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Stock Market & Financial Investment News

News Breaks
August 14, 2014
12:30 EDTRRGB, NDLS, WMT, CSCO, OVTI, AAPOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory and have remained there throughout the morning. The averages have edged higher despite worse than expected U.S. jobless claims data, weak economic growth in Germany, and a lowered outlook from retail giant Wal-Mart (WMT). Each of the major indexes is drifting on light volume and the Dow, Nasdaq and S&P 500 are all higher by roughly 0.25%. ECONOMIC EVENTS: In the U.S., initial jobless claims rose to 311K in the second week of August, versus expectations for 295K claims. Import prices fell 0.2%, while export prices were flat in July. In Europe, growth in the shared currency zone stagnated, with Q2 GDP slipping to unchanged, while the biggest economy in the region, Germany, saw its GDP contract 0.2% in the quarter. COMPANY NEWS: Wal-Mart reported second quarter results that were in-line with expectations, but the world's largest retailer cut its fiscal year earnings outlook citing additional investments in e-commerce and higher U.S. health-care costs than previously anticipated. Despite the lowered guidance, the Dow member's shares were virtually unchanged near noon... Another member of the Dow, Cisco Systems (CSCO), was the the blue-chip average's laggard, falling nearly 3% after saying it does not expect emerging markets growth for "several quarters" and that it expects to cut 6,000 jobs, or 8% of its workforce. The move lower comes despite its report of higher than expected sales and profits for its fiscal fourth quarter and multiple Street research firms raising their price targets for Cisco's stock. MAJOR MOVERS: Among the notable gainers was OmniVision (OVTI), which rose 13% to trade near $28 per share after announcing its board has received a preliminary non-binding proposal from Hua Capital Management to acquire all of the outstanding shares of common stock of the company for $29.00 per share in cash. Also higher was Advance Auto Parts (AAP), which rose about 6% after the company reported higher than expected second quarter earnings and raised its fiscal year comparable cash EPS view. Among the noteworthy losers were casual dining companies Red Robin Gourmet Burgers (RRGB), which dropped 21%, and Noodles & Company (NDLS), which fell 20%, after both reported lower than anticipated second quarter results. INDEXES: Near midday, the Dow was up 38.74, or 0.23%, to 16,690.54, the Nasdaq was up 10.26, or 0.23%, to 4,444.39, and the S&P 500 was up 5.24, or 0.27%, to 1,951.96.
News For WMT;CSCO;OVTI;AAP;RRGB;NDLS From The Last 14 Days
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September 12, 2014
06:05 EDTCSCOCisco implied volatility of 14 at lower end of index mean range
05:51 EDTWMTStocks with implied volatility movement; XHB WMT
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September 11, 2014
12:52 EDTWMTWal-Mart to sell iPhones below suggested prices, Cnet reports
Wal-Mart will begin taking preorders for Apple's (AAPL) iPhone 6 and iPhone 6 Plus for $179 and $29 respectivelytomorrow, and customers who pre-order the iPhnoes will also receive a $15 e-gift card from Wal-Mart, Cnet reported last night. Apple had said it was selling the iPhones for $199 and $299. Reference Link
11:17 EDTCSCOEMC seen as potential target after said to mull VMware stake sale
EMC (EMC) is considering selling its 80% stake in cloud computing infrastructure provider VMware (VMW), The New York Post reported today, citing unnamed sources. Calling The New York Post "surprisingly accurate" on M&A news, UBS said the likelihood of change at EMC has increased and it has become a potential takeover target. WHAT'S NEW: EMC is exploring the possibility of selling its stake in VMware, which could be acquired by HP (HPQ), according to one source, The Post reported. EMC could also look to sell other assets, the newspaper quoted a second unnamed source as saying. ANALYST REACTION: UBS analyst Steven Milunovich wrote that he is more convinced in the wake of the Post story that "something is up" at EMC. Although EMC has denied in the past that it would consider selling or spinning off VMware, the company could change its tune, the analyst stated. HP could buy VMware or all of EMC, while Oracle (ORCL) and Cisco (CSCO) are also potential buyers of EMC, Milunovich believes.The analyst kept a $33 price target and Buy rating on shares of EMC. WHAT'S NOTABLE: Activist investor Elliott Management, a hedge fund, has taken a $1B stake in EMC and wants the company to spin off VMware, The Wall Street Journal reported in July. Early last month, research firm FBR Capital wrote that an EMC spin-off of VMware could enhance shareholder value for both companies and make VMware a top acquisition candidate by a larger technology company. The firm kept an Outperform rating on EMC at that time. PRICE ACTION: In late morning trading, EMC was little changed at $29.50, down from its earlier high of $29.89. VMware fell 0.7% to $96.75, down from its earlier daily high of $97.86.
07:13 EDTWMTSome retailers wary of Apple Pay platform, Reuters says
Apple (AAPL) Pay's success is dependent on incorporating more large retailers such as Wal-Mart (WMT) and Best Buy (BBY) into the service, but both retailers recently ceased accepting payments using NFC terminals, according to Reuters, citing comments from Best Buy spokesman Jeff Shelman. Shelman said, "At this point we have no plans to accept Apple Pay." Reference Link
September 10, 2014
10:00 EDTNDLSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: African Barrick Gold (ABGLY) upgraded to Neutral from Sell at Goldman... ArcelorMittal (MT) upgraded to Overweight from Underweight at Barclays... CRH Plc. (CRH) upgraded to Outperform from Underperform at Raymond James... Callon Petroleum (CPE) upgraded to Buy from Neutral at SunTrust... Coach (COH) upgraded to Overweight from Neutral at Atlantic Equities... Hartford Financial (HIG) upgraded to Outperform from Market Perform at FBR Capital... Huntsman (HUN) upgraded to Buy from Neutral at Citigroup... Imperva (IMPV) upgraded to Outperform from Perform at Oppenheimer... L Brands (LB) upgraded at Credit Suisse... Marcus (MCS) upgraded to Buy from Neutral at B. Riley... Noodles & Company (NDLS) upgraded to Buy from Neutral at UBS... Sunoco Logistics (SXL) upgraded to Overweight from Equal Weight at Barclays... Triangle Petroleum (TPLM) upgraded to Buy from Accumulate at KLR Group... Twitter (TWTR) upgraded to Buy from Neutral at UBS.
05:51 EDTNDLSNoodles & Company upgraded to Buy from Neutral at UBS
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September 9, 2014
07:17 EDTCSCOThe Wireless Association to hold a conference
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September 8, 2014
08:45 EDTCSCONimble Storage, Arista, CommVault recommnded on M&A at Pacific Crest
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September 5, 2014
10:50 EDTOVTIOptions with decreasing implied volatility
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08:21 EDTWMTWal-Mart seeks lower rent, more control with China mall, China Daily says
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September 4, 2014
15:26 EDTCSCOCisco UCS update further strengthens portfolio, says Cantor
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15:20 EDTCSCOCisco expands Unified Computing System portfolio
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11:54 EDTNDLSNoodles & Company management to meet with Jefferies
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10:59 EDTOVTIOptions with decreasing implied volatility
Options with decreasing implied volatility: BIG GES CONN PAY ANF CIEN SPLK OVTI WDAY NAV
10:32 EDTCSCOCisco, Red Hat expand relationship, launch solution for OpenStack
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September 3, 2014
11:42 EDTWMTWal-Mart de Mexico scales back 2014 store expansion plans, WSJ says
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07:43 EDTCSCODCP selcets Zix email encryption to replace Cisco
Zix Corporation (ZIXI) announces that DCP has switched its email encryption solution from Cisco’s (CSCO) IronPort Encryption Appliance to Zix Email Encryption in a new three-year contract. DCP is a holding company for Bank of Washington, Citizens National Bank and United Bank of Union, and all bank employees will now use ZixCorp to protect financial information in email.
September 2, 2014
13:04 EDTCSCOFinisar retreats after analyst cuts on pricing, demand worries
Shares of optical components maker Finisar (FNSR) are falling after research firm Jefferies downgraded the stock to Hold from Buy in a note to investors today, citing pricing and demand concerns. WHAT'S NEW: After conducting checks, Jefferies analyst James Kisner wrote that Finisar is facing "brutal" prices for datacom optics, particularly in China. Prices for telecom components in North America are also challenging for Finisar, he reported. Various low-cost competitors are driving down prices for datacom optics, while AT&T (T) is trying to force optical systems vendors to cut the prices of their components by 40%, Kisner stated. Meanwhile, demand for mobile backhaul optics slowed significantly in China over the last month, and two of Finisar's customers - Cisco (CSCO) and Huawei - are exploring alternatives to Finisar's products, Kisner indicated. Additionally, Intel (INTC) and numerous start-ups may launch products that will compete with those of Finisar, potentially cutting into its market share beginning in the second half of 2015, the analyst warned. He cut his price target on the shares to $19 from $25. PRICE ACTION: In early afternoon trading, Finisar slumped 5.5% to $19. Other optical components makers also dropped, with Oclaro (OCLR) falling 1% to $1.75 and JDS Uniphase (JDSU) losing 2% to $11.30.
10:45 EDTOVTIOmniVision volatility at record low
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