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Financial News from Barrons.com

  • Apple Helps Matthew 25 Fund Shine Bright @ Barrons.com - 1 hour 16 minutes ago

    Mark Mulholland, founder of Matthew 25 Management, believes good research and the Good Book will lead to good returns. In his case, the results have been great, thanks in no small part to Apple (AAPL), which last month became the first U.S. company to reach a $700 billion market capitalization. Matthew 25 (MXXVX) counts …

  • Ford Set to Drive Higher @ Barrons.com - 1 hour 19 minutes ago

    The second-largest U.S. auto maker said it delivered 180,383 vehicles in February, falling 1.9% from the same period last year and missing estimates that forecasted 194,000 vehicle sales. Ford stock fell 2.5% in recent trading to $16.15. Moreover, Ford remains on track to resume growing sales and profit this year, despite …

  • Barclays Bullish on Williams Partners Bonds @ Barrons.com - 1 hour 33 minutes ago

    Barclays reinstated coverage Tuesday of  Williams Partners L.P. (WPZ) debt securities with an overweight rating. The company is a product of the merger of Williams Partners and Access Midstream Partners, which closed Feb. 2. Barclays was one of the book-running managers for the offering. Barclays credit analysts Harry …

  • ETF Market Vital Signs, March 3: Fatigue Sets In @ Barrons.com - 2 hours 6 minutes ago

    Markets on Tuesday were bleak and slow moving, not unlike the parka-wearing toilers navigating slushy Manhattan streets. Asian stocks were first to feel inflammation in overnight trading. Pessimism spread ...

  • Shares of life sciences software maker Veeva Systems (VEEV) are down $3.13, or 10%, at $29.56, in late trading, after the company reported fiscal Q4 results that topped analysts' expectations, and forecast this quarter's profit, and the full year, slightly ahead of consensus, and said it will acquire some assets in the …

  • 5 Big 2015 Drug Launches: These Firms Will Benefit @ Barrons.com - 2 hours 19 minutes ago

    In 2014, the industry’s research and development pipeline had its most productive year in two decades, as the Food and Drug Administration gave the green light to 41 new drug compounds for a wide range of diseases, including viruses, cancer and skin infections. It was also the year of the most successful drug launch in …

  • Turkish Lira Hits New Low @ Barrons.com - 2 hours 36 minutes ago

    Turkey's lira hit a fresh low against the dollar Tuesday in the face of domestic inflation fears and a strengthening U.S. dollar. The Turkish lira has been one of the weakest emerging market currencies this year as investors worry about government tinkering in central bank policy, with more attention paid to June elections …

  • Stocks ended lower across the board on Tuesday, pulling back from Monday’s new highs. The Dow Jones Industrial Average slipped 85.26 points, or 0.47%, to 18203.37and the S&P 500 fell 9.61 points, or 0.45%, to 2107.78. As The Wall Street Journal reports: Overall, short-term sentiment on U.S. stocks is positive, said Stephen …

  • Ambarella Slips Despite FYQ4 Revenue, EPS Beat @ Barrons.com - 2 hours 50 minutes ago

    Shares of video chip maker Ambarella (AMBA) are down 41 cents, or 0.6%, at $62.64, in late trading, despite the company this afternoon easily topping analysts’ expectations for its fiscal Q4 revenue and profit. CFO George LaPlante said on the call that security cameras and uses in autos will make for stronger-than-expected …

  • Shares of DRAM and NAND chip maker Micron Technology (MU) are down $1.55, or 5%, at $29.69, after the stock was downgraded today to Neutral from Buy by Nomura Equity Research’s Romit Shah, who has been a fairly ardent bull on the stock till now. Shah, cutting his price target to $30 from $40, writes that Samsung Electronics …

  • Following last week's highly contentious vote Federal Communications Commission to impose new rules on telecommunications providers to ensure "Net Neutrality," chairman Tom Wheeler, who voted with the 3-2 majority, appeared in Barcelona at the Mobile World Congress trade show to explain himself to an audience formed of …

  • Blame fear of the U.S. Federal Reserve's plans to raise interest rates, says Societe Generale: Broad measures of emerging markets have turned in a lackluster performance, especially of late. The iShares MSCI Emerging Markets ETF (EEM) is up 2.9% year to date, but is down 0.7% this week. The Vanguard FTSE Emerging Markets …

  • Five Picks That Star in Samsung's GS6 @ Barrons.com - 4 hours ago

    JPMorgan Samsung (ticker:ticker::005930.Korea) held its “Unpacked” Mobile World Congress event and unveiled its much-anticipated next-generation Galaxy S6 smartphone. As it relates to our semiconductor coverage universe, some of the more notable features on the Galaxy S6 (GS6) and GS6 Edge include: 2x2 5G WiFi connectivity, …

  • Shares of Alibaba Group Holding (BABA), the Chinese e-commerce giant that went public on the New York Stock Exchange in September, are at a new low since the offering on a couple of different concerns. One immediate problem for the retailer is that as my colleague Shuli Ren reported JD.com (JD) earlier today reported …

  • The Utilities Select Sector SPDR Fund (XLU) looks poised for a turnaround after a dismal February put the sector on the ropes, according to one market technician. Utility stocks, power generators and distributors including Pepco (POM), Integrys Energy (TEG) and Entergy (ETR), were last year's best performing sector on …

  • India's HDFC Bank has about 19% downside risk despite growth in corporate lending and higher fees. HDFC Bank (HDB) shares are down 0.6% in U.S. trading, but are up nearly 23% year to date to a recent $62.40. Citi's price target is $50.63. The WisdomTree India Earnings Fund (EPI) is down slightly today, while the iShares …

  • Visa (V:NYSE) By Sterne, Agee & Leach ($278.29, March 3, 2015) We estimate the new Costco Wholesale co-brand deal will result in an incremental six cents of earnings per share for Visa. Total Costco (COST) volume on American Express (AXP) cards totaled $81.8 billion in 2014, and we estimate that this volume is growing …

  • Buybacks, Buybacks, Buybacks @ Barrons.com - 7 hours ago

    Who's buying up all these stocks? Corporate America needs only to look in the mirror. Buyback authorizations, planned purchases by companies to step into the market and buy their own stock, hit a record ...

  • German utility RWE completed a $5.7 billion sale of its oil and gas arm to a holding company of a Russian billionaire, despite warnings from the United Kindom. Eurasia Group energy and natural resources Analyst Emily Stromquist and Director Michael Barron write: "Despite warnings over the weekend from the UK Department …

  • Seadrill: 'The Right Moves' @ Barrons.com - 8 hours ago

    Like Ewan McGregor in A Life Less Ordinary,  Deutsche Bank's Mike Urban and team believe Seadrill (SDRL) is trying to do its best under really difficult circumstances: Seadrill’s strong contract coverage ...

  • Why Nomura Cut U.S. Steel, AK Steel @ Barrons.com - 8 hours ago

    Nomura's Curt Woodworth explains why they downgraded U.S. Steel (X) and AK Steel (AKS): US Biggest Loser in Steel Trade Wars: Downgrade US Steel and AK Steel to Neutral and Lower Steel Producer PT and ...

  • Actavis Megabond Deal Sees Strong Demand @ Barrons.com - 8 hours ago

    The second largest corporate bond offering in history is underway as pharmaceutical company Actavis (ACT) issues $21 billion bonds Tuesday in 10 different maturities. The deal size is topped only by Verizon Communications’ (VZ) $49 billion bond sale in September, 2013, according to data from Dealogic. In many maturities, …

  • Shares of American Express (AXP) got hammered after it announced that it would no longer be Costco's (COST) exclusive credit-card company. Yesterday, we learned that Citigroup (C) would be. JPMorgan's Vivek Juneja and team think that's enough of a reason to upgrade Citigroup's shares. They explain why: We are upgrading …

  • Six REITs Ready to Rebound @ Barrons.com - 8 hours ago

    While it was a relatively uneventful fourth-quarter earnings season with few earnings disappointments, the group was down 6% over the last 30 days, 900 basis points below broader equities (S&P 500). This time around it wasn’t the fear of rising interest rates with the 10 Year Treasury up just 20 basis points, but rather …

  • FedEx: Cash is King @ Barrons.com - 8 hours ago

    Citigroup's Christian Wetherbee and team explain why they prefer FedEx (FDX) to UPS (UPS): A core point to our bullish thesis on FedEx is that execution on its plan to improve Express profitability while ...

  • Why MannKind Could Lose Half Its Value @ Barrons.com - 8 hours ago

    When Gilead Sciences (GILD) announced that it would discount Harvoni and Sovaldi by more than 40% due to its price war with AbbVie (ABBV), the hope was that the reductions would be isolated to hepatitis-c treatments. Now, however, Goldman Sachs analyst Jay Olson and team have used potential discounts as the "catalyst" …

  • Morgan Stanley suggests investors move to an underweight position in Russian equities, bonds and currency, and moved to a neutral position in South Africa. The economics, equity strategy and fixed income ...

  • When offshore drillers like Seadrill (SDRL), Transocean (RIG), Noble (NE) and Diamond Offshore Drilling (DO) first started falling, investors tried to take solace in the backlog of big contracts that had been signed with big energy companies. Unfortunately, in the world of of offshore drilling, a contract isn't always …

  • Herbalife: Reasons to Be Bullish @ Barrons.com - 9 hours ago

    It's hard to feel optimistic about Herbalife's (HLF) prospects right now, as its profits plunge amid a restructuring of its business and Bill Ackman keeps the pressure on. But if you're looking for a few ...

  • Why ExxonMobil Needs $85 Oil @ Barrons.com - 9 hours ago

    Oppenheimer analysts Fadel Gheit and Luis Amadeo explain why ExxonMobil (XOM) needs $85 oil: Based on the current strip benchmark prices for crude oil and natural gas in 2015 and 2016, we expect ExxonMobil to generate earnings of $14.7B this year and $19.3B next year, operating cash flow of $34.3B and $39.7B, and EBITDA …

  • Manufacturers of exchange-traded funds are moving fast to push out souped-up bond products designed to shield investors from the market's big, bad wolf: rising interest rates. Deutsche Asset & Wealth Management debuted three ETFs on Tuesday, each promising to deliver a sliver of the bond market with the twist of "hedging" …

  • Silicon Valley startup Pebble, which brought attention to the smartwatch world two years ago with its eponymous device, today unveiled the next leg in its response to Apple's (AAPL) forthcoming Apple Watch: a version of its device that looks conspicuously like the gold version of Apple's. The "Pebble Time Steel" is a stainless …

  • As I mentioned earlier, the category of wearable tech is somewhat buried at the Mobile World Congress show in Barcelona, which is dedicated to phones and tablets and networking equipment.

  • One day after the Nasdaq Composite closed at its highest level in 15 years, stocks look set for a lower open. Nasdaq Composite futures have fallen 0.2%, while S&P 500 futures have dropped 0.2%. Dow Jones ...

  • Boston Scientific to Halt Buybacks for Deal @ Barrons.com - 12 hours ago

    Boston Scientific (BSX:NYSE) By Wedbush ($17.08, March 2, 2015) Boston Scientific announces the acquisition of Endo International’s American Medical Systems urology portfolio for $1.6 billion in cash, and the transaction is expected to close at the end of the third quarter. The American Medical Systems (AMS) urology business …

  • Facebook (FB) founder and CEO Mark Zuckerberg was the guest speaker last night at the opening evening keynote session at Mobile World Congress, explaining to Wired editor Jessi Hempel how he can help not hurt the phone companies. The talk was a follow up to the interview onstage a year ago that Zuckerberg gave to reporter …

  • China's direct sales e-commerce JD.com (JD) reported better-than-expected fourth-quarter earnings. Revenue at JD rose 73% from a year ago to 34.7 billion yuan, 5% higher than the high-end of the 32-33 ...

  • In the near-term, interest rate cuts do not seem to influence China's stock markets as much as new IPOs. The Shanghai Composite Index slumped 2.2% today after China's securities regulator approved 12 new ...

  • What Are Chinese Tourists Buying In Japan? @ Barrons.com - 17 hours ago

    In a column published in Barron's magazine last weekend, I argued that we should skip Hong Kong and Macau and look into Japan for Chinese tourism plays. Over the same period, fewer Chinese visited Hong Kong than in the year before. Once the final figures are tabulated, Japan is expected to have welcomed about 50% more …

  • Gaming revenue in Macau fell 48.6% from a year ago, worse than December's 30% fall, but the number was better-than-expected 53.6% decline. Last week, Wall Street analysts sharply revised down their February ...

  • Traders Bet Japanese Stocks Will Zoom Higher @ Barrons.com - 19 hours ago

    Japanese equities are becoming a favorite momentum play for international investors. Trading is reminiscent of how investors once treated China when it seemed higher highs were always up ahead, and the government’s mastery of the markets and economy was unshakeable. China’s central bank just recently lowered key interest …

  • The Reserve Bank of Australia surprised the market today, keeping its benchmark interest rate unchanged at 2.25%. Before today's meeting, 18 out of 29 analysts expected a rate cut. The Australian dollar ...

  • UPDATE: Alibaba's Fake Orders Problem: WSJ @ Barrons.com - 20 hours ago

    What do you do if you are a small merchant on Alibaba Group's (BABA) C2C Taobao platform, who finds the advertising fees charged by Alibaba too expensive but wants to get recognized by the e-commerce's juggernaut search platform and make sales? The Wall Street Journal's Gillian Wong, Kathy Chu and Juro Osawa reported: …

  • Winners and Losers From China's Power Reform @ Barrons.com - 20 hours ago

    Aluminum Corporation of China (Chalco) (2600.HK) (HKD3.75, Mar. 3, 2015) Potential power reform could help Chalco cut costs. Winners and losers — According to industry experts, the power industry reform may be discussed again in the upcoming National People’s Congress (NPC) meeting and a detailed reform package could …

  • China suspended online lottery sales starting March 1. Sina's tech site reported that 38 Chinese Internet platforms, including Alibaba Group (BABA), Tencent Holdings (0700.HK/TCEHY) and Netease (NTES), ...

  • Nine Safe CCAR Picks Poised to Boost Payouts @ Barrons.com - Mon, Mar 2, 2015 6:29 PM EST

    In other words, they have all done well in recent Comprehensive Capital Analysis and Reviews (CCARs), they all have strong capital levels and risk profiles, and they all seem poised to boost total earnings payouts. We do not expect share repurchases or dividends to be part of Ally Financial’s (ALLY) submission. Coming …

  • Apple: Morgan Stanley Ups Target to $160 on Ability to Charge Premium @ Barrons.com - Mon, Mar 2, 2015 6:08 PM EST

    Shares of Apple (AAPL) rose today amidst the general enthusiasm of a Nasdaq Composite Index regain its dot-com high of 15 years ago, closing above 5,000. Apple shares closed up 63 cents, or half a percent, at $129.09.

  • It's back to the future as the Dow Jones Industrial Average and the S&P 500 hit new all-time highs today--and soon the Nasdaq Composite may be joining them, as the tech-heavy index closed above 5,000 for the first time since the dot-com boom. The Dow Jones Industrial Average rose 155.93 points, or 0.9%, to 18288.63--a …

  • For Value, Turn to Mature, Cash-Rich Tech Giants @ Barrons.com - Mon, Mar 2, 2015 5:32 PM EST

    As a pro-cyclical growth sector, mature tech also stands to benefit from secular trends in capital expenditure by U.S. companies, as well as impending demographic changes that drive consumer demand for adopting new devices, software and services. Within a fully valued U.S. market, we prefer cyclical sectors such as technology …

  • Coca-Cola Exec Caps a $12.1M Stock Sale @ Barrons.com - Mon, Mar 2, 2015 5:09 PM EST

    A Coca-Cola executive sold a few crates of stock on Feb. 26, just days after the beverage giant increased its dividend. James Quincey, president of Coca-Cola’s (ticker: KO) Europe Group, exercised options ...

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