New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 2, 2014
10:55 EDTWFC, WFC, ACN, ACN, N, N, CTSH, CTSH, CSCO, CSCO, ADBE, ADBE, NTAP, NTAP, TIVO, TIVO, RENT, RENTWells Fargo to hold a summit
4th Annual Tech Transformation Summit is being held in San Francisco on April 2-3 with webcasted company presentations to begin on April 2 at 11 am; not all company presentations may be webcasted. Webcast Link
News For WFC;ACN;N;CTSH;CSCO;ADBE;NTAP;TIVO;RENT From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
October 22, 2014
11:25 EDTCSCO, NTAPCisco sale of VCE stake to have limited impact, says Wells Fargo
Wells Fargo thinks Cisco's (CSCO) decision to sell a portion of its stake in VCE is unlikely to have a material near-to-intermediate-term impact on the company's top line since it will continue to sell its networking and compute solutions to the joint venture. Wells says Cisco's "budding" partnerships with NetApp (NTAP), Microsoft (MSFT) and Citrix (CTXS) should more than offset any potential impacts from lessening ties to EMC (EMC) and VMware (VMW).
08:18 EDTCSCOVCE to become an EMC company
Subscribe for More Information
08:00 EDTWFCWells Fargo sees opportunity with deeper move into Europe, WSJ says
Subscribe for More Information
October 21, 2014
20:00 EDTCSCOEMC said to buy out most of Cisco VCE joint venture stake, Bloomberg reports
Subscribe for More Information
14:34 EDTCSCOEarnings Preview: EMC reports after HPQ merger talks said to end
EMC Corporation (EMC) is expected to report third quarter earnings before the bell on Wednesday, October 22, with a conference call scheduled for 8:30 am ET. EMC provides software, hardware and IT services to business customers through its three federated businesses: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure, which is represented by EMC’s majority equity stake in VMware (VMW). VMware is expected to report on its own third quarter results after the bell on Tuesday, October 21, with a conference call scheduled for 5:00 pm ET. EXPECTATIONS: For EMC, analysts are looking for earnings per share of 46c on revenue of $6.0B. The consensus range is 44c-49c for EPS and $5.91B-$6.16B for revenue, according to First Call. Along with its last earnings report, EMC raised its FY14 adjusted EPS view to $1.91 from $1.90 and guided to FY14 revenues of $24.58B. Analysts consensus for FY14 EPS and revenue currently stand at $1.91 and $24.55B. For VMware, analysts are looking for earnings per share of 83c on revenue of $1.5B. The consensus range is 81c-85c for EPS and $1.48B-$1.52B for revenue, according to First Call. LAST QUARTER: EMC reported Q2 adjusted EPS of 43c, which matched the consensus expectation. EMC's revenue of $5.9B came in slightly ahead of the $5.83B consensus projection. EMC also accelerated its 2014 share buyback plan, stating that it now expects to repurchase an aggregate of $3B of the company's common stock in 2014. VMware reported Q2 EPS of 81c, versus consensus of 79c, on revenue $1.46B, versus consensus of $1.44B. NEWS: VMware held its "VMWorld 2014" conference from August 24-28, during which the company updated its 2015 guidance. VMware's guidance for revenue growth in the mid teens percentage level and margin expansion of up to one percentage point is positive, RBC Capital analyst Matthew Hedberg wrote in a note to investors on August 26. The same day Cowen analyst Gregg Moskowitz wrote that VMware's FY15 revenue guidance would "likely weigh modestly" on the stock, even though he was not surprised by the outlook. Less than two weeks ago, Elliott Management sent a letter to the board of directors of EMC Corporation detailing its recommendations on the right path forward for EMC, in which Elliott holds a stake. Elliott believes that EMC’s Federation structure obscures enormous value at the company and that the board and management should pursue pathways to recognize this value, including a separation of VMware from Core EMC and/or various M&A opportunities, Elliott wrote. In response, EMC said its directors regularly review and evaluate the company's strategy with a view towards enhancing shareholder value. "Over the past few months, EMC's leadership has met with representatives of Elliott several times and has listened carefully to their ideas, as we do with all of our shareholders," the company said. Last week, HP (HPQ) announced the resumption of its share repurchase program after Reuters reported the company's merger talks with EMC had ended. HP had suspended the buyback program due to "possession of material non-public information." The tech giant said that day that it is "no longer in possession of such information." During September, Re/code reported, citing sources familiar with Oracle's plans, that the company was not interested in acquiring EMC. Meanwhile, Cisco (CSCO) CEO John Chambers also said last month at a Wall Street Journal breakfast that his company is not among the potential merger partners for EMC. Chambers said a deal between the two companies would have been done a "year or two ago" were it to happen, according to Reuters. STREET RESEARCH: On the day after its last earnings report, Brean Capital raised its price target on EMC to $33 from $30, citing the company's aggressive capital return strategy, encouraging core Storage dynamics and potential pent up demand. Tigress Financial, however, downgraded EMC to Buy from Strong Buy, citing valuation. Additionally, VMware estimated that its total available market would reach more than $60B in 2017, versus its estimate last year of a $50B+ total addressable market by 2016, Moskowitz noted. PRICE ACTION: In afternoon trading, EMC shares are up 1% to $27.22, while VMware is fractionally higher at $87.79. Over the last three months, EMC shares have declined almost 4%, while VMware's stock is down about 5.5% in that same time frame.
14:04 EDTTIVOEarnings Preview: Analysts divided on Broadcom ahead of Q3 report
Subscribe for More Information
08:18 EDTWFCBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
07:07 EDTADBEMecklerMedia to hold a conference
Inside 3D Printing Conference is being held in Santa Clara, California on October 21-23.
06:40 EDTADBEForrester: Adobe becomes marketing cloud leader, VentureBeat reports
Subscribe for More Information
06:08 EDTADBEAdobe and Nielsen announce strategic alliance
Subscribe for More Information
October 20, 2014
07:04 EDTRENTRentrak granted patent for measuring set-top boxes
Subscribe for More Information
October 17, 2014
16:55 EDTWFCStocks end volatile week lower amid oil price plunge
Subscribe for More Information
09:31 EDTCSCOCisco namnes Bernadette Wightman President of Cisco Cananda
Subscribe for More Information
08:06 EDTCSCOCisco, Sensity Systems announce strategic relationship
Subscribe for More Information
06:45 EDTWFCWells Fargo closes alternative trading system, Reuters says
In response to weak client demand, Wells Fargo is shutting down its "dark pool" trading system, according to Reuters, citing a spokeswoman from the bank. The spokeswoman said that even though the firm will cease offering alternative trading access, it will still offer customers electronic trading tools. Reference Link
October 16, 2014
16:43 EDTWFCWells Fargo commercial banking veteran in Florida Howard Halle to retire
Wells Fargo head of Commercial Banking in Florida, Howard Halle, will retire at year-end. A search for Halle’s successor is underway and is expected to be announced in early November.
14:09 EDTWFCApple confirms October 20 start date for Apple Pay
Apple (AAPL) announced that customers can start making payments on Monday, October 20, when Apple Pay becomes available in the U.S. Users of the iPad Air 2 and iPad mini 3 will be able to use Touch ID on their devices for Apple Pay within apps. The new service will be enabled by a free software update to iOS 8. Apple Pay supports credit and debit cards from the three major payment networks: American Express (AXP), MasterCard (MA) and Visa (V). In addition to American Express, Bank of America (BAC), Capital One Bank (COF), Chase (JPM), Citi (C), Wells Fargo (WFC) and others, who announced support in September, more than 500 new banks from across the country have signed on to Apple Pay, the company said.
10:01 EDTWFCOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
09:01 EDTNNetSuite, Coupa announce strategic partnership
Coupa announced a strategic partnership with NetSuite to jointly promote and market the Coupa Cloud Procurement and Expense Management SuiteApp built for NetSuite to businesses seeking to transform their procurement and expense management processes.
07:31 EDTWFCWells Fargo upgraded to Buy from Hold at Argus
Argus upgraded Wells Fargo to Buy with a $54 price target based on valuation and high levels of profitability and returns.
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use