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Stock Market & Financial Investment News

News Breaks
June 11, 2014
10:00 EDTSYK, RAI, MU, EW, ANGI, SKUL, PB, MRVL, DSX, AMZN, UMC, SNDK, TAP, ETR, COP, ACHNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Outperform from Neutral at RW Baird... Amazon.com (AMZN) upgraded to Conviction Buy from Buy at Goldman... Angie's List (ANGI) upgraded to Buy from Hold at Wunderlich... ConocoPhillips (COP) upgraded to Outperform from Sector Perform at Howard Weil... Diana Shipping (DSX) upgraded to Equal Weight from Underweight at Barclays... Edwards Lifesciences (EW) upgraded to Outperform from Market Perform at JMP Securities... Entergy (ETR) upgraded to Neutral from Sell at UBS... Marvell (MRVL) upgraded at Nomura... Micron (MU) upgraded to Buy from Underperform at BofA/Merrill... Molson Coors (TAP) upgraded at BofA/Merrill... Prosperity Bancshares (PB) upgraded to Buy from Neutral at Sterne Agee... Reynolds American (RAI) upgraded at BofA/Merrill... SanDisk (SNDK) upgraded to Buy from Underperform at BofA/Merrill... Skullcandy (SKUL) upgraded to Neutral from Underweight at Piper Jaffray... Stryker (SYK) upgraded to Buy from Hold at Argus... United Microelectronics (UMC) upgraded to Buy from Neutral at BofA/Merrill.
News For ACHN;AMZN;ANGI;COP;DSX;EW;ETR;MRVL;MU;TAP;PB;RAI;SNDK;SKUL;SYK;UMC From The Last 14 Days
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August 18, 2015
06:26 EDTETREntergy initiated with a Neutral at Mizuho
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05:55 EDTMUDRAMeXchange: Global mobile DRAM revenue up 7.7% in Q2, DigiTimes reports
Global sales of mobile DRAM increased 7.7% sequentially to $3.85B while global sales of overall DRAM decreased 4.8% to $11.4B in Q2, reports DigiTimes, citing DRAMeXchange. Mobile DRAM prices were less affected by falling prices for PC DRAM chips when compared to other types of DRAM. Prices for PC DRAM chips, which fell 15% in July, are forecast to drop an overall 30% in the third quarter of 2015. Reference Link
August 17, 2015
16:53 EDTAMZNOn The Fly: Top stock stories for Monday
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16:00 EDTMUOptions Update; August 17, 2015
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13:11 EDTANGIAlibaba unlikely to make competing offer for zulily, say Baird
zulily (ZU) shareholder Alibaba (BABA) is unlikely to make a competing takeover bid for the online retailer, Baird analyst Colin Sebastian tells investors in a research note. Alibaba, which upped its stake in zulily to 9% in May, likely views the company as an investment rather than a vehicle to enter the U.S. market, Sebastian argues. This morning, Liberty Interactive (QVCA) announced it had reached an agreement to acquire zulily for $18.75 per share or $2.4B. The analyst sees strategic benefits from the deal. Increased takeover activity in the small-cap internet space could support the valuations of the remaining independents, including ChannelAdvisor (ECOM), Yelp (YELP), Groupon (GRPN), Angie's List (ANGI) and RetailMeNot (SALE), Sebastian writes. Shares of zulily are soaring 47% to $18.50 following the takeover agreement.
11:11 EDTMU, SNDKAnalysts split on Micron after analyst day
Analysts were divided on the outlook for flash memory product maker Micron (MU) following its analyst day. Wells Fargo upgraded the stock to Market Perform from Underperform and Piper Jaffray said that the stock was unlikely to drop much further. However, Bank of America/Merrill and Wedbush cut their rating on the shares to Neutral from Buy. UPGRADE: Wells Fargo upgraded Micron to Market Perform from Underperform. Following the stock's decline over the last few months, the shares "reflect a more realistic view" of the flash memory sector's outlook, the firm stated. Additionally, the sector's financial condition has improved in recent years, which should boost the sector's profits and margins over the longer term, Wells Fargo stated. However, the firm still believes that the company is facing several risks, including falling prices for DRAM, a widespread form of flash memory, and its rising capital spending. Although Micron is facing "challenging near-term conditions," including a weak PC market, the company outlined many positive aspects of its business, according to Piper Jaffray analyst Ruben Roy. The longer term trends for the flash memory sector remain positive, as consolidation, low supply growth and diversifying demand should increase the profits of suppliers, Roy believes. And although Micron said its capital spending would be above expectations, Roy expects these investments to help the company enhance its manufacturing process and efficiency, boosting its performance over the longer term. Micron may miss estimates in the short-term but its share price is unlikely to drop much further, and its performance should improve significantly next year, according to Roy. He kept an Overweight rating on the stock. BEARISH TAKE: The DRAM supply/demand dynamic probably won't improve and Micron's cost reductions probably won't outpace price declines until mid-2016, according to Wedbush analyst Betsy Van Hees. Although Van Hees believes that the company's spending will help it over the longer term, she forecast that the stock would "continue to struggle" until the DRAM supply/demand dynamic stabilizes. The analyst cut her price target on the name to $19 from $26. Micron's decision to raise its capital spending suggests that it is "overconfident" in its new chips, according to Bank of America/Merrill Lynch analyst Simon Dong-je Woo. The margins on the new chip "could easily" be negative, the analyst believes. Woo thinks that Micron's capital expenditures next year should be $3B-$4B versus the company's guidance of $5.3B-$5.8B. The analyst's target on the name fell to $19 from $28.40. PRICE ACTION: In late morning trading, Micron lost 0.2% to $17. Earlier the stock reached a new 52-week low of $16.12. The shares of another flash memory product maker, SanDisk (SNDK), were flat at $58.
11:10 EDTAMZNAmazon's Jay Carney defends company, CBS News reports
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10:09 EDTMUOn The Fly: Analyst Downgrade Summary
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09:56 EDTAMZNLiberty Interactive CEO says to stay 'far away' from Amazon's business model
09:51 EDTMUFollow-up: Micron downgraded to Neutral on capex hike at BofA/Merrill
As previously reported, BofA/Merrill downgraded Micron to Neutral from Buy. The firm said the unexpected FY16 capex hike may reflect overconfidence by management for new chips and could cause execution and earnings misses.. Additionally, BofA/Merrill said Hynix's capex increase is likely to be material and could lead to capex increases by rivals. The firm lowered its price target on shares to $19 form $28.40.
09:38 EDTMUActive equity options trading on open
Active equity options trading on open: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT
09:30 EDTDSXDiana Shipping announces time charter contract for m/v Artemis
Diana Shipping announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with China Shipping Bulk Carrier, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Artemis. The gross charter rate is $7,500 per day minus a 5% commission paid to third parties, for a period of minimum nine months to maximum twelve months. The charter commenced yesterday. The "Artemis" is a 76,942 dwt Panamax dry bulk vessel built in 2006. This employment is anticipated to generate approximately $2.02M of gross revenue for the minimum scheduled period of the time charter.
09:16 EDTMUMicron downgraded to Neutral from Buy at BofA/Merrill
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07:30 EDTMUMicron weakness from concerns with investment returns, says Susquehanna
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07:01 EDTMUMicron downgraded to Neutral from Outperform at Wedbush
07:00 EDTMUMicron upgraded to Market Perform from Underperform at Wells Fargo
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06:31 EDTMUMicron share downside limited from here, says Piper Jaffray
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06:21 EDTAMZNAmazon's Bezos "doesn't recognize" NYT's Amazon, Re/code reports
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06:13 EDTAMZNAmazon's uses harsh workplace practices to reach creative goals, NYT says
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06:09 EDTAMZNAmazon CEO hails U.K.'s approach to drones, FT reports
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