The latest news round up for trade-able items on the First Global Credit platform, covering:
- Cisco Systems
Amazon.com, Inc (NASDAQ:AMZN)
Online marketplace Amazon.com Inc made its debut in the 2015 Thomson Reuters Top 100 global innovators list, leaving International Business Machines Corp , the world’s largest technology services company, out of the list.
Amazon joins the innovators list for the first time for innovations in data centers, devices, electronic methods and systems, according to its latest report.
The Thomson Reuters Top 100 global innovators program identifies innovators annually through an in-depth analysis based on a series of patent-related metrics that analyze what it means to be truly innovative.
There are 27 companies that are dropped from the list this year, including AT&T , IBM , Siemens and Xerox .
“For IBM, although they regularly top the list of U.S. patentees by volume of patents each year, the Top 100 Global Innovators listing evaluates not just volume, but also success, globalization and impact,” said Bob Stembridge, analyst with Thomson Reuters IP & Science.
Bitcoin (BTC/USD) bounced back on Thursday from one of its sharpest drops of the year, gaining 16% to $345 on Bitstamp.
The bounce reverses the inertia of a fall that saw bitcoin shed 23% in just under 48 hours. It breached the psychologically significant $300 barrier, hitting a 2-week low of $294 before reversing higher.
During the first leg of the drop 20 hours earlier, bitcoin hit $300 on multiple exchanges, but then the selling paused.
It was bitcoin’s first time trading below $300 this month, undoing the last the milestones that it achieved during the rally to above $500. These included entering positive territory in 2015 after 10 months, as well as the 52-week return turning positive.
Today’s sharp rise continues what was an unexpected burst of volatility after the calmest 9 months of trading since bitcoin’s inception. The volatility is likely to continue until some new equilibrium is reached. According to reports that bitcoin’s price was dragged higher by Chinese investors flocking to a Russian Ponzi scheme, this equilibrium may be lower than the current levels.
Should the decline continue, the bubble would resemble that of November one year ago, after which bitcoin’s declines continued through to the end of the year.
The recent slump was roughly aligned with that in US equity markets over the past three days, albeit on another scale of magnitude. The October rise and August drop are other examples of close correlation.
Cisco Systems, Inc (NASDAQ:CSCO)
Facebook Inc., operator of the social media network Facebook, has jumped ahead of Drexel Hamilton restated their buy rating on shares ofCisco Systems (NASDAQ:CSCO) in a research note published on Tuesday morning, ARN reports. They currently have a $35.00 price objective on the network equipment provider’s stock.
Several other brokerages also recently weighed in on CSCO. Macquarie assumed coverage on shares of Cisco Systems in a research report on Monday, August 3rd. They issued an underperform rating and a $26.00 price objective on the stock. Morgan Stanley cut shares of Cisco Systems from an overweight rating to an equal weight rating and upped their target price for the company from $29.03 to $30.00 in a report on Monday, August 17th. They noted that the move was a valuation call. Barclays initiated coverage on shares of Cisco Systems in a research note on Wednesday, October 14th. They set an overweight rating and a $32.00 price target for the company. Wells Fargo restated a buy rating on shares of Cisco Systems in a research note on Tuesday, August 4th. Finally, Citigroup Inc. began coverage on shares of Cisco Systems in a report on Tuesday, October 6th. They issued a buy rating and a $30.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Cisco Systems currently has an average rating of Buy and a consensus price target of $32.35.
Hasbro, Inc (NYSE:HAS)
Hasbro (NYSE:HAS)‘s stock had its “overweight” rating restated by equities research analysts at Piper Jaffray in a research report issued on Monday. They presently have a $85.00 price target on the stock. Piper Jaffray’s price objective indicates a potential upside of 8.18% from the stock’s previous close.
A number of other brokerages have also weighed in on HAS. Wells Fargo lowered Hasbro from an “outperform” rating to a “market perform” rating in a research note on Monday, July 20th. BMO Capital Markets downgraded shares of Hasbro from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $80.00 to $88.00 in a report on Tuesday, July 21st. They noted that the move was a valuation call. Monness Crespi & Hardt increased their price objective on shares of Hasbro from $82.00 to $93.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. MKM Partners increased their price target on shares of Hasbro from $72.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Finally, Goldman Sachs increased their price objective on shares of Hasbro from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $80.60.
Intuit, Inc (NASDAQ:INTU)
Intuit Inc. shares are trading higher by $1.58 at $100.46 in Wednesday’s session. The issue has battled its way back from the drubbing it took following its Q4 loss on lower than expected revenues by $40 million. The report instigated a decline from its August 20 close ($102.92) to $89.28. Two days later, it bottomed at $79.63 and began its comeback.
After a higher open, it retreated and found support just below Tuesday’s close ($98.88), reaching $98.78 before resuming the rally. So far, it has reached $100.63 and is not far off that level.
The company will announce 2016 Q1 earnings on November 19.
Microsoft Corporation (NASDAQ:MFST)
Vetr cut shares of Microsoft (NASDAQ:MSFT) from a hold rating to a sell rating in a report published on Tuesday morning. Vetr currently has $53.02 price target on the software giant’s stock.
In related news, Director William H. Gates III sold 2,000,000 shares of Microsoft stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $53.92, for a total transaction of $107,840,000.00. Following the transaction, the director now owns 218,992,934 shares in the company, valued at approximately $11,808,099,001.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Christopher C. Capossela sold 29,000 shares of Microsoft stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $53.59, for a total transaction of $1,554,110.00. Following the transaction, the chief marketing officer now owns 300,809 shares in the company, valued at approximately $16,120,354.31. The disclosure for this sale can be found here.
Other equities analysts have also issued research reports about the company. Cowen and Company reaffirmed a hold rating and set a $49.00 price target on shares of Microsoft in a research note on Tuesday, October 6th. Piper Jaffray reiterated a buy rating and issued a $53.00 price objective on shares of Microsoft in a report on Tuesday, July 21st. Barclays lowered their price target on Microsoft from $53.00 to $51.00 and set an overweight rating for the company in a report on Wednesday, July 22nd. Deutsche Bank reaffirmed a buy rating on shares of Microsoft in a research report on Sunday, October 25th. Finally, FBR & Co. reissued an outperform rating and set a $53.00 price target on shares of Microsoft in a research report on Wednesday, September 30th. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $52.92.
Netflix, Inc (NASDAQ:NFLX)
Netflix was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Monday. The brokerage presently has a $125.96 price objective on the Internet television network’s stock. Vetr‘s price objective points to a potential upside of 11.61% from the stock’s previous close.
A number of other research analysts have also weighed in on the company. FBN Securities restated an “outperform” rating and issued a $125.00 target price (down previously from $130.00) on shares of Netflix in a research note on Sunday, October 18th. Goldman Sachs restated a “buy” rating and issued a $140.00 target price on shares of Netflix in a research report on Saturday, October 17th. William Blair reaffirmed an “outperform” rating and issued a $128.00 price target on shares of Netflix in a report on Saturday, October 17th. Barclays reissued an “equal weight” rating and set a $115.00 target price on shares of Netflix in a research note on Saturday, October 17th. Finally, Oppenheimer restated a “buy” rating on shares of Netflix in a research report on Friday, October 16th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Netflix currently has an average rating of “Buy” and a consensus price target of $121.30.