgan Stanley's thesis that the stock should trade at a multiple of 18x-19x, Morgan Stanley analyst Kate Huberty wrote in a note to investors today. Companies with content platforms trade at that level, on average, the analyst noted. Apple's stock is currently trading slightly below 15 times consensus 2015 profit estimates for the company. Noting that Apple has already announced a new online streaming deal with Time Warner's (TWX) HBO, and the New York Post reported that the tech giant is willing to share some viewership data with content owners, Huberty thinks that an Apple TV service seems to be more likely now than in past years. The analyst reiterated her belief, expressed in a previous note, that Apple should be compared to other companies that provide content platforms. Like other platform companies, Apple charges premium prices, its products are used every day by consumers, it has recurring revenue ,and it has the opportunity to expand its total market, the analyst stated. According to Huberty, TV is an $800B market, and the TV streaming market may be ready for prime time, as 20% of pay TV customers plan to cut the cord in the next year, a Morgan Stanley survey showed. The analyst kept a $160 price target and Overweight rating on the shares. WHAT'S NOTABLE: Taking a less favorable view of Apple on March 18 was research firm Jefferies, which predicted that the growth of the company's iPhones would decelerate further next quarter. The firm predicted that strong iPhone sales in China would propel the tech giants profit for the current quarter more than 10% above expectations, but it kept a Hold rating on the shares. PRICE ACTION: In early afternoon trading, Apple was fractionally higher near $128 per share.
10:36 EDTBACBank of America changes bylaws to allow some investors to nominate directors
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09:45 EDTAAPL, FBActive equity options trading on open
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08:25 EDTFBFacebook to announce new Messenger features next week, Tech Crunch says
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08:18 EDTAAPLApple deserves higher multiple with TV service coming, says Morgan Stanley
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08:01 EDTAAPLStifel says evidence supports Apple moving into electric vehicles
Analysts at Stifel say they see enough evidence to suggest that Apple is internally working on the development of a battery electric vehicle to be sold over the next five-to-ten years. The analysts are "intrigued" by Apple CFO Luca Maestri's background at General Motors (GM). They believe Apple's investments in manufacturing should be a key consideration for investors and point out the $40B spent by the iPhone maker over the past five years, with 80%-plus invested in manufacturing, is similar to GM, Ford (F) and Daimler-Benz and well above Tesla's $1.8B cumulative capex. The analysts say there is a "lot to think about" regarding Apple's move into the car space, including the regulatory environment. They keep a Buy rating on the tech giant with a $150 price target. Shares of Apple closed yesterday down 97c to $127.50.
06:09 EDTFBFacebook seeking advertising revenue in Brazil's poorest communities, WSJ says
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06:04 EDTAAPL, MSFTGlobal smartphone shipments to reach 1.4B units in 2015, DigiTimes Research says
Global smartphone shipments in 2015 is expected to increase 16.4% to reach 1.40B units, reports DigiTimes Research. The shipment growth is due to higher growth in demand in emerging markets including India, Southeast Asia and Latin America. Android (GOOG) will account for 78.5% of 2015 global smartphone shipments, Apple's (AAPL) iOS 16.6%, Microsoft (MSFT) Windows 4% and BlackBerry (BBRY) 0.6%.Reference Link
05:57 EDTBACBank of America faces pressure to defend structure, Financial Times reports
Bank of America will have to defend its current structure at its annual meeting in May after the SEC allowed a small shareholder the right to challenge the board on a break-up, reports the Financial Times. Bank of America's board could be under pressure to appoint a committee to examine a plan for divesting all non-core banking businesses if a proposal from Barlett Naylor of Public Citizen is adopted. Reference Link
05:57 EDTFBFacebook's David Recordon as director of White House IT
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March 19, 2015
16:26 EDTAAPLOn The Fly: Closing Wrap
Stocks on Wall Street opened lower but turned mixed early in the day and remained that way for most of the session. The Dow and S&P spent most of the day deep in negative territory, while the Nasdaq managed to stay just above the flat line. Investors had a chance to digest yesterday’s comments from the Fed and may have re-considered whether it latest policy stance was as dovish as originally believed. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average after the close last night, replacing AT&T (T). Shares of Apple finished their first day in the blue chip index down 97c, or 0.76%, at $127.50, while AT&T fell 39c, or 1.16%, to $33.20... Coffee giant Starbucks (SBUX) rose $1.92, or 2%, to close at $97.76 after hitting a new all-time high of $99.20 earlier. The move follows the company's investor day meeting yesterday, where it unveiled plans for two pilots of delivery services, reported a partnership to expand the distribution of its ready-to-drink products in China, and announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992. Goldman Sachs and Wells Fargo were both unphased by the record highs and predicted the rally is not over for Starbucks in upbeat notes on the stock today. MAJOR MOVERS: Among the notable gainers was Amicus Therapeutics (FOLD), which rose $3.11, or 33.26%, to $12.46 after reporting positive results in meetings with the EMA and FDA. Also higher was Wynn Resorts (WYNN), which gained $7.19, or 5.85%, to $130.11 after research firm Brean Capital last night initiated coverage of the stock and several casino peers with Buy ratings. Among the noteworthy losers was Transocean (RIG), which fell $1.09, or 7.15%, to $14.16 after saying that it intends to scrap four rigs and noting that with those it has announced plans to scrap a total of 16 floaters. Also lower after its earnings report was diversified apparel company Vince Holding (VNCE), which fell $3.50, or 16.36%, to $17.89. INDEXES: The Dow fell 117.16, or 0.65%, to 17,959.03, the Nasdaq gained 9.55, or 0.19%, to 4,992.38, and the S&P 500 declined 10.23, or 0.49%, to 2,089.27.
16:01 EDTAAPL, FBOptions Update; March 19, 2015
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13:46 EDTAAPLEarnings Preview: Nike sees Q3 constant dollar revenue growth in low teens
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13:00 EDTAAPLOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with Nasdaq slightly higher and the Dow and S&P 500 both down a bit more than 0.5%. The day’s economic reports were generally benign and are likely less significant to the trading action than participants having had some time to digest yesterday’s Fed comments. Immediately after the Fed's policy statement yesterday, the U.S. dollar fell as low as 1.10 against the euro, but that move was almost entirely reversed overnight. The dollar was back near pre-Fed levels against the euro early this morning, and similar moves were seen in pairs of the dollar and other major currencies. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. In Europe, the Swiss National Bank left rates unchanged, cut its growth forecasts for the country's economy, said that it will intervene in currency markets as needed since it believes the Swiss Franc remains overvalued. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average today, replacing AT&T (T). Shares of the iPhone maker were down 0.5% near midday, while AT&T stock fell a bit more than 1%... Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $98.50 earlier this afternoon following the company's investor day meeting yesterday. In conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. MAJOR MOVERS: Among the notable gainers was Coronado Biosciences (CNDO), which gained 42% after announcing the formation of a new company, Mustang Therapeutics, focused on Chimeric Antigen Receptor, or CAR-T, technology. The company also announced a licensing agreement with NeuPharma for EGFR inhibitors. Also higher was Guess (GES), which gained 15% after reporting higher than expected profits for its fiscal fourth quarter. Among the noteworthy losers was Transocean (RIG), which fell 6% after having announced last night that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI (E) for the Transocean Amirante was terminated. Transocean also said it intends to scrap four rigs, noting that with those it has announced plans to scrap a total of 16 floaters. Also lower following its earnings report was diversified apparel company Vince Holding (VNCE), which fell 16%. INDEXES: Near midday, the Dow was down 128.51, or 0.71%, to 17,947.68, the Nasdaq was up 3.15, or 0.06%, to 4,985.98, and the S&P 500 was down 13.36, or 0.64%, to 2,086.14.
12:06 EDTMSFTMicrosoft, Fuji Xerox announce patent agreement
Fuji Xerox and Microsoft (MSFT) announced a broad patent cross-licensing agreement. Building on a 2007 cross-licensing pact, the agreement ensures that Microsoft and Fuji Xerox continue to benefit from access to each other’s patent portfolios and accelerate research and development, the companies said. Fuji Xerox is a 75-25 joint venture between FUJIFILM (FUJIY) and Xerox Corporation (XRX).
11:53 EDTBACU.S. banks face headwinds in unloading oil loans, WSJ says
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11:18 EDTAAPLeBay cut to sell by noted analyst on mounting PayPal competition
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11:07 EDTFBFacebook volatility at low end of historic range; shares at fresh life high
Facebook March weekly call option implied volatility is at 25, April is at 23, May is at 30; compared to its 26-week average of 32 according to Track Data, suggesting decreasing price movement as shares trade at fresh life high.
11:02 EDTFBFacebook hits fresh life, levels to watch
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09:37 EDTFB, AAPLActive equity options trading on open
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09:05 EDTAAPLApple up fractionally in pre-market trade ahead of Dow entry
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08:14 EDTAAPLWorst case scenario unlikely for Ericsson in Apple lawsuit, says Bernstein
Noting that Apple (AAPL) and Ericsson (ERIC) are involved in patent litigation in which Apple has asked the court to limit Apple's royalty payments to Ericsson to the smallest saleable component containing Ericsson's technology, Bernstein says that Ericsson's IP revenue would be reduced to almost nothing if the court grants Apple's request. However, the firm does not believe that Apple's request has a good legal rationale, and it thinks that the court is "extremely unlikely" to grant it. As a result, the firm is "relaxed" about Ericsson's outlook. It keeps an Outperform rating on the shares.
07:12 EDTAAPLIpsos poll claims 39% of iPhone owners interested in Apple Watch, Reuters says
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06:55 EDTFBCertain news agencies form advertising alliance to rival Google, others, BI says
The Guardian, CNN International, The Financial Times , Reuters (TRI) and The Economist are forming an advertising alliance, called Pangaea, in hopes of rivaling Google (GOOG), Facebook (FB), Twitter (TWTR), and LinkedIn (LNKD), reports Business Insider UK. The Financial Times is owned by Pearson (PSO), The Economist Group is 50% owned by Pearson via The Financial Times, and CNN is owned by Time Warner (TWX). Reference Link
06:30 EDTBACSEC says BofA must put investment bank spinoff to shareholder vote, Reuters says
The SEC has told Bank of America that it must allow shareholders to vote on whether the company will attempt to spin off its investment bank unit, reports Reuters, citing a decision by the Securities and Exchange Commission. A bank spokesperson said the company "will respond to the proposal in our proxy statement." Reference Link
05:50 EDTMSFTMicrosoft, BlackBerry raises cooperation for software products, DigiTimes says
Microsoft and Blackberry have been increasing their cooperation with other companies to promote sales of software platforms and related services, reports DigiTimes. According to industry sources, the new eefforts come after their global smartphone market edge dropped 2.8% and 0.6%, respectively. Reference Link
05:42 EDTAAPL, FBeBay downgraded to Underweight from Neutral at Piper Jaffray
Piper Jaffray analyst Gene Munster downgraded eBay (EBAY) to Underweight, the firm's sell-equivalent rating, saying competition from Google Wallet (GOOG), Apple Pay (AAPL), Facebook (FB) and Samsung will weigh on PayPal's valuation and market share over the next three years. Munster notes shares of eBay are up 12% since the beginning of February due to optimism around the PayPal spin-out. He cut his price target for shares to $49 from $55. The online marketplace and PayPal owner closed yesterday down $1.07 to $58.42.
March 18, 2015
16:00 EDTFB, AAPLOptions Update; March 18, 2015
iPath S&P 500 VIX Short-Term Futures down 1.20 to 26.10. Option volume leaders: AAPL RAD PBR TWTR FB TSLA CLF BP MGM according to Track Data.
11:24 EDTFBeBay falls after Facebook adds friend-to friend payment option
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10:01 EDTMSFTPolycom and Microsoft announces new series of video collaboration solutions
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09:36 EDTFB, AAPLActive equity options trading on open
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09:03 EDTMSFTMicrosoft price target lowered to $46 on rising headwinds at Morgan Stanley
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08:17 EDTAAPLUnique value of Apple streaming TV may be ease of use, says Bernstein
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07:54 EDTAAPLComcast may be forced to put content on Apple TV, NY Post says
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07:27 EDTAAPLApple iPhone growth to decelerate further in Q3, says Jefferies
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07:24 EDTAAPLApple iPhone growth should support earnings expectations, says UBS
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07:10 EDTBACPlatts to hold a forum
11th Annual Steel Markets North America is being held in Chicago on March 17-18.
07:03 EDTMSFTSonus transitions enterprises to Microsoft Skype for business
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06:31 EDTAAPLDiscovery, Viacom in talks to be on Apple TV service, WSJ reports
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05:55 EDTAAPLApple has small team working on augmented reality, says Piper Jaffray
Piper Jaffray analyst Gene Munster says that following talks with industry contacts, he believes Apple (AAPL) has a small team working and exploring the augmented reality space. Munster believes augmented reality has the potential to "be as profound a technology platform as the smartphone today," but admits broader consumer adoption is likely 10 years away. He views Apple's involvement in the space as an indication the company is preparing for the next evolution of computing. Munster has an Overweight rating on Apple with a $160 price target. He describes augmented reality as the "overlay of digital information on the physical world," with Google (GOOG) Glass given as an example.
05:52 EDTAAPL12-inch MacBook to make up 15%-20% of all MacBook shipments, DigiTimes says
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05:52 EDTAAPLReport: iPhone 6 shipments expected to reach 53M, DigiTimes reports
Apple is expected to ship 53M iPhone 6 devices in Q1, reports DigiTimes, citing a Chinese-language Commercial Times report. Citing data from Morgan Stanley, the guidance is up from the previously expected 51M shipments. All iPhone devices will reach 54.5M units during the quarter. Reference Link
05:23 EDTMSFTQihoo 360 announces partnership with Microsoft
Qihu 360 (QIHU) announced a partnership with Microsoft (MSFT) to bring Windows 10, for free, to its customers in China through seamless upgrades. Qihu 360 will enable the Windows 10 upgrade with just a few clicks for their customers with accelerated download speeds. As a result, millions of Qihu 360 users will be able to upgrade to Windows 10 quickly and easily.
05:22 EDTMSFTMicrosoft announces strategic partnership with Tencent
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05:21 EDTMSFTMicrosoft announces Windows 10 to launch this Summer in 190 countries
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March 17, 2015
16:26 EDTAAPLOn The Fly: Closing Wrap
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16:00 EDTAAPLOptions Update; March 17, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 27.30. Option volume leaders: AAPL RIG MGM HTZ TWTR TSLA CY KO NFLX C according to Track Data.
15:45 EDTFBWestern Union, MoneyGram near lows after Facebook reports money transfer plans
Shares of money transfer and payment services companies MoneyGram International (MGI) and Western Union (WU) are both in negative ground and near their session lows after Facebook (FB) announced this afternoon that it is adding a new feature in Messenger that gives people a "more convenient and secure way" to send or receive money between friends.
15:07 EDTFBFacebook adding 'send money' feature in Messenger
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14:13 EDTAAPLMorgan Stanley questions GM capital allocation plan
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13:06 EDTAAPLBattleground: Analysts take opposite sides on Netflix
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12:46 EDTAAPLNBC planning for cable-dependent Apple TV app for 2H15, 9to5Mac reports
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12:38 EDTAAPLOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, with the Dow falling about 1%. The market opened in negative territory and proceeded to gain additional downside momentum in early trading. Data on housing starts was not good, even accounting for bad weather in many areas of the country, and the prospect of interest rate increases on the horizon may have some fearing that the housing market recovery is in danger of stalling. Adding to the weakness in stocks may have been the further slide in crude oil prices, which pushed benchmark U.S. crude oil below $43 per barrel earlier in the session. ECONOMIC EVENTS: In the U.S., housing starts plunged 17% to an 897K rate in February, widely undershooting expectations for starts to be down 2.4% to a 1.04M rate, but much of the slide was attributed to weather. Building permits rose 3% to a rate of 1.092M, which was better than the expected 0.5% growth to a 1.065M rate. In Europe, Germany's ZEW Center investor confidence index climbed to 54.8 from 53 last month, though that fell short of the 59.4 consensus forecast. In Asia, the Shanghai Composite index rose 1.6% to close at its highest level in over 6 years. COMPANY NEWS: Apple (AAPL) is preparing to launch an online TV service later this year, according to reports from The Wall Street Journal and the Financial Times. After the reports, Piper Jaffray analyst Gene Munster said he believes Apple's online TV service launch would lay the groundwork for an actual television launch sometime in 2016. Munster estimates that at an average selling price of $1,750, a television could add about 7% to Apple's 2017 revenue. MAJOR MOVERS: Among the notable gainers was Black Diamond (BDE), which jumped 30% after the company reported was then expected quarterly results and guidance but also announced it has hired two banks to help it explore its strategic alternatives. Also higher was Esperion (ESPR), which rose 15% after the company's phase 2b study of ETC-1002, a product in development for patients with hypercholesterolemia on stable statin therapy, met its primary endpoints. Among the noteworthy losers was Himax (HIMX), which dropped 9% after BofA Merrill Lynch downgraded the stock two notches to Underperform from Buy. Also lower following its earnings report was magicJack (CALL), which fell 19%. INDEXES: Near midday, the Dow was down 152.00, or 0.85%, to 17,825.42, the Nasdaq was down 8.39, or 0.17%, to 4,921.12, and the S&P 500 was down 11.39, or 0.55%, to 2,069.80.
11:36 EDTAAPLApple may launch standalone TV in 2016, says Piper Jaffray
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11:36 EDTMSFTGoPro Channel app tops 1M downloads on Xbox platform
GoPro (GPRO) announced that The GoPro Channel app has been downloaded over 1M times on the Xbox video game and entertainment system from Microsoft (MSFT). Additionally, users are watching an average of 25 minutes of GoPro videos during each viewing session. The GoPro Channel allows Xbox members worldwide to stream GoPro content on-demand, share favorite videos, and purchase cameras and accessories directly through the console.
11:23 EDTAAPLApple willing to share TV data to attract programming partners, NY Post reports
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10:00 EDTFBOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Aimco (AIV) initiated with an Outperform at RW Baird... Alnylam (ALNY) initiated with a Buy at Janney Capital... American Campus (ACC) initiated with a Neutral at RW Baird... AvalonBay (AVB) initiated with a Neutral at RW Baird... BE Aerospace (BEAV) initiated with a Buy at CRT Capital... BlackRock (BLK) initiated with a Buy at Argus... Camden Property (CPT) initiated with an Outperform at RW Baird... CarMax (KMX) initiated with a Buy at Evercore ISI... Central Pacific (CPF) initiated with a Neutral at Macquarie... Cognex (CGNX) initiated with a Buy at Northcoast... Education Realty (EDR) initiated with a Neutral at RW Baird... EnerSys (ENS) initiated with an Overweight at Stephens... Equity Lifestyle (ELS) initiated with an Outperform at RW Baird... Equity Residential (EQR) initiated with a Neutral at RW Baird... Essex Property Trust (ESS) initiated with a Neutral at RW Baird... Facebook (FB) initiated with a Buy at Brean Capital... Intercept (ICPT) initiated with a Hold at MLV & Co.... Isis Pharmaceuticals (ISIS) initiated with a Neutral at Janney Capital... LinkedIn (LNKD) initiated with a Sell at Brean Capital... Mid-America Apartment (MAA) initiated with an Outperform at RW Baird... NetSuite (N) initiated with a Hold at Brean Capital... Paycom (PAYC) initiated with a Buy at Brean Capital... Platform Specialty Products (PAH) initiated with a Buy at UBS... Post Properties (PPS) initiated with a Neutral at RW Baird... Salesforce.com (CRM) initiated with a Hold at Brean Capital... ServiceNow (NOW) initiated with a Buy at Brean Capital... Snap-On (SNA) initiated with a Buy at Northcoast... Sun Communities (SUI) initiated with a Neutral at RW Baird... Twitter (TWTR) initiated with a Buy at Brean Capital... UDR, Inc. (UDR) initiated with an Outperform at RW Baird... Workday (WDAY) initiated with a Hold at Brean Capital... Xplore Technologies (XPLR) initiated with a Buy at Roth Capital... Yahoo (YHOO) initiated with a Hold at Argus.
09:39 EDTAAPLApple will ship 59M iPhones in CQ1, above consensus, says ITG Research
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09:34 EDTFB, AAPLActive equity options trading on open
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09:27 EDTAAPLApple plans to allow trade-ins of Android, BlackBerry devices, Bloomberg says
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09:26 EDTFBFacebook launches expat targeting feature
To help businesses reach people living abroad, Facebook earlier today announced a new targeting feature that enables advertisers to reach the 92M expats on Facebook, the company announced today. Marketers can now connect with expats living within a given country (like expats living in Brazil) and expats originating from a specific country (like people born in Brazil living abroad), Facebook explained. Reference Link
09:15 EDTAAPLApple streaming service may pave way for bigger ambitions, says Cantor
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09:13 EDTMSFTMSFT announced several partnerships with industry leaders
At Microsoft Convergence 2015, Microsoft (MSFT) announced several new partnerships with industry leaders. Teaming up with Microsoft, Ford Motor (F) will expand connected services for customers around the world with the creation of the Ford Service Delivery Network. Microsoft also announced several partnerships and collaboration agreements with leading companies in sales, field service, digital transaction management and analytics markets. Microsoft and InsideSales.com will offer its complete sales acceleration platform. Microsoft and FieldOne Systems announced their agreement to bring the FieldOne Sky field service management solution into the Microsoft Dynamics global independent software vendor program. DocuSign and Microsoft announced that the two companies will bring DocuSign's Digital Transaction Management platform to Microsoft Dynamics CRM users. Microsoft also announced the acquisition of intellectual property from Fusion Software which will add Voice of the Customer capabilities to Microsoft Dynamics.
09:07 EDTAAPL, MSFTDISH's Sling TV launches on Xbox One
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09:05 EDTMSFTMicrosoft exec confirms plans to drop IE brand for new browser, The Verge says
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09:05 EDTMSFT, AAPLMicrosoft Band now available at Best Buy, Target, Amazon, Re/code reports
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09:03 EDTMSFTElectronic Arts, Visceral Games announce availability of Battlefield Hardline
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08:34 EDTBACBank of America reinstated with an Outperform at Raymond James
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07:42 EDTAAPL, FBBoeing may produce satellite for tech giants, Reuters says
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07:28 EDTAAPLApple TV may provide boost for advertising unit, Business Insider says
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07:12 EDTMSFTDeutsche Messe to hold a conference
CeBIT 2015 is being held in Hannover, Germany on March 15-20.
06:50 EDTAAPLBanks unhappy with high Apple Pay fraud rates, NY Times says
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06:37 EDTAAPLAfter losing marketshare, Google now asks Firefox users to switch, BI says
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05:57 EDTAAPLChina vendors to ship 50M Androids with fingerprint sensors, DigiTimes reports
China vendors is expected to ship 50M Android (GOOG) smartphones with fingerprint sensors in 2015, reports DigiTimes. According to sources at Taiwan-based IC backend service companies, Android smartphone vendors have adopted sliding-type fingerprint sensors, which are more competitive in pricing compared to press-type sensors used by Apple (AAPL). Reference Link
05:46 EDTAAPLApple set to launch online TV service this year, Financial Times reports
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March 16, 2015
16:14 EDTFBFacebook initiated with a Buy at Brean Capital
Brean Murray initiated Facebook with a Buy rating and $96 price target based on expectations of continued growth through pricing leverage, continued expansion, and monetization of acquired platforms including Instagram and WhatsApp.
16:00 EDTFB, AAPLOptions Update; March 16, 2015
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15:24 EDTAAPLCablevision to provide HBO NOW via Optimum Online
Cablevision (CVC) and Time Warner's (TWX) Home Box Office announced that they have reached an agreement to offer standalone streaming service HBO NOW to Optimum Online customers via the internet. Optimum is the first cable provider to partner with HBO to offer the new service, which is expected to launch in April in time for the fifth season of Game of Thrones, the companies said. Cablevision plans to provide pricing and other particulars for HBO NOW in the coming weeks. Terms of the agreement were not disclosed. Apple (AAPL) and Time Warner announced on March 9 that HBO NOW will premier on Apple devices in April.
14:13 EDTAAPLApple to offer Android users rebates to switch to iPhones, 9to5Mac says
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10:44 EDTAAPLNetflix retreats after cut to sell on competition, cost concerns
The shares of Netflix (NFLX) are falling after research firm Evercore ISI downgraded the stock to Sell from Hold. Increased competition will force the company to increase its investments and the return from those investments is uncertain, the firm contends. WHAT'S NEW: In the U.S., technological advancements are enabling content providers to sell their programming to a wider range of Internet video distributors, Evercore ISI analyst Ken Sena wrote in a note to investors earlier today. Moreover, content providers themselves are now able to stream more of their programming online and obtain higher profits from doing so, Sena reported. The analyst noted that Apple (AAPL) recently obtained a three month exclusive deal to stream content form Time Warner's (TWX) HBO Now, while Yahoo (YHOO), Amazon (AMZN), and Hulu (DIS, CMCSA, NWSA) are all reportedly interested in obtaining streaming rights to "Seinfeld." Netflix's international expansion will not be sufficient to offset the increased competition, especially because foreign viewers are likely to watch less TV and be less interested in paying for TV content, the analyst believes. Furthermore, Netflix will face more competition from other Internet TV services overseas than in the U.S., according to Sena, who cut his 2015 consolidated operating income estimate for the company by 26% to $381M from $517M previously. In addition to cutting his rating, Sena lowered his price target on the shares to $380 from $450. PRICE ACTION: In early trading, Netflix sank $16, or 3.7%, to $422.
10:22 EDTBACBank of America February default rate 2.98% vs. 2.93% last month
Reports February delinquency rate 1.86% vs. 1.83% last month.
09:37 EDTAAPL, FBActive equity options trading on open
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09:26 EDTFBFacebook to update rules on prohibited content, NY Times says
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09:03 EDTMSFTMicrosoft price target lowered to $49 from $52 at UBS
UBS lowered its price target on Microsoft to $49 from $52 citing lower PC demand and foreign exchange headwinds. UBS reiterated its Buy rating on Microsoft shares.
08:55 EDTFBFacebook purchase of Instagram proving to be a steal, says BofA/Merrill
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07:32 EDTMSFTUBM Tech to hold a conference
Enterprise Connect 2015 is being held in Orlando, Florida on March 16-19.
06:11 EDTFBFacebook implied volatility of 25 at lower end of index mean range
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