New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 6, 2013
07:10 EDTMXIM, CYMI, NXPI, MCHP, ASML, NVDA, LTXC, AEISSusquehanna to host a summit
2013 Semiconductor Summit is being held in New York on March 6.
News For AEIS;ASML;CYMI;LTXC;MCHP;MXIM;NVDA;NXPI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 6, 2015
18:22 EDTNVDAAMD plummets after PC headwinds result in lower Q2 revenue view
Shares of semiconductor maker AMD (AMD) are sliding after the company reduced its second quarter revenue view. WHAT'S NEW: AMD lowered its Q2 revenue view to down 8% sequentially from a prior view of decreasing 3%, plus or minus 3% that the company gave with its first quarter earnings results back in April. The company attributed the decreased view for revenue to weaker than expected consumer PC demand. Along with its lower Q2 revenue view the chip maker lowered its Q2 non-GAAP gross margin view to approximately 28%, compared to the previous non-GAAP guidance of approximately 32% primarily due to a higher mix of Enterprise, Embedded and Semi-Custom segment sales and lower than anticipated Computing and Graphics segment APU unit volumes due to weaker than expected OEM PC product demand. WHAT'S NOTABLE: Shares of PC related stocks have been struggling recently after several research firms issued cautious views on the group. On May 19, Morgan Stanley said it was more cautious on PC names near-term, given PC and HDD inventory builds quarter-to-date and weaker April ODM sales. The firm's analyst team at the time said it continued to believe Q1 was a bottom in year-over-year growth, but now expects normal Q2 seasonal growth instead of above normal and thinks any recovery will likely be delayed until Q3. On June 23, JP Morgan issued a cautious note on hard disk drive makers Western Digital (WDC) and Seagate Technology (STX), citing continuing negative PC data. The firm said it saw little evidence that fundamentals in the PC space were improving, citing negative comments on PC demand from HP (HPQ), Avago (AVGO), and Micron (MU) over the last month. More recently, on June 25, chip maker Micron reported third quarter results and current quarter guidance below expectations, citing near term headwinds attributable to PC headwinds. PRICE ACTION: Shares of AMD are down over 14% in after-hours trading to $2.12. OTHERS TO WATCH: Other companies that may be exposed to PC weakness include Microsoft Corporation (MSFT), Intel Corporation (INTC), NVIDIA (NVDA), SanDisk (SNDK), and Apple (AAPL).
July 2, 2015
10:29 EDTNXPINXP Semiconductors, Freescale shareholders approve merger
Subscribe for More Information
July 1, 2015
07:42 EDTNXPICanaccord recommends three European semi names amid eurozone turmoil
Subscribe for More Information
June 30, 2015
08:48 EDTNXPIFreescale to host special shareholder meeting
Subscribe for More Information
08:40 EDTNXPINXP Semiconductors to host special shareholder meeting
Subscribe for More Information
June 29, 2015
16:32 EDTAEISAdvanced Energy to wind down Solar Inverter business
Advanced Energy Industries announced that it has made a strategic decision to focus solely on its Precision Power business and wind down its Solar Inverter business, which is operated under AE Solar Energy Inc., AEI Power GmbH and their subsidiaries. Advanced Energy expects to record a pre-tax charge of approximately $260M-$290M related to the wind down of the Solar Inverter business operations, the majority of which will be recorded in the second quarter. Of this write down, approximately $150M relates to the impairment of goodwill and intangibles, $45M-$75M to the write down of inventory, fixed and other assets, $15M for employee termination cost, $10M for tax valuation allowances and the remaining $40M for other costs to exit the business. Cash costs for severance and other expenses related to this decision are expected to range from $30M-$45M of which we expect $20M-$30M will be in 2015 with the remainder in subsequent years. These costs will be recorded as impairment and restructuring charges on the company's income statement. The company plans to fund the cash costs through internally generated funds. Over the past six months the company has engaged in a rigorous process exploring and evaluating various strategic alternatives for the Solar Inverter business, including a potential sale, joint venture, partnership, spin-off, licensing and other alternatives. To date, strategic discussions with third parties regarding the sale of the entire business have not provided sufficient value and terms that were in the best interest of our shareholders, customers, employees and partners. Therefore, the company has made the decision to wind down the Solar Inverter business. The company anticipates an orderly wind down of the Solar Inverter business, with AE Solar Energy Inc., AEI Power GmbH and their subsidiaries supporting their customers, the installed base and fulfilling customer purchase orders on hand.
June 25, 2015
17:56 EDTNVDAMicron plunges after Q3 results, guidance impacted by PC headwinds
Shares of PC related memory chip maker Micron Technology (MU) are plunging after reporting third quarter financial results and fourth quarter guidance that missed analyst expectations. WHAT'S NEW: After the close, Micron reported Q3 earnings per share of 54c on revenue of $3.85B, both shy of analyst estimates of 56c and $3.9B, respectively. Citing "near-term headwinds driven primarily by weakness in PC sector," Micron gave a fourth quarter revenue view of $3.45B-$3.7B which was significantly lower than analyst expectations of $4.16B. WHAT'S NOTABLE: On the company's earnings conference call, Micron said, consistent with prior expectations, "We are forecasting DRAM industry supply bit growth in the mid-20s in calendar 2015 and in the low-to-mid 20s in 2016." The company said it sees DRAM gross margins for Q4 down mid-single digits sequentially. Additionally, the chip maker said it sees Q4 DRAM bit growth flat to up low single digits. ANALYST TAKE: On June 22, Micron was downgraded to Sell from Neutral at Goldman Sachs. Goldman analyst Mark Delaney downgraded Micron Technology to Sell saying rising DRAM supply will lower selling prices and contract margins. Delaney expects DRAM prices to drop up to 30% over the next three quarters and cut his price target for shares to $19 from $27. On the same day, JP Morgan lowered its price target on Micron shares to $33 from $37. The firm also lowered its estimates for Micron citing lower than anticipated DRAM pricing in the past three months. The firm, however, kept an Overweight rating on Micron, saying improving demand in other segments like mobile and the company's decision to not hold inventory during Q3 should help offset the DRAM weakness. PRICE ACTION: Shares of Micron are lower by 11.5% in after- hours trading to $21.25. OTHER PC RELATED STOCKS: In after-hours trading, PC related chip makers are also lower, with Intel Corporation (INTC) down 0.9%, NVIDIA (NVDA) lower by 1.1%, and AMD (AMD) down fractionally. Others trading lower include Microsoft (MSFT), SanDisk (SNDK), Hewlett-Packard (HPQ), and Seagate (STX).
June 23, 2015
12:54 EDTNVDAPC concerns weighing on shares of Seagate, Western Digital
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use