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Stock Market & Financial Investment News

News For YELP;FB;ANGI;LNKD From The Last 14 Days
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May 5, 2015
06:19 EDTFBFacebook management to meet with Needham
Meeting to be held in Chicago on May 6 hosted by Needham.
05:58 EDTFBFacebook announces Internet.org Platform
Facebook yesterday introduced the Internet.org Platform, an open program for developers to easily create services that integrate with Internet.org. We’re also giving people more choice over the free basic services they can use. Facebook says, "Our goal with Internet.org is to work with as many developers and entrepreneurs as possible to extend the benefits of connectivity to diverse, local communities. To do this, we’re going to offer services through Internet.org in a way that’s more transparent and inclusive. At the core of our efforts with Internet.org are non-exclusive partnerships with mobile operators to offer free basic internet services to people through Internet.org. This is a set of basic websites and services to introduce people to the value of the internet, and that we hope add value to their lives."
May 4, 2015
19:50 EDTFBMeerkat livestreaming available on Facebook, Re/code says
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16:26 EDTFBOn The Fly: Top stock stories for Monday
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15:54 EDTFBFacebook tests Nokia 'HERE' map service, TechCrunch says
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14:39 EDTYELPYelp management to meet with MKM Partners
Meeting to be held in San Francisco on May 6 hosted by MKM Partners.
14:35 EDTLNKDLinkedIn management to meet with MKM Partners
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13:17 EDTFBOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after having opened in positive territory and showing little movement in the early half of the day. ECONOMIC EVENTS: In the U.S., factory orders climbed 2.1% in March, which was roughly in-line with expectations. The New York ISM current business conditions index jumped to 58.1 in April from a prior reading of 50. In China, the final Purchasing Managers’ Index from HSBC and Markit for April came in at 48.9, which was below the preliminary reading of 49.2 and missed the consensus forecast of 49.4. In Europe, Markit's purchasing managers index for the eurozone’s manufacturing sector fell to 52.0 in April from 52.2 in March. COMPANY NEWS: Dow Chemical (DOW) announced it will cut approximately 1,500-1,750 positions, or approximately 3% of its global workforce, as part of streamlining the organization ahead of the company’s pending separation of a significant portion of its chlorine value chain... McDonald's shares declined fractionally after the company revealed details about the initial steps of the company's turnaround plan. The company said it will restructure its business into four new segments, accelerate the pace of its refranchising and reach the top end of its 3-year $18B-$20B cash return to shareholders target by the end of 2016... Cisco (CSCO) announced that Chuck Robbins will take over as CEO and that John Chambers will assume the role of executive chairman on July 26... Disney (DIS) moved up its second quarter earnings release and conference call following the sudden death of David Goldberg, the CEO of SurveyMonkey and husband of Facebook (FB) COO and Disney Board member Sheryl Sandberg. MAJOR MOVERS: Among the notable gainers was Array BioPharma (ARRY), which rose more than 15% after the company reported on its quarterly results and provided pipeline updates for binimetinib and encorafenib. Also higher after its earnings report was BroadSoft (BSFT), which gained almost 15%. Among the noteworthy losers was Spark Therapeutics (ONCE), which fell 4% after the New England Journal of Medicine published a study that found gene therapy created by another company that previously helped restore sight in patients with a rare form of childhood blindness peaked one to three years after treatment and had diminished by six years. Also lower were shares of Pioneer Natural Resources (PXD), which were down about 3% in afternoon trading after David Einhorn of Greenlight Capital spoke cautiously about the company and the fracking space in general while presenting at the Ira Sohn investor conference. INDEXES: Near midday, the Dow was up 64.48, or 0.36%, to 18,088.54, the Nasdaq was up 19.74, or 0.39%, to 5,025.13, and the S&P 500 was up 7.62, or 0.36%, to 2,115.91.
10:31 EDTYELPOptions with decreasing implied volatility
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10:00 EDTLNKDOn The Fly: Analyst Upgrade Summary
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09:35 EDTLNKD, FBActive equity options trading on open
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08:51 EDTLNKDLinkedIn upgraded to Buy from Hold at Argus
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06:28 EDTLNKDStocks with implied volatility below IV index mean; LNKD NFLX
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06:09 EDTFB, LNKDInstagram taking bigger role in commercial real estate, WSJ reports
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May 3, 2015
17:47 EDTFBFacebook plans 'Instant Articles' service, offers increased ad revenue, WSJ says
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14:59 EDTFB, YELP, LNKDTwitter, LinkedIn, Yelp likely falling further, Barron's says
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May 1, 2015
16:31 EDTLNKD, YELPMarket ends week lower as Apple, Twitter pull back after earnings
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16:19 EDTLNKDOn The Fly: Top stock stories for Friday
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16:02 EDTLNKDOn The Fly: Morning Wrap-Up for May 1
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12:45 EDTLNKDOn The Fly: Top stock stories at midday
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11:35 EDTLNKDLinkedIn shares being treated like Twitter, but shouldn't be, analyst says
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10:32 EDTYELPOptions with decreasing implied volatility
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09:35 EDTFB, LNKDActive equity options trading on open
Active equity options trading on open: AAPL FB LNKD ALTR GILD TSLA BAC TWTR MSFT FEYE BIDU
09:21 EDTLNKDLinkedIn selloff overdone following earnings, guidance, says Cowen
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09:12 EDTLNKDOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Ocwen Financial (OCN), up 13.7%... Century Aluminum (CENX), Expedia (EXPE), up 6.1%... FireEye (FEYE), up 5.6%... Agnico Eagle Mines (AEM), up 3%... Gilead Sciences (GILD), up 2.9%... CVS Health (CVS), up 1.4%. ALSO HIGHER: EnerNOC (ENOC), up 26.5% after announcing collaboration with Tesla (TSLA)... Tesla up 1.2% after announcing Tesla Energy and partnerships... Cyberark (CYBR), up 2.9% after FireEye reported quarterly results... Cyberark (CY), up 2.5% after being upgraded to Strong Buy from Buy at Needham. DOWN AFTER EARNINGS: LinkedIn (LNKD), down 19.2%... Pixelworks (PXLW), down 7.5%... Cooper Tire (CTB), down 6.2%... JDS Uniphase (JDSU), down 3.2%... First Solar (FSLR), down 2.4%. ALSO LOWER: Tetralogic (TLOG), down 10.3% after 6.25M share Spot Secondary priced at $4.00.
09:01 EDTLNKDLinkedIn shares should be bought on weakness, says BMO Capital
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08:34 EDTLNKDMorgan Stanley says to buy LinkedIn on weakness
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08:23 EDTLNKDLinkedIn price target lowered to $250 from $300 at Stifel
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07:48 EDTLNKDLinkedIn buy thesis remains, but headwinds will weigh on shares, says UBS
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07:33 EDTLNKDLinkedIn price target lowered to $250 on Q1 miss at KeyBanc
KeyBanc lowered Overweight rated Linkedin's price target to $250 from $295 citing disappointing Q1 results and surprisingly weak EBITDA. The firm remains a buyer of LinkedIn and thinks Q2 could be another reset for the company.
06:58 EDTLNKDJPMorgan says buy the pullback in LinkedIn, keeps $300 target
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06:58 EDTLNKDLinkedIn price target lowered to $245 from $280 at Cantor
Cantor cut its price target on LinkedIn after the company reported in-line Q1 results but provided weaker than expected guidance. However, the firm remains upbeat on the the company's long-term outlook, due to what it sees as LinkedIn's unique franchise, large total available market, and attractive long-term value. The firm keeps a Buy rating on the shares.
06:42 EDTLNKDLinkedIn spending likely the right move, says Piper Jaffray
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05:54 EDTLNKDStocks with implied volatility above IV index mean; WFM LNKD
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05:47 EDTLNKDLinkedIn price target lowered to $172 from $208 at Brean Capital
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April 30, 2015
19:01 EDTLNKDOn The Fly: After Hours Movers
UP AFTER EARNINGS: Ellie Mae (ELLI), up 10%... Ocwen Financial (OCN), up 9%... athenahealth (ATHN), up 8.5%... Expedia (EXPE), up 4.5%... Skyworks Solutions (SWKS), up 3.7%... Eastman Chemical (EMN), up 2.4%... Nektar Therapeutics (NKTR), up 1.4%... FireEye (FEYE), up 2%. ALSO HIGHER: Monsanto (MON), up 3.6% following a Bloomberg report that the company approached Syngenta (SYT) about a takeover... Altera (ALTR), up 4.4% following a Reuters report that Intel (INTC) has a standstill pact set to end in June. DOWN AFTER EARNINGS: LinkedIn (LNKD), down 21.3%... Hutchinson Technology (HTCH), down 15.3%... Insulet (PODD), down 13.9%... Accuray (ARAY), down 14%... Constant Contact (CTCT), down 9.9%... Trimble Navigation (TRMB), down 6.6%... First Solar (FSLR), down 4.4%... JDS Uniphase (JDSU), down 3%... BioMarin (BMRN), down 1.8%... Visa (V), down 1.6%.
16:55 EDTYELPOn The Fly: Top stock stories for Thursday
Stocks on Wall Street opened lower and remained in negative territory throughout the day. The market received little help from better than expected data on jobless claims and personal income and spending reports. The market moved in a fairly narrow range for most of the day, albeit at sharply lower levels. ECONOMIC EVENTS: In the U.S., initial jobless claims slid 34K to 262K in the week ended April 25, versus expectations for 290K first time claims. Personal income was unchanged in March, versus expectations for a 0.2% increase, while consumer spending rose 0.4%, versus expectations for a 0.5% increase. The Chicago PMI rose 6.0 points to 52.3 in April, which was better than the expected 50.0 reading. COMPANY NEWS: Shares of Apple (AAPL) slid $3.49, or 2.71%, to $125.15 after The Wall Street Journal reported after the market close yesterday that the company was forced to limit production of its Apple Watch after a part involved in the watch's taptic engine supplied by AAC Technologies was shown to break down over time, forcing the company to shift to the use of a part produced by a second supplier. Apple has moved almost all of its production of the part to Nidec, but the Japanese supplier may take time to ramp up production, the report noted. MAJOR MOVERS: Among the notable gainers was Glu Mobile (GLUU), which jumped $1.36, or 25.19%, to $6.76 after the social game maker reported better than expected first quarter results, announced a game development deal with Britney Spears and said Tencent Holdings (TCEHY) had agreed to buy a stake in the company. Also higher was ClickSoftware (CKSW), which gained $2.60, or 26.48%, to $12.42 after agreeing to be acquired by private funds managed by Francisco Partners Management in an all-cash transaction valued at approximately $438M. Under the terms of the agreement, Francisco Partners will acquire all of ClickSoftware's outstanding ordinary shares for $12.65 per share in cash. Among the noteworthy losers was Yelp (YELP), which dropped $11.89, or 23.19%, to $39.39 after reporting lower than expected Q1 revenue and giving worse than expected revenue guidance, resulting in downgrades by at least four firms this morning. Also lower were shares of CTC Media (CTCM), which fell $77c, or 18.08%, to $3.49 after the company reported its first quarter results and said it will not to declare a dividend in Q2 to "preserve the financial and strategic flexibility" of the company. INDEXES: The Dow fell 195.01, or 1.08%, to 17,840.52, the Nasdaq lost 82.22, or 1.64%, to 4,941.42, and the S&P 500 declined 21.34, or 1.01%, to 2,085.51.
16:19 EDTLNKDLinkedIn drops through support on weaker outlook
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16:08 EDTLNKDLinkedIn notes 'several important strategic investments'
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16:07 EDTLNKDLinkedIn says unique visiting members from mobile surpassed 50%
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16:06 EDTLNKDLinkedIn drops $47.14 to $204.99 after outlook misses estimates
16:05 EDTLNKDLinkedIn reports Q1 Talent Solutions revenue up 36% to $396M
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16:04 EDTLNKDLinkedIn sees 2015 EPS $1.90, consensus $3.03
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16:04 EDTLNKDLinkedIn sees Q2 EPS 28c, consensus 74c
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16:03 EDTLNKDLinkedIn reports Q1 EPS 57c, consensus 56c
Reports Q1 revenue $638M, consensus $636.48M.
16:01 EDTFBOptions Update; April 30, 2015
iPath S&P 500 VIX Short-Term Futures up 60c to 21.84. Option volume leaders: AAPL TSLA TWTR GILD FB AMZN CELG VZ KMI according to Track Data.
15:01 EDTLNKDNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Visa (V), consensus 62c... Gilead Sciences (GILD), consensus $2.32... American International (AIG), consensus $1.19... Public Storage (PSA), consensus $1.93... LinkedIn (LNKD), consensus 56c... BioMarin Pharmaceutical (BMRN), consensus (53c)... Expedia (EXPE), consensus 9c... Skyworks Solutions (SWKS), consensus $1.13... FleetCor (FLT), consensus $1.40... Eastman Chemical (EMN), consensus $1.60... Western Union (WU), consensus 38c... Fluor (FLR), consensus 98c... Fortune Brands Home & Security (FBHS), consensus 32c... Envision Healthcare (EVHC), consensus 26c... Agnico Eagle Mines (AEM), consensus 10c... FireEye (FEYE), consensus (51c)... Trimble Navigation (TRMB), consensus 30c... PerkinElmer (PKI), consensus 46c... Genpact (G), consensus 25c... athenahealth (ATHN), consensus 14c... Seattle Genetics (SGEN), consensus (19c)... HEALTHSOUTH (HLS), consensus 56c... Teradyne (TER), consensus 12c... Superior Energy (SPN), consensus (5c)... Eldorado Gold (EGO), consensus 2c... Regal Entertainment (RGC), consensus 12c... JDS Uniphase (JDSU), consensus 9c... MRC Global (MRC), consensus 18c... Boyd Gaming (BYD), consensus 9c... Ruckus Wireless (RKUS), consensus 8c... Cloud Peak Energy (CLD), consensus (12c).
14:46 EDTLNKDLinkedin May 252 weekly straddle priced for 8.4% movement into Q1
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13:47 EDTLNKDLinkedIn technical comments ahead of earnings, conflicting patterns
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12:50 EDTYELPYelp breaks support at $40
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12:46 EDTLNKDEarnings Watch: Analysts positive on LinkedIn ahead of Q1 earnings report
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12:41 EDTYELPYelp revenue guidance miss prompts steep drop, multiple downgrades
The shares of Yelp (YELP) are plunging after the company reported lower than expected revenue and provided lower than expected fiscal 2015 revenue guidance. Analysts disagreed on the outlook for Yelp following the results, with a number of them recommending buying the shares on weakness and others taking a more negative view of the stock. BULLISH TAKE: Oppenheimer analyst Jason Helfstein recommended buying Yelp on weakness. Yelp's local sales jumped 51% year-over-year, indicating that the company can effectively leverage its sales force, which grew 25%, the analyst stated. Moreover, the company is poised to capitalize on its first mover advantage in U.S. online local businesses, Helfstein believes. The stock's valuation should increase as the company's margins expand, the analyst stated. He cut his price target on the name to $60 from $76 but kept an Outperform rating on the stock. Long-term investors should buy Yelp on weakness, wrote Piper Jaffray analyst Gene Munster. The shares are likely to be range bound over the next three months, the analyst predicted. However, Yelp's core asset is intact, as the growth in the number of reviews on its website accelerated from 35% in March 2014 to 41% in March 2015, according to Munster. He kept a $70 price target and Overweight rating on the shares. BEARISH TAKE: RBC Capital analyst Mark Mahaney downgraded Yelp to Sector Perform from Outperform, saying that the company's Q1 results were "very negative." Yelp's Q2 guidance indicates that its business will continue to decelerate, according to Mahaney, who cut his price target on the name to $50 from $82. Yelp's Q1 results came in well below the expectations of Pacific Crest's Evan Wilson, who said the slowdown in the company's ad sales and user growth makes its guidance for revenue acceleration in the second half of the year less credible. He kept a Sector Weight rating on the shares. PRICE ACTION: In early afternoon trading, Yelp plunged 23% to $39.50.
12:27 EDTYELPOn The Fly: Top stock stories at midday
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10:36 EDTYELPOn The Fly: Analyst Downgrade Summary
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10:20 EDTLNKDLinkedin May weekly volatility elevated into Q1 and outlook
Linkedin May weekly call option implied volatility is at 198, May is at 52, June is at 39, August is at 37; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement into the expected release of Q1 results today.
09:34 EDTFBActive equity options trading on open
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09:18 EDTYELPOn The Fly: Pre-market Movers.
UP AFTER EARNINGS: Glu Mobile (GLUU), up 28.2% after reporting first quarter results and deals with Tencent and Britney Spears... Civeo (CVEO), up 3.05... TASER (TASR), up 9.6%... Virgin America (VA), up 2.7%... Noble Corp (NE), up 1.8%... Statoil (STO), up 2.8%... Alpha Natural (ANR), up 3.6%... Exxon Mobil (XOM), up 1.4%... Phillips 66 (PSX), up 1.2%... NXP Semiconductors (NXPI), up 2.4%. ALSO HIGHER: Clicksoftware (CKSW), up 27.8% after being acquired by Francisco Partners... JetBlue (JBLU), up 1.4% after being upgraded to Outperform from Neutral at Credit Suisse... WuXi PharmaTech (WX), up 16.5% after receiving going private proposal. DOWN AFTER EARNINGS: Yelp (YELP), down 17.1%... Celgene (CELG), down 2.4%... STMicroelectronics (STM), down 11.4%... Harman International (HAR), down 9%... Potash (POT), down 2.4%... Generac (GNRC), down 7%... Nokia (NOK), down 8.7%... Baidu (BIDU), down 2.6%. ALSO LOWER: Inovio Pharmaceuticals (INO), down 18.1% after 9.5M share Spot Secondary priced at $8.00... Miller Energy (MILL), down 9% after receiving 'Wells Notice'... Scorpio Tankers (STNG), down 7.5% after 15M share Spot Secondary priced at $9.30... Advaxis (ADXS), down 6% after 2.8M share Spot Secondary priced at $19.00.
09:14 EDTYELPOn The Fly: Pre-market Movers.
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09:08 EDTYELPYelp results make guidance look more difficult to achieve, says Pacific Crest
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08:34 EDTYELPYelp downgraded to Neutral from Buy at Sterne Agee CRT
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08:31 EDTYELPYelp shares should be bought on weakness, says Oppenheimer
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07:55 EDTYELPYelp weakness a buying opportunity, says Brean Capital
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07:21 EDTYELPYelp downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill downgraded Yelp to Neutral and lowered its price target to $55 from $65 following disappointing Q1 results driven by brand revenue miss and sales force execution. The firm now longer views Yelp as a raise and beat story and 2015 revenue estimate below guidance. Shares were also downgraded at Northland and RBC Capital this morning.
07:01 EDTYELPYelp downgraded to Underperform from Market Perform at Northland
Northland downgraded Yelp to Underperform and reduced its price target to $35 following the weaker than expected Q1 report and guidance. Shares were also downgraded at RBC Capital this morning to Sector Perform.
06:43 EDTYELPYelp price target lowered to $68 from $78 at Cantor
Cantor cut its price target on Yelp after the company reported weaker than expected Q1 results. However, the firm says that the company has taken actions to improve its business, and the firm believes that the company's long-term local online opportunity remains sizable. Cantor keeps a Buy rating on the shares.
06:37 EDTYELPYelp Q1 results 'not all that bad,' says Citigroup
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06:14 EDTYELPYelp a buy on weakness for long-term investors, says Piper Jaffray
Piper Jaffray analyst Gene Munster recommends long-term investors use the post-earnings pullback in shares of Yelp as a buying opportunity. Munster expects shares to be range-bound over the next three months but believes the company's core asset is intact, with review growth accelerating from 35% in March 2014 to 41% in March 2015. He keeps an Overweight rating on Yelp with a $70 price target. RBC Capital this morning downgraded Yelp to Sector Perform.
05:50 EDTYELPStocks with implied volatility above IV index mean; GRPN YELP
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05:49 EDTYELPYelp downgraded to Sector Perform from Outperform at RBC Capital
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April 29, 2015
19:09 EDTYELPOn The Fly: After Hours Movers
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18:58 EDTYELPYelp reports 'much higher' user engagement as customers shift to mobile
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17:51 EDTYELPYelp reports Q1 adjusted EBITDA $16.3M
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17:50 EDTYELPYelp CFO says delivered topline growth of 55% in Q1
"We delivered topline growth of 55% year over year," added Rob Krolik, Yelp's CFO. "Local businesses are increasingly adopting performance-based advertising, and in the first quarter, cost-per-click advertisers represented approximately 40% of local advertising revenue, an increase from 32% in the fourth quarter of 2014. With 92% growth in adjusted EBITDA year over year, we continue to show operating leverage in the business and look forward to growing the business through the rest of the year."
16:10 EDTYELPYelp down 13% following Q1 results, guidance
16:09 EDTYELPYelp reports Q1 EPS (2c), consensus 1c
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16:09 EDTYELPYelp reports Q1 cumulative reviews grew 36% to approximately 77M
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16:07 EDTYELPYelp sees FY15 revenue $574M-$579M, consensus $579.21M
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16:06 EDTYELPYelp sees Q2 revenue $131M-$134M, consensus $138.42M
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16:05 EDTYELPYelp reports Q1 adjusted EPS 10, consensus 1c
Reports Q1 revenue $118.5M, consensus $119.98M.
16:01 EDTFBOptions Update; April 29, 2015
iPath S&P 500 VIX Short-Term Futures up 47c to 21.24 Option volume leaders: AAPL TSLA TWTR GILD FB AMZN C MCD BAC CRM BIDU WYNN according to Track Data.
15:00 EDTYELPNotable companies reporting after market close
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13:02 EDTYELPYelp technical notes ahead of earnings
Ahead of earnings the shares have been in a shallow recovery uptrend which is working back into a bearish gap down from early February. If the news continues to be bullish, next resistance will be at $52.47, $56.08 which is the top of the bearish gap, and $57.70. The $60 area would be a potential extreme upside objective, but has proved to be significant resistance. If the news is bearish, the first important level of support would be at the 50-day moving average at $47.61. A move down to that moving average would signal a resumption of the dominant downtrend. Support below the 50-day would be at $45.09 and then at the 52-week low at $42.10. The $40 area has been support in the past and might hold even on an extreme negative reaction.
09:40 EDTFBActive equity options trading on open
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06:07 EDTLNKDStocks with implied volatility above IV index mean; GRPN LNKD
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06:06 EDTFBFacebook official: European regulation would pose 'serious' obstacles, FT says
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April 28, 2015
09:36 EDTFBActive equity options trading on open
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06:02 EDTLNKDStocks with implied volatility above IV index mean; LNKD TWTR
Stocks with implied volatility above IV index mean; LinkedIn (LNKD) 44, Twitter (TWTR) 58 according to iVolatility.
April 27, 2015
14:44 EDTFBFacebook introduces video calling in Messenger
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13:42 EDTYELPYelp volatility elevated into Q1 and outlook
Yelp May weekly call option implied volatility is at 143, May is at 71, June is at 55, August is at 48; compared to its 26-week average of 49 according to Track Data, suggesting large price movement into the expected release of Q1 results on April 29.
13:36 EDTFBFacebook engineering director to leave company, TechCrunch reports
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April 24, 2015
09:37 EDTFBActive equity options trading on open
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06:16 EDTFBEU considers new regulator to oversee internet companies, WSJ reports
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05:58 EDTFBFacebook implied volatility of 24 at lower end of index mean range
April 23, 2015
14:29 EDTFBFacebook launches video ad partnership featuring Vice, The Onion, Funny or Die
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10:55 EDTFBPac Crest an outlier with bearish note on Facebook following Q1 report
After Facebook last night reported higher than expected first quarter profits but lower than expected revenue. several analysts reacted positively to the company's results, raising their price targets on the social network operator's stock. However, Pacific Crest went against the mostly bullish trend by recommending that investors avoid the stock. WHAT'S NEW: Facebook last night reported first quarter earnings per share of 42c, versus the consensus outlook of 40c. The social network operator's revenue came in below expectations, and the company said that foreign exchange trends negatively impacted its first quarter results. Facebook forecast that foreign exchange headwinds would increase this quarter. Facebook reported that it had 936M daily active users on average last month, an increase of 17% versus the same period a year earlier. Its monthly active users climbed 13% year-over-year to 1.44B in Q1. BULLISH TAKE: Adjusting for currency, Facebook's Q1 revenue would have been 3% higher than the Street's consensus outlook, Piper Jaffray analyst Gene Munster stated. The online network's "story is firmly intact" as its results are likely to be boosted by the ramping of Instagram in 2016, WhatsApp in 2017 and Oculus in 2018, the analyst stated. He kept a $92 price target and Buy rating on the shares. Also upbeat was Deutsche Bank analyst Ross Sandler, who raised his price target on the stock to $100 from $90, saying that its currency headwinds "masked" strong Q1 results. The stock will "grind higher" on new revenue streams and product announcements, predicted Sandler, who kept a Buy rating on the shares. JPMorgan analyst Doug Anmuth raised his price target on the stock to $100 from $85, saying that the company reported strong Q1 results and that it is the best positioned Internet company over the next five years. Moreover, its video ads appear to be hitting a positive turning point, added Anmuth, who kept an Overweight rating on the name. BEARISH TAKE: Facebook's price per ad appears to have declined sequentially last quarter for the first time since early 2013, wrote Pacific Crest analyst Evan Wilson. If that trend continues, its price per ad growth will decelerate significantly this year, according to the analyst. Additionally, the company's margins are contracting and its new products are unlikely to make much of an impact this year, according to Wilson, who recommended that investors choose other stocks over Facebook. PRICE ACTION: In mid-morning trading, Facebook slid 0.7% to $84 per share.
10:12 EDTANGIAngie's List falls, levels to watch
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10:07 EDTANGIFollow-up: Angie's List downgraded at Northland
As previously reported, Northland downgraded Angie's List to Underperform from Market Perform. The firm said Angie's List reported mixed Q1 sales and decelerating growth and believes the company will ultimately have to spend more on marketing to sustain its member base. Price target lowered to $5.50 from $7.50.
10:00 EDTANGIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ADTRAN (ADTN) downgraded to Hold from Buy at Needham... Angie's List (ANGI) downgraded to Underperform from Market Perform at Northland... BG Group (BRGYY) downgraded to Hold from Overweight at HSBC... Brink's (BCO) downgraded to Neutral, sees 'imminent' downside risk, says Macquarie... Citrix (CTXS) downgraded to Hold from Buy at Evercore ISI... Cognex (CGNX) downgraded to Perform from Outperform at Oppenheimer... Cytec Industries (CYT) downgraded to Equal-Weight from Overweight at First Analysis... Enbridge (ENB) downgraded to Neutral from Outperform at Credit Suisse... Ensco (ESV) downgraded to Underweight from Equal Weight at Morgan Stanley... F5 Networks (FFIV) downgraded to Neutral from Buy at MKM Partners... Fulton Financial (FULT) downgraded to Market Perform from Outperform at Keefe Bruyette... Halcon Resources (HK) downgraded to Neutral from Outperform at Baird... Heartland Express (HTLD) downgraded on limited earnings growth at Raymond James... Informatica (INFA) downgraded to Market Perform from Outperform at JMP Securities... Knight Transportation (KNX) downgraded to Outperform from Strong Buy at Raymond James... LegacyTexas Financial (LTXB) downgraded to Outperform from Strong Buy at Raymond James... Masco (MAS) downgraded to Neutral from Buy at Citigroup... MobileIron (MOBL) downgraded to Equal Weight from Overweight at Morgan Stanley... Noble Corp. (NE) downgraded to Underweight from Equal Weight at Morgan Stanley... Omnicare (OCR) downgraded to Neutral from Outperform at Credit Suisse... Owens Corning (OC) downgraded to Sell from Neutral at Citigroup... Qualcomm (QCOM) downgraded to Neutral from Outperform at Exane BNP Paribas... RAM Energy (RAME) downgraded to Neutral from Outperform at Baird... Repsol (REPYY) downgraded to Reduce from Hold at HSBC... Stillwater Mining (SWC) downgraded on lack of catalysts at BB&T... Texas Capital (TCBI) downgraded to Outperform from Strong Buy at Raymond James... Texas Instruments (TXN) downgraded to Neutral from Buy at BofA/Merrill... Total (TOT) downgraded to Hold from Buy at Deutsche Bank... Transocean (RIG) downgraded to Underweight from Equal Weight at Morgan Stanley.
09:35 EDTFBActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL FB PBR TWTR AA COST TSLA AMZN TXN BAC
08:27 EDTFBFacebook growth slowing, margins contracting, says Pacific Crest
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08:23 EDTFBFacebook reported solid results, says Brean Capital
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08:11 EDTFBFacebook price target raised to $94 from $84 at FBR Capital
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07:45 EDTFBFacebook price target raised to $100 from $85 at JPMorgan
JPMorgan raised its price target for Facebook shares to $100 saying the company posted strong Q1 results despite a challenging currency environment. The firm highlights Facebook's growth in organic and promoted video views as well as its better ad targeting and measurement tools. JPMorgan continues to view Facebook as the best positioned company in the internet space over the next five years. It keeps an Overweight rating on the stock.
07:28 EDTFBFacebook price target raised to $105 from $88 at RBC Capital
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07:22 EDTFBFacebook thesis strengthened, says Credit Suisse
Credit Suisse said Facebook remains a top pick for 2015 and that its in-line quarter strengthened the firm's Outperform thesis. The firm said the quarter reaffirmed its conviction that Facebook will be able to drive revenue growth without a material increase in ad loads, consensus estimates underestimate long-term monetization potential of new products, and upward bias to estimates from Offers/Local, Instagram, WhatsApp, Oculus, and others. Credit Suisse's price target on Facebook remains $106.
07:21 EDTANGIAngie's List downgraded to Underperform from Market Perform at Northland
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07:17 EDTFBFacebook price target raised to $100 from $90 at Deutsche Bank
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06:48 EDTFBFacebook reported strong Q1 results, says Cantor
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05:49 EDTFBFacebook Q1 sales a 3% beat ex-currency, says Piper Jaffray
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April 22, 2015
19:14 EDTFBOn The Fly: After Hours Movers
UP AFTER EARNINGS: Select Comfort (SCSS), up 3.3%... Alliance Fiber Optic (AFOP), up 6.9%... eBay (EBAY), up 6.2%... Cheesecake Factory (CAKE), up 5.6%... O'Reilly Automotive (ORLY), up 3.8%... Corelogic (CLGX), up 3.2%... Skechers (SKX), up 2.5%... AT&T (T), up 1.3%. ALSO HIGHER: ARRIS Group (ARRS), up 24.9% after acquiring Pace plc. for $2.1B in cash and stock... Esperion Therapeutics (ESPR), up 2.5% after being initiated with an Outperform at RBC Capital... Uniqure (QURE), up 3.7% after being initiated with an Outperform at BMO Capital. DOWN AFTER EARNINGS: Texas Instruments (TXN), down 6.7%... Las Vegas Sands (LVS), down 4.2%... Oceaneering International (OII), down 3.7%... F5 Networks (FFIV), down 2.8%... Xilinx (XLNX), down 3.3%... Qualcomm (QCOM), down 3%... Facebook (FB), down 2.2%... Tractor Supply (TSCO), down 3.1%. ALSO LOWER: Noble Corp (NE), down 1.2% after being downgraded to Underweight from Equal Weight at Morgan Stanley.
17:32 EDTFBFacebook sees total payments and other fees revenue to decline
Facebook sees total payments and other fees revenue to decline on a year-over year basis for the remainder of the year. Sees FY15 CapEx $2.7B-$$3.2B.
17:23 EDTFBNokia approaches Apple, Amazon, Facebook in sale of maps unit, Bloomberg says
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17:22 EDTFBFacebook says FX headwinds in Q2 will be greater than Q1
17:20 EDTFBFacebook says Q1 Non-Gaap expense increased 57%
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17:18 EDTFBFacebook says FX headwinds impacted Q1 revenue
17:14 EDTFBFacebook sees videos attracting marketers to mobile
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17:11 EDTFBFacebook says Instagram has more than 200M daily users
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16:03 EDTFBFacebook down $1.20 to $83.43 after Q1 results
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16:02 EDTFBFacebook reports Q1 daily active users up 17%
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16:01 EDTFBFacebook reports Q1 EPS 42c, consensus 40c
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16:00 EDTFBOptions Update; April 22, 2015
iPath S&P 500 VIX Short-Term Futures down 22c to 21.30. Option volume leaders: AAPL TSLA TWTR MCD FB PBR AMZN KMI MYL C according to Track Data.
15:30 EDTFBNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include eBay (EBAY), consensus 70c... Facebook (FB), consensus 40c... Texas Instruments (TXN), consensus 62c... Las Vegas Sands (LVS), consensus 72c... Qualcomm (QCOM), consensus $1.33... AT&T (T), consensus 62c... F5 Networks (FFIV), consensus $1.50... Plexus (PLXS), consensus 69c... Skechers (SKX), consensus $1.01... Select Comfort (SCSS), consensus 41c... Tractor Supply (TSCO), consensus 41c... Covanta (CVA), consensus (8c)... Crown Castle (CCI), consensus $1.09... Torchmark (TMK), consensus $1.05... Ameriprise (AMP), consensus $2.33... Polycom (PLCM), consensus 21c... Citrix (CTXS), consensus 65c... Core Laboratories (CLB), consensus 85c... Graco (GGG), consensus 78c... Cheesecake Factory (CAKE), consensus 48c... Equifax (EFX), consensus $1.02... SLM (SLM), consensus 7c... Xilinx (XLNX), consensus 50c... O'Reilly Automotive (ORLY), consensus $1.94... Susquehanna (SUSQ), consensus 18c... Raymond James (RJF), consensus 83c... SL Green Realty (SLG), consensus $1.49... CoreLogic (CLGX), consensus 31c... Oceaneering (OII), consensus 62c... Valmont (VMI), consensus $1.49... Brandywine Realty (BDN), consensus 32c... Weatherford (WFT), consensus 1c.
15:04 EDTANGIAngie's List competitive threats could cap multiple, says Piper Jaffray
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13:51 EDTFBEarnings Watch: Analysts expect Facebook to beat Q1 expectations
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13:28 EDTFBFacebook April weekly 84 straddle priced for 5.4% movement into Q1
13:01 EDTFBFacebook technical comments ahead of results
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12:31 EDTANGIOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after having been on a bit of a see-saw during morning trading. The averages opened in positive territory, soon turned negative, then back into positive ground following the release of a better than expected existing home sales report. The housing data was followed by a lift in the averages, which remained in positive ground near noon. ECONOMIC EVENTS: In the U.S., existing home sales rose 6.1% to a 5.19M rate in March, which was better than the expected 3.1% increase to a rate of 5.03M. Crude oil inventories built up by 5.32M barrels last week, which was more than the consensus forecast for a 3.2M barrel build. In Asia, Japan's Nikkei 225 average closed above 20,000 for the first time since April 2000. In Europe, Germany raised its economic growth forecast for 2015 to 1.8%, which was up from the 1.5% growth it said it expected in January. COMPANY NEWS: Shares of McDonald's (MCD) advanced 2% after the company reported headline earnings that missed expectations but also said it is developing a turnaround plan to improve its performance and deliver "enduring profitable growth" that it plans to share in the first week of May. Also rising after its quarterly report was another globally recognized brand, Coca-Cola (KO), whose shares gained 1% after its comparable earnings per share topped the consensus estimate. A third member of the Dow, Boeing (BA), slid over 2.5% after its earnings beat expectations but its revenue fell short of the consensus forecast... Visa (V) rose 5% and MasterCard (MA) advanced over 4% after China's State Council announced overnight that the country will regulate the market access for bankcard transaction clearing institutions, which analysts think might allow both companies to compete for the processing of domestic transactions in the country. MAJOR MOVERS: Among the notable gainers was Angie's List (ANGI), which jumped 12% after the company reported it was profitable in the first quarter and announced an exclusive relationship that will see carpet manufacturer Shaw Industries give the company's members exclusive product offers. Also higher was ASML (ASML), which gained 11% after announcing that it has signed an agreement with one of its "major U.S. customers" to deliver a minimum of 15 ASML EUV, or Extreme Ultraviolet, lithography systems. Afterward, Summit Research said it thinks the most likely buyer is Intel (INTC), which the firm believes does not want to be left behind if TSMC (TSM) puts EUV to use in 10nm processing. Among the noteworthy losers was Natural Resource Partners (NRP), which dropped 19% after the company slashed its quarterly distribution by 75% to 9c per unit. Also lower following their earnings reports were ADTRAN (ADTN), which fell over 9%, Cree (CREE), which slid 9%, and Chipotle Mexican Grill (CMG), which declined 6%. INDEXES: Near midday, the Dow was up 28.69, or 0.16%, to 17,978.28, the Nasdaq was up 6.66, or 0.13%, to 5,020.77, and the S&P 500 was up 5.24, or 0.25%, to 2,102.53.
09:22 EDTANGIOn The Fly: Pre-market Movers
UP AFTER EARNINGS: CalAmp (CAMP), up 12.7%... Angie's List (ANGI), up 17.4%... Broadcom (BRCM), up 6.3%... Owens Corning (OC), up 3.8%... Yum! Brands (YUM), up 3.3%... Dolby Laboratories (DLB), up 3.6%... Infinera (INFN), up 2.4%... AutoNation (AN), up 2.5%... Amgen (AMGN), up 3.1%... Coca-Cola (KO), up 2%. ALSO HIGHER: Procera Networks (PKT) up 10.4% after being acquired by Francisco Partners in deal valued at $240M... Organovo (ONVO), up 19.2% after entering into a collaboration agreement with Merck Sharp and Dohme... Vical (VICL), up 5.8% after being awarded $4M contract to manufacture HIV vaccines for clinical evaluation... CTI BioPharma (CTIC), up 4.9% after announcing that Phase 3 pacritinib data will be highlighted in a late-breaking oral presentation at ASCO meeting. DOWN AFTER EARNINGS: Chipotle Mexican Grill (CMG), down 5.2%... iRobot (IRBT), down 3.6%... Cree (CREE), down 3.5%... United Rentals (URI), down 4%... Super Micro Computer (SMC), down 2.3%... Thermo Fisher (TMO), down 2.6%. ALSO LOWER: Natural Resource Partners (NRP), down 14% after reducing quarterly distribution 75% to 9c per unit... Trinity Industries (TRN), down 3.5% following a Bloomberg report that the Justice Department has initiated a criminal investigation into Trinity guardrails.
09:14 EDTANGIAngie's List spikes higher on stronger than expected earnings
In the pre-market shares are up 17.4% to $7.22 following stronger results than forecast. At that price resistance is at $7.56 and then at $7.80. Support is at $7.
07:11 EDTYELPYelp price target raised to $58 from $50 at Brean Capital
Brean Capital raised its price target on Yelp to $58 from $50 heading into Q1 results. The firm sees potential for upside from its marketing, mobile, sales force, and Yelp platform efforts. Brean Capital reiterated its Buy rating on Yelp shares.
07:10 EDTFBFacebook volatility increases into Q1 and outlook
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07:03 EDTANGIAngie's List sees FY15 revenue $357M-$363M, consensus $359.62M
Sees FY15 adjusted EBITDA $30M-$32M.
07:02 EDTANGIAngie's List reports Q1 EPS 7c, consensus 0c
Reports Q1 revenue $83.5M, consensus $84.69M. Reports total paid memberships at March 31 of 3.1M, up 18% from last year.
06:33 EDTANGIAngie's List signs exclusive relationship with Shaw Industries
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06:06 EDTFBGoogle, Facebook seek to reach billions of people without Web access, WSJ says
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April 21, 2015
19:48 EDTLNKDLinkedIn files patent for fact-checking system
LinkedIn has filed a patent for a fact-checking system. According to the filing, the system will compare information from the user to "one or more sources." Reference Link
16:00 EDTFBOptions Update; April 21, 2015
iPath S&P 500 VIX Short-Term Futures down 1c to 21.53 Option volume leaders: AAPL TSLA TWTR GILD FB PBR AMZN C KMI KO VZ MCD according to Track Data.
15:28 EDTANGINotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Coca-Cola (KO), consensus 42c... Boeing (BA), consensus $1.81... McDonald's (MCD), consensus $1.06... EMC (EMC), consensus 36c... Abbott Laboratories (ABT), consensus 42c... Thermo Fisher Scientific (TMO), consensus $1.61... Bank of New York Mellon (BK), consensus 59c... TE Connectivity (TEL), consensus $1.01... T. Rowe Price Group (TROW), consensus $1.14... St. Jude Medical (STJ), consensus 91c... Amphenol (APH), consensus 56c... Nielsen (NLSN), consensus 47c... Citizens Financial Group (CFG), consensus 34c... Autoliv (ALV), consensus $1.31... D.R. Horton (DHI), consensus 38c... Westinghouse Air Brake Technologies (WAB), consensus 95c... Huntington Bancshares (HBAN), consensus 19c... SEI Investments (SEIC), consensus 49c... AutoNation (AN), consensus 89c... Gentex (GNTX), consensus 25c... Ryder System (R), consensus $1.00... Owens Corning (OC), consensus 13c... NuStar Energy (NS), consensus 58c... Six Flags (SIX), consensus (67c)... Tupperware Brands (TUP), consensus 98c... MarketAxess Holdings (MKTX), consensus 64c... Lithia Motors (LAD), consensus $1.22... Knight Transportation (KNX), consensus 31c... Evercore Partners (EVR), consensus 58c... Potlatch (PCH), consensus 19c... Natus Medical (BABY), consensus 29c... AZZ (AZZ), consensus 59c... United Community Banks (UCBI), consensus 29c... Sonus Networks (SONS), consensus (31c)... Angie's List (ANGI), consensus 0c... Pacific Premier Bancorp (PPBI), consensus 27c.
10:01 EDTFBOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Agios Pharmaceuticals (AGIO) initiated with a Perform at Oppenheimer... Bed Bath & Beyond (BBBY) initiated with a Buy at Cantor... BioCryst (BCRX) initiated with an Outperform at FBR... Bovie Medical (BVX) initiated with an Outperform at JMP Securities... Calavo Growers (CVGW) initiated with a Buy at Janney Capital... Clorox (CLX) initiated with a Sector Weight at KeyBanc... Coach (COH) initiated with a Sell, $32 target at Cantor... Compugen (CGEN) initiated with an Outperform at Oppenheimer... Corcept Therapeutics (CORT) initiated with an Outperform at FBR Capital... Criteo (CRTO) initiated with an Outperform at Raymond James... CytRx (CYTR) initiated with an Outperform at FBR Capital... Dollar Tree (DLTR) initiated with a Buy at Cantor... Facebook (FB) initiated with a Buy at Cleveland Research... Gap (GPS) initiated with a Hold at Cantor... Genocea (GNCA) initiated with an Outperform at FBR Capital... Geron (GERN) initiated with an Outperform at Oppenheimer... Home Depot (HD) initiated with a Hold at Cantor... HubSpot (HUBS) initiated with a Buy at Needham... Jernigan Capital (JCAP) initiated with a Buy at Wunderlich... La Jolla (LJPC) initiated with an Outperform, $43 target at Oppenheimer... Lowe's (LOW) initiated with a Hold at Cantor... Lumber Liquidators (LL) initiated with a Buy, $45 target at Cantor... New Residential (NRZ) reinstated with an Outperform at Credit Suisse... Rent-A-Center (RCII) initiated with a Buy at Cantor... Ross Stores (ROST) initiated with a Hold at Cantor... Rubicon Project (RUBI) initiated with an Outperform at Raymond James... SolarCity (SCTY) initiated with an Outperform at Northland... SolarEdge (SEDG) initiated with a Buy at Canaccord... Spectrum Brands (SPB) initiated with an Overweight at KeyBanc... Summit Materials (SUM) initiated with a Buy at BB&T... Synergy Resources (SYRG) initiated with a Buy at KLR Group... Synta Pharmaceuticals (SNTA) initiated with an Outperform at FBR Capital... TJX (TJX) initiated with a Hold at Cantor... Tiffany (TIF) initiated with a Hold at Cantor... TubeMogul (TUBE) initiated with a Market Perform at Raymond James... Urban Outfitters (URBN) initiated with a Buy at Cantor... WhiteWave Foods (WWAV) initiated with a Neutral at Janney Capital... Williams-Sonoma (WSM) initiated with a Hold at Cantor... Zafgen (ZFGN) initiated with an Outperform at FBR Capital.
09:37 EDTFBActive equity options trading on open
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09:17 EDTFBFacebook initiated with a Buy at Cleveland Research
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