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Stock Market & Financial Investment News

News For AAPL;BRCM From The Last 14 Days
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May 27, 2015
18:51 EDTAAPL2016 Chevrolet models to feature Apple CarPlay, Android Auto
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16:48 EDTAAPLApple Watch software development kit coming soon, Re/code says
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16:43 EDTAAPLApple executive says car is 'ultimate mobile device,' Re/code reports
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16:23 EDTBRCMOn The Fly: Top stock stories for Wednesday
Stocks on Wall Street began the session in positive territory and never looked back. The market gained upside momentum during the first hour of trading, then found a level where it moved in a very narrow range throughout the day. The averages, led by the Nasdaq, recaptured a major part of yesterday’s losses with today's advance. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Shares of Broadcom (BRCM) spiked after The Wall Street Journal reported that the company is in advanced talks to be acquired by Avago Technologies (AVGO). Piper Jaffray analyst Ruben Roy said that if average takeout multiples in the semiconductor space over the past several years are used as a guide, Broadcom could be valued near $58 per share in a takeover. Meanwhile, Pacific Crest speculated that Avago could pay $63-$65 per share for Broadcom and the deal would still be accretive. Later in afternoon, a report from Bloomberg claimed a stock and cash deal for Avago to acquire Broadcom could be announced as soon as tomorrow. Broadcom shares finished up $10.05, or 21.42%, to $56.97, while Avago ended with gains of $11.32, or 8.62%, to close the session at $142.62. MAJOR MOVERS: Among the notable gainers was Tiffany & Co. (TIF), which advanced $9.01, or 10.53%, to $94.54 after its earnings beat expectations and the company backed its forecast for fiscal year 2015. Also higher was Five Prime Therapeutics (FPRX), which rallied $2.89, or 14.69%, to $22.56 after it made a deal to develop CAR-T cancer therapies in partnership with bluebird bio (BLUE). Among the noteworthy losers was Michael Kors (KORS), which sank $14.66, or 24.2%, to $45.93 and was downgraded at BofA Merrill Lynch and JPMorgan after the company provided a weaker than expected outlook for the first quarter and fiscal year 2016. Also lower were shares of Workday (WDAY), which dropped $10.49, or 11.34%, to $82.00 after the company reported results and gave guidance with less upside than investors have come to expect. INDEXES: The Dow rose 121.45, or 0.67%, to 18,162.99, the Nasdaq gained 73.84, or 1.47%, to 5,106.59, and the S&P 500 advanced 19.28, or 0.92%, to 2,123.48.
16:03 EDTBRCM, AAPLOptions Update; May 27, 2015
iPath S&P 500 VIX Short-Term Futures down 82c to 18.56 Option volume leaders: AAPL KORS BRCM MCD FB MNKD AAL YHOO BAC MU ANF S EOX
15:42 EDTBRCMAvago board to meet tonight on potential Broadcom deal, CNBC reports
CNBC's Kayla Tausche, citing sources, reports that Avago's (AVGO) board will meet tonight to vote on a potential takeover deal for Broadcom (BRCM), which could be announced as soon as tomorrow.
15:28 EDTBRCMMellanox would have direct competition from an Avago, Broadcom deal, says Stifel
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15:03 EDTBRCMAvago deal for Broadcom could be announced as soon as tomorrow, Bloomberg says
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15:02 EDTBRCMBroadcom spikes higher on report of possible Avago bid
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15:00 EDTBRCMBroadcom, Avago deal would make strategic sense, says Piper Jaffray
Piper Jaffray analyst Ruben Roy said he believes a merger deal between Broadcom (BRCM) and Avago (AVGO), as the companies were said by the Wall Street Journal to be discussing, would make strategic sense. Roy said that if average take-out multiples in the semiconductor space over the past several years are used as a guide, Broadcom could be valued near $58 per share in a takeover. He added that he thinks Intel (INTC) could continue to be interested in Broadcom, especially with its reported talks to buy Altera (ALTR) "in limbo." Roy maintains a Neutral rating on Broadcom shares.
14:52 EDTBRCMBroadcom declines comment on report of Avago talks
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14:27 EDTBRCMAvago could pay up to $65 for Broadcom, says Pacific Crest
Pacific Crest speculates Avago (AVGO) could pay $63-$65 per share for Broadcom (BRCM) and the deal would still be accretive.
14:25 EDTBRCMAvago Technologies calls active on talks to buy Broadcom report
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14:20 EDTBRCMBroadcom calls active on Avago in advanced talks to buy report
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14:10 EDTBRCMMaxim briefly trades lower after DJ report of Avago interest in Broadcom
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14:08 EDTBRCMAvago in advanced talks to buy Broadcom, WSJ reports
Broadcom (BRCM), which had a market value of $28B as of this afternoon, is in advanced talks to be acquired by Avago Technologies (AVGO), which recently had a market cap of about $34B, though it is unclear what terms the companies are discussing, said The Wall Street Journal. Following the report, Broadcom shares are up about 14% to $53.45, while Avago is up nearly 6% to trade just below $139 per share. Reference Link
14:01 EDTBRCMBroadcom jumps 8.5% after Dow Jones report on Avago takeover talks
Avago Technologies (AVGO) shares are up nearly 5% following the report.
14:00 EDTBRCMBroadcom in advanced talks to be acquired by Avago, Dow Jones reports
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13:13 EDTAAPLCBS CEO says in early talks with Apple on inclusion in Apple TV offering
CBS (CBS) CEO Les Moonves is speaking on CNBC.
13:12 EDTAAPLCBS says network will 'probably' sign up for Apple TV service, TechCrunch says
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