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NEW YORK, October 29, 2013 /PRNewswire/ --
Market Buzz Report comments and updates for multiple major sectors, earnings and stock upgrades: Facebook Inc (NASDAQ: FB), Sirius XM Radio Inc(NASDAQ: SIRI), Apple Inc. (NASDAQ: AAPL), Bank of America (NYSE: BAC), Microsoft Corporation (NASDAQ: MSFT).
Facebook Inc. (NASDAQ: FB): Investor concerns over the number of overfunded tech firms may have mitigated in the last few months but new information about snapchat may renew the word about tech bubble again. Social networking giant Facebook made an offer of $1 billion for acquiring photo-sharing app Snapchat but the company CEO Evan Spiegel turned down the offer.
Is FB a Solid Buy Ahead of Earnings? Get Free Special Report http://marketbuzzreport.com/index.php?code=FB
The figure $1 billion may seem to be familiar as the firm paid an equal amount for acquiring photo-sharing app, Instagram last year. The deal was stated as a move which may strengthen Facebook's staying power as users are now getting tired talking about their lives on blogs and instead just share photos through mobile apps. Snapchat claims to send 350 million photo messages per day which may help social networking giant get market share on photo-sharing apps
Some reports suggest that young users are beginning to lose interest in the site. If reports turn out to be true, then SnapChat would be one of the start-ups which were purchased despite not having no significant revenue.
Earlier, even Twitter was sidelined as a tech bubble but it has become an essential part of media landscape and has also filed for an IPO which puts the value of the firm at $11 billion.
Sirius XM Radio Inc (NASDAQ: SIRI) hit a fresh six-year high in the week but its stock slumped after it came out with disappointing quarterly results and the stock is plummeting after Goldman Sachs downgraded the stock.
Is SIRI Ready To Bounce Back After The Recent Profit Booking? Get Free Trend Analysis Here http://marketbuzzreport.com/index.php?code=SIRI
Goldman's Matthew Niknam has a 12-month target of $4.25. Niknam opined that the stock may become cheaper in near term. On the other hand, FBR Capital Markets has given a price target of $5.50 price target and feels there is an upside to the stock for a year.
Apple Inc. (NASDAQ: AAPL) reported its earnings Monday afternoon to the dismay of many long term investors hoping for a turnaround in the company after 3 consecutive quarters of earning declines. This especially after Iphone and new device sales have soared beating Wall Streets fourth fiscal quarter expectations.
Apple Inc's earnings will probably have minimal effect in the long term, as the company's future should not be determined by yesterday afternoon's earning release. Though the companies 3 month rally in price per share may have taken a hit the future still looks bright for this blue chip company.
Will AAPL Continue Its Momentum After Its Earnings Release? Get Free Trend Analysis http://marketbuzzreport.com/index.php?code=AAPL
The robust lending agency, Bank of America Corp (NYSE: BAC), may lay off around 4,000 employees due to the gloomy scenario of the mortgage market.
Other players such as Wells Fargo and Company, Citigroup as well as JPMorgan Chase & Co had announced layoffs in mortgage unit during the year. On the other hand, Bank of America had given termination notice to over 1200 employees in the mortgage fulfillment division which is responsible for processing refinancing activities and new mortgages.
The firm is also looking to ask another 3000 employees to leave by year end in the asset servicing division. The layoffs would affect employees in California, Texas and Florida. The retrenchment is besides 1700 job cuts announced in August.
How Should Investors Trade BAC After The Recent Movement? Find Out Herehttp://marketbuzzreport.com/index.php?code=BAC
During financial crisis, bank's mortgage refinancing business was enhanced by low interest rates. But, with improvement in economy the interest rates surged making mortgage loans expensive. Besides this, real estate property prices also increased making it expensive for investors to invest in property, taking new mortgage loans as well as refinancing activities a step backwards.
Volatile market conditions, strict regulatory norms and less scope for revenue growth have forced a lot of banks to cut costs through measures such as layoff as well as closure of business units.
Software giant Microsoft Corporation (NASDAQ: MSFT)'s shares were up as the firm beat quarter one fiscal expectations and stated that it was witnessing stabilization in corporate side of PC market.
The firm has given projections of quarter-over-quarter growth in commercial and consumer license revenue as well as an increase in hardware revenue as it brings on "Xbox One" game console in the market in next month.
Is MSFT a Strong Buy After The Solid Earnings? Find Out Here http://marketbuzzreport.com/index.php?code=MSFT
Nomura Equity Research's Rick Sherlund has given a Buy rating on the stock and has increased price target to $40. He stated that Office productivity suite may see reduction in by $150 million due to customers shifting to the hosted version, Office 365.
Sherlund opined that growth will come from Nokia handsets as well as Xbox. He increased revenues for the next fiscal to $88.5 billion from $85.24 billion and has given EPS estimate to $2.56 from $2.49.
UBS's Brent Thill has also given a Buy rating with price target of $40 stating that it is better than other IT firms in the quarter.
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