California State Teachers Retirement System Has $16.69 Million Stake in CDW common stock (CDW)

California State Teachers Retirement System cut its holdings in shares of CDW common stock (NASDAQ:CDW) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,375 shares of the information technology services provider’s stock after selling 7,957 shares during the period. California State Teachers Retirement System owned approximately 0.16% of CDW common stock worth $16,690,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of CDW common stock by 22.9% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,018 shares of the information technology services provider’s stock worth $279,000 after buying an additional 748 shares during the period. HighVista Strategies LLC boosted its position in shares of CDW common stock by 9.2% during the first quarter. HighVista Strategies LLC now owns 9,500 shares of the information technology services provider’s stock worth $668,000 after buying an additional 800 shares during the period. Amalgamated Bank boosted its position in shares of CDW common stock by 3.1% during the fourth quarter. Amalgamated Bank now owns 29,903 shares of the information technology services provider’s stock worth $2,078,000 after buying an additional 897 shares during the period. Cabot Wealth Management Inc. boosted its position in shares of CDW common stock by 1.0% during the first quarter. Cabot Wealth Management Inc. now owns 101,702 shares of the information technology services provider’s stock worth $7,151,000 after buying an additional 970 shares during the period. Finally, ETRADE Capital Management LLC boosted its position in shares of CDW common stock by 6.2% during the first quarter. ETRADE Capital Management LLC now owns 16,645 shares of the information technology services provider’s stock worth $1,170,000 after buying an additional 979 shares during the period. Institutional investors and hedge funds own 89.88% of the company’s stock.

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Several equities analysts have recently issued reports on CDW shares. BidaskClub downgraded CDW common stock from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 30th. Needham & Company LLC upped their target price on CDW common stock from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, March 22nd. Zacks Investment Research upgraded CDW common stock from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Tuesday, May 8th. JPMorgan Chase & Co. assumed coverage on CDW common stock in a research report on Wednesday, March 7th. They issued a “neutral” rating and a $83.00 target price for the company. Finally, Robert W. Baird restated a “buy” rating on shares of CDW common stock in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $78.50.

In other CDW common stock news, insider Thomas E. Richards sold 17,647 shares of the company’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $82.31, for a total value of $1,452,524.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christina M. Corley sold 4,000 shares of the company’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $69.68, for a total value of $278,720.00. Following the completion of the transaction, the insider now directly owns 36,177 shares in the company, valued at approximately $2,520,813.36. The disclosure for this sale can be found here. Insiders sold 108,564 shares of company stock worth $8,740,200 in the last ninety days. 2.60% of the stock is owned by corporate insiders.

CDW opened at $83.77 on Friday. The company has a market capitalization of $12.79 billion, a price-to-earnings ratio of 21.58 and a beta of 1.11. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.35 and a quick ratio of 1.16. CDW common stock has a 1-year low of $58.57 and a 1-year high of $85.82.

CDW common stock (NASDAQ:CDW) last released its earnings results on Wednesday, May 2nd. The information technology services provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.46 billion. CDW common stock had a return on equity of 69.59% and a net margin of 3.83%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 earnings per share. analysts predict that CDW common stock will post 4.68 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, June 11th. Shareholders of record on Friday, May 25th were issued a $0.21 dividend. The ex-dividend date was Thursday, May 24th. This represents a $0.84 annualized dividend and a dividend yield of 1.00%. CDW common stock’s dividend payout ratio is currently 21.65%.

About CDW common stock

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

Highbridge Capital Management LLC Invests $2.40 Million in Ocean Rig UDW Inc (ORIG) Stock

Highbridge Capital Management LLC bought a new stake in Ocean Rig UDW Inc (NASDAQ:ORIG) during the first quarter, HoldingsChannel reports. The institutional investor bought 95,154 shares of the oil and gas company’s stock, valued at approximately $2,401,000.

Other hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN purchased a new stake in Ocean Rig UDW in the 1st quarter valued at approximately $223,000. Spark Investment Management LLC purchased a new stake in Ocean Rig UDW in the 4th quarter valued at approximately $249,000. Engineers Gate Manager LP purchased a new stake in Ocean Rig UDW in the 1st quarter valued at approximately $507,000. Hartree Partners LP purchased a new stake in Ocean Rig UDW in the 1st quarter valued at approximately $714,000. Finally, A.R.T. Advisors LLC purchased a new stake in Ocean Rig UDW in the 1st quarter valued at approximately $1,027,000. 81.69% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities research analysts recently issued reports on the company. BidaskClub lowered Ocean Rig UDW from a “hold” rating to a “sell” rating in a research note on Wednesday, May 30th. ValuEngine lowered Ocean Rig UDW from a “hold” rating to a “sell” rating in a research note on Saturday, May 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.00.

Shares of Ocean Rig UDW stock opened at $26.87 on Friday. Ocean Rig UDW Inc has a fifty-two week low of $20.22 and a fifty-two week high of $40.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.86 and a quick ratio of 6.86.

Ocean Rig UDW (NASDAQ:ORIG) last issued its quarterly earnings results on Wednesday, May 16th. The oil and gas company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.22. The business had revenue of $194.10 million for the quarter, compared to analysts’ expectations of $176.85 million. Ocean Rig UDW’s revenue was down 35.9% on a year-over-year basis.

Ocean Rig UDW Profile

Ocean Rig UDW Inc, an offshore drilling contractor, provides oilfield services for offshore oil and gas exploration, development, and production drilling worldwide. It specializes in the ultra-deepwater and harsh-environment segment of the offshore drilling industry. The company owns and operates two fifth generation harsh weather ultra-deepwater semisubmersible offshore drilling units under the Leiv Eiriksson and Eirik Raude names; five sixth generation ultra-deepwater drilling units under the Ocean Rig Corcovado, the Ocean Rig Olympia, the Ocean Rig Poseidon, and the Ocean Rig Mykonos names; and four seventh generation drilling units under the Ocean Rig Mylos, the Ocean Rig Skyros, the Ocean Rig Athena, and the Ocean Rig Apollo names.

Want to see what other hedge funds are holding ORIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ocean Rig UDW Inc (NASDAQ:ORIG).

Netflix Inc (NFLX) CEO Reed Hastings Sold $33.1 million of Shares

CEO of Netflix Inc (NASDAQ:NFLX) Reed Hastings sold 79,800 shares of NFLX on 06/20/2018 at an average price of $415.15 a share. The total sale was $33.1 million.

Netflix Inc provides multimedia content through the internet. It provides a subscription based platform for television shows, movies and original series. Netflix Inc has a market cap of $180.59 billion; its shares were traded at around $415.44 with a P/E ratio of 278.82 and P/S ratio of 14.60. Netflix Inc had annual average EBITDA growth of 6.10% over the past ten years.

CEO Recent Trades:

CEO Reed Hastings sold 79,800 shares of NFLX stock on 06/20/2018 at the average price of $415.15. The price of the stock has increased by 0.07% since.

CFO Recent Trades:

CFO David B Wells sold 1,000 shares of NFLX stock on 06/18/2018 at the average price of $387.5. The price of the stock has increased by 7.21% since.CFO David B Wells sold 1,000 shares of NFLX stock on 06/11/2018 at the average price of $361.88. The price of the stock has increased by 14.8% since.CFO David B Wells sold 1,000 shares of NFLX stock on 06/04/2018 at the average price of $363. The price of the stock has increased by 14.45% since.CFO David B Wells sold 1,000 shares of NFLX stock on 05/29/2018 at the average price of $351.61. The price of the stock has increased by 18.15% since.

Directors and Officers Recent Trades:

Chief Product Officer Gregory K Peters sold 6,062 shares of NFLX stock on 06/19/2018 at the average price of $400. The price of the stock has increased by 3.86% since.Director Leslie J Kilgore sold 472 shares of NFLX stock on 06/19/2018 at the average price of $401. The price of the stock has increased by 3.6% since.Director Richard N Barton sold 700 shares of NFLX stock on 06/15/2018 at the average price of $387.81. The price of the stock has increased by 7.12% since.Director Leslie J Kilgore sold 1,063 shares of NFLX stock on 06/15/2018 at the average price of $396.89. The price of the stock has increased by 4.67% since.Director Leslie J Kilgore sold 1,224 shares of NFLX stock on 06/14/2018 at the average price of $382.99. The price of the stock has increased by 8.47% since.

For the complete insider trading history of NFLX, click here

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PACIFIC �� Google takes on Amazon ... in China

What's Next: How Google's China investment explains the future: Google's $550 million investment in Chinese e-commerce firm JD.com, which will enable both companies to sell goods online across Southeast Asia, the United States and Europe, tells you three things about where we're headed:

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�� Future of US-China: The road to China's one billion customers, and much of the broader Asian market, runs through Chinese partnerships. Google's deal is a penny ante for future access to the Chinese market.

�� Future of Retail: It's not just Amazon and Alibaba. Google refuses to cede e-commerce and is partnering with sites like JD and traditional retailers like Walmart, also a JD investor, to create a third global front.

�� Future of Work: JD is largely run by automation. Axios reports that one fulfillment center in Shanghai "can organize, pack and ship 200,000 orders a day" and employs just four people, "all of whom service the robots."

The Big Picture: This is what the future may look like: A small handful of US and Chinese tech firms using automation and artificial intelligence to run the global marketplace.

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Welcome to PACIFIC. President Trump's decision to separate migrant families from their children is top of mind for many of our most loyal readers today, as it is for the nation.

Last year, Jeff Bezos, Tim Cook, Sundar Pichai and Mark Zuckerberg joined hundreds of other business leaders to call on President Trump and Congress to protect Dreamers. We're surprised we haven't seen a similar effort out of big tech yet in response to the separation policy.

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Emergency Response: Apple updates 911

Apple's next software update will include a new feature that sends a person's exact location to emergency responders when they call 911.

How it works, via my colleague Heather Kelly:

�� "The update, coming in iOS 12 later this year, calculates a caller's location based on data collected from WiFi access points, nearby cellular towers, and GPS."

�� "The tricky part isn't finding out where a caller is ... but relaying that information to a fragmented and aging 911 system built for landlines."

�� "Of the 240 million calls made to 911 each year, more than 80% are from mobile devices, according to the National Emergency Number Association."

The Big Picture: This has the potential to save lives. "Not all callers in an emergency know where they are, and some cannot verbally communicate their location," Kelly reports. "Getting medical attention in the first 60-minutes after a traumatic injury is key to preventing death. Emergency professionals call this window the 'golden hour.'"

Bonus, via Reuters: "The Supreme Court has agreed to take up Apple's bid to escape a lawsuit accusing it of breaking federal antitrust laws by monopolizing the market for iPhone software applications and causing consumers to pay more than they should."

Sign up for PACIFIC: The new CNNMoney newsletter about the center of change and innovation

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What the Bay is Reading

"The Dark Side of the Orgasmic Meditation Company" by Bloomberg Businessweek's Ellen Huet: "OneTaste is pushing its sexuality wellness education toward the mainstream. Some former members say it pushed them into sexual servitude and five-figure debts."

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The Stream: What Tidal taught us

Tidal, Jay-Z's subscription-only streaming service, was supposed to cut out other streaming services like Spotify and Apple Music by being the sole home of new music from stars like himself, Beyonce and Kanye West. It didn't work. Jay-Z and Beyonce released a joint album exclusively on Tidal over the weekend and by Monday it was available on Spotify and Apple Music.

Recode's Peter Kafka:

�� "The fact that Jay-Z and Beyonce aren't trying to keep this one locked up on Tidal isn't a good sign for Tidal, which hasn't put out a new subscriber number since 2016, when it said it had 3 million users."

The Big Picture: Music isn't like television. Consumers who subscribe to multiple services like Netflix and Amazon Prime and Hulu for programming still appear to expect all their music to live on one service.

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Punching Up: Snap vs. Facebook, con't

Snap CEO Evan Spiegel's campaign against Facebook -- which began last month when he hit Mark Zuckerberg for copying Snapchat's best features but failing to emulate its data protection policies -- continued today in an interview with CNBC.

My colleague Jordan Valinsky has the key quotes:

�� "One of the things that we've done with our customers is built a lot of trust over time, so that people understand when they use Snapchat that we're respectful of their data and give them choice about how that's used."

�� "One of the things that's become really clear over the past couple months is how important values are to consumers and therefore to advertisers. I think now a lot of times when people are buying advertising products ... they also want to feel good about what they're buying."

The Big Picture, via Valinsky: Many tech CEOs criticize Facebook these days, but for Spiegel its personal. Facebook did copy Snapchat's best features -- namely, Stories -- and it totally eclipses Snap in terms of users and ad revenue.

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Valinsky's Links

Elon Musk urges 'radical improvements' (CNBC)

Microsoft buys an education startup (CNBC)

Huawei tries to put Australia at ease (CNNMoney)

Amazon hawks conspiracy-theory films (BI)

Cannes Lions kicks off in France (FastCo)

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Talk of Tinseltown: Apple's Hollywood play

Bloomberg's Shira Ovide argues that Apple's video strategy -- which now includes at least 16 deals with various Hollywood producers and talent -- is a "mess" because Apple has failed to articulate a strategy, explain how and where the new content will be seen or announce a launch date.

We respectfully disagree. Here's what we're hearing from Hollywood insiders:

�� The strategy for all media companies is actually pretty simple. You need content and you need distribution.

�� Apple already has at least 16 content deals with the likes of Oprah Winfrey, Reese Witherspoon and Steven Spielberg, and the money to do much more.

�� Apple has more than 1.3 billion active devices worldwide, one of the most enviable distribution platforms in the world. They also have the potential to launch a stand-alone streaming service, a la Netflix.

�� As for a launch date ... What's the rush?

Ovide says Apple "can't afford the strategic distraction to flail around in entertainment without a highly focused mission and a clear sense of where it's going and why."

Of course it can. It's Apple. It has an almost-trillion market cap. And like Amazon, it can hire experienced Hollywood hands to figure out the day to day.

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The Fox Wars: Disney's next move

What's Next: Disney's Bob Iger may have less than two weeks to counter Comcast's $65 billion bid for 21st Century Fox:

�� Fox's board will meet Wednesday to discuss Comcast's bid. If it engages with Comcast, Disney will have five days to match.

�� Sources close to the matter say Disney is unlikely to offer significantly more than $65 billion because, all things being equal, Fox would rather go with Disney.

�� Disney is expected to add cash to its offer to sweeten the deal, per CNBC.

Bonus: The Debt Problem: AT&T's Time Warner acquisition and a Comcast-Fox deal would make AT&T and Comcast "the two most indebted companies in the world," per WSJ's Matt Wirz.

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What Next: That Jay-Z and Beyonce album probably deserves a listen, on whatever platform you use.

See you tomorrow, from New York.

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Two companies suspend ads from Samantha Bee's show after vulgar remark about Ivanka Trump

At least two advertisers say they're suspending ads from comedian Samantha Bee's television show.

The backlash follows the latest episode of TBS's "Full Frontal with Samantha Bee" in which Bee called first daughter Ivanka Trump a vulgar name.

Autotrader said in its statement that Bee's comments were "offensive and unacceptable."

"As a result, Autotrader has suspended its sponsorship of Full Frontal with Samantha Bee," the company said.

When asked if Autotrader planned to resume airing ads on "Full Frontal" in the future, a spokesperson said: "We will not run Autotrader advertising on Samantha Bee's show moving forward."

State Farm said in a statement that it has "asked TBS to suspend our advertising in the program and are reviewing any future placements. We constantly review programs to ensure alignment to our programming guidelines and brand values."

The decision came after Bee referred to Trump as a "feckless c***" on her TBS show.

TBS and CNN are both owned by Turner, a subsidiary of Time Warner.

Bee's comment came during a monologue in which Bee went after Trump for failing to take action to prevent undocumented immigrant children from being separated from their parents.

"Ivanka Trump, who works at the White House, chose to post the second most oblivious tweet we've seen this week," Bee said. "You know, Ivanka, that's a beautiful photo of you and your child, but let me just say, one mother to another, do something about your dad's immigration practices, you feckless c***!"

Bee apologized for her remarks amid online backlash Thursday.

"I would like to sincerely apologize to Ivanka Trump and to my viewers for using an expletive on my show to describe her last night. It was inappropriate and inexcusable. I crossed a line, and I deeply regret it," she said in a statement.

TBS said in a statement earlier Thursday that Bee's comments "should not have been aired."

"It was our mistake too, and we regret it," the network said in a statement.

TBS declined to comment on Autotrader's decision to suspend its ads.

The controversy prompted a response from White House Press Secretary Sarah Sanders, who said Bee's language was "vile and vicious."

"The collective silence by the left and its media allies is appalling," Sanders said. "Her disgusting comments and show are not fit for broadcast, and executives at Time Warner and TBS must demonstrate that such explicit profanity about female members of this administration will not be condoned on its network."

In recent years there have been several significant ad boycotts against conservative television stars like Sean Hannity and Laura Ingraham. There have been fewer movements against liberal hosts like Bee.

Time will tell whether this erupts into a full-blown boycott of Bee's program.

Companies are known to ask for their ads to be removed when a controversy engulfs a program. These changes are usually just temporary, but can sometimes become longer-lasting.

The boycott against Ingraham, last March and April, became significant enough that Rupert Murdoch stepped in. Fox News issued a statement that said "we cannot and will not allow voices to be censored by agenda-driven intimidation efforts."

�� CNN's Frank Pallotta contributed to this report.