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November 8, 2012
10:08 EDTWDAY, WOOF, JMI, CREE, SIRO, IDXX, ALGN, WWD, BSMX, XRAY, ABAXOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abaxis (ABAX) initiated with a Buy at Stifel Nicolaus... Align Technology (ALGN) initiated with a Buy at Stifel Nicolaus... Cree (CREE) initiated with an Outperform at Wedbush... Dentsply (XRAY) initiated with a Hold at Stifel Nicolaus... IDEXX (IDXX) initiated with a Hold at Stifel Nicolaus... Javelin Mortgage (JMI) initiated with an Outperform at Oppenheimer... Santander Mexico (BSMX) initiated with a Buy at Goldman... Sirona Dental (SIRO) initiated with a Buy at Stifel Nicolaus... VCA Antech (WOOF) initiated with a Hold at Stifel Nicolaus... Woodward (WWD) initiated with a Hold at Jefferies... Workday (WDAY) initiated with an Outperform at JMP Securities.
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January 21, 2015
08:34 EDTCREE, CREECree downgraded to Sell from Underperform at CLSA
CLSA downgraded Cree to Sell to reflect the fierce competitive environment in LED and mix that may work against the company late in the year. Price target is $30.
08:06 EDTWDAYWorkday continues European expansion with plans for Germany
Workday unveiled its plans to provide products for German customers as it continues its European expansion. Workday invested significant resources to engineer its suite of applications to meet the needs of the German business market, including the various aspects of collaborating with the German works councils and local data protection and privacy directives, as well as the important functional aspects of dealing with German vacation plans, overtime regulations, tariffs, and collective bargaining agreements. Workday also announced today that services partners including Accenture, DayNine Consulting, Deloitte, HP, IBM, Promerit/ realright and PwC have established Workday deployment practices in Germany. Workday now has a total of seven offices across Europe including Amsterdam, The Netherlands; Belfast, UK; Munich, Germany; Dublin, Ireland; London, UK; Paris, France; and Stockholm, Sweden as well as regional data centers in Dublin and Amsterdam.
07:50 EDTBSMXSantander Mexico upgraded to Neutral from Underperform at Credit Suisse
07:40 EDTCREECree upgraded to Overweight at Stephens
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07:35 EDTCREECree upgraded to Overweight from Equal Weight at Stephens
Price target is $42.
January 20, 2015
18:30 EDTCREEOn The Fly: After Hours Movers
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16:11 EDTWWDWoodward backs FY15 EPS view of $2.65-$2.90, consensus $2.77
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16:10 EDTWWDWoodward reports Q1 EPS 66c, consensus 46c
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16:09 EDTCREECree says LED lighting market still in early stages
Cree (CREE) CEO Chuck Swoboda said in the company's earnings release, "We made solid progress in Q2 with operating margin higher than targeted due to an improvement in gross margins in our lighting business. The market for LED lighting is still in the early stages, our new product pipeline is strong, sales momentum is building and our brand is growing in the market. As evidenced by our significant share repurchases in Q2, we believe we are on the right track to continue to grow the company and increase profits over the next several years." Cree peers include SemiLEDs (LEDS) and Acuity Brands (AYI). Cree shares are up 6% in after-hours trading to $34.40 after reporting better than expected Q2 results.
16:03 EDTCREECree sees Q3 EPS 21c-25c, consensus 21c
Sees Q3 revenue $395M-$415M, consensus $404.42M. Sees Q3 non-GAAP gross margin 33.5%+/-.
16:02 EDTCREECree reports Q2 EPS 33c, consensus 22c
Reports Q2 revenue $413.2M, consensus $412.12M.
15:48 EDTCREECreeJanuary weekly 32 straddle priced for 10.5% movement into Q4
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15:21 EDTWWD, CREENotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include IBM (IBM), consensus $5.41; Netflix (NFLX), consensus 45c; CA Technologies (CA), consensus 60c; Cree (CREE), consensus 22c; Woodward (WWD), consensus 46c; Fulton Financial (FULT), consensus 21c; Advanced Micro Devices (AMD), consensus 1c; Interactive Brokers (IBKR), consensus 6c; Pinnacle Financial (PNFP), consensus 53c.
14:58 EDTCREECree technical comments ahead of earnings
There has been a pause in the dominant downtrend that began in the fall of 2013 in recent weeks that has seen basing at the $30 area. That level is the key area to watch on the downside should news be more negative than traders appear to expect. A breakdown below the $30 level could lead to a test of the 52-week low at $27.25 that was hit during the October market lows last year. If there is a positive surprise, the stock has a great deal of work ahead to turn the trend even toward neutral on a longer-term basis. Resistance levels to watch as potential upside objectives are at $35.46 and $37.26 which is the high of the range prior to the bearish gap down from early October. It would take a move above the $40 area for the stock to be back on a more bullish price path. The shares have a history of volatile reactions around earnings events with price gaps which could exceed levels noted.
14:27 EDTCREECree January weekly 31 straddle priced for 9.9% movement into Q4
09:45 EDTCREE, CREECree estimates lowered ahead of Q2 report, says CLSA
CLSA lowered Cree estimates ahead of Tuesday's Q2 report following checks that indicate a lack of demand improvement in China LED demand. The analyst also sees risk to increased inventory build that could lead to a cut in fab utilization and reiterates its Underperform rating.
08:46 EDTCREECree January weekly volatility elevated into Q4 and outlook
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08:09 EDTABAXAbaxis receives approval for its VetScan FeLV-FIV Rapid Test Kit
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08:04 EDTWWDWoodward selling overdone, says Stifel
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07:15 EDTWDAYSAP not interested in buying competitors Workday, Salesforce, Bloomberg reports
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