Seeking Alpha
  • Today - Thursday, November 27, 2014

  • 4:06 AM
    | Comment!
  • 3:33 AM
    • Oil futures sank to new four-year lows overnight ahead of an OPEC meeting in Vienna, where ministers are expected to come to a decision today on whether to cut production.
    • Brent crude is down -1.4% at $76.67. WTI is down -0.8% at $73.08.
    • An announcement to cut output is growing unlikely, following Saudi Oil Minister Ali al-Naimi's statement yesterday that the oil market will "stabilize itself eventually."
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, OLEM, TWTI
    | Comment!
  • Wednesday, November 26, 2014

  • 4:33 PM
     
    • The Nasdaq led a modest pre-holiday rally, closing higher by 0.6% behind sizable moves in chip stocks and Internet names. The S&P 500 gained 0.3% and the Dow added 0.1%.
    • Economic data - New Home Sales, Durable Goods, Initial Jobless Claims, Consumer Sentiment, Mortgage Applications - all came in weaker than expectations, helping the 10-year Treasury yield dip two basis points to 2.34%. WTI crude oil held steady for the session at a four-year low of $73.62 per barrel.
    | Comment!
  • 12:13 PM
    • GoPro (GPRO +3.7%) "plans to start selling multi-rotor helicopters equipped with high-definition cameras late next year, aiming for a price tag between $500 and $1,000," sources tell the WSJ.
    • As it is, GoPro's cameras are often mounted onto drones sold by third parties. The report comes as a top consumer drone maker, China's DJI, begins selling drones featuring its own cameras instead of GoPro's.
    • A drone product launch would mesh with GoPro's ambitious online video efforts: Though the consumer drone market is still in its infancy, YouTube is already full of popular videos of drone footage.
    • GoPro has spiked following the report, adding to the gains it saw today thanks to Piper's note.
    | 18 Comments
  • 11:32 AM
    • Though H-P's (NYSE:HPQ) FQ4 revenue missed estimates and fell 2.5% Y/Y, margins "increased Y/Y in all businesses as cost cuts flowed through more so than in past quarters," notes Morgan Stanley, reiterating an Overweight. "We continue to like the risk:reward at just 8x FY14 reported [free cash flow]."
    • Barclays (Overweight) feels likewise: "Though revenues need to come down a bit due to currency, we believe each business is showing some gross margin progress. With the buyback picking up and the model basically intact, we see room for further appreciation in the shares due to valuation."
    • Those less positive, such as BMO (Market Perform), are worried about top-line pressures. "While HP's compares were difficult, we nevertheless believe that, for the stock to work, HP needs to demonstrate improved revenue growth ... we project revenues to decline in FY2016."
    • On its CC (transcript), H-P reiterated its FY15 FCF guidance of $6.5B-$7B, and said it plans to "make up" for the fact it didn't return 50% of FY14 free cash flow to shareholders in FY15. FY14 FCF was $9.3B, of which $3.9B was returned.
    • Meg Whitman noted H-P continues to gain PC share, and has seen its x86 server ops get a lift from the IBM/Lenovo deal. On the other hand, the company is seeing printing price pressure as rivals take advantage of a weak yen, storage has been hurt by a demand shift from high-end to mid-range systems, and enterprise services was hit in FQ4 by account revenue run-off and EMEA weakness.
    • FQ4 results, guidance/details
    | 2 Comments
  • 10:02 AM
     
    • Oct New Home Sales: +0.7% to 458K vs. 470K expected, 455K prior (revised from 467K).
    • Median sales price $305,000.
    | 1 Comment
  • 10:01 AM
     
    | Comment!
  • 9:45 AM
     
    | Comment!
  • 8:30 AM
     
    | Comment!
  • 8:30 AM
     
    • Initial Jobless Claims: +21K to 313K vs. 286K consensus, 292K (revised from 291K) prior.
    • Continuing Claims -17K to 2.32M.
    | 4 Comments
  • 7:17 AM
    | 2 Comments
  • 7:04 AM
     
    • MBA Mortgage Applications:
    • Composite Index: -4.3% vs. +4.9% last week.
    • Purchase Index: -10% vs. +12%.
    • Refinance Index: -4.0% vs. -6%.
    • Fixed 30-year mortgage rate ticks down to 4.15% from 4.18%
    | Comment!
  • 5:10 AM
    • The European Central Bank will be able to gauge in the first quarter of next year whether it needs to start buying sovereign bonds to stimulate the euro zone economy, announced ECB Vice President Vitor Constancio this morning.
    • The new comments are the clearest indication yet to the exact timing of future QE.
    • The ECB has already begun buying covered bonds and ABSs, aiming to increase the size of its balance sheet to levels seen in early 2012 - around €1T higher than its level today.
    • The euro is -0.2% at $1.2455.
    • ETFs: VGK, FEZ, IEV, EU, EPV, EUFN, EZU, HEDJ, FEU, FEP, UPV, ADRU, FEEU, EURL, EURZ, DBEU, FIEU
    | Comment!
  • 4:34 AM
    • Talks between Saudi Arabia, Venezuela and oil powers Russia and Mexico yesterday did not yield an agreement on how to address the growing oil glut ahead of OPEC's meeting tomorrow, Reuters reports.
    • Venezuelan Foreign Minister Rafael Ramirez told reporters after the talks that while all sides agreed current prices were "not good," no coordinated output cuts were arranged.
    • Brent crude is trading well below $80 a barrel, down -0.2% at $78.15. West Texas Intermediate is down -0.4% at $73.83.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, OLEM, TWTI
    | 4 Comments
  • 3:00 AM
    • The House subcommittee on energy and power, chaired by Representative Ed Whitfield, will hold a hearing on Dec. 11 over whether Washington should lift its nearly 40-year crude oil export ban.
    • "We need to take a comprehensive look at where we came from, where we are today, and where we want to go from here," said Whitfield.
    • The debate will come into sharper focus in January, when Republicans take over leadership of both the House and Senate.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, OLEM, TWTI
    | 2 Comments
  • 1:54 AM
    • The U.S. Justice Department is investigating whether an HSBC (NYSE:HSBC) employee leaked confidential client information to a major hedge fund.
    • The alleged leak is believed to have taken place in March 2010, while the bank was advising Prudential on a huge acquisition and was working on a related multibillion-dollar currency transaction.
    • The probe comes as HBSC pleads guilty to charges that its Swiss private banking unit helped Americans evade taxes. HSBC will pay $12.5M to settle those claims.
    | 1 Comment
  • Tuesday, November 25, 2014

  • 1:13 PM
    • The Information reports Yahoo (YHOO - unchanged) and search partner Microsoft (MSFT +0.5%) are aggressively trying to sell Apple on replacing Google (GOOG +0.6%) as the default search engine for the Safari browser (pre-installed on all iOS/Mac OS hardware) when its Google deal expires in 2015.
    • Apple, which naturally views Google as a major rival, already dropped Google as iOS and Mac OS' Spotlight search provider this year in favor of Bing. Yahoo, meanwhile, is less than a week removed from announcing it has displaced Google as Firefox's default U.S. search provider; Google is still the default provider in Europe.
    • The Firefox deal suggests Google is willing to walk away from default search agreements if Yahoo/Microsoft (hungry to grow their scale) significantly undercut its revenue-sharing terms, betting much of its base will keep using Google regardless. Macquarie has estimated Google provides Apple with a 75% cut on Safari-driven iOS search ad revenue.
    • On iOS, users could keep relying on Google search in the event of a Yahoo deal by manually selecting Google as their Safari search option (should Yahoo become the default), or by using Google's popular search and Chrome apps. StatCounter estimates Google had a 92.2% October mobile/tablet search share to Yahoo and Bing's combined 6.5%.
    | 29 Comments
  • 10:02 AM
    • Apple's (AAPL +0.5%) market cap is now nearly $300B larger than that of Exxon Mobile, the world's second-most valuable company. Shares +49% YTD; they trade for 13x FY15E EPS exc. net cash.
    • Stifel's Aaron Rakers has hiked his target to $130 from $115 this morning, citing Apple Watch's growth potential. He respectively forecasts Watch revenue of $9.6B and $13.1B in calendar 2015 and 2016 on shipments of 19.6M and 27.8M.
    • Yesterday: Apple breaks highs following new bullish notes
    | 42 Comments
  • 10:01 AM
     
    | 2 Comments
  • 9:06 AM
     
    | Comment!
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector