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Stock Market & Financial Investment News

News For DISCA;EQIX;CTRX;WDC;LMCA;REGN;SBAC;ADI;VRSK;LBTYA From The Last 14 Days
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July 23, 2015
10:00 EDTWDCOn The Fly: Analyst Downgrade Summary
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06:29 EDTWDCWestern Digital downgraded to Equal Weight from Overweight at Morgan Stanley
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July 22, 2015
14:51 EDTADIEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
12:38 EDTDISCADiscovery to acquire controlling stake in Eurosport from TF1
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12:35 EDTADIAnalog chip makers fall after Linear cites weak end market demand
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10:01 EDTREGNOn The Fly: Analyst Initiation Summary
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10:01 EDTADIOn The Fly: Analyst Downgrade Summary
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09:28 EDTADIAnalog Devices downgraded to Hold from Buy at Drexel Hamilton
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08:39 EDTREGNRegeneron initiated with a Market Perform at Northland
Northland analyst James Kuo started shares of Regeneron Pharmaceuticals with a Market Perform rating and $500 price target. Pointing out that shares are up 34% year-to-date and 80% year-over-year, Kuo prefers to watch the upcoming launch of Praluent from the sidelines.
July 21, 2015
16:19 EDTDISCADiscovery files automatic mixed securities shelf
12:47 EDTREGNPiper confident in Regeneron approval by Friday
After Amgen's (AMGN) Repatha received marketing authorization in Europe, making it the first of the anti-PCSK9 antibody to be approved worldwide, Piper Jaffray analyst Edward Tenthoff expressed confidence that Regeneron (REGN) and Sanofi's (SNY) anti-PCSK9 antibody Praluent will be approved by Friday's FDA action date. Tenthoff believes Praluent will eventually be a blockbuster drug, but anticipates the launch to be slow. He keeps a Neutral rating on Regeneron with a $484 price target.
10:01 EDTVRSKOn The Fly: Analyst Downgrade Summary
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10:01 EDTVRSKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ASML (ASML) upgraded to Accumulate from Neutral at SNS Securities... Anacor (ANAC) upgraded to Buy from Neutral at Goldman... Artisan Partners (APAM) upgraded to Outperform from Neutral at Credit Suisse... Canadian National (CNI) upgraded to Buy from Hold at Canaccord... General Mills (GIS) upgraded to Outperform from Sector Perform at RBC Capital... Halliburton (HAL) upgraded to Accumulate from Neutral at Global Hunter... Harte-Hanks (HHS) upgraded to Outperform from Market Perform at BMO Capital... MDC Partners (MDCA) upgraded to Overweight from Neutral at Piper Jaffray... SABMiller (SBMRY) upgraded to Buy from Neutral at Nomura... Sanmina (SANM) upgraded to Neutral from Underperform at Longbow... Santander Mexico (BSMX) upgraded to Neutral from Sell at Goldman... Sherwin-Williams (SHW) upgraded to Buy from Neutral at Northcoast... Southwestern Energy (SWN) upgraded to Buy from Neutral at Global Hunter... Verisk Analytics (VRSK) assumed with an Outperform at Keefe Bruyette.
06:33 EDTVRSKVerisk Analytics assumed with an Outperform at Keefe Bruyette
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05:53 EDTVRSKVerisk Analytics downgraded to Sell from Neutral at UBS
UBS analyst Alex Kramm downgraded Verisk Analytics to Sell saying the current valuation looks "stretched" at current levels. Kramm sees increased uncertainty from insurance industry pressures and the company's expansion into the energy vertical. The analyst cut Verisk's price target to $74 from $79.
July 20, 2015
17:18 EDTLMCAD. E. Shaw & Co reports 5.1% passive stake in Liberty Media
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10:00 EDTDISCAOn The Fly: Analyst Downgrade Summary
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09:19 EDTEQIXBofA/Merrill data center analyst holds an analyst/industry conference call
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07:02 EDTDISCADiscovery downgraded to Hold from Buy at Pivotal Research
Pivotal Research downgraded Discovery to Hold based on valuation and lowered its price target to $35 from $39 based on an updated cost of capital.
July 17, 2015
07:50 EDTCTRXUnitedHealth, Catamaran deal will close earlier than expected, says UBS
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