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Stock Market & Financial Investment News

News Breaks
December 13, 2012
10:12 EDTVECO, MFA, TIE, UTHR, NLY, LXK, ALLT, LLTC, CREE, IRF, CMA, NBR, HBAN, ADIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Analog Devices (ADI) downgraded to Neutral from Buy at Citigroup... Comerica (CMA) downgraded to Underperform from Market Perform at Keefe Bruyette... Cree (CREE) downgraded to Neutral from Buy at B. Riley... Huntington Bancshares (HBAN) downgraded to Underperform at Keefe Bruyette... International Rectifier (IRF) downgraded to Sell from Neutral at Goldman... Linear Technology (LLTC) downgraded to Sell from Neutral at Citigroup... Nabors Industries (NBR) downgraded to Underperform from Hold at Jefferies... United Therapeutics (UTHR) downgraded to Sell from Neutral at Goldman... Veeco (VECO) downgraded to Neutral from Buy at B. Riley... Darden downgraded to Neutral from Buy at Goldman... Lexmark (LXK) downgraded to Sell from Hold at Deutsche Bank... Titanium Metals (TIE) downgraded to Neutral from Overweight at JPMorgan... Allot Communications (ALLT) downgraded to Hold from Buy at Wunderlich... Annaly Capital (NLY) downgraded to Hold from Buy at Deutsche Bank... MFA Financial (MFA) downgraded to Hold from Buy at Deutsche Bank.
News For ADI;CMA;CREE;HBAN;IRF;LLTC;NBR;UTHR;VECO;LXK;TIE;ALLT;NLY;MFA From The Last 14 Days
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February 11, 2016
12:32 EDTLLTC, ADIMaxim evades sell-off as the possibility of a bid from TI materializes
Shares of analog semiconductor maker Maxim Integrated Products (MXIM) are evading a broad market sell-off after research firm Macquarie mentioned the firm as a possible takeover candidate by Texas Instruments (TXN). WHAT'S NEW: In a research note from Wednesday, Macquarie analyst Deepon Nag said Texas Instruments could make a bid for Maxim Integrated. The analyst contended that although TI is in no hurry to make an acquisition, the chip giant has historically been an opportunistic buyer of distressed assets. The recent market sell off has created an opportunity in that regard as semiconductor companies are off their highs. Maxim is well off its October high of $42.18 and is currently trading at approximately $31.43 per share. The analyst believes Maxim Integrated fits Texas Instruments criteria of focusing on a strong R&D team, broad customer base, and focus on industrial and automotive end markets. Nag also believes that with additional synergies, Maxim could drive free cash flow yield of roughly 9%, above Texas' current yield of 7%. WHAT'S NOTABLE: Speaking at the Goldman Sachs Technology & Internet Conference on midday Wednesday, Texas Instruments Chief Financial Officer Kevin March spoke of the company's efforts in analog markets, especially in the automotive sector. When asked about the company's M&A strategy, March highlighted the importance of free cash flow, or FCF, that an acquisition can generate. According to Macquarie analyst Deepon Nag, a Maxim acquisition could improve TI's free cash flow yield by 2%. March stressed the importance of a strategic fit that's going to further the company's efforts in industrial and automotive. "So, when we take a look at M&A, the thing that we look at first and foremost is, does it fit our portfolio, is it strategically going to help us. Is it going to help us advance our position in industrial and automotive. It's probably going to be an analog company." said March, speaking at the Goldman conference. PRICE ACTION: Shares of Maxim are up fractionally to $31.25 in midday trading, while Texas Instruments is down over 1% to $50.13. OTHERS TO WATCH: Other chip makers in the analog space include Analog Devices (ADI) and Linear Technology Corporation (LLTC).
February 10, 2016
12:47 EDTUTHRUnited Therapeutics upgraded to Buy from Hold at Standpoint Research
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07:00 EDTNBRNabors Industries offers best value among Land Drillers, says Citi
After assessing a range of net asset values for Land Drillers based on a various recovery scenarios, Citi analyst Scott Gruber says Nabors Industries (NBR) offers the best value within the group. The stock presents upside of 200% in his bull case and 65% downside in his bear case. Gruber calls Halliburton (HAL) his top pick, however, saying frac "offers superior recovery potential" to land rigs. The analyst has Buy ratings on both names along with Patterson-UTI (PTEN). He has a Neutral rating on Helmerich & Payne (HP).
February 9, 2016
17:09 EDTNLYAnnaly Capital files automatic mixed securities shelf
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06:12 EDTCMAComerica volatility elevated as shares trend lower
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05:31 EDTALLTAllot Communications sees FY16 revenue $102M-$108M, consensus $111.94M
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05:30 EDTALLTAllot Communications reports Q4 EPS 2c, consensus 4c
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February 5, 2016
10:02 EDTCREEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Ashford Hospitality Prime (AHP) downgraded to Neutral from Buy at SunTrust... Cascade Microtech (CSCD) downgraded to Hold from Buy at Craig-Hallum... Cinemark (CNK) downgraded to Neutral from Outperform at Credit Suisse... ConocoPhillips (COP) downgraded to Sector Perform from Outperform at Scotia Howard Weil... Credit Suisse (CS) downgraded to Equal Weight from Overweight at Morgan Stanley... Cree (CREE) downgraded to Neutral from Overweight at JPMorgan... Deckers Outdoor (DECK) downgraded to Neutral from Buy at BofA/Merrill... Esterline (ESL) downgraded to Hold from Buy at Canaccord... GrubHub (GRUB) downgraded to Perform from Outperform at Oppenheimer... Kohl's (KSS) downgraded to Underweight from Neutral at Atlantic Equities... LINN Energy (LINE) downgraded to Sell from Hold at Stifel... LinkedIn (LNKD) downgraded to Sector Perform from Outperform at RBC Capital... LinnCo (LNCO) downgraded to Sell from Hold at Stifel... Magellan Midstream (MMP) downgraded to Neutral from Outperform at Credit Suisse... Marathon Petroleum (MPC) downgraded to Neutral from Overweight at JPMorgan... Multi-Fineline (MFLX) downgraded to Hold from Buy at Needham... NIC Inc. (EGOV) downgraded to Market Perform from Outperform at Avondale... Outerwall (OUTR) downgraded to Neutral from Overweight at Piper Jaffray... PPL Corp. (PPL) downgraded to Hold from Buy at Deutsche Bank... PennyMac Mortgage (PMT) downgraded to Equal Weight from Overweight at Barclays... Pixelworks (PXLW) downgraded to Hold from Buy at Lake Street... Qorvo (QRVO) downgraded to Sell from Neutral at Citi... Ralph Lauren (RL) downgraded to Underperform from Neutral at BofA/Merrill... TrueBlue (TBI) downgraded on macro concerns at BMO Capital... WEC Energy (WEC) downgraded to Hold from Buy at Deutsche Bank.
06:47 EDTCMAActivist investors eyeing U.S. banks for merger waves, Reuters says
Activist investors are targeting the U.S. banking sector, betting that the headwinds the industry is experiencing will accelerate consolidation among such companies, Reuters reports. Banks historically have stayed out of the line of sight of activist investors, with certain exceptions, though rate and regulatory pressures could result in a wave of M&A for SMID-cap institutions, the report says. Potential activist candidates include Comerica Bank (CMA), which Hudson Executive Capital acquired a $56M stake in earlier this week, and Zions (ZION), Reuters notes. Reference Link
05:48 EDTCREECree downgraded to Neutral from Overweight at JPMorgan
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February 4, 2016
11:15 EDTADIBroadcom, Analog Devices seen as beneficiaries of cellular/Wi-Fi convergence
Shares of three companies involved in cellular and Wi-Fi technology -- Broadcom Limited (AVGO), Analog Devices (ADI), and Microsemi Corporation (MSCC) -- are all trading higher after a Sterne Agee research note suggested they would benefit from a trend toward the convergences of the two communications technologies. WHAT'S NEW: On February 3, Qualcomm (QCOM) and Deutsche Telekom (DTEGY) announced that, through the aggregation of licensed and unlicensed spectrum bands, recent testing demonstrated the ability of LTE Licensed-Assisted Access, or LAA, to extend coverage and increase network capacity, while delivering seamless mobility, and ensuring a fair coexistence with Wi-Fi in unlicensed spectrum. "LAA is one of the key technologies that will help satisfy the increasing demand for data and better mobile connectivity," said Deutsche Telekom Chief Technology Officer Bruno Jacobfeuerborn. "The trial will help the wireless ecosystem and key stakeholders verify and experience the benefits of LAA first hand." WHAT'S NOTABLE: Sterne Agee CRT analyst Douglas Freedman believes the line between cellular and Wi-Fi is likely to blur, pointing to the Qualcomm-Deutsche Telekom partnership as an example of this technology trend. Freedman said three stocks that could benefit from the shift are Broadcom Limited, given its premium RF filtering and Wi-Fi connectivity solutions, Analog Devices, because of its increased data converter content in small cell applications, and Microsemi Corporation, due to its Wi-Fi access point and timing enablers. The firm has Buy ratings on all three stocks. PRICE ACTION: In late morning trading, Broadcom was trading higher by 2.2%, Analog Devices was up fractionally and Microsemi rose 1%.
10:00 EDTCREEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADTRAN (ADTN) upgraded to Market Perform from Underperform at Cowen... Alpha & Omega (AOSL) upgraded to Outperform from Market Perform at Northland... Ambarella (AMBA) upgraded to Buy from Neutral at Dougherty... ArcBest (ARCB) upgraded on valuation at Stifel... Arlington Asset Investment (AI) upgraded to Buy from Neutral at Ladenburg... Atwood Oceanics (ATW) upgraded to Accumulate from Hold at KLR Group... Buffalo Wild Wings (BWLD) upgraded to Outperform from Market Perform at Raymond James... C.H. Robinson (CHRW) upgraded to Outperform from Market Perform at Raymond James... CDK Global (CDK) upgraded to Outperform from Market Perform at Barrington... Cadence Design (CDNS) upgraded on valuation, guidance at DA Davidson... China Unicom (CHU) upgraded to Buy from Hold at HSBC... Cloud Peak (CLD) upgraded to Market Perform from Underperform at FBR Capital... Cree (CREE) upgraded to Outperform from Market Perform at Northland... CrossAmerica (CAPL) upgraded to Outperform from Neutral at Baird... Hub Group (HUBG) upgraded on results at Stifel... Kennametal (KMT) upgraded to Neutral from Underperform at Longbow... Lannett (LCI) upgraded to Buy from Hold at Craig-Hallum... Lowe's (LOW) upgraded to Conviction Buy from Buy at Goldman... Mattel (MAT) upgraded to Buy from Sell at Argus... New Oriental Education (EDU) upgraded to Buy from Neutral at Mizuho... Olin Corp. (OLN) upgraded to Buy from Neutral at Monness Crespi... RONA (RONAF) upgraded to Equal Weight from Underweight at Barclays... Red Hat (RHT) upgraded to Outperform from Market Perform at Cowen... Wayfair (W) upgraded to Buy from Neutral at Goldman... Whirlpool (WHR) upgraded to Buy from Neutral at Goldman... Yahoo (YHOO) upgraded to Buy from Neutral at Citi... Zumiez (ZUMZ) upgraded to Buy from Hold at Brean Capital... adidas (ADDYY) upgraded to Buy from Neutral at Goldman.
09:18 EDTADISterne Agee CRT names three winners from convergence of cellular, Wi-Fi
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06:49 EDTCREECree upgraded to Outperform from Market Perform at Northland
Northland analyst Tom Sepenzis upgraded Cree to Outperform saying the company's reorganization should drive better results in 2016. Sepenzis raised his price target for the shares to $35 from $30.
February 2, 2016
07:18 EDTNBRJefferies sees relative value in Nabors Industries
Jefferies analyst Brad Handler believes shares of Nabors Industries (NBR) can outperform Patterson-UTI (PTEN) over the near term and Helmerich & Payne (HP) over the longer term. His analysis suggests Nabors likely avoids covenant breach and has adequate liquidity to weather the downturn. Handler keeps a Hold rating on Nabors, however, with a reduced price target of $7.

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