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Financial News from Barrons.com

  • Intuitive Surgical: To Buy or Not to Buy? @ Barrons.com - 34 minutes ago

    There was nothing robotic about today's earnings beat from Intuitive Surgical (ISRG). Intuitive Surgical's revenue came in at $507 million, not including swap program, trumping forecasts for $501.7 million. Stifel's Rick Wise and team say now is the time to but shares of Intuitive Surgical: We are upgrading Intuitive …

  • How good were Biogen Idec's (BIIB) earnings? Biogen also lifted its full-tear guidance to a range of $12.90 to $13.10, well above $11.35 to $11.45. ISI Group's Marck Schoenbaum notes that Biogen's beat was its biggest in at least ten years: In case you are interested, biotech earnings season began in earnest today as …

  • Gold: Weak Asian Demand Not a Problem, For Now @ Barrons.com - 1 hour 3 minutes ago

    This week brings a dual letdown from China and India. The other is the apparent inability of Indian officials to ease gold import restrictions. Commerzbank's commodity strategists see little extra oomph for gold's price from either country: After it became clear that Chinese gold demand is continuing to falter ... gold …

  • Indonesia: A Winner; What's Next? A Rally? @ Barrons.com - 1 hour 52 minutes ago

    Finally, Indonesia's presidential election has announced a winner. Jakarta Governor Joko Widodo, or Jokowi, was declared the next president, taking 53% of the vote, or a margin of 8 million votes. The Jakarta Index has largely traded flat since Indonesians went to the polls two weeks ago. So is the iShares MSCI Indonesia …

  • Shares of Puma Biotechnology (PBYI) have more than tripled after strong results for its breast cancer treatment in a drug trial. Leerink's Howard Liang and team explain why: Although we did not see a positive neratinib ExteNET outcome in adjuvant breast cancer (met both primary and second endpoints with statistical significance) …

  • Shares of Microsoft (MSFT) are up 20 cents, or 0.4%, at $45.03, following yesterday afternoon's report better-than-expected fiscal Q4 revenue, and despite a miss on the bottom line.  The highlight on the conference call following the report was for many the discussion of how Microsoft will balance investment in R&D with …

  • Shares of Apple (AAPL) are up 69 cents, or 0.7%, at $95.41, reversing initial losses yesterday following the company's report of fiscal Q3 results that missed analysts' estimates for revenue but beat on the bottom line thanks to a higher-than-expected gross profit margin.  The quarter's sales were marked by higher-than-expected …

  • Biogen Earnings Kickoff a Boost to Biotech ETFs @ Barrons.com - 2 hours 27 minutes ago

    It comes in the form of Biogen Idec's (BIIB) kickoff to biotech earnings season. Biogen beat both Wall Street's sell-side and (so he believes) buy-side expectations, Mark Schoenebaum of ISI Group tells clients by email this morning: 2Q strength was well rounded, but led by Tecfidera (ex-US sales were a really nice surprise …

  • Himax: China 3G, Samsung Slowdown; Chardan Lowers TP @ Barrons.com - 2 hours 48 minutes ago

    Chardan Capital Markets analyst Jay Srivatsa is more convinced than ever of his Sell thesis in display manufacturer Himax Technologies (HIMX) after a poor reading of China's 3G subscriber growth and Samsung Electronics's (SSNLF) earnings. Weak 3G subscriber growth in China continued into June, as Chinese upgrade directly …

  • China's tutoring services provider New Oriental reported better-than-expected earnings but guided a second weak sales outlook, sending its shares down 13.2% yesterday. Earnings was $0.27 per share, above the consensus estimate of $0.24. Operating margin for the whole year (New Oriental just had a fiscal close) improved …

  • Stocks look set to keep the good times rolling following yesterday's rally. S&P 500 futures have gained 0.2%, while Dow Jones Industrial Average futures have risen 0.1%. Nasdaq Composite futures have advanced ...

  • Convenience stores may not call to mind much more than gas and snacks, but CST Brands, one of the largest operators, could ring up impressive gains for investors. In the March quarter, margins jumped 19% to 10 cents per gallon, from the same period a year ago.

  • [$$] Allergan Leaves Investors Smiling @ Barrons.com - 5 hours ago

    Allergan (AGN:NYSE) By Sterne, Agee & Leach ($171.14, July 22, 2014) We are raising our price target for Buy-rated Allergan to $195 from $185 and increasing our earnings per share and revenue numbers for 2014 and 2015. We remain buyers of Allergan (AGN) given the amount of value management has been able to generate for …

  • VMware: Signs of Life in Q2 NSX, vSAN Results @ Barrons.com - 12 hours ago

    VMware (VMW) CFO Jonathan Chadwick was kind enough to spend a few minutes this evening on the phone to discuss company's report of better-than-expected Q2 results and in-line outlook for revenue. VMware has two more recent products that take it beyond its traditional bailiwick in software for server virtualization. They …

  • Stocks Rise as Fundamentals Trump Fear @ Barrons.com - 18 hours ago

    Fundamentals trumped geopolitical concerns today--and the stock market was better for it. The S&P 500 rose 0.5% to 1,983.53, while the Dow Jones Industrial Average gained 0.4% to 17.113.54. The Nasdaq Composite advanced 0.7% to 4,456.02 and even the small-company Russell 2000 climbed 0.8% to 1,156.15. Still, Wells Capital …

  • Ned Davis Research's ETF strategists are advising clients to cut back holdings in the most popular junk-bond ETFs. In a report this week entitled "High Yield Spreads Not Worth It," the firm's ...

  • Apple (AAPL) this afternoon reported fiscal Q3 revenue that missed analysts' expectations, earnings per share that topped consensus, and offered a Q4 revenue view that missed expectations. Gross profit margin came in higher than expected, at 39.4% versus some Street estimates of around 37% to 38%. Apple ended the quarter …

  • Programmable chip maker Xilinx (XLNX) this afternoon reported fiscal Q1 revenue that missed analysts' expectations but beat on the bottom line, and forecast results this quarter below consensus. Revenue ...

  • High yield bonds are stuck in a bit of a rut. Today Michael Contopoulos, high yield credit strategist at Bank of America Merrill Lynch takes the market's temperature and says investors shouldn't worry too much: We believe the main reason for the recent high yield selloff is negative publicity and concerns permeating the …

  • Bill Ackman and his team of presenters recently wrapped up their talk about Herbalife (HLF), speaking for over three hours about the company, which Ackman called an "ingenious fraud." Ackman reiterated his stance that Herbalife is a pyramid scheme, and discussed the results of his team's extensive undercover research from …

  • Chip maker Broadcom (BRCM) this afternoon reported Q2 revenue that fell short of analysts' expectations, but earnings per share that topped consensus. Revenue in the three months ended in June rose to ...

  • Juniper Networks (JNPR) this afternoon reported Q2 revenue and earnings per share that topped analysts' expectations. Revenue in the three months ended in June rose to $1.23 billion, yielding EPS of 40 ...

  • Microsoft (MSFT) this afternoon reported fiscal Q4 revenue that topped analysts' estimates, but and earnings per share that fell short. Microsoft said the acquisition of the former Nokia (NOK) mobile devices business contributed $1.99 billion of revenue but reduced profit by 8 cents, with an operating loss of $692 million. …

  • Video game maker Electronic Arts (EA) this afternoon reported fiscal Q1 revenue taht topped analysts' estimates, and delivered a surprise profit per share where the Street was expecting a loss. Revenue ...

  • Enterprise virtualization software maker VMware (VMW)  this afternoon reported fiscal Q4 revenue and earnings per share that topped analysts' estimates. Revenue in the three months ended in June rose to ...

  • Strong engagement data is propelling Facebook into Wednesday's second-quarter earnings report. The social media company's market share of all time spent on the Internet was about 18% in June for desktops, and 20% for mobile devices, according to comScore data cited by JPMorgan research. Doug Anmuth, who follows Facebook …

  • Walter Piecyk of BTIG  Research this afternoon reminds readers in his latest note that he is "not big on EPS previews," but nevertheless decides to preview what he expects from Apple's (AAPL) fiscal Q3 report after the bell. Piecyk thinks Apple will report slightly short of estimates, perhaps $1.22 per share in income …

  • As earnings season rolls onward, InsiderScore released a new report that zeroed in on three companies slated to report this week that were on the receiving end of some insider buying during the quarter. First up is Pinnacle Entertainment (PNK). CEO Anthony Michaal Sanfilippo bought 23,000 shares of the Las Vegas-based …

  • Buying ETFs: Why It Pays to Do Your Homework @ Barrons.com - 20 hours ago

    One fund—the SPDR S&P Biotech ETF (XBI)—tracks an equal-weighted index of biotech companies, which means it skews toward small-cap companies: The average market cap of its holdings is just $7.8 billion. XBI is up just 13.69 percent in the past year.

  • Pacific Crest Securities TripAdvisor, Amazon.com and HomeAway report this week. TripAdvisor (TRIP) will likely maintain guidance, while Amazon's (AMZN) and HomeAway's (AWAY) earnings guidance could be light of consensus. TripAdvisor reports results Wednesday afternoon. We forecast revenue and earnings per share of $323.2 …

  • Allergan: Waiting for a Deal @ Barrons.com - 21 hours ago

    UBS analyst Marc Goodman explains why he raised Allergan (AGN) to Buy from Neutral following yesterday's financial results and cost-cutting moves: Investors have been waiting for 2 Allergan events: a restructuring and an accretive deal. Can Allergan create close to as much ST value as Valeant (VRX) can with its cost cuts? …

  • A robust second quarter is leading cable giant Comcast higher Tuesday. Comcast is "hitting on all cylinders," says Paul DeSisto, senior portfolio manager at M&R Capital Management, who applauds the better-than-expected earnings. Early Tuesday, Comcast (CMCSA) reported earnings of $1.99 billion, or 76 cents a share, up …

  • A word of caution today amidst general jubilation regarding Apple's (AAPL) fiscal Q3 report this afternoon comes from BGC Partners's Colin Gillis, who writes in a haiku that "the product refresh, may delay new sales and draw, inventory down." Gillis, who has a Hold rating on the shares, lists principally among his many …

  • Microsoft (MSFT) shares are up 10 cents at $44.93 as the company rolls toward its fiscal Q4 report this afternoon, after the closing bell. The Street is bracing for more insight into a number of moving parts for Microsoft, including the announcement last week of 18,000 layoffs, and the first quarter in which Microsoft …

  • McDonald's: Not Lovin' It @ Barrons.com - 22 hours ago

    McDonald's (MCD) investors are definitely not loving it. Shares of McDonald's have slipped more than a percent today after the fast-food giant said it earned $1.40 a share, missing forecasts for $1.44,  ...

  • [$$] SunTrust Shares May Settle Down @ Barrons.com - 22 hours ago

    SunTrust Banks (STI: NYSE) By Evercore ($39.28, July 21, 2014) We are downgrading SunTrust banks to Equal-Weight from Overweight following share outperformance, and our expectation for net-interest-margin ...

  • Here are some things going on today in your world of tech: Shares of Netflix (NFLX) are down $23.22, or 5%, at $428.73, giving back after-hours gains, after the company yesterday afternoon reported in-line Q2 results and forecast profit this quarter below consensus. Estimates for profit have now been cut, with the average …

  • When Big is Beautiful: Megacaps Break Out @ Barrons.com - 23 hours ago

    The S&P 100, the index of the market's truly giant stocks such as Apple (AAPL) and Exxon Mobil (XOM), is showing signs of life versus the plain-vanilla S&P 500. The attached chart from Bank of America Merrill Lynch technicians Stephen Suttmeier and Jue Xiong show how these giant stocks are breaking resistance versus their …

  • Chipotle Mexican Grill: The Next Starbucks? @ Barrons.com - 23 hours ago

    Yesterday, we highlighted the spectacular second-quarter earnings from fast-casual giant Chipotle Mexican Grill (CMG). The company beat on earnings and revenue forecasts and shares went crazy in response. Analysts lined up with positive fodder faster than customers line up at their local franchise during lunchtime and …

  • Saudi Arabia, whose stock market has been off-limits to outsiders, said today it would allow foreign investors to buy and sell shares starting next year, through a Qualified Foreign Investors program (QFIs) ...

  • [$$] Three Airline Picks Ahead of Earnings @ Barrons.com - Tue, Jul 22, 2014 11:15 AM EDT

    Evercore Volatility in U.S. airline stocks has increased recently following negative pre-announcements by European airlines in mid-June, softer June month unit revenue versus high expectations for Delta ...

  • MLP Governance Structure Puts Investors At Risk -- Moody's @ Barrons.com - Tue, Jul 22, 2014 11:04 AM EDT

    Master-limited partnerships are a favorite sector for yield-hungry investors these days, but Moody's Investors Service warns today that the corporate governance structure of MLPs provides less protection to investors and creditors than the structure of a typical public company, calling this a credit negative for the MLP …

  • Coca-Cola Beats Earnings, Faces 'Considerable Headwinds' @ Barrons.com - Tue, Jul 22, 2014 10:52 AM EDT

    Poor Coca-Cola (KO). Just when it looked like momentum was building, it had to go and release financial results that the market has found lacking. Coca-Cola said it earned 64 cents a share, beating estimates ...

  • This morning, the WisdomTree India Earnings Fund (EPI) was up 1.2%. The iShares MSCI India ETF (INDA) rose 1.6%. Investors are becoming uncomfortable with India's valuation, as my colleague Assif Shameen pointed out in the Asia Trader column published on July 12. MSCI India now trades at 16.3 times forward earnings, …

  • Apple FYQ3 On Tap: All Eyes on iPhone Upside @ Barrons.com - Tue, Jul 22, 2014 10:34 AM EDT

    Shares of Apple (AAPL) are up 40 cents at $94.34, as the Street prepares for this afternoon's fiscal Q3 report, after the closing bell. Although analysts are aware of the high possibility Apple's sales of the iPhone may have been held back by anticipation of a new, larger-screen model coming, presumably, in couple of months, …

  • Apache: Not a 'Hard Conversation' With Jana, Deutsche Bank Says @ Barrons.com - Tue, Jul 22, 2014 10:28 AM EDT

    Last night, activist investor Jana Partners disclosed a sizable stake in Apache (APA) and said it would encourage Apache to focus on its US business. Deutsche Bank's Stephen Richardson and team don't think it will be a "hard conversation." They explain why: Apache management has been active over the past 12+ months managing …

  • Comcast Rising on Q2 EPS Beat; Cable Broadband Shines, Says Evercore @ Barrons.com - Tue, Jul 22, 2014 10:03 AM EDT

    Shares of Comcast (CMCSA) are up 79 cents, or 1.5%, at $54.61, after the company this morning missed analysts' Q2 revenue estimates but beat on the bottom line, saying it saw "another excellent quarter" of cash flow growth at its NBC-Universal division. Comcast produced $1.16 billion of free cash flow in the quarter, it …

  • Tesla Motors: What to Expect When You're Expecting Earnings @ Barrons.com - Tue, Jul 22, 2014 10:03 AM EDT

    Tesla Motors (TSLA) has gone up, it's gone down, but its shares are pretty much right back where they were five months ago. JPMorgan's Ryan Brinkman and team look into their crystal ball and tell investors what to expect from Tesla's second quarter earnings: We continue to forecast 2Q deliveries of 7,800 units;

  • Price Fears Galore, and Not Much Inflation @ Barrons.com - Tue, Jul 22, 2014 9:41 AM EDT

    SPDR Gold Trust (GLD) is about flat in early trading. "[T]here is, unlike what's been seen in recent years, a general fear in markets of higher inflation," writes BTIG Group's Dan Greenhaus in an immediate reaction by email. ... Inflation is "improving" from low levels but isn't yet running "too hot." When the Fed meets …

  • China Internet: Mobile Rises, Microblogging Falls @ Barrons.com - Tue, Jul 22, 2014 9:29 AM EDT

    According to data provided by China Internet Network Information Center, a non-profit group with official ties, in the first half of 2014, China's Internet users reached 632 million, an increase of 14.4 million from the end of 2013. The total number of mobile users reached 527 million, or 83.4% penetration rate. By comparison, …

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