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Stock Market & Financial Investment News

News For VZ;INTC;GOOG;QCOM;CSCO;FIRE;BRCD;VMW;RHT From The Last 14 Days
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August 4, 2015
17:17 EDTRHTChannelAdvisor appoints Mark Cook CFO effective September 1
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16:00 EDTINTCOptions Update; August 4, 2015
iPath S&P 500 VIX Short-Term Futures up 5c to 15.83 Option volume leaders: AAPL FB BAC NFLX TWTR DIS WFC INTC AAL XOM SUNE
12:27 EDTGOOGGoogle, AT&T join suit against Apple for wire-tapping, Business Insider reports
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10:01 EDTCSCOOn The Fly: Analyst Initiation Summary
Arista Networks (ANET) initiated with a Neutral at Macquarie... Autodesk (ADSK) initiated with an Outperform at William Blair... Equifax (EFX) initiated with an Outperform at RBC Capital... FirstMerit (FMER) initiated with an Overweight at Stephens... G-III Apparel (GIII) initiated with a Hold at Brean Capital... Healthstream (HSTM) initiated with a Market Perform at Raymond James... LinkedIn (LNKD) initiated with a Buy at Topeka... Lumentum (LITE) initiated with a Buy at Needham... Macquarie starts Cisco (CSCO) with Underperform, says Street estimates too high... Milacron (MCRN) initiated with a Buy at BofA/Merrill... Natera (NTRA) initiated with an Outperform at Baird... Netflix (NFLX) initiated with a Buy at Guggenheim... Old National Bancorp (ONB) initiated with an Overweight at Stephens... Talmer Bancorp (TLMR) initiated with an Equal Weight at Stephens... TransUnion (TRU) initiated with a Buy at Deutsche Bank... Twitter (TWTR) initiated with a Hold at Topeka... VF Corp. (VFC) initiated with a Buy at Canaccord... Viavi (VIAV) initiated with a Hold at Needham.
09:03 EDTINTCIntel to invest $5M over 5 years to deepen partnership with Georgia Tech
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07:30 EDTINTCNational Instruments to hold a user conference
NI Week 2015 is being held in Austin, Texas on August 3-6 where the webcasted keynote presentation is being held on August 4 at 12 pm. Webcast Link
06:54 EDTCSCOMacquarie starts Cisco with Underperform, says Street estimates too high
Macquarie initiated Cisco with an Underperform rating and $26 price target. The firm is not making a call on the upcoming quarter, but on longer-term trends. Macquarie believes forward consensus estimates are too optimistic and expects the enterprise switching market to contract due to a combination of denser compute, migration of enterprise server workload to hyperscale/cloud, and adoption of wireless/mobility which will reduce switch port demand. The firm also has concerns Service provider market headwinds could increase, emerging markets will remain tepid, and the Intercloud strategy will not have a significant impact near-term, all of which will lead to flat earnings growth in 2016.
06:19 EDTGOOGNew Apple, Google software to deliver info before users ask, WSJ reports
Apple (AAPL) and Google (GOOG) are adding features to deliver information in anticipation of users asking for it, the Wall Street Journal reports. Apple's Proactive Assistant, a feature that will be included in its iOS 9 software, intends to learn how a user will behave based on information stored on an iPhone, the report says. On the other hand, Google's Now service will collect data from a universe of online services and searches, the report adds. Reference Link
06:04 EDTGOOGStocks with implied volatility below IV index mean; TEVA GOOG
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August 3, 2015
14:00 EDTVMW, BRCDVMware rises after Re/code makes case for EMC buyout
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13:08 EDTBRCD, VMWEMC may prefer buying rest of VMware, Re/code reports
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13:01 EDTVMWEMC may be close to buying out VMware, Re/code says
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06:01 EDTGOOGStocks with implied volatility below IV index mean; TEVA GOOG
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August 2, 2015
14:50 EDTVZVerizon continues negotiations with 37,000 wireline employees
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July 31, 2015
16:51 EDTVZVerizon says little progress in contract talks with East landline employees
Verizon said, "After nearly seven weeks of challenging negotiations, Verizon is preparing for all potential scenarios following the expiration of its contracts with the CWA and IBEW, covering more than 37,000 Wireline employees in the Northeast and Mid-Atlantic regions. The contracts expire at midnight, Aug. 1, 2015.While the company presented union leaders with a comprehensive initial offer on June 22 that included a solid wage increase, union leaders countered with a series of proposals that did virtually nothing to advance the progress of negotiations." "Employees are eligible to receive up to five weeks of paid vacation time, not including paid sick days and paid excused days," said Marc Reed, Verizon's chief administrative officer. "While we're willing to consider all offers, union leaders came back with counterproposals that would offer up to 19 additional days off, including new holidays, employee birthdays, more vacation days and additional sick days. That sort of proposal is unrealistic and out-of-touch in today's marketplace."
16:22 EDTINTCStocks end week higher in U.S. despite selloff in China
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10:36 EDTQCOMParkerVision says appeals court affirms district court noinfringement decision
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09:54 EDTQCOMParkerVision loses appeal of Qualcomm patent ruling
Shares of ParkerVision (PRKR) plunged 50% before being halted for trading after an appeals court affirmed a lower court ruling in the company's patent infringement suit with Qualcomm (QCOM). At trial, ParkerVision accused 19 Qualcomm products of infringing its asserted claims. The district court found that the accused products did not practice the limitation that recites “generating a lower frequency signal,” which is present in each asserted claim. The court held that ParkerVision’s infringement expert conceded that in the accused products the baseband signal was created before, or “upstream from,” the storage capacitor. That concession, the court concluded, was fatal to ParkerVision’s claim under the “generating” limitation. Second, the court concluded that Qualcomm’s “50% duty cycle” products did not practice the “sampling” limitation, which is found in claims 27, 82, 90, and 91 of the ’518 patent, and in claim 2 of the ’371 patent. In a new ruling, the U.S. Court of Appeals for the Federal Circuit agreed with the district court on both grounds.
09:31 EDTQCOMCourt rules Qualcomm did not infringe ParkerVision patents, Bloomberg reports
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08:06 EDTCSCOCisco should report strong July quarter results, says Oppenheimer
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06:53 EDTGOOGToyota signs pact with two companies for in-car navigation, Re/code says
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06:50 EDTVZComcast, Verizon differ over terms of wireless network deal, WSJ says
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06:45 EDTGOOGGoogle, Silent Circle partner to add Android for Work to Blackphone, WSJ says
Google is partnering with Silent Circle, a Geneva-based maker of privacy-centric phones, to add Google's Android for Work software onto Silent Circle's Blackphone, a phone with encrypts calls, texts, and data, the Wall Street Journal reports. Reference Link
05:58 EDTGOOGStocks with implied volatility below IV index mean; TEVA GOOG
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July 30, 2015
18:56 EDTGOOGFacebook plans drone test later this year, AP says
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15:19 EDTGOOGGoogle pitching new version of 'Glass' to businesses, WSJ reports
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14:34 EDTGOOGGoogle rejects global delisting request from French regulator
In a company blog post published Thursday, Google global privacy counsel Peter Fleischer said the tech giant respectfully disagrees with French regulator CNIL's recent delisting request. According to the blog, CNIL requested that Google apply French "right to be forgotten" requests -- whereby a citizen requests removal of search results containing his or her name -- to all versions of Google across the globe, rather than just French or European versions of the search engine. "We believe that no one country should have the authority to to control what content someone in a second country can access," said Fleischer. Reference Link
12:23 EDTGOOGGoogle loses patent royalty battle with Microsoft, Bloomberg reports
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12:20 EDTGOOGGoogle denies French request to apply 'right to be forgotten,' Reuters says
Google is denying a request from the French privacy watchdog to clean search results worldwide when users invoke their "right to be forgotten" online, Reuters reports. Reference Link
11:37 EDTGOOGFacebook price targets hiked while shares slide after earnings
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11:26 EDTGOOG, QCOMAppeals court affirms lower court judgment in Microsoft, Motorola patent suit
The 9th Circuit Appeals court affirmed the judgment of a district court in a patent lawsuit between Microsoft (MSFT) and Motorola, which is now owned by Google (GOOG). In its ruling, the appeals court wrote: "With the parties’ consent, the district court conducted a lengthy, thorough bench trial on the RAND rate and range. The court analyzed that evidence in its exhaustive findings of fact and conclusions of law, in a manner consistent with the Federal Circuit’s recent approach to establishing damages in the RAND context. The court’s factual findings were properly admitted at the jury trial. The jury’s verdict was supported by substantial evidence, and its damages award was proper." In a tweet after the ruling was released, Markman Advisors, which specializes in patent law, stated that Microsoft, Qualcomm (QCOM), InterDigital (IDCC) and others will be affected by this ruling, which it characterized as "tough for licensors of standard-essential patents."
08:24 EDTVMWEMC buy-in of VMware would be 16%-27% accretive, says Bernstein
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July 29, 2015
11:06 EDTVZSprint introduces Family Share Pack plan
With more data than T-Mobile (TMUS), and with significant savings over Verizon (VZ) and AT&T (T), Sprint (S) introduces the new Sprint Family Share Pack. Families switching to Sprint get four lines, unlimited talk, text and 10GB of high-speed data while on the Sprint network for $100/month starting July 31. Sprint says its new plan will save families $480/year over Verizon and $720/year over AT&T for virtually the same 10GB of data. Sprint says that 10GB is more than double the high-speed data in T-Mobile’s family plan.
10:36 EDTCSCO, INTCLockheed Martin launches healthcare technology alliance
Lockheed Martin (LMT) announced the formation of a new healthcare technology alliance, combining the expertise of health IT providers, medical technology companies, and academic institutions to advance public health. The Lockheed Martin Healthcare Technology Alliance's founding members include: Cisco (CSCO), Cloudera, Illumina (ILMN), Intel (INTC) and Montgomery College. The members of the Lockheed Martin Healthcare Technology Alliance will collaborate on technology solutions that help improve care in rapidly evolving and growing areas of health technology such as those that: secure patient medical information; leverage advances in genomic research; and apply big data solutions to improve public health.
07:39 EDTQCOMQualcomm and BRUSA sign EV charging license agreement
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06:30 EDTVZAOL: There are more TV ads now than ever, WSJ reports
AOL (AOL), currently owned by Verizon (VZ), said that there are more advertisements on television than ever, making it increasingly difficult for marketers to break through in an already cluttered arena, the Wall Street Journal reports. AOL said that the reported rate of TV ad impression growth is misleading, though TV networks are managing to push in more ads into half hour and hour long shows, the report says. Reference Link
06:29 EDTINTCIntel defines 6 desktop market segments for CPU platforms, DigiTimes reports
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06:23 EDTGOOGTwitter's VP of product management Christian Oestlien departs for YouTube
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July 28, 2015
16:53 EDTINTCOn The Fly: Top stock stories for Tuesday
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16:00 EDTINTCOptions Update; July 28, 2015
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15:25 EDTVZVerizon reaches deal with Time Warner to offer HBO NOW
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14:57 EDTINTCAnalyst skeptical after 'amateurish' Micron, Intel memory presentation
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13:57 EDTINTCMicron, Intel memory launch more diversion than revolution, says Summit Research
After Micron (MU) and Intel (INTC) introduced 3D XPoint memory technology, Summit Research analyst Srini Sundararajan said that at first glance the new product seems like an additive memory that will co-exist with DRAM and NAND. Sundararajan added that nothing about the "amateurish" presentation gives him confidence that Micron and Intel can catch Samsung (SSNLF) in terms of DRAM or 3D NAND.
12:43 EDTINTCIntel, Micron downplay concerns of 3D XPoint 'cannibalizing' NAND products
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12:31 EDTINTCIntel, Micron expect 3D XPoint cost to be 'somewhere between' NAND, DRAM
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12:08 EDTINTCIntel, Micron introduce 3D XPoint memory technology
Intel (INTC) and Micron Technology (MU) unveiled 3D XPoint technology, a non-volatile memory that the companies say has the potential to "revolutionize any device, application or service that benefits from fast access to large sets of data." Now in production, 3D XPoint technology brings non-volatile memory speeds up to 1,000 times faster than NAND, according to Intel and Micron. 3D XPoint technology will sample later this year with select customers, and Intel and Micron are developing individual products based on the technology, the companies said.
12:02 EDTINTCMicron, Intel to discuss technology similar to HP memristor, Hesseldahl says
Arik Hesseldahl of Re/code said on Twitter: "Intel and Micron are going to disclose technology similar to HP's memristor technology. It will be called: 3D XPoint" Reference Link
10:47 EDTVZ, GOOGUBS says YouTube paid service could be $1B business
Google's (GOOG, GOOGL) revenue could increase by about $1B or more if it decides to offer a paid, ad free version of its YouTube website in the U.S., UBS wrote in a note to investors today. The firm made the estimate based on a survey it conducted of U.S. consumers. WHAT'S NEW: YouTube remains well-positioned to benefit from the growth of online video, UBS analyst Eric Sheridan stated. After UBS conducted a survey of U.S. adult consumers, Sheridan reported that the survey found that 27% of U.S. consumers would probably subscribe to a paid, ad free version of YouTube. According to Bloomberg, YouTube has decided to launch such a service in coming months. If only 5% of U.S. YouTube users buy subscriptions to the service, Google's revenue would rise by about $943M, Sheridan estimated. Following the survey, the analyst is more confident that Google will meet his revenue estimates, which exceed consensus levels. Specifically, he predicted that Google's revenue for the second half of 2015 would come in at $32.4B, versus the consensus outlook of $31.8B, while its 2016 revenue would be $72.2B, compared with the consensus estimate of $69.7B. Sheridan kept a $750 price target and Buy rating on the stock. WHAT'S NOTABLE: Other companies that are significantly exposed to online video include Netflix (NFLX), Facebook (FB) and AOL, which has been acquired by Verizon (VZ). PRICE ACTION: In morning trading, Google Class A shares were little changed at $657.55.
09:20 EDTGOOGGoogle well positioned to benefit from online video shift, says UBS
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09:01 EDTVZVerizon and Swisscom extend partnership
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08:38 EDTINTCIntel and Micron to hold a joint press and analyst webcast
Micron and Intel Share Updates on Latest Storage and Memory Technologies in a webcast being held on July 28 at 12 pm. Reference Link
08:17 EDTVZUnum Group names Verizon CFO Fran Shammo to board of directors
Unum Group (UNM) announced that Francis J. Shammo, executive vice president and CFO of Verizon Communications (VZ), has been elected to serve as a director of the company.
07:59 EDTINTCKLA-Tencor downgraded to Sell from Neutral at Citi
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06:15 EDTGOOGVessel recruits former YouTube exec Kirkbride, Re/code reports
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06:14 EDTGOOGGoogle recently attempted to buy Impossible Foods, The Information reports
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06:06 EDTGOOGStocks with implied volatility below IV index mean; BIIB GOOG
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06:00 EDTGOOGGoogle Express workers file for representation by Teamsters union
Teamsters Local Union 853 announced yesterday that workers at Palo Alto-based Google Express Services filed for a representation election. The more than 140 warehouse and shipping workers sought out the Teamsters for help with improving working conditions, treatment on the job and compensation. Google Express Services, operated by Adecco, provides products shipped from local businesses to consumers on a same-day or overnight basis. Workers are required to sign short-term employment agreements with Adecco that limit them to two years before the company lets them go. Workers have also alleged subjection to constant harassment to work faster in poor conditions that includes damaged equipment, cracked floors and failing electrical systems that have resulted in fires.
July 27, 2015
20:01 EDTGOOGGoogle to decouple Google+ from YouTube, other services
Google will begin decoupling Google+ from other services such as YouTube within the coming months after previously requiring users to log in through the social network. "While we got certain things right, we made a few choices that, in hindsight, we’ve needed to rethink," said Bradley Horowitz, Google VP of streams, photos, and sharing. Reference Link
16:00 EDTINTCOptions Update; July 27, 2015
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14:34 EDTVZFrontier Communications, CWA reach agreement in California
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13:16 EDTGOOGADT rises after Citi downplays 'smart home' concerns
Shares of ADT (ADT) are heading higher in afternoon trading following an upgrade from Citi, within which the research firm said traditional home security firms have plenty of traction as self-installed, self-monitored security solutions from the likes of Apple (AAPL) and Google's (GOOG) Nest are slow to be adopted by homeowners. WHAT'S NEW: Citi's Jason Bazinet issued a research note on the home security sector, upgrading ADT to Buy from Neutral while slightly lowering his price target to $39 from $40. Bazinet notes that the sector is expanding into "smart home" technology powered by companies like Apple and Google's Nest. Despite this, the analyst contends that consumer data shows continued preference for the traditional approach in the form of professionally installed and professionally monitored services from ADT, Monitronics, Vivint, AT&T (T) and Comcast (CMCSA, CMCSK). WHAT'S NOTABLE: Though tech firms and venture capitalists seem drawn towards the concept of self-installed, self-monitored "smart homes," consumers appear to be sticking with the professionals, says Citi. Security systems using Apple HomeKit and Google's Nest products are seeing "limited" adoption, and firms like ADT -- equipped with call centers and installation specialists -- appear ready to "hold their own," with recent weakness in ADT shares called an "opportunity" by Bazinet. The analyst conceded that professional security providers will see their market share drop to 15% from a current 20%, but Bazinet set a 2035 date for that shift, leaving plenty of near-term opportunity for traditional players. PRICE ACTION: After a 25% drop since mid-April, shares of ADT are up about 1.4% to trade near $32 this afternoon.
12:43 EDTGOOGGoogle AdSense publishers to obtain EU end users' consent before accessing data
Google has announced a change to its user consent policy which will affect website publishers using Google AdSense. Under the new policy, publishers will have to obtain EU end users’ consent before storing or accessing their data, Google says in a blog post. Jason Woloz, Security & Privacy Program Manager, Display and Video Ads, comments, "European Union data protection authorities requested some changes to current practices for obtaining end user consents. It has always been Google’s policy to comply with privacy laws, so we’ve agreed to make certain changes affecting our own products and partners using Google products. If your websites are getting visitors from any of the countries in the European Union, you must comply with the EU user consent policy. We recommend you start working on a policy-compliant user consent mechanism today." Reference Link
11:18 EDTCSCOCisco's new CEO names Biri Singh as CTO, Kevin Brandy as CDO
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10:47 EDTQCOM, INTCQualcomm rises in down market after Morgan Stanley upgrade
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10:35 EDTINTCIntel, Micron gain after announcing joint press event
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10:00 EDTQCOMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Buy from Neutral at Citi... AGCO (AGCO) upgraded to Neutral from Sell at Goldman... Anthem (ANTM) upgraded to Buy from Neutral at Sterne Agee CRT... BNP Paribas (BNPQY) upgraded to Buy from Neutral at Goldman... Biogen (BIIB) upgraded on valuation at Bernstein... Box (BOX) upgraded to Overweight from Sector Weight at Pacific Crest... Capital One (COF) upgraded to Buy from Outperform at CLSA... Centene (CNC) upgraded to Buy from Neutral at UBS... Chesapeake (CHK) upgraded on potential sale of assets or company at SunTrust... Cigna (CI) upgraded to Buy from Neutral at Sterne Agee CRT... Deere (DE) upgraded to Neutral from Sell at Goldman... First BanCorp (FBP) upgraded to Buy from Neutral at Guggenheim... Flotek (FTK) upgraded on stronger demand at Oppenheimer... Lear (LEA) upgraded to Buy from Hold at Deutsche Bank... Methanex (MEOH) upgraded to Outperform from Sector Perform at Scotia Howard Weil... News Corp. (NWSA) upgraded to Outperform from Neutral at Macquarie... NextEra Energy Partners (NEP) upgraded to Outperform at Wells Fargo... OFG Bancorp (OFG) upgraded to Buy from Neutral at Guggenheim... PennyMac Mortgage (PMT) upgraded to Buy from Neutral at Compass Point... Pool Corp. (POOL) upgraded to Outperform from Market Perform at William Blair... Popular (BPOP) upgraded to Buy from Neutral at Guggenheim... Qualcomm (QCOM) upgraded to Overweight from Equal Weight at Morgan Stanley... Quality Systems (QSII) upgraded on valuation at RBC Capital... VF Corp. (VFC) upgraded to Buy from Neutral at Goldman... Ventas (VTR) upgraded on valuation, positive catalysts at BMO Capital... Weatherford (WFT) upgraded to Equal Weight from Underweight at Barclays... SS&C (SSNC) upgraded to Buy from Hold at Sandler O'Neill... Chemung Financial (CHMG) upgraded to Buy from Hold at Sandler O'Neill... Cameron (CAM) upgraded to Buy from Accumulate at Global Hunter.
09:36 EDTVZ, INTCActive equity options trading on open
Active equity options trading on open: AAPL NFLX INTC MU VZ BIDU AMBA
09:30 EDTGOOGGoogle to shut down Autocomplete API on August 10
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06:59 EDTQCOMQualcomm upgraded to Overweight from Equal Weight at Morgan Stanley
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06:36 EDTINTCIntel to adopt Skylake CPUs in NUC and Computer Stick, DigiTimes reports
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06:23 EDTGOOGInstagram's mobile ad revenues to reach $2.81B in 2017, eMarketer says
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06:21 EDTGOOGGoogle Ventures joins Secret Escapes' $60M funding round, TechCrunch reports
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06:01 EDTGOOGStocks with implied volatility below IV index mean; ASHR AMBA
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July 26, 2015
19:00 EDTVZVerizon workers willing to authorize strike if needed, AP says
In a recent poll available to the 39,000 Verizon workers covered by the Communications Workers of America union, 86% of participants said they would be willing to back strike action in a dispute with Verizon over contract terms, the Associated Press reported Saturday, citing statements by union officials at a rally. Reference Link
15:07 EDTCSCOCisco CEO to add 'key external hires' to management team, Barron's says
Cisco CEO Chuck Robbins told Barron's in an interview that "I think it’s fair to say I bring the ability to move faster [than predecessor John Chambers] just in how I structure the teams and how I will interact with them," adding that he plans "some key external hires," potentially in cloud computing and security. The publication notes that shares of Cisco could jump "sharply higher" if investors start looking at Cisco's potential strength in the Internet-of-Things space. Reference Link
14:44 EDTCSCOAmazon cloud sales signal risk for traditional data storage, Barron's says
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July 24, 2015
16:30 EDTQCOM, VZStocks end week lower as Apple headlines busy week of earnings
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14:04 EDTGOOGOn The Fly: Weekly technical notes on 'FANG' and divergences
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07:43 EDTGOOG, VZGoogle, others to create air traffic control for drones, Bloomberg says
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06:18 EDTGOOGYouTube updates app, to offer VR, Engadget says
Google's YouTube has updated its mobile app, adding Home, Subscriptions, and Account tabs, Engadget reports. Users can watch full-screen vertical videos with just a single tap for the first time. In addition, the redesigned app comes with a set of video creation tools, including the option to trim footage, tint the image with filters, add music, and upload creations within the app. In addition, YouTube said that virtual reality will come to the streaming service with 360-degree video, the report says. Reference Link
06:17 EDTCSCOCisco new CEO says to exit Q4 with headcount up
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06:13 EDTGOOGApple removes Nest smart thermostat from online, retail stores, Mashable says
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06:13 EDTINTC, QCOMAnalysts say Intel best suitor for Qualcomm's chip unit, Reuters says
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06:08 EDTGOOGStocks with implied volatility below IV index mean; LOCK GOOG
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July 23, 2015
19:24 EDTGOOGWal-Mart's Apple Pay competitor launching soon, Bloomberg says
CurrentC, the mobile payment application funded by Wal-Mart (WMT), Target (TGT), Best Buy (BBY) and others, will see an early trial run next month, Bloomberg reported earlier, citing three people familiar with the situation. A spokesperson for Lowe's (LOW) said the consortium behind the app expects an official launch in Q3, and Bloomberg noted that CurrentC will compete with more "established" offerings such as Apple's (AAPL) Apple Pay and Google's (GOOG) Android Pay. Reference Link
14:17 EDTGOOGEarnings Watch: Visa reports after 'top pick' mention by Bernstein
Visa (V) is expected to report third quarter results after the close on July 23, with a conference call scheduled for 5:00 pm ET. Visa is a global payments technology company. EXPECTATIONS: Analysts are looking for earnings per share of 59c on revenue of $3.36B. EPS consensus ranges 54c-65c on a revenue range of $3.32B-$3.41B, according to First Call. LAST QUARTER: On April 30, Visa reported second quarter EPS of 63c against expectations for 62c, and reported revenue of $3.41B versus estimates of $3.34B. During its quarterly conference call, the company noted that "we're now looking at Q3 fully diluted EPS being 6c-8c lower than analyst's current expectations," adding that results are likely to be pressured by higher client incentives. Visa executives also disclosed expectations for a "meaningful step-up" in Q3 expense growth, with a number of marketing and technology initiatives having shifted towards the latter half of the year. PEERS: American Express (AXP) reported quarterly earnings after the close on July 22, with earnings above consensus estimates but revenue somewhat below expectations, noting a "significant" impact from a stronger U.S. dollar on international operations. NEWS: On May 8, Bloomberg reported that Visa was in preliminary talks to acquire Visa Europe for $15B-$20B, according to sources. On June 3, Visa and FireEye (FEYE) announced a strategic partnership to co-develop tools and services to protect against cyber attacks targeting payment data. On June 5, the Wall Street Journal reported that, due to Visa and MasterCard (MA) having finalized their card-security technology, Google's (GOOG) Android Pay will not be earning any transaction fees from credit-card issuers, and on June 17, Reuters reported that a U.S. appeals court affirmed that American Express can no longer block businesses from steering customers towards competitor cards, such as those of Visa. STREET RESEARCH: On May 19, Pacific Crest's Josh Beck shifted his preference to MasterCard from Visa, though he noted that the shift was simply due to Visa's outperformance over the past year. On May 20, Bernstein noted that the risk/reward ratio for both Visa and MasterCard looks positive, with the companies offering secular growth, "compelling" business models, and modest risk. More recently on July 14, Bernstein named Visa among its "Vintage Values 2016" list, citing the company's U.S. acquirer price increase and expectations that the Visa Europe put option will be exercised this year. PRICE ACTION: Shares of Visa have fallen just under 1% to $71.41 ahead of Thursday's earnings report.
13:53 EDTGOOG“Fab Five” option implied volatility
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13:13 EDTGOOGEarnings Watch: Amazon to report Q2 results after ‘record breaking’ Prime Day
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12:32 EDTQCOMOn The Fly: Top stock stories at midday
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12:04 EDTINTCRackspace, Intel announce OpenStack collaboration
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11:23 EDTGOOGGoogle announces program to help give patents to startups
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10:20 EDTGOOGGM CEO says just completed car sharing program at Google HQ
General Motors (GM) CEO Mary Barra made the comment on the company's Q2 earnings conference call.
10:08 EDTVMWOptions with decreasing implied volatility
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09:13 EDTQCOMOn The Fly: Pre-market Movers
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09:09 EDTVMWEMC moves positive, says BMO Capital
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08:02 EDTQCOMWilliam Blair 'running out of patience' with Qualcomm
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07:50 EDTQCOMQualcomm split would be positive, says RBC Capital
RBC Capital believes that Qualcomm is more open to splitting its business, and the firm says that it would view a split positively. The firm says that splitting the company into two businesses with cross-licensing deals would make its units "more agile and flexible." RBC thinks that the company must split in order to carry out major strategic changes, including "transformational M&A" and TAM expansion. It keeps a $77 price target and Outperform rating on the shares.
07:50 EDTQCOMQualcomm weakness a buying opportunity, says BofA/Merrill
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07:28 EDTVMWEMC upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Maynard Um upgraded EMC (EMC) to Outperform citing a more favorable risk/reward following the company's reduced guidance. Um sees the potential for a number of strategic corporate actions, some of which he believes could take place before year-end. Most favorable would be a buy-in of EMC's VMware (VMW) stake, Maynard tells investors in a research note. The analyst has a $29-$31 price target range for EMC shares, which closed yesterday up 45c to $25.38.
06:32 EDTGOOGOracle requests permission to update suit against Google, Reuters reports
Oracle (ORCL) has requested permission from a U.S. judge to update its copyright lawsuit against Google (GOOG) to include the Android operating system's current market dominance, Reuters reports. Oracle has said it wants the suit to add that Google continues its copyright infringement through updated versions of Android, the report says. Reference Link
06:25 EDTGOOGApple Watch, Android Wear Wi-Fi adoption to motivate others, DigiTimes says
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06:22 EDTINTCIntel to release notebook Skylake processor in October, DigiTimes reports
Intel is expected to release its upcoming notebook Skylake processor in October, reports DigiTimes. The company is planning to launch a total of 18 notebook Skylake processors in Q4 as it looks to help boost notebook demand. The company is adjusting their schedules for Skylake products to minimize the impact of inventory issues. Reference Link
06:19 EDTGOOGSony plans 'stripped back' version of Android
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06:15 EDTCSCOTechnicolor to acquire Cisco's connected devices unit for EUR550M
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06:05 EDTGOOGStocks with implied volatility below IV index mean; GOOG LOCK
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July 22, 2015
23:09 EDTGOOGFormer MTV executive joins YouTube as VP of originals, Variety says
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19:02 EDTQCOMOn The Fly: After Hours Movers
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17:51 EDTQCOMQualcomm sees FY16 QCT margins 'significantly improved'
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17:21 EDTQCOMQualcomm lowers FY15 total reported device sales to approximately $253B-$259B
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17:17 EDTQCOMQualcomm sees Q4 MSM chip shipments 170M-190M
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17:15 EDTQCOMQualcomm says inventory build expected to hurt chip sales in Q4
The company said, "We have reduced our outlook for our semiconductor business, QCT, in the fiscal fourth quarter compared to our prior expectations driven primarily by factors impacting premium-tier demand, including: Increased concentration within the premium tier causing reduced demand for certain OEM devices that include our chipset; Lower demand for our premium-tier chipsets from a vertical customer; and Lower sell through in China of certain handset models using our premium-tier chipsets."
17:10 EDTQCOMQualcomm says expects to grow businesses in China going forward
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17:00 EDTQCOMQualcomm says will continue to spend over $4B annually on R&D
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16:48 EDTQCOMQualcomm to reduce full-time headcount by 15%
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16:09 EDTQCOMQualcomm provides details of Strategic Realignment Plan
The details of the Qualcomm Strategic Realignment Plan are as follows: 1) Aggressively right-sizing the cost structure to deliver profitable growth. Qualcomm is implementing a comprehensive cost reduction action to reduce annual costs from its fiscal 2015 levels of $7.3 billion (adjusted for variable compensation) by approximately $1.1 billion through a series of targeted reductions that will not jeopardize the Company's growth objectives or core technology roadmap. These cost initiatives include reductions in headcount and temporary workforce, streamlining the engineering organization, reducing the number of offices and increasing the mix of resources in lower-cost regions. The Company is also reducing annual share-based compensation grants by approximately $300 million. While these specific cost initiatives are expected to be fully implemented by the end of fiscal year 2016, the Company will continue to examine its cost structure for additional efficiencies that enhance profitability without sacrificing its future growth potential. 2) Initiating new review of financial and structural alternatives available to create stockholder value. In light of recent industry developments and other elements of the Strategic Realignment Plan, Qualcomm's Board and management, with the assistance of outside financial advisors, are conducting a review of the Company's corporate structure (including possible business separation alternatives), capital return opportunities and other potential strategic and financial alternatives available to the Company to create stockholder value. The Company does not expect to publicly comment on this review prior to its completion, which is expected to occur by the end of the calendar year. 3) Reaffirming intent to return significant capital to stockholders. A strong balance sheet and regulatory resolution in China have provided Qualcomm the flexibility to significantly increase its capital returns to stockholders and execute the largest capital returns program in Company history. Qualcomm is committed to continuing to return a minimum of 75% of free cash flow to stockholders through dividends and repurchases going forward, in addition to the previously announced $10 billion stock repurchase program to be completed by March 2016. Changes to the capital return program will be considered as part of the Board and management's review of financial and structural alternatives. 4) Adding new Directors with complementary skill sets while reducing the average tenure of the Board of Directors. Mark McLaughlin and Tony Vinciquerra have been added to the Board and the Company plans to appoint one additional independent director. These directors bring skills and perspectives that will be helpful to the Company as it implements its Strategic Realignment Plan. The Company is also reducing the average tenure of the Board of Directors. General Brent Scowcroft and Duane Nelles have retired from the Board. Sir Donald Cruickshank had previously informed the Company that he will not stand for re-election to the Board in 2016. Raymond Dittamore has advised the Company that, assuming he is re-elected to the Board at the Company's 2016 Annual Meeting of Stockholders, he does not intend to stand for re-election in 2017. 5) Further aligning executive compensation with performance and stockholder return objectives. The Board plans to change Qualcomm's executive compensation program by adding an additional returns-based metric for performance-based equity awards and taking share-based compensation provided to the Company's executives and other employees into account when calculating earnings per share for use in determining executives' annual cash bonuses. 6) Disciplined investment to further leadership positions and drive growth while delivering attractive returns. The Company intends to focus its investments in technologies that scale across core smartphone and adjacent growth opportunities, such as in its leading modem and other differentiated technologies. Qualcomm is reducing its investments outside of QTL and QCT and will focus these investments around the highest-return opportunities, including data centers, small cells and certain IoE verticals.
16:06 EDTQCOMQualcomm lowers FY15 adjusted EPS view to $4.50-$4.70 from $4.60-$5.00
FY15 consensus $4.79. Lowers FY15 revenue view to $24.5B-$25.5B from $25B-$27B, consensus $25.95B.
16:04 EDTQCOMQualcomm sees Q4 adjusted EPS 75c-95c, consensus $1.08
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16:03 EDTQCOMQualcomm announces strategic realignment plan
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16:01 EDTQCOMQualcomm reports Q3 adjusted EPS 99c, consensus 95c
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15:26 EDTQCOMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
15:16 EDTVZFCC set to deny T-Mobile request for small carrier airwave help, Bloomberg says
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14:51 EDTQCOM, INTCEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
13:06 EDTGOOGCompetitors ask EU to probe Google ad technology market practices, FT says
Several of Google's (GOOG) rivals, including OpenX and AppNexus, which is part owned by WPP (WPPGY) and Microsoft (MSFT), have suggested that the European Union investigate the internet giant, claiming it may be unlawfully stifling competition in the market for advertising technology, the Financial Times reports. The companies' grievances relate to the way in which Google bundles its advertising technology products through contracts that may discourage or even prevent customers from using competitors' services, the report says. The companies in question have submitted documents to the EU expressing concern over the issue but have not submitted an official complaint, the report adds. Reference Link
10:45 EDTQCOMQualcomm technical notes ahead of results
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10:15 EDTVMWOptions with decreasing implied volatility
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08:39 EDTVZVerizon partners with U-Michigan to open autonomous vehicle test bed
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06:41 EDTGOOGLG denies rumors that Google will take 35% stake, Korea Herald reports
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06:15 EDTINTC, GOOGGoogle's updated Glass to be foldable, more weather-resistant, 9to5Google says
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06:08 EDTGOOGSony to create drone company to offer services for business customers, WSJ says
Sony (SNE) plans to create a drone company to offer services like inspecting aged infrastructure and surveying land that is difficult to access, The Wall Street Journal reports. The drone company, Aerosense, will be created in a joint venture with ZMP Inc, a Tokyo startup which specializes in autopilot technology. Amazon (AMZN) and Google (GOOG) are currently researching the use of drones for package delivery, the report notes. Reference Link
05:55 EDTQCOMQualcomm to cooperate with Microsoft, Allwinner in mobile market, DigiTimes says
Qualcomm (QCOM) is expected to ramp up its penetration in the entry-level mobile device market by cooperating with Microsoft (MSFT) to launch low-cost Windows Mobile 10 products, reports DigiTimes Research. Qualcomm is also expected to cooperate with Allwinner Technology to launch 3G/4G solutions for connected tablets. Reference Link
05:29 EDTGOOGStocks with implied volatility below IV index mean; WMB GOOG
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July 21, 2015
19:09 EDTGOOGYahoo CEO sees Q3 pressure on revenue ex-TAC and adjusted EBITDA
Speaking on the company's Q2 earnings conference call, Yahoo (YHOO) CEO Marissa Mayer said she is "pleased" with momentum in display business, adding that the company will continue to focus on sustaining GAAP revenue growth while striving to grow adjusted EBITDA. She noted search clicks were up 13% for the quarter, and mobile user base was up 14%. Mayer cautioned that the Gemini search platform will see pricing pressure and reduced revenue per search in the near-term as Yahoo optimizes the service. She said she expects "some" pressure in Q3 including pressure on revenue ex-TAC and adjusted EBITDA, and remarked separately that Yahoo has been investing "modestly" over the past two years in algorithmic and paid search technologies. Finally, Mayer declined to speculate on any future agreements with Google (GOOG). CFO Ken Goldman said the company's "highest priority" is to execute the Alibaba (BABA) spinoff this year. Goldman also noted that Yahoo's board of directors and management team have met with advisors to review alternatives with regards to Yahoo Japan, but had no specific conclusion to share.
19:00 EDTQCOM, VMWOn The Fly: After Hours Movers
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18:37 EDTVZVerizon CFO says video service to feature targeted ads, Reuters reports
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18:14 EDTQCOMApple supplier stocks sink after iPhone, iPad unit volumes lower sequentially
Shares of iPhone suppliers, including Skyworks (SWKS), Cirrus Logic (CRUS), NXP Semiconductors (NXPI), and QUALCOMM (QCOM), are trading lower after Apple (AAPL) reported third quarter earnings after the close. WHAT'S NOTABLE: Apple reported iPhone unit volume of 47.5M in Q3 versus 61.1M in the prior quarter. Apple's iPad unit volume was 10.9M for Q3, lower than the 12.6M unit volume reported in the prior quarter. PRICE ACTION: Apple is sinking almost 7% in after-hours trading, while its suppliers are also lower, with Skyworks down more than 5%, Cirrus Logic down just under 5%, NXP Semiconductors slumping almost 5%, and QUALCOMM sliding 1.2%.
17:34 EDTVMWVMware sees Q3 revenue $1.6B-$1.665B, consensus $1.66B
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17:27 EDTVMWVMware sees Q3 EPS 98c-$1.00, consensus $1.00
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17:26 EDTVMWVMware raises FY15 EPS view to $3.97-$4.03 from $3.94-$4.02
Consensus for FY15 EPS is $3.99.
17:23 EDTVMWVMware backs FY15 revenue $6.57B-$6.69B, consensus $6.65B
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16:28 EDTVZOn The Fly: Top stock stories for Tuesday
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16:04 EDTVMWVMware reports Q2 license revenue $638M
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16:03 EDTVMWVMware reports Q2 EPS 93c, consensus 91c
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15:11 EDTVZEarnings Watch: Microsoft up 5% since announcing Nokia writedown
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15:02 EDTVMWNotable companies reporting after market close
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14:24 EDTVMW, CSCOEarnings Watch: EMC reports amid M&A speculation in sector
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14:02 EDTGOOGYouTube pulls Streamus app, Variety reports
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13:33 EDTGOOGGoogle acquires Pixate, terms not disclosed
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12:59 EDTGOOGEarnings Watch: Tax questions linger into Yahoo Q2 report
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12:21 EDTVZOn The Fly: Top stock stories at midday
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10:50 EDTVMWVMware technical notes ahead of earnings news
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09:06 EDTGOOGADT Corp. announces partnership with Nest Labs
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08:59 EDTVZVerizon CFO says churn rate improvement shows company 'protecting its base'
Verizon CFO Shammo says the company needs to compete where the market takes it. Comments from Verizon's Q2 earnings conference call.
08:48 EDTVZVerizon sees percentage of activations on installments continuing to grow in Q3
Shammo said customer demand for device installment plans has increased, noting that the percentage of phone activations on installments grew to 49% in Q2, compared with 39% in Q1 and 18% a year ago. Phone activations on device installment plans totaled 4.7M in the quarter and Verizon now has more than 14M customers on these plans, representing about 16% of its postpaid phone base. The company believes that the percentage of phone activations on installments will continue to increase and will likely be around 60% in Q3. Comments made by Verizon CFO Fran Shammo speaking on the company's earnings conference call.
08:15 EDTQCOMQualcomm split would likely destroy value, says Bernstein
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08:05 EDTVMWVMware July weekly volatility elevated into Q4 and outlook
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07:53 EDTQCOMQualcomm July weekly volatility elevated into Q3 and report of possible breakup
Qualcomm July weekly call option implied volatility is at 60, August is at 27, September is at 23; compared to its 52-week range of 12 to 48, suggesting large near term price movement into the expected release of Q3 results on July 22 and WSJ report of possible breakup.
07:45 EDTGOOGSell PayPal amid mounting payments competition, Piper says
Shares of PayPal (PYPL) advanced over 5% yesterday in the stock's first day of trading following a split from eBay (EBAY), with the majority of research firms issuing optimistic notes on its prospects. This morning, however, analyst Gene Munster of Piper Jaffray recommends selling the share as competition grows in the digital payments space. BEARS: Munster started shares of PayPal with an Underweight rating, the firm's equivalent of a "Sell," saying increased competition could pressure the stock's multiple over the next 6-24 months. Google's (GOOG) Android Pay and Apple's (AAPL) Apple Pay will give consumers a "real alternative to PayPal" for the first time, Munster tells investors in his research note. In addition, interest in payments from Amazon.com (AMZN) and Facebook (FB) bring potential for more digital wallet offerings, the analyst notes. Munster set a $30 price target for PayPal. Of note, Evercore ISI also started coverage of PayPal shares yesterday with a Sell rating. BULLS: Wells Fargo initiated coverage of PayPal yesterday with an Outperform rating, saying the company's unique assets will enable it to maintain its leadership role in digital payments and benefit from the growth of e-commerce. Also upbeat was Robert W. Baird analyst Colin Sebastian, who contends that PayPal has the top pure play online payment system and is continuing to grow its share of the Internet payment market. PayPal should be able to innovate more effectively after its spin-off, added the analyst, who set a $45 price target on the shares. PRICE ACTION: Shares of PayPal are pointing toward further gains in their second day of standalone trading, with the stock up about 2.7% to $41.55 in pre-market trading.
07:43 EDTVZVerizon says quality of the net additions 'remained strong' in Q2
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07:39 EDTVZVerizon sees FY15 consolidated revenue growth of at least 3%
For the full year, the company estimates consolidated revenue growth of at least 3%, excluding revenue from AOL. Consensus $131.3B.
07:38 EDTVZVerizon sees higher revenue growth rate in Q3 than in Q2
Consensus $32.87B. Verizon said regarding consolidated revenue outlook, "Verizon expects a higher year-over-year growth rate in third-quarter 2015 than in second-quarter 2015," noting that the estimate excludes revenue from AOL.
07:36 EDTVZVerizon says portion of AOL results immaterial to end of Q2
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07:36 EDTGOOGGoogle shutting down Google+ Photos beginning August 1
Google said in a blog post, "In May, we launched Google Photos as the home for all your photos and videos. With Google Photos you can store unlimited high quality photos and videos for free, find photos fast, and see them organized by what matters to you. Plus, you can bring moments to life and share anywhere with anyone. In an effort to ensure everyone has the best photos experience we can deliver, on August 1st we’ll start to shut down Google+ Photos -- initially on Android, and soon thereafter on the Web and iOS. If you’re still using Google+ Photos, now is a great time to make the switch. You may have seen a prompt in Google+ Photos on Android with a link to download the new Google Photos. Don’t worry, all your photos and videos will still be saved and available after you switch to the new, stand-alone Google Photos app. With the new app you’ll still be able to backup, edit, and share your photos and videos, with unlimited storage, automatic organization, and more." Reference Link
07:35 EDTVZVerizon backs FY15 capex view of $17.5B-$18B
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07:32 EDTVZVerizon reports Q2 EPS $1.04, consensus $1.01
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06:19 EDTGOOGSilicon Valley giants side with Samsung in battle with Apple, InsideSources says
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05:34 EDTGOOGPayPal initiated with an Underweight at Piper Jaffray
Piper Jaffray analyst Gene Munster started shares of PayPal (PYPL) with an Underweight rating saying increased competition could pressure the stock's multiple over the next 6-24 months. Underweight is Piper's equivalent of a sell rating. Google's (GOOG) Android Pay and Apple's (AAPL) Apple Pay will give consumers a "real alternative to PayPal" for the first time, Munster tells investors in a research note. In addition, interest in payments from Amazon.com (AMZN) and Facebook (FB) bring potential for more digital wallet offerings, the analyst notes. Munster set a $30 price target for PayPal, which began trading yesterday following a spinoff from parent company eBay (EBAY). Shares of the online payment system closed Monday up $2.08 to $40.47.
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