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Stock Market & Financial Investment News

News Breaks
June 24, 2014
12:25 EDTMEET, VRTX, WAG, GOOG, EIGI, MU, WWWWOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after reports on new home sales and consumer confidence both rose to their best levels in six years. The major averages began the day slightly below the flat-line but crossed into positive ground following the confidence and new home sales reports at 10 am ET, after which they found a level and have barely moved since. ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller index of property values in 20 cities for April had its smallest 12-month gain in more than a year, rising 10.8% from the same month of last year. However, a separate report showed that new home sales surged 18.6% in May to a 504K annual rate, beating expectations. The Conference Board's consumer confidence index climbed to 85.2 in June, beating expectations and hitting its highest level since 2008. The Richmond Fed manufacturing index dipped to 3 in June from 7 in both April and May. COMPANY NEWS: Shares of computer memory maker Micron Technology (MU) climbed 5% after the company's third quarter earnings per share and revenue surpassed analysts' expectations. Following its report and guidance last night, Needham upgraded Micron to Strong Buy from Buy and raised its price target for shares to $50 from $40, while analysts at Roth Capital, Jefferies, and JPMorgan also raised their price targets on the stock. Conversely, Walgreen (WAG) slipped 1% after its earnings missed expectations and it withdrew the FY16 goals the company had previously announced in 2012. Walgreen cited the consideration its board is making of the second step in its Alliance Boots strategic transaction as the reason for withdrawing the targets and said its expects to provide a new set of goals and metrics by late July or early August. MAJOR MOVERS: Among the notable gainers was Vertex Pharmaceuticals (VRTX), which was up about 40% after Phase 3 studies of its combination treatment for lung function in certain cystic fibrosis patients achieved their primary endpoint. Also higher was MeetMe (MEET), which rose 18% after the company announced that it set a new daily record for the number of user-to-user chats as more than 15 million chats were sent on a single day for the first time on its service. Among the noteworthy losers was Web.com (WWWW), which dropped 21% after Google (GOOG) entered the domain name market and announced that it would enable individuals and businesses to choose Internet addresses. Also lower following Google's entry into the domain name market was another company in the sector, Endurance (EIGI), which dropped more than 10%. INDEXES: Near midday, the Dow was up 12.00, or 0.07%, to 16,949.26, the Nasdaq was up 28.52, or 0.65%, to 4,397.19, and the S&P 500 was up 3.54, or 0.18%, to 1,966.15.
News For WWWW;GOOG;VRTX;MU;WAG;MEET;EIGI From The Last 14 Days
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November 19, 2014
10:42 EDTVRTXUBS hosts a conference call with Vertex Pharmaceuticals
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10:29 EDTGOOG, MUGoogle now top competitor to Apple, Jefferies says
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09:57 EDTGOOGGoogle management to meet with Piper Jaffray
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09:38 EDTGOOGCCS Insight predicts Netflix to be acquired next year, FT reports
CCS Insight, a U.K.-based technology research firm, is predicting that a major internet player such as Yahoo (YHOO), Alibaba (BABA) or Google (GOOG) will buy Netflix (NFLX) next year, reported Financial Times. Reference Link
08:02 EDTGOOGApple's top competition is Google, says Jefferies
Jefferies calls Google (GOOG) Apple's (AAPL) top competition after its analysis indicated that the search engine giant provides the majority of most popular Consumer Cloud Services, which it believes are expanding penetration through Android, Chrome, iOS, Windows and other devices. By contrast, Apple's iCloud remains focused on iOS devices, Jefferies points out. It keeps a Hold rating on Apple shares, saying Google dominates as provider of the most popular services, including Search, Maps, Chrome, and YouTube. To reflect positive supply chain data points, Jefferies raised its FY15 earnings estimate for Apple to $8.52 to $8.01. It also upped its price target for Apple shares to $120 from $112. The stock closed yesterday up $1.48 to $115.47.
07:52 EDTVRTXInforma Business Information to hold a conference
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07:27 EDTVRTXRoyalty Pharma acquires royalties on Vertex Pharmaceuticals CF treatments
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November 18, 2014
09:27 EDTGOOGGoogle's Q4 gross ad revenues tracking slightly ahead, says ITG Research
ITG Research said Google's Q4 gross ad revenue is tracking to $16.35B vs. consensus of $16.29B.
08:13 EDTMUMicron announces CFO Foster to retire in 2015
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06:08 EDTGOOGIntel's 'Mica' bracelet to feature Google alerts, AT&T data plan, Re/code says
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05:58 EDTMUMicron implied volatility of 32 at lower end of index mean range
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05:55 EDTWWWWWeb.com shares trading below fair value, says Piper Jaffray
Piper Jaffray attributes the 54% pullback in shares of Web.com since June to "overblown concerns" over competition from Google and other players. Piper sees a buying opportunity at current levels and believes shares are trading below fair value. It reiterates an Overweight rating on Web.com with a $25 price target.
November 17, 2014
09:36 EDTMUActive equity options trading
Active equity options trading according to Track Data: AAPL PBR BHI GILD MU HD AMZN TSLA YHOO FB TWTR
07:10 EDTEIGIEndurance reduces common stock offering to 13M shares from 15M shares
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06:23 EDTGOOGFacebook working on 'Facebook at Work' website, FT reports
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06:10 EDTGOOGGoogle partners with Telstra to test Project Loon in Australia, SMH reports
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06:08 EDTMUMicron implied volatility of 33 at lower end of index mean range
November 14, 2014
17:07 EDTGOOGSoros Fund Management gives quarterly update on stakes
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16:52 EDTMUGreenlight Capital gives quarterly update on stakes
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06:00 EDTGOOGGoogle to retire Google Wallet for digital goods API on March 2, 2015
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