The Verge reported that Microsoft (NASDAQ:MSFT) will debut next week the Xbox 360, Kinect bundle for $99 with contract.The console package will include a monthly 2-year subscription, which will include early termination fee.Microsoft is positioning its console package to compete against Apple TV (NASDAQ:AAPL), Roku and Playstation 3 (NYSE:SNY). Microsoft is currently trading down $3.21 at $452.69.
According to reports, private equity firm Carlyle Group is planning on pricing its IPO in a range of $22 – $23.The company had previously given a range of $23 – $25.The Wall Street Journal reported earlier that Carlyle was working to convince investors their case would be different from its competitors whose shares have struggled since having their IPO.The WSJ said that Carlyle was emphasizing the prospect for shares to rise over time rather than on pricing shares at a high when it launches its IPO.
Shares of Amazon.com (NASDAQ:AMZN) are trading 0.3% higher after the company announced SAP (NYSE:SAP) chose it to host its Afaria mobile offering on the internet, which will provide its customers with a cheaper way of managing employees’ smartphones and tablet computers.
No good news when it comes to new jobs this morning. Automatic Data Processing Inc., or the ADP, reported private-employment gains in April of 119,000. This is the lowest result since September, a very grim outlook considering the average private sector growth comes in at 200,000 jobs in the month.These results usually provide an outlook to what the April jobs report from the Labor Department will be. Economists are expecting the Friday report to say U.S. nonfarm-payroll employment rose by 163,000 in April. That is compared to a 120,000 rise in March. Economists anticipate the unemployment rate to remain at 8.2%
Regal Entertainment Group (NYSE:RGC) was upgraded from Hold to Buy at Stifel Nicolaus today. The stock closed yesterday at $13.70 on volume of 3.8 million shares, above average daily volume of 1.8 million.Regal Entertainment Group (NYSE:RGC) has potential upside of 12.3% based on a current price of $13.70 and analysts’ consensus price target of $15.38. The stock should find initial support at its 50-day moving average (MA) of $13.57 and further support at its 200-day MA of $13.06.
CNN Money reports that AMAZON will be adding a new side to their multi-faceted business. Leveraging their dominant exposure, Amazon is set to start producing network tv quality television shows, with professional budgets. They aim to bring streaming original comedy and children’s content to their audience, all original material. Amazon plans to solicit original scripts in these two genres, and if one is optioned, the creater gets $10,000, if it is made into a series, the creator gets $55,000 and up to 5% residuals. While most companies would be discouraged from branching out into this new media territory, Amazon should be just fine, leveraging, among other assets, Joe Lewis, a long time Hollywood name, who brings his years of experience from Comedy Central, 20th Century Fox, and a cloud based tv station called, BARK Industries. That’s all for now, but for more updates, keep it right here, to the financial news network online.
World Fuel Services (NYSE:INT) was downgraded from Buy to Neutral at SunTrust today. The stock closed yesterday at $43.70 on volume of 733,000 shares, above average daily volume of 531,000.Potential upside of 22.4% exists for World Fuel Services, based on a current level of $43.70 and analysts’ average consensus price target of $53.50. The stock should discover initial support at its 50-day moving average (MA) of $42.46 and subsequent support at its 200-day MA of $40.29.
Flextronics (FLEX) was upgraded today by Bank of America/Merrill Lynch (BAC) as the company has been seeing higher profit margins. A $7.50 price target was set.
5-1-12-Pfizer (NYSE:PFE) reported Q1 EPS of $0.58, ex-items, topping estimates of $0.56.Revenues in the quarter came in at $15.4 billion, vs. estimates of $15.469 billion.The company sees FY $58 billion – $60 billion, vs. estimates of $62.14 billion.The company sees FY EPS of $2.14 -$2.24, vs. estimates of $2.26.
In trading on Wednesday, apparel stores shares were relative leaders, up on the day by about 1.9%. Leading the group were shares of Charming Shoppes (CHRS), up about 23.6% and shares of Ascena Retail Group (ASNA) up about 12.8% on the day.
