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Stock Market & Financial Investment News

News Breaks
October 25, 2012
10:04 EDTWYNN, FFIV, VRML, BXP, BRO, ZNGA, SWKS, SEIC, NFX, LRE, HON, FTI, EQIX, CFR, AB, AKAMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Akamai (AKAM) upgraded to Buy from Hold at Canaccord... AllianceBernstein (AB) upgraded to Outperform from Market Perform at Keefe Bruyette... Cullen/Frost (CFR) upgraded to Neutral from Underperform at Sterne Agee... Equinix (EQIX) upgraded to Buy from Neutral at Citigroup... FMC Technologies (FTI) upgraded to Hold from Underperform at Jefferies... Honeywell (HON) upgraded to Outperform from Market Perform at Bernstein... LRR Energy (LRE) upgraded to Outperform from Perform at Oppenheimer... Newfield Exploration (NFX) upgraded to Market Perform at Raymond James... SEI (SEIC) upgraded to Outperform from Market Perform at Keefe Bruyette... Skyworks (SWKS) upgraded to Strong Buy from Outperform at Raymond James... Zynga (ZNGA) upgraded to Buy from Hold at Needham... Brown & Brown (BRO) upgraded to Buy from Hold at Stifel Nicolaus... Boston Properties (BXP) upgraded to Buy from Hold at Stifel Nicolaus... Vermillion (VRML) upgraded to Neutral from Sell at Ladenburg... F5 Networks (FFIV) upgraded to Buy from Above Average Caris... Wynn Resorts (WYNN) upgraded to Neutral from Sell at Compass Point.
News For AKAM;AB;CFR;EQIX;FTI;HON;LRE;NFX;SEIC;SWKS;ZNGA;BRO;BXP;VRML;FFIV;WYNN From The Last 14 Days
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October 14, 2014
08:04 EDTSWKSSkyworks raises Q4 EPS view to $1.08 from $1.00, consensus $1.01
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08:03 EDTSWKSSkyworks raises EPS, revenue outlook for Q4
07:46 EDTHONJacobs on team to deliver Ravenhall Prison project in Melbourne, Australia
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07:09 EDTFFIVF5 Networks initiated with an Outperform at Credit Suisse
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06:38 EDTWYNNWynn Resorts downgraded to Neutral from Buy at BofA/Merrill
Price target lowered to $195 from $210.
05:51 EDTZNGAStocks with implied volatility movement; DRYS ZNGA
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October 13, 2014
14:11 EDTSWKSSkyworks should report a strong quarter, says Rosenblatt
Rosenblatt remains positive on Skyworks given iPhone exposure and expects a strong quarterly report. The firm's Taiwanese foundries checks suggest continued order strength from Skyworks for Q4 despite some sights that overall PA orders will slow for quarter.
09:23 EDTEQIX, FFIV, AKAMHP could buy lower valuation company, says Bernstein
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09:10 EDTHONHoneywell and United Technologies complete second helicopter engine test
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07:15 EDTAKAMNational Association of Corporate Directors to hold a conference
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07:04 EDTFFIVF5 Networks weakness a buying opportunity, says William Blair
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06:11 EDTSWKSSkyworks implied volatility of 59 at upper end of index mean range
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October 10, 2014
10:29 EDTSWKSMicrochip CEO warning on industry correction sinks semiconductors
Shares of a number of semiconductor makers are falling sharply after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector had entered a correction. In a note to investors today, research firm FBR Capital said Microchip's comments "could be worrisome, " and the firm responded by taking a more defensive stance on the space. WHAT'S NEW: Microchip, which develops microcontroller and analog semiconductors, estimated that its second quarter revenue would come in at $546.2M, versus its previous guidance of $560.0M-$575.9M and analysts' consensus estimate of $568M. The company said that it had experienced a number of negative trends during the quarter, including a weaker than usual September, weakness in China, and significant inventory builds at its distributor customers. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it reports sales from distribution on a sell-through basis and built a significant amount of inventory in the distribution channel in the September quarter and that it does business with over 80,000 customers. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future. ANALYST REACTION: In a note to investors today, FBR Capital analyst Christopher Rolland said that Microchip's statements come in the wake of other negative signs for the sector. In August and September, lead times for the sector fell versus the month before, the analyst stated. Additionally, revenue trends at Taiwanese chip makers weakened in August, Rolland stated. The analyst said that Microchip's statements pushed him over the fence, causing him to take a more defensive stance on the sector. He removed ON Semiconductor (ONNN) from FBR's Top Picks list but kept an Outperform rating on the stock, as he believes that its valuation is "very reasonable." Rolland maintained Market Perform ratings on Atmel (ATML), Texas Instruments (TXN), Fairchild (FCS), AMD (AMD), and Applied Micro Circuits (AMCC). Sterne Agee also attributed weakness in the sector to Microchip's warnings, but the firm recommended buying NXP Semiconductors (NXPI), Avago (AVGO), and Skyworks (SWKS) due to their strong product cycles with EMV and upcoming iPhone-iPad launches from Apple (AAPL). In addition, the firm said it would buy Micron (MU) and SanDisk (SNDK) given tight supply, below normal inventory levels, and tailwinds from China. PRICE ACTION: In early trading, Microchip dropped nearly 14% to $39.29, Intel (INTC) fell almost 6% to $31.67, On Semiconductor slid 10% to $7.53, Atmel tumbled 11.5% to $6.61, Texas Instruments slipped 8% to $42.16, Fairchild slumped 10.6% to $12.95, AMD dropped 6% to $2.77, Applied Micro declined 10% to $6.19, and NXP Semiconductors was 14% lower to $55.27.
09:06 EDTFFIVF5 Networks checks indicate return to stable growth, says Janney Capital
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08:42 EDTABAllianceBernstein reports September preliminary assets under management $473B
The vast majority of the 2.7% decrease was attributable to market depreciation, including the negative impact of foreign exchange movements, though total net outflows during the month contributed as well.
October 9, 2014
08:03 EDTFTIFMC Technologies awarded frame agreement to supply subsea production systems
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06:40 EDTFFIVSource of JPMorgan cyberattack still unclear, NY Times says
The source of the cyberattack on JPMorgan (JPM) and other U.S. financial institutions this summer is still unclear, according to The New York Times. The hackers may have tried to hit about a dozen financial institutions , and E-Trade(ETFC) and Fidelity Investments may have been victimized in some way, the newspaper stated, citing an unnamed source who was briefed on the matter. At least five other banks, including Citigroup (C), HSBC (HBC) and Regions Financial (RF), discovered that one of the web addresses used by those who hacked JPMorgan tried to penetrate their systems, The Times quoted unnamed sources briefed on the matter as saying. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
October 8, 2014
13:20 EDTFFIVF5 Networks shares overvalued, says Northland
Northland believes F5 Networks shares are overvalued due to lower growth, competitor guidance reduced due lengthening U.S. sales cycles, and lack of priority spending for ADC's. Shares are Market Perform rated with a $110 price target.
10:48 EDTZNGAGlu drops despite Benchmark optimism about Kardashian game
Research firm Benchmark Co. upgraded digital video game maker Glu Mobile (GLUU) to Buy from Hold, based on optimism about the company's upcoming third quarter earnings report. WHAT'S NEW: Glu may report higher than expected third quarter sales and earnings before interest taxes depreciation and amortization on October 29, Benchmark analyst Mike Hickey wrote in a note to investors today. The company may also raise its fourth quarter guidance, Hickey believes. Glu's results are being lifted by the success of the company's "Kim Kardashian: Hollywood" game, the analyst believes. He has a $5.90 price target on the name. WHAT'S NOTABLE: Taking the opposite view on Glu Mobile in an article yesterday was a short-selling blog, TheStreetSweeper. The blog said it "wouldn't be surprised" if the company cut its Q4 guidance, as Kim Kardashian and other Glu games "are fading fast." Company insiders are "selling huge chinks" of the company's shares, added the blog. Northland Capital analyst Darren Aftahi yesterday countered by accusing TheStreetSweeper of "acting as a megaphone" for shorts in the name, trying to drive down the stock in a weak market, and producing an article that is "full of conjecture." The analyst said he thinks the company could beat Q3 revenue expectations by a large amount, potentially producing a "massive short squeeze." OTHERS TO WATCH: Other digital video game makers include Zynga (ZNGA) and King Digital (KING). PRICE ACTION: In early trading, Glu dropped 4% to $4.56.
05:11 EDTAKAMAkamai, China Telecom establish strategic cloud services partnership
Akamai Technologies (AKAM) announced a strategic partnership agreement with China Telecom Corporation (CHA) cloud division, CT Cloud. CT Cloud is one of the largest cloud computing service providers in China, offering quality cloud services to customers. As part of the strategic partnership, CT Cloud has agreed to offer an integrated solution incorporating Akamai's full suite of media delivery, Web performance, and cloud security offerings with its own Cloud services to Chinese businesses looking to grow their global Web presence. In addition, the partnership is designed to enable close cooperation between the two companies in the areas of technology and network access, thus strengthening Akamai's China CDN offering for accelerating content from global customers to Chinese consumers. Under the partnership, CT Cloud plans to leverage Akamai for content delivery network technology that will be available for the delivery of its Cloud services.
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