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Stock Market & Financial Investment News

News For YHOO;MSFT From The Last 14 Days
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October 22, 2014
16:33 EDTYHOOOn The Fly: Closing Wrap
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16:00 EDTYHOOOptions Update; October 23, 2014
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13:18 EDTYHOOYahoo earnings beat, Alibaba stake sale details send shares higher
Shares of Yahoo (YHOO) are climbing after the company's third quarter earnings and revenue topped estimates. Additionally, Yahoo CEO Marissa Mayer said that it had obtained net proceeds of $6B from its sale of shares in Alibaba (BABA) during the latter company's IPO. The country's top tax experts are "working intensively" to reduce Yahoo's tax liability on its sale of the Alibaba stake, said Mayer, adding that Yahoo will provide more information about its strategy for accomplishing that goal in January. WHAT'S NEW: Last night, Yahoo reported Q3 earnings per share of 52c, topping the consensus forecast of 30c, and revenue excluding Traffic Acquisition Costs of $1.09B, which also beat consensus. Yahoo's after-tax windfall from the sale of its Alibaba stake during the Chinese company's IPO totaled about $6B, Mayer said on the company's earnings conference call last night. Yahoo intends to return at least 50% of that total, or about $3B, to shareholders, the CEO noted. Last quarter, Yahoo intensified its share repurchases as part of that commitment, she added. Yahoo still holds 384M shares of Alibaba, worth $34B before taxes, Mayer pointed out. The Internet company has hired top tax experts who are "working intensively" in an effort to reduce the company's tax liability on the sale of these shares, the CEO stated. Yahoo will provide more information to investors about this issue in January, Mayer indicated. ANALYST REACTION: In a note to investors today, FBR Capital analyst William Bird upgraded Yahoo to Outperform from Market Perform. Yahoo appears to be working on shielding its Asian assets from taxes and the company's tax saving initiatives could be worth $13 per share, Bird stated. The company's decision to share information about these initiatives sooner than expected is also positive for the stock, he contended. Bird raised his price target on the stock to $50 from $40. PRICE ACTION: In early afternoon trading, Yahoo climbed over 5% to $42.30.
12:09 EDTYHOOOn The Fly: Midday Wrap
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11:55 EDTYHOOStocks with call strike movement; YHOO CELG
Yahoo (YHOO) January 48 call option implied volatility decreased 6% to 32, Celgene (CELG) April 110 call option implied volatility increased 2% to 32 according to IVolatility.
11:25 EDTMSFTCisco 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).
10:09 EDTYHOOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AOL (AOL) upgraded to Buy from Hold at Evercore... ARM Holdings (ARMH) upgraded to Buy from Neutral at UBS... American Assets Trust (AAT) upgraded to Buy from Hold at MLV & Co.... American Midstream Partners (AMID) upgraded to Buy from Neutral at Ladenburg... BancorpSouth (BXS) upgraded to Neutral from Underweight at JPMorgan... Chesapeake (CHK) upgraded at UBS... Chuy's (CHUY) upgraded to Buy from Hold at Stifel... Dean Foods (DF) upgraded to Overweight from Equal Weight at Morgan Stanley... East West Bancorp (EWBC) upgraded at BMO Capital... El Paso Electric (EE) upgraded to Buy from Neutral at Ladenburg... Generac (GNRC) upgraded to Buy from Hold at KeyBanc... Gold Fields (GFI) upgraded to Overweight from Neutral at HSBC... Harmony Gold (HMY) upgraded to Neutral from Underweight at HSBC... Hess Corp. (HES) upgraded to Buy from Neutral at UBS... Hovnanian (HOV) upgraded to Market Perform from Underperform at JMP Securities... Intuitive Surgical (ISRG) upgraded to Buy from Neutral at BTIG... OMV AG (OMVKY) upgraded to Neutral from Underperform at Credit Suisse... Seaspan (SSW) upgraded to Neutral from Underperform at Credit Suisse... Sibanye Gold (SBGL) upgraded to Neutral from Underweight at HSBC... Smith & Nephew (SNN) upgraded to Overweight from Equal Weight at Barclays... Southwestern Energy (SWN) upgraded to Buy from Hold at Maxim... Steel Dynamics (STLD) upgraded to Outperform from Neutral at Macquarie... Steris (STE) upgraded to Strong Buy from Market Perform at Raymond James... Tesoro Logistics (TLLP) upgraded to Strong Buy from Outperform at Raymond James... Texas Instruments (TXN) upgraded to Outperform from Market Perform at Bernstein... Twitter (TWTR) upgraded to Hold from Sell at Hudson Square... Vanguard Natural (VNR) upgraded to Buy from Hold at Wunderlich... Volaris (VLRS) upgraded to Buy from Hold at Deutsche Bank... Wilshire Bancorp (WIBC) upgraded to Outperform from Neutral at Macquarie... Yahoo (YHOO) upgraded to Outperform from Market Perform at FBR Capital.
10:03 EDTMSFTThe Linley Group to hold a conference
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09:38 EDTYHOOActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL PBR AMZN C TWTR YHOO BAC GILD FB THRX DOW CAR
09:21 EDTYHOOOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Dow Chemical (DOW), up 3.7%... iRobot (IRBT), up 12%... Six Flags (SIX), up 13%... GlaxoSmithKline (GSK), up 2%... Broadcom (BRCM), up 7%... Boston Scientific (BSX), up 4.3%... Abbott (ABT), up 1.8%... Yahoo! (YHOO), up 6%. ALSO HIGHER: Blue Earth (BBLU), up 26.4% after CEO says statements in Seeking Alpha blog are "false and misleading."... GW Pharmaceuticals (GWPH), up 5.4% after Epidiolex receives orphan designation from EMA. DOWN AFTER EARNINGS: 3D Systems (DDD), down 15%... Biogen (BIIB), down 7%... Lumber Liquidators (LL), down 13.4%... Norfolk Southern (NSC), down 3%... Angie's List (ANGI), down 8.8%. ALSO LOWER: Nanosphere (NSPH), down 33% after filing secondary, reporting preliminary Q3 revenue... Himax Technologies (HIMX), down 16% after announcing that Google (GOOG) will not exercise an additional investment option in the company... Cree (CREE), down 10.5%, downgraded at DA Davidson and Canaccord following the company's Q1 earnings results... Ocwen Financial (OCN), down 7% after downgraded to Hold at Evercore, downgraded to Neutral at BofA Merrill Lynch... VMware (VMW), down 7.8%, downgraded at Nomura and Raymond James following the company's Q3 results.
09:07 EDTMSFTIBM and Microsoft partner for hybrid cloud services
IBM (IBM) and Microsoft (MSFT) are working to provide their respective enterprise software on Microsoft Azure and IBM Cloud. IBM and Microsoft will make key IBM middleware such as WebSphere Liberty, MQ, and DB2 available on Microsoft Azure. Windows Server and SQL Server will be offered on IBM Cloud. IBM and Microsoft are working together to deliver a Microsoft .NET runtime for IBM's Bluemix cloud development platform. The companies will enable customers to bring their own software licenses to the IBM and Microsoft clouds.
08:22 EDTMSFTMicrosoft October weekly volatility elevated into Q1 and outlook
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07:36 EDTYHOOYahoo shares offer compelling trading opportunity, says Bernstein
After Yahoo (YHOO) expressed optimism about its ability to find tax efficient ways to transfer the value of Alibaba's (BABA) stake to its shareholders, Bernstein says that Yahoo's stock price implies that the company will pay full tax on the sale of its Alibaba stake. The firm sees limited downside and 30% potential upside in Yahoo's stock over the near-term. However, it keeps a Market Perform rating on the shares.
07:09 EDTYHOOYahoo turnaround still in early stages, says JMP Securities
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06:39 EDTMSFTMicrosoft Lumia to replace Nokia brand, The Verge reports
Microsoft plans to make Microsoft Lumia the new brand name that takes the place of Nokia for the software maker, reports The Verge. Nokia still exists as a separate company without its phones business, focusing on mapping and network infrastructure. Reference Link
06:20 EDTYHOOYahoo upgraded to Outperform from Market Perform at FBR Capital
FBR Capital upgraded Yahoo to Outperform following the company's Q3 results and raised its price target for shares to $50. FBR believes Yahoo's attempts to create a tax shield for its Asian assets could add $13 per share and that the company's new initiatives in mobile and video are gaining traction. Shares of Yahoo are trading up $1.32 to $41.50 in pre-market trading.
06:19 EDTYHOOYahoo's Tumblr could generate over $100M in revenue in 2015, WSJ reports
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October 21, 2014
18:36 EDTYHOOOn The Fly: After Hours Movers
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17:48 EDTYHOOYahoo, Tumblr monthly active users exceeds 1B, up 6% vs. last year
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16:23 EDTYHOOYahoo jumps 3% to $41.35 after Q3 beats expectations
16:13 EDTYHOOYahoo sees Q4 revenue ex-TAC $1.14B-$1.18B , consensus $1.17B
Sees Q4 non-GAAP net income $190M-$230M, consensus 31c. Sees Q4 adjusted EBITDA $340M-$380M. Outlook issued in earnings call presentation slides.
16:12 EDTYHOOYahoo CEO says mobile revenue topped $200M in Q3
Yahoo CEO Marissa Mayer said, "I am also pleased to report today that our revenue in mobile is now material. In Q3, we saw mobile revenues in excess of $200 million on a GAAP basis. Further, we estimate that our gross revenues in mobile will exceed $1.2 billion in revenue this year. We have invested deeply in mobile and we are seeing those investments pay off. Not only are our mobile products attracting praise and engagement from users and industry awards, they are generating meaningful revenue for Yahoo."
16:10 EDTYHOOYahoo expects Q1 taxes of $3.3B for Alibaba sale
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16:09 EDTYHOOYahoo reports Q3 GAAP search revenue up 4% to $452M
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16:07 EDTYHOOYahoo reports Q3 GAAP display revenue down 5% to $447M
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16:06 EDTYHOOYahoo reports Q3 EPS 52c, consensus 30c
Reports Q3 revenue ex-TAC $1.09B, consensus $1.04B.
15:30 EDTYHOONotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Yahoo! (YHOO), consensus 30c; ACE (ACE), consensus $2.34; Discover Financial (DFS), consensus $1.34; Pinnacle Financial (PNFP), consensus 51c; Broadcom (BRCM), consensus 84c; Intuitive Surgical (ISRG), consensus $3.80; FMC Technologies (FTI), consensus 74c; Robert Half International (RHI), consensus 58c; E-Trade (ETFC), consensus 22c; Nabors Industries (NBR), consensus 36c; Waste Connections (WCN), consensus 54c; Cubist Pharmaceuticals (CBST), consensus 4c; Sonic (SONC), consensus 34c; American Campus Communities (ACC), consensus 43c; Cree (CREE), consensus 36c; Fulton Financial (FULT), consensus 20c; Costamare (CMRE), consensus 41c; Hawaiian Holdings (HA), consensus 78c; Ethan Allen (ETH), consensus 36c; Sabra Health (SBRA), consensus 55c; Rush Enterprises (RUSHA), consensus 51c.
13:27 EDTYHOOEarnings Preview: Yahoo expected to unveil turnaround plan with Q3 results
Yahoo (YHOO) is expected to report third quarter earnings after the market close on Tuesday, October 21 with a conference call scheduled for 5:00 pm ET. Yahoo is a digital media company that provides properties and services such as Yahoo! Search and Yahoo! News. EXPECTATIONS: Analysts are looking for EPS of 30c on revenue of $1.04B. The consensus range is 18c-38c for EPS, and $1.02B-$1.06B for revenue, according to First Call. LAST QUARTER: Yahoo reported Q2 EPS 37c against estimates of 38c on revenue ex-tac of $1.04B against estimates of $1.08B. It reported Q2 price-per-ad was down 24%, Q2 Display revenue down 7% and Search revenue up 6%. The company gave Q3 revenue ex-tac guidance of $1.02B-$1.06B. After releasing its Q2 results, CEO Marissa Mayer said the company was "not satisfied" with the results, with display remaining an area of investment and transition. NEWS: In the past quarter, Alibaba (BABA) opened to the larges IPO in U.S. history. The Wall Street Journal reported that Yahoo's core business was cut in half to $6.8B after Alibaba's first day of trading. Yahoo made $5.1B in cash from the sale of shares in Alibaba's IPO and its remaining stake is valued at about $23.4B.In late September, activist investor Starboard Value urged Yahoo to explore a strategic combination with AOL (AOL), believing a merger could create synergies of up to $1B. CEO Marissa Mayer is expected to unveil her turnaround plan at the earnings call today that could include cost-cutting efforts and its M&A strategy, according to the Wall Street Journal. Yahoo also confirmed that a security breach in Q3 compromised servers, but the hack did not disclose consumer data. The company acquired several companies in past few months, including Flurry, Zofari, ClarityRay, Luminate, and Bookdpad. A WSJ reports also said the company is in talks to invest in Snapchat. STREET RESEARCH: Following the Alibaba IPO, Yahoo was downgraded at Bernstein, BofA/Merrill and RBC Capital because it was unclear whether Yahoo's stock can advance meaningfully and the company was no longer the best way to gain Alibaba exposure. RBC Capital said the risk/reward is less attractive, and it does not see a turnaround in Yahoo's core fundamentals. BGC Financial, however, upgraded the company and said the company's remaining assets should get monetized in a more tax efficient manner. PRICE ACTION: Yahoo shares have risen $4.29, or more than 12%, since the first day of trading following the company's Q2 report. In Tuesday midday trading ahead of Q3 report, Yahoo shares are trading up nearly 2%.
13:08 EDTYHOOYahoo October weekly 40 straddle priced for 5.5% move into Q3
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13:05 EDTYHOOYahoo technical notes before earnings
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12:50 EDTYHOOGoing private among potential scenarios seen for Yahoo, Re/Code's Swisher says
Sources close to Yahoo CEO Marissa Mayer said she is determined to continue to push through her vision of the company's core business as a video-heavy, mobile-focused content company, according to Re/Code's Kara Swisher, who added that the "most intriguing possibility of all" that she has heard over the last weeks is that Yahoo could seek to dispose of its Asian assets, return a large amount of the proceeds to shareholders and work with a large private equity firm to take the company private. Shares of Yahoo, which reports on its quarterly results after the closing bell, is up 1.8% to $40 per share in afternoon trading. Reference Link
07:45 EDTMSFTMicrosoft CEO touts cloud revenue run-rate over $4B, BI reports
At a press event yesterday, Microsoft (MSFT) CEO Satya Nadella provided a number of figures about the strong performance of the company's Azure cloud business, including a revenue run rate of nearly $4.4B and that Azure is adding 10,000 new customers every week to its 350M active directory user base, reported Business Insider, which noted that Amazon Web Services (AMZN) is estimated to have roughly $4B in annual sales and that Salesforce.com (CRM) had a little over $4B in revenues last year. Reference Link
06:38 EDTYHOOYahoo in talks to acquire BrightRoll, TechCrunch reports
TechCrunch has learned that Yahoo is in talks to buy cross-platform digital video advertising service BrightRoll for $700M-$725M. The company is currently facing pressure from Starboard Value to consider a breakup or a sale of the company. Reference Link
October 20, 2014
15:20 EDTMSFTMicrosoft confirms availability of Cloud Platform System, powered by Dell
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12:09 EDTMSFTIBM hits 52 week low after earnings miss, 2015 profit target dropped
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09:52 EDTYHOOArmstrong says AOL will not merge with Yahoo, VentureBeat reports
AOL CEO Tim Armstrong said "no" when asked if his company will merge with Yahoo (YHOO), VentureBeat reports, citing a fireside chat with Armstrong at the TechCrunch Disrupt in Europe. Reference Link
08:00 EDTMSFTRBC Capital remains positive on Microsoft
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07:29 EDTYHOOYahoo weekly volatility increases into Q3 and capital outlook
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07:06 EDTMSFTNICE Systems solution qualified to support Microsoft Lync
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06:49 EDTYHOOTumblr, TV shows collaborate to broaden reach, NY Times says
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06:26 EDTYHOOYahoo to unveil turnaround, M&A strategy, WSJ reports
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October 19, 2014
20:41 EDTMSFTMicrosoft plans smartwatch launch within weeks, Forbes says
Microsoft (MSFT) is planning a smart watch launch within the next few weeks, Forbes says.The smart watch will passively keep track of the wearer’s heart rate and work across different mobile platforms, added Forbes. Apple (AAPL) has delayed its own smartwatch launch to early 2015 according to the report. Reference Link
October 17, 2014
13:16 EDTYHOOYahoo weekly volatility elevated into Q3 and capital utilization outlook
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12:17 EDTYHOOMark Cuban says buying Netflix shares, sees company as M&A target
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11:27 EDTMSFTMicrosoft October weekly volatility elevated into Q1 and outlook
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06:30 EDTMSFTNPD: Sony PlayStation4 outsells XBox One in September, GameSpot reports
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06:26 EDTMSFTSony says PS4 September's top-selling console
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October 16, 2014
06:00 EDTMSFTMicrosoft says working with YouTube to reinstate content inadvertently removed
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October 15, 2014
16:22 EDTYHOOYahoo amendment to credit agreement extended to October 8, 2015
On October 9, Yahoo! Inc. entered into Amendment No. 2 to its Credit Agreement, dated as of October 19, 2012, as amended by Amendment No. 1, dated as of October 10, 2013, with Citibank, N.A., as administrative agent, and the lenders party thereto from time to time. Amendment No. 2, among other things, extends the termination date of the Credit Agreement from October 9, 2014 to October 8, 2015. The Credit Agreement, as amended, continues to provide for a $750M unsecured revolving credit facility, subject to increase by up to $250M in accordance with its terms. There are no borrowings currently outstanding under the Credit Agreement.
09:04 EDTMSFTMicrosoft partners with Docker for container applications
Microsoft and Docker Inc. announced a strategic partnership to provide Docker with support for new container technologies that will be delivered in a future release of Windows Server. Developers and organizations that want to create container applications using Docker will be able to use either Windows Server or Linux.
06:40 EDTYHOOYahoo hires Kevin Gentzel as head of N.A. ad sales, CNet reports
Yahoo has hired Kevin Gentzel, the Washington Post's former chief revenue officer, as its new head of North American advertising sales, CNet reports. Gentzel will report to Ned Brody, the company's head of Americas. Reference Link
06:39 EDTMSFTChina's reponse to Xbox One 'chilly,' Business Insider reports
Sales of Microsoft's Xbox One in China began nearly two weeks ago, and signs indicate that the response has been "chilly," Business Insider reports. Reference Link
06:32 EDTMSFTTablet supply chains expect lagging orders in Q4, DigiTimes reports
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October 14, 2014
14:28 EDTYHOOYahoo hires former Washington Post Chief Revenue Officer to head sales, WSJ says
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09:25 EDTMSFTMicrosoft may want to consider split, says BGC Financial
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08:08 EDTYHOOYahoo to close Amman, Jordan office by end of year, TechCrunch reports
Yahoo will close its office in Amman, Jordan by the end of the year, TechCrunch reports, citing a confirmed statement by a company spokesperson. The company will funnel its Arab-language and English-language Arab-focused Internet portal to an office in Dubai and other regions. A Yahoo spokesperson says the move is part of its "global efforts to streamline operations." Reference Link
06:46 EDTMSFTFirm indicates vulnerability in Microsoft Windows used by Russian hackers
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06:32 EDTMSFTMicrosoft says hit 1M registrants to test Windows 10 preview version
Microsoft says on its Windows blog that it hit 1M registrants for the Windows Insider Program to test the preview version of Windows 10. The company says it has received 200,000 items of user feedback. Reference Link
October 13, 2014
16:33 EDTMSFTMicrosoft and Salesforce.com unveil new joint solutions
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16:04 EDTMSFTSkullcandy announces two ASTRO headsets compatible with Xbox One
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13:10 EDTYHOO, MSFTGoogle's Schmidt says Amazon is company's biggest search rival, FT reports
Eric Schmidt, the executive chairman of Google (GOOG), says Amazon (AMZN) is his company's biggest rival in search, not Bing (MSFT) or Yahoo (YHOO), the Financial Times reports. Schmidt also argued in Berlin that Google should not be regulated "as if it were the gatekeeper of the internet," given the influence of Amazon and Facebook (FB). Reference Link
12:13 EDTYHOOYahoo upgraded as BGC sees higher chances for tax efficient monetization
Research firm BGC Partners upgraded its rating on Yahoo (YHOO) to Buy from Hold, saying that the chances of the company monetizing its assets in a more tax efficient manner have increased now that Alibaba (BABA) has come public. Among the possible scenarios, Yahoo may be acquired by Alibaba, the firm added. WHAT'S NEW: Yahoo's chances of paying a relatively low tax rate on the sale of its stakes in Alibaba and Yahoo Japan, a Japanese Internet company, have risen, BGC Financial analyst Colin Gillis stated. Yahoo could owe up to $15B of taxes on its sale of the assets, the analyst estimated. If Yahoo pays full tax liability, its stakes would be worth $43.5B. If it pays no taxes, the assets would be worth $58.5B, he estimated. Gillis set his price target on Yahoo at $50, representing the midpoint of the two scenarios, he stated. Among various scenarios that could play out, Alibaba could choose to buy Yahoo and subsequently unload Yahoo's core business and the American company's stake in Yahoo Japan, the analyst said. Yahoo shareholders could receive cash and shares of Alibaba as part of such a deal, Gillis stated. If Yahoo is not acquired by Alibaba, the American company should combine with AOL (AOL), as recently proposed by activist investor Starboard Value, Gillis contended. Merging with AOL could accelerate Yahoo's revenue growth by over 50% and increase its EBITDA by over 35%, Gillis estimated. PRICE ACTION: In early afternoon trading, Yahoo fell 1% to $39.18.
10:08 EDTYHOOOn The Fly: Analyst Upgrade Summary
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09:28 EDTYHOOYahoo upgraded to Buy from Hold at BGC Financial
BGC Financial analyst Colin Gillis upgraded his rating on Yahoo (YHOO) shares to Buy saying the company's remaining assets should get monetized in a more tax efficient manner now that Alibaba (BABA) is public. Gillis also points out that Alibaba could see benefits from acquiring Yahoo. He raised his price target for Yahoo shares to $50 from $37.
09:09 EDTMSFTMicrosoft Q1 results likely to beat expectations, says Bernstein
Bernstein believes that Microsoft's cloud business continues to grow, and it expects adoption of the company's cloud products to accelerate this quarter. The firm reiterates a $56 price target and Outperform rating on the shares.
07:15 EDTMSFTNational Association of Corporate Directors to hold a conference
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October 9, 2014
14:37 EDTYHOOYahoo looking to make Tumblr another YouTube, Business Insider says
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13:39 EDTMSFTMicrosoft says committed to Surface Pro 3
Microsoft's Brian Hall acknowledged in a post to the company's Surface blog that the company has recently received a lot of interest and questions from businesses about Microsoft’s longer-term commitment to Surface is in businesses of all sizes. Surface Pro 3 will continue to support Windows 8.1 and be upgrade-able when Windows 10 is released, Hall stated. Hall also announced a limited-time Surface Laptop Replacement Bundle that provides up to $150 off of a Surface Pro 3, Type Cover and Docking Station when purchased together, available through Microsoft's authorized resellers in the U.S. starting immediately. "Businesses can buy with confidence. We are here to stay," Hall, the General Manager for Surface, stated in concluding the blog post. The Fly notes that DigiTimes, citing sources from the upstream supply chain, reported earlier that Microsoft may be planning to cancel the Surface tablet business as it continues to see weak sales for the Surface Pro 3. Reference Link
10:00 EDTMSFTOn The Fly: Analyst Initiation Summary
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09:38 EDTMSFTActive equity options trading on open
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09:01 EDTMSFTSony moves step further toward sale of PS4 in China, WSJ says
Sony (SNE), which seeks to join Microsoft (MSFT) in selling video game consoles in China, may see a partner company start packaging its consoles in the nation in December, said The Wall Street Journal, citing a filing posted by a Sony local partner on the official website of Shanghai’s free-trade zone. A Sony spokesperson said the facility's ability to package 200,000 consoles a year, which was communicated in the filing, does not represent an actual business plan and declined to comment further on Sony’s plans. Reference Link
08:53 EDTMSFTAbout 1,000 workers went on strike for several hours at Foxconn plant, WSJ says
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06:42 EDTMSFTMicrosoft CEO admits 'mistakes' with Windows 8, Business Insider reports
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06:41 EDTMSFTMicrosoft initiated with a Market Perform at BMO Capital
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06:31 EDTMSFTFiling says Sony to begin console packaging in China, Bloomberg says
A filing on the website of the China Pilot Free Trade Zone said that Sony (SNE) is aiming to begin packaging over 200K new video game consoles starting in December in China, according to Bloomberg, citing the filing which was verified as authentic by a spokesman for Sony Computer Entertainment. The company is looking to accumulate sales in the country as the end of a 14-year ban on the devices approaches. Microsoft (MSFT) already began selling Xbox Ones in China. Reference Link
06:24 EDTMSFTMicrosoft rumored to cancel Surface tablet business, DigiTimes reports
Microsoft may be planning to cancel the Surface tablet business as it continues to see weak sales for its Surface Pro 3 tablet, reports DigiTimes. According to sources from the upstream supply chain, the first and second generation Surface tablets are estimated to have created losses of about $1.7B. Reference Link
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