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Stock Market & Financial Investment News

News Breaks
January 10, 2014
11:51 EDTCMG, AZN, ISRG, SNDK, AKAMOptions with increasing implied volatility: AKAM ISRG CMG SNDK AZN
News For AKAM;ISRG;CMG;SNDK;AZN From The Last 14 Days
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June 25, 2015
17:56 EDTSNDKMicron 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).
14:00 EDTAZNAstraZeneca initiated with a Hold at HSBC
Price target GBP 46.40.
12:59 EDTISRG, CMGOptions with increasing implied volatility
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12:54 EDTSNDKEarnings Watch: Micron reports after multiple analysts recommend selling shares
Micron Technology (MU) is expected to report third quarter earnings after the close on Thursday, June 25, with a conference call scheduled for 4:30 pm EDT. Micron manufactures semiconductor devices, principally Dynamic Random Access Memory, or DRAM, NAND Flash and NOR Flash memory. EXPECTATIONS: Analysts are looking for earnings per share of 56c on revenue of $3.9B. The consensus range is 49c-65c for EPS on revenue of $3.73B-$4.03B, according to First Call. On its last earnings conference call, Micron guided for Q3 revenue of $3.85B-$4.05B. In terms of bit growth in Q3, the company said previously that it sees total DRAM up high single digits and Trade NAND down low single digits. In Q3 for ASP, the company forecast total DRAM down high single digits and Trade NAND up mid single digits. LAST QUARTER: On April 1, Micron reported Q2 adjusted EPS of 81c, against a consensus of 73c, on revenue of $4.17B, against a consensus of $4.15B. The company said then that it was allocating less production to its PC segment and shifting to faster growing areas, but also said it foresaw PC DRAM demand to improve in the second half of 2015. PEER: On April 15, SanDisk (SNDK) lowered it FY15 revenue view to $5.4B-$5.7B from $6.5B-$6.8B. At that time, SanDisk CEO Sanjay Mehrotra said the company was "disappointed" with its financial and operational performance and was taking "aggressive measures" to regain the type of execution it has delivered in the past, adding that its top priorities for 2015 are to strengthen its product roadmap and rebuild its momentum. NEWS: On May 5, Micron appointed Ernie Maddock as CFO and vice president, Finance, effective June 1. Maddock joined Micron after having served as EVP and CFO at Riverbed Technology (RVBD). STREET RESEARCH: On June 9, Piper Jaffray analyst Ruben Roy wrote that after conducting checks in Taiwan he expects the prices of PC DRAM to continue to decline. However, mobile and server DRAM pricing remains stable, as demand for those products is rising, the analyst stated. Roy lowered his estimates for Micron and trimmed his price target on the shares to $34 from $35 but kept an Overweight rating on the name. The same day, research firm Drexel Hamilton cut its rating on Micron to Sell from Hold, citing its belief that DRAM price declines are likely to continue. Samsung appears to be willing to accept lower memory prices and mobile DRAM prices are weakening, while PC DRAM prices have remained weak, the firm stated. As a result, Drexel lowered its margins and earnings estimates for Micron and slashed its price target on the stock to $20 from $30. Less than a week later, Morgan Stanley analyst Joseph Moore downgraded Micron to Underweight, the firm's equivalent of a "Sell" rating. Moore said that his checks in Taiwan indicate that the outlook for DRAM is "cautious versus expectations" for the third quarter. Previously, the analyst had expected DRAM to experience a seasonal boost in Q3, but he now expects this lift to be delayed until at least Q4. Moreover, DRAM prices will probably stay weak through Q3 as customers' inventories of DRAM are excessive, while sales of PC DRAM will probably remain weak in Q3 and could stay low in Q4, the analyst stated. Micron could have difficulty improving its earnings in 2016 from current levels, warned the analyst, who set a $21 price target on the shares. The same day, Moore downgraded peer SanDisk to Equal Weight from Overweight and lowered his price target on those shares to $75 from $80. On June 19, Topeka upgraded Micron to Buy from Hold and increased its price target to $34 from $30. The firm came away from an investor site visit incrementally more confident regarding PC demand and related DRAM pricing. Topeka added that it expects investor confidence in Micron's ability to sustain margins though cycles to increase over the next few quarters as Micron executes. Earlier this week, Goldman Sachs analyst Mark Delaney downgraded Micron to Sell from Neutral, 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 Micron shares to $19 from $27. PRICE ACTION: Over the last three months, shares of Micron have fallen over 9%. Ahead of its earnings report, Micron fell fractionally to trade near $24 per share at midday.
10:00 EDTISRGOn The Fly: Analyst Initiation Summary
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05:37 EDTISRGIntuitive Surgical initiated with an Overweight, $575 target at Barclays
Barclays analyst Matthew Taylor started shares of Intuitive Surgical with an Overweight rating and $575 price target. Taylor thinks surgery share will continue to shift to robotic and believes demand for Intuitive's da Vinci among general surgeons is very high. The stock closed yesterday down $4.17 to $492.45.
June 24, 2015
11:16 EDTCMG, ISRGOptions with increasing implied volatility
Options with increasing implied volatility: WMB AMZN CMG BIIB VMW QLIK ISRG FB UA FFIV
09:07 EDTAZNCAR-T cancer drug researchers seen as M&A targets, Bloomberg says
Juno Therapeutics (JUNO), Kite Pharma (KITE) and Bluebird Bio (BLUE) are trading well above their IPO levels as takeovers predictions have spurred interest and share increases for the developers of CAR-T gene therapies, said Bloomberg's "Real M&A" column, quoting Dimo Dimov, a professor at the University of Bath’s School of Management, as having said that companies such as Pfizer (PFE), Merck (MRK), Roche (RHHBY) and AstraZeneca (AZN) are "closely watching" the firms. Cellectis (CLLS), which is working with Pfizer on its own approach to CAR-T therapy, has said it wants to bring its therapy to market and doesn’t anticipate a sale, the report noted. Reference Link
06:50 EDTAZNAstraZeneca loses top executive Ward-Lilley to Vectura, Reuters reports
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06:47 EDTAKAMAkamai releases Q1 'State of the Internet' report
Akamai Technologies released its Q1 State of the Internet Report. Based on data gathered from the Akamai Intelligent Platform, the report provides insight into key global statistics such as connection speeds and broadband adoption across fixed and mobile networks, overall attack traffic, global 4K readiness, and IPv4 exhaustion and IPv6 implementation. the first quarter of 2015, Akamai observed a 1.2% quarterly increase in the number of unique IPv4 addresses connecting to the Akamai Intelligent Platform, growing to over 812 million—about 10 million more than were seen in the fourth quarter of 2014. n the first quarter, average mobile connection speeds ranged from a high of 20.4 Mbps in the United Kingdom—a 27% increase over the fourth quarter—to a low of 1.3 Mbps in Vietnam. Average peak mobile connection speeds ranged from 149.3 Mbps in Australia to 8.2 Mbps in Indonesia. Denmark saw 98% of unique ip addresses from mobile providers connect to Akamai at speeds above 4 Mbps, followed by Sweden and Venezuela with 97% each. On the other end of the spectrum, four countries—Vietnam, Iran, Kazakhstan, and Bolivia—each had less than 1% of ip addresses connecting at those speeds. Based on traffic data collected by Ericsson, the global volume of mobile data traffic grew by 12% between the fourth quarter of 2014 and first quarter of 2015. Analysis of Akamai io data collected during the first quarter from a sample of requests to the Akamai Intelligent Platform indicates that for traffic from mobile devices on cellular networks, Apple Mobile Safari accounted for roughly 35% of requests, down slightly from 36% in the fourth quarter, while Android Webkit and Chrome for mobile accounted for 23% and 16% of requests, respectively—giving a total of 39% for the Android platform. For traffic from mobile devices across all networks, Apple Mobile Safari was responsible for close to 47% of requests, down from 48% last quarter, while Android Webkit and Chrome Mobile made up just over 25% and 17% of requests, respectively, for a total of 42%. ontinuing the trend seen in the fourth quarter of 2014, the number of unique IPv4 addresses worldwide connecting to Akamai grew by nearly 10 million in the first quarter. As noted in last quarter’s report, however, the company expects that the number of unique global IPv4 addresses seen by Akamai may level off or decline in the future as more carriers implement carrier-grade network address translation solutions in an effort to conserve limited IPv4 address space and as they increase support for and availability of native IPv6 connectivity for subscribers.
June 23, 2015
11:00 EDTISRG, CMGOptions with increasing implied volatility
Options with increasing implied volatility:TRIP WPZ CMG BIIB WMB AMZN ISRG VMW
07:31 EDTAZNBIND Therapeutics announces FDA authorization of clinical trial with AZD2811
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05:53 EDTCMGStocks with implied volatility movement; WMB CMG
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June 22, 2015
10:41 EDTISRG, CMGOptions with increasing implied volatility
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10:00 EDTSNDKOn The Fly: Analyst Upgrade Summary
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05:57 EDTCMGStocks with implied volatility movement; JD CMG
Stocks with implied volatility movement; JD.com (JD) 45, Chipotle (CMG) 22 according to iVolatility.
05:34 EDTSNDKSanDisk upgraded to Buy from Hold at Summit Research
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June 19, 2015
05:47 EDTCMGStocks with implied volatility movement; MYLCMG
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June 18, 2015
07:36 EDTAZNReceptos remains an attractive takeover candidate, says Leerink
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June 17, 2015
06:57 EDTISRGIntuitive Surgical volatility at low end of historic range
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