Stock Analysis

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Network-1 Technologies (NTIP +2.55%) jumped 17% in after-hours trading after its subsidiary, Mirror World Technologies, agreed to settled its patent litigation against Apple. NTIP will receive $25 million from Apple for the settlement.

 

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BorgWarner (BWA +3.91%) rose 0.3% in after-hour trading after GIC Private reported a new 5.09% passive stake in the company.

 

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Alcoa (AA +3.26%) rallied +4% in pre-market trading after reporting Q2 adjusted EPS of 15 cents, which was better than the consensus of 9 cents. Q2 revenue of $5.30 billion was close to the market consensus.

 

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Seagate Technology (STX +0.33%) rallied 13% in pre-market trading after its preliminary Q4 revenue beat expectations and the company announced more cost-cutting by cutting 14% of jobs.

 

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Oracle (ORCL -0.22%) was upgraded to 'Outperform' from 'Market Perform' at BMO Capital Markets. Pinnacle Foods (PF -1.83%) was upgraded to a 'Buy' at Goldman Sachs.

 

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Orexigen Therapeutics (OREX +0.50%) rallied over 4% in after-hours trading after its top shareholder, Baupost, said it may convert/exercise notes/warrants of up to 4.7 million common shares.

 

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Juno Therapeutics (JUNO +1.68%) surged 33% in after-hours trading after the FDA removed the clinical hold on Juno's Phase 2 study of JCAR015 to treat lymphoblastic leukemia.

 

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Teva Pharmaceutical Industries Ltd. (TEVA +3.00%) gained nearly 2% in after-hours trading after it raised guidance on Q2 revenue to $4.9 billion-$5.0 billion from a prior view of $4.8 billion-$4.9 billion.

 

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JP Morgan (JPM) reported above-consensus earnings and revenues for its second quarter. BlackRock (BLK) reported second quarter adjusted earnings per share exceeding estimates and revenues were in line.

 

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Delta Air Lines' (DAL) second quarter adjusted earnings per share beat estimates, while its revenues were below expectations.

 

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XL Group (XL) announced a preliminary net loss estimate for the second quarter of $240 million on a pre-tax basis relating to natural catastrophes.

 

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Stock Analysis 18th-22nd (July)

Apple (AAPL) is slowly starting to show signs of life. Apple (AAPL) is now a strong buy below $90. Resistance will be located up at $100.

 

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Tesla (TSLA) dropped back below $220 on Friday after a massive rally. Tesla (TSLA) is a strong buy below $200 going forward.

 

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Twitter (TWTR) continues to soar above $18. This was the pre earnings rally I have been talking about since $14. A good earnings report will take this stock back into the $20's.

 

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Bank of America (BAC) reported better than expected second quarter results. Hasbro (HAS) also reported above-consensus results for its second quarter. Ryder (R) announced a 3 cents per share increase in its cash dividend to 44 cents per share.

 

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Magna (MGA) recommended that its shareholders reject a mini-tender offer made by TRC Capital to buy up to 2.5 million shares of Magna or about 0.63 percent of its outstanding shares at C$41.85 per share. The company noted that the price was a discount of about 14 percent to its closing price last Thursday, a day ahead of the offer.

 

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InterOil (IOC) said its board has determined that Exxon Mobil’s (XOM) offer, valuing it at $45 per share, payable in Exxon shares, is superior to a previous merger deal it entered into with Australia’s Oil Search.

 

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Netflix (NFLX) reported better than expected second quarter earnings per share and in line revenues. However, subscriber growth during the quarter was weak. The company's subscriber growth forecast for the third quarter was also weak.

 

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Yahoo! (YHOO) reported adjusted earnings per share and revenues for the second quarter that trailed estimates. The company is in the process of finalizing suitors for its core Internet business.

 

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SemiLEDs (LEDS) exploded last week after a major investor increased his stake to 20%. LEDS has already bounced from $6.20-$7.35 this week.