Posts by Jeff Macke
- Jeff Macke at Yahoo Finance17 hrs ago
GoPro (GPRO) shares are higher! Again! The company unveiled the Hero4. The latest addition to the selfies on a stick, helmet or vest cam line-up can shoot in 4K, has a gazillion pixels and promises to give you the life of professional surfer Laird Hamilton. We live in an age of miracles. GoPro went public in June at $24 a share. Today shares are over $85 giving the company a market cap of just under $11 billion.
Disney (DIS) shares are off slightly but the company is breathing a sigh of relief. Late last week Disney managed to reach an out of court settlement with the family of Jack Kirby. That name may not ring a bell but Kirby was the mind behind characters like Iron Man, the X-Men, Hulk and Groot, among others. Kirby's characters form the backbone of the multi-billion dollar Marvel franchise. A win in court could have set the stage for endless fights between copyright owners and "for hire" artists behind the iconic characters and brands that form the non-verbal backbone of capitalism. The case had been in play since 2009 when Disney bought Marvel for $4 billion.
- Jeff Macke at Yahoo Finance22 hrs ago
Like Jimmy’s crew after the Luftansa heist in Goodfella’s investors who cashed out in Alibaba’s (BABA) record-setting IPO are itchy to put their windfall to work. The biggest of the outside investors is already making noise in an unlikely place. SoftBank is trading down over 1% in Japan on a Hollywood Reporter story that the Japanese company is in talks to acquire DreamWorks Animation (DWA) for $3.4 billion.
DreamWorks CEO Jeffrey Katzenberg would be part of the deal, according to these reports. The former Disney (DIS) executive who started the original DreamWorks in 1994 with Steven Spielberg and David Geffen. DreamWorks Animation was spun off as a freestanding operation in 2004. Results have been mixed, to be polite. Until this rumor started picking up shares were down 37% in 2014 after disappointing results for "Mr. Peabody and Sherman" and "How to Train Your Dragon 2." The latter only earned $176 million at the box office, short of the original’s take and a huge disappointment given the weak competition.
- Jeff Macke at Yahoo Finance3 days ago
Janus Capital Group (JNS): Shares surged on news that Bill Gross is leaving PIMCO and going to work for Janus starting on Monday. It's a coup for Janus to be sure but within minutes of this news crossing people were questioning the circumstances under which once and possibly current Bond King was leaving PIMCO. Sure enough "sources" started suggesting Gross was on his way out, possibly as soon as tomorrow. Is this huge move in Janus Capital shares justified? Maybe. Suffice it to say bringing in a notoriously "difficult" personality to work in a remote office wouldn't normally qualify as a turnaround plan.
BlackBerry (BBRY) shares higher after the company posted a smaller quarterly loss and CEO John Chen says the tech company would double its software revenue next year. Perhaps more importantly, Chen suggested Blackberry could be cash flow positive by the end of this year. Taking bankruptcy out of the equation is a monster accomplishment for the well respected Chen. Shares of Blackberry are up more than 25% this year.
- Jeff Macke at Yahoo Finance3 days ago
Here’s a list of countries that are looking awesome this morning:
Yes, yesterday was mostly horrible. The Dow (^DJI) fell 260 points, the Nasdaq (^IXIC) dropped nearly 2% and it threatened to rain on national Derek Jeter day. That sort of made sense. This has been a rough few weeks for our national psyche. It’s not good for morale to have our issues with rage and domestic violence trotted out on the global stage while Chinese Internet giants come public on our exchanges.
We were in a funk. For that matter we may still be in one. Yesterday’s sell-off only stopped because the bell rang and traders went home. There wasn’t really a wash-out. Heaven knows we aren’t any closer to reconciling the conflict between idolizing youth and athleticism and our human desire to reward people with a moral compass that points them away from hitting their wives or children.
Apple (AAPL) shares are bending 3% lower after the company issued an iOS 8 update that turned some iPhones into awkwardly large bricks. Apple has issued a fix but that hasn't stopped the break-my-iPhone meme from spreading. The most common variant of the trend is trying to fold iPhones in half on Youtube. As it turns out, rigid plastic under stress cracks. Do you people have any idea how many little kids suffered to make these phones? Stop breaking your new toys, people.
Speaking of toys Gamestop (GME) is down in a weak tape. The company announced that it will be hiring 25,000 temps for the coming Christmas season. The company says it's increasing hires but nearly fifty percent in anticipation of demand for Next-Gen console games. At the very least the new hires will make the malls seem less abandoned. Gamestop shares are down about twelve percent so far in 2014.
Tesla (TSLA) builds whisper-quiet cars but its shareholders are accustomed to bumpy rides. Shares have gone up by 37% over the last year but the downdrafts have been withering. Twice in the last twelve months Tesla shares have dropped by more than 30% only to claw their way back to record highs.
Back in August Zor Capital’s Joe Fahmy made Tesla his top pick to possibly double over the next year. At the time TSLA was trading at $243. Since then the shares have been predictably unpredictable, rising 20% then giving back most of those gains. In the attached clip Fahmy says he’s sticking with his pick, even if there are only scant profits left to take on the trade.
“Nothing has changed since last time I was here” Fahmy says rather coolly in the attached clip. Pointing at that it’s common for stocks to pullback to previous resistance points after breaking out on the chart Fahmy says some consolidation makes sense here.
The NFL has yet to be able to get from one slate of Sunday's games to the next without making negative headlines. There are simply too many scandals, tragedies and self-inflicted PR gutshots to cover in this space. Before we cover the highlights then, let me make it clear that this matters to your wallet whether you’re an investor or simply one of millions of Americans subconsciously tithing to wash away the sense of guilt you feel whenever you watch our national sport.
In the grand tradition of Watergate, if you want to know the truth about the NFL, its sponsors and the television networks all you have to do is follow the money. Here goes:
- Jeff Macke at Yahoo Finance5 days ago
Time for your hump day dose of Trending Tickers, the stocks that you're tracking as measured by Yahoo Finance ticker searches:
Bed Bath & Beyond (BBBY) - Shares are higher by more than 6%. The "towels 'n stuff" retail chain still trying to recover from an uncharacteristic miss last Christmas. Sales growth is still a problem but earnings are getting a boost from decent margins and a monster buyback. Bed Bath... shares still down about 17% for 2014.
KB Homes (KBH) - The stock is getting torched by 5%. The home builder missed estimates on both the top and bottom line by a country mile. Management says demand trends are strong but delays in construction and mortgage closings pushed some deliveries into the next quarter. Keep an eye on those mortgages, folks. The Fed can keep rates at zero forever but if human beings can't get loans all you're going to get for it is a bunch of stock buybacks. That's no problem for the broader market but it's little solace for KB Holders today.
- Jeff Macke at Yahoo Finance5 days ago
For the most part our best interests are at least loosely aligned with the corporate powers that be and marketing just fades into the background noise. For example, Apple does a great job packaging its iPhones but the truth is it’s just a cool device. If you have the means, your life is probably a tiny bit more enjoyable if you have a kick-ass smartphone.
The fact that the media slavishly picks up on the story of the people camping out to buy their iPhones helps build the frenzy, and Apple certainly encourages such coverage, but the demand is organic. There’s no need to work on convincing people Apple makes a good phone. They just do. End of conversation.
Would that our world was made up entirely of iPhones. It’s not. For the most part what we see, read, eat and drink is a bunch of garbage we lap up out of habit, as much as anything else. At some point there comes a time where science catches up to habit and we realize just how horrible a beloved product really is for us.
- Jeff Macke at Yahoo Finance6 days ago
CarMax (KMX) shares are getting towed 8% lower after the company missed earnings by 3-cents. Sales of new cars were up an impressive 18% but that's a relatively small part of what CarMax does. As it turns out selling used cars is where the real money is and CarMax didn't do enough of that to satisfy Wall Street. Surprisingly enough that's been the case for a lot of car retailers in 2014. For companies like CarMax, AutoNation and Sonic Automotive sales are brisk but the stocks have been lemons.
Philips (PHG) is lighting up the chat rooms with the stock up more than 3%. The Dutch company says its spinning off the lighting division that made it famous into a freestanding company. It would then combine consumer and health equipment product lines into a company called "HealthTech." Philips says it will save up to $380 million a year after the move. Beyond that investors seem delighted to see any sign of a pulse from Philips which has been dead money for over a year.