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Stock Market & Financial Investment News

News Breaks
July 9, 2014
07:25 EDTVMW, CTXS, RHTVMware downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded VMware (VMW) to Market Perform saying it will be difficult for the company to sustain mid-teens growth in FY15. Wells expects growth in VMware's virtualization business to slow and lowered its price target range for shares to $98-$105 from $107-$117. The firm prefers Citrix (CTXS) and Red Hat (RHT) to VMware.
News For VMW;CTXS;RHT From The Last 14 Days
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July 21, 2014
16:22 EDTVMWOn The Fly: Closing Wrap
Stocks on Wall Street began the trading day in negative territory and remained there through nearly the whole session. The market action was influenced more by the geopolitical events in Russia and Israel than by the upcoming avalanche of earnings scheduled for release throughout the week. Despite the weak open and subsequent drop during the first hour of trading, the market drifted off its lows and managed to pare its losses, even turning mixed for a short time. The averages dipped again heading into the bell, though they closed well of their worst levels. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity Index dipped to 0.12 in June from a reading of 0.16 in May. COMPANY NEWS: Allergan (AGN) rose $3.74, or 2.23%, to $171.14 after the company's Q2 results and its FY14 outlook beat expectations. The company, which is working to fend off a proposed acquisition by Valeant Pharmaceuticals (VRX), also announced plans to cut its workforce by 13%, or about 1,500 employees, as part of a broader restructuring effort. In related news, Valeant announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business." Later in the day, Bill Ackman of Pershing Square, who is partnering with Valeant in its attempt to buy Allergan, called the restructuring a "Valeant light" effort and said Valeant does not need to raise its bid for Allergan. Ackman explained that he believes that shares of Valeant will rise around $10 should the Allergan board engage in takeover talks with the company and that a $10 share rise would boost Valeant's bid for Allergan by $8 per share. MAJOR MOVERS: Among the notable gainers was Extreme Networks (EXTR), which rose 69c, or 15.79%, to $5.06 after the company raised its Q4 earnings per share outlook and narrowed its Q4 revenue view. Also higher were shares of EMC (EMC), which advanced $1.35, or 5.0%, to $28.33 after the Wall Street Journal reported, citing sources, that activist investor Elliott Management has taken a stake of over $1B in the data-storage company and plans to push it to break itself up and spin off VMware (VMW), which is 80% owned by EMC. Shares of VMware fell $2.36, or 2.48%, to $92.95 following the Journal's report. Among the other noteworthy losers was Monster Beverage (MNST), which fell $3.07, or 4.53%, to $64.74 after Morgan Stanley downgraded the stock, citing slowing U.S. trends and balanced valuation. Also lower were shares of Yum! Brands (YUM), which fell $3.29, or 4.25%, to $74.13 after Associated Press reported that the company's KFC brand and McDonald's (MCD) were sold expired beef and chicken in China from food supplier Husi Food. Shares of McDonald's, which is scheduled to report on its quarter before tomorrow's market open, slid $1.44, or 1.45%, to $97.55. INDEXES: The Dow fell 48.45, or 0.28%, to 17,051.73, the Nasdaq dropped 7.44, or 0.17%, to 4,424.70, and the S&P 500 declined 4.59, or 0.23%, to 1,973.63.
12:10 EDTVMWOn The Fly: Midday Wrap
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07:15 EDTRHTO'Reilly to hold a conference
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06:27 EDTVMWElliott Management to push EMC to break up, WSJ reports
Elliott Management has taken a stake of over $1B in EMC (EMC), according to sources, and plans to push the data-storage company to break itself up, the Wall Street Journal reports. Elliott reportedly believes EMC's stock would get a boost from spinning off VMware (VMW), of which it owns an 80% stake. Reference Link
July 18, 2014
16:11 EDTCTXSCitrix Chief Marketing Officer Steve A. Daheb to leave company
In connection with a reorganization, Steve A. Daheb, Senior Vice President and Chief Marketing Officer of Citrix Systems has decided to leave Citrix. As a result of the reorganization, Citrix has eliminated the role of Chief Marketing Officer. Daheb has agreed to remain as an employee of Citrix to provide transitional advisory services to the company through February 2, 2015. As a result of the reorganization, Daheb ceased to serve as an executive officer of Citrix effective July 14.
July 16, 2014
07:24 EDTCTXSSiemer & Associates to hold a summit
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July 15, 2014
08:53 EDTVMWVMware announces partnerships with China Telecom, Softbank
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July 14, 2014
10:59 EDTCTXSElliot reaffirms $21 Riverbed bid following Q2 warning
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July 11, 2014
08:12 EDTVMWVMware shares should be bought ahead of results, says Pacific Crest
After conducting checks, Pacific Crest believes that the performance of the company's stand-alone vSphere seems solid, while it is gaining traction in suites and end-user computing. The firm identifies VMware as its top pick heading into Q2 results.
July 10, 2014
09:35 EDTRHTRed Hat, Google collaborate on open standard for Docker containers at scale
Red Hat (RHT) and Google (GOOG) are collaborating to drive a new open standard around orchestrating Docker containers, a standard for application packaging in containerized environments, at scale for the management of cloud application deployments, Red Hat announced in a post to its corporate website. Reference Link
July 9, 2014
11:00 EDTRHT, CTXS, VMWWells says VMware growth could slow, downgrades shares
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10:02 EDTVMWOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Advanced Energy (AEIS) downgraded to Neutral from Buy at Dougherty... Apollo Global (APO) downgraded to Neutral from Buy at Citigroup... Artisan Partners (APAM) downgraded to Neutral from Buy at Citigroup... Autoliv (ALV) downgraded to Hold from Buy at Nordea... BNP Paribas (BNPQY) downgraded to Neutral from Overweight at JPMorgan... BP (BP) downgraded to Hold from Buy at Deutsche Bank... Carlyle Group (CG) downgraded to Neutral from Buy at Citigroup... Coach (COH) downgraded at Buckingham... Cummins (CMI) downgraded to Buy from Conviction Buy at Goldman... Garmin (GRMN) downgraded to Underperform from Sector Perform at Pacific Crest... Gigamon (GIMO) downgraded to Buy from Strong Buy at Needham... International Paper (IP) downgraded at RBC Capital... Louisiana-Pacific (LPX) downgraded at RBC Capital... Marvell (MRVL) downgraded to Underperform from Perform at Oppenheimer... McGraw Hill Financial (MHFI) downgraded to Market Perform at Raymond James... Moody's (MCO) downgraded to Market Perform from Outperform at Raymond James... Plum Creek Timber (PCL) downgraded at RBC Capital... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... RGS Energy (RGSE) downgraded at Cowen... Taminco (TAM) downgraded to Neutral from Buy at Citigroup... Total (TOT) downgraded to Hold from Buy at Societe Generale... Unilever (UN) downgraded to Reduce from Neutral at Nomura... VMware (VMW) downgraded to Market Perform from Outperform at Wells Fargo... Vectren (VVC) downgraded to Hold from Buy at KeyBanc.
08:31 EDTVMWVMware CEO sees EMC helping it remain independent, WSJ reports
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07:25 EDTVMW, RHT, CTXSVMware downgraded to Market Perform from Outperform at Wells Fargo
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