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Stock Market & Financial Investment News

News Breaks
March 11, 2012
11:57 EDTQCOM, ARUN, S, BRCM, IPAS, T, MERU, WIFI, VZLTE promises just as many headaches as breakthroughs, Barron's says
The telephone companies are happy because long term evolution, or LTE, not only moves units of phones, but also lets carriers squeeze more bits out of each hertz, Barron's reports. LTE already has deepened the disparity among U.S. carriers. Verizon (VZ) and AT&T (T) are far ahead of others. While, Sprint-Nextel (S) is just getting started. The benefits nevertheless are not clear cut. LTE is just at the beginning of the road. As that service fills up, it will require increasing capital investments. Moreover, the true payoff only comes if customers are satisfied, not disappointed. Both AT&T and Verizon now cap how much you can use. As a result, there will be more interest in what's called "WiFi offloading," where customers are bumped from LTE onto the nearest WiFi network. Barron's Technology Trader columnist Tiernan Ray contends that this could mean opportunity for WiFi network operators such as Boingo Wireless (WIFI) and iPass (IPAS). Also for WiFi equipment vendors like Aruba Networks (ARUN) and Meru Networks (MERU). Chip vendors Broadcom (BRCM) andQualcomm (QCOM) are already touting their parts for higher-speed versions of WiFi, called 802.11ac. Reference Link
News For VZ;T;S;WIFI;IPAS;ARUN;MERU;BRCM;QCOM From The Last 14 Days
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January 26, 2016
16:02 EDTTAT&T reports 2.8M wireless net adds; 1.6M branded (postpaid and prepaid) in Q4
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16:01 EDTTAT&T reports Q4 adjusted EPS 63c, consensus 63c
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16:00 EDTT, SOptions Update; January 26, 2016
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15:03 EDTQCOM, BRCMEarnings Watch: Apple may report first ever quarter with iPhone unit decline
Apple (AAPL) is set to report earnings for the company's first quarter of fiscal year 2016 after the market close on Tuesday, January 26, with a conference call scheduled for 5:00 pm ET. Apple, the most valuable U.S.-listed company by market capitalization, is the manufacturer of the iPhone and iPad, among other devices. EXPECTATIONS: Analysts are looking for earnings per share of $3.23 on revenue of $76.59B, according to First Call. The consensus range for EPS is $2.83-$3.44 on revenue of $70.65B-$79.96B. Along with its last earnings report, Apple said it sees Q1 revenue of $75.5B-$77.5B and a gross margin between 39%-40%. On average, analysts expect the tech giant to report iPhone units of 75M, according to Bloomberg data that sources nine analyst estimates. iPad units are estimated at 17.3M, Mac units are estimated at 5.8M and Watch units are estimated at 5.3M, according to Bloomberg. LAST QUARTER: On October 27, Apple reported fourth quarter EPS of $1.96, which topped the consensus estimate of $1.88. Fourth quarter revenue of $51.5B also beat the $51.12B consensus expectation. Apple reported iPhone units of 48.05M, iPad units of 9.88M and Mac units of 5.71M in Q4. Apple reported a Q4 gross margin of 39.9%. LAST YEAR: In its first fiscal quarter of last year, Apple reported EPS of $3.06 on revenue of $74.6B and a gross margin of 39.9%. Last year, Apple reported iPhone units of 74.47M, iPad units of 21.42M and 5.52M Mac units in its first quarter. UPCOMING PHONES: According to media reports, Apple's next flagship smartphone, likely called the iPhone 7, will not have a 3.5mm headphone jack, will be thinner, and will likely support wireless charging and be waterproof. Apple is also rumored to soon be releasing a new 4-inch iPhone, known as the "iPhone 5se," that will likely have faster A9/M9 chips and always-on Siri, 9to5Mac reported. The iPhone 5s will be discontinued upon the release of the 5se, which is expected as soon as mid-March, the report said. CAR EFFORTS: Steve Zadesky, who was tapped by Tim Cook to lead Apple's electric car development, is leaving the company, Bloomberg reported on January 24, citing sources. Zadesky stepped down due to personal reasons unrelated to his performance, and the move has not affected Apple's plans to build a car, Bloomberg added. The next day, AppleInsider said Apple has placed a hiring freeze on the team involved with the company's nascent automotive project known as "Project Titan" after company executives became unsatisfied with the project's progress, though CNET then said, citing a source, that contrary to the earlier report Apple Chief Design Officer Jony Ive was not unhappy with the direction of the company's car effort. OTHER NEWS: In early December, CBS (CBS) CEO Les Moonves said Apple had paused development of its live TV service, according to Bloomberg. "They've had conversations on it and I think they pressed the hold button. They were looking for a service," said Moonves, according to the report. Following up on that report, Re/code, citing sources, said Apple had walked away from negotiations with TV industry executives due to issues with the composition of the "skinny bundle" it would offer. Later in the month, Apple announced that Jeff Williams had been named COO and Johny Srouji is joining Apple's executive team as senior vice president for Hardware Technologies. UBS analyst Steven Milunovich said afterward that Williams looks like CEO Tim Cook's successor, adding that Williams had been speculated as next in line since he had been included in presentations, but the promotion to a new position was still unexpected. STREET RESEARCH: On the day after the company's last quarterly report, Pacific Crest analyst Andy Hargreaves upgraded Apple to Overweight, stating that its long-term value offset its remaining near-term risks. On November 18, Goldman Sachs analyst Simona Jankowski upgraded Apple to Conviction Buy, saying the market views Apple as a "hardware" stock, or a company with limited recurring revenue and visibility that only extends to the next product cycle, but over the next year she expects the market focus will shift from unit growth to installed base monetization and recurring revenues, which she dubbed "Apple-as-a-Service." On December 11, BMO Capital analyst Tim Long initiated Apple with an Outperform rating and $145 price target, contending that iPhone unit growth will be in the high single digits for a few years. During mid-to-late December, several analysts, including Morgan Stanley's Katy Huberty, Credit Suisse's Kulbinder Garcha, BofA Merrill Lynch's Wamsi Mohan and UBS' Milunovich, lowered their iPhone unit estimates, citing smartphone supply chain data points and other sources of information. On January 6, Rosenblatt analysts Jun Zhang and Martin Pyykkonen downgraded Apple to Neutral, saying they believe iPhone 6S sales slowed down during the holiday season. On January 11, Mizuho analyst Abhey Lamba upgraded Apple to Buy from Neutral, saying that investors' focus on short-term supply chain data points had created an attractive risk/reward in the tech giant's shares. The next day, Bank of American Merrill Lynch upgraded Apple to Buy, echoing the view that worries that were prompted by supply chain data points had been largely factored into the stock after its pullback. On January 22, Piper Jaffray analyst Gene Munster recommended buying shares of Apple into the company's earnings report, stating that he believes the stock will rally on the iPhone number change cycle and experience multiple expansion over the next six months. Munster, who thinks shares of Apple could achieve upside of over 50% from its recent levels by the iPhone 7 launch in September, kept an Overweight rating on the iPhone maker with a $179 price target. OTHERS TO WATCH: Shares of iPhone suppliers, including Skyworks (SWKS), Cirrus Logic (CRUS), NXP Semiconductors (NXPI), Qualcomm (QCOM), Avago Technologies (AVGO) and Broadcom (BRCM), often move in reaction to Apple's earnings report and guidance. PRICE ACTION: On October 28, the day after Apple reported better than expected fourth quarter sales and profits, the stock advanced a bit over 4%. Since the beginning of the new year, Apple shares have declined more than 4.7%. Over the last three months, the stock has fallen 13% to trade near $100 per share in late afternoon trading ahead of Tuesday's report.
14:32 EDTTNotable companies reporting after market close
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12:37 EDTQCOMQualcomm technical notes ahead of earnings news
If there is strong positive news, the shares based on the current price of $48.73 would likely test above initial resistance at $50. A key level for the stock would be a breakout above $53.50. Should price hit that mark, it would break the current downtrend in shares which began in July 2014. If the news continues to be bearish, the downtrend is likely to persist. In that event support levels to watch as potential downside objectives would be at $47.52, $45.82, and the 52-week low at $44.39.
12:16 EDTSOn The Fly: Top stock stories at midday
Stocks began the session in positive territory moved cautiously in the opening segment, before shooting higher following the better than expected consumer confidence reading. The Dow is the biggest winner and is up more than 1.5% while the Nasdaq has been lagging but is up more than 0.6%. ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. In Asia, Japan's Nikkei index fell 2.35% while China's Shanghai composite slid 6.4%. COMPANY NEWS: The volume of earnings reports took a step up, with four members of the bluechip Dow Jones Industrial Average posting results before the opening bell this morning. All four advanced on the heels of their reports, with 3M (MMM) leading the pack with a gain of 4.5% despite earnings, excluding restructuring charges, that missed the consensus forecast. The industrial conglomerate did, however, affirm its performance expectations for the new fiscal year. Meanwhile, Johnson & Johnson (JNJ) rose 3%, Procter & Gamble (PG) gained 2.7% and DuPont (DD) added 1.6%... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over next two years and announcing that it has agreed to sell AIG Advisor Group to private equity firm Lightyear Capital and Canadian pension investment manager PSP Investments. AIG also said it will pursue an initial public offering of United Guaranty in mid-2016 to sell up to 19.9% of the outstanding shares as a first step towards a full separation. However, the insurer said it believes a full breakup, as espoused by investor Carl Icahn, would detract from shareholder value, arguing that a lack of diversification benefits would reduce capital available for distribution and there would be a loss of tax benefits. MAJOR MOVERS: Among the notable gainers was Avis Budget (CAR), which rallied 7% after the company raised its share repurchase authorization by $300M and after SRS Investment reported a 9.5% stake in the company. Also higher were Sprint (S) and Coach (COH), which gained 20% and 11%, respectively, after reporting quarterly earnings. In addition, FirstMerit (FMER) rose 16% after reporting quarterly earnings and announcing that it will merge with Huntington Bancshares (HBAN) in a deal valued at $3.4B. Huntington Bancshares fell 10% after the FirstMerit merger agreement was announced. Also lower was Stratasys (SSYS), which dropped 6% after JPMorgan downgraded the shares to Neutral from Overweight. In addition, Polaris (PII) and Waters Corporation (WAT) were down 11% and 4.5%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 273.66, or 1.72%, to 16,158.88, the Nasdaq was up 49.20, or 1.09%, to 4,567.69, and the S&P 500 was up 25.96, or 1.38%, to 1,903.04.
12:14 EDTTEarnings Watch: AT&T sees Q4 noncash, pre-tax gain of approximately $2.2B
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09:15 EDTSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Sprint (S), up 19.5%... Rambus (RMBS), up 8%... Freeport-McMoRan (FCX), up 11.3%... Sanmina (SANM), up 9.9%... Coach (COH), up 4.9%. ALSO HIGHER: Firstmerit (FMER), up 21.5% following the merger announcement with Huntington Bancshares (HBAN). DOWN AFTER EARNINGS: Polaris (PII), down 4.2%. ALSO LOWER: Huntington Bancshares, down 6.8% after announcing a merger with Firstmerit. Stratasys (SSYS), down 3.7% after being downgraded to Neutral from Overweight at JPMorgan.
09:05 EDTVZVerizon and Samsung launch network extender solution
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08:40 EDTSSprint CEO says executing on improved network despite press reports
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07:56 EDTSSprint up 16% after raising adjusted EBITDA view
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07:53 EDTSRBC Capital to hold a field trip
Brazil Telecoms Trip travels throughout Sao Paulo, Brazil visiting with various companies on January 26-27.
07:45 EDTSSprint establishing network-related financing entity in partnership with SoftBank
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07:43 EDTSSprint reports Q3 postpaid phone net additions of 366,000
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07:40 EDTSSprint sees FY16 Adjusted EBITDA rising to $9.5B-$10B
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07:39 EDTSSprint raises FY15 adjusted EBITDA view to $7.7B--$8B from $6.8B-$7.1B
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07:33 EDTSSprint reports Q3 adjusted EBITDA of $1.9B
Sprint reported net operating revenue of $8.1B, operating loss of $197M, and Adjusted EBITDA of $1.9B.
07:32 EDTSSprint reports Q3 EPS (21c), consensus (25c)
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06:37 EDTSCertain Sprint users get $5 discount for watching mobile ads, WSJ says
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